Describe the detail the process for establishment of a new unit
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Consim Info Pvt. Ltd. (Consim), Red Herring’s Global 100 Winner, is India’s leading Internet brand with a significant presence in all major verticals like matrimony, jobs, property, automobiles, classifieds, loans and more. And the man behind building this brand, J Murugavel, founder and chief-executive officer, follows three key success quotients in business – constant innovations, creative solutions and deeper customer insights. He entered the online matrimony space through BharatMatrimony in the year 1997 and since then, he has launched new business units within the matrimony vertical and outside of it, like indiaproperty.com and clickjobs.com. The Asian Indian Chamber of Commerce honoured Murugavel as one of the top five Asian Indian businessmen in the U.S. below the age of 35. He was also honoured by the India Today Group as the ‘Business Icon of the Year’. A first generation entrepreneur, Murugavel understands the need for mentorship and training early entrepreneurs to get them started in the right direction. In this classroom session, Murugavel gives our readers lessons on how to establish a new business unit and the different factors one needs to consider before scaling up.
“But we have also had to deny many opportunities that came our way. One must analyse whether it is the right time to get into the area of opportunity that is presented to the organisation and whether it is ready for it.”
What is the right time to establish a new business unit? In your case, matrimony was well set, and you decided to expand into jobs and property classifieds among others. So, when is the right time to think about scaling up?
There is no right time to start a new business unit. You get into it whenever you feel it is the right time. However, it takes commitment and a lot of hard work before the opportunity is identified. And most often, one needs to keep experimenting and put in their best efforts before they succeed.
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