The trend of promoting entrepreneurship in Pakistan will surely prove to be a silver lining in the economic progression of Pakistan and in providing the young generation with an opportunity to grow, and bring their resources and capabilities in use, to help their country and themselves. Here are 5 Tips For A Successful Start-up. I will discuss how to initiate a Start-up? How to maintain a start-up? What to do for a successful start-up? How to grow a start-up? What do you need for a business start-up?
I have written several articles on Ideas for start-ups in Pakistan, which also include:
And this one is on demand for all the young, enthusiastic entrepreneurs out there!
5 Tips For A Successful Business Start-up
1. Do Your Homework
For a successful business start-up, the first thing you need is ‘Research’. Gather information about the practicality and demand of your idea, discuss it with close associates, visit related market places and eye-witness the business setups.
Key to a successful business startup is planning. Plan all the way through. Your key idea, your products or skills to offer, the total investment needed, budget, timeline, initial startup, growth of your business, expected profits, in short EVERYTHING! there should be nothing unwritten or unnoticed about your business startup and its consequences.
- Go For Incubation Centres
Before investing in a business idea, you may test it in an incubation centre. Incubation centres offer you a proper business setup, link you with relevant people and help you to build your raw idea into a practical experience. It takes around 6 months and may have terms and conditions if your business proves to be a successful one with their help. Here are the Top 5 Incubation Centers In Pakistan.
2. Start Low, With A Greater Vision
People want to rush in everything. But they don’t realize what benefit starting low holds. Starting low means, investing the smallest amount and starting your business at the grass root. It is as a test-drive, to experience what capability the business holds and are you ready to shoulder this great responsibility. Either way, you will be saved from huge loses.
A ‘Vision’ is everything for a business. Great businesses were all once ordinary startups but what made them great was their GREAT VISION. Aim for a bigger co-operate with bigger ambitions. But remember to start low.
3. Be Consistent
Consistency is the key to success in every field of life. Work your way through, bit by bit, rupee by rupee, one step at a time. You may be slow but you need to keep moving, improve only a bit each day.
4. Be Patient
Repeat after me: “THERE IS NO BUSINESS THAT WILL GROW OVERNIGHT AND MAKE YOU RICH!”. Business needs a lot of patience. It is as if your money rotating in a circle and less in hand. So, you need to wait and invest and wait over and over again to save yourself that extra profit you long hoped for. Take each step with care and each decision after maximum consideration
5. Know That No Work Is Humiliating
When I was on a gap year after my A-Levels, I had this Mehandi Art skill at hand and along with that a whole year to waste. So, I made a Facebook page to sell my skill and got a lot of positive feedback but only to hear the taunts of my wealthy family and friends who considered it to be a humiliating job for me and thus I quit that instance, but so is this content writing job. Thus, I learned that day.
NO WORK IS HUMILIATING except for one that brings in haram earnings. Ignore everything and everyone that pushes you back for in the end it will only be you who can support yourself. If you feel your idea is worth giving a shot, simply go for it and show them how it’s done!
Hope you find these tips helpful, let me know in the comments section below!
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