Category: Business motivation

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Business motivation Strategy

Bada Business ‘Retail Ka Mahakumbh’ 2020 Live Streaming: Watch Dr Vivek Bindra Share His Business Expansion Strategies During World’s Largest Webinar on Sept 27

Bada Business Retail ka Mahakumbh. (Photo Credit: Bada Business)
Bada Business Retail ka Mahakumbh. (Photo Credit: Bada Business)

Mumbai, September 26: The virtual event of Bada Business’ ‘Retail Ka Mahakumbh’ is all set to begin virtually on Sunday, i.e. on September 27. This is touted as the world’s largest webinar and will be held for a duration of 1.5 hours from 12 noon to 1.30 pm. Bada Business founder Dr Vivek Bindra will guide the event attendees on how to expand their business in the time of economic crisis and COVID-19 pandemic. The event will be broadcast live on Youtube. Interested entrepreneurs and budding professionals can watch the live session at Dr Vivek Bindra YouTube channel.

The event is free for anyone who is keen to gain knowledge that would be imparted by Dr Vivek Bindra during the live session of the virtual event — ‘Retail Ka Mahakumbh’ on September 27. Dr Bindra is considered as one of the top motivational speakers of India and is an inspirational Pathfinder to various high-profile entrepreneurs. All those who are keen to attend the live session of ‘Retail Ka Mahakumbh’, can register at the official portal of Bada Business.

Here’s the Live streaming link:

About Bada Business and Dr Bindra:

Dr Vivek Bindra is Asia’s No.1 motivational speaker and business coach. He is an international motivational speaker, leadership consultant and business coach. He has also been awarded honorary PhD degree. Dr Bindra founded Bada Business (BB) with the vision to empower Indian entrepreneurs & MSME businessmen and businesswomen with the knowledge, skills and network to grow their enterprise. BB offers a world-class education in Hindi language and offers in-depth problem solving for entrepreneurs with its problem-solving courses.

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Business motivation

Emergency Credit Line Guarantee Scheme: What is ECLGS? Are You Eligible? Know All About It

निर्यात कारोबार
निर्यात कारोबार

MSMEs have emerged as the backbone of our economy and no one can deny this. This sector contributes heavily to the GDP and has been actively providing livelihood to many. Due to the ongoing pandemic, this backbone has been hurt quite badly. Considering the current misery of the MSMEs, the government came into action and introduced new schemes and policies that could help these businesses stay afloat.

One such Scheme is ECLGS which stands for Emergency Credit Line Guarantee Schemes which has been introduced by the government to ensure the reinforcement of the financial structure of the micro, small, and medium enterprises across the nation.

What Exactly Is ECLGS?

On the 15th of May,2020, our ministry of finance announced a scheme with a vision to help the MSMEs of India get back on their feet. This scheme was a part of the Rs 20 lakh crore package that was brought forward and executed by our finance minister Nirmala Sitharaman to repair the damage that has been done to this sector in the light of COVID-19.

Are You Eligible?

To avail the said scheme, a Business should have total outstanding credit adding up to Rs.25 crore as of 29th February 2020. Also, the borrower should be able to prove that their business has produced a turnover of Rs 100 crore for the financial year 2019-2020.

 

  • To reap the benefits of the said scheme, a business must be recognized as a trust, partnership, proprietorship, registered company, or limited liability partnership.
  • The Scheme will be available only for existing customers on the books of the MLI.
  • For a seamless execution, enterprises are supposed to be ready with all the GST registration paperwork as well as other business-related documents. However, businesses that do not require GST registration, can also go forward applying for the same.

What About The Rate Of Interest?

Based on the body that is providing you the loan, the rate of interest would vary. We have mentioned below a bifurcation of the various rates of interests at which the loan will be sanctioned to the eligible MSMEs and enterprises.

 

  1. Non-Bank Financial Company: NBFCs have decided to give out loans under ECLGS scheme at an interest rate of 14% per annum and are very strict about not passing the threshold.
  2. Banks And Financial Institutions: The interest rate under the scheme is capped at 9.25% per annum for banks and financial institutions.
  3. MLI (multilateral Institutions): A sigh of relief for the existing customers of MLIs as no fee is to be charged to them.

Don’t Miss Out On These Details

  • All the businesses/borrowers that are thinking to apply for loans under the respective scheme must know that there is a 1-year moratorium on the principal amount that you will have to repay.
  • If you don’t repay the entire principal amount within the moratorium period, the rest of the amount will have to be repaid in the overall tenure of 3 years dividing it into 36 monthly installments.
  • Please be wary of the fact that the borrower will have to open a separate account for this loan altogether. The borrower will not be allowed to use any account that has been opened and already used to serve other purposes.

This scheme has the right potential to help out the MSME sector put an end to their misery and regain financial stability. All in all, the government has taken the necessary step to fill the gaps, now it’s up to the MSMEs if they want to grab the opportunity to strengthen and solidify their position in the market. 

 

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Business motivation

Business Development Tips for Successful Business

एमएसएमई पंजीकरण
एमएसएमई पंजीकरण

Learn, Grow, and Get Success. Any company growth and value depend on business development strategies. Though, when you ask different people about business development, you likely to get n number of answers which vary from each other. That’s due to the role of business development develops along with the company growth and size.

But this is also true that business development can be one of the quickest ways to grow any business. It majorly requires focus, planning, and understanding about your company. When we talk about organizational growth, business development functions as the thread which ties together and helping a business to expand and improve its sales, revenues, and brand awareness.

We have mentioned a few tips for business development, which will guide you to hit the ground running.

Competition Understanding

Knowing the name of your competitors is not enough for you and your brand. With this, you need to evaluate and understand what they are offering. Why it’s important to know? That will help you to differentiate yourself from them. Analyze and apply what can make you stand out in the crowd.

Customer Is Everything

Creating products, or services that sell faster it is possible if only you know the needs of your customer and understands what they are expecting. Taking feedback is utterly significant, for improving the product or services. Plus, it helps you know to understand what is needed for improvement.

Building Trust and Adding Value

One most crucial factor to remember, don’t act like you want to earn money from them instead of it, winning the heart of your customer. Growth of business can happen by adding value to every relationship you build with your old and new customers.

This mindset and strategy, build trust and goodwill, which are your calling card for business development. But building trust takes time as a customer believes how you represent your brand and speaks through it.

Don’t Let Your Website Slip

Is your website updated as per the current time? It’s not wrong to say the maximum of your customer may start with your website before buying your product. The less attractive website certainly, results in missed opportunities for gaining a new customer.

If we talk about the content of your website, it should contain all information about your brand with full details of your product and services. Don’t forget to acknowledge your new visitor who visits your website with rewards. You can call this passive way to implement for business development it’s better for your brand, and it doesn’t cost you much.

Stay up to date

Time change with that pace changes, especially online. You need to complete up to date, with the change of time and developments for keeping yourself ahead of the competition. The customer follows the trends and looks for something new if you don’t update yourself, then, there is no freshness in your brand.

Business development is a significant component of any business growth. We placed out some crucial and easy to apply tips, that can be implemented easily, and help you to grow. Handle one problem at a time and continuously implement strategies to build your company, you’ll get the results you want.

 

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Business motivation

Small But Smart: 4 Business Ideas for Starting Small To Go Big

A business might be small but the dream is always big and special and that is to make a mark for yourself in the entrepreneurial world making a difference with your efforts! It is said that to reach somewhere big, you need to start small. So, why not start with establishing a small business of your own to test the waters? In India, there are plenty of opportunities for you to bring the best business ideas to existence and earn a decent living out of it.

 

One might get confused as to what business idea would work out for them as there are many business ideas out there to consider. Worry not, always choose the one that matches your niche as well as the budget! Choose the one that ignites the fire within you and invest in it 100% of your blood, sweat, and hard work to pass this test with flying colors. Worry not, we have got you covered. We will share a few ideas with you that might have your interest, stay tuned.

It’s The Matter Of Band-Baja-Baraat

Yes, wedding planners are what we are referring to. India is the land known for its larger than life weddings. People these days have generous budgets for organizing a wedding, however, sometimes struggle to make it happen as efficiently as they want. If you have to notch management skills and an eye for creativity, your search ends here.

Everybody Say Cheese 

Professional photography is another thing that has emerged as one of the most profitable businesses in recent years. Everybody wants to capture the special moments of their lives in the most special manner possible and this is where professional photographers come into the picture. If the idea “clicks” with you, you are just a DSLR camera away from starting your photography business.

Win Them Over With The Edible Love

This profession/business has helped many women/men who are extremely skilled in culinary art get their act together and make the best use of their cooking skills. If you get into this business, your primary concern should always be to serve the food hot and fresh to your clients without any delays. Once you get a hang of it, you can add team members to expand the business and go big.

Be There For The Little Ones

Dear readers, Daycare is one of the businesses that will help you contribute to the progression of this society and we will tell you why. Many women after having children are left with no other option than to leave their job and care for their baby 24*7! In recent years, these daycare services have emerged as a big helping hand for such mothers/families who do not have anybody else to look after their angels. If you love being around children, this is it for you. Help women be their most productive selves at work, while you give a warm and loving environment to the apple of their eyes!

At the end of the day, every business, regardless of its size, comes with a few advantages as well as consequences. It all boils down to what business idea do you find worthy of dealing with the consequences that tag along! Nonetheless, in the process, never lose faith in your capabilities as this faith is what will help you achieve your goal to become an entrepreneur.

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Business motivation

MSME Loans: A Basic Guide To Know It all

As daunting as it sounds, the process of arranging an MSME loan for your new business is not as complicated as it is generally perceived to be. All it requires is well-conducted research. Once you decide on a new business idea that you want to invest your hard work in, it becomes a primary concern to think about how you will raise or gather funds for the same. 

For an entrepreneur, we think it’s the best idea to stay aware of all the loans, schemes, and policies that the government and other bodies actively introduce to the common people to ease off the financial burden that tags along with establishing a new business.

Now that the government is marching ahead to the future to make India stronger than ever, the timings could not have been better for the entrepreneurs to start their business and make the most of these schemes. This article is the perfect read for all who are trying to apply for an MSME loan for their dream businesses. 

You Are Just A Few Steps Away From That Much Needed Loan

  • Firstly, register yourself as an MSME by visiting  udyogaadhaar.gov.in which is a national portal.
  • You will be asked to provide basic details like your name and the aadhaar number. Submit them and validate them with the help of an OTP.
  • Now you will see on your screens an application form which you will have to fill. Upon submitting, just to make sure that you have entered all the details correctly, the system asks you to recheck everything. Once rechecked, click “OK” to confirm.
  • The system will finally ask you to fill in the OTP that you will receive on the number that is linked to your aadhaar card.
  • Note down the registration number somewhere safe.

Always Be Ready With Those Documents

As basic as it may sound, it really comes in handy to keep the documents mentioned below ready with you just in case. These documents are

  • Your application form
  • Identity proof for which you can use your PAN card, aadhaar card, driver’s license, voter ID, etc.
  • An address/residence proof for which you can use your electricity bill, rent agreement, trade agreement, etc.
  • Some financial documents such as your ITR papers, bank statements, balance sheets, business turnover, etc.
  • Business proof which could be supported by Business Registration, Memorandum, and articles of association, etc.

Business Specific Documents

Apart from all of the above-mentioned documents, there are some other things that are still left to be taken care of. To avoid the last-minute chaos, we are sharing with you these important documents that are specific to the type of business you have.

  • Companies will need to gather the Certificate of incorporation, memorandum of association, articles of association.
  • Partnership firms will have to arrange the Registration certificate, partnership deed.
  • Private limited companies are supposed to be ready with a Registration certificate, articles, and memorandum of association.
  • Sole proprietorships will have to check for a Registration certificate, ITR, or another proof of business identity. 
  • Self-Employed Professional (SEP), be ready with proof of your qualifications. For self-Employed Non-Professionals (SENP), proof of business will be more than enough.

Which Banks Are To Be Approached?

State Bank of India, HDFC Bank, Allahabad Bank, Central Bank of India, ICICI Bank, Bajaj Finserv, Oriental Bank of Commerce, Union Bank of India, and Indian Bank are some of the banks who are providing MSMEs business loans to fulfill their dreams. Always keep in mind that every bank has its own ways to figure out the rate of interest on which a business is supposed to repay the loan. Hence, we would advise you to do your research and see for yourself which bank is meeting your financial needs.

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Business motivation

Businesses Of Future: 3 Ideas That Are Going To Hit The Jackpot

“For the canny and the farsighted, vast deficits also create vast opportunities,” says Simon Dunstan and we could not agree more! It is very important to be farsighted with your approach as an entrepreneur for the opportunities are many, if only you can filter out the booming sectors and the business ideas of tomorrow to be prepared in advance.

The future business ideas are generally far too out there and are often ridiculed and looked down upon by many just because of their low viability quotient in the present times. However, we all have witnessed how some ideas that sounded stupid back then have worked wonders when actually were worked upon. The perfect example would be Tesla, how the idea was discouraged, and how it became a giant success.

Try and wrap your head around these new and unique future business ideas that you can prepare yourself for.

The Future Belongs To Drones

Yes, you read that correctly. The future holds many business opportunities around the world which involve drone technology. Nowadays the demand for drones to deliver the products directly to consumers has been dramatically increasing as a result of social distancing norms and the paranoia of many consumers. Safety, these days, has become the utmost priority of the consumers and businesses are leaning towards drones to cater to these needs. 

These drones will not be useful in COVID times, but also prove to be quite helpful during an unfortunate natural disaster or in reaching remote areas. We advise you to do your homework on drone technology and if it is something that interests you, you are sorted for a very long time.

Save The World From Cyber Criminals

With time, many businesses have gone online to grow at an exponential rate as today’s consumer relies heavily on online commerce. When businesses go online, they almost always need a website. With these many websites around, hackers have become very active these days and have not been shying away from crashing the site and exporting money in lieu of it. To tackle these attacks, we do have a few agencies but there aren’t enough. If this is your niche, this could be the best business for you to be in as the competition will be low, you will have the upper hand in pricing, and the future will be brighter than ever.

Encash The Cashless Generation

In today’s day and age, almost everybody has a smartphone and can access the internet. With this facility available to most of us,  we are slowly and steadily shifting towards a lifestyle where even the smallest of the purchase will be made online. As online transactions have emerged as the need of the hour, a few groups have already marked their presence and are doing very well as e-wallet service providers. However, as there are still new people joining the bandwagon every single day, this business will bloom even further. Now that the cost of developing an app has been brought down drastically as there tons of skilled freelance developers out there, you can start this business with a small investment, if it interests you!

We can only suggest the destination, but it’s for you to cover the journey and make a difference with your efforts. Don’t let others make you think otherwise of an idea that you know you are confident of. Just make sure that idea solves a problem that might look small today but take a bigger form tomorrow and the rest will fall into place!

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Business motivation Strategy

Visa, IFundWomen Announce Grant Programme to Empower Women Entrepreneurs in India

Entrepreneur (Photo Credits: Pexels)

Mumbai, September 21: With an aim to empower women entrepreneurs in India, Visa along with its global partner IFundWomen on Monday rolled out a grant programme to boost the morale of women entrepreneurs across the country. According to a report by IANS, the digital payments technology leader will seek applications from women entrepreneurs across all sectors till October 20, 2020. IfundWomen is the go-to marketplace for women-owned businesses. The applicants need to submit details about their business and online presence, along with a short video about their business to www.ifundwomen.com/visa-india. Three winners will be selected and receive grants of Rs 7 lakh each and training from leaders within the Visa and IFundWomen network.

Women-owned businesses constitute around 14 percent of the total entrepreneur base in India. To spread the word, Visa said it has partnered with FLO (the ladies’ wing of FICCI) and Instamojo as digitisation partner for the programme in the country. T R Ramachandran, Group Country Manager, India and South Asia, Visa, said, “We want to see this number increase but our interactions with women entrepreneurs show that access to capital to fund, run and grow their businesses remains a challenge”.

The Visa and IFundWomen grant programme in India, the first outside of the US, “aims to boost female entrepreneurship and empower budding businesswomen through our network, guidance, financial support and resources to help achieve their dreams”, he added.

Visa’s partnership with IFundWomen is specifically designed to help women entrepreneurs secure the funding they need through a series of grants. This year in June, Visa had committed to supporting 50 million small businesses globally to power recovery and enable them digitally. In August 2020, through the first India edition of Visa Everywhere Initiative, it awarded three fintech startups with monetary awards and technological support to take their solutions to market, the company said.

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Business motivation

Trending Business Industries That Are Both Viable And Profitable

बिजनेस मॉडल
बिजनेस मॉडल

Have you ever thought about what life would look like after 2020? Imagine it to be a plethora of opportunities that you, as an entrepreneur can encash. If we talk about the changes, a lot of differences have been observed and we can expect more of them as consumer behavior has been changed drastically and so has the market. Also, when you think of beginning another business, you ought to consider the potential ventures your organization may have the best chance to contend in. Based on these changes and many other factors, you can decide which trending business idea is the one for you. We bring to you a list of 4 such industries that are the most promising for startups in 2020-2021.

Health Is Wealth–Indeed

It should not come as a surprise to anyone as we declare health and wellness to be the industry that is at its all-time high. Due to the ongoing pandemic, everybody across the globe has become wary of their health and well being more than ever. This is the reason why this industry in particular is booming and could be one of the best opportunities for you to set your business in. To make your mark in this industry we would suggest you all to think differently and dig deep into biotechnology, elderly caregiving, personal training, etc.

Green Is What? Good

People are very conscious these days of not using anything that may harm the environment. This is an extremely welcoming change and could prove to be an equally wonderful opportunity for entrepreneurs to set their foot in. You can offer your consumer base products that are high in quality, are environment friendly, and support the sustainable lifestyle that today’s consumer is shifting towards. If you are one of those who do not believe theories, we will bring you the facts that will certainly change your mind. Do you know that Sustainable product sales are estimated to reach $142.4 – $151.1 billion by 2021? That’s huge. Act smart and grab this opportunity as it is not only promising for you, but for the environment as well.

Technology Is Here To Stay

Technology has made it clear to the world that without it being efficiently used to grow further, the progress is out of the question. All the popularity the technology has gained in recent years has only proved that it can be a game-changer to help a business grow by leaps and bounds. Giants like Apple, Samsung,  and Google have their entire business set on science and technology. The technology industry across the globe is estimated to grow to $5.2 trillion in 2020 at an amazing rate of 3.7%. Also, it is noteworthy that 44% of the businesses across the globe are planning to increase their budget to spend on technology. 

Take Control And Get On The WHEELS!

In today’s day and age, people heavily rely on transportation, to be more specific, public, and private transportation. This statement backs our statement that the transportation businesses are experiencing a surge and would be the perfect industry for you to be in if this is your niche.  We all have witnessed the sharp rise in the number of cabs that continuously do rounds on the roads in many of the big cities as it has trend out to be a profitable business for many. You can think of initiating a startup based on app-based taxi service, rental car business, truck transportation services, and many more such ideas. 

A plethora of great business opportunities is waiting for you out there, if only you have the eye to identify. Take inspiration and motivate yourself to be a great leader who is very observational when it comes to the changing market trends, a shift in consumer behavior, and the newest trends doing rounds in the field of science and technology. Always remember to not resist the change for it is the only thing that will keep you relevant and in business.

 

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Business motivation

Women Who Mean Business: 4 Powerful Quotes From 4 Brilliant Women Entrepreneurs

Women are not only capable of running the world, they have enough potential to rule it too! Women these days have been smashing patriarchy by showcasing their immense talent and amazing productivity across the world. Women are more productive than men, according to new research, which officially disregards the thinking and mindset that women just belong in the kitchen.

We are presenting to you some brilliant motivational quotes from some of these inspiring women which are nothing less than the pearls of wisdom to inspire the entrepreneur in you to break the barriers, push the boundaries, and shatter that glass ceiling.

Sheryl Sandberg, Facebook CEO, Author

“Knowing that things could be worse should not stop us from trying to make them better.”

Do yourself a favor and stop stressing out. It is not at all healthy to be thinking about how bad things could get when things are already going rough. It will rob you of your capability to think straight and make things better. Always have a positive outlook and never hesitate in giving yourself that much needed second chance.

Estee Lauder, Co-Founder of Estee Lauder Companies

“I have never worked a day in my life without selling. If I believe in something, I sell it and I sell it hard.”

If you don’t believe in your capabilities, how do you expect the world to see right through you? The same goes for the products/services your company sells. How can you expect the prospect to believe in your product, when you, yourself, feel disconnected from them. Save yourself the agony and create something that you would love to purchase without having any second thoughts. Estee Lauder believed the same and became one of the richest and self-made female entrepreneurs in the USA.

Anne Sweeney, Co-Chair of Disney Media Networks

“Define success on your own terms, achieve it by your own rules, and build a life you’re proud to live.”

One size doesn’t fit all! The same goes for the dream. Everybody has dreams which are tailor-made just for them. Everybody has different goals, different ways to achieve that goal and possibly different outcomes. A person who drives a motorbike can not be compared to the person who has access only to a bicycle. Don’t let others’ success or failure influence your journey to achieve your goals and become successful. Set your own path, take the road less traveled, and conquer this world on your own terms.

Kiran Mazumdar Shaw, Founder, Biocon

“Being a woman does not have to be a handicap or a disadvantage. Being a woman has actually helped me gain confidence.” 

Listen to what our very own Kiran Mazumdar Shaw has to say! Telling constructive feedback apart from the destructive is an art in itself. Kiran Mazumdar Shaw suggests all the women entrepreneurs/wantrepreneur to turn a deaf ear towards those whose only job is to bring you down by telling you how different you are just because you’re a woman. Take it from the professional, work on your strengths. Work on your strengths and use them to your advantage.

No matter the gender, if you have the power to dream it, you have the power to fulfil it as well. Don’t let the stereotypes come in the way of your success or demoralize you in any way. These inspiring women followed the same and now are ruling the entrepreneurial world. 

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Business motivation

Motivational Thoughts To Inspire The Entrepreneur Within

Ever given a thought why motivational speaking has evolved into a separate industry altogether? Have you ever thought about what importance does motivation hold in your life? Turns out, motivational thoughts/quotes are something that is required by all and everybody who wants to outperform and excel in their lives. Be it a student or an owner of a business giant, everybody needs motivation. 

If we talk specifically about the entrepreneurial world, it is filled with highs and lows, success and failure, encouragement, and discouragement. Just imagine if Steve Jobs wasn’t as motivated as he was, how were we supposed to enjoy the excellence that apple is? If Sundar Pichai would not have received the right kind of motivation at the right time, none of us would be surfing the internet with the brilliant browser, google chrome.

Join us on this inspirational roller coaster, where we present to you some brilliant motivational thoughts that will ignite the fire within you to win the world over.

“Don’t let the noise of others’ opinions drown out your own inner voice.” – Steve Jobs

Steve Jobs has tried to convey a very important message here for all that it is extremely important to mute everything else and listen to what you are all about. Pay attention to the thoughts you produce and generate. It is important to realize your true feelings to explore the real you and to save your individuality. What you are capable of thinking, nobody else in the entire world will be able to generate the same thought process. In this fast-paced world, don’t forget that accepting yourself is the key to listening to your inner thoughts and feelings while paying attention to what you are all about and how you can make a difference.

“Take criticism seriously, but not personally.” – Hillary Clinton

This is one quote that hits hard. When you take an initiative that is always under scrutiny, it could be one of the toughest tasks to handle feedback that you receive on a very regular basis from people around you, be it your boss, investors, managers, or even your family for that matter. It is a blessing in disguise to receive constructive criticism from the other end of the table as it is undoubtedly the most efficient way to repair the damages and frow for the betterment. But there will be times where you can’t help but take those harsh words to your heart and let them not only hamper your productivity but ruin your confidence as well. But once you figure out how to master telling destructive criticism apart from the constructive one, it will become a cakewalk for you to put that positive feedback to good use. 

“If you’re going through hell, keep going.” – Winston Churchill

We know it is easier said than done, but then what do you think is the best option other than keeping the hope alive to see the light at the end of this metaphorical tunnel? We know it is very hard to keep going in the toughest of times but it is way better than just playing the blame game, succumbing to the pressure, and giving up hope. We do not ask you to look at the possible outcomes of this journey, but we surely do ask you to keep taking the baby steps to the world that is full of positivity, hope, and life.

Always remember that consistency and hard work have the ability to solve even the biggest of the problems in this world. Just try and take each day as it comes and deal with one problem at a time.