Firstly a person, who wants to
starts a business, should have the courage to face the challenges and losses in
order to achieve success. He should be Risk taker, passionate, curious to know
how things work, imaginative, persistent, hardworking and self-confident,
strong people skills and he should have a pre definite goal to achieve.
The business idea has to be
unique in today’s world, in order to give tough competition to his competitors.
Ideas he can get from the existing products and services, the people,
distribution channels or any other source. The three things entrepreneur needs
to have 1. Lawyer- to make him aware of the rules and regulations, 2. Patent –
to make his product his own, 3. Insurance – to bear the uncertainties.
Having a unique business idea
will help to attract customers. You can take an example of Facebook or
Redbus.com. Uniqueness is the key to success because if you are offering the
same thing then the customers would not be attracted as they already have their
trustworthy brands, and if you are not innovative then you have to cut your
cost which will be difficult at the initial stage. Hence come out with
innovative ideas and your business will definitely bloom if know how
intelligently to market yourself.
Failure should not affect the
entrepreneur, the best example of failure to success entrepreneurs – KFC’s
Colonel Sanders developed a “chicken recipe” which he took to different
restaurants got rejected 1000 times but still he did not lose hope and finally
he started up with KFC and has reached heights. A unique trademark will also
help your brand to gain recognition. So, if you have a unique idea, unique
business plan, an attractive trademark, then you are all set to “START UP”.
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