Descriptions:
In India, more than 90% of the people are employees. Only a very small percentage of people are entrepreneurs. What are the basic root causes for this?
First of all, our educational system.
Hi, I am Murali Krishna. I provide total maintenance solutions for electrical, mechanical, and civil works in manufacturing industries.
If you take our education system — it teaches us how to study well, how to get good marks, and once you get good marks, which company to join as an employee. Our education system is very strong in that area.
For example, if we take a doctor, he studies MBBS and becomes a surgeon. What does he do after that? He goes to a big hospital and works as an employee. He does not have the knowledge of how to operate a hospital or a clinic.
Similarly, if we take an engineering graduate, he is trained to work as an employee in a manufacturing setup. He does not have the business knowledge of how to set up a manufacturing unit.
Our education system does not teach us that. At least, when we go to experienced business owners and ask them how to do business, they tell us — “Why do you leave your job and come into business? Doing business is risky. It’s full of challenges. It’s difficult.” They demotivate us.
Why do they demotivate us? Because there is no readymade formula for doing business.
So, what’s the solution?
If you are going to start a business, you need a business plan. In that business plan, you should have at least four things in mind:
1. Sales: You must know what product you are going to sell.
2. Marketing: You need to know how to make others aware of your business.
3. Operations: You should plan how you will run the business daily, monthly, and yearly.
4. Finance: You must know how to manage money — inflow, outflow, daily and monthly needs, expenses, savings, and how to build capital for the next two years.
A simple thing is, if you start a business where the working capital is less, there are more chances of success.
Now you may think — where will I get this knowledge from?
You can attend relevant training classes or meet a business mentor for guidance.
If you don’t have money to spend, you can search on Google for data. Nowadays, even ChatGPT is available — through that, you can gain data and basic knowledge for these four areas.
Even if you do these basics correctly but still can’t find your business formula — don’t worry. I am here. I have helped more than 100 business owners find their own business formula. I will definitely help you too.
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