Friday 29 July 2016

Entrepreneurship is The Main Focus of Most of The Young Blood of These Days....




Entrepreneurship is the main focus of most of the young blood of these days because they find that there are many chances for becoming an entrepreneur. Due to globalization, the advanced internet technologies and outsourcing from many countries educated youths mostly try to become entrepreneur. The reason they want to become entrepreneur is that they don’t want to stick to the work that starts from morning 9 to evening 6 which they feel as routine hectic schedule. They just want to work on their time and wanted to be boss rather than working for someone. They think that why should they choose to spend their energy, skill and what they have to someone for their profit. Their idea is to focus their skill and talents to their profit in order to become successful entrepreneur. They feel like setting their career for themselves than for others who earn profits using much brilliant minds. To support this there is an initiation that reached popularity in short span of time is startup.


The main need for this better imitative is motivation through encouragements. The encouragement will motivate the startup owners to fight any kind of battle they can face in the business and aid them to win the battle in the competitive market. The person who starts startup should be self ignited or have to follow some motivational stuff to get encouraged about their initiative. They should understand the reality and fight back any kind of odds they encounter in the company. It will not work out if they start a startup as they have enough money. It is good to follow the quotes about startups that encourage them to focus on their objective withstand in the market to see the success.
Here we have top quotes that encourage every entrepreneur to achieve what they have planned for.....
 “Have a championship mindset. Put everything you have into it; any less and you will fail. Bounce back from knocks”.

“The product that wins is the one that bridges customers to the future, not the one that requires a giant leap.”

“Make your team feel respected, empowered and genuinely excited about the company’s mission.” 

 “As an entrepreneur, you have to be OK with failure. If you’re not failing, you’re likely not pushing yourself hard enough."

“The strategy is to first know what you don’t know, the tactic is to grind, and the value is to remember: there are plenty of places to innovate.”

“Bad shit is coming. It always is in a startup. The odds of getting from launch to liquidity without some kind of disaster happening are one in a thousand. So don’t get demoralized.”

“I think not focusing on money makes you sane, because in the long run it can probably drive you crazy." 

“We must learn what customers really want, not what they say they want or what we think they should want.” 

“Don't start a company unless it's an obsession and something you love. If you have an exit strategy, it's not an obsession.” 



CA Hemant Gupta
hemant@neusourceindia.com
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Monday 25 July 2016

5 Common Reasons Behind The Failure Of Start-ups




Many people will have the dream to start an own business. Instead of working under someone they would like to be the boss. This is one of among the main reasons why people want to start a business. But it is not an easy task as they think. There are lot of factors that they have to consider and take care of. If something went wrong, then the business owner will have to face serious consequences. There are many individuals who have lost their business without paying proper attention to the important aspects. Moreover when a person is about to start a business, he will have to deal with many problems. The following passages will let you know the common problems and aspects which lead a start-up to failure.
1. Planning
If you are going to start a business, you should plan everything and have a clear idea about what you are going to do. This is the most important thing that everyone has to do and on which they have to be very conscious. Most of the entrepreneur makes mistake in this case. They do not plan things properly and they simply invest the money and start a business. Eventually they failed to sustain in the field and develop their business.

2. Budgeting

Some of the entrepreneurs will have proper ideas and plan but they will not have a financial support. It is being a common problem for many business owners. Though they are very confident and clear in what they are doing, they will not have sufficient money to take the business to the next level. Hence they cannot do anything further and quit the business. Meanwhile some of them will have enough financial support but they will fail in managing it properly. They will spend money for unwanted things and finally they will not have money for the essential things.

3. Marketing
Every business needs utmost marketing in order to reach their products or services among the people. Since people are the main target for the business, the owners should concentrate on the marketing aspects and make them more effective. Then only they can get the people’s attention and bring more customers to their business. Most of the entrepreneur will fail in this case.

4. Competition     
Whenever you are starting a business, you should analyse the present market situation and the competition in the same field. You should plan things accordingly. You have to define effective strategies to get customers for your business even if there are many competitors in the market. Most of the business owners in the initial stage will not have any idea to overcome the competition and sustain in the field.
5. Building a team
Most of the new companies will not have a proper team to take the business to the next level. The entrepreneurs who start the business will hire the people who are close to them. The owners will not consider whether they have the internet and ability to work in this business. They simply choose their friends or family members and eventually they will get into trouble. 

CA Hemant Gupta
hemant@neusourceindia.com
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Saturday 23 July 2016

How Your Start-up Differentiate with Competition


Competition is an integral and natural part of doing business. How thriving you become at competing depends on how you locate your business relative to your competitors.


Differentiating your startup business means defining your firm in relationship to the competition. It means that you know and are capable to discuss your points or points of difference and why you are different, or better, than your competitors. It means continuously making advancements to sustain a leadership position. 


If you want to differentiate your startup, you need to look at your business from your present and your prospective customer’s perspective. Then, perform a competitive analysis, and determine where your business fits in the mix. Identify and discuss specifically how you meet your clients need in a way that no one else can.


General points of differentiation include: customer support, durability, superior service, time delivery, leadership, technology, product availability, performance, quality and cost. Making a differentiation plan is referred to as developing a Unique selling proposition.

The USP is your largest promotional weapon and is the key to differentiating your business from your challenger. What is a USP? It an easy statement that sums up the special advantages, features and worth that you give that no other player can.

A competitive analysis list your most important competitors; branding, prices, offerings, locations, weaknesses/strengths, distribution methods, promotional strategies, product/services and determines whether the business is declining, stabilizing or growing.

A competitive analysis also outsides plans for gaining a competitive benefit, exploiting the challenger weakness, keeping competitors out of your market, and showing their areas of vulnerability. With this detail, you can craft marketing and competitive strategies for your startup, thus perfect tuning your message and your brand.

To identify the distinguishing features that set you apart from the player, begin by analyzing your firm. Then, match your firm workforce, products, processes, and marketing activities with those of your challengers by pinpointing the weakness and power of your firm and those of your players.


Delivering worth and advantages that no one else can deliver in the marketplace is the principal of your USP. Your unique selling proposition becomes the cornerstone of your marketing and sales massage. It is the message that reinforces and builds your brand, attracts fresh customers and sustains your player edge.

So match your startup with an established firm perfectly and get your results very fast without any hard job.

CA Hemant Gupta
hemant@neusourceindia.com
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Wednesday 20 July 2016

5 Unconventional Networking Tips for Startups




With more and more people beginning new businesses, networking is more vital than ever. But this situation has an issue. So what are some vital things about “Networking Rights”, which startups could and should target on?

1. Make a game plan
For entrepreneurs, free time is an extraordinary commodity. In order to make the most of your effort and time, begin by devising a plan. Figure out what links needs to be made to take your business to the next stage. Perhaps an industry-targeted conference will meet your networking needs, or maybe a monthly networking event for little business owners is more your style – whatever you plan, make time to commit to the events by blocking out time on your calendar.


2. You are the product
No matter what service or product you offer, no matter how remarkable it is or even how dull it maybe, forever remember that people first buy people and then what they sell.
The worth of this just can be overstated. In networking globe, the most sold product is people which is you. Almost every day, I view people discussing about their services/products, making every effort to encourage people of what they have is remarkable, putting little effort to target on them.

3. Focus on quality over quantity
You have probably seen the people that run around having 1 to 2 minute talks with everyone just so they can get business cards for their email database – don’t be this person. With networking, standard links far outweigh piles of business cards for people you will never speak to again.

4. First impression matters
Show yourself with confidence as you discuss with others, but remember to yourself (a network event is not the time to tire someone with fifteen minute elevator speech about your firm). Talk should flow naturally, as if you were discussing with an old friend. Bear in mind that perfect networks do just as much listening as they do discussing. You don’t want the person you are talking with to obtain the impression you are just there for your advantage.

5. It’s both – offline and online!
There is a rising trend, where people think “online”, the moment there is discussion of networking. While internet networking compliments the offline networking quite well, it is in no way an alternate for it.


Actually, your networking is incomplete if you are not building offline networks. It is the most vital that you are intentionally and actively meeting people offline as well.


CA Hemant Gupta
hemant@neusourceindia.com
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Tuesday 19 July 2016

7 Tips to Prevent Early Stage Failure in Startups





There are 1000s of entrepreneurs who are working on beginning their own company, or who have just launched their own firm. Let’s discuss about some general mistakes made when starting out, how to reject using them.


1. Know your potential
One of the largest mistakes you can make early is not trusting that your business is going to be a large success. This often leads to insufficient planning, and making decisions that are convenient of your present situation, rather than ones that will pay off in the high run. Don’t short change yourself – plan large.


2. Value experience
When recruiting for your start-up, it is simple to overlook experienced individuals. People generally lead toward finding talent and training them, rather than finding persons with true experience under their belts. But don’t deceive yourself, experience matters.  Bring in seasoned talent is actually vital to the success and momentum of a start-up. It may cost a pretty more, but it is value every penny.

3. Find your niche
A general mistake fresh businesses make is trying to cater to a big range of customer needs. Some of the remarkable suggestion when starting out would be to find your niche, target on it, and execute it. Don’t try and perform everything right away. If you pick one vertical and do it very well, other people will come.

4. Social media

As a boss, or co-founder, being active on social media site will not only support you make a brand for your business, but also place you as though boss on many problem plaguing the globe today. It will help build links as well as share your journey with others.

6. Have a craze besides your startup
It is vital to have a hobby – which you worship besides building your start-up. It forever keeps you engaged and betters your persona. You may not improve in your startup – but hobby such as sports, music, or even fish hunting can make you feel expert and decrease stress.

7. Rejection is not failure
Often businesses take rejection too personally. The buyer may have a different need which you could not recognize rightly. Rejection by investors is not necessarily a failure; it is a chance to build relationship and constructive feedback. With every refusal, you have built a strong connection, to sell something else to the customer in future. There are lessons to learn even when the reply is “no”.


CA Hemant Gupta
hemant@neusourceindia.com
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Monday 18 July 2016

9 Reason for Online Support is Preferable Than Traditional ‘Chartered Accountants’




Internet has created a new economy, which has, by its explosive growth and sheer size, already changed our perception of traditional way of doing business. E-Commerce in general has been steadily and explosively growing since 2004 and shows no sign of waning in the future. Companies like Amazon and Flipkart have successfully created ascendancy in areas where just few years ago traditional companies were kings, hence proving that the era of Internet domination is upon us.


It is foreseeable that this dominance shall not stay confined merely to trading of tangible goods, but shall also have services, including those rendered by professionals like Chartered Accountants, within its spectrum. But why is this shift happening, and more importantly, why should you choose to go digital?


Well, there are 9 good reasons for that.


1. Convenience
When information and services are provided online, you are not required to especially make time to travel all the way to visit the service provider and wait till someone shows up to attend you. Apart from saving time and avoiding crowds, you are also no longer restricted by the traditional 9-6 business hours and week days/ non-holidays. Due to online modes, we now have the opportunity to communicate with service providers, seek and provide information and take services 24x7.

2. Time Saving
Obtaining inputs (data and information required for commencement and completion of work) and delivering output documents physically can make the process time consuming. Where all dealings are effected online, the time involved in completion of process shall be reduced to minimum, therefore giving you quicker results. Moreover, using web-based form technology to collect and exchange information not only speeds up the process, but improves data quality.

3. Physical location becomes irrelevant
You could be in any part of the world and the World Wide Web shall allow us to serve you irrespective of your physical location.

4. Better Customer Support
We all believe that customer satisfaction and retention is one of the key factors of business value chain. Thanks to Internet technology, online service providers deliver customer support more effectively, as their customer support as well as grievance resolution mechanism is entirely based online.

5. Easy and Quick Exchange of Information/ Documents
Since their information databases are maintained digitally, Online support companies need not unnecessarily spend time looking for paper documents. Electronic documents are easier to file and find because they can be indexed using keys like date, document type or other user-defines criteria and also allows us to use features like full-text searching. Therefore, they can readily make information and documents available to you. 

6. Better Pricing
Online provision of services not only cuts costs for clients by eradicating the requirements of physical meetings, but also enables us to render services at lower costs than our contemporaries who are yet to adapt to the digital practices, as streamlining business processes through online systems allows entities to cut costs significantly in many spheres of business. Therefore, lower overheads enable us to provide services at competitive prices.

7. Security

While some may hold it against online business processes, there have been numerous technological advancements in this regard. Various methods of data protection and encryption have now made it possible to exchange information in a manner that is far more secure than exchange of physical documents (which is prone to all types of security breaches itself). The level of security can be decided on the basis of degree of sensitivity of information. Online processes also have far more transparency and can let us identify deviations quickly.


8. Environmental Reasons
Environmentalists have been encouraging us to ‘go paperless’ for a while, and online business processes can help us make it a reality. With global warming and excessive CO2 polluting the environment, the world has begun to see the value in going “green” and reducing our carbon footprint. Going paperless by utilizing electronic document management systems and related technology helps cut down on deforestation and pollution, leaving more trees to do the dirty work of absorbing carbon dioxide, and slowing down global climate change.
9. Expert Opinion
Since Online services process voluminous assignments hence they become able to serve businesses from almost all streams & domains of consulting and have a support of sizable consultant panel from each domain.

CA Hemant Gupta
hemant@neusourceindia.com
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Saturday 16 July 2016

8 Start-up Marketing Strategies that Always Work




Anyone who has ever been able to succeed with their business knows that it all comes down to your marketing strategies and how well you can promote your business. In this article, we are going to be talking about start-up marketing strategies that always work.

1. Target the right audience
This is an extremely important thing that you need to remember at all times. You have to make sure that all of your marketing efforts are targeting the right kind of people. This is going to allow you to focus your efforts on the people who are actually going to be interested in your product or service.
2. Create quality content
This is another extremely important thing for you to consider at all times. You have to be able to create the best possible quality content in your niche. Content marketing has become the most important aspect for proper marketing techniques to be possible. This means that you need to create content that people will find useful and engaging.

3. Use proper social media platforms

We all know that Facebook and Twitter are great for all kinds of business ventures, but you also need to consider using platforms such as Instagram, LinkedIn and Pinterest based on the targeted demographics. This is going to allow you to get even better results when you are trying to engage a large number of potential customers.


4. Use CCMR technology
Being able to learn how to keep track of all of your customers and build a proper sales funnel is going to be essential if you want to get the best kind of results. This is the main reason why working with a good CMR is going to prove to be important for you to get the right kind of results.

5. Create a good retention plan
Once you are able to get a sale, you need to find the best possible way to retain that customer. If you sold a product, keep them engaged by sharing information that will be useful when they use your product. If you sold them a service, remind them of the reasons why they need your service often.


6. Come up with a good budget plan
This is also going to be essential because you need to be able to assign a budget to your marketing efforts in order to see the best kind of results. The important thing is for you to stretch that budget as much as possible and avoid making amateur mistakes in the way you spend it.

7. Build trust with your audience
Being able to build trust is going to be extremely important and this is more of an essential aspect of marketing now that it has ever been in the past. Make sure that you can build as much trust as possible with your audience and you will find that they will promote your business too.

8. Automate everything that can be automated
This means that you need to make the most out of all the SEO tools that are available right now. This is going to help you get twice as much done with the same amount of time and effort, so there is really no valid reason for you to neglect this. Use as many tools as possible as long as this makes your job easier and you have a more productive work day because of it.  

ConclusionA start-up needs to be able to use marketing wisely because this is going to make or break the business. If the marketing is not good, the business is not going to be able to last.

CA Hemant Gupta
hemant@neusourceindia.com
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Friday 15 July 2016

5 Points That Every Startup Entrepreneur Needs to Know









The victory in starting up and sustaining a business lie beyond what is merely stated in the business plan. Aside from the truth that your day to day operations will not go as planned, vital core principles which you probably have already heard from the thriving businessmen, are not accessible on your business plan.

The following Five are the best core principles an entrepreneurs like you should keep in mind:

1. Execute effectively and efficiently 
All your ideas as best as nothing if they remain as ideas. Your amazing strategies must be partnered with a remarkable execution to achieve a competitive benefit and be more stunning to market. Money, time and effort are resources you should not afford to waste so worship your timeline, manage your finances well and ensure that what you do makes sense.

2. Product and customer value is priceless
Standard is everything. This may emerge too many times in your notes but to emphasize more its significance is still an understatement. The standard of your services or product make you and will definitely be the primary thing that will break you. Forever take plus caution on standard control and exercise assurance every minute of the day.

3. Your workers are your partners
You may be manager and the owner but that does not mean that you will succeed without other people. After you choose the best people, treat them as shareholders or partners. You will not learn how to manage people overnight so practice your best judgment in selecting them then consider them your family as you move forward. A boss is a motivator. Set the best attitude in the workplace, delete barriers in communication, and ensure everyone is fully committed to the firm and what it does. Make an empowered team.

4. Categorize danger
In every endeavor, there are dangers at stake. You have to learn how to categorize these dangers like how you rate your objectives from the bottom to the best priority. Removing dangers are possible but you will not be capable to delete all of them at once. As mentioned, your resources are restricted, learn to attack in the least costly but most perfect manner.

5. You must have a hedge
In cases beyond your control like economic downfall or terrorism or plague, you must not go down along with your affected business. If there is no way to keep the firm from these types of events, ensure you have a downfall. Trust in the saying that you must not put all your eggs in one nest. Be proactive.

CA Hemant Gupta
hemant@neusourceindia.com
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