Saturday, May 1, 2010
Everyone who has ever aspired to earn money, would at some point have thought of starting up a business…….if not for the drive of being successful then at least for the want of being your own boss…….and it only helps to read about high school dropouts who come up with a bright idea and reinvent the way the world is maneuvered.
From past experience……..not of having my business…..but seeing tons of people operating it from close quarters…..here’s the few things I have understood of how the whole design works…..most of it you may have already heard and known so its just a checklist that you can look up if you intend to be the person making a difference sometime soon.
To get the start up phase right, this is what you need to do-
Dimaag ki batti jalaao- First things first, you need a brainstorm idea…..that is, what you want to do…..if its unique that’s great…….but let it not be sooo unique ki its application finds few or no real takers….then again not something itnaaa ordinary ki people don’t notice it at all.
Market survey- Next up, find out whether you can get people to care about what you make……and people here does not mean friends and family……chances are they look forward to your venture more in the hope of getting free samples than anything else, so its more of cost than benefit. However if your friends have great contacts, then you can rule out what I just said.
Finance- Most mostttt important…..you need to figure out where the money is to come from…...if you have your own resources, nothing like it…….. if you don’t, then don’t get novel ideas of loans, venture capital or seed finance……they are just an eyewash and take up more from you than actually support you…..leaving behind just about a hand to mouth percentage of what you truly deserve…..so best option is…..I know it sounds bad but…..forget the ego and beg your dad! If it makes you feel better, think about how proud he will be when you succeed!
Name- ‘What’s in a name?’……..that quote ought to have died almost immediately after Shakespeare’s demise…….Pick a great name……something jhataak that stays in the mind……and puhleeezzz something original!!!!
Ask the expert- I’m not saying this for my benefit (yeah a little maybe), but its actually the truth…….if there have been people into this field for a good 30 to 40 years and have survived, then surely they are doing more than just paapad sukhaana……..ask them how to go about the legal aspects and save yourself unnecessary trouble……and here’s a tip…..if you make a great presentation, they might even give you a free consultation in the hope of roping you in as a client……if their word works for you, come back….if it doesn’t, chuck them and move on!
Don’t hire women…. initially- Ever seen immigration lines at airports? The one with the woman at the counter alwayyys moves the slowest!…..not a generalization but just a majority study that thinks women give more attention to detail and are more organized……this is a good thing but unfortunately you don’t need much of that in the initial phase of your plan……hate to say this……but women can’t work overtime, need double protection and are a little slow (You already will have enough problems so why give way to these new ones?)
Get your accounts sorted- Once you are set and on course, keep track of where the money goes and how much comes in…..most people don’t pay much attention to this…..biggg mistake……you need to know whether your entire exercise is bearing any fruits at all…..the idea is not to do business…the idea is to earn profits!
Last up, Be patient- You can’t have overnight success…….a lot of time and energy is required……..plenty from others and more than much more from you……you might have unprecedented costs like insurance and police ka haftaa…..not everything can be planned…..so a little off track is ok.
All said and done, in the end…… rules or no rules……honest hard work always gets rewarded!.......unless you are a bit unlucky maybe.