I WANT TO BE MY OWN BOSS !!

Thought Paper by Red Apple Inc… Author: Ramesh K Meda, CTO

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About Red Apple Inc…

• Red Apple Inc is IT Services and Management Organization with focus on – Management Advisory Services – Product Management Services – Global HR Staffing Services – BPO & KPO Services

WHY SHOULD I BE MY OWN BOSS?

If you don’t know the answer already…. This presentation is not for you

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You must be…

• A good decision maker• A problem solver at heart • A person with good human interaction skills • An (educated & calculated) risk taker • If not, please don’t quit your day job

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How to start… Decision chart

• Are you committed to your ideas? • Are you willing to work as one-man-army?• Can you smile under pressure? (no jokes ) • Do you have personal funds or funder to cover

all of Capital Expenses and three months of Operational Expenses?

• If any of these is “NO”, please reconsider your decision of getting into business…

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What next….

You have come this far… so you must be a brave heart…

Congratulations

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To start a business, you must have…

• Clear business idea • Business knowledge • Start up money • Business support • Clarity on customer segmentation • Clear business plan • Financial viability

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Next steps

• Create a business plan • Create a financial plan • Create a marketing plan

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Business Plan

• What is it?– Definition of business goal– Operational plan to achieve the same

• Why develop one?– To have quantifiable goals and targets

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Financial Plan

• Spend plan – Capital expenses by month – Operational expenses by month

• Earn Plan – Revenue layout by month – Should include worst case scenario planning

• Profitability Planning / Dreaming ;) – Projected profitability by month – Should include break even calculation and projection

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Marketing Plan

• Go-to-market strategy • Customer segmentation • Pithing for business • Closing deals

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If being funded…

Obviously, investor would be keen on profitability projections.

Please project worst case scenario and you will be a winner all the way

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Types of business types

• Sole proprietorship – Most common choice, if self funded

• Partnership – Typical choice, if funder is working in your business

• Incorporation (LLP, Pvt Ltd…) – Works best, if you want to take business public

• New division of an existing business – This would be typical investor’s choice, if you are

not coming in with proven track record…

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Typical Trend

• I want to quit my job after the business picks up – These guys typically will not work best in business – Business is all about taking “educated risks”

• I want to jump in cold turkey – This is most preferred approach – Have a clear go / no-go deadline

• I will start, only if team is around me – Typical procrastinators or project is too large for a

single person

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Want to… but,

• Everybody develops cold feat to start with, so you are not new…

• People around you will want to comment one way or the other, don’t bother… stick to your plan

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Can somebody advise me…

• There are way too many advisors around… • It is your life and only your opinion counts at

the end of the day • You can hear all you want from everybody,

but, you must make your own decisions

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What can we do for you…

• We can help you understand market perspective of your product or service

• Share our experience • Incubate your business, if we like your idea

• Feel free to call Mr. Surya @ +91 80 4147 9204 or write to him Surya@RedApple-Inc.com

THANK YOU….

Contact us for more information… USA +1 973 210 3030 India +91 80 4147 9204 eMail CxOHire@RedApple-Inc.com