Question : Dear Sir,
I see you can advice honestly. I am a company secretary and working in adelhi based iron and steel company. I like to start a small business.I have a number of idea but not courage to trnslate them into reality. I like to publish news paper for children and also willing to start a small manufacturing unit like potato chips, detergent powder etc. In service sector I can provide ISO, Trade mark registration service, financial services like preparation of project report, incorporation of company and many more. But presently doing nothing except job. I donot like to do routine nature of work as I do today. I am full mind of confusion.
Will you guide me. Please suggest me.
By Harun Rashid on Sun 10-Feb-2008 03:11 PM
Answer: You cannot proceed boldly if you do not clear your confusion, just immediately. You see you have mentioned about so many areas of your interest. You just cannot all of them at a time. Select the one area that is of your most interest and you have mastery on it. you decide, set target, draw the mechanism of operations. Judge each of the points you have found to be answered at your planning level. Judge the value of these points by doing some critical analysis. Re-evaluate and re-formulate the plan by elaborating it further. Answer all the questions keeping target and your business objective in mind. Do the economic analysis and viability checking for each of them.
Does it sound feasible for you? Identify the strength, weakness, opportunities and threats to your plan. Draw and define the tools to overcome some worst case scenarios – as preventive tools for your business protection. You are a company secretary so I am not elaborating or emphasizing here on checking the legal affairs to your business entity. Does your evaluation, planning resulted in a feasible and positive outcome? If yes, you can start it.
Each of the businesses you see have their life cycle. Once you keep your initial business set to run well, move for further venture. Repeat the same questions and answer them clearly for the new venture. You will shine. Good luck. All of your ideas are good!