Every individual has his/her own traits, personality, dreams, desire, background etc. We need to ask ourselves what do we want to be? If everybody wants to be an entrepreneur than who will do a job or vice versa?
15 years out of IIM calcutta, have company with turnover of 6 Crores exports of machinery nett profit around 50 L per year. If I had worked for 15 Years I would have a per year salary of 1 Cr gross. Take your pick. Mine would still be a job
RE:Job's Better
by Sanjay Bhakat on Feb 03, 2007 05:28 PM Permalink
Dear Mr. Ramesh, Good off your computation. You withdraw all the profit?? No, then what u do? You re-invest. Say after 2 months you don't pay attention to your business, your business starts suffers but the money is still in your bank, and then assume you die, your kids and wife can run it if not as efficient as you had. Now switch the chair, you in Morgan Stanley grossing 1 crore a year, you sleep for 2 months, no pay check reaches your home, you die after that, Your kids and wife are thrown out of school and home, Morgan Stanley will not employ your wife or kids - Now you take your pick. If people from IIM, Calcutta can think like this, God help us, THE INDIANS.
RE:RE:Job's Better
by Ramesh Nakhwa on Feb 05, 2007 10:35 AM Permalink
Dear Sanjay, What do you think I have been doing all these years. Reinvesting the profits and slogging my balls off. The point is if you cannot bridge the gap in 15 years then you need to rethink it out. Get it??? And any way what's this to do with Indians. People anywhere in the world will think similarly. Ramesh
it is not so black and white. Every businessman goes thru this question at times when u rforced to deal with the irrationality of the law of the land and tax policies of the likes of PC who never ran ran business himself and the labor laws lobbied by the leftists who only now how to take but never to give anything back to this country. If small businesses are not harrassed by teh government as much some of us would never have to question our decisions 20 years after.
I have a mster's from from IIT, KGP, studied and worked in the US and returned from US much before India was happening. i have my own business and would never trade places.
RE:RE:RE:Job's Better
by Sanjay Bhakat on Feb 03, 2007 09:07 PM Permalink
Dear Mr. Mohan, I understand your predicament and the frustration you must be going thru'. I have started my own business in Thane, Mumbai. Believe me, it sometimes kills me, you have to look for the employee, just when u thought things are okay, one of them resigns and search for another, getting business is not a problem, but handling the human elements is bit tasking and add to that the subjective rules and regulations. Inspite of that, I am batting and with confidence, with each passing day you realise a new way to handle what you coudn't yesterday. And I still remain convinced that doing business is better in the long term than a job.
BTW, I am a FCWA (Ind), CMA (Aus) and CPA(Aus). I am working in Gulf and doing business in India. Imagine my situation, all alone, and people the minute they know me based outside India ... you can imagine the problem how it gets magnified and the way to its solution diminishes. That doesn't means you let your dream slip out. I am continuing batting thast how u build your innings. And I am the only person in my Company to say on my CEO's face, don't give me Increment, let me show you new ways to make money, if u gain I gain, if u loose I loose as well. Even though I am working, its a business I am with my CEO. My only request to all the boarders, believe in yourself and keep batting. You will score runs. U can always reach me to dress your financials ... maybe something your accountant will never tell you at sanjay.businessindia@gmail.com cheers and God Bless.
Undoubtedly, "JOB or BUSINESS?" is a crucial question most ambitious people would ask themselves sometime or other in their life. Believe me, especially if you are already in a good job, the answers are not easy to come by. But a few other questions could give you the answer you want: * Do I love the area of business I'm getting into? * What if the initial returns are not good, will I continue to like that field of work/business? * Does my area of work /business have the potential to generate revenue? Alternatively, do I have a plan that's innovative enough to be able to do it? * Is my business model "fundamentally innovative, morally compelling, and philosophically positive", as Bo Peabody (founder of Tripod.com and author of "Lucky or Smart?") puts it. BTW, that book is quite a good read. * Am I wiling to learn to be a leader, be persistent and consistent in my actions, be open to taking calculated risks, and be ready to constantly innovate? Ideally, your getting into a business should be a "reflective" action (after a lot of reflection) rather than as a "reflex" action based on your dislike for your existing job. Consult people who are SUCCESSFUL both as entrepreneurs and as employees to get their side of the story of what makes them tick. This could give you a couple of indicators. Most of us Indians have entrepreneurship built in given our hardworking nature, sincerity, ability to take risks, qualities of leadership and innovation, etc. All we have to do is kindle the fire to wake up the "sleeping tiger" within!
I prefer entrepreneurship more than any job with any amount as my pay check. The fact is you are always serving some one who had the guts to start the enterprise in the first place. Its always exciting prospect to have your own start up if you have guts to take risk
No matter how high you are in job may be CEo/chairman/Director etc and no matter how big the comapny is may be fortune 100 a job is is slavery. Payroll system recongniged CEO and Clerk through employee id and not on his designation. In job today everyone is performing at its best so promotion/pay hike depends on how much you lick the A*s of you boss, how much politics you play, this thing are not paid in salary. Business and job are totally two different field and experiece of one does not apply to other. Business requires different mind set than job. Most people think that before entering into busiiness lets work for some year to get experience but this is wrong. Job experience does not get applied to businness. In job youu cannot increase the amount you want ot earn except the yearly pay hike done by company where as in Business you can expand to globe and in any field. Needless to say Business man enjoys lot of freedom in his work, can do anything, expand it anywhere, and can pass it on to his next generation. Own Business is Best anytime and anywhere
Majority of MBA schools in India develop your skills such as Ability to set goals, Sound judgement, Flexibility, Leadership skills to prepare the BABUS and SLAVES to work for their masters, to receive Big PAY CHECK, HOLIDAYS, PERKS, ON FIXED DATES.
Even if they become CEO of the comapany there is some REMOTE CONTROL. India deparately needs New MBA Schools (Or may be Old established schools change their attitude) to develop all balance qualities to make them Budding Enterpreneurs.
Tata, Birla, Bajaj and Dhirubhai Ambani, Jignesh Shah were not qualified MBA, but had Passion to work independatly with preservence for the Commitment to built better business and Courage to initiate the business by utilizing their Ability to set goals, Sound judgement, Flexibility, Leadership skills, nurturing innovation.
You may not be qualified MBA but if you are not one for taking the road well traveled you will be a successful enterpreneur, May be a Small enterprise if you are not much educated and will Big enterprise like Ambani Brothers, Narayan Muthy, Ajim Premji etc if are educated. Amin Paniwala
Experince in related field is a prerequisite before setting up a business. We think of well established companies like reliance, tatas, birlas etc which are growing day by day but there are sveral companies which were collapsed some even before establishment which is due to the lack of experience .
My son after his graduation B.E.computer science in the year 2001 without any experience started his software company with a will to make it a success.He started alone with a huge support,confidence from me and now he is having 51 employees and a turnover of one crore per annum and a vision to reach 1000crores within the next 10years and he is expanding his business in IT and also started a new tailoring unit with 30 machines and expecting to have his own brand of dress soon.What i am conveying is support your children's goal and do not force them to adopt your wish.Then sure success comes whatever may be theIR career.Best of luck.Regards.
RE:Starting a company
by MANISH MAKHIJA on Feb 03, 2007 01:53 PM Permalink
wot is the name of the company? sounds too impossible to be true.... sounds like the script of "GURU
RE:RE:Starting a company
by Raviraj on Feb 03, 2007 02:35 PM Permalink
remember..guru is not a script.. it's a real story...n that's what is a difference between an employed and a enterpreneur...employed ppl are non believers..they don't believe in themself and rush up to what their bosses ask for...n not jst guru their are number of other similar stories of success which non believers like u wud never accept.....keep ur spirits up..if u wanna be a ENTERPRENEUR......
RE:Starting a company
by mihir on Feb 01, 2007 02:46 PM Permalink
1,00,00,000 per year 8,50,000 per month (approx) 20% in fixed assest, so left 6,80,000 6,80,000 / 51 = 13500 (salary per employee). looks crazy. Is it IT for BPO. that too is doubtful. i have not included your son salary and tax. whole of this looks unreasonable. if you feel you are correct, please respond to mihirnair1980@rediffmail.com
RE:RE:Starting a company
by Sanjay Bhakat on Feb 03, 2007 04:12 PM Permalink
Dear Mr. Mihir, I can confirm that you are an average employee, who has lost the battle of life. Yaar, wherefrom you got the idea of dividing 6.8 lakhs by 51 employees?? Don't you get some trainees employee to type for 4k or 5k a month? Location of the company does not matters to you? And see the comments it followed, why u people cannot believe thats its doable, if you find it hard to believe then how u can dream and then realise it?? As of now, it appears to you it can never be until u change your attitude. By the way, does anybody of your immediate family is a teacher ... my guess says so. You can confirm at my email sanjay.businessindia@gmail.com
RE:Starting a company
by rahul on Feb 01, 2007 02:10 PM Permalink
may i know the name of the company you son has started.. i wish if you can ask your son to give some tips and knowledge share on starting your own company..thanks..
You should have emotional support and sound proffessional knowledge and do 24 hrs hard work.. Work hard if it is your co or you are an employee and you will get the rewards.. Your performance as the MD or propritor affects your Co. if you dont do work it will not work out.. Regards Mahesh nayathil http://www.maheshnbiomedical.com
Having a good job is like working for someone. You will be safe and are assured of money. But, the Entrepreneurship is the escence of life. Its risky, its demanding and in the end its fun .
