Secrets of Entrepreneurship Success

"When everything seems to be going against you, remember that the airplane takes off against the wind, not with it."- Henry Ford, founder of Ford Motor Company.

There are two ways to live your life; first one is to live life as it comes. The second one is living life the way you want. It is all about daring to think different and walk alone on the path you believe in.

We often hear and read stories of Successful Entrepreneurs and wonder the secret behind it. It is based on the formula “no gain without pain”. Every entrepreneur goes through many hardships before achieving success. Multiple failures lead to one big success. It depends on whether the entrepreneur wants to learn from the mistakes or keep repeating them.

To start your own business, you require strong belief in your idea of business and a workable execution plan. You have to be prepared to face the worst situations without any warning. Most of today’s successful Entrepreneurs started their Entrepreneurial journey all alone. There was no one who had faith in them. But they remained firm on their thought. This quality makes an entrepreneur unique.

Entrepreneurship success is not a cakewalk. It is the result of tireless efforts of the entrepreneur. It is the outcome of hardwork combined with optimistic thinking.

However, there are few secrets which can be useful to you.

            Do what you really want to do: You are in Business world which is highly subjective to change. You have to expect the unexpected. In such a situation, don’t panic or get under pressure. Stay calm, and continue doing what you really believe in. There is nothing in the world that can stop you if you believe in yourself. Don’t adopt those methods which you are against your interests.

  

     Love your business: Treat your business equivalent to your Family. You should have love and respect for it. Great ideas will fall in place only when there is a happy face behind it. Others will appreciate your business only when they see the same in your eyes.

           Small steps= Big Differences: Ever observed how a baby walks? It takes tiny steps, very carefully. You have to do the same in Business. It is a misconception of many that in order to survive in the highly competitive environment of the corporate world, an entrepreneur needs to take big steps. The ones who do this are sure to fall in a dark pit of failure. Don’t be one of them. Analyze each possibility before taking any step in business. One wrong step can end your journey.

     Learn from failures: Failures have the power to teach you the most valuable lessons of life. They teach you the real essence of success. If you are able to convert each failure as a stepping stone to success, then the sky is the limit for you! Stand up head high after falling deep down. Make each fall count.

     There is a very fine line between confidence and over confidence: Having confidence in your work is good but being over confident about the same is very bad for your business. You have to set an example for the rest. If you are running a Family managed business, then the responsibility lies on your shoulders to motivate the future generations to enter the family business.

           Entrepreneur never stops thinking: To gain the highest altitudes of success in business, you should always be on the hunt of new ideas and thoughts to enhance your business. This profession has comfort but no time for wastage. Each minute spent should be utilized in the benefit of the business.

            Successful Business Model: The most important and pre requisite factor of entrepreneurship success is having a Business model. Without which your business will not stand firmly and soon collapse.

            Teamwork is everything: Without the help and support of your team of employees you will be unable to reach any business objectives and goals. You have to hold the team together and move in the direction of everyone’s benefits.

     Ego leads to pit of darkness: Never develop ego about anything. Develop entrepreneur and leadership skills within you that are positive in nature.

iFEEL is the perfect place where future Entrepreneurs are born. It is a Residential Business School located at Lonavala and established by Global Education Trust in 2010.

iFEEL is offering a 11 months Entrepreneurship Excellence Program (EEP)/ Family Managed Business (FMB) program. This program is tailored for developing future entrepreneurs and giving leaders of business to the corporate industry. this program focuses on the 3  main components of business: START, GROW AND TURNAROUND BUSINESS.

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Just Shift 1 Letter & CHANGE Your Life from EMPLOYEE TO EMPLOYER!

Money is one of the most important elements of our lives. For every single thing you require money. In the materialistic world like ours, it is impossible to survive without money. The population growth rate is increasing rapidly. As a result, the competency level has also increased considerably. There is no shortage of talent in any field or area.

We obtain quality education with the objective of acquiring a desirable job. We look out for job opportunities in every field. Sometimes, this ends in disappointment. With increase in population it is essential to increase job opportunities to meet their needs. 

There are 2 kinds of people; Employee & Employer. Let’s understand the characteristics of each.

LIFE OF AN EMPLOYEE:

• A Fixed, non adjustable 9 to 5 job routine 
• No direct benefit of efforts 
• Follower 
• Job seeker 
• No time for family 
• Holiday plan only once a year 
• Slow growth 
• Expects higher salary from the boss progressively 
• No freedom to express his ideas. Has to follow the boss most of the time. 
• Meager bank balance 
• Simple & Ordinary Lifestyle 
• Faces deadlines which results in stressful life. Stress leads to ill health, depression and unhappiness. 
• Sometimes, has to work even on holidays and festivals

LIFE OF AN EMPLOYER/ ENTREPRENEUR:

• Fixes his own work timings 
• His Efforts= His Benefits 
• Leader of Masses 
• Job creator for Employees 
• Spends time with family whenever he wants 
• Goes for holidays 2-3 times a year (or as per his wish) 
• Grows from a startup into an successful Entrepreneur 
• Meets the expectation of high salary of his employees 
• Enjoys the freedom of creativity. Is followed by his employees 
• Significant bank balance 
• Extra ordinary lifestyle 
• Decides deadlines for others

You have a dream to start your own business. So how to you achieve it in reality? If you have full confidence on your business idea, then you should start your entrepreneurial journey at once.

How to be a successful Entrepreneur?

An Entrepreneur is a person who starts his own business venture with a team of dedicated & skillful people to make it a success. Qualities like leadership, focus, innovation, creativeness, analytical skills etc alone will not make you a successful Entrepreneur. You will succeed only if you use your qualities and abilities appropriately. In order to start a new business, you need to have the skill of identifying unaddressed market which has unfulfilled needs of the customers. 

Institute for Future Education, Entrepreneurship and Leadership (iFEEL) is an AICTE affiliated residential Business school situated at Lonavala established by Global Education Trust in 2010. It is offering Entrepreneurship Excellence Program (EEP)/ Family Managed Business (FMB) which is an 11 month customized program which is designed keeping in mind requirements of Entrepreneurs in today’s challenging times.

Unique features of this program:

•  3 Pronged Structure for Entrepreneurs (Start, Grow & Turnaround)
• International & Domestic Industrial Tours
• Residential Campus
• Guest Lectures by CEO/COO’s
• Holistic Approach to Learning
• Global Best Practices 
• Program Advisory Cell
• Customized Study Material
• Case Study Based Learning Approach
• Additional Learning facility through ONLINE Lectures
• Exposure to Business and Trade Associations

This Entrepreneurship Course will help you to develop Entrepreneurial and Leadership skills. Opportunity knocks the door only once. Answer it before it’s too late!

Contact iFEEL today and CREATE YOUR TOMORROW!!

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6 Unique Ways to Overcome Business Loss

“Success consists of going from failure to failure without loss of enthusiasm”. -    Winston Churchill (Former Prime Minister of the United Kingdom)

You started with a dream to start your own business. You had some specific goals and objectives to achieve. You wanted to establish the brand name of your company which you might have succeeded in. Today, there are many Entrepreneurs who stop their company because it is running in loss.

                 We all are familiar with the proverb; “try and try till you succeed”. Then why don’t we apply its meaning in our lives? Why do we lose hopes? Why can’t we keep an optimistic approach in life? Well, the answer to all these questions is FEAR. Yes. The human race is subjected to fear in all things. We fear the future and as a result of this we ruin our present.

Same implies in business. When you started your Entrepreneurial Journey, you might have faced many hurdles and obstacles in your way. Many people might have discouraged you and underestimated your potentials. Did you stop at this? Did you think they are right? No. Instead, you took the decision to prove all of them wrong. You wanted the world to praise your Entrepreneurship skills. Then why do you quit when you incur heavy losses in business?

Business is not as complicated as people tend to showcase it as. Belief in yourself, hard work, love your work, leadership, focus, knowledge, patience and an optimistic mind are among the key elements that contribute in the success of the business. Grand success comes only after great Failures. You will not know the significance of success if you haven’t experienced failure.

There are many reasons for a business to fail/incur loss:

• Poor communication strategy
• You are not able to reach out to your target audience in the appropriate manner
• There is scope of improvement in your product or services
• Your team is not working effectively or you need to recruit more talented and skillful people in your company
• You are not taking calculated risks
• You need to formulate a new marketing strategy for your business

You are not taking your competitors seriously etc.

Turning your business loss into profit is not impossible. Everything can be achieved if you have faith in yourself.

Ways to overcome business loss:

1.     Be optimistic: you can conquer the entire world with positive thinking. Keep telling yourself “NOTHING IS IMPOSSIBLE”.

2.     Nothing is constant in life: It is the golden rule of life. Everything goes through a change. In life, there are good and bad both days. There is no one who hasn’t faced a problem in life.

3.     Turn loss into positive loss: confused? It is very simple. Every failure that we face has some lesson hidden behind it. We should have the ability to identify it and make the most of it.

4.     Failure brings you closer to success: it is said that when one fails to achieve something, he is coming one step closer to his goal. Read the story of any successful Entrepreneur, you will find all of them had failed to attain their objectives initially. But they did not stop there. They turned it into a lesson and converted it to success.

5.     Don’t waste time worrying: “worry is like an armchair. It gives you something to do for the time being, but it gets you nowhere”. Firstly, you are facing heavy loss. Instead of doing something about it, you sit down worrying. Avoid this. Use that time for doing something about the loss. Think of ways unexplored and how you can achieve success.

6.     Motivate your employees: your team matters the most in order to succeed. If your team loses interest in the job, it will worsen the situation. Employees always inspire their boss. If you will have a tensed face, it will make the employees more nervous and insecure. Rather, have a smile on your face and hold your head high. Assure them the power of team work. Make them know how important their contribution is.

Institute of Future Education, Entrepreneurship and Leadership (iFEEL) is a residential Business School, established by the Global Education Trust in 2009. It is situated on five acres of lush green land at Lonavala. It is an AICTE affiliated residential business school that provides 2 years full time PGDM program.

Entrepreneurship Excellence Program (EEP) / Family Managed Business of iFEEL is a unique program which is designed keeping in mind knowledge, skills and the best global practices required to run businesses successfully in today’s time. Practical knowledge and tips from real life entrepreneurs help participants sail through ups and downs of business.

It has a 3 pronged structure; start, grow and turnaround. Contact iFEEL today and turnaround your business forever!!

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The Golden Mantras to Make Your Startup a Success

The decision to start your own business is similar to taking care of a small baby. You have to take utmost care of every small thing to make sure there is no room for any mistake. Your business will reach next stages in business only when the startup is successful. But unfortunately, many great startup businesses fail. Reasons behind this vary.

     If you have the dream of being a successful Entrepreneur, then your dream is about to come true. You may have a perfect business idea, but it is of no use unless given right direction. Your efforts should meet objectives of your business. So how do you accomplish this? The business world is getting complex day by day. There are new advancements happening in every segment of the market. The number of competitors in each field has increased incredibly. Many startups with unique ideas and MNC’s offer challenging business environment where it is survival of the fittest. If this is the prevailing condition, then how can you get a successful startup? Is it possible in reality? Yes! Indeed it is. Let us see how.

INGREDIENTS OF A SUCCESSFUL STARTUP:

ü Realistic business idea: ideas are formed as a result of our creativity and imagination. We know how abstract our approach can get sometimes. Thoughts make an idea. Your eureka moment is the result of the thoughts which you believe make a difference. Start up business ideas should be achievable in reality. An out of the world idea which lacks compatibility with the market conditions will fail even before it starts.

ü Getting reliable man power/ setting up the correct team: business efficiency is measured by the work efforts of all the members. A company doesn’t run solely because of the boss. It’s his employees who help him to accomplish his targets and progress. If you run a new business, a talented and focused team is the key to success.

ü Effective communication: you want to grow your own business, but will this thought alone help you? Many businesses fail because the audience didn’t know of their existence. How will your product sell if no one in the market is aware of it? To avoid this situation, you need excellent communication plan and strategy. The correct words have to reach on correct time to the correct audience. The means of communication should be kept simple. Don’t imitate your competitor’s strategy. The things which worked for them will not necessarily work for you. Your communication style has to be different otherwise you will confuse the buyers. Your loss will become your competitors gain!

ü Abide by business legal norms: an entrepreneur has to keep himself updated with all business laws and norms like laws of land, export- import law, the guidelines for business operations in the country etc. you don’t want your startup to get in the eyes of law at its first steps only. Get the advice from an expert and follow it.

ü Selling through patience: patience is at the core of entrepreneurship development. Your motive should be to make profits but not by bombarding the audience with several advertisements all at the same time. Once the audience gets annoyed, it is a lengthy process to gain back their attention.

iFEEL is a residential business school set up on five acres of lush green land situated at Lonavala. It has come up with one of its kind Family managed business/ Entrepreneurship Excellence Program. It is of 11 months (become an entrepreneur in just 11 months!) you will get the best exposure needed to start your Entrepreneurship journey. Contact iFEEL executives today!

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Be An Entrepreneur And Create Jobs

India is the world’s second most populous country with a population of around 1.252 Billion (as per 2013 census reports). If the number of people is increasing, it goes without saying that so are the necessities. We humans have many basic requirements in life without which we can’t survive. Amongst them the most important one is Money. Be it the Rural or the urban regions, all are in the race to earn a livelihood and give a decent lifestyle to their families. When we talk about a City like Mumbai, it is employment which figures top amongst most prominent needs. You may be wondering why I am telling you about all this instead of speaking about Entrepreneurship. Well, it all goes together.

         When you speak of the word Entrepreneur,

You are speaking of a very vast element. An Entrepreneur is a person who is the owner of a business or venture and who takes up all the responsibilities for its functioning and management. He is the one who starts a new business with the intention of growing it to the best of his/her capability. Now, it’s obvious that he/she will create a job for himself but how is this related to creating jobs for others? Hold your curiosity for a while as I explain you further.

Entrepreneur- the creator of Jobs

• Human Resource: Any business irrespective of its size or nature cannot function without Human resource. Just imagine yourself doing business all alone. Not possible right? As you start recruiting suitable people for your Firm, you create jobs for them. As the number of your business requirements increase, the number of you creating jobs through recruiting.

• Taking calculated risks: As an Entrepreneur, you have to continuously thrive to develop Entrepreneur and leadership skills. This includes taking calculated risks in business. You will do this in the form of expanding your product line, trying new products, increasing manufacturing and production capacity etc. Each of this will involve more skilled manpower.

• Contribute to Wealth of the country: You have started a new business, developed it to higher levels and generated jobs for many people. In return you make profit which also benefits your employees. When the number of employment increases it will have a direct contribution to wealth of the country by increasing its GDP through increase in domestic consumption.

Your role doesn’t end at just being successful yourself. You are the one who directly creates opportunities for others as well as benefit the country economically. If you are eager to start your journey as an Entrepreneur, I have good news for you. Institute for Future Education Entrepreneurship and Leadership (iFEEL) is the best option for you. It is a residential business school at Lonavala established by Global Education Trust in 2010. It has designed a unique Entrepreneurship Excellence Program (EEP) which focuses on grooming Entrepreneurs and Future Leaders. This Program is formulated keeping in mind requirements of Entrepreneurs in today’s challenging times. It is the perfect mould for shaping your Entrepreneurship. Don’t just do a job, rather create it for others!

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