Hi Brahan, You have asked very good queries. I will answer them the best i can. Are you also planning to open a textile related business?
Thanks for the wishes. Very much treasured.. Thanks for your wishes Sudha. Surely will document everything. The lessons learnt are too valuable to keep them to myself. Thanks you Aparna Thanks for the Wishes Dharani. Wish you the best for your dreams Sushma, Thank you for the wishes. We stay near Miyapur. Will soon be moving to Bangalore. Where do you stay? Thanks for the wishes Soumedh
Deciding on the venture Many people have dreams to start their own venture, be it retail business or a small cottage industry. First step towards this is to decide what venture to start with. Some do's and dont's: 1. Dont decide to start a venture on a whim or because someone made it big in that line. Such things will hold our attention for a very short time. Start something which you are genuinely interested to do so. Let an idea incubate and mature. Some ideas which might seem very attractive at one time may not seem so good after few months. 2. Do your homework: Once you decide on which business you want to start, prepare yourself for a ton of homework. This would be the most tedious but very helpful task in the long run. Research on raw material, supply, demand, pricing, demand and supply variations based on seasons, fads etc. This itself would take few months to get it right. 3. Start small: If you are new to the line of business, it is always advised to start small because more often than not the first ventures dont turn out good. Even if you have huge capital, just invest a part of it in the initial days. This is a personal experience and very valuable lesson learnt 4. Dont be disheartened with initial failures: In business, especially if you are new, there are bound to be some setbacks. Dont let few setbacks discourage you from your dream. Learn from them and avoid them. Make sure you write them down somewhere because given the amount of time the new business consumes, you might overlook these lessons. Make a checklist, if you can. Hope you find this interesting. More in next posts.
