Everyone wants to own a business or a small firm or something which is their own in professional environment.
Same thing I dreamt and started a venture with few of my friends; sadly that was unsuccessful. Here are the things I learnt and want to share:
1) Every business needs 180 days incubation period. So plan your savings accordingly. You cannot expect to earn anything from your business till that time. You have to use your own money.
2) Always have a backup plan for second earning.
3) Choose people whom you can trust and enjoy working with.
4) Choose a business domain in which you are expert so that you can give your output to the company.
5) Make your family understand what you are doing before you start else they will always be nagging from behind making it difficult for you to concentrate on your work.
6) Have faith in your team and work hard.
7) Be smart and keep looking for fresh opportunities in your business domain to expand and grab available opportunities.
I left the company because of 1st and 4th point. I was not financially prepared to survive 3 years without any earnings. But my partners were prepared and good thing is they are still running the company.
Now the company has grown multifold, when we started we were only 6 people in office and within 4 years the team has grown to 50. I am very happy with the progress. Sadly I could not be the part of it due to my personal issues. For the people who are wondering which company I was here is the link www.bioteknika.co.in.
So for everyone who want to venture in startup, above was my advice. Hope it helps.
Same thing I dreamt and started a venture with few of my friends; sadly that was unsuccessful. Here are the things I learnt and want to share:
1) Every business needs 180 days incubation period. So plan your savings accordingly. You cannot expect to earn anything from your business till that time. You have to use your own money.
2) Always have a backup plan for second earning.
3) Choose people whom you can trust and enjoy working with.
4) Choose a business domain in which you are expert so that you can give your output to the company.
5) Make your family understand what you are doing before you start else they will always be nagging from behind making it difficult for you to concentrate on your work.
6) Have faith in your team and work hard.
7) Be smart and keep looking for fresh opportunities in your business domain to expand and grab available opportunities.
I left the company because of 1st and 4th point. I was not financially prepared to survive 3 years without any earnings. But my partners were prepared and good thing is they are still running the company.
Now the company has grown multifold, when we started we were only 6 people in office and within 4 years the team has grown to 50. I am very happy with the progress. Sadly I could not be the part of it due to my personal issues. For the people who are wondering which company I was here is the link www.bioteknika.co.in.
So for everyone who want to venture in startup, above was my advice. Hope it helps.
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