Tag: Entrepreneurship

For New Entrepreneurs

4 Rules For Startrepreneurs – Practical Tips For Starting Right


Word Count:
424

Summary:
Itís a great time to be startpreneurs in the last decade, technology has leveled the playing field and propelled an entrepreneurial revolution. As an startpreneur, you now have more access to information that enables you to make more intelligent choices more quickly. You have an advantage over big businesses in that youíre lighter, more flexible, and faster on your feet. You can target new markets more quickly, and you can turn on a dime.
Keywords:
Product,sourcing,ebay,ecommerce,dropship,ebiz,entrepreneur,blog
Article Body:
It ís a great time to be an entrepreneur in the last decade, technology has leveled the playing field and propelled an entrepreneurial revolution. As an entrepreneur, you now have more access to information that enables you to make more intelligent choices more quickly. You have an advantage over big businesses in that youíre lighter, more flexible, and faster on your feet. You can target new markets more quickly, and you can turn on a dime.

But being a successful entrepreneur requires that you look at the big picture and follow a plan through from beginning to end. Rieva Lesonsky, editor-in-chief of Entrepreneur Magazine gives some practical guidelines that can help you when beginning your own enterprise:

1.Don’t Quit Your Day Job.
Consider starting your business part-time, especially if it’s online, while youíre working and have a steady income. It usually takes six months to a year to get a business going and you donít want your ability to make your house payment to hinge upon your company being an overnight success. Start with what you can manage, financially and time-wise, and scale up as your business grows.

2.Find Your Niche.
The days of general stores are over. Particularly online, consumers are looking for stores that specialize. You have to find a needósomething a specific group of people want, but canít get at the big chain storesóand fill it. Advises Lesonsky, ìYou canít compete with the big guys, so you have to find where the big guys arenít and go into your niches.î

3.Have an Online Presence.
Even if youíre not planning to start an online retail business, consider that the internet can still play a valuable role in your company. Having an online presence eliminates the limitations of physical location and broadens your customer base by, literally, millions. Itís also a great tool for promoting yourself and letting people, even in your own area, know that youíre there, and what youíre doing.

4.Refuse to Quit.
Successful entrepreneurship requires creativity, energy, and a drive to keep going when you fail. Few people realize that before Bill Gates created the extremely successful Microsoft 3.0, he created a Microsoft 1.0 and 2.0, both of which floppedóbut he kept at it. And that determination and refusal to give up is what will separate successful entrepreneurs from unsuccessful ones. Arm yourself with optimism to get beyond the #No1 or the trouble. There’s nothing wrong in failure just don’t repeat the same mistake!

Monday Mentor: Startpreneurs : Title:  ìWhy Business Credit Is A MUST For Every Business Owner!î


 

Word Count:

531

Summary:

Entrepreneurs typically make one or more financially devastating mistakes when financing the launch, operation and/or growth of their businesses. In most cases, they donít realize that theyíre making a mistake.

Keywords:

business credit, corporate credit, unsecured business line of credit, business line of credit, start up capital

Article Body:

As an entrepreneur, youíre hardwired to enjoy a greater level of risk than the average person. But do you enjoy the thrill of business and investing so much that youíre willing to risk:

-Being hounded by creditors?

-Declaring bankruptcy?

-Being denied a mortgage?

-Paying more than your fair share of interest on your loans?

-Losing your house?

If you answered ìnoî to one or more of these questions, this may be the most important report youíve read in a long time.

Because, if youíre like most entrepreneurs, investors, and business owners I have met over the past 44 years, youíre in danger of facing all of these horrific problems.

And it ís all because of your business.

You see, entrepreneurs typically make one or more financially devastating mistakes when financing the launch, operation and/or growth of their businesses. In most cases, they donít realize that theyíre making a mistake.

And to tell the truth, even when they do realize theyíre making a mistake Ö they lull themselves into thinking that the consequences will be a minor annoyance.

Until, one day, they canít qualify for a mortgage. Or they canít get the to-die-for financing offered on the new car theyíre buying. Or theyíre hounded by creditors and eventually have to declare bankruptcy.

And it is all because they use their personal finances to fund the launch or expansion of their business. They then use personal credit cards to pay for business expenses. If you are in business or thinking about starting a business, business credit is a must.

Let me explain, most business owner have no idea that they can establish business credit and even fewer know how to how to establish business credit. If owners would take the time necessary to educate themselves about establishing credit they would no longer have to use their personal funds for start up capital or working capital.

They would also be able to use business credit cards which donít report to their personal credit reports, therefore, not lowering the personal credit scores.

The most important goal of business credit though is to obtain unsecured business lines of credit, which can be done once the business credit profile is set up properly. Once a business obtains unsecured business lines of credit, they then have the working capital they need to start a business or expand their business. The business owner has check book control to use the business lines of credit as they wish. And best of all, the business lines of credit donít report to the business ownerís personal credit report.

If you have set up your business profile correctly there are a number of banks that will lend to brand new start up business. That is right, brand new start up business with no track record whatsoever. The banks will extend unsecured business lines of credit so they can have the start up capital they need to finance the business of their dreams.

Make no mistake about it; business credit is a MUST for every business owner. Donít put your personal assets at risk finance or fund your business!

Creativity: Random Inputs generated this morning for today


Quick and Dirty

Meaning:

Things that are fixed with great speed, but as a result, it’s probably not going to work very well.  The quick trip this year did not expect any result even after a month and I was little depressed.  But the Brainwave and Udemy courses I am doing are really balancing.

There’s No I in Team

Meaning:

To not work alone, but rather, together with others in order to achieve a certain goal.  The recent attempts to work as a team member without putting skin in the game has not worked.  Partner trouble of the past always comes back however much I try to let it go.

Burst Your Bubble

Meaning:

To ruin someone’s happy moment.  No I did not and will not do that.

Break The Ice

Meaning:

Breaking down a social stiffness. Hmmm… I think I shall shrink all other social activities and whatever is going on and just focus on 2 or 3 major big ticket items only.  I need finishiative myself.

Right Off the Bat

Meaning:

Immediately, done in a hurry; without delay. But it did not yield any results. May be the introduction was not done well or my offerings were wrong or may be I was not seen as the choice or I failed to sell my services well.

I Smell a Rat

Meaning:

A feeling that something is not quite right, or awry.  That sinking feeling ! Ahh !  but I am learning lessons on Self hypnosis and they are good. They work.

It’s Not Brain Surgery

Meaning:

A task that’s easy to accomplish, a thing lacking complexity.  No. I do not have any simple task in my task list. I must just junk it and fill it up with small simple tasks and steps I can do and applaud myself , pat my own back.

 

Startpreneur news from my fav Newsletter


Inc42 Logo
News Roundup: 11 Indian Startup News Stories That You Don’t Want To Miss This Week
One of the biggest Indian startup news stories of the week was that an Amazon delivery boy and employee were arrested for cheating. Also, US-based footwear brand Skechers has been offered an out-of-court settlement by the walmart-backed company Flipkart. Let’s have a look at these and other important startup news stories of the week.
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This week 19 startups raised around $152.46 Mn funding altogether. One of the biggest Indian startup funding this week was raised by Bengaluru-based insurtech startup Digit Insurance raised $44 Mn. In another development, there are speculations around online retailer eBay to join forces with ecommerce company ShopClues to relaunch its platform in India.
Once fallen to below $5K, slowly and steadily, Bitcoin is getting its charm back. Riding high on Bitcoin which is currently trading at $8.2K, the cryptocurrency market cap too, is ready to hit $300 Bn. Meanwhile, the Law Commission of India in its report submitted to the Minister of Law and Justice has recommended cryptocurrency as one of the cashless means for gambling transactions. Let’s take a look at this week’s development in cryptocurrency!
This week Mobikwik’s Chief Risk Officer, Puneet Agarwal has resigned from the company. Also, another shaker of the week was Sagar Das, the co-founder of Autoportal, who announced that he has quit the company. Let’s have a look at some of the other movers and shakers in the Indian startup ecosystem.
Uttar Pradesh govt to build blockchain infra for data security, TRAI taps blockchain to curb unsolicited calls, Walmart pilots blockchain project to procure farm produce in UP, Google partners with digital asset, BlockApps to push blockchain development & much more…
To discuss the growing trend of freelancing among Indian women, Inc42 and PayPal hosted a webinar — Nailing The Balancing Act: Women Freelancers in India — as part of the ongoing webinar series — The Rising Freelance Economy. Incase you missed it, get all the insights here…
During the media interaction, when asked about an inspiring global business personality, Sharma said, “I’ve interacted with Jack Ma (Alibaba) and Masayoshi Son (SoftBank). I also saw Steve Jobs (Apple) at a close distance. I wish I had interacted with him. But for this (occasion), I will pick Masayoshi Son (Softbank). Masa is not a man of a few billion dollars, but hundreds of billions.”

I liked this parable : Mathew 13


The Parable of the Sower (sometimes called the Parable of the Soils) is a parable of Jesusfound in the three Synoptic Gospels in Matthew 13:1-23, Mark 4:1-20, and Luke 8:4-15.

In the story, a sower sows seed and does so indiscriminately. Some seed falls on the path (wayside) with no soil, some on rocky ground with little soil, and some on soil which contained thorns. In these cases the seed is taken away or fails to produce a crop, but when it falls on good soil it grows, yielding thirty, sixty, or a hundredfold.

Jesus then (only in the presence of his disciples) explains that the seed represents the Gospel (the sower being anyone who proclaims it), and the various soils represent people’s responses to it (the first three representing rejection while the last represents acceptance.

I’m a gardener Mentor. I try and die the seeds to make Dreams grow into ambitions, translating into Vision, mission, goals, objectives, action plans, biz, marketing plans etal.

In my efforts, sometimes I come across very distressed mentees. I have to work on making the soil good as they have rocky soil of past bad experiences, thorny soil which does not allow seeds to germinate, or find soil. I spend 5, 13, 26, 52 weeks depending upon the STATE, and SITUATION.

I Sometimes come across Sand, silt or clay land or simply rocky land. Rarely I find delta land ( usualy in C Suite execs) which is fertile . Each gets a different mentor treatment.

It works. There are failures too. As the mentorees stop responding and throw seeds on footpath – it is eaten by birds and pigeons.

In one case, after sowing 150 revenue ideas and rigorously, tilling the land I found failure. I decided to move on. As the farmer/ mentoree just did not understand and allowed my gardening efforts fail.

Sad but true! It happens.

Gardener then moves on too…

Best Stories for Startpreneurs, SMEs.


Monday Wrap | 23rd July 2018

Meet the 13-year-old who harnessed Mumbai’s dabbawala network for his courier service

Starting up young just got a new benchmark. Meet the 13-year-old who harnessed Mumbai’s dabbawala network for his courier service. Tilak Mehta, a Class 8 student at Garodia International School in Mumbai, started Papers N Parcels to help Mumbaikars courier their things around the city for same-day delivery at the cheapest rates. The business is self-funded, with his family putting in the initial funding; Tilak intends to pay it back once the company is profitable.

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Why Singapore-based Alluma is betting big on global crypto trade

Virtual currency may be on the RBI radar, but we tell you why Singapore-based Alluma is betting big on global crypto trade. Founded by Akash Agarwal in 2017, the crypto exchange brings together robust compliance processes, an advanced yet easy-to-use platform and UI, and a tight security framework. The startup still does peer-to-peer transfers and maintains accounts with banks globally as it is registered in Singapore.

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Udaipur-based Medhola brings medical services to your doorstep

What if the doctor could come home when you were unwell? Udaipur-based Medhola brings medical services to your doorstep and has tied up with service providers across the city of Udaipur for non-critical and non-emergency issues like fever, cold, small injuries, etc. Founded by Gaurav Dhakar in 2016, the healthtech startup is particularly useful for the elderly or dependent segment of the population.

Read more

Jaipur-based MeraPatient aims to bring more offline pharma stores online

When Manish Mehta, a CA, and Alok Khandelwal a journalist, decided to start up, they thought of building a product that served society. They realised that despite the profusion of digital healthcare platforms, there wasn’t a single point that brought together all stakeholders in the healthcare system. Enter Jaipur-based MeraPatient, which aims to bring more offline pharma stores online.

Read more

Delivery after delivery, CampusKhana is driving away students’ hunger pangs in Indore’s colleges

Foodtech giants like Zomato and Swiggy can come to your rescue if you are hungry in the city. But what if you are on the outskirts of a small city? Meet CampusKhana, which is driving away students’ hunger pangs in Indore’s colleges. Launched in December 2015 by Amit Ranjan and Monica Dua, this foodtech aggregator started its journey by delivering food to IIM Indore. In the last couple of years, it has diversified into fruits and grocery delivery, and reportedly delivered more than 16,000 orders.

Read more

Jaipur-based HR-tech startup WorkNrBy helps you find job opportunities close to home

Founded by Ashish Agarwal, Pinku Agarwal, and Manu Saxena in 2016, Jaipur-based HR-tech startup WorkNrBy helps you find job opportunities close to home. The platform is tapping the hyperlocal employment opportunity and focuses on small and medium businesses spread across a city. It is free for job seekers, and even for employers in the initial stages.

Read more

Kolkata-based Obo believes on-demand concierge service is the need of the day

In a world where time equals money, Saurav Jhawar and Madhuri Chalke believe on-demand concierge service is the need of the day. Their startup Obo, which works as an on-demand personalised delivery service, offers on-demand delivery, reverse deliveries, and even first and last-mile logistics. Obo’s local delivery network and logistics technology helps merchants deliver to their customers in a cost-effective way.

Read more

Paramotor aims to reach POS solution to small town retailers

Sonia Asher and Rahul Anand decided to tap the huge opportunity to help consumers access their kirana store on a digital platform. Their fintech startup, Paramotor, which was launched in 2016, aims to reach POS solutions to small-town retailers. The omni-channel payment processing platform helps merchants accept payments from customers across all sales channels and devices.

Read more

How MountBlue’s coding bootcamps are aiding entry-level tech hiring in startups

The disconnect between engineers’ skills and employability led Konark Singhal to found MountBlue Technologies, a startup that began operations in Bengaluru in June 2017. Now, MountBlue’s coding bootcamps are aiding entry-level tech hiring in startups. The bootcamps re-skill and upskill engineers to make them ready for employment in tech startups and various high-growth ventures. In a year, MountBlue has had nearly 100 engineers graduate in 10 cohorts.

Read more

As many died in the sector, NOW Delivery turned profitable in hyperlocal delivery, and is expanding

Hyperlocal delivery is a sector where more startups have died than thrived. But Noida-based NOW Delivery turned profitable, and is expanding. Launched in Noida in January 2016 by Vivek Pandey and Bharat Khandelwal, NOW Delivery started as a bike taxi platform. Between lunch and dinner time, it would do hyperlocal food deliveries. Now, it also offers no-delay deliveries for medical needs.

Read more

Ban on crypto assets notwithstanding, WazirX believes the future is in cryptocurrencies

Despite the ban on crypto assets, Mumbai-based WazirX believes the future is in cryptocurrencies. Founded by Nischal Shetty, Siddarth Menon, and Sameer, the idea was clear: to create India’s very own and most trusted crypto assets exchange, enabling Indians to build up their digital portfolio by buying, selling or investing in digital assets. The platform allows people to buy cryptocurrencies through peer-to-peer transfers.

Read more

Forget Facebook, YoBlunt is the next big social network that lets ‘you be you’

In the digital age, people put their best faces forward on social networking sites. But what about the struggles and fears that dog us? Ashish Bais, Manish Bais, and Rishita Varma decided to target this problem With YoBlunt, the next big social network that lets “you be you”. Launched in mid-2017 as an anti-Facebook proposition, this Faridabad-based startup offers a platform restricted to anonymous selfie narration videos only by using patent-pending artificial intelligence (AI) technology.

Read more

How The Sales Talent is finding its niche in placing sales, marketing professionals

When Prasad Tataverty saw that there was no digital platform to exclusively address the requirement of sales and marketing professionals, he decided – in March 2018 – to start up with a jobs site. The Sales Talent is finding its niche in placing sales and marketing professionals. The digital platform acts as a one-stop shop for jobs, career, networking, learning, and mentoring.

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How these 6 IIT alumni are working to take India towards better health

Healthtech startups may be booming, but these 6 IIT alumni are working to take India towards better health. Siddharth Bidwan, Nimish Mehta, Kumar Akarsh, Piyush Singh, Harshal Jain, and Srikanth Manne launched MedLabz, a platform that offers convenient and easy access to diagnostic services; based on test results, it directs patients to specific doctors and specialists. Its predictive AI engine also helps customers adopt healthier lifestyles based on conditions, past ailments, and treatments.

Read more

I like this as Startpreneur Resource.


INDIA EDITION

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