Showing posts with label Self-Employment. Show all posts
Showing posts with label Self-Employment. Show all posts

Friday, February 1, 2008

What is the right age to start a business?

Before get into the topic, let me check myself whether I'm the right person to talk about this. May be I'm, because I've started my first business in the age of 19. I've started a computer center, it was also focused on various other internet oriented services(I've planned to write brief article about my business experiences , so little introduction is enough for now.)Immediately after my under graduation. I've already mentioned, that was my first business, so needless to say its turned down a failure. So I think, I can talk about this topic.

What is the right age to start up a business? or Is age is the important factor while consider business start up? The answer may be vary person to person, environment to environment. Let we first analyze the pros and cons of starting a business in the young age and in the old age(In this post I used the term old age to represent the people who are all 35+ ).

Pros:

Young Age

Old Age

1

Eligible to take high risk.

Experience is handy.

2

No family commitments.

Corporate exposure.

3

Innovative ideas.

Matured thinking.

4

Lot of time to experiment

Corporate contacts to achieve things fast.

5

Aggressive to achieve

Patience to do things right.




Cons:

Young Age

Old Age

1

Lack of experience.

Family commitments.

2

Lack of finance.

Lack energy or passion to achieve high.

3

Un stabilized mentality.

Fear to take high risks.

4

Lack of hi-network contacts.

Time constrain.


By seeing this above table, one can easily understand that both the young age and old age have their own merits and demerits when it comes to business. Then what is the more important thing than the above listed item. The magical word is "Attitude". Yes, you have to have the positive attitude to achieve success in the business at any age. Positive attitude will gives you self confidence, sustain even when things go wrong, never tired of trying and so on...

Have positive attitude. Have a success in your business.

Friday, June 22, 2007

Is MBA's utilising their management skills in their work?

I'm not talking about MBA's from Intitutions like IIM,BITS PILANI and some other A+ institutions.My question is regarding MBA's from low profile colleges.The students from low profile colleges really having any aspirations regarding their career?

My answer for all these questions is,90% NO..

But why?

Because most of the MBA students really unaware what they are studying.They are failed to believe MBA is different from other tech courses..

My personal opinion is MBA's shouldn't be a employee,Unless otherwise they've some part to contribute in the org or else if they caught up with family situtation..

Most of my classmates want to be a entrepreneur,but they are complaining that money is the big problem..Yes I agree if you like to start business,you need some handful of money.But if you shoot this question to them,What's the business plan you've if I give you some $10,000? They dont have any answer..

So, I think money is not the problem,the are lacking in idea..

My request to fellow management students is, start your own business.Dont tell that you are not having enough money,if you've good plan there are lot of banks,financial firms are available to help you..

I'm eagerly expecting your comments and views...