Ever wanted to start a business, this lockdown is your time.

Have you already taken the precaution to sit at home and work from home? You are planning to stay put for the next two weeks. Congratulations you may have earned 20 hours of the weekend and 10 hours of travel time per week, Mumbai. So with 60 hours in hand what are the first steps you can do to begin. The below idea would work bests for online and social media-based business. However, the most part will apply to every consulting business. The idea has to work for you by providing the service sitting at home via the medium of the internet.

If you don’t satisfy any of the above criteria and are still reading to kill time, continue reading. I have something for you too in the end. Or else you can stop right now 🙂

  1. Negotiate this time with your family and get uninterrupted hours to work on your business. If you are passionate or not this time will act as a limit test.
  2. Recruit your family, start the first hire at home. If you can’t sell your business idea to your family, how else you could you sell anyone else. Hiring is a skill you will cherish for long.
  3. Write about the business idea in a blog, LinkedIn or Facebook. If you are afraid if you can lose your job title it as “This Lockdown got me thinking about a business idea are there any takers”. Don’t worry, ideas are cheap execution is the king.
  4. If you are not good at writing, you can do the same via video or podcast its easy. If you cannot google your way of technology impediments. That could be a challenge in this current business environment. (Remember you are working from home)
  5. Identify your tribes. They are your primary customer. You have to know what are their age, gender, profession, income, individual or organization, location, and where online you can find them.
  6. Once you identify them to search them. Can you find them on any specific platform LinkedIn, Facebook, Instagram, Tiktok, Twitter etc? What do they care about? What do they talk about?
  7. Share your business idea blog/video/podcast you created with them by connecting with them. Tell if they have 5-10 min to discuss the idea.
  8. Ask if they would be ready to pay for it if they are excited to ask them for advance. If you can serve them your business is started or else return the money.
  9. Now you have all the inputs required you can craft your service; it’s delivery method and its price points.
  10. If you are still reading and you don’t have any business idea, think of 3 people with whom you should share this blog, and they will benefit from it. This thinking process could help you come up with an idea. Remember this is not for everyone.

You can put your thoughts in the comments below. I would like to get some feedback and reply.

Stay Safe and Healthy!!!

Business Idea – Healthy Habits Buddy

A friend of mine was discussing an idea to start a business. She is currently working in Corporate world and have a dream of becoming a Business women.

Her passion is around health, food and fitness and I only spoke with her like 5 minutes. I know that time is not enough to conclude anything but She didnot turned up on our first online chat meeting. I have blocked my time so I thought of creating some plan or working idea that would suit her busy schedule. Something to start part time.

So based one few Business principles

  • Starting a online service business from zero money.
  • Using the power of Whatsapp or other messaging tools.
  • Making use of wearable technology devices like fitbit.
  • Creating Systems that is repeatable and provable.
  • Indentifying product market fit.

So I am writing this article so it can be used by anyone who wants to. 😃

Business should start from a vision but partime business must start from a passion.

Because your work timing for it in Mumbai, India will be 9 pm to midnight. (You can calculate for your cities.)

The Idea

I think she can become a Healthy Habit Buddy. Her role would be to help people to take them towards thier health goals. She will do that by being a good buddy during the journey by keeping track of the tiny habit changes, providing solutions to daily challanges and checking the stats of wearable.

Remember we are not being a deitian, trainer or coach. It’s like a job of a peer who keeps a check on you when you ask. Friends use to do that in past now everyone is busy so you need to have this buddy. For example if the person wants to walk 10,000 steps a day. She can’t find time. The healthy habit buddy will talk to her and figure out time from her current schedule and hack some time out for compelting the steps. Like park your car far, take a walking meeting in office, fill the water bottle from another floor, take stairs after lunch etc. I hope you got the point.

The Clients

They have to be working women in Corporate world because then she will know exactly the challanges they are facing. She will also know the lifestyle and environment. It has to be super niche like women in her industry or even doing similar roles. To begin with the number of clients can be 1 to 10. She is currently creating success stories.

The Method

Any service should have a proven method for gaining trusts from clients. One of the easy way would be to share a proven method to audience.

Here is one way to do that using Automic habits. She study this and buy a copy of the book too. Go through all the excerises and prepare her self.

She will have to start her own journey first. She has to put the goals out there. I will pick the most common health goal to demonstrate an example. ‘Weight loss’ So she can put the stat with current picture and share the daily or weekly progress with the audience on any social media platform.

Thus creating a proven method of not only achieving the goal but also to keeping it going.

The Process

Once she has tested her methods and if it is showing resutls every time, She has to convert it into a measurable systems and look for a volunteer who would be her first client.

On average, it takes more than 2 months before a new behavior becomes automatic — 66 days to be exact.

Here is the link for above number. So the first client will be along with her for 8 weeks. Her system should involve weekly calls and followups, Some Daily messages and guide materials in case of any challanges.

She will only work on 1 Keystone habit. Because the client can use the framework and then build on other habits based on it.

First few clients she can work for free. Then her fees can be weekly in advance to keep it more interactive and personal. This will imply that the client is sincer about changing the habit.

Unique Selling PointPricing

There has to be an unique way to market the business hence the pricing could be a talk of the town. So we will use incentive method to charge the clients.

Let’s say the week fee for the the buddy is INR 2,450 only. There will be task and activity clubbed for each day so 7 days. If all the activity for the day is achieved than clients will get back 350 Rs for each day. Thus for completling all the task the service can be availed for FREE.

Once the 2 months is completed and the NEW habit is formed the client can choose to give a bonus fee as per thier wish. This indicates a litmus test that they really had a great expreince with the service and the life lesson is worth the money.

Your top health can skyrocket your confidence, that’s priceless

Flaws in the plan

  • It will take a long time before you have first paying customer.
  • It could be challenging to prove that the system works with any one.
  • Scalability could be challenging.
  • There are many cracks but this is the intial thoughts in words
  • The advantage would be that she will master the art of habit. That’s a life lesson.

Let me know what do you think about this idea in comments below?

Letter to Nishanth Shetty

Nishanth Shetty, is my cousin from the city of Bengaluru, India. He is interested in starting his own business. He is at a position where most of us are when we start on our own

  1. No capital (money) to invest.
  2. No Business expereince.
  3. No concrete Business idea/plan

This is most common start everyone has, they think about what they DON’T have. Rather than thinking about what they do have. Let’s look at what Nishanth has

  1. He is an amauter photograher (Camera worth 20K + OnePlus 7 phone)
  2. He is a rider (KTM Duke bike)
  3. He knows how to posts on Instagram

Now let’s create a back of the envolope business plan for him.

So what he has to do?

  1. He has to research if the KTM dealership has an Instagram account
  2. If it has he has to ride his KTM bike to the dealership.
  3. He as to ask who takes care of thier instagram account.
  4. He explains them that he will take 14 pictures per week. Thus increasing the engagement level on social media.
  5. If they seems interested than at last tell them that he will take 700 rupees for 14 pictures
  6. Tell them they have pay after each assignment.

Some metric target to aim for?

  1. He should atleast go to all dealers that sell KTM bikes
  2. He should keep trying for a month before quiting
  3. If he finishes before a month he should write down what he learn an pivoit

Some objection he will face

  1. No one will show interest and ask him to get out (Sales Rejection)
  2. They will be interested but won’t pay him money.
  3. They will bargain and ask for reduced price.

How to negotiate the objection (rookie way)?

  1. He should mention that he will research and shoot to make the photo better each time.
  2. The objective her to make the photo more likable and enaging.
  3. The end objective is to increase the follower count and popularity. But currently I am not guaranteeing it but if I could guarantee I would have charged 3 times.
  4. He should explain that he also has to make profit form this work.
  5. He should tell that he has to pay petrol price to reach the place.

How to work with discounts?

  1. Firslty don’t answer any one right on spot, get the phone number and tell them you will get back to them in few days.
  2. He has to set a monthly target first. Say for example he wants 20,000 per month.
  3. So if 7 are ready to pay and 3 ask for discount. Say no to the one who are asking for discount.
  4. If 3 are ready to pay and 3 are asking for discount. They he can take the discount.
  5. If there is only 1 or 2 asking for discount. Offer free work for 1st week.
  6. If no one is ready to pay at all. Work for free for 2 weeks i.e. 2 visits and 28 photos. To build your portfolio of work

So the bottom line is economics is demand and supply.

So Nishanth wish you all the best. See if this simple business plan works for you. Let me remind you its simple but it may not be easy. You may face a completely diffrent challange on the ground. Keep your focus on your learning business.

The week after the big training week

You must have taken at least 1 business training or any other training to improve your business and life. I did it many times before and a more recent one which is an year long program. A big commitment as a team. I was very excited and all set for the transformation it will bring to my business.

The training was magnificent something I have never experienced before.

  1. I felt lot inspired and more confident of making my vision a reality, even completed a long pending blog post I wanted to write long back. It was all good feeling, all the idea were already possibility in my mind. The life was all high!
  2. Chatted all possibility with my business partner, It was a party!!! We discussed  and discussed  all the to-do we can do, and we must do immediately. We stopped all the things we were trying to do and just went into all that happened and started discussing on all points we came across. I wonder it was more thinking and talking.
  3. Created a whats app group of all the students who came to the training. We all talked about all the amazing experience. Shared all the pictures and video. Appreciating each other strengths and wished each other for all success.
  4. Told all the detail stories to my wife. I was so pumped with all the experience from morning 9am till 3am in the night. It was all small story that popped up here and there. I keep telling her all the time for the week after my training.

WHAT I DID NOT DO?

I did not took any action in my real business that would move my Business forward.

Which means the week before my training and week next after my training was same. We worked in the business. For those who got it, will understand. For other I will explain it some other time.

Its with heavy pain I am writing this.

I took stock of my actions in the following week, I had to document this so that it may help some one out there. I think that, this is the number 1 reason why all the training you do doesn’t help. However having said that. I have got a way to implement all the learning. Let me try that and bring it to you how it turned out. Remember I am at the same position as your are in the journey of Entrepreneurship

Happy Entrepreneurship !

7 WEEKS 11 TOPICS

OPPORTUNITY 7 WEEKS 11 TOPICS.

Once you provide your email id, I will email you weekly 1 educational entertaining video on weekends.

I hate spamming, so I promise I wont spam you.

Enter your email id after clicking the below link

http://bit.ly/1TNixfQ

The topics covered will be following:

  1. Career
  2. Business
  3. Design
  4. Customer Discovery
  5. Customer Development
  6. Customer Experience
  7. Company Culture
  8. Marketing
  9. Sales
  10. Failure
  11. Startup

Each email will contain video for the duration of around 1 hour and some additional information with it.

These videos are from industry thought leaders who are leader of there own field.

I will start this on 3rd week of June 2016

Happy Learning!

1st Week: Careers @ https://www.youtube.com/watch?v=hsIcFf9pnCo

2nd Week: Business @ https://www.youtube.com/watch?v=4cs9zmGR7hk

3rd Week:  Customer Development, Customer Discovery and Failure @ https://www.youtube.com/watch?v=n-H7TAcqGko

4th Week: Marketing @ https://www.youtube.com/watch?v=xBIVlM435Zg and https://www.youtube.com/watch?v=OnXijAxiy8g

5th Week: Customer Experience, Company Culture and Startup @ https://www.youtube.com/watch?v=jJ5k_Byd9Fs

6th Week: Design @ https://www.youtube.com/watch?v=tBWFfxE2658

7th Week: Sales @ https://www.youtube.com/watch?v=DnKJDlaPI2c

Thanks for watching and learning.