18 Jun

What Kind of Skills Does A Startup Founder Need?

Skills Startup Founder Needs

Attendly– an Event registration platform, shared this interesting Inforgraphic about the skills a startup founder needs. Check it and do share your thoughts in the comments.

Skills Startup Founder Needs

27 Mar

5 Entrepreneurial Lessons You Learn in College But You Don’t Realize

entrepreneur lessons you learn in college

 

I have read many articles all over the web that you don’t need a degree to be a successful Entrepreneur. Though I completely agree with this point and believe that Success is not about reading textbooks or doing MBA but still there are many Entrepreneurial Lessons which you learn in College time and you don’t even realize that.

entrepreneur lessons you learn in college

1) Teamwork: Running a successful business depends upon the teamwork. A good team is the backbone of a company. You can’t do it alone. When you’re in college, you are learning this attribute all the time. For instance, while making projects, organizing events or even during group fights. You always need the support of your friends or batch-mates.
There’s a saying, ” A team with a star performer is a good team, but a team without one is a great team”.
In college, you always have a great team – bunch of passionate learners who wants to excel in everything in life.

2) Leadership: In colleges, students always form these small groups to hang out, watch movies and do everything together. And in these groups, there is always a leader who is taking most of the group decisions.
Leadership is all about making people say, ” I will do anything for you”.
So, you might not realize but you are actually nurturing your leadership qualities by taking those small decisions and making people stand for you.

3) Managing Limited Resources: Let’s accept the fact that we always have limited cash resources during college time. And still we’re able to manage our alcohol expenditure, phone bills, movies with girlfriend and other expensive activities.
In college time only, we started to learn the virtue of improvised arrangement or adaptability because of lack of resources termed as “Jugaad”.

4) Guts and Perseverance: You lose your first love. You have your first heartbreak. You fail in exams while your friend is getting good marks. But still you learn to stand up again to find a new love. You study hard day and night to get better marks.
Because Entrepreneurs never give up. Rovio made 51 unsuccessful games before their overnight success with Angry Birds. Always remember, every failure will take you one step closer to success.

5) Passion: College is the time when you realize that you want to be an Entrepreneur, or an actor, or a singer. If you love something and passionate about it, do give it a try. Twenty years from now you’ll be more disappointed by the things that you didn’t do than by the ones you did do.
Though many people will try to drag you down by saying that you can’t do it. But just follow your instinct and passion and just do it.
Life is short. Live your dream. And wear your passion.

25 Mar

7 Entrepreneurial Lessons You Can Learn By Doing Sales Job

entrepreneur

I always wanted to work in Sales. Sales is the foundation of any business. There’s a saying that,” If you are good in sales, you can be successful in anything in life”. Though it’s not true all the time but Sales Job is something which teaches you a lot about yourself and the customers and everyone should do sales job once in their life. It’s all about selling yourself – if you can present yourself well in front of the customers and build good relations, you can easily sell the product.
Though the most important part of Sales is to create value for the prospects in able to turn them into customers.
An entrepreneur who lacks basic selling skills will find hard to be successful.

entrepreneur

1) You need to Sell Yourself to Sell the Product: Selling yourself here means building good relations and trust with the customers with your attributes of honesty and professionalism and listening to their wants and needs and then providing the best solution for their specific problem.

The first time when you enter a prospects’ office, they do not know which product you’re selling. The first thing they will notice is you and how you’re introducing yourself and the company.
Businesses are also made successful by people. Take an example of Steve Jobs or Bill Gates. It is mainly because of them Apple and Microsoft became so successful.

2) Not Everyone is Potential Customer: Before going on a cold call, salespeople always map the area to find out the best potential customers with the enough buying resources. In the business too, find out your best target market and potential customers. This will help to save your time, resources and you can focus on few very important potential customers. Always Remember, ten loyal customers are better than 30 customers who will not repeat purchase with your company.

3) Being Manipulative Works But Not in the longer run: There are two types of salespeople -Manipulative and Genuine. If the product is new in the market, then being manipulative might work for you. You might do good number of initial sales. But to be successful and drive regular sales in the longer run and in such a cut-throat competition these days, you need to be pretty honest with your customers and should try to solve their problems. Now honest here doesn’t mean that you should tell all the weak points of your product. Being Honest means to promise only those things which you can deliver.

4) Handling Pressure: The best part of Sales Job is that it teaches you how to handle pressure. Every day you have to report to your immediate manager. Every week you have to send Weekly reports to your senior manager. Every month you have review meets. And Every second you are afraid of losing your job if you’re not completing your targets. But if you’re able to handle this pressure, you can always handle different uncertainties that you will face in your business.

5) Service is Everything: It doesn’t matter for the customer how great your product is if you’re not providing good service. The customer in no time will shift to an average product with better services over your product.

6) If nine prospects say No,Don’t loose hope.. 10th one Still Could Say yes: This is the best thing I’ve learned in my Sales Job. Just never lose hope. In the business too, you only need to make one thing right to make it successful as long as you don’t do many things wrong.

7) Get Out Of Your Comfort Zone: In Sales job, your income is directly associated with your effort and skills. You need to come out of your comfort zone, overcome any shyness and hesitation and have to bring results.
Similarly, these traits will help you to get success in the business too.

 

 

26 Jul

Entrepreneurs can register companies online within 24 hours – Minister of Corporate Affairs

 

minister of corporate affairs

In order to bring ease to the corporate world to carry business within the country, the Ministry of Corporate Affairs has been simplifying the procedures under the Companies Act, 1956. Accordingly, to enable entrepreneurs to help get their companies incorporated online within 24 hours, the incorporation procedures are being modified.

Ministry has already implemented online approval of Director’s Identification Number (DIN) with effect from 12.06.2011 and names of the proposed company will also be made available online with effect from 24.07.2011. The digital certificate of incorporation is already being issued online by the Registrar of Companies.

The online procedure to register companies likely to be implemented with effect from 11th August, 2011.

The Minister of Corporate Affairs also said that if any of the information given by the company found to be wrong, false or illegal then the subscribers, declarant(s) and professional(s) shall be liable for penal action under section 628 and 629 of the Companies Act, 1956 in addition to penal action prescribed in regulations of the respective professional institutes.