Why business does not come to us naturally

[renuka]

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As TB’s, we need to be smart & do what it takes tomake money with smart effort. Lets NOT get carried away by this “business isgreat “ idea & misguide our younger generation to mess up their lives !!!

Wow! You are totally misguiding the youths!

I dont know why but from what I have noted the old time TBs somehow always feel a government job is their Moksha!

There is no harm encouraging youths to venture out into business and planning their lives.

When you do things right...how can you mess up your life?

Then some person might say 'Oh its you horoscope and this planet is bad and that planet is bad..so do some Pariharam"

Wake up yaar..please at least give the right advise to your community.

 

[Jaykay767]

Hi Renuka,


Lets analyse this logically. As per many studies, almost99% of the businesses fail. In the first 2 yrs, 96% of them fail & in 5yrs, almost 99% fail. You can do a simple google search to confirm this.

Only 1% succeed & a few of them go onto becomemillion/billion $ companies.

With such low odds, it absolutely does NOT make sense tostart business unless one is from a rich family & has enough means to livevery well in life.

Even then, I would suggest to start business only if – onehas Excellent Aptitude, risk taking ability, Ability to be ice clam underimmense pressure, VC money, Great Ideas, Shrewd Mind + more importantly the entrepreneurshould be a Brilliant person.

PS: Have seen many many people fail in business afterleaving their secure MNC/private company Jobs with devastating consequences totheir lives, families, etc…

Cheers,

 

[Jaykay767]

many of the traditional business classes have started pushing their kids to education & MNC Jobs because they pay huge salaries from day 1. In Business, you never know when you will break even or make a profit, let alone reach the levels of MNC salary. Having said this, there is still a space for a few brilliant, rich, risk taking TBs to venture out - again via VC money !!

 

[renuka]

Hi Renuka,


Lets analyse this logically. As per many studies, almost99% of the businesses fail. In the first 2 yrs, 96% of them fail & in 5yrs, almost 99% fail. You can do a simple google search to confirm this.

Only 1% succeed & a few of them go onto becomemillion/billion $ companies.

With such low odds, it absolutely does NOT make sense tostart business unless one is from a rich family & has enough means to livevery well in life.

Even then, I would suggest to start business only if – onehas Excellent Aptitude, risk taking ability, Ability to be ice clam underimmense pressure, VC money, Great Ideas, Shrewd Mind + more importantly the entrepreneurshould be a Brilliant person.

PS: Have seen many many people fail in business afterleaving their secure MNC/private company Jobs with devastating consequences totheir lives, families, etc…

Cheers,

Then everyone should come here and learn about running business from the Chinese.

Even the smallest trader makes a good amount of money.

They are smart and hardworking and willing to take some risk and succeed.

BTW in business...those who fail mostly are those who wanted too much too soon.

One has to be patient and wait to see the results.

Running one's own business will generate some income right up till old age.

I know a TB doc here who is into his 80's year of age and still working at his own practice and also does volunteer work for the poor and needy.There is nothing stopping him from being hardworking even though all his kids are well settled in their life.

Some how JayKay..you still have the old mindset to get a secure government job.. only now that its get a secure job in an IT company.

If everyone thought like you..there would be no companies to employ anyone!

 

[ashwin_ash]

And here, the patient buys the insurance from the government or privately, and then scouts around for a doctor who will accept that insurance. Same case with specialists. The only change in recent times is, everybody should have some form of insurance same as in Singapore. It is all highly privatized and shrouded in secrecy.

 

[Jaykay767]

If TBs works in MNC's today, in 5 to 10 yrs, they can retire. Most of them will also rise up very fast & earn fat salaries. After that, they can invest the money & earn income on it. In their retirement, they can do some small business like freelance teaching, carnatic music, ec... Salary = Guaranteed fat income. Business = No guarantees, mostly loss

 

[renuka]

. Business = No guarantees, mostly loss

I guess then you do not know much about business and not willing to try hard enough.

BTW have you see even simple saree shops in India?

They have a running business..are you telling me everyone running their own business in India is going into losses?

Small time Saree shops even offer money changing facilities for USD in exchange for Rupees.

 

[Jaykay767]

Hi Renuka,

Running a business is not an end in itself. What everyoneneeds is money to live well & take care of their elders in the family.

How you earn money really does NOT matter as long as itis ethical & right. So to me, running a business does NOT make sense if youcan do this more easily working for someone else.

The reason I gave the stats is, because somehow theyounger generation has got into – lets do business because it sounds glamorous withoutthinking through the pitfalls.

As I said, if someone has a brilliant idea, backed bysolid VC’s, then go for it. It can become a success. Also even if the entrepreneurfails, the VC’s will bring in professional managers to make it a success. So yousuccess rate here is almost 90%

Cheers,

 

[Jaykay767]

Iguess then you do not know much about business and not willing to try hardenough.

BTW have you see even simple saree shops in India?

They have a running business..are you telling me everyone running their ownbusiness in India is going into losses?

Small time Saree shops even offer money changing facilities for USD in exchangefor Rupees.

Hi Renuka,

You have notseen the lives of these people. On the outside, it looks great, but they alllive very modest lives. They cannot even afford to buy the big cars, they don’teven get loans because they run a business.

Youngsters inMNC are buying a flat & big car on day 1 of their jobs at the age of 23/24right out of their Masters, MBA etc…

First off –what is our lives focus??? - religious activities, Vedic studies, charity, etc… Clearly running a business & showingoff to people that we are entrepreneurs is not our life goal ???

I mean whystruggle, when you can do this via MNCs.??

Cheers,

 

[krish44]

Hi Renuka,

You have notseen the lives of these people. On the outside, it looks great, but they alllive very modest lives. They cannot even afford to buy the big cars, they don’teven get loans because they run a business.

Youngsters inMNC are buying a flat & big car on day 1 of their jobs at the age of 23/24right out of their Masters, MBA etc…

First off –what is our lives focus??? - religious activities, Vedic studies, charity, etc… Clearly running a business & showingoff to people that we are entrepreneurs is not our life goal ???

I mean whystruggle, when you can do this via MNCs.??

Cheers,

you know jaykay ji you are painting a pretty picture of MNC life. they slog 12 hrs a day ,even get called on saturdays and also work from home also on demand. those on marketing side live out of suitcases away from home and poor quality of life. flat and big car they have is got on borrowed money and hypothecated to banks. when 2008 crash happened many got pink slips and big cars and flats they sold on discount unable to service them . some became medical cases. marriages broke up. so money making is not easy anywhere. to make a comparison with business is like oranges and apple being compared. they are two totally different concepts calling for different skills and acumen.

 

[renuka]

Hi Renuka,

You have notseen the lives of these people. On the outside, it looks great, but they alllive very modest lives. They cannot even afford to buy the big cars, they don’teven get loans because they run a business.

Youngsters inMNC are buying a flat & big car on day 1 of their jobs at the age of 23/24right out of their Masters, MBA etc…

First off –what is our lives focus??? - religious activities, Vedic studies, charity, etc… Clearly running a business & showingoff to people that we are entrepreneurs is not our life goal ???

I mean whystruggle, when you can do this via MNCs.??

Cheers,

Dear Jaykay,

So that means you measure success with the size of a car a person drives? LOL

What is wrong in leading a fairly modest life??

Some people might not want to drive big cars for personal reasons and not becos they cant afford it.No one runs their own business to show off..that is their job.

Showing off can be in anyone right from a beggar to a king..people find anything to show off.

BTW here banks give loans to business men ..all you need is to produce the Income Tax statements to them and they can gauge what is the yearly income and you get your loan based on that.

In fact here banks keep calling up those who run their own business to offer loans.

One of the best reasons to be self employed is you can always stand on your own feet.

One needs to set his/her goals right.

Even if one is employed by a company there is no guarantee that we wont be fired one day.

So in life there is always a risk in anything and also one can struggle any given time in life..after all Life is a Challenge Face it!

 

[krish44]

many of the traditional business classes have started pushing their kids to education & MNC Jobs because they pay huge salaries from day 1. In Business, you never know when you will break even or make a profit, let alone reach the levels of MNC salary. Having said this, there is still a space for a few brilliant, rich, risk taking TBs to venture out - again via VC money !!

you know jaykayji ,businessmen push duds who are not fit for business into govt and small private jobs. some educate them in good edu. institutions to hand over their business to them at later stage.job in MNCs is to only get experience at somebodys expense.I personally know one top industrialist in Tamilnadu who pushed his son into govt electronics company to get experience of all aspects of production . he made his son live in a barsathi[one room] and forced him to live on govt salary. Now he is a multimillionaire with his own company

 

[Jaykay767]

Hi Renuka - Itreally is a pretty picture in MNC's .

that's whypeople clamour to go to top schools & get into campus placements to thesebiggies !!. Their starting salariesitself are excellent.

Of course onehas to work hard whether it is a Job or Business.

See, inBusiness the pressure is multi-fold, people can take vacations, there are NObackups - if the entrepreneur is not well, the business stops, money stops, uend up with a loss. see, if you put the pros & cons across, u will see MNCsare the way to go.

At the sametime, I am not against doing business. As I said, only those with solidfinancial backing should venture into business & TBs can do really well ifthey apply themselves well here.

Cheers,

 

[Jaykay767]

Hi Renuka,I am not measuring the success by what cars people drive, just telling you from my experience that they cannot afford to buy a big one.In the event some people want to pursue business, one should not get into a small time business. These are inherently risky & depend on one person to be healthy & continue working all their lives. One should get into big business by working together with a VC firm, so they can earn a monthly salary, grow the business & continue to own a large portion of their company.Cheers,

 

[krish44]

Dear Jaykay,

So that means you measure success with the size of a car a person drives? LOL

What is wrong in leading a fairly modest life??

Some people might not want to drive big cars for personal reasons and not becos they cant afford it.No one runs their own business to show off..that is their job.

Showing off can be in anyone right from a beggar to a king..people find anything to show off.

BTW here banks give loans to business men ..all you need is to produce the Income Tax statements to them and they can gauge what is the yearly income and you get your loan based on that.

In fact here banks keep calling up those who run their own business to offer loans.

One of the best reasons to be self employed is you can always stand on your own feet.

One needs to set his/her goals right.

Even if one is employed by a company there is no guarantee that we wont be fired one day.

So in life there is always a risk in anything and also one can struggle any given time in life..after all Life is a Challenge Face it!

renuka ji
you have made life look very complicated .
making a living is very simple. making a lot of money is even easier. only you have to have sense of money. your skills and knowledge are only small components in money making exercise.
your credentials will fetch you money at low rate of interest. you have to do some paper management .agents will do the documentation for you. the trick is to get it at low interest rate with no security only with credentials.
secondly invest in anything with high rate of return with small turnaround time
employ jaykays of this world who are bright and want security and are averse to risk . that is better than educating them
you are enterprising. try medical transcription. there is a huge market . all you need is people who can read doctors prescriptions and hospital report and transcribe them . find a pharmacy graduate who is it savvy and a cheap desk top . you do not require much space and power .you are in business . you can collect in dollars instead of malysian currency

 

[Jaykay767]

Krish44 - the example you gave are exceptions. Most of the small & medium businesses fail, except for a few which rise to become biggies !!

 

[krish44]

Hi Renuka,I am not measuring the success by what cars people drive, just telling you from my experience that they cannot afford to buy a big one.In the event some people want to pursue business, one should not get into a small time business. These are inherently risky & depend on one person to be healthy & continue working all their lives. One should get into big business by working together with a VC firm, so they can earn a monthly salary, grow the business & continue to own a large portion of their company.Cheers,

objective of any business is making money. if you want big money think big . never do business with own money . sell your credentials if you have any for it . find someone with credentials to get money in case you do not have one. get money at small rtes from banks and use arbitrage to grow it fast in small time turn around business .if you working request old idle men to be head of your company. you will find many in ayodhya mandapam preferably brahmi n to give it respectability. engage some freshers to do the job at low wages. you will mint money

 

[krish44]

Krish44 - the example you gave are exceptions. Most of the small & medium businesses fail, except for a few which rise to become biggies !!

there is nothing called failure. you invest for returns . if returns keep coming ,continue . if it reduces below an extent sell and start something else. there is no sanctity in holding on to anything in this high inflation ,fast changing market

 

[renuka]

objective of any business is making money.. you will mint money

The objective of any job or business is to generate an income.

An income good enough to sustain a fairly comfortable life.

One should know one's own strengths and weakness and how much to aim for and how much not to aim for.

Having dreams of minting money can ruin business if one lets greed creep in.

Know how much risk to take and make sure the risk do not cause major losses.

Minor losses are seen in businesses from time to time..that is part of business even a plateau is seen at times.

One needs to take all this in a stride and plan out how to handle or prevent such situations.

For example when the price of petrol goes up here..the price of medication goes up too.

Here since we doctors have dispensing rights..we do not need to employ a pharmacist and and we have a dispensary in our own clinic itself.

Now when the price of medication goes up we can not right away raise prices for patients cos we might lose clientele ..that is the time we have to absorb some amount of the cost.

So there are periods where there is less profit but when people know you are not charging them more..clientele increases and that can make up for the transient less profit and by the new generated income one can buy more medication when companies offer tier system where discounts are given in tier system.

By the end of the year when we do our accounts we can see that they was an overall gain and profit that did not affect the business at all finally.Its like how malls have sales..less price but still make a good profit.

If one thinks of minting money..he/she raises the price right away and patients cease to come to clinic.

Its all about handling the situation.

 

[krish44]

The objective of any job or business is to generate an income.

An income good enough to sustain a fairly comfortable life.

One should know one's own strengths and weakness and how much to aim for and how much not to aim for.

Having dreams of minting money can ruin business if one lets greed creep in.

Know how much risk to take and make sure the risk do not cause major losses.

Minor losses are seen in businesses from time to time..that is part of business even a plateau is seen at times.

One needs to take all this in a stride and plan out how to handle or prevent such situations.

For example when the price of petrol goes up here..the price of medication goes up too.

Here since we doctors have dispensing rights..we do not need to employ a pharmacist and and we have a dispensary in our own clinic itself.

Now when the price of medication goes up we can not right away raise prices for patients cos we might lose clientele ..that is the time we have to absorb some amount of the cost.

So there are periods where there is less profit but when people know you are not charging them more..clientele increases and that can make up for the transient less profit and by the new generated income one can buy more medication when companies offer tier system where discounts are given in tier system.

By the end of the year when we do our accounts we can see that they was an overall gain and profit that did not affect the business at all finally.Its like how malls have sales..less price but still make a good profit.

If one thinks of minting money..he/she raises the price right away and patients cease to come to clinic.

Its all about handling the situation.

it is an interesting post
we have couple of south indian doctors here. they are GPs
their strategy they have consulting room in middle class area and give prescriptions only for a good fee
they have another consulting room with dispensing medicines also at poor working class neighbourhood nearby and treat the poor in large numbers to make a good profit with small margins
when a epidemic strikes like dengue etc, they work 15 to 20 hours a day.
with no specialisaion they are doing very well

 

[Jaykay767]

krish44 - one should NEVER do business in India with Bank's money. even if they don't ask for collaterals while giving money, if the business goes kaput, they can & will go after the assets of the entrepreneur. so one will lose everything. you should only do with VC's money clearly @ their own risk - with proper legal documentation !!. See, as much as the entrepreneurs need VCs, the VCs need entrepreneurs !! Never negotiate for less & be forced to start a business. There are dime a dozen jobs today, so work for someone, go on a vacation & have a pinacolada !! one should NEVER pressure oneself to start business, see visions of becoming a great entrepreneur - LOL !!

 

[vgane]

Hi Renuka,

Running a business is not an end in itself. What everyoneneeds is money to live well & take care of their elders in the family.

How you earn money really does NOT matter as long as itis ethical & right. So to me, running a business does NOT make sense if youcan do this more easily working for someone else.

The reason I gave the stats is, because somehow theyounger generation has got into – lets do business because it sounds glamorous withoutthinking through the pitfalls.

As I said, if someone has a brilliant idea, backed bysolid VC’s, then go for it. It can become a success. Also even if the entrepreneurfails, the VC’s will bring in professional managers to make it a success. So yousuccess rate here is almost 90%

Cheers,

Dear Jaykay,

Even in trading there is money to be made..It depends on your aptitude and risk aversion!

Look at companies like Myntra, Flipkart etc in the Ecommerce field where promoters almost started from scratch and build multi million dollar enterprises........

You need to have the knack...You cannot just go by trust..You have to be really money minded

How does a traditional Marwari businessman succeed..They count the profits on a daily basis..

P & L calculation is a daily chore for them..Not something like a yearly or quarterly exercise

Cash on hand has to grow daily..That is their motto

There is much money to be made in business

I think as far as failures are concerned, you have start small, go the full hog, put your best effort, learn from that and then grow

Failures are to be seen as stepping stones to success

 

[sarang]

But brahmins were good accountants. Rajaraja chola had brahmin accountants when he built the great brahadeeshwarar temple. Their accuracy and honesty were legendary. I believe inscriptions are available in support.

BTW why are you guys even surprised that business does not come naturally? When were TBs the business community? Surely it will come naturally to business communities.

 

[sarang]

Business or job - it is not black and white, there are several shades of grey.
A self employed toilet cleaner may get a few thousand here but another doing the same job in canada may get several fold. I have seen punjabi lady sweepers in heathrow airport wearing gold bangles and conspicuous jewelry all over.
Even small self employed businesses (with one or two staff) are also not risk free despite low investment. It is quite common to see two xerox/ stationery shops side by side, one always crowded and other languishing. Same is the case with small eateries. Business and earning potential is uneven and has some risk. Even sari and dress shops have to compete for business in a competitive environment, and many change hands or close down frequently.
A small to medium size business is an entirely different proposition; rules of the game, financing and realization are quite different; risks are also higher. A person known to me from a jewelry business family, set up an IT business banking on his qualifications, did not do well and reluctantly returned to his family business.

Some thirty five years ago, I knew a person in bangalore - he will Rs 100 to a vegetable vendor every day and will get back rs 105 in the evening, that is 5% interest per day. The vendor got money he needed without any collateral and perhaps doubled the money in a day. Satisfactory arrangement for both.

Rules are many, paths are many. As tks ji said - samanya dharma rules apply for any business.

 

[SANDHYAV]

It is my belief that artists are poor project managers to use time and cost managements techniques. they might be able to do technical detailing with respect to their art. you find many film and sport stars using professional managers for their career management. money making with ones talents requires a mindset which most do not have. many of these artists use their spouses for managing their career

thanks for quoting, i am in line with you, i prefer skill set to MIND SET especially if you are discussing ARTISTS and BUSINESS acumen. U just need to work in ARMY for few weeks to get the hang of some business skills. Some harsh experiences are shared i think by JAYKAY.

BIEN THREAD !