Why, when and how to start an online company

Starting a company is generally very close to heart. A prerequisite is passion.

Why -
You really want to start
Not easy
You are genuinely solving a problem
You have some advantage over others
Example:
Assets
Knowledge about product, suppliers, contacts
You have a new innovative idea
You can do it better than others

Bad reasons to start:
You don't want to work for others
You want to be your own boss
Others are successful so

When -
If you are young it's best
If you have experience, that has its own perks
Look at all kinds of success stories
If you are in stable job do parallel background work
Save up with an estimate of runway
Keep buffer
If you believe in someone's vision, join them

Dont take loan

How -
After business idea, make a business plan
It's summary of action tasks to achieve goal
Include market and industry analysis, competitors, product and services details, marketing plan, operating plan, financial planning and projections, team and assets needed etc
Gives clarity
Make a big excel with tasks. That's what I did.
Lot of content is to be generated for website and app. Such as products details, images, policies, creatives, journey

Decide the name and book domain in India or the country where you plan to operate.
Make logo
Decide tech platform
Tech agency customisation and decide required features
Do shoots
Make products and variants
Manufacture and procure
Pricing MRP and Sale price
Add apps in CMS for operations efficiency
SEO
Marketing campaigns setup and keyword research
Merchant center
Social media channels activation and listings
Partnerships example sales channels affiliates
Order dispatch preparation
Build team based on resources
Outsource other activities
Delivery partnerships
Customer service
Email, SMS, notifications to engage with customers and subscribers
Redo
Expand

Hope you found the episode helpful.
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