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Successful Startup Secret-1

Successful Startup Secret-1
Successful Startup Secret – Choose an idea you think is important Entrepreneurs often ask, “How do you pick an idea for a business?” and the question is difficult to answer. It all depends on your expertise, experience, financial strength, #industry knowledge and of course a great team to back you up. A good place to start is with the people you surround yourself with. A great idea is undoubtedly the catalyst to set things in motion, but at the end of the day, it’s the team you hire who ultimately determine the success, or failure, of the company. There’s no precise or familiar formula, but the following five open secrets will help you in discovering that perfect magic to achieve your goals (to be discussed in five sessions). The first secret being, Choose an idea you think is important-It is Your Brainchild “Ideas are considered generally bad for two very different reasons: (1) so uncommon no one gets it or (2) so common, seems redundant. -Zaid Farooqui An idea for a new startup is like naming your baby. Suggestions pour from all quarters and the fun part is you are not going to like any one of those. Ultimately an #entrepreneur would like to give life to his very own idea which may come as a boom at the grocery store, in the shower, or even during sleep. There is no better form of motivation than having a sense that you are investing your mind, soul and energy into something vital, and that never ending #passion to become successful in your endeavor. Once you’ve done that, ask your friends and family, too. Getting as much input as possible is the first step to making a good decision. 1. Does your customer exist? 2. Will your business idea still be relevant in a few years? 3. Do you really want to run this business? 4. Who is your competition (and does it matter)? You need mammoth strength, I’m talking about your will power to start and run the show, for which you need to believe in yourself completely. This is the first step, “Believing in yourself”, the rest follows automatically. This self-belief comes when you possess the right business proposition for the right target segment with a clear business plan. Startup Business Plan For a Restaurant Here I have listed some of the enterprising startup ideas that have shown growth in 2014 and seem to be lucrative in the years to come:  #Online store – Requirements: A good product or service, a reliable and authentic payment gateway, a easily navigable website and a large market. #Personal Training – Requirements: Expertise and Knowledge on nutrition and exercises, a facebook page, a skype account or Google hang-out to build followers, a subscription payment gateway through Paypal or other similar bank accounts. #Photography– Requirements: A state of the art camera, a great portfolio of your pictures, a creative facebook page or pinterest board to promote yourself. #Online Teaching– Requirements: Expertise in the concerned subject, member in a popular teaching platform or your own website, an LMS software, skype account. #HR #Recruitment– Requirements: Huge contacts in the industry, a reliable partner, a good website with testimonials, understanding client requirements and satisfying by supplying appropriate talent. These ideas suit people with minimum investment in mind, but if executed properly you can establish yourself nicely in a span of two years and then there is no looking...
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Capital Budgeting and Capital Accounting Systems

Capital Budgeting and Capital Accounting Systems
Capital Budgeting and Capital Accounting Systems  These internal accounting systems facilitate and support decision-makers in assessing potential investments with respect to cost effectiveness. The purpose of capital accounting systems support decision-makers in monitoring and planning liquidity. What is Capital Budgeting? Capital budgeting is the planning process used to determine whether an organization’s long term investments such as new machinery, replacement machinery, new plants, new products, and research development projects are worth the funding of cash through the firm’s capitalization structure. Capital budgeting systems is a framework that support management in making decisions in the context of capital investment decisions. In particular, capital budgeting systems help to determine whether or not a capital investment will earn back the original expenditure  and in addition provide a reasonable return. This type of decisions usually entails large amounts of organizational resources at risk and, at the same time, affects the future development of the organization . Capital budgeting systems usually focus on capital investment decisions that cover many years. This discriminates capital budgeting systems from income determination and planning which usually focus on the current period. Capital investment decisions usually encompass cash inflows and outflows that accrue at different points in time which are usually answered by adding accrued interest of discounting of cash-flows. Capital budgeting process consists of six steps: Project Generation Estimation Of Cash-Flows Progress Through The Organization Analysis And Selection Of Projects Authorization Of Expenditures And Post-Audit Investigations.  In the step of (1) project generation, potential investments are chosen for which in step (2) potential cash-flows are estimated. In step (3), i.e., progress through the organization,  certain projects require approval of top-management. In step (4),  analysis and selection of projects, the selected projects are assessed with respect to the fact that cash inflows and outflows usually realize at different points in time. In Step (5), authorization of expenditures, captures the final decision (usually made by top management) on whether or not to invest into the selected project. Finally, in step (6) captures a post-audit investigation, i.e., after a certain period of time actual results might be gained which potentially provide input for control purposes. Capital budgeting systems particularly support management in step (4), i.e., the analysis and selection of projects. Capital accounting systems support management in planning and controlling liquidity. Courtesy: S. Leitner, Information Quality and Management Accounting, Lecture Notes in Economics and Mathematical...
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How to Negotiate a Job Offer

How to Negotiate a Job Offer
How to Negotiate a Job Offer Setting Yourself up for a Successful Career Opportunity: Find out all the particulars about the company you are applying for. Thank the employer for the offer, even if it’s not workable for you. Negotiate a time frame for deciding upon whether to take it or leave it. Do your homework thoroughly online. Think about whether the potential job matches your needs and goals. Research the competition. Find out what kind of leverage you have, if any. Get Job Interviews using Social Media  Negotiating Your Best Offer Possible: Get in contact with your liaison or hiring manager one more time. Before going into the negotiation, know your minimum and target salary. Ask for more money without actually spelling out a number. Brush off the employer’s attempts to pin you down to a number Wait for the employer to offer a number. Present a better offer if you feel like you’re worth more. Incorporate benefits or perks into the conversation. Get everything in writing. How to Negotiate Better Salary at an Entry Level Position Consideration of Other Details: Listen to your instinct during the entire negotiation process. When asking for a salary, ask for a correct number. Don’t play the pity card. Be affable, understanding, and never burn bridges. Be confident. How To Create Sales Videos & Sales Copies   “Let us never negotiate out of fear, but let us never fear to negotiation”~ JFK “During a negotiation, it would be wise not to take anything personally. If you leave personalities out of it, you will be able to see opportunities more objectively.” – Brian Koslow  ...
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Top 5 Productivity Killers and Solutions

Top 5 Productivity Killers and Solutions
What can be the top 5 productivity killers in your office? I’d like to start this discussion with an apt quote by Timothy Ferriss that says “Focus on being productive instead of busy”. Productivity Killer 1 – PAY OR COMPENSATION Though there is a general argument that pay is not the primary motivating factor for employees, I feel it is. Employees are always smart who are well versed with the current industry position, financial constraints faced by the company, revenue deficits, and increased competition. Problems arise only when the management is not giving a pay rise periodically and more so when the workers feel there is no equity in financial treatment with their peers both inside and outside the company. It is true that the most contented and engaged employees feel they work for something more than just money. It’s the management’s responsibility to provide that sense of belonging and implication. Statistics : The category “Quits” (more than 2 million Americans are voluntarily leaving their jobs every month even in a climate of business uncertainty and an unemployment rate of 7.8 percent) show that inadequate compensation is by far the number one reason that dissatisfied employees want to leave their job. It has been proven time and again that fair pay practices benefit not only the employee, but also the employer. Solution: Open Reward System and make them stake holders in your company. Finding the Productivity Sweet Spot – Read this infographic from NICE systems on time wasted at work to understand if fantasy football or facebook causes us to procrastinate more: Productivity Killer 2 – UNPRODUCTIVE OFFICE SPACE The right kind of workspace can greatly enhance employees’ peace of mind and productivity. It only calls for a few simple design fixes in your office environment to make it much more productive. The Color Affects System, developed by world-renown color psychologist Angela Wright, establishes that while individuals might have certain preferences for color, the effects of color influence people universally. It the secret lies in the saturation and intensity of the color choice where highly saturated, bright colors will motivate while softer, gentle hues tend to be soothing. Letting in a lot of natural light increases productivity, energy and creativity. Ensure that employees have the space to get up and take a walk occasionally and not chained to their cubicles rightly termed as monolithic insanity, or maybe a lounge area where they can relax for a while instead of sitting in the same place all day. Statistics: A nation-wide survey conducted on behalf of Ask.com, in which they canvassed more than 2,060 professionals ages 18 and up, to unearth the preferences and habits of U.S. office workers when it comes to an optimally productive environment. As it turns out, telecommuting, group projects, impromptu meetings, cubicles, sitting next to the boss, and face-to-face interactions are other big culprits. Solution: Good Ergonomics is good economics and creating a personal space where you can tune out the outside world and maximize output is considered more valuable. Related: Smart Ways to Compensate Employees Productivity Killer 3 – PERSONAL USE OF TECHNOLOGY When it comes to office distractions or diversions, it is no wonder that the leading problem is the personal use of technology. A surprising one in four workers confessed to spending at least one hour a day on personal calls, emails or texts while on the clock. One in five said she/he spent at least one hour every workday visiting non-work related websites. There’s Facebook, of course, and the email from a friend with a video link followed by a coffee break. The onslaught of tablets and Cloud-based computing makes it possible for more...
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Six Helpful Tips for Young Leaders

Six Helpful Tips for Young Leaders
Helpful Tips for Young leaders Here’s a random list of practical advice for young leaders. If you can learn and practice these early in your career, it will help you avoid having to learn them by experience. Delegate, Trust People down the line and Take Advice: While a young business leader may have a flair for leading from the front, one should realize that limited experience is a limiting factor. People are far more likely to take a manager seriously only if he or she listens to and heeds advice. When you act as the sole proprietor of making decisions in your company, people working for you start losing faith in you. It creates what is called “NEGATIVE VIBES” which is not at all good for the overall development of an organization. It is a good practice to communicate and consult with your immediate sub-ordinates before going for big decisions. Learn to let go of control. It is but appropriate to include employees in decision making and you shall be definitely rewarded with more workable strategies. Set an Example: At the same time, one of the most effectual ways to display ability is to lead by example and work hard. A leader must be prepared to shoulder a fair share of the work-load and the #involvement and #commitment he exhibits is undoubtedly infectious and projects him a great team player. The most effective way to earn respect is to lead from the front and help others succeed. Be wary about your conduct, behavior and actions and deeply aware of how it may influence others. Show #conviction: A leader has to have conviction in his/her decisions. If the young manager has done proper ground work and research, then the decision may well be the right one and he/she might be able to stand by and justify the decisions made even when challenged by experienced people. I thoroughly go with this viewpoint “A ‘No‘ uttered from the deepest conviction is better than a ‘Yes‘ merely uttered to please, or worse, to avoid trouble.” Mahatma Gandhi A leader should learn to say ‘NO’ at the right time as indecisiveness is one of history’s greatest leadership killers. Top 25 Leadership Quotes Keep Your Cool in Crisis: Part of being a successful leader is how you handle pressure. In the dynamic business environment you may have to face more challenging and stressful situations and your employees’ judge you based on how you treat such pressure. If you are a man who can see things from the right perspective embracing rationale, your team members will feel reassured by your cool composure, which will in turn develop their trust and confidence in the leader. Manage expectations: Have you ever given a thought about what employees’ expect in you? Communication is a natural gift for leaders and you may very well notice that great leaders are excellent communicators. Here, communication isn’t just talking but a one-on-one, heart-to-heart talk as you would with your close family members. By opening the lines of communication and being accessible, a leader can build a team with people who understand the ##goals and #objectives with ultimate clarity. Present Yourself with Dignity: In Tamil language, there is an age old proverb, “Aal Paadhi Aadai Paadhi”, meaning “#Good Looks Make the Work Easy”. In this modern world, a professional look is mandatory to signify your culture and #personality. A professional, well-dressed businessperson, gives the impression that he thinks that the workplace and the people there are important.” Marilyn Monroe once rightly said “I don’t mind making jokes, but I don’t want to look like...
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