is Your idea A startup or small business?

Find out What Actually  Your Idea is?

Hey, ENTREPRENEURS  raj here! I m back with another blog To help You in Your Entrepreneur Journey! Today We will discuss Your Startup idea! 

Currently, In India Startups are Growing Faster than the bullet train.;) One of the biggest reasons behind this is the Indian government and India's Youth .. Government taking a big step to making India Startup hub. StartupIndia is 

One example. Now days getting funds for startups are easy. Lots Of startups taking Massive funds to scale and grow their operations in different countries.

Recently OYO raised  1.5 billion To scale in Japan. 

This is huge right! For these reasons, People From various fields want to start their own startup and want to make their company of billion dollars! Like engineering, Design, Doctor, IT specialist, etc..

Idea:

We All Have Lots Of Ideas To Start A startups! But the real problem is all ideas Are Not Startups! Let me explain-Why?

Before that let's see A quick Agenda What You Will Learn From this Blog-

1-Difference between business vs Startup?

2-Why startups are Most Unique!

3- 5 The most common qualities of every startup.

4-Recommended  books and resources For startup ideas You should Learn.

5- Conclusion 

Let's dive into This:

Small Business vs Startup

Small Business vs Startups:

Guys Let's talk about the Small business first. Businesses are a type of economic system where goods and services exchange for money.

Ex- We all have shopped around our house. Like a fast-food store or a grocery store, they all are doing business. 

In business, someone sells as seller and someone buy that same time with direct 

Hand to hand.

Small Businesses are only Focused to earn money from the same existing customers. They operate in a very small area. Around 4 to 5 k.m. They sell the same thing which their competitor sells. 

They earn a very limited and low profit. They don't aware of scaling and expand their business.

They are unable to make something different. They followed the same path which is already others doing. They have small resources.

IN other Hand Startups are made To do something different and Problem Solving.

Startups are always looking to solve a big problem with their product and service

Their Mindset is they, Want to grow a bigger consumer base across the country and other continents as well.

There Focus is customer-satisfaction. They trying to create value in people's lives and create wealth for their startups rather than just earning money from them. Their Idea is about to capture a big market.

There are products or services that are most unique in some cases otherwise problem-solving. Startup deals with product recall values so that customers should retain. 

Note- Now Don't think that small businesses are not good, I just say what's the difference between them.

You can also start a small business in your local area if you have something idea. 

2- why startups Are unique?

If you Familiar with startups you Might be noticed, All startups are doing some unique things in different fields. Startups like Databrick, slack deals in b2b using Machine Learning and Artificial Intelligence. There are more examples Like Tesla, spaces, open AI, etc. These are the most futuristic things nowadays which only startups can do.

startups are Making easy to Complicated things which are mostly impossible in the past year or decades. This is directly impacts people's life. That's why startups are unique. And they always try to provide things in cheap.

Startups are more likely to solve the problem which people are Facing. So that customers Can Add Value into their Life.

In India, lots of startups in million even billion dollars, ex- OYO, OLA, SWIGGY, ZOMATO there is al of guys.why these companies are so big Now because of they able to create Values in people's life.

You Also need to Find out is Your idea also some unique Factors. That can help peoples?

Startups are rapidly evolving For do more better things with their idea.

5 The most common qualities of every startup:

1-Problem Solving.

2-Innovative and Problem Solving.

3- High-risk factor

4- Solve existing market problems in a perfect way.

5-Profitable and Scalable business model.

Guys we already talked about some of these points in the previous paragraph.

Let's understand the rest. In India, Most startups are Failed in 1st year! It's surprising right, but it's true. because of Risk. There are a lot of factors like lack of funds, not a good team, faulty business model.

Examples of failed startups- FabFurnish, Stayzilla, Auto raja, Ask me, and many more.

If your idea will relate to this, then I might be sure your idea is big.

Solve an existing market problem in a perfect way:

There are lots of Problem, some startups are trying to solve them, can you solve better from them? If yes then Your idea is a great One.

Let's understand this with an example!

There was lots of search engine before Google ex- yahoo, bing, excite and lot more but why google is now king of the search engine? If used yahoo in past days, you might see there are lots of adds are running on the home page, and other stuff is shown. 

as you can see Yahoo! UI, and UX Totally out of control, and also because of a poor algorithm, people were not getting their right and appropriate results. and this was a big problem at that time.

Google worked on it, and boom as we can see where google Now.

What they actually did?

They made a simple, search bar Only For search. There is nothing. The user will only see an empty bar where he or she can type their queries. Also, they worked on their Algorithms so people can get better outcomes.

Now if anyone wants to know something he or she will directly go to Google.

Google understands the real existing problem and worked on it to make it better.

Like that you need to understand the real existing problem and how can you solve it better than your competitors.

And last but not least.

Profitable and Scalable business model:

If your startup will not be able to scaleable and profitable then it really sucks. You can't run a startup without funds. And you can't scale and expand it to other places then your ideas are a small business.

Find out the revenue path of your 

Startup. Research how many ways are there to make your work Profitable.

4-Books and Resources To About Startup Idea:

When it Comes To Books Some Peoples Fill boring. But listen to Guys Those who already Succeed As an Entrepreneur After lots Of year Hustle, Struggle, Mistakes, All things are Written In those Books. 

You can Know all the mistakes that they did,  and whats their experiences in very Few Days. This Will Help You to succeed In Your Entrepreneur Journey.

These Books Maybe  Low In Cost But it can Impact Huge On Your career.

I mentioned Some Of 2 Books Make sure You Check Out these Books And if You liked it you can buy it from my Affiliate Link As well :)

1- ELON MUSK BOOK- Buy on Amazon
How the Billionaire CEO of SpaceX and Tesla is Shaping Our Future

2-START WITH WHY by Simon Sinek- Buy on Amazon

CONCLUSION:

If you think that your idea is Not a Startup. You can start with Small business. And can Make it big. ;)

Entrepreneurs know they can create big things with their small Idea.

Finally thanks for reading.

I will see you in the next blog.

Til Keep hustling keep working.

Share your thoughts below:)