Dinesh Divekar
Business Mentor, Consultant And Trainer
Bijay_majumdar
Freelancer In Hr &indirect Taxes For
FredAnth
Senior Services Manager
Shamsali
Hr Assistant
Aussiejohn
Trainer
BELIEVE&ACHIEVE
Executive In Psu
+1 Other

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Dear Seniors,
Greetings of the Day!!!!
I have good knowledge in HR (Generalist) profile, i want to start my own venture.
please guide me step by step for setting up my consulting firm.
Hope to hear from you soon.
Regards,
Shams
hrd.super1@gmail.com

Dear Shams,
You could have searched this forum, before raising the query. Anyway click the following links to read my replies of past posts:
https://www.citehr.com/241975-i-want...ml#post1109999
https://www.citehr.com/260478-starti...ml#post1181231
Strategic Marketing Plan
Thanks,
Dinesh Divekar

No one can guide you ecept yourself, meditate , imagine , have a belief and then create a mastermind of people you may even not know ...results will definitely come to you sooner or later depending on your belief system.
Sorry, but if you have no idea how to go about this, and expect other people to tell you, then you are headed for disaster.

Take a step back, and do some research on this FIRST.

Start first with a thorough SWOT analysis of both yourself and the business idea. After that put together a very detailed and comprehensive Business Plan that sets out exactly how the business is going to be set up, what funding you have, how you will operate, how you will market, and where the clients will come from.

From reading CiteHR, it seems that half of India is setting up businesses such as this.

What is going to be different about you and your business?

How are you going to find clients, when all the other similar businesses around you are seeking the same clients?

How are you going to support yourself (and your family if applicable) while you try to establish the business and make it profitable to pay you a salary?

What capital and ongoing finance do you have to start this business, hire and pay staff, rent office accommodation, pay for marketing and advertising etc etc??

How many other similar businesses are there right now in your area that you will be competing with?

As a general rule of thumb, you need to work out what your total living expenses are for a year, and put that money to one side. That relieves the pressure to some extent while you try to establish the business. At least you can then maintain a roof over your head, continue to eat, and pay for all your living expenses, though of course, you may need to live more frugally.

Secondly you will need to work out what it is going to cost to set up the business from scratch, then how much money you will need to run the business for at least a year. Very very few businesses ever make any money in the first 12 months, so if you are counting on this generating income as soon as you open the doors, then I seriously advise you to rethink this idea NOW.

We have so many postings here on CiteHR of people who have started their own businesses, and are now desperately seeking clients etc, because the business is failing. I'll guarantee that none of these people did any research first, or made sure they had funds in place to live on.

FAILURE TO PLAN IS PLANNING TO FAIL.

I have just saved you a lot of money from making a wrong decision.

you should have good contacts and good understanding of recruitment before you start your own venture. Needless to say some initial capital also for investment.
Hi,
its vast business, with huge opportunities in various aspects of manpower consulting.You may be asked for manpower consulting,recruitment,background verification, compensations and compliance management and many other things including performance management consulting etc.My best wishes to you.If you are rightly focused, yes you will achieve success.

Hiiiiiiiiii,
I am working as an HR (Generalist), having more than 4 yrs of work exp.
i am planning to set up my own consulting firm, i am well verse in all aspects but
i have one problem that is "CAPITAL INVESTMENT". I dont want to buy portal logins like Naukri/Shine etc.
I have good relation in some esteemed business organizations.
please suggest me some possible ways to start up my own venture, it's very urgent.
Regards,
Danish
hrd.super1@gmail.com

'Huge' Capital investment is required when you need a team, infrastructure etc. My mentor Mr. Albert always says "work on 'zero budget' plan. nevertheless you will need money to take care of incidential expenditure and see how much you have in hand. the 'zero budget' helps to know how long we may be able to survive with the available funds till you make a billing.
hope this 2 cents helps

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