India: Business Consulting | Property Solutions

Having read a lot of those positive P’s and S’s in several articles & books, I wanted to mention something on those W’s.Yes! There are some negative W’s that creates a lot of damage for any start-up business. Being an entrepreneur, I too had faced the consequences on the same. Let me tell you about those 3 W's –

The 3 W’s are Wrong Product, Wrong location, Wrong Person.

Well, there are seem different but the fact is they are interconnected to each other. Even if one is better and the other is worse you get the damage. Let us say, you have designed a good product but the market for buying the same is not there in the particular geographical location or else even if both are fine then the sales person promoting same is not confident enough to explain about the product.

Another instance where start-ups fail, can be that the organization might be having excellent sales persons but the product is not fine & when location is good then it’s getting tough to achieve sales. The market might be choosier on having the perfect product with no flaws.

I say that the 3 W’s should be converted into 3 P’s i.e. Perfect Product, Perfect Location and the Perfect salesperson for the job. These three things are important for any start-up business to get successful. Talk to us to know more.

Starting a business…

Did you know that out of 10 business start-ups, 8 out of it fail to maintain sustainability in the long run? They eventually go ahead on either closing the business or selling it. You may be wondering why or what may have caused this? Well several of them jump in without properly planning or having a concrete business plan.

My own business has seen several ups and downs and so I felt of sharing some 4 tips valuable for readers who are venturing into starting a business in India or abroad.

Tip 1:      Research, Research , Research before starting a business
One should understand thoroughly about their product/service, Target location and prospective customers. You need to understand whether customers will buy your product or service in the defined territory. Facts & opinions needs to be gathered related the above that gives a concrete understanding.

Tip 2:     Licenses  and other permits required for starting a business            
Does your service require any License or other Govt approvals? Have you registered your business name? Does your business come under a sole proprietorship or Partnership act? Check these out.

Tip 3:      Write a business plan
A Business plan should be written that mentions about your Team, vision, mission, how you manage or run the business, financing, sales forecasting & achieving the breakeven point. This will give a clear picture if you are starting a business to know what resources are required to achieve success in long run.

Tip 4:        Marketing Plan
A good marketing strategy helps you reaching your goals and your estimated turnover. You need to figure out how you plan to make your product reach the customer and make them interested for knowing more.

"Shriyans Management Consultants P Ltd helps people involved in start-up business or entrepreneurs starting a business in India. We provide marketing strategies that covers direct as well as Internet marketing."