The population is increasing, the numbers of educated people in India is zooming but the Job market is shrinking. So what are the options for youth to-day . Starting your Own Business is certainly one of them. You work for yourself and you could also provide employment for others.
Businesses come in various shapes and sizes. Some have changed the world in the way we do things, and some have realised their dreams with a small business enterprise.
You might have seen big Billboards of OYO – the Hotel chain. But did you hear of the Founder – Ritesh Agarwal. He is one of the youngest entrepreneurs in India and already a billionaire. He launched his first start-up named Oravel Stays in 2012 at the age of 18 years. After a lot of research, he changed the name of his company to OYO in 2013. His company is now International, as he has Hotels in UAE, England, Singapore, and Malaysia. Ritesh never liked studies. He dropped out from school. He began OYO with 1 hotel now he has over 8500 hotels. OYO earns in excess of $ 400/- million.
There are many youngsters who don’t like studies. There are others, who love only certain subjects and pour their mind and heart into it. Bill Gates is one such example. He too dropped out of University. Today he is one of the richest men in the world. We all use his “Windows” on our Computers. Bill has recently resigned from Microsoft but his Social Entrepreneurship with his wife is phenomenal.
So what does it take to become an Entrepreneur / Business man? If you try these steps you should be well on our way to become a Business man. Always start small.
1. PRAY AND DISCERNMENT.
We may have lots of ideas and plans. But God knows what is best for us. Read from the Bible Jeremiah Chapter 29:11-13. So if you go to HIM with earnestness HE will help you discern what is best for you.
2. ORIGINAL IDEA
can change the way people work and think and do their business.
Alexander Graham Bell, invented the telephone in 1877. This revolutionized communication. Almost 100 years later – in 1973, Martin Cooper, made the first mobile telephone. Did it stop there? No, we then had the first Smartphone in 1992. But people really started using the Smart phone in 1995 when Rob Stothard / Getty popularised it.
What happened next?
“WhatsApp”came about. This was created in 2009 by computer programmers Brian Acton and Jan Koum – ex Yahoo employees! Koum came up with the name WhatsApp. Today the numbers have reached the moon and has virtually made E-Mail defunct. Whatsapp is free and it has the Video facility too. Is this going to stop there? Your guess is as good as mine.
3. SELF-CONFIDENCE.
Take the story of Kiran Majumdar Shaw. Her father wanted her to be a Brew Master like himself in the Beer business. So she studied that line. She soon found that women are not quite welcome in the Beer business. So she entered into the Enzyme business – (basically an essential ingredient for respitory medicines, digesting food, for nerves etc.- The beginnings of Bio Technology in India. Now she is into the statins business (good for cholesterol etc).
Today Kiran is considered the Founder of Bio-Technology in India. Yes started her Company “Biocon India” in 1978 in the garage of her rented house in Bengaluru with a seed capital of Rs. 10,000. Initially, she faced credibility challenges because of her youth, gender and her untested business model. But soon she managed to break all the barriers and continues to work wonders in the medical field by producing cheaper drugs for the people. Total self-confidence. Today she is a billionaire.
4. PASSIONATE
We all have heard of Norbert’s Fitness Centre in Goa. But do we know about the man who started it all and How? Norbert started as a part time Training instructor at Neomis Beauty Saloon in the backyard, while working fulltime in the Bank. Norbert enjoyed the part-time job more than his Bank job. After some 7 years Norbert, took the incredible decision – He chucked up his Bank job (which was very secure) and started Norbert Fitness Centre in 2008.
Today after 12 years Norbert has established Branches in all the Principal cities in Goa. Did he have teething problems. Off course he did. But when you are passionate about something and offer a good product you will always have Angel (Investors) to support you and God is with you.
5. RESEARCH
Whatever be your Passion to start a Business – you need to do your Home-work. Today in Goa, people thinking of starting Business have places to go to seek advise and financial assistance. One needs to think of location, staffing, business potential ,distribution, future plans etc.
The Goa Govt has two such wings :
EDC( Economic Development Corporation)
http://www.edc-goa.com/scheme_details.php?scheme_id=20
and
Start Up run by the IT Dept of the Government.
http://startupgoa.org/
These offices not only help you with Mentors but are also willing to help you with Financial assistance. The other Agencies with Central Government assistance are:
1. FIRE ( Forum for Innovation Incubation Research and Entrepreneurship )
https://www.fiire.org.in/contact.php
Their office is at Don Bosco Engineering College Margao
2. CIBA (Centre for Incubation & Business Acceleration)
https://ciba.org.in/
at Verna and Assagao (North Goa)
3. FIERCE (Fostering Innovation, Excellence & Resilience Culinary Entrepreneurship)
https://www.kamaxicollege.edu.in/fierce-kitchens-incubator-goa/
Verna Industrial Estate Goa.
6. FINANCES
When you do your research – you also study the possibilities of Funding. Mentors are a great help in this regard. Because besides Government assistance there are also Investors who are willing to help out – off course with a percentage for themselves.
Try and watch the series “Shark Tank” on YouTube. It will give you a pretty good picture of how well prepared you must be, to answer the questions of Investors. https://www.youtube.com/watch?v=t0P7AFdvIx0
CHIEF MINISTER’S ROJGAR YOJANA
Capital Assistance to Self Employed Scheme of Directorate of Industries, Trade & Commerce
https://www.goa.gov.in/wp-content/uploads/2017/11/6-CMRY-Scheme.pdf