Recent content by genuineoptimist

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    Help needed with business start up - brain frazzled!

    Profit = Sales - Cost of goods sold - selling general & admin expenses - financial costs. This is calculated from the profit and loss statement and you pay tax on this profit. Stock increases affect the balance sheet and taxes paid in an year doesn't have anything to do with it. And to the...
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    Scalability of your business

    Why do people forget Google and Wikipedia? Robert Kiyosaki wrote Rich Dad Poor Dad. http://en.wikipedia.org/wiki/Rich_Dad,_Poor_Dad
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    Why big companies use employment agencies?

    Companies all over the world want to 'rationalize' their vendors, meaning reduce the number of vendors they deal with. Your idea goes directly in the opposite direction. You are trying to increase the number of vendors; please remember that any individual service provider is just a vendor to the...
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    I need to find a job

    @Gotum, Wow, this is one of the best posts I've read in long time. I'm going to save this by mailing myself. God forbid, when I find myself in OP's position, this is the best that I can possibly get. Thanks for a wonderfully helpful post :)
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    Are IT companies the post-modern dodgy plumber?

    See if some of your friends work in that shop and try to move things through them. It always helps if you know an insider. If not, pay only if the stuff works. That should be the line you take with small service outlets and word-of-mouth shops. If you take it to an authorized 'big' service...
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    Scalability of your business

    @CKG - I don't think that can be called scaling-up. Scaling up is acquiring a whole lot of new customers by using existing investments in people, processes & infrastructure or with minimal additional investments. By increasing utilization of resources till it is maximized. If its already at...
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    Getting a product out of my head!

    Sony is from Japan. Apple (IPhone, IPod) is from the US. Blackberry is from the US. I think all these companies are in electronics industry and doing pretty well right now. Correct me if I'm wrong. China does only contract manufacturing. When did we see any game changing innovation coming out of...
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    Scalability of your business

    Exactly. You can work on your business only if there is a potential for it to grow in scale or scope. And not all small businesses give that potential growth opportunity to the business owner. Being an entrepreneur I have to strike down a few businesses opportunities as not having expansion...
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    Getting a product out of my head!

    You need capital even to build a prototype. You have to pay for the skilled resources and the appropriate machinery. The prototype has to be adequately tested before it hits the market. Before all this happens, you need to do a market research to see the potential of the product. All this is...
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    Kids nowadays - have they got the basic skills?

    See, in general, the gap between the best and the rest has widened quite a bit in the last decade. So either we get the best of the heap or someone who's pretty average. The best kids these days are amazing. It is incredible to see the maturity, wisdom and knowledge of the brightest kids of...
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    Scalability of your business

    If I don't want to be involved in day-to-day running of a business, I can buy a self-running business and achieve the aim in day-1, isn't it? Being self-employed doesn't have an aim, it is the process of self-employment that matters. As someone said, It is good to have an end to a journey...
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    Scalability of your business

    This is not the issue that I wanted to discuss, however the point you bring-in is also significant. Since the entrepreneur is a start-up specialist and his skills are around this area, when the business can run on its own won't the entrepreneur lose interest in it & move on to start...
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    Scalability of your business

    What takes to scale-up a business? What is the maximum possible revenue and profits that scaling can bring? For instance a software for a mobile phone can have a target market of all handsets in the world, which gives the business owner a great potential scalability. However a...
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    Redundancy

    Notice period details are mentioned explicitly and unambiguously in the contract. Usually it is either months of service or money equivalent for those months including basic+few perks. Companies prefer to payout the salary due in the notice period and not have the redundant positions serve...
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    Am I too 'high-cost labour' to run my business?

    I fell off my chair laughing. Very nice. :) But seriously, I'm grateful to you and the other posters for helping me see my folly. An arrogant person with an inflated self-pride will make a poor entrepreneur. Maybe brains aren't needed as much as hard-work for a start-up businessman.
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