1. I have zero knowledge of motors but I want to learn from basics.
2. I am currently doing a job at 3Shul Motors (motor controller manufacturing)
3. I am Having minimal budget which I am saving from my salary.
4. 
   
   
   

 

You are in a tough spot. In order to start a business, you need to understand the technology AND you need to understand the market. At this point you do not understand either. Saving from a salary is not an adequate plan for funding your retirement let alone providing the capital required to start a business. You need to get to a point where you can attract investors by writing a top-notch business plan.

In short you are currently doing everything wrong. Your chances of success appear to be vanishingly small. This problem is solvable, but it requires a different approach.

 

One good route to starting a business is to work in that business for 10 years or so, learning as much as you can about all aspects of it.

Another is to have (or raise) lots of money and hire the needed expertise.

 

Question; do you have a full business plan?

Back in 1978 I had a similar dream like yours: to found s company which would manufacture and sell electronic products that I designed.

I actually incorporated a company, invested several years of savings plus additional funds that my father and some relatives loaned me.

The products were excellent, at a reasonable price and worked as promised. Yet, two years later, after toiling 24/7, the company went bankrupt. I lost all my own hard earned savings. My father forgave the debt, but I had to sell my vehicle to pay the relatives. I ended completely penniless.

What was my mistake? The same one that you are committing right now: I didn’t have a business plan. It was a brutal life lesson.

I won’t get into the hundred different details that a good business plan requires. But I would advise you at the very least watch the TV series “Shark Tank”, so you will have a slight idea of the grueling questions that a professional investor could ask. The professional investor will be more challenging, I can assure you that.

 

Question; do you have a full business plan?

Back in 1978 I had a similar dream like yours: to found s company which would manufacture and sell electronic products that I designed.

I actually incorporated a company, invested several years of savings plus additional funds that my father and some relatives loaned me.

The products were excellent, at a reasonable price and worked as promised. Yet, two years later, after toiling 24/7, the company went bankrupt. I lost all my own hard earned savings. My father forgave the debt, but I had to sell my vehicle to pay the relatives. I ended completely penniless.

What was my mistake? The same one that you are committing right now: I didn’t have a business plan. It was a brutal life lesson.

I won’t get into the hundred different details that a good business plan requires. But I would advise you at the very least watch the TV series “Shark Tank”, so you will have a slight idea of the grueling questions that a professional investor could ask. The professional investor will be more challenging, I can assure you that.

Lack of a business plan is a surefire road to perdition.