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Kaustubh Katdare
Kaustubh Katdare • Aug 7, 2008

How many of you want to start your own company?

...and what are you doing about it?

What steps are you taking? What's stopping you from giving your venture a go?

I know most of you dream about being your own boss. Let's discuss challenges/issues you're facing in chasing your dream.

😁
kedarjk
kedarjk • Aug 8, 2008
Count me!!!!!
I really wanted to start my own company. I haven't decided yet that what type of company I will start, but really willing to.

What's stopping me is definitely that I don't have backup. Also capital required for starting a company, I don't have it currently.

Steps taking, I would say I am making my friends ready to help me in doing that. We keep thinking, discussing of new business ideas. Also I keep awareness about what's going on in business world.

Some important web sites I would like to mention here.

BusinessWeek - Business News, Stock Market & Financial Advice
Business & Small Business
Kaustubh Katdare
Kaustubh Katdare • Aug 8, 2008
kedarjk
Count me!!!!!
I really wanted to start my own company. I haven't decided yet that what type of company I will start, but really willing to.

What's stopping me is definitely that I don't have backup. Also capital required for starting a company, I don't have it currently.

Steps taking, I would say I am making my friends ready to help me in doing that. We keep thinking, discussing of new business ideas. Also I keep awareness about what's going on in business world.

Some important web sites I would like to mention here.

BusinessWeek - Business News, Stock Market & Financial Advice
Business & Small Business
Alright. Kedar mentioned a very common problem faced by wannabe entrepreneurs.

First of all, willingness to do something different is a good way to start.

As you said, you have not yet have an idea. How could you decide that you do not have enough capital and a backup to get started?
hey,even i am started my own company though with suppotr of our family business
Ashraf HZ
Ashraf HZ • Aug 8, 2008
sauravgoswami
hey,even i am started my own company though with suppotr of our family business
Thats great! Can you tell us more about it?

Any tips and suggestions you can give the rest of us? πŸ˜€
hey it all happend in past month,our business is growing and we needed a helping hand so i had to step in,well i havent started yet,m in training phase but my immediate assignment is to set-up an independent office and open an embedded company within 2 years,i will definately share my experience,currrently i muself is in learning phase
Kaustubh Katdare
Kaustubh Katdare • Aug 8, 2008
sauravgoswami
hey it all happend in past month,our business is growing and we needed a helping hand so i had to step in,well i havent started yet,m in training phase but my immediate assignment is to set-up an independent office and open an embedded company within 2 years,i will definately share my experience,currrently i muself is in learning phase
This is supercool! I hope you'll keep us updated about your learning & experiences.

We'd like to hear your story πŸ˜€
Ashraf HZ
Ashraf HZ • Aug 8, 2008
Embedded company? Awesome πŸ˜€ best of luck bro!
mahul
mahul • Aug 8, 2008
Well I want to start my own venture as well. I am currently developing a low cost IC tester using a PC interface. Hopefully it can be priced far lower than current market rates. If this comes up fine, I might sell the design or do something about it. But its really too premature to actually comment on its success.
Ashraf HZ
Ashraf HZ • Aug 8, 2008
mahul, would you like to develop your product under the name of Crazy Engineers? πŸ˜‰
mahul
mahul • Aug 8, 2008
Sure, why not!!

However ash, its too early to predict the project's success, though I'm optimistic.
Kaustubh Katdare
Kaustubh Katdare • Aug 8, 2008
Of course. Mahul, being a CEan you get a wide access to engineers on CE. By the time you come up with your product, we'll be like DAMN SO BIG!

CE can help you a lot πŸ˜€
mahul
mahul • Aug 8, 2008
Thanks to everyone on CE. And thanks to biggie for creating CE in the first place. I had always planned to launch my product with CE's help cause I hardly know people from the industry.
all the best , mahul if you want we can further modify your IC tester and add some new testing features meeting some norms,wat u say guys
Ashraf HZ
Ashraf HZ • Aug 9, 2008
Awesome stuff.

Biggie, Crazy Engineers can potentially be an "incubator" for engineering upstarts, just like Idea Lab.

Idealab

πŸ˜€

We could liaise with governments on technopreneur funding and all that.

Our first one will be Mahul!
Kaustubh Katdare
Kaustubh Katdare • Aug 9, 2008
Yep.

Possibilities here on CE are limitless. Think of CE as a way to market CEans products/services etc. We reach directly to thousands of engineers across the globe 😁
vineesh1
vineesh1 • Aug 9, 2008
So here goes my journey - not started off completely yet, but its fun!

Joined Electrical engg (power) at iitd in 2k4 thinking I'd be close to electronics (Which is electrical here 4 sm strange reason) but hell I was wrong and profs told me so too.
Wrote chemistry course for jee at the end of first year, but jee syllabus changed the following year (no beginner's luck here πŸ˜” )

End of 2nd yr wrote another book NTSE Mental ability in 30 days for class 8 students (this time was quick with ntse shifting from 10th to 8th). Book got published, but well... it's like everything is in the hands of the publishers.

Decided to be publisher some day so that I could get to keep all the profits that my book would earn.

3rd yr - internship time - got lucky with an intern in foren land with a foren company in IT (UBS Prime Services at Hong Kong) and then got a pre-placement offer too but decided that I dont want to fix bugs for another moment! But yea my boss was fidaaa. 😁

Rejected that offer and dad stopped talking for about a month, coz had saved as much as my dad earns during 2.5 months of internship. Now had started expecting finance jobs (yea, elec -> fin, it happens smtimes in iit).

Got placed in Dec 2007 in a dream company. Got into RBS (Royal Bank of Scotland) at HK. Was ecstatic, when suddenly the will to be on my own started aching again.

Feb 2008 decided to spurn the offer. Got into a serious tiff with parents, but time and stubbornness convinced them that I am serious abt the decision.

May 2008 course gets over and form a team with friends with whom I have never worked before but somehow we all have this urge to chuck our jobs and do something radical.

Two days of brain storming after 12th May 2008 and we had this idea of an ebook reader - one of the many ideas that keep floating in my crapped up mind. But some research and we found too many ebook readers.

Then it was Taare Zameen Par... device. To help special students through interactive devices and then we realized everyone needs a notebook. So how about an electronic device which doubles up as a notebook as well as an ebook reader.

More about the device here.

And recently the team fell apart with one guy going back to his job. Another guys parents came down from Chandigarh and his brother fixed him up a fresh job at Mumbai (his earlier one was at Singapore) and then his parents took him to mumbai. Now he's with Webaroo at SINE. So that takes care of his entrepreneurial spirit (Webaroo is another startup well funded and running successfully).

Am back to square one with regards to the team, but quite well placed with regard to the idea and technology to a large extent. Prelim market research has been successful. Finding funding.

Hmm wat else? Ask me πŸ˜‰

Contact : vineesh1(at)gmail(dot)com
Ashraf HZ
Ashraf HZ • Aug 9, 2008
Great stuff, Vineesh. Hopefully Crazy Engineers can assist with your ideas πŸ˜€ I believe sauravgoswami is interested in embedded technology. Possible partnership there?

Wish you the best for your success!
vineesh1
vineesh1 • Aug 10, 2008
Hey Ash thanks a lot. Am hoping that CE turns my best friend! πŸ˜€

Will get in touch with souravgoswami. Hopefully things work out!
kedarjk
kedarjk • Aug 11, 2008
Hi Vineesh, of course you are great.
What happened to your idea of e book reader?
vineesh1
vineesh1 • Aug 11, 2008
Hi Kedarjk

Am just starting out and need all the assistance available to be able to get anywhere.

The ebook reader idea is more of like an electronic notebook, which probably shall eliminate paper. Primarily, reduce the weight of school bags and additionally enable paperless offices.

At the moment I am seeking incubation at the biz incubator unit of iitd to develop a prototype of this system and simultaneously trying to raise some seed capital.

May I know your area of expertise and what are you involved in?
niraj.kumar
niraj.kumar • Aug 28, 2008
Best of luck to all of you πŸ˜€ .
Mayur Pathak
Mayur Pathak • Aug 28, 2008
Time to contribute

I tried my hand at starting my own business too. It was when I was working with my previous organisation. We being an IT services provider, used to go behind scores of product companies for technical alliances. And some of the smaller product companies would also come behind us, hoping that we help them sell their solutions. I was serving the Insurance vertical and often interacted with such small/medium player who wanted us to push their products. This gave me an idea of starting a sales process outsourcing practice (We helping others by providing them quality leads and sales support). I spent 2-3 months conceptualizing the whole thing and prepared the plan. As a dedicated idiot, I took it to my own employer saying its a new business plan. Thankfully, being numskulls themselves, they rejected my plan. But I knew I had a hot idea and a unique way of doing it. So I started gearing my resources. I also managed to find some able shoulders who could have helped me. Using my contacts in the then current organisation, I even managed to convince two companies to look at outsourcing their lead generation to India (and me). However original plan required significant investment which, for some unavoidable reason, I couldn't muster. And hence I had to shift to Plan B. I decided to sell my lead to a small company who had a good and effective direct marketing team. (I deliberately avoided going to a small time voice BPO for the fear of losing my methodology and process.) I signed a contract as an external consultant and I garnered referral, training as well as management fees (in lieu of passing the customer). I helped them both to set up the sales process outsourcing practice. I became a free lance consultant! The process ran well for 6 months. However due to stupid confusions and illogical thinking by my partner, I couldn't continue with them. Not thinking about business continuity cost me dearly and my dab at entrepreneurship came to an abrupt halt. πŸ˜’

This is my story. Your feedback is awaited. I'm still dabbling with the idea and if there are CEans who wish to explore this opportunity with me, I'm open for discussions. 😎

[I have deliberately avoided paragraphs]
anuragh27crony
anuragh27crony • Aug 28, 2008
well mayur...that was great story πŸ˜€...with tragic ending .... but i wonder who is the fellow CE'an who can dare to have alliance with your Hot Idea......πŸ˜‰

PS: Be Aware of Bankrupting your moneyπŸ˜‰

Srry juzz kiddin .....😁
Mayur Pathak
Mayur Pathak • Aug 28, 2008
Thanks Anuragh
anuragh27crony
but i wonder who is the fellow CE'an who can dare to have alliance with your Hot Idea......πŸ˜‰
Ah the idea? well I'm not asking help from CEans. Just that if some one else is thinking the same way, I'm ready to join hands πŸ˜€
anuragh27crony
anuragh27crony • Aug 28, 2008
oh!! i got it wrong ..then.....πŸ˜”
I hope there are numerous CE'ans who has different ideas.... 😎
All D Best --- is all i can say from my side 😁
Harshad Italiya
Harshad Italiya • Sep 13, 2008
I want to start one with my college friends in my field.... need some good engineers colleges...

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