Tag: entrepreneurship

Options for Entrepreneurs Who Don’t Want to Do It Alone

In this blog post, we look at some unique ways entrepreneurs can leverage collaboration to progress their venture while staying true to their mission.

If you’re an entrepreneur looking to set up your own business, then you know that it can be both a rewarding and daunting experience. You have dreams of success, but the idea of going solo can also feel overwhelming and leave you feeling like there must be another way. Thankfully, there are a variety of different options available for entrepreneurs who don’t want to do it alone: from finding mentors in your industry niche or joining a co-working space with like-minded individuals, all helping to provide the resources and support needed to get off the ground. In this blog post, we look at some unique ways entrepreneurs can leverage collaboration to progress their venture while staying true to their mission.

Why Working with a Mentor Can Help You Succeed as an Entrepreneur

Having a mentor as you embark on your entrepreneurial journey can greatly increase your chances of success, as this knowledgeable guide can offer invaluable insights and lessons from their own experiences. These seasoned individuals, deeply invested in your development, provide ongoing support and encouragement, which, in turn, inspires confidence and motivation. As entrepreneurs face many challenges, a mentor, with their expertise and professional network, can help address problems, discover opportunities, and push you towards growth, all without holding your hand. You can try Freedom Business Mentoring. Moreover, a mentor’s impartial, honest feedback enables you to assess your progress and make adjustments along the way objectively. A mentor-mentee relationship is truly a partnership, where both parties collaborate to cultivate the best version of yourself, equipping you with essential skills to turn your entrepreneurial aspirations into sustainable ventures.

How to Choose the Right Mentor

Embarking on the quest to find the right mentor can be an exhilarating journey filled with opportunities for personal and professional growth. As you traverse this path with enthusiasm, it’s essential to consider various factors to guide your decision. Begin by evaluating your goals and desires, as this will lead to a mentor who aligns with your aspirations, thus propelling you toward success. It’s crucial to seek out someone who possesses not only proven expertise in your area of interest but also demonstrates strong communication skills and genuine dedication to providing guidance. As you nurture this relationship and collaborate towards achieving your objectives, it’s vital to maintain open channels for feedback, ensuring that both parties benefit from this fruitful alliance. By diligently examining these key elements, you will undoubtedly discover the perfect mentor to illuminate your way to extraordinary accomplishment.



Tips for Finding the Right Co-Founder or Partner

Finding the right co-founder or partner can be a crucial step in launching a successful business. It’s essential to partner with someone who complements your skill set, shares your vision, and is equally committed to the venture. Begin by thoroughly evaluating your own strengths and weaknesses to understand what kind of support you’ll need. Tap into your network and attend industry events, as like-minded individuals are likely to share your passion and bring valuable insights to the table. Don’t hesitate to conduct rigorous interviews and seek references, as it’s important to measure the compatibility between you and your potential partner. Moreover, open communication, shared values, and a strong work ethic can help create a resilient bond that stands the test of time, ultimately contributing to the success of your startup.

Benefits of Looking at Franchising

Delving into the world of franchising can open up a plethora of opportunities that are not only financially rewarding but also empowering for aspiring entrepreneurs. As you explore the domain of business franchise, you discover that franchising offers a reliable and tested business model with a proven track record of success. It eliminates many of the risks associated with starting a business from scratch by providing an established brand identity, operational resources, support, and training from the parent company. This enables franchisees to hit the ground running and focus on growing their business while benefiting from the wealth of experience that the franchisor brings to the table. Not only does this intricate network of partnerships foster a sense of camaraderie and shared goals, but it also provides a platform for budding entrepreneurs to thrive and excel on their journey to financial independence and business mastery.

Advantages of Working with Other Entrepreneurs

Working alongside fellow entrepreneurs presents a myriad of outstanding advantages that fosters individual and collective growth. It creates an enriching environment where business owners can tap into diverse skill sets, share innovative ideas, and learn valuable insights from others who have experienced similar challenges. Networking with fellow entrepreneurs not only expands your personal and professional connections but also presents opportunities to collaborate on novel projects and generate joint ventures. Furthermore, engaging with other entrepreneurs can provide a supportive community that encourages resilience during challenging times and celebrates successes, which is vital for personal and professional development. Ultimately, joining forces with other entrepreneurs is a key ingredient in fostering a thriving entrepreneurial ecosystem that empowers individuals to reach their potential and contribute to the success of others.

Networking and Collaboration Strategies for Entrepreneurs

The exhilarating world of entrepreneurship can be both immensely rewarding and challenging, and for many aspiring entrepreneurs, cultivating strong networking and collaboration strategies is a key ingredient to success. By actively engaging with like-minded individuals, we not only expand our knowledge and resources but also foster invaluable relationships that can propel our business ventures to new heights. Networking events, online forums, and workshops offer ideal spaces to mingle with fellow entrepreneurs, share ideas, and brainstorm innovative solutions. Moreover, establishing strategic collaborations can open doors to new markets, leading to profitable partnerships that can transform our businesses. So, as we navigate the ever-evolving entrepreneurial landscape, it’s crucial to embrace networking and collaboration opportunities, as they can be a powerful driving force behind our long-term success.

It takes an amazing amount of confidence and passion to succeed as an entrepreneur. While the path to success can be difficult, uncertain, and sometimes lonely, you don’t have to go it alone – partners, mentors, co-founders, and networks of other entrepreneurs can help you along the way. With the right advice, guidance, and support from trusted advisors and colleagues, you can become a successful business owner with a thriving company. So if you want to make your entrepreneurial goal a reality, don’t hesitate to reach out for help and ask questions along the way. Get connected with other professionals in your field who understand how hard this journey is but also how worth it the rewards can be. With strategic planning and determination, backed by those around you that share your same drive towards success, anything is possible!



Future of Entrepreneurship and startup culture in India

With the advent of digital technologies and the government’s push towards entrepreneurship, India has become a hub for innovation and entrepreneurship.

Entrepreneurship and startup culture in India have been growing rapidly over the past decade. With the advent of digital technologies and the government’s push towards entrepreneurship, India has become a hub for innovation and entrepreneurship. The future of entrepreneurship and startup culture in India is looking bright as the country continues to evolve and adapt to the changing business landscape.

Government Promoting Entrepreneurship

One of the biggest drivers of entrepreneurship and startup culture in India is the government’s focus on promoting entrepreneurship. The government has been actively promoting entrepreneurship through various initiatives such as Make in India, Startup India, and Digital India. These initiatives have helped to create a conducive environment for entrepreneurs to start and grow their businesses. Additionally, the government has also been working to improve the ease of doing business in India, which has helped to attract more investors and entrepreneurs to the country.



Growing Digital Ecosystem

Another major driver of entrepreneurship and startup culture in India is the growing digital ecosystem in the country. With the increasing penetration of the internet and mobile technologies, more and more people have access to digital tools and platforms that can be used to start and grow businesses. This has led to the emergence of a number of digital startups that are taking advantage of the digital ecosystem to create innovative products and services.

Investment

The emergence of the Indian startup ecosystem has also led to the creation of a number of venture capital firms and angel investors that are investing in startups. This has helped to provide startups with the necessary capital and resources to grow their businesses. Additionally, the startup ecosystem has also led to the creation of a number of incubation and acceleration programs that provide startups with mentorship and support.

One of the biggest challenges facing entrepreneurship and startup culture in India is the lack of access to funding. Many startups in India struggle to secure funding, which can be a major obstacle to their growth and success. However, this is gradually changing as more and more venture capital firms and angel investors are investing in startups in India. Additionally, the government is also working to improve the ease of doing business in India, which will help to attract more investors and entrepreneurs to the country.

Conclusion

In conclusion, the future of entrepreneurship and startup culture in India is looking bright as the country continues to evolve and adapt to the changing business landscape. With the government’s focus on promoting entrepreneurship, the growing digital ecosystem, and the emergence of the Indian startup ecosystem, the opportunities for entrepreneurs and startups in India are increasing. Additionally, the government is also working to improve the ease of doing business in India, which will help to attract more investors and entrepreneurs to the country. As a result, the future of entrepreneurship and startup culture in India is looking very promising.



6 ways to boost productivity at work

An entrepreneur always needs to be motivated and do better than what he was doing the day before.

When the work turns out to be boring or monotonous or piles up to become a lot, an entrepreneur usually loses interest and tends to slack off. This affects the company’s productivity as well as the entire morale of the team to work since the boss doesn’t seem pumped up. Thus, an entrepreneur always needs to be motivated and do better than what he was doing the day before.

Here are 6 ways to increase productivity:

1. Self imposed deadlines

You know better than anyone else what your capabilities are and how much time you actually require to complete a work. So, if a client gives you two days to finish a task and you know that you can get it done in a day, impose the deadline on yourself so that you complete the work in the set deadline and have remaining time for other things. This boosts productivity and helps you stay focused on one task.

2. Always follow the two-minute rule

Entrepreneur and strategist Steve Olenski once said that “if one can do a task in two minutes or lesser, one should do it right then”. This is a brilliant concept because it doesn’t leave any space for procrastination. Also, he claims that if a person leaves the smaller tasks for later, they tend to take longer to complete them.

Related Post: Simple ways to upgrade your business

3. Don’t attend unnecessary meetings

Since you are the captain of the ship, you need to look over a million things, however, you job doesn’t demand you to attend unnecessary meetings which don’t really need you. According to a survey, most people spend an extra 30 hours weekly attending unproductive meetings. An entrepreneur can delegate and do more important work in that time.



4. Take breaks

By breaks, we don’t mean a lunch break; but when you’ve been staring at your computer screen all day, you eyes and brain need a break. It could be as simple as a 2 minute walk in the fresh air or going to a beverage dispenser to get coffee. Taking breaks get your blood flowing and when you return to your workstation, you are fresh and are able to focus better. Hence, taking breaks when you experience fatigue will actually boost your productivity.

Related Post:3 important qualities to hike sales results for your startup

5. Use a to-do list

An entrepreneur might have a million things he needs to accomplish in a day and as the day progresses, s/he might forget one or two of them. hence, it is always better to make a to-do list and do the tasks which are more important earlier and delegate the less important ones. Also, a to-do list helps you remember what you need to do and when. You can also have a do-later list for small things that aren’t crucial but demand your attention.

6. Reward yourself

It is always easier to work when you are bound to get incentives out of doing a task. So, your incentive could be a bonus or a nigh out with friends after a long time you’ve been waiting for. These things will come only when you work hard for them. so, just like a kid is made to do things by promising him an incentive, do the same for yourself. You’ll be amazed to see how focused and hardworking you become.

Hope this article helps you become more productive at work!

Related Post: 3 Productivity hacks for entrepreneurs



20 Must watch movies for all aspiring entrepreneurs

Movies are a great way to learn from others as stories, fiction, and non-fiction, are taught to the viewer in an easy-to-understand way.

Movies are a great way to learn from others as stories, fiction, and non-fiction, are taught to the viewer in an easy-to-understand way. There’s a lot to be learned from these stories as they show you how exceptional people who have come before you have done it. These must-watch movies for all aspiring entrepreneurs are:

1. The Godfather

An offer you can’t refuse.

One of the greatest films in the world based on the best book I’ve ever read. The Godfather is the story about the growth of a small family business as it becomes the largest organized crime family in New York, fighting off opposition at any expense. The Godfather and his son Michael Corleone are the brains behind the family and this film gives you an insight into what it takes to become one of the most powerful family businesses in the country.

 

2. Glengarry Glen Ross

Lie. Cheat. Steal. All In A Day’s Work.

In the fast paced world of Chicago real estate, competition and incentive is what decides who’s the best. That’s why they’re having a little sales competition – First prize is a Cadillac El Dorado, second prize is a set of steak knives, third prize is you’re fired. With stakes that high, and the pressure on, the salesmen show that they’re willing to do anything it takes to succeed in business, but the most interesting part of this is film, is what exactly that is.

 

3. Wall Street

Every dream has its price.

In the life of an ambitious young stockbroker, Bud Fox will do just about anything it takes to succeed, and for him, that includes a little bit of insider trading. See what happens when the desire to succeed takes over your life and the motto of ‘Greed is good’ directs how you do business. But what happens when you’re pushed to your limits and asked to do something you can’t or won’t do? Suddenly everything comes to a head when Fox is asked to help do something, not only illegal, but morally reprehensible.

 



4. The Game

There are no rules in The Game.

What do you get the guy who has everything? Nicholas Van Orton (played by Michael Douglas) is a wealthy San Francisco banker who’s life is wrapped up in his business, which has left him as somewhat of a loner. His brother Conrad gives him the gift of a lifetime, which would prove to change his perspective on the world and the way that he’s going to live it. When bad things start to happen to you, you start to question what’s really important in live, business, success and money, or actually living?

 

5. Boiler Room

Motion creates Emotion!

After entering the stockbroking profession to impress his father, Seth Davis, a Queens College dropout, soon realizes the huge earning potential ahead of him. But with commissions much larger than any other company, Seth soon learns that not everything is what it’s cracked up to be and he’s forced to face the dilemma of money and greed vs. morals and legality. For any young entrepreneur starting out in business, it’s a very real possibility that you’re going to face moral dilemmas and the way that they’re dealt with in this film is very eye opening.

 

6. Jerry Maguire

The rest of his life begins now.

This is a story about a man who’s at the top of his game; beautiful partner, the biggest clients, lots of respect. But then he decides to step back and question it all and proposes his new thoughts to the rest of the company, which ultimately ends in him losing it all. Everyone turns his back on him, except for one, very volatile client, Rod Tidwell. From here you see Jerry examine what it really important to his business and life and works towards bringing it all back together again, only this time, the way it should be.



7. Trading Places

Take two complete strangers, make one of them rich the other poor… just watch the fun while they’re… Trading Places.

What happens when you take the rich and the poor and make them switch places? A social experiment ran by Mortimer and Randolph Duke, brother and owners of a commodities brokerage firm, proves to be very interesting when the switched pair run into each other. A life changing event for both of them, poses the question of what’s more important in life, friends and love, or money and power?

 

8. Office Space

Work Sucks.

When your hypnotist dies just after they’ve put you in a state of complete bliss, you can’t help but have a refreshing outlook on life. If there’s ever a film to make you want to get out of a desk job in the corporate world, then this is it. Peter Gibbons is a man who can’t help but be promoted as he consistently starts to slack off and do things his own way, but trouble starts to arise when his new careless nature starts to lead to him stealing from the company in a much bigger way than he expected.

 

9. Pursuit of Happyness

Based on a true story.

This is a real life story of a man who believes so badly in a product that he can’t sell that he ends up losing his house, his wife and his money, being left with just himself and his son. This in itself is an important lesson to be learnt, but it’s the steps that he takes from here that really shape him into who he becomes. Against all odds, he takes an unpaid internship to become a stockbroker, fighting against his peers for a single job at the end of it. This is a powerful true story that sticks with you as you face your own personal struggles in business.

 

10. Catch Me If You Can

The true story of a real fake.

Again, this is another true story, about a young conman who successfully impersonated an airline pilot, doctor, lawyer and history professor during his stint as fraudulent cheque casher. What’s amazing about this film and the life of Frank Abegnale Jr. is how much he managed to achieve in a much tougher environment and under more stress than most people are used to. Whether it’s legal or not, business is business and Frank was one of the best at what he did.



11. Wolf of Wall Street

There’s no nobility in poverty.

This is a story of a man who went from nothing tom something, and something very big at that. It’s an inspirational film for the amount of perseverance Jordan Belfort puts into it, but that’s not what I love the most about this film. This movie does a great job at depicting how business cultures are created in fast-growth companies (minus the corruption seen in this one).

Belfort’s rallying cry of “Don’t take no for an answer” is specific to the mission of his company. My team and I use the rallying cry “total contact” which means all team members own the solution to any problems brought to their attention — no passing off to somebody else.

 

12. Shawshank Redemption

Fear can hold you prisoner. Hope can set you free.

This is one of the greatest films of all time, and one I’m sure that the majority of readers have seen before, purely because of its undeniable greatness. It’s the story of a man who manages to succeed in the worst possible conditions imaginable – false imprisonment for the murder of his cheating wife and lover. From making friends with another con inside the prison, Andy manages to make the best out of a very bad situation and through perseverance manages to achieve more than he ever thought possible.

 

13. The Social Network

You don’t get to 500 million friends without making a few enemies

This is another story of the young, successful and intelligent man, only this time, it’s based on a true story of the world’s youngest billionaire – Mark Zuckerberg, the creator and owner of Facebook. The story is pretty amazing and has been made famous by this film, he starts off as a Harvard student with a strong streak of arrogance and huge potential, he creates a new social network based upon the most prestigious email address in the country, the Harvard email address. The rest, as they say, is history.

 

14. Pirates of Silicon Valley

Good artists copy… Great artists steal.

There are no two bigger names in technology than Microsoft and Apple and this is their story. This is an amusing documentary style film about their competition and their rise to the enormous companies that they are today. It’s slightly dated today, and perhaps The Social Network is a little bit more relevant, but it still holds some very valuable information and pointers to learn from. After all, you’re gotta be a pretty special person to become as powerful as they have.



15. Forrest Gump

The story of a lifetime.

This is a simple man with good intentions, who accidentally becomes phenomenally successful from living his life the best way he knows how. He wins medals, becomes a professional ping-pong player, takes up running, owns a huge shrimping company and inspires people all across the country. The simple nature of Forrest makes him very appealing to world as he proves that you don’t have to be a super genius to make something work, you just have to try.

 

16. Blow

Based on a true story.

Another great film based on a true story, this time only slightly more illegal than the last, it’s a film based on George Jung and his career as a cocaine dealer. What started off as a small time operation working with pot, he is eventually imprisoned and introduced to cocaine and that’s where things start to explode. He’s rumored to have handled about 85% of all of the supply of cocaine in the 1970’s, making him an incredibly powerful and successful man, and this film is all about exactly how he did it.

 

17. Dirty Rotten Scoundrels

Nice guys finish last. Meet the winners.

This is the story about two con men, big time and small time, and their struggle to compete together in a small French town which isn’t big enough for the both of them. So they decide to take part in a bet in which the loser leaves town and allows the other to carry on with their business. The only problem is that the bet is to see who can extract $50,o00 from a young female target – a pretty high stake. Of course hilarity ensues as you get to watch how the minds of con men work as they compete against each other to reach the goal first.

 

18. The Aviator

Some men dream the future. He built it.

A biopic depicting the early years of director and aviator Howard Hughes’ career from the late 1920’s to mid 40’s. It wasn’t the money he made or the time he spent that made him so great, it was the attention to detail and perfection that he strived for that set him apart from his competition. He faced many obstacles along the way from rival companies and malicious rumors, but nothing stopped him from becoming exactly who he wanted to be.

 

19. Risky Business

There’s a time for playing it safe and a time for Risky Business.

A good story about what you have to do when you take your dad’s Porsche out for a trip and start to realize that you’re going to need a lot of money, which you’re going to have to raise in a very creative way. With his parents away and responsibility out of the window, Joel starts to realize that it’s not all as easy as he was expecting, having to look after friends and source cash any way he can. An interesting look at what people can come up with when they’re put on the spot to come up with some fast cash.

 

20. The Corporation

This film takes a good, long look at what happens when you take a business and you model it to be legally a person – a corporation. What happens though when the sole purpose of this person is to make money for its shareholders though? It starts to act without a conscience which threatens the world, our future and the people working for it. This isn’t just a film about evil corporations though, it’s also about what we can do to stop them from taking over everything that we know. I saw this film in the cinema and it’s well worth seeing again, it’s completely eye opening.

 

Now you know which 20 movies you should definitely watch as an aspiring entrepreneur!

Image credit: www.youtube.com



5 ways to tackle your business fears

It’s our nature as entrepreneurs to have a constant fear, which can be overcome only with personal conviction. To vanquish these fears and devise an appropriate course of action, we must trust our instincts.

Entrepreneurship is not only about taking risks but also dealing with psychological imbalances. It’s our nature as entrepreneurs to have a constant fear, which can be overcome only with personal conviction. However, we sometimes find ourselves in uncharted waters causing turmoils in our life. To vanquish these fears and devise an appropriate course of action, we must trust our instincts.

Here are a few ways to tackle your business fears:

1. Be Honest About Your Fear

Personal beliefs are extremely powerful and influential, which form the basis of how we react in fearful situations. In order to tackle such things, we should ask ourselves hard questions about the uncertainties being faced. Whether it’s fear of public speaking or unfamiliarity with handling company finances, employees, need to get specific, you can find a resolution to any predicament once you recognize what it is.

2. Have a Positive Attitude

Revel in your ability to look past fear toward successful outcomes. Learn how to work with any apprehension rather than letting it become a roadblock. Always be cognizant of your attitude, and don’t let yourself succumb to your fear. If a pessimistic viewpoint develops, stop and refocus. Get creative and be bold enough to turn the fear into an opportunity for growth.



3. Have a Clear Outlook

Clarity and commitment lessen the anxiety you feel when attempting something new. Rather than avoiding challenges that alarm you, gain a sense of control by understanding the situation. Develop a simple and clear mission with a specific outcome. Stating a tangible result decreases your fear and redirects your energies toward reaching your goals.

4. Trust Yourself

You need to accept that rejections are a part of life and it happens to all of us, but they will only impair your progress if you allow them to. Unshackling yourself from people’s expectations and keeping your vision clear will propel you to greater heights.

5. Anticipate Bumps on the Road

You need to realize that there will be moments when you feel disheartened so, rather than dreading it, expect it. Remember that you’ve been apprehensive before and successfully worked through it. To lessen the impact of stressful periods, indulge in activities that make you happy and act as stress-busters like reading comics, talking to your best friend, or listening to good music and others. Engrossing yourself in an enjoyable activity can put fear on the back burner.

Fear is a natural phenomenon from which we all suffer but in the end, it is our self-confidence and conviction which help us sail through the rough waters.



21 inspiring quotes from animated movies for budding entrepreneurs, startups and everyone

Here is a list of 21 inspiring quotes from animated movies for budding entrepreneurs and startups, which are in fact applicable to anyone.

What do you see when you watch films? Nothing but your own hopes, dreams, and fears played out on the big screen. We humans reflect on our world through symbolic stories of our life. Simply put, stories are metaphors for our lives.

Here is a list of 21 inspiring quotes from animated movies for budding entrepreneurs and startups, which are in fact applicable to anyone. Anything you imagine can be conceived in animated movies. They’re vivid, rich, and filled with lively characters offering us profound wisdom in the most subtle ways. They’re not just for children, but for adults too. And if we pay close attention to them, we may just find the answers to life that we’ve been searching for.

1. Nobody is entitled to anything. Anyone can become an artist; you just have to make a choice.

Not everyone can become a great artist, but a great artist can come from anywhere. – Anton Ego, Ratatouille

2. Change is within. If thought is the cause, effect is the outcome.

Look inside yourself Simba. You are more than what you have become. – Mufasa, The Lion King

 

3. Invest in identity capital and build it. It adds value to who you are.

Your identity is your most valuable possession. Protect it. – Elastigirl, The Incredibles

 

4. Success is subjective – don’t get carried away. Have your own definition of it.

There is whole lot more to racing than just winning. – Tex, Cars

 

5. Our true reality lies in identifying with other people.

As long as we are together; it doesn’t matter to me. – Marty, Madagascar



6. Abandoning your ego is a gift. Strive for it.

To laugh at yourself, is to love yourself. – Mickey Mouse

7. Storms pass. Just wait until you reach the shore and never stop dreaming.

All at once everything looks different, now that I see you. – Rapunzel, Tangled

8. Believe your gut instinct and just plunge in. All you need is a little faith.

All it takes is little faith and trust. – Peter Pan

 

9. Don’t be deceived by appearances. Search for the soul – it actually counts.

Do not be fooled by commonplace appearance. Like so many things, it is not what outside, but what is inside that counts. – Aladdin

 

10. Your mind is everything. Wield it carefully or it will command you.

Your mind is like water. When it is agitated it becomes difficult to see, but when you let it settle; the answer becomes clear. – Oogway, Kung Fu Panda

11. Timing matters. Do not try to prove anything just for the sake of proving it.

I’m only brave enough when I have to be. Being brave doesn’t mean you go looking for trouble. – Mufasa, The Lion King

12. We create our own destiny through the choices we consciously make.

There are those who say fate is something beyond our command, that destiny is not our own. But I know better. Our fate lives within us. You only have to be brave enough to see it. – Merida, Brave

13. Never give up – you’ll find it. Trust me.

If you work on something long enough you will find it, even if you are lost for a while you will find it. – Professor Bomba, Epic

14. Everything bothers you if you let it. Remember you have a choice.

Cold never bothered me anyway. – Elsa, Frozen



15. We always search for answers without realizing the fact that answers lie within.

There is no secret ingredient. It’s just you. – Po, Kung Fu Panda

16. Never ever accept your limitations. Human spirit is eternal.

I’m flying… I’m flying! I’m not an ostrich…I’m not an ostrich! – Blu, Rio

17. When you are going through hell, just keep going.

Just keep swimming. – Dori, Finding Nemo

18. Whatever you imagine, you can conceive. The universe is waiting.

To infinity, and beyond! – Buzz Lightyear, Toy Story

19. You can’t see the future with tears of the past in your eyes.

You should, Shen. You gotta let go of that stuff from the past, because it just doesn’t matter! The only thing that matters is what you choose to be now. – Po, Kung Fu Panda 2

20. You will become, what you choose to be.

Your story may not have such a happy beginning but that does not make you who you are, it is the rest of it- who you choose to be. ― Soothsayer, Kung Fu Panda 2

21. Today is a gift.

Yesterday is history, tomorrow is a mystery, and today is a gift… that’s why they call it present. ― Master Oogway, Kung Fu Panda



4 Resources to utilize for advice before you start your career as an entrepreneur

There are a variety of resources available to help you better understand your role as an entrepreneur so that you can set yourself up for long-term success.

When starting your own business, it can sometimes seem as though you’re headed out on your own into the vast wilderness. The good news, though, is that this isn’t the case at all. There are a variety of resources available to help you better understand your role as an entrepreneur so that you can set yourself up for long-term success.

Other Business Leaders

Believe it or not, many business leaders like to talk about themselves. One of the best things you can do, then, is to get established business leaders talking about how they found success. Typically, there will be plenty of wisdom to be found in these conversations that you can apply to your own business. Plus, you may be able to build relationships that can benefit you in the future.

Books and Literature

To understand how to operate successfully in the present, it’s important to understand how the present business climate developed out of successful businesses in the past. One way to do that is to read historical novels about business that document the rise and fall of some of the country’s most well-known companies in both fictional and non-fictional settings. By learning how other real and fictitious entrepreneurs were able to use their limited resources to build empires, you’ll gain some tools that you can use in your own pursuits.



Conferences

Attending a business conference is a great way to gain insight into running a business while also networking with other entrepreneurs. The talks given at conferences often feature-wise leaders in business who can offer great insight into what to do and what not to do as you move forward. Plus, there’s nothing like a conference atmosphere to get you pumped about the direction you’ve chosen for your life.

Similar Businesses

Even if you have a unique idea for your business, it’s likely that your business will operate in a space alongside other businesses. Therefore, it’s a good idea to study these other businesses to help find your own recipe for success. You can think through what you like and dislike about these businesses, what the pinch points seem to be, and what you would do to improve upon the business model. You can then apply these findings to your own business to make it as good as possible right from the start.

Even if you have excellent business acumen, there’s still more that you can learn. Therefore, it’s important to take the time to be a student of business before launching out on your own. Since learning costs very little, you can simply see this time of preparation as an investment with potentially spectacular returns.



Our top 5 tips on being your best self and finding entrepreneurial success

Entrepreneurship isn’t for the faint of heart. With 20% of all small businesses failing within the first year, it’s easy to see why the prospect of being an entrepreneur can feel overwhelming.

Entrepreneurship isn’t for the faint of heart. With 20% of all small businesses failing within the first year, it’s easy to see why the prospect of being an entrepreneur can feel overwhelming.

If you want to succeed in the business world, it’s critical to keep your own personality and mindset in mind. As the force spearheading your company, it’s up to you to guide your own strategy and chart a course toward success—which can be harder than it sounds.

Sound familiar? If you’re struggling with your small business, here are a few tips to help you find your best self and achieve entrepreneurial success.

Learn to Take Advice

When it comes to being self-employed, many people want to think of themselves as independent self-starters who don’t need to rely on others—but that’s a sure path to failure.

As an entrepreneur, you’re unlikely to have expertise in every area of business. Ignoring sound business advice, financial insights, and legal feedback could make it harder to chase success in the long run.

Start to Sell Yourself

Sure, few entrepreneurs jump into the business world out of a passion to sell themselves. Many cringe at the prospect of appearing “phony.”

But at the end of the day, gaining the confidence and skill you need to self-promote can mean the difference between a popular business idea and one no one ever hears about. Tell your own story and get comfortable sharing your passion!

Network

Linked to the tip above is networking. The truth is, the best entrepreneurs aren’t really alone, even solopreneurs.

Business owners who network tend to find themselves with more of the support, guidance, and connections they need than those who don’t. Find people with whom you want to cultivate professional relationships, and start making an effort! Over time, you may find yourself working through the 4 stages of psychological safety with people who could easily become your own informal mastermind group.



Know Your Strengths

Not only is it true that you can’t do everything, but you also shouldn’t do everythiing. Know your strengths, and know how to play to them.

If you love managing the big picture but struggle with financial details, hire someone to take care of your payroll and accounting. If you’re great at networking but struggle with organization, spring for some helpful professional software to create better organizational systems for you.

Set the Right Goals

Having SMART goals in place can help you launch your company toward the objectives you have in mind, one step at a time. Try setting just one or two long-term goals that you can break into bite-sized milestones. Creating a plan to reach these smaller milestones becomes much easier in the short-term, allowing you to celebrate smaller successes on the way to your destination.

Find Your Path to Success as an Entrepreneur

The path to success will look different for every entrepreneur based on their personal approaches and mindset. However, the tips above are a great way to help you carve your way forward and find your best self, creating the strategies that lead to growth. Take your first steps toward success today!

Want more of the guides you need to help your startup thrive? We’ve got you covered. Check out our other posts for more info.



How to stay focused and motivated while starting a business

The hardest thing about entrepreneurship is the constant rejection. Here are some tips on how to stay focused and remain motivated while starting a business.

During the initial days of entrepreneurship, the scale of motivation always remains on the higher side. However, once you’ve spent some time working on your startup, and do not get results as you’d expect them to be, the motivation starts to fade out.

The hardest thing about entrepreneurship is the constant rejection. However, all you need to do is remain determined and dedicated to being able to overcome these hurdles that come in the way of you and your entrepreneur dream.

You’re not the only one and in fact, people of all walks of life and ages struggle with remaining focused. Here are some tips on how to stay focused and remain motivated while starting a business.

1. Celebrate the small wins: If you’ve decided to be an entrepreneur after leaving your well paying job, it is a victory in itself. So, even passing small hurdles call for some celebrations. Cut that cake, open that wine bottle, and you’ll continue to remain motivated.

2. Share your dreams: Just like Rome wasn’t built in a day, it wasn’t even built by a person alone. So, while you may want to do all the work by yourself, make sure you share your plans, ideas, successes as well as failures with your family members, friends and loved ones. They will be there to celebrate your success and be able to pull you up when you’ve failed and keep you motivated to move forward.

3. Use the early hours: Instead of scrolling through your social feeds, go ahead and do something productive in the same time frame. It’s always better to do something productive in the first few hours of your morning because it is then when your mind is fresh and most active. If you make it a habit, it will help you remain focused on your work.

4. Take care of yourself: When you are better mentally, physically and emotionally then you’re better with your business. Unwind when needed to keep you motivated. Your mental health is as important than physical health so you have to be strong mentally and stay energetic to grow as an entrepreneur. Never ponder on words which hurts you most, never ever care about back fence talkers. Work on yourself to become as strong as a solid rock wall.

5. Attitude of gratitude: Always keeps the attitude of thanking when you are starting off your day. Show gratitude towards positive things in your life like your family, friends or your loved ones. Always have a little bit of gratitude towards anything that makes you feel thankful. This will not only keep you motivated but also bring in more focus in your work.



6. Create a roadmap: You need the ensure that you’re creating a roadmap in your business so that you know what your plans will be. Jot down as to when and what you want to achieve and work your way according to the plan. This will ensure that you have your eyes on the prize and things don’t go haywire.

7. Get inspired: To stay in the game, you’ll need to constantly keep finding inspiration. The inspiration could be from anywhere, a person, a book, a movie, or even a daily quote. Just make sure that you’re getting inspiration from all sources possible so that your focus doesn’t shift and you continue to strive for success.

8. Have positive people around you: Not everyone will be there clapping their hands, applauding you when you succeed. More than half of the world will want you to fail and screw up, stay away from such people. Surround yourself with people who think like you and have the drive to succeed just like you, this will ensure that your focus does remain in place.

9. Know the Why’s: When you feel like giving up, just remind yourself why did you decide to take the route in the first place. Keep reminding yourself as to why would you want to climb the ladder of success, think about those great plans you have for yourself. You’ll remain focused like this.

10. Track your Money: Make sure that you’re keeping track of all the inflows and outflows of money. This will definitely help you in remaining motivated and also help you in understanding as to how close are you getting to your financial goals.

If you want to ensure that your startup is a success, along with a business plan, you also need to ensure that you find ways to remain motivated and focused so that you don’t falter and become unsuccessful in reaching your goals. You may doubt yourself, but make sure you remind yourself that you’ve got this.



8 Things entrepreneurial people do differently

There are aspects of the entrepreneurial mindset that will enrich your work and life. Here are 8 things entrepreneurial people do differently.

Entrepreneurship goes beyond Elon Musk, Mark Zuckerberg, and Garrett Camp, and it embodies something bigger than Twitter and WhatsApp. Entrepreneurship is a mindset, an attitude, and a lifestyle adopted by people who aren’t satisfied with the status quo.

It’s an approach to life that favors creativity over conformity and action over inaction. Bestselling author, investor, and entrepreneur James Altucher says that for him, “Being an ‘entrepreneur’ doesn’t mean starting the next Facebook. Or even starting any business at all. It means finding the challenges you have in your life, and determining creative ways to overcome those challenges.”

So, even if you’re not tinkering away at the next world-changing invention or looking to set up shop in Silicon Valley, there are aspects of the entrepreneurial mindset that will enrich your work and life. Here are 8 things entrepreneurial people do differently.

They’re brave enough to commit to their dreams.

Entrepreneurs choose to forego the security and familiarity of a ‘regular job’ to live an uncertain and insecure lifestyle. It takes a lot of bravery to make that tradeoff, but for icons like Walt Disney, the potential reward is worth it.

They think of their customers more than themselves.

Entrepreneurs are rarely out to seek fame for themselves. Instead, they’re more concerned with the people they want to help or the problem they want to solve. This infuses their task with a layer of meaning that can be the difference between success and failure when things get tough. In his book, APE – Author, Publisher, Entrepreneur, former Apple chief evangelist Guy Kawasaki writes, “In your darkest, most frustrated hours, remember the value you are trying to add to peoples’ lives, the satisfaction you’ll feel, or the cause that you’ll further.”

They never stop learning.

Since they’re in the business of creating new products and inventing new ways of doing things, much of what entrepreneurs do can’t be taught in a classroom. They know that the most important lessons are learned through living, so throughout their lives, they remain open, flexible, and curious in order to absorb as much as possible.

Richard Branson, founder of Virgin Group, started off with a small student magazine, before eventually growing a string of record stores, a music label, an airline, and now even a commercial spaceflight company. Rather than becoming an expert in one area, he continued to learn and adapt throughout his life.

They never give up.

Rarely does an inventor or entrepreneur succeed on the first try. To create something lasting and worthwhile, it usually takes years of hard work, focus, and dedication; an idea is just a starting point. Kelly Zen-Yie Tsai, a spoken word poet and the founder of a production company, believes this level of persistence is a critical element of entrepreneurship. “That’s what it means to be an entrepreneur: to really focus on that one thing that does not exist yet and keep working towards it until it becomes real,” she says.



They love failing.

For most of us, the fear of failure is entirely paralyzing, but for entrepreneurs, failure is something to embrace. It’s an indication of pushing the limits, and inevitable when one is constantly trying new things.

They find and fill a need of the world.

Entrepreneurs want to do more than indulge their own interests — they want to solve a problem or create a product that satisfies a need.

Some started businesses because of frustration with an inefficient or defective system. Others were moved by a personal encounter with poverty or misfortune. Blake Mycoskie, the founder of TOMS, started his business after traveling to Argentina and seeing kids who didn’t have shoes: “An absence that didn’t just complicate every aspect of their lives — including essentials like attending school and getting water from the local well — but also exposed them to a wide range of diseases,” he writes in Start Something That Matters.

They take old ideas and make them way, way better.

While one might think that entrepreneurs are focused mainly on never-seen-before ideas, they often revamp an existing model or upgrade an outdated product. Sometimes, these reinvented ideas change the way we exercise, read, or eat.

And once in a while, they revolutionize ice cream.

Ben Cohen and Jerry Greenfield, the co-founders of Ben & Jerry’s ice cream, started out in a renovated gas station in Burlington, Vermont, before growing a globally recognized brand that features unusual flavors like ‘Cherry Garcia’ and ‘Hazed & Confused.’ They’re also pioneers in the socially responsible business movement, speaking often about how business can give back to the community and earning Ben & Jerry’s a B-Corporation certification.

Above all, they act.

Entrepreneurs execute when for many others, an idea simply fades into the past. They are masters of turning the abstract into the concrete. This seemingly simple action is one of the great challenges of life and in the end, it’s what defines an entrepreneur.



Five critical questions your business plan should answer

Ask not what you can do for your business plan. Ask instead what your business plan can do for you.

Ask not what you can do for your business plan. Ask instead what your business plan can do for you.

Questions about pricing, hiring and other factors can put you in trouble. A detailed and revised business plan should help you answer these questions. Getting these answers will not only help your company to achieve short-term milestones but will also help you to keep an eye on your long-term business goals.

Here are five key questions and how your business plan should help you answer them:

1. Is my price right?

There are two essential components of pricing that should be included in your business plan:

i. Consider whether your price is in line with your marketing message. If you are offering a high quality product or service, you cannot charge a low price without contradicting your own marketing message. You should set your prices according to the relative value of your offer, or risk confusing your potential market.

ii. Your business plan should include revenues and costs on a per-unit basis, your overall direct costs and overhead. These factors can help you establish the constraints related to making enough profit. You have to cover costs, which can include expenses beyond the direct costs of buying what you sell, such as rent and payroll.

2. Can I afford to hire?

Especially when you are running a new company, you think to hire additional employees as they might help you with the mounting list of tasks that have to get done.
But wait, What would happen if you had hired an extra salesperson? Could an extra administrator solve some of your problems?

Go back to your business plan and determine what happens to projections if you add the extra salary and benefits. Check whether the improvement in people power will add to your revenue, or cut costs.
Instead, you should consider hiring a contract worker. Of course, hiring someone is almost always cheaper but only if there is a long-term need that justifies adding the fixed costs. If it is a short-term need then the cost won’t affect your overheard forever.

3. Am I implementing my strategy?

Test your strategic alignment: Do your milestones, spending for marketing activities, product or service development, and related expenses show the same priorities that are reflected in your strategy?

Generally, business owners say one thing in their strategy but do something different thing in their actions and spending.

For example, assume that you think to emphasize your extensive computer expertise in your strategy. But, you pay your service staff below market rates.

4. Can I afford to relocate?

Sometimes new business owners need to relocate to help cut costs or to take better advantage of a prime sales area. If you need to switch your location, consider prospects like Bevmax NYC office space rentals if they are applicable to your business. Then, get back to your basic numbers and break the problem into its business plan parts.

Estimate how much more your monthly rent will be at the new location. Also estimate your moving costs, costs for fixing up the new location, if applicable, and costs of the business lost while you are absorbed in the move.

Then adjust your sales forecast to either add in the additional business you would be able to do there or the costs you would be able to cut. If you don’t see enough long-term improvement, then perhaps you should not relocate.

5. Am I stunting my own growth?

Go back to your business plan and give your assumptions a fresh look. Consider your target market and strategy, and add in your business offering and distinctive differences.

Does your business offering match your market? Are you sending the right messages to the right kinds of people?
Think about things could easily add on to sell more per customer. Is there are any low-hanging fruit that you are missing?

Now look at marketing. Is your message changing enough to match changes in the market? Is your marketing mix adjusted to technology, media and social changes? What if you spent more money and time on marketing, could you increase sales?

Your business plan is not a static document, it’s your best tool for steering your business. Answering these questions periodically can help you to keep long-term goals in mind while you adjust your immediate steps and actions.

10 Reasons why entrepreneurship is awesome

There are endless reasons for why entrepreneurship is great. Here are ten simple but powerful reasons, in no particular order, why entrepreneurship is so awesome

Entrepreneurship is modern age dream. Everyone wants to live this dream but very few are bold and strong enough to bring this into reality. Every entrepreneur has a different story or reason about why he or she decided to start a business. Some have known from day one that they wanted to work for themselves and others come up with ideas while working for someone else and decide to take the entrepreneurial leap.

There are endless reasons for why entrepreneurship is great. Here are ten simple but powerful reasons, in no particular order, why entrepreneurship is so awesome.

As an entrepreneur:

1. You have full control over your destiny and have an opportunity to change lives.

You call the shots and make the decisions. You will ultimately determine the success or failure of your business. You can stop anybody coming in the way of your vision.

Having an idea for a product or service that has the potential to make a huge impact, go for it – nothing is stopping you now!

2. It provides a rush that is hard to duplicate.

There is no greater shot of adrenaline than the one you receive after reaching a goal, knowing that you worked extremely hard to get to that point.

Also, you never feel bored. There is always something to do and you will always have a long to-do list. Every day presents new challenges and new opportunities to keep you on your toes.

3. The satisfaction of saying you’re an Entrepreneur.

It is a great feeling to be able step back and say, “I am an entrepreneur and this is my company,” while proudly holding your head up.

4. Creating something from nothing and getting out what you put in.

Every business starts as an idea. You have to create it from level zero. If you are willing to work harder than anyone else, you will be rewarded accordingly. Want to experience more growth and opportunities: simply work harder.



5. Turn your passion and beliefs into a business.

You have the ability to create a business as well as impact people through your passions and beliefs. Also, when you are able to make a comfortable living doing what you love, it’s a win-win situation.

6. Feeling appreciated is great.

Let’s be honest, when you build an empire from scratch and earn appreciation and gratitude – it is empowering. It’s a great feeling when you receive an email or phone call from someone that took time out of his or her day to let you know that your product or service have helped them in a positive way.

7. You become an expert problem solver.

As an entrepreneur, you become very resourceful and over time you will learn to overcome anything and solve any problem placed in front of you.

8. Developing financial independence.

As an individual, we always look for different options to develop financial independence. For some, financial independence means having the cash to buy what they want. To others, it means saving for retirement. And for some, financial independence simply means opening the bills without dread. Whatever your definition is, it means you command your money and not the other way around. That’s a victory worth celebrating.

9. You can get competitive with yourself.

Entrepreneurs are competitive by nature. The goal is to constantly improve and grow, so turn it into a personal competition. Can you make more business contacts today than you did yesterday? Can you motivate your sales team to crush the numbers from yesterday?

10. It enables you to dream big.

No idea is too crazy and no goal is too big when you are an entrepreneur. You can dream as big as you want!

What are some other reasons to inspire you to opt for entrepreneurship? Share your thoughts in the comments section below.



16 Leadership lessons from MS Dhoni for startups, entrepreneurs and managers

Dhoni’s leadership style offers invaluable lessons to managers/entrepreneurs at all levels. Here’s why.

MS Dhoni, India’s most successful cricket captain, is well on his way to be regarded as one of the greatest leaders the game has seen. In the past, people have attributed his success to luck, timing, good fortune and the like. But on closer analysis of his success, we see a clear pattern emerging.

Dhoni’s leadership style offers invaluable lessons to managers/entrepreneurs at all levels. Here’s why:

1. Gets Shit Done

Dhoni is great at delegating but when faced with pressure situations, he led by example. For example, take the case of promoting himself in the batting order in the World Cup final versus Sri Lanka.

2. Strategic Thinker

Dhoni makes plans before they are required. He always has a plan and knows the strengths and weaknesses of his troop as well as his opponents more than the opponent knows themselves. Remember the time he told Robin Uthappa to bowl during the bowl-out in T20 final against Pakistan? He had seen Uthappa repeatedly hit the stumps in the nets.

3. Right Ambition

He has no personal ambitions. He does not care about being the best batsman or the best wicketkeeper. He enables his team to become those, caring only for the success of the team. I remember a time when he got nicked off at 99 and the bowler asked him if there was a nick and he said, “Yes” He plays for something bigger than himself.

4. Courage & Instinct

Dhoni has the courage that is needed to take risks with partial information. He calculates and plans, but sticks to his guns if he believes it’s the right thing to do for India. For instance, take Rohit Sharma’s case – he was out of form but Dhoni believed in his calibre when the country was making fun of his decisions.

5. Manages His Psychology Well

How easy would it be for Dhoni to lose his cool? Billions watching his every move and a billion hearts expecting India to win. His most redeeming quality is his calm, when faced with a mountain of pressure. If you’re an entrepreneur, managing your own head is the toughest thing to do, and Dhoni does it really well.



6. Uninhibited style

Hailing from a humble background, Dhoni never let this aspect hinder his style or behaviour. In fact, he managed to channelise this raw rustic energy to his on-field performances.

He was never shy of expressing himself in any given situation. In a competitive world, you are often judged by your past or stereotyped and it is important to maintain a positive ego at all times.

7. Managing egos

In a hierarchyled environment, Dhoni was catapulted to captaincy ahead of several established players in a team laden with stars and former captains.

He took his time and didn’t interfere in their proven methods and managed to extract the best out of these stars at most times without ruffling feathers. Many young managers who inherit legacy organisations face this challenge at the workplace.

8. Change management

Dhoni did not rush through with change in personnel and team culture. He first established his credibility and over time dealt with these issues and managed the transition through the process of natural attrition and performance management.

Most CEOs confronted with change management issues at the workplace will do well to take a leaf out of MSD’s book and not take the “bull in a china shop” approach while dealing with change.

9. Managing success

Dhoni dealt with his early success with a lot of maturity with his feet firmly on the ground, which eventually led to his elevation. It requires a great degree of level headedness and humility to handle fame and money at an early age.

In a corporate context, early success need not lead to brash behaviour towards colleagues and customers. We have seen that, at times, young managers who see success early lose their balance and face early career burnouts.

10. Managing pressure

Ability to stay calm and keep his cool with a seemingly uncluttered mind is Dhoni’s greatest gift as a leader. This soothes the nerves of the rest of the team and ensures that they stay focused and continue to believe in themselves.

Dhoni is a lesson for all leaders in terms of their ability to manage extremely stressful work environments. Managing periods of high stress without losing your composure is the key to long-term success and good health.



11. Focus

Dhoni has immense ability to insulate himself from the surrounding environment and continue to focus on the job. The current Champions Trophy campaign is a case in point in the wake of the IPL controversy.

In a corporate context, it is vital for managers to stay positive and focus on the task at hand and avoid distractions and negative energies in play at the workplace.

12. Instinct

There are occasions when managers forget the ‘gut factor’ in decision making when confronted with data. Dhoni has often followed his instinct and on most occasions has been proved right.

At the recently concluded Champions Trophy final against England, while data would have dictated that he choose Umesh Yadav to bowl one more over, he chose Ishant Sharma for the crucial over which turned the match for India.

13. Managing failure

After the heady success of the World Cup 2011, it was just downhill for Dhoni and his team. After a string of embarrassing losses, it required great character and attitude to bounce back.

He did this in style and answered all his critics with the sheer weight of his performance once again. At the workplace, failure has to be dealt with the same fashion as success and one has to continue to be focused on the job at hand.

14. Invokes respect in the rivals

By his mere presence, calmness and body language Dhoni invokes great respect and fear in the opposition camp.

In a work environment, it takes a great deal to be respected by competition who would be itching to have you on the other side of the fence. This comes through sheer performance and acknowledgement from your internal and external stakeholders.

15. Backs his people

He places immense trust on his people and backs them to deliver. This allows them to express themselves freely without the fear of failure.

At the workplace, team members reciprocate and feel a sense of responsibility based on the trust shown by their leaders on them.

16. Versatile

Dhoni is hands on, is versatile and can adapt to any situation. He plays all the three formats of the game, can bat in any position, keep wickets and can roll his arm over if required. Versatility and adaptability is the key for long-term success for executives.

As a leader Dhoni is aware that the spotlight is on him but he never hogs the limelight. He keeps a check on his emotions all the time both in victory and defeat. He still has lot of cricket left in him and perhaps, for us, there are more lessons to learn from him.



Flipkart and Amazon prepare for sales in May, Soon After Lockdown

Flipkart and Amazon have asked their partnered brands and sellers to stock up for the post lockdown sales. They are expecting that many people are waiting to buy non-essential goods post lockdown. The demand for these non-essential goods is immensely high at the moment.

To cope up with the economic loss during the nationwide COVID-19 lockdown, Flipkart and Amazon have decided to put up mega online sales in May.

Flipkart and Amazon have asked their partnered brands and sellers to stock up for the post lockdown sales. They are expecting that many people are waiting to buy non-essential goods post lockdown. The demand for these non-essential goods is immensely high at the moment.

To avail the maximum benefit and recover from the loss of lockdown, they are planning to reduce the discounts.

Brands now know that, after the quarantine, customers will be looking for the availability of products rather than discounts. The new sales will not be based on cuts rather than they will be based on high demand.

Due to the Coronavirus pandemic, people are shifting to online platforms for buying groceries and other things. Therefore, a significant boost in E-commerce growth is expected.

Avneet Singh, chief executive of SPPL, which makes Kodak and Thomson smart televisions, said that e-commerce marketplaces have witnessed new consumers in the age group of mid-thirties are ordering products online for the first time. Singh believes that these new consumers will help boost online sales after the restrictions are lifted.

So far, Odisha is the state to allow all e-commerce platforms, such as Flipkart, Amazon, BigBasket, Grofers, Swiggy and Zomato, along with their third-party logistics partners, to resume operations during the second phase of the lockdown. Learning from Odisha, other states and central authorities are expected to take similar actions.

How Elon Musk Started – The Life Of SpaceX and Tesla’s Founder

Elon Musk is now Earth’s most future-oriented person. How did such a person come to be?

Elon Musk is now Earth’s most future-oriented person. How did such a person come to be?

Also read: How Bill Gates Started – The Life of Microsoft’s Founder

In a hundred years, when most people reading this and the person writing this are long gone, Musk’s cars and rockets will still be circling the Earth and the skies. How can such a person get started against all odds is the question. And, more importantly, what can we learn from him?

Learning From The Outlier

Learning from Musk might seem naive. After all he is an outlier even among billionaires. We think this is exactly why he is worth studying – you don’t get insight into the extraordinary by studying the ordinary. Even with a sample size of one Musk we may find something in the way he started out that is fundamentally borrowable.
Sure, we can’t recreate the exact circumstances of his life for ourselves – we all have different parents, live in different countries, and have different bodies. Despite all the differences, we have control over our mindset as much as he does over his. This part of Musk we can borrow. The ways he deals with uncertainty, the books he reads, the ways he makes promises, and patches up his own mistakes are all borrowable, for example.

Thinking From First Principles (And Not Just By Analogy)

You might be skeptical about how studying another person’s life can help. His circumstances are not like yours. Musk would be the first to remind us here to think from first principles, as scientists do, rather than by analogy. Why should you think like Musk? You might know better than him after all. It’s true that thinking from first principles gives a truer result. But it also takes time which is limited for all of us. Yes, it’s best to think about your situation from scratch. But reasoning by analogy makes sense given that life is finite. To minimize our own mistakes we don’t need to borrow the exact decisions Musk made but study the way he makes them. Then we can apply his thinking method to what we know to be true for sure.

It’s Easy to Explain Greatness in Hindsight – The Narrative Fallacy

One psychological barrier to learning from other people’s lives is the narrative fallacy – making a neat story out of facts that at the time of their happening made little sense. As the classic book on improbability The Black Swan explains, we do it to deal with the randomness of life – we explain it away because we know how the story ended. We’d rather not figure out why we didn’t know what we didn’t know.

The media often write this way. Articles about Musk call him a “genius”, which he is. But labels like this make his accomplishments sound like a foregone conclusion. They aren’t. For example, he still has to deal with big oil companies that want to see Tesla go down.

We might assume he knows what to do with this because he is a “genius.” But genius is not a strategy. And his victory is far from certain. As you are reading this, he is doing something to deal with the uncertainty of his situation. What sort of a mindset is he in?

Life = Decisions + Circumstances + Results

Life is a combination of decisions – things you do; circumstances – things that others do to you, including people you’ve never met, like politicians; and results – your decisions + the circumstances.

Labeling each significant event in Musk’s life on a timeline produced a lot of decisions, unsurprisingly. It’s fair to say he is a product of his decisions more than his circumstances. Musk seems to have been decisive and deliberate from the start. A quick glance at the timeline shows that his decisions by far outnumber his circumstances.

Also read: How Jeff Bezos Started – Life of Amazon.com’s founder

Learning Faster Than You Are “Supposed To”

A pivotal moment in Musk’s life came when he got his computer. It came along with a BASIC programming language workbook. The workbook was supposed to take 6 months, but he decided to stay up for 3 nights in a row and finished the whole thing. Within 3 days he basically was a programmer by the 1984 standards. His new skill brought his first success – he wrote a video game called Blastar and sold it for $500.

Even today in most countries universities don’t encourage you to graduate faster even if you learn faster. Lawyers and doctors are required to be in school for a certain period of time regardless of their learning speed.

The Immigrant Mindset

Do you need to move far away to bring out the best in you? Musk plotted his escape from South Africa ever since he had access to information about America. His idea of America was cliché – he didn’t overthink it. He wasn’t interested in criticizing the system – he wanted to move to the land of yes-men, and he was one himself.

Getting His Hands Physically Dirty

Musk doesn’t seem to think that physical work is beneath him. He embraces it. When he moved to Canada at 17 on his own, he sought out a job that required him shoveling dirt in a boiler room wearing a hazmat suit. Even today, with his designer clothes on, Musk walks the floor of his rocket factory and sometimes gets physically involved in the process – his clothes ruined with epoxy.

Sharing Wildly Ambitious Plans

Compared to other people and companies, Musk has an unusually futuristic outlook. He has made and shared his plans for as far away as his death on Mars after he helps a million people move there on his rockets at $500,000 per ticket. It’s easy to dismiss this as marketing hype – and people did dismiss a younger Musk. By now it’s clear though that he lives up to his ambitions.

Not Looking Back

Musk is known for not hanging on to things or people. He looks forward. Ironically he might have a lot more to look back at and be sorry about than many. His first child died at 10 months old, he divorced his first wife, the first 3 times he launched his rockets they blew up – one of them destroying an expensive NASA payload. He has blown promises, missed deadlines, miscalculated costs and had to charge customers extra after they had already paid (Musk had to ask 400 customers who already prepaid to add extra $17,000 for each Roadster). This list alone is enough, I believe, to make most people look back and infer that maybe it’s time to reign in the ambition, to mend relationships, etc. But that is not the point – for all his failings, Musk is capable of greatness. His products justify his mistakes. At the age of 44 he still has more to gain than he has lost – more rockets to launch, more cars to manufacture, and even more children to have.

Starting Really Small

Compared to what Musk is doing now – electric cars, rockets, and solar panels his first businesses were ridiculously straightforward – selling computer parts from his dorm room, running a glorified speakeasy from his house in college. Would he do this if he saw a straight path to making electric cars back in college? I think not. It looks like he took incremental steps towards a goal he had no idea how to reach at the beginning.

Just Enough Money To Start

Most people would say that it’s the lack of money that prevents them from starting a startup. Musk’s biographer helpfully tells the amount he had when he started. Between him and his brother Kimbal they had $28,000 that came from their father plus $6,000 from their friend Greg Kouri, who joined as a co-founder of Zip2. Today the $34,000 adjusted for inflation would be $53,000. This amount was enough to set up an office in Palo Alto. Musk and his brother slept in the office, showered at the YMCA, and subsisted on a diet of fast food.

Teaching Himself From Books

When Musk decided to do something with space he apparently realized that he needed to learn about space himself. He correctly estimated that money alone, which he didn’t have enough of to start a rocket company either, does not solve the space problem. Wealthy people have done this before – threw some money at a space project and watched it fizzle out helpless without the engineering knowledge. Not Musk. Jim Cantrell, an aerospace engineer that Musk cold called back in 2001 said this about how Musk learns, “He literally sucks the knowledge and experience out of people that he is around. He borrowed all of my college texts on rocket propulsion when we first started working together in 2001. ”

Over-Optimism, Over-Promising, and Over-Delivering

With both SpaceX and Tesla there is a pattern: make a wildly ambitious promise, delay the reveal several times, finally unveil the product, promise to deliver it soon, delay the delivery date, deliver a product that surpasses expectations.

In design I’ve learned that you can have only 2 out of the three things: amazing, fast, or cheap. Musk doesn’t seem to compromise on amazing. He is definitely striving for cheap (100 times cheaper rockets than now, Model 3 at $25,000 after tax incentives). So you don’t get fast. The Model X, for example, came 3 years late.

How Many Tries Does It Take?

It took 4 tries for Musk to successfully launch his first rocket. This number is low compared to his competitors who blew up a lot more hardware before it would fly.
There is one key difference, though – Musk only had enough money to launch 4 times. If the 4th time didn’t fly that would have been it.

Not Failing

“I’d rather commit seppuku than fail,” Musk tells an investor to explain why he should get the investment. This is a theme with Musk in negotiations, physical activities, and relationships. He might move on but he doesn’t fail. He might be late on his promises, he might come across as too pushy, or get kicked out of the company he started, but he doesn’t let things fail.

Also read: How Steve Jobs Started – The Life Of Apple’s Founder

This article was originally published in Funders and Founders

Image credit: abcnews.go.com

Why you should attend an entrepreneur workshop

If you plan on going the business route, an entrepreneur workshop is something you have to look for.

A new adventure, no matter what it may be, is exciting and filled with expectations. So much so that there are also a lot of things involved which can become risks in the future. Like everybody else, if you take on a new venture, you need to start somewhere. No one is an expert in the beginning.

If you plan on going the business route, an entrepreneur workshop is something you have to look for. It would help mold you into possessing the mindset of an effective businessman with the accompanying skills and confidence. If you are not yet convinced, here are some more reasons why you need to attend one soon.

Why Is It Important?

Not everyone has an entrepreneurial degree from college, but everyone has a fair chance of succeeding as an entrepreneur. Although it is not a matter of luck, it does involve skills, perseverance, and intelligence. And that is what any entrepreneur workshop aims to impart to its attendees.

There was a survey that took people’s reasons for attending such seminars. The top reasons are because they want to improve their skills, learn about what is new with the industry, and even expand their network.
What Should You Look For in an Entrepreneur Workshop?

Mentorship

People who should be conducting these seminars should know how to walk the talk. Therefore, when looking for an entrepreneur workshop, go to one who has successful businessmen as their speakers. These people have experiences that got them where they are and have not learned and played everything by the books.

Experiences

Not everything is learnable inside the four corners of any room or any book. Some programs let their students experience what it is like to work with and inside a successful company. Through these internship programs, the attendees do not limit themselves to knowledge while knowing how it should genuinely work.

Interaction

Some workshops would throw everything to you and tell you everything you must know. However, unknown to these organizers, attendees do not only arm themselves with the desire to learn but the need to express themselves as well. They attend these seminars because they are already interested in learning and probably have brilliant ideas inside them, too.

Therefore, when searching for the best workshop out there, look for ones that allow interaction between the speakers. It enables people to share fresh ideas while letting others learn from them too.

On-Hands Experience

Not every entrepreneur workshop has it, but there are some which allow them to have hands-on experience. It might only be a day, but some enable their attendees to have a little buying and selling or trading time. To make it even better, some organizers ask their students to make what they want to sell by themselves. It increases confidence and polishes their skills as well.

Should You Attend an Entrepreneurship Workshop?

Yes, absolutely. Anyone who intends to learn and has the willingness to is welcome to attend these entrepreneur workshops. However, it would help if you equip yourselves with a lot of patience and perseverance since it certainly is not a walk in the park.

Still, it is worth every penny since these workshops offer a lot of new knowledge for their attendees. At the same time, it allows you to improve your skills while allowing you to earn money on their own, for themselves.

Great management lessons every entrepreneur can learn from Ramayana

The epic saga has a few management lessons which every entrepreneur can learn in order to prosper in the field of business.

Ramayana is an epic written by Valmiki which symbolises many things like values, virtues, the triumph of good over evil, etc. However, when viewed in an alternate light, the epic saga also has a few management lessons which every entrepreneur can learn in order to prosper in the field of business:

i. Over commitment is never okay

Dashrath over-committed to his wife Kaikei which led to a lot of problems later and was dangerous later. This can prove to be a great lesson to entrepreneurs as they learn that it is better to promise less and deliver more instead of the opposite as your credibility is at stake here.

ii. Build your team smartly

When Ram had to cross the sea to reach Lanka, it was important for him to build a team that consisted of dedicated and loyal members. Similarly, if one wants to prosper in the professional sphere, it is important to be able to find people who will share your vision in order to succeed as a company.

Related Post: 5 management lessons entrepreneurs can learn from Mahabharata

iii. Be an able decision maker

Just like Hanuman was burdened with the task of taking a decision when he couldn’t find Sanjeevani on a mountain, every entrepreneur is bombarded with choices and hard decisions that need to be made without consulting anyone. Hanuman decided to carry the whole mountain which might not be the best decision but seemed like the most feasible one to him.

Related Post: 4 Lessons an entrepreneur can learn from Rocket Singh: Salesman of the year

iv. Making sacrifices

A person has to make many sacrifices in order to succeed in the entrepreneurial field as one has to work long hours and let go of a personal life. Unless you are willing to let go of certain things, you can never make it big. The best lesson of sacrifice you can take from Ramayana is from Sita who sacrificed the comfort of a home and luxuries of a queen to accompany her husband to the forest.

Related Post: 6 management lessons entrepreneurs can learn from Bollywood blockbuster Sholay

v. Get rid of the ego

Raavan was an able soldier and a great man in various aspects; however, what led to his downfall was his ego which he couldn’t curb. Similarly, a lot of entrepreneurs fail because their ego comes in the way and overshadows all the good things they have achieved. In order to be a good entrepreneur, put your ego aside and let your work do the talking.

Ask yourself these 6 questions and you will find what’s holding back your business

There are many ways to go about discovering where exactly you are going wrong.

Running a business is no small feat, but when you feel like your business isn’t living up to its full potential, something has to change. There are many ways to go about discovering where exactly you are going wrong or how to turn things around, like help from JM Reid Group, but asking yourself these questions will help you find what’s holding back your business from higher heights.

1. Are you comparing yourself to the right people?

It is very helpful to compare your business to other similar business when it comes to analytics and market research. But it is not fair to your business to compare to more established companies that have already gone through the weeds, complications, doubts, failed marketing campaigns and more. When you measure your business against one that is truly not your contemporary, you are destined to come up short. They have had more time to make adjustments and improvements you probably never knew about.

2. Do you expect instant results?

When you implement changes it helps to be patient. Most adjustments you make to your business will not bring about instant results. If you lack the patience for good things to come to fruition, you will experience avoidable frustration and stress. Giving your business the time and space to expand and excel is a must in taking your business to the next level.

3. Are you flexible?

When things don’t pan out how you hoped they would, it helps to have a contingency plan. Being flexible allows you to adapt to the market conditions and to take corrective measures. Having a plan is great, but it’s not always a good idea to stick to it no matter what. Bend a little and see where it takes you. You may be surprised by the results.

4. Are you alone?

It is one thing to be the only employee in your business, but knowing when and who to ask for help is essential to the growth of your business. And if you are not the only one handling the workload, you have to trust your team to play their roles. Keeping others on the outside increases your stress. Not to mention, spreading yourself thin keeps you from putting as much effort as you could be putting into what you’re doing.

5. Do you take action?

Having well crafted plans and awesome ideas don’t count for too much if you never take action. All the meetings, criticisms and visualizations won’t make any difference to your business if you don’t make them a reality. If it doesn’t work out, then you adjust as needed.

6. Do you know when to let go?

Knowing when to let go of an idea, project or client is more important than you might think. When you’ve been patient and flexible and it’s still not right, it might be better to wash your hands and and let go.

Don’t stand in the way of your success. Think critically and rationally about the direction you want your business to go. And when you’ve realistically assessed your situation, make a plan of action and hit the ground running. You can find success.

Critical mistakes that can sink your entrepreneurship efforts

A closer look at some of the more common pitfalls of entrepreneurship, and how you can overcome them.

You’ll see many successful entrepreneurs and business owners talk about their road to success in interviews, on their professional profiles, and in the media in general. Rarely will you find a business owner talking that openly about their previous failures, of which there might as well be several, not just one. They’ll talk about what helped them reach their heights and share their finest tips on how you can do the same. However, sometimes it’s wiser to learn from the mistakes of others than to only focus on their greatest triumphs. After all, most of these victories were built on their previous failures.

So, let’s take a closer look at some of the more common pitfalls of entrepreneurship, and how you can overcome them, or preferably, prevent them while you’re building your own entrepreneurial empire. Of course, they are certainly not the only ones you’ll encounter, so make sure you learn as much as you can about the risks your specific niche comes with, so as to brace yourself properly for its challenges.

Not securing your cash flow

Unlike the entire budget for funding your marketing campaigns, brand development, and overall business strategizing, cash flow is the “live” money you need to have for everyday operations. It’s the money you pay your suppliers and your manufacturers, the money your customers pay for your products or services, that allows your company to stay liquid. In your rush to impress your customers or build relationships with suppliers, you might fail to negotiate a deal that enables you a steady flow of cash for your daily operations.

Now, in addition to traditional ways to secure cash flow, you can also look into other options such as invoice factoring that enable you to receive a regular influx of cash, and give your customers a more flexible timeframe for their payments. This prevents disruptions in running your business and allows you to invest the money in the most relevant sectors of business development.

Failing to understand your business model

Much like with everything else in life, there is no such thing as a one-size-fits-all for your business endeavours. If you’ve spoken to another entrepreneur and discovered that their specific model works wonders for them, don’t be too quick to assume that the same one will be optimal for your professional goals. Understanding, for example, what a franchise business definition entails can mean the difference between choosing a profitable franchise with a strong support system or investing in a less optimal opportunity. In the same manner, knowing what it takes to become a startup owner can help you establish if this is a good match for your business idea.

The former model allows you to work under an established brand and use the help and support from the management every step of the way. The latter, on the other hand, comes with that innovative excitement of delivering a unique solution to your customers’ issues. A partnership, on the other hand, could be the best way forward for you, especially if you cannot finance a solo endeavour at this point in time. Do your homework before you settle for a model, and talk to entrepreneurs with similar experiences to get a first-hand glimpse of each one.

Not creating a market-specific product

Some entrepreneurs simply want to please everyone. The truth is, you cannot possibly do that and be able to make your brand stand out in this beehive of a business crowd. Differentiating your brand by settling on a specific set of services or products you can offer is still a pivotal step in making sure you aren’t a jack of all trades in your industry. This also raises doubts when it comes to your expertise and experience, and reduces the credibility of your brand for the long haul. If your goal is to solve a particular problem, make sure you declare your goals in every aspect of your business.

Too wide of a target audience is as harmful as sticking to a very small pool of interested people. You can always expand your services or products once you earn your market’s trust for your initial offers. Until that day comes, make sure that you know precisely who your target customers are, what they want, and how you can deliver an exceptional product or service to help them enjoy their lives more.

Not ensuring proper funding

Unlike cash flow, funding problems are ones that can prevent you from either starting your business altogether, or they can cut your entrepreneurial journey short once you run out of funds to finance your strategy and service. Do you need engineers and developers as members of your staff? Can you pay for your office space? What about marketing? Before you even start talking to your potential crew, you need to make sure that there’s enough financial backing to your idea.

Go to investors, banks, and friends and family if need be, but talk to them with a strategic approach, a forecast for your profit, and plenty of ideas and plans as to how to execute your strategies to succeed. Every solid innovation and even powerful franchises require that initial capital that will help you launch your business. Do your research to see what sort of investments will be necessary to fund your idea, and of course, remember to build a contingency funding plan just in case the first one falls through.

You are bound to make mistakes on your way to building a successful business. However, make sure to prevent some of these most common and most harmful errors of judgement that might drive the entire project to the ground.

Keith Coppersmith is a business and marketing expert who has experienced both the rise and fall of many businesses. As a regular contributor at BizzmarkBlog, he enjoys writing and providing insight of the marketing industry based on both practice and theory.