Why service based industry is best for India?

Getting funding for new products is the most difficult thing for a scientist, researcher, or an innovator/student to get in India. New product development can only be done by businessmen here who already has sufficient resources to support it. A common man who wants to start his own business can do it but then he has to be at a very small scale like owning a shop or more not more than this. Some exceptions might be there. But the best bet for Indian entrepreneurs to start with is service based industry as this industry doesn't requires a huge investment rather a negligible amount if they are smart enough.

The benefit of this industry is that if you have a client base of even 2-3 clients then you can first do the work, charge the fee and continue to invest it in other areas of service or products rather than first investing money in a single product development which might succeed or in worst case scenario fail too. On the contrary service providers has to invest nothing significant rather, first they have to concentrate to on delivering service and receive money for it to try out with investment options in products etc later.

Indian IT industry succeeded because of this only, earlier nobody understood the potential of IT in India due to lack of awareness and knowledge. But when few smart people recognized that service based IT can work wonders even without a large initial investment than construction, petroleum, textile firms etc requires. They flew with the idea and now see the consequences of it India has the world's most profitable IT industry an this fact is not hidden from anybody.

So I would like to share this idea to all of the budding entrepreneurs to first start with any kind of consultancy in the field in which you have the knowledge or experience, and then later you can carry on investing in any proposed products of yours. Build manufacturing industry gradually from service based industry which will not also give you more exposure but also funds to support your future plans :)

College from where one study matters or talent in oneself?

I want to answer this question from my personal experience. One day my childhood friend accompanied his father to my place at that time some more friends of mine were at my place. We had a good chat about our school days. But then the topic changed to life, marriage, and future plans. My friends started talking about their respective companies they were working for. Everything was going fine suddenly my friend's father asked about each one their respective payrolls which was largely personal subject but still everybody extinguished his curiousity honestly.

But then the real reason for me writing this blog post started. My friend's father told everybody proudly that his son owns more than a majority of us all present there. He took pride in boasting that his son has outperformed all of us present there. The reason being that his son studied from an National Institute of Technology and not any one of us studied from any such reputed college. He was sarcastically making fun of us all. But I did'nt interfered in between I let him speak and unnecessarily poke us.

Later when they left everybody was irritated and a little angry about all this. The feel of the moment changed from peaceful to annoyance. But then I realized it and took each one of friends to motivate them. I told one of my friend that he has been selected by a multinational in which that dad's son failed to pass. Another one came from IIT after doing research and earning name and fame more than anybody among us. One owned his own business startup and the other had the hottest girl of the college as his girlfriend ;)

But the dad's boy had nothing he just crammed all the lessons since he was in kindergarten he did not have any applied knowledge skills just percentage to support him and a college who did not help him get the job. My friends realized that I was true, nobody had internal satisfaction in what they were doing due to a college but due to their self efforts and knowledge. College played no part in a computer science graduate friend of mine in taking over dry fruits business from his father and expanding it, or helping an IT engineer enter nanotechnology field and do research in it to develop awesome products. It was their will my friends what made them what they were now. But that friend of mine who came with his father is still slogging in an IT company doing the work he does not like as he only crammed up all the data, code etc to succeed temporarily.... this was what he learnt from NIT :)

So my friends I would like to tell you that colleges just helps us decide what we wanna do with our lives, they give us the direction and opportunity to learn and experiment, not to cram up things just to pass and later boast about it unnecessarily. In this present date all of those of my friends who were present there earn twice what that guy earns and has earned more reputation in their work than him. But he still is trying to play tricks to get an opportunity to go onsite via company sponsorship :)

The lesson is that it depends on you what you wanna become no obstacle can come in anyone's life who wishes to learn, no college or teacher matters to the hungry mind...only self motivation and self respect does....So cheer up my friends no matter you have not being selected in an IIT, NIT or REC. You can still succeed like me and my friends...just show the world your courage and don't get de-motivated or intimidated by people who don't understand the potential in you.