Biz Vectors

When we plan for a new start-up, we should think from both sides, in short, every start-up is full of thrills and promises, and excitement. Another side is start-ups may be uncertain or even risky if not planned well. Therefore, we need to focus on major factors which influence the overall start-up journey, these are listed below. Unique Idea-                  Your business or start-up idea can make or break your business means you should assess the idea from all angles which is called Idea Viability. You must conduct an idea viability study to avoid unnecessary headaches ahead, you will come to know the commercial aspects of your idea. Your idea should be very unique and solve the problems of society or fulfill society’s needs, you should find out what is the USP of your idea, which will make it different from others.  Leadership             ...

 Introduction-  A mentor is a trusted one who guides you in your start-up journey, the mentor can counsel you wherever required, and he is the key person for the start-up or business journey, any senior person, trainer, professor, or teacher, who is working in your area, entrepreneur, or consultant can be your mentor. Mentors can give insights about your idea, they can share the already available research and facts about it, which will save your time and effort in the assessment and evaluation of the idea. Let’s see what roles and responsibilities you can expect from the mentor or guide- To Share his/her work experience –   Mentors should share their experience with the start-up holder, and what he knows about the start-up and the product, market analysis, etc. Mentors can help to build a good brand name and also they can bring good trustworthiness about the product and process. They will share their journey and how they reached the high point of success. To share...

Introduction- Most of the time, initially start-ups take good pick up but over a short period of time maybe 6 months to 1 year they slow down, this means that only having a strong idea to do business is not sufficient or, for the success of the start-up. Success mostly depends on the survival of your idea in the market and the efforts taken for it, sufficient marketing of the idea and promotional tasks, advertisements, etc are required to be monitored very closely at the initial phase Here are some reasons which slow down the idea execution during the initial period. 1. Adding too many features at the initial launch Very less start-up holders add the philosophy of “ need-based products or services” instead of adding too many features to the product or service. Adding many more features will take excess time to catch the minds of the customers and the product rolling in the market will give money after a long period of time. Instead of this, we can keep our idea which will fulfill t...

For starting any business first and foremost is a viable idea, any interested person can have many ideas of great value and requires a screening process for getting a viable idea, and the viable idea can convert into an actual business model. Primarily idea analysis is important at a very early stage, so that going ahead with the sound idea for the business and calculated risk.   Idea analysis at the primary stage avoids the wastage of efforts taken on experimenting with too many ideas which over time marks as scarps. Idea analysis at the preliminary stage will save our efforts in terms of money and time, invested in ideas that won’t work. We know that ideas may be just lines or descriptions but they have huge meanings inside which are hidden and need to explore which is nothing but Idea analysis. Idea Analysis will give us several findings at the initial stage about a particular idea like – as how to make it innovative, how it can solve the problem, how much initial investment i...

1.  Self-employment means the person Incharge of his / her firm will work for himself, instead of offering jobs to others and work get done by others. In short, it is one person’s business like a contractor. 1. Entrepreneurs generally take different types of calculated risks and set up businesses, providing job opportunities, for getting profit from the range of investments, and entrepreneurship is the journey of concept to execution and monitoring business further to diversify the business. 2.  Self-employed  hire person to work for him.  In Self-employment owner of the company hire the people who will work for him, and he doesn’t delegate the power and intelligence to his subordinates 2.  Entrepreneurship is teamwork, where the company owner will work with the team to achieve the Common goal of the firm, to achieve this he/ she delegates the powers and authority to his employees. 3. The owner of the self-employed firm is the only face of his business. If ...

Idea generation is nothing but brainstorming the challenges the society, industry, or any other agency of the society is facing, and providing solutions to these challenges through developing viable business ideas which if commercialized provide us returns in terms of money. If we are consuming any products or any services we always find that, there is a better way we can get it, we think about the improvements in the product or service, as per our view. In another way, new business ideas are nothing but the scope for improvements in already existing products, and concepts resulting from comparing two or more products or services and identifying the best features from all the products and services. After comparison we expect that all the best features should be in one product, this leads to the formation of a new product or new service which is totally different from an existing one. Ideas may be very raw or maybe only words but they are very much important for creativity and innovatio...