I am an HR professional currently working as the HR head in a manufacturing company. I have been working for 12 years now, while I have always wanted to start my own company. I just came across the February cover story in People Matters, which talks about HR Entrepreneurship and the potential for those in the HR function. What are the profitable HR business opportunities and how can I identify the same and go about the process of starting a company? Do you think it is the right thing to do?
If you truly have the entrepreneurial zeal and the necessary passion within you, there is no dearth of ideas in the environment. Plenty of opportunities exist in the HR as well as broad based management space. Network with many professionals, talk to knowledgeable people, and get guidance from those matured friends who know you well. You should also talk to the entrepreneurs and get their perspectives.
It is indeed very difficult to point out any one opportunity. It all depends on your own expertise, your ability to raise the funds, and your ability to sustain during the initial uncertain periods. Just ensure you have the skill sets and knowledge, necessary to succeed in the opportunity that you wish to pursue. You will appreciate that entrepreneurs need different sets of capabilities from that of the professional managers and also need a different mindset. As long as you are willing to change the lifestyle, and have the ability to take the risks that are associated with any change, just go ahead and plunge into being an entrepreneur. I will suggest that consult your family, get their buy-in, and make them part of your plan after making them aware of the pros and cons.
Vivek is a Senior HR professional with over 35 years of experience, ranging several leadership positions, in India and abroad. He leads his consulting practice since 2003 and presently works as a Strategic HR Advisor to Reliance Industries, and is also an independent Director on the Board of Motilal Oswal Financial Services Ltd. Prior to this, he was based at Singapore for several years where he was Director HR - Operations at Hewlett Packard for the Asia Pacific Region.
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