For my electronics hardware design and development startup, we are going to start from scratch. We will design and develop hardware (PCB/circuit board of any electronics product) based on customers' needs. Prospective customers will include electronics product manufacturers or electronics OEM manufacturers globally, for whom we can design and develop circuit boards tailored to their product application requirements. The projects will be completely project-based, with circuit designing taking place in-house at our office. PCB manufacturing will be outsourced to third-party PCB manufacturers, with final testing and quality checks done at our office before delivering the PCB product to the customer.
To initiate business operations, I need experienced sales and marketing professionals from the same industry to identify target customers, reach out to prospective clients, market our services, and secure projects from India and worldwide through their marketing skills. Initially, our focus will be on field marketing to generate revenue before investing in digital marketing.
Subsequently, we will require a technical team consisting of an Electronics Engineer for design work, another Engineer to oversee production at the third-party manufacturer's plant, and a third Engineer for final testing and quality checks pre-delivery.
Furthermore, I need individuals to support me in HR, legal, administrative, and accounting activities. A responsible individual is needed to manage overall business operations, ensuring smooth revenue generation and eventual team expansion for increased productivity.
Initially, the target is to generate around 5 lakhs/month or 8-10 projects/month with the help of the essential staff mentioned above, with plans to gradually expand the team. Staff salaries will be covered by the monthly revenue initially, as there is no financial backup at this stage.
I seek guidance on naming various departments, essential staff positions (along with the number of positions for each post), job descriptions, and strategies to achieve the revenue goals and team expansion in the future months.
Thank you for your assistance.
From India, Jalalpur
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To initiate business operations, I need experienced sales and marketing professionals from the same industry to identify target customers, reach out to prospective clients, market our services, and secure projects from India and worldwide through their marketing skills. Initially, our focus will be on field marketing to generate revenue before investing in digital marketing.
Subsequently, we will require a technical team consisting of an Electronics Engineer for design work, another Engineer to oversee production at the third-party manufacturer's plant, and a third Engineer for final testing and quality checks pre-delivery.
Furthermore, I need individuals to support me in HR, legal, administrative, and accounting activities. A responsible individual is needed to manage overall business operations, ensuring smooth revenue generation and eventual team expansion for increased productivity.
Initially, the target is to generate around 5 lakhs/month or 8-10 projects/month with the help of the essential staff mentioned above, with plans to gradually expand the team. Staff salaries will be covered by the monthly revenue initially, as there is no financial backup at this stage.
I seek guidance on naming various departments, essential staff positions (along with the number of positions for each post), job descriptions, and strategies to achieve the revenue goals and team expansion in the future months.
Thank you for your assistance.
From India, Jalalpur
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Importance of a Business Plan
All this information should be in your business plan, which should have been written long before you reach the recruitment stage.
Financial Planning for Business Setup
My other question would be: how are you going to finance the setup of this operation and pay salaries for all those staff members from the start? It seems to me that you have not thought any of this through properly. No business makes money the day they open the doors. It could be at least 12-24 months, and often longer, before you make enough money to start paying suppliers, staff, rent on your factory, etc.
Initial Financial Reserves
Do you have a large sum of money set aside to start this business and be able to pay bills for the first 12 months? Do you have enough money put aside to manage your own personal financial obligations, i.e., household and day-to-day living expenses for at least 12 months? You will not get a salary from this business for a long time.
As I have said many times to other people on this forum also planning to set up businesses, FAILURE TO PLAN IS PLANNING TO FAIL.
From Australia, Melbourne
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704All this information should be in your business plan, which should have been written long before you reach the recruitment stage.
Financial Planning for Business Setup
My other question would be: how are you going to finance the setup of this operation and pay salaries for all those staff members from the start? It seems to me that you have not thought any of this through properly. No business makes money the day they open the doors. It could be at least 12-24 months, and often longer, before you make enough money to start paying suppliers, staff, rent on your factory, etc.
Initial Financial Reserves
Do you have a large sum of money set aside to start this business and be able to pay bills for the first 12 months? Do you have enough money put aside to manage your own personal financial obligations, i.e., household and day-to-day living expenses for at least 12 months? You will not get a salary from this business for a long time.
As I have said many times to other people on this forum also planning to set up businesses, FAILURE TO PLAN IS PLANNING TO FAIL.
From Australia, Melbourne
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Recruitment Plan Template.doc
Business Plan.ppt