New age Business tips
For my 'young friends' who want to get into business: 1. Business means making money, stability and a responsibility. 2. Don't expect a AC cabin, beautiful secretary, fancy board meetings, private jets, page 3 interviews & parties in few months of your business. It happens only in movies. 3. Never do a business in which you have no knowledge and completely dependent on a third person to run it. Don't invest everything you have. Keep aside 50% and do business only with the rest. So even if you loose you are not on roads. Pay loans on time to avoid accruing interests. Save a portion of your profit as a 'security' in emergency. Have short term plans to reach your long term plan. Long jump has short fall. So take small steps. 4. Learn to delegate but closely monitor so that you can pull up or change strategies before you hit the rock bottom 5. Expand as much as you can monitor. A safe business is better than a huge unmonitored business ...