i want to be my own boss - red apple inc
DESCRIPTION
This is meant to help you be on your own and kick your day job, if that is what you would like to do :)TRANSCRIPT
I WANT TO BE MY OWN BOSS !!
Thought Paper by Red Apple Inc… Author: Ramesh K Meda, CTO
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About Red Apple Inc…
• Red Apple Inc is IT Services and Management Organization with focus on – Management Advisory Services – Product Management Services – Global HR Staffing Services – BPO & KPO Services
WHY SHOULD I BE MY OWN BOSS?
If you don’t know the answer already…. This presentation is not for you
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You must be…
• A good decision maker• A problem solver at heart • A person with good human interaction skills • An (educated & calculated) risk taker • If not, please don’t quit your day job
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How to start… Decision chart
• Are you committed to your ideas? • Are you willing to work as one-man-army?• Can you smile under pressure? (no jokes ) • Do you have personal funds or funder to cover
all of Capital Expenses and three months of Operational Expenses?
• If any of these is “NO”, please reconsider your decision of getting into business…
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What next….
You have come this far… so you must be a brave heart…
Congratulations
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To start a business, you must have…
• Clear business idea • Business knowledge • Start up money • Business support • Clarity on customer segmentation • Clear business plan • Financial viability
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Next steps
• Create a business plan • Create a financial plan • Create a marketing plan
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Business Plan
• What is it?– Definition of business goal– Operational plan to achieve the same
• Why develop one?– To have quantifiable goals and targets
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Financial Plan
• Spend plan – Capital expenses by month – Operational expenses by month
• Earn Plan – Revenue layout by month – Should include worst case scenario planning
• Profitability Planning / Dreaming ;) – Projected profitability by month – Should include break even calculation and projection
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Marketing Plan
• Go-to-market strategy • Customer segmentation • Pithing for business • Closing deals
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If being funded…
Obviously, investor would be keen on profitability projections.
Please project worst case scenario and you will be a winner all the way
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Types of business types
• Sole proprietorship – Most common choice, if self funded
• Partnership – Typical choice, if funder is working in your business
• Incorporation (LLP, Pvt Ltd…) – Works best, if you want to take business public
• New division of an existing business – This would be typical investor’s choice, if you are
not coming in with proven track record…
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Typical Trend
• I want to quit my job after the business picks up – These guys typically will not work best in business – Business is all about taking “educated risks”
• I want to jump in cold turkey – This is most preferred approach – Have a clear go / no-go deadline
• I will start, only if team is around me – Typical procrastinators or project is too large for a
single person
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Want to… but,
• Everybody develops cold feat to start with, so you are not new…
• People around you will want to comment one way or the other, don’t bother… stick to your plan
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Can somebody advise me…
• There are way too many advisors around… • It is your life and only your opinion counts at
the end of the day • You can hear all you want from everybody,
but, you must make your own decisions
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What can we do for you…
• We can help you understand market perspective of your product or service
• Share our experience • Incubate your business, if we like your idea
• Feel free to call Mr. Surya @ +91 80 4147 9204 or write to him [email protected]
THANK YOU….
Contact us for more information… USA +1 973 210 3030 India +91 80 4147 9204 eMail [email protected]