Help me to make out my career plan.

[aim-wsc]

Dear senior people Before I shoot my questions heres My background: I am 24 years old, have just started an engg. design consultancy firm with my college friend. I have been working with my father in his engg workshop since childhood and now to get good marker & sales I am considering a consolidation option with the other factory in our town. In the process of doing all this stuff I realized a new found appreciation to the entrepreneurship as a career. Currently I am working out the business plan for these companies…. Now I have a query here: People please advise me on how I can excel in this profession? How can I sharpen my skills to move on life. (in entrepreneur as profession) When & which MBA would suit my needs? Note that I am considering foreign MBA preferably from USA. Can you draw a neat plan for my career? My short term plans: to make some good profitable firms… Long term plan: join in band of angels & maybe launch VC fund …long term ofcourse. ps: mods, i thought this is the appropriate forum for such queries thank you.

[MartianOnEarth]

"Can you draw a neat plan for my career?"

Hmmm. Interesting way to request for help.

Guess you'll have to draw up your neat plan yourself. But hopefully some tips that might help.

For any kind of an entrepreneurial initiative, a healthy combination of the following will help

- domain knowledge,
- industry contacts,
- ability to attract and retain good employees
- an overall understanding of all aspects related to business

An MBA can help you address points 4 and to some extent point 1 and 2, if you choose a bschool that has specialisation options in your chosen field (sports management, operations/logistics etc).

Post MBA if you join a consulting firm or an industry player in your chosen arena, you'll expand on your domain knowledge and industry contacts.

Point 3 is something you'll have to work on yourself. Involves a lot of experience and gut feel, to finetune this aspect.

Membership to the 'Band of Angels' is by invitation only and if you look at the profiles of the current members, it is quite an impressive bunch.

Good luck.

[Psychodementia]

Originally Posted by aim-wsc

My background: I am 24 years old, have just started an engg. design consultancy firm with my college friend. I have been working with my father in his engg workshop since childhood and now to get good marker & sales I am considering a consolidation option with the other factory in our town. In the process of doing all this stuff I realized a new found appreciation to the entrepreneurship as a career. Currently I am working out the business plan for these companies….

Okay

Originally Posted by aim-wsc

Now I have a query here: People please advise me on how I can excel in this profession?

Are you asking how you can excel in entrepreneurship or in this engg workshop thingy ? What is your definition of "excel" ? The next Mittal ? If there were a "secret formula" for succeeding in business wouldn't I be publishing a book and making millions myself rather than posting on this forum Food for thought

Originally Posted by aim-wsc

How can I sharpen my skills to move on life. (in entrepreneur as profession)

Woe ! You want to be an entrepreneur or need to know what you need to succeed in it ? Well, I read this about Steve Jobs someplace. Jobs, had, what friends and people known to him called the "reality distortion field" around him. Which means he was so passionate and kick-ass about whatever he wanted to do that even the most absurd of ideas would sound wonderful.

Add gumption/gall/chutzpah to the above. The ability to take risks and chuck away the warmth and comfort of your socio-economic coccoon in the single desire to get what you have perceived as your dream. Ask anybody at the PG HQ and they will tell you how life is like a start-up.

Voila ! Add the above and you have the perfect reciepe for success.

How you can do it ? I skip the question

Originally Posted by aim-wsc

When & which MBA would suit my needs? Note that I am considering foreign MBA preferably from USA.

Seriously though - rethink the question. Do you want to do an MBA purely for Entrepreneurship ? If yes, then consider Babson. If its general management skills and great networking opportunities you want then any of the M7 schools would do.

Originally Posted by aim-wsc

Can you draw a neat plan for my career?

Great ! Lets play this game - you draw my career plan and I will draw yours

Originally Posted by aim-wsc

My short term plans: to make some good profitable firms… Long term plan: join in band of angels & maybe launch VC fund …long term ofcourse.

I subject a thought for your perusal - "Do you think you can *predict* with any degree of accuracy career success ? Methinks not

I think as a 24-year old you are brimming with ideas and I don't want to kill your morale by being the devil's advocate. But I think just sit back and think on a few things:

(a) What are you truely passionate about in life ?

(b) What do you think are your best skills ? skills you can bring to the table not stuff like "leadership" etc which are intangibles.

(c) What are your weaknesses ?

(d) Given your background what do you think can do with the above 3 points ? (I mean as a career)

Now slowly ruminate. Talk to seniors. Meet a career counsellor (if you are in Bangalore - PM me we can rap). And let all the ideas flow for a few months. Then I think you will be in a less confused state than you are now.

Originally Posted by aim-wsc

ps: mods, i thought this is the appropriate forum for such queries thank you.

Its appropriate though I would not advice you to start a thread for this query. You can post in various help and career threads already opened.

HTH,

Arun

[baccardisprite]

Aim-wsc,

I couldn't have put it better than psychodementia above.

Good luck

[aim-wsc]

Thankyou people

Originally Posted by MartianOnEarth

"Can you draw a neat plan for my career?"

Hmmm. Interesting way to request for help.

Guess you'll have to draw up your neat plan yourself. But hopefully some tips that might help.

Ofcourse i will have to draw up plan by myself. no issue.

For any kind of an entrepreneurial initiative, a healthy combination of the following will help

- domain knowledge,
- industry contacts,
- ability to attract and retain good employees
- an overall understanding of all aspects related to business

An MBA can help you address points 4 and to some extent point 1 and 2, if you choose a bschool that has specialisation options in your chosen field (sports management, operations/logistics etc).

Post MBA if you join a consulting firm or an industry player in your chosen arena, you'll expand on your domain knowledge and industry contacts.

Point 3 is something you'll have to work on yourself. Involves a lot of experience and gut feel, to finetune this aspect.

Membership to the 'Band of Angels' is by invitation only and if you look at the profiles of the current members, it is quite an impressive bunch.

Good luck.

thats a real perfect concise reply bro! thanks.

[aim-wsc]

Thanks psycho d big-daddy
OK letme see how good i can dissect your reply

Originally Posted by Psychodementia

Okay


Are you asking how you can excel in entrepreneurship or in this engg workshop thingy ? What is your definition of "excel" ? The next Mittal ? If there were a "secret formula" for succeeding in business wouldn't I be publishing a book and making millions myself rather than posting on this forum Food for thought

I said in this profession, so in entrepreneurship of course.
thankyou.
You are right theres no sucess formula.

Woe ! You want to be an entrepreneur or need to know what you need to succeed in it ?

No. I dont wanna kno what you need to succeed in it. I have DONE my SWAT analysis
yeah you're right about the former though. i want to be an entrepreneur.

Add gumption/gall/chutzpah to the above.

thankyou i have added these words in my quick link dictionary.
Now i can check the meaning whenever i want

The ability to take risks and chuck away the warmth and comfort of your socio-economic coccoon in the single desire to get what you have perceived as your dream. Ask anybody at the PG HQ and they will tell you how life is like a start-up.

Voila ! Add the above and you have the perfect reciepe for success.

OK jokes apart thats a great answer.

Seriously though - rethink the question. Do you want to do an MBA purely for Entrepreneurship ? If yes, then consider Babson. If its general management skills and great networking opportunities you want then any of the M7 schools would do.

OK this is the point i would like to hear more.

yes.
MBA I think because i need the legal education for doing business.
....how business works
how money rolls.....how system reacts....MBA would definitely be fascinating MBA from a good college ofcourse....
& it also depends on how much you can reap...your ability to reap.

Great ! Lets play this game - you draw my career plan and I will draw yours

are you serious?

I subject a thought for your perusal - "Do you think you can *predict* with any degree of accuracy career success ? Methinks not

but then if i hadnt mentioned about the goals you d have said that i am unfocussed.unclear in my thoughts....

I think as a 24-year old you are brimming with ideas and I don't want to kill your morale by being the devil's advocate. But I think just sit back and think on a few things:

(a) What are you truely passionate about in life ?

(b) What do you think are your best skills ? skills you can bring to the table not stuff like "leadership" etc which are intangibles.

(c) What are your weaknesses ?

(d) Given your background what do you think can do with the above 3 points ? (I mean as a career)

Seriously, I am begining to learn/understand my weaknesses and my strong points.

yeah thanks.

HTH,

Arun

Hope?
com'on

PS:. i consider you as a buddy , a closed net friend ,,,,thats why i replied you in light- homouros manner although i respect you and your posts a lot. i hope you dont mind.

[nonedone]

Originally Posted by aim-wsc

No. I dont wanna kno what you need to succeed in it. I have DONE my SWAT analysis

SWOT my friend. Unless you mean your Opportunities are actually Actionables

[aim-wsc]

did i actually typed that? SWAT

Man, this site has some problems lately ....i couldnt able to edit my posts ...
see i had started this thread with neatly organised (with paragraphs) text but end up a compressed one....
anyways thanks for pointing out that buddy.