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Harsh

Harsh Bharwani  |78 Answers  |Ask -

Entrepreneurship Expert - Answered on Oct 19, 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
milind Question by milind on Jun 29, 2023Hindi
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Career

I am Having the experience of 20 + years in purchase /procurement but not getting good opportunities.

Ans: Update Your Resume: Ensure that your resume reflects your 20+ years of experience accurately. Highlight key achievements and responsibilities in your previous roles. Tailor your resume for each job application to match the specific requirements of the position.

Network: Leverage your professional network to find job opportunities. Connect with former colleagues, attend industry events, and use professional networking platforms like LinkedIn to stay in touch with peers and industry professionals.

Online Job Boards: Explore job search websites and platforms that specialize in procurement and purchasing roles. Websites like LinkedIn, Indeed, Glassdoor, and specific industry job boards can be valuable resources.

Recruitment Agencies: Consider working with recruitment agencies or headhunters who specialize in procurement and supply chain positions. They can help you find relevant job openings and provide valuable insights into the job market.

Skill Development: Stay updated with the latest trends and technologies in procurement. Continuous learning and skill development can make you more attractive to potential employers. Consider taking courses or certifications in areas relevant to your field.

Targeted Applications: Focus your efforts on job openings that closely match your skills and experience. Tailor your application to highlight how your background aligns with the specific requirements of the position.

Professional Associations: Join relevant professional associations in procurement and supply chain management. These organizations often provide access to job listings and networking opportunities.

Interview Preparation: Practice your interview skills to make a strong impression during interviews. Be prepared to discuss your experience, accomplishments, and how you can contribute to the success of the company.

Consider Contract or Freelance Work: Sometimes, interim contract or freelance opportunities can lead to full-time positions. Be open to short-term roles if they align with your career goals.

Stay Positive and Persistent: Job searching can be challenging, and rejection is a part of the process. Stay positive, maintain your confidence, and keep applying to positions that interest you.

It's important to remember that finding the right opportunity can take time, especially if you have specific preferences or requirements. Continue to build your network, stay updated in your field, and be persistent in your job search. Your extensive experience in procurement should be a valuable asset in the long run





Market Research: Conduct thorough market research to assess the demand for travel services in your target region. Consider factors like tourism trends, competition, and economic conditions.

Due Diligence: Carefully review the financial health and reputation of the agency you intend to franchise. Look at their track record, customer reviews, and industry standing to ensure they have a strong foundation.

Franchise Agreement: Examine the terms and conditions of the franchise agreement, including fees, royalties, and the level of support provided by the franchisor. Make sure you understand the contractual obligations and responsibilities.

Location: Assess the location of the agency and its proximity to potential customers. A strategic location can significantly impact your business's success.

Business Plan: Develop a comprehensive business plan that outlines your goals, target market, marketing strategies, and financial projections. This plan will serve as a roadmap for your business.
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Milind

Milind Vadjikar  |1147 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Apr 02, 2025

Milind

Milind Vadjikar  |1147 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Apr 02, 2025

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Money
Planning for retirement is crucial, yet many people delay making key financial decisions. With options such as workplace pensions, private pensions, and state pensions, how can individuals determine the best strategy to ensure a financially secure retirement while optimising tax benefits?
Ans: Hello;

Retirement is the one of the most important financial goal and the key is you won't get loan to meet that requirement.

Typically people neglect it in early part of their career and then get a rude shock when hardly 10-15 years are left for retirement and they can't meet target corpus amount despite heavy investments.

NPS is a great retirement product for every Indian.

In fact since it's costs are so low that you won't find people promoting it or advertising about it.

NPS is similar to workplace pension but is available for businessmen and self employed people too.

Except for a minimum 1000 per year in Tier 1 account there is no compulsion to invest and also their is no upper limit to investment. However you may automate your investment in NPS using D-remit feature.

Limited withdrawals are allowed subject to terms and limits.

You can change your fund manager if you are not satisfied with its performance and also you can have different fund managers for different asset classes.

EPS is a add-on to other sources of retirement income and can't be the the only source since the maximum pension amount is limited to Rs. 7500 per month.

Unit linked pension plans are like private pensions but are a poor and inefficient copy of NPS.

In India only Govt employees are eligible for state pension.

PPF/EPF are also avenues for building retirement corpus but interest on EPF contribution above Rs. 2.5 L in a financial year invokes tax and PPF has lower interest rate.

Best strategy to secure financially secure retirement is to begin with a small amount from your first salary and later stepping up with increased income.

Best wishes;

...Read more

Ramalingam

Ramalingam Kalirajan  |8176 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 02, 2025

Asked by Anonymous - Apr 02, 2025Hindi
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Money
Despite earning a decent salary,I often find myself living from one payday to the next, struggling to save. I don't have significant debts, yet my expenses seem to absorb my entire income. What practical steps can I take to break this cycle and start building financial stability?
Ans: Many people face the challenge of earning a decent salary yet struggling to save. If your expenses absorb your entire income, it’s time to take control of your finances with a structured approach. Here’s how you can break the cycle and start building financial stability.

1. Track and Analyse Your Expenses
Identify spending leaks by tracking all expenses for a month.

Use spending tracker apps or a simple notebook to record daily expenses.

Categorise expenses into essentials (rent, food, utilities) and non-essentials (shopping, entertainment, eating out).

Spot unnecessary expenditures and set limits on avoidable expenses.

2. Set a Realistic Budget
Follow the 50-30-20 rule:

50% for needs (housing, bills, groceries).

30% for wants (shopping, entertainment, travel).

20% for savings and investments.

If savings seem difficult, reverse budgeting may work better. Allocate savings first, then spend what remains.

Automate bill payments to avoid late fees and unnecessary penalties.

3. Build an Emergency Fund
Set aside at least 6 months’ worth of expenses in a liquid fund.

Use a separate savings account for emergency funds to avoid spending it impulsively.

Automate transfers to this fund to ensure consistency.

4. Prioritise Saving Over Spending
Start small with savings if your expenses are tight. Even Rs 1,000 per month creates a saving habit.

Use automatic deductions to ensure savings before spending.

Increase savings percentage whenever you get a salary hike or bonus.

5. Cut Down on Unnecessary Expenses
Identify subscriptions you don’t use (streaming services, gym memberships).

Reduce frequent dining out and start cooking at home.

Choose budget-friendly alternatives for entertainment, shopping, and travel.

Negotiate for lower bills on rent, internet, and insurance.

6. Start Investing Wisely
Keep money working for you through investments rather than letting it sit idle.

Consider mutual funds through SIPs to build wealth over time.

Avoid investment-cum-insurance policies. Instead, opt for a separate term insurance and investments.

Invest in a mix of debt and equity based on your risk appetite.

7. Avoid Lifestyle Inflation
Salary hikes should increase savings, not expenses.

Maintain your current lifestyle and direct additional income towards savings.

Differentiate between needs and wants before making big purchases.

8. Plan for Future Goals
Define short-term and long-term goals (buying a home, early retirement, travel).

Assign a dedicated investment for each goal.

Adjust spending habits to align with your bigger financial vision.

9. Monitor and Adjust Regularly
Review your budget every 3-6 months to adjust based on changes in income or expenses.

Keep track of financial progress and celebrate small wins to stay motivated.

If needed, seek guidance from a Certified Financial Planner (CFP) like us for a customised financial strategy.

Final Thoughts
Breaking the paycheck-to-paycheck cycle requires discipline and consistency. By tracking expenses, budgeting wisely, saving first, and investing smartly, you can achieve financial stability and long-term wealth creation. Taking small but steady steps will lead to financial freedom in the long run.

Best Regards,

K. Ramalingam, MBA, CFP
Chief Financial Planner

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

...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.

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