Entrepreneurship: Do You Have It In You?

“It’s not about ideas , it’s about making ideas happen” . To achieve your dreams be at Sharda University , where the world is.

There are basic qualities that are shared by an effective business visionary. On the off chance that you don’t have these triumphant elements you can create at the appointed time by taking after a few qualities. So set your objectives and put forth a concentrated effort through a key Planning so you can accomplish measurable stages

Plan Everything

Planning is important as it helps in analyzing the situation and makes the conclusion based mainly on the facts. A business plan is also used as a second function by telling what our goals are and how we can achieve it. You can use the plan to map the success from point A to Z.

Manage Money Wisely

Financial management is the life line of any business. The income and expenditure statement tells you about the profitability and how each parameter, like overhead cost, raw material cost, salary, etc are contributing in the cash flow statements. One should be aware of working capital management. How much cash is available for the processing of business. But never love money instead love your business.

Project a Positive Business Image

Reputation sells. Building the image of a business is as important as running the business. Your customers should like you and your vendors should trust you. You may not have big offices, elegant storefronts, and showrooms, but your ethics, creativity, and sincere efforts should be your selling points. Business is nothing but building a reputation. How you meet your deadline, satisfy the customer never giving complaints to the vendor is the approach towards building a good reputation. Consistency in what you serve is the key factor. It is not a one-time task but you have to religiously maintain your credibility is the way to earn the trust of your team. In the absence of the sincerity, you can’t earn the good reputation.

Get to Know Your Customers

Understanding customer is very important. One should give personalized attention to the customers. Use phone calls, try to win the trust, enquire their regular needs. One should build the good customer relationships. You should be committed to your customers.Along with trying to draw the attention of new customers businessman should do things to woo regular customers. In the long run, your regular customers appreciate you more and remembered in a modern fast world.

Build a Team

No person can build a successful business alone. Building a team is an initial task of start up. Your business team will include customers, suppliers, subcontractors, employees, local govt., and community. Your employees are the biggest strength of your enterprise.  Taking care of their demands, fulfilling their needs and motivating them is the key role to their success.

Construct a Network

The more you stay dynamic in group , better chances are there to build a network. Club is one spot where you will discover individuals with same mentality. You ought to get a kick out of the chance to be in an organization of individuals with desire, intelligence, and down to earth methodology might want to be in your organization. This wins regard in the public arena and as you help them they might want to work with you.

Having above characteristics and state of mind will bring forth enterprise in you. Having the thought, executing it and uniting your group is everything you need. Your risk taking capacity and affection for exploring new territory ought to be main impetus for beginning a startup.