Before going to start any kind of business, writing a business plan makes startup more likely to succeed. Said that, in Nepal recently NEXT Growth conclave was organized with the aim to promote the work of start-up business. In order to start-up a business, the event like Next Growth will provide an opportunity to learn from the experiences and challenges of different speakers’ stories, while they share with like-minded people.
Among many (Khalti digital wallet app, Sasto deal, JAMA Nepal, Thread paints store, and Ek call home solution) these are some of the ongoing start-ups businesses in Nepal. My only primary concern is that interested people can also learn from it at a time while they are doing well enough in their respective start-ups. Good at saying, Nepal has many virgin sectors where new innovative start-ups may be possible in terms of gaining maximum returns and uplifting our country, Nepal. For instance, wilderness tourism sector, cultural and heritage sites, mountain climbing, trekking, bird watching, bungee jumping, paragliding among others.
However, before going to start businesses we need to consider a few things. First and foremost, it is the time and money we put into research when it comes to what kind of businesses as we are going to start. Therefore, market research helps to determine the demand of a product or service. On top of this, startup requires a comprehensive business plan, outlining mission statement, future visions and goals as well as management and marketing strategies, will make successful start-ups in the long run.
Similarly, pitchers (those who pitch ideas) must decide whether their business should be conducted online, in an office/home or store. This depends on the product or service being offered. Apart from this, a technology start-up selling virtual reality hardware may need a physical storefront to give customers a face-to-face demonstration of the product’s complex features and so on. Most importantly, start-ups need to consider what legal structure best fits their entity. Either it is a sole proprietorship or joint ownership.
These are the most important things we need to take serious note while lunching new products or services in the market. So, keeping above all in mind, business people should come forward to the most needed areas where they could invest their heart, mind and soul to operate new sort of business.
To sum up, the government should facilitate all the facilities at any point of time so that such start-ups will grow faster than ever before in the country. Lastly, to quote Shiv Khera, “Winners don’t do different things. They do things differently” this remarkable quote will undoubtedly work for starting a start-up, too. Let us we should start our own start-ups, rather being employed with other’s business.
Finally, I’d love to know what your opinion is. This post is for you to add-on to, if you like to do so. Stay safe and warm! Thanks for reading and have a great day!
MOTIVATION 