Dinesh Divekar
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Arun.bascon
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INNOVATIVEHRSOLUTION
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Pleasantservices
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Hello all,
I am working for XXXXXXXX. I am planning to start an organization. Is it possible? I am not going to resign my job for sometime.. I will work for the same company. Please let me know. i like to work for XXXXXXX, at the same time i want to run the business.
I really appreciate your help.
Thanks
Manny

From India, Madras
Dear Manny,
You can start new organization. But leave the job first. Don't do both togather. If the new business which you are going to do is concerned/connnected with your present assigenment. Keep twice thinking before doing so. It may drop you in trouble if your co. knows..
Regards
Innovative HR Solution

From India, Mumbai
Hello Manny,
You will need to first check and see whether there will be a conflict of interests between your current employment and your newer venture. You will need to read the fine print in your contract with the current employer, to ensure you can carry your ideas forward.
Beyond this, you will need to look into the legalities of the new entity, including the type of corporation you are looking to start, etc.
Would be happy to discuss this further with you.
Thank you,
Ramya Suresh

From India, Bangalore
Hey,
First of all congrats...
As other member mentioned it is necessary to check the conflict of interest as most of the organizations wont allow the current employee to run their own business. you need to check that.
Regards,
Shyam
Career Forum - Career Forum

From India, Madras
Dear Manny,

If you work for XXXXXXXXX, which is a global conglomorate in its might, they would have analysed you in depth about your background and profile. Only then they would have selected you for employment opportunity. The reason for your thought " that I want to work earn money and at the same start the business" itself is basically wrong. Starting a business is one's own decision in business career, but it is totally different matter to remain in the employment and at the same time parallally engaging your time, effort and benefits for the business. Will you allow-- if you are in business or employer -- your staff to start the business while in your own em ployment?

As i have been repeatedly informing in this forum that many people irrespective of their age, experience openly ask for the opinions/suggestions for something which is not ethical or common good both for organisations and employees. It may be harmful to you in your present career if you are in XXXXXXXXX. More so you have thoughtlessly mentioned the company name in the forum. Please refrain from doing this as it shows immaturity regardless of legalities. It is like many youngsters using two wheeler -- taking a short cut to pass through the traffic and unmindful of rules, ethics and basic manners for the fellow road users to reach the spot or simply endager the innocent people on the road. This is to simply satisfy urge to take short cuts whether you reach the destination or not.

I refuse to offer any suggestions to your idea. You may have brilliant idea or otherwise just wants to know what could be reactions from the people. In either case you are in wrong side.

All the best wishes.

V. Rangarajan.

From India, Pune
I feel that whether it is ethical or not depends on the contract you have signed with your employer and the conflict of interest. If it is against the contract provisions and if there are conflicts of interest then it becomes unethical to start an independent venture even when you are employed with your present employer. In that case it would not be proper for the members of this forum to offer you any guidance. Please clarify this aspect first.
From India, Madras
Sir you can start your business side by side when will you realized that you own business wants more time to grow and you are getting some revenue that will full fill your day to day expenses then you can resign from your co. And also you can start the business with your employment but be sure this information will not pass to your employer that you are starting your business.
Best of Luck
Rakesh

From India, New Delhi
Dear Manny.guru,
Hope you are doing great!
I have a couple of questions for you. Where r u based....? what kind of business are u interested in.??Actually I have a friend who is looking for a business partner (equal). May be we should talk.
You can reach me at
Thanx & Regards
Shivani
09569469731

From India, Mumbai
Hello Manny Guru,

A lot of discussions has happened already. You may not start your company as of now. However, let me tell you that 85% of businessmen fail in their business because they don't do any market research. Nothing stops you from doing market research while in the job. It can be off-job activity.

First, you do some course on how to do market research. You do the research on the following points:

a) Who will be my customers? What is their profile? Where are they located?

b) What do I need to do to attract my customers to my product or service? How can I take my product or services to them?

c) What is my product differentiation? What will be the brand pull?

d) Who are my competitors? Who is the strongest? Why are they strong? You are going to benchmark against whom? Is there geographical variation among the competitors?

e) Did anyone earlier enter in this business and has anyone failed? Why did they fail?

f) Are there verdicts of the supreme court or high course or any other court available related to the delivery of products or services?

g) Will there be any distributors? What is the psychology of the distributors? What will be their educational background?

h) Do you know the product/service very well? Do you have a passion to produce that product or deliver that service?

i) Have you decided about the quality of the product or service? Is there differentiation among "good', "very good" and "excellent" product or service?

j) What will be measures of performance of the employees that you will employ? When their performance will be "good', "very good" and "excellent"?

k) What will be your recruitment strategy to recruit the "right" staff? What research have you done on the job market to get the "right" staffs?

l) Will you take help of your near and dear ones to run your business? What will be their involvement? What "immunity" will they enjoy because they are "near and dear" to you?

m) Are you aware completely the statutory requirements to run this business? Have you actually met Govt officials and obtained information from them or just relied on your company secretary or chartered accountant?

You can obtain the information on the above points while in the job. Remember information is the key in today's world. Businessmen or businesswomen fail because of lack of awareness.

About Making Business Plan: - By the way, you wanted to start your business. But then have you prepared your business plan? If not, then you may avail of my consulting services. I help the upcoming entrepreneurs in developing a business plan for their business.

All the best!

Dinesh Divekar

+91-9900155394

From India, Bangalore
Dear Manny,

People have given you a lot of ideas as to why you should not or what to take into account before you start to ensure that what you are doing is ethical and legal. Mr. Divekar has given you advice on how to go about assessing if there is a gap in the market.

I take a slightly different perspective and ask you questions rather than answer your query.

Please let us know whether what you intend to do is in the same line of business as that of your employer?

Will your new company be using any of the ideas that you have developed while working with your present employer?

How much time, as a percentage of your daily activities, will you have to devote to your new venture?

Will time devoted to your new venture have any deleterious effect on your performance?

Will you be taking up any executive role in your new venture or just advisory role?

Some companies, in fact, encourage their employees to be innovative and venture out. Does your company foot that bill?

I know a friend who works for an MNC and is veturing out to start a web-based service which in NO way competes with what he does. He will be listed only as an advisor of that firm with others executives being employed to look after the day-to-day activities.

I hope you can answer the questions raised to your own satisfaction.

Best wishes

Simhan
Chief Advisor, Promentorconsulting.com

From United Kingdom

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