Yes! Startups in India do make money. During their initial days, they make money out of their innovative products circulating to the market. But once they acquire market, they can convert into private and public limited company. It helps them in making money by selling their shares. On the other hand, if they build a great market reputation, share investors will invest in their share. And eventually, they can make a lot of money. However, to build a reputation, they have to withstand in their initial days. What is the difference between startup and entrepreneur? If you think startups and entrepreneur are both same, you have the wrong information. This is because; startups and entrepreneurs are two different spheres. Although startups need an entrepreneur to commence a business, both have a different meaning.Startup meaningdefines that it is a business operation that always aims to create innovation in existing products. An entrepreneur may be the individual behind the success of a startup, but other business also does need entrepreneurs. And entrepreneurs always have a financial aim behind their target. The startup only aims in innovation and inventions. So, this is one of the major difference between startup and entrepreneur. Can I start a startup alone? If you think that you can build your own startup company by yourself, you can do it. But for that, you have to accumulate more funds. Funds are the most vital requirements in any business you do. Besides, if you start it alone, you need to develop robust ideas and act as per the plans. However, having a helping hand always helps. But it is not mandatory to have a partner in startups. You can also start a startup alone. What startup can I start?
If you are searching forstartup ideas,there are a plethora of startup ideas that you can start with. Nothing can offer you the satisfaction that you get in working for yourself. So, here are some startup ideas that you can start.
• Buying website
Buying website is like investing in a gold mine. In recent days the website is the most basic requirement for every business. So, you must buy a website and sell it at a hefty price.
• Become an online coach
Providing online coaching is also an innovative business plan. You can start your online classes and offers courses online.
• Online Assistant
Internet is the new market place for people. People nowadays are using online platforms to avail of any service that they want. So, you can offer an online assistant for repairing, servicing, and many more.
• Graphic designing
This is a business that comes with new and unique products every day. So, if you are someone who is more interested in designing and arts, you can start your graphic designing startup.
• Website and application development
You can also develop startups that offer website designs and application development. In fact, these are the most successful startups in recent days.
• Event and project planning
Event and project planning are also a business that delivers unique products every time. So, you can start as an event and project planning startup.
• Custom T-shirts store
You can also open a garment store, online/offline that offers customized T-shirts to consumers. So, these are some of the startup ideas that you can start with. However, there are several other ideas, as well. If you think your product is innovative, you must start with your startup.
What defines a startup?
Startup in India means a business model that works to bring innovation. It is usually a nurturing business/young business model that comes up with unique products. The products developed by startups offers a new identity to the business. For example, Zomato in India came with a unique service. And that is delivering prepared food from restaurants. This became immensely popular for its unique service. So, startups are those business models that redefine a certain process. Further, startups also have more than one entrepreneur. This is because the process involved innovation requires a lot of steps to complete. So, usually, startups have more than one entrepreneur. What is the startup advantage? Startups in India enjoy two types of advantages while commencing business. The first one is the perks that they enjoy for operating as a startup. And the second one is the type of advantage that they get from the government. So, here are some startup advantages.
Advantages for operating as a startup
Usually, startups are smaller businesses. So, they get greater agility to make improvement and changes to their business. They can come up with new products and services to adapt to the new market conditions.
All those companies that have established have higher administrative overheads. But on the other hand, startups do not have administrative overhead. So, they come up with products in a more efficient way and cost effective way.
• Team culture
Startups usually are those business modelsthat work with the skills of several passionate people. They usually believe in bringing something new to the market. So, this passion offer boost to team culture in startups.
Startups in India while operating enjoy flexibility. The demand for the product boosts them to work day and night. Advantages that startups get from the government
Besides the operating advantages, there are certain advantages that startups enjoy under various government schemes. So, here are some perks that Startups enjoy from the government.
To make it easier for the startups❜ Indian Government offers mobile and a digital platform to enrol as a startup easily.
Besides enrollment,the startups in India get a cost reduction as well. The startups can get their intellectual property rights and a fast examination of patents at a reduced cost.
The Government is trying its best possible to boost the startups in India. And that is why it is offering funds to the startups. So, registering as a startup offers you access to capitals from several banks and financial institution.
•Three years of tax holiday
Any startup that is enrolled in India gets a major benefit. And that is government exempts all the startups from paying income tax for three years. So, if you register as a startup, you will get three years of relaxation from paying tax.
The government also brings simplified compliances for the startups to operate without any hassle.
If the startup wants to exit, the government offers them an easy way to exit. You can close your startup easily within 90 days from the application of winding up. So, these are some of the profits that every startup in India enjoys. If you also want to enjoy all those benefits, you have to register your business as astartup business. Is a startup a small business? Initially, startups are small business models. They start small with a small team in a small place. But eventually, once they acquire the market, they are no longer a small business. This is because; startups are those businesses that always aim to grow. And there are no limits/restrictions on the growth of a startup. So, if you think that startups are small businesses, you might be wrong. Everything depends upon the initial funds that you will get. Further, starting small is always a greater idea. Once you acquire the market, you will witness major growth. How much does a startup CEO make? The CEO in the startups always looks for innovation. They might not be inclined towards financial goals. So, it doesn❜t affect them. However, if you go in a more specific way, you can find those startup CEOs making about INR 3.1 crore a year. The CEOs in the Startups take a huge salary in India. So, if you are willing to become a Startup CEO, you can start implementing your plans. How much do startup founders get paid? The startup founders in India take their payments on the form of salary. So, if you are new to the market, you cannot think of a hefty salary in the business❜s initial days. But once the startups start witnessing growths, the founders also get paid in crores.
In fact, there are many founders of startups who are getting paid in crores every month. So, if you want to know how much a startup founder gets, you must know how much business does it commences.
How do I open up my startup?
If you want to open up your startup, you need to follow the
- Create a business plan
- Accumulate funds
- Find the right team
- Search a suitable location
- Create your own website
- Research everythin