How to Leave an Indelible Mark in the world of Entrepreneurship?

Entrepreneurial Skills

“The best way to not feel hopeless is to get up and do something. Don’t wait for good things to happen to you. If you go out and make some good things happen, you will fill the world with hope, you will fill yourself with hope.”

― President Barack Obama

The most successful entrepreneurs, without exception, are the people who have been engaging in several steps for a long time that has made them who they are. Leaving a positive mark and success is never an overnight task, but something that needs consistent and conscious efforts. Being an optimist is one of the true characteristics and benefits of entrepreneurial skills. It doesn’t help to have a negative attitude towards life. Being positive in face of failures that life throws at you will help you get through the hurdles, and leave an indelible mark, just like the most successful entrepreneurs in the world today.

1. Keep It Simple

“In terms of doing work and in terms of learning and evolving as a person, you just grow more when you get more people’s perspectives… I really try and live the mission of the company and… keep everything else in my life extremely simple.”

― Mark Zuckerberg, Founder, Facebook

Keep your mind free of clutter and see the bigger picture. You gain more when you learn to open your mind and read other people’s perspective. This will help establish you as a listener—which is so very rare in the world nowadays.

2. Live By Example

“If there is such a thing as good leadership, it is to give a good example. I have to do so for all the Ikea employees.”

― Ingvar Kamprad, Founder, IKEA

Set an example for others. Whether you are a business owner or an aspiring entrepreneur or have good business ideas, the way you live your life should speak for itself. Live up to your ideas and others will follow your example.

Set high standards for yourself. Let others always see you pushing your limits and doing and giving your best.

3. Power of Sharing

“I cannot teach anybody anything. I can only make them think.”

― Socrates

The one thing you could do to make your entrepreneurship journey, as well as your life successful and worthwhile, is to share what you know. Sharing anything you believe is worth sharing could leave a positive mark on others. You could become a key in the life of others. Think how powerful that could be.

Ways to Prevent Harassment at the Workplace

Essential Steps for Preventing Harassment in the Workplace

As a business owner and employer, you have the supreme responsibility to maintain a workplace that is safe for your employees—regardless of gender. Ethically and legally speaking, preventing workplace harassment is your obligation. Speaking in business terms, employees love that their employer cares about them—leading to high moral, high productivity and a healthy workplace—all good for the business.

It should be every employer’s priority to prevent sexual harassment at the workplace and bring on an environment in which men and women equality matters and when it comes to women there are many challenges of women empowerment.

In this article, we will look at the definition of sexual harassment and provide information to strategies that you could implement at the workplace to make it safe for your employees.

What is Sexual Harassment?

Sexual harassment can be defined as any unwelcome sexual advance made by any gender on the same or opposite gender—in the workplace that creates a threatening, hostile, or offensive working atmosphere. Which brings us to the next question.

What Can be Construed as Sexual Harassment?

Any conduct of a sexual nature that makes a female or male employee uncomfortable can be construed as sexual harassment. The term “sexual harassment” falls under a broad definition; hence it comes in many forms. Following are some examples of sexual harassment in the workplace:

A manager hinting to an employee that he/she must sleep with him/her to get a promotion.
An employee making condescending comments about female customers to his colleagues.
An employee in a retail store feeling uncomfortable by the owner who regularly tells jokes which are sexual in nature.
A salesperson fondling or pinching a coworker against their will.
A secretary’s superiors demean her/him.
An employee sending an email to colleagues that contain sexually explicit language or posting such content of the office board.

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Are You Driving Your Business Without a Helmet?

Business Safety

Not having a business plan, proper marketing strategy, and not conducting regular market research is akin to driving without a helmet—you are extremely vulnerable to any kind of fatality in case of any accidents; in this case, you are exposed to a lot of risks which otherwise, can be easily prevented.

Are You Driving Your Business Without a Helmet?

As everyone knows, you should wear a helmet while riding motorcycles. The same concept applies to business. Replace the word “helmet” with a business plan, contingency plan marketing strategy, capital, and market research. Now read the same sentence again.

Are you driving your business without a business plan?

Are you driving your business without a contingency plan?

Are you driving your business without a proper marketing strategy?

Are you starting your business without sufficient capital?

Are you driving your business without conducting proper market research?

Now you get the point. Here is why “driving” your business without a “helmet” is dangerous.

Having a Business Plan is Important for Long-Term Success

A business plan is an important part of starting a new business. The fact of the matter is that business plans can take up a chunk of your time. It requires research and getting your data right. While writing a business plan, you will likely come across a facet of your business that needs in-depth research.

However, not every business person is sold on the usefulness of a business plan. Experts also argue that taking the time required to write a formal business plan leads to the startup process being delayed that cost valuable prospects for a small business. Studies have even found that there is no effect on the success rate. On the other hand, leading experts argue that entrepreneurs who take the time to write formal business plans are more likely to achieve success.

The point here is, the success rate doesn’t depend on your ability to write a business plan, it depends on your ability to drive business. Having said that, the process of writing a business plan helps you to straighten out your ideas; the research involved in the process helps you establish facts and figures and come up with something that is viable rather than a fantasy.

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How To Start a Residential Cleaning Services

Well, you will be actually surprised when you hear how much some people can be dirty! Well bachelors. Being single is the new thing in. People are taking care of their careers and soaring to heights (as you will too). And as the workload increases many of them don’t get time for cleaning their houses! Now, these people are desperate. They would readily shell up some moolah in order to get their place straight after a week of working/partying (Whatever, all you need is a dirty place to clean!) Now this is where you come in with your residential cleaning services.

Targeted at the elite/working class (aka desperate class for cleanup of household mess) of the human race, what you do is provide your cleaning maid/s for a fee to clean their messed up flat/house. Make sure they are not underage, and make sure they are registered and ok to work and that you follow your region’s labour laws to the fullest. We don’t want to end up in mess, do we? Ever watched Two broke Girls? Well the hot Russian lady ran a cleaning service. Just an example of how urban class is in need of such cleaning services..

Business Expertise

The first thing to keep in mind while opening this kind of business is that you should know how to clean a home professionally. You may have lots of experience in cleaning your own home, but when it comes to professional cleaning, it goes on another level altogether. Your clients will expect you to have some cleaning experience. Cleaning of a house involves cleaning of floor, bathroom, restroom, walls, carets, furniture etc. You might also want to consider the kind of equipments you may need: vacuum cleaner, brooms, cleaning agents, bleach, acid, etc for these purposes.

Legalities involved

Do proper research on your area’s required licenses, rules and regulations, employing of maids/labourers, what to charge and insurances. Age of your servants is a major criterion. You must understand that employing underage children (below 18 in India) is a crime. Having a proof of their age should be a top priority on your list. Also you must also get their police verification done. You don’t want to get involved in any police case due to your nature of work.

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Take Breaks for Better Efficiency

Human productivity is an important aspect of the modern world of business. This article is all about how businesspersons can become more productive when they take a break; as many as possible during work hours. Business energy efficiency is not only important for doing precision work but also for achieving a higher rate of efficiency.

Defining Productivity

Let’s define productivity first. Productivity can be defined in many different ways and one of the most popular quotes on productivity is by Paul Robin Krugman, a distinguished professor of economics and winner of Nobel Memorial Prize in Economic Sciences. He says (The Age of Diminishing Expectations (1994)), “Productivity isn’t everything, but in the long run, it is almost everything. A country’s ability to improve its standard of living over time depends almost entirely on its ability to raise its output per worker.” Here note his emphasis on the individual worker.

According to Krugman, productivity is measurable and the metrics depend on the purpose.

Statistics on Taking Breaks

Invariably most industrial and business psychologist agree that pushing too hard does not necessarily improve productivity – taking a break often, on the other hand, is certain to bring about improvement though not everyone agrees on how many breaks or how frequently during working time. One thing on which everyone agrees is that taking a break away from a task that is defying solution will help to find a solution later.

Here is some statistical information:

Research has shown that sleep deprivation can affect office productivity. Researchers recommend that a midday break can help your brain to work better and in a more coordinated fashion.
Whether employers like it or not, workers take time off for rest; most often than believed. These rests are in disguised forms – doing non-core activities that require less concentration.
Researchers say that fatigue is controllable and can improve the networking hours of employees. They observe that: there was an improvement in productivity when the short breaks included stretching exercises.
Here is one from neuroscientist Mark Waldman, a reputed scientist and author of many books on training the brain for happiness and improving productivity. He says, “The research has found that taking breaks during each hour to consciously relax, stretch, meditate, or do something pleasurable–even for 10 seconds–will reduce stress, enhance your awareness, and significantly boost your concentration and productivity.”

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Participation – The Mantra of Success

Every human on earthworks hard to achieve something in life and success comes to those who travel towards it. Every company goes through times of trials and tribulations – while some stand against the tides of difficulties and become successful, companies not prepared for such periods eventually meet their doomsday. The powerful Mantra every company should adopt is 100% participation. To get everyone involved in an organization ultimately depends on the management process. Implementing a successful management requires a business strategy that is steering the company towards success for everyone. How can you formulate a successful business strategy using success Mantras? Here are 7 powerful Mantras using which you can achieve success in your business.

1. Forge stronger participation among employees

When an employee puts a wholehearted participation in a company, it delivers a tremendous result in the business. Participation simply means increased ownership of the job that someone is at. To instill a sense of participation, the management should try to build a stronger relationship with the employees. You can start by encouraging networking in the workplace. It is not only fun but very important to the company’s growth. It can also help average employees to turn great and great employees to become great leaders.

2. Build a friendly work culture

Whether your company employs three people or three hundred people, you should constantly work toward building a unified work culture. Identifying the best talents once a month, going out on a picnic as one group, having online collaboration tools, blogs etc. can help create a friendlier environment in the office which will have a positive impact on company’s growth. Provide them with opportunities to learn and grow in their respective career, because the company’s success is intertwined with the success of the employees. Be open to receiving feedback from employees and allow them to express freely in an informal one-on-one setting. This will give them a chance to comfortably voice their thoughts, ideas, and concerns.

3. Know your customers

Any business that knows its customers’ needs and wants would achieve success without a doubt. But how can you get to know about your customers? The best way is to do a market research. It might require the help of a market research consultant who would offer you the best business consulting services. The market research consultant studies your target audience and formulates a strategy that will guarantee 100% success in your business. You can easily find the best market research consultant in India online

Based on the research done by the business consultant, you can design your product accordingly. Promote the benefits that a customer can avail rather than the features of the product.

4. Focus on quality

Though cost efficiency is an advantage, you should never compromise on quality. Top companies are adopting innovative solutions to reduce the cost without lowering the quality. In an increasingly competitive globalised market, it has become more than a necessity to have operational excellence in delivering quality service to their customers. To retain your customer and have a long-lasting relationship, it is essential to have a product that has a long-term value.

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How To Prevent Document Leakage?

Information Leakage Prevention

“Data on 540 million Facebook users exposed”

“Adoption families hit by data breach”

“NSA contractor pleads guilty to data theft”

“An HIV data leak has left a community in fear”

“Internal database of B&Q was accessible to the world – no password required”

It is headlines like these that strike fear in our hearts.

Data leakage is not an annoying thing anymore — like when a salesperson might take a customer phone number list or maybe a manual. Now employees and hackers alike can access the whole list, trading history, financial contracts, emails, phone numbers, product blueprint, credit card information, customer data, competitive analysis, product documentation—the list goes on.

Information leakage is one of the most pressing problems for government organizations, startups and established business alike. It poses a threat especially if the documents you have are of a sensitive nature (blueprints, credit card information, customer data, trade secrets, financial statements, etc.) Oftentimes, the enemy is within the walls of the company. However, in some cases, breaches occur when a third-party provider is involved, allowing the leakage of sensitive data.

For businesses to protect themselves, they must establish a framework like information leakage machine learning, so that it will detect leakage itself without much intervention. Develop a data leakage prevention strategy and apply best practices for document compliance. It should address security policies which helps protect information shared with third parties. It is at best, a balancing act. Follow the tactics listed below to lessen the challenge:

Rank all business processes involving the flow of data outside the organization according to the level of risk posed to identify threats.
Define security policies for all types of documents.
Provide a two-factor authentication to protect against password theft.

Any business today run a high risk of exposure through data leakage. There are several ways to keep your business data protected and secured.

1. Categorize Critical Data and Utilize a Data Loss Prevention Software

There are some steps to it. First, businesses must recognize own critical data. They must be able to identify it and be able to classify it according to its criticality. Businesses must know how to utilize data loss prevention software (DLP Software) to protect any sensitive information. Depending on the industry, this could be blueprints, credit card information, customer data, trade secrets, financial statements, etc.

A thing to note — DLP software relies heavily on proper organization of data. Businesses should have a data protection strategy in place, mainly targeting sensitive documents and the way they are handled. Data leakage prevention best practices should be discussed well before the inception of the business itself — that’s how important data prevention strategy is.

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Are Coffee Shops Profitable?

If you walk by any coffee shop and it will likely be full of coffeholics, enjoying not only coffee, espresso and lattes, but also a variety of specialty teas accompanied by an assortment of pastries and sandwiches. Serving quality coffees, teas and snacks in a trendy setting is generally a hugely successful business model pioneered by Café Coffee Day, Barista Lavazza, Starbucks and the like. If you love coffee and are looking for opening a coffee shop, read on!

Most entrepreneurs planning on a coffee shop (or any coffee business) will ask this question—how profitable is a coffee shop? They will have questions about the level of profit they could expect. Wondering how much coffee shop owners make should be on top of your question list, especially when you are in the beginning stages of planning and opening a coffee shop. Chalking out a coffee shop business plan should also be on your agenda.

There are Three Options to Open Your Coffee Shop Business

Purchase a Franchise

If you have the budget, but don’t have the expertise, you could consider buying a franchise. In this case, most of the major business decisions will be made for you. You will be provided with a business that is ready to roll, for a franchise fee.

Buy an existing business

This is another way to acquire a turnkey business. However, keep in mind that finding a profitable existing business for sale is a gargantuan task.

Open Your Own Coffee Shop from Scratch

You would need to put in your effort and sweat. But often, this option is the most rewarding in terms of maximizing profits and also offers the most flexibility.

Whatever your option be, make sure to write a comprehensive coffee shop business plan.

There is no one secret formula to owning a coffee shop which is profitable. It is a matter of fact that the most profitable businesses can be attributed to either smart work, experience, or luck or a perfect combination of the three. So, what are the other secrets to a successful coffee shops?

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What is a business plan and why is it so important to the well-being of your business? Read on to know more.

What is a Business Plan?

It is a formal document that describes a new business venture. The importance is manifold. It describes the startup and its products or services, how it plans to earn money, plans for partnership, leadership and workforce, financing plans, operations model, and other details that are essential to the management and success of the business.

Entrepreneurs know the importance of planning the business in entrepreneurship. They create them as part of the pre-start up the process. Existing businesses use them as a guideline or roadmap to review where their business is headed. They often write them when a pivot in business is called for, like changing a business strategy, forging new alliances, introducing a new product, or simply to understand how to better manage their business. Typically, most plans cover the business’s first three to five years.

Importance of a Planning

While a well-written plan is required by anyone looking to seek funding from investors or financial institutions like a bank or NBFC, having a well-thought-out business plan is often recommended for all start-ups as it serves as a roadmap or guide for the business. Also, while writing a plan, you can potentially see loopholes and identify weaknesses in the business model. The plan writing process also helps unearth other specifics such as concept weakness that can potentially cause a shift in how the business is positioned.

The Goal of a Business Plan

So, what’s the goal of planning a business? Simply put, it conveys your business vision and goals, the strategies you’ll use to meet your business goal, potential problems that you may face as a business and ways to overcome them. It also contains vital information about the organizational structure of your business, a model of your business and finally, the amount of capital required to finance your business venture and keep it afloat until it breaks even. The goal of a corporate strategy plan is to provide as much information as possible to the owner about what is required to reach business goals. It also lets you know whether your business concept is sound and strong. Following is the information you would need to outline in a plan:

Business idea/concept
Market reach and feasibility of the business idea
Your competition and how you are different from them
Capital needed to start the business
How you plan to raise the capital
The equipment or facilities needed for business operation
Business model
Location of the business
Workforce required for business and how you plan to hire them
Your competitive advantage and how you plan to leverage it

A well-researched and thorough chalked implementation plan guides the organization onto a successful path and informs nearly everything the organization does. You could approach a business plan consultant or business consulting firms to help with your strategy plan.

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How to Properly Start a Business?

Starting a Business

Starting a business involves meticulous planning, making important decisions regarding capital and finance, and going through legal paperwork. Read on to know about the steps involved in starting a business venture

1.Conduct a Well-Thought-Out Market Research

Got an idea? Well-Conducted market research will tell you if there is a need for your product/service or whether there is an opportunity to turn your idea into a successful venture. Market research is a way to identify potential customers, competition, deciding a location for your business and to find your niche. You can use that information to find a competitive edge for your business and make it stand a cut above the rest.

Market research is a way to look at consumer behavior across channels and observe current trends to come up with plans to improve and tweak your business idea around the findings. It is crucial that you understand your customer base from the start. Market research is one of the best ways to reduce risks, which is why you should invest in it. Its ROI is immense. Gather information to better understand opportunities in your area of interest and also the amount of competition you face. Is there a scope for your idea in the market? What is competition? And more importantly, what are the limitations? Gather data on target customers, their age, financial status, interests, and anything that is relevant for your business.

Good market research covers the following:

Demand: Is there a demand for your product/service?
Market size:what is the potential size of the market?
Interest: How many people would be interested in your product/service?
Economic indicators: What is the financial status of the consumer demographic you are targeting? What is their employment rate?
Location: Where are your target customers located?
Saturation:How many similar businesses are operating?
Competition: Are their offerings better than yours? Where does your idea stand in the competition?
Pricing:What is the price point and how can you price your product/service competitively and yet stand to make a profit?

You can do market research yourself or approach a market research consultant. There are many Market Research Firms in India whom you could approach.

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