Profitable Small Scale Industries- Money making Business ...

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Introduction

Coming up with a great business idea is just the beginning of your journey as an entrepreneur. Best startup business ideas means a lot to your startup business growth. People today follow their dreams and choose their passion over money. They are always in search of best startup business ideas which can feed their passion. They don't want to be get retired at the age of 60. They seek for happiness index instead of earning a high salary while living in big cities.

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Today, millions of people desire to start their own business, leaving the traditional 9 to 5 job. Most of the people in this world have to chase two or three carriers during their work life. One of the most gratifying things in the world is to work for yourself. Owning your own business, while it can be stressful, is meaningful because the effort you put in helps you personally, rather than building something for someone else. The key is that you must choose something that you are passionate about. This may mean a certain business or business model, or it might mean a particular business you have had your eyes on for a long time.

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Starting a business entails understanding and dealing with many issues--legal, financing, sales and marketing, intellectual property protection, liability protection, human resources, and more. But interest in entrepreneurship is at an all-time high. And there have been spectacular success stories of early stage startups growing to be multibillion-dollar companies, such as Uber, Facebook, WhatsApp, Airbnb, and many others.

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Here are few ways to identify more business opportunities:

In general sense, the term opportunity implies a good chance or a favorable situation to do something offered by circumstances. In the same vein, business opportunity means a good or favorable change available to run a specific business in a given environment at a given point of time.

Come up with an idea

Pick an idea that fits your passions, goals, strengths, resources, and tolerance for risk.

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Identify new business opportunities Spotting market opportunities is essential for business growth and survival. One of the best ways of identifying new business opportunities is to complete a SWOT (strengths, weaknesses, opportunities and threats) analysis.

Pick a Growing Sector/Industry When considering a new business, it is important to look at whether or not your idea is in a growing sector or industry. For example, a lot of start-ups in the IT sector in India did very well because there was huge demand in that industry and the growth was outpacing other industries. Investing in a stagnant sector/industry may not best serve your interests, unless you identify a market inefficiency that you can exploit.

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Profitable Small Scale IndustriesMoney making Business Ideas for Startup (when you don't know what industry to start) 2nd Revised Edition

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About the Book:

Author: ISBN: Book Code: Pages: Indian Price: US$: Publisher:

NPCS Board of Consultants & Engineers 9789381039922 NI187 520 975/100Niir Project Consultancy Services

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