Anoop Bishnoi - Launching a Business

One has a great idea and now wishes to launch a new business, but what concrete steps can one take to ensure its success? Starting a business can be a stressful experience; it often feels like a large number of things have to fall in place together. Entrepreneurs and business owners often look back at their start and try to understand why they were able to become successful – it could have been a business plan, financing, or motivational advice from their mentors. We decided to talk to one such entrepreneur.

In a recent talk with an experienced entrepreneur and business mentor Anoop Bishnoi, we asked him what he feels is the most important thing to start a business, and here’s what he has to say, “I believe, the most crucial aspect of starting your own business is first the validation of your idea. Most people make the mistake of believing that they must first have an idea and then start a business, whereas it should be the other way around – the focus should be on the market instead of the product/service. Moreover, you must understand what sets you apart from your competitors who offer similar products and services. This will also help you target your market and customers more accurately. And lastly, overestimate the cost - You must be sure of the minimum capital that is required to survive during the first one or two years of your business's establishment.” And it is very likely to be exceeded beyond that, so be prepared for that

Making plans based on researched facts definitely helps in developing the initial courage and belief, but in the end it is one’s own commitment and actions that demonstrate what one actively works towards in the long run and how successful one would be. Make sure you have a clear picture of your expectations and then take the leap when the timing and circumstances are appropriate.