I am 22 years old. I have 1 lac in my bank account. What business can I start?

Hello Future Entrepreneur,

here is the answer but before reading my answer please be patient and show some eagerness in learning something new always!

Now

Why me?

I have started and tried almost every kind of small business at my scale and tried to scale it further and this long journey could be beneficial for others, that’s why I think its a good place to share my knowledge.

Answer:

First of all, you have 1 lakh capital for the business to start and let me analyze that you have a learning attitude and have patient and consistent. these qualities are necessary for the successful start of the business and you must be consistent to apply new ideas in the business.

Tips to remember while you have 1 lakh Rs

  1. Save 20–30% money aside (invest on high return stock research it).
  2. Start the business which requires 1 lakh capital in 1k, this sounds foolish, but try.

1.Problem

Yes you heard right Starting a business with low investment is possible you must be more optimistic towards the problems and their lowest possible or easiest methods available to solve the problem, the problem-solving mindset is what you will need in future for the development of business and it would be more useful for the growth model.

2.Solution

the solution must have clarity and you should check whether its really solving the problem or not, if yes you should scale those solutions to the next level and add some basic layers into it.

3.Execution

next important step is to take action not just sitting and daydreaming and develop more learning attitude while taking actions and learn from the mistakes that will improve you in the future and will lead you to the fullest of your life.

I’m sure you will thank me later!!!

Thank You!