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Chandu

Chandu Nair  |65 Answers  |Ask -

VC, Angel Investing, Entrepreneurship Expert - Answered on Nov 27, 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
Asked by Anonymous - Nov 23, 2023Hindi
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Dear Mr. Chandu I started a small cafe before I was working in hotel industry. But cafe is not making money we complete one year and only lost. Should I continue or close it. Area is new and in growing stage. Please suggest.

Ans: This is always a tough one to answer as I am operating blind on almost every aspect - of the business, the location, competition, your background, financial capability and mindset. If you are burning much more money than you are generating and you are unable to put in more, plus it is putting stress on you personally too including the family, it may be time to consider closing it down. Pl also consider the opportunity cost too. If you were working, what kind of salary would you be making and how much time would it take for the current business to come close to it?
This would help you arrive at a decision
Career
Chandu

Chandu Nair  |65 Answers  |Ask -

VC, Angel Investing, Entrepreneurship Expert - Answered on Nov 27, 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
Asked by Anonymous - Nov 23, 2023Hindi
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Career

Dear Mr. Chandu I started a small cafe before I was working in hotel industry. But cafe is not making money we complete one year and only lost. Should I continue or close it. Area is new and in growing stage. Please suggest.

Ans: This is always a tough one to answer as I am operating blind on almost every aspect - of the business, the location, competition, your background, financial capability and mindset. If you are burning much more money than you are generating and you are unable to put in more, plus it is putting stress on you personally too including the family, it may be time to consider closing it down. Pl also consider the opportunity cost too. If you were working, what kind of salary would you be making and how much time would it take for the current business to come close to it?
This would help you arrive at a decision
Career

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Harsh

Harsh Bharwani  |80 Answers  |Ask -

Entrepreneurship Expert - Answered on Dec 17, 2024

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Sir/madam My son is an MBA and wants to establish a cafe. Kindly guide. Regards
Ans: It's great to hear that your son is planning to open a cafe. With his MBA knowledge and entrepreneurial spirit, he has a strong foundation to build a successful venture. Here are some steps to guide him.

First,
He must decide on a unique concept for the cafe that will set it apart from others. Whether it is a cozy space for book lovers, a health-focused menu, or a modern cafe with a tech-friendly vibe, having a clear vision will attract the right customers. Additionally, researching the market to understand customer preferences, competition, and pricing trends is important to create a viable business plan.

Encourage him to prepare a detailed business plan that includes his vision, projected budget, marketing strategy, and operational plans. Choosing the right location with good visibility and foot traffic will be crucial to the cafe's success. He will also need to obtain the necessary licenses and permits, such as food safety approval and business registration, to operate legally.

Next,
Focus should be on creating a strong brand identity with a memorable name, logo, and interior design. Offering high-quality ingredients and a menu with a mix of unique and popular items will help build a loyal customer base. Excellent customer service and a welcoming atmosphere will further enhance the visitor experience.

And the last,
He should leverage MBA skills to manage finances effectively and use digital marketing and social media to promote the cafe. With proper planning and dedication, cafe can become a thriving business.

Wishing her all the best in this exciting journey!

..Read more

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