In fact, before starting a business, writing a business plan makes startup more likely to succeed. Having said that, in Nepal a few days ago a conference named, “next growth conclave” was organized with the aim to promote the working of a startup business. In order to run a startup business, the event like next growth will provide an opportunity to learn from the experiences and challenges in the views of different speakers’ experiences and ideas.
In Nepal, among many ongoing startup businesses some are Khalti digital wallet app, Sasto deal, Jama Nepal, Urban girl Inc. and Ek call home solution. Good at saying this, Nepal has many sundry sectors where startups are flourished by making maximum profits and this uplifts our country’s economy. For instance, it may be IT-related startups, hospitality-related startups, small business-related startups, agro based-related startups, franchise-related startups, or even an urban farming and waste management-related startups and the list goes on.
However, before going to startup businesses we need to consider a few things. First and foremost, it is about the time and money we put into research when it comes to what sector as we are going to invest in. Therefore, market research helps to determine the demand for 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 startups in a long go.
Similarly, pitchers (those who pitch ideas) must decide whether their business should be conducted online, in an office or home. This depends on the product or service being offered. Apart from this, a technology startup 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, startups need to consider what legal structure best fits their entity. Either it is a sole proprietorship or a joint.
These are the most important things we should take serious note in order to launch new products or services in the market. So, keeping all of these in mind, concern stakeholder in this regard should come forward to the most needed areas where they could cultivate their hearts, minds and souls to operate new sort of business.
The government should facilitate all the facilities at any point of time so that such startups will grow faster than ever before in the country. To quote Shiv Khera, “Winners don’t do different things. They do things differently” this remarkable quote will undoubtedly work for starting a startup at the end of the day. Lastly, startups are a great place for all the works today, and the future for sure will be even brighter.
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 