HR Experts Opinion Required - How To Convince People For A New Business

I have started a new profession. I am only 23. I am a chartered accountant.

I have started a business in the web world. The business is off to a good start as I have a great technical team, etc. However, as you know, for a web business, you need people, and my problem is that I don't have funds (I am not someone born with a silver spoon). I am a self-made person and do not have wealth!!!

So my concern is, how do I convince someone to work for free, at least part-time for now? Not even 2 hours daily, and they will be paid later in the form of ESOP, or at a rate ten times the payment promised now.

Please reply and also contact me if you are interested in this.

Hi Pulkit,

Just answer my simple question by answering, and you will get the answer to your question: Will you work for free?

Regards,
Monica

Dear Pulkit,

It appears that you have entered into the world of business without making a proper business plan. How come you did not foresee this requirement of recurring expenses?

On the one side, you say that the "business is started well". In that case, why is there no cash flow? Why are you unable to plough in the revenue that you are earning? Anyway, click the following links. Especially the last link will be quite useful to you:

- https://www.citehr.com/241975-i-want...ml#post1109999
- https://www.citehr.com/260478-starti...ml#post1181231
- Strategic Marketing Plan

Thanks,

Dinesh V Divekar

Well, I think Monica has raised the right and simple question. Everybody is busy and not willing to work for free, even for a minute. Time is money, so value your time and money, as well as others'.

Appreciate the answers,

I am not offering work for free. No one will work for free. Please read my message again.

What I require is not an employee but a business partner.

Dear Pulkit,

Firstly, congratulations on starting your own business! I wish you luck.

Your problem does not have a straightforward solution. However, if you think out of the box, you may find a solution.

I am not aware of your business, so I can't comment specifically, but I can point you in the general direction.

You will attract people to work for you only if there is some immediate incentive for them. If you cannot give them money now, can you at least provide them with a chance to significantly improve their knowledge/skills? Even if you promise to pay later, there has to be some kind of immediate incentive for them.

Try approaching colleges/institutes to see if some students are willing to work with you. In return, you can offer them a letter of recommendation, internship, etc.

Also, explore the possibility of offering some kind of commission to anyone who brings you business. This way, you can at least start your cash flow.

By the way, it's very easy for people to give you straightforward opinions that no one will work for free. They are right in a way, but if you are persistent and think unconventionally (because your problem is unconventional), then you will definitely find a solution.

P.S. If you are convinced about the prospects of the business, have you considered approaching any organization/individual who funds startups? Check on the net. If money is the only hindrance, you can explore this option.

Anyone who wants to join can join. For benefits, they can talk to me.

Dear Capulkit,

Congratulations! As a CA, you are well-versed in the intricacies of business ventures, which are, of course, inherently risky. Did you not plan ahead before starting how you would manage the vitamin "M"? Do not worry; there surely are like-minded individuals in Bangalore who would be willing to lend their support. Utilize all the available media platforms. Post your request on Facebook, Twitter, and other channels; I am confident that there will be an influx of volunteers eager to assist you. Additionally, share your specific requirements in this forum, and I am optimistic that there will be a few individuals in Bangalore who will be able to offer their help.

All the best, pal.

Actually, I am surprised you are asking a HR forum how you can get money for your business.

If you are looking for a business partner, or many business partners, the question is: what are you offering? How safe/stable are you, and what is the guarantee that you will be able to deliver that benefit.

Dear Monica,

Your question is valid. However, please note that people who contribute here at CiteHR and other similar sites do so voluntarily. Do you know how many hours per week moderators, super moderators, and senior members spend responding to queries, etc.?

Dear CAPulkit,

Please contact me via private message, providing details of the assistance you are seeking and the ESOP you are offering. I am based in the UK, and if it is something I can assist with remotely, I will certainly help you. You can view my brief profile at https://www.citehr.com/467714-coping...-work-pg3.html.

Also, please refrain from reacting to other people's messages. I have edited one of your posts to prevent any potential conflicts.

Thank you.

It's true that people do give a lot of time and effort to free inputs on knowledge-sharing sites and social sites where they wish to establish their credibility. However, will they do the same for a site or a business that is owned by someone and intended for the profit of that person? Of course, I know moderators spend a lot of time on citeHR; I don't know about ownership or revenue share or any benefit that citeHR may have for moderators. I have always had a feeling as if citeHR is not a business but a social forum. Monica's question is still valid. People will not want to work for free most of the time. There must be rewards, and the rewards must be definite with a certain level of certainty that it will get encased.

I tend to agree with Monica and Saswat.

There is a world of difference in working for free for our social responsibilities as a professional and for a commercial venture that entices one with deferred payments in case of the venture's success, which itself is doubtful. One can get like-minded people to volunteer for a cause, but not free labor for a commercial activity.

Secondly, I think the person who posted the thread had been trying to generate traffic for his website, as is evident from other threads that also tend to generate controversy or uproar.

Warm regards.

Dear Pulkit,

Greetings!!!

Exciting idea, email me if I could be of some help.

Coming to your original query, getting people to work for this project will depend on your capability to convince them that it is indeed a great project and they will be getting something out of ESOPs.

Starting with the "Free" word itself is a mistake as you are doling out ESOPs. Try a little harder, look for such people who don't depend on salary income for their day-to-day living, are from the younger brigade, and are more motivated by challenges than money. You may also host competitions at each institute and as a prize, give a couple of individuals a couple of months to work at your firm. In addition to that, you can look for individuals who are out of college but not employed, give them a certificate for working at your place for a contracted time. Post your jobs on sites like freelancer.com and see if someone is ready to work for ESOPs.

Once you have funds coming in, you can always hire people of your choice.