Growing entrepreneur spirit

Posted by on Dec 30, 2010 in EPM World, Expressions, Self-employment, Uncategorized | 2 comments

During this year, I have interacted with several people who were keen to embark on to some business.  To talk in numbers may be more than 100.  The common factor I found in the aspirants had been to (a) to start a new business which doesn’t exist at all (b) to start a business which has zerooooooooo risk (c) to invest the least money around INR 50K to sizable investment crossing crores.

Without going in to the investment capacity of individuals, feasibility of any venture even with small investments, and their perceptions indicated above, I find the very thought and spirit to engage oneself in self-employment is very encouraging.  This is where the responsibility of consultants, mentors, government, banks, NGOs or any such entity comes into reckoning.  It is quite possible we can find real sparks in some of the aspirants.  Employment generation as we know is the panacea for all ills in the society.  Keeping this in mind I believe it is highly essential to encourage such individual aspirants to stand on their own and contribute to the Indian economy.

The Government of India has schemes like Prime Minister Employment Generation Programme (PMEGP), Credit Guarantee Fund Trust for Micro and Small Enterprises  Under these schemes an aspirant entrepreneur could avail security free credit facility to new ventures from INR 5.00 lakhs to INR 1.00 crore.

My resolution this year is to guide all such individuals to exploit the government support and achieve their pursuits.

I wish every one a very Happy New Year 2011.

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I know it is too bad

Posted by on Dec 30, 2010 in EPM World, Uncategorized | 0 comments

Yes, it is incorrect not to have penned any thing on my blog for almost 5 months. I can’t attribute it to busy schedules. It indeed is an inaction. We are almost at the threshold of New Year 2011. I would like to welcome the New Year with more action. Let me finish this scribbling and start a fresh posting.

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Small Business – below Rs.25.00 lakh investment

Posted by on Jul 27, 2010 in EPM World, Self-employment, Uncategorized | 0 comments

The first generation business ventures are started or proposed by:

(a) Individuals who have put up around 10 years experience in a particular profession and would like to start a venture.
(b) A Group of freshers who intend to experiment their skills and talent
(c) Individuals who have support of parents in terms of investment
(d) Individuals who lost their job and unable to bear the prolonged gap of unemployment

The investment capacity of these people would generally be around Rs.25.00 lakhs to start a small business excepting the one supported by parents.

The options to be judged before starting a venture:

(i) Manufacturing the proposed product
(ii) Acquisition – acquiring a sick unit or any industry engaged in similar activity
(iii) Trading the proposed product
(iv) Retail – setting up a retail shop

The above activity should be taken up with thorough market research with the help of a consultant or personally.

Let us again discuss on the small business opportunities in the next posting.

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Corporate & Professional – How do I give this identity to my organisation?

Posted by on Apr 3, 2010 in EPM World, Marketing, Branding, Uncategorized | 1 comment

When an organization truly competes the characteristics of its line business, in a more transparent way, it could be called a professional entity. When an organization defines its business objectives in clear terms duly indicating the strategy and the delivery mechanism, it paves way for professional development. We could enumerate the following aspects in an enterprise to understand the level of professionalism adopted by it.

  • Scope and clarity in service offerings
  • Vision & Mission
  • Culture, values and ethics
  • Strategy & Planning to achieve its Vision
  • Brand conscious and brand positioning measures
  • HR and Communication flow in the organization
  • Policy provisions and delivery mechanism to achieve organizational productivity
  • Implementation of Best Practices and Certification standards in the functional areas
  • Transparency while dealing the issues of discrimination, grievance, disputes
  • Implementation of technology
  • Statutory identities
  • Clean financial and taxation system
  • Social accountability

Further professionalism is more of an accountability and transparency. It is possible to achieve these aspects when an organization deploys related processes to implement the above provisions. Let us understand process as any given transaction or task to be achieved in the functional or departmental context. For example, performance appraisal of human resources is a process, raising an invoice is a process, quality check list is a process, exit formality is a process, and any report document is a process. At this reckon there will be hundreds and thousands of processes that an organization has to effectively deliver in order to achieve the true performance levels.

The process could be a hard copy format or a digital document. Organizations inevitably follow both the formats as total automation and paperless environment is still not feasible in our business environment. As an example for digital processes, any CRM application at the minimum shall have numerous processes related to sales and after sales support. An ERP application is the true mirror of enterprise-wide processes.

Further, every process should be flexible for due customization. The technology tools like ERP application invariably enable deployment of a given process, modification of the same with due controls, monitoring and measuring it for performance. Still an ERP application enables to integrate the enterprise wide functions and processes so that enterprise productivity and performance is reckoned periodically by the top management with due checks and controls.

Finally beyond all the above, it is the conduct, attitude, accountability and commitment of employees that brings in right identity to the organization as a whole. Hence, in today’s business the HR development is given top priority to match to the organizational vision and mission. Employees should also realize that the positive identity and values achieved by an organization shall invariably enhance the professional value of their individual profiles.

Professional identity and corporate culture brings in stakeholder loyalty (employees, vendors, suppliers, customers, partners …), creates brand value and develops business. Thus any investments made in this direction shall bring in the Returns on Investment (ROI).

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Posted by on Mar 22, 2010 in Business, EPM World, Uncategorized | 0 comments

Leader is the person who exploits the resources in his control to bring in collective productivity. It could be human resources, budgetary allocations, time schedules, and so on. A true leader would again know how to bring required resources in to his control though they are not in his ambit. He would be firm about his target(s).

A leader is a visionary who would gaze the future outcome of his deeds and who would know the resultant benefits to all the stakeholders involved in his task. He would never be selfish. He would never intimidate others. He would never undermine his team. He would never like ‘NO’ in his stride. He would never do all things on his own. He would never believe in adamant control. He would never compromise on the defined outcome. He would never give-up to think. He doesn’t fear of the inherent risks. He would be a crisis manager. He would ensure the pace and momentum of a given task. He would like to create more leaders who could supplement his efforts.

A leader is the person who believes in reciprocal respect. His presence or absence serves the same positive purpose in a given environment. His acts and deeds would create positive vibrations and energies which in-turn keep motivating his team to achieve the chosen task.

A leader is like a matured tree that is all useful to all.

The God Who invisibly controls the Universe is the supreme leader. Hence, an individual who would like to become true leader would invariably believe in God. But he doesn’t discriminate Who the God is. He doesn’t discriminate the God by religion, faith, and culture.

It is important to have ‘Leadership’ as an exclusive topic from primary level education. This would enable the children to have clarity in thought and develop their own vision towards a big picture in life.

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Posted by on Mar 21, 2010 in EPM World, Marketing, Branding, Uncategorized | 0 comments

Branding is the perceptional value of a customer about a product or service. The perceptional value is determined by the delivered value of commitment by the brand in terms of quality, security, consistency, pride, and service. Branding is creating an emotional chord with the product or service offered by a vendor. When a customer buys his favorite SWISS watch, he would involuntarily weigh all these aspects. He takes pride in possessing the product. He would flaunt it with zest.

Branding is equally a sensitive exercise. Any slightest deviation in the commitment by the vendor would undo the decades market stand and place.

Pricing of favorite brand would not be a prohibitive element to buy the product. The brand is respected by the haves and have nots globally and equally. The difference is price affordability in a given situation.

The majority view that media management is branding. Wide publicity, aggressive marketing, PR efforts might generate a surge in demand for the product. However, that would not create a lasting brand value unless the customers, stakeholders continue receiving the committed value from the product. It is like spending millions on publicity of a bad movie. It might generate an instant market. But not a lasting market.

The cardinal factors that create branding would be:

(a) Product / Service Quality
(b) Service & support efficiency
(c) Effective and user-friendly packing of the product or presentation of the service
(d) Value for money
(e) Consistency in all the above aspects

Any other factor that contribute in brand building would be supplemental to the above cardinal aspects.

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