Get the best 1 Lakh Rupees investment business ideas in Pakistan. Learn how to start a business with a small budget.
1 Lakh Rupees Investment Business Ideas in Pakistan: Everybody wants to earn a decent living; the only problem is that very few people are able to do so. However, if you’re willing to put in the hard work, moneymaking opportunities exist out there, and all you have to do is figure out how to best take advantage of them.
1 Lakh Rupees Investment Business Ideas in Pakistan
For example, you can start an investment business, which allows you to invest your money in anything from stocks and bonds to real estate, precious metals, and oil futures.
Step 1. Create A Marketing Strategy
You may have a fantastic product, but if you don’t know how to sell it or what your potential customers want, you’re going to find yourself with a warehouse full of goods and no buyers. A lot of startup businesses—especially those run by first-time entrepreneurs—fail because they neglect to create a plan for marketing their products or service. There are several ways that you can market your business, including social media campaigns and paid advertising on relevant websites.
If you aren’t familiar with these types of marketing strategies, there are various books that cover both approaches; read up so that you have an idea of which approach would be best for your business. Step 2. Learn The Basics Of Accounting: One of the most important things you need to do as a small business owner is to keep track of your finances—and one way to do that is through accounting software like QuickBooks.
This software will help you manage all aspects of your financials, from invoicing clients to paying employees and filing taxes at year-end. However, if you’ve never used accounting software before, it can be difficult to figure out where to start (or even what questions to ask). Fortunately, there are many online resources available where small business owners share tips and tricks about using accounting software effectively.
Step 2. Choose the Right Products
When you have decided on your business, it is important that you choose high-quality products. Low-quality products will make it hard for you to break even and they may even turn away potential customers. Look at your business’s location too, as certain businesses do better in certain areas. If your industry has a regulatory body, like a chamber of commerce or trade group, join it! The more involved with regulators and other industry members you are, the more likely they are to recognize your legitimacy and expertise.
This can go a long way towards helping keep them off of your back when trying to attract customers and business partners. You should also look into obtaining any necessary licenses or permits needed to run your business legally. Remember that not all industries require these; just be sure to check if yours does. Step 3. Know Your Competition: Before you start your business, take some time to research what others in your field are doing so you know how to differentiate yourself from them while still staying competitive.
One good place to start is by checking out their websites—you can learn a lot about how they market themselves and what kind of services they offer by reading they’re About pages or FAQ sections. Also, consider attending local networking events where people from similar industries get together; these types of events often have guest speakers who share their experiences running similar businesses, which can help give you some great ideas about how to grow yours! Step 4. Get Funding: Starting up a new business takes money—lots of it!
Step 3. Create a Website
What’s Your Endgame? After you have selected a profitable business idea, it is time to get down to brass tacks and select an e-commerce fulfillment company for your dropshipping business. In order for your dropshipping venture to be successful, you will need a dependable third party that can take care of shipping orders for you when an order is placed. In addition, customers will want some kind of customer service from their vendor and a reliable returns policy should be implemented.
The good news is that there are plenty of fulfillment centers out there that provide these services but you have got to be able to identify them before making a choice! The best way of doing so is by checking out as many companies as possible until you find one that ticks all your boxes. You can also read reviews about different fulfillment companies online before deciding on which one to go with.
Once you have done that, it is important to decide what type of website design you would like to create for your store. This might seem like a daunting task but with today’s tools and templates available, creating a professional-looking site shouldn’t be too difficult at all. You don’t even need any previous experience or coding knowledge – just sign up for Shopify’s 14-day free trial (no credit card required) and they’ll walk you through everything step by step.
Step 4. Set Up Your Fulfillment Process
Your plan may be great, but if you don’t have an effective system for distributing and fulfilling your product, then you’re just one of many people trying to start a business. As soon as you think about shipping your product or providing a service, make sure you have accounted for all costs associated with fulfillment. Will it cost money? Does it require time? Who will help you implement it?
The better organized and more streamlined your fulfillment process is, the more efficiently and quickly your product can go from concept to reality. And that’s good news for anyone who wants to make money selling products online. The best way to avoid a costly mistake is by planning ahead and thinking through your entire fulfillment process before starting your business.
This way, you won’t waste time figuring out how things work when you’re already knee-deep in orders. You’ll also save yourself from having to fix mistakes later on down the line, which can cost even more than taking some extra time upfront to plan things out properly. If you haven’t read the E-Commerce Guide For Small Businesses, I recommend checking it out now!
Step 5. Launch Your eCommerce Store On Facebook Marketplace
What is Facebook Marketplace? While it may be a relatively new concept, selling products on Facebook is definitely not a new idea. In 2016, Facebook rebranded its online marketplace from Facebook Store to Facebook Marketplace and opened it up for local small businesses. From clothes and sneakers to crafts and handmade goods, there are thousands of items for sale by people near you every day.
You can buy and sell nearly anything on the Marketplace – not just physical goods but services as well! According to Hubspot, millions of people now shop locally on Facebook each month! If you’re thinking about opening an eCommerce store, Facebook Marketplace might be your best bet. With more than 2 billion users worldwide, it’s hard to argue that Facebook isn’t one of your best options for reaching customers who are actively looking to buy things.
Step 6. Promote your business using Facebook ads, WhatsApp, word of mouth, etc.
Promoting your product or service is a very important part of running any business. Do not rely on your friends and family for promotion; it will most likely do more harm than good. They may refuse to ever buy from you again if they feel pressured into doing so, or they might tell their friends how much they don’t like what you are selling, causing them to avoid you as well.
The best way to get sales is by having targeted ads that appeal directly to your market demographic based on location and interests. If you use Facebook ads, make sure to create multiple versions of each ad with different images and text that speak directly to your target audience. This can be done through Facebook’s Power Editor tool (which takes some time to learn).
You can also hire someone on Fiverr or Elance who specializes in creating effective Facebook ads for small businesses. If you have a website with an online store, use Google AdWords (which is free) instead of Facebook Ads. Most people find Google easier to navigate than Facebook when searching for products online.
Step 7. Generate Revenue
You now have a product or service and a target audience. You also know what you’re going to charge for it and where that money is going. But as an entrepreneur, you will make money only when someone actually pays you. Even if you have all your pricing ducks in a row, nothing’s certain until there’s some cash involved! Here are four steps on how to get that cash into your bank account. (And don’t forget about taxes!)
Write a professional business plan based on the following description: A business plan includes information such as company history, organizational structure, marketing strategy, financial data, and projected income statements. A business plan can be used by potential investors to decide whether they want to invest in your business. If you’re starting a new business venture or making major changes to an existing one, creating a business plan can help guide you through each step of the process.
This guide contains information on how to create effective plans for small businesses and startups with examples and templates. The sample below is intended for businesses seeking financing from outside sources such as banks or investors.
Also Read: Best 50 Lakh Investment Business in Pakistan
Conclusion
Starting an online business is a decision that you shouldn’t make without thinking about it first. We may all have an idea for a great business, but that doesn’t mean we should always run with it. Look into your finances and determine if starting up is even realistic for you right now. Think about what will go into running your business and whether or not you can devote time to setting it up, managing its growth, and keeping track of its revenue.
Use resources like Google Drive or Evernote to keep track of notes related to your business so that you don’t lose information along the way. You never know when those notes might come in handy.
Finally, be sure to consider how much money you’ll need upfront and how much time you’re willing to invest before taking any big steps forward. If you decide it’s worth it, then congratulations! You’re ready to start your own business!
