Mastering Business Transitions in India

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Business transitions are an inevitable part of life. Whether someone is starting a business, switching industries, or switching positions, transitions will always present obstacles. This is especially true in India, where the number of positions available, in addition to economic, cultural and social issues, can complicate the path to mastering business transitions.

A career transition often comes with exciting possibilities as well as many worries. To make the best of a career transition, it is vital to have detailed knowledge of the industry and the various options. This blog post will focus on certain key aspects of mastering business transitions in India, including salary trends, real-life stories, potential challenges, and some actionable steps to make the transition easier.

Average Salaries in India to Help With Transition Planning

When making the choice to change careers, it is important to consider the salary range associated with the new position. For an employee in India changing careers, the average salary range for most jobs can be found on job websites. Additionally, salary reports from major consulting firms may offer an additional insight into salaries for a given position in a particular location.

For example, a career transitioning to well-paying companies such as Microsoft, Amazon, and Morgan Stanley may entail a salary of Rs. 8 -12 LPA. According to a salary survey conducted by PayScale, a software engineer at Microsoft can expect to earn around Rs. 9.5 LPA; Amazon has a range of Rs. 8-14 LPA; and Morgan Stanley can offer up to Rs. 12.8 LPA. On the other hand, entry-level roles, such as those of customer support and content writing, may have a salary range of Rs. 2-6 LPA.

Examples of Good Transitions to Model

When transitioning from one career to another, it is1 beneficial to learn from the stories of people who have already been through the process. One such example is Dheeraj Bhartiya, the Co-founder and Chief Product Officer of Times Internet. In his past, he had worked with GlobalLogic in the USA as a software engineer, but decided to return to India. He thus decided to move back to India to set up a software start-up, based on his experience in the industry.

Another example is that of Vijay Batra, a successful entrepreneur in the Indian start-up ecosystem. Batra was a telecom executive for 10 years and had been credited for transforming BSNL into the top service provider in India. He retired from BSNL in 2015, and decided to switch careers to become an entrepreneur, setting up Udaan, a B2B ecommerce company. Udaan is now a unicorn company and is worth a valuation of $2.8 billion.

Challenges Associated With Career Transitions and Tips to Overcome

Navigating career transitions can be filled with many obstacles. One of the biggest obstacles is professional validation. When switching careers, one may lack the qualifications, certification, or even experience to land a desired position. Employers may also be hesitant to hire someone who has less experience in their desired field.

In order to effectively navigate this challenge, it is important to have a well-crafted resume, highlighting skills, achievements, and experiences, which are relevant to the desired position. Additionally, professional networking is also a great opportunity to showcase competence, expertise, and passion amongst peers and professionals in the desired field.

Another challenge is that of financial stability. Changing careers often entails a period of unemployment, which may make it difficult to maintain a good lifestyle. To overcome this challenge, it is important to have a steady and reliable source of income during the transition period. In order to potential guard against financial instability, it is advisable to have an emergency fund in place before making any career transitions.

Actionable Steps for Mastering Business Transitions in India

1. Have a clear end-goal: When transitioning, it is important to have a clear goal in mind. Think about the skills and experience, which are marketable, and write down the skills, which need to be acquired. Having a clear plan on how to get there is half the battle won.

2. Validate your skills: Having a well-crafted resume, accompanied by a detailed portfolio, will provide value to potential employers. When transitioning, it is important to validate your skills by obtaining certifications, particular to the industry. Make sure that the certifications and qualifications or experience is impressive to ensure that employer requirements are met.

3. Take help from mentors, network and keep an open-mind: Having an existing network of people within an industry is a great asset to leverage. It is essential to stay in touch with mentors and industry professionals, who may help guide one through the process. Networking and staying open-minded to new ideas, positions, and locations can open more doors during the transition.

4. Aim for micro-transitions: Transitioning can be daunting and it is better to not take a giant leap right away. Aiming for micro-transitions and taking smaller steps can ease the process. This involves considering smaller transitions, such as switching to a different team within the same company, trying out a particular technology, or learning different methodologies and processes to hone expertise in a particular industry.

Conclusion

Making the decision to switch careers can be a daunting task. But with the right guidance and proper planning, success can surely be within reach. This blog post has discussed key aspects for mastering career changes in India, such as an overview of salary trends, real-life examples, potential challenges and actionable steps to overcome them. It is important to stay aware of the latest trends in the industry and have an action plan on how to get to where one wants to be. With dedication, hard-work and determination, a successful transition is within reach.