Feeling Stuck in HR During a Recession: Should I Start My Own Business Now?

Hi,

I have been working in a software company as an HR for 3 years, and now I am bored with the routine work. Additionally, due to the economic recession, things are slowing down, impacting pay perks.

I am considering starting something on my own, perhaps a small business where I can be the boss. I believe this is the right age and time to take risks and try something different.

Could you please guide me on whether I should take this step now or wait?

Thank you,
Kumar

Hi,

I have been working in a software company as an HR for 3 years now, and I have grown tired of the routine work. Additionally, the economic recession has led to a slowdown in business, affecting pay perks. I am considering starting my own business, something where I can be my own boss. I believe this is the right time for someone willing to take risks and venture into something new.

I seek guidance from you all on whether I should take this step now or wait.

Thank you,
Kumar

Dear Kumar,

I appreciate your initiative. Even during this recession period, if you are considering starting your own business, you are likely to succeed. I believe you have your own business plans in mind, so proceed with them and let them develop.

Best wishes for your future ventures.

Dear Kumar,

The field you enter depends on your interest. However, the most important thing about business is learning what entrepreneurship is. I recommend taking a course on "Entrepreneurship." It will give you insight into Marketing, HR, Operations, and so on.

Ninety percent of entrepreneurs fail because of a faulty business plan or no business plan at all. Against this backdrop, this course will help you in a big way.

Thanks,

Dinesh V Divekar

Dear Kumar,

You were right - this is the ideal age. And you know what? This is the age that everyone thinks of doing something different or starting something on their own. Whether you should take a step above or hold on, depends upon your ability and willingness to accept failure as a part of this growth. I am not saying that it will lead to failure, but I am saying that it will all depend on how you face circumstances in life.

Either you can opt for doing something different at work itself or choose a different path like entrepreneurship. Really, I am not able to think out of my head at this point immediately, but one suggestion - do something that no one has done before. The entertainment industry has a major scope now... :-) try something related to this! (Just a suggestion)

I think you should give yourself some time to make this big decision and look through all the pros and cons. Obviously, starting a business requires capital, and I think you have that kind of money available. So, before embarking on this idea, think about the specific aim. Jot down your plans for the next 5 years, 10 years, and beyond. Above all, consider important factors like funds, advice, suggestions, and risks involved (technically & commercially). Business, in itself, is a huge risk, but if you are completely mentally prepared, then go ahead. However, before that, think through all the pros and cons in detail. Until you are sure about the above, you should continue with your present job.

Dear Kumar,

Even I am having the same idea as you. At the industry level, it might be better to start some business on our own.

Regards,
Viji

Dear All,

In my unit, I have a target of 300 suggestions per month, and there are 325 employees. Despite significant efforts over the past six months, we are only receiving 50-60 suggestions per month, with an involvement rate of only 20%. Please help me to achieve my target.

Thank you.

Global Overseas mentioned AdSense by Google. I've tried it, but it will not work, and it's not easy to earn money online.

Hi Sajid,

My name is Mamtha, and I am interested in what you told Kumar regarding the website, etc. Can you give me the details regarding this?

You should not leave your job and do something extra from routine work. Take on some projects to enhance your profile. If you want to make a change, start part-time. If you find it interesting, only then should you consider quitting your job.

Dear Basu,

I stay in Hooghly, 30 minutes away from Kolkata. There, I want to start a training institute related to TV, computer, and mobile repairing, along with other technical education. Additionally, I am considering offering higher studies such as MBA, BBA, or any computer courses from a well-affiliated institute. The people living in the area should be able to afford these courses.

Regards,
Tanmoy
9831816209

That is good advice. You can also check out the NEN site as they have lots of tips on starting a business.