Cite.Co is a repository of information and resources created by industry seniors and experts sharing their real world insights. Join Network
Anonymous
hi, dear one and all good evening, this is siva. i am going to begin a startup placement services firm, will you please help me about this, how to get start and get clients to tie-up.
From India, undefined
you need first registration your placement agency. and need best work in B.D
From India, Ahmedabad
okay thank you so much.
and i gonna start @own proprietary ship, and i have read about how to start a firm some where on internet, in that they have mentioned registration not a mandatory thing until your business turns into 10 lakhs per annum. isn't it?

From India, undefined
If you are having to ask us how to open and build a business, then you are not yet ready to do this as it appears that you have not done any planning whatsoever.

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 in HR placement consulting. I have no doubt that there are probably hundreds of placement businesses in your area at the moment. That's a lot of competition to fight.

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

How are you going to find clients, when all the other outsourcing 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 the area around you 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.

From Australia, Melbourne
Thanks for good and wise response - yes we need to count the cost before setting up anything
From India, Hyderabad
This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2020 Cite.Co™