Dinesh Mohanraj
by Dinesh Mohanraj, CBO – Regional Director, StartupLanes, Chennai
May seem like a daunting task, but it’s entirely possible, as I did with my own startup. Here’s how I embarked on this entrepreneurial journey and made it work.
Initial Investment:
Rule 01: Focus, hold the authority, and start with Minimal investment
I began with an investment of Rs. 579 (you can get this free when you buy a separate server), which I spent on acquiring a domain for my website. I made sure to utilize my existing resources wisely. I used my own laptop, which I had purchased five years ago, and my initial operations were conducted mainly through WhatsApp.
Bootstrapping:
Rule 02: Be Frugal and use the existing resources first
To keep costs low, I handled various aspects of my startup on my own. When I started generating income from my students, I invested in a website. I took the DIY (do-It-Yourself) approach by coding my website on WordPress. When I needed assistance, I hired a Freelancer. To pay the Freelancer, I referred to other projects and earned a commission that covered the costs.
Cost-Efficient Strategies:
Rule 03: Be smart and do affiliation
I purchased a WordPress theme for around Rs. 5000, which works well for my website. I also followed a cost-effective strategy by hiring Freelancers from Tier III cities, as they offered quality work at a lower cost.
Pros of my Startup:
- No need for a physical shop or office.
- No partnerships or commissions
- No inventory management.
- No credit or loans – the startup is services-oriented
Temporary Cons (but I like it)
During the initial phase, I took on multiple roles, including being,
- As a trainer
- As an Author, content creator
- As a Website developer
- As Marketing and Social Media Manager
- Investor and Accountant
This led to long working hours, with me sleeping only around 4.5 hours a day, but I enjoy this 😊
New Investments:
Rule 04: Reinvest the profits
As my startup grows, I am investing in the below,
- Trademark registration to protect my brand
- A new laptop for increased efficiency
- More investment in technology for expansion
- Hiring more teachers to train people in various areas
Services provided:
My business offers a range of services including:
Health
- Yoga – for a healthy body
- Meditation – for mindfulness
- Reiki – for energy management
- Nutrition and organic food guidance – for food and calorie management.
Wealth
- MoneyVibes on wealth management
- SecretVibes on the Law of Attraction
- EnergyTalks, where I interview inspirational people
- Business and Career Coaching (using Japanese principles)
- Basic Stock Market guidance (I am an investor for the last 10+ years)
Happiness
- Retreats: Spiritual travel packages to temples and energy points around the globe
Collaboration Opportunities:
I have a strong inclination toward collaboration, and I’m actively seeking contributors from the following sectors:
- Medical and health
- E-commerce
- Coaching/Consulting
- Content creators and Digital Marketers
- Organic Farming and any other interested people
Starting a startup with minimal investment is challenging, but by being resourceful, leveraging your skills, and focusing on cost-effective strategies, it is possible to build a successful venture, as I did with my own startup. My journey is a testament to the power of determination and creativity in entrepreneurship.
Thanks to Shishir Gupta and the Startuplanes team for this great opportunity to present my startup.
Our Instagram Live Discuss With My Startups :
