5 Pro Tips to make the experience of starting a business easier

Many of us cherish the dream of running our own successful business. Our dreams are important and each one of us deserves a fair chance to make a wholehearted attempt to fulfill them. This is a good time for small businesses. India is home to over 60 million micro, small and medium enterprises (MSMEs), who contribute around 29 percent to the country’s GDP, according to industry estimates. Luckily, the advent of the Digital Age has opened up a new growth avenue for MSMEs in the form of e-commerce.                

 

Meticulous planning and flawless execution would go a long way in starting your own business. Sharing below with you, some vital tips to make the experience of starting a business easier. This is based on the experiences of several talented women students I have trained in my academy to become entrepreneurs and make a head start.

 

1. Plan, plan, and plan. Planning based on data is the key 1

 

Having a detailed plan which can take care of all contingencies can help you take the first step with conviction. This simply means that you have laid a very strong foundation for the business which you seek to build, including the financial aspects. 

 

During my initial years of working as a G.E.T. in Tata Motors, we were taught by Ratan Tata himself that a worthy business has the best chance to succeed if we have spent 70% of our time and resources in planning it with meticulous details.

 

Business owners would do well to plan after research into market needs, trends, and consumer sentiment. Data-driven insights can help you identify market gaps and business opportunities. A good step would be to partner with an e-commerce platform like Flipkart that helps you do all this. 

 

 

 

2. Build your brand with visibility and right positioning       

 

Lay a strong focus on letting your product or service speak of the brand you wish to create. At this point, you need to showcase your products and also catalog them in a way that leads to quick buying decisions. 

 

One of the woman entrepreneurs I spoke to had taken advantage of Flipkart’s seller hub to design and develop the product catalog. This kind of support is crucial in the early days of establishing your business.

 

 

3. Tie yourself with a strong e-commerce giant like Flipkart to increase your reach 2

 

Post adequate planning and getting ready with your product it is time to give your business an impressive reach so that you can get orders from far and wide seamlessly. 

 

As a small business, your resources may only allow you to sell locally. But internet penetration and digital awareness across the country means that being part of an e-commerce platform will be beneficial in having a pan-India customer base.

 

I recently read that Flipkart has opened several new fulfillment and sortation centers to support more and more small businesses, MSMEs, local artisans, weavers, and craftsmen sell through their robust e-commerce platform. 

 

This makes it a win-win situation for both the small sellers who get a fair price for their products easily as well as customers who get the best products right at the comfort of their home. I love how Flipkart stays committed to technologically transforming e-commerce in India. 

 

They can thus be instrumental in helping you start and build your business well.

 

 

4. Optimise costs 3

 

MSMEs selling online save on costs like not having to maintain a physical footprint. You would save on warehousing costs since an e-commerce platform does that for you. There is also no need to develop supply chains as you get support on this front too. If you have partnered with Flipkart, then the entire cycle of order to delivery to return or exchange is taken care of by the platform. Again, the entire process is backed by technology so that businesses can easily manage that at their end. 

 

 

 

5. Steer clear of any negativity and keep learning   4

 

When you start your business, steer clear of people who mock your endeavor. You need to keep learning, especially when it comes to new technology and market trends. Learn the art of selling online and upgrade yourself constantly. If you need, e-commerce platforms help you with training too. Flipkart has webinars and a self-paced learning platform to help small businesses get the edge when it comes to selling online. 

 

The future belongs to MSMEs and e-commerce is enabling them to become competitive business owners and I cannot wait to see how more women entrepreneurs make use of these opportunities.

 

 

 

References:

 

 

1 https://www.entrepreneur.com/article/277643

 

2https://storiesflistgv2.blob.core.windows.net/stories/2021/08/Flipkart-adds-four-new-fulfilment-and-sortation-centres-in-Maharashtra-.docx.pdf

 

3 https://www.business.qld.gov.au/running-business/marketing-sales/marketing-promotion/pricing 

 

4 https://www.forbes.com/sites/amymorin/2015/01/10/5-ways-to-stop-giving-negative-people-too-much-power-in-your-life/?sh=3074b89070c7

 

 

Kitchen transformations with new-aged gadgets and appliances that made my life easy

 

I had always been a smart planner at work, but the story was not the same in my kitchen. Courtesy of my elderly house help, it mainly ran the traditional way. But when the pandemic confined us at home with no help, I realized my kitchen needed a smart transformation, too, especially since these testing times have taught us that there is nothing more important than our health. So, if we haven’t prioritized it so far, there is no better time than now. Thus, began my meticulous research for worthy new-aged gadgets and appliances that made my life easy along with helping me maintain the good health of my family.

 

Balancing my time between my work and kitchen duties and maintaining the nutritional value of our food was constantly on my mind. So, the smart mom in me invested in some amazing and indispensable smart gadgets which save precious time and are super convenient to use. Love to share them with you all below.

 

1. A Versatile Refrigerator

A smart refrigerator is a must-buy in today’s times and is my go-to appliance as a working mom who loves planning things well in advance.

 

Especially in terms of refrigeration technology, we are blessed to have newer inventions each day. These are so technologically advanced now that they keep cooked and uncooked food items super fresh and even retain their nutritional value for the longest time. Today’s smart refrigerators can be connected to your phone and alert you if the door is left open or low on ice. Some of the more advanced models can even remind you that you are running low on groceries, like milk or eggs.

 

Honestly, I was spoilt for choice when I decided to get one. All of them looked equally enticing. In the current fast-paced times, it is recommended to invest in this one smart gadget so that you can safely put all your perishable eatables in one place and rest assured.

 

 

 

 

2. A Smart Dishwasher

Trust me when I say this there is no better appliance to aid you in your kitchen than a worthy dishwasher. The only kitchen chore which I have dreaded all my life is washing dishes. Fortunately, my all-new dishwasher does it for me just in a couple of button clicks within the set time. Easy-peasy, isn’t it? 

 

Not having a load of dirty dishes piled up in my sink saves me a lot of mental clutter, and I can invest my time more fruitfully. This needs to get added to modern Indian households where we love inviting our friends and family over dinner. This appliance indeed has become my treasured possession in the last year.

 

 

 

 

3. A Multi-Purpose Microwave

I am a strong advocate of a good microwave at home. It is an important lifestyle change that we need to embrace. A microwave makes several types of cooking, like baking, grilling, roasting, steaming, boiling, and blanching food items easy and quick. It provides a healthy way of satiating fried food cravings through their steamed and baked versions.

 

Microwaves are user-friendly and relatively more energy-efficient for reheating, etc. These days, even smart microwaves are available in the market, which can communicate with us through our phones.

 

In our everyday busy life, there are days when we may not have enough time to cook. At such times, with a microwave, our spouses can take up the responsibility for us. 

 

Even my twelve-year-old son can operate it comfortably and help mom and dad.

 

Honestly, these smart devices have brought in a division of labor in our family as all three of us now seamlessly manage our new smart kitchen together, along with our respective work or studies. Isn’t it a win-win situation for all? It genuinely is a very significant part of my gender-neutral parenting.

 

 

 

4. A Perfect Cook Top

A Cook Top is an essential part of our kitchen, and I took into consideration several important factors like efficiency, heating range, number of burners, etc., when choosing one for my home. Personally, I like both Gas stoves and Electric Cook Tops and use both of them. As I love slow cooking to maintain both health and taste in my food, I can easily set a timer on my cook top and not worry about the food until it is ready. 

 

Advanced Cook Tops available these days are truly magical as they have made cooking a less time-consuming and more enjoyable task. There is a myriad variety of Cook Tops available in the market, and you can be sure to find one that meets your requirements best.

 

 

 

5. A Worthy Chimney

We need to know the function of a modern kitchen chimney and why it is necessary for our kitchens today. A chimney has an internal fan and filter that removes smoke, heat, airborne grease, and odours. Thus, it aids in keeping the kitchen clean and prevents any harm to our health if this smoke, heat, etc., remain indoors by recycling the air.

 

I recently bought an Auto clean Chimney and I have found it really worthy. I thus recommend one to all of you. 

 

 

Now, I come to the most crucial question. Well, of course, I bought all of these around the same time but without burning a hole in my pocket. That’s because I didn’t pay for them all at once. Instead, I used the Smart EMI option for consumer durables from Kotak Mahindra Bank. Smart EMIs let you make big purchases on small monthly payments. Another smart choice, isn’t it? 

 

Wondering how you can take advantage of Smart EMIs too? Well, there are three ways:

• Opt for the EMI payment option when using your Kotak Debit Card for shopping

• Get a Smart EMI Card that lets you buy everything on EMI with easy repayments

• Choose the Instant In-Store EMI option by asking for a Kotak store representative at any partner store.

 

Kotak Smart EMI lets you repay with installments of 3, 6, 9, and 12 months, making it convenient and feasible. The best part? You can avail Debit Card EMI, Smart EMI Card or Instant in-store EMI when shopping from 14,000+ partner stores and 200+ shopping websites. 

 

Kotak Mahindra Bank is offering numerous exciting deals that you can cash in on today! 

 

While I could bring in the desired transformation to my kitchen, integrating my family’s good health and efficiency through these smart gadgets, my bank aided me to do so in my own chosen timeline. Isn’t that truly awesome? 

 

 

 

Disclaimer: This article is for information purpose only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. Bank make no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article is sourced from empanelled external experts for the benefit of the customers and it does not constitute legal advice from Kotak. Kotak, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein.