Finding jobs in today’s era has become really difficult and if you are working for someone your horizon is not as vast as it might be when you are involved in your own business. Running one’s own business is a long sought dream of nearly every individual because of the huge benefits but many of us fear to start our own business despite having great ideas in our mind. These fears are mostly due to two reasons first - being the fear of sinking all your funds and , the second - being the fear of risk of the unknown. A good businessman has tactics to avoid risks but if in any case a risk is to be taken then its losses should be least and profits should be high. If you don’t take risks, then your business might not prosper. The question every enterprising individual got to answer is to find an opportunity where the risk - reward quotient for the chosen business fit his or her individual appetite.
Thus, you may be one of the person who is going through the routine job life and pondering on starting your own, OR you may the one who already has a business who either wants to sell it off and start a fresh, OR you are the one who has found a formula for a successful business and is exploring possibilities to take a plunge to the bigger league by major expansion drive or starting your own franchise.
Whatever may the stage you belong for this moment, the fact is you would need to have contacts to collaborate with. While in old days, one would rely only on his / her personal contacts, now, with the advent of the startup eco system on line, it has become incredibly easy to find an eco system full of individuals who are sailing in the same boat and thus collaboration for business has never been so achievable as it is now.
In this article let's focus only on those individuals who are toying with a startup idea and yet to take the first step :
To start with ; coming to starting your own businesses if you believe you have a great business idea in your mind. At this stage either you can bootstrap... that is to use your own fund to get started... or you can publish your beloved idea and seek investments.
Gone are the days that ideas used to be treated like holy grails and were kept as secret. The fact that has emerged from the global startup success stories is, the critical role of execution and executor in making an idea convert to reality. So however great or average idea prima facie it may sound, the real success of business relies upon the individuals ability to convert the actionable in the operations.
So get yourself on the platform where the real people can evaluate the idea and its potential ... and seek funding to start the business with. In most cases, its not just about the funding, but the real value is derived from the quality experience that the investors bring in.
Angel investors as are popularly called, are the once who invest in business at very early stage and get you funding just enough to reach the next business cycle orbit.
Now while you have got some idea of the angels, lets quickly touch base on the advantages of publishing your startup ideas. Here is a list of few of them:
• Attract Business Angels
If you publish your startup ideas on a reputable forum, then they are most likely to come in the eyes of these business angels. If your ideas are creative, profitable and practical, then they will surely attract the investors at a faster pace than you expect. So you should definitely present your startup ideas in a very precise but concrete manner keeping them attractive from investor’s point of view.
A brief yet comprehensive pitch which covers the cost - revenue - operations - eco system - projections would be good to start with.
• Distributes the Burden of Risks
When you have other investor’s investing in your business, this will help you share the burden of risk among all the investors which means you don’t have to bear it alone. This makes you more daring to take risks which might make your business bigger and better within no time. Risk aversion is occasionally good but if you want to prosper then taking a risk is definitely worth it especially if you don’t have to face the burden alone.
So angels would invariably help you increase your tolerance and sustenance to accommodate a bit larger risks and thus, increasing your chances to reap larger rewards.
• Acquisition of Experience of Investors
When some investor finances your business idea, then that means they have been in the world of business for too long. This means they are more experienced and know more about the market trends, customer expectations, and predictions. They will help you make mature decisions and on the foundation of their experience, you can establish a strong business empire.
• Chances to Refine Your Ideas
When an investor agrees to invest in your idea that means it is quite lucrative but the experience and intellect of the investor can help you refine the ideas. As greater number of investors participate many new prospects come forward which might have otherwise been ignored. Thus, your idea and its applicability both are improved allowing you to earn greater profits.
There are many untold advantages of getting the right angel stand behind you. The journey of identifying the angel can be long and it a good idea to partner with the right people to lead you there.
BIZNOX (https://www.biznox.com/ ) is one such platform exclusively hosted to publish startup ideas which can be reviewed by hundreds of angels and venture capitalists. If your idea generates adequate interest and seems feasible, the angel Or Venture capitalist can directly contact the individual from where the process of detailed evaluation begins - typically face to face.
So while such platform exits, don't let the idea age in your mind... work upon it, and get started.
The BIZNOX (https://www.biznox.com/ ) is not just limited to startups and venture funding or private equity, you can also get yourself registered their and post your availability to join any other venture or business in lieu of equity. Thus, its one of the finest avenues we have in India to get associated with business without own investment.
Individuals with access to funds can also directly invest or even buy out whole businesses if they chose. Buying and Selling of business has never been so transparent and easily accessible to Indian Entrepreneurs.
So ultimately, weather you have a great idea to startup OR you have skills / resources to offer for other businesses , you may have funds to mobilize or you have a running business which can get boosted with someone else funds in the form of private equity............ whatever may be your status in the world of entrepreneurship - go for it. It pays to work on your dreams. Bon Voyage !
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