Answer:
If I had 1 lakh as initial capital, I would start a small online reselling or dropshipping business, focusing on trending products like fashion accessories, mobile gadgets, or daily-use items.
The main reason for choosing this business is that it requires low investment and minimal risk. I wouldnt need to invest heavily in inventory at the beginning. Instead, I could partner with suppliers and sell products through platforms like social media or online marketplaces.
First, I would spend some time researching market trends to identify products that are in high demand. Then, I would create a simple online store or use platforms like Instagram and WhatsApp to promote my products. A portion of the budget would be used for digital marketing, such as running ads and creating attractive content to reach more customers.
I would also focus on customer satisfaction by providing good quality products, fast delivery, and quick responses. This would help in building trust and gaining repeat customers.
As the business grows and starts generating profit, I would gradually reinvest the earnings to expand the product range and improve branding.
Overall, I chose this business because it is scalable, flexible, and suitable for a beginner, especially with a limited budget like 1 lakh.
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