Category: Business motivation

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Business motivation

Manufacturing In-Depth: The Good And Bad Of The Manufacturing Industry

उद्योग
उद्योग

How would you define manufacturing? In popular opinion, manufacturing is the process of combining the efforts of machinery and labour to make wonderful things with the help of raw material to put up for sale and making money out of it. Generally, when the manufacturer is used, it is associated with large scale manufacturing of finished goods. However, India is a developing country and has seen its fair share of struggles with keeping up with the manufacturing business.

Realizing the need to keep up with the pace and establishing India as a global player, the government is on top of its game to encourage businesses to make in India. This piece is written to present to you some advantages and disadvantages of starting a manufacturing business in India so that you can decide if you will be up for the challenge to emerge as a winner.

Let’s Break The Bad News First

The power shortage

One of the biggest drawbacks of running manufacturing is the unavailability of power 24*7. This setback does not allow the operations to run properly during business hours, let alone the smooth operations 24*7. This ultimately affects the efficiency, productivity, and output.

The affected Labour Productivity

The evident lag in supply chain management, transportation, and maintenance takes a toll on the productivity of the labour assigned to operate the machinery or to do the manual tasks.

The Costs of transportation & Logistics

The costs of transportation in India are really high and we all know. It takes very long to transport raw material from one point to another. The condition of logistics makes the situation even worse.

Troubles With IP Rights

One of the biggest issues with having a manufacturing business is the trouble that business goes through while protecting intellectual property.  As if it wasn’t bad enough, the ongoing reforms in India related to IP are only adding to the problem. 

We Saved the Good For The Last

The Government Support

Much needed in these troubled times, the support of the government of India is successfully managing to plant a hope in the heart and a dream in the eyes of the potential manufacturers by giving the message loud and clear in the form of the “Make In India” campaign. This pandemic has forced us all to realise the need to become independent as a nation, regardless of the kind of industry.

Top-Notch Quality Of Production

The recent example of Apple moving its manufacturing unit in India is perfect to back the fact that India ranks pretty high when it comes to the quality of production. Indian manufacturers have always believed in using top quality machines which is not beginning fruitful results.

Cost-effective Labour

Now let’s be specific that hiring labour in India is way more economical than hitting it in any other country. Both India and China have a very large population with a very high number of skilled and unskilled labor, but India has a clear upper hand as the labor cost is way less. The corporate giants have realized this fact and now is the time for the start of the Indian Manufacturing industry to shine.

Pros and cons are two sides of the same coin. If you sign up for something, you can not give yourself a false hope that it will be a bed of roses. Just accept the fact that India is still in a developing phase and will take its own sweet time to get there. If you start now, chances are you will be among the leaders in the coming years. Just promise your hard work and dedication to your business, the rest will fall in [place on its own.

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Business motivation

GST: What Is Goods And Services Tax And What Are The Benefits It Offers?

The change that is now recognized as one of the biggest reforms made in India that changed the entire game of how and what taxes are paid. Yes, We are talking about GST, goods and services tax, that includes many indirect taxes which were imposed by the central government such as excise, VAT, and service tax. GST has helped the MSME sector a lot by simplifying the process of filing returns, hence, decreasing their dependence on the experts who used to help them earlier with filing their taxes.

Components of GST
  • State Goods and Services Tax (SGST): Tax levied by the State Government
  • Central Goods and Services Tax (CGST): Tax collected by the central government
  • Integrated Goods and Services Tax (IGST): Tax applicable on inter-State supply of goods and services by the central government

There are many such benefits and advantages that GST offers, and anybody who is an aware and responsible citizen of India should know about it as it affects not only the entrepreneurs but the customer as well. Some of the main benefits are

Technical Advantage It Offers

The best thing about the introduction of GST is the technology that is involved in the process which is playing to its strengths. It is now way easier to register and to file the returns. There is an online GST portal that will help you with

  • Registration
  • Return filing
  • Application for refund
  • Response to notices
  • Consumer grievances

Uniformity In Taxes

Earlier, when GST was not in existence, there were several other taxes that unintentionally increased the cost of goods and services. However, GST has not absorbed all these taxes such as VAT, Excise, and service tax to rescue the cascading effect they had on the entire process. GST has brought that uniformity that much required and has ultimately resulted in the reduction of the total cost.

The Composition Scheme

GST offers a composition scheme under which small businesses that have a turnover of up to 75 lakhs can benefit by lowering their taxes by making the required changes. This has helped so many businesses with the unnecessary burden of tax and compliance.

Higher Threshold

According to this very beneficial reform, businesses that have a turnover of up to Rs. 20 Lakhs will be exempted from paying the GST. Earlier, with VAT, businesses that had a turnover of more than Rs 5 lakhs had to pay this tax. This change is speaking for the evident relaxation that has been provided to small businesses.

These are only a few of the many changes that were brought into existence to ease up the burden on the needy and to bring transparency in the whole system, Sure, which reform of this magnitude, there were some difficulties that were introduced, but the number and magnitude of the positives it brought can any day overweight the negatives.

 

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Business motivation

Distribution Business: The Business Trend That Has Been Winning The Hearts Of Budding Entrepreneurs Over The Years

Distribution business ideas or as many would call it wholesale business ideas, is one business trend that never lost its charm over the years and has continued to solidify its significance in the Indian market. All entrepreneurs who are trying to build a business from the scratch and have a budget that is a bit stretched could start this business without worrying about the overhead expense/costs that a manufacturer or a retailer has to bear. 

In this article, we will introduce our readers to 4 such business ideas where they just have to carefully strategize, execute, and plan along with keeping eye on the product demand and the capital.

Business That Involves Distribution Of Medical Equipments

The most important thing that this global pandemic of COVID-19 has taught us is that the healthcare system needs to be more organized and needs to be well equipped. Medical and healthcare equipment will always be needed by hospitals as well as patients. Hence, if you have good connections with a good supplier as well as a medical organization, this business will be a profitable affair for you.

Cosmetic And Personal Care Distribution Business

The majority of the population in India that is 65% is below the age of 35.  The millennials in our country, who are all very aware of the beauty and personal care regardless of their gender, have made this business this popular. If you are someone who has an interest in selling these kinds of products and know-how and where you can find your potential retailer, this is the best business to be in. Just remember to be associated with a supplier that only and only makes high-quality products.

Automobile Distribution Business

This has been a popular choice and is continuously growing as a market. We all as a nation are witnessing the development and can clearly see better connectivity in the form of roads in semi-urban and rural areas. With better connectivity, emerges the ease to have your own vehicle for communion. With the growing demand for vehicles, this business is topping the chart as one of the best distribution businesses. However, it will require you to put in a large capital.

Home Appliance Distribution Business

This distribution business has always been in demand and has always experienced good profits because home appliances are something that is now a very common thing to be seen in every household. With new models coming in every now and then, people tend to replace the old with the new and better ones. This cycle has proved to be extremely profitable for the people who are in this business. If this is something that excites you, go for it.

There are sure goods and services that are greatly sought after and one needs to distinguish that item and sell it remarkably. In case that the item wins the hearts of your customers, they will be prepared to follow through on an excellent price for it.

 

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Business motivation

The Key To Successful Marketing Business: How To Make Your Marketing Agency Number One In Market

Very fondly we write in big bold letters in the tagline “the best marketing agency in the market”, but do you agree with this statement? Deep down you know it is very hard to live up to your words and make your customer believe in you and your business. Nonetheless, there are a few traits that make a marketing agency stand out and be known for something it is best at doing. 

To take pride in your business and to make it more successful than ever, we are presenting to you some traits that are often observed in some of the very successful marketing agencies regardless of the scale they operate at. Brace yourself and walk this journey with us to become a part of the successful lot.

The Abundance Of The Creative Juices

The success of a great marketing strategy heavily depends on how creatively the campaign has been designed. Yes, creativity holds the same importance for a marketing firm that marketing holds for any business, You can not survive without it. It is important to have that creative eye to be thriving in this business and to make your marketing strategies not fall into the same old stale ideas that have been used to date.

Execution Is Key

Just imagine you coming with a solid plan that nobody has ever thought of, but the catch is that nobody is experienced enough to execute that idea and turn it into reality. To avoid finding yourself in such a situation, work on coming up with some tried and tested processes that have never failed you in the past and with the help of which you can

Market Yourself Before Marketing Your Customer

How exactly do you think your customer will trust you with marketing their business if your business lacks it in the first place. To help your customer develop faith in you and your business, work on marketing your business first. Let the world know that you are all about setting an example for others. Work tirelessly on building a strong online presence and let the word of mouth work its wonders.

Flexible And Fluid With the Media

Why do you think a client comes to expect of you when he asks you to market his business? He wants his business to market via all kinds of mediums, be it print media, electronic media, social media, radio, and whatnot. It’s okay to have expertise in a particular medium but you should be fluid with working on others as well and kill all the reasons for your customer to get disappointed.

Most of us think that marketing is all about posting social media creatives and increasing brand visibility. No, marketing is much more than that as there is a lot to it than meets the eye. It demands a lot of attention, creativity, execution, and awareness. Although success is mostly driven by your hard work, these traits will surely help you solidify your credibility and image.

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Business motivation

The Yin To Your Yang: What Kind Of Marketing Agency Would Suit Your Business The Best

बिजनेस बढ़ाने के टिप्स
बिजनेस बढ़ाने के टिप्स

When you go all out wanting to put the wings of a perfect marketing campaign to your business that is ready to fly high, you often find yourself in the dilemma if you will be able to find the perfect marketing agency to cover all your needs. There are tons of marketing agencies out there who promise to be full service, however, they often end up focusing on/having expertise in a handful of areas in the marketing department. 

Now It is up to you to decide which marketing agency fulfills your needs and will help you grow your business beyond expectations. This article is all about bifurcating the different kinds of marketing agencies so that you get a little help shaping up your decision to place the last bit of that intimidating puzzle.

The Ones That are experts In Public Relation & Branding

A PR firm or a branding agency is basically responsible to get your business a comprehensive consumer outreach, helps you position your brand in the market, advocates your brand, and plays an important role in crisis management. Most of the businesses turn towards these kinds of agencies in the nascent stage of business to get the perfect help in building personality and setting a tone. 

The Ones That Have expertise in Web development & Designing

These are the kinds of agencies that will help you build a site for your business considering how important it is in today’s day and age to have an online presence. These agencies will not only help you develop a website but also help you develop it further and host it as well. These agencies will help in the growth of your business by working on the functionality aspect as well as on user responsiveness. But there is only so much these agencies can do as they do not SEO acumen to drive more traffic to the site.

The Ones That Are Industry Specific

Now we’ll talk about the kind of marketing agencies that do offer all the services under one umbrella but there is a catch. These agencies will only market a business that belongs to a specific industry. These kinds of agencies are a godsend for those who want to make a name for themself in a particular industry such as recruitment. However, this quality might not all help those businesses who are looking to seek promotion outside the industry too. All in all, if you are looking to market yourself in a specific domain, these kinds of agencies are your go-to as they have tremendous experience in meeting success with other clients.

Full-Service Marketing Agency

Imagine a marketing agency that provides all services and promotes you via all kinds of media that is print, electronic, radio, digital, public relations. Too good to be true right? Kind of, because if an agency promises you a bit of everything, it will compromise somewhere. This compromise could be in the form of agency not giving special attention to the aspects that you want to be looked after thoroughly. Nevertheless, let’s not forget the best part about them that is wonderful for a business that has a lot of services to provide and can cover many industries.

Marketing agencies might be many, but the success of your business lies only and only in choosing the right one that meets all your needs and works as the perfect key to unlock your business for unlimited growth and success.

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Business motivation

How To Figure Out If You Can Bear The Cost Of Starting A Coffee Shop Business

The beautiful and comforting smell of coffee turns into a pungent smell when you realize that you can not fulfill your dream of starting your beloved coffee business because of the lack of funds. We understand it could be shattering to learn midway building the dream castle that you can not afford the cost after all. We have realized the importance of familiarizing you with the concept of calculating the overall cost of starting a coffee shop.

In this article, readers can expect us to include all costs that vary from rent or build expenses to all the cost of supplies. So, gear up to dive in deep into the pool of financial wisdom and crunch those numbers!

It Is Important To Narrow Down Before Calculating The Cost

Let s all establish a fact here that not all coffee shops operate at the same scale or have the same business model. Some coffee shops are full-grown cafes whereas others could be just in the form of more like a simple coffee cart. So, for your ease, kindly narrow down what your coffee shop would look like. Decide if you would like to be a kiosk, Drive-through, or a big coffee bar. Also, A major chunk of your money will go into renting a place or building a place of your choice from scratch. The location that you choose for your business or shop will make a huge difference to your overall cost, hence, it is advisable to narrow down your options for a perfect locale for your business.

The Location

One of the most intimidating costs, the cost of finding a place to let your dreams grow into a full-fledged tree loaded up with fruits of profits and contentment. While selecting a place for your business, you have three options, The first is to rent a shop, for which you will have to arrange amounts for advance payment and other expenses such as commission. If you choose to build a space from scratch, we suggest you consult an architect and discuss all the costs that you will have to bear to take off the interior and exteriors. You can also think of buying a good-to-to space for which you will have to look into the mortgage payment system. Always remember that your monthly expense for the place should not be more than 15% of the monthly profit.

Equipment

This is what will make for a solid foundation for your operations. Make this decision very wisely about choosing the best equipment for your cafe. The cost will vary depending on what scale you are operating your business. The cost to equip a bigger cafe will certainly be more than equipping a cart. 

Raw Material

These are the consumable supplies that will take you to spend double the amount in the initial phase as you would want to keep your shop all stocked and ready for business. We suggest stocking up, in the beginning, there are some supplies that will not exhaust anytime soon. 

Staff And Payroll

It is strictly for those businesses that are planning to hire help for running the operations. You need to figure out how much work and responsibility they will be given and how much you can offer them according to the market standards. Accordingly, calculate the staffing and hiring costs.

Marketing Is A Necessity

It is good to have confidence that you will increase brand awareness solely on the basis of word-of-mouth but we would suggest you to play safe and leave no stone unturned. Look after your online presence and promote yourself with the help of local media to let the world know that you live for business.

Shuttering Down . . . . 

It is difficult, if not next to impossible, to calculate the fixed price of how much it is going to cost to start a coffee shop. However, this guide that we have documented for our user, will definitely help them figure out a rough estimate of how financially prepared they need to be before structuring a solid plan.

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Business motivation

Employee Or Employer: What Would You Choose Between A 9-5 Job And Owning A Business

Business Tips
Business Tips

Which one is better, getting a job or starting your own business? This is one question that no one else can answer for you but yourself. At different stages of life, a person’s preferences change. If someone is loving their job in the twenties, doesn’t necessarily mean they will feel the same way in their forties.

There are various factors that are needed to be taken into consideration while deciding what’s the best for you, a business, or a job. However, there are some advantages and disadvantages that tag along with both of the options that could play an important role as a deciding factor in choosing your career preference.

 

Amazing Perks Of A 9-5 Job

Yes, whenever we talk about the 9-5 jobs, the first thing that comes to our mind is that guaranteed paycheck. These guaranteed and regular paychecks are heavily preferred by those who are the breadwinner of the family. They need to feed their families hence 9-5 is always their first preference that acts as a safety blanket.

Secondly, 9-5 offers you work-life balance which is very important in today’s day and age. Following a fixed timeline/routine allows you to separate your work from your personal life so that neither of them suffers. Last but not least, You get to develop and hone new skills in an organization. You get to work on so many projects, different clients, and colleagues with a different skill set that you end up adding a skill or two to your skillset as well. Hence, a 9-5 job is perfect to broaden your skillset.

Wait, Not All Is Hunky Dory With A 9-5 Job

There are consequences that can not be unseen or turned back towards. If you go for a typical 9-5 job, you will be stuck in a routine for a very long time. Many times, employees don’t even get to advance their careers because they are stuck to doing the same task for ages. Then comes the job insecurity. Let’s be honest, no organization in this world offers a 100 percent job guarantee. This corporate world is so competitive that the moment a better resource is found, the previous will be dispensed. On top of that, there is so much dependency on others to complete even the simplest of tasks.

Supremacy Of Owning A Business

Being your own boss! Yes, these 4 words give you all the feels if you are the one who has always appreciated your freedom and do not work well in a caged environment. If you own a business, you get to enjoy flexible timings and could work according to your priorities. Further the same, you can not take for granted the diverse learning experience you gain while building your business from scratch. Also, who can deny the sense of achievement and the respect for running a successful business gains you amongst your circle, professional or personal. 

But There Is A Fly In The Ointment

Don’t take the decision yet as there are still some things to discuss that might still influence you. When you own a business, you are signing up for working 24*7 and bearing the overwhelming amount of stress that it brings along. As you are supposed to make your business a success, you will find yourself constantly thinking about how to make things better. The funds are also not easy to raise. In order to start or even grow an existing business, raising funds is as important as it is difficult. Also, there will always be a risk of owning a business because you never know what the future holds for you. The Covid-19 Pandemic is the perfect example that forced thousands of businesses to shut down.

Final Word…

The decision is not an easy one to make, as there are several factors to consider. Before reaching a conclusion, do a thorough introspection of what exactly is that you want to pursue because once you are into it, switching might feel like way too intimidated and time taking. So think this through and let yourself know if you are an employee or an employer!

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Business motivation

Manufacturing Business Ideas That Are Gaining Momentum & Will Thrive Beyond 2020

Creating something out of nothing takes almighty power. We are all about this power and this is what we will be talking about in this article. Yes, Manufacturing Business. Please steer clear of the thought that in order to make a difference in the world of the manufacturing business, you need to be a biggie like Jindal Steels. You can be whatever you are comfortable with and contribute to the industry in your own tailor-made ways. 

This motivation behind this article is the various reforms as well as shifts that have taken place in 2020. We will introduce you to some manufacturing business ideas that you think of stepping foot into to satisfy the manufacturer within. Buckle up, the ride is about to begin.

Accessorize, Accessorize, Accessorize

Making fashion jewelry and fashion accessories is slowly emerging into this big industry that is believed to grow tremendously. The reason behind this is that the fashion choices of today’s generation are changing as they want to buy something that doesn’t cost them a fortune as well as is much easier to wear on a daily basis. Some smart entrepreneurial minds out there encashed the opportunity and have met with success. You too can be the next big thing in this industry if only you have the eye for detail and creativity.

Let’s Talk Environment Friendly

It’s high time we as humankind started thinking about the environmental changes that have already started to raise their head. Thankfully, today’s buyer is much more conscious about what they purchase and what they use to carry these environment-friendly products into. Yes, we are talking about environmentally friendly carry bags or high-end fashion bags. If you have the skills to provide quality with finesse, this is the business that you can tap on as the demand is continuously increasing!

Organic Personal Care Products

We all have to learn from the success of Mamaearth that a good quality product that is made naturally and marketed effectively can change the entire game of your business. If you are into health and wellness, you can dabble into manufacturing personal care products that are all organic and natural. Considering there are a lot of brands out there that call them “Completely natural”, the truth can not be far from it. Jump onto the opportunity and give the consumer what they really want and see your business thrive.

Let the Craftsman Take Charge Now

Now that the nation is all Vocal For Local, It is the best time for you to start that local handicraft business that you have always been so passionate about. The cherry on the cake is that the government and a few giants are also actively participating in the campaign by introducing and supporting local businesses that represent Indian craftsmanship. 

We understand that it is easier said than done. Setting a manufacturing business in India isn’t as easy as one would want it to be. However, we Indians have remarkable resilience, vision, and determination to cross any hurdle. Just try to focus on coming up with a viable idea and a perfect execution strategy to back it up.

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Business motivation Finance

India Emerges As Top Choice for Future Investments in the Next 2-3 Years: Survey

New Delhi, October 14: Business in India that have been severely affected by COVID-19 this year, have been limping back to normalcy over the past one month or so. Reports inform that India is believed to emerge as one of the top three choices for overseas investments in the next 2-3 years, a CII-EY FDI survey report showed on Tuesday. According to the survey, India is the first choice for future investments for more than two-thirds of the MNC respondents. The CII-EY FDI survey also showed that 25 percent of the respondents, who represent non-Indian HQ MNCs, view India as the first choice for future investments.

The report said more than 80 percent of all the respondents and 71 percent of the non-Indian headquartered respondents plan to make investments globally in the next 2-3 years. Moreover about 30 percent of companies are planning to invest more than $500 million. About 50 percent of the respondents see India among the top three economies or leading manufacturing destinations of the world by 2025.

According to a report by IANS, the respondents have picked market potential, skilled workforce and political stability as the top three reasons to make India their favoured destination. The other key factors which contribute to the attractiveness of India as an investment destination include cheap labour availability, policy reforms, and availability of raw materials, the report said.

“Recent reforms in the country such as corporate tax cuts, ease of doing business measures, simplification of labour laws, FDI reforms, and focus on human capital have emerged as the top drivers for fresh investments,” the report said. “Non-Indian HQ MNCs have also opined that major investment in infrastructure and 100 Smart cities as well as financial sector reforms will also help establishing India as a favourable destination for FDI,” it said.

The survey brought out some key recommendations sought by the respondents. The report said infrastructure development, faster clearances, and proper implementation of the improved labour laws and labour availability as the top three issues that the companies want the government to focus on, followed by R&D and innovation, and tax reforms. “In terms of trade policy reforms, investors would like to see a faster turnaround time for exports and imports, improved cargo handling, and trade facilitation measures to be in place”, it added.

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Business motivation

Time to Bounce Back With Inspiring Motivational Quotes

Times like this, anyone can be distorted and feel low. When everything and everyone struggling with the loss happened due to an unexpected and uninvited guest, COVID-19. As a business owner, it’s tough to keep yourself motivated, and keep your team motivated can be difficult, at times.

You feel like you are going outside your comfort zone to run a business, but you are still not much satisfied. This dissatisfaction makes you enter the fear of loss web where you fear in all your activities. Entrepreneurship can be rewarding, but you may fail, sometimes before tasting success.

So, here we came up with great motivational quotes by great people, who can motivate you, encouragement, and spark you need to keep you going when things get tough.

Let’s have a look few motivational quotes for you…

When You Are Looking at Entrepreneurship and Success

When you step into business, it’s itself a big decision to make. If you belong to non-business background, it may be tough to explain the situation, feeling you’re going through. They’re a lot of preconceived notions for all entrepreneurs, but they are all not true.

Here are the business success quotes may help you to be motivated-

“You have to see failure as the beginning and the middle, but never entertain it as an end.”-Jessica Herrin, founder, and CEO of Stella & Dot.

“I think a simple rule of business is, if you do the things that are easier first, then you can actually make a lot of progress.” Mark Zuckerberg.

“Chase the vision, not the money; the money will end up following you.”–Tony Hsieh, Zappos CEO.

At Times When You Feel Discouraged

For being successful, one needs to be courageous and persistent. Sometimes while doing your best, results are not the same as expected that should not pull you down. These inspirational quotes on business will remind you that failure and hard times are not bad, all the time. Sometimes failure teaches you a great lesson.

“It’s fine to celebrate success, but it is more important to heed the lessons of failure.” Bill Gates

“Only those who dare to fail greatly can ever achieve greatly.” – Robert F. Kennedy.

“I have not failed. I’ve just found 10,000 ways that won’t work.” – Thomas A. Edison.

For the Women in Business

Being a woman who runs the business, you face different kinds of challenges. You need not only fight for the position in the society but also the norms made only you to follow.

You have a never-ending struggle to balance work and family. You need to good role model at your home and work-life. So, we are here to come down with great inspiring quotes for all the women in the business world.

“You will be defined not just by what you achieve, but by how you survive.”- Sheryl Sandberg.

“Stay true to yourself and your vision. Don’t let anyone person’s opinion move you; listen, but be confident.” -Amanda Kahlow.

“I was once afraid of people saying ‘Who does she think she is?’ Now I have the courage to stand and say, ‘This is who I am.’” -Oprah Winfrey

Sometimes we find a source of motivation from others and sometimes motivation inside you. You just need to believe in yourself and need to bounce back with a positive mindset. Still, if you need little motivation, we have listed a few for you.