The Hard Reality of Startups:-
A job can fulfil needs but it can never fulfil dreams. Only a businessman can become rich. 90% of people in the world have only 10% of money and 10% people have 90% of the money. And none out of those 10% people, does a job. After thinking about all these things, you decide that no matter what, you want do business. After investing all your savings and borrowing from family, relatives and friends, you collect an amount of 8-10 lakhs and start a business with it. And even after investing so much money, if that business fails, and there are no results after working hard day and night, Even after investing so much money, if you are compelled to think if this is the right business or industry, How would you feel? According to data, 90% of the people who start a business, face this thing. They fail miserably. Approximately 1,67,076 new startups have been created this year. This number is 7.5% higher than the previous year. The number of startups are increasing each year and so is the number of failures. Today, before starting any business or investing in any sector, every person is afraid about the failure of the business.
The Platform Revolution: Businesses That Move Things, Not Products:-
What if there is a slow down in it? What if all the money is lost? Especially in the coming year, 2023. How about getting a foolproof plan alongwith the case studies of the people who already did this, in the same industry? How about getting to know certain business ideas that can never stop running? The business that is evergreen and will continue to run, for sure. These are such businesses and sectors where you can start your own business, invest in some of the good companies of these sectors
And if you do not want to be a part of the business world, you can choose to work in these growing sectors. So, are you ready? Amazon This company made its start in India, in June 2013. And in a few years, it started doing business of thousands of crores. According to the recent reports, in financial year 2022, Amazon did a business of 21,462 crore, in India alone. Flipkart Started in India in October 2007, from Bangalore. And currently, it is doing a business of approximately 50,000 crore in a year. Similarly, Swiggy started in 2014. And by 2022, it has become a company of worth 10 billion dollars, that is approximately 80,000 crore rupees.
What’s the common factor?:-
About Zepto or Rapido, Dunzo, Grofers, or Delhivery. All of these companies have started recently, but they have grown with a supersonic speed. And are now doing business worth thousands of crores, every year. What do all these companies do? If we observe closely, almost all these companies take a product and deliver it from one place to another. And for this, they charge certain commissions. This is why they have been able to grow so fast. Just think, are they delivering their own products?Have they produced those products by themselves? No. Earlier too, these products were present in the market and customers like us were also there. These companies created a platform which solved the problems of sellers and buyers. Marketing became easy for sellers and the hassle reduced for buyers. Going out of the house, shopping in the crowd, bargaining, wasting time. All these problems finally came to an end. You are hungry but do not want to go out. The first name that will come to your mind will be of Swiggy or Zomato.
A person who will bring food for you from one place to another. This too is an indirect transportation business. Earlier, we had to use our personal vehicle or public transport to go somewhere. But today, the first thing we think of is, Ola, Uber or Rapido. A lot of such platforms are there in the present times. Which deliver things from one place to another and are into transportation business, directly or indirectly. So, you too can think of doing something big in this industry. Start doing a little brainstorming and see how you can make profits by investing in this industry.
The Billion-Dollar Education Boom:-
Every Indian has the dream of giving good education to their children and that their children grow a lot in life. And for this, they spend their entire life alongwith money, to give good education to their children. So, if you are also interested in the teaching sector, or you can directly or indirectly help children in achieving growth, Then you should definitely invest in education sector. Udemy started in 2010 and it has become a company worth 4 billion dollars. Byju’s started in 2011 and became a company worth 16.5 billion dollars in 2018.
Success Stories in EdTech:-
Unacademy started in 2015. And by 2020, it became a company worth 3.4 billion dollars. Similarly, there are ‘n’ number of start ups in education sector, like, Skillshare, Coursera, Eruditus, upGrad. All these companies have started in the last 5-10 years and these are amongst the top companies of education sector. There are a lot of ways to start in this sector. Like you can open a school, college, or start a coaching sector. Education sector is not limited to only formal education. This sector not about just science, math or accountancy.
Even if you are a good video editor, you can start teaching that. If you know to play guitar well, or you can trade well in stock market, From knitting a sweater to operating a rocket, if you have any skill, You can teach it to other people by opening an offline institute of your own or through online social media. And this will give you a lot of advantage. The biggest reason behind it is that without having any skills and experience, People start taking risks by investing a huge amount of money in business.
Food + Delivery = A Recipe for Success:-
It’s almost like jumping into the sea without practicing to swim in the swimming pool. If you want to become a successful businessman, you should first learn business from a place where you get to know the basics right. It is like practicing in the swimming pool first, where you need not worry about drowning. Once you understand the fundamental of swimming and practice it well, then you would be ready for the sea as well the ocean. How they established huge businesses and that too by remaining risk free. Without investing lakhs and crores of rupees, you can learn the basics and fundamentals of business. And you can also earn money.
The biggest speciality of India is, that its people are fond of food. At every 100 kilometers, the language changes and some local delicacy is found. About Zomato or Swiggy, they have developed a strong business by combining 2 booming sectors. Food and transportation. FreshMenu Faasos magicpin eazydiner And the list is endless. These are the companies that chose food sector and built a strong business in it. There are infinite business ideas in the food sector. Like food vlogs, food channel on YouTube, dieticians and nutritionists, home tiffin service, catering, cooking classes, Home made pet foods, sprout making, micro green farms, ice cream parlour, and the list again is endless. Now quickly start thinking how you can create something big in the food business. At the time of independence in 1947, the population was 39 crores.
Infinite Possibilities in Food Business::-
In 2022, that population has increased to 141 crores, which means that 100 crore people have increased in 75 years. So, the production of food grains too should increase. The number of consumers has increased, but the land will remain limited. To increase the production, the Green Revolution started in 1960. In which, Indian farmers were introduced to irrigation facilities, modern technologies alongwith chemicals, pesticides and fertilizers.
Health Sector: Always Needed, Never Saturated:-
Alongwith the growth of population, there came an increase in pollution and water contamination and ROs started being used in every household. And all these changes have become the reason for thousands of diseases in our lives. The diseases that we had never even heard of, have become common now. You can get to see patients of diabetes, thyroid, blood pressure in every family. In such a scenario, health sector is an evergreen sector, which can never shut down. In fact, the COVID pandemic has very well taught people, how important it is to have health insurance and policies.
Investing in the health sector can be really beneficial for you. Netmeds HealthifyMe PharmEasy Tata Health Practo Generic Aadhaar These are some successful startups in health sector, studying about which, you can take inspiration.