How to start any business ,A step by step GUIDE

I've spent the last 10 years of my life building and scaling startups, some with other founders, some mine and I can tell you exactly what it takes to start a business the right way. From being one of the very first employees in some startups to building my own profitable business and now to being a brand strategist for some companies, I have been through all, through all the breakthroughs, through wins, through trial and errors and I tell you exactly what it takes. This is the ultimate guide for you to how to start a business. You don't have to watch another video. Trust me, this is your ultimate guide. So stick to the end because the end point is one of my favorite points. It is a make or break point. So let's begin. Number one is three co-factors which gives birth to any business. Number one would be the gap in the market. This is the most, the primary, the most common wherein all businesses takes birth. Number second, something which is built with passion. Number third, born with purpose. Now if you are able to understand this, this is what gives birth to a legacy brand, something which leaves a message behind. A very classic example, if all this, the gap in the market, the passion and the purpose, all these three are checked in your list, you are on the way to build your legacy brand. I'll give you a very classic example of the same Nike. Nike was started by a track runner and his coach. They started the brand with the idea of creating crafting shoes which could help perform better for athletes specifically initially. That was their vision, that which will push them to perform their best, be their best version and the materials, the designs, the thought process had a vision. It had a very clear-cut vision behind it. Now it's taken birth from passion, of course they were into sports, that's checked. Number second, the gap in the market in terms of they want to build something better and they're targeting athletes initially and they want to create something which will help them to perform as best as possible. Number third, the purpose is very simple. They are pushing each one of us, it is a very inclusive purpose, they are pushing each one of us to push our limits, to go to the extra mile, to avoid procrastination and the message which means just do it has a lot of meaning behind it. So Nike does not say Nike or best performing shoes, that's not their tagline because that's not their real purpose. The real purpose is to push you beyond your limits, is to make you feel that you also can do it too and that's how you resonate with the brand. The reason you buy Nike is because you want to feel like that. Best brands in the world which are legacy brands make you feel something better than anything else. You want to be a part of it and that's what Nike has done. Nike has checked on all the three things which is built with passion, it's filling a gap and it has a huge that is why it is a legacy brand. Same goes with Apple. Now if you build a message behind your brand, people will emotionally resonate with you and that's where people will never forget you, they will stick with you till the end. You'll be the go-to brand for the brand positioning and price point. Brand positioning is the key for you to understand your price point, your target market, what are you going to build, how are you going to build, how are you going to target your marketing strategy. So first most once you have figured out what you're going to really sell, the second thing is the brand positioning. Whatever you sell in this world need to have a positioning around it. Again what is the message you are going to convey, what are you going to tell people about your product, why will they even buy from you is what brand positioning means. There are essentially two types of brand positioning and the brand positioning will define your price point and your target market which is the next which I'm going to come to next after this point. Brand positioning, now for example let's take a classic example of a Parker pen. A Parker pen positions itself as one of the most, I would say people resonate with it as a writing instrument which is very premium and they want to reserve it for the special moments while signing a contract, while just signing something which is very special to them, which is important to them, that's what it positioned itself as it meant for entrepreneurs, for executives. A college going student will never buy a Parker pen because that's not their audience. Now if you compare a Parker pen with a budget-friendly pen, I wanted to understand that where do you stand because the brand positioning of both is defining all the other points. Parker pen is a premium brand, a premium positioned pen meant for defined very special moments for some people. A budget-friendly pen is very good, is amazing for regular writing, amazing material, basic materials, made out of basic plastic but it's hands-on and it's doing an everyday job. Parker pen on the other hand, premium materials, premium positioning, packaging and design reflects that premiumness and that's how their materials and that's how their pricing is. So based on all these factors, based on the materials, the packaging, the design, the brand positioning, the price point comes and then the target market comes. If Parker pen is a hundred, a budget-friendly pen is rupees 10. That's because where they are positioning themselves and where they are positioning themselves and then comes the target market which is number third point. The target market is defined from your brand positioning, from all the back work, the backend work you have done in terms of the materials, the pricing, your buying price, how you're going to target, how you're going to market it. Now if you go to someone, for example, you go to a college student and market him a Parker pen, he will not buy. There's a 99% chance he will never buy. If you know your target market, you are going to save a lot of time for your business. If you know who are you, who you want to target, you are going to save a lot of time for yourself and your business. Three very easiest ways to figure it out after all this exercise you have done. We obviously know your target market but three very simple ways if you break it down. Number one, of course they need it. Number second, they have the bandwidth to buy it and number third, they resonate with it. If they resonate with their brand, why will entrepreneur buy a Parker pen because he resonates with this Parker pen. He wants that. He doesn't want a budget-friendly pen. He doesn't want to hold a budget. He just want to hold a Parker pen and feel that that poise and the elegance which Parker pens hold. He wants to feel that in himself. That's why he'll not hold a budget-friendly pen. Same goes with Nike. Same goes with Apple. That's how the businesses are defined. Now after target market, we will come to action plan. Now your action plan I've seen after working 10 years with many startups and my own startup and now strategizing and consulting a few startups. I can tell you exactly what mistakes people do while setting up the goals. They set up goals for one year. There is always a roadmap which is made for one year which is not the right thing to do. Because when you do a one-year plan and it goes along with your personal goals as well. If you're setting up goals for the next day which is like three months apart from now. If you're setting one-year goal, trust me it's that's the reason you half even one two months are passed and you're just giving up on your goals because you are overwhelmed with that goal, the one-year goal. You don't know what to do or how to do it. You're divided into maybe a six-month, six-month plan but you are completely overwhelmed because this is not just getting done because it requires involvement especially in business. What you're going to do is you are going to only set up a three-month plan. Only a three-month. The first three-month plan is what you are going to set up because the first month and break it down into month-monthwise plan and stick to it. Each day counts. Stick to each day. Every day counts in these three months. The first three months of a business, the action plan and then execute it. Do not make a one-year goal. Make a first three-month goal. Now why I'm saying this because the first month and the second month you are just going to test the market. Target market, very important. Is the pricing working? You might change or do a little tweaks in your business model. Do not step away from your vision because that is what you even started business because of that. That is something which has to be here or and here all the time. Do not do that. Only evolve if required. You're in your strategies, in your approach, how to approach the customers and a little tweaks in the business model if required and then you see how you evolve and grow. Everything will lead to growth then. Three-month plan. That's it. Don't be overwhelmed. Start and just start. People fail to even start. Starting is the key. That's the secret. Just started, don't procrastinate. Now the last point I'm going to come to which is my favorite and because that is really a make or break for any entrepreneur especially entrepreneurs which is three mindset shifts. I'll tell you you need to inculcate in yourself. Number one, you have to be ready to do it all almost initially yourself when you're starting out a business. You cannot say that hey I don't know this. I don't know how to do operations. I don't know finances. I don't know how to do sales so I can't do it. You can't do that. It's your business. You're not doing a job. Even if you're not executing everything yourself but you need to keep a hands-on. You need to know what's going on everywhere. You need to be a part of everything of your business because you as an entrepreneur holds a responsibility for your business for each and everything. You cannot escape from that. We have seen people escaping from the responsibility and then saying that hey I didn't do it and they find people to blame which you cannot do. You cannot afford to do that. That's why I say if I've seen people starting businesses and when you do it like I started my business. I did all myself and my partner. When you do things yourself initially and you grow it, you know what is working what is not working and it's up to you. It's in your hands. It's in your control and be ready to do all by yourself initially. That is the best way to start it before you hire anybody. Number second is exhausted excellence. It's very simple. Basically when you reach a threshold and you feel you're burnt out. You feel that hey that's it. I can't do it anymore. In reality that is only 40 percent of your capacity being used unless you are physically depleted and you're feeling physically tired and your muscles need recovery technically. That is different. Exhausted excellence means when you cross that 40 percent threshold and you're utilizing the 60 percent potential remaining. You see where what you can do and entrepreneurs naturally automatically do that because they have to do it. So trust me if anybody wants to build mental toughness, mental resilience, entrepreneurship or even sales. I always say this sales will build the capacity of the manifestation. Sales and entrepreneurship will help you to be extremely mentally resilient. Even if you feel the failure, I always say that it's just a divine way to protect you from somebody you don't have to be or you don't. It's just protecting you from someone you don't want to be with. You don't have to be with. You don't need to be but just a little harmful for you or whatever. It's always protecting you divine. So that's what entrepreneurs understand that and they are like I said they naturally have to cross a threshold because they need to work. They need to make sure they're onto it. No matter if it's a festival, it's a holiday, it's a Sunday. They are just on it and they need to be on it. That's where they realize the actual potential each one of have we have in us and they realize it because they need to do it. So if you see a 40% threshold, your mind tells you, hey you're tired. Your mind is a paranoid bodyguard. It is a disguise. It's protecting you in reality. It is just making you feel a victim and reality is just not protecting you but making you feel lesser and where you talk back to it and tell that hey I'm not tired. I can do more and I will do more. The day you control your mind, the day you win your life. Number third, the last and the most important I feel is problem solving. Problems are I would say it's a training ground for you to build mental resilience. Whenever problem comes, always think okay problem always comes with solution. First you have this in your mind. Keep this in your mind. There is a problem. It has to have a solution. That's the mindset shift you need to do. Don't feel oh there's a problem or now you're dwelling into it. What I'm gonna do? What should I do? Who do I ask? No. It has a solution. Even if you don't know, ask. Never stop. Ask someone who's smarter than you. Ask someone who's experienced than you. Use charge your pity. Use whatever but always believe that the problems comes with solution and whenever a problem comes, always think okay this is how I can actually do. This is how the ways are. It's all here. Remember, entrepreneurship is here. Your life, your days are in your control and they are here. What you think, you become. So I hope you enjoyed today's video. I'm gonna make, this is a series by the way guys and I'm going to make multiple other videos on entrepreneurship and sales. Also I'm gonna link a few videos I've done on sales and enjoy and let me know if anything you want to know. I would love love to help you. Till then, take care.