Hello Everyone, Myself, Sandeep Devare, I have my business in Navi Mumbai. But I want to start Labour Contract Business , but have no any idea about it. Anyone can help help me to start in the same??
From India, Ghansoli
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From India, Ghansoli
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It is always good to start a business in a field you know well. Starting a business solely for easy ROI or because it is the most profitable doesn't make sense. One person may make huge profits in a business, while another may not achieve the same success due to various reasons.
Starting a Contract Labor Business
Now, regarding your query, a contract labor business can be initiated in two ways: either as an individual entity, such as a consultant, or by establishing a company/firm. You need to decide how you would like to proceed, and then inform me. I will guide you on the next steps.
Please let me know your decision so we can move forward accordingly.
Best regards,
[Your Name]
From India, Delhi
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81Starting a Contract Labor Business
Now, regarding your query, a contract labor business can be initiated in two ways: either as an individual entity, such as a consultant, or by establishing a company/firm. You need to decide how you would like to proceed, and then inform me. I will guide you on the next steps.
Please let me know your decision so we can move forward accordingly.
Best regards,
[Your Name]
From India, Delhi
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Hi! My name is Sandeep, and I am from Navi Mumbai. I have my own business in Navi Mumbai, and now I want to explore the Labor Contract Business. However, I have no idea about it. Can anybody help me?
Regards,
Sandeep
From India, Ghansoli
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Regards,
Sandeep
From India, Ghansoli
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Starting a Business: Key Considerations
If you are asking us how to open and build a business, it seems you are not yet ready to do this, as it appears 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.
Differentiation and Client Acquisition
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?
Financial Planning and Competition
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.? 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 aside. 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 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 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.
Conclusion
Failure to plan is planning to fail.
From Australia, Melbourne
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If you are asking us how to open and build a business, it seems you are not yet ready to do this, as it appears 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.
Differentiation and Client Acquisition
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?
Financial Planning and Competition
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.? 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 aside. 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 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 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.
Conclusion
Failure to plan is planning to fail.
From Australia, Melbourne
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I agree with John to some extent in response to your query. However, I would like to tell John that not half of India is setting up businesses in HR consulting. India is full of talented people with brilliant minds engaged in various businesses across different domains, and some of these businesses are unique, which other countries may not even imagine. This forum is HR-related, so it is understandable to receive mostly HR-related queries. However, this does not imply that most Indians are in this particular business. I just wanted to correct your statement and clear up any misunderstanding, John. Please don't mind, brother.
Now, Sandeep, building on my initial response, I would like to emphasize the importance of proper business planning before starting any venture. Your business should align with your interests and strengths. Avoid starting a business solely because you think it is profitable or because others are doing it.
Effective planning, executed at the right time and in the right place, will surely lead to success for you. If you are solely interested in the process of starting a business, you can reach out to me directly, and I can explain it better over the phone or through email. However, I recommend conducting thorough background research and having a detailed business plan in place before starting any business.
For any further clarification, please feel free to get back to me.
Kind regards,
[Your Name]
From India, Delhi
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Now, Sandeep, building on my initial response, I would like to emphasize the importance of proper business planning before starting any venture. Your business should align with your interests and strengths. Avoid starting a business solely because you think it is profitable or because others are doing it.
Effective planning, executed at the right time and in the right place, will surely lead to success for you. If you are solely interested in the process of starting a business, you can reach out to me directly, and I can explain it better over the phone or through email. However, I recommend conducting thorough background research and having a detailed business plan in place before starting any business.
For any further clarification, please feel free to get back to me.
Kind regards,
[Your Name]
From India, Delhi
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