Business Mentor, Consultant And Trainer
Partner - Risk Management
Job Seeker HQ
Ritesh Shah - Owner @ Job Seeker Hq
Practicing Chartered Accountant
Learning & Teaching Fellow (retired)
Raj Kumar Hansdah
Shrm, Od, Hrd, Pms
Asso.prof.(commerce & Management) Pg
It appears that you have entered into the world of business without making proper business plan. How come you did not foresee this requirement of recurring expenses?
On the one side, you say that the "business is started well". In that case why there is no cash flow? Why you are unable to plough in the revenue that you are earning? Anyway click the following links. Especially the last link will be quite useful to you:
Strategic Marketing Plan
Dinesh V Divekar
4th September 2013 From India, Bangalore
Firstly, Congratulations on starting your own business!! I wish you luck.
Your problem does not have a straight forward solution, however do think out of the box you may get some solution.
I am not aware about your business hence can't comment specifically but I can point you in the general direction.
You will get people to work for you only if there is some immediate incentive for them; if you cannot give them money now then can you at least give them a chance to significantly improve their knowledge/skills. Even if you promise to pay later there has to be some kind of immediate incentive for them.
Try to approach colleges/institutes, you can check if some students are willing to work with you and in return you can give them a letter of recommendation/ internship / etc.
Also, do explore possibility of giving some kind of commission if anyone brings you business, this way you can at least start your cash flow.
By the way, it's very easy for people to give you straight opinions that no one will work for free, they are right in a way, but if you are persistent and think unconventionally (because your problem is unconventional) then you will definitely find a solution.
P.S. If you are convinced about the prospects of the business have you considered approaching any organization/individual who fund start ups? check on the net. If money is the only hindrance you can explore this option.
5th September 2013 From India, Pune
Congrats. You R a CA you better know the intricacies of business venture, of course a risk venture. Didn't you plan before start how you would manage vitamin "M". Don't worry there must be for sure like minded persons in Bangalore who would extend their helping hand. Use all the media available to you. Post your request on Facebook, twitter and what not, I am sure there is going to be flooding volunteers to help you out. Post your specific requirements in this forum also and I am confident there could a few in Bangalore will help you.
All the best pal .
6th September 2013 From India, Bangalore
If you are looking for a business partner, or many business partners, the questions is what are you offering ? How safe / stable are you and what is the guarantee that you will be able to deliver that benefit.
8th September 2013 From India, Mumbai
I am not talking of how to get finance. I am a CA and know how to arrange it.
But as the business is just a startup, getting finance at earlier cost you a lot. It may results in major dilution of equity.
I am not looking for finance, but people who love to write and discuss issues. The business i am talking of is about knowledge sharing.
8th September 2013 From India, Bangalore
Your question is a valid one. However, please note that people who contribute here at CiteHR, and other such sites, are all doing it for free. Do you know how many hours a week Moderators and Super Moderators and Senior Members spend responding to queries, etc.?
8th September 2013 From United Kingdom
PLease contact me by a private message giving details of what help you are seeking and what ESOP you are offering? I am based in the UK and if it something I can do from here, I will certainly help you. You can see my brief profile at https://www.citehr.com/467714-coping...-work-pg3.html
Also, kindly avoid reacting to people's messages. I have edited one of your posts to avoid generating "heat"!!
8th September 2013 From United Kingdom
However, will they do the same for a site or a business that is owned by someone and intended for profit of that person ?
Of course, I know moderators spend a lot of time on citrhr, I don't know about ownership or revenue share or any benefit that citrhr may have for moderators. I have always had a feeling as if citehr is not a business but a social forum.
Monica's question is still valid.
People will not want to work for free most of the time. There must be rewards and the rewards must be definite and a certain level of certainty that it will get encased.
9th September 2013 From India, Mumbai
There is a world of difference in working FREE for our social responsibilities as a professional;
and for a commercial venture which entices one with deferred payments in case of success of the venture; which itself is doubtful.
One can get like-minded people to Volunteer for a cause; but not free labour for a commercial activity.
Secondly, I think the person who posted the thread had been trying to generate traffic for his website; as is evident from other threads which also tend to generate controversy/uproar.
9th September 2013 From India, Delhi
But you know how much it cost to host a user generated content site.
And we have to aim get that cost atleast.
I started the site because wanted to do something different.
We indians only use what is from foreign and never what is our own.
Even citehr is hosted on a forum template (its not indian made).
I tried to come with a forum made from scratch and site is coded from scratch.
And nothing comes free, but believe me on tikshare you will earn if yoy share.
Site is still in development stage and once its done full all initail members will be rewarded.
Its just like google success story. I cant tell the plans but these are really great.
And people posting on tikshare are personally known to me. They are posting because they think plan is great.
Note: Citehr is a commercial project. They dont run on donation and in India you cant run any site on donation.
if "saswatabanerjee" donates for sure i will run it as non-profit organisation.- Take it on lighter side :)
9th September 2013 From India, Bangalore
Exciting idea, mail me if i could be of some help.
Coming to your original query, getting people to work for this project will depend on your capability to convince them that it is indeed, a great project and they will be getting something out of ESOPs.
Starting with "Free" word itself is a mistake , as you are doling out ESOPs. Try a little harder, look for such people who doesn't depend on salary income for their day to day living, are from the younger brigade and challenge more than the money matters for them. You may also host competitions at teach institute and as a prize give couple of guys, couple of months to work at your firm. In addition to that, you can look for such people who are out of college but not employed , give them a certificate for working at your place for contracted time. Post your jobs at sites like freelancer.com and see if someone is ready to work for ESOPs.
Once, you have funds chipping in, you can always hire people of your choice.
12th September 2013 From India, Delhi