Are you satisfied with your job? Have you been nursing a secret ambition for a while now? Maybe while waiting for the bus at Malviya Nagar, or sipping a cold coffee in Connaught Place in the heat of summer, an advertisement caught your attention. Have you wondered what it would be like to have your very own business...To be your own boss and run an empire in the city you call home? Well, we’re here to tell you that with some hard work and a bit of luck, it’s possible for you to start a business in Delhi.
A few years ago, a report from the World Bank* said that it takes just 32 days to start a business in Delhi. In fact, amongst all other Indian cities, it’s the easiest city to start a business in. The city is conveniently located and usually, has a steady supply of labour pouring in. So there’s nothing to stop you.Why you should have an online startup
For any new or up-and-coming business, moving your business online has many perks. To begin with, customers can access your products or services across geographies and at any hour of the day. But more importantly, for a new businessperson, an online business requires minimal investment. All you need is a host and a domain name. You don’t have to shell out money to rent a store and unless your business requires a lot of storage space, you don’t really need a physical space at all. You can direct the extra revenue towards digital marketing activities that bring the maximum number of interested customers to your website or platform. Finally, because online businesses are synonymous with quick and convenient delivery, it’s usually relatively easy to build a strong online presence and a following. The number of online businesses has soared over the past few years. The convenience of shopping from any device, home delivery, single-click purchases, easy returns, and the ability to avail of competitive pricing, have helped their popularity.How to go about starting your businessFunding:
When it comes to business ideas, there’s no dearth of them in apni Dilli. But there are certain procedures you must follow to set up your business. If your business is not self-funded, you may have to look for an interested investor. A lot of businesses that are conceptually sound, do not see daylight due to lack of funding.Platform:
Once you have an investor, it’s advisable to register a domain, to not only advertise your product, but drive traffic to your website. Your website is crucial to your success, so design it well, so that people return to it. This requires some expertise in web design and digital marketing. An alternative could be to sign up with Amazon and use our ready-made platform to sell your products.Partnerships:
If you choose to have your own website to sell your products, it’s important to collaborate with a logistics company for deliveries and pick-ups. It’s also critical to have a payment gateway. A general piece of advice is to do thorough market research before making any big decisions.What works in Delhi
Delhi’s status as the nation’s capital makes it an especially attractive location for certain businesses. The city’s bustling social life make it an excellent market for ventures such as clothing and accessories, food items and confectionary, and arts and crafts. Of course, this is provided the products are of high quality and attractively priced, as there is a lot of competition. Similarly, businesses centred around travel, or targeted at the transitory expat/diplomat community can also flourish, if managed well.
So get started by registering with Amazon today
. Your products will be showcased among many others but you’ll have the advantage of a massive and already existing customer base. After that, like any business, it all boils down to you, your products, and offering your customers great experiences. *Source: The Times of India - Delhi easiest place to start a business in India: World Bank study