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Asked on - Aug 02, 2023
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: Sandeep, your options depend upon your skill sets, business orientation, risk taking capabilities etc. The capital requirements may also depend based on what you finally decide to do. As a rule, plunge into your own venture when you savings that will last you at least 12-15 months, without a salary. This is over and above what you will need to invest in the business. So select the business carefully, create a detailed business plan evaluating the capex and opex requirement, see how you will raise the money and how you will manage your own expenses for the next 12-18 months, before the business starts paying you anything at all.
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