R2I as an Entrepreneur -- Chicago to Mumbai!!

[trueindian]

The much awaited day has finally arrived. On Monday, I informed my company about my decision to return back to India for good. You may read my business background, dilemma, financial background etc here:

http://www.r2iclubforums.com/forums/showthread.php/19626-R2I-Dilemma-Is-wait-for-GC-any-worth

In last 6-8 months, things changed significantly. I re-evaluated my business plan and went with a significant different approach that required less prominent physical presence in India to begin with. I wanted to test the waters before I leave for good. My website have started to do significantly well and is now ranked in first 10k in India. :))

I started to make some decent revenues (good enough that I got the necessary re-assurance in myself that I can hopefully take it to next level.)

Increased Load


Obviously, with running business in India and full time job in US, I almost had to sacrifice my social life. It became increasingly difficult for me and I knew, that I may not be able to continue like this for too long.

Long working hours, working weekends started to make me a boring person :))

But I knew, the day would come!!

2011 turned it around

After significant hard-work from Aug 2010 to Dec 2010, January saw a huge bump in traffic and sales. The efforts were finally getting rewarded. I earned my sweetest 300$ in January. Obviously, its not profitable business yet but the traffic has been consistent over last 2 months and a community is getting built and people seem to appreciate it.

Appreciation from Colleagues and the BIG SURPRISE


Once I got some revenues, I also told my manager about my application and he greatly appreciated it. Generally, People in States are quite supportive when they know about your Entrepreneurship plunge. Eventually it reached to my CIO and he was very excited about it since he knew about recent growth of E-commerce in India.

Luckily, in my company where I work, people are very supportive of entrepreneurial kind and it just gave me the much needed boost.

Talks of Funding


Though, its still in initial stage, My CIO expressed a desire to invest in my "hobby project". I was quite astonished by it since I always underestimated my project, I guess. I learnt that he has started his own angel investment firm and have funded multiple projects in emerging countries (not India yet)

I and my partner are still deciding and learning about the implications involved in funding and the liabilities etc... We are certainly excited to have him by our side since his experience will greatly help us and he is a great guy!! If anyone has any suggestion regarding the funding thing, do let me know. i will be so grateful.

Though, the funding thing is quite exciting and glamourous, we are still trying to valuate our company and our future revenues stream etc.. Obviously I am technology guy so catching up with all this :)

Pending Home Loan

My only major concern was the pending home loan of around Rs. 50L and almost nil net revenues for next 1 year or so. So, working full time on my "hobby project" was essential, I was looking for another source of income to make a smooth transition.

Work from India


I proposed the Idea of me working part time from India on Monday. And yesterday they accepted my proposal and gave me a really good offer. I dont know whats considered to be good. But basically they offered me an hourly rate private contractor job. They allowed me to select number of hours but anything above 10 hours as they said 10 hours will be valuable. I was humbled by the respect shown :p I actually love this company (if I did not tell you before)

All my anxiety of returning to India went away as now I will have a stable enough income while I work for 20 hours and rest of hours with my hobby project. Things just starting to fall in place :)

The rate they have offered me is my current hourly rate * 1.25 (to include benefits I will lose like Long term bonus, insurance etc). 50$ an hour to be precise. I did not do much research but I believe its great. I verbally accepted the offer today without any further analysis.

The only catch is its currently a 3-month contract but they will be willing to extend if they see that I can deliver from India while I do my business.

Return

Ok, I bored you enough guys!! So, March 18th is my last day as full time employee and I will be flying back to vatan on March 22nd or 23rd!!!!

I will let you know how it goes and will try to keep you guys up-to-date on how I do with my business too.

Thanks guys for this wonderful forum.

If anyone has gone via the funding route or have any knowledge to share, please do. You dont know how much I would appreciate :))

Cheers to ALL!!

[trueindian]

(reserved to maintain the next month diary)

[trueindian]

(reserved to maintain info about first 3 months in India)

[diva]

Hey, congrats for taking the plunge - R2I as well as business.

Was curious, what business have you started. Any website for us to learn more ?

[dbs]

Great man. You have really done wonders.
Best of luck with your venture.
_______________________________________
If the shoe fits, get another one just like it.

[idlebrain]

An inspirational diary is getting ready, I am glued to this. Keep it coming "trueindian".
I wish you all good luck with your entrepreneur skills.

[r2i_maa]

wonderful..I wish you good luck..Please do post us your updates.

[hello81]

great thread.. keep it going...

[r2i-mumbai]

Congratulations for taking the entrepreneurial leap. I read your previous thread as well and you look passionate about your venture. No one can beat a person who is pursuing his passion. best of luck.

[ilmindia]

Wish you all the best! You are in a very good situation. I am sure you will succeed. :thup: