by Susheel Rao | Jun 1, 2023 | Investment
India’s fast-growing economy and entrepreneurial spirit make it a good place for people who want to start their own businesses. But starting a business usually takes a lot of money, which can stop many people from doing it.
This article presents low investment business ideas
Here are a few low-investment business ideas:
Online Tutoring Business:
With the rise of e-learning and remote education, an online tutoring business can be started with minimal investment. All that is needed is a computer, an internet connection, and a website.
This business can cater to students from all over the world and be promoted through social media platforms and online forums. The return on investment can be high, as online tutoring is in great demand.
Social media has become an integral part of our lives, and businesses are always looking for ways to improve their online presence. A social media marketing agency can provide services such as social media management, content creation, and digital marketing.
This business can be started with minimal investment and operated from home. The key to success in this business is to stay updated with the latest digital marketing trends and strategies.
Pet Care Services:
With more and more people adopting pets, the demand for pet care services is on the rise. Services such as pet grooming, pet walking, pet sitting, and pet training can be offered.
This business can be started with minimal investment and promoted through social media platforms and word of mouth. The return on investment can be high, as pet owners are willing to pay a premium for quality pet care services.
Homemade Food Delivery Business:
With the busy lifestyle that most people lead, there is a growing demand for healthy and home-cooked food delivery services.
This business can be started with a small investment and promoted through social media platforms and local advertisements. The key to success in this business is to provide quality and healthy food at an affordable price.
Personalized Gift Shop:
Personalized gifts have become increasingly popular as people look for unique and thoughtful gifts for their loved ones. A personalized gift shop can provide services such as custom-made mugs, t-shirts, photo frames, and other personalized items.
This business can be started with minimal investment and customized through social media platforms and local advertisements.
Personal Fitness Trainer:
Become a personal fitness trainer if you know a lot about fitness and health. Give people customized workout plans and tips on what to eat. You can offer training lessons both online and in person.
Online Store for Handmade Goods:
With the rise in popularity of handmade goods, starting an online store for handmade goods can be a profitable business idea.
This business can be started with minimal investment and promoted through social media platforms and online marketplaces like Amazon Karigar, Etsy, Craftsvilla etc.. The key to success in this business is to provide quality and unique handmade goods at an affordable price.
Event Planning:
Start a business where you organize and run events like weddings, parties, or professional activities. Connect with suppliers and places to offer complete options for events.
Digital Marketing Services:
Offer digital marketing services like social media management, search engine optimization (SEO), or content marketing to small businesses. Help them establish their online presence and reach a wider audience.
Online Language Learning Business:
With the rise of globalization, learning a new language has become increasingly important. An online language learning business can be started with minimal investment and promoted through social media platforms and online marketplaces.
The return on investment can be high, as language learners are willing to pay a premium for quality language learning services.
Conclusion:
Starting a business in India doesn’t always require a substantial investment. These low-investment business ideas have the potential to stand out in the market and provide a high return on investment. These businesses can be started with minimal investment and promoted through various digital platforms. It is important to identify the key market trends and demands before starting any business to ensure its success.
by Susheel Rao | Jun 1, 2023 | Culture & Money
India is a rapidly growing market with many opportunities for aspiring entrepreneurs hoping to launch a startup. There are several types of businesses that are popular in India’s current market, including e-commerce, mobile apps, and software development. These industries have seen significant growth in recent years, making them ideal markets for new startups.
Before launching a startup, it’s crucial for a founder to validate their product concept. This involves conducting market research to determine if there is a demand for their product or service, identifying potential competitors, and assessing the feasibility of their idea. Once the concept has been validated, the founder can begin the process of setting up their company.
Essential steps on how to start a startup in India
Business Types in India’s Current Market:
India’s market offers various opportunities, but some popular business types include:
a. E-commerce:
online retail platforms, delivery services
b. Technology:
software development, mobile apps, AI, fintech
c. Healthcare:
telemedicine, health tech solutions
d. Renewable Energy:
Solar power, energy-efficient solutions
e. Food and Beverage:
Restaurants, food delivery services
F. Education:
e-learning platforms, vocational training.
g. Sustainable Products:
Eco-friendly goods, organic products
Validating Your Concept:
Before launching your startup, validate your concept to ensure its viability.
a. Market Research:
Identify your target market, competition, and potential demand.
b. Minimum Viable Product (MVP):
Develop a basic version of your product or service to test the market and gather feedback.
c. Customer Feedback:
Conduct surveys, interviews, or focus groups to understand customer needs and preferences.
Company Registration and Documentation:
To set up a company in India, follow these steps:
a. Choose a Business Structure:
Decide between a private limited company, limited liability partnership (LLP), or one-person company (OPC).
b. Obtain a Digital Signature Certificate (DSC):
Apply for a DSC online, which will be used for electronic documents.
c. Director Identification Number (DIN):
Obtain a DIN for all directors by filing Form DIR-3.
d. Company Name Approval:
Apply for name approval through the RUN (Reserve Unique Name) form.
e. Incorporation Documents:
Prepare and file the necessary documents, like the MOA (Memorandum of Association) and AOA (Articles of Association).
f. Certificate of Incorporation:
Upon approval, the Registrar of Companies will issue the Certificate of Incorporation.
Securing Investments:
Funding is crucial for startups to grow. Consider these steps:
a. Create a business plan:
Develop a comprehensive plan outlining your business model, financial projections, and growth strategies.
b. Bootstrapping:
Utilize personal savings, loans, or family or friends’ investments to fund your initial operations.
c. Angel Investors and Venture Capital:
Seek funding from angel investors or venture capitalists by preparing a pitch deck and networking at startup events.
d. Government Schemes and Grants:
Explore government initiatives like Startup India, the Atal Innovation Mission, or grants from organizations supporting entrepreneurship.
Legal Considerations:
Ensure compliance with legal requirements to avoid issues in the future.
a. Taxation:
Register for Goods and Services Tax (GST) and obtain a Permanent Account Number (PAN) from the Income Tax Department.
b. Intellectual Property Protection:
File for patents, trademarks, or copyrights to safeguard your intellectual property rights.
c. Licenses and Permits:
Identify and obtain the necessary licenses and permits specific to your industry, such as food licenses, environmental clearances, etc.
Long-Term Business Strategies:
Develop strategies to sustain and grow your startup:
a. Marketing and Branding:
Create a strong brand identity and develop a marketing plan to reach your target audience through digital marketing, social media, and content creation.
b. Scalability:
Plan for scalability by building a robust infrastructure, hiring the right talent, and implementing scalable technologies.
c. Partnerships and Collaborations:
Seek strategic partnerships with complementary businesses or industry influencers to expand your reach and customer base.
d. Customer Relationship Management:
Implement effective CRM systems to nurture customer relationships, gather feedback, and provide excellent customer support.
Challenges and Barriers:
Launching a startup comes with challenges, but here’s how to overcome them:
a. Market Competition:
Differentiate your product or service, conduct regular market research, and provide unique value propositions to stand out.
b. Talent Acquisition:
Build a strong team by offering competitive salaries, fostering a positive work culture, and leveraging professional networks and job portals.
c. Regulatory Environment:
Stay updated with legal and regulatory changes and consult professionals or legal advisors to ensure compliance.
d. Funding Constraints:
Explore various funding options, build a strong business case, and demonstrate the potential for growth and profitability to attract investors.
Conclusion
Launching a startup in India requires careful planning, thorough research, and a strong business strategy. By following these essential steps and addressing legal considerations, entrepreneurs can successfully launch their startups in India in a streamlined and efficient manner.
by Susheel Rao | May 31, 2023 | Culture & Money, Slider
Becoming a venture capitalist typically involves having access to significant financial resources, as it is a profession that involves investing substantial amounts of capital into high-potential startups. Here you’ll find suggestions on how to become a venture capitalist without money, build strong networks, develop skills, and create opportunities to gain an edge in the competitive VC landscape.
However, if you don’t have personal funds available, there are still some paths you can consider to get involved in the venture capital industry.
Ways on how to become a venture capitalist without money
Investment Process
The investment process involves several stages, including sourcing and screening potential investments, conducting due diligence, negotiating terms, and monitoring the portfolio. Aspiring VCs can gain experience in these areas by working at VC firms, participating in angel investor groups, or conducting their own research on potential investments. It’s also important to understand the legal and regulatory aspects of investing, such as securities laws and tax implications.
Gain relevant knowledge and expertise:
Educate yourself about venture capital by reading books, taking online courses, attending seminars or conferences, and staying up-to-date with industry news. Build a strong foundation of knowledge in entrepreneurship, finance, and business strategy.
Alternative Funding Sources
In addition to traditional venture capital, there are alternative funding sources that can be used to invest in startups. Crowdfunding platforms, such as Kickstarter or Indiegogo, allow individuals to invest smaller amounts in projects and businesses. Syndications, where several investors pool their money to invest in a single company, can also be an option.
Network extensively:
Start building relationships with people in the startup and venture capital ecosystems. Attend industry events, join entrepreneur or investor networks, and engage with professionals through social media platforms like LinkedIn. Networking can help you find opportunities, gain insights, and establish connections with potential investors.
Offer non-monetary value:
While money is an essential aspect of venture capital, it’s not the only way you can contribute. Consider offering your skills, experience, and expertise to startups as a mentor, advisor, or consultant. By providing valuable guidance and support, you can build relationships with entrepreneurs and potentially gain access to investment opportunities.
Collaborate with established venture capitalists.
Reach out to established venture capital firms and offer your services as an intern, analyst, or junior associate. While these positions may not provide immediate investment decision-making power, they can offer valuable learning experiences and exposure to the industry.
Conclusion
Becoming a venture capitalist without capital requires dedication, hard work, and a strong network.
Remember, becoming a venture capitalist without personal funds is challenging but not impossible. It requires a combination of knowledge, networking, expertise, and leveraging your skills and resources to add value to the startup ecosystem. Over time, as you build your reputation and network, you may find opportunities to become more involved in the investment side of the venture capital industry.
by Susheel Rao | May 31, 2023 | Culture & Money
Being a student in India doesn’t mean you have to solely rely on your parents or guardians for financial support. Thanks to advancements in technology and the emergence of the gig economy, there are numerous opportunities for students to earn both online and offline. In this article, we will explore various options, their earning potentials, required skills, and platforms to find online jobs, along with offline job application recommendations. Whether you’re looking for part-time work or seeking to utilise your skills and interests, these opportunities can help you earn extra income while studying which you can save up or utilise for your expenes
Benefits of Earning as a Student
1. Financial Independence:
Earning money as a student gives you financial independence, allowing you to cover your expenses without relying solely on your parents or guardians.
2. Enhancing Career Prospects:
Earning while studying can help you gain work experience and build connections that can be beneficial in your future career.
3. Time Management Skills:
Balancing work and studies can help you enhance your time management skills, which are vital in any career.
4. Develop new skills:
Earning as a student can expose you to various work environments, which can help you develop new skills and gain confidence.
5. Building a Portfolio:
Certain online jobs, such as content writing, graphic design, or photography, allow you to build a portfolio that showcases your skills and expertise. This can be beneficial when applying for internships or jobs after graduation.
Different Options for Earning
There are various options available for students in India to earn money both online and offline.
How to earn as a student in India online or at home:
Affiliate Marketing:
- Earning Potential: Varies based on product and commission rates.
- Skills required: social media marketing skills, excellent communication skills, and knowledge of the products or services being marketed.
- Platforms: Amazon Associates, Flipkart Affiliate, ShareASale
Affiliate marketing involves promoting products or services through your unique affiliate link. When someone makes a purchase using your link, you earn a commission. It’s essential to build a strong online presence, engage with your audience, and choose products that align with your niche.
Online Tutoring:
- Earning Potential: INR 200–500 per hour.
- Skills Required: Excellent communication skills, subject matter expertise, the ability to explain concepts clearly, and patience.
- Platforms: Vedantu, TutorMe, and SuperProf.
Online tutoring has gained significant popularity in recent years. You can teach subjects you excel in, such as mathematics, science, or languages. These platforms connect you with students seeking academic assistance. Develop interactive teaching methods and build a positive reputation to attract more students.
Content Writing:
- Earning Potential: INR 500–2,000 per article (based on word count and expertise).
- Skills Required: Excellent writing skills, research skills, and the ability to write on various topics
- Platforms: Freelancer, Upwork, and Fiverr
Content writing offers a flexible and creative way to earn money as a student. You can write blog posts, articles, website content, or social media posts for clients. Develop your writing skills, adhere to deadlines, and deliver high-quality content to enhance your earning potential.
Virtual Assistant:
- Earning Potential: INR 300–1,000 per hour.
- Skills Required: organisational skills, time management skills, communication skills
- Platforms: TaskBullet, Time Etc., Zirtual
As a virtual assistant, you can provide administrative support, manage schedules, handle emails, and perform various tasks remotely. Strong organisational skills, attention to detail, and the ability to multitask are crucial for success in this role.
Graphic Design:
- Earning Potential: INR 300–1,000 per hour or INR 1,000–5,000 per project.
- Skills Required: Design software proficiency, creativity
- Platforms: 99designs, Fiverr, and Upwork
If you have a flair for design, graphic design can be a lucrative option. Create visual content for clients, such as logos, social media posts, website banners, or promotional materials. Develop your design skills and build a strong portfolio to attract clients.
Social media management:
- Earning Potential: INR 300–1,500 per hour.
- Skills Required: analytical skills, content creation, creativity, excellent communication skills, and knowledge of social media platforms.
- Platforms: Hootsuite, Buffer, and Sprout Social
Social media management involves creating and scheduling engaging content, managing social media accounts, and analysing data to optimise performance. Stay updated on the latest social media trends, create compelling content, and utilise analytics tools to drive engagement.
How to earn as a student in India offline:
Part-time Jobs:
- Earning Potential: It varies based on the job and hours worked.
- Skills Required: Depends on the job; could include customer service, teamwork, and problem-solving.
- Application: Approach local businesses, restaurants, or retail stores directly or use job portals like Indeed or Naukri.
Part-time jobs provide hands-on work experience and a steady income. Explore opportunities in industries like hospitality, retail, or customer service. Develop strong communication and interpersonal skills to excel in these roles.
Freelancing:
- Earning Potential: Varies based on the project and client requirements.
- Skills Required: Depend on the freelance work (e.g., photography, event planning, writing).
- Application: Network with friends, family, and acquaintances; promote your services on social media; use freelance job platforms.
Freelancing offers flexibility and allows you to monetize your skills. Whether you’re a photographer, event planner, writer, or web developer, freelancing enables you to work on projects based on your expertise. Create a strong portfolio and actively market your services to attract clients.
Campus Jobs:
- Earning Potential: Varies based on the role and organisation.
- Skills Required: Depends on the job; could include administration, research, and event management.
- Application: Check notice boards, university career services, or approach specific departments or clubs directly.
Universities often offer campus jobs tailored to students’ needs. These roles can include library assistants, research assistants, event coordinators, or administrative support. Keep an eye on notice boards and university career services, or approach specific departments or clubs directly for potential opportunities.
For offline jobs, you can apply directly to businesses on their website or visit job websites such as
Indeed, Naukri, LinkedIn, Wellfound (formerly AngelList), Monster, and many more.
It is essential to create a professional resume and cover letter and tailor them to the job requirements.
Conclusion
Earning as a student in India offers numerous advantages, including financial independence, skill development, flexibility, networking opportunities, and portfolio building. The reason fro you to earn could be to handle your expenses, save money or even save up for an iPhone. Whether you choose to work online through affiliate marketing, tutoring, content writing, or graphic design or prefer offline options like part-time jobs, freelancing, or campus roles, there are various paths to explore. Consider your interests, skills, and schedule to find the right opportunity that aligns with your goals. Start leveraging these earning options to make the most of your student life and pave the way for a successful future.
by Susheel Rao | May 30, 2023 | Savings
Buying the latest version of the iPhone can be an expensive affair. However, with a well-thought-out savings plan, you can make the purchase more affordable.
Here you will be provided with a roadmap to save up for purchasing an iPhone, along with strategies for both EMI and lump-sum payments, available discounts, and the cost-saving benefits of purchasing a refurbished version.
The latest iPhone model available is currently the iPhone 14, which starts at 69,990 and goes up to 1,89,990.
However, you can save money on your purchase by taking advantage of various offers and discounts. Additionally, purchasing a certified refurbished or older model can save you a significant amount of money.
Steps to save up for an iPhone
Determine the cost:
Start by researching the current cost of the latest iPhone model available in India. Based on historical pricing trends, the latest iPhone models in India have ranged from approximately INR 70,000 to INR 1,30,000. As prices may vary, it’s important to check the current market rates.
Lump-Sum Payment Strategy:
If you have sufficient savings or can arrange the necessary funds, making a lump-sum payment for the iPhone could be a cost-effective strategy. Retailers and online marketplaces often offer discounts and cashback offers on full upfront payments. Keep an eye out for holiday sales, special promotions, and loyalty programmes that may provide additional discounts.
EMI Payment Strategy:
If you prefer to pay in installments, consider opting for Equated Monthly Installments (EMIs) offered by various banks and non-banking financial institutions. EMI options allow you to spread the cost of the iPhone over a specific period, typically 6 months to 24 months, depending on the lender’s terms. However, keep in mind that even though there are benefits of EMI, they may also involve additional interest charges, so it’s essential to compare interest rates and choose the most favourable option.
Discounts and Offers:
Research various online marketplaces, authorised retailers, and official Apple resellers to find the best discounts and offers available on the iPhone model you desire. E-commerce platforms often provide discounts during festive seasons like Diwali, Navratri, or Dussehra. Additionally, consider using credit or debit cards that offer cashback or reward points on your purchase, further reducing the overall cost.
Consider purchasing a refurbished iPhone:
Another cost-saving strategy is to consider purchasing a refurbished iPhone. Refurbished devices are pre-owned, but they undergo thorough testing, repairs, and quality checks to ensure their functionality. Refurbished iPhones typically come at a lower price compared to brand new devices. You can find certified refurbished iPhones on reputable e-commerce platforms such as amazon and authorised resellers such as iTech and Maple. Ensure that the refurbished device comes with a warranty for peace of mind.
Set a realistic saving target:
Determine how much you need to save each month to achieve your goal within a reasonable amount of time. Let’s assume you aim to purchase an iPhone costing INR 80,000 within a year (12 months). In this case, you would need to save approximately INR 6,670 per month.
Create a budget:
To save money consistently, it’s crucial to create a budget. Analyse your income and expenses, including essential costs like rent, groceries, utilities, and transportation. Identify areas where you can cut back on unnecessary expenses, such as dining out or entertainment subscriptions. Allocate a specific portion of your monthly income towards your iPhone savings.
Increase Income:
As a student, you can explore opportunities to increase your income. This could involve taking up part-time work or freelancing gigs that align with your skills and schedule. Increasing your income will help you achieve your savings goal more quickly.
Track your progress:
Regularly monitor your savings progress to ensure you’re on track to achieve your goal within your desired timeframe. Use budgeting apps or spreadsheets to track your expenses and savings. If necessary, make adjustments to your budget or savings plan along the way to stay on course.
Conclusion
With the right savings plan and strategy, you can make buying the latest version of the iPhone affordable. Speak with a financial advisor to create a customised savings plan that is tailored to your financial needs and goals, or read through the following blog on how you can make your own savings plan. They can also help you identify the best savings avenues to maximise your returns and save money on your purchase.
