Types of Startups In India. So here I am to introduce you to the various types of start-ups In Entrepreneurship with Examples which you can begin with. I’m sure your mind must be fiddling with these doubts! Go ahead and check them out!
How many of us want to have that hectic 9-5 job in our kitty which buckles us down intensely with our boss constantly standing over our head and the colleagues puckering around nastily? Oh! That’s an unexpected response! I feel almost all of us are getting cramped in those 9-5 dull jobs. So finally we try to make up our mind and decide that we need a breath of fresh air. For once this constant nagging should stop so that we can be our own masters and do whatever we like!
And then finally the idea of a “start-up’ hits us at the back of our mind. We try to get a ballpark figure about how things will go about. But the first question that keeps on hammering our brain is:
“What type of start-up do I fit into which can give me a new lease on life?”
So here I am to introduce you to the various types of start-ups which you can begin with. I’m sure your mind must be fiddling with these doubts! Go ahead and check them out!
SUCCESS IS THE SUM OF SMALL EFFORTS REPEATED DAY IN AND DAY OUT:
So what if you start with a small business?
“You must remember that great things are not done by impulse but by a series of small things brought together!”
Engage your family members or local people for the initial stages. Though you won’t be able to live high off the hog and aim for huge profits but it would be sufficient to keep your head above water. Such type of start-ups usually aims for having a family business and are generally not designed for scaling. However, they are a blessing in disguise for people as it creates local jobs. So if you want to start something of your own which may not fetch large profits initially and involves only your close friends and family, then this is the right choice for you.
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LARGE COMPANY START-UPS:
How lucky to be born with a silver spoon in your mouth! But it’s better to be born lucky than rich. Large company start-ups bring with them the agony of changes in customer’s taste, new technology, new legislation, new competitors which can create pressure for more disruptive innovation. Hence the need for the creation of new products to be sold in new markets adds to the worries. So if you have money in your pockets to cater to the changing needs of customers and keep up with the new technology and innovations then go for this one!
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WE MAKE A LIVING BY WHAT WE GET
Unlike scalable start-ups, these social start-ups only aim to make the world a better place to live in.
“Since God has given us two hands, one should be used to help ourselves and the other to help others”
Their deed is not to make a mint, neither are they willing to take up an activity that is a money spinner. They just want to devote their lives solely to the planet which has given them a roof over their head. Surely, we can’t help everyone but every one of us can help someone and that will truly make a difference. So, if you feel you have that spark in you to help people and perform social work, then this start-up is exactly what you need!
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LIFESTYLE START-UPS
BUT WE MAKE A LIFE BY WHAT WE GIVE
A large number of start-up companies are now blurring the line between profession and passion. For instance, people who have a knack for drawing are launching animation start-ups in order to pursue their passion. Another example is of people with some kind of expertise in sky jumping are offering training for that and hence their passion turns out to be a cash cow for them. They may live from hand to mouth but feed on the quote
“Do what you love, love what you do”
They don’t want to make a killing, they just feel content at the end of the day because their job brings them pleasure. Many of us want to work for something which derives pleasure, something for which we are very passionate. We don’t want high ending profits, neither do we want to scale to great heights, what we want is just the push to pursue our passion. And if this exactly describes you, then go for it!
Also Read: How to Promote Business through Digital Marketing
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SCALING TO GREATER HEIGHTS:
“Aim for the moon, if you miss you’ll hit a star!”
Scalable start-ups are too different from small start-ups despite the fact that even they have a humble beginning. Scalable start-ups revolve around a simple but powerful concept and are always in search of financial investors, as an ace up their sleeve, to raise capital for turning up trumps. Perfect examples are Facebook, Skype and twitter. They believe that they are on the crest of the wave and their ideas have the power to change the world.
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QUICKLY SOLD AND FLIPPED!
The cost of designing and developing a mobile-based or web-based app has plummeted massively and this has given birth to the new breed of Start-up Company known as a buyable start-up. Some of these start-up companies are not even looking for traditional Venture Capitalists rather they are trying to raise money for their start-ups by opting for angle finding or crowdfunding. However, this type of start-up is generally sold to a third party after some time in return for a handsome amount of profit.
“They can bet their bottom dollar on their start-up and possess the indomitable courage to sell it to a third party”
Surely you had got a bee in your bonnet about having to choose from an array of start-ups. These ideas are not just flight of fancies! They can earn you real profits and put you on a gravy train! What we need is just to make the correct choices. So people work your way out. What are you waiting for?