Project Reports, Project Profiles – 1

Posted by on Aug 13, 2011 in Business, EPM World, Self-employment, Start-up business | 0 comments

I have herewith attached some of the Project Report summaries and brief Project Profiles as compiled from various sources.  I will keep adding more and more for the benefit of several budding entrepreneurs who contact me for initial understanding of project cost and related metrics.

Baby-bloomer-suits
Infant-garments
Bed-sheet-and-pillow-covers
Briefs
Cotton-knitted-fabrics
Cotton-lycra
Cotton-yarn-dyeing
Denim-garments
Gents-ready-made-garments
Gents-t-shirts
Knitted-fabrics
Shirts-and-skirts
Fish-meal
Spices-grinding
Tomato-Sauce-Ketchup-and-purees
Macaroni
Mustard-oil
Milled-maize-product
Potato-products

Please talk to us for more detailed report and support in setting up any of the above businesses.

http://www.blog.epmworld.in

http://www.twitter.com/epmworld_edc

ram@epmworld.in

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Protect your individual side to save your enterprise from failure

Posted by on Apr 4, 2011 in Business, EPM World, Leadership, Self-employment, Start-up business | 1 comment

Enterprise failure is leadership failure.   This is my personal belief and experience too.  In an environment where entrepreneurial spirit is growing fast, it becomes imperative for us to analyze the causes of failure.  This is similar to risk analysis.  Failure can come in several disguises. At times success can also follow failure if not maintained right.  And failure after success is more painful.  Thus, an individual as a business leader and as an owner of a startup project should take note of the foregoing to join the coveted list of successful entrepreneurs.

Respect business hours: A business leader should never make his team unduly wait for his audience or allow communication gaps.   The habits of working beyond office hours, going unavailable during crucial moments, and disregard to the personal time of the team members are some of the discouraging practices that affect the working spirit of your team.

Clarity is every thing: Ambiguity and indecisiveness can mean lurking risk.  Ensure that you have absolute clarity for every ‘Yes’ or ‘No’ you deliver.  Don’t yield yourself to a specific situation out of obligation or pending confirmation of dependent facts.    Don’t also allow swinging moods or thoughts which could fuel the operational inconsistency jeopardizing the business progress.  When you are faced with conflicting opinions or numerous opinions weigh your decision taking the help of professionals or professional tools. This will save you from possible trying situations in future.

Be business wise: Never act prerogative to over rule or ignore project metrics.  Believe in analytics and respect facts and figures even if they present an unpleasant picture in a given situation.  It is easy to take things for granted but will be very difficult when it comes to bearing the bad consequences.

Nurture professional identity: Stand for the honest, transparent, value driven, and complementing culture, duly honoring the commitments and promises made to stakeholders. Your personal stature and professional conduct largely influences the sustenance and growth of your venture.

Never holdback resources with intent of saving: When your business demands certain resources be it time, team members, consulting expertise, money or other infrastructure, spare it as planned and never start projects without ensuring these things either.  We can’t churn out relishing dishes with scarce ingredients.

Don’t interfere with the functional style of team members: Understand the core strength and working style of your team.  Never interfere in their functional style or resort to constant follow-up.   No two leaders will approach an issue in the same style.  Freedom, empowerment, and delegation are the most required elements for successful productivity.

Maintain calm and composed attitude: It is highly conducive to arrive at conclusions with a calm and composed attitude.  Intolerance, emotional outbursts, and hasty inferences on important issues will mean big damage.  This will reflect you weak in the minds of your team.

Listen without bias: Listening to others is the most important trait of any leader. At the same time don’t give prominence or encourage eavesdropping and whispers.  A team member with this habit will become a big nuisance some time later.  Also never dislike any thing or any one.  Dislike is the first hurdle in learning process and leader should be a constant learner.

Trust every one knowing when and whom to mistrust: Build trust in your team.    Inculcate the intelligence to read in between lines when situation demands.  Don’t wear the attitude of mistrusting every one.  Mistrust produces counter measures.

Boss is the primitive word: In any working environment every one should be given specific responsibility and be empowered with relevant authority to achieve designated tasks.  An entrepreneur as a true business leader should never feel himself / herself above board at least overtly.  Be friendly with your team giving them required space to interact with you.  A business leader should be a solution provider and problem solver first to his team and then to other stakeholders.

Ignorance is not bliss in business: Keep yourself abreast of things in your business line.  It could be any or all of the areas like technical, market related, team related, growth related, company documentation or about the evolving innovations in the line.

Know the benefits of technology: Be open to introduce technology tools to increase your business performance or accelerate business growth.  It could be your web identity, an ERP product, or customer support infrastructure.  Exploit the social networking platform to expose your entrepreneur profile and build personal branding.

Invite change: Many entrepreneurs remain themselves static when it comes to expansion or growth.  They are content with the achieved self-sustenance and like to continue even for decades.  However, a true leader should always hold big picture and invite any change required in this direction.  At times the change could be towards improvement of present environment or changing your functional style.  You should move ahead strategically, leveraging the benefits of core competence, expertise and present net worth.

Greed is voracious and if not controlled will even eat you: Business should always be a win-win contract.  You can earn only when you allow others earn out of you.  Don’t try to milk the cow beyond the last drop.

Respect, respect, and respect: When we respect others we excel ourselves.  Respect brings in the best reciprocal value.  This reflects our individual culture.  So don’t be biased as to whom you will respect or who not.  An employee at the lowest rung to an external stakeholder, every one is equally important in the business.  Every business must conduct itself with an attitude akin to hospitality industry.  Love and respect should be proactive feelings and should never be limited by barriers.

One man army: If you are the lonely team member in your business setup, you can have collaborators and partners as an extended and external team.  Collaborative productivity is more powerful and instills better confidence in the stakeholders.  Be socially active so that you can build an excellent team as you progress in your stride.

Resist temptations: Don’t indulge in any such thing that can cause a blemish to your character, professional image or future prospects.  Resist them at the very sprout.  It could be to amass sudden gains through unethical means or get entangled in relations that could bring embarrassment at a later time.

Restrain family involvement:  Unless it is professionally relevant, an entrepreneur should never involve his family members in the business matters.  At the same time, the personal side of yours should never affect the business matters.  Don’t allow your personal problems impact the business affairs.

Nurture big picture: I quote here one of the tweets I came across on Twitter “If you are dreaming, dream big” (apologies, I will not be able to provide immediate reference as to who said it).  Dreams are the first sprouts for your growth.  Plan to achieve your ambitions and make your dreams true.  Document your dreams and ambitions so that you can develop them into an action plan.

Enjoy criticism: Critics are our well wishers.  Criticism is a tool to achieve refinement. Accept it with humility wherever it is genuine.  Allow it silently even if it was unreasonable and respond appropriately.  Criticism may not always come from expected or deserved sources.  Still it is an exercise made by others on your behalf and for your benefit.

Contribute to social causes: Society gives you business.  What are you giving back to society?

Once you raise an enterprise and connect with several stakeholders, you are socially responsible to nourish it healthy.  When it fails it would mean a loss to several stakeholders including the very employees who worked for it.  That way, an entrepreneur should always guard himself first, so as to ensure his enterprise flourish and enjoy social pride.

http://www.blog.epmworld.in

http://www.twitter.com/EPMWORLD_HYD

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How to evaluate business idea?

Posted by on Apr 1, 2011 in Business, EPM World, Self-employment, Start-up business | 0 comments

Entrepreneurship is evolved owing to several reasons which could be:

  1. Ambition to make big, to earn big, to prove big
  2. Individual experience and expertise in a given area
  3. Investment opportunity
  4. Campus driven
  5. Inspiration by a colleague or a friend to join him / her
  6. Trying situation – Job lose owing to any of several reasons
  7. Family tradition
  8. Any abrupt event that lead to self-employment

However, the very first and the most difficult stage in the journey of entrepreneurship is freezing the very business opportunity for the proposed venture.  The opportunity could be related to service sector, product manufacturing or so.  The generally accepted approach and the best practice at this juncture is going for ‘market research’ on the opportunity, unless the business offering in question is not a job work for some other business.  Considering that the market research recommends the business opportunity, you may go ahead with further positioning in just 2 steps.  Each step, however, is very comprehensive and process oriented.  I have drawn the whole approach into one page document placed below as an image.

Click on the image for a larger view:

How to freeze a business opportunity

The item ‘A’ in the picture presents you two opportunity areas i.e. Product and Service.  The next item ‘B’ contains important parameters to be determined for the product or service offering.  This is the stage where you actually understand what exactly your business is.  This clarity is indispensable in letter and spirit for every further move in your stride.  Considering that you are ready with the plan and process related to item ‘B’, you will move to item ‘C’ which tells you the next plan of action to market your product and conduct your business.  The item ‘D’ is the value what you achieve and the return you gain out of your business investment.

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Food Processing Industry – Approvals

Posted by on Mar 23, 2011 in EPM World, Government Schemes, Self-employment, Start-up business | 0 comments

Following is the text of Government Policy on setting up Food Processing Industry in India.  Reference is available at http://mofpi.nic.in/ContentPage.aspx?CategoryId=136

Quote:

Policy Initiatives:

After liberalization several policy measures have been taken with regard to regulation and control, export and import, fiscal policy, exchange and interest rate control taxation, export promotion and incentives to high priority industries. Food processing and agro industries have been accorded high priority with a number of important relieves and incentives. Some of the important policy changes towards food processing industry are as follows
Regulation and Control:
  • Most of the processed food items have been exempted from the purview of licensing under the Industries, Development and regulation, Act, 1951, except items reserved for small-scale sector and alcoholic beverages.
  • As per extent policy Foreign Direct Investment up to 100% is permitted under the automatic route in the food infrastructure like Food Park, Cold Chain and warehousing.
  • Asfar as food retail is concerned the FDI policy does not permit FDI into retail sector except Single Brand Product Retailing. This policy is uniform for all retailing activity.
  • FDI policy for manufacture of items reserved for the Small Scale Industry sector is uniform for all items so reserved and a separate dispensation for items in the food-processing sector is not contemplated.
  • The policy for distillation of alcohol has been announced vide Press Note 4 (2006) according to which FDI upto 100% is permitted on the automatic route for distillation and brewing of alcohol subject to licensing by the appropriate authority.
  • No industrial license is required for almost all of the food and agro processing industries except for some items like beer, potable alcohol and wines, cane sugar, hydrogenated animal fats and oils etc. and items reserved for exclusive manufacture in the small scale sector. Items reserved for S.S.I. include pickles and chutneys, bread, confectionery, excluding chocolate, toffees and chewing-gum etc., rapeseed, mustard, sesame and groundnut oils (except solvent extracted), ground and processed spices other than spice oil and oleoresins, sweetened cashew nut products, tapioca sago and tapioca flour.
  • Use of foreign brand names is now freely permitted the government.
  • MRTP (Monopolies and Restrictive Trade Practices Act) rules and FERA (Foreign Exchange Regulation Act) regulations have been relaxed and given more freedom to encourage investment and expansion by large corporates.
  • Most of the items can be freely imported and exported except for items in the negative lists for imports and exports. Capital goods are also freely importable, including second hand ones in the food-processing sector.
Fiscal policy and taxation:
  • Custom duty rates have been substantially reduced on food processing plant and equipments, as well as on raw materials and intermediates, especially for export production.
  • Wide-ranging fiscal policy changes have been introduced progressively in food processing sector. Excise and Import duty rates have been reduced substantially. Many processed food items are totally exempt from excise duty.
  • Corporate taxes have been reduced and there is a shift towards market related interest rates. There are tax incentives for new manufacturing units for certain years, except for industries like beer, wine, aerated water using flavouring concentrates, confectionery, chocolates etc.
  • Indian currency, rupee, is now fully convertible on current account and convertibility on capital account with unified exchange rate mechanism is foreseen in coming years.
  • Repatriation of profits is freely permitted in many industries except for some, where there is an additional requirement of balancing the dividend payments through export earnings.
Export promotion:
  • Food processing industry is one of the growing areas identified for exports. Free Trade Zones (FTZ) and Export Processing Zones (EPZ) have been set up with all infrastructures. Also, setting up of 100% Export oriented units (EOU) is encouraged in other areas. They may import free of duty all types of goods, including capital foods.
  • Capital goods, including spares upto 20% of the CIF value of the Capital goods may be imported at a concessional rate of Customs duty subject to certain export obligations under the EPCG scheme, Export Promotion Capital Goods. Export linked duty free imports are also allowed.
  • Units in EPZ/FTZ and 100% Export oriented units can retain 50% of foreign exchange receipts in foreign currency accounts.
  • 50% of the production of EPZ/FTZ and 100% EOU units is saleable in domestic tariff area.

Unquote:

I have provided the above link in order to help several telephonic enquiries.  May pl. visit http://mofpi.nic.in/ for comprehensive information.

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Need to strengthen younger generation

Posted by on Feb 17, 2011 in EPM World, Expressions, Self-employment, Training | 0 comments

In my professional journey, I have interacted with thousands of students who are from different streams of education.  My interactions were in the context of training, employment, career development and counseling.  My dialogue with them would always start with the question “Can you explain a 5 minute brief about your 4/3 years study?”.  All I wanted to know from them was what subjects they had studied, what was the favorite subject, and a few lines on the project work undertaken by them.  The answer from a considerable percentage of students had always been either a blank face or an incoherent talk.  A four year graduation has around 4,800 home preparatory hours at 4 hours a day for 300 days.  This is besides the time they spend in college and mandatory holidays.  Such a precious time is going unaccounted for.  The students were unable to express not because of any momentary psychological pressure or so.  It was because they practically never paid sincere attention to their academics.  All a perfunctory routine.  Attending to college, chit-chat at common adda, movies, and more.

The result is that most of the students (a) end-up being irrelevant to job market, (b) go for supplementary skill development for employment, (c) pursue higher studies (again with same approach.  I saw several students who qualified M.S. with similar predicament as indicated above.  Recall Tri-Valley University saga), (d) take up insignificant or irrelevant jobs (e) undertake errands depending on the need (f) increase gap after last academic which will make them ineligible in the job market or (g) remain unemployed.

The various reasons for this alarming trend is:

  • Insincere efforts by college with respect to quality pedagogy, lab infrastructure, periodical evaluation, project work, and disciplined academic flow.
  • Education is taken up as a commercial venture with least responsibility towards mandatory deliverables.
  • Total lack of regulatory strictures.
  • Lack of involvement and interactions from parents about the child’s growth.
  • Employment opportunities that hardly relate with pursued educational stream.
  • Total absence of understanding  in the students about the (a) value of academic time, (b) foundational significance of studies for bright future, (c) individual responsibility (d) future risk to the career development owing to poor performance, and more.
  • The static nature of academic system w.r.t. its (i) syllabus, (ii) approach, (iii) evaluation system, (iv) faculty development, and (v) infrastructure development.
  • Total absence of research or research based approach.
  • Nonchalant approach towards technology trends, market requirement, need to integrate with or collaborate with industry and research institutions.
  • Mushroomed growth of academic institutions with pure commercial motive.

Some of the required measures to nurture younger generation as true resources for development of resourceful Society and Nation.

  • Total and periodical review and redeployment of academic syllabus in line with the (a) socio-economic requirement (b) technological trends (c) market requirement (d) resource requirement (e) need for research and innovation (f) gap in leadership (g) global relevance.
  • An exclusive University for Faculty Development to meet the above.
  • Increased budget allocations for academic development
  • Infusion of scientific, innovative and leadership temperament in the students through constant means like (i) workshops, (ii) seminars, (iii) talent shows, (iv) knowledge confluence, (v) science expos, (vi) industry interaction, (vii) participation in the socio-economic and community programs, (viii) political pulse, (ix) entrepreneurship development programs, (x) development of individual and professional ethics and values.
  • Stringent performance evaluation across academic institutions.
  • To do away with the reservation system in academics (the reservation system is contributing in the further weakening of recipient socio-economic sections where they are forced to perform less.  I advocate against any incentives, reservations in the individual development, be it academics or other areas).  Fee reimbursement system or Free education is the best option in place of reservation system.
  • Funding to academic institutions for infrastructure development and perennial support in faculty development through the instituted university for the purpose.

Unless we strengthen the younger generation through academic excellence, knowledge proliferation and leadership development, we are going to further weaken our society and generation in all aspects.  We need Scientists, Innovators, Mathematicians, Leaders and Social developers.  Not just the graduates.

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Entrepreneurship Development Meet – Hyderabad

Posted by on Feb 11, 2011 in Business, EPM World, Leadership, Self-employment, Start-up business | 0 comments

blog.epmworld.in

blog.epmworld.in

We are going to organize  an “Entrepreneurship Development Meet” on May 14, 2011 in Hyderabad.  The meet will provide valuable inputs from experts from Government sector, Banks and Industry Promotion institutions on topics like:

  1. Young entrepreneurs – the Creative force in employment generation
  2. Opportunities in Food Processing Sector
  3. Role of Government in entrepreneurship development – State & Central Schemes
  4. The procedures in setting up your choice of industry
  5. Banks the driving force in entrepreneurship development
  6. Questions & Answers

Besides, all the participants will get a very valuable book guide towards setting up their choice of industry / business.

There is every need for taking up entrepreneurship as a revolution.  Next to Indian farmers, the small entrepreneurs are the major backbone to Indian economy.  Self-employment generates parallel employment opportunities.  Entrepreneurship is like a root sprout and every one should nurture it for its un-prohibited growth.

All are invited to this meet.  Interested candidates may send in their details to mail id: emeethyd@gmail.com or provide herein through reply to this posting.

I request you to forward this message to all of your friends as this might prove to be a very encouraging start for him / her towards achieving entrepreneur dream.

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