Business Ideas | | Startup India Consultants

How to price your Product…

Startups which don’t know the value of your product and price their product often frizzle out in the market. The price of the product depends on the supply of it and certain demand of it. Demand increases as price goes down. But things are not this simple. When you are bringing something new in the market, you have to be extremely careful while deciding the price. It should be your priority to get the price element right, at first go itself.

Keep the following factors in mind while pricing:

What is the material cost of your product?
This includes the amount of money you spend on raw materials. Whether you are manufacturing a product or creating a product online, you must exactly know the various material costs incurred in the process. For example in manufacturing a product you might incur expenses on tangible materials, while in developing the software you might have to pay license fee.

Know the Labour Costs
It includes both the wages paid to workers and numbers of hours required to make the product. If the price is kept too low, you might not be able to pay the salaries to workers and get through the cost of the product.

The Overhead Cost

We have often heard people saying, try to keep the overhead cost as low as possible. Overhead cost can be everything from web hosting to phone bills to electricity bill. Keep in mind these overhead costs while pricing your product.

Respect the Industry Price
If your product is priced significantly low or higher than the market price, you either will have to change the price or alter your profit expectations.

Never forget the price of your product also influences the perceived value of your product. People tend to believe that higher priced product is better than the low valued product. So price often serves as the proxy for quality of your product.

One can never be sure about the customer wants, try delivering various products at similar ranges. If necessary let the customer decide the price of your product, this way you get the feedback too.
Know the pinch pint of your product and make them emotionally compelled to buy it.

What about Decoy Pricing?
Have you ever thought about McDonalds economical meal? Why do they offer more of food at comparative low price? That precisely increases their sale. Decoy pricing might be a suitable option for your product too.
If you wish to be more careful while pricing your product, you can seek advice Startup Indian Consultants and give your product a kick start.

Difference Ways to Finance your Start-Up

In this information age, getting knowledge about things has become a necessity. If you are someone who has a new business ideas, then you really should be eager to gather resources on how to finance your business. We at Start-Up India Consultancy, are providing people with an opportunity to get trained by our experienced financial team who can guide you to any kind of financial issue. But first, we need to see what the difference ways of funding are. Following are the tips for a small business as we think that if you want to make an enterprise you should start from small.

Credit Cards – Using your credit card for a small business is an ideal start for your idea. According to surveys, out of every 5 small businesses, 4 are started using a credit card. The flexibility of credit would give you just the right amount of time to start your new business idea.

Personal Savings – For this, you need to plan your job in such a way that you make your personal savings enough for you to become an entrepreneur. Using personal savings can be a perfect thing as you won’t have to worry about returning money or the risk of getting fail with someone else’s money.

Family and Friends – Family and friends are the backbone of your personal life. You can easily ask money from them but that should be an interest-free loan. You should also tell your business plan frankly to them as they would be funding your company. Taking money from these people won’t put any external pressure on you and you can even ask for some time.

Reinvesting Profits – Many of you would have probably read self-help books about money. One thing that every business book tells is that build your assets. Indeed building your assets can provide you a stress-free future. You can invest money from assets in your new business idea. Monthly income from source other than your job can be of huge importance for the budding entrepreneurs.

Small or Personal Loans – Taking a personal loan from your current company might also be a good idea. Many companies give personal or small loans to their employees as a reasonable rate of interest. You should be active enough to utilize these opportunities. More so, the government also creates a new way so as to help people in their business ideas.

Apart from these basic ideas, the government of India have launched a campaign ‘Start-Up India’ to help new people spread their businesses. StartUp India Consultants are following on the footsteps of the government and aims to help people.

How to Become a Leader of a Start-Up

If you have a new business idea that you think can change the course of your future for good and you have a team to transform that idea into a reality, then you have to acquire some leadership qualities. Many a times people confuse a leader with a boss. There is a multitude of difference between a boss and a leader. Boss is nothing but a person who have some preordained script and roles. Being a boss, is a job to them and that’s why bosses can never become a good leader. They connect their hierarchal authority with it so that their careers and personal goals can reach a new height.

Leadership is nothing close to being a boss of people. If you are planning to lead your company, first and foremost thing to do is not to become the boss of your team. Rather, you can claim to be the captain of your team. Culturally, the term ‘captain’ brings a feel of work with responsibilities and also a good team spirit, but with the rise of the corporate world, being a leader comes in the category of a job. You should realize that your company will be run by your team and thus it is very important to guide them into the right direction. Creating a sense of ownership of the company in your team can be a huge bonus as people can work as if it is their company.

Being an entrepreneur means gathering resources and you should be able to dig deep into things so as to make your team be a part of scavenging a resource. An entrepreneur can never build an enterprise if he sticks to the 9 to 5 work hours. Starting a business itself comes up with hectic challenges that one needs to be flexible, resourceful and eager to make work done. Starting a business is not an administrable work, but an adventurous one where gathering information with making things is a priority. You should have an excellent thirst of knowledge if you are planning to guide a new business ideas. Also, appreciating your team’s talent is a must if you want to create an environment fully focused on work.

We at StartUp India Consultants are offering services which will help you become an efficient leader of your company.

Five Things to Think before Setting up Your Own Business

Begin with your own business isn’t as easy as it looks from the outside. It’s quite stressful and practically demands your complete core interest. On the plus side, it can likewise be a satisfactory experience professionally and personally.

Go with Self-Inventory

When it comes to commence a business any person who dares to take a step with utmost determination can easily start on with it. This isn’t to imply that your idea and approach are not splendid. It just implies that you might not have the identity qualities to handle propelling your very own organization. Therefore evaluating your own self may boost you confidence.

Build up a Thought

Don’t simply begin a business in light of the fact that something is in vogue and you think commercializing it will profit. Build up a business idea that you’re energetic about identified with something that you have involvement with.

Market Identification

Despite the fact that you may have distinguished some enthusiasm for your business, you have to adhere to more homework. Survey the business sector, focusing on the clients well on the way to make a buy. Perform a focused evaluation.

Maintenance of Budget

When you decide the amount of cash you’ll need to work with, make sense of the amount it will take to build up your product or benefit and make an efficacious marketing.

Share your Thoughts to the Loved Ones

Your closest and dearest will doubtlessly be the most honest with you about your business. Try not to falter to look for their recommendation and proposals. They will also assist you to run an impactful business. Suggestions and diverse ideas help boosting one’s moral.

What Do You Need to Start a Business?

In this corporate-ridden world tough challenges always there for Startup businesses. Here we are offering you some efficacious steps that you need to take before opening a business.

Planning Process

If you will look for outside financing, a marketable strategy is a need. Be that as it may, regardless of the fact that you are going to back the endeavor yourself, a strategy for success will help you make sense of the amount of cash you will require keeping in mind the end goal to begin; the main priority when, and where you are going.

In the least complex terms, a strategy for success is a guide—something you will use to help you diagram your advancement and that will layout the things you have to do with a specific end goal to objectives. Instead of thinking about a marketable strategy as a weighty record that you’ll just utilize once (maybe to get a credit from a bank), consider it an approach to formalize your goals.

While you will possibly utilize your marketable strategy as a component of your pitch to financial specialists and banks, or utilize it to pull in potential accomplices and board individuals, you will essentially utilize it to characterize your technique, strategies, and particular exercises for execution, including key dates, due dates and spending plans, and income.

Get Financed

Contingent upon the span of your endeavor, you may need to look for financing from a “blessed messenger” or from a funding firm. Most little organizations start with private financing from charge cards, individual advances, assistance from the family, et cetera.

When in doubt, other than your start-up costs you ought to likewise have no less than three months of your family’s financial plan in the bank. So as to fund your organization, you should coordinate the organization’s needs to the proper financing alternative.

Set Up Shop

You’ve done it—or, pretty much. Your strategy for success has been laid out, the cash is in the bank, and you’re prepared to go. You have a considerable rundown of things you have to do: Find an area. Negotiate leases. Purchase stock. Get the telephones introduced. Have stationery printed. Employ staff. Set your costs. Set up an amazing opening gathering.

Starting Up a Business from Scratch

Success of each Startup relies on a novel business thought. Today numerous youngsters endeavour to get a decent business thought that will convey success to them. Keeping in mind the end goal to help them, I am here with 4 New Unique Business Ideas.

Custom Make Gift Store
Gift store of customize gift is another great business thought to begin with. This idea is low investment business as you don’t require even office space you can begin this business from your home.
We have a kind of tradition to give gifts on every event and celebration. Gone are the days where individuals use to give card or customary gifts, today’s trend is to give tweaked gift as it pulls in more consideration along these lines we feel specially custom make gift store can be great business idea.

Event Management
Event Management organizations are the ideal small new business ideas for anybody intrigued by helping different organizations and people to arrange and oversee huge occasions. This business requires planning and management capacity.
There’s unquestionably a need in the business for event management as organizations continually have events to market items and services. Keeping in mind the end goal to make this occasion fruitful they regularly take services from expert event management firms.

Consultancy and Contracting
To wrap things up consultancy and contracting is great and effective business thought. This business requires skill and domain knowledge. This business requires very little business capital.
There’s a developing requirement for advisors and temporary worker in all fields including building, advertising, and exploratory commercial ventures. Huge organizations are even prepared to offer extremely lucrative payment for good specialists and temporary workers.

Web Designing
This business thought is for IT professionals. In the event that you are IT proficient you can begin web designing business. If it’s not too much trouble take note of that this business requests aptitude, imagination and diligent work.