Home > Career > Question
Need Expert Advice?Our Gurus Can Help

Harsh Bharwani  |55 Answers  |Ask -

Entrepreneurship Expert - Answered on May 25, 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
Asked by Anonymous - May 17, 2023Translate

Dear Sir, I am thinking of starting an Amazon type app for industrial goods, which I think will be a platform for Indian industrial goods manufacturer. Do you suggest this is a good idea?

Ans: Thank you for reaching out and sharing your idea of starting an Amazon-like app for industrial goods, specifically targeting Indian industrial goods manufacturers. I appreciate your entrepreneurial spirit and innovative thinking.
Considering the current market dynamics and the growing importance of digital platforms, I believe your idea has great potential. Here are a few reasons why I think it could be a good idea:
Expanding E-commerce Market: The e-commerce market in India has been experiencing tremendous growth, and there is a significant opportunity to tap into the industrial goods segment. By creating a dedicated platform for Indian industrial goods manufacturers, you can cater to the specific needs of this market and provide them with a convenient and efficient way to showcase and sell their products.
Streamlining Supply Chain: The industrial goods sector often involves complex supply chains. Your app can act as a centralized platform, connecting manufacturers, suppliers, and buyers, thereby simplifying the procurement process and reducing inefficiencies in the supply chain. This can lead to cost savings and improved productivity for both manufacturers and buyers.
Promoting Made in India: Your platform can play a crucial role in promoting and supporting Indian industrial goods manufacturers. By providing them with a dedicated marketplace, you can help showcase their products to a wider audience, both domestically and internationally. This will contribute to the government's "Make in India" initiative and help strengthen the Indian manufacturing sector.
Enhanced Transparency and Trust: E-commerce platforms thrive on transparency and trust. By ensuring a secure and reliable platform, with verified manufacturers and robust product listings, you can build trust among buyers, who can confidently purchase industrial goods through your app. Implementing buyer protection mechanisms and transparent reviews/ratings can further enhance customer satisfaction and trust.
However, it is important to conduct thorough market research and develop a robust business plan before proceeding with your idea. Evaluate factors such as competition, target market size, revenue streams, and the required technological infrastructure. It would also be beneficial to engage with industry experts, manufacturers, and potential customers to gain insights and validate your concept.
I encourage you to explore this idea further and leverage the opportunities presented by the digital landscape. With careful planning, strategic execution, and a focus on delivering value to your customers, your app has the potential to make a significant impact in the industrial goods market.
Best of luck with your entrepreneurial journey, and should you have any further questions or require any guidance, feel free to reach out.

You may like to see similar questions and answers below

Latest Questions

Moneywize   |66 Answers  |Ask -

Financial Planner - Answered on Mar 03, 2024

Asked by Anonymous - Mar 03, 2024Translate
I'm contemplating a career change in my late 30s, earning Rs 14 lakhs annually. How can I navigate this transition while ensuring financial stability and working towards long-term goals such as retirement?
Ans: Transitioning to a new career in your late 30s while maintaining financial stability and planning for long-term goals like retirement requires careful consideration and planning. Here are some steps you can take to navigate this transition effectively:

1. Assess Your Skills and Interests: Reflect on your skills, interests, and values to identify potential new career paths that align with your strengths and passions. Consider seeking career counseling or taking career assessment tests to explore different options.

2. Research Potential Careers: Conduct thorough research on the industries and roles you're interested in pursuing. Look into job market demand, salary potential, and growth opportunities to ensure your chosen career path is financially viable.

3. Skill Development and Education: Determine if you need to acquire new skills or education to transition into your desired field. This could involve enrolling in courses, obtaining certifications, or pursuing higher education such as a degree or specialised training programme.

4. Financial Planning: Evaluate your current financial situation and create a budget to understand your income, expenses, and savings. Factor in any potential changes in income or expenses associated with your career transition. Consider setting aside an emergency fund to cover unexpected expenses.

5. Debt Management: If you have any outstanding debts, develop a plan to manage and pay them off efficiently. Prioritise high-interest debts like credit card debt while maintaining minimum payments on other loans.

6. Retirement Planning: Review your retirement savings accounts like the EPF, and assess whether you're on track to meet your long-term retirement goals. Consider consulting a financial advisor to develop a personalised retirement plan based on your age, income, risk tolerance, and retirement objectives.

7. Health Insurance and Benefits: Evaluate the health insurance and other benefits offered by your new employer, if applicable. Ensure you understand the coverage provided and any associated costs. If transitioning to self-employment or freelancing, research options for obtaining health insurance coverage independently.

8. Networking and Building Connections: Network with professionals in your desired industry to gain insights, advice, and potential job opportunities. Attend industry events, join professional associations, and leverage online networking platforms like LinkedIn to expand your network.

9. Side Hustle or Freelancing: Consider starting a side hustle or freelancing in your desired field while maintaining your current job. This can provide additional income, valuable experience, and a smoother transition into your new career.

10. Evaluate Risks and Rewards: Assess the risks and rewards associated with your career change, including potential income fluctuations, job stability, and work-life balance. Be prepared to adapt and make adjustments as needed throughout the transition process.

By following these steps and carefully planning your career transition, you can navigate the change while maintaining financial stability and working towards your long-term goals, including retirement.
Dr Karthiyayini

Dr Karthiyayini Mahadevan  |599 Answers  |Ask -

General Physician - Answered on Mar 03, 2024

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.


You haven't logged in yet. To ask a question, Please Log in below

A verification OTP will be sent to this
Mobile Number / Email

Enter OTP
A 6 digit code has been sent to

Resend OTP in120seconds

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus
Sign up

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

Enter OTP
A 6 digit code has been sent to Mobile

Resend OTP in120seconds