How to start a business with no money or investment?

Some of the successful people have said that "there is always a baggage that comes with investors’ money & also you will be responsible for other's karmas”. So sometimes it’s a good idea to start with whatever little money you have. There is a freedom & a control that comes with no money. There are tons of ways to make money, but people never pursue them because they seem "menial" or "not worth their time". In every locality or community you will find few problems which most people are living with. A smart person can actually tap these kinds of opportunities & make money as well as create good-will & the network.

One more thing which sometimes goes against people who wants to pursue their hobbies into their business. Though it helps sometimes but someone has to be practical enough to be aware of the market scenario & what makes business sense. But it is found that if instead of concentrating on your hobby only if someone concentrates on the processes used in the business it will return far better results comparatively. Processes could be building teams, collaborating with others, wrestling with creative challenges, supplying customers with value, entertaining paradigm-shifting ideas, dreaming of the potential for fast growth, and being socially responsible to all the stakeholders.

Some of the points which can help one get succeeded in their startup businesses:
Try to be Pro-people & hire good people
Try to be a specialist of the business you are in
Do on-hand as & when needed
Be passionate about your work
Be an example for your employees
Use problem solving tools to deal with the problems.
Think ahead of time
Some of the things every new entrepreneur must remember if he has to succeed & sustain in the race:
· Always plan for each & everything for your success. If you & your employees are working long hours that means there is something wrong with your planning & management
· Always deliver value not junk
· Buy good stuff sell good stuff
· Be innovative
· Involve & collaborate
· Stick to your values

What product youth of India would like to buy thru Internet?

I have been researching on the subject that what is it that youth of India wouldn't mind buying online without having an itch of evaluating & seeing the stuff physically. I would like to hear recommendations of you folks who have been working on the similar analysis & are budding entrepreneurs in making. Please join in my search & partner with me.

Some of the reasons why startups fail?

Why most startups fail?

Starting a business of your own has a lot of benefits such as being your own boss, facing new challenges, a high growth potential and reaping all the rewards of your hard work, however, success in a small business can never be taken for granted. Entrepreneurs who want to run their own small businesses cannot afford to ignore the difficulty of starting a business. The following are the primary reasons for small business failure:

• Lack of planning: Not having a proper business plan is a major pitfall that can lead to failure of a small business. A SWOT analysis is necessary to be able to overcome difficulties during its growth. A business plan gives proper direction to the business.

•Trying to make a hobby into a business: Not every hobby can be transformed into business. Before planning to start a small business, the idea must be thoroughly researched for its feasibility.

•Inexperience in managing a small business: To run a small business successfully it is necessary to be familiar with several aspects of the industry, its trends and possess the skills necessary to market one’s products and services. Inexperience in these aspects can result in failure of the business.

• Poor record keeping and financial controls: Not maintaining good accounts of profits and expenses, taxes etc is also a cause for small business failing.

• Entrepreneurial enthusiasm: Entrepreneurs must learn to differentiate between "true opportunities" and just new ideas that are not practical. It is necessary to compare the idea with the business plan objective and see if it the skill and time is really available to put the idea into practice.

• Inefficient money management: It takes about a year or two for small businesses to make profits, so not having proper resources can hamper the growth of the business. Also,personal use of business funds must be prevented.

• Dependence too much on a single element: Small business owners must be careful against offering just a single major product service or having just one big client. Though this might be the major source of profits they must think of what might happen when they no longer have the source and try to broaden their horizons.

• Competition: Competition is a major factor influencing the success or failure of small businesses. Therefore it is necessary to identify the exact nature of competition, their services and how our products/services are superior.

• Poor marketing: The success or failure of a product can depend on good marketing.Therefore it is important to research every marketing method used and stick to those that are yielding results.

• Entrepreneurial exhaustion: Having a small business requires patience, capital, time and energy. Not every individual is cut out for it. Long work hours can cause exhaustion and lead to a lack of interest in the business which can stunt its growth.

• Faulty location: Visibility is very important for the small business. If the store is not easily found by clients and suppliers, profits could suffer.

• Poor selling techniques: Business fail if owners are not able to get potential customers to buy their products.

• Postponing tasks and improper time management: Deferring important tasks can be lethal to a business. Staff can be hired if necessary for doing tasks that a business owner doesn’t like to do.

• Inferior quality customer service: A bad quality customer service such as not replying quickly to emails, phone calls etc can lead to customer dissatisfaction. Also, not giving the customer what he wants may weaken the bond with the small business owner.