EP 5 of 40 - Business Mastery Series | By Sandeep Maheshwari | Hindi

Summary

The transcript discusses the challenges and considerations of starting a food and beverage industry startup. It emphasizes the importance of gaining experience in smaller establishments before venturing into larger operations or opening one's own bakery. The speaker advises against taking loans for business due to the associated risks and suggests starting small, learning the ropes, and gradually scaling up. The conversation highlights the need for a clear vision, financial planning, and the potential for growth in the industry, while also considering the long-term implications of one's career choices.

Takeaways

• 😀 The individual is considering starting a business in the food and beverage industry, specifically focusing on bakery and pastry.
• 📚 Currently, they are pursuing a specialization in bakery and pastry, following a background in hotel management.
• 🕒 The specialization course in bakery and pastry is six months long and covers a range of products including cakes and cookies.
• 💡 The script suggests that starting a bakery business does not require a significant initial investment in machinery, keeping the costs low at the basic level.
• 🤔 The person is debating whether to start their own business immediately or to work in a job first to gain experience and save money.
• 💼 If they choose to work, the expected salary range is between 15,000 to 20,000 rupees, and they plan to work for at least two to three years before starting their own venture.
• 💰 The individual is concerned about the financial aspect, as they do not currently have the funds to start a bakery shop and are considering the potential earnings from a job.
• 🚫 The script advises against taking loans for starting a business due to the risks involved and the potential for getting trapped in debt.
• 🔑 It is emphasized that gaining experience by working in a bakery, even a small one, is valuable to learn the ropes before starting their own business.
• 🔍 The person is encouraged to research and identify small-scale bakery businesses that are operating successfully with a low investment and good profit.
• 📈 The script outlines a strategy of joining a small bakery to learn the business, then planning and gradually building up to starting their own venture with a clear long-term vision.

Q & A

What is the individual's current educational pursuit related to their career interest?

The individual is currently pursuing a specialization in Bakery and Pastry, as part of their career interest in the Food and Beverage Industry.

What is the individual's dilemma regarding starting their own business versus working for someone else?

The individual is unsure whether to start their own business immediately or to work for someone else first to gain experience and financial stability.

What is the duration of the specialization course in Bakery and Pastry that the individual is currently taking?

The specialization course in Bakery and Pastry is six months long.

What are the basic skills that the individual will learn within six months of their specialization course?

Within six months, the individual will learn to make various bakery products such as cakes and cookies.

What is the advice given regarding the initial investment needed for starting a small-scale bakery business?

The advice given is that the initial investment for a small-scale bakery does not have to be very high, as basic machinery is not very expensive.

What is the individual's concern about starting their business without having sufficient funds?

The individual is concerned that they do not have the necessary funds to start their bakery business and is seeking advice on how to proceed.

What is the alternative option suggested if the individual decides not to start their business immediately?

The alternative option suggested is for the individual to work in a bakery to gain experience and save money for future business endeavors.

What is the potential salary range that the individual can expect if they choose to work in a bakery?

The individual can expect a salary range of 15,000 to 20,000 rupees per month if they choose to work in a bakery.

What is the advice given about working in a large establishment versus a small bakery in terms of learning and future business prospects?

The advice given is to work in a small to medium-sized bakery where the individual can learn the entire operation, rather than a large establishment where they may only learn a specific role.

What is the individual's concern about the long-term implications of choosing to work in a job versus starting their own business?

The individual is concerned that if they choose to work in a job, especially in a large establishment like a five-star hotel, it might become very difficult to leave and start their own business later due to the comfort and respect associated with such a job.

What is the advice given regarding the individual's potential plan to work for two to three years before starting their own business?

The advice given is to be clear about their goals and to save enough money during the working period to ensure that they can start their business without financial strain.