Thinking of Starting a Business

Thninking about entrepreneurship

Most of us have dreamt of Owning a business - at one time or another. And some of us have wondered whether Entrepreneurship would be appropriate for them.
smallB.in will take you through a series of steps to convert your Ideas and thoughts to viable business propositions.

A series of questions will help you examine your personal objectives and whether entrepreneurship is appropriate for you.
You will also discover the process of Identifying Business Opportunities all around. We will help you get Inspired with a specially designed section on 'Some of the Most Successful Start-ups' will. In addition, we present 'The Big List of Business Ideas' for you to chew on.

Subsequent section will help you go through the process of selecting the 'Right Business Idea' based on your Skills, Strengths and Resources.

In This Section:

Why Consider Entrepreneurship?

Why Consider Entrepreneurship

Putting Your Own Ideas to Work

The freedom to pursue your own ideas and intuition is a major advantage. You can spend your time and energy focusing on developing your own ideas and converting them into a successful business model.

You Are Your Own Boss

You make the decisions, you decide who to work with and decide what work to do. There may be instances where you don’t agree with the corporate culture of a firm, or how they conduct business. Here you get to choose how you will run the business, what corporate culture to instill. Google, at the start up stage had a simple motto- “Don’t Be Evil”. They are known to have a corporate culture which is far different to the prevalent corporate culture. By starting their own company, the founders had a chance to infuse culture and business practices they believed in and you can do the same when you start your own company.

Choosing the Location

Choosing a business location will be your own decision. You may choose to operate close to your market, or you may choose to operate close to home. The decision is entirely yours.

Large Earning Potential

By starting your own business, you will be the owner and own most of the equity. If your business is successful, you have the potential to earn a lot more. Some people may view their jobs having no career growth or financial growth prospects. If you feel the same way, then maybe it is time for you to consider starting your own business. However, the downside is that there is no guaranteed pay check, but then again, there is no guarantee for your job security as an employee.

Choose Your Working Hours

More than anything, this offers flexibility in working hours rather than working less. Most successful start-ups are the result of long hours and hard work. But the upside here is that you get to choose when to go on vacation, when to work and so forth. Just as long as you get the required work done, there is no stopping the flexibility.

Get Involved in the Operations of Your Business

Since the start-up is your idea, your business, you are free to involve yourself in any aspect of running the business. This is best illustrated by an example. Steve Jobs, the co-founder of Apple Inc., involved himself in every step of the business, right from idea generation to design, manufacturing, marketing and the in-store experience. He was able to devote himself entirely to his business and as a result his products and company are one of the best in the world. Seeing your business grow from ground up can be very satisfying and fulfilling.

Make Your Business a Family Asset

Many of us want to leave behind a sense of financial security for our family. For example, since you will own most of the equity in the company, you can pass it down to further generations so that they have a sense of security. Maybe your children can take over running the business from you when you are ready to retire. Family businesses can also provide employment to other members of the family.

Is Entrepreneurship Appropriate For You?

Is Entrepreneurship Appropriate For You

What Do You Love Doing? Or Love Doing In Your Job?

Consider your passions and what you enjoy doing. Many success stories have come from the fact that people pursued their passions and dreams. Think about this- would you be happy working 40+ hours a week on a job that you don’t like or would you rather spend those hours working on something you love doing.

Are You Excited About Your Idea?

Enthusiasm will be extremely important to the success of your idea. After all, if you do not get excited or generate enthusiasm by thinking of starting your own business or your idea, then how will it be different to your current job? Your enthusiasm will make others sit up and take notice of your idea/business.

Is Different Enough?

Many people are under the illusion that there are no new ideas out there.  While that is not true, you have to consider the fact that very few businesses are 100% different from others. What you need is an idea that Target Segment cares for and is willing to pay for it.

Look at the Ford Company for example. Cars were being manufactured before, so making cars was not a revolutionary idea. They modified the manufacturing process and reaped huge benefits. The lesson here is - Improving upon an existing business model could be a great strategy.

Would it Pain You if You Never Pursued the Idea?

Regretting not following up on your business idea can be as painful as the fear of failure. While this doesn’t mean that you should pursue every single idea you have, give yourself a chance to succeed with the one that you truly care about.

Is it Worth Giving Something Else Up?

This is a very subjective question. Each person will look at it differently. Sacrifices may include giving up the perks that come with a corporate job. Since you will have to invest a lot of time in your start-up, this may mean that you would have to sacrifice spending time with family, friends. Starting your own business may also mean that you will have to live on a tightened budget for a while.  You need to look at the potential sacrifices you will have to make. If the list is too long, or you cannot cope with the sacrifices then it may be that you are not ready for entrepreneurship just as yet.

What Have Your Life Experiences Been?

Your past experiences will help determine if you should consider entrepreneurship. If you are unhappy with your current job, or face limited career prospects, then you should consider becoming an entrepreneur.

How Strong is the Feedback?

Feedback is essential to the development of your idea from just a thought to a full-fledged business. Try to see how people react when you present your idea to them. Receiving feedback from discussions with people may mean that your idea has interested them. Developing your idea is an on-going process and if your idea is garnering interest then you are on the right track.

How to Identify Business Opportunities?

Identify Business Opportunities

Identify Market Inefficiencies

When looking at a market, consider what inefficiencies are present in the market. Do you have an idea on how to correct these inefficiencies? Consider the example of FedEx or Agency FAQs. FedEx identified inefficiencies in the package delivery market and strived to correct this inefficiency by providing fast and reliable delivery of packages. This spawned the creation of the courier industry as we know it today. Similarly, Agency FAQs saw that there was an unmet need in the market. There was no information portal for professionals working in the advertising sector. They aimed to fill that gap and now they are one of the largest websites in that segment.

Remove Key Hassles

Take a look at some of the key hassles customers face when buying or using a product or a service.

You don’t necessarily  have to have a new product or service. You can be innovative and improve a product, a service or a  business process.. Purchasing processes in some products categories are still a major source of irritation for customers. Think how you can improve and provide a superior alternative.

For example, look at how the search engine market developed. There were millions of websites on the Internet and it was often very hard for customers to find what they were looking for. Searching an index of webpages (on Google, or Yahoo) made it much easier for customers to find information they were seeking.

Customers Desire to Experience Something New

You may or may not have a new business idea or business process to serve a market. And perhaps there are no market inefficiencies for you to exploit. But sometimes, gaging the customers’ desire to experience something new can be a successful strategy. Can you innovate on customers’ experience in existing business models?

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.

Product Differentiation

Creating superior products or services vs. alternatives is important for winning in the market place. What factors will set your product apart from the existing ones? If there is no such differentiating factor, your potential customers may just stick to the existing product rather than adopt yours.

Cash Flow Considerations

At the start-up stage, cash flow considerations are just as important as any other business function. If you run out of cash, despite holding inventory or other assets, your business will risk failure.

There are some types of businesses in which cash is typically held up for a long time. If you are in manufacturing for example, your cash flow can be held up for long periods of time, or money may be stuck in receivables. When picking the right business, you should consider one that provides fairly regular cash inflows and with slower outflows (if possible). It is imperative that you understand the need for constant cash flow in your business. Without cash flows, no matter how good your idea or business process is, you might be destined for failure.

Is it a Seasonal Business?

When picking a new business - consider whether it is seasonal or the year round.

If you do decide on a seasonal business, you will need to consider how to operate during off-season months.  Managing the cash you make during the season will help you get through off-season. Financial planning will be of utmost importance.

 

Get Inspired By Successful Startups

Successful Startups

Take Inspiration from some of the most successful Startups. Understand the key factors contributing to their success.

Name of the Company About the Company - कंपनी के बारे में What Made it So Successful? कंपनी की सफलता का कारण How did it Start? शुरुवात Website Link - लिंक Media Coverage
OLX

OLX is an online classifieds site. It allows users to design advertisements with pictures and videos and display them on their social networking profile. It also allows users to control their selling,buying and community activity in My OLX and also access the site from their cell phones and also allows them to view OLX account in their local language. It basically hosts free user-generated classified advertisements for urban communities around the world. It also provides discussion forums sorted by various topics. OLX is used in over 105 countries in 40 languages.

OLX was the first site which made it pretty big globally in the field of transition from paid classifieds in newspapers to paid vertical real estate and job sites and free horizontal classifieds sites. In developing markets it is important to have trust in the people you are interacting with and hence integration with Facebook,Twitter and an innovative usage of posting pictures and videos on these social networking sites proved beneficial to the success of OLX. Also OLX can be accessed from any Windows, iOS and Android device. In addition every single act on OLX is reviewed before it goes live.

OLX was founded in March,2006 and is privately held. It is based it New York City and Buenos Aires,Argentina. The company offers its services in United States and internationally. OLX gained prominence upon announcing a partnership with Friendster, a social networking website.

flipkart.com

flipkart is an indian e-commerce company. It is an online shopping site started in 2007 which initially focused on online sales of books,but it later expanded to electronic goods and a variety of other products. It is amongst the top 20 Indian websites. On an average flipkart sells nearly 20 products per minute and has a registered User base of two million customers. In 2011, flipkart launched a new Electronic Wallet that allows shoppers to purchase credit to their flipkart account using credit or debit cards and can be utilised to make purchases on the site as and when required. Also flipkart acquired the sites Mime360.com and Chakpak.com in 2011 and launched its own Flyte digital music store which offered a legal music download service of international as well as regional songs.

flipkart enjoys top of the mind brand as far as buying books is concerned. It has over 11.5 million titles in offer which undoubtedly makes it India's largest online bookseller. Flipkart offers multiple payment methods like credit card,debit card,net-banking,e-gift voucher and Cash on delivery.One area where Flipkart has scored strong is reading the virtual Indian consumer mind. Though the ecommerce user has matured, a large segment is still hesitant to make transactions using credit/debit card. The cash-on-delivery model has undoubtedly got them with going with the web conservatives. It also allows users to buy products without registering with alternatively providing Facebook and Twitter sign-in. This makes it easier to buy products without registering and remembering another online password. Moreover, you get a 15-20% discount on every book purchase, and free shipping for every order of more than Rs. 200. Also flipkart has an amazing well-oiled warehousing and delivery system. This ensures that deliveries occur within promised times all over India.

Flipkart was started in 2007 by two alumni's of Indian Institute of Technology,Delhi. It started with selling books and branched out to selling CDs,DVDs,mobile phones and accessories and peripherals,pens and stationery,home appliances,kitchen appliances,personal care gadgets,health care products,A.C,air coolers,school supplies,office supplies,art supplies and lifestyle products. As of today, Flipkart employs more than 4500 people.

Amul

Business Size | Operations:

Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF), is India's largest food product marketing organisation with annual turnover (2010-11) US$ 2.2 billion. Its daily milk procurement is approx 12 million lit (peak period) per day from 15,712 village milk cooperative societies, 17 member unions covering 24 districts, and 3 million milk producer members.

High Quality Milk Products; Innovative Advertising; Effective Use of Humour & Consistent Brand Identity. Known throughout India for the Amul girl, their innovative products (dahi, ice-cream and a variety of cheeses). The products are available almost everywhere in India.

Establishment of a direct linkage between milk producers and consumers by eliminating middlemen. Milk Producers (farmers) control procurement, processing and marketing.Professional management.

the Kaira District Co-operative Milk Producers Union Ltd. began with just two village dairy co-operative societies and 247 litres of milk and is today better known as  Amul Dairy. Amul grew from strength to strength thanks to the inspired leadership of Tribhuvandas Patel, the founder Chairman and the committed professionalism of Dr Verghese Kurien,who was entrusted the task of running the dairy from 1950.

Gitanjali Group

Gitanjali Group is a diamond and jewellery house, one of the largest branded jewellery retailers and one of India’s largest manufacturers, retailers and exporters of diamonds, a DTC Sightholder and a global frontrunner. Gitanjali Group's operations include rough diamond sourcing, cutting, polishing and distribution, to jewellery manufacture, which involved designing, mould making, wading, casting, sprue grinding, filing, polishing and setting. Gitanjali Group’s operations span the globe from USA, Europe, Middle East, South East Asia, China and Japan.

Gitanjali Group captures the entire jewellery market with multiple brands for multiple markets and price segments. It brought diamonds within reach of a wide consumer base being the first to offer diamond studded jewellery at affordable prices, of standardised designs, quality and pricing across locations. Gitanjali Group offered jewellery in diverse styles of traditional, international, classic, and casual for of all age groups, tastes and budgets. It expanded rapidly by opening up distribution via superstores, department stores and other retail outlets at MRP, supported by international certifications of scientifically tested purity and authenticity, across India and in the world’s jewellery capitals.

Gitanjali Group was founded in 1966 as a single company cutting and polishing diamonds for the jewellery trade at Surat, Gujarat. In 1990, it started Gitanjali Creations, a 100% Export Oriented Unit at Borivli, Mumbai with which the Group integrated forward from diamonds to diamond-studded jewellery.

Naukri.com

Naukri.com provides recruitment classifieds and related services to job seekers and Corporate Customers. It provides assistance to job seekers in preparing resumes and listing them on the website. For its employer and recruitment consultant customers, the site lists/advertises their job vacancies, provide tools to conduct searches in its database of resumes and provide job application screening programs. As of March 2011, Naukri.com had a database of about 25 million registered job seekers and over 80,000 live job listings from Corporate Customers.Parent company Info Edge (India) Limited is India’s premier on-line classifieds company in recruitment (www.naukri.com, www.naukrigulf.com, etc.), matrimony (www.jeevansathi.com), real estate (www.99acres.com, www.allcheckdeals.com), education (www.shiksha.com) and related services.

Naukri.com was one of the foremost players to leverage the power of internet and growth in economy/IT/ITES to drive the online job market. It has a strong brand presence, largest database, most clients, highest traffic share, largest number of jobs, sales networks and product/technology innovations. Naukri.com’s success has continued due to increasing internet penetration and India demographics.

Naukri.com was launched in March 1997. It is supported by four recruitment offerings Naukrigulf.com which targets the Middle Eastern market with offices in Dubai, Bahrain, Riyadh and Abu Dhabi, Quadranglesearch.com offering offline placement services for middle and senior management, Firstnaukri.com focusing on hiring of fresher graduates from campus and Brijj.com offering a professional networking site thereby creating a full service in the jobs space.

Ittiam Systems

Ittiam Systems is an Embedded Software and Systems Design company which specializes in Digital Signal Processing (DSP) based applications in multimedia and communications domains. It is India's first technology firm to be based on licensing of intellectual property. Ittiam Systems was awarded the title "The world's most preferred DSP IP supplier" in the DSP Professionals Survey 2006 by Forward Concepts, USA. It is also a winner of India’s prestigious NASSCOM Innovation Award and several other recognitions from Government and industry.

Ittiam Systems creates special algorithms to make the best use of limited processing power available in smartphones and tablets. It provides customised Application Software, Multimedia IP, Board Support Packages and Hardware Systems. Ittiam is also enabling applications in advanced audio such as surround sound and camera features like low light and panoramic photography.

Founder of Ittiam Systems, Srini Rajan is former managing director of Texas Instruments (TI) India and was responsible for making Texas TI one of the most valuable R&D centres for TI globally.

Druva Software Pvt Ltd

Druva is a company providing an integrated platform for endpoint backup, secure file sharing, data loss prevention and real-time analytics. It enables a simple, one-click restoration of any file or backup volume. The company sells its products to over 1,200 customers across 26 countries.

Druva’s inSync endpoint backup solution offers industry’s best storage and bandwidth savings in user friendly manner to the most demanding enterprises. The inSync backup and data loss prevention solution is available for laptops, mobile devices, smartphones and laptops which helps in configuring critical data for automatic backup, so they can be accessed and restored anywhere, anytime. This data can be tracked and also be deleted via remote if the device is stolen. Further, inSync file sharing and collaboration offers IT unified policy management for end-to-end data protection and collaboration. InSync uses a technology called App-Aware Deduplication which instead of duplicating the files, it only sends a copy of modified data to the server which saves upto 90% of bandwidth and storage due to only a single instance of data being stored. It also offers advanced wide area network (WAN) optimisation capabilities enabling smoother data transfer.

Druva was started in Pune in 2007 and has since expanded with offices in USA and UK.

UTV Group

UTV Group is India's first integrated global media and entertainment company. The group functions across 5 verticals all of which allow for synergy across in terms of content development, communication and development of thought leadership. The 5 verticals are Broadcasting, Games Content, Motion Pictures, Interactive and TV Content.

UTV Group was one of the first to introduce cable television in Mumbai that provided three hours of uninterrupted viewing of films by means of a cable service. UTV Group grew from a cable network provider to a media giant and pioneered in adopting a modern corporate studio approach to film production. It backed programs and films which were entertaining and content heavy. It partnered with international media giants such as Walt Disney, Fox Searchlight, Sony and Overbrook Entertainment to extend its international reach.

UTV Group was initially engaged cable TV services, production of television content for Doordarshan and also production of ad films. With the entry of satellite TV, it became one of the largest content providers in India. It ventured into the business of acquiring programs from outside producers and marketing airtime on their programs. In 1995, UTV engaged in the business of providing post-production facilities to television software houses, private producers and advertisers through the acquisition of a production company which was later renamed United Studios Limited. In 1996, the company ventured in movie distribution business; in 2000 in the business of Internet content creation and in 2002-03 in the business of post-production, special effects and animation business through the acquisition of Western Outdoor Media Technologies Limited.

Multi Commodity Exchange of India

MCX is a state-of-the-art electronic commodity futures exchange with permanent recognition from the Government of India to facilitate online trading, and clearing and settlement operations for commodity futures across the country. The exchange has over 2000 registered members operating through Computer-to-Computer Link (CTCL) trading terminals spread over 1,577 cities and towns across India. MCX was the third largest commodity futures exchange in the world, in terms of the number of contracts traded in FY2011.

MCX offers more than 40 commodities across various segments such as bullion, ferrous and non-ferrous metals, energy, and a number of agri-commodities on its platform. It was the first exchange in India to initiate evening sessions to synchronise with the trading hours of global exchanges in London, New York and other major international markets; the first exchange in India to offer futures trading in steel, crude oil, and almond; MCX launched MCXCOMDEX, India’s first real time composite commodity futures index. The exchange is the world's largest exchange in Silver and Gold, second largest in Natural Gas and the third largest in Crude Oil with respect to the number of futures contracts traded.

MCX was started to facilitate online trading, and clearing and settlement operations for commodities and commodity futures across the country. As on March 2012, MCX holds a market share of over 86% of the Indian commodity futures market.

IndiaBulls Group

Indiabulls Group is a business house with strong presence in sectors of real estate, financial services, securities and power. Indiabulls Group companies are listed in Indian and overseas financial markets. The Group has grown in scale and size and has been conferred the status of a ‘Business Superbrand’ by The Brand Council, Superbrands India. According to Forbes (2008), Indiabulls founder Sameer Gehlaut is India’s youngest self-made billionaire and, he is the 92nd richest person in the world and 45th richest in India.

Indiabulls Group started with financial services offering brokerage services and built one of the first online platforms in India for offering internet brokerage services. Its in-house trading platform is one of the fastest and most efficient trading platforms in India. Indiabulls Real Estate’s flagship 7 million square feet high-end residential and commercial development in central Mumbai has won many awards for the best office property. The group has successfully delivered value for its customers, partners and shareholders by way of superior products, services and timely execution within a short span.

In 1999, founder Sameer Gehlaut and his friend Rajiv Rattan brought a defunct securities company with a NSE membership and started offering brokerage services. Post the Indiabulls Financial Services IPO in 2004, the group diversified into real estate business by winning auctions of defunct mills lands in one of Mumbai’s prime area of Lower Parel. The group later ventured into power sector building thermal power plants.

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The Big List of Business Ideas for Small Business

The big list of Business Ideas

The Big List of Business Ideas for your Small Business.

Scan these Ideas and evaluate thoroughly if you believe the Idea you like has potential in your area.

smallB does not provide Project Reports / Technology details for the Ideas listed here at this point of time.

External Links are provided just for your general understanding and do not indicate our recommendation for the same.

smallB does not take any responsibility for reliability of the source and appropriateness of the idea for your particular situation.

You must do your own research and make a detailed Business Plan / Detailed Project Report before you proceed any further.

Please see the following Link for further details:

Step by Step Guide For Starting a Business

How to get Collateral Free Loans

Business Ideasort descending Description of the Idea Rate the Idea Links & Resources Discuss Business Ideas
'How To ........' Videos

The organization creates 'how to ......' videos for a large number of tasks. The profit is made from the advertisements on the website.

Average: 3.6 (152 votes)
Concept & Examples
3D entertainment

This is a new form of entertainment in India which provides an experience of virtual reality. Hence 3D, 4D and 5D theatres which provide new experience to the viewers are rapidly growing in India. And this experience is unique since it is multisensory.

Average: 3.5 (63 votes)
Concept & Examples
3D Printing

3D printing is a field which is growing at an unbelievable rate.A 3D printer can be bought or even made in some cases for a small initial investment.For Example: Phone cases have already been proved as a great profit generating sector by various small 3D printing compaies around the world.

Please read this article to understand the importance of this topic

Average: 3.7 (92 votes)
Concept & Examples
3d Visualization Recruitment Services

In the field of 3d architectural visualization, most training classes do not guarantee job placements. There are many small firms that are house operated and one does not know about them, even job portals do not have them on their list. You can visit your city, surf internet and find out most of such small firms that pay well to their employees and act as a recruitment agent.

Average: 3.4 (42 votes)
Concept & Examples
Acupuncture

The organization will send people who have knowledge about acupuncture to improve the health and fitness of clients for a fee.

Average: 3.8 (53 votes)
Concept & Examples
Adventure Tourism

The organization handles various trekking or camping tours for people who want to have an adventurous vacation.

Average: 3.5 (44 votes)
Concept & Examples
Advertising

Using new techniques for advertising in order to increase client satisfaction like balloons, banners etc.

Average: 3.5 (47 votes)
Concept & Examples
Advertising with Entertainment

The organization will create videos which are disguised to be meant for entertainment but they do also serve as advertising for some companies. The video is not centered on the product yet the viewer will be influenced.

Average: 3.8 (43 votes)
Concept & Examples
Aerobics Center

As people are becoming health conscious, fitness programs have gained popularity. There is a huge demand for fitness clubs focussing on various fitness programs. One can start aerobics center providing the best training to improve overall health.

Average: 3.7 (16 votes)
Concept & Examples
Affiliate Marketing

Create a website that promotes other organization's products or services for a commission.

Average: 3.7 (57 votes)
Concept & Examples
Agriculture Consultancy

The organization will give advice on which crops are best suitable to the particular conditions like climate, irrigation facilities, capital etc. For this the organization will take a consultancy fee.

Average: 4 (52 votes)
Concept & Examples
Air Charter

Provide companies and other organizations chartered aircrafts for a particular cost for transportation of people and/or products.

Average: 3.9 (34 votes)
Concept & Examples
Air Compressor Manufacturing

Set up a small scale compressor manufacturing business.

Average: 4.1 (34 votes)
Concept & Examples
Alcohol Free Hand Sanitizer

With increased importance on hygiene, people are using sanitizers to keep their hands clean. The need for sanitizer is more is households with newborn kids. Most sanitizer companies are providing alcohol based sanitizers, which is not preferred by people who don’t like to use alcohol as a cleaning agent, as they have to perform their prayers (pooja/namaz). This creates an opportunity for this business.

 

Average: 4 (21 votes)
Concept & Examples
Algorithm Developer for Teams

Create algorithms that determine which people will work better in which team through a collection of objective questions. Thus the group made will be made impartially and personal equations will not be considered. This is of growing importance as in most organizations team based approach for problem solving is followed.

Average: 3.9 (19 votes)
Concept & Examples
Ambulance Service

Get into a contract with a hospital or directly set up a service for providing ambulances.

Average: 3.8 (38 votes)
Concept & Examples
Amphibious Advertising

This technique uses inflatable display systems. Thus the billboard can be placed on any surface, land or water - caters to a larger segment of the target market.

Average: 4.1 (28 votes)
Concept & Examples
Angel Investment

Invest in other business ventures to gain better returns if the company does well.

Average: 3.8 (46 votes)
Concept & Examples
Animal Assisted Therapy Services

Provide animals like dogs to assist therapy of mentally challenged and/or patients undergoing severe stress. This uses the fact that these animals have a healing and calming affect on the people.

Average: 4 (27 votes)
Concept & Examples
Animal Registration

The organization will assist in the registration of pets for a fee. Also it will look after the registration and identification records of these pets.

Average: 4 (24 votes)
Concept & Examples
Antique Shop

Own an antique shop which sells, buys and provides consultancy for antiques. The antique shop could be centric over an era or some articles in particular like jewellery or vases.

Average: 3.7 (28 votes)
Concept & Examples
Apprenticeship Training

The organization will link the apprentice to an accomplished person in that field for a fee.

Average: 3.8 (26 votes)
Concept & Examples
Arcades

The organization sets up and runs arcades which have arcade games for kids, teenagers and young adults .

Average: 4.1 (28 votes)
Concept & Examples
Aromatherapy

Aromatherapy is the practice of using volatile plant oils, including essential oils, for psychological and physical well-being. You can start a service to provide aromatherapy, you can also sell essential oils for aromatherapy at home.

Average: 4.1 (9 votes)
Concept & Examples
Auction Selling

You can sell and resell products through online sites like ebay, amazon for a profit

Average: 4 (38 votes)
Concept & Examples
Auto Components

Manufacture different auto components such as clutches, axels, bumpers, shock absorbers, gears etc. Auto components is one of the fastest growing segments in the economy.

Average: 3.9 (77 votes)
Concept & Examples
Auto Service Station

There is a drastic increase in the number of cars and vehicles due to the growning population. Therefore you may think about setting up an after sales service centre. It could cater to all the needs of the cars and provide them servicing. Also you may start a second hand dealership which could also be very profitable.

Average: 4.1 (42 votes)
Concept & Examples
Automatic Food Dispenser For Pets

This food dispenser automatically gives out food of specific quantity at a specific time for dogs and cats when the owners are away.

Average: 4 (36 votes)
Concept & Examples
Aviation Services

With the advent of smaller aircrafts, flying has become more accessible to the public. If you have avid interest in flying then you can set up a flying club along with your friends. You can also conduct training sessions for the people. At the same time you could ferry these planes or helicopters between locations and make money as a taxi service.

Average: 4 (41 votes)
Concept & Examples
Baby Clothes Rental Service

As babies grow out of their clothes in a few months, this service helps parents use baby clothes (sometimes even designer) for a fixed fee per month. This has the potential to be profitable as both the customer and the organization gain.

Average: 4 (33 votes)
Concept & Examples
Baby Hand/Feet Impressions

Create baby hand or feet impressions in brass for a cost.

Average: 3.9 (45 votes)
Concept & Examples
Baby Toys & Accessories

India being one of the nation’s high in birth rate, toys/accessories like walking cradle, pram, kids motor bike, designer cycles, baby swing etc. can be seen as a lucrative business. Though there are websites like firstcry.com & babyoye.com catering to this need on a large scale, their product range mostly includes branded products like fisherprice which not everyone can afford. There seems to be not many established players offering such products (non branded - mainly from china) at affordable price to cater middle/higher middle class earning segment of the society.

 

Average: 3.9 (8 votes)
Concept & Examples
Background Check

The organization will do a background check of potential employees and clients of a company for a fee.

Average: 4 (37 votes)
Concept & Examples
Bakery

Bakery business provides a range of products like muffins, doughnuts, cakes, different type of breads etc. These products can be sold at storefront retail to the customers and/or can be sold to shops & hotels as distributors.

Average: 3.9 (49 votes)
Concept & Examples
Bamboo shop

An outlet selling Bamboo products like planks, tiles, balusters, mats, veneer, plywood, boards, etc.

Average: 3.6 (37 votes)
Concept & Examples
Banquet Business

Large banquet halls are required for business meetings, weddings and birthday parties. This organization will rent out these banquet halls for these events for a fee.

Average: 4 (42 votes)
Concept & Examples
Barter Systems

The organization will find people or other organizations who want to trade products required by someone for some other products. For this the organization will keep some commission which would then be the revenue of the company.

Average: 4 (32 votes)
Concept & Examples
Basket weaving

Start a business that manufactures and sells made-to-order baskets. This can reap in good profits as people from all walks of life are always searching for the perfect article for home decoration.

Average: 4 (35 votes)
Concept & Examples
Bathroom Fittings

With rising craze for interior designing & home decoration industry, there seems to be an opportunity to provide designer fittings for bathroom. You can either focus on a niche segment of population or can cater with various budget range products.

Average: 3.1 (16 votes)
Concept & Examples
Battery Manufacturing

The use of batteries is prevalent in almost all aspects of modern life.  Batteries find application from use in personal electronic appliances to commercial vehicles.  Thus, there exists a market for all sizes.  

Average: 4.1 (53 votes)
Concept & Examples
Beauty Care Products

The need to look good creates demand for beauty care products. You can start a range of beauty care products; the key is to offer what other brands don’t offer. There are brands currently selling range of beauty care products including herbal products, organic products, ageing products, fairness products etc.

Average: 3.5 (11 votes)
Concept & Examples
Beauty Salon

Most of us want to look beautiful/handsome, presentable and up to the mark. The need arises due to many occasions may it be a wedding, corporate meeting, a date or general beauty consciousness; it leads to opportunity of starting a business that caters to this need. A beauty salon can be started providing various services for this segment.

Average: 4.3 (12 votes)
Concept & Examples
Bed and Breakfast

Is fast becoming very popular with travelers. Provide your customers with a place to rest at night and a meal in the morning.

Average: 4 (37 votes)
Concept & Examples
Birds Sales

Pure bred pigeons and cockatiel birds are desired by many as they can be trained easily. This organisation will look into this.

Average: 3.8 (38 votes)
Concept & Examples
Boardroom Facilities

Many small business  houses do not have Boardrooms of their own. You can develop one of your own and hire it out to such business houses.

Average: 4 (31 votes)
Concept & Examples
Boat Dealers

Give boats on rent for trips and tours for a particular fee.

Average: 4 (29 votes)
Concept & Examples
Body Building Supplement

Arrange and sell body building supplements at discounted price to various gym and fitness centres or individuals

Average: 4 (16 votes)
Concept & Examples
Body Piercing

Body piercing is taken as a fashion statement. There is craze among people especially youngsters to pierce their eyebrows, face, belly etc. to look cool. You can start a piecing parlour or an online service to cater this demand.

Average: 3.6 (8 votes)
Concept & Examples
Box and Carton Manufacturing

Produce boxes, corrugated boxes and cartons in a variety of sizes and designs to suit the needs of your customers.

Average: 3.9 (122 votes)
Concept & Examples
Breeding Exotic Fishes

These fishes are bred in particular environments with particular food requirements. This is of growing popularity as people now believe that fishes carefully chosen could vary the overall decor of the room.

Average: 3.6 (41 votes)
Concept & Examples

Pages

Franchise Opportunities

Consider Franchise Opportunities

Opportunity to Learn

This is another reason why so many people consider entering into a franchise agreement. This will assist you in the development and operations of the business. In other words, they will teach you how their business model works and will show you how to leverage it into profits. They will provide you with manuals and other reference materials on how to run your business effectively. For you as a first time entrepreneur, this can be very useful as you will have the opportunity to learn a lot. For example- they will provide you guidance on hiring employees, monitoring their performance, keeping operations efficient and a host of other issues.

Less Risk

Starting a new business from scratch can have Risks. There is every chance that your business might not perform as well as you expected. If you are concerned about the potential risks of your business, you may want to consider a franchise. Usually, you will have to pay the franchisor a fee. A successful franchisor has a tried and tested business model, and it will have reduced most of the mistakes that you will make if you start your own business. Read on to see what other benefits you can gain from a franchise.

Successful Model

Consider Subway as an example - they have upwards of 22,000 franchisees. In many studies, they are considered the best example of a franchising system. They have developed a model which is easy to replicate and has been proven to provide successful results. Another aspect of using the franchise model is that your costs may be reduced. Highly successful franchises usually have a well-developed supply chain, which will help in getting materials on time and reducing costs. Part of the model is proven products. Such products are well known to customers and have gained widespread acceptance. Taking McDonald’s as an example, customers associate their products to be hygienic and of high quality. Thus consumers will associate your franchise with value and this will be a big boost to your business prospects.

Pre-Opening Support

Some examples of pre-opening support provided by franchisor are- financial support, design and construction support, site selection and an opening program. Some franchises may require you to bring a certain percentage of capital costs to the table and they would provide the rest. In store design can be very important to some brands. Thus they might be willing to help you in designing an ideal layout for the store as well. The location of your franchise is of extreme importance. If you take a look at Starbucks, their outlets are at all major locations at exit and entry points at malls, for example. Thus your franchisor will help you look at potential locations and help you with rent and other financial issues. A grand store opening program can help you garner a lot visibility in the eyes of your customers. Some franchisors may be willing to help you with your store opening. After all, good business for you means good business for them.

Marketing Support

One of the major advantages of a franchise model is the marketing assistance you receive. Building a brand from scratch can be a very daunting task, especially for a first time entrepreneur. They will provide you with various plans and schemes which help you to attract new customers as well as retain them. Their staff will help you determine budgets and provide you advice on which strategies to pursue and which to discard.

Ongoing Support

Apart from support before operations commence, franchisors will also provide you with ongoing support. They will provide you with guidelines as to how to run your business. Many franchisors have strict standards, which you will have to follow in order to be successful. Also, some may be ready to provide you help and guidance during rough times. Thus even if you are a first time entrepreneur, with little or no experience in running your own business, you can be assured that there is help available to you.

Real Estate Assistance

Your franchisor will help you to locate and decide the best site for your business. This can be very important for the fast food as well as retail business. These often need to be in prime locations to attract customers. They will assist you in construction and layout of your store. Referring to McDonalds, again- they usually buy property in prime locations and then rent it out to their franchisees.

 

Franchise Opportunities in India

Please click here to see Franchise Opportunities in India

 

Successful Startups: 

Franchises can help you succeed in business with their proven business models, training, promotions, as well as support.
1. You must do your research on Franchises with an excellent track record of successses.
2. Make sure you have personally visited at a few Franchisees youself and experienced their offerings.
3. Research sufficiently to ascertain that Products and Services have high likelyhood of success in your town / area.
4. Meet company officials and get full details on training, tools and support provided by them.
5. Lastly, have a full understanding of costs and margins that you will have to share with the Principals.
Note: Please contact the companies directly for further details. We have provided Links for your convenience.

Pages

Access Technologies For Commercialisation

Access Technologies
Access Technologies from IITs and other premier Institutions for Commercialization
Technology Image (click to enlarge) Description See details Contact Details

Biomass Gasifier technology

Biomass Gasifier Image Biomass gasification is a process of converting solid biomass fuel into a gaseous combustible gas (called producer gas) through a sequence of thermo-chemical reactions. The gas is a low-heating value fuel, with a calorific value between 1000- 1200 kcal/Nm3 (kilo calorie per normal cubic metre). Almost 2.5-3.0 Nm3 of gas can be obtained through gasification of about 1 kg of air-dried biomass. Since the 1980’s the research in biomass gasification has significantly increased in developing countries, as they aim to achieve energy security View details

Link

Novel Electric-Motor-Powered Drive System

Novel Electric-Motor-Powered Drive System An electric-motor-powered, in-wheel drive system using an inverted switched reluctance motor drive to provide improved efficiency, greater compactness and maintenance free vehicle operation system. View details

Link

Synthesising Poly Lactic Acid Clay Nanocomposites

Synthesising Poly Lactic Acid Clay Nanocomposites A process for preparing polylactic acid-clay nanocomposites by monomer intercalation, followed by polymerisation of lactide in clay. In case of lactic acid monomer, the process yields effective dispersion of polylactic acid prepolymer and clay, via intercalation and exfoliation of the clay with an oligomer and metal based catalyst followed by melt polymerization of lactic acid oligomer in clay. View details

Link

High Molecular Weight Crystalline Polylactic Acids

High Molecular Weight Crystalline Polylactic Acids A method to make high crystalline lactic acid polymers of high molecular weight. View details

Link

Supercritical Process to Extract Nutraceutical Concentrates

Supercritical Process to Extract Nutraceutical Concentrates A process for the extraction of nutraceutical concentrates enriched with bio-active ingredients through the use of supercritical fluid carbon dioxide. View details

Link

Supercritical Carbon dioxide-based Food Sterilisation

Supercritical Carbon dioxide-based Food Sterilisation A novel process for sterilising and enhancing the shelf-life of biological materials. View details

Link

Supercritical Process for Extraction of Fragrances

Supercritical Process for Extraction of Fragrances A process for cyclic supercritical fluid (SCF) CO2 extraction of fragrances from jasmine flowers. The single step process results in higher and more efficient recovery of fragrances than recoveries from conventional processes. View details

Link

Impeller Designs for Enhanced Material Mixing

Impeller Designs for Enhanced Material Mixing Specially designed impellers for use on the central shaft of the rotating drums used in industrial mixers. View details

Link

Biosensors for Monitoring Diabetes

Biosensors for Monitoring Diabetes Glucose sensors can be implanted transdermally (beneath the skin) for monitoring diabetes and related ailments. Implantable glucose sensors often elicit inflammatory responses in the body. To reduce these responses and maintain the functionality and longevity of the sensors, the glucose sensors are coupled with an anti-inflammatory agent. View details

Link

Mixed Refrigerant Cryocoolers

Mixed Refrigerant Cryocoolers Mixed Refrigerant Joule–Thomson (J-T) cryocoolers use mixed refrigerants (5-8 components) instead of pure substances such as nitrogen and argon as working fluids in order to improve performance. View details

Link

Pulse Tube Cryocoolers

Pulse Tube Cryocoolers A vibration and maintenance free Pulse Tube Cryocooler (PTC) has been developed, which can attain and maintain temperatures below 80 Kelvin. It is available in various configurations such as In-line, U-type and Co-axial. View details

Link

Improved Process to Make Fluoride Glass

Improved Process to Make Fluoride Glass Fluoride glasses are known for Infra Red (IR) transmitting applications and have improved chemical durability as against oxide glasses, also used for transmitting applications. View details

Link

Low Cost Deposition Method for Faster ICs

Low Cost Deposition Method for Faster ICs A simple, cost effective and easy to perform method to make the low-Κ dielectric material layer coated on a silicon substrate robust against the degradation during ashing process and moisture uptake. The speed with which integrated circuits (ICs) work depend on the RC time constant (i.e., the time taken to process information). It is essential to use a material that has a low dielectric constant so that the RC time constant is also low. Hydrogen silsesquioxane (HSQ), with a dielectric constant of approximately 2.95, has been developed as a material to be deposited during the IC fabrication. However, HSQ is a porous material and is thus susceptible to the presence of moisture. View details

Link

New Composite Layer to Help Make ICs Faster

New Composite Layer to Help Make ICs Faster A novel method of depositing an amorphous SiC:H barrier layer on a low dielectric material layer which speeds up the process of manufacturing Integrated Circuits (IC). The barrier layer is deposited by exposing the low dielectric material layer to hot wire chemical vapour deposition (HWCVD) using a mixture of silane and acetylene gases at temperatures of 200 to 300°C and at pressures of 100–200 mTorr. View details

Link

Track It

Track It A method that uses markers to track planar movement of multiple objects from a sequence of digital images. Tracking of objects from a sequence of images requires automatic identification of the objects of interest as well as accurate location and orientation information on the tracked objects in each image frame. The approach used to meet these requirements includes item recognition based on the radiation characteristics and reflective properties of the object or of a tag or marker that is attached to the object. Use of such markers, when permissible, assists in tracking by facilitating the automatic recognition of the objects. View details

Link

3D Microprinter

3D Microprinter Microsteriolithography (MSL) - a technology to achieve 3D microdevices by using layer-by-layer photopolymerisation of liquid resin. View details

Link

Uncooled Coloured Imaging System

Uncooled Coloured Imaging System An opto-thermo-mechanical integrated, uncooled imaging system that captures thermal images and allows for their direct coloured display. View details

Link

Vibration Protective Pendulum Isolators

Vibration Protective Pendulum Isolators Pendulum isolators which help in reducing severe vibrations due to earthquakes, heavy wind or machinery in buildings, bridges, industrial structures and other subsystems View details

Link

An Efficient Method for Cleaning Clothes

An environment and user-friendly, efficient method for cleaning cotton and synthetic clothes. View details

Link

Novel Method for Creating a Fluid Separation Material

Novel Method for Creating a Fluid Separation Material A novel method for making fluid separation material using a membrane with a nanopore structure. The material consists of a conducting porous polymer film that has a porosity of 0.01 to 50% in nanopore sizes of 0.05 to 17 nanometres, showing wide permeability and selectivity ranges. View details

Link

Pages

Research the Opportunity

Business Intelligence

You are excited about your business idea and you are already envisioning all the possibilities. Now is the time to make sure that your Business Idea is indeed viable and you not getting carried away by the sheer excitement.

Detailed Market Research is an absolute necessity at this stage. Market Research can help you determine if there is enough demand for your product and service.

 

It is an excellent idea to scan the internet and gather as much information as possible about the following:

  • Industry - Its size, its growth and its future. What are the prevailing trends?
  • Competition: Study all aspects of Competition - Direct as well as Indirect.
  • Customers, Influencers & Consumers: Try to understand what the Purchasers, Influencers and the end users of Product / Services are saying. Social media can be very useful in this regard. Understand what are the unmet needs and what needs improvement. It is very  important to meet and really understand the current purchasers / users of your competitors products. Are they unhappy about something? What needs improvement?

 

Conducting Market Research


Primary market research - Primary Market Research is first hand information from customers and potential customers. Primary market research is more expensive and time consuming to perform than secondary market research, however the information it offers can be much more specific and valuable.

  • Market Research Surveys- Surveys by phone, mail or in person are used to assess the potential success of a product or service. Surveys are a highly used method of small business market research.
  • Market Research Focus Groups- A Focus Group is a group of people (usually 6-10) who gather around to talk about a particular product, service, problems they have and more. A focus group can help you gain valuable insight about potential customers, by discovering their likes, dislikes and problems.
  • Market Research Individual Interviews- Instead of conducting a group interview (focus group) you can also conduct individual interviews. Conducting Market Research Interviews provides you with the opportunity to meet individually with your target market. Instead of conducting a group interview such as a focus group you can also conduct individual interviews. In an individual interview the researcher asks the targeted buyer questions similar to those in a focus group. The researcher asks about the interviewees’ likes, dislikes, problems and opinions of a product or service. You can choose to conduct the individual interview in person or over the phone. One disadvantage of individual interviews over focus groups is that the interviewees don’t get to interact with one another. For example in a focus group, one person may say something that causes a reaction in another and suddenly bursts of ideas start sprouting. In individual interviews there isn’t that same kind of interaction. However an advantage of individual interviews is that you get to talk to your target buyer one-on-one and get more information about that individual and their specific thoughts and opinions.

 

Secondary market research Sources -

  • Reports/ Studies (University studies)
  • Local Newspapers and business magazines -many local newspapers and business related magazines offer demographic data.
  • Library- In the reference section of the library you will find financial data and statistics. Ask your local librarian for help, they will be happy to assist you in finding the information you need. In the library among the references you will find studies by the U.S. Department of Commerce and the U.S. Census Bureau.
  • Government Agencies- Your local Bureau of Census publishes the “County and City Data Book” with offers local demographic information. Many state and local offices provide demographic information of the local area.
  • Market Research Statistics- There are many websites online that offer statistics for small business market research. Statistics such as Demographics can help you get a sense of population characteristics of your location.
  • Trade associations- there is a trade association for just about any industry. There is usually a fee to join but it is an opportunity to network with other professionals in the industry. You will also have access to market research they conducted.

 

Market Research while Running your Business


Don’t think that once you start your small business, you don’t have to conduct any more market research. Your small business should always be evolving and adapting to the changing markets. Here are some market research techniques to use while running your small business.

  • Keep a sales report- Find out what products are hot and what products are not. Certain products may sell more in certain months. Inventory tracking software can help you notice trends.
  • Competition- Pay attention to your competition. See what changes they are making. Have they made any changes in recent months or years? Have their products changed? Did they start offering new services? Your competitors may be making changes as a result of the changing market needs.
  • Customer Survey- Perform customer surveys to discover what are the customer’s likes and dislikes and how you can improve your business. Be sure not to force customers to fill out a survey. Be sure they know it is optional. You can have a customer suggestion box where customers write their suggestions and put it in the box. You can also find out where your customers are coming from by asking for their zip code when they are about to pay. You may discover that a large percentage of your customers come from a certain area.


Market Research can be an expensive and time consuming task depending on the methods of market research you choose however the information you obtain from it can be very valuable to your business. You can decide to hire a market research firm or do your own market research.

Access Technologies For Commercialisation

Technology Image (click to enlarge) Description See details Contact Details

Biomass Gasifier technology

Biomass Gasifier Image Biomass gasification is a process of converting solid biomass fuel into a gaseous combustible gas (called producer gas) through a sequence of thermo-chemical reactions. The gas is a low-heating value fuel, with a calorific value between 1000- 1200 kcal/Nm3 (kilo calorie per normal cubic metre). Almost 2.5-3.0 Nm3 of gas can be obtained through gasification of about 1 kg of air-dried biomass. Since the 1980’s the research in biomass gasification has significantly increased in developing countries, as they aim to achieve energy security View details

Link

Novel Electric-Motor-Powered Drive System

Novel Electric-Motor-Powered Drive System An electric-motor-powered, in-wheel drive system using an inverted switched reluctance motor drive to provide improved efficiency, greater compactness and maintenance free vehicle operation system. View details

Link

Synthesising Poly Lactic Acid Clay Nanocomposites

Synthesising Poly Lactic Acid Clay Nanocomposites A process for preparing polylactic acid-clay nanocomposites by monomer intercalation, followed by polymerisation of lactide in clay. In case of lactic acid monomer, the process yields effective dispersion of polylactic acid prepolymer and clay, via intercalation and exfoliation of the clay with an oligomer and metal based catalyst followed by melt polymerization of lactic acid oligomer in clay. View details

Link

High Molecular Weight Crystalline Polylactic Acids

High Molecular Weight Crystalline Polylactic Acids A method to make high crystalline lactic acid polymers of high molecular weight. View details

Link

Supercritical Process to Extract Nutraceutical Concentrates

Supercritical Process to Extract Nutraceutical Concentrates A process for the extraction of nutraceutical concentrates enriched with bio-active ingredients through the use of supercritical fluid carbon dioxide. View details

Link

Supercritical Carbon dioxide-based Food Sterilisation

Supercritical Carbon dioxide-based Food Sterilisation A novel process for sterilising and enhancing the shelf-life of biological materials. View details

Link

Supercritical Process for Extraction of Fragrances

Supercritical Process for Extraction of Fragrances A process for cyclic supercritical fluid (SCF) CO2 extraction of fragrances from jasmine flowers. The single step process results in higher and more efficient recovery of fragrances than recoveries from conventional processes. View details

Link

Impeller Designs for Enhanced Material Mixing

Impeller Designs for Enhanced Material Mixing Specially designed impellers for use on the central shaft of the rotating drums used in industrial mixers. View details

Link

Biosensors for Monitoring Diabetes

Biosensors for Monitoring Diabetes Glucose sensors can be implanted transdermally (beneath the skin) for monitoring diabetes and related ailments. Implantable glucose sensors often elicit inflammatory responses in the body. To reduce these responses and maintain the functionality and longevity of the sensors, the glucose sensors are coupled with an anti-inflammatory agent. View details

Link

Mixed Refrigerant Cryocoolers

Mixed Refrigerant Cryocoolers Mixed Refrigerant Joule–Thomson (J-T) cryocoolers use mixed refrigerants (5-8 components) instead of pure substances such as nitrogen and argon as working fluids in order to improve performance. View details

Link

Pulse Tube Cryocoolers

Pulse Tube Cryocoolers A vibration and maintenance free Pulse Tube Cryocooler (PTC) has been developed, which can attain and maintain temperatures below 80 Kelvin. It is available in various configurations such as In-line, U-type and Co-axial. View details

Link

Improved Process to Make Fluoride Glass

Improved Process to Make Fluoride Glass Fluoride glasses are known for Infra Red (IR) transmitting applications and have improved chemical durability as against oxide glasses, also used for transmitting applications. View details

Link

Low Cost Deposition Method for Faster ICs

Low Cost Deposition Method for Faster ICs A simple, cost effective and easy to perform method to make the low-Κ dielectric material layer coated on a silicon substrate robust against the degradation during ashing process and moisture uptake. The speed with which integrated circuits (ICs) work depend on the RC time constant (i.e., the time taken to process information). It is essential to use a material that has a low dielectric constant so that the RC time constant is also low. Hydrogen silsesquioxane (HSQ), with a dielectric constant of approximately 2.95, has been developed as a material to be deposited during the IC fabrication. However, HSQ is a porous material and is thus susceptible to the presence of moisture. View details

Link

New Composite Layer to Help Make ICs Faster

New Composite Layer to Help Make ICs Faster A novel method of depositing an amorphous SiC:H barrier layer on a low dielectric material layer which speeds up the process of manufacturing Integrated Circuits (IC). The barrier layer is deposited by exposing the low dielectric material layer to hot wire chemical vapour deposition (HWCVD) using a mixture of silane and acetylene gases at temperatures of 200 to 300°C and at pressures of 100–200 mTorr. View details

Link

Track It

Track It A method that uses markers to track planar movement of multiple objects from a sequence of digital images. Tracking of objects from a sequence of images requires automatic identification of the objects of interest as well as accurate location and orientation information on the tracked objects in each image frame. The approach used to meet these requirements includes item recognition based on the radiation characteristics and reflective properties of the object or of a tag or marker that is attached to the object. Use of such markers, when permissible, assists in tracking by facilitating the automatic recognition of the objects. View details

Link

3D Microprinter

3D Microprinter Microsteriolithography (MSL) - a technology to achieve 3D microdevices by using layer-by-layer photopolymerisation of liquid resin. View details

Link

Uncooled Coloured Imaging System

Uncooled Coloured Imaging System An opto-thermo-mechanical integrated, uncooled imaging system that captures thermal images and allows for their direct coloured display. View details

Link

Vibration Protective Pendulum Isolators

Vibration Protective Pendulum Isolators Pendulum isolators which help in reducing severe vibrations due to earthquakes, heavy wind or machinery in buildings, bridges, industrial structures and other subsystems View details

Link

An Efficient Method for Cleaning Clothes

An environment and user-friendly, efficient method for cleaning cotton and synthetic clothes. View details

Link

Novel Method for Creating a Fluid Separation Material

Novel Method for Creating a Fluid Separation Material A novel method for making fluid separation material using a membrane with a nanopore structure. The material consists of a conducting porous polymer film that has a porosity of 0.01 to 50% in nanopore sizes of 0.05 to 17 nanometres, showing wide permeability and selectivity ranges. View details

Link

Pages

Choosing the Right Business

Choosing the Right Business

Level of Competition

Choosing a market with a large number of competitors can be detrimental to your business. A large number of competitors in the market may mean that margins are already low and this may not be sustainable for you as a start-up business. Price competition in most cases can only be pursued by firms which have high economies of scale. You may be better off serving a small target market or a niche market and then expanding.

Profitability

Only profitable businesses can be sustained. If you have a passion for a certain activity and come up with an idea relating to that activity, it is important to judge the business potential of that idea. Questions such as: Is there sufficient demand for your product or service; will you earn a recurring income; and whether economies of scale exist; will need to be considered to determine the viability of turning your idea into a sustainable business.

Does it fit in With Your Goals and Resources?

What kind of business you decide to start will depend on two things: your goals and your resources. What you want to achieve with your business is a decisive factor. If you want financial freedom, it is advisable that you pick a business that has a high possibility of profitability (after conducting a thorough analysis). But some people want to start a business where they want to help people, for that you may need an idea that has the potential to make an impact on people’s lives.
The financial resources you have at your disposal are of importance as well. Some businesses require a large amount of capital to start (e.g. manufacturing) and your ability to enter these markets will be determined by the capital at your disposal. Starting Internet based businesses can sometimes provide you with lower cost entry strategy.

Your Skills, Strengths and Qualifications

Picking the right business will be strongly influenced by the above three factors. Look at the skills you possess. It is important to choose a business in which your skills apply. For example, both the founders of Google were Ph.D. candidates in computer science. Similarly, experience counts. The founder of Wal-Mart worked at retail stores before he started his own retail store. The point here is that if you have the relevant skills and qualifications for a particular business it will show as you will be well suited to the central functions of the business. You will be able to understand the functions much better and therefore make better managerial decisions.

Look at Your Passions – What Do You Enjoy Doing?

This again is something important to look at. If you are passionate about something, or enjoy doing something, it is likely  that your business will succeed. But this is not the only factor for success. It is however important to explore your passions and come to a decision. One way to evaluate this would be to see whether or not you would be willing to spend 40+ hours every week on this project. Try to identify business opportunities that are in line with your passions and hobbies. There are many examples of this in current successful start-ups. Steve Jobs and Steve Wozniak were both extremely passionate about computers. They set up a company in a garage. The result was Apple Inc., whilst many companies don’t grow to be one of the most valuable in the world, what can be taken away from this example is that it can be extremely satisfying and fulfilling to work on something you enjoy doing.