There are certain things that should be kept in mind if one is willing to be an entrepreneur. We are listing some of the basic mistakes done by entrepreneurs.

There are certain things that should be kept in mind if one is willing to be an entrepreneur. We are listing some of the basic mistakes done by entrepreneurs.

1. IGNORING DELEGATION OF WORK

Many new entrepreneurs are filled with ambition and want to execute every plan personally to get the best results but still make entrepreneurship mistakes. We have our fields of expertise while there are some aspects which can’t be done by us. Concentrating our skills on the work we can manage and delegating the other to the right expertise can make work faster and more efficient. Outsourcing is really important for business since it is a community where we grow each other.

By trusting the right people and letting them take care of certain jobs will make work easier. When we try to do everything ourselves, the quality of work degrades. Human resource management is a pivotal responsibility of entrepreneurs. So trust others and your judgment about their skills and let the job be done precisely. Moreover, the more people have involved, the more new aspects, and ideas can be accumulated.

2. NOT MAKING CLEAR GOALS WITHIN A PERIOD

It is really important to make goals for every entrepreneur. Even though we make a goal, we forget to demarcate the period we desire to achieve it. Entrepreneurs need to be specific about the goals they want to reach by adding an average time they think they will need to achieve it. Like if they want to open a franchise in 2 years. Or maybe crack a deal with a certain brand in 8 months. The period keeps your enthusiasm high. Like in the example above, you won’t lose inspiration or hope easily before 2 years because you estimate that in advance only.

3. ONLY THINKING ABOUT MONETARY PROFIT

Successful entrepreneurship can’t be decided on how much money you earn; it’s also about how much you develop and return to the community. It’s about how much goodwill you have from the people who interact with you. It is also about how satisfactory your service is. It is a grim mistake to only care about monetary benefit since trust is the foundation of entrepreneurs’ success. The profit you desire should not be momentary; it should last for long and develop you in all spheres. Overworking your human resource for the sake of monetary profit is wrong. To get the best efforts from your team, make sure to understand what other benefits you can reap with empathy and passion. 

4. NOT UTILIZING SOCIAL MEDIA PLATFORMS

The world is changing; the platform to access the maximum audience has changed. Many old school entrepreneurs do not realize how much their business can thrive, even if it’s based on the online portal. The technological renaissance that is taking place is defying the stereotypes of today’s world. It is time that social media is utilized as an advanced marketing opportunity and a new base of customer interaction. You can’t bring millions of people to your company at the same time to introduce them to the services you provide, but with a single tap in social media, people can reach out to innumerable people instantly. Then why corner it only for posting what is going in your life? Why not use it as a media platform which can bring dynamism to your entrepreneurship.

5. NOT TAKING FEEDBACKS SERIOUSLY

Feedbacks are an essential part of your service delivery. Taking feedback seriously here does not mean succumbing to hate spread by others and being scared to uphold the company’s uniqueness. Here feedbacks can even involve constructive criticism or appreciation to avoid mistakes entrepreneurs make. Never hesitate to evolve your business and making it a better version of itself while upholding its originality.

Feedbacks are the responses of the world after you present your entrepreneurship, so it is very important to go through all of it and taking it seriously. Contemplating upgrading yourself and running with the changing world is essential. Apart from this, we all need appreciation for the work we do. Spending a bit of time looking at your success can serve as an inspiration to work harder. 

Owning a business gives you many lifestyle advantages. As you are in charge, it’s all up to you when and where you want to work. Though there is a high financial risk, running a business of your own gives you the opportunity to make money than if you were employed by somebody else. You are benefitted from your own hard work.

Want to work for yourself but don’t have enough cash to invest in a startup? Well, you just need to funnel your dedication and time into an idea that will make you proud and help you earn extra cash. From childcare, party planning to wedding management, photography, and ghostwriting, there is a business for every skill level and budget. You can start these businesses on a full as well as a part-time basis. Your location can be your client’s home, a work van, a small store, or even just a website. You can advertise locally using fliers or set up your own shop with a website and online advertising campaign. Here are some of the business ideas that you can start for less than Rs. 10,000.

1. Mobile Recharge Shop

In the world of online recharge, most of the mobile users prefer to visit a recharge shop for filling their balance. So if you are looking to practice this business, you can start by renting a space in a small local shop. This rent will be your primary expenditure. Then you will need to form ties with that particular area’s network providers like Airtel, Vodafone etc. You need to pen down the commission rates where they will receive a part of your profits. If you are not looking to rent out a spacious shop in any expensive real estate property, your overall cost is bound to feature below the Rs. 10,000 scale.

2. Tuition centre Business

Due to the near zero starting cost requirement, it is one of the cost effective business to launch. Most of the tuition teachers prefer to take tuitions at the comfort of their own home. This eliminates extra expenditure on rent and supplies. The only effort that you need to put as a private teacher is to advertise yourself on the social media.

3. Breakfast joint

You may have noticed that the little breakfast and tea stalls across your city are always filled with many customers. This is so because as a commodity, food will always do well in a competitive market. For opening up your own breakfast joint, first you have to receive a permission from the respective authorities. Then you need to invest money for renting a space for your stall. If your rent is around 5000 a month, you can make use of the rest of your budget for buying groceries, utensils as well as second hand chairs and tables.

4. Garment tailor

The demand for good tailors has increased tenfold specially in cities like Kolkata, Mumbai and Delhi for the increasing popularity of self made designs. You need to spend some money on a small rented space. Apart from this, you need to invest in other necessities like a powerful sewing and stitching machine and electricity. So the total budget fits easily within Rs. 10,000.

5. Blogging

In this digital age, blogging is one of the most lucrative fields to tap into. Professional blogging needs only a small amount of start-up costs. You only need to invest in a domain name and hosting space which costs a maximum of roughly Rs. 3600. For promoting your blogs through the right channels, all you need is the cost-free and limitless expanse of the internet.

6. Event organising

Event managers barely need to spend time in their office. They are best at managing, checking out many venues, scheduling performances and most importantly being on the field 24/7. So their demand revolves around brand image and popularity. So this is a good online marketing strategy. Also, the overall start-up cost for building this brand is less than Rs. 10,000.

7. Online courses

Any form of education is priceless in its own way. However, it can be priced up for good value. To develop and run an online course for the students who are interested in learning any particular subject is a profitable feat. Some of the online course providers offer free courses on their own personal websites. However, most of them tend to tie with digital content companies to get the tools that they can make use of to carry out their lessons. For this, you only need to pay for your domain name and hosting space or to the digital content platform to feature your course in their platform.

8. YouTube channel

YouTube is a hotspot for talented individuals who want to get great returns with little monetary investment. This platform allows its users to create independent channels where they can upload their videos for free. Not only this, it pays those YouTubers whose channels are popular. You can start your own channel with zero investment on this platform and start earning. All you need is dedication and hard work.

9. Dance/ music school

If you are looking to run a dance or music school, the only investment that you need to carry out is in rental space. Apart from this, the business runs on their skill as an instructor and their presence in respected circuits. As the business grows, you may need to set aside an amount as the salary for the assistant and associates. In the initial stages, the trick is just to make sure that your school is being recommended by the people to the potential students.

10. Photography

Assuming that you already intended to take up photography as a profession, its of no doubt that you would already possess a high definition camera. Without taking the latter’s cost into consideration, as an aspiring photographer, the only investment you need to make is your time to build your profile online.

While each of these business gave its fair share of risks and surmountable barriers, they also have the potential to become great success stories. All you need is dedication and hard work, and your success will automatically make it’s way.

11. Influencer marketing

Influencer marketing is another great business option to start with less investment. It involves marketing products to those who have a sway over the things other people buy. The market influence stems from the popularity and reputation of an individual. Marketing to an influencer’s audience is the same as that of mouth marketing. However, it doesn’t rely on explicit recommendations. Influence can come from anything – whether a person, group, brand, or place. This type of marketing is unique because it doesn’t appeal to the needs of the customer but the influencer.

12. Freelance nail technician

There are advantages to becoming a freelance nail technician. You are your own boss here & choose when you want to work. You just need to spend money on the rented space which you choose to set up a business. It’s completely up to you. You can also choose your location by yourself. As a solo freelance technician, it can take many years to build a client base consistent. Customers who book nail technicians for at-home treatments also give you the scope to earn more money.

Ramesh Agarwal left his job in IAF and donated all his earnings. He had just Rs 1 in his pocket when he thought of starting Agarwal Movers and Packers.

A New Beginning

Ramesh Agarwal left his job in IAF as an Airmen, after serving 6years.  A friend suggested him to start a movers and packers service agency. With his connections in IAF, he started the operations of Agarwal Movers and Packers. With not much capital, Ramesh struggled at the beginning. The task of marketing this across the Airforce base was looking difficult.

He thought to take in his brother Rajendra Agarwal, into this business. But the problem for capital investment was only solved when he borrowed Rs 4000 from his friend Vijay’s mother. He opened an office in Secunderabad. The initial expenses of their office space was been paid with their first assignment revenue.  That was provided to the Indian Airforce, using Airforce trucks.

They earned a profit of Rs 8000 from their first successful operations and returned the borrowed amount. The balance amount was reinvested in the business.

Background

Mr Ramesh Agarwal was born in Hisar, Haryana, in 1962. His basic and secondary education was completed in a Government school in his village.  He graduated from Kurukshetra University and went on to complete a diploma from MTI-Chennai. In 1980 he joined the IAF as an Airman. Mr Agarwal always wanted to serve the nation. He was also adjudged as the best Airman among 542 cadets in Chennai during his sting in IAF.

The business Profile

The journey of completing of just four shift to IAF, to shifting nearly 83000 homes in a year, across the country. Agarwal Movers and Packers had come a long way.

The company employs around 5,000 people and has 103 branches across the country. Agarwal Movers and Packers owns more than 1,000 trucks and also hires around 1000 trucks, with 2,000 locker facilities. The company yields close to Rs 450 crores of revenue every year.

As an innovator

Ramesh Agarwal brought many innovative changes in the logistics industry. For instance, introducing a steel-bodied enclosures truck and replacing the traditional cloth-covered transportation. It brought more safety to the customer’s belongings.  Agarwal movers and packers started using easy to carry bags instead of costly cartons. Thermocol sheet are used instead of corrugated sheets. They also brought up the concept of Trucking Cubes or Lockers.

That attracted the customer to hire a portion of a truck instead of paying for the whole truck when not needed. These lockers or cubes had sole accessibility to the owner. The customer holds the unique key to unlock the lockers, once reaching the destination.
According to Mr. Ramesh, Agarwal Packers and Movers have been able to differentiate itself from every other player in the market. It is because of it’s branding itself as an emotional carrier.
His team realizes the importance of every good that a client wants to shift. They pack not only their goods but also the memories attached with them, says the Group head.

Awards and accolades

Presently, Agarwal Packers and Movers Ltd. is a famous name in packing and moving industry. Under the sincere direction of Mr Ramesh Agarwal, the company has attained the title of “Largest Movers of Household Goods” in the Limca Book of Records.

The other awards that he and his organisation had received for its reliable services comprises of  “2005 Business Sphere Award”, in 2010. Then “An Innovative of Logistics Industry” by AITWA,  “Transport & Logistics Business of the Year Award” and several more.

Social Service

Not only as a group but Mr Ramesh Agarwal was able to grab the honor as an individual.

He has been elected 3 times in a row to the honorary position of National President of AITWA, ( All India Transporters Welfare Association). It is an apex body of all transport companies which are associated with land/road transport.  He also visioned to organize a Driver Seva Kendra in Rajasthan for the upliftment of quality life of drivers, which is first of its kind in the nation.

Under the Beti Bachao and Beti Padhao campaign, Agarwal movers and packers, distribute bicycles every month to needy and poor school-going girls.

Apart from the above mention CSR activities, Mr Agarwal keeps himself involved in many more such programmes which contribute to the growth of the nation. He motivates the youth of the nation by delivering lectures in colleges and institutions. He published his first paper “Seedhi Saadi Baatein”. It had entertained large audience.

Shri Ramesh Aggarwal had  contributed welcome growth to the Logistics & Transport industry with his commitment, creation and conception. For him, the transporters and drivers,  are like ‘soldiers’ of the economy.