Hey guys, why don’t you think of start a business on your own. In this young age, why you spend your time for others, they get benefits from you, by your hardwork. Do you ever think that your employer pay you 50000 rupees without getting anything from you. Please think that your hard work will be most valuable than the price the employer gives to you. Be aware, that your hardwork is valued 5 times of your salary.
I do not recommend you to leave your current job. Of course you need money to start a business. But don’t think you need huge amount to start a business. A person can start a business even with Rs.500 and it could become Rs. 500 billion. In some cases it happens like people invest Rs.500 billion and business end up in road with loss of money. Therefore don’t think that you should have lots of money to initiate a business.
Before you start the business you should select the field of your interest. Think which field would be suitable for you. When you decide the field don’t forget to collect the information of competitors. Which is the most important thing to identify your competitor’s plan than your plan. because then only you can wack him(competitor) from the market.
Plan your self as when to start the business and where to start the business and how to start the business. These are considered as more important questions. When you plan your business do not forget to plan your future strategies and how you want to be in future. That desire will make you to be perfect in starting the business.
When you plan your business then look at the market, whether any changes happening or whether you need any changes in your plan. Please be mind that world is changing rapidly. So customer needs may change day by day. Therefore be flexible to change your plans and adopt new changes.
After all plan and select the place to start the business which is critical success factor of the business. Selecting the stakeholders for the business (specially who are providing materials and other important stuffs) is also one of the critical success factor.
When you start the business initially you may think that the business is success. Dont expectmuch profit for three years. Because when you expect about the profit you may manipulate the business or you may make several new products. Therefore the quality you expect may not come as you are carry over several businesses.That may lead your business in negative manner which make you unsuccessful in the future.
So in the first year, start with small ideas which may not need much money. When you feel that your organization get a positive goodwill then start the business to expand it and make some innovations.
When you succeed in that particular business, don’t forget to start another business. Mind that if a person can do one business in a good manner, s/he can do more businesses.
When you think like that the success is not far from you.
All the very best to you all.