If you have a desire to be a successful business and want to build it from a scratch, than follow these guidelines to be successful in first venture itself; else you will be burning your hand and than learning and becoming successful after having dumped three businesses.
- Aviation and businesses which require continuous raising of equity are best avoided in the current scenario. Obviously a new starter will not venture in aviation business as it requires deep pockets.
- Do not go for ventures which have long gestation period.
- The thumb rule we follow is in any growing business, by the third year they should generate free cash flow from operations. The reasoning is somewhere at some point in time growth has to deliver cash.