Should I Start My Own Business with No Money?

Ans: Reskill or Upskill yourself first. Find a decent job and rebuild your career. Doing your own thing is more riskier than finding a job.

Ans: In whatever is your area of interest, talk to as many experts and consumers you can.. evaluate if your idea is solving a real problem that your potential consumers face. Fine tune your business idea. Then again talk to people if they are willing to pay you money to sort out the problem.. and how much. Concurrently, talk to experts on the cost of solving the problem/ offering the solution. Wherever you think the cost of solution is lesser than what people are willing to pay, is a good idea to work on prima facie. Then create a detailed feasibility report. Take help of some expert at this stage. Understand the investments and evaluate how you will need to fund the business initially. See if you can get some grants / seed funding. Typically seed funding is through friends and family . There are also a few govt schemes for entrepreneurs- see if you can get some grant/ financial assistance under these schemes. Put some of your own money and start implementing your idea in the mean while. Don’t be over optimistic in your planning. Work for the best but be prepared for the worst.

Ans: Evaluate what can be done on the land. Can you develop it for commercial purposes. Can a warehouse etc be made there. You can enter into a joint development agreement with some builder.

Ans: If you want to start your new venture in india , first you have to clear about the segment and area where you want to start. As you have mentioned that you started your professional life as a trader in MSME , its clear in which segment you have done this but its clear that you have some idea about business. As you have already loss of 50 Lacks so i suggest you that you should very clear about your new venture now, So First identify the area , segment , market size then only you can start your new journey. If you need any kind of support from me you can reach me any time.