There is also the danger that you are forced to take projects that are basically fraud or illegal, such as the "Windows Technical Support" scam operating out of India for the last 5 years at least. Most of the world now knows this is a fraud to get their credit card details. Google if you don't believe me. You will get thousands of hits. Other scams include Solar Energy. I get called several times a week from call centres in India, trying to defraud me with this scam.
However, for all prospective business owners, here again are my thoughts.
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. Almost every week, we get a posting about setting up a Call Centre business. I think the competition in this space must be overwhelming.
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.
9th November 2015 From Australia, Melbourne
10th November 2015 From India, Delhi
Adding to what you said, people here in India do not really know the value of investing in business development. Everybody wants someone with a magic wand and get business without investing time. Businesses must know how to sustain which is something that is lacking with many here.
10th November 2015 From India, Chennai