About Me

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Mumbai, India
I run an IT Security consulting firm based out of India. We started off from scratch in 2001 when I was 21, and have offices in Mumbai, Bahrain, and UAE. The idea behind the blog is to share the stories of how we run the business, the deals we make, the deals that break, the heartburn, and the sheer joy.

The Ultimate Startup Guide

The Ultimate Startup Guide is an e-book that provides answers to all your questions related to starting and growing a business in India. Everything you wanted to know about entrepreneurship in India from ideation to registration to marketing to hiring. The book contains a large number of practical examples, anecdotes, interviews, and motivational material to help you get started, and to grow rapidly in a booming Indian economy. If you've got the idea, this book will help you through with the execution and realize your dreams. Here are some of the key questions you will find answered in this book:
  • When starting a business, what are the legal issues involved?
  • What form of incorporation is better suited to which type of business?
  • What tax issues are involved?
  • How do I start a business and what are the pitfalls?
  • How do I market my business in the absence of significant funding?
  • How do I get funded?
  • What are the basic accounting concepts I should be aware of?
  • What is a business plan and how should I build one?
The brief table of contents of the book is as follows:
  1. Getting started
  2. Ideation
  3. Forms of Enterprises
  4. Funding
  5. Basic Accounting and Taxation
  6. Import and Export Licensing
  7. Trademark and Patenting
  8. Rules for NRIs and Foreigners
  9. Building a Business Plan
  10. Marketing on a Shoestring
  11. Website and Branding
  12. Women Entrepreneurs
  13. Templates
To order the Ultimate Startup Guide - email me at kkmookhey@gmail.com.

Details of the book are:
Title: The Ultimate Startup Guide
Author: Kanwal Mookhey
Pages: 150
Additional: Companion CD contains numerous templates for building your business plan, calculating cashflow, preparing profit and loss, and balance sheets, preparing invoices, your resume and profile, marketing material, websites, contracts, and many other useful and motivational material.

Wednesday, May 17, 2006

Multi-level marketing or network marketing


Before I even begin - let me unequivocally state my stand on multi-level marketing - don't do it! Yes it works for some people, and yes it just might work for you as well. But at the end of the day, the effort and skills required to make it work might just as well be put into an enterprise of your own, and I can guarantee you'll do many many times better.

Here's a brief intro of what these are. Essentially, they're pyramid type schemes, where someone convinces you to join in, and buy goods through him/her - also known as your uplink. And you then need to convince others to join into your group, and they become your downlinks and so forth.

I have spent quite some time studying and reading up on this, and here are some of the best reasons not to get into this:
1. It's not something you can do part-time. All that is bs. This is something that will require a lot more effort and persistence than you can every imagine.
2. It's not something that lets you control your time. Sorry, simply not happening. Most people start of thinking they can hold onto their day jobs while they do this. But that doesn't work. The only successful people in MLM are those who do it full-time and then some.
3. These are pyramid schemes. Outlawed in most states in the US, companies such as Amway are now pushing into China and India where laws pertaining to pyramid schemes are vague.
4. You cannot keep earning if you stop working. They often tell you that you can continue to earn through your downlinks. But that's simply not true. As soon as you stop showing the plan around, your income drops.
5. The money really comes through the tapes and the training material. There are some excellent resources out there that do the math. There is simply no way for you to make money selling FMCG goods. The real moolah comes from the tapes and other training material.
6. It's not fulfilling. It really isn't. It's simply depressing to keep selling the same fake story to your friends, family, and others, when you know it's all hollow.
7. You will lose friends. Every time you try to con someone into attending an MLM seminar or listen to tapes or buy the kit, and they drop out of the program, they're going to dislike you from that time onwards. In fact, eventually most of your friends circle will consist solely of people who're in the program.

Resources:
1. Merchants of Deception - free e-book. Excellent insider's point of view.
2. Amway - the Untold Story - very informative
3. MLM Survivor - website with a number of good resources
4. Dateline show on Quixtar

17 comments:

Can't C Me said...

I know these schemes only too well. Even with all the laws in the U.S. and Canada that make pyramid schemes illegal, companies have found a way to get around it.

A well-known example is Citibank's Primerica whose recruiting tactics are akin to pyramid schemes. If you ask me, Primerica is a big fraud!

Intrepid said...

I had no idea the big guys were into this as well. The funny part is how the smartest people get tangled into this. It's almost a sociological problem rather than an economic or business issue.

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Ken said...

I'd say there's good and bad in every type of company or enterprise...Stake your livelyhood in Enron won't you?

I retail premium dog food and have lots and lots of satisfied customers because the product is good. I don't push the MLM business opportunity on anyone. Some pet owners simply come along to earn a little and get their pet food effectively for free.

Ken

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