Business
[ January 20, 2024 by admin 0 Comments ]

25 Signs You Might Be an entrepreneur! check it out now

“25 Signs You Might Be an entrepreneur!” In the dynamic world of business, certain qualities set entrepreneurs apart. Whether you’re a seasoned business owner or aspiring to embark on an entrepreneurial journey, these 25 signs serve as markers of the entrepreneurial spirit. From innovative thinking to financial savvy, each trait contributes to the multifaceted landscape of entrepreneurship. Explore these indicators to see if you resonate with the mindset and skills commonly associated with an entrepreneur.

Innovative Thinking: You consistently generate fresh ideas and approaches to solve problems, fostering a mindset of creativity and originality.

Risk Tolerance: Comfortable with uncertainty, you make informed decisions in the face of potential challenges, recognizing that calculated risks can lead to success.

Passion: Your intense enthusiasm for your projects and ventures drives your commitment, resilience, and willingness to overcome obstacles.

Independence: Preferring autonomy, you thrive when making decisions and managing tasks on your own, embracing the freedom to steer your projects.

Resilience: Rapidly recovering from setbacks, you view failures as opportunities to learn, adapt, and grow stronger in pursuit of your goals.

Vision: You possess a clear and inspiring long-term vision, guiding your actions and choices with a sense of purpose and direction.

Adaptability: Comfortable with change, you adjust strategies and tactics swiftly, recognizing the importance of staying flexible in dynamic environments.

Initiative: Proactively taking the lead, you initiate and drive projects forward, demonstrating a proactive and hands-on approach to opportunities.

Problem-Solving Skills: You enjoy tackling challenges, demonstrating a keen ability to analyze problems and find effective and creative solutions.

Networking: Actively building and maintaining relationships, you understand the value of a strong network in fostering opportunities and support.

Leadership: Inspiring others with your vision, you naturally take charge, guide teams, and cultivate a collaborative environment.

Flexibility: Embracing change, you adjust strategies and plans quickly, recognizing the need to pivot when circumstances evolve.

Creativity: Your thinking extends beyond conventional boundaries, allowing you to approach issues and opportunities with innovative solutions.

Work Ethic: Committed to success, you demonstrate a strong work ethic, putting in the effort and time required to achieve your goals.

Customer Focus: Prioritizing customer needs, you understand their perspectives and tailor your products or services to meet and exceed expectations.

Financial Savvy: Possessing a solid understanding of financial matters, you make informed decisions to ensure the financial health of your projects.

Decision-Making: Decisive and confident, you make tough decisions efficiently, balancing risks and benefits to move forward.

Goal-Oriented: Setting clear and measurable objectives, you work diligently to achieve milestones and continually strive for success.

Learning Orientation: Embracing a continuous learning mindset, you stay informed about industry trends, technology, and market changes.

Self-Motivation: Intrinsic motivation drives your productivity, allowing you to accomplish tasks and goals without external pressure.

Salesmanship: Effectively communicating the value of your ideas or products, you can persuasively convey your vision to others.

Resourcefulness: Navigating challenges with ingenuity, you find creative and efficient solutions even with limited resources.

Tenacity: Persisting through difficulties, you maintain determination and resolve in the face of obstacles.

Customer Feedback: Actively seeking and valuing customer input, you use feedback to refine and improve your products or services.

Time Management: Efficiently organizing and prioritizing tasks, you maximize productivity by managing your time effectively.

NewsPersonal
[ March 1, 2023 by admin 0 Comments ]

Which Registration does your Startup needs? Let’s Explore

Are you planning for your Startup, here are the key registration requirement for your Startup:


1. Business Registration


It’s always a wise decision to incorporate your Startup, Incorporation means, the legal birth of your Startup according to the due procedure prescribed by the Law.
You may get your Startup Incorporated as OPC, Private Limited Company or LLP as per your need and business model.

You may also opt for Proprietorship or Partnership, but these can not be Incorporated, but these can be registered under MSME, GST , Labour Laws or Shop and Establishment Act. These structure are easy to operate but the liability of owner is unlimited as these mode do not differentiate among Owner and Business.

I always advice to my Clients, to get their business incorporated rather operating it into an unincorporated mode. As benefits are higher than unincorporated modes.

2. Income Tax Registration


Mandatory requirement, can’t be missed or ignored. Return of Income or loss can be filed with the income tax by a taxpayer only after getting it registered on Income Tax site.

A lot of services can only be accessed after registration, these services can be intimation, Refund request, filing of income tax return, TDS report, speedy processing of returns etc.



3. Registration under Shop and Establishment Act


Every business required to be registered under Shop and Establishment Act. State law may differ care shroud be taken as per the particular law of respective state. It can also help you opening a current account.


4. Registration under Start Up scheme of Government

4. Registration under Start Up scheme of Government

Startup India Scheme was launched in 2016 for promoting entrepreneurship and Startup with an underlying objective to generate employment. It offers a lot of benefits to a Startup.

a. Self Certified Compliance

b. IPR filing Simplified

c. Promote research

d. Taxation benefits

f. Funding options

5. GST registration

If your business turnover exceeds Rs. 20 lakh is required to get its business entity registered under GST.


6. MSME registration

If your business qualifies the criterion of MSME, by getting it registered under MSME act may bring a lot of benefits to the entity.


NewsPersonal
[ March 1, 2023 by admin 0 Comments ]

Are you a Businessman or a serial Entrepreneur ?

The fever of Entrepreneurship is not contagious, it’s a dream, vision, desire, zeal and enthusiasm which no other can understand.

Most of the Startups fail! most of the Entrepreneur surrender st some stage of their Startup, at the same time many of them build profitable business and sell, again they build some other profitable venture
and again sell and so on..

If you are one of them then you are a ”Serial Entrepreneur”

You have mastered the Art of building business, turn those into a profitable venture and hand it over to someone else for consideration.

While on the other hand if you can build a profitable venture where you can work for rest of your life, taking care of each and everything. Infra, business, resources, manpower, efficient operation, CSR then you are a “Businessman” .

Here are some differences between a Serial Entrepreneur and a Businessman :


Idea Generator


A Serial Entrepreneur is a warehouse of Ideas, he observes the business environment keenly, analyse the opportunities and threats, assess the risk and profitability, prepare models and Launch that.


A businessman has Ideas but relevant and related to his core knowledge field, he seldom work on any Idea which is not related to his business. He has a focused approach and sticks with the Idea he initiated, he may be flexible but the core of the Idea doesn’t change.

Initiator

A serial Entrepreneur takes Initiative, he arranges each and everything and gets the thing started.

A businessman also takes initiative but he may get thing done initially and on his own as well. His intention to have a hold on the business he is starting, and turn it into an organization.


Key Parson


A serial entrepreneur plays the most Important role in the business he establishes till the responsibility is handed over to someone else. And then he moves on with new ideas and projects.Any businessman plays the most important and vital role in the organization, for the establishment which he is working and dedicated his time. He is concerned with the exploiting the commercial benefits from the goodwill earned over a period of time.

NewsPersonalUncategorized
[ March 1, 2023 by admin 0 Comments ]

3 Innovative ways to enhance your entrepreneurial vision

When progress is stopped, one thing is very certain the time has come to improve, enhance, and look for new ways to kick the progress to move again.

As an entrepreneur, you have to improve, explore and evolve, here are five ways to enhance your entrepreneurial vision.


1. Give yourself a break


“Entrepreneurs can’t have asleep”, comfort is not for them, sitting is for others and so on…, being en entrepreneur you have to work and keep working ‘every waking hour.

Before the launch of a start-up, it may be true but in my opinion sleep, comfort and sitting when you have a chance to is equally important as working every ‘waking hour’.

The break I am talking about is not going away from mundane affairs but to give yourself proper rest and enough sleep, as these are the best-known source of energy and fire you want to put in your efforts and that’s why this is badly needed.

When you ‘burn out, you can’t focus, you can’t think properly and your efficiency and effectiveness are compromised. Your startup has to bear the consequences

So have enough sleep, have enough comfort, and keep it remember ‘when you get a chance to sit, don’t remain standing when you get a chance to sleep, don’t remain awake’.


2. You’re you, and it’s your power


What got you here may not be capable enough to get you there; you are unique so your powers and strengths are. You are you and that is your power,

When you feel stuck, start looking at your achievements and accomplishments, look at your strategy journal, find out what’s not working.

Find some time to keep mum and then talk to yourself, realize your potential, take a pause, go in silence, observe the environment in which you are operating and I am sure you will find the way to move forward.



3. Take ‘Big enough’ risks


Entrepreneurship = Risk taking ability

Look upon your ways, are they still challenging enough? The strategy you adopted at the beginning, is still working? Look at your goals, are they really big enough?

Make your goal big enough, redefine those if there is a need, but keep working smarter than your goals.

Set goals, build an enabling environment, put you all fire in, work smart and achieve them one by one.

These three ways are there to help you in reinventing your entrepreneurial vision.