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Ans: Dear anon, I don't have enough info to give you a menu card of business options within Rs 10 lakhs. There are several online business one can do from home - physical or digital products to services. Do some online research to find out options that interest you and have business potential. Talk to others in the field and get additional real work insights. All the best.

Ans: You have given too little information for me to help you. What preparatory work have you done so far? What is your background and connections in this line of business? Do you have co-founders/ team members with relevant skills and experience to manage different aspects of the business- tech, marketing, procurement etc? Are you looking to operate only in certain areas or only in certain types of jewellery?
As you can see, there is a need for more info to be able to guide you

Ans: What kind of investor are you looking for and in which type of business? E-commerce, app development are very broad terms and need specifics to understand the potential attractiveness of the idea. Plus you have given very little information about the background of the team and its track record. There are different types of investors with different risk appetite. Lots more info is required to give a considered answer

Ans: Dear Mr Anon, you have given me very little to go by to help you. One way is to go to a trusted friend who is already running a business and see if he is interested in taking your idea forward and actively participating in it. That can help de-risk you and also give you required support. I presume you have already done adequate on the ground research on your idea and validated it?

Ans: This requires deeper understanding of the nature of your business, its financial performance, the capital structure, the prospects of your industry, the differentiation that your business has vs competition, the quality of your team etc before one can consider an equity investment. I am not privy to such info. You may want to consult a financial advisor.

Ans: Dear Mr Sudhir,
See the answer posted to Sindu today. Let me copy paste here.
There are several opportunities but you need to focus on those which
1) are relevant to your/your daughter's experience, expertise,network, passion,
2) take into account finance available or that can be organised by you, plus
3) offer growing prospects.
There are several cross-border opportunities. I would request you to do a lot of research, secondary first, and then primary. That will help you understand which specific niche you might want to target. You will need to talk to others too to see if they are looking for such partners. You must demonstrate what you can offer such partners.
There are several such cross-border examples in Information tech/ software/ IT enabled services, in various forms of consulting, in bespoke fashion, and more. Pl start your research

Ans: An employee with a good track record in start-ups, now having a good idea with the mindset and passion of an entrepreneur and a proven ability to execute, can enthuse others to join him/her on their journey and also attract funding.

Ans: Nothing come easy, Anon ji. You must learn how to fish (how to become an entrepreneur) than be fed fish (get readymade business ideas). What works for one may not work for another. If you have money and want to work on tried and tested models, you could consider becoming a franchisee. Since you don't have money, nor do I have any idea of your experience or expertise, you would have to do some research and figure out what interests you AND is also a great opportunity. Work in that field first and gain experience and connections.

Ans: It may be a good idea to focus on completing your CA, that is a useful qualification to get a well-paying job; it also will come in handy if you decide to continue in your business or create a new path. At this juncture, it looks like you would like to gain greater exposure in new fields and not get stuck in a rut.

Ans: In the past too, I have suggested approaches to take with respect to identifying and validating business ideas to previous Rediff users. Kindly go through the same. Let me repeat it here.
There are several opportunities but you need to focus on those which
1) are relevant to your experience, expertise,network, passion,
2) take into account finance available or that can be organised by you, plus
3) offer growing prospects.
Re your idea in health/ healthtech, I would request you to do a lot of research, secondary first, and then primary. That will help you understand which specific niche you might want to target. There are several aspects to consider here. If you don't have relevant experience, expertise and contacts in this industry, it would be good to build that or co-opt co-founders with complementary skills. It may be useful to join an incubator.
Before that, it may be good to develop a better understanding of entrepreneurship and what it entails. You could do online courses or listen to seasoned, successful entrepreneurs online or talk to such people in the real world and even build a network of potential entrepreneurs. Remember, entrepreneurship is high risk and one needs to anticipate the risks, manage them and mitigate. It is a journey which can be rewarding too if one stays the course.

Ans: This question is better answered by an education consultant

Ans: I am sure you have a pretty good track record since you have managed to run a pre-school for 10 years. Ideally you should target friends, family and extended network with money and interest in this space as potential investors as they know you personally and professionally. Plus they can also help in other ways- getting you teachers, managing the local environment, popularising the school in your catchment areas, perhaps even come in as co-founder looking after specific activities. Pl also consult local CAs and financial consultants who can help organise debt financing.

Ans: Get someone to give you money/ funds that values your business at USD 1 billion!

Ans: Are you looking for psychological/ emotional support more than business or entrepreneurship advice?

Ans: All the best to your daughter for having such entrepreneurial ambitions. There are many niches available in this space of garments and fashion designing; it is also highly competitive and fast-changing. It requires more than just fashion design skills. . She may want to get more exposure to business and other facets. There are resources available - AIC-NIFTTEA an Apparel, Fashion and Textile Incubator that bridges the gap between Fashion, Technology and Sustainability for example. She may also want to get a mentor with relevant experience, connections and background in this industry to guide her. Financing too is a key issue which she needs to give thought to. Building a lifestyle business is one thing; creating a scalable successful enterprise is another matter altogether.

Ans: It is difficult to answer such generic questions. 99+% entrepreneurs/ start-ups don't/can't raise funding for various reasons. You may want to refine your idea/ business model by being part of a well-known incubator where you can get specific inputs plus mentoring too.

Ans: Dear Mr Dinesh,
It looks like you have been through a lot after getting into business on your own. Your children too are at a critical stage in life which requires funds for higher education in the next few years. The first question to ask yourself is - what is the priority in your life? Is it financial stability for the family esp for the kids? Or is it the pursuit of your business? The second question is - what is the current status of your household finances? Is there enough savings to manage the household, upcoming education expenses, other expenses (travel, medical etc)?
If you are shaky, it may be time for you to consider taking an assignment which offers you a fixed remuneration and also flexibility to work on your idea. You say you were in the field of IT security. Can you consider an assignment which might take 2-3 days per week managing and overseeing the IT security for a company which cannot afford a full-time professional?
You may also want to consider getting incubated in a good healthcare incubator in your city and also apply for a start-up funding grant from the government of India and/or local state government programmes.

Ans: Have you identified the products or services that you wish to import or export? Or the countries from/ to? You would want to create a business plan based on this.

It is important to have relevant experience so that you have an established network of suppliers, customers, bankers etc to support you.

All the best

Ans: I have no idea of your background in this exciting yet competitive space. Have you done any research on this area? That would be a good place to start. Thereafter, it might be a good idea to work with one of these companies and understand a lot more about what it takes to run a successful business in this sector. I am sure this will give you sufficient insight

Ans: Rohith,
I can't say anything based on what you have indicated. You need to give me some more information or background.

Ans: Hi Manish
There are several ways to get information. I am not clear what kind of survey you plan to do. There are free online tools that you can use to execute the survey. I presume you have the list of people /companies etc you want to contact. You can also use tools like WhatsApp, Twitter to do dipstick polls with people to get a quick idea on some key issues. Pl also talk to a good marketing professor or consultant on the approach(es) you can use as also to refine the methodology

Ans: There is no get rich quick formula in regular business or entrepreneurship, Chinna. That is not a Chinna Aasai (meaning small desire in Tamil). Any business is good provided one is clear about the type of customer segments you are serving with an offering they want /need and come back to you repeatedly as their preferred choice at a price which makes sense to you and them. There are several opportunities in India, from the traditional to new age. You just have to find your niche and excel at it. Good luck

Ans: This is always a tough one to answer as I am operating blind on almost every aspect - of the business, the location, competition, your background, financial capability and mindset. If you are burning much more money than you are generating and you are unable to put in more, plus it is putting stress on you personally too including the family, it may be time to consider closing it down. Pl also consider the opportunity cost too. If you were working, what kind of salary would you be making and how much time would it take for the current business to come close to it?
This would help you arrive at a decision

Ans: You have not given me any idea of your background or how you intend to finance this. There are several such coaching classes and companies already existing online and offline. Pl study the market thoroughly and understand what exactly it is that you offer which is compelling for which target segment, how large that segment is, and other details. Also study existing competition and how strong they are. Based on all this, you can come up with a plan. Best of luck.

Ans: I would request you to do a lot of research first, both secondary first, and primary. That will help you understand which specific niche you might want to target. There are several aspects to consider here. I am operating on the assumption that you already have relevant experience, expertise and contacts in this industry. Food processing is still nascent in India and studies suggest that it is likely to grow.

Ans: There are some who are able to identify a start-up idea during their studies. You have not been able to do that. I would suggest that you get into an area of the pharma/ healthcare industry that interests you, work there for a period of time (3-5 years at least), get a hang of how it works, what problems are there, how are they being tackled, gaps that you can identify etc. This experience will also help you build a network of contacts and add to your expertise.
Tap into your alumni network and see if there are start-up entrepreneurs who can act as your mentors.
Also plug into existing entrepreneur networks and associations so that you can find out how different people came up with ideas and converted them into businesses. There are several such bodies now across India.
All the best

Ans: Typical initial sources are family and friends, and depending on your credit worthiness, loans from banks and NBFCs. If the business/ offering is unique and differentiated and the team is solid, there are possibilities of angel investors / early stage funds who might consider it. There are also government grants and other startup schemes. Pl check if you qualify

Ans: This is a tough one to answer in brief but I am going to try

Each of these channels- B2B B2C D2C - require different kinds of skills. The customer segments too could be different, perhaps the products/ SKUs too. It is my belief that the founder himself should be a salesperson esp in the initial days(years!). The first key thing is to understand the buyer's key problems and how your product is better at solving it than others in the market including alternatives. While doing this, it is important to understand who exactly is your buyer- in B2B, the buyer may be a hotel or restaurant or an office etc. Which sort of B2B segment are you targeting, how are they currently buying, from who, why, what terms do they purchase, how long is the sales cycle time, typical order value, purchase frequency etc? When it comes to B2C, the game is quite different. Are you selling both offline and online? The methods can change.

It would be useful for you to get a co-founder who has deep sales and marketing experience in this sector or B2C online/ offline. Alternatively, get a consultant who can advise you on the phase wise approach to follow, what metrics to use to track effectiveness, the kind of spend required, and so on.

Pl also reach out to others in the D2C community and understand what is working/ not working for them, the kind of structure they have, the outsourced agencies they use.

It is a process of learning. It would be good for you to get a grasp of it; simultaneously, in order to save on time, energy and money, pl consider a co-founder and /or a suitable consultant to guide you through the process. The appropriate hires can be made as required.

Ans: Ashutosh
In my view, any meaningful professional experience is helpful in starting your own company. It would be better if you work in the same industry that you eventually want to be in on your own as that will give you the relevant experience, build hands-on expertise plus create your network. Use every opportunity to learn and improve yourself in every way. Develop a set of mentors/advisers/ well-meaning friends and associates.
All the best ????

Ans: It looks like you are going through a difficult time. I am sure you have the courage and strength to get through this.
This issue has multiple strands with inadequate information. People who have a second income usually do such things based on their areas of expertise/experience plus their network. Pl do some research before you make any decision.
1) a weekend business/ activity
2) freelance gigs
e.g., tuition, teaching English to working professionals, consulting etc.
I would be cautious about start-ups as it could entail taking on more monetary commitments.

Ans: A business requires many things to succeed. This is possibly one promotional campaign. Pl study existing clothing/ garments business models, online and offline, and come up with a more comprehensive plan

Ans: Let me repeat the answer I just gave to Rizwan today
I have suggested approaches to take with respect to identifying and validating business ideas to previous Rediff users. Kindly go through the same. There are several opportunities but you need to focus on those which
1) are relevant to your experience, expertise,network, passion,
2) take into account finance available or that can be organised by you, plus
3) offer growing prospects.
One option to look at would be to offer outsourced accounting and administration services to companies. There is competition no doubt, but if you have the requisite background and contacts, you could get a roster of 10-15 clients needing such services on a regular basis. Pl study this and other ideas further before you make a thoughtful decision.

Ans: Do you have the relevant expertise and experience plus credibility to be perceived as a Guru in this area? For which type of audience? Is this a pro bono endeavour? Do you want to do this on your own or as part of an existing community /association (e.g., CSAI/CSI)? It may make sense to start off with existing networks and communities and understand what is happening, how it is being addressed currently etc etc before you make your more

Ans: There are several ways to do it.
1) Online
2) Offline
In both
i) on your own
ii) being part of an existing education company
On your own
Formats
a) one on one
b) one on many
Infrastructure
1) at the student's house
2) in your house
3) having a tuition centre -full time place or part time
Subjects - one vs many (which?

Fees, payment terms, marketing etc need to be arrived at.
Study existing options, your target student(s)/ geography etc and finalise.

Ans: I have suggested approaches to take with respect to identifying and validating business ideas to previous Rediff users. Kindly go through the same. There are several opportunities but you need to focus on those which are
1) relevant to your experience, expertise,network, passion,
2) take into account finance available or that can be organised by you, plus
3) offer growing prospects.
Pharma and healthcare itself is such a growing industry India from manufacturing to diagnostics to sales and marketing to exports and more.

Ans: I feel you have let a fear of legal repercussions overtake common sense. Large multinational corporations and local companies are operating in several sectors while taking proper legal counsel and precautions in case of any eventuality. If this were the case, such companies (FAANG/MANGA) would never take off! Take proper legal advice on these issues.
Now whether such email marketing software of the sort you created has a market depends on the target audience, competition,differentiation of your software etc. That is for you to study in detail.

Ans: Mr Azad, you would like to have a side business to generate additional income. You have provided no idea of your skills/expertise/ experience nor of your financial situation (I am guessing that you don't have any surplus to invest in a business).

First and foremost, pl check if your current employer permits moonlighting or having another job even if it is freelance/ gig work. Many companies can take stringent action in this regard.
Second, what skills/expertise/ experience do you have which is distinct from your current job at TCIL? E.g., are you a good writer, or can draw or teach well or translate from one language to another, or cook etc etc. That will help you identify possible alternate income generating possibilities,
Third, how much free time do you have per day? On the weekends? And at what time? That will narrow down the list of ideas.
Fourth, what kind of other infrastructure, manpower support etc is required for the idea? Do you have the ability to get /pay for it? If you don't, you can only do those activities which rely on your time and expertise. You need to be able to give focused attention to it on a sustained business be it tuitions, writing, cooking, generating online content or whatever else you finally choose.
Fifth, do you have access to a set of customers/ buyers who want what you can offer and are willing to pay for it and can you easily reach them?
Once you have gone through these steps, you would have likely identified an idea that can potentially give you an alternate source of income.
Best of luck

Ans: Mr Perumal, appreciate your kind words. I notice that you have already launched operations in a few cities and have onboarded a few thousand consultant-drivers. It may be useful for you to get advisors/ mentors who have worked on similar concepts (Meru, Ola, Uber, Rapido, Porter, BluSmart to name a few); it might also help if they are located in the same city to enable in person meetings. I have not worked in this space and my ability to provide pointed and pertinent guidance will be limited. All the best

Ans: What are you bringing to the table? Is it money, some other expertise and business experience? Or is just an unvalidated business idea? My suggestion would be to first validate your idea on the ground before proceeding further. Getting co-founders- pl start going to such places where current and wannabe entrepreneurs congregate/ meet. It may be a good idea to check with Incubators in Agricultural Universities; there are several now. It is also a matter of luck to get an aligned co-founder!

Ans: Shantanu,
It is not clear what is the nature of the tender / order that you have got. Nor have you given any idea of your company and your background including financial. It may be useful to talk to a couple of financial advisors to determine the best course of action

Ans: The best sources in such professional services businesses are customers in my view. You may want to tweak/ change your payment terms such that money comes in regularly or even in advance. Depending on the type of consulting work you are doing, and your credit background, it is possible you may be eligible for certain loans from banks / NBFCs or CGTMSE loans (collateral free). My recommendation is to avoid loans as much as possible and focus on getting better paying clients who value your expertise.

Ans: What is your motivation and background for starting such a business? It is not clear. Need more information

Ans: First, assess your current situation overall - personal and professional and be sure that own business is the most viable/ sensible option.
Then, make a list of ideas that resonate strongly with you, refine it, do some initial validation and shortlist on the final 1/2 that are most appealing.
Figure out the finances required, personal (for the family) and for the business. Ensure that it will not create issues that can derail you.
Time now for more on the ground market research including prospective users/buyers, assessing competition/ alternatives, checking with suppliers, regulatory environment etc.
Make an initial business plan with key assumptions clearly spelt out and validated as much as possible. Also see if you want to have partners/ co-founders who share this vision and have complementary skills/ experience.
See if you can make an initial prototype of your offering (MVP minimum viable product) and again test it with your potential customers; iterate to see what changes are required including revenue models, go to market approaches etc.
Now is the time to formally register your business - single person company, LLP etc. Get professional expertise as required.
Revisit your Business plan and change as required.
Formally launch, test market, make changes and then go full steam ahead

All the best.

Ans: May it bear fruit for you. Best wishes.

Ans: All the best in your entrepreneur journey Himanshu. Making a product / set of products is one part of the journey. There is a lot more to be done before you can be considered investment-ready. Which customer segment(s) are you targeting and why, what is the missing gap in cosmetics that you are solving for, what key issues with current products do which customers have and how is your offering significantly better, initial customer feedback and reactions, your go to market strategy, revenue model, unit economics, key leadership team etc. If you have co-founders with complementary skills and experience, esp in this competitive space with a solid track record, that is a good start. It might also help being part of a relevant incubator to get access to industry connections, mentors, even better access to potential investors. All the best

Ans: Dear Anon,
Kudos to you for reviving your entrepreneurial dreams despite your two setbacks and financial loss.

I have no idea of your current financial and personal situation - married, with kids, extent of savings, if spouse is working etc. It would be good for you to ensure that you have savings which can take care of family needs for 1 year at least so that family worries don't derail you and take attention away.

Have you shortlisted any ideas and done an evaluation? Any preliminary validation done?

At this juncture, it would be a good idea to figure out what went wrong in your previous start-ups and why plus what corrective steps are required.

Have you also got the seed capital organised or is it possible to get it from savings and your family and friends?

It may be helpful to get a co-founder(s) with complementary skills/ expertise and experience and aligned in terms of vision and values.

These preparatory steps can help you in reigniting your start-up dreams!

All the best

Ans: That is a question for the Rediff Editorial team

Ans: Investment banking is a good place to get solid business ideas, access to funding and building a network including finding co-founders with complementary skills and experience. You may want to first validate your idea in food snacks and flesh out the contours of your idea first. I would recommend being part of a good business incubator and also find mentors who have a background in food /snacks business who are willing to guide you in this journey.

Ans: It depends on your risk appetite, time horizon, need for liquidity and mindset. Startup investing ideally requires a time horizon of 5+ years and building a portfolio of over 10+ companies in order to increase the probability of seeing returns. There are angel networks and online platforms each of whom have different eligibility criteria. One platform has cut its minimum ticket size to Rs 1 lakh per investment. It would be best for you to do your diligence before proceeding further.

Ans: Depends on the areas of your interest, expertise, experience, opportunity and funds you can get. So many options today. From bootstrapped home based businesses to significantly funded start-ups. Pl arrive at some criteria first for you to evaluate ideas and shortlist.