Sir, I am 45 age from beginning I am working as an employee but intrested in printing business so from last 4 years I am keep collection machinery seeing YouTube but till date I am not using i have already invested very hefty amount and even paying loan and also feared of losing job because from that job I am giving from fifty percent to my home and other part in paying loan amount can u pls help what shall I do ?

Ans: It sounds like you are facing a common challenge: the gap between watching and learning from YouTube videos and taking practical action to start a business. Here are some steps you can take to address your situation:

Assess Your Situation: First, take a step back and assess your financial situation and the impact of your actions. Understand the severity of the problem, how it's affecting your social and financial life, and your overall goals.
Set Clear Goals: Define specific and achievable business goals. What exactly do you want to achieve with the machinery you've purchased? Having clear objectives can help you stay focused.
Create a Business Plan: Develop a detailed business plan that outlines your business idea, target market, competition, revenue model, and financial projections. A well-thought-out plan can serve as a roadmap for your business.
Seek Professional Advice: Consider seeking advice from a financial advisor or business consultant. They can help you better manage your finances and develop a practical plan for your business.
Budget and Financial Management: Review your budget and financial situation to determine how to manage your loan and EMI payments. If necessary, explore options like debt consolidation, refinancing, or extending your loan term to ease your financial burden.
Time Management: You mentioned procrastination. Work on your time management skills to ensure you allocate time each day to work on your business. Create a schedule, set daily tasks, and stick to them.
Accountability: Share your goals and progress with someone who can hold you accountable, like a friend, family member, or a business mentor. Regular check-ins can help keep you on track.
Start Small: Rather than trying to do everything at once, break down your business plans into smaller, manageable steps. Start with a small-scale project to build your confidence and experience.
Learn with a Purpose: Continue to watch educational YouTube videos, but do so with a purpose. Apply what you learn immediately to your business. Don't get caught in a cycle of just consuming content without taking action.
Mindset Shift: Reflect on your motivations and identify any mental barriers that may be holding you back. Sometimes, fear or self-doubt can paralyze us. Working on your mindset and self-confidence can be crucial.
Networking: Connect with people in your industry or niche. Join relevant online forums, attend networking events, and build relationships with potential customers, partners, and mentors.
Adaptability: Be prepared to adapt your business plans as you gain more experience and feedback. Flexibility is essential for success in entrepreneurship.
Stay Persistent: Building a successful business takes time and effort. It's normal to encounter setbacks and challenges. The key is to stay persistent and keep moving forward.
Remember that taking action is the most crucial step. You may not have all the answers, but by starting and learning along the way, you can make progress and work towards achieving your business goals. It's essential to be patient with yourself and seek support when needed.

Ans: Unfortunately, many people get caught in the debt trap and there is no easy way out. You should not take any personal or home loans till the business is settled. For now, please settle all our loans or try and get a restructuring of loans done, and start afresh.

Ans: Try and see if you can get any moratorium on the loan repayment from the lender.

If this works you get some time to focus and improve your earnings.

Port the loan to another agency if the ROI is higher.

Last option would be sell any unutilized real estate property or other asset to repay the loan.

Maybe you continue to handle business and your spouse decides to take up a job or you both take up jobs till the loan is repaid.

Loan repayment should be the topmost priority of your family.