Every big company today was once small. Startup small, Startup right now.
July 11, 2017
India will soon be called as the "Land of Entrepreneurs." With whom is it really possible ? The big businesses ? Absolutely not! It is the small businesses who can actually bring a change in the economics of the businesses. So why late? Why are you hesitating to startup right now?! Confused about what to start? Reading this article may put a fullstop to everything and you might really think of starting a venture immediately.
Hmm, I know that people believe in statistics rather than anything else. According to a report by Business Today (India), Breakdown among top industries in India is :-
Retail (vehicles): 40%
Cloth manufacturing Industry : 8.75%
F&B : 7%
Service Industry : 6.2%
Automobile Industry : 3.6%
According to Indian government data, Micro, Small and Medium Enterprises contribute nearly 8 percent of the country's GDP, 45 percent of the manufacturing output, and 40 percent of the country's total exports. Small businesses in India create 1.3 million jobs every year and provide the largest share of employment after agriculture. They play a significant role in the country's GDP.
So, Thinking of something huge and starting nothing will never make you and Entrepreneur, people call you a Wannapreneur. Yes, it is going to be tough at the very beginning to startup something with a so called USP (unique selling proposition). But remember that, not all the 15,000+ sellers (small businesses) registered with ebay have USPs. It's a very simple case that they have started it earlier than you.
Always remember that, "If you don't find a USP in your product, then 'market' the product well." It may not work all the time for every small business but then, starting something is always better than starting nothing and just dreaming.
All the wannapreneurs are concentrating on a single point that, they want to do something in the online space. As an overseer and partner of various F&B eateries, I just have a message to say to all those people who are thinking in such way. "It is okay to have a website to your brick and mortar business if you can provide a great experience to your customers at your physical retail store or a food & beverage store but it's not a compulsion that you should focus more on building a hyper-local food delivery startup by having your own kitchen. How many such startups have really succeeded ?! Hardly no such startup has really made profits till date. How many food aggregators have really succeeded in building a startup which provides logistic service to food ordered from your near-by restaurant ? Hardly 2 or 3. I am surprised people are looking at this space rather than looking at the conventional business models where margins are higher and profitability is visible. I agree that, Scalability factor is there in models that i have discussed earlier but as i said you, hardly 2 or 3 succeeded in that space. What I suggest you is, Why not use these 2 or 3 startups which are aggregating all the restaurants and providing logistics as a medium and operate a conventional business model which generates revenue in 2 ways i.e, eatery and also delivery ?! Today, most of the budding entrepreneurs are missing out on these lines and are focusing more on building the next Swiggies and Zomatoes which may not happen as they already are raising huge rounds of funding and have a healthy customer base. So, starting up something will eventually let you think on such terms and you will take a u-turn by creating your own business model rather than following other's."
One thing is for sure, "You will only get to know about the depth of startup ecosystem once you dive into it." Don't waste your time still dreaming. And as Mr.Warren Buffet said, "Don't put all your eggs in one basket." Try different things at the very beginning, question things around and you 'll eventually find a path to Success.