Thinking of starting a new startup or a Business in Pakistan ? Here are the 30 advices from the people in Pakistani business industry.
1. Creating a “Complete Strategy”
Ali Latafat – Co-Founder Globark Digital & Studios
The most important thing that people miss before starting a business is coming up with a complete strategy as of how to go take your business further in the long run. This basically means how will you survive after a few years or how you will counter your competition. A pre-planned full-fledged strategy is very important. Another aspect that I would like to share is, the owner of the company should focus on the brand name as well. Establishing a good image in the mind of the consumers is deemed necessary.
2. Research your niche clearly
Omar R. Quraishi – Media influencer/Journalist/Editor
Do your homework and be persistent – you will face obstacles but nothing good comes without hard work.
3. Focus on your ROI (Return On Investment)
Ebad Khan – Founder at KaamLab
As an owner of a Digital Agency in Karachi, Pakistan, I would suggest that most of the startups do not look for ROI aspect, they’re always in rush to initiate a business and then start earning from it, it doesn’t work like that dude! Whenever you’re starting a business make sure your ROI at-least reaches your equilibrium point, if you invest 5 lacs, then you must know how will you earn your 5 lacs back from the business you’re starting.
4. Sell Your Idea
Abid Beli – Pioneer of E-commerce Business in Pakistan. Serial Entrepreneur since 25yrs
First sell your idea to yourself if you can buy this idea then discuss with a person who has a selfless care for you, If he/ she can buy this idea then Instead of going for paperwork to business registration process, first initiate it as basic or beta version and with this initiative you must seed a plant at your home too.
Now start your working on your business idea with your 100% effort as well as take care of that plant and observe it’s growing, Whenever you feel demotivate that business is growing too slow then see the growth of that plant, it will give you strength and motivation. Don’t be dis-heart if people are discouraging you, Don’t quit on any stage if you believe in your idea, Work with Passions, Patience, and Persistence. Avoid negativity and observe positivism in your idea or business. Don’t be shy to take risks, Don’t be afraid of failure, Just think that you born naked and you will bury naked then why worry.
Must donate 10% from your profit every month, With all these things no one can down you or your business