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Chandu

Chandu Nair  |55 Answers  |Ask -

VC, Angel Investing, Entrepreneurship Expert - Answered on Nov 14, 2023

Chandu Nair advises entrepreneurs and enterprises about creating and building their business.
He has direct experience in angel, venture capital and strategic investor funding. Over the last three decades, he has made a name for himself in industry, consultancy, media and information services.
Nair is on the advisory boards of the Chennai-based private equity firm Fulcrum and the social impact fund, Menterra. He's an independent director on the board of India's first retail building products company, Shankara Building Products Limited.
He was the co-founder of Scope e-Knowledge Center, a pioneering knowledge process outsourcing company, as well as the co-founder of a business-to-business e-commerce venture, both of which he successfully exited.... more
Rizwan Question by Rizwan on Sep 07, 2023Translate
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Career

My age is 56 years. I have served 25 years experience pharma sales & marketing in gulf countries worked and managed for reputed companies (MNC) of the under different profiles . Die to age , i am not getting a suitable job now for more than a year.due to pandamic i got stuck here in India. I tried my best to with a pharma retail and distribution business its all in no loss no profit. I want to start something to earn a decent income. Kindly suggest suitable business idea with least investment. Thank you

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.
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Harsh

Harsh Bharwani  |55 Answers  |Ask -

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I worked almost for 24 years in sales & marketing deptt.of various leading multinationals like Glaxo,AkzoNobel,ICI Dulux,Lupin and national like Sintex Ind,Vinod Denim.I was star performer but never ever ventured into personal business.I have prepared number of projects for companies and MBA holder.Please advise which business I should start?
Ans: Starting a new business is a significant decision, and it should align with your skills, interests, and financial capabilities. Since you have extensive experience in sales and marketing and have prepared numerous projects for companies, you have a strong background that can be leveraged to your advantage. Here are some steps to help you decide which business to start:

Self-Assessment:

Reflect on your passions, interests, and hobbies. Starting a business in a field you are passionate about can be more fulfilling.
Consider your strengths and skills, including your sales and marketing expertise.
Evaluate your financial situation and determine your budget for starting a business.
Market Research:

Conduct market research to identify industries and niches that have growth potential and align with your expertise.
Look for gaps or unmet needs in the market that your skills and experience can address.
Identify Opportunities:

Consider opportunities in your local area or industries that are experiencing growth.
Explore the possibility of consulting or offering services based on your expertise in sales and marketing.
Business Plan:

Develop a detailed business plan that outlines your business idea, target market, competition, financial projections, and marketing strategy.
Assess the feasibility and potential profitability of your business idea.
Networking:

Leverage your professional network and industry contacts to explore potential partnerships or collaborations.
Seek advice from mentors or experienced entrepreneurs who can provide valuable insights.
Validate Your Idea:

Before fully committing, consider testing your business idea on a smaller scale or conducting a pilot project to validate demand.
Evaluate Risk Tolerance:

Assess your risk tolerance and consider how comfortable you are with the potential challenges and uncertainties of entrepreneurship.
Legal and Regulatory Considerations:

Research the legal and regulatory requirements for starting a business in your area, including licenses, permits, and taxes.
Start Small:

It's often advisable to start small and gradually scale your business as you gain experience and confidence.
Seek Professional Advice:

Consult with business advisors, accountants, and legal experts to ensure you have a solid foundation for your business.
Ultimately, the business you choose to start should align with your skills, interests, and goals. Given your background in sales and marketing, you may consider starting a consulting firm or offering marketing services to small businesses. Remember that entrepreneurship can be challenging, but with the right planning and dedication, it can also be a rewarding journey.
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Hello Sir, Don't disclose my name, I am working in boarding school from last 2 year's, last year principal changed and he is giving lot of work (harassing staff ) so around 50% of staff left the school. he is not appointing new staff also. hardly 2-3 staff he has appointed. In my department 3 staff ware there now I am alone, he is not appointing any one, so I am alone handling all the classes. he has increased the work also. So I decided to leave the work and I got the work also. I have sent my resignation letter through mail. In my appointment letter they have mentioned “During the probation period your service may be terminated by ONE MONTH NOTICE on “either side or Salary in lieu of notice” and The relieving date in all circumstances will not be earlier than the last day of the academic year unless the school terminates. if you are working on any assignment when you tender your resignation such assignment must be completed to the satisfaction of the school before your services will be released. As allocation of subject teaching is a duty allocated for the academic year the reliving date will not be earlier than the last date of the academic year in which the resignation is tender. The school does not encourage mid term session dis continuation of services. School academic year will ends in April. At the time of appointment they have taken all my original certificates. But when I sent my resignation with one month notice period they replied as per your request, you will be relived after the completion of required formalities and work as per service rules. But, yet they are not mentioning what are the work to complete. After one month notice period immediately I have to join my new job. otherwise i will miss my opportunity. orally simply they are extending my date. At present they have extended 15 days after my last day of my notice period. kindly guide me how to solve the problem, get back my originals and join my new job smoothly. Regards
Ans: Please consult a lawyer
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