{"id":9859,"date":"2022-11-16T18:39:36","date_gmt":"2022-11-16T13:09:36","guid":{"rendered":"https:\/\/razorpay.com\/blog\/?p=9859"},"modified":"2025-03-25T14:38:54","modified_gmt":"2025-03-25T09:08:54","slug":"10-tips-on-how-to-start-a-business","status":"publish","type":"post","link":"https:\/\/razorpay.com\/blog\/business-banking\/10-tips-on-how-to-start-a-business\/","title":{"rendered":"10 Tips On How To Start A Business"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Have you ever wondered <a href=\"https:\/\/razorpay.com\/learn\/how-to-start-a-business\/\">how to start a business<\/a> but don&#8217;t know where to begin?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This blog covers all the information &amp; checklists that you should keep in mind before you start putting in all the hard work!\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meet Alisha.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cakes, pastries and all things bakery has been her world for a long time.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It all started with taste-test sessions with her friends, family and relatives.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And today, she wants to open her new bakery shop.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Documentation, registrations, cost estimation, capital requirement, choosing the right business type, <a href=\"https:\/\/razorpay.com\/learn\/what-is-market-research\/\">market research<\/a>, license requirements, and opening a business has never been a cakewalk.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It requires, time, patience and research. But how to start a business &#8211; Alisha keeps thinking about it.<\/span><\/p>\n<p>But first, let&#8217;s understand:<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d0652042113\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d0652042113\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/10-tips-on-how-to-start-a-business\/#What_is_a_Small_Business\" >What is a Small Business?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/10-tips-on-how-to-start-a-business\/#How_to_start_a_business\" >How to start a business?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/10-tips-on-how-to-start-a-business\/#1_Develop_your_business_idea\" >1. Develop your business idea<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/10-tips-on-how-to-start-a-business\/#2_Feasibility_study\" >2. Feasibility study<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/10-tips-on-how-to-start-a-business\/#3_Formulate_a_business_plan\" >3. Formulate a business plan<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/10-tips-on-how-to-start-a-business\/#4_Finance_check\" >4. Finance check<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/10-tips-on-how-to-start-a-business\/#5_Identify_your_business_type\" >5. Identify your business type<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/10-tips-on-how-to-start-a-business\/#6_Choose_a_business_structure\" >6. Choose a business structure<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/10-tips-on-how-to-start-a-business\/#7_Register_your_business\" >7. Register your business<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/10-tips-on-how-to-start-a-business\/#8_Building_a_rockstar_team\" >8. Building a rockstar team\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/10-tips-on-how-to-start-a-business\/#9_Trust_yourself\" >9. Trust yourself<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/10-tips-on-how-to-start-a-business\/#10_Choose_smart_business_banking\" >10. Choose smart business banking<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/10-tips-on-how-to-start-a-business\/#Frequently_Asked_Questions\" >Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/10-tips-on-how-to-start-a-business\/#What_is_a_small_business\" >What is a small business?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/10-tips-on-how-to-start-a-business\/#What_is_a_neobank\" >What is a neobank?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_is_a_Small_Business\"><\/span><strong>What is a Small Business?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<tbody>\n<tr>\n<td><span style=\"font-weight: 400;\">A small business is identified with a lesser number of man-force and. a lesser annual revenue in comparison to a regular-sized business.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">A small business involves less capital investment, less requirement of resources, and less labour force.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These are the characteristics that define a small business:<\/span><\/p>\n<ul>\n<li><b>Ownership: <\/b><span style=\"font-weight: 400;\">They usually have a single owner<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Management:<\/b><span style=\"font-weight: 400;\"> Usually managed by the owner.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Limited Reach: <\/b><span style=\"font-weight: 400;\">They have a limited area of operation.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Flexibility:<\/b><span style=\"font-weight: 400;\"> Because they are small, they are open and flexible to sudden changes, unlike large industries.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Resources: <\/b><span style=\"font-weight: 400;\">They utilize local and immediately available resources. They do better utilization of natural resources and limited wastage.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"How_to_start_a_business\"><\/span><strong>How to start a business?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Let\u2019s read on to find out how to start a business in 10 simple steps.\u00a0\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_Develop_your_business_idea\"><\/span>1. Develop your business idea<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">While you think about how to start a business, it is crucial to pen down your thoughts, and ideas. If you already have an idea of what you want to sell or the industry that you are about to step into, it is crucial that you do research on\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The market- that includes <\/span><span style=\"font-weight: 400;\">market-price fit, consumer surveys, research &amp;\u00a0 focus groups, industry size &amp; growth opportunities.\u00a0\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Competitor &#8211; <\/span><span style=\"font-weight: 400;\">The purpose of a competitor analysis is to explore and get an insight into your competitor&#8217;s strengths and weaknesses and to find gaps in the market. <\/span><b>It will help you recognise how you can enhance your own business strategy<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">But who is your target customer?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is essential to have a clear picture of your target customers-their needs, behaviour and preferences to understand the potential of your business.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Do you want to make people\u2019s lives easier? Or do you want to enrich people\u2019s lives with your art?<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Feasibility_study\"><\/span><strong style=\"color: #111111; font-family: Roboto, Arial, sans-serif;\">2. Feasibility study<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">A feasibility study is a detailed analysis of all the aspects of a proposed business idea or a project to understand the likelihood of its success.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is to determine the viability of the idea before going ahead with business development. This study is of four types:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Technical feasibility<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Market feasibility<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Financial feasibility<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Organisation feasibility<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"3_Formulate_a_business_plan\"><\/span><strong style=\"color: #111111; font-family: Roboto, Arial, sans-serif;\">3. Formulate a business plan<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">You have an idea. You have done your market research. You now have an understanding of your target customer as well.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A business plan<\/span> <span style=\"font-weight: 400;\">establishes your roadmap <\/span><span style=\"font-weight: 400;\">for the future<\/span><span style=\"font-weight: 400;\">. <\/span><span style=\"font-weight: 400;\">It should clearly indicate your future business milestones, how will you reach those milestones &amp; a viable revenue model. Creating a detailed business plan highlighting problem statements &amp;\u00a0 possible solutions, cost projections, revenue streams, operational plans, etc form the pillars of your business plan.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_Finance_check\"><\/span><strong style=\"color: #111111; font-family: Roboto, Arial, sans-serif;\">4. Finance check<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Finally, take a long hard look at your finances and ask yourself, if you:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Have the funds required to start a business?\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If not, how do you plan to raise that capital &amp; on what terms?\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The key is to remember that it can be a while before a new business starts generating sustainable revenue.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So before you start a business it is important to perform a Break-even Analysis.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><span style=\"font-weight: 400;\">A break-even analysis is <\/span><b>a financial calculation that weighs the costs of a new business, service or product against the unit sell price to determine the point at which you will break even<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">The break-even analysis <\/span><b>helps the company to decide the least number of sales required to make profits<\/b><span style=\"font-weight: 400;\">. With the margin of safety reports, the management can execute a high business decision. Monitors and controls cost: Companies&#8217; profit margins can be affected by fixed and variable costs.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Fixed Costs \u00f7 (Average Price \u2013 Variable Costs) = Break-Even Point<\/b><\/li>\n<\/ul>\n<blockquote>\n<blockquote class=\"modern-quote\"><p><b>\u201cA big business starts small.\u201d<\/b><\/p>\n<p><b>-Richard Branson<\/b><\/p><\/blockquote>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">This formula shows the minimum performance achievement required by your business to avoid losing money. This helps determine profitability which is every founder\u2019s topic of interest.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"5_Identify_your_business_type\"><\/span><strong style=\"color: #111111; font-family: Roboto, Arial, sans-serif;\">5. Identify your business type<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">\u201cDo you want to open a physical shop? Or do you want to start with a cloud kitchen?\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The rise of online businesses has been significant in the last few years.\u00a0<\/span><span style=\"font-weight: 400;\">With the ease of use and a better customer experience, online businesses have been trending.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Based on your business plan and financial projections, you can decide on the <a href=\"https:\/\/razorpay.com\/learn\/what-is-a-business-model\/\">business model<\/a> that would suit your situation and idea.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">After all, Praful Billore had also begun with a tea stall and now he runs a 10-crore empire of MBAChaiwala.<\/span><\/i><\/p>\n<h3><span class=\"ez-toc-section\" id=\"6_Choose_a_business_structure\"><\/span><strong style=\"color: #111111; font-family: Roboto, Arial, sans-serif;\">6. Choose a business structure<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Sole proprietorship, partnership, OPC( One Person Company), Trust, NGO, and public\/private limited companies are some of the common business structures in India. It is important to be aware of the benefits and advantages of each business type when you start as a founder.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0Choosing the right business structure that gives you the right balance of legal protections and benefits is crucial for your business\u2019 success<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This step is very crucial as it not only defines the outline of your business but also saves you from tax consequences, and unintended dissolution while you try to convert to a different business structure in future.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"7_Register_your_business\"><\/span><strong style=\"color: #111111; font-family: Roboto, Arial, sans-serif;\">7. Register your business<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Once you are aware of your business structure, the next step is to register your business.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Registering your company has a number of advantages such as:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Enabling the transferability of shares which is feasible in a registered business<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Opening a bank account in the company\u2019s name is easier in the case of a registered business.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Banks and financial companies lend loans to registered business entities as they are structured and also carry more credibility<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">In the case of B2B (Business-to-Business) transactions, most businesses prefer to shake hands with registered business entities.<\/span><\/li>\n<\/ul>\n<p>Related Read: <a href=\"https:\/\/razorpay.com\/learn\/online-business-without-investment\/\">How To Start an Online Business Without Investment?<\/a><\/p>\n<h3><span class=\"ez-toc-section\" id=\"8_Building_a_rockstar_team\"><\/span><strong style=\"color: #111111; font-family: Roboto, Arial, sans-serif;\">8. Building a rockstar team\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span data-offset-key=\"6n4v7-13-0\">Building<\/span><span data-offset-key=\"6n4v7-14-0\"> a<\/span><span data-offset-key=\"6n4v7-15-0\"> team<\/span><span data-offset-key=\"6n4v7-16-0\"> is<\/span><span data-offset-key=\"6n4v7-17-0\"> essential<\/span><span data-offset-key=\"6n4v7-18-0\"> for<\/span><span data-offset-key=\"6n4v7-19-0\"> any<\/span><span data-offset-key=\"6n4v7-20-0\"> new<\/span><span data-offset-key=\"6n4v7-21-0\"> business<\/span><span data-offset-key=\"6n4v7-22-0\">.<\/span><span data-offset-key=\"6n4v7-23-0\"> A<\/span><span data-offset-key=\"6n4v7-24-0\"> strong<\/span><span data-offset-key=\"6n4v7-25-0\"> team<\/span><span data-offset-key=\"6n4v7-26-0\"> of<\/span><span data-offset-key=\"6n4v7-27-0\"> individuals<\/span><span data-offset-key=\"6n4v7-28-0\"> with<\/span><span data-offset-key=\"6n4v7-29-0\"> diverse<\/span><span data-offset-key=\"6n4v7-30-0\"> skills<\/span><span data-offset-key=\"6n4v7-31-0\"> and<\/span><span data-offset-key=\"6n4v7-32-0\"> talents<\/span><span data-offset-key=\"6n4v7-33-0\"> will<\/span><span data-offset-key=\"6n4v7-34-0\"> be<\/span><span data-offset-key=\"6n4v7-35-0\"> essential<\/span><span data-offset-key=\"6n4v7-36-0\"> for<\/span><span data-offset-key=\"6n4v7-37-0\"> any<\/span><span data-offset-key=\"6n4v7-38-0\"> business<\/span><span data-offset-key=\"6n4v7-39-0\"> to<\/span><span data-offset-key=\"6n4v7-40-0\"> succeed<\/span><span data-offset-key=\"6n4v7-41-0\">.<\/span><span data-offset-key=\"6n4v7-42-0\"> A<\/span><span data-offset-key=\"6n4v7-43-0\"> team<\/span><span data-offset-key=\"6n4v7-44-0\"> can<\/span><span data-offset-key=\"6n4v7-45-0\"> help<\/span><span data-offset-key=\"6n4v7-46-0\"> a<\/span><span data-offset-key=\"6n4v7-47-0\"> business<\/span><span data-offset-key=\"6n4v7-48-0\"> to<\/span><span data-offset-key=\"6n4v7-49-0\"> create<\/span><span data-offset-key=\"6n4v7-50-0\">,<\/span><span data-offset-key=\"6n4v7-51-0\"> implement<\/span><span data-offset-key=\"6n4v7-52-0\"> and<\/span><span data-offset-key=\"6n4v7-53-0\"> execute<\/span><span data-offset-key=\"6n4v7-54-0\"> a<\/span><span data-offset-key=\"6n4v7-55-0\"> successful<\/span><span data-offset-key=\"6n4v7-56-0\"> strategy<\/span><span data-offset-key=\"6n4v7-57-0\">,<\/span><span data-offset-key=\"6n4v7-58-0\"> develop<\/span><span data-offset-key=\"6n4v7-59-0\"> innovative<\/span><span data-offset-key=\"6n4v7-60-0\"> ideas<\/span><span data-offset-key=\"6n4v7-61-0\">,<\/span><span data-offset-key=\"6n4v7-62-0\"> provide<\/span><span data-offset-key=\"6n4v7-63-0\"> support<\/span><span data-offset-key=\"6n4v7-64-0\"> and<\/span><span data-offset-key=\"6n4v7-65-0\"> guidance<\/span><span data-offset-key=\"6n4v7-66-0\">,<\/span><span data-offset-key=\"6n4v7-67-0\"> and<\/span><span data-offset-key=\"6n4v7-68-0\"> ensure<\/span><span data-offset-key=\"6n4v7-69-0\"> that<\/span><span data-offset-key=\"6n4v7-70-0\"> the<\/span><span data-offset-key=\"6n4v7-71-0\"> business<\/span><span data-offset-key=\"6n4v7-72-0\"> is<\/span><span data-offset-key=\"6n4v7-73-0\"> on<\/span><span data-offset-key=\"6n4v7-74-0\"> track<\/span><span data-offset-key=\"6n4v7-75-0\"> with<\/span><span data-offset-key=\"6n4v7-76-0\"> its<\/span><span data-offset-key=\"6n4v7-77-0\"> goals<\/span><span data-offset-key=\"6n4v7-78-0\">.<\/span><span data-offset-key=\"6n4v7-79-0\"> The<\/span><span data-offset-key=\"6n4v7-80-0\"> right<\/span><span data-offset-key=\"6n4v7-81-0\"> team<\/span><span data-offset-key=\"6n4v7-82-0\"> can<\/span><span data-offset-key=\"6n4v7-83-0\"> also<\/span><span data-offset-key=\"6n4v7-84-0\"> help<\/span><span data-offset-key=\"6n4v7-85-0\"> a<\/span><span data-offset-key=\"6n4v7-86-0\"> business<\/span><span data-offset-key=\"6n4v7-87-0\"> to<\/span><span data-offset-key=\"6n4v7-88-0\"> manage<\/span><span data-offset-key=\"6n4v7-89-0\"> risks<\/span><span data-offset-key=\"6n4v7-90-0\">,<\/span><span data-offset-key=\"6n4v7-91-0\"> build<\/span><span data-offset-key=\"6n4v7-92-0\"> relationships<\/span><span data-offset-key=\"6n4v7-93-0\"> with<\/span><span data-offset-key=\"6n4v7-94-0\"> customers<\/span><span data-offset-key=\"6n4v7-95-0\"> and<\/span><span data-offset-key=\"6n4v7-96-0\"> partners<\/span><span data-offset-key=\"6n4v7-97-0\">,<\/span><span data-offset-key=\"6n4v7-98-0\"> and<\/span><span data-offset-key=\"6n4v7-99-0\"> increase<\/span><span data-offset-key=\"6n4v7-100-0\"> productivity<\/span><span data-offset-key=\"6n4v7-101-0\">.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"9_Trust_yourself\"><\/span><strong style=\"color: #111111; font-family: Roboto, Arial, sans-serif;\">9. Trust yourself<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">You are on the right track and starting something new takes immense creativity, research and patience. You\u2019re the owner of your venture and every small step can have rewarding impacts.<\/span><\/p>\n<blockquote class=\"modern-quote\"><p><strong>\u00a0The most successful entrepreneurs I know are optimistic. It\u2019s part of the job description.<\/strong><\/p>\n<p><strong> \u2015 Caterina Fake, founder of Flickr<\/strong><\/p><\/blockquote>\n<h3><span class=\"ez-toc-section\" id=\"10_Choose_smart_business_banking\"><\/span><strong style=\"color: #111111; font-family: Roboto, Arial, sans-serif;\">10. Choose smart business banking<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Traditional business banking services can hinder your momentum. Choose the right business banking partner to take the stress of managing money movement so you can focus on scaling your small business.\u00a0<\/span><\/p>\n<p>The <a href=\"https:\/\/www.rbi.org.in\/Scripts\/PublicationReportDetails.aspx?UrlPage=&amp;ID=956\" rel=\"nofollow noopener\" target=\"_blank\">startup<\/a> ecosystem is expanding and new businesses are budding everywhere. Hence the dependency on a stable and smart banking platform has been ever-increasing.<\/p>\n<p><span style=\"font-weight: 400;\">RazorpayX, offer a smarter and more intuitive dashboard that enables you to perform seamless vendor payments, smart tax payments, automated payroll compliance, easy accounting software integrations and so much more in just a few clicks.<\/span><\/p>\n<div style=\"text-align: center;\"><a style=\"border-radius: 3px; background: #528FF0; padding: 15px; font-weight: 600; cursor: pointer; text-decoration: none; color: white;\" href=\"https:\/\/razorpay.com\/x\/current-accounts\/?r=blog_cta_business_banking_how_to_start_a_business&amp;utm_source=blog&amp;utm_medium=cta\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">RazorpayX-powered Current Account<\/a><\/div>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/razorpay.com\/x\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">RazorpayX<\/a> is a full-stack banking suite that enables<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Banking which Provides end-to-end automation with powerful features like Automated Accounting, OTP management, Maker-Checker Flows,<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/razorpay.com\/x\/corporate-cards\/\"><span style=\"font-weight: 400;\">Corporate Cards<\/span><\/a><span style=\"font-weight: 400;\"> with 20X higher limits<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Automated<\/span><a href=\"https:\/\/razorpay.com\/x\/vendor-payments\/\"> <span style=\"font-weight: 400;\">Vendor Payments<\/span><\/a><\/li>\n<li aria-level=\"1\">Forex Services<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/razorpay.com\/payroll\/\"><span style=\"font-weight: 400;\">Payroll<\/span><\/a><span style=\"font-weight: 400;\"> &#8211; India\u2019s ONLY payroll with Full compliance automation, Employee Insurance management and TDS filing)<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">With platforms like RazorpayX, you can supercharge your finances.<\/span><\/p>\n<div style=\"text-align: center;\"><a style=\"border-radius: 3px; background: #528FF0; padding: 15px; font-weight: 600; cursor: pointer; text-decoration: none; color: white;\" href=\"https:\/\/x.razorpay.com\/auth\/signup?r=blog_cta_business_banking_how_to_start_a_business&amp;utm_source=blog&amp;utm_medium=cta\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Join RazorpayX!<\/a><\/div>\n<div><\/div>\n<div>Read more: <a href=\"https:\/\/razorpay.com\/learn\/current-account-opening-documents-required\/\">Documents required to open a Current Account<\/a><\/div>\n<div><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span>Frequently Asked Questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div id=\"rank-math-rich-snippet-wrapper\"><div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-1\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"What_is_a_small_business\"><\/span>What is a small business?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>A small business is defined as a privately owned corporation, partnership, or sole proprietorship that has fewer employees and less annual revenue than a corporation or regular-sized business.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-2\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"What_is_a_neobank\"><\/span>What is a neobank?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Neobanks are new-age banks without any physical location, present entirely online. They provide digital, mobile-first financial solutions for payments, money transfers, lending, and more.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Have you ever wondered how to start a business but don&#8217;t know where to begin? This blog covers all the information &amp; checklists that you should keep in mind before you start putting in all the hard work!\u00a0\u00a0 Meet Alisha. Cakes, pastries and all things bakery has been her world for a long time.\u00a0 It<\/p>\n","protected":false},"author":102,"featured_media":9865,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[27],"tags":[],"class_list":{"0":"post-9859","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business-banking"},"_links":{"self":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/9859","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/users\/102"}],"replies":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/comments?post=9859"}],"version-history":[{"count":6,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/9859\/revisions"}],"predecessor-version":[{"id":21649,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/9859\/revisions\/21649"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media\/9865"}],"wp:attachment":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media?parent=9859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/categories?post=9859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/tags?post=9859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}