hi, I am senior IT consultant (BE, PGDM) with about 15 years experience in technology/domain (manufacturing, financial services etc). I have worked as developer, business analyst, team lead roles. what options do I have to start my own firm/continue working for a company? what capital may be required to start a business?

Ans: Make a good website, detailing your services areas. Create your Linkedin profile highlighting yourself as an expert in your area of work, through publishing articles, opinions, views etc. Make a pdf deck of your services, highlighting your experience. Meet prospective clients and old colleagues who can give you work and pitch to them. Network, Network and network. Do the initial projects at whatever cost you get them, to create your credentials. Build your consulting business through referrals , slowly and steadily. Be visible in industry forums. Create trust.

Ans: One should first gain as much practical experience as possible before starting on your own. As mentioned by you, you are strong at structural subjects at B-Tech level. But you will see that practical structural design is way different than the theoretical ones.

Though the design concepts remain same, the onsite execution factors play an important role in finalizing your design data. Additionally, you being an independent consultant, you will have to learn the entire process starting from Tendering, preparing BOQs, Design report submissions, onsite visits etc.,. To understand the nuances of each step, I would suggest you to get some 5 years of exposure under some consultant and then you will be confident to start on your own.

Coming to software's (which will be helpful even for working under a consultant), you should start from AutoCad (for building plans, drafting etc.,) then for analysis part you can use any of the renown building packages like MIDAS, CSI products, Bentley Products. There is no hard and fast rule to follow a particular one. You can get a grip on any one of these and perform the tasks. All the very best for your future!

There are a few construction business ideas for beginners that can get you started in this exciting and ever-growing industry. The construction industry is full of opportunity, so if you’re considering starting your own business, now is a great time to do it.

Many different successful construction business models can be effective in the construction industry. The key is to find the model that best suits your company’s strengths and weaknesses.

One common business model is the design-build model. In this model, the construction company takes on both the design and construction phases of a project. This can be a good option for companies with strong engineering and construction capabilities.

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: Ashutosh
In my view, any meaningful professional experience is helpful in starting your own company. It would be better if you work in the same industry that you eventually want to be in on your own as that will give you the relevant experience, build hands-on expertise plus create your network. Use every opportunity to learn and improve yourself in every way. Develop a set of mentors/advisers/ well-meaning friends and associates.
All the best ????