How to Start Business in Pakistan?
Ideas for The Best Business to start in 2019
In 2008 when American market was hit by the recession, a lot of people lose their jobs and so more and more people interested to make their own Businesses, right now American Business culture is at the peak. More and more people want to start their own business instead of doing 9 to 5 jobs. Pakistan facing a similar situation, Engineers find it very difficult to get jobs and so most of the people go for low paying Grade 4 Jobs that doesn’t suit their Educational Qualifications. So, the problem here is “How to start your own startup in Pakistan?”. To start your own business you need to be confident about your business idea especially here in Pakistan.
Gov. in the KP tries a lot to promote the Entrepreneurial culture in Pakistan and so we see a lot of potential Business ideas coming to market, one of the Business reaches to $1 Million Valuation, which is indeed great news.
Here in this article, I will explain potential ways to get ideas and to better execute your Business.
How to get Business ideas in Pakistan?
I have two ways to show you to get the best of the business idea for your new venture in Pakistan.
The first way to get a good business idea is “To write 10 Ideas per day” by writing ten business ideas you are actually training your Brains muscle, muscles that generate ideas, to work in a better way. Write ten business ideas every day, just start writing your ideas in a blank paper, at the end of the month you will have a list of three hundred ideas.
You got a list of the ideas, now the next thing you have to do is to find out which idea suits you, you actually like it.
The second way to get a good business idea in Pakistan is to visit an American site named “crunch base” where they list companies who raised some funds.
You may think that this is copying or stealing someone else ideas?. The argument for that is “Google and Facebook” is also idea stealers. The best example for it is that Before Google there was searching Engines like Yahoo and before Facebook. There still exist a site with the name “Myspace”.
It is like finding an idea which is successful in one country and implementing it in your own Country. These ideas are already tested in a highly competitive market, which is the best thing.
How to Implement Your Business Idea In Pakistan?
So, now you have an idea to start your Business. Cool. You have to face much harder situation right now and the reason “Business is not an easy Game” And it goes beyond limit when you have to run every department of business by yourself.
Make your Marketing Plan & Advertise By Targeting The Right Audience
You have to understand that a business without a proper marketing plan is nothing. If you make a word class product but you have no marketing plan then it is going to be in your inventory for the rest of the days, no one will buy it from you.
“You see Apple, Google and Tesla they don’t advertise on the Internet or Buying Expensive Billboards in the city and the reason is “Branding” every company has a marketing plan if you don’t understand the company marketing plan then it doesn’t mean that the company is not marketing.”
One thing that you need to understand is “A Great Entrepreneur is a great Business Executor” it not about a Million Dollar Business ideas it is about better Executing your Idea. I See people making million dollar businesses out of trash ideas, it is like finding a way to make people buy your product.
You may probably hear of “Minimal Viable product” if not then An Minimal viable product (MVP) is a type of product you create with Minimal resource and then present it in front of your targeted Customers. You may probably hear of a company name ‘DropBox”. DropBox is one of the hottest company in Silicon Valley because its idea is based on ‘Cloud Computing” (Right now Cloud computing is the hottest topic in the business world)
“The owner of the Dropbox once make a video of how its product works and put it on YouTube, the video gets half a million views and brings hundreds of customers. That Video is now we called an MVP. Maybe that video hardly cost $100 but it brings more than $50,000 in a very short time.”
If you have a product idea and you think that the product may be successful then the first thing you have to do is to make a survey in Google Form and advertise it by targeting the right Audience using Facebook, find out how they are feeling about your Product. Innovate. “if you are not innovating then you’re going to die” said by Steve Jobs
When everything is set up, find out an Apartment near to a Place where you think your customer can find you or you may feel ease providing your products or services. Hurry, you have a Running Business with a Physical Presence.
The Growth Mindset in Business:
I met with a lot of Pakistani Entrepreneurs and Businessman and the one thing that really hurts me is their mindset. Like, if you are Making $3,000 per as a net profit then you may think that my life is going well and I am making enough money and I am happy with the comfort zone I am. But, you know what “There is a world full of people who won’t need your product or services” and they are using those expensive products just because you are providing your product or service in one confined location in the world.
What interests me of Business is “It is Like An Experiment” every day you come up with unique ideas to solve the problems of people, every day is a challenging day, you feel happy not because the money you make but the problems you are solving.