To be a leader you will have to deliver value to your clients and build trust, says rediffGURU Baqar Iftikhar Naqvi, CEO, Upriver.
- You may post your start-up related questions to rediffGURU Baqar Iftikhar HERE.
Do you have a business idea that you believe can change the world?
Are you wondering about when it would be appropriate to quit your job and start your own business?
Are you looking for investors, funding options?
rediffGURU Baqar Iftikhar Naqvi, start-up mentor, founder and CEO of Upriver Ecommerce, offers advice on how to navigate the many challenges of entrepreneurship.
- You may post your start-up related questions to rediffGURU Baqar Iftikhar HERE.
Anonymous: Mr Baqar, my retirement dream is to start a business in Indore or Bhopal maybe a restaurant or a fast food chain.
I am 47 and have savings worth Rs 25 to 30 lakhs.
Can you suggest a safe business model I can invest in?
Should I go for a franchise model or set up something of my own? Please suggest some ideas.
You should definitely go for a franchise business as the chances of success are higher.
You will also get to learn about running a restaurant business.
Restaurant operations are complex and there are so many restaurants that open and close within a short time.
It is hence best to go with a safer, franchise option.
Shekar: I have developed a working concept for a 1 Terahertz CPU where the hard disk processor works at 1 terahertz and the CPU can read and write data of 1 terabyte in a few seconds.
I am looking for funding. Kindly advise.
There are many government funds available for tech innovations.
Please research and apply. It is fairly easy to get such government grants.
Alternatively, look for incubation centres where you can improve upon your concept and create prototypes. There are many universities and private incubation centres.
Karthik: I'm running my own business for more than 10 years.
Now my age is 40, still I'm struggling to get top on my business.
How can I grow my business and become number one in my field?
While I cannot comment very specifically as I don't have details of why you are still not on top of your business; to be a leader you will have to deliver value to your clients and build trust.
Everything that you do has to lead to these two.
Evaluate for yourself where you are missing out and sort out the problems for yourself.
Anonymous: I am a retired person.
I want to start a small readymade garment shop in Thane city. But I don't have any experience in this line.
Please let me know the investment, how to go about it, etc. Please help.
The garment business is a very tricky business where you need to project the fashion trends and buy accordingly.
If you don't have experience, better not to start.
Do something where you don't need to forecast what will sell and what will not.
- You may post your start-up related questions to rediffGURU Baqar Iftikhar HERE
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