A START UP STRUGGLE ..
It was July 2015 when we like others jumped off to start our new business venture and become an Entrepreneur with no plans, no ideas ; just a wish "Start Up" and a dream .
We never realized the importance of a proper business plan or funding options to execute the process. Since I had been working with Travel Industry for quite a long time, so decided to go ahead with the same profession rather than creating a new idea and follow "hit and trial" method .
Breakbag Holidays Pvt. Ltd. ( breakbag.com ) ,a travel based start up formed on 23rd Oct 2015 with one goal " Customer Service " - as this is the only point which will bring business to your organization.
The struggle begins ; promotion, marketing with less funding really becomes difficult and so we faced the same scenario and day by day rather than developing new ideas for start up ,we develops plans to sustain in the market .
The struggle continues, but through references we started making clients from various parts of India and we too took help from different travel leads provider and but one thing which we kept maintaining is " Customer Services " which really doubled our growth in this sector .
Again a new problem arises "Accounting" & " Taxation" ,during start up no one cares for the same and at the end ,the profit you earn gets spent on penalties due to failure of compliances.
During this phase we experienced different customer and this experience helped us to develop a new idea which can be a part of our business and great use for frequent travellers (Idea to be shared later ) .
Today we are working as "Travel Agent" in the market we are satisfied as we have have a back up earning and we are working on our idea too for funding .
During the process I quit my highly paid job on May 2016 .
So few thing I would like to advice ,in case you are planning for start up :
Never start up with an idea in which you are not experienced .
A proper business plan is always mandatory.
Customer database is always required .
Focus on "Customer Service" and "Customer Retention " rather than profit in the initial stage .
Accounting,Taxation and Company Compliances should be on time to avoid penalties .
Lastly, better follow“no profit no loss” rather than “loss” and never ever be hopeless . All the best for your new venture .