Common mistakes prominent businessmen never make again

There is a determined goal in everyone’s life and the people give their best to achieve it but sometimes, such conditions occur when people easily defeat and go away from their goal. No problem occurs without any reason. There is something behind it, which you need to observe and solve. If you find out that reason and solve as well then no trouble can overcome you from your desired goal.

sad businessmanThe Same process is applied by successful businessmen. A successful businessman never comes to his fault in front of him again and again. They always have right solutions for their all problems and they use it at the right time in the right way. A gentle businessman always tries to learn something from the problems and mistakes and never repeat it again. They keep their strategies ready so that any kind of obstruction could not stop their work.

Let’s see, how a successful businessman does not repeat his mistakes again.

1. Set their limitations

Set limitations and boundaries can be challenging but it is better than any catastrophe. Applying the defined policies in the business and sticking on it can be beneficial for a long run. Sometimes, such situations occur when customers disagree with policies of the business and oppose it then they explain them about their policies and its requirements. They are honest about the limit that they are ready to adjust. If they are not able to adjust with a particular customer then stay away from them because short term loss is better than facing the complicated set of problems in the future.

2. Set timeline carefully

A businessman always is aware of the upcoming hidden surprises. He always knows that he may have to face many uninterrupted challenges during his work. This is the reason a known business never set tight timeline or time frame to complete a task while solves challenges wisely. Most of the businessmen follow this strategy to face the upcoming surprising challenges.

3. They distribute work on team members

Success in any field cannot be achieved alone because as you grow in your field, your responsibilities, challenges and workload also increase. In such cases, taking workload alone can lead you to failure. A successful businessman always gives all the credit of the success to their team members because they distribute their work in team members with different responsibilities. As a result, they get better growth on their productivity and long term benefit for their business.

4. They don’t make opponent

An experienced businessman always knows that his competitor is not his enemy. Many times you may go away from your goal in order to beat your competitor. In such case, you may forget that your objective is not to defeat your competitor. Your objective is to provide good services to your customers and make them happy with your services. As much as the focus and energy you put into beating your competitor, if you put one part of it in your business, surely you will get a better result and it will show in your business growth. This is the big secret of every successful businessman. They never take competitor as their enemy and only focus on their work and business for a better result.

Starting a business is easy just follow these steps

Dreaming of own new business can be easy but the implementation of this in the reality can be difficult for everyone because starting a business involves many things to convert the dream into reality such as proper planning, financial key decisions and the complete process of legal activities. The good combination of all these things can help you to start a successful business.

starting a businessSometimes it requires a lot of strategies to start a business and to move forward successfully. There are some steps that can help you to complete a process of business planning and its management successfully.

  1. A business plan

A business plan is a necessary framework for business success. You should write your business plan in the following manner.

  • Write executive summary: This will help you to consider your company position and its success.
  • Write company description: This will help clients and investors to easily understand your company’s goals.
  • Market analysis: It should include some key points such as your Industry and outlook, complete Information about your target market, how much market share you can gain, your pricing and gross margin etc.
  • Design the complete structure of organization and management of your company.
  • Make service or product line for your company and should includes details of products and services, details of product’s life cycle and intellectual property.
  • Make marketing and sales management strategy for the business.
  • Design a framework according to your needs.
  1. Get professional help and training

For starting the business and stay successful on this, you need to get business assistance or training and consulting services. With the help of experts, you can make perfect business planning, secure finance planning to relocate your business in the market. There are many businesses training centers that provide various business courses to lead a market successfully.

  1. Choose a perfect location for business.

Before starting any business, it is the most important to select the customer-friendly location for business, where the customers feel comfortable to come and go. There are some more things that you need to consider before choosing any location.

  • Is the location consistent with your brand image?
  • Is the business around you supplementary or competing?
  • Are there potential employees around your business location and they will be staying there?
  • Is there any extra space for business growth in future?
  • Is the place is easy to find for customers and suppliers?
  • Does the location come under the complete safety and security area?
  • Is the location evaluates your finance?
  • Is the location business friendly?
  1. Follow all legal rules and regulation

It is compulsory that everything in your business should be completely legal. It will be helpful for you in future in many situations to run a business legally. You need to follow some common rules that are:

  • You should have the legal tax implications to the business structure that you have chosen.
  • Your business name should be registered by the government.
  • You need to register your business for state and local taxes to get tax identification number, compensation for workers, unemployment and disability insurance.
  • Obtain the central, state and local licenses and permits that are necessary to run a business.
  1. Finance Your Business

Before starting a business find some government backed loans, research grants and venture capital that will help you to start your business without any trouble. There are many grants and loans program offers by the government, which always will help you to succeed in your business.

If you have successfully established your own business, then it is imperative to understand the good employee management skills to keep your business successful for the long term in future.

How to encourage your employees?

Encouragement creates the productivity. Especially, it works to encourage employees. Every successful leader gets success in their business just because of their employees’ hard work, dedication and unique creativity. Believes me!! To get same productivity from the group of the employees is not an easy task. It all depends on the leader or owner of the company that how they encourage their employees to create more productivity.

encourageThe importance of encouragement proves when it is successfully applied for a period of difficult time and less progress of the organization. It is a technique combination of art and science that how a leader of the organization provides incentives to employees especially in difficult times to get better productivity. A responsible leader always should have the ability to read and respond on the emotional needs of others by emotional intelligence. The proper body language, the correct choice of words and the right interaction with others will be helpful in the encouragement of the employees.

Here are some useful techniques for the leader to encourage their members

Better communication with employees

If you are only connected with your employees by an email or a newsletter then it will take you away from achieving your goals. With the help of emails and newsletters, you will not be able to tell your employees their vital capabilities. To motivate your employees for better creativity you need to communicate with them frequently and face-to-face. As an employee, I can say that the every staff needs to know their important value in the organization. I am sure, the appreciation of employees’ hard work helps to boost their energy to generate more productivity.

Known the needs of employee

Generally, problems occur during the working. In some cases, an employee is not satisfied with his work. Here you need to consider the things/requirements of each employee. You need to improve your observation skills so that you can easily observe the employee’s needs by watching and listen to any changes in their behavior. Always try to fulfill their requirement by listening to their problems and needs, so that they could never go towards frustration and despair, these frustrations and problems can reduce their productivity at work.

Always be an example

To make your team hardworking or dedicating, you always need to prove yourself in front of them as an example for achieving a goal. Unless you become a big example in front of them, you cannot expect hard work from them as you want. As a team leader always give your best to your organization. Whenever you get time to show your excitement about the company’s goals and valuable points in front of the employees. Make sure, if you will be excited for achieving the company’s goals then the employees also will get on board to achieve set goals with full excitement and energy.

Improve employees’ skills

Always guide your employees to give their best. Always support them by providing helpful suggestions to increase their productivity or performance at their work. Each employee expects from the team leader to guide them well and introduce what is good and bad on their performance. Even in maximum cases, the leader hides their creativity skills and not shares it with the employees. As a result, it causes lack progress of the company, which takes away the company from its goal. Therefore, regularly take employees’ reviews regarding their improvement. Always try to take their advice and suggestions for organizational growth and implement as well. To make your employees motivated and empower give them the rights to take their own decisions. It will really help to encourage them for the great productivity.

Benefits of startup India

The India has become the largest startup spot in the world. The startup is becoming very popular every day in India. It is playing a big role in encouraging innovation, job creation and positively impacting on the social-economic fabric of the country. To promote entrepreneurial spirit and help Indian economy, the government of India has taken several initiatives under the Startup India. There are lots of benefits of startup India, some are described below.

startup india

  1. It is easy

There is the easiest way of registration for everyone in the startup with easy use of the mobile app and the website that is launched by the government of India. If anyone is interested in startup and set up then he or she can fill the simple form on the website and upload certain documents. The entire process of the startup is completely online.

  1. Provide a cost reduction facility

The list of patents’ facilitators and trademarks are also available in the startup provided by the government. They offer the high-class intellectual property rights services including a quick examination of a low-fee patent. The government only takes facilitating charges so you can enjoy 80% reduction in the cost of the patent filed.

  1. Easy to access the fund

A fund of 10,000 crore rupees has been set by the government to provide funds for startup in the form of venture capital. The government is also giving the guarantee to the lenders to encourage the banks and other financial institutions to provide venture capital.

  1. It is tax-free for 3 years

There will be no income tax payable on all the profits earned in the first 3 years. Thus it is government’s financial assistance to the startup.

  1. Apply for tenders

The startups also can apply for the government tenders. The startup India is exempted from the “pre-experience / business or turnover” norms applicable to general companies applying for government tenders.

  1. Research and development facilities

The seven new research parks will be established in the research and development sector to provide better startup facilities.

  1. No time-consuming compliances

For saving the time and money of the startup, various compliances have been simplified. Through the Startup mobile app, startups are allowed to self-certify compliance with 9 labors and 3 environmental laws.

  1. Tax saving for investors

The people investing their capital in the enterprise fund established by the government will get the exemption from capital gains tax. This will help a startup in attracting more investors.

  1. Choose your investor

The startups will have the choice between the VCs, where they are free to choose their investors.

  1. Easy to exit

In a case of the exit, the startup can easily close the business within 90 days from the date of application for closing business.

  1. Huge networking opportunities

The government has proposed to organize two start-up festivals at a national level and international level so that they can meet with the various stakeholders of startup. This will provide the vast networking opportunities.

The startup is extremely encouraging by the government. Therefore people are setting up startups. If you are one of them then tax relaxation can help you on your way.

Happy Birthday Twitter – Twitter Turns 10

Twitter Turns 10

Twitter has completed 10 years on 21st March. It started journey with a single Tweet. There are lots of iconic moments that have gone on this social media site in the last ten years. Jack Dorsey (Twitter’s first and present CEO) sent the first tweet on March 21, 2006. On its 10th birthday, Twitter has 320 million users with the presence of world famous celebrities such as Harry Styles, Katy Perry and Justin Bieber. At present, Twitter is not a small, strange unprofitable startup but it is a big, well-known, profitable corporation. There are some amazing that happened in the last ten years on twitter.  They have rounded up a list of sites including stars first tweets, iconic pics and more for your happiness.

Interesting Facts:

According to twitter “Throughout the years, you’ve made Twitter what it is today and you’re shaping what it will be in the future. Thank you for making history, driving change, lifting each other up and laughing together every day.”

Moreover, until the end of May 2009, twitter took over to reach the billionth tweet in 3 years. At present, approximate 6000 tweets are tweeted every second on Twitter. It corresponds to more than 350,000 tweets sent every minute. Therefore, around 500 million tweets per day and approximately 200 billion tweet per year. The data is according to Twitter Usage Statistics. Hence, it is great for twitter that started on 21st march 2006 in the Australia and now moving all over the world. For twitter, all the best wishes for 10 wonderful and incredible years.