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10 Most Successful Business Ideas

Business Ideas

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December 2, 2013

I have one friend who started a new business a few months back, He failed in business and made losses. This is disappointing. Today we see many business turns into disasters may be due to lack of knowledge, planning, or wrong idea selection. Many factors make business successful but one of them is the right business idea.

Before starting any business we have fear in our mind that Can I make money in this business? Will my business see success? We are herewith answer to your question check out the Top 10 most successful business ideas. I am sure that if you execute these business ideas correctly you will see massive success.

10 Most Successful Business Ideas

(1) Restaurant

The restaurant business is one of the most successful business ideas. Healthy & tasty food is needed for everyone. If you are passionate about food and ready to serve healthy and yummy food you can start this business.

Theme-based restaurants e.g. Jungle-based theme, Kathiyawadi theme, or natural theme are more popular today if you have additional capital you can think of making a theme-based restaurant.

Why Restaurant business is successful business idea?

Due to busy lifestyles, people don’t find time to cook food at home & we even see many people prefer eating in restaurants frequently. This is the reason why the restaurant business is the most successful business idea today.

(2) Recruitment Firm

Starting a recruitment firm is a really good business idea. A recruitment firm does not require a huge investment. You just need a small office space and a few contacts to start with.

Why Recruitment Firm business is successful business idea?

The unemployment ratio is increasing and recruitment firms are in huge demand. Every student & professional requires a good job and every company requires good productive candidates. To get a good job and a good candidate they are ready to take paid/commission base services from a recruitment firm.

(3) Custom make Gift Store

A gift store of customized gifts is another good business idea to start with. This idea is low investment business idea as you don’t need even office space you can start this business from your home.

Why Custom Gift store business is successful business idea?

We have a trend to give gifts on every occasion & festival. Gone are the days when people used to give cards or traditional gifts, today’s trend is to give customized gifts as it attracts more attention thus we feel custom gift store can be a good business idea.

(4) Wedding Planning & Catering

If you are creative and able to manage multiple tasks at the same time you can plan to enter in wedding planning & catering business. This is quite a challenging business as it requires skill and management ability.

Why Wedding Planning & Catering business is successful business idea?

Marriage is once in a lifetime opportunity and people are ready to spend a lot of money to make this event successful and memorable. With your skill and ability, you can touch the sky in this business.

(5) Education / Coaching class

Education or coaching class is indeed a good business idea. You need a small space and skills to start this business.

Why Education/Coaching class business is successful business idea?

Today level of education has become high and every parent wants his/her child to stand first. They prefer to place children into good coaching classes thus we see multiple successful coaching classes today.

(6) Namkeens and Nasta Shop

You may find this business idea slightly odd but believe me this is a really good business idea. You just need a small shop and a good nasta maker team that’s it you can earn huge money.

Why Namkeen shop business is successful business idea?

Today we find many working woman & they find very little time at home. Instead of making nasta at home, they prefer to bring readymade nasta. If you are very good as a namkeen/nasta maker you can easily make a good amount of profit.

(7) Tour / Travel Planner

A tour or travel planner is another great business idea. This business requires good geographical knowledge and a lot of contacts. To ensure success you can even tie up with online websites like yatra.com etc.

Why Tour / Travel Planner business is successful business idea?

According to a recent survey, Indian goes on a maximum business trip every year. Not only that during every vacation (Diwali, Summer, Christmas, etc) people prefer to enjoy a holiday by visiting distinct places and hill stations. Thus we see huge potential in the tour & travel planner business.

(8) Smartphone sale and repair

Smartphone sales and repair is a good business idea. To start smartphone sale and repair business you need skill and capital.

Why Smartphone sale and repair business is successful business idea?

The mobile phone business is growing exponentially. Every common man today prefers a smartphone. This increasing smartphone usage offers good business opportunities for the sale and repair of smartphones.

Also Read – 120 Best Business Ideas that you can start in 2020

(9) Event Management

Event Management companies are the perfect small business idea for anyone interested in helping other companies and individuals plan and manage big events. This business requires planning and management ability.

Why Event Management business is successful business idea?

There’s a need in the industry for event management as companies constantly host events to market products & services. To make this event successful they often take services from professional event management companies.

(10) Consultancy and Contracting

Last but not least consultancy and contracting is very good and successful business idea. This business requires expertise & domain knowledge. This business requires very less business capital.

Why Consultancy and Contracting business is successful business idea?

There’s a growing need for consultants & contractors in all fields including engineering, marketing, and scientific industries. Big companies are even ready to offer very lucrative payments for good consultants and contractors.

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Real Estate – Real asset or Real liability

Real Estate

Shitanshu Kapadia

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November 26, 2013

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Real Estate – Real asset or Real liability

Many people we see talking about real estate investment and even many financial advisors tell you that invest in real estate the real asset & we believe in them and invest in real estate.

Do you think real estate is real asset?

If you are of the opinion that real estate is asset you may be wrong. Let’s understand concept of asset and liability in detail.

As per account definition asset is economic resource that is capable of being owned or controlled to produce positive cash flow.

Let’s try to make it simple anything which brings money to your pocket is asset and anything which takeout money from your pocket is liability. As you have understood difference between asset and liability let’s apply this concept to real estate with case wise approach.

Case – I – My residence is my asset

Many people still believe that residence where I live is my asset. My personal belief is your residence is not your asset. As you need your house for living you will not sale it and probably it will never put money in your pocket.

In contrast to above your residence is your liability as every month you have to pay off maintenance cost, utility cost and property tax. As it takes money out from your pocket it is liability.

Case – II – My second home purchased by Loan is my asset

Many people invest in real estate by purchasing second home on loan, if you are one of them and thinking that second home purchased by you is your asset. You are wrong.

Anything which is purchased by borrowed capital is liability. Here again it takes money out from your pocket as you need to pay EMI along with maintenance cost, utility cost and property tax.

If you are renting second home and if rent gives you income more than EMI + maintenance cost and property tax than your second home is asset.

Case – III – Second property purchased by my own money is asset

Many intelligent people will argue here that what if I purchase second property with my own money will it be asset?

My answer will be it depends for how long you own that property and what appreciation it gives. If you invest for short term and if property generates positive cash flow surpassing all cost than it is asset.

“Remember your house is not real asset but it can be real asset if it generates extraordinary positive cash flow.”

So next time if financial advisor or anybody tells you that real estate is asset remember what you read here.

60 Inspiring Quotes & Tips by Rakesh Jhunjhunwala

Stock Market

Shitanshu Kapadia

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November 18, 2013

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Rakesh Jhunjhunwala need no introduction. He is known as stock guru and warren buffet of India. Rakesh Jhunjhunwala has made history by creating wealth of $6 Billion in Indian stock market.

Rakesh Jhunjhunwala is Chartered Accountant by qualification but an investor / trader by profession. He is one of the wealthiest person in India. He made his fortune from stock market trading.

Today we will share 60 Inspiring quotes and tips of Rakesh Jhunjhunwala with you.

60 Inspiring Quotes & Tips by Rakesh Jhunjhunwala

If a girl is beautiful a suitor will come. If a stock is beautiful, a suitor will come. So I don’t search for suitors when I buy the stock.
I have learnt two things about the press and wives. When they say something – don’t react.
Markets are like women — always commanding, mysterious, unpredictable and volatile.
Anticipate trend and benefit from it. Traders should go against human nature.
Successful investors are opportunistic and optimistic ones.
Respect the market. Have an open mind. Know what to stake. Know when to take a loss. Be responsible.
Growth comes out of chaos.
Market is above individuals. The market is rational. An individual can never be smarter than the market.
Maximize profits and minimize losses.
Invest in a business not a company.
Emotional investment is a sure way to make loss in stock markets.
If in doubt, listen to your heart.
Whatever you can do or dream you can, begin it. Boldness has genius, power and magic in it.
Aspire, but never envy.
Be paranoid of success — never take it for granted. Realize success can be temporary and transient.
Build a fighting spirit — take the bad with the good.
Have some cash in hand so that you can grab the opportunity when it occurs.
Blindly following stock picks by big investors is not a wise thing to do.
Give your investments time to mature. Be Patient for the World to discover your gems.
Never get carried away by aberrations, recognize and respect them but do remember that the market corrects its aberration though it takes time.
Never in my life have I not made an investment because the stock is not popular. In fact I like to make the investment when the stock is not popular.
Vadhere vadhare levanu vadhare vadhare beichavanu”-Buy as the market is rising sell as the market is falling.
Like wives markets are always right. With wives you can argue but with markets you can’t.
You know, trading always keeps you on your feet, it keeps you alert. That’s one of the reasons why I like to trade.
First thing I’ve learnt is that markets work. They are the best mechanism to build societies.
Either don’t come to markets or don’t regret what you have done.
Teji me sab ka bol bala, mandi me sab ka muh kala.
I only make mistakes, which I can afford, where I can lift to begin again.
You do not succeed without obsession.
The market is supreme.
With time, everything changes and passes. Find the excesses.
Always know what to stake and when to take a loss.
Make the investment when the stock is not popular.
The prettiest part of the stock is that it has to be cheap – the entry point.
Do not invest in those cheap stock which will give huge returns when your children are grown up. Think about a reasonable time also.”
Hold on to a stock only if will give returns and not become emotionally attached to it.
In the market you have to be like a chameleon, always changing your colours and going with the trend. You’re lost if try to go against it.
See the world as it is, rather than what you would like it to be.
When opportunities come, they can come through technology, marketing, brands, value protections, capital, etc. You need to be able to spot those.
Invest in the small caps, which will be the large caps. The biggest challenge of investing is that you should recognize whether organization has the ability to scale.
I have far less than people think, but far more than I need.
I initially wanted to become a broker, but I didn’t have the capital to be a broker, so I started investing.
Markets make excesses but those excesses come to an end. You have to judge how long will that excess last and when will it end. We will try and make money both ways.
Trading is against human nature.
You have to lose many a battle to win the war. (Churchill)
As a rule in trading never ever average.
My decision to aggressively invest in the asset class of Indian equities at the right time was a very important determinant of my success.
Value investing is relevant in all circumstances. But thought processes and principles are dynamic and not static. Be open to change.
Prepare for losses. Losses are part and parcel of stock market investor life
If you see an opportunity, grab it today!
If you believe in the growth prospects of a company, invest in the stock and give it sufficient time.
Greedy investors will never make money in stock markets. Book profits after reaching your target price.
Never put your hard earned money without proper research. Never invest according to “Stock tips”.
Never react and change your investment decisions according to daily business news. Panic selling is a bad habit
Invest in companies which have strong management and competitive advantage.
Opportunities will come and go. Are you prepared to grab them?
Never invest at unreasonable valuations. Never run for companies which are in limelight.
Passionate investors always make money in stock markets. You will never fail in any work if you do it with passion.
Learn from mistakes. Learn to take a loss.
Always go against tide. Buy when others are selling and sell when others are buying.

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10 Personal Finance Lessons from Sachin Tendulkar’s Career

Personal Finance

Shitanshu Kapadia

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November 16, 2013

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10 Personal Finance Lessons from Sachin Tendulkar’s Career

Sachin Tendulkar “God of Cricket” retires today from Wankhede stadium Mumbai. For all lovers and fan followers of Sachin it is emotional moment as they will not see batting hero, sport icon Sachin Tendulkar on crease again.

On this occasion we thought to share some important personal finance lessons from Sachin Tendulkar’s Career. If you are young investor and fan of Sachin Tendulkar you must read and follow these lessons carefully.

10 Personal Finance Lessons from Sachin Tendulkar’s Career

Lesson -1 – Starting Early

Sachin Tendulkar started his career when he was just 16 years old.

Similar to Sachin Tendulkar we should start our investment earlier. Most people fail to start investing early. Remember staring investment at earlier stage means giving more time to your money to grow.

You should start investing as soon as you start earning.

Lesson-2 – Discipline

Sachin Tendulkar is epitome of discipline, he remains in discipline weather he hits century or gets out on duck.

Sachin Tendulkar teaches us to remain in discipline. Your stock market portfolio may get ups and down but if you follow discipline & stay invested success will touch your feet.

Lesson-3 – Dedication

World knows Sachin Tendulkar for his dedication & Hard work in cricket. Due to his dedication is known as God of Cricket.

In world of investment if you approach every investment decision with dedication it will defiantly help you. Due to your dedication you will able to identify correct investment opportunity which other will not able to do.

Lesson -4 – Always remain Hungry

Sachin Tendulkar always desire good cricket score and he always remains hungry despite of having all records on his name.

In world of personal finance you should always remain hungry to learn new concepts. Remain hungry & give food for thought in terms of finance & investing.

Lesson -5 – Making Mistake is fine

Many times we see Sachin Tendulkar making simple mistake while playing ball.

In world of investing making mistake is fine, probably you may end up by losing money by doing wrong investment but repeating same mistake again and again is not advisable.

Lesson -6 – Know what to Avoid

If you have observed Sachin Tendulkar carefully you can say that Sachin never play rash shots like other player, this is because Sachin knows what to play and what to avoid.

In world of personal finance you must know things to avoid. E.g You should avoid making investment by borrowing money. You should avoid investing in stocks which are more risky.

Lesson- 7 – Strategy

Sachin Tendulkar adopted right strategy at right time. It reminds me about famous match of 2004 where Sachin played 241 runs and remain not out, in this match he scored majority of run onside he does this thing deliberately as he was dismissed several time in series while playing storks on off side, so in this match he has adopted right strategy at right time.

Making correct strategy at correct time is very important in world of personal finance. Making investment decision based on strategy will help you in generating more returns.

Lesson -8 – Focus on Goal

Sachin Tendulkar always remains focused on Goal. His one & only goal was to win World cup for India he remain focused on same and finally after 24 years in 2011 India won world cup again.

Lesson learned is we should always remain focus on our goal & we should always take effective steps to fulfill this goal.

Lesson- 9 – Retire Young Retire Rich

Sachin Tendulkar Started his career when he was 16 years old and he retires at age of 40 years. Not only that, he is retired with lot of money in hand. Apart from cricket he has made lot of money by doing advertisements.

He has started his career at very young age and taken retirement at young age with lot of money. Lesson learned here is we should put our effort to retire young and retire rich.

Lesson – 10 – Diversification

Sachin Tendulkar has made lot of money from cricket and advertisements not only that he is wise enough to invest this money in various asset classes, He has made investments in restaurants, real estate and businesses to take complete advantage of the benefits of compound investing which undoubtedly secures his future financially and also his children.

Similar to Sachin Tendulkar we should also diversify our investment in multiple asset classes.

Hope we all become like Master Blaster Sachin Tendulkar in world of Finance 🙂

Finally if you are fan and follower of Sachin Tendulkar Do shares these lessons with others!