Home > Career > Question
Need Expert Advice?Our Gurus Can Help
Harsh

Harsh Bharwani  |64 Answers  |Ask -

Entrepreneurship Expert - Answered on Feb 17, 2023

Harsh Bharwani is a fourth generation entrepreneur.
As CEO and managing director, he leads the international business and employability initiatives at the computer networking institute, Jetking Infotrain Limited.
After graduating from Delhi University, Bharwani joined the family business in 2010 and set up operations in the US and Vietnam.
He has trained over three lakh students in employability, confidence and key life skills.... more
Asked by Anonymous - Feb 14, 2023Hindi
Listen
Career

For the new generation, the prospect of entrepreneurship is superior compared to a career as a salary earner. How do you see this issue?

Ans: Deciding whether to start a business or work as an employee can be a tough call. It really depends on what you want, your personal values and the level of risk you're comfortable with.

Entrepreneurship has its perks, like being your own boss and making your own schedule. You can also potentially earn more and have the satisfaction of creating something new. However, it can also be risky, with no guarantee of success, and can require a lot of work and effort.

On the other hand, being an employee has benefits like a steady paycheck, benefits, and opportunities for career advancement. However, it can also feel limiting and may not allow for as much personal or professional growth.

So, it really comes down to what you value most. Do you want the freedom and potential financial gain that comes with running your own business? Or, do you prefer the stability and security of a regular paycheck and benefits? It's important to think about what you want and what you're willing to risk to get it.
Career

You may like to see similar questions and answers below

Chocko

Chocko Valliappa  |475 Answers  |Ask -

Tech Entrepreneur, Educationist - Answered on Feb 26, 2024

Asked by Anonymous - Feb 09, 2024Hindi
Listen
Career
At 45 years old, I am the first in my family to graduate. I am married with two supportive kids, a daughter and a son. My father, who was raised by his grandparents, struggled financially, and despite his genuine nature, he couldn't provide much for us. I started working after failing my 12th board exams, eventually completing my post-graduation while working part-time. The ITES sector brought financial success, allowing me to support my nieces and nephews through their education and marriages, even helping them purchase homes. I've stepped back from my siblings, except for one sister who has a mentally ill son; I've provided them a home built on land in my mother's name, though her will is uncertain. Now, I'm considering leaving work to pursue my own business ventures but not due to dissatisfaction and negative office experiences. Always having an attitude to go along well with anyone and support each others. With my loans set to be paid off within a year, I'll have no financial obligations except for my children's education (zero savings precisely). I plan to accumulate at least 30 lakhs of cash savings in the next four years, without touching my provident fund which is being accumulated around 50+ and my gratuity - as my base salary is above 1 lakh now. My lifestyle is modest, with a decent 3-bedroom house, a second-hand SUV, and some cash reserves. My wife and mother each possess 25 sovereigns of gold, though my mother isn't entirely supportive. Aside from essential purchases, I buy clothes and accessories during sales. I'm seeking guidance on my next steps, as I sometimes feel anxious about not fulfilling my desire to start my own business. My question has elements of both mentally and financially so approaching you. Sincerely!
Ans: From what I read you have achieved a lot and have earned goodwill of your extended family. Please encourage your children to follow your family's example of a acquiring knowledge add gain success at work though a work ethic that appears to be your family's strong point. Given your current career use your strengths at work to grow even further and aspire to do well. Even though starting a business of your own may look exciting is not everyone's cup of tea, hence I would advise you to not jump into it without working out the full details.

..Read more

Ramalingam

Ramalingam Kalirajan  |7279 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jun 06, 2024

Listen
Money
Really after reading comments of yours on this qn "I am 48 years old I am planning to quit. I have 3 lands worth 85 lakhs, FD 15 lakhs, PF 60 lakhs, MF 50, 3 houses"...I think this generation should never ever think of getting retirement...He who takes a knife will die by the knife...such he who learns , who earns, will die by learning continuously earning continuously...funny but true
Ans: It sounds like you're reflecting on the challenges and expectations of retirement in the modern era. Indeed, the notion of retirement has evolved significantly, and for many people, the traditional idea of retiring at a set age and living off savings may seem increasingly out of reach or unappealing.

Here are a few points to consider about retirement and continuous engagement in work or learning:

Lifelong Learning and Adaptation: The rapid pace of technological and societal change means that staying engaged and continuously learning can be crucial for personal and professional growth. Many people find fulfillment in staying active intellectually and professionally.

Financial Security: The financial landscape has shifted, with many facing uncertainties related to pensions, savings, and healthcare costs. Ensuring a stable financial future often requires ongoing income or strategic financial planning.

Purpose and Fulfillment: For some, work provides a sense of purpose and identity. Retirement doesn’t necessarily mean stopping all productive activities; many people transition to new careers, volunteer work, or pursue hobbies and interests that keep them engaged and fulfilled.

Health and Longevity: Advances in healthcare have increased life expectancy, meaning that many people will spend more years in retirement than previous generations. This requires careful financial and lifestyle planning to maintain a good quality of life over a longer period.

Diverse Retirement Goals: Retirement is highly individual. Some may dream of leisure and travel, while others may prefer to start new ventures or continue working part-time. Flexibility in retirement planning can help accommodate diverse goals and lifestyles.

In summary, while the concept of retirement is changing, it doesn't mean that people can't retire; it just means that retirement might look different for each person. Balancing continuous learning and earning with rest and leisure is key to a fulfilling life at any stage.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

Latest Questions
Rajesh Kumar

Rajesh Kumar Singh  |15 Answers  |Ask -

IIT-JEE, GATE Expert - Answered on Dec 18, 2024

Harsh

Harsh Bharwani  |64 Answers  |Ask -

Entrepreneurship Expert - Answered on Dec 18, 2024

Listen
Career
I'm a Chartered accountant .. recently qualified .I'm interested in start up company with intention of book keeping services .software .pls give me some piece of idea regarding how to begin my book keeping services software ..
Ans: Starting a bookkeeping service powered by your own software is a great way to leverage your skills as a recently qualified chartered accountant. With the growing demand for streamlined accounting solutions, your idea has a lot of potentials. Here's how you can get started effectively:

Understand the market and identify your niche:- You have to start by researching the market to identify the specific needs of small & medium-sized businesses. Because many businesses are struggling with manual accounting or find existing software too complex or expensive. Focus on building a solution that is simple, affordable and addresses their pain points, such as automating invoices, tracking expenses and generating tax reports.

Develop or customize software:- Decide whether to build your software from scratch with the help of a development team or customize an existing platform like QuickBooks or Zoho Books to create a unique product. But make sure your software includes essential features like cloud access, real-time financial tracking, automated reminders, payroll management, and integration with banking systems. Prioritize an intuitive interface so that even non-accountants can use it easily.

Provide flexible and scalable solutions:- Start structuring your services with flexible pricing models, such as tiered subscription plans based on business size and its features. With Offers add-ons such as tax filing assistance, compliance consulting, or financial planning to differentiate yourself from other competitors. A free trial or discounted onboarding package can attract new customers and build trust to convert the audience into customers.

Build a strong brand and online presence:- Start your service as a reliable, tech-enabled bookkeeping solution by emphasizing your credentials as a chartered accountant. You Have to create a professional website with client testimonials, feature highlights and demo videos of your software. Use social media and content marketing to showcase the benefits of your services, such as cost savings, error reduction compliance accuracy and many more. Networking with local businesses and participating in professional forums can also help increase your visibility in the market.

Stay up to date and constantly improve:- Accounting laws and technology are evolving quickly, so keep your software updated with new versions to meet regulatory requirements after getting client feedback. Introduce AI-powered features like predictive analytics or fraud detection to stay ahead of competitors. Engage with your clients regularly to understand their challenges and improve your offerings.

By combining your expertise in accounting with cutting-edge technology, you can create a reliable and scalable bookkeeping solution that not only supports businesses but also establishes you as a leader in this field. Start small, focus on client needs, and let your service grow along with your reputation.

...Read more

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

Close  

You haven't logged in yet. To ask a question, Please Log in below
Login

A verification OTP will be sent to this
Mobile Number / Email

Enter OTP
A 6 digit code has been sent to

Resend OTP in120seconds

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus
Sign up

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

Enter OTP
A 6 digit code has been sent to Mobile

Resend OTP in120seconds

x