Aspiring Entrepreneur: How Can I Start My Own Employment Firm and Create Jobs?

Dear HR Folks,

I need your help in these tough times as I aspire to become an entrepreneur by opening my own employment firm. I hold an MBA in HR and Marketing and possess sound leadership skills. Could you please suggest how I should proceed?

I hope you would assist me in this noble cause of creating employment opportunities for others and myself. I eagerly await your reply!

Thank you.

Hi, I have tried this before and would recommend the following:

1) Ensure that you have a good financial base to start off with.

2) You might want to remain employed and then ensure that you have the basics in place: office space (if needed - could start off as a home-based/virtual business initially), strategy (marketing and branding), and operational plan, clients, budget, and financial/operational system.

3) Human resources - the bare minimum: accountant/bookkeeper and administrator to start with. Then as the business becomes profitable, you can operate it on a permanent basis, knowing that 'all bases are loaded,' and you can comfortably make the transition from employee to employer.

Alternatively, build up your clientele while you are employed by taking on freelancing projects after hours (if this is feasible), and then build your profile and financial base progressively.

Hope this helps you.

Regards,
PN

Dear Gaurav,

Welcome to the HR fraternity. Entrepreneurship is something more than a model of being independent. I hope you are pretty aware of it; in such a case, let me be the first to extend my hand in giving you a pat. Since your query demands sheer guidance, I recommend you frame your vision and mission first. Without that, any well-built ship can sink. It's good to start an agency that facilitates employment, but at the same time, you need to understand that a business enterprise can't act as a helping authority. It requires passion and dynamism to compete and result in success. Take some time to introspect on this, and I am sure you will come up with the basic necessities.

I also suggest you personally take some business coaching before you land in these kinds of forums for fundamentals since many of them seek support rather than provide. I wish you all the best and hope to see you with many posts on an entrepreneurial style.

Warm Regards,

Rec