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Tag: entrepreneur

  • New Year Resolutions Every Entrepreneur Should Make

    A new year’s resolution is a kind of promise a person makes to bring change. Not just individuals make new year’s resolutions for themselves, but business owners do it for their businesses too. In 2022, They had taught us many things, the new normal followed by the pandemic is the ultimate truth now. To be prepared for the future and how to manage all things, especially in business. So all businesses want to make 2023 better and the requirements for the organization.

    There are so many new year resolutions every entrepreneur should make so that they can see great growth in their respective businesses. Resolutions can be goals you want to accomplish over a short period (short-term goals) or goals you want to accomplish over a year or many years (long-term goals).

    The end of the year is the time when all businesses set up a plan for the next year and fill the gap that is not covered in the past year. In this article, we will talk about some new year’s resolutions that every entrepreneur should make for the success of their business. So let us get started.

    Time Management
    Expand Your Business
    Secure Your Business
    Lead Through Crisis
    Work-Life Balance
    Learn Something New
    Join New Networking Group
    Give Back to the community

    Time Management

    Time mangement and schedule
    Image: Moina Abdul

    Time management means prioritizing things for one’s life and activities. By doing so, you can reduce your stress. The main goal of time management is to be productive. When you are aware of what you need to do, you can better manage your workload. Forgotten items, details, and instructions always make us do extra work.

    We often talk about time management in our daily life. But do we really know what it really means? When you manage your time, It means you are prioritizing your tasks. So that you can create more time for other things in your life.

    Being on time and working produces great opportunities. By being on time, you are able to start meetings and projects, and your workday is properly managed. Discipline helps you to manage both your time and tasks. It helps you to separate emotions from your tasks. When you are away from your emotions and worries. That is when you perform well.

    Initially, start with small goals that are part of a bigger goal. Most bosses and companies make blunders by giving unrealistic targets to their employees, but that always backfires and reduces the productivity of the employees.

    Expand Your Business

    Growth and expansion are key goals for almost all entrepreneurs. Growing your customer base is important for business success. Most businesses target their sales and marketing efforts to specific customer markets based on demographics like age, gender, location, interests, activities, and values. The idea is to market and sell existing products and services.

    Social media is a powerful tool to promote your business to potential customers and gain valuable insight. Analyze new opportunities in business. One of the best and most effective ways to grow a business quickly is to build an email list. Many entrepreneurs find initial success in copying a competitor’s business model. But it is not a healthy practice in the long term. It is about making your presence everywhere possible. However, quality should not and must not be compromised over quantity. So select online platforms carefully apart from your website.

    It is said that in the 21st century, one skill that requires the most and will be relevant is the ability to inspire others. Personal value is like a magnet that attracts all good things into our lives—the greater our value, the greater our reward. Since the solution to having more is becoming more, we must be in constant search for new ways to increase our value. When you work for yourself, you inspire others by your action and not by words.

    Work on your Health

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    Search volume of “Gym near me” spikes near January every year

    Entrepreneurship is always considered a demanding job. Being a businessperson is a hectic job on earth, but so is our health. When we consider the word ‘health’, we think we have to join a gym or go 10 or 20 miles running or lose weight.

    However, health means balancing one’s life physically, emotionally, and mentally. In terms of physical fitness, we can follow the WHO recommendation of 10,000 steps daily for adults and for mental and emotional beings, and we can do yoga, meditation, or deep breathing according to our schedule.

    Secure Your Business

    Protecting your business against losses means securing your employees, customers, building, equipment, and revenue-related assets. According to CBS, over 80% of businesses have reported that their systems have been hacked. Security cameras and other technologies can also help protect your company from harassment or performance issues.

    The first and most obvious security investment to make for your business is to install surveillance cameras. Modern business is almost impossible without a network where data is kept and shared among employees. If you have employees, keeping accurate records can greatly improve your payroll accuracy and reduce the risk of overpayment.

    A recent Gartner study found that 90% of companies that suffer major data loss close within two years and that 80% of business owners have no plan to protect their data.

    Lead Through Crisis

    “During a crisis, your goal is to reduce loss and keep things operating as normal as possible.”- Gene Klann

    The Coronavirus pandemic is a reminder of how rapidly things can change for businesses. When you are in a crisis, most people are terrified and unfamiliar with the situation. Effective leaders can remain calm and maintain a sense of perspective.

    Organizational leaders faced the current coronavirus (COVID-19) pandemic and associated disruptions in the global economy. Sustainability is going to be a major challenge for a large number of businesses.

    To overcome this crisis, it is always advised to think about the long-term rather than the short-term. However, you need to plan and work for small-term goals, which will be part of your end vision.

    Important steps to lead through a crisis:

    • Connect as a human.
    • Stay on top of the information.
    • Act Responsibly.
    • Choose people over profit.
    • Leaders can prepare their organization to deal with the crisis by acknowledging it.
    • Do not try to control and manage everything. Let things take their own turn.
    • Make yourself available to your employees and people. It is the most important thing to do in a crisis.
    • Addressing your feelings and needs is as important as taking care of others.
    • Decisions like to act or avoid may come at a greater personal cost. Remember the saying by Simon Sinek, “Leaders eat last.”
    • Flexibility in thinking is crucial while dealing with any crisis.

    Work-Life Balance

    There is a difference between work and life, which, for entrepreneurs, is rarely true. Deciding when you are available can be much easier than deciding when you are not available. It is hard to inspire and enroll others when you are not healthy. Be “you” in every situation. You should have less stress, more peace, and more harmony in your whole life.

    By doing meditation, anxiety, focus, and productivity will be improved. During your working hours, make yourself readily available by phone to your customers. After working hours, communication via phone should only be allowed in an emergency.

    Making time for yourself and your family makes for a better personal life, and it also gives you the time you need to reenergize so that you are at your fullest potential when you are working. The most important thing is to learn and grow from mistakes so that you can change what needs to be changed to help you, and your relationships.

    Learn Something New

    Learning new things has its own set of advantages which brings success and helps you become a better version of yourself. Whenever you make up your mind to take up something new, you get to know different people which helps you get a better idea of life. You can always grow, increase your knowledge base, and improve your skills to better yourself. Developing a new skill will influence the way you do things daily today and it will make doing things quicker and easier, saving time, energy, and stress.

    Reading books can be a boon for entrepreneurs. Reading not only supplements us with knowledge and information, but it also increases our focus and analytical skills. On the other hand, a bunch of books on entrepreneurship or critical problem-solving will put you much ahead of your competitors.

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    Top benefits of learning a new skill:

    • Your brain chemistry changes.
    • Your learning speed enhances.
    • You make great coordination between skill areas.
    • You become a more interesting person.
    • Learning new things makes things interesting for you.
    • When you learn something new, your mind’s horizon and your perception change.

    Join New Networking Group

    Whether you are interested in strengthening your network or furthering your, career professional networking organizations can be a great option for you. Professional organizations can enhance your personal and professional development and provide endless networking opportunities. Being part of a networking group gives you a great chance to discuss ideas with your friends and associates.

    Network groups are a useful source of strong referrals that can boost your business. Professional organizations sometimes offer courses, seminars, and lectures to keep themselves and their members up to date on the latest industry innovations, research, and trends.

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    Give Back to the community

    As Pablo Picasso said, the true meaning of life is finding your gift and the purpose of life is to give back to the community where we come from. Whatever we earn, not only in terms of money but in every realm of our lives. We should try to distribute to others; that is the way the universe works.

    Conclusion

    New year resolutions are just a way to give an ultimatum to yourself to fulfill all your short-term and long-term goals. The concept of a New year, a brand-new beginning is taken here and business owners often use this to push themselves to make their businesses bigger and better. The above resolutions are important for every business so that they can enjoy the taste of success.

    A visitor once visited Nobel Prize winner physicist Niels Bohr and, having noticed a horseshoe hanging above the entrance, asked skeptically if the professor believed horseshoes brought in good luck for him. “No,” Bohr replied with a smile; “However, I am told by the sender that it brings luck even to those who do not believe in it.”

    The above-quoted line “that it brings luck even to those who do not believe in it” is the perfect fit for new year’s resolutions as well. They work for those people as well even if they do not believe in it.

    FAQs

    What are New Year’s Resolutions?

    New year’s resolutions are good practices and new changes one wants to implement in the new year and continue throughout the year.

    What are some resolutions entrepreneurs make every year?

    Some of the resolutions that entrepreneurs make are:

    • Time Management
    • Expand Your Business
    • Secure Your Business
    • Lead Through Crisis
    • Work-Life Balance
    • Learn Something New
    • Join New Networking Group

  • Kiran Mazumdar Shaw: How Biocon Founder Became India’s First Biotech Queen?

    India is among the top 12 biotechnology destinations in the world, comprising around 600 biotech companies. In this article, you are going to find information about such a person who has made wealth all on his own, with sheer hard work and perseverance.

    Kiran Majumdar Shaw is an Indian Entrepreneur and Philanthropist who founded a biotechnology company, Biocon Limited in Bangalore, India. She is the Chairperson and Managing Director of Biocon. She received the Othmer Gold Medal for her exceptional contributions to the progress of science and chemistry. Financial Times named her in the business list of top 50 women. Forbes listed her as the 65th most powerful woman in the world. She was also named EY World Entrepreneur Of The Year 2020. She was ranked #2 in the Women Philanthropist list of 2019 by the Hurun Report India Philanthropy List 2019. As of the year 2020, she has an estimated net worth of $4.6 billion.

    Kiran Mazumdar is the executive chairperson and the founder of one of the most prominent biopharmaceutical companies around the globe, Biocon Limited. Kiran is a person who is an inspiration to thousands of women out there who are aspiring to become entrepreneurs. Read Kiran Mazumdar Shaw’s Success Story and know more about the journey of this amazing and inspiring woman.

    Kiran Mazumdar Shaw – Biography

    Name Kiran Mazumdar-Shaw
    Year of Birth 23 March 1953
    Nationality Indian
    Education Graduate degree in brewing from the University of Ballarat, Melbourne
    Profession Entrepreneur, Brewmaster
    Title Executive Chairperson – Biocon Limited and Biocon Biologics Limited
    Net Worth 370 crores USD
    Spouse John Shaw

    Kiran Mazumdar Shaw – Personal Life
    Kiran Mazumdar Shaw – Education
    Kiran Mazumdar Shaw – Professional Life & Career
    Kiran Mazumdar Shaw – Founder of Biocon
    Kiran Mazumdar Shaw – Expansion of Biocon
    Kiran Mazumdar Shaw – Board Memberships
    Kiran Mazumdar Shaw – Challenges Faced in Entrepreneurship
    Kiran Mazumdar Shaw – Success story
    Kiran Mazumdar Shaw – Philanthropy
    Kiran Mazumdar Shaw – Awards & Recognitions

    Kiran Mazumdar Shaw Success Story

    Kiran Mazumdar Shaw – Personal Life

    Kiran Mazumdar-Shaw and John Shaw
    Kiran Mazumdar-Shaw and John Shaw

    Kiran Mazumdar-Shaw was born to Gujarati parents in Banglore on 23rd March 1953, in a middle-class family. Her father, Rasendra Mazumdar was the head brewmaster at United Breweries.

    Since childhood, she aspired to become a doctor but couldn’t get a scholarship. In 1974, she was the only girl pursuing brewery course and topped in her class. At the age of 44, Kiran got married to John Shaw in the year 1989. John was working as the chairman at Madura Coats but left the job to join Biocon with Kiran. John Shaw is serving as the Vice Chairman of Biocon since 2001.

    Kiran Mazumdar Shaw – Education

    Kiran initially wanted to follow in her father’s footsteps. She studied at Bangalore’s Bishop Cotton Girl’s high school.

    She then took a pre-university course from an affiliate of Bangalore University, Mount Carmel College. She further graduated with a bachelor’s degree in zoology from Bangalore University in 1973.

    Kiran wanted to pursue medical college but was unable to get any scholarship in any medical college. Her father then suggested to pursue fermentation science and get trained as a brewmaster, which is a very non-traditional field for women. She went to Ballarat College, Melbourne University in Australia to study malting and brewing. She earned her degree of master brewer in 1975. Kiran Shaw was the only woman who opted for the brewing course and with her intelligence, she topped in her class.

    Kiran Mazumdar Shaw – Professional Life & Career

    Kiran Mazumdar-Shaw with Leslie Auchincloss
    Kiran Mazumdar-Shaw with Leslie Auchincloss

    Kiran started her professional career from Carlton and United Breweries, Melbourne, where she worked as a trainee brewer. Kiran Mazumdar completed her training in Carlton and United Breweries. She also worked at Barrett Brothers and Burston, Australia, as a trainee maltster.

    After coming back to India, she joined Jupiter Breweries in Calcutta as a technical consultant, and after gaining some experience there she worked as a Technical Manager at Standard Maltings Corporation situated in Baroda. She opted to further her career in Bangalore or Delhi but was told that “it’s a man’s profession” and that woman would not be employed as a master brewer in India.

    She started looking for work overseas and was given a position in Scotland. Leslie Auchincloss, the founder of Biocon Biochemicals Limited, of Cork, Ireland met Mazumdar before she could relocate. His firm produced enzymes used in the brewing, food packaging, and textile sectors.

    He was searching for an Indian entrepreneur to assist in the formation of a subsidiary in India. Kiran worked with the firm, and this was a life-changing opportunity for her. Leslie prepared her to work as a manager at his firm. Kiran went to India and began working for Biocon in a leased garage in Bangalore with an initial investment of 10,000 INR after she had a better understanding of the company’s operations and sales.

    Kiran Mazumdar Shaw – Founder of Biocon

    Kiran Mazumdar Shaw Founded Biocon Logo
    Kiran Mazumdar Shaw Founded Biocon Logo

    Kiran started with Biocon in 1978, she faced many challenges because of her youth, gender, and her untested business model. No bank wanted to lend her money, thus funding was a big issue.

    After getting her first funding she started with her first factory which was in a nearby 3000 sq. ft shed. The extraction of papain (a papaya enzyme used to tenderize the meat) and isinglass were the company’s first efforts (obtained from tropical catfish and used to clarify beer).

    Biocon India was the first Indian firm to make enzymes and ship them to the United States and Europe within a year of its founding. Kiran invested her first year’s profits in a 20-acre property, with plans to grow in the future. Kiran transformed Biocon India from an enzyme manufacturing firm to a fully integrated biopharmaceutical company because of her unique thinking and ideas.

    In 1984 Kiran discovered some new dimensions. At Biocon, a research and development team was created to focus on the development of innovative solid substrate fermentation methods. Biocon Pharmaceuticals was the first Indian biotech business to obtain funding from the United States for unique technology.

    Kiran started looking for alternative opportunities which were cost-effective as well low-cost. She had also proposed that drug companies be cost-sensitive in marketing to developing countries so that people can afford the drugs they need.

    Kiran and her husband John have always seen the need to provide people with the best they can, thus increasing and supplying affordable vaccines and medicines in India and helping society to overcome their medical requirements.

    Kiran Mazumdar Shaw – Expansion of Biocon

    Biocon Subsidiaries
    Biocon Subsidiaries

    She managed to establish two subsidiaries of Biocon including, Syngene in 1994 and Clinigene in 2000. Syngene provided a contractual basis early research and development support service while Clinigene focused on clinical research trials and the development of both generic and new medicines. Clinigene was later merged in Syngene and it has a current market cap of Rs.14,270.

    She incorporated Biocon Biopharmaceuticals Private Limited (BBLP) in 1990 to manufacture and market a select range of biotherapeutics in a joint venture with the Cuban Center of Molecular Immunology.

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    Kiran Mazumdar Shaw – Board Memberships

    She is a member of the board of governors of the Indian School of Business and a term member of on the board of MIT, USA till 2023. She has been a former member of the Indian Institute of Technology Hyderabad. She was the first woman to head the board of governors of the Indian Institute of Management Bangalore (IIMB).

    She is an independent director on the board of Infosys. She is a member of the General Body of Maharashtra State Innovation Society. She is also a member of the advisory board of the MIT Jameel Clinic.

    Kiran Mazumdar Shaw – Challenges Faced in Entrepreneurship

    She started with a seed capital of Rs.10,000. Inspite of being a joint venture, Indian laws restricted foreign ownership to only 30% of the company. Thus, 70% of the company belonged to Kiran Mazumdar Shaw.

    She faced reliability challenges because of her youth, gender, and untested business model. She was unable to secure funding for her company initially. She tried hard and finally got her first financial backing. She also struggled while recruiting people to work for her startup. She had to face technological changes with an eye to building a biotech business in India, which was then having a poor infrastructure.

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    Kiran Mazumdar Shaw – Success story

    Kiran met Leslie Auchincloss, who is the founder of Biocon Biochemicals Limited, of Cork, Ireland. The aforesaid company produces enzymes to be used in brewing, food packaging, and textile industries. Auchincloss was desperately looking for an entrepreneur in India, who would help her in establishing an Indian subsidiary of Biocon.

    Kiran agreed to undertake the offer on a condition that if she did not wish to continue post six months, she would be given the position of brewmaster. She started working as a trainee manager at Biocon Limited, Cork, Ireland to learn more of the business. Post the training period, she returned India to establish the business.

    In 1989, Biocon Biochemicals of Ireland was acquired from Leslie Auchincloss by Hindustan Unilever. The partnership with Unilever helped Biocon to establish best practices and quality systems across the world. Unilever then sold its chemical division including Biocon to Imperial Chemical Industries (ICI). Her husband, John Shaw invested $2 million to purchase the shares of Biocon from ICI.

    Kiran Mazumdar Shaw – Philanthropy

    Kiran Mazumdar-Shaw The Giving Pledge
    Kiran Mazumdar-Shaw The Giving Pledge

    With the great success of her company, Biocon has allowed Kiran to donate and be the support of the people who need help but do not have the resources. Kiran is a firm believer in sharing and cares about people hence giving at least half of her wealth to philanthropic work. This was when she joined The Giving Pledge movement in the year 2015.  

    With the support of her husband John, she started up with Mazumdar Shaw Foundation in India to help the needful. The key sectors of the foundation are Education, Healthcare, Art & Culture, and a Healthy Environment. The Foundation is involved in numerous health and education outreach programs to benefit the economically weaker sections of Indian society.

    Mazumdar Shaw Medical Center
    Mazumdar Shaw Medical Center

    Mazumdar Shaw foundation has also established a 1400 bed cancer care center in Bangalore, in collaboration with Devi Shetty. Her goal is to create a world-class cancer center with affordable treatment.

    Kiran Mazumdar Shaw – Awards & Recognitions

    Kiran Mazumdar honoured by the Government of India
    Kiran Mazumdar honoured by the Government of India

    Kiran Mazumdar has been awarded several times for her leadership and  success in entrepreneurship.

    • She has been Conferred with the Bombay Management Association (BMA) Business Leader of The Decade Award in 2022.
    • She has been awarded with the “Spirit of TiE – Trailblazers Award” by TiE Bangalore on World Entrepreneurs Day in 2021.
    • Biocon has been recognized among the Top 20 in the The Medicine Maker Power List 2019 under the Business Captains category in 2019.
    • Kiran has received Padma Shri in the year 1989 and Padma Bhushan in the year 2005.
    • Recipient of EY World Entrepreneur of the Year (2020) and EY Entrepreneur of the Year India Award (2019).
    • Recipient of Order of Australia (2020).
    • Recipient of ICMR’s Lifetime Achievement Award for Outstanding Achievement in Healthcare (2019).
    • Recipient of AWSM Award for Excellence (2017).
    • Knight of the National Order of the French Legion of Honour (2016).
    • Recipient of Othmer Gold Medal (2014).
    • Recipient of Global Economy Prize for Business (2014).
    • Ranked among the world’s 16 Most Powerful Women in Leadership in 2021 by CEO Magazine.

    Kiran is also fond of writing books and she loves reading novels. She has written and has got published two books: ‘Ale and Arty’ and ‘India’s Innovation Challenge for Inclusive Development.

    Conclusion

    The second richest self-made woman in India is the star and pride of the nation. Nobody knew about Kiran Mazumdar-Shaw but now she is one of the most influential women in the country. She has shown the world that a woman can do everything and is a living inspiration for young woman entrepreneurs.

    FAQs

    Who is the husband of Kiran Mazumdar-Shaw?

    Kiran Mazumdar-Shaw is married to John Shaw.

    How old is Kiran Mazumdar-Shaw?

    Kiran Mazumdar-Shaw was born on 23 March 1953 and is 69 years old (2022).

    What is the net worth of Kiran Mazumdar-Shaw?

    Kiran Mazumdar-Shaw has a net worth of  $370 crores as of 2022.

    What is Kiran Mazumdar-Shaw’s education?

    Kiran Mazumdar-Shaw has done bachelor’s degree in zoology from Bangalore University in 1973 and earned a degree as master brewer in 1975 from Melbourne University in Australia.

  • Everything about Mudra Loans | How to Apply for Mudra Loan?

    The increase of startups and the interest of young entrepreneurs to start their businesses has led to many schemes introduced by the Government of the country. Several opportunities are given, to pursue the dream of being an entrepreneur to the interested people. Out of so many schemes, one of them is Mudra Loan.

    Mudra loan or the Pradhan Mantri Mudra Yojana (PMMY) scheme was launched in 2015 by the Prime Minister of India. MUDRA, which is short for Micro Units Development and Refinance Agency, provides loans up to Rs. 10 Lakh to the non-corporate and non-farming small and micro-enterprises. This also includes enterprises involving allied agricultural activities.

    It is known globally that Indians have a great creative and innovative mind, however the majority of them are unable to convert these ideas into profitable businesses due to financial reasons. This is common in almost all the different sections of society. PMMY was mainly to encourage everyone to try and implement their ideas.

    What is Mudra Loan?

    In 2013, it was found that there were around 5.77 crore micro and small enterprises in India and about 60% of these were owned by backward classes. These units cannot be covered by the formal loan lending sectors. This means that they might have to depend on informal lending sectors which can lead to a lot of issues or manage with their own funds. The Mudra Loan scheme is to support young, budding entrepreneurs and also existing businesses to expand and experiment with their ideas. This is much more secure and the rate of interest is not very high.

    The Schemes Under Mudra Loans

    Mudra loans have several schemes under them and they are:

    Shishu

    This is when the amount required by the borrower is less than INR 50,000. This is usually given to entrepreneurs in their early stages. This is basically a working capital term loan. There are a few things that are checked in this case. The checklist here includes the Machinery quotations and the details. The machine details have to be provided perfectly well. The borrower should also provide all the details that the banks ask for. This might include the details of the supplier. This is basically for startups.

    Kishor

    This covers loans from INR 50,001 to 5,00,000. This is not for beginners but already established businesses when they want to expand their business operations. In this case, they might require tax returns. The lender needs to know all the details of the company. It is also required to submit the balance sheet for the last 2 years, the estimated balance sheet for 1 year, MOA and AOA, and the sales made before the company applied for the loan in the Financial year.

    Tarun

    This is another scheme that covers loans from INR 5,00,001 to 10,00,000. This is when the business owner meets certain preset conditions. The required documents and details are similar to that of Kishor but there are a few other proofs that are to be included. This includes the caste certificate, Address proof, Identity proof, and other essential documents. The loans are approved only if all the documents are perfect and none of the documents is missing or faked.

    Who Can Borrow Mudra Loans?

    Mudra Loan Schemes encourage women
    Mudra Loan Schemes encourage women

    There are various enterprises that can borrow under the Mudra loans scheme. This includes individual business entities, partnership firms, public companies, private companies, Proprietary firms and so on. Also, to be eligible to borrow this, the applicant should have a proper credit track record. The proposed activity is properly studied and based on that, the lender might ask for educational qualifications and other basic requirements.

    The borrower will be eligible if he submits all the documents and has all the basic requirements listed by this scheme.

    Sectors Covered Under Mudra Loans

    • Food product sectors
    • Textile
    • Transport and transport activities
    • Community, personal service and social activities.
    • Activities allied to farming and agriculture.
    • Finance for the equipment in micro-units.
    • Business loans for shopkeepers.

    Features and Benefits of Mudra Loans

    The key benefit of this scheme for borrowers is that they do not need to show collateral or security. Also, there is no processing fee for this. Also, there is no minimum amount that you need to borrow. It can be used for various purposes like expansion, modernization, machine purchase, renovation, etc. There is no processing fee involved. Only in the case of the Tarun loan, 0.5% of the loan amount is charged as the processing fee. Mudra loan can also be availed online and the repayment period lies between 3 and 5 years, depending on various factors. The interest percentage for Shishu is nil and for the other 2, it is 10%. Also, the age of the borrower must be above 18 and below 65 years to avail of Mudra loans.

    Steps To Apply For Mudra Loans

    It is very easy to apply for Mudra loans. You have to have all the necessary documents.

    • Step 1: Check what are the documents necessary for the amount you need and keep all the documents ready.
    • Step 2: Approach a financial institution. This loan is available in almost all renowned financial institutions. You can approach any one of them or even check their website out for details. Make sure to check if the financial institution is registered under the Mudra scheme.
    • Step 3: The next step is to fill out the application form carefully. Almost all the details like personal and business details. The documents have to be attached. Mention the amount you might need. There are different forms for Shishu, Kishore and Tarun. Choose the right form and keep the documents in hand while filling out the form.
    • Step 4: Wait for approval. Once the loan is approved, you will receive the Mudra card. You can use the card to draw the money you need.

    This is the set process in almost all approved financial institutions. It is safe and secure.

    Conclusion

    Small businesses and entrepreneurs can go for a Mudra loan as it is easy to get approved and also it will help them get the first capital for their company. Since there is no collateral or security required, it can be availed by anyone satisfying the criteria. This serves as an encouragement for youngsters with an idea to get basic funding for their business idea and hence they will be able to put their idea into practice. This is available in various institutions and also can be dealt with online. This makes the entire process much easier than it is. The only major criteria are that all the documents to be submitted must be perfect and the borrower should be within the specified age limit.

    FAQs

    Who introduced Mudra Loan?

    Prime Minister Narendra Modi introduced the Mudra loan.

    When was Mudra Yojana announced?

    The Mudra Yojana was announced on 8th April 2015.

    How much loan is provided by Mudra Yojana?

    Mudra Yojana provides loans of up to INR 10 Lakhs to borrowers.

  • A Complete Guide to Become a Successful Techpreneur

    An entrepreneur is an individual who recognizes an opportunity, converts it into a product or service, determines receipts and profit, and produces a successful business with it. Now, the world is ruled by technology, and a new form of entrepreneurs has shown their ability to the world, they are known as techpreneurs.

    A techpreneur starts with nothing but a concept. They challenge ongoing practices and systems and think of doing things creatively. They design a product or solution that uses the heft and capability of technology to improve the way something was traditionally done. They succeeded admirably. To be a techpreneur, certain skills are needed.

    In this article, we will talk about the tips to be a successful technopreneur. So, let’s get right into the business.

    Why Techpreneur Is the New Breed of Entrepreneurship?
    Basic Techpreneural Skills
    Tips to Become a Successful Techpreneur

    Why Techpreneur Is the New Breed of Entrepreneurship?

    Technopreneurship is a new class of entrepreneurship. It involves the development together of people who are driven, creative, tech-savvy, passionate, and has a desire for calculated risk. Unlike entrepreneurship– the success of Technopreneurship connects to how well the team functions together.
    Technopreneurship is a costly exercise. It is not usually simple, and they have to endure, direct, and motivate their team, seek people with the funds, pitch their idea, and make them join organizations. It is here that their past work experience and network become beneficial.

    Basic Techpreneural Skills

    In addition to the entrepreneurial skills to be a successful technopreneur, some additional skills are required.

    Full Tech Stack Knowledge

    The tech stack is all the technologies utilized to deliver your commodity. While this can vary moderately based on the requirements of the startup, it usually means everything from a strong understanding of how the internet runs, to server technologies, scale factors, website knowledge, analytics, and code container administration — to name the primary points. Techpreneurs add exceptional value to the startup by assisting choose the beginning tech stack to be used to stand up the products.

    Web Development

    Each startup is going to require a web port of some kind. Whether the startup is going to launch e-commerce solutions, mobile applications, or some hardware-based output — being able to manage the website is a crucial job.
    Startups tend to pay an immense amount of time on content, branding, and presentation of their sites. Technopreneurs can take this main project, and handle it while saving money and allowing other members to focus on their duties (thereby improving efficiency for the whole team).

    Industry-Specific Technologies

    Each tech startup has its novel technologies that they are going to be using. Depending upon the trade, there tends to be some specific tech that needs to be known so the product is produced in a way that consumers can use the final product. The best technopreneur for a startup will know the industry-specific technologies that the goods will have to work with and help make crucial decisions on the front end of product development.

    Tips to Become a Successful Techpreneur

    Interestingly though, successful techpreneurs across the business do share some characteristics and some best methods. Of those, some of the tips that are considered necessary to become a successful technopreneur are mentioned below.

    Persistence

    Techpreneur requires to be persistent. Every great idea will have simple beginnings, but it is only possible by unwaveringly seeking an idea and fleshing it out regularly that can one hope to actuate and convert it into a finished product. No matter how tough this route may appear, one needs to stay true to it. Having a positive attitude irrespective of the situation eases harvesting tools to take on the challenges.

    Tech Savvy

    Good techpreneurs need to have a broad technical grasp of their product and the underlying technology included. Even though it is usually the subject matter experts who will be developing the technology for the product, it will be your thought and understanding that will finally guide them.

    Intuitive

    A techpreneur should trust their intuition. To be successful, a techpreneur should be able to intuitively imagine and harvest unseen opportunities in such situations where the rest of the world only sees obstacles. Look beyond the obstacles and try to decipher what can be used for your business.

    Belief

    Firmly believe in your product. Be very clear about what unmet need you are striving to address. And be ready to step into uncharted areas to bring your product to life and make it grow. Having a risk-taking mindset assists techpreneurs well.

    Communication

    It is essential for a techpreneur to clearly and precisely communicate the intended value proposals to all stakeholders – the target clients, the investors, and the employees. Good communication saves time, effort, and money. Not only must one regularly communicate with people looking to invest and vet your concept, but also with your team looking to grasp at the more specific aspects of your product and achieve your vision.

    Resilience with Flexibility

    Experiencing failures is a part of entrepreneurship. There are so many inherent uncertainties that some setbacks are usually unavoidable. It is important is to learn from such experiences and take all measures not to replicate them. Overwhelmingly difficult situations do arise, and in such circumstances, it will be necessary to keep patience and self-control.

    The Right Team

    The team is fundamental to the success of the idea. Companies and corporations fall untimely losses by having unwise recruitment and team-building strategies. A techpreneur must invariably centre on building a team of experienced and hard-working people having complementary skills. The team members should have faith in the vision and capabilities of the techpreneur and should be willing to work for the greater good.

    Quality

    A successful techpreneur needs to guarantee that the products and services are of good quality. Also, they must be better than their competitors. Identify that consumers buy a product when they see value in it, which is only possible when the product offers more than what they pay for it.

    Conclusion

    Becoming a techpreneur demands constant dedication and hard work.
    Despite the qualities and abilities, what many ambitious techpreneurs hardly realize is that becoming a techpreneur is not an end in itself. It is the beginning of an experience and a journey to savour and relish.

    FAQs

    Who is a techpreneur?

    A techpreneur is an entrepreneur who starts and manages their own technology business.

    What are the skills needed to become a technopreneur?

    • Persistence
    • Tech Savvy
    • Intuitive
    • Belief
    • Communication
    • Resilience with Flexibility
    • Quality
    • The Right team

    Who is the No.1 entrepreneur in India?

    Mukhesh Ambani is said to be the No.1 entrepreneur in India.

  • Top 11 Digital Entrepreneurs in India | Youngest Digital Entrepreneurs

    With the evolving digital platforms, the world is growing as well. And so the business industries, several startups and established businesses are shifting completely to digitalization.

    Digital media is providing all kinds of features and facilities for businesses to develop enormously. In fact, many business owners have made digital their business. And these are growing with an exponential graph of success. Therefore, such entrepreneurs are termed as digitalpreneurs or digital entrepreneurs.

    You might be wondering, what exactly is a digital entrepreneur? A digital entrepreneur is a business owner, founder or manager who has an internet-based business such as OYO or Paytm.

    In India, there are a vast number of such digital entrepreneurs who have expertise in their field of interest and business with great graph success. India provides all kinds of facilities to its entrepreneurs to grow their businesses successfully.

    It also brings development for the country as India is growing towards the digital world with extensive manifestation. Digital entrepreneurs in India have developed some great online platforms that have been proven absolutely promising and convenient to use.

    Through this article, we present you with those top digital entrepreneurs who have been a great example to the young generation and are extremely successful. Let’s get started!

    List of Successful Digital Entrepreneurs in India

    1. Byju Raveendran
    2. Shradha Sharma
    3. Ritesh Agarwal
    4. Vijay Shekhar Sharma

    List of Youngest Digital Entrepreneurs in India

    1. Shravan and Sanjay Kumaran

    Top 5 Tips To Become A Successful Digital Entrepreneur

    Byju Raveendran

    Digital Entrepreneur Byju Raveendran - BYJU'S Founder
    Digital Entrepreneur Byju Raveendran – BYJU’S Founder

    Founder of BYJU’S study app, Byju Raveendran is well known for his tremendous work that is helping millions of students. He is one of the youngest billionaires in India. He launched BYJU’S app in 2015 and within 2 months, it reached millions of students who downloaded it.

    BYJU’s current value is worth $5.7 billion. Its EdTech company is established in Bengaluru and is considered as the top-notch learning and thinking platform for millions of students. In fact, it has been rated with the “Best Self-Improvement” app in 2016, on Google Play Store.

    Shradha Sharma

    Digital Entrepreneur Shradha Shrama - Yourstory Founder
    Digital Entrepreneur Shradha Sharma – Yourstory Founder

    Shradha is a very well-known digital entrepreneur of India. Shradha Sharma is the founder and Chief Editor of Yourstory.com. It is a startup media platform that brings the stories of startups, entrepreneurs, change-makers, funding analysis and resource pieces.

    Yourstory media has been an absolute success which has around 20,000 stories based on entrepreneurs and tons of several other matters. It provides the facilities to read any story in 12 different languages. Moreover, it has reached more than 10 million readers daily who find this online platform very considerate and interesting.

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    Ritesh Agarwal

    Digital Entrepreneur Ritesh Agarwal - Founder of OYO Rooms
    Digital Entrepreneur Ritesh Agarwal – Founder of OYO Rooms

    The well-known personality, Ritesh Agarwal is the founder and CEO of OYO Rooms. OYO rooms are widely famous around India for their incredible service of booking the top branded hotels online or offline. Ritesh Agarwal is a digital entrepreneur who started his journey at just the age of 16 years and now ruling a business worth millions.

    He travelled all the fractions of the country with a budget plan settlement. This gave him the idea to build such a platform that would provide the facility to book any hotel at affordable rates. OYO Rooms is one of the fastest-growing online platforms in India.

    Vijay Shekhar Sharma

    Vijay Shekhar Sharma - Founder of Paytm
    Vijay Shekhar Sharma – Founder of Paytm

    Vijay Shekhar Sharma, the founder of a very famous digital payment company, Paytm. Vijay Shekhar Sharma with a net worth of $2.1 billion, was included in the list of the youngest billionaires of India by Forbes.

    Paytm is considered one of the most promising and convenient digital payment platforms. Along with the Paytm app, Vijay Shekhar Sharma also developed Paytm Mall, Paytm payment bank, and e-commerce business.

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    Everyone knows that being an entrepreneur is not easy. But, everyone thinks ofbecoming one with their “One in a million” idea. Everyone thinks that “this issomething no one has ever done”. Everyone has a unique business idea, but thereare very, very few people who really give it a try. It doesn’t…
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    Shravan and Sanjay Kumaran

    Youngest Digital Entrepreneur Sanjay and Shravan Kumaran - Founder of GoDimensions
    Youngest Digital Entrepreneur Sanjay and Shravan Kumaran – Founder of GoDimensions

    The youngest Indian entrepreneurs, Shravan and Sanjay are siblings merely of age 17 and 15 respectively. Together they built the mind-blowing digital platform, GoDimensions. Shravan and Sanjay are the youngest digital entrepreneurs of India.

    GoDimensions are aimed to achieve the simplest and most convenient technical antidotes for digital media. Once in an interview, Shravan and Sanjay were asked about the reasons behind their success, they respond, “Reading a huge number of books and solving the problems that come on the way.”

    This sibling developed the mind-blowing application for both Android and iOS.

    Conclusion

    There are plenty of entrepreneurs who have been brilliant and successful on digital platforms. Before you decide to initiate your startup, take a step hold and look for the business models of such successful entrepreneurs mentioned above.

    They have contributed majorly to the successful growth of digital media. The digital platform has taken over almost all our essentials from traditional media to stores. It has given digital a new outlook which is tremendously popular. These experts would provide you with the best business idea for your startup to make it a success.

    FAQs

    Who is an entrepreneur?

    An entrepreneur is an individual who sets up a new business by taking a risk in order to make money.

    Who is a digital entrepreneur?

    A digital entrepreneur is one who works in the digital media space and makes his living by selling digital media or downloads. In other words, a digital entrepreneur is anyone who works online in the digital environment.

    What is the job of digital entrepreneur?

    A digital entrepreneur job is to utilise the reach and power of the internet to offer products or services for profit.

    How do you become a digital entrepreneur?

    • Learn digital marketing skills – Search Engine Optimisation (SEO), Search Engine Marketing (SEM) and Social Media Marketing (SMM).
    • Once you learn these skills, you can freelance in these fields.
    • You can start a digital marketing service or build products.
    • You can also become a social media influencer.
    • Start any services or products that you can offer virtually.

    What are the 4 types of entrepreneurs?

    The four types of entrepreneurs:

    • Coasting, opportunity comes to them (or it doesn’t)
    • Conservative (very moderate use of resources, protecting existing resources)
    • Aggressive (proactive, all-in, actively seeks opportunity)
    • Innovator/Revolutionary (attains growth through innovation)

    Who is the youngest digital entrepreneur?

    Jeevan Tiwari is India’s youngest digital entrepreneur and is also the youngest millionaire in India.

    Who are most successful businessman in India?

    Some of the most successful businessmen in India are:

    • Mukesh Ambani
    • Gautam Adani
    • Azim Premji
    • Ratan Tata
    • Lakshmi Niwas Mittal

    Who is the richest entrepreneur in world?

    Jeff Bezos, the founder of Amazon is one of the richest entrepreneurs in the world with an estimated net worth of $131 Billion.

  • 8 Valuable Tips for New Entrepreneurs

    We are living today in the age of the “new“, whether it is the innovative ideas, new ventures, or startups that the new-age entrepreneurs are bringing forth. A boom of ideas means an overpopulation of startups, and we are standing amidst a galaxy of startups already in India and abroad. Though these startups may seem many, only some actually manage to stand the test of time and a lot of it depends on the founder of the startup or the entrepreneur whose brainchild the startup is.

    An entrepreneur today needs to be alert, updated, know the market, and look into the future demands to mention the basics. Along with them, numerous other tips would help an entrepreneur stand out, and their startup, thrive. So, if you are an entrepreneur and you are eager to get an edge on the others in the space including other experienced entrepreneurs and rivals, then you can keep this StartupTalky article handy. This is because here you will be learning about 8 effective tips that will benefit you as an entrepreneur.

    There are many entrepreneurs in our Facebook group (StartupTalky). Some are successful, some are in their struggling stage and some are just learning before implementing. In the group, we often ask people to give tips they learned about startups. We believe that every person on this planet has something unique to teach us. So, here are some tips from those entrepreneurs and we are sure, you can learn something from them. It’s always huge to hear from successful and experienced people who are in the same field. So, check this article out to discover some of the most valuable tips for entrepreneurs.  

    Tips For New Entrepreneurs

    Find Clients Before Launching
    Design Matters
    Boost Your Focus
    Track Consumer’s Psycho-graphics
    Keep Interacting
    Stay Charged-up
    Rate Values
    Collaborate

    Find Clients Before Launching

    This is very unique advice but a very important one for developers. Before launching or even making a product, you should approach people and ask them if they need your product and are they willing to pay for it? Try asking them online if not offline. You can go to Facebook groups and many other forums. Knowledge about your target audience is a very crucial piece of information before launching any product.

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    Design Matters

    People are not attracted by the features of your product at the very first, but the first thing which attracts them is the appearance. So, focus on the looks. Try hiring a freelancer if you are not very creative in designs. Later you will be glad that you made this small investment in hiring a freelancer or professional for this purpose.

    Boost Your Focus

    Many times when we try to focus on our work, our brain starts thinking things like, will Avengers return? Or your brain just starts playing songs in the subconscious mind. So, to trick your mind and boost your focus and productivity, you can play Binaural beats in the alpha frequencies. They will make you focus more on the task. Or, you can play the video embedded with this point to find it out for yourself.

    Track Consumer’s Psycho-graphics

    You can study and research the customer’s data. Find out what they like, when do they buy or why do they buy it? This data will help you to make a better decision about your product. This will help you to create an effective and better marketing strategy. To get this data, you can directly ask the consumer or conduct surveys on websites or blogs. Online surveys can also be conducted through common social media platforms such as WhatsApp, Facebook, Twitter or Instagram.

    Keep Interacting

    There is no substitute for real interaction. You cannot buy an AI system to do that. Real interaction helps you to build trust and goodwill with the customer. It also helps in staying updated about the customer’s choices and preferences. However, you don’t always have to meet your customer to interact, you can be active on Social Media too and stay connected with them through common online platforms. Try going live on your page. Or reply to the comments. Try to answer messages related to any query. This helps build a connection between you and your customer and builds a sense of trust in them.

    Stay Charged-up

    You don’t always have to work hard and keep working. Some fun between work is also important. You can have some fun with your team. Although too much fun is informal and not good for the company, you have to balance everything. Try going for a short weekend vacation with your team. Or just get them some gifts. Also, don’t forget to wish and motivate them in the morning. Celebrate good performances and results together. Doing all of these massively boosts the motivation of your team, which will ultimately help you in achieving better results.

    Rate Values

    You must have heard when a legend said: “If you are good at something, never do it for free”. No? Then you are missing one of the most amazing movies in history. Anyway, if you think your product or service is good enough, then never deliver it for free. And it works vice versa. If you want really good service, never expect it for free. Even if you have found a free substitute, then always remember, a substitute is always a substitute.

    Tools to Boost Team Collaboration
    The ability to collaborate is important. Teams want to be able to contact one another to discuss the shared work that’s taking place within your product.
    StartupTalkyRishabh Rathi

    Collaborate

    Whenever you get a chance to collaborate with someone, never miss the chance. Collaborations are a great channel of Marketing. People will check you out if you collaborate with someone. It not only works on YouTube or Blogging or Social Media but on any type of business too. Ever wondered why some company gives free products like “Buy 2 Britannia bread and get a Parle biscuit pack”. This is all just to promote the product. Companies collaborate in this way and make people test the product while making a profit. Try doing it.

    Conclusion

    These were some tricks which were discussed in the comments of the posts on the page of Startup Talky. You can try these tricks out. These were not from very big entrepreneurs, but from those people who are still on their journey of a startup. That is why they make sense as they are tested by those people. If they don’t benefit you, they will not harm you either.

    FAQs

    Effective tips to benefit New Entrepreneurs

    Find Clients Before Launching
    Design Matters
    Boost Your Focus
    Track Consumer’s Psycho-graphics
    Keep Interacting
    Stay Charged-up
    Rate Values
    Collaborate

    Bill Gate’s advice to New Entrepreneurs

    “If you don’t build your dream, someone else will hire you to build theirs.”

    Elon Musk’s advice to New Entrepreneurs

    “You’ve got to do all sorts of jobs and tasks that you might not wish to do, that are not intrinsically interesting to you, You’ve got to be prepared to do whatever it takes, work whatever hours. No task is too menial. I think that’s the right attitude for the CEO of a startup.”

  • 13 Common Mistakes That Startup Founders Make in Their Business

    ‘Money can solve anything’- this is the first thought that comes to the mind of most of the startup founders. The startup founders live in the biggest myth of life that, once they have funds for the business, their startup will automatically run. This is the biggest lie and one of the common mistakes that startup founders make and that has ruined many great startup plans. The seed funding is the first step in the path of a successful startup, but never assume it as a final destination, because the road is very long after this. Launching a new startup is like a raising baby. After the launch of the startup, comes the biggest responsibility. You need to plan the whole life of your baby and provide everything to them. So just like it, after getting the initial investment, planning and using it properly to boost the startup is important

    When you are beginning with your startups, with all your excitement and passion, the only thing that you want to concentrate on is how to become successful. You do every possible thing to achieve your dreams but being an entrepreneur is not an easy job. One needs to burn their midnight oil for that. While being an entrepreneur, there are mistakes one can make which may disrupt the process of reaching the top.

    Numerous startup founders fail to manage it after the seeding step, as they had utilized their all energy in getting the funding. The startups usually fail because they fail to deliver their promises and fail to manage their team. These are the two major reasons behind the downfall of many startups. However, they are not only mistakes made by the startup founders, there are many other common mistakes that startup founders make in the bucket. I have rounded up a few mistakes that you need to avoid at any cost to be successful. In this article, we will talk about the Common mistakes that Startup Founders make in their businesses.

    Overthinking and Underthinking
    Wrong Investments
    Poor Planning
    Incorrect Estimations
    Decision Making
    Hiring
    Being Organised
    Avoiding Suggestions
    Neglecting Budget
    Marketing
    Confusion
    Forgetting About Bookkeeping
    Unwanted Expenses

    Overthinking and Underthinking

    Thoughts should be big and the start should be small. Overthinking in terms of business may affect the revenue and process of work, plus it doesn’t help you in reaching a conclusion or solution to your problem. Instead, it leads to the creation of problems that are not even there in reality. Decisions should not be risky and should be taken after thinking and evaluating the entire situation properly but too much overthinking can lead to a missed opportunity.

    On the other hand, underthinking any situation is also one of the main causes that may affect the business. One needs to dwell deeper, when there is a need, rational thinking is needed so that effective leadership can be formed.

    “Take time to deliberate, but when the time for action comes, stop thinking and go in” – Napoléon Bonaparte

    Wrong Investments

    In terms of startups and new entrepreneurs, investment is quite a big concern. Be aware of your expenses and savings. Higher Investments in a product without assuming the demand may damage the economy. Investments should be made after analysing the demand for the product.

    Poor Planning

    Everything needs a plan, especially when you are starting a new business, planning becomes mandatory. The plan will guide you through every stage, it is like the GPS that will take you to your ultimate destination. However, wrong planning can create havoc in your dream business. Rough ideas for saving money should not be encouraged, it can cost you your dreams. Pre-planning for saving money should be made keeping the situation in mind be aware of your target audience and concentrate on making products and services according to them.

    Incorrect Estimations

    Estimations of cost should be appropriate. Underestimating the order for developing the business may lead to loss of money and affect the financial state of the company. Thoughts should be appropriate to the situations which include time, surroundings and environment of the market. Always estimate the value higher than that of the original price to keep any sudden expenses in check.

    Decision Making

    While taking decisions entrepreneurs should take care of the situations they face. One wrong decision can lead to the death of your dream startup. The decision should not be risky and made at the right time. Taking risky decisions at the beginning stage should be avoided in order for better growth.

    Hiring

    The hiring of the staff should be less during the initial stages. A huge number of staffs in the starting point with less amount of work will cause a crisis at the time of salaries. Hiring a fulltime staff when a part-time can do the job perfectly is unnecessary.

    “It’s expensive to hire the wrong people. If they leave it’s expensive. If they stay it’s expensive.”― Nathan Mellor

    Being Organised

    Avoid being unorganized. You have to follow a procedure in order to make your startup work. Have your plan and goals sorted in your mind. Jot down on paper your list of priorities in order to stick to the plan. Maintain an organised format for all you want to accomplish. When you begin with a startup, a number of things happen at a time, so listing them according to your priority and then finishing them is the best you could do.

    Avoiding Suggestions

    Don’t avoid suggestions and decisions that people give. Learning from the experts always helps to avoid some loops in the field of A particular business. a person with experience can definitely be of your help if you decide to listen to them. The words of the peers should be paid heed to.

    Neglecting Budget

    Maintaining the budget should not be neglected. Planning on the budget in order to avoid spending extravagantly is required. The budget should be maintained for growth and development. Budget planning should be made locally so that it helps us to maintain the economic growth of the business. High budget tenders should not be encouraged.

    Marketing

    Marketing of the business should not be neglected, it is one of the most important factors for the survival of your startup. It should be clear and sharp so that it reaches the target audience. Marketing at the starting stage should not be very elaborate as these marketing conditions affect growth. A proper marketing strategy has to be made so that your business can be visible in front of your customer and they can get attracted to it.

    Confusion

    Avoid confusion in assigning work while maintaining the budget. Confusion may lead to stress which in turn affects progress. Confusion should be avoided in terms of marketing too. It should be straight so that people can get convinced easily. Creating confusion will only be haphazard for the business.

    Forgetting About Bookkeeping

    To utilize the money properly and keep it from wastage, make the required documents and accounting records perfectly. To avoid the common mistakes that startup founders make these points to be noted. Bookkeeping is a major part of a successful business. You need to record all the expenses and incomes accounts to tally the growth of the business. You need to record all the petty and big cash expenses daily.

    Unwanted Expenses

    You do many unwanted expenses in the daily course, which can be easily avoided or can be minimized. So identify those expenses and reduce them to a minimum level. Don’t spend money on the decor of your office to attract customers, as they are here for the product. Don’t hire unwanted employees like receptionists, if you are capable of handling your own business calls and making your own coffee.

    Conclusion

    Startup founders make many mistakes after getting the seeding. While building a business, mistakes need to be avoided. Although mistakes are a part of our life and they are inevitable, it is important to avoid these mistakes that will do nothing but lead to problems in your business. Even when you make mistakes, learn from them and try to not repeat them.

    FAQs

    What causes startups to fail?

    Most startups fail due to insufficient financial resources.

    What percentage of startups fail?

    90% of startups fail in the first 5 years of the company in India.

  • List of 10 Youngest Self-made Billionaires in India

    Our India stands as the second-largest population in the world with a rapidly thriving economy over the past few decades. Before India’s Independence, agriculture played a vital role in developing the economy.

    Following the 21st century, we have witnessed numerous entrepreneurs arising in every corner of India with a motive to bring a prosperous future for Indians.

    Conscientiously, India became the third-largest in terms of real Gross Domestic Product (GDP) after the United States of America and China. Because of this fact, our entrepreneurs are the sole reason for the success of the Indian Economy, which stated that over 58.5 million entrepreneurs are there in India, of which nearly 13% are women.

    Without any background or experience, some self-made business people took the determination to create a miracle in burgeoning the economy and ultimately becoming the richest entrepreneur at a very young age.

    Youngest Self-Made Richest Entrepreneurs in India

    Nithin Kamath
    Nikhil Kamath
    Divyank Turakhia
    Ankit Bhati
    Bhavish Agarwal
    Vijay Shekar Sharma
    Binny Bansal
    Sachin Bansal
    Ritesh Agarwal
    Deepinder Goyal

    Nithin Kamath

    Net Worth – $1.5 Billion
    Founded – Zerodha
    Education – Graduation in engineering

    Nithin Kamath - Youngest Billionaire in India
    Nithin Kamath – Youngest Billionaire in India

    With an aim of breaking all barriers which are faced by investors and traders in India regarding cost, technology and support. Nithin Kamath, a Chartered Accountant (CA) took part in building a hassle-free online discount brokerage firm- Zerodha. He is the Founder as well as the CEO of Zerodha. He is mostly known for tweeting educational and informative content on social media.

    Ultimately, the company became India’s first discount brokerage firm, after it was founded in the year 2010. As of 2021, Zerodha is said to have over 5 million active clients. The net worth of Nithin Kamath is INR 14500 Crores.

    Nikhil Kamath

    Net Worth – $1.5 Billion
    Founded – Zerodha
    Education – School Dropout

    Nikhil Kamath - Youngest Billionaire in India
    Nikhil Kamath – Youngest Billionaire in India

    Nikhil Kamath is the Co-founder of India’s biggest trading platform, Zerodha. Although he dropped out of his school at a young age, he hustled and secures a job in a call centre, when he was just 17. Nikhil Kamath, after getting into trading along with his brother founded Zerodha. When he got into stock markets, he decided to start trading.

    Zerodha solves all the problems and barriers faced by traders and investors. The current net worth of Nikhil Kamath is INR 11100. Zerodha was founded by Nikhil Kamath and his brother in the year 2010. He is one of the richest self-made billionaires in India at the age of 40.

    Divyank Turakhia

    Net Worth – $1.76 Billion
    Founded – Media.net
    Education – Graduated from Narsee Monjee College of Commerce and Economics

    Divyank Turakhia - self made billionaires in India
    Divyank Turakhia – self made Billionaires in India

    Divyank Turakhia being tech-savvy, began his career in coding at the age of 8 and mastered every aspect of computer programming. He was born on 29th January 1982 and did his schooling at Arya Vidya Mandir in Bandra and holds a degree in the field of Commerce and Economics from Narsee Monjee College in Mumbai. He founded media.net and later sold it to Chinese consortium for $900 million.

    According to IIFA Wealth, He is the second richest self-made entrepreneur under 40, and his net worth is estimated to be 12,500 crores.

    Ankit Bhati

    Net Worth – $615 Million
    Founded – Ola
    Education –  IIT Bombay

    Ankit Bhati - Youngest billionaire in India
    Ankit Bhati – Youngest billionaire in India

    Ankit Bhati is the Co-founder and was the former CTO of one of India’s most popular and used ridesharing Ola Cabs. Ola Cabs was founded in the year 2010. . Recently, Ankit Bhati has launched a new SaaS startup named Amnic. The net worth of Ankit Bhati is INR 1600 Crores. With the increasing demand for ridesharing systems, Ola Cabs are one of the two ridesharing companies that are dominating the Indian market.

    Bhavish Agarwal

    Net Worth – $990 Million
    Founded – Ola
    Education – IIT Bombay

    Bhavish Agarwal – Youngest billionaire in India

    In recent times, Ola resulted in a turning point in the development of the Indian economy, where people encountered comfortable rental transport at an affordable rate. Bhavish Aggarwal commenced their idea of innovating technology-based cab services in India and started Ola and became one of the richest entrepreneurs with a net worth of close to INR 7500 Crores.

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    Vijay Shekar Sharma

    Net Worth – $1.3 Billion
    Founded – Paytm
    Education – Bachelor of Engineering from Delhi College of Engineering

    Vijay Shekhar Sharma - Youngest billionaire in India
    Vijay Shekhar Sharma – Youngest billionaire in India

    Vijay Shekhar Sharma is one of those Indian billionaire businessmen who achieved many things at such a young age. He is none other than the founder and chief executive officer of the financial technology firm, Paytm. He sold the website that he created while in college, named indiasite.net for $1 million.

    He then started One97 Communications where they provided people with exam results, cricket scores, ringtones and jokes. In 2010 it became the parent organization of Paytm. In 2017, Forbes ranked him as India’s youngest billionaire and in the same year, he was headlined in Time Magazine’s World’s 100 Most Influential People 2017 List.

    Berkshire Hathaway’s Warren Buffet subsidized $300 million in the business in 2018. And again in 2020, Forbes featured him as the 62nd richest person in India and his net worth is $2.3 billion.

    Binny Bansal

    Net Worth – $1.3 Billion
    Founded – Flipkart
    Education – Graduate from IIT Delhi

    Binny Bansal - Self made Billionaires in India
    Binny Bansal – Self-made Billionaires in India

    Binny Bansal is the founder of the e-commerce platform named Flipkart. He co-founded Flipkart in 2007 and now he has become one of the biggest names in the Indian e-commerce industry. At first, Binny Bansal worked at Sarnoff Corporation, Binny Bansal completed his degree in computer engineering from IIT Delhi. He was the former CEO of Flipkart.

    Flipkart was launched in 2007, at first it was more like a small book store, then it become an e-commerce platform. In 2018, Walmart acquired Flipkart. Today the valuation of Flipkart is around $37.8 billion.

    Sachin Bansal

    Net Worth – $1.3 Billion
    Founded – Flipkart
    Education – Graduate from IIT Delhi

    Sachin Bansal - Self made Billionaires in India
    Sachin Bansal – Self-made Billionaires in India

    Sachin Bansal is an Indian entrepreneur who co-founded one of the most popular Indian e-commerce platforms Flipkart. Flipkart is an e-commerce company that is famous for selling consumer electronics, fashion, groceries and lifestyle-related products. Flipkart was acquired by Walmart in 2018. Sachin Bansal got his degree in Computer Engineering after attending IIT Delhi and founded Flipkart along with Binny Bansal. The net worth of Sachin Bansal is INR 8848 Cores.

    Ritesh Agarwal

    Net Worth – $1.1 Billion
    Founded – Oyo Rooms
    Education – College Dropout

    Ritesh Agarwal - Youngest Billionaire in India
    Ritesh Agarwal – Youngest Billionaire in India

    This 27-year-old Ritesh Agarwal is one the youngest billionaire in 2021 in India. He is the Founder and CEO of OYO Rooms. He commenced OYO Rooms as a small lodging portal under budget.

    In 2012, it was added to the accelerator program by Venture Nursery. In 2013, it won $100,000 in the Thiel Fellowship program and in 2013, he launched OYO Rooms. The company was a success and the stakes tripled when Agarwal purchased $2 billion worth shares in the company.

    He is named in the Forbes 30 under 30 list for Asia and also is nominated for the Business World Young Entrepreneur Award. As per reports, Ritesh Agarwal’s net worth is around $1.1 billion.

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    Deepinder Goyal

    Net Worth – $650 Million
    Founded – Zomato
    Education – Graduate from Indian Institute of Technology, Delhi

    Deepinder Goyal - Self made Billionaire in India
    Deepinder Goyal – Self made Billionaire in India

    Deepinder Goyal is the founder of Zomato, which delivers food from restaurants to every corner of the city. Foodiebay was the name of the firm when they initially started, that is in 2008 and later in 2010, they renamed the company Zomato when the company gained popularity among the people.

    It also acquired Cibando, Gastronauci, Poland’s restaurant search assistance in 2014, and Seattle founded Urbanspoon, it turned out to be their massive gain. As per the report, Deepinder Goyal’s current net worth is around Rs 2,200 crore.

    Conclusion

    Our entrepreneurs are the sole reason for the success of the Indian Economy. Many fresh talents are rising from the corners of the country and are giving a hand in creating a prosperous. As of 2021, there are many such successful entrepreneurs, here we have just mentioned a few.

    FAQs

    Who is the youngest self-made billionaire in India?

    Nikhil Kamath, the co-founder of Zerodha is India’s youngest billionaire at the age of 34.

    Who is the youngest self made billionaire entrepreneur in the world?

    Austin Russell founder of Luminar Technologies is the world’s youngest self-made billionaire.

    Who is India’s youngest millionaire entrepreneur?

    Sunil Butolia is India’s youngest millionaire at the age of 18.

    Who are self made entrepreneurs?

    Self made entrepreneurs are the people who have started with a lack of money, education, or social status and have become both rich and successful through their own efforts.  

    Who is the world’s youngest billionaire?

    The world’s youngest billionaire is German heir Kevin David Lehmann, who is just 19.

    How many Indian billionaires are there now?

    Currently, there are 215+ Indian billionaires, with 58 new additions, as of March 2022.

    Who are the top youngest billionaires in India?

    The top 10 youngest billionaires in India are:

    • Nithin Kamath
    • Nikhil Kamath
    • Divyank Turakhia
    • Ankit Bhati
    • Bhavish Agarwal
    • Vijay Shekar Sharma
    • Binny Bansal
    • Sachin Bansal
    • Ritesh Agarwal
    • Deepinder Goyal

  • Documentaries Every Entrepreneur Should Watch On Netflix

    Entrepreneurs do not like to waste time at all. However, some people like watching video content to get break from their busy life. And documentaries are the gold mine for knowledge as well best for enjoying a weekend.

    And luckily, there’s abundance of documentaries to stream on Netflix. As an associate enterpriser, despite what proportion you’re thinking that you recognize, there’s perpetually additional out there.

    So, if you wish to remain impelled and enrich your business information, whereas obtaining your mind off coronavirus news, here are top Entrepreneur documentaries on Netflix. We suggest you some top-notch documentaries, because Netflix & Chill can obviously be changed to Netflix & Learn.

    Online TV has an ample amount of business and tech documentaries and movies. The themes range from profiles of great leaders and innovators like Bill Gates, Elon Musk and Steve Jobs to the psychology behind human behavior. So, here’s a list of some of the business documentaries on Netflix.

    Top Documentaries for Entrepreneurs on Netflix

    Print The Legend
    The Creative Brain
    The Director: An Evolution in Three Acts
    I Am Bolt
    She did that
    Tony Robbins: I Am Not Your Guru
    Minimalism: A Documentary About The Important Things
    Fyre: The Greatest Party That Never Happened
    Inside Bill’s Brain: Decoding Bill Gates
    Steve Jobs: The Man in the Machine
    FAQ’s

    Print The Legend

    Print The Legend

    IMDB Rating Director Initial Release
    7/10 Luis Lopez, J. Clay Tweel 2014

    Why entrepreneurs should watch Print That Legend?
    It turns your vision into reality.

    This original Netflix documentary for entrepreneurs takes its viewers inside the 3-D Printing Industry. It tells about young emerging companies like MarkerBot and Formlabs as they are racing to switch 3D printing technology tour desktop and in an individuals’ life too. Building a dream from scratch and, innovative new ways of doing things in the world.

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    The Creative Brain

    IMDB Rating Director Initial Release
    6.3/10 Jennifer Beamish, Toby Trackman 2019

    Why entrepreneurs should watch The Creative Brain?
    It taps into the innovative creative process of many innovators while exploring brain-bending, risk-taking ways to tap into creativity.

    This Netflix business documentary is basically based on the book “The Runaway Species: How Human Creativity Remakes The World” by the author David Eagleman who himself is a neuroscientist and entrepreneur. Creativity is the basic instinct of business and this marketing documentary encourages entrepreneurship with a creative mind.

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    The Director: An Evolution in Three Acts

    The Director: An Evolution in Three Acts

    IMDB Rating Director Initial Release
    6.2/10 Goldfinch, McKenzie 2013

    Why entrepreneurs should watch The Director: An Evolution in Three Acts?
    It pulls back the curtain on one of the world’s greatest fashion brand Gucci.

    This Netflix documentary takes you behind the scenes of world-greatest fashion house GUCCI. It gives a glimpse of the career of Frida Giannini, the Italian fashion designer and creative director of Gucci.

    The documentary follows, how a collection goes from concept to runway to closets and the infinite complexity of a process that most of us take for granted when we pick up a dress-up from the rack. Its a must watch documentary on Netflix for every entrepreneur who wants to get into fashion industry.

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    I Am Bolt

    IMDB Rating Director Initial Release
    7.1/10 Benjamin Turner, Gabe Turner 2016

    Why entrepreneurs should watch I Am Bolt?
    Inspiration to follow your dreams and aspire more.

    This is considered one of the best business documentaries on Netflix, it is about Usain Bolt who is a pioneer of Athletics and a global sports legend. One of the renowned athletes of all time, Usain takes his place on the list through this documentary shot about him.

    This documentary aims to provide an insight into how Jamaican sprinter, Usain Bolt managed to reach where he is now, his struggles, inspirations, and relationships. At his finest, Bolt rivaled football legend Pele and legendary boxer, Muhammad Ali, in terms of popularity and acclaim. It’s a very inspirational documentary every entrepreneur should watch.

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    She did that

    IMDB Rating Director Initial Release
    6.5/10 Renae Bluitt, Sterling Milan 2019

    Why entrepreneurs should watch She did that?
    Entrepreneurial women set the standard for excellence in business and taking care of yourself while running a business is just as important as closing deals.

    It follows up inside the lives of four extraordinary Black female entrepreneurs as they discuss building legacies and pioneering a new future for the next generation. It addresses topics such as funding gaps for women because of color.

    It talks about obstacles black women face while working corporate jobs, the implicit bias, and outright racism in business life, as well as when they forget the importance of self-care. A truly empowering documentary on Netflix about women who are building legacies and making history in entrepreneurship.

    Tony Robbins: I Am Not Your Guru

    Tony Robbins: I Am Not Your Guru

    IMDB Rating Director Initial Release
    6.7/10 Joe Berlinger 2016

    Why entrepreneurs should watch Tony Robbins: I Am Not Your Guru?
    This is a must-watch for those who get anxious when they see a ton of workload on their way and will inspire you to deal with it. Basically, teaches the importance of time management and managing work accordingly.

    It is a Netflix documentary about Tony Robbins who is a business strategist, an author, public speaker, coach, and philanthropist and talks of his internationally famous life. It exactly shows the behind story of organizing a workshop; he takes us deep into all the preparations going on and how much it takes to conduct a workshop with this amount of pressure on your back.

    This business documentary is for the Entrepreneurs who are finding it tough to adjust with the constant struggle and workload while organizing a workshop, should consider this one.

    Minimalism: A Documentary About The Important Things

    IMDB Rating Director Initial Release
    6.7/10 Matt D’Avella 2015

    Why entrepreneurs should watch Minimalism?
    How you can survive with minimal material items in today’s world. By reducing the expenditure, you can increase profits.

    A documentary about Minimalism is a must-watch for everyone, be it college students or entrepreneurs. It is aimed at modern-day consumers, where there is a mindset of the importance of material objects and how daily emotions of peace and happiness have taken a backseat. This is how it applies the principles of Minimalism to life and business. It also puts up the idea to give up the idea of using lavish offices and workspaces when the same work can be achieved in ordinary areas.

    Fyre: The Greatest Party That Never Happened

    IMDB Rating Director Initial Release
    7.2/10 Chris Smith 2019

    Why entrepreneurs should watch Minimalism?

    The documentary shows the significance of planning an event and how one should be aware of fraud.

    The documentary shows how a con artist known as Billy McFarland founded The Fyre Festival, which was a fraudulent music festival. Many prominent celebrities promote the festival through their social media. At the opening of the festival, the people experience problems related to food, security and accommodation which led to the cancellation of the event. The organisers were subjected to lawsuits for the fraud.

    Inside Bill’s Brain: Decoding Bill Gates

    IMDB Rating Director Initial Release
    7.9/10 Davis Guggenheim 2019

    Why entrepreneurs should watch Minimalism?

    The documentary shows how one of the greatest business leaders gets his motivation from and how his mind works.

    This documentary portrays the life story of Bill Gates and how he looks for the solution to complex problems. It focuses on his childhood, the creation of Microsoft and his present state of life. This documentary is a three-part television series.

    Steve Jobs: The Man in the Machine

    IMDB Rating Director Initial Release
    6.9/10 Alex Gibney 2015

    Why entrepreneurs should watch Minimalism?

    The documentary is extremely through-provoking and showed the life of Steve Jobs. It shows that through hard work mone can achieve anything.

    This documentary followed the life of Steve Jobs and gives insight into their personal and private life of his. The struggles and his achievements are shown here, although the film only covers 14 years of his life but it has shown three important parts, and how his success has affected his family life. The sacrifices that he made, to reach the level of success are also shown here.

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    Conclusion

    Netflix is not only about Binge-watching and just about movies. Or for that case, using the Internet, Social Media, Watching on OTT platforms is not solely about entertainment. We have to make all these channels for our own benefit. Of Course, Entertainment gives us relaxation and can make us a better person. But it can also be used to get skilled, create a vision,  motivate oneself.

    These are all top documentaries every entrepreneur should watch on Netflix to get motivated, work hard, and give a lot of dedication to your work. That is all, which is required to achieve your goals and aspire for more always. I hope this article is helpful to you.

    So, NETFLIX & LEARN!

    FAQ

    Who are the Founders of Netflix?

    Netflix was founded by two serial entrepreneurs, Marc Randolph and Reed Hastings.

    What is the revenue of Netflix?

    As of 2020, the net worth of Netflix is over 194 billion USD.

    Who are the competitors of Netflix?

    Amazon Prime Video, HULU, YouTube are the top 3 competitors of Netflix.

    What is a Netflix mini-series?

    A mini–series is much more than just a “10-hour movie.” It’s a self-contained story, one that expands over the course of just a handful of episodes. And Netflix is host to more than its fair share of compelling limited series in every genre.

  • 9 Reasons Why You Should Choose Entrepreneurship Over 9 to 5 Job

    The possibility of beginning a company can be somewhat startling if not out and out scary. Still, there are numerous extraordinary purposes to give it a go. Nowadays, it is “simpler” than it ever has been to begin and maintain a business.

    Regardless of whether a person is bootstrapping his business or has an investment, it is currently more hazardous to rely upon employment. Enterprise is fit as a fiddle and here are a few reasons why everyone ought to consider diving in as well. There are many reasons to leave a 9-5 job and become an entrepreneur. Let us see the complete story on the topic- This Is Reasons- Why You Should Leave 9-5 Job And Become An Entrepreneur.

    1. Not Be Bored
    2. To Be Right
    3. To Be Appreciated
    4. To Make Money
    5. Become Your Own Boss
    6. Unable to Unwind
    7. Obsessed
    8. To Gain Knowledge
    9. Labeled a Rebel

    1. Not Be Bored

    If you get yourself effortlessly bored you know how others begin to view you as an issue. Nothing isn’t right with you aside from that you are exhausted with exercises that aren’t up to your potential and aren’t testing you. This absence of tests is the reason you loathed the vast majority of the classes you ever took. Take a gander at who dropped out of school to wind up distinctly one of the wealthiest men on the planet.

    2. To Be Right

    You need to demonstrate you’re not a maniac isn’t that so? Your companions called you insane, your manager thought you were whacked and even your mother said no chance is that going to work. Be that as it may, hello, you did it. You were RIGHT! Furthermore, now you can move around with your hands on your hips, nose noticeable all around, singing “I’m a business person…. I’m a business person….

    3. To Be Appreciated

    Manufacture your business, procure colleagues and take great care of them. You’ll be valued. Particularly on payday; and when you reveal to them they’re making an extraordinary showing with regards to; and when you give them a raise

    4. To Make Money

    The main motive when you think of becoming an entrepreneur is to earn money and if you become a successful entrepreneur you could earn a lot of money. This is one of the most important reasons to leave a 9 to 5 job and become an entrepreneur.

    5. Become Your Own Boss

    You may not see eye to eye with your manager, but rather you can’t fire him or her. As a business visionary, you will work for your customers, however, you can supplant and fire troublesome customers. Owning your own particular business will empower you to experience being in control of your own workday.

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    6. Unable to Unwind

    Dozing is impossible since you can’t kill your considerations. Your thoughts may even show themselves in your rest your psyche is never killed or on an excursion. The following morning despite everything you’re overwhelmed by the thought, diverting you from the employer should do.

    7. Obsessed

    You may have been named over the top since when you begin on something you have a troublesome time relinquishing it. Try not to give anybody a chance to persuade you this is a malady or insufficiency. Every single awesome business person turns out to be totally inundated in their vision — obsessed.

    8. To Gain Knowledge

    Regardless of whether this is one reason you set out to be a business visionary or not, your tank is presently brimming with information. One thing I’ve adapted, however: It’s greatly improved to have astuteness than information. This is also one of the reasons to leave a 9 to 5 job and start your own business.

    9. Labeled a Rebel

    The significance lies outside of the lines and limits of experts and you don’t think laws, approaches, and directions apply to you. You have been marked a rebel, a run breaker and would challenge gravity if you could.

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    FAQs

    Do entrepreneurs earn more than employees?

    Yes, but entrepreneurship is all about hard work and how successful your product will be in the market. But many entrepreneurs do make less money when they were an employee.

    Why are entrepreneurs better than jobs?

    You are your own boss. Entrepreneurs can work at flexible times which leads to a healthy life but entrepreneurs usually have high-stress levels.

    Are entrepreneurs happier than employees?

    Yes, entrepreneurs are happier than employees but that comes with its own set of drawbacks which is too many failures, long working hours, low income, and high-stress levels.