Business Ideas in India

The best way for a businessman to think of a productive business idea is to ensure that their creative processes are working fine through activities such as sports, reading, and painting. They can also get out of their comfort zones and spend some more time in cultivating their hobbies. When the mind is free and working properly, a businessman is in the best position to utilize his knowledge. They should not try forcefully to come up with a good business idea as such efforts normally deliver negative results.

Doing Business in India

While thinking of a business ideas, the entrepreneur should be aware of his limits as that aids in channeling the thought process in a proper direction. For example, if somebody is keen on setting up a computer business, but his proficiency is limited to word processing and surfing, then it will be hard for him to come up with a good business idea for a software product. Imaginative business ideas come only with experience and entrepreneurs need to realize it.

While thinking of a business ideas, the entrepreneur should be aware of his limits as that aids in channeling the thought process in a proper direction. For example, if somebody is keen on setting up a computer business, but his proficiency is limited to word processing and surfing, then it will be hard for him to come up with a good business idea for a software product. Imaginative business ideas come only with experience and entrepreneurs need to realize it.

It is ideal to always have something that can be used for recording great business ideas that might occur when a businessman expects it the least. This helps the entrepreneur have a documentation of good ideas that can be developed later on.

How to convert an idea into a working model?

The basic step in changing an idea to a successful business model is doing proper research about its feasibility. To start with the businessman should perform a patent search with the concerned government authority before getting it patented through an agent or a lawyer.

They should also do a prior art search that does not involve the patent. If business idea bears resemblance to a previously created design or artwork it cannot be replicated even if a patent has been filed already. The entrepreneur should also carry out a proper market research among his intended customer segment and determine if the idea can actually sell.

If the product has a viable market the owner needs to come up with the minimum possible product manufacture and distribution price that will allow it to be sold at a good value in the retail establishments. This can be done with comparison of various products available in that particular product segment.

It is important to have a prototype of a product before the owner applies for its patent. This is because a prototype always provides the creator with ample scope for developing the end product. If the entrepreneur finalizes the patent before the product is properly completed, it is possible that the changes cannot be included in the patent agreement and rights may be lost to someone who comes up with an improved version of the product.

Greatest companies of India – how were they conceived?

The biggest financial services and banking organization of India, the State Bank of India, started off when three Presidency banks – Bank of Bengal, Bank of Madras, and Bank of Bombay – were joined on January 27, 1921 and became the Imperial Bank of India. At present, the bank has more than 13 thousand outlets and owns approximately 370 billion US dollars. It also has 150 branches outside India.

After it was founded on August 14, 1956 the ONGC has played a major role in making the upstream sector of India an attractive investment proposition. The organization performs a significant role in India as well as several international territories.

Top Indian Companies

Challenges for businessmen in India

Following are the major challenges facing a businessm an in India:

Top Business Ideas

The leading business ideas in India for the manufacturing sector are:

The top Indian companies in the manufacturing sector can be enumerated as below:

Service Sector Business Ideas in India

Following are being considered the best business ideas for the service sector of India:

• Business performance improvement consulting
• DME billing services
• Human resource consulting for small businesses
• Data mining consulting
• Marketing billboard spaces
• SEO
• Guest service advisory
• Customer service
• Bartering for services

Telecom Sector Business Ideas in India

The most profitable business ideas for the telecom sector can be enumerated as below:

The leading names in this sector can be mentioned thus:

Consultancy Sector Business Ideas in India

The following sectors are right now being regarded as the most important names in the domain of consultancy:

The following organizations are the top names in India’s consultancy sector:

Education Business Ideas in India

The following business ideas can be regarded as the most profitable when it comes to the educational sector of India:

Following are the leading names in the education sector of India:

Online Business Ideas in India

The best business opportunities available in the online industry of India can be enumerated as below:

The leading Indian companies that are primarily web-based can be mentioned as below:

Retail Business Ideas in India

Providing online information on the leading retail franchises in India can be regarded as a great business opportunity, apart from procuring retail franchises. Following are some websites that are doing good business in this regard:

The leading names in the retail sector of India can be enumerated as below:

Last update on: January 16th, 2019