Desi-Ishtyle Business - Is this Right for me or Not??
Please pardon me if you feel like I am criticizing my own ethnicity.
The majority of Indian Immigrants in US were always going by the first thought of business. Some of them are Consulting firm (to be clear H1 IT Staffing firm), Gas station, Groceries, Indian Restaurant, Insurance Agency, Indian air-ticketing agency, CPA firms, Attorney firms…etc. Nonetheless, there are many Indian Immigrants who have cherished by setting up the best technology startups and also are still serving in the top organization management.
I can exclude CPA firms and Attorney firms from this category as they are bound to their actual professional rather than being little arrogant money making business with little or even no “VALUE”. I am glad to see so many Indians trying to be self-employed. Off course, it is a need of people to have these services provided by Indians as they are so customized to full fill the needs (even though it is not the right thing to do).
I would say if we always go by the first thought which is the most common, I wouldn’t think that it is entrepreneurship Ideally. Even if it the first thought, it needs to have little Value in the core concept of the business.
Anyone who is passionate or even thinking about setting up a new business. Try to answer the below questions before you start:
1. Why are you passionate about this business?
2. What is the Value proposition to your customers?
3. What is the problem that you are resolving by your solution or services?
4. How different are you from your competitors?
5. How are you the most suitable for doing this than any other person out there?
6. Do you want to do this for your life time?
7. What is the Goal of your business in next 5 yrs – 10 yrs? (Other than financial)
a. Define Mission, Vision & Goals
8. What is the scope of the business (Local, National, Global)? Does it have a $1 Billion scope?
9. What is the problem that you are resolving by your solution or services?
10. Is your concept financially feasible? Prove it?
I believe that anyone who answers the above, can do the business if they are self convinced.
US Immigration Statistics: (2007)
Total Immigrants : 37.3 million
Immigrants are 13% of US population.
Total US population: 286.92 million
India Immigrants : 1.66 million
Indian Immigrants are 0.57% of the US population.
So, the Big Question is, Do you want to do business targeting 0.57% of population or with the rest 99.43%?
My whole intension to scribble this was to make my peers realize that they could do much better, rather could be exceptional by thinking Good and doing it Right.
Ref:
The majority of Indian Immigrants in US were always going by the first thought of business. Some of them are Consulting firm (to be clear H1 IT Staffing firm), Gas station, Groceries, Indian Restaurant, Insurance Agency, Indian air-ticketing agency, CPA firms, Attorney firms…etc. Nonetheless, there are many Indian Immigrants who have cherished by setting up the best technology startups and also are still serving in the top organization management.
I can exclude CPA firms and Attorney firms from this category as they are bound to their actual professional rather than being little arrogant money making business with little or even no “VALUE”. I am glad to see so many Indians trying to be self-employed. Off course, it is a need of people to have these services provided by Indians as they are so customized to full fill the needs (even though it is not the right thing to do).
I would say if we always go by the first thought which is the most common, I wouldn’t think that it is entrepreneurship Ideally. Even if it the first thought, it needs to have little Value in the core concept of the business.
Anyone who is passionate or even thinking about setting up a new business. Try to answer the below questions before you start:
1. Why are you passionate about this business?
2. What is the Value proposition to your customers?
3. What is the problem that you are resolving by your solution or services?
4. How different are you from your competitors?
5. How are you the most suitable for doing this than any other person out there?
6. Do you want to do this for your life time?
7. What is the Goal of your business in next 5 yrs – 10 yrs? (Other than financial)
a. Define Mission, Vision & Goals
8. What is the scope of the business (Local, National, Global)? Does it have a $1 Billion scope?
9. What is the problem that you are resolving by your solution or services?
10. Is your concept financially feasible? Prove it?
I believe that anyone who answers the above, can do the business if they are self convinced.
US Immigration Statistics: (2007)
Total Immigrants : 37.3 million
Immigrants are 13% of US population.
Total US population: 286.92 million
India Immigrants : 1.66 million
Indian Immigrants are 0.57% of the US population.
So, the Big Question is, Do you want to do business targeting 0.57% of population or with the rest 99.43%?
My whole intension to scribble this was to make my peers realize that they could do much better, rather could be exceptional by thinking Good and doing it Right.
Ref:
posted by Praneeth Reddy Patlola at
7:20 PM
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