Today’s most successful entrepreneurs like Mark Zuckerberg, Elon Musk and Bill Gates did not start their journey by being rich and famous. Most of them started from the very first step of the ladder. Facebook was created by its founders in a Harvard dorm room at a minimal cost. And most interestingly, Microsoft was formed two years after Gates decided to drop out of college.
As a budding entrepreneur, it is not mandatory to open a rich business first. One can also start with small ones too with a limited budget source. Here, we give you some smart business startups you can get started with your limited budget.
1) Breakfast Joint
The first thing that shutters our brains as soon as we get up early in the morning is what to have for today’s breakfast. Well, encash this and start a simple breakfast joint. This is because food as a commodity will always do well in the competitive market. All you need to do is get licensed from the respective authorities and rent a space. Remaining amount can be spent for buying groceries, raw materials as well as second-hand tables and chairs.
2) Tuition Centre
This is definitely one of the cost effective businesses to launch. You need zero starting investment. Most of the tuition teachers who are knowledgeable take classes in their own homes, thus eliminate any expenditure on rents. All you need to do is put in yourself as a tuition teacher and advertise yourselves on social media.
3) Mobile recharge shop
Even there are many online recharge platforms emerging now, there are still many who use the traditional way of visiting shops and getting their recharges done. So, you can start this business by renting a small shop and form ties with the network service providers like Airtel, Idea, Vodafone and note down their commission rates. Your overall cost will surely be lesser than 10 K.
4) Travel Agency
The travel industry is one of those businesses which witnessed a boom in the past few years. The cost-effective plan is to open a home based travel agency in a small part of your house by tying up with a host agency. You will certainly receive your benefits from the host. They can also help you earn higher commissions by keeping your costs low.
5) Fruit Juice Centre
Summer is on its way. Who would not like to relish with a glass of natural fruit juice? All you need to do initially is gain permission to open a kiosk near your place. Your costs include those of your raw materials, machines to make the juice and salaries of the employee(s) for preparing juices.
Well, get started with any of these simple ideas and do let us know in the comments section below if you have any other ideas of yours.
How To Win An Argument Without Fighting
Arguments are never fun. Whether it is with a loved one, a colleague or even someone you do not like, resolving conflicts is not an easy task. More often than not, in the heat of the moment, one tends to say things one regrets and the situation turns sour. If you find yourself in the throes of a really bad fight, then here are some ways you could win an argument without fighting!
1. Keep your emotions in check
Contrary to popular belief, staying calm and collected is not a sign of weakness. How many times have you felt really riled up in the middle of an argument? Where you get so passionate about the topic, you forget why you are actually arguing. The more you lose your cool, the more you antagonize your opponent, a move which is not a healthy solution for either of you!
2. Know all your facts
Before getting into an argument, ALWAYS know your facts. Incorrect information weakens your points and puts you at the losing end of the argument. Another important point to note here is to never bring up old conversations or fights. This makes you look like a grudge holder and no one wants that, right? There was this one dude at work who kept bringing up things from donkeys years ago and half way through the argument, everyone would just get up and walk off. Why? Because the environment would turn ugly and that was not appreciated even a little bit.
3. Respect and understand all points of view
One of the best ways to keep an argument at a decent tone of calm level is by understanding everyone’s perspective. Be as kind as possible, without sounding negative or condescending. I would make that mistake all the time and more often than not, I would be the one losing out at the end of the “discussion.” Tough life lesson learnt right there!
4. Avoid exaggerations
No. Exaggerations really do not work. Words like “always,” “everybody” and “never” have a negative connotation, rather than a positive one. They make your point unbelievable, while also angering with whomever you are speaking with. That is never worth the pain and effort.
Winning an argument is never about the person with whom you are arguing. If your goal is to resolve the conflict, then get your points across, with the bigger picture in mind!
How To Structure Your Priorities
At work, everything is at a high priority, how do you then structure your list of priorities with everything you need to accomplish. Knowing how to structure your priorities, is a key skill to have. To hit deadlines, you need to follow these steps and make your life easier, for you and your colleagues.
Write a to do list
Even though, you know everything you need to get done, it is best if you jot down everything with the deadline date. Do not worry about the order, just brain dump, small tasks as well as big tasks on to the list. From walking the dogs to finishing up a work related document that is due in two hours.
Identify what is urgent
After writing everything down, look at the things needed to be done the quickest, the work, if not done as soon as possible can have negative consequences. That work related document which is now due in an hour and fifty minutes.
Look at the leftover tasks, and identify tasks adding the most value to the company upon completion. You should be able to recognize what tasks provide you or your organisation with the most value. If there is cooking food on your list, it would be helpful to do that before embarking to do everything else on an empty stomach.
Rearrange the tasks
After identifying the work needed to be done first and the work garnering the most value when completed. It is time to rearrange the tasks requiring the most effort. The easiest way to do this is by employing a prioritisation method by Brian Tracy. It focuses on your feelings towards the task.
In the words of Mark Twain, if the first thing you do each morning is to eat a live frog, you can go through the day with the satisfaction of knowing it is probably the worst thing going to happen to you all day long. With this ideology in mind, get the worst task done first.
- Things you do not want to do and you do not need to do.
- Things you do not want to do but actually, need to do.
- Things you want to do and actually need to do.
- Things you want to do and do not need to do.
Remember you only have twenty four hours in a day, make sure you do not bite off more than you can chew.
5 Top Startup Industries Booming Currently
For a business venture to be successful, you have to make sure there is a need in the marketplace. Some brilliant ideas do not succeed if there is not enough demand or if it is the wrong market. Before starting, do enough research to make sure your plan is powerful and unique. This is a compiled list of booming startup industries to help guide you in the right direction.
Beauty Tech Industry
The beauty industry is currently booming on its own. The integration of tech into the beauty business is creating so many different business opportunities. There is a wave of new and innovative products to be explored. IBIS a global business intelligence leader specialising in industry market research according to them, the overall beauty market is expected to jump to $ 27.8 billion in 2022 from $ 22.1 billion last year.
Being the largest segment of the population, the baby boomers are ageing. There is a strong need for innovative ways to make elderly care better and more efficient. Investing in this growing industry would be a good decision as people are going to keep growing older. The industry generated more than $ 50.7 billion in revenue in 2017, a figure IBIS expects to increase by about 42 % till the year 2022.
Leisure and Recreation
Due to the ageing population again, the retired baby boomers will have plenty of disposable for leisure activities such as sports, entertainment and recreation. The younger generation are also continuing to spend at increasing rates, which is creating a booming market for leisure and recreation activities. This push will expand the market and increase the growth rates of this sector by over 30 %.
This industry might not sound very attractive, but the increase in fast food culture over the past five years, food trucks and food vendors have become exceedingly popular. By employing an innovative spin on the fast food industry, you can create many different businesses. This work culture demands fast food on the go, this industry is only going to prosper. One big advantage, of this business, it is easy to switch the business with fewer losses.
The supermarket industry is comprised of retailers selling diverse food. They can innovate the way a supermarket works by introducing different products or providing different services which can make the shopping process easier. Over the next five years, this industry is supposed to boost up more. It is the best chance for new entrepreneurs starting a business in the market.
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