Masterclass on Startups: How to convert your business into real business?

 

From where to start?

These days there is a trend among young generation to build their own billion dollar business; And some of us are having good idea to start with. See you can not judge any idea weather it is good or bad; because sometimes ideas seems very promising fails and ideas which are seem very dull makes billions. So my first advice it to never judge any idea first you have to test that idea in real life.

Chase the vision, not the money; the money will end up following you.

                                                                                        -Tony Hsieh, zappos CEO 

Start Small

As I mentioned you have to start; but you will argue that I want to this XYZ product it requires ABC amount of money and it can not be start from zero of little money. 

As far as I understand If you think your idea can not be turn into small business then first you have to break that business model of idea into the pieces and try to setup business for that particular piece of idea.

Let me give you example; suppose you want to build operating system like Appl.inc ; So first you have to breakdown that idea into pieces like you can make small operating system which can be work as just app in your device and have limited features; then you share it with your friends and ask for suggestions and ideas.

 That's how you will have real life service experience and you can evolve that thing over time.

Business is for profit not for money

This thing will deal with your approach to the business; let's suppose you have started a new business on small scale so it is earning only 100$ per month. So you should not be feel dull; if you have invest nothing of small amount of money say 10$, 30$ and you are earning 100$ that means your business is highly profitable.

Never see the money see the percentage of profit and growth; because over time compounding will take over all your worries.

Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.

                                                                                                        -Albert Einstein

  

What you have learnt is worth.

Even if you idea failed you cannot say that you have lost because experience which you have gained it lot more valuable than anything in this world.

Analyzing why you have failed will clear many doubts about business and gives you idea about what not to do in business

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Conclusion

• By starting small risk of failure is very low; that's why you can try many ideas and see what works and what not.
• By starting small you will learn many things like first product or service generation then marketing, feedbacks and improvisation.
• It is possible that your customer becomes future investor.

That's it for today; we will continue this series so stick with this blog and leave your email id so we can send you update whenever we upload new content.