How to Start a Profitable Business?

The very basic and important thing to keep in mind while starting a Startup or a Business is that. it's fine when things don't work for the very first time. Yes, many of us leave the idea when it fails that's shows you were not serious about the idea.

There are always four stages of how a business or a startup is seeded. These four stages play the most important role in the business plan. Let's discuss these in detail :

1. THE [F.F.F] STAGE - Yes this is the stage when a startup is limited with the idea. It generally happens with college students or someone with limited or no funding at all.

Here we borrow small amounts from our (Families, Friends, Fools) and try to convince them to invest in our idea. Didn't get it? let's explain you with an example, imagine that you are a college student and have an idea which you believe will turn into a big hit if it gets implemented. Now the only thing which is stopping you is you, yes you.

Being a college student it's obvious that you won't have cash or revenue to help grow your idea, so in this case, you will have to convince your (F- family, F- friends) this is called the STARTUP stage of a business where you gather money from your loved ones and not from the public.

2. THE GROWTH STAGE: I call this the growth stage in any business or a startup. Here you won't be limited to just an idea, but have started implementing those in real life.

The ones who will invest in you or your idea/business will no longer be limited to family but you will now have investors which in business terms it's called ANGEL INVESTORS.

Q. What is the role of ANGEL INVESTORS in a STARTUP?

Imagine that your startup has just started and is doing well at this time taking or asking money from your family would certainly be a bad idea so what do you do then? well here is where ANGEL INVESTORS play their role.

ANGEL INVESTORS are the ones whom you pitch your business concept or service and if they like your idea they will invest in your business demanding a certain percentage of your business in return. This is also called seed investment in a startup.

They will not only invest in your business or the idea but will also help you whenever you face any challenges. Every business has shareholders who hold a certain percentage of the business and in return, they provide their time, knowledge, experience to help grow your business.

Look you have to understand that in business it's very important to learn to convince people because that's how the business grows. Every tv ad being displayed on televisions is showed just showed to convince the user or the viewer of the ads.

The companies invest billions of dollars to build a strong framework of convincing people. This is because they know their user base so well that, it is not the buyer who has control over the brand but it is the brand who influences the buyer.

3. Failures: Well this is something which we all face. In business especially the ones who have just started doing the business, it's just fine that you fail and if you do, try correcting the things that went wrong and bounce back because when you try again that shows how serious you were towards your idea or the business.

Most business owners make the silly mistake of quitting the business or exiting the business when they fail. There might be several reasons for failure (not understanding the user base, not understanding the market properly, not focussing on the small detail or neglecting those small things which you thought to be small but resulted in big failure so on and so forth) failures will always teach you a lesson.

4. MAINTAINING THE SAME MOMENTUM: Maintaining the same momentum or maintaining consistency both are the same. It's not easy to maintain the same pace throughout. To maintain consistency a business needs to be actively involved in research and development or R.N.D, have an eye on its competitors, keep track of its users, and continually bring our products to engage the buyers to buy their products keeping the current members in hand.

These were few details on which will help you grow your business.