I need some help in choosing business ideas........Let me provide the context, and then may be you guys can help me better...
I am an engineering graduate, software developer, business analyst, failed entrepreneur (pre-MBA attempt), post graduate MBA, start-up guy, now looking to start something of my own......2nd attempt at starting things, this time with a committed seed funding.....
I have a fair understanding of Technology (by virtue of employment with IT companies), and hence Computer and Internet driven businesses make more sense to me, though this is not a constraint while choosing the business. I have had exposure to several other domains - eCommerce, BFSI, Manufacturing, etc however, I am neutral to all these domains.
Recently, I have got an offer from friends and family members to start a business, they would provide the initial funding with some constraints.....and the constraints are as below:
1. The amount he can offer me is Rs 20L, in 4 installments (at the start of each quarter). No further payments will be made. Have to search for actual institutional investors after 12 months.
2. The business has to reach to a stage where it is able to break-even after 12 months. (Hence the company has to start generating revenue with-in the time limit).
3. The business has to start by 1st April 2013. At least the company should be registered, and shaped up to start working on the 1 years targets.
4. Company has to start operations in Bangalore/Delhi.
So guys.....help me out with the following questions.....How should I spot the business which could fit into the constraints placed......
Please do help me in gaining a direction in order to start this process. If you need some more information, please feel free to ask me.
Hope to hear from you guys soon.
You're welcome. I think you are quite lucky and fortunate to have friends and family who are supportive of your business plans. Generally speaking its rare to find a case where you get this kind of support.
As you have some backing in place, its time for you to convert ideas in to action. Since you were an entrepreneur earlier you should be able to initiate something.
Frankly speaking, I feel you must do your groundwork instead of waiting for someone to give you an idea. You can do your research and shortlist a few ideas that you are interested in, or have resources, skills or expertise, or the necessary capital.
lets see who will put the right solution, as of now its none yet