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Everything you should know about startup!

Are you a startup entrepreneur? Are you willing to come with your own startup? Well, the youth nowadays are more inclined towards a startup. One of the basic reasons that attract startup is a passion for achieving something. They believe that startups offer wings to their dreams. But do you know everything aboutstartup India?

Yes!Startup meaningdoesn❜t only define coming up with innovation. In fact, you just know a bitstartup business.The startup ecosystem is huge! And there are many aspects of startups that you must know about.

Besides, offering perks and power, startups also helps a nation to develop. The innovation of existing services/products increases its demands. And in result, it generates more revenue. Not only the business earns massive profit, but the nation in which thestartup registrationcommences also boosts the economy. If you are looking up to operate like a startup, here is everything you must know about it.

What is a Startup?

Before you start operating as a startup, you must know what does startup actually means. Well, the startup is a nurturing company that operates to innovate the existing product/services. The company comes with one or more entrepreneurs who aim to bring new products to the market. However, the startups are more like shoestring operations that come with funding from entrepreneurs.

Further, startups also are those ventures that usually focus on a unit product. Rather than having a range of product/services, they develop a single product and introduce it to the people. So, if you aim to operate like a startup, you must innovate an existing product to introduce something new to the market.

In India, startups are boosting in rapid numbers. And that is only due to suitable startup operating conditions introduced by the government. The government in recent days is coming with new benefits that are opening up new opportunities for startups. Starting from funds to income tax relaxation for three years, the government offers many benefits to India❜s startups.

Now, why do you think the government offers so many perks to the startups? Startups are those businesses that can rapidly boost up the economy of the nation. Innovativestartup ideastake the world❜s market by storm. And this, in result, helps a nation to boost its economy.

List of startup companies

Now, you are clear about the meaning of startup; you would be more anxious to know about some startup businesses that excelled in the market. Well, every year, several startups get registered in India. They bring in new products that change the way of doing a certain thing.

For example, ghost kitchen, cloud kitchens, and food delivery services are now defining the new possible ways of acquiring prepared food. And they are all startups who comes only one aim. That is innovating a product/service. So, here are the names of some successful startup businesses that are now popular among people.

• Wow Momo
• Ola Cabs
• Zomato
• Paytm
• Myra
• Cure.Fit
• Razorpay
• Acko General Insurance
• Cars 24
• Daily Hunt
• Meesho
• Zoom Car

How do I start my own startup?

Giving life to yourstartup Ideasincludes many steps in it. If you are preparing to operate as astartup India, you have to follow standard procedures to enrol yourself as a startup in India. But apart from the legal procedures, you also need to follow some steps to start your own startup. If you plan to come up with your own start-up, you must follow the steps you must follow.

Make a business plan

This is the primary step in starting any business. So, whether it is about a traditional business orstartup business,you need to come up with plans on which you will operate. Without having a plan, you cannot move ahead with a startup business.

Secure funding

Once you have an active plan, the next step in the process is collecting funds. You must secure funds to start your business operation. However, accumulating is now easier for a startup in India. This is because; government is now offering funds to the startups to start their business.

Find a physical location

Finding a suitable location is the next most vital step. You have to find a location that will offer you abundant of raw materials and resources to operate.

Build a website

Having a website is a basic requirement for enrolling as a startup in India. So, you must create your own website to sell your products/services.

Create a customer base

Once you are done with enrolling yourself as a startup, you need to create a customer base. You have to acquire the customer❜s interest by showcasing your products.

If you want to come up with your own startup, you need to follow all these steps.

What are the types of startups?

Now that you are clear about the steps involved in operating as a startup, you must also know about the various kinds of startups. Yes! You are reading it right. If you think startups have no types, you might be wrong.Startup meaningcomprises of several types of startups. So, here are six different types of startups that you must know about.

Lifestyle startups

These are the startups that are introduced by freelancers. That implies; they prefer earning without working for any company. So, they come up with their own startups where they offer products without hiring any employee. It includes freelance programmers, coders, designers, and many more.

Small business startups

These are usually the startups that indulge themselves in operating as a small business.All the products they deliver are usually for a smaller market.

Scalable Startups

Scalable startups are those startups that aim to touch the sky. Their products are usually unique and are widely accepted by consumers.

Buyable startups

These startup services offer mobile and web app solutions that can be bought. It includes all the lifestyle apps or gaming apps.

Large company startups

These are usually the startups that change the way of life. The innovations that they bring are so unique that it forces all users to use their product.

Social startups

These are the Startups that comes with the only aim. And that is creating an impact on society.

Do startups make money?

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

Agility

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.

Efficiency

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.

Flexibility

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.

Simple registration

To make it easier for the startups❜ Indian Government offers mobile and a digital platform to enrol as a startup easily.

Cost reduction

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.

Easy funding

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.

Simplified compliances

The government also brings simplified compliances for the startups to operate without any hassle.

Easy exit

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 below-mentioned steps:
  • Create a business plan
  • Accumulate funds
  • Find the right team
  • Search a suitable location
  • Create your own website
  • Research everythin

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