Business Articles

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Come, let's celebrate Entrepreneurship!

Over these years lots of entrepreneurs in India have been struggling to make it to the touch line. Not so much because of the market forces, but more because of a combination of the following reasons:
- parents scorning
- wife ridiculing
- in-laws advising
- children sneering
- friends deriding
- society taunting
- bankers scoffing
- governments overtaxing

If entrepreneurship in India, has to kick off , it is important to change the thought process of the society at large.  It is important to let the society know that they are acting like shekchilli - cutting the branch of the tree on which he was seated.

So our endeavor to celebrate entrepreneurship, will follow an Integrated PR activity to let everyone know that entrepreneurship is the only way to go -  under the slogan celebrating...

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Economic survival strategies for Employees & Entrepreneurs.

Economic development is the backbone for “social mobility” – for one and all. You will also agree education is an important contributor to economic development [note: Social mobility is the movement of individuals or groups in social position over time.]

But most people in society are deprived of that education which teaches them economic survival, life skills and growth strategies.

Survival needs from an ordinary livelihood, a job or maintaining an existing business is becoming difficult, since the rules of survival are changing by the day.

An ATM introduced in a bank means there is no need for a cashier. Over 60% of air tickets are being booked online. So are a large no of railway tickets. Websites give out information. So there is no need  for a public relations officer. They handle complaints too. A lot of jobs are getting programmed into software’s due to which jobs are getting re-designed or reduced. Jobs are becoming contracts. This means a lot of additional skills (not taught in our current education system ) will have to be learnt by employees for economic survival and growth.

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Is it business?

It is strange, how many, including veteran businessmen, misunderstand business acumen
Business is a process of creating value for your customer and charging a premium for the value thus provided.

Let us consider some cases:

Let us take the old, many times repeated example of the coffee bean. When you buy coffee / tea from the guy around the corner of the road and when you have the same coffee at a udippi hotel, the price is different. It multiplies many times, when you are in a five star hotel. This is classical value creation.

But when the guy across the street, uses the same tea powder more than once to make more tea, lot of people seem to call it business acumen, is it ?. Did he inform you that he is going to do it – then it is still acceptable? If he gives you the choice with a rate reduction, it is business acumen.

Similarly, when a five star charges an exorbitant amount, but does not serve you adequate portions, is it business acumen? And what if they are providing sub-standard dishes etc. Is it business acumen? You are paying to be treated royally, and they are charging you for royal treatment. Anything less, is it business acumen?

I know ice-cream parlours (big names) and bars that play with the quantities and dilutions to squeeze z profit. People call it business acumen; is it ? Is it business?

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Friendship - The Hidden Mantra To Business Success!

On this friend ship day, I would like to offer this article as a token of gratitude to all my friends and friends of my brethren entrepreneurs.

I still remember a statement on friendship:

A friend is one who reminds you your dream long after you have forgotten it.

If one thing, we entrepreneurs cherish are our friends.  History is flooded with friends who have stood by an entrepreneur in his early days of struggle. Friends support in different ways as shown below.

Financial Support: Friends provide the much needed financial support in the early stages of a business venture. And they are the ones I have looked up to first, for the subsequent stages of funding. I have seen friends give lakhs of rupees to my friend entrepreneurs absolutely interest free for as long as 5-6 years.

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It is never a one-man show- it is always Collaboration!

From time immemorial, we have been following, adoring, and even adulating sportsmen, national leaders, business tycoons and even the great kings and queens. We have been influenced by them mainly by their personalities but, often overlook the fact that even they have a defined role in the team and how important it is for them as well as the team to play that role neatly and with ownership in order to get the desired result.

The moment an individual raises above the team or institution, the latter will collapse! One maybe an exceptional talent but, when working in a team environment knowing the role and doing justice to that role becomes critical.

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Wake up! It is time to be an entrepreneur!

Abninav Kumar has been in the IT industry for the past 10 years. Life has always been a smooth sailing with no major hurdles. He is currently a senior manager for Delivery and Outsourcing. He has a home at Kandivili bought for 80 lacs. He has 2 school going kids. His parents also stay with him.

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Going beyond B-Schools.

Shubangi Mishra completed her MBA from a tier-1 B-School in India. She got offer letter from an investment bank, offering her a big pay cheque.

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Leadership Concepts - From Biz to Sports.

Time and again I have seen speakers explain leadership in management through sports examples. (Me Included)

Having seen the entrepreneurial space for years, and worked with some unsung geniuses, I honestly feel it is unfair on entrepreneurs. So this time around, let me present the subject from the entrepreneur’s side.

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How rightly are you placed?

Mandar completed his BSc in IT and got placed at a top MNC through campus recruitment. Mandar is good in programming and has adored gaming. He used both of these skills in his final year project and developed a mobile game. His game drew great appreciation from teachers and students alike.

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Guru-Teacher: A tribute to all our teachers.

Come, let's humbly pay our deep respects to all our teachers !

"Guru Govind Dou Khade,Kake Lagu Paye;"
"Balihari Guru Apke Gocind Diyo Milaye"

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Be an aspiring Indian Women Entrepreneur.

India is where the World Economy is watching. India is at an exciting stage wherein, she can be reigned as the Economic Superpower.

But, this would require Indian Entrepreneurs - Men and Women alike to harness this opportunity and create more sustaining businesses and more employment opportunities.
Indian Women are more aspiring and capable than ever before. India in the last decade has witnessed more successful women entrepreneurs. Exciting startups especially in the area of Hospitality, Health, Education and Training, Design etc. have been created by Indian women entrepreneurs in the last decade. 

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Recognition - The Biggest Addiction.

Over these years have been part of various associations and events-business and social.

One pattern that stands out is - Recognition Addiction - as I call it.

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Time to invest in your Career - Part 1.

Recently, I met one of my students who have been working in an MNC struggling big time in his project. Recently, he was assigned with the responsibility of leading a group of engineers in an insurance-based project. The big task for him was to convey exactly his requirement to the team. Also, his group had members even though less age in that project but, was older than him in the real sense. Some of them were reluctant to abide to him because, they considered him as naive.

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Time to invest in your Career - Part 2.

We have this programme on Intrapreneurship - wherein we impart the professionals with management skills so that, they can always have a holistic view of business. I happen to share this with some of friends who are IT Professionals. Though, most of them were able to sense the importance of the programme, many of them said, “Sid, great job! This is need of the hour but, I doubt if I can invest enough time. We will catch up on this later.”

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Everything that glitters is not Gold!

Everything that glitters is not gold !

This is an age old saying.
Nothing is more true in the education sector today.

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Qualities that can take an Entrepreneur a long way.

Am often approached by budding entrepreneurs for innovative business ideas and robust business plans. When asked about how their business background, I have often got similar responses. Most of them have juggled with multiple business ideas. Like, I met this guy from Pune and he had been into website development business for 3 months and then got into Vadapav business for 4 months. Now, want to set up a restaurant in Mumbai.

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Are You a Doctorpreneur?

I still remember that in my childhood, we had just one doctor in the street. The doctor was kind and obviously he had a big queue in his dispensary most of the times.

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How To Get The Best Out Of Your People?

People management remains one of ‘The Most’ critical skills required for any management professional. People are unique and diverse at the same time. Every employee likes to be valued and respected for his job and all have varied reasons for accepting/rejecting a job profile. A recent survey has shown that, unlike in the last few decades wherein employees were mainly after fat pay checks; today they are looking further than pay checks from a job.

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India needs more entrepreneurs - India needs 15
million jobs annually

We need to re-create the entrepreneurial vigour so that we can ensure 15 million jobs every year because if we do not have entrepreneurs, innovation will be difficult,” says Sam Pitroda.

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Why Indian middle class family does not encourage aspiring entrepreneur?

Harsimran Julka & Peerzada Abrar, ET Bureau Jan 25, 2013, 06.08AM IST
(a compilation)

In March 2009, the parents of IIT Delhi alumnus Deepinder Goyal, 29, were perplexed to see their son working from home. After a few days, they began to worry. Their "worst fears" were confirmed when Goyal disclosed that he had quit his cushy job at consulting firm Bain & Co to set up a foodie website— His parents were worried and advised Goyal to return to a "job." But the company he founded, now called, received $2.3 million (about Rs 12.3 crore) in funding in 2011, broke even with estimated revenue of more than Rs 3.5 crore in 2012, and has even expanded to west Asia and Europe. "They are extremely happy and proud now," says Goyal.

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We Need More Entrepreneurs than Managers-Part I

@ : Home > Group Discussion > Management Topics - Discussion Room

(compilation from a discussion forum)

G.D. said: (Sun, Jan 27, 2013 12:29:15 AM)

We Need More Entrepreneurs than Managers :

1) Entrepreneurs create innovative products which could be easily consumed by our huge population.

2) Managers mostly try to move in Foreign Banks and consulting firms and thus they contribute less to the nation than what Entrepreneurs do.

3) More Entrepreneurs means more competition. This will help in improving the quality of the product and will also help in reducing the prices due to cut throat competition.

Thus if more Government support is available for the Entrepreneurs, it will boost our economy and hence will be very beneficial.

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We Need More Entrepreneurs than Managers-Part II

@ : Home > Group Discussion > Management Topics - Discussion Room

(compilation from a discussion forum)

Narayana said: (Thu, Aug 2, 2012 10:58:29 PM)

An entrepreneur is a manager in itself, even he is more than a manager serving more people, takes more risk and responsibility compared to a manager. So in my opinion society needs an entrepreneur first than a manager. More over an entrepreneur initiates a new business, concept and serves the society various ways where as a manager undertakes limited risk and works for the organisation and serves the purpose for which he/she is employed for.

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Who Can Benefit?

MBAs who want to start up business.

Business owners who want to train their children in business.

Business owners who want to prepare their wives to be the second line in business.

Professional wanting promotions.

Graduates looking at getting better jobs.

Professionals working close to owners, promoters, senior management.

Youngsters wanting to start business or learn management.

People with less percentages struggling to get admission in management colleges.

All Entrepreneurs who want to grow their business.

Professionals who are less than 3 years into business.