Five
Ways To Glide Into your Own Venture
YOU’VE FINALLY decided to quit your job and become an entrepreneur.
But make sure you plan it well.
Here are a few tips.
1 Build a Cash Reserve
Entrepreneur Meeta Wasan, who runs Doon Consulting in Gurgaon, says it is important to have cash flow arrangements for at least a year. “Even if you are lucky to get clients early on, you will need that much time before you collect receivables,” she adds.
Entrepreneur Meeta Wasan, who runs Doon Consulting in Gurgaon, says it is important to have cash flow arrangements for at least a year. “Even if you are lucky to get clients early on, you will need that much time before you collect receivables,” she adds.
2 Keep Good Equations
Ensure that you maintain work ethics and decorum till you are in your current job. You never know when your boss and co-workers come in handy with references or hiring you back.
Ensure that you maintain work ethics and decorum till you are in your current job. You never know when your boss and co-workers come in handy with references or hiring you back.
3 Balance your Time
It’s important to learn to balance one’s time between work and personal responsibilities. “In the initial stages this can be very difficult,” says Wasan.
It’s important to learn to balance one’s time between work and personal responsibilities. “In the initial stages this can be very difficult,” says Wasan.
4 Be Organised
Always keep a diary and a calendar within reach, and not depend on an “overloaded memory,” says Wasan.
Always keep a diary and a calendar within reach, and not depend on an “overloaded memory,” says Wasan.
5 Keep an Open Mind
"It’s easier to take a risk early in your career,” says Hitesh Bhagia of IIM Kozhikode’s 2009 batch who has co-founded Homeveda Media Labs. “If you are well qualified and have the right attitude, you should succeed. Even if you don’t, in the worst case you will go back to the same old job where things won't change much in two to three years. It’s a worthwhile gamble,” he adds.
"It’s easier to take a risk early in your career,” says Hitesh Bhagia of IIM Kozhikode’s 2009 batch who has co-founded Homeveda Media Labs. “If you are well qualified and have the right attitude, you should succeed. Even if you don’t, in the worst case you will go back to the same old job where things won't change much in two to three years. It’s a worthwhile gamble,” he adds.
Sreeradha D Basu ET121023
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