Many passionate youngsters in India are dreaming to start their own business, many of them are also having innovative and unique business ideas in their mind. but lack of knowledge and proper guidance are keeping their dreams far away from them. Many of them don’t even know about how to register a firm. MME is a platform where we have strong desire to help such business enthusiasts by providing them all the necessary information they need for starting new business in india, from business registration to selling their product in market.
Starting with a business idea:
Everything begins with an idea! If you have an idea, then you must take action to bring it into reality. First of all, whether that idea is possible to implement practically? If yes, then you should start researching on positive and negative points. If your idea is related with service industry, and it’s never been implemented or tried by anyone else, then you need to study carefully. If you have any product in your mind and willing to start a manufacturing unit, you should study even more.
Starting a service-based company:
- The most important aspect anyone should take into consideration is that people should see your company or service as solution to their usual problem.
- Look around yourself, most of us are facing some usual issues in our daily routine, but we never take them seriously. Find those issues, try to find solution for that problem. Always keep in mind, good idea never fails!!
- Find competitors in the market, spot out their drawbacks, try something new, innovative, that no one ever tried.
- Never rush or hurry to start the business, think about every aspect, thing from all angles, businesses started in a hurry often lead to failure.
Starting a manufacturing industry:
- If you are having any product in your mind and wish to start its production, there are few things you should not ignore,
- Always take a market survey, look for other companies around you who are manufacturing similar product. Find out what their costumers are saying, whether they are satisfied or demanding something more.
- Never invest in land and building at the first stage, take a space on lease or rent, run your unit there until your business gets settled and then go for buying own business space.
- Get all legal permissions first. Some of the manufacturing plants need special permissions. For ex chemical industry, fireworks/crackers manufacturing unit
- Look for raw material availability in your area, also take survey of raw material costs, transportation costs.
- Learn detail manufacturing process, find latest technology others using for production.
- Search for machinery suppliers. This is very important step. You should consider your desired production capacity while selecting the machine. Selecting genuine machinery supplier is also an important thing, always check supplier’s history, satisfied customers and feedback’s.
- While your Machinery is getting ready, make arrangements on your production area, some machines need foundation, look for water supply arrangements, electrical connections and other basic needs.
- Looking for skilled labors is also very important thing. You must hire a skilled worker or operator before starting to setup. There are many things which are supposed to be executed according to machine operators need.
- You must take Machinery trial on the Machinery suppliers place only, so that if any issue occurs, they can solve it on the spot, also Make raw material arrangements before Machinery installation.
- Make sure that the product you manufacture is attracting a growing customer. Innovation and updating your product are key to the ongoing success of your business.