r2i forum

has a passion for business or an idea;

wants to create/build or make something on his/her own;

is not lazy and/or would not shy away from any task related to his/her business;

is not averse to taking risks; (calculated risks!)

is not afraid of failing;

is disciplined and organized; (I rate this very high)

has support of his/her spouse; (or other family members)

is not afraid of dreaming success; (optimist?)

b2b;6192I wonder how many of us will come out successful after a similar appraisal![/quote]

Originally posted in the Jokes thread, one could definitely see real life applications for this idea in the small business world.

quantumleap;3798What would be interesting to note on this forum is to poll how many have struck on their own since R2I.

It would be useful if they could elaborate on their experiences.

-Qleap[/quote]

Done, but w/ a broader view/pop. in mind, and thanks for the suggestion.

DosaiLvr;6597A recent discussion I had w/ someone was, how to ditch a long time, but a troublesome customer?
Any ideas?[/quote]

This topic is discussed in marketing classes that cover CRM and Welch is not really a thought leader on this issue. One should fire unprofitable customers just as one would fire a non performing employee. With sensitivity. Attempts should be made to keep the customer by changing his habits and firing should really be the last resort. In business, goodwill goes a long way.

FreeSpirit;18301DosaiLvr,

'My diary' concept is really good to keep track of all R2I issues in a single thread.

You said you'll be self-employed. That's really interesting. If it's not too much intrusion in personal details I have following questions:
1. Did you already setup something or will be doing it after going to India?
2. What line of business this will be?
3. Do you expect self-employment income will cover all your monthly expenses?[/quote]

FS,

I'll answer the questions by giving my opinion rather than getting into specifics about myself.

1. Did you already setup something or will be doing it after going to India?

It will be tough for one to relocate and then start a venture unless s/he has the resources - time and money, to tide over the initial years. IMO it takes 2 to 3 yrs before most new ventures survive, establish and go beyond the breakeven point.

They say that most ventures fail w/ in the first year. Most entreprenuers will not realize any "true" income for the initial 2 - 3 yrs because of growth, reinvestment and/or operating expense prior to reaching the breakeven point.

Also consider the interest (~10%) that could have been earned by making safe investment elsewhere and the salary one could have earned by working elsewhere during that period.

BTW, someone had provided a link to Marty Nemko. Even if some of what he says about Self-Employment may seem very simplistic, I found that Nemko puts in to words that which we may call intuision or gut feeling

2. What line of business this will be?

Service and retail are good sectors to be in. Usually service ventures need less investment and more sweat. Retail is boring and needs higher investments but involves less hassle/risk..

3. Do you expect self-employment income will cover all your monthly expenses?

I believe there are opportunities for those that are willing to take the risk. It's also best to stay diversified even in business.