When is it the right time to start your own business
With so many startup companies coming up in Bangalore, I used to be curious about how these budding entrepreneurs realized that it is the time to call for own business. What if, they fail to achieve their dreams and aspirations? So, last time when I met Sunil Muniraj - one of Bangalore's best start-up founders, I put forward this concern.
Very casually, with a bright smile, he replied, "To be honest I don't think there is any exact time or perfect age group to start off a business. If you are really passionate about a particular dream, then you can right away make plans to give it a reality touch." He further gave me example of renowned business tycoons like Bill Gates - co-founder of Microsoft but a college dropout, Michael Dell - founded the DELL company when he was still a student, Dhirubhai Ambani - founder of Reliance Industries but possess no college degree and Mark Zuckerberg - launched Facebook from Harvard's dormitory rooms.
In his view, maximum people prefer giving their dreams a back seat due to lack of confidence. Instead they favor starting their careers with normal jobs. As days go by, they get too comfortable with monthly pay slips and the craving to own an independent business slowly dies out. It is only in very few, the fire of passion continues to burn, until one day it gets quenched.
Beside this reality, he as well came up with few other important business suggestions for start-ups. As per his business experience it is very vital to possess a complete understanding of the risks that a business owner needs to face, from time to time. Secondly, one should be highly clear about what his/her desires are. Though, the idea about spinning real money might excite you, you need to be very much grounded. And lastly, maintaining a well researched track about every competitor will keep you on safe field.
For Sunil Muniraj’s words: