Over twenty five years back, as a young engineering aspirant, some of us have debated on this dichotomy of nomenclature, a civil-mechanical-electrical engineering as against a chemical-production technology. Nevertheless, ‘a professional course’ as we call it moulds and directs the student to make a profession of his/her stream of study. Apart from the opportunities in the mainstream functional areas like Project management, Design, Research & Development, or Pedagogy, the quintessential commonality in all streams of study also helps ‘the engineer’ adapt to swings of the market and make smart shifts in career. Year 2000, for instance witnessed a phenomenal shift of career of engineers from all streams of study into IT, a sector which then exhibited a tectonic boom.
Till a decade ago, our country continued to run short of the number of engineers produced annually as against the intake in both the private and public sectors as per a survey. The statistics shows that engineering colleges sprung up in number from a fair 1500 colleges in 2007 to a mind-boggling 3300 in 2015 in India, with a small state of Kerala alone shouldering over 150 engineering colleges. Has this lowered the bar or shrunk the demand for the profession, … Read the rest
There are numerous, legitimate opportunities in the market that can be filled by an enthusiastic entrepreneur. Network marketing, for one, can be very lucrative and can become a great way of making your living. There are so many opportunities offered online for starting a business. Once you have made the decision to start working on your own and start a home based business you are on the road to freedom. The hardest part in starting a home business is taking the plunge. Once you do, you will experience freedom from the office routine and peak hour traffic and will ultimately have financial freedom as well.
There are many options you can choose from to make money from home, but choose wisely. Make sure that you will enjoy doing what ever you choose and then you will not lose your focus. Studies show that if you enjoy what you are doing, you will devout more time to it and do a better job than if you are doing something that you don’t enjoy. So many people are making an online business their new venture and are making a lot of money. Like any conventional business you will have to put a … Read the rest
What I told him in our first session shocked him; it was basically this:
“You don’t have a business, you have a job.”
This is the trap that so many business owners fall into – they mistakenly believe that because they are the “owner,” somehow they truly own the business. WRONG!
Merely owning and running a business does not you mean that you’re a business owner in the truest sense; it simply means you are employed by a business entity that you own.
A true business is a system that runs entirely on its own without you physically being there on a day-to-day basis.
A true test of whether or not you own a business is to ask yourself, “If I took 6 months off, would it still be around?”
If the answer is no, then you don’t have a business; you are simply self-employed!
This is a very important principle to understand before you start any business, as it will make the difference between small profits or large ones.
In essence, to create business is to build a system that operates automatically without your day-to-day input.
Instead it operates by you leveraging the resources available to you: your systems, … Read the rest
Fear of failure
The vast majority of people who opt into a website never even read the emails that are sent to them to teach them how to market online. And this is probably due to skepticism.
A little skepticism about jumping into a new opportunity is healthy. However, beware of choosing to be so skeptical that it holds you back from success. Skepticism is the same as fear. And fear is “False Events Appearing Real”. If you are so skeptical that you never try, then your likelihood of becoming successful is a big fat zero!
Fear of success
Fear of success? Yes, there is such a thing as this, too. People by and large are afraid of change. They tend to cling to whatever it is they know, which is their “comfort zone”. Oddly enough, even staying with an abusive spouse is considered a “comfort zone” for some… and staying in an abusive job is also a comfort zone, even though it is far from comfortable. If this is you, be aware of it, recognize it, and try to move on.
Fear of quitting job due to long-time loyalty
People who hate their jobs have it easy to move … Read the rest
There’s one major problem with that model, says Shuman. It all hinges on getting the business right the first time, and that doesn’t often happen. “In reality, it’s likely that some of your initial assumptions are pretty good and others aren’t going to be worth the paper they’re written on,” he says.
Shuman and others say that figuring out your start-up costs means regularly reviewing your assumptions and changing your initial model. Writing a plan is good because it forces you to write down everything you are going to need to start your business.
But that initial plan is likely to change repeatedly as you learn new things and incorporate them into the plan. Be Willing to Pull Back
It’s tempting to add up everything you need for the full-fledged business you imagine, and decide it’s what you need to start out.
But pulling back and looking for a smaller model can give you a way to get started while also saving money. Shuman uses the example of someone who calculates the total cost of starting a retail business in a local shopping centre.
“You could start that way and write a business plan based on that amount,” he says. … Read the rest
The Left-Brained Innovator
Left-brained innovators set out to build great products or serve clients with their expertise. Revenue is the goal. It sounds simple; take a great idea, develop it, launch it, and collect the proceeds.
Left-brained thinkers might see in-depth planning and marketing for a product launch as “mumbo jumbo”. They might even believe a marketing team is unnecessary. They may undervalue support staff such as those in customer service, accounts receivable, and even shipping and receiving.
Intuitively this lot knows that without their expertise there would be no product or service and thus no revenue. In their mind, they are king; without their ability to build products or serve clients there would be no business.
But without communicating the product or service to the customers who need it, there will be no sales. Without an accounts receivable department to collect payments, there will be no cash in the bank.
Success in business is never one-dimensional. It is multi-faceted and control freaks on the management team will hold the business back if they don’t welcome others into the circle and value their contributions. Building the right team is part of the equation in a successful product launch.
… Read the rest
Welcome detours and failures with open arms
It is a common perception when things get bad that this is “worst thing to ever happen to you” and more often than not when your no longer in the moment it actually turns out to be the best thing that ever happened to you.
Successful people, especially people with an entrepreneurial streak, welcome detours and failures as a natural part of the journey. So first and foremost never question your passion and your ability to get things done. If you have the confidence in yourself, in where you are going, and what you are trying to build, this is what will get you through tough times. And that is all it’ll be – tough times.
Just don’t stare at the closed door too long.
“No” is just one step closer to “yes”
If you aren’t being told “no” on a daily basis, you aren’t pushing yourself hard enough or taking enough risks. Develop a thick skin and smile all over because the “no” is one step closer to “yes”.
Success is not the natural state of things
One of the most important lessons is that without failure, you do not truly understand … Read the rest
We all understand what a business is, but how is it defined?
A search among different sources will give you a range of different definitions. Chambers dictionary list it as defined below:
business noun 1 the buying and selling of goods and services.
This highlights the common theme among all the definitions, buying and selling. It doesn’t matter what the end product of the company is or what service it is that they supply what matters is that someone wants to buy it.
The aim of any business, no matter how lofty a mission statement they may purport to follow, is to make money. They need to provide something that other businesses or customers will part with money to have access to. It’s important to remember that not all businesses will have the aim of a profit. A charity can be run as a business, they may give away all the money they receive or spend it on helping others, but they still need to be able to have that income stream to be able to operate.
How Does it Start?
I’m not going to get into depth about the formation of a business in a legislative sense, whether a … Read the rest
Start thinking! Get your brain to work
Whether you’re too busy with your daily routines to take the time to think and reflect on what you want, or feel that your brain is too pressured and lacking the ability to run wild with your imagination, worry not. This article has tips and advice that will help you get started with the creative process.
The first step towards creative thinking is understating how the mind works and how to stimulate your brain. I will dig deep into this topic, because we might need several book to cover it, but I will briefly mention the key elements.
The brain has two main parts; the right and the left hemispheres, each of these have different functions and work differently. The right hemisphere is creative and artistic part, it’s the part that appreciates art, it uses shapes, colors and images to analyze and process information, and it’s also the part that controls creativity and the imagination.
The left part is the logical part, it’s the part that performs mathematical calculations, looks for causes and effects, uses words to describe and define, and it’s also the part that controls speech, grammar and word order.
For … Read the rest
Write Your Heart Out
So you may ask, how does one even begin on the journey to finding one’s niche? The answer is to open your heart and mind and start writing. What is it you know that you want to share with others? The answer to this question may take a bit of soul searching, but it is well worth the effort and time. Once you figure out what you want to shout from the rooftops, the rest will start flowing naturally. You can then begin to lead the pack down an untraveled road.
Create Something New
Have you ever thought of something brilliant, only to find out somebody else has already cashed in on your idea? It happens. But there is something deep inside you that no one else has accessed before. If you search far enough and open yourself completely to the process of discovery, you will find it. That will be your niche.
Love What You Do
Discovering your niche is a privilege all on its own. You will love everything about it and it will show. Embracing it is not only about knowing something, it’s about knowing something that belongs only to you. It is … Read the rest