As a fresher , want to start a company . Is work experience necessary?


#1

I will be graduating in May 2016 as Computer Science graduate . We are in a team of four people who want to start a venture . We are doing 1 live project for a food processing factory and we can get more projects in the future . I have very less technical knowledge . I am in learning phase . I am placed at Accenture India LLP. It’s a multinational company . I am confused that should I go for the job or start a Software based startup with my team mates . One of my team mates is very technically sound . One is strong at business end , and the last one is Digital Marketing . I want to do work what I like , and I am doing that in my startup . So my question is should go in a company , gain some knowledge and real life experience , become technically sound and then come here to start a software company or I should believe in myself and go with team mates for my software company


#2

Hi,

You should go for starting a company only if you are ready with plans and know what and how are you going to do it. You should be ready with proper planning and clear written tasks. Starting a company requires various tasks, more work but you will learn more.

The best time of taking a high risk in your early stages of life… So you should go for startup. Read an inspirational story of 16 year old entrepreneur at below.

http://startupsforum.in/t/launching-a-startup-when-youre-16-teentrepreneurs-mystory-lycan-bot/251?u=chitra


#3

Thanks a lot for the helpful answer


#4

Hi Shubham,

We at KCC Consulting and Advisory Services, are helping young entrepreneurs with the consultancy required for floating a company and other legal compliances required for startup, with all sort of advisory relating to starting a business. Our scope of work include advisory relating to business structure, company formation, Registration of IPR, valuations for investment, Agreement (Founders and Shareholders) etc.

You may get in touch through an email to malvika■kcccas.com.

Thanks
Malvika
Associate Consultant
KCC Consulting and Advisory Services Pvt Ltd


#5

Hi Shubham,
A software based startup sounds like an excellent idea.
The very fact that you have a good team and you feel you are contributing towards it in your fullest capacity indicates you are going through a purple patch.
My friends and i started a dotcom way back in 1998 when we were still doing our undergraduate course, and again in 2002 the most promising engineering graduates amongst our batch all decided to do something on our own.
Bottom line is that the euphoria that surrounds doing things independently is unmistakable and can draw you into making some very interesting decisions with regards to your career, which might in the long run create difficulties for you , especially financial and social :smiley:
The three biggest problem ive faced is that sooner or later,

  1. one or the other talented persons will back out due to personal / professional reasons
    2)the projects / revenues become very seasonal
  2. as amateurs the trouble is not in writing good software, but to get customers to sign the cheque.

If you feel that the three reasons mentioned above are not applicable in your case, then i think you should give your startup a try. What you should be looking for is to come up with a good valuation (>500K -1Million $)for your startup within a year or so if possible, considering you have a superb team in place and already have a foothold in the food processing industry. That way you guys will have enough focus to last a year out , even if your fortunes dwindle.

The technical / managerial skills you learn in the year you are not employed, and are at your startup will ensure that you are not treated as a fresher.
But do your friends a favour, and give them a sign very much well in advance if you are planning to quit the startup, coz at the end of the day friends are far more important than making money!

Hope this advice was helpful.

Regards
Ron Abraham


#6

Thanks a lot , It was a great help . As we are doing market survey , we are still figuring out our clients and projects . First reason is not applicable in my case .
But yeah other 2 reasons are of my concern . I still have to figure it out . Thanks for the reply


#7

Starting in any new field requires the knowledge of that field . But as you are saying you have one person for each field who can handle this, we all know knowledge always should be driven along with some experinces.
I will suggest, you to become part of your related industry gain some knowledge and come up with a proper plan and the market research . This will empower you idea and reduce the risk of failure.

All the best.
Regards.


#8

Love your curiosity for starting your own business, very few have those feeling at an early stage.
But too be frank, as a fresher working with industries will be good choice. There you will learn much and much about how business actually works and as time go you will automatically get to know about where you have to move or what you will select.

Because Myself personally have face those story, mean to say giving your efforts and sweat in early stage will left you nothing whatever you will know is hosting and updating same features again and again which will frosted you.

So, just chill and go and get some experience for about 2-3 years in already setup environment. And then see what you have achieved in those time.