How to start a Business by Dhruv Rathee | Being an Entrepreneur in India

How to start a Business by Dhruv Rathee | Being an Entrepreneur in India


whenever I hear about entrepreneur, Freedom, courage and passion are the terms that come to my mind. to start your own business, you can get inspired by a lot of things. maybe you are passionate about something and it’s your dream since your childhood. maybe you don’t want to work under someone and wish to be your own boss. maybe you got inspired by our Prime Minister’s words and wish to open your fritters’ shop. Reason could be anything, I will tell you everything from the start to end that you need to know to start your own business in this video and to become an entrepreneur in India. Let’s see. So friends, the first step to start your business or start up is that you must know what exactly do you wish to do. What’s your idea? Many people thinks that I need to think of an idea which no one has ever thought of. But according to me, it’s a wrong thinking. There are two reasons for this, First is that there’s a very less chances of thinking of such idea which no one has ever thought about. because there are more than a billion people in the country hence there’s a very less chance of it. and the second and more important reason why you shouldn’t do this is that to start a business where there is no customer base established, no source of revenue and no one has done trial and error no experiment that to do this business, such kind of revenue comes or problems arises, then it’s a very new thing and a very risky work. so I would recommend you to not think of an idea which no one has ever thought of. infact you have to think that what do you yourself like to do. Here I would recommend you to focus on two things first, what’s your passion, your interest what do you like to do. How can you give value to people from your work and how can you benefit people and give value that they will give you money in return When these two things are clear, you can see which business already exists which coincides with these two things. then study what kind of such businesses are already in the market and how do they run. For example imagine if you love adventure sports like river rafting that’s the first thing then the second thing is how can you give benefits to people then here you can start an adventure sports company If this satisfies you then look what all kind of adventure sports company already exists in India. how do they function, study them, call and ask them about their business and study their business model. next step after this is to create a business plan. Suppose if you are staring your business from tomorrow, then prepare the budget report of full one year from tomorrow to the year end. that how much money will you need to start the business, how much capital and investment will be required? and in the whole year how much will be the expenses and what will be the profit that you will gain. and where will you get the required capital and money that you will need? will you borrow from your friends, ask your family or take a loan from the bank. start a business where you don’t need to take a loan from the bank or any third person. start a business where your family is able to afford the initial investment. because if you get into banks and your business fails then you will have to face a big loss and lots of problems. so think of a business where you are able to invest yourself and you have the capital. or your family of friends are ready to give you that amount. I’m suggesting this for the initial stage, once you business is established then you can think of taking loan to move it to the next step. This will the risk can be minimized. You can borrow the money from anywhere friends but the business plan that you have made for the year should be as detailed as possible. so that the investors will get convinced that this business will surely work and if we invest in this then we won’t incurr any loss. and will gain only profit from the business. Now that you have made your one year business plan then we can move on to the next step. Next step is to register your business with the Government. According to the type of your business there are different ways to register it these different ways are called as business entities I will not be able to tell you all, but I’ll tell you the main ways. The First, the oldest and the easiest way to register your business is, “sole proprietorship proprietorship is a way to register your business where the business’ owner is you whatever will be the profit or loss of the business will be your own profit or loss. so in a way you are personally liable for everything that’s happening with the business. small business owners like a shopkeeper use this way and register their shop as sole proprietor If you want to become a pakode wala then you will register your business as the proprietorship There are many benefits of proprietorship, here the government regulations are the minimum. To register your business as the proprietorship you have to go to the local authority. If live in a city then you have to go to the municipality and if you stay in a village then to the Gram Panchayat. This is available even online in few cities whereas not in some. This will cost around 1000 rs and 1-2 days to register But also keep in mind that you maybe asked for bribe as you are visiting the local authority and you know the scenario of our country. so be prepared for this. You can apply for proprietorship only if your company is a small scale and not more than 4 people are employed because it becomes very risky if it’s on a large scale. Imagine your company is of crores and you have incurred a loss in crores then it will be your own loss of crores. You would not want this hence in this case you should not do proprietorship and if you want to keep your profit and loss different from the profit and loss of the company and want to keep separate legal entities, in such case there are different ways to register so there’s another way called OPC, One person company here you are not personally liable if there’s something happening to the company. so here they can’t come to your house and ask you to leave your house, car to repay against the failure of your company The registration cost of this is around 6000rs and more or less in different companies It will take 8-10 days to get registered and since this is a one person company you will have to be the director and share holder of this company. Once you have done the registration of your company as OPC then if your company’s name is Chikara Pakodewala then it will be Chikara Pakodewala pvt ltd and OPC in the brackets Next way to register your company is pvt ltd company here a minimum of 2 share holders and 2 directors are required. maximum limit of share holders here is 200 and if you want more than that then you have to make a public limited company. so as the name is private limited it is limited in the same way as one person company is limited There’s limited liability here, so the share holders have limited liability so if there’s a loss in the company then the share holders won’t have to pay for the loss personally. It’s a very reputable and credible way to register your business. If you do so then the trust of customers and clients on your company and the trust of banks increases manifolds if your company has pvt ltd written Many starts up registers their company as pvt ltd or tries to do so as it’s easier to get loans from the banks and also the seeds funding, the investors investing in the company becomes easy. The cost of this is around 7000rs and it takes between 5-10 days to register Its obvious as this is very trusted and hence the regulations by the government also increases but towards the end of this video I will tell you an easy way to register your company. I would like to talk about another way to register your company and that is limited liability partnership. This is useful when you are a professional in a field like doctors, engineers or chartered accountant. and this is useful when you are forming a company for a limited time and you are going to dissolve it afterwards. for example you are a builder and you started a company to construct a building where you have employed the workers, engineers, architects but after the building is constructed you don’t need that company and so you dissolve that company. here this limited liability partnership comes into use. These four ways which I’ve told you are the main ways and most of you will require this, you need to know that if you want to deal with the corporate field or large companies then the preferrable way is pvt ltd only. and if you want to keep your own small business and don’t want to get into more regulations then proprietorship is the best way. so friends, you have register the company and the next step is to do the tax registration. GST registration is at number 1 here, if your company’s turnover is more than 20 lacs in a year then you have to register for GST. In some of the North states the minimum turnover is 10 lacs and GST registration is also required if you deal with import- export even within the states. or if you have a business related to e-commerce. if you have import-export business then you also need to get Import-Export Code Registration done. In some states there’s a different kind of tax called as Professional Tax Registration which you have to get done if you reside in such states. If you have more than 10 employees in your company then you have to get Employee State Insurance Registration done and if you have more than 20 employees then you have to get even Provident Fund Registration done. There’s an optional registration called MSME, this is not compulsory but you will get a lot of benefits if you do it. It will be easier for you to get bank loans, you will get some tax subsidies, exemption schemes and many such benefits so it’s good to get it done. so, there are so many types of company registration and tax registration as well. There’s a easier way to get it done together This way is ispeedbiz.com. It’s and easy way to get everything done together. Jagdish Lade has made this website. He is an entrepreneur and he specializes in this. He looks after the registrations of different companies, tax registrations and he also offers free consultancy. The special thing about this website is that according to Jagdish it charges the lowest fees in the country. it can get your registration and company related work done Now I’ve told you about tax and company registration but if your business is about website related he can help you buy the domain name any consultancy required during this work, get your bank accounts open, so all your work can be done by him for the lowest fees. The best thing is you can get your work done from any part of the country by log in to this website any where and your work will be done. and since you are watching my video Jagdish has offered a discount for us. So when you will go to this website and create your account so in the coupon code write DHRUVRATHEE to get 700rs off This is done especially for us by Jagdish as you are watching my video. If you have any questions or doubts related to your business you can ask Jagdish at this phone number. He has even helped me to make the script of this video as he is an expert in this. As the last step friends, I would like to tell you that there are few things which a business has to do every year. It is Yearly Mandatory Compliances, the first thing is Income Tax Returns, every business has to file income tax return at the end of the year. Second thing is Accounting and which you need to do and I would say that you must do it with care. It’s a balance sheet where all your profit, loss, money received, etc is done on a balance sheet. You can hire an accountant for this or if your company is small then you can do it yourself. If you are registered for GST then you have to file GST, It has monthly or quarterly compliance Next is secretarial compliance which you have to do if your company is OPC, LLP or PVTLTD Statutory Audit you will have to do if your company is OPC or LLP with the yearly turnover of 40 lacs or more than that. And ispeedbiz.com can help you with these yearly compliances as well So, friends now you are ready to become an entrepreneur and to start your own business. Towards the end of the video, I would like to give you some tips from my own personal experiences. Because somewhere even I’m an entrepreneur and you can call YouTube channel a business too. My number one tip will be that always think how can you give value to the people. to give value to the customer, client or to the people or society for example Jagdish through his website ispeedbiz.com gives value from his services, the business related work that he gets done for you is making you get the value. I give you value through my knowledge and the knowledge you gain after watching my videos. A pakodewala gives you value from his pakode, how tasty it is and how much you like eating it. So, all the businesses gives value and if you are going to focus on the value then your business will run good. and somewhere I fell value can be given only when you enjoy working. So only do such business where your interest lies and you enjoy working. and lastly there’s no point of doing a business which runs in a unsustainable way which leads to a destruction I’ll give you an example of Adani’s business here, where he was making a coal mine on the great reef and affecting the natural resources there was no benefit of it, to say he said that it will generate employment and generate more electricity but due to such destruction who will like his company? no one will respect such person, so stay away from such business. So I hope friends, you must have got a lot of knowledge and a lot to learn and a lot of value from this video If you like the value from this video then you can donate for me on patreon.com/DhruvRathee.com as that’s my business model. Share this video and we’ll meet in the next video. Thank you.

You May Also Like

About the Author: Oren Garnes

100 Comments

  1. For any kind of questions and doubts on starting your own business, what's app message Jagdish Lade on – 7030561007
    He is the expert who can help you, he helped me make the script for this video

  2. " life is too short to be working for someone else's dream " WAS THAT A REALIZATION AFTER ELECTION RESULTS ???

  3. You should "mind your own business" scumbag 😂. Btw how's your burnt area now??😂😂😂
    dhruv rathee is on mute mode
    😂 I AM A BHAKT 😂

  4. ഏത് നേരവും മോദിയുടെ പുറകെ നടക്കാതെ ഇങ്ങനെ വല്ലതും ചെയ് മോനെ.

  5. Jo gadha desh k khilaaf bolega… Laate khayega… Tum fir b gadhe ho itne videos se paise kamaye as against modi… Nt directly… Vo tumhare chutdo me dm ni h… Fir b ghnta ukhad liye except kerla…

  6. Bhai tu pehle Apne kuchh kr le dusro Ko Gyan baat rha h…
    Ek task Lia tha Rahul gandi se Modi ki image krab krne ka vo to tu kr nhi paya..
    Chamchagiri to thik se kar nhi skta …
    Business Gyan baat rha h..

  7. How to start business
    U tube pr channel khol lo
    News idher udher se dalte raho
    Swatantra patrakarita k nam pr paese mango

  8. Stop watching hindi news channels (Godi Media- Zee, Aaj Tak, AVP news, India TV) than only their TRP will go down.

  9. How to start a business?
    Take a popular figure and make hate propaganda against him.
    Ask the "Aam Aadmis" to fund you.
    You are set for another 5 years!

  10. Dhruv sir humko bolna bht psnd hai but humko smjh nhi aarha hai k hum kaise business start kre q k hum ek fast food ki shop open KRna Cha rhe hai but paise ki problem ho rhe hai to kahe job KRne k bd is business ko start KRne Sy kaisa rhega sir aur humko stndup comadying bna tha but fmly wale support nhi kiye sir to plzzzz help me hum kaise start kre kuch

  11. Very useful Dhruv . अगर ये वीडियो कुछ साल पहले आया होता तो शायद हमारा business नही डूबता।My husband has started business in 2006 and and now we've lost everything , even our house. Some because of his mismanagemet and some because of demonization . I also advise new entrepreneurs avoid loans as long as you can specially from bank

  12. If you need to watch youtube videos to start working on your dreams/passion, that's not even your dream!

  13. We have been the species of explorers and inventors. That is how we have come a long way. and this guy is suggesting: don't try in the areas where nobody has ever tried. The courage of taking risk is a prominent requirement in order to be an entrepreneur.

  14. Just start a channel against bjp and that's how u started ur business n u doing well…. 😂😂😂😂

  15. Add se Kitna milta hai YouTube channel se, kuch kaam karo bhai, din bhar YouTube & Facebook.
    HOPE u had not given YOUR great idea to AAP , FREE RIDE FOR WOMEN IN DELHI METRO.

  16. Looking for Talented and Ambitious youngsters ( preferably from health care background) for an established digitalised startup with US support and NITI ayog approval, more more details wtsapp: +919496348676

  17. Sir kaise kisi exam Ko crack Kiya ja sakta h????
    Kya routine hona chahiye
    Kya rules hone chahiye
    Kya tarika hona chahiye study karne ka
    Please suggest by a video
    Please please please
    Thanks

  18. Rathi bhai ji aap mujhe ye btaiye agar Mene Amazon ke liye GST registration karva Liya or fir bhi mera turnover under 8 lakh h to bhi kya mujhe return bharna padega?

  19. Ap karte ho kya pakode ka business. Har bar kun rajniti ghsateho apne videos me. Bina rajniti ka kuch bolnahi sakte ho kya.

  20. Namaste sir 🙏 ek particular topic upar kaise research kare sir mujhe information callect karna acha lagta hai or ya Naya Naya information Jana acha lagta hai to please please please please hum sub ke liye ek video bana do how to research a particular topic

  21. Rivet rafting is not something someone thinks of, I know it is example but still you should be more realistic while giving example.

  22. ध्रुव राठी अगर केरल में व्यापार शुरू करने पर बात करे तो मान जाऊंगा 🤣 केरल वाले विदेशो में जाकर काम करते है पर अपने ही राज्य में उद्योग का विरोध करते है , यही है झूठा साम्यवाद

  23. Im a CA student . just to correct you – Arey bhai wo LLP, nahi, wo joint venture hota hai bhai, pagle.
    LLP is a hybrid form of a partnrship firm and a limited company.
    I can show you 1000s of LLP CA firms running from past 50+ years.
    STILL IM YOUR FAN btw

  24. Hi Dhuv, this is good explanations. I would like to know about how this online job system works? There are various sites who claim to offer such kind of home based computer work but among them who are genuane and who are not its very difficult to find out. Explanation in this regard will help more people to know the reality. How far such online work will be helpful?

  25. अरे भड़वे आज एक छोटे से स्टॉल से ही kfc बना है

  26. भड़वे तू वैल्यू नहीं दे रहा चुतिया बना रहा हैं लोगो को।

  27. Mujhe aapke advise bahut pasand aaye. But aapke anusar risk 0% hona chahiye
    Ese business nahi hota sir
    Aapko thoda risk Lena hi hoga

  28. Hiii dhruv… Watched all your videos. They are awesome. Can you please make a video on hiv aids scam . Many videos are there on youtube which are saying that hiv aids can't spread through blood, saliva or sexual intercourse .
    Please make a video on this so we can be clear about it.

  29. Woah, literally before opening the video, while looking at the thumbnail, I thought this dude was American…

  30. Sir I have a request!
    about one month ago chandrachur ghosh and Anuj dhar published a book on netaji's existence after independence..
    They claimed a gumnami baba in up was netaji subhas himself..
    They provide lots of papers, evidence on that book..
    Please read the book and make a review video what you think about the book!

  31. Dhruv Mene ravish Kumar sir NDTV ke channel me dekha tha tabhi apka channel subscribe Kiya ki ap good work kar rahe h..

  32. Its very hard to start and run business in india…. Nobody wants healthy competition here…. And you need strong political support to take your business to the next level

Leave a Reply

Your email address will not be published. Required fields are marked *