How To Start a Business?
a detailed guide
Hey everyone! Welcome back to another exciting edition of Bharat.Inc!
Whether you’ve been dreaming of launching a venture or just looking for that final push, we’ve got your back. Stay tuned as we share tips, tricks, and everything you need to kickstart your entrepreneurial journey. Let’s turn those business dreams into reality together!
But before we do that, let’s start with a positive thought:
"I am surrounded by opportunities, and I am ready to seize them."
It shifts your mindset to recognize and look for opportunities rather than focusing on limitations or obstacles. Believing that opportunities are all around you can enhance your self-confidence and make you feel more capable of tackling challenges.
So, let’s get started now…
🎯 Top Headlines of the Day
Zomato shares dip nearly 1% following Antfin's ₹5,438.50 crore stake sale
Ola Electric Mobility’s CEO Bhavish Aggarwal has seen his net worth soar to Rs 21,000 crore
Shraddha Kapoor-Rajkummar Rao’s ‘Stree 2’ storms past ₹200 crore
📊 Market Pulse
Between 9:30 AM and 10:00 AM, the index showed strong upward momentum. The index rose from approximately 24,650 to 24,710, a gain of 60 points within 30 minutes, reflecting positive early market sentiment.Between 10:30 AM and 11:00 AM, the index experienced a brief dip, with the low touching 24,706.25 before recovering to 24,709.90. This dip of nearly 4 points and subsequent recovery indicates some market uncertainty or profit-taking.After the brief dip, the index moved within a tight range, with the high being 24,710.90 and the low at 24,706.25, showing a fluctuation of just 4.65 points. This suggests reduced trading activity and possible consolidation, signaling that traders are awaiting clearer market direction.⚠️ Hold UP
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How to Start an E-commerce Business in India?
India’s e-commerce is blasting off like a rocket, set to zoom past a staggering $350 billion in GMV by 2030. That’s a cool 23% CAGR, for those who love their acronyms. With retail on the rise, aiming for a whopping $2 trillion by 2032, e-commerce is riding the wave of urban sprawl, fatter wallets, and the rise of nuclear families (not the science kind—think small, modern households).
However, our retail game is still a bit wild and unorganized, but the modern retail slice (including e-commerce) is set to grow to 30-35% in the next 3-5 years, giving traditional retail a run for its money and shrinking its share to 65-70%.
So, it’s the best time to start your own business. But how would you do it?
We know you are aware of the basics, so are we gonna tell you how to make your brand stand out.
Leverage Regional Languages
India’s diverse linguistic landscape offers a unique advantage. Tailoring your website and customer service in regional languages can significantly enhance customer engagement and reach.
Offer Hyper-Local Delivery
Capitalize on the trend of hyper-local delivery by partnering with local couriers or using platforms like Shiprocket. This can reduce delivery times and costs, enhancing customer satisfaction.
Incorporate Sustainable Practices
Appeal to the growing segment of eco-conscious consumers by adopting sustainable practices. This could include eco-friendly packaging, green logistics, or supporting fair trade products.
Offer Subscription Models
Consider introducing subscription services or memberships to create a steady revenue stream. This model works well for consumables or products with repeat purchase potential.
Experiment with AR/VR
Enhance the shopping experience with Augmented Reality (AR) or Virtual Reality (VR). This can help customers visualize products better and reduce return rates.
Prioritize Cybersecurity
Invest in robust cybersecurity measures to protect customer data and build trust. Regularly update your security protocols to safeguard against potential threats.
That’s it for today, folks! We will be back again tomorrow with more valuable insights about ‘Bharat in Business.’ Till then, stay informed, and let’s start a business!
