The finest feature of this article is it being realistic. And all entreprenurs will have to keep these basic things in mind to move ahead. This article has helped me a lot at the RIGHT time since I am planning for a new venture.
Your points have been well put. We are facing these problems at every second but can we find out some solutions. I am into my own business of providing services to NBFC's, Banks & Telecom Co's since last 4 yrs and face these situations on a regular basis. would seek such suggestions from you on a regular basis.
These are just some of the challenges faced by a Entrepreneurs in india especially the banking aspect you getting rejected by the bank & your employee getting the loan.There are many tight situtations to wrigleout now and then
I was very much exited while i was reading this article and got regained my entire energy along with new additional energy to fight out the routine as well as abnormal problems while runing a Industry and dreaming to become a successful enterprenur.Thanks a lot Sir
The views posted acts as an eye opener for the so called begining entrepeneurs like me. Right now i am 28 and have started with my own firm with an Monthly transaction about 2 Lakh INR. Right now mine is a small firm where in the running expenditure is 50 K per months and , definitely i am looking for expansions in next couple of Months. The fact that we the "self employed" wont get the proper recognition is a fact. no body believes about our business plans and potential we generate. The other aspect , where in author highlights about the attitude of families. Evry prospect Inlaws look aut for the secured Inlaws is also true. Hmm,i being an 28 Yrs old n now its my turn to prove that, i can be a secured Son inlaw to my Inlaws in turn. :)
Yes Krishnaji, U have put real fact of struggling young mans like me,good keep it up,now looking forward to "how to overcome these problems?" please answer. Thanks & Reagrds.
RE:VERY NICE Article- REAL FACT of MY LIFE
by Himanshu Mody on Oct 21, 2006 08:57 AM Permalink
I wanted to comment on your query of 'how to overcome this problems' Here is how I have been doing it :
# No rules protecting employers: Well , I take this very literally , there are no rules to protect us.As the saying goes , Precaution is better then cure, be careful about who is recruited and always have a backup plan ready , your business should never depend on any particular individual. # Global competition : I see this more as an opportunity. Also if you create your own niche , you dont have to worry about what others are doing just concentrate on your business. #Changes around the globe It is more important to sense the change is going to happen or is happening, then you can take proper steps to mitigate risk. Sometimes it is wiser to make immediate loss rather then waiting before its too late. #Balance between projects and personnel This is a tough one, I am still learning to cope with this challenge. # Delayed payments You might have projects worth millions but you may go bankrupt before those millions come in.Well, after some experience you would know who is going to pay and who is not going to pay on time. Make your financial commitments accordingly.
