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Chandu Nair  |55 Answers  |Ask -

VC, Angel Investing, Entrepreneurship Expert - Answered on Nov 02, 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
azad Question by azad on Oct 11, 2023Hindi

for past 19 years i am working in a manufacturing company namely Tinplate company of india limited jamshedpur as mechanical engineer i want to do some buniness so that i have some monetory stability and extra income as you know today no one job is fixed forever pl suggest some small business for me so that after i loose my job i can sustain some income

Ans: Mr Azad, you would like to have a side business to generate additional income. You have provided no idea of your skills/expertise/ experience nor of your financial situation (I am guessing that you don't have any surplus to invest in a business).

First and foremost, pl check if your current employer permits moonlighting or having another job even if it is freelance/ gig work. Many companies can take stringent action in this regard.
Second, what skills/expertise/ experience do you have which is distinct from your current job at TCIL? E.g., are you a good writer, or can draw or teach well or translate from one language to another, or cook etc etc. That will help you identify possible alternate income generating possibilities,
Third, how much free time do you have per day? On the weekends? And at what time? That will narrow down the list of ideas.
Fourth, what kind of other infrastructure, manpower support etc is required for the idea? Do you have the ability to get /pay for it? If you don't, you can only do those activities which rely on your time and expertise. You need to be able to give focused attention to it on a sustained business be it tuitions, writing, cooking, generating online content or whatever else you finally choose.
Fifth, do you have access to a set of customers/ buyers who want what you can offer and are willing to pay for it and can you easily reach them?
Once you have gone through these steps, you would have likely identified an idea that can potentially give you an alternate source of income.
Best of luck

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Ramalingam Kalirajan  |3916 Answers  |Ask -

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

Asked by Anonymous - Jun 02, 2024Hindi
I am a cabin crew in India. I am 28years old no savings yet. But loan of 3lakhs. Planning to clear all my loans in the next 8 months. After that all my earnings will be my savings. Also I am planning for some business. I am good at art work and cooking also I am a fashion designer. Please suggest me what business will be good for me..also I am completely alone noone to take care of me in future. And I have no backup. Whatever I have earned n I will earn infuture will be my only hope. Please suggest me how can I save also any business ideas.
Ans: Assessing Your Financial Situation
First, congratulations on your plan to clear your loans within the next 8 months. This shows a strong commitment to financial stability. With a clear focus on repaying your debt, you’re already on the right path.

Creating a Debt Repayment Plan
Prioritizing Loan Repayment
Prioritize paying off your Rs 3 lakh loan within the next 8 months. This means allocating a significant portion of your income towards this goal. Calculate the exact monthly payment needed to achieve this within your desired timeframe.

Budgeting Effectively
Create a detailed budget that outlines your income and expenses. Identify areas where you can cut back temporarily to ensure maximum loan repayment. This disciplined approach will accelerate your debt clearance.

Building an Emergency Fund
Importance of an Emergency Fund
Once your loan is cleared, the next step is to build an emergency fund. This fund should cover at least 6 months of living expenses. It provides a safety net in case of unforeseen circumstances, such as job loss or medical emergencies.

How to Save for an Emergency Fund
Set aside a fixed amount each month into a high-interest savings account until you reach your target. This fund should be easily accessible and separate from your regular savings.

Exploring Business Ideas
Given your skills in art, cooking, and fashion design, there are several business ideas that could be a good fit for you. Here are a few to consider:

Online Art Store
Use your artistic skills to create unique art pieces and sell them online. Platforms like Etsy or your own website can help you reach a wide audience.

Home-Based Bakery or Catering
If you enjoy cooking, consider starting a home-based bakery or catering service. You can begin with small orders for friends and family and gradually expand your customer base.

Fashion Design and Boutique
Leverage your fashion design skills to start a boutique. You can create custom designs and offer them through an online store or local market.

Creating a Business Plan
Market Research
Conduct market research to understand the demand for your products or services. Identify your target audience and competitors. This research will help you refine your business idea and develop a strong business plan.

Financial Planning for Business
Estimate the initial investment required for your business. This includes costs for materials, marketing, and other essentials. Plan how you will fund your business, whether through savings, loans, or other sources.

Saving and Investing for the Future
Systematic Investment Plan (SIP)
Once your emergency fund is in place, consider starting a SIP in mutual funds. SIPs allow you to invest a fixed amount regularly, which can grow significantly over time due to compounding.

Public Provident Fund (PPF)
PPF is a safe investment option with attractive interest rates and tax benefits. It’s suitable for long-term savings and helps build a secure financial future.

Recurring Deposits (RD)
RDs in banks allow you to save a fixed amount monthly with guaranteed returns. They are low-risk investments and help inculcate the habit of regular saving.

Diversifying Investments
Importance of Diversification
Diversification spreads your investments across different asset classes, reducing risk and enhancing returns. This approach ensures that poor performance in one asset class doesn’t significantly impact your overall portfolio.

Suggested Allocation
A balanced portfolio might include 50% in equity mutual funds for growth, 30% in debt mutual funds for stability, and 20% in fixed-income instruments like PPF or RD.

Regular Monitoring and Adjustment
Tracking Your Investments
Regularly monitor the performance of your investments to ensure they align with your financial goals. This helps in making informed decisions and necessary adjustments.

Rebalancing Your Portfolio
Rebalance your portfolio periodically to maintain the desired asset allocation. This involves selling over-performing assets and reinvesting in underperforming ones.

Financial Discipline
Consistent Saving and Investing
Consistency is key to successful saving and investing. Save and invest regularly, even if the amount is small. Over time, this disciplined approach will help in accumulating substantial wealth.

Avoiding Impulse Spending
Avoid impulse spending and prioritize your financial goals. This ensures that you have sufficient funds to save and invest regularly.

Importance of Financial Literacy
Educate Yourself
Invest time in educating yourself about financial markets and investment principles. This empowers you to make informed investment decisions.

Stay Updated
Stay updated with market trends and economic developments. This helps in understanding the impact of market movements on your investments.

Role of a Certified Financial Planner
Professional Guidance
A Certified Financial Planner (CFP) can provide personalized investment advice based on your financial goals and risk tolerance. They help in creating a comprehensive financial plan tailored to your needs.

Avoiding Common Investment Mistakes
Over-Reliance on a Single Asset
Avoid putting all your money into a single investment. Diversify your portfolio to spread risk and enhance returns.

Chasing High Returns
Chasing high returns often leads to taking excessive risks. Focus on creating a balanced portfolio that offers steady and sustainable returns.

Emergency Fund
Financial Cushion
Maintain an emergency fund to cover unexpected expenses. This prevents the need to dip into your long-term investments during emergencies.

Setting Realistic Expectations
Long-Term Perspective
Invest with a long-term perspective. While markets may fluctuate in the short term, they tend to offer good returns over the long term.

Patience and Discipline
Patience and discipline are crucial for successful investing. Stick to your investment plan and avoid making impulsive decisions based on market movements.

Investing in Your Future
Starting Early
Starting early gives you the advantage of time. The earlier you start investing, the more you benefit from compounding, resulting in substantial wealth accumulation over time.

Goal-Based Investing
Invest with specific goals in mind. Whether it's expanding your business, buying a house, or retirement, having clear goals helps in creating a focused investment strategy.

Risk Management
Understanding Risk
Understand the risks associated with different investment options. This helps in making informed decisions and choosing investments that match your risk tolerance.

Mitigating Risk
Mitigate risk by diversifying your investments across different asset classes. This ensures that poor performance in one asset class does not significantly impact your overall returns.

Tax Planning
Tax-Efficient Investments
Choose tax-efficient investments that offer deductions and exemptions under various sections of the Income Tax Act. This helps in maximizing your net returns.

Understanding Tax Implications
Understand the tax implications of your investments to plan effectively. This helps in optimizing your investment returns and minimizing tax liability.

Clearing your loan and focusing on savings and investments will set you on a path to financial stability. Leveraging your skills in art, cooking, and fashion design to start a business can provide an additional income stream. Create a diversified investment portfolio and invest regularly to build a secure financial future. Seek guidance from a Certified Financial Planner to develop a personalized financial strategy. Stay disciplined and informed to navigate your financial journey successfully.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,


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Sushil Sukhwani  |419 Answers  |Ask -

Study Abroad Expert - Answered on Jun 22, 2024

Asked by Anonymous - Jun 08, 2024Hindi
Is master degree in physiotherapy from Canada along with bachelor degree in physiotherapy enough to settle in canada
Ans: Hello,

To begin with, thank you for contacting us. As an answer to your query, I would like to tell you that to settle in Canada, a master’s degree in physiotherapy from Canada along with a bachelor's degree in physiotherapy can be sufficient. You would be glad to know that degrees earned from Canada can improve your eligibility for immigration and employment substantially. Physiotherapy being a licensed profession in Canada, I would like to tell you that you will require to get your credentials recognised by the regulatory agency in the province or territory you intend working in. This frequently entails an evaluation of your education and potentially taking additional tests, or acquiring professional experience in Canada.

Moreover, obtaining a master’s degree from a university in Canada can also assist you with the Express Entry immigration system, by raising your Comprehensive Ranking System (CRS) score, thereby, enhancing your chances of being invited to submit an application for permanent residency (PR). Furthermore, your resume can be further strengthened by adding work experience acquired in Canada via post-graduate work permits. Hence, your academic background coupled with fulfilling regulatory and immigration standards can help you settle in Canada.

For more information, you can visit our website: www.edwiseinternational.com

You can also follow us on our Instagram page: edwiseint

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Sushil Sukhwani  |419 Answers  |Ask -

Study Abroad Expert - Answered on Jun 22, 2024

Should I join Bennett University
Ans: Hello Hitesh,

First and foremost, thank you for getting in touch with us. To answer your question first, I would like to tell you that your academic and professional objectives, as well as your personal choices play a key role in deciding whether to join Bennett University. Founded by the Times of India Group, Bennett University, is renowned for its strong focus on entrepreneurship, innovation, and industry-focused education. I would like to let you know that a vast array of undergraduate and postgraduate programs with state-of-the-art infrastructure, knowledgeable teachers, as well as partnerships with international organizations are offered by this university. Not just that, Bennett University boasts a strong placement record and emphasizes on overall development via a range of extracurricular activities.

Nevertheless, I would suggest that you take into account variables viz., the location, educational offerings, experience of the faculty members, and campus amenities. You should also compare it with other universities you are interested in, in terms of academic standing, career assistance, and student feedback. Lastly, in order to acquire more knowledge and assist in making an educated choice, I would recommend that you visit the campus, speak to students presently studying there, and participate in informational sessions.

For more information, you can visit our website: www.edwiseinternational.com

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Nayagam P

Nayagam P P  |630 Answers  |Ask -

Career Counsellor - Answered on Jun 22, 2024

Asked by Anonymous - Jun 22, 2024Hindi
Sir my daughter is in grade 9.Can you please suggest some preparation strategy for iit-jee .Which is the best online coaching for iit-jee foundation for grade 9.
Ans: Prefer ALLEN Online Coaching Classes. AhaGuru is another Better Option, if fees of Allen is More. However, If you join AhaGURU, join just Allen's Online Test Series also to practice questions online. Go to both Website, check & choose more suitable one for you.

NOW Coming to Preparation Strategies:

(1) Whenever you study at home, study for 45-minutes. Then take a break of 10-minutes when you can move away from your study table, walk, have some water & relax. If you continue studying beyond 45-minutes, your concentration power will go down, resulting to low output. Most students commit this mistake. (2) On daily basis (morning or evening whichever will be convenient to you), do yoga or meditation or physical exercises or play any games / sports for at least 30-45 minutes. This will further reduce your stress / distractions. (3) Study tough topics / tough subjects (applicable to you) early morning with your fresh mind. (4) Eat a lot of green vegetables / fruits which you can afford for & Avoid soft drinks (5) Every day night, before going to bed, revise whatever you have studied during the day. (6) Also, revise every week whatever you have covered till date (here your short-notes which you should prepare will be helpful). (7) Keep practising questions on topics which you have covered either offline or online (8) Give utmost importance to wrongly answered / difficult / complicated / tough questions and have a separate note-book specially for this for each subject (PCM) (8) You might be aware that JEE rank is allotted on the basis of highest score in Maths, followed by Physics & Chemistry. Practice more and more in Maths, till you reach Speed & Accuracy (9) By the end of 9th/10th/11th/12th standard (December-January), attempt fully syllabus online test series, evaluate and analyse your performance such as, (a) which topic / unit / concept you are weak which needs your revision and improvement as this will disturb you when you appear in actual JEE exam (b) abnormal time taken to attempt any question which you can come to know from Online Test Series which you should reduce (c) which questions you skipped and why? (10) Please AVOID studying under pressure that you should get admission only into IITs/ NITs. Never advisable. Any one can be successful, even if he / she studies in NON-IIT / NON-NIT Colleges also. (11) Have Plan B & Plan C for other Colleges Entrance Exams / Disciplines-Streams. (11) Avoid comparing yourself with other students. (12) Also, it is highly ideal to appear in / attempt minimum 5-Entrance Exams (for both Govt & Private Engineering Colleges). You will have a lot of options (easiest method) to choose the best and most suitable one, keeping in view a lot of factors such as, College | Location | Your Interest | Stream Preference | Placement Records | College Culture | Your Short & Long Term Goals | Pressure You Can Go Through | Your AIR & Job Market Condition when you apply for your BTech & Even after. I hope I have answered to your question with value additions.

All the BEST for your Bright Future.

To know more on ‘ Careers | Education | Jobs’, please Ask / Follow me in RediffGURU here.

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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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