Generate Startup Ideas in Nepal

Entrepreneurship can work both ways. One can have their Eureka movement with their startup idea and simply know what they want to work on. On the other hand, some people might know that they want to become an entrepreneur but their idea might not be clear. This blog will teach you how to generate startup ideas that would work in Nepal if you don’t have one.

why do startups in Nepal fail

1. Look for apparent problems – Once you understand that the core of entrepreneurship lies in problem-solving, It will be easier to spot potential ideas. Sad but a true fact is that the underdevelopment and the persistent crisis in our country in every sphere of life provides a huge pool for startup ideas from education to health, from lifestyle to food, there are problems that we can easily spot on the surface level that need to be solved.

Once you decide on a problem that you want to solve, the next step is to find a way to make money while solving the problem while also keeping the solution feasible, scalable, and affordable. This is the most effective way to generate startup ideas in Nepal. Don’t worry if this sounds difficult. Study the business model of any business that you can think of and they will be doing the same thing.

2. Adopt Not-so-new Plans – The good thing about starting out late in entrepreneurship as a country is that we already know what works and what doesn’t when it comes to businesses. There are so many startups that have already done the trial error thing for us and now we can just research on what works for a country like Nepal.

You can look for startups working in a similar economic or social state like ours, try to find out the consumer behavior of their consumers and how are our Nepalese consumers different. You will obviously have to make some changes in the business model but you will get an idea.

Generate Business Ideas in Nepal

3. Tap into your passion – There is nothing better than doing what you love to do. Entrepreneurship is a stressful profession and it will be nerve-wracking and challenging but it won’t be as difficult if you are passionate about your business, if you love what you are creating and the change that you are causing.

So, if you like to travel, maybe you can be a travel entrepreneur. If you are interested in Technology, maybe you could be a tech entrepreneur or an education entrepreneur. This is the best way to generate startup ideas in Nepal that will fulfill not only your personal but professional goals as well..

4. Travel – To generate startup ideas in Nepal can be really fun as well. Nothing opens up your mind like traveling. If you want to generate startup ideas in Nepal, just pack your bags and set out on a journey to explore. This will expose you to problems, people, ideas that would never ever get sitting at your home or your office.

 Also, it will help you develop many entrepreneurial traits like confidence, negotiation, patience, empathy, working with the bare minimum, not giving up. You will also a lot of fun. I recently moved to this small village in Khotang and started teaching in a public school and it has been the best decision of my life so far. Check back in a few weeks to read about that.

Read about : Become a travel entrepreneur in Nepal

Read about : Education Startups in Nepal

5. Research – Once you think you have got it, this is the idea that you want to work upon. The next thing to do is to research it. See if somebody else is doing it, see if a similar idea had failed earlier, or even if a company has been doing the same thing and doing exceptionally well.

The catch is to try and work on new and innovative things so that you will have one less thing to deal with at that particular time; competition. You will have to choose an idea that can make money to run the company, solve the problem completely and be affordable, feasible, and scalable.

Generate Business Ideas in Nepal

6. Just do it – If there is a cause that you feel strongly about, a problem that needs to be solved, a business idea that resonates with your personality and you feel like this is it, then just do it. Go for it. Even if somebody else is doing it, it doesn’t matter.

Google, Apple, or even Facebook was not the first ones to come up with the “original Ideas” they started working on. There were already tens of social networking sites or search engines while these companies were built. What set them apart was how they did it, how persistent they were when problems came, how they built a team strong enough to tackle all the problems and still manage to innovate and create greatness.

Generate Business Ideas in Nepal

 

However, just because you feel passionate about an idea, don’t let it blind you from the facts. Do not ignore red flags or overlook important details just because you feel this is the right thing to do. There is a reason why most startups fail, learn from them.

Read Next

why do startups in Nepal fail

Why do startups in nepal fail?

Knowing what not do in the business world makes a lot of difference. The success rate of startups in Nepal is visibly low.

 Read what are the reasons for failure of most startups in Nepal.

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