It is not easy to go into business today. The struggle is real. From unequal opportunities to biased perceptions based on ethnicity and race, there are circumstances that we cannot combat even with a high level of education and professionalism.

To my youths who still have business in their mind and are wanting to test the waters - trust me, it is always worth it. Regardless of the challenges and outcome, the lesson and the person you become after venturing into a business is always worth the effort.

Networking

Not only among your circle but people from different parts of the world - from the like-minded to the critics, be friends with everyone. You may never know the business opportunity that lies behind an ordinary namecard. A businessman cannot afford to have enemies - everyone is a potential customer or/and marketer.

While we mingle and blend in the crowd, always keep in mind, that in business too, no relation is too close to seal a business agreement or deal without official documentation/correspondence.

Reimaging

This can be tricky. In a locality where your market research shows that you will not be getting enough customers or business openings due to a factor that you cannot change like your identity or core business nature - reimage your outlook.

Use brand ambassadors to validate your offerings, collaborate with locals who represent the majority of the market pool you are looking into, recruit more locals in your business environment if you are aiming at the immediate locals as your target market. present your business in a more localized feature and if possible, in this country, try to portray the 1Malaysia concept so that you don’t lose on any races.

Although I’m stressing on localisation and reimaging, you must also not forget about highlighting on your uniqueness and differences.

Be different/outstanding ideas

It is simply pointless to be in a competition with others if you do not posses any specialty or difference to stand out - but hey, don’t forget to stay relevant to current market demands as well. People are getting lazier beyond our imagination, so the best way to start being innovative is by starting to enquire on their changing needs. Their feedback will pave the path to the unthinkable service business that you may explore.

Just to name a few based on real market researches; dog-walking service, personal chef service, day care, flea market vending, errand service, house-sitting, pet-sitting, mobile saloon & carwash or cleaning service, child proofing service, personal tour guide service, photo restoration, crowd funding consultancy - have never heard most of it myself.

Keen in IT based ventures? You may want to look into developing apps/inventions that are tech-savvy related to health, healthy living and traditional medications because people are becoming more health conscious these days and life expectancy is also increasing.

And because almost all businesses are going online, you may also venture into tech implementation consutancy, servicing IT equipements, server building company, opening a cyber café or IT-based work space provider, becoming an Internet provider, web designing and social media marketing training, blog writing.

Keep a close watch on the Malaysian Digital Economy Corporation (MDEC) or others like the National ICT Association of Malaysia (Pikom) to see if there any new opportunities or up skilling workshops for you to participate in.

Embrace globalisation.

Invest

Either in property or in another business. You cannot grow your wealth without investing.

Seek for guidance from experts in investments and financial planning to work on this with you. Due to lack of discipline, many cannot opt for a normal saving in the bank account, to help you save and grow the value of your money, invest in properties since young. Your savings amount maintains at the same rate (your loan payback rate) but the value for your money increases every year (properties appreciates in value over the years).

Money earned if not grown is wasted.

Motivational speech

Listen to them daily - chose various speakers from different countries. Too much of negativity around us that it’s easier to loose hope and give up than to make a constructive step towards success. Listen to these speakers daily either in the morning or while you are driving alone.

Read

This is the most common habit of all successful people - knowledge is wealth, read at least one book a month and read business magazines and dailies everyday. Keep an eye on trending businesses and the ever evolving market demands. If possible, read from various resources on the same topic, helps in giving you’re a variety of ideas from different schools of thoughts.

Either online or hardcopy; which ever that is easily accessible. Note to remember; studies have proven that reading from a hardcopy material also serves as stress reliever.

Having said all the above, MIC also has huge responsibilities towards empowering our youngsters through various assistance. I have to say MIC because they are the only and the biggest Indian Malaysian political party in the ruling government.

One-stop business info website

MIC must create a website especially to channel all info regarding business opportunities at the government level to our youths, for example like tender biding. Although this kind of info is always published in the dailies, not many are aware of it or reads newspaper for the say. You can also list out all Indian Malaysian business owners details in the website so it’s easier for us to identify one and exchange as many business opportunities with them.

Create a smooth/fast track approval system

Many document submissions for licensing, government tenders and projects have gone without acknowledgement and mostly we don’t hear about the progress anymore. MIC must create a separate fast track department that looks/follows up on matter pertaining this to avoid unnecessary delays to our contractors/business owners.

Annual Indian Malaysian entrepreneur exhibition

Organise a yearly exhibition where all Indian Malaysian entrepreneurs can take part to showcase their product and services for again the purpose of networking among us and also as an eye opener to other races to witness for themselves what our community is capable of. The event must be of free of charge.

Break inequality

The time has come for MIC to speak up and demand for valid participation without bumiputra partnership in government-linked companies (GLCs) especially in Tenaga Nasional Berhad, Telekom Malaysia and Petronas. People from all races are contributors to their revenue, why the alleged racist stand in their business practices? It’s time you initiate talks on the possibilities of changing this standard operating procedure (SOP).

Blueprint

In fact, youth development should be the main agenda in your blueprint which is suppose to be unveiled in January 2017, they are our future and investing in activities that can enrich their lives is the best effort to save our community.

Many more can be discussed on this topic - but the most important is to get started rather than just talking and for the youths themselves, be proactive and start shaping your future without being dependent on others.

S GOPINATH is president of the Malaysian Indian Network of Entrepreneurs Association (1MINE).