Mentorship: Need of the Hour

In the field of business, mentors are an invaluable asset to the business. Whether it’s a nascent business or a well -established one, everyone is prone to challenges & obstacles which prevent the businesses from succeeding. Thankfully, there is an underutilized resource out there for small-business owners i.e. working with a mentor.

1.      A mentor helps to find the weakness in the business model: As an entrepreneur, sometimes you become overly attached to your business plans and have tunnel vision to the success of their businesses. A mentor helps you look past your limited scope and see the weaknesses in your model and help you capitalize on your greatest resources. Constructive feedback is extremely crucial to keep your business on the right track which comes from the mentors in the best possible way.

2.      Higher chances of success: 70% of mentored businesses survive more than five years, which is double the rate of non-mentored small businesses in the same period. Not only is there a correlation between mentorship and success but the benefits of having someone to lean on professionally are equally compelling. This is another good reason to keep your mentors close.

3.      An Opportunity to expand business: A good mentor helps you get connected to the required investors, clients, co-founders or contractors who provide valuable service. Therefore, mentors can help you build a strong & essential network which is considered to be a secret weapon in the success of any business.

4.      That necessary boost in times of distress: As we know, right motivation can make a world of difference to any individual. Similarly, in businesses too, a good mentor is the best source of motivation who boosts up your confidence & give you the much needed motivation to sail through the toughest time and guide you to put the best foot forward.

5.      Necessary methodologies & strategies: A Good mentor can help you provide with useful insights on past experiences and fill-in those knowledge gaps Business mentors can prepare you with a library of methods and strategies which can benefit you as a business owner in the long run. They can not only tell you, from experience, how important it is to create a positive ambience, but they can also give you strategies for doing so.

In the words of Zig Ziglar, American author & motivational speaker ‘Many people went further than they thought they could because someone else thought they could.’

A Learning Life of an Entrepreneur

Life is substantial as spirit or as matter, as the nominal principle or as the phenomenal personality, as monad or as atoms. Since time beginning the spirit of having more keeps man moving forward and one of the biggest example in front of us is efforts made by human for evolution.

Work and life balance is different for everyone. Some people want more work in their lives while others want to work minimum and spend the rest of their time with family, friends or working on hobbies. But an entrepreneur is always on its toe with never giving up attitude, unsatisfied spirit and that is what set them apart.

If one would know what lies ahead in future, the struggle wouldn’t be interesting. An entrepreneur works daily day and night with tireless effort. There are trying moments and there are failures too. The burdens of innovating constantly, possibility of turning failures into victory, a spirit that simply can’t afford to die till dreams get concrete, the unlimited caffeine intake and the never ending hustling…the journey is similar to that high energy particle that collide, whooshing towards either success or failure.

I believe anyone can be an entrepreneur. Not only an entrepreneur but also a successful one. There are source searching still left to discover our inner potential gifted by our fore ancestors.

Have you ever wondered why Homo sapiens paid so much attention in making their tools?

The reason was their hunger to collect maximum vegetables and animal flesh for their clan. And therefore this early man has justified to work mindfully by preparing more sharp tools to turn out good number of profits and rewards. As a result we are living in a perfect well developed civilized environment with settled agriculture and many more modern foundation.

It is said one learns from life or from book. With my bits of knowledge from both, I believe for anyone in life, business, job or relationship; it’s always situation which goes wrong and can be controlled by taking right concrete actions through wisdom. Being true to yourself and accepting reality with open minds is must for all. There are situations when I have seen entrepreneur losing out their patience. The major thing they face is that they have good ideas, moral support but no funds. They get impatient and loose out all other things like moral support and mind to develop ideas.

And there are other situations like when one has money but no moral support. There are even people who burn themselves in fire of earning and having more. Important is to have balance between professional and personal life.

When it comes to real life stuff nothing can beat local support. One need friends that can actually show up at your doorstep and give you a helping hand, encouragement and listening ear.

One who is aspiring to be an entrepreneur or is already flourished should follow  certain Do’s and Don’ts which leads to success:

Remember not to sacrifice on relationships, rest by spending all your time only at work. It is truly said “nobody on deathbed ever wished if they had spent more time over work.’

For being a successful entrepreneur it is also important to take necessary steps such as forming time to time marketing plan, HR policy, keeping watch on asset management and your company accounts.

Few may have mentor and few may not but one should always be open for learning. Whereas having a mentor makes a huge difference in your success. They align themselves with your goals and show different gateways for achieving them.

We all are pressed for time but we should not neglect our hobbies. Pursuing a hobby would bring more success at your work. One has to focus intensely on opportunity. Once there is opportunity it is time to discover your ideas physically. Things won’t work on its own. It is always better to rely on your team and execute it well. Besides all this one should give time alone and try meditations and long walks to provoke more thoughts. 

There might be disheartening times when your business partners mislead you, employees leave you or seeing depreciation in company accounts. But a downfall can be turned into many upcoming heights. Be hopeful about it and take it as another point of learning.

One who stays committed towards their vision and turn your weakness into strength leads to success. The feeling in ones heart is much stronger than the setbacks. Even when one is thinking to quit, but with strong determination and conviction they come back. Always believe in mantra “Just Try Again!” Each person in life contains infinite potential; and should try to turn their limitations into possibilities. The vision to look forward will actually take miles ahead.

The path to success lies in evolution, whether it is evolution of ideas, services and products or technology. An entrepreneur should have an open mind and eagerness to learn new things. It is imperative to understand that the only way to keep at the top is to keep on changing and evolving with the time. An entrepreneur should be aware of the latest service techniques and technology in order to serve the clients in a better way. 

And yet all one moves forward with is A vision, A passion, A dream. And the desire to build something no one has ever built before.

MY OFFICIAL GANESHA

Have you ever wondered how the corporate world was at the time of Goddess and Goddesses? What is the true meaning of teacher? And why is it Ganesha worshiped first?  

Behind every successful man there is a successful woman. The story began when Goddess Parvati, ‘President of Universe pvt.ltd’ instructed Lord Ganesha, ‘Managing Director of Universe pvt.ltd’ to look after others around and not let anybody enter in her cabin. Lord Shiva, ‘Founder of Universe pvt.ltd’ wanted to speak President Parvati, Ganesha the generous and responsible leader did not allowed him to enter.  Shiva became furious and fired Ganesha. Hearing Ganesha's dismiss, President Parvati became furious. She pledged to destroy the world if Ganesha was not brought back. But finally Shiva respected Parvati’s decision and decided to bring Ganesha back.

On return Ganesha was completely a different person who lost all his confidence. Seeing this condition of Ganesha, Parvati decided to give him powers which has authority along with responsibility. So, Shiva promoted Ganesha as CEO of ‘Universe pvt.ltd’ and declared that no puja or good work will ever be deemed complete without invoking Ganesha's permissions.

Like all other corporates, Ganesha too had to compete to prove his capabilities. Once Ganesha's colleague Kartikeya, 'Managing Director of Universe pvt.ltd' brought a new business model for the growth of organization. Kartikeya with his new business model declared that he was the best among all. 

Shiva suggested that Kartikeya and Ganesha would contest. He questioned and asked both of them to search on Universe where did they got all the learning and insights. The one who returns first with the answer will be declared winner and he will be the key person for this business model and other upcoming projects in Universe pvt.ltd. So, Kartikeya happily set out on his peacock car in search of answer. He went all over the place in Universe but Ganesha being the intelligent one, circled around Shiva and Parvati answered that all the learnings were passed by them.

On this impressive answer, Ganesha was declared the winner and was given all the responsibilities of Universe pvt.ltd and that is another reason of worshiping him first.

Yogic Belief According to the yogic perspective, anything we do has to fall under one of the two categories: material or spiritual. It is believed that Lord Ganesha rules the 'muladhara chakra' of our body. 'Muladhara' is the interface between the material and the spiritual worlds. Lord Ganesha is said to control both these worlds. He is the one who gives the material enjoyments in this world and He is the one who liberates us from the endless cycle of birth and death.

According to Indian mythology it is believed that Lord Ganesha is eternal and he appeared even before the process of creation. Ganesha epitomizes wisdom and knowledge. He is the Vighnaharta or the destroyer of all obstacles. Ganesha's elepha

nt head is the symbol of wisdom and his long ears signify that he hears everything that his devotees say. It is also believed that Lord Ganesha is worshiped before starting any work. He blesses the devotee with knowledge, intelligence, sidhdhi, removes all obstacles and protects them always.

Kat-Putliyo K Shehr Mai

Koi rooh thi
Jo puch rhi thi...
Pehchan mai kon?
Koi awaaz thi suni-suni hui si
Puchti pehchan kon?

Kehti mujhse
Kisse dhund rhi hai
Mai dur nahi wahi hun
Aur pass ho k bhi durr hun
Kabhi merko mere hone ka ehsas dilati
Aur bakio ko kat-putliya bolte hue
Ek hasi chor jati...

Kabhi lagta mai hun, Toh sab hai
Mai nahi, Toh koi nahi
Jab mai aage chalu
Toh piche sab shant hai
Aur jab mai piche murru
Toh Kat-putliyo nachti hai...
Yeh ek raaz hai
Zamane ko dekhne ka
Apna andaz hai...
Kisi K hone ya naa hone ka
ehsaas hai...

Roar For SME Community

After independence we have seen our fair share of conflicts, struggles, and setbacks. India still faces many challenges, but now it is poised to reach a higher position on the world scene than at any previous time.

A roar of lion is filled with victory and joy. It is time for SMEs to be fearless like lions. The SME community can gain a lot if they contribute towards this initiative of Make in India.

Small and Medium Enterprises (SMEs) play a vital role in the industrial development of any country. The importance of this sector is well recognized worldwide due to its significant contribution to gratifying various socio-economic objectives, such as higher growth of employment, output, promotion of exports and fostering entrepreneurship.

Recently, the Prime Minister charmed the global community and national industries with his enthusiastic promotion of his “Make in India” campaign, inviting international manufacturers to come and conduct their core operations in India. Global businesses are looking towards India and creating new opportunities for small enterprises and start-ups.

India’s economy is divided between agriculture which accounts for a quarter of the gross national product, manufacturing constituting another quarter, and the high-tech service sector which now makes up a full half of the gross national product. Striving to become a “knowledge superpower,” it hopes to skip the intermediate step of industrial development that has preceded other nations’ march into the Information Age.

The primary factors of production, large availability of labour, and ready access to capital work quite well to lay a solid foundation for a thriving manufacturing sector in India. Labour has traditionally been seen as a major strength, even though historically labour has been regarded as cheap but relatively unskilled. That is changing quickly, because even though businesses are still able to avail the service of indigenous labourers at increasing but still cost-effective rates, overall, the training, skill and expertise of the average Indian worker has shot up significantly over the past few decades.

As for capital, banks and financial services companies are ready, willing and able to provide loans to new businesses, and SMEs in the manufacturing sector in particular have various government schemes and subsidies they can profitably utilize. Banks have seen credit and restructuring default rates go down compared to other sectors, and are willing to provide capital on demand to most.

The government is attempting to pitch these factors to invite foreign manufacturers interested in establishing India as their base. After weathering this crunch time, it is now gradually beginning to pick up again and has returned to solid growth, so that it remains on course for the 2025 target of accounting for close to a hundred million jobs.

So now roar with all the power of a mighty lion. Be fuelled, not fooled!

TECHNOLOGY AND INNOVATION

It is widely known that small and medium enterprises play an important role in the vitality of local economies around the globe.

I was recently reminded just how important SMEs are as growth engines of our economies and that very moment I got stuck to this very famous quote “I think, therefore I am” a theory of existence proved by philosopher Rene Descartes.

I am referring to this quote because technology has taken the responsibility of every business organisation to show their actual existence.

Technology is viewed as a means to save time and effort. In recent past it is seen that technology is transforming innovation at its core, allowing companies to test new ideas at speeds and prices that were unimaginable even a decade ago. They can stick features on Web sites and tell within hours how customers respond. They can see results from in-store promotions, or efforts to boost process productivity, almost as quickly.

Advancement of technology has increased the level of competition and performance in various sectors of industry by broadening their innovation capacity.

Technology beyond the use of emails alone, has helped to move some businesses past the word of mouth and traditional print advertising approaches by introducing social networking platforms, e-commerce tools, customer relationship management techniques and other internet based activities that help spread the word about the business thus enhancing reach and online visibility.We all understand that technology has become the backbone of every organisation. But we still lack by using it in appropriate way. Let us now understand how technology helps us in expanding and controlling our business:
Marketing and customer acquisition is expensive and time consuming as it is usually based on referrals and not a structured activity defined by a specific process.

Due to new technologies doing business is more easy and cost saving. Now communications are instantaneous, huge amounts of information move through email and the Internet and powerful tools are in the hands of owners and employees. Innovations in technology have improved operations at companies of all sizes and helped turn small local businesses into global businesses.

We have observed there will be better payoffs for customers. Their likes and dislikes will have much more impact on companies’ decisions. In globally competitive markets, they will ultimately end up getting products and services tailored to their needs.

Earlier there were no employee bank accounts; attendance records were maintained manually and employee were recruited via reference. These things were time consuming hence HR could not work much on the growth and welfare of staff.

But after coming up of new technologies a new modern market has taken place where the responsibilities of HR has changed which include recruitment and training, oversight of legal and regulatory compliance, benefits administration and the safeguarding of confidential employee information, along with many more.

Technology slowly making its way into the supply chain the logistic operations have become more beneficial and informative.Logistics businesses totally depend on I.T. services to maintain high efficiency standards and ensure good service to customers.Social networking websites, apps has improved market logistics operations by linking the numbers of your supply chain through network communications which has also increased the productivity and reduced the time.

According to Federal Bureau of investigation annually uncountable cargo theft takes place. But now technology has made logistics more secure. This can be done by attaching a transmitting device to cargo so as to track and monitor cargo all through its journey, using wireless communication.

Hence, technology is leveling the small business playing field. Today’s entrepreneurs are using technology that, just a few years ago, was the exclusive property of large enterprises As technology becomes cheaper, more powerful and more accessible, the costs of starting and operating a business decrease, while the opportunities for small business innovation increase.

The growth of Internet, broadband networks, social networking software and mobile computing are obvious examples of trend that is powering the business organisations. It has also helped in enhancing small business innovation opportunities in manufacturing logistics, customer service, finance and almost every other business activity.

PUBLISHED ARTICLE: http://smbconnect.in/blog/technology-and-innovation/

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