You must have heard that startups fail but do you know Why? Because of one or more reasons like lack of adequate funds, quality resources and infrastructure and so many things which one requires for running a startup successfully. But not every startup fail and the reason behind this is the constant effort and hard work they put in to achieve the desired results.

There are a number of startups which have been failed badly but there are also some of the startups which have proved us that nothing is impossible in this world if we are willing to take the pain and do the hard work. In this article, we have listed

Some of the startups which failed miserably but after now everyone knows about them as now they have gained quite a popularity among the masses.

1. Uber

via: Archid

We can’t imagine our life without using Ola and Uber nowadays. The car rental startup, Uber has been started by one school dropout who got very good funding to carry out his project. He started the company in the year, 2010 which has a value of nearly $17 billion as of now.

2. Instagram

via: Inc

One of the most famous photos sharing app, Instagram has been launched by a person who wanted to learn how to code so he decided himself to learn to code after his working hours. Post-learning about coding, he has successfully created an app about which everyone is talking today.

3. OYO Rooms

via: Yatra

The very young and talented Ritesh Agarwal who is also a college dropout has made this idea a successful launch at the age of 17 only. Do you know OYO was earlier known as ‘Oravel’? The concept was fairly unique and accepted by especially young couples, married or unmarried. As of now, the company values over $25 billion.

4. Alibaba

via: Mashable

He is the man of words, from whom we can learn so much. He is truly like an inspiration for so many peoples as he knows the real struggle behind finding a job for himself as he faced many rejections in his life for every possible job which he tried.

And you know, he hardly knows how to speak English. Facing so many failures, he decided to start his very own startup, Alibaba which is a giant Chinese e-commerce player and everyone knows about it.

5. LinkedIn

via: Glassdoor

One of the most important startups of the millennium I guess which helps people to find jobs and make contact with professionals over social media. Initially, when the app was set to launch in the year 2013, the founder asked some of his friends to join the website.

After some time, it gets a positive response from a huge number of people and today it has a worth of over $1 billion.

6. Tripoto

via: Tripoto

This startup was started up by two friends together who were avid travellers. They have started the company in the year 2013. The company has also received a huge amount of funding of nearly Rs. 2 crores within a year.

7. Pinterest

via: Officelovin

To start this venture, a guy has left his job to work along with his two friends. Initially, the app got flopped badly. So, they again tried to re-launch the app in the year 2010 which now has over 25 million active users worldwide.

I am sure you that must have heard of TikTok, Right? So, let’s talk about it more in detail What TikTok is? Who is its Owner? And how does TikTok makes Money? Here’s everything that you need to know about the short video app.

What do you know about TikTok?

If you are an internet savvy person or the parent of one, then you might have heard of this. TikTok is the short form video app that is currently making everyone’s mind blow. As using this app one can make funny videos, dance videos, singing videos or even you can post much more fun on it making yourself popular side by side.

Video clips that you post on the platform may only last for only 15 seconds, but they make a big impact. On its official website, the company has described itself as ‘a destination for short-form mobile videos.”

Who is the owner of TikTok?

At present, TikTok has approximately more than 500 million users worldwide which itself explains that how much people are liking it and having fun using such an amazing app. The platform, TikTok is owned by a Chinese company, Byte Dance. Zhang Yiming, who is a 35-year-old entrepreneur, is the Founder & CEO of Byte Dance. The company was recently crowned the world’s most valuable startup.

“Do you know that TikTok is very famous among young people and has about 80 million downloads in the U.S. alone”.

And since its launch in the year 2012, the company has made a $75 billion valuation.

The company that owns TikTok, Byte Dance does more than just running only running TikTok. IT also owns toutios which is an extremely popular news platform with 240 million downloads as well as some products like Xigua Video, TopBuzz, and BuzzVideo.

How does TikTok make money?

Are you also a TikTok fan? And you also want to make money from TikTok. Then, here is how you can make it.

The short video app, offers in-app purchases of coins, starting at 100 for $0.99 and leveling up to 10,000 for $99.99 as per the mobile intelligence firm, Sensor Tower. TikTok users have reportedly spent $3.5 million on in-app purchases during the month of October 2018 which is nearly four times what they have earned during October 2017.

As per the Bloomberg’s report in October revealed that the company Byte Dance’s target revenue for the year 2018 was $7 billion and the company is still not been able to create any profits yet as decided earlier.

AS per the latest media reports, it is believed that the company is planning to go public this year although it has not been cleared till now.

The agency, popularly known as Digiday may start its advertising on this platform which may costs up to about $150,000 for just one day and newsfeed ads for $4 per click.

Can you make money on TikTok?

Well, this is a question about which every TikTok fan just wanted to know about.

Yes, one can make money using this short video app. In fact, if you are really good and if you have a specific talent that you may want to show up to the public over the internet, you can undoubtedly earn your living from TikTok.

So, why don’t you give it a try to convert your dream of becoming big and popular by posting your own videos?

In addition to this, several companies are also making use of this platform to grow and advertise them by investing literally a huge amount which even one cannot imagine.

According to the report in 2018, there are more than 206 million people who spend their money on online shopping this year, if you think about starting an eCommerce Store, time is not gone. To start an e-Commerce Store and to sell the product online, you should check out the list to do before start Store.

1. Start with Decide your Store name

After deciding what you want to sale, you have to select the memorable, fabulous store name that no one is using. You have to search then choose the corporate name. After the name has been chosen, you can register your store as Private Limited Company Registration, LLP, etc. You have to follow the legal process.

2. Protect Your Website and Domain Name

After deciding your store name then you have to decide your domain name, if the domain name is not available, select the URL which is easy to pronounce and related to the Store.

For example, if your store is related to craft creation and store name is Taruna craft creation then Domain will be Tarunacraftcreation.com. If it is not available you can select a similar domain like craftcreationtaruna.com. Selecting a unique domain name is one of the expensive things in eCommerce.

3. Decide the Type of Business Structure and Register your Store

There are varieties of registering options like-

1. A) Partnership
2. B) Sole Proprietor
3. C) Corporate
4. D) LLP

If you will not select the business structure like LLC and corporate then you will automatically consider as a Sole proprietor by Government. Operating as a sole proprietor, your personal assets at your personal risk and if the company is ever sued then the court can collect your assets.

Both LLC and corporation separate you, provide other benefits, and your assets from the business. If both corporation and LLC Separate you and your assets from the business and provide other tax benefits.

4. Apply for Permits and Business Licenses

Operating an eCommerce Store cannot be implemented with some Licenses and permits. It differs from state to state and country to country check sorts of home business licenses and sales tax licenses you need and get approved before start store. According to your store, you have to take permit from the Fire department or any other as per applicable rules and regulations.

5. Search the Right Vendors

In this competitive era you will find lots of competitors selling products online, so according to your interest find out the best quality and best prices for your products you sell or materials you use to create your product. Find the vendor that you want to do business for a long time.

6. Get more familiar with Right Software

We can work with the help of technology as it is more easy and as well as save the time and efforts. So, before starting an eCommerce business, play around with accounting, customer relationship management, project management, email marketing, and other software which helpful for your eCommerce store. Once you launch, then you can integrate into what you are doing.

  7. Stock Your Inventory

Whether you have lots of products in your warehouse somewhere or you store your inventory in your garage be sure you have got enough at a day of launch. It will difficult to decide how much it requires. To have many inventories is not enough. Focus on how you can increase your sale. You can focus on future and smart orders.

8. Your Employer Identification Number

For open a business bank account and file your business tax every year will need an Employer Identification Number (EIN). ENI is a Business social security number, and it is a unique number which helps you file important paperwork and identifies your business. Every business requires whether you will have employees or not.

Conclusion

I hope this article is valuable to you. By this article, you can understand how you can start your eCommerce store like Store name, Registration, Inventories, EIN, and Software.

Afleo is a leading website which helps startups to commence their business by legal advice and service provider like GST registration, PVT LTD registration, one person company or for the information you can visit our website Afleo.com or contact us.