In October of 2018, I started an ambitious project. I decided that I would start a business, with a paltry investment of ₹100, and turn it into ₹100,000
By all standards, ₹100 is way too low for a business. And that is precisely why I decided to choose that amount. I want to prove, that in order to succeed in business, one does not need colossal investment. There already exist, stories of entrepreneurs who have made it big from humble beginnings. However, I wanted to document the entire process. I wanted to show that anybody, who lives in a place like New Delhi, can make it. If I can turn ₹100 into ₹100000, everyone can.
I had set the budget, but I had to decide what to do. What was I going to do with my ₹100? I wanted to start by trading something. I got the idea to do this from the American entrepreneur, Gary Vaynerchuk. Gary is incredibly successful on social media and has a series on YouTube called Trash Talk where he buys items for cheap at garage sales, and later sells them for higher prices online. Although we don’t have such garage sales in India (and if we do, I don’t know about them), we do have markets where we can pick items up for cheap. For an investment of ₹100 I knew a great place.
Every Sunday, at Daryaganj in Old Delhi, there is a book market where books are sold at throwaway prices. I picked up 5 books at ₹20 each.
- I did not add to the initial investment, a travel cost of ₹ 52, this cost however will be included while calculating profits
- All future travel costs will be borne out of the revenues of the business This means that the total start up cost was ₹ 152
- I would not be including costs of travel, if I am already travelling to a place for some other reason like:
The Result So Far
So far, things are moving in the right direction, but far from great. I have nobody but myself to blame for that. I failed to manage my studies alongside this project, and did not take out time to continue it after my mid-semester break. In fact, all of my sales were made in the month of October, and I made no progress after that. I intend to resume working on this project. Updates will be posted regularly on my website, Instagram, and YouTube.