Category Archives: Business

Amateur entrepreneurs

Entrepreneurship has a great change of meaning in the 21st century with a number of innovative companies in different parts of the world. Technopark in Trivandrum provides a great opportunity for young talented people to make their career into entrepreneurship. Students after having their graduation are stepping in, to develop a small company with 5 or 7 people. Previously the entrepreneurs have one and only aim, to run the company without any capital loss. They were happy if they could get enough money to give the employee salaries. They were not eagerly waiting for a giant organization to come and give funding. This did not mean that they hadn’t done anything to improve the company. But the pace and eagerness of growth was very slow compared to the companies developing in the modern era. If we could get a chance to analyze these kinds of companies, it is evident that many of them have closed down within 3 to 6 months due to the lack of income generation. Is it due to the lack of knowledge in the field of entrepreneurship?? / Due to the lack of innovative ideas and income?? Or is it because of the increased competition??

It is really a vast area to think and analyze.

In my opinion, Talent and dedication are the key things behind the success of each and every entrepreneur. Where there is talent coupled with immense dedication, there we can see the light of success. Are they two separate things?? No…dedication is an evolved touchstone from the talent. Earlier day’s talent has been valued on the basis of strength in the number of people and has been defined as the brainstormed ideas from a group. So if the number of people increases, they consider more talent came to the group. But time goes this concept has changed and talent became the creativity of individuals. And now it is considered as the coupled effect of creativity and dedication. So in one or other means dedication has germinated from talent.

I have come across a company in Technopark named Orysis India Consultancy. It is run by a young entrepreneur who is only in his early 20s. They do have more than 12 employees in the office. The main thing I noticed in the success of this company is the dedication of the CEO, the above mentioned guy and his determination. They’re in the path of development with strong based project and new technology usages.

Successful entrepreneurship will depend on talent and dedication. Set a goal, hard work to achieve that and be successful. Aim for a mountain, shoot at the hill and then you will get a plateau.

 

Made In Japan

“Made In Japan”. A normal person from a developing country when he hears this, he will be more inclined to purchase the product than go for other country manufacturing products. This is especially in case of electrical and electronics equipments.  They have created a world rank in this case because of the quality of their products. If a person wants to buy a foreign technical thing he first thinks about Japan products. Usually people believe that the Japan products are famous for their quality. It is just not a belief but the truth.

Do you know why it is famous for their quality and reliability??

It’s only because of the many time testing before the launching of all the products. They are very particular in the testing. Most of the things go through one time testing only. But the testing method of Japan is entirely different.  They have testing in each and every development stage of the products.  At the end product there won’t be any damages so that they will get an accurate and reliable product. This provide more accurate product than a product which have gone through a onetime testing. Many things are not able to find out in the onetime testing. In many time testing the bugs which they come across would be able to figure out easy and this would help the further development with more accuracy.

Japanese believes in every time improvement of all the products. This is known as KAIZEN. The continuous improvement enables the high quality products. This makes the credibility of Japan products and gives a worldwide market of high span.

SMALL but APT Definitions

What is the difference between Advertisement, Marketing, Public Relation and Branding?

If we ask this question to an MBA graduate or someone pursuing some business administration courses we will fed up with the answers. They will shower full theory from the books Kotler and Bratton. But if we ask to explain the same in simple words, 99% of them will fail. But here comes the simple explanation of the same in simple words. This simple definitions  come from one of my great friends.

I am Merlin; I am a good gal —-Marketing

Merlin is a good girl… Merlin is a good girl…. Merlin is a good girl… Merlin is a good girl….… Merlin is a good girl——-Advertisement

You know Merlin is a good girl——-Public Relation (to a third person)

Yes; I know Merlin is a good girl——–Branding(to a third person)

Success of "Chinese Products"

We all know that the Chinese products are available in the market. Some items are pretty good but some of them are not. We can test the luck while purchasing the Chinese materials from the different outlets all over the world. We will get a variety of selection from a large pool of same items. The main products of the new era will be able to find in the group of Chinese products.

Mainly the Chinese products are very cheap with more features. While concerning the quality they happened to push back when compare the items with less features. The most famous iPhone of this technical world also have its exact copy from the china with all the features of the apple iPhone. The entire Chinese product will be the exact copy of the original one.

Do you ever think about the success of Chinese products even though they are very cheap and low quality???

Yes!!! It is because of the bulk order and the bulk delivery. They will provide each item once it is a bulk order. Otherwise they won’t let the items to cross their border. We can’t get a single piece of the item from any of the Chinese wholesalers. If it is not a bulk order there won’t be any profit in the sale. Once the item is dispatched it is dispatched and the return within one month program will not be there. They will not give any guarantee or warranty to the items. So when the items get damaged the customer will be the victim and the manufacturer of China need not worry about that. He will get the amount what he wants.

IndianSpices4u.com – A dream business project

Today is a golden day in my life. The hard work of last 4 months come true and now we are on the fire of excitement.

We a group of 4 MBA students from London School Of  Management and Science launched a site to rectify the main problem of  Indians to collect Indian food items from distant places.

Normally in foreign countries Indians depend on distant shops for  Indian groceries which has Indian taste.They need to travel a lot for collecting the items as the shops are not frequent in all the areas.

In UK Indian food items are concentrated mainly  in East Ham, Croydon and Wembley. So people from the outer area  of London need to travel a lot to collect the Indian items from these places.  Its actually a big time constraint job and the travel expense is also very high.

Our site www.indianspices4u.com is a site for all the Indian food items which will be available in a single store .Here we have enclosed all Indian food items from the famous Brands like Double Horse, Melam, Pavizham, Periyar, Grandmas, Nirapara, Kerala Taste, and Eastern. We have introduced some new brands which are not available in UK at all which are ANNS, Brahmins, and PrimeRose. We have enclosed the main items of curry powders, rice, rice powders, masalas, dried items , ready to eat items, pickle and instant items.

We are JoePaul, John, Justin and Myself are colleges in MBA . We got this chance to work in this live business project through our director Mr.Augustin Chandy. The site was developed by an experienced Web Developer Mr.Albert Quintema who is a specialist in SEO works. It was really an unexplainable moments to work in this project. We had to meet the main food dealers give the orders, manage the importing of the food, and frankly speaking  the from the scratch operations have been done by us only.

We will be giving free delivery for all the orders more than 20 pounds of purchase. The delivery time will be messaged to the customers followed by a select service  ( IVR- Interactive Voice Response, an advanced technique which most of the shopping cart site  do not having this facility)that they will be  free to choose the delivery date once they are not available in the scheduled date.

The site contains a shopping cart facility through which the online business can be done. It is  very much user friendly and the customers will be free to use the site without any problems.They can pay the money through a bank pay or a credit card pay. Also there is an option to save the shopping cart once they are not willing to shop the items now but if they want it in some other time. There is another option to send e-mails to the site management team regarding any queries or for any clarification of the processes.

So all of you just go through www.indianspices4u.com the site, and promote us for the further development in a broad manner!!!

Dangers in Business

Top five things people are most afraid of business


  1. VAT returns

    VAT is not a difficult thing to afraid. The only thing which need a special care is to keep proper record. You should have a clear idea about the VAT you have charged on your goods & services and the amount you have been charged on the goods and services you have bought in.  Its only the simple calculations and the common sense. You will have to register for VAT only if your turnover is more than 67000 pounds. But don’t say it as an excuse not to develop your business. :-)

  2. Spreadsheet

    Its very important to learn the spread sheet ideas inorder to comply  with the current developments since its a valuable skill.. So learn the spreadsheet with the help of a tutor or website for that. We will get lots of books which explain the theory of the spread sheet. www.spreadsheet123.com is a very useful site for the study of spreadsheets

  3. Pay roll

    We are responsible for the employee salary, tax and national insurance payments. Once we keep a clear cut system for everything payroll is a simple and loving thing.The thing indeed is the systematic control.

  4. Incorporation

    Incorporating business to a limited company involves a bit more paper work and good knowledge skill.But its not a big deal since we get a help line at Companies House that can talk to you in each and every step.

  5. Failure

    Fear of failure  may be the reason for most of the people not starting a business.People don’t want to make their family into a risk by starting a business.this is because of the rumors regarding the failure of 50% start up business in the middle of the second year.But this count is based on the closure of business bank accounts and not the closure of business.Anyway be affirmative and no matter what happens to your business , you will success in acquiring your skills and knowledge and that will increase your earning power.If you don’t give it to go you wont fail but once you don’t accept the possibility of failure , you will never get success.

Reasons for the failure of "NEW" Business

Sometimes we can hear people say “Nowadays my business is very dull..Not enough profit.So I am going to quite the business”

Why some business getting a sudden death ?? It is a very important point to think.According to my knowledge the following things may affect the start up businesses

business_failure-300x212

  • Lack of enough research.
  • Lack of honesty with themselves..
  • The founders move too quickly
  • Lack of sudden actions when they are very critical
  • Imbalance of supply and demand levels
  • Lack of knowledge about cash flow
  • Spending of too much money
  • The giving up of the situation
  • Lack of sensitivity analysis(SWOT analysis and PESTLE analysis)
  • Lack of enough hard work.

Businesses which can start with less than 1000 pounds.

girl-thinking-cap

We used to say many reasons for not starting a business.

The main reason is” I don’t have money”

But think…….

We can start a business even with less than 1000 pounds right.

Here I am sharing a small bunch of businesses which need only a small amount to start

  • House cleaning
  • Driving a taxi (first take a van as rent then you can buy own van)
  • Setting up a good consultancy in your current existing profession
  • A marketing stall
  • Trading on E-Bay
  • Sandwich/Pizza selling
  • Decorating
  • Party Player
  • Painting
  • Therapy practitioner

Once you come up with any such businesses please do share.It will be an interesting information to people who  thinks that business needs a “six or seven figure” amount to start!!!

BECAUSE’S for not making a MILLION

1.    Oh my god I don’t have enough time

Normally we can hear this sentence from almost all people. ’I don’t have time.’. Once we will be able to schedule ourselves we have enough time to start or do effective things. People used to spend lots of time in front of TV. That is also ‘TIME’. If you are not able to find any time in your day to day life , keep a small diary at least for one week scribbling note on every work in hourly base. I am sure you can find out time to do fruitful things. Just think either the happiness just at a wink by the TV or the life long happiness through making MILLION  is important.

2.    No money in my hand

Most of the people say money is a big problem to start a business. But once we take the history of most of the entrepreneurs they have invested a small amount for their first venture. We have lots of business which need a small capital amount i.e. less than 1000 pound. The only thing we need is the thrust and the desire. If we have the urge to achieve something through a beneficial mode, start up cost can be reduced through hard work and commonsense.

3.    Its difficult to afford the drop in the salary

We are afraid of the salary and the job security every time. So people are not willing to leave the job and start a business. But if we have the confidence to win then why are you afraid of dizzy things like salary and savings. It all hinges upon the optimistic character and the confidence. We should be able to face the situations ahead with a cocksure mind and affirmative thoughts.

4.    I wanna build a good career rather than throwing away the same

People want to make a good career and they think that working in a multinational company is the way of making good career. They don’t want to risk themselves by taking a challenge. Its because of the lack of confidence. I do say that business is also a career and it may become a sparkling career than the job in an MNC. Take diversion to start business will give your career a sizable boost.

5.    No support from my partner.

Its very important to have support of the closest people to start a business. The partner regardless boy or girl, they will be doubtful about the future .Your duty is to convince them and figure out their doubts. You will be responsible to shed light on all the queries. Eventhough they are not ready to believe you have to be determined to make understand them that they are wrong. After all trials to make them understand if they are not ready to accept it “Dump Her/ Him”.

6.    No experience background

Most entrepreneurs  achieved a good business set up through small businesses and some of them were flop. If we want to establish we need to start it first. We are not fully experienced in things when we born. So saying don’t have  an experience is not an excuse for anything. You may have theoretical knowledge. But when you enter into the reality only you will get experience. So take the first step today itself.

7.    Not enough qualification

We cant start a business after getting the complete knowledge of it. We can acquire it through experience. If we have the common sense we can run a business. Even a small guy can start a business once he has common sense. The rules and regulations will be getting from the concerned government. There is no special qualification for starting a business. So I don’t think that qualification will be a barrier to start a business.