How To Start a New Business with 30 Lakhs

How To Start a New Business with 30 Lakhs

Recently one of my friend asked me this question.Well, the first step to start a new Business is that, You choose a Niche. What most of the people do is, they start their new business in the industry which is hot favourite. But this is a mistake.

Ideally you should start a Business about which you are Passionate about. So First of all find out your PASSION & develop a Business around it and believe me, you will never fail. The reason is very simple. The initial first few years of any Business are very hard and it is the Entrepreneur’s Passion which drives him through this tough period.

If you are not passionate about what you do than you can not stay persist. So first of all find out your passion. Just ask yourself that, what you like to do for the rest of your life even if you don’t get paid?

The answer is your Passion. And now, you have to develop a Business around your this Passion. This is the most important step behind the success of any Business. Most of the Businesses fail before its 5th Anniversary because they are developed only to make money. They are not developed around the passion and that’s why they fail.

Now, once you decide your Business, Invest money to build a successful Business Plan. It is advisable that before starting a Business you should have a proper Business Plan on hand. However, many successful Businesses started even without having any Business Plan. But if you have 30 Lakh of start-up capital than it is advisable to have a complete Business Plan.

Thus, follow this Simple advise and you can develop a Fortune 500 Business with just 30 Lakhs of capital on your hand.