A boost for startups

Posted by on Apr 6, 2015 in Start-up business | 0 comments

Young entrepreneurs can look forward to better support in Bengaluru as Nasscom’s Startup Warehouse is set for expansion.  The facility, located on HAL Airport Road, will quadruple in area from 9,000 sq ft to 36,000 sq ft, and get more infrastructure.  It is part of Nasscom’s two-year-old 10,000 Startups initiative to boost the burgeoning startup ecosystem.

Nasscom plans to run an intensive skill-building programme customised for early stage startup companies.  Besides, Nasscom will also provide access to veteran startup founders and ever widening network of angels for hands-on-mentorship.

The programme is rolling into its fourth phase for which about 200 firms will be shortlisted by a panel of experts.  Applications, processed on FIFO (first in first out) basis till April 22, 2015 have to be made at 10000startups.com.  The seat allocation is an ongoing process, with applications monitored regularly.

Each startup gets up to 5 seats in the 70 seater room that is open round the clock.  There is a 10 Mbps broadband leased line, besides 100% power backup and four meeting rooms.

As part of the expansion, the Bengaluru Warehouse will have a dedicated mentor program attached to it, and also India’s first IoT lab, a design lab and a mobile lab.

Source: The Hindu

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How to setup a new business – 2 day training

Posted by on Oct 23, 2014 in Business, Self-employment, Start-up business, Training | 2 comments

new business

How to setup a new business – 2 day training November 8-9, 2014 at Hyderabad

Training – How to setup a new business?

There are different kinds of approaches among aspirant entrepreneurs during their initial momentum.

  1. Approach of the majority of aspirants would be that he/she would explore on their own the ways and means to turn their idea into business.  As a first step they go searching for a like minded partner and then into further steps.
  2. Some of the aspirants who would like to play safe would talk to business consultants for advise and guidance before they invest their money.
  3. Some of them directly approach banks for project finance with bare idea and without any documentation.
  4. Some of the aspirants would remain in suspended decision while keeping their dream alive.
  5. A very small percentage of aspirants just go ahead setting up their new business with a gut feeling.

We are conducting a 2 day training programme which would provide answers, guidance and momentum to every aspirant who is in the mind and action of starting a new business.

=== Outline on training content ===

  • How to finalize the best business idea?
  • How to start a new business?
  • What are the various steps to launch a business?
  • How to determine a right investment?
  • How to make a Feasibility Report and a Project Report?
  • How to make a Project Plan?
  • What are the schemes available for a security free loan?
  • How to market products or services?
  • What is the right path to achieve success?
  • How to improve present business?
  • How to build online presence for any Business?
  • How to grow to be a big company?
  • How to earn global identity?

=== Faculty profile ===

http://blog.epmworld.in/wordpress/index.php/about-me/

=== Contact ===

ram@epmworld.in

=== Fees ===

INR 4,000 per participant.

Lunch and two time tea is included.

=== Schedule and Duration ===

2 day training November 8-9, 2014 at Hyderabad.  The venue shall be notified in the first week.

This training program aims to cover all such above questions with case study/exercise specific 2 day 16 hour session.

=== Who can attend? ===

  • Anyone who intends to start a new business
  • Existing business owners
  • Consultants
  • Students who would like to get knowledge of business and entrepreneurship
  • Housewives who are keen to start home based businessThe sessions are covered in English with clarifications wherever so required in Telugu or Hindi.

=== Training material ===

  • Notebook, Pen
  • Model Project
  • ReportImportant templates

=== Takeaways ===

  • New Business ideas that you can immediately launch
  • Clarity in Vision, Approach, and Mechanism to start a new business
  • Templates that can be used in the process of setting up a new business
  • Mentoring on case-to-case basis to setup a Business

=== Facebook event ===

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Important links for startup business ideas

Posted by on Oct 14, 2014 in Business, Government Schemes, Project Finance, Loans, Self-employment, Start-up business | 0 comments

Important Links for startup businesses

We have got numerous institutions in Government sector who assist in idea development to promotion of startup ideas.  The services constitute:

  1. Geography specific potential opportunities for startup businesses
  2. Sample Project Reports that provide one glance understanding of chosen startup project
  3. Data of capital equipment suppliers
  4. Steps to register a startup company
  5. Government Schemes with details of loans, incentives and other support to startup companies
  6. Research, Incubation and Marketing Support to startup businesses
  7. Market Data pertaining to several startup opportunities
  8. Access to global data for export of produce
Services from EPMWORLD

EPMWORLD Service diagram

There are many more services that industry promotion institutions provide to a startup business.

Startup founders, however, would ignore the effort of research and exploration and thus work with insufficient data.  Moreover, the prime focus of startup founders mostly targets loan procurement.  Banking institutions in India are not startup friendly.  The schemes like CGFT and its provisions are grossly under utilized owing to touch me not attitude of several bank authorities in accepting CGFT based loan applications.

Considering the above it is important that startup founders should explore various government provisions and then approach financial institutions with right documentation for loans or incentives.

The other option is to engage a consultant who would enlighten them on various related activities to setup a startup.

Here are some links that would help startup founder to explore data on some of the above aspects.

The above links are just indicative.  There are many more institutions and several more URLs to explore.

You may also like to explore various pages of this blog related to government schemes, project loan process, startup business ideas, idea evaluation, entrepreneur qualities, branding, online reputation and many more business aspects.  Should you need more information may please leave your comment herein.  I would try to answer your queries that falls within my scope.

Venkata

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The need for Entrepreneurship Education

Posted by on Sep 4, 2011 in Business, EPM World, Marketing, Branding, Self-employment, Start-up business | 0 comments

In my earliest posting I have cited several contributing factors to become a successful entrepreneur.

While starting a business is one side of a coin the other side is running it successfully duly strengthening the confidence of all stakeholders.  The top three problems faced by start-up entrepreneurs are mostly (a) marketing, (b) management and (c) working capital.  However, majority of entrepreneurs point their failure towards deficient financial resources or short working capital.  The creeping fact indeed would be mostly the failure in marketing.  Poor marketing and sales would create a vicious circle where poor sales results in piling stock in the warehouse, which in turn would make a dent on working capital leading to management confusion.

A good percentage of start-ups are initiated by first generation entrepreneurs who lack the knowledge or experience in the business processes or functional priorities in business.  Many don’t follow the business setup processes like:

  • Opportunity/Idea research: If not done it would result in inappropriate, unviable or bad business selection.  This would lead to obvious failure at the end.
  • Feasibility Study: If not done it could result in incorrect product / service selection for the target market, improper sales projections, wrong or deficient strategies to face competition and more.  The end result would obviously be either product failure or market failure.
  • Detailed Project Report / Business Plan: If not done it will not let you know the sequence of processes, actions required in the end-to-end implementation of project and the planning & strategy required to conduct business operations.  Besides, these documents would be highly essential in securing business loans, availing government support with respect to loans, and subsidies.  DPR and Business Plan are the mirror to the business / project and an entrepreneur should invariably get the same done and imbibe the contents for right implementation.  The documents should never be considered as a record alone if a true and transparent success in the project / business is to be achieved.
  • Project Management: This is related to the setting up of business or executing the project in a structured, disciplined, transparent and an accountable manner.  Project Management is important because if you don’t manage project effectively, you will find yourself at the negative end of the road.  The saying goes very clearly that when you don’t plan, you plan to fail.
  • Marketing Strategy: The sin in business is allowing the produce to remain in the warehouse than pushing it into the market.  How is it possible to market a product without right strategy that could tell you the means, resources, methods, and schedules to market your produce?  Hence, marketing strategy is highly essential for the very viability of business.
  • Financial Management: Financial resources i.e. money is every thing in the business.  Inadequate money or improper financial management will result in several failures.  This is especially difficult where the business procures secured or unsecured business loans which will need servicing of loan on time for peaceful running of business.  Many businesses will again misjudge the spending on CAPEX and Working Capital.  Going beyond the budgetary allocation for procurement of capital goods or high spending with poor negotiation power will result in drain of budgetary resources.  The effect would be a strain on working capital.
  • Induction of human resources and expertise: Team is everything.  Induction of quality team depends on right job description and right recruitment processes.  This plays a pivot role especially in the matter of senior management personnel.  This would always need professional consulting services and business should not go for just known resources or cheap resources to save money.
  • Communication management: This could be resolved through professional management processes and should not be ignored.  Right communication and interactions would create brand identity and corporate identity in the organization pervading transparency across the enterprise.
  • Collaborations & Partnership: Identification of partners who can complement the business abilities and requirements, proper negotiation of terms, clean exit plan and assessment of ROI on partnership are most important aspects which could be done only through right understanding of market.
  • Stakeholder Management, CRM: If the aspirations and expectations of stakeholders are not properly analyzed and right customer support system and Customer Relationship Management is not in place, it would result in customer dis-satisfaction and business erosion.
  • Return on Investment: Business should be directly related to the Return On Investment.  Having cash flow for some reasons may at times make you believe that business is doing well.  Professional assessment of return on investment is an important process and business must know the short-term and long-term returns to be received and investment recovery time lines in order to drive the business in right direction.

Several SSI and SME firms have a bad notion that businesses would not need such a strict rules to follow documentation or detailed processes as above.  That is the very cause of business failure.  Process and process quality is inevitable for business success.  There is no thing called ‘small’ or ‘big’ in the matter of ‘success’ or ‘failure’.  Both would have same bearing and would have same background in all likelihood.

The situation calls for professional education for entrepreneurs before they start their business.  Interested individuals can contact us for Start-up education or start-up services at any stage of their business progress.

http://www.blog.epmworld.in

http://www.twitter.com/epmworld_edc

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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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