Case Study: Which business to start?

[The_Big_K]

Originally Posted by integratdbrains

.Entrepreneurship is the most easy thing on this earth that you can do.(got it so i am planning to do it!!

Is it really the easiest thing on earth? My experience says it is one of the most difficult things to do.

Easiest thing would be to get a job and try to climb the corporate ladder

-The Big K-

[integratdbrains]

ya u need to climb the corporate ladder!! climbing something i m too tired for now !!i will have an escalator or an elevator or both in my company!! its better i keep both!

[crazyboy]

Originally Posted by The_Big_K

Is it really the easiest thing on earth? My experience says it is one of the most difficult things to do.

Easiest thing would be

-The Big K-

Am agree with you biggi...
"
Is it really the easiest thing on earth? My experience says it is one of the most difficult things to do.

Easiest thing would be talking about it that," it is the most easiest thing...."
"

No offence means....

--Crazy

[integratdbrains]

Its ok crazyboy.. i know its really very easy to speak about it..but believe me only a bit of difficult than that, is going into it.. Well only i can say is it may differ for every individual!

[crook]

Its time to add my comment in this interesting discussion. I can see everyone has his or her opinions about this topic. As described in the case study, our protagonist wants to take up a business because he/she is not allowed to do PG.

However, I think the statements are conflicting, well not a clear conflict, but a little. Parents would know their son's/daughter's situation. If they are forcing him or her to start a business, they should be willing to help in case of need. This need may be financial or emotional or whatever!

I have never started any business. But I can say is that you cannot start a business because your friends think a business is good. Are your friends lending you a helping hand? Or are they willing to partner with you and share your risks?

Starting a business, I think, is risky. Specially, when you do not have enough capital to get started and your family may not support you in case anything goes wrong.

Again, the decision of which business to start depends on various factors. Your location, available capital, as biggie says; your network, your interest and experience. But to minimize the risk, one may takeup courses on entrepreneurship and what it takes to start any business. One may also start with SSI & grow it into a big corporation.

The bottom line is that you get educated on what it takes to start and run a business and then take a plunge.

CrooK

[Jerry]

crook has a point and I support it.

the focus is on parents. why do they insist on starting a business? any special reasons for that?

why would one not allow to take loan? how can one expect to start a business without money?

Jerry

[The_Big_K]

Originally Posted by Jerry

crook has a point and I support it.

the focus is on parents. why do they insist on starting a business? any special reasons for that?

why would one not allow to take loan? how can one expect to start a business without money?

Jerry

Any updates on this thread?

Jerry's got interesting questions.

-The Big K-

[pradypop]

Well, intresting discussion here. My experiences might help.

I never had money or experience. I started by joining a guy who had a piece of property which was not being used since 3-4yrs because of lot of disadvantages of location. I joined as a working partner there. I started training in hardware assembling because i had an old 386 pc at that place. When we start we feel things are eazy. Its only over a period of time we realise that its needs a lot more to get things moving. I never got a penny for advertisments or an other support. My first student was a salesman who visited the place to sell pens. He joined hardware for 500/- bucks. That took me 3 months and helped me to avoid closing of the institute for a week(my partner had lost his patience by then). I released a classified ad, with that amount. That generated 4-5 enquires. 3 joined. 1500 bucks!!! few more ads. I managed to save 9000/- in 8-months. Thats when i decided that i'll go alone. I took a place and promised the owner to deposit rent and advance in a months time. I purchased a table and a chair and released two 5x4 ads for embedded systems. generated abut 15-18 enquires. Converted 3 of them.

That earned me about 30k. Made part payment to owner and released lot more ads. And things moved on.

In 18 months since I got 12 employees, 6 engineers, more than 15 lacks of assets, monthly turnover in excess of a lack and a half and lots of corporate clients.

Its important to take calculated risks at regular intervals. Also be prepared to the fact that there will be atleast 10times more failures than successes everyday. Just never give up.

Hope this helps to give you some idea of starting a business. Well, I failed to mention. My parents always supported me. Only they never had any spare money. They did sell off every thing they had to educate me and my brother.

[The_Big_K]

Simply Amazing!

There's lot to learn, newbie/wanna-be entrepreneurs ! Read the following quote 20 times -

Its important to take calculated risks at regular intervals. Also be prepared to the fact that there will be atleast 10times more failures than successes everyday. Just never give up.

-The Big K-

[The_Big_K]

Sorry for the double post, but I can't help quoting Mahesh Murthy -

When asked "99% of the new start-ups fail, so why start a business?"

Mahesh replies "100% of the humans die, why live?"

So the lesson is - Never Give Up !

-The Big K-