{"id":186099,"date":"2023-11-22T11:26:10","date_gmt":"2023-11-22T11:26:10","guid":{"rendered":"https:\/\/indiansapidnews.com\/?p=186099"},"modified":"2023-11-22T11:26:10","modified_gmt":"2023-11-22T11:26:10","slug":"i-failed-2-start-ups-and-lost-rs-2-crores-pls-help","status":"publish","type":"post","link":"https:\/\/indiansapidnews.com\/celebrity\/i-failed-2-start-ups-and-lost-rs-2-crores-pls-help\/","title":{"rendered":"&#8216;I failed 2 start-ups and lost Rs 2 crores. Pls help&#8217;"},"content":{"rendered":"<p><strong>rediffGURU Chandu Nair, a venture capitalist and angel investor, advises entrepreneurs and enterprises about how to create and build their business.<\/strong><\/p>\n<ul>\n<li><strong>You can post your questions for rediffGURU Chandu Nair&nbsp;HERE.<\/strong><\/li>\n<\/ul>\n<p>Do you want to quit your job and start a business of your own?<\/p>\n<p>Are you looking for a mentor who can help you evaluate your chances and guide you about the risk and challenges of entrepreneurship?<\/p>\n<p>Whether you are a first time entrepreneur or a seasoned one, you will need mentors who can guide you.<\/p>\n<p><strong>rediffGURU Chandu Nair<\/strong> advises entrepreneurs and enterprises about creating and building their business.<\/p>\n<p>He has direct experience in angel, venture capital and strategic investor funding.<\/p>\n<p>Over the last three decades, he has made a name for himself in industry, consultancy, media and information services.<\/p>\n<p>Mr Nair is on the advisory boards of the Chennai-based private equity firm, Fulcrum, and the social impact fund, Menterra.<\/p>\n<p>He&#8217;s an independent director on the board of India&#8217;s first retail building products company, Shankara Building Products Limited.<\/p>\n<ul>\n<li><strong>You can post your questions for rediffGURU Chandu Nair HERE.<\/strong><\/li>\n<\/ul>\n<p><strong>Anonymous: Dear Mr Chandu, I have failed two start-ups and lost Rs 2 crores. <br \/>I took a break and worked as a consultant for a year. <br \/>I want to be an entrepreneur again. <br \/>Any tips that you&#8217;d like to share with me?<\/strong><\/p>\n<p>Dear Anon, kudos to you for reviving your entrepreneurial dreams despite your two setbacks and financial loss.<\/p>\n<p>I have no idea of your current financial and personal situation &#8212; married, with kids, extent of savings, if spouse is working, etc.<\/p>\n<p>It would be good for you to ensure that you have savings which can take care of your family&#8217;s needs for one year at least so that family worries don&#8217;t derail you and take attention away.<\/p>\n<p>Have you shortlisted any ideas and done an evaluation? Any preliminary validation done?<\/p>\n<p>At this juncture, it would be a good idea to figure out what went wrong in your previous start-ups and why plus what corrective steps are required.<\/p>\n<p>Have you also got the seed capital organised or is it possible to get it from savings and your family and friends?<\/p>\n<p>It may be helpful to get a co-founder(s) with complementary skills\/expertise and experience and aligned in terms of vision and values.<\/p>\n<p>These preparatory steps can help you in reigniting your start-up dreams!<\/p>\n<p>All the best.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Rizwan: My age is 56 years. I have served 25 years experience pharma sales and marketing in Gulf countries worked and managed for reputed companies (MNC) of the under different profiles. <br \/>Due to my age, I am not getting a suitable job now for more than a year.<br \/>Due to pandemic I got stuck here in India. I tried my best to with a pharma retail and distribution business it&#8217;s all in no loss no profit. <br \/>I want to start something to earn a decent income. <br \/>Kindly suggest a suitable business idea with least investment. Thank you.<\/strong><\/p>\n<p><strong>I have suggested approaches to take<\/strong> with respect to identifying and validating business ideas to previous Rediff users.<\/p>\n<p>Kindly go through the same. There are several opportunities but you need to focus on those which are:<\/p>\n<p>1. Relevant to your experience, expertise, network and passion<\/p>\n<p>2. Take into account finance available or that can be organised by you, plus<\/p>\n<p>3. Consider opportunities that offer growing prospects.<\/p>\n<p>Pharma and healthcare itself is such a growing industry in India &#8212; from manufacturing to diagnostics to sales and marketing to exports and more.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Anonymous: Hi sir, I am running a consulting business but not progressing more as I need money.<br \/><\/strong><strong>Where can I get help? Pls reply<\/strong><\/p>\n<p>The best sources in such professional services businesses are customers in my view.<\/p>\n<p>You may want to tweak\/change your payment terms such that money comes in regularly or even in advance.<\/p>\n<p>Depending on the type of consulting work you are doing and your credit background, it is possible you may be eligible for certain loans from banks \/ NBFCs or CGTMSE loans (collateral-free).<\/p>\n<p>My recommendation is to avoid loans as much as possible and focus on getting better-paying clients who value your expertise.<\/p>\n<ul>\n<li><strong>You can post your questions for rediffGURU Chandu Nair HERE.<\/strong><\/li>\n<\/ul>\n<p><strong>Please Note: The questions and answers in this advisory are published to help the individual asking the question as well the large number of readers who read the same.<\/strong><\/p>\n<p><strong> While we value our readers&#8217; requests for privacy and avoid using their actual names along with the question whenever a request is made, we regret that no question will be answered personally on e-mail.<\/strong><\/p>\n<p><strong>All content herein is written and published online for informational purposes only. It should not be relied on as your only source for advice.<\/strong><\/p>\n<p><strong>If you choose to rely on any information provided herein, you do so solely at your own risk. Opinions expressed herein cannot necessarily provide advice to fit the exact specifics of the issues of the person requesting advice.<\/strong><\/p>\n<p><strong> Similarly, information received via an external link embedded in an article cannot be relied on as your only source of advice.<\/strong><\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/im.rediff.com\/getahead\/2023\/nov\/16entrepreneur-money-lead-1.jpg?w=670&#038;h=900\"><\/p>\n<p>Source: <a href=\"https:\/\/www.rediff.com\/getahead\/report\/ask-rediffguru-your-entrepreneur-questions\/20231122.htm\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>rediffGURU Chandu Nair, a venture capitalist and angel investor, advises entrepreneurs and enterprises about how to create and build their business. You can post your questions for rediffGURU Chandu Nair&nbsp;HERE. Do you want to quit your job and start a&#8230;<\/p>\n","protected":false},"author":2,"featured_media":186098,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>&#039;I failed 2 start-ups and lost Rs 2 crores. Pls help&#039; - Indiansapidnews.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/indiansapidnews.com\/celebrity\/i-failed-2-start-ups-and-lost-rs-2-crores-pls-help\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"&#039;I failed 2 start-ups and lost Rs 2 crores. 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