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	<title>Entrepreneur India &#187; Insights</title>
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	<link>http://entrepreneurindia.in</link>
	<description>Magazine</description>
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		<title>Common Startup Mistakes</title>
		<link>http://entrepreneurindia.in/common-startup-mistakes/10645/ </link>
		<comments>http://entrepreneurindia.in/common-startup-mistakes/10645/ #comments</comments>
		<pubDate>Sat, 24 Dec 2011 06:14:31 +0000</pubDate>
		<dc:creator>Team Entrepreneur</dc:creator>
				<category><![CDATA[Insights]]></category>
		<category><![CDATA[Richard Branson]]></category>
		<category><![CDATA[startup]]></category>
		<category><![CDATA[Virgin Group]]></category>

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		<description><![CDATA[Here’s a look at how to avoid the most common ones entrepreneurs make when starting.
]]></description>
			<content:encoded><![CDATA[<p>Making mistakes is part of the process of building a company; quickly recovering from them is what’s most important. It’s all part of the adventure of entrepreneurship, which will require all of your stamina, drive and determination.<br />
But your way forward is not entirely uncharted: When you notice an opportunity that has never occurred to anyone else, there are certain steps to turning your vision into reality. You must formulate an innovative business plan, find funding, hire the right people to carry out the plan, and then step back from your role in the business at exactly the right moment.<br />
Let’s take a look at these steps, and also at ways to avoid some of the most common mistakes new entrepreneurs make.</p>
<p><strong>Step 1: Stay on Target</strong><br />
A mistake often associated with the first step is signaled by an entrepreneur’s inability to clearly and concisely convey his idea. You have to be able to generate buy-in from investors, partners and potential employees, so nail down your “elevator speech”—what you would say if you ran into an important potential investor in an elevator. Try to refine the essence of your concept into just 140 characters. Once you’ve done that, expand your message to a maximum of 500 characters. Remember, the shorter your pitch is, the clearer it will be.<br />
An associated error is lack of focus. If your start-up has been tagged as “the next big thing,” the adrenaline rush that comes with building buzz can lead to impetuous decisions and a loss of a sense of purpose. Clearly define your goals, then establish a timeline.<br />
Getting too far ahead of yourself is also dangerous. If your product or service is still on the drawing board, don’t get sidetracked by plans for future versions. Looking two or three years ahead is best, but the nature of your business and feedback from your investors will help you determine how far ahead you should plan.</p>
<p><strong>Step 2: Be Realistic About Costs</strong><br />
Don’t shortchange your start-up when estimating the funds you’ll require. Keeping expenses under control is vital, but don’t confuse capitalization with costs.</p>
<p><strong>Step 3: Hire People You Need, Not Like</strong><br />
As tempting as it may be to staff your new business with friends and relatives, this is likely to be a serious mistake. If they don’t work out, asking them to leave will be very tough. Take full advantage of the knowledge pool you’ve created; when a problem comes up, remember nobody has all the answers, including you. One of your goals should be to find a manager who shares your vision, and to whom you can someday confidently hand the reins to carry out the next step.</p>
<p><strong>Step 4: Know When to Say Goodbye</strong><br />
A great entrepreneur knows when it’s time to leave the CEO role. It’s seldom easy, but it has to be done: few entrepreneurs make great managers. In my case, managing the daily operations of a business simply isn’t in my DNA.  Stepping back doesn’t mean turning your back on your business. Founders shouldn’t hesitate to re-insert themselves into their businesses when necessary—look at Larry Page, who temporarily returned to the CEO role at Google in April. That said, I had to laugh when I heard this news, wondering how many managers at Virgin businesses had thought, “Wow, I hope this doesn’t give Richard any ideas.”<br />
<em>RICHARD BRANSON is the Founder of the Virgin Group.</em><br />
<em><strong>©Entrepreneur Inc. All rights reserved</strong></em></p>
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		<title>Words in Entrepreneurship</title>
		<link>http://entrepreneurindia.in/words-in-entrepreneurship/10637/ </link>
		<comments>http://entrepreneurindia.in/words-in-entrepreneurship/10637/ #comments</comments>
		<pubDate>Sat, 24 Dec 2011 06:04:24 +0000</pubDate>
		<dc:creator>Team Entrepreneur</dc:creator>
				<category><![CDATA[Insights]]></category>
		<category><![CDATA[entrepreneur]]></category>
		<category><![CDATA[mentor]]></category>
		<category><![CDATA[Nandini Vaidyanathan]]></category>

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		<description><![CDATA[A sneak peek at the disconnect between an entrepreneur and a mentor.
]]></description>
			<content:encoded><![CDATA[<p>I have the privilege of meeting all kinds of entrepreneurs. What I find sometimes amusing and oftentimes perplexing is that they all use fancy words with so much panache that it leaves me speechless! Here’s a tongue-in-cheek look at a few examples:</p>
<p><strong>Entrepreneur </strong><br />
<strong>(How I love this animal!)<br />
Dictionary says:</strong> One who organizes and manages an enterprise, especially a business, with considerable initiative and risk.<br />
<strong>Entrepreneur says:</strong> A person running a business, the way he chooses to, without being answerable to a boss, coming to work when he pleases, making money and keeping it all.<br />
<strong>Mentor says: </strong>A selfish person who doesn’t like the way the world around him is, sets out to change it and in the process leave his footprint.</p>
<p><strong>Serial entrepreneur<br />
(The word reminds me of a serial killer!)</strong><br />
<strong>Dictionary says: </strong>One who starts one business after another by successfully exiting the previous one.<br />
<strong>Entrepreneur says:</strong> A person who starts a company, gets bored with it after a point,  sells it, shuts it or forgets it.<br />
<strong>Mentor says: </strong>A person who likes to validate how often he can keep repeating the same mistakes or how creatively he can make new mistakes!</p>
<p><strong>Customer<br />
(Has discovered lately that he is actually the king!)<br />
Dictionary says: </strong>One who buys goods and services.<br />
<strong>Entrepreneur says:</strong> Any sensible person who buys my product because I know better what is good for him.’<br />
<strong>Mentor says:</strong> A person who makes or breaks<br />
an entrepreneur.<br />
<strong><br />
Venture Capitalist<br />
(Never have two alphabets sounded more ominous!)<br />
Dictionary says:</strong> Private equity investment in a business which does not have access to capital market.<br />
<strong>Entrepreneur says:</strong> Capital which announces that I have arrived to the rest of the world.<br />
<strong>Mentor says: </strong>Capital that you will raise when you don’t need it, not when you’re desperate for it.</p>
<p><strong>Profit<br />
(Used to be an ugly word with all failed capitalists!)<br />
Dictionary says: </strong>Monetary gain resulting from employment of capital in any transaction.<br />
<strong>Entrepreneur Says:</strong> The difference between over invoicing and under booking of costs.<br />
<strong>Mentor’s definition:</strong> The meeting point between your vision and execution.</p>
<p><strong>Mentor<br />
(A new species troubling Darwin in his grave!)<br />
Dictionary says: </strong>A wise guide, adviser, preceptor.<br />
<strong>Entrepreneur says: </strong>Not sure what he’s supposed to do but is expected to wave his magic wand and make the negative effect of all mistakes vanish.<br />
<strong>Mentor says:</strong> One who will never claim he knows it all, is willing to share what he knows and learn what he doesn’t, will open doors for you, and choose the good of your organization over you.</p>
<p>These words define an entrepreneur’s existence, yet there seems to be such serious disconnect in perception. India badly needs entrepreneurship education today.</p>
<p><em>Nandini Vaidyanathan teaches entrepreneurship in several ivy-league business schools across the world. Her company, CARMa (www.carmaconnect.in), mentors startups, family businesses and mature enterprises. She is the author of bestseller Entrepedia—A Step-by-Step Guide to Becoming an Entrepreneur in India.</em></p>
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		<title>Investment in Real Estate</title>
		<link>http://entrepreneurindia.in/investment-in-real-estate/10631/ </link>
		<comments>http://entrepreneurindia.in/investment-in-real-estate/10631/ #comments</comments>
		<pubDate>Fri, 23 Dec 2011 12:30:00 +0000</pubDate>
		<dc:creator>Team Entrepreneur</dc:creator>
				<category><![CDATA[Insights]]></category>
		<category><![CDATA[Ranjeet S. Mudholkar]]></category>
		<category><![CDATA[real estate]]></category>

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		<description><![CDATA[Know how owning a property can help diversify your investment portfolio.
]]></description>
			<content:encoded><![CDATA[<p>Real estate constitutes the largest chunk of the net worth of an individual and is a stable, income producing and appreciating investment proposition. It has an in-built tax efficiency for a loan availed for acquisition and construction of property and is a supplement to retirement stream by way of reverse mortgage. Also an asset for passing on to the next generation, real estate requires huge investment. Hence, borrowing funds from banks or housing finance companies becomes inevitable. Investment in real estate is reasonably safe with regard to the volatility of returns. The returns also beat the rate of inflation in the long run.<br />
The ease with which finance is available, coupled with tax benefits in servicing, props up the demand for housing. The growth of the real estate is also highly influenced by economic cycles. The business environment of the period has a significant impact on the demand and rental value of commercial properties. However, one must be cautious about when one enters a cycle as exposure at the peak and just before downturn or consolidation may result in large investment with neither proper income yields nor suitable exit route.<br />
Home loan borrowers are entitled to tax benefits under Income-tax Act, 1961, Section 80C for repayment of principal up to Rs.1 lakh, and under Section 24(b) for payment of interest up to Rs.1.5 lakh. The above tax deduction limit under section 24 is applicable for self-occupied house property. For let-out or deemed-to-be-let-out house property, there is no upper limit for the paid interest deduction from total income. For deemed-to-be-let-out property, a notional rent is considered as per applicable provisions and the tax calculations are done in the similar fashion. The tax provisions also favor, apart from interest expended on loan, a 30% standard deduction towards repair and maintenance expenses of the income generated/notional income from such a property minus municipal taxes. Under DTC (to be notified shortly), benefit under Section 80C may be withdrawn.<br />
The housing loan can also be availed in joint names, usually with your spouse, thus providing tax benefits to both. With the introduction of reverse mortgage, the senior citizens owning  a property can have a comfortable retirement with a constant inflow of income. The property can be mortgaged to a bank or HFC that pays regularly.<br />
Reverse mortgage guidelines state that one of the joint holders (usually spouse) has to be above 60 years (with the other over 55 years) and the maximum term for the facility is 20 years. Also, up to 60% of the valuation amount is considered for annuity and a lump sum payment, restricted to 25% of value.<br />
There are certain inherent disadvantaged, too, for realty investment, illiquidity of investment being one of them. Others are high transaction and registration costs, inefficient price discovery, low transparency and title verification. A legal advice and expert’s scrutiny are required before entering a property deal.<br />
Overleveraging may lead to a debt trap and a high loan repayment to income ratio may hamper investments for other life goals. Careful long-term planning of finances, especially in consultation with a certified financial planner or CFP practitioner is advisable when entering real estate investments. Beyond the physical ownership of real estate, an exposure by way of real estate mutual fund schemes, real estate investment trusts and dedicated private equity funds are options which are evolving and are worth consideration only on experts’ advice.</p>
<p><em>Ranjeet S Mudholkar is the Vice Chairman and CEO of Financial Planning Standards Board India. The views expressed here are personal, and do not necessarily represent that of the organization.</em></p>
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		<title>Crisis Counseling</title>
		<link>http://entrepreneurindia.in/crisis-counseling/10649/ </link>
		<comments>http://entrepreneurindia.in/crisis-counseling/10649/ #comments</comments>
		<pubDate>Thu, 22 Dec 2011 06:18:52 +0000</pubDate>
		<dc:creator>Team Entrepreneur</dc:creator>
				<category><![CDATA[Insights]]></category>
		<category><![CDATA[Christopher Hann]]></category>
		<category><![CDATA[Crisis management]]></category>

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		<description><![CDATA[How do you maintain your clients’ trust while managing a crisis?
]]></description>
			<content:encoded><![CDATA[<p>The best approach, of course, is to avoid the crisis in the first place. But in the real world (e.g., Enron, BP, News Corp., et al.), that’s not always possible.<br />
If a crisis hits your firm, says Jonathan Bernstein, who founded Sierra Madre, Calif.-based Bernstein Crisis Management 17 years ago, take the lead in making your case to the public. And he’s not talking about just covering your  you-know-what. Be frank about your problems by providing answers even before your critics start asking questions.<br />
“In the absence of communication, rumor and innuendo fill the gap,” Bernstein says. “Either you communicate or other people will communicate for you.”<br />
Typically, says Bernstein, small and midsize businesses, those that can least afford to suffer a crisis, are more prone to face one. A Fortune 500 firm can weather public opinion storms with armies of PR consultants. That option is not available<br />
for, say, the sandwich shop whose health code violation just made the front page of the local paper. That’s why Bernstein believes even small businesses should spend the money required to put a crisis plan in place. “It’s not an expense,” he says. “It’s an investment.”<br />
The failure to plan tops Bernstein’s hit parade of crisis management mistakes. A close second? The failure to provide backup for critical suppliers, key personnel, computer systems (off-site, please) and pretty much any piece of your business that you can’t live without. He proffers this food services scenario: “If all the lettuce from a particular area is deemed to<br />
be suspect, and that’s where you get all your lettuce, what are you going to be putting on your burgers this week if you don’t have a backup supplier?”<br />
Bernstein also insists that entrepreneurs prepare short- and long-term strategies for online crises. (He’s such a techie that Craig Newmark, the founder of craigslist and craigconnects-the latter a Bernstein client-calls him an “alpha nerd.”)<br />
The short term: If critics launch an online campaign against you or your product, prepare a strong response for clients who ask about the disapproving chatter. “Tell them about it upfront,” Bernstein says. “Tell them it’s negative and inaccurate information, and tell them the truth.”<br />
The long term: Create as many online “points of presence” as possible-through websites, blogs, LinkedIn, Facebook, Twitter, whatever. This will help you raise your voice while diluting your critics’ impact in any online discussion. According to Bernstein, it’s all about search engine optimization.<br />
For example, he says, three factors play leading roles in determining which websites get listed on page one of a Google search: content that’s relevant to the search terms you want<br />
to be associated with, content that is regularly refreshed, and ultimately, the number of relevant links from other sites on to your site.</p>
<p>Ultimately, be prepared to stick to your onlinestrategy over the long haul. “It can take up to six months to really make a difference,” Bernstein says, “which is why you also need the short-term approach.”<br />
<em>Christopher Hann is a contributing writer for Entrepreneur.</em></p>
<p><em><strong>©Entrepreneur November 2011 by Entrepreneur Media, Inc. All rights reserved.</strong></em></p>
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		<title>Big Think, Small Movement</title>
		<link>http://entrepreneurindia.in/big-think-small-movement/10244/ </link>
		<comments>http://entrepreneurindia.in/big-think-small-movement/10244/ #comments</comments>
		<pubDate>Wed, 02 Nov 2011 11:56:12 +0000</pubDate>
		<dc:creator>Team Entrepreneur</dc:creator>
				<category><![CDATA[Insights]]></category>
		<category><![CDATA[business]]></category>
		<category><![CDATA[buzzspeak]]></category>
		<category><![CDATA[Erika Napoletano]]></category>
		<category><![CDATA[meeting]]></category>

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		<description><![CDATA[Are nonsensical and annoying words sucking the soul out of your business?
]]></description>
			<content:encoded><![CDATA[<p>It’s not uncommon to find me at one coffee shop or another across the country during my workday. Not only do I get caffeinated delights to accompany free Wi-Fi, I also get the benefits of people-watching and overhearing myriad conversations. And sometimes those conversations make me want to poke myself in my left eye.</p>
<p>Coffee shops have become the de facto conference room of the working class, which means as a frequent coffee shop patron, I’m privy to a significant amount of BS that spews from tables around me. I get to hear about overarching concepts. It aggregates content in an innovative fashion and integrates seamlessly with existing infrastructure.</p>
<p>If you have no idea what any of the above means, that’s OK.<br />
I don’t either. In fact, no one does (even the people spewing the words). So, I’ll ask the tough question: Is Buzzspeak Killing Your Business?</p>
<p>Buzzspeak is the uncooked spaghetti of the business world: When you throw it against the refrigerator, nothing sticks. It’s lazy and the epitome of monkey-see, monkey-do. Seriously—would you know an overarching idea if it bit you on the leg? The only thing that buzzspeak does for us is make us seem less intelligent than we truly are. Buzzwords are an excuse to talk around what we really mean to say, and those are the words that will close business and help us give our audience what they really wanted all along: tools that get things done. </p>
<p>So how do you break the buzzspeak bubble and start finding words that work? First, it goes back to the issue of respect. Respect your audience and tell them straight. Stop sugarcoating and dancing around the conversations. I’ll bet if you sat down with your audience and asked, “What do you need?” the answer would probably sound something like this: “I need you to fix my problem.”</p>
<p>Once you understand that the reason we all have careers is because other people’s problems need fixing, the next step is to get to fixing those problems. Here are four tips for closing your mouth, thus denying the buzzwords bandwidth, and opening it in the pursuit of problem solving (the heart of entrepreneurship).</p>
<p><strong>Simplicity:</strong> If you want your audience to buy in to what you’re putting on the table, don’t make them learn a new language. Simplicity goes a long way. When people feel they’re not smart enough to understand your solutions, they feel they’re not smart enough to do business with you.</p>
<p><strong>Brilliance:</strong> If what you’re offering can make your client look brilliant to people, that’s a huge selling point. You’re not the brilliant one for bringing them the solution—they are brilliant for bringing your solution to the table. Take a moment to understand how your solutions make your client shine.</p>
<p><strong>Time:</strong> It’s the mother of all sins—wasting someone’s time. Great solutions don’t integrate or aggregate. They save time. While not every solution saves time, the fact that it might is a fair share more significant than any crap vocabulary you throw into the mix.</p>
<p><strong>Usability:</strong> If it takes a village to learn, it’s probably not the best solution. Respect your audience by offering easy-to-use solutions that make sense for how they operate. Asking them to change their routine won’t get the yeses you crave. Our job is to lend value. We don’t get points for using big words but for results. Best solutions never need dressing up, they just need a team who can effectively communicate their worth and put them into action. </p>
<p><em>Erika Napoletano  Head Redhead at Redhead Writing, a Denver-based online strategies consultancy dedicated to keeping companies from looking like idiots online. Visit her (if you dare) at redheadwriting.com</em></p>
<p><strong><em>©Entrepreneur September 2011 by Entrepreneur Media, Inc. All rights reserved.</em></strong></p>
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		<title>Moving Away from Home to Create a Global Footprint</title>
		<link>http://entrepreneurindia.in/moving-away-from-home-to-create-a-global-footprint/10236/ </link>
		<comments>http://entrepreneurindia.in/moving-away-from-home-to-create-a-global-footprint/10236/ #comments</comments>
		<pubDate>Wed, 02 Nov 2011 11:42:25 +0000</pubDate>
		<dc:creator>Team Entrepreneur</dc:creator>
				<category><![CDATA[Insights]]></category>
		<category><![CDATA[abroad]]></category>
		<category><![CDATA[country]]></category>
		<category><![CDATA[expansion]]></category>
		<category><![CDATA[family business]]></category>
		<category><![CDATA[mitali bose]]></category>
		<category><![CDATA[owner]]></category>

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		<description><![CDATA[Despite India being the third largest economy in Asia, what drives businesses to leave home ground and move to other geographies?
]]></description>
			<content:encoded><![CDATA[<p>As most family-owned businesses expand, they look towards creating a global footprint. Expanding outside home country brings for the business owner a multitude of challenges at organizational as well as personal level. </p>
<p>India today is a land of opportunities, a beacon for investors everywhere in the world. It has gained strength even in the wake of turmoil and instability in more-mature western markets. However, Indian businesses are aggressive in their plans to expand in global markets. Here we discuss what drives business owners to step out of their home ground and create a global footprint. </p>
<p><strong>Capitalise on a good business opportunity</strong><br />
One of the most discerning features of business owners is their ability to identify an opportunity and generate value—in simple words, make money. This has always been a differentiating ability. Coupled with will power and ability to take calculated risks, this feature has the most significant impact on the pace and quantum of growth. But, this still does not answer the question that why do Indian businesses have this compelling urge to establish themselves on foreign shores?</p>
<p>India is the third largest economy in Asia with  rising income levels, growing urbanization, increasing lifestyle aspirations and favorable demographics—all contributing to its attractiveness as a<br />
domestic market. This is happening in the backdrop of ailing developed economies with prohibitive cost structures that are, in most cases, neither able to serve home country demands nor the demands of emerging markets.  This provides a great opportunity for Indian business owners to establish their presence in global markets.</p>
<p>Since liberalization, Indian companies have battled it out for market share and shelf space with a multitude of multinational companies setting up shops in India. The experience of Indian companies has prepared them to claim a stake in mature markets which were considered the bastion of multinational companies. Most Indian businesses will get a sizable share of their revenue from export.<br />
Indian businesses today have the right capacity, availability and access to appropriate skills and technology. Agility and will power to capitalize on the opportunities presented by the world markets add to these qualities. </p>
<p>In the end, it’s all just good business sense. Apart from giving access to new markets and pools of revenue, expanding outside home country helps businesses gain global footprint—especially in the face of volatile socio-economic conditions. </p>
<p><strong>Global recognition</strong><br />
One of the biggest reasons why business owners want to expand  outside their home ground is to gain global recognition for the company and themselves. Stuck for years behind the pre-liberalization curtain and struggling to match up with swarming multinational companies in the post-liberalization period, business owners have a strong urge to  establish themselves in foreign markets. </p>
<p>Peer pressure, too, has a role to play in the expansion of businesses abroad. Business community in India is close and interconnected. Traders are aware of each other’s actions. This is not only keeping up with the joneses but also tracking competition.  </p>
<p><strong>A matter of national pride </strong><br />
There is a fair amount of national pride associated with the decision to go global. Most business owners have a sense of their standing and role in the Indian community. The decision to go global is somewhere rooted in the desire to prove to the world that India, a developing economy, is a force to reckon with. </p>
<p>Till today, best brains of our country have been serving the global companies and universities. Most of the best professionals abroad are Indians. Today we are trying to establish ourselves as the creators of reputed global companies and universities where the best talent of the world would aspire to work. For years, Indian business owners have tried to emulate global companies and their best business practices. Today Indian business owners aspire to build and lead businesses that become the benchmark of growth and management and organizational practices for multinational companies. </p>
<p><strong>Regionalization of businesses</strong><br />
One of the key trends in business is creating value by leveraging technology, supply chain and other core organizational capabilities across geographies. Markets today are not defined by political boundaries but by economic opportunities to consolidate and drive effectiveness and efficiencies. </p>
<p>So, one cannot actually think of state boundaries as contours of business presence and hence  moving outside home country has become a business necessity.  For example, it just makes more sense to have a sourcing team that has access to markets in various geographies or a supply chain that is able to serve different markets, takes advantage of economies of scale, creates competition and manages key sustainability issues. </p>
<p><strong>Entrepreneurial vision drive and conviction </strong><br />
This is probably the most powerful driver for business owners to look towards foreign markets. While different businesses have a different way of expanding in global markets, business acumen and environment definitely have a role to play. Also, a business owner’s instinct, conviction and risk appetite play a major role. Let us briefly look at some preferred modes for globalization: </p>
<p><strong>Setting up sales, marketing offices and outposts </strong><br />
This is the most common, easy to execute and a relatively low-risk option in taking the first step towards global expansion. Most family owned businesses would have a sizable portion of their revenue coming from export.</p>
<p>Acquisition or inking a JV with suppliers, competitors or distributors<br />
Indian business owners have toyed with the ideas for quite sometime  now and have made bold moves. However, today we see inorganic expansion as a stated strategic objective for most Indian businesses. We can only anticipate this activity to gain more momentum over<br />
the next few years. </p>
<p><strong>Setting up greenfield and brownfield manufacturing sites near potential markets</strong><br />
This allows businesses to serve markets faster, in a more cost-effective manner and with a more customized product portfolio. A few years ago, I worked with a plastic manufacturing company which supplied to some of the world’s largest consumer products companies. Later, this Indian company moved most manufacturing locations closer to customers. Customer/consumer intimacy is a big driver for setting up manufacturing locations abroad. Some firms are also setting up contract manufacturing sites in Srilanka, Bangladesh and Thailand. </p>
<p><strong>Sourcing locations</strong><br />
Regionalization of business and the need to compete in a globally interconnected business environment drive companies to look for locations that provide a variety of raw material quickly, in bulk and at<br />
competitive prices. </p>
<p><em>MITALI BOSE  is Managing Consultant &amp; Building Effective Organizations (BEO) Practice Leader, Hay Group</em></p>
<p><strong><em>©Entrepreneur October 2011</em></strong></p>
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		<title>Reach For the Stars</title>
		<link>http://entrepreneurindia.in/reach-for-the-stars/10211/ </link>
		<comments>http://entrepreneurindia.in/reach-for-the-stars/10211/ #comments</comments>
		<pubDate>Wed, 02 Nov 2011 11:29:28 +0000</pubDate>
		<dc:creator>Team Entrepreneur</dc:creator>
				<category><![CDATA[Insights]]></category>
		<category><![CDATA[NASA]]></category>
		<category><![CDATA[Richard Branson]]></category>
		<category><![CDATA[Virgin]]></category>
		<category><![CDATA[virgin galactic]]></category>

		<guid isPermaLink="false">http://entrepreneurindia.in/?p=10211</guid>
		<description><![CDATA[There are many reasons why we should travel to space.
]]></description>
			<content:encoded><![CDATA[<p>“The countdown to release&#8230; a moment of quiet&#8230; an overwhelming and enthralling howl matched with unimaginable acceleration to over 2,500 miles per hour in a matter of seconds. A sky transforming from blue to the deepest, darkest black&#8230; and then&#8230; silence&#8230; weightlessness&#8230; and, finally, a view you’ve seen many times before, but never with your own eyes in all its majesty&#8230; a perfect blue sphere, no boundaries, no borders&#8230; and just a tiny, fragile-looking ribbon of atmosphere.”</p>
<p>This sounds like a fantastic and vivid dream or a scene from a movie, but it is actually a description of the Virgin Galactic experience from our brochure. This vision has already captured the imaginations of the more than 430 people who have signed up for our first commercial space flights, which will take place within the next two years.</p>
<p>To put this into context: Since the first Soviet and American space missions took place 50 years ago, just over 500 people have reached space. Space travel has been limited to government agencies, which have spent hundreds of billions of dollars on developing the technologies that have enabled mankind’s first forays outside the Earth’s atmosphere. Virgin Galactic is pushing to make space travel possible for paying customers; in our first full year of operations, Virgin Galactic plans to carry more than 500 astronauts.</p>
<p>While the ticket prices are high, these are no luxury trips or exotic adventures—we are using our space tourism efforts to enhance our expertise in space travel. Parts of the space industry are being transferred to private companies as NASA’s space shuttle program shuts down. This change will affect launches of satellites, which are instrumental in our communications network and to data-gathering, on everything from changing weather patterns to crop yields. We should no longer rely on old, expensive, “dirty” technology to transport satellites into space. The industry must be made more sustainable. </p>
<p>So, we have been developing a greener solution<br />
in Mojave, California—one that will have less impact<br />
on the environment and will be more cost effective.<br />
Our two-step launch process, which does not employ rockets until the aircraft reaches the stratosphere,<br />
uses less energy than other systems that rely on rockets to lift off from the ground.</p>
<p>The carrier plane, WhiteKnightTwo, flies like an airplane, lifting the secondary space plane to a height of 50,000 feet. It was built using a lightweight all-carbon-composite design and is powered by<br />
four Pratt and Whitney Canada PW308A engines; some of the most powerful, economic and efficient available. In time, as we learn more about how best to employ these technologies, we may be able to apply this knowledge in other areas of the space and airline industries.</p>
<p>In the second step of the launch, our rocket-powered space plane, SpaceShipTwo, detaches from the carrier plane at an altitude where the air is thinner and the space plane needs<br />
less energy to reach suborbital space. The hybrid rocket motor is more efficient and flexible than previous models.<br />
The fuel is a solid rubber compound, and the oxidizer<br />
is nitrous oxide in liquid form. This combination powers an economical rocket engine that can be controlled<br />
and shut down easily. </p>
<p>A sustainable future includes space travel and industry in space, so it is worth trying to develop these technologies to be energy-efficient. For our planet’s health, we must reach for the skies when developing green technologies for the space industry. </p>
<p><em>RICHARD BRANSON is the Founder of the Virgin Group.</em></p>
<p><strong><em>©Entrepreneur Inc. All rights reserved.</em></strong></p>
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		<title>The Picture of Poverty</title>
		<link>http://entrepreneurindia.in/the-picture-of-poverty/10225/ </link>
		<comments>http://entrepreneurindia.in/the-picture-of-poverty/10225/ #comments</comments>
		<pubDate>Wed, 02 Nov 2011 11:28:25 +0000</pubDate>
		<dc:creator>Team Entrepreneur</dc:creator>
				<category><![CDATA[Insights]]></category>
		<category><![CDATA[Money]]></category>
		<category><![CDATA[Network]]></category>
		<category><![CDATA[poor]]></category>
		<category><![CDATA[poverty]]></category>
		<category><![CDATA[Tara Thiagarajan]]></category>
		<category><![CDATA[wealth]]></category>

		<guid isPermaLink="false">http://entrepreneurindia.in/?p=10225</guid>
		<description><![CDATA[Is poverty the lack of money or is it lack of power to change your circumstances?
]]></description>
			<content:encoded><![CDATA[<p>What is poverty? Having less money, living on less than Rs.90 a day or not being able to afford basic human needs?. Look at it this way and money is the problem. Solution: financial inclusion, microfinance, guaranteed employment schemes. But is it? Really?</p>
<p>In India, distribution of income differs from the popular imagery of a pyramid. With only 4% citizens paying taxes and only 10% employed by the formal economy, the prospects of solving this problem through simple redistribution schemes are abysmal. But perhaps it is not about money at all!</p>
<p>The more I encounter poverty, the more I realize that it is actually about the lack of power to change one’s circumstance. If tomorrow I lose all material wealth, no one will call me poor because I am empowered to do something about it. </p>
<p>Generally, you draw your power from the knowledge you have been exposed to, language you speak, tools you have learned and the people you know. There is a reason why most people go on to career paths similar to those of their parents. It’s what people you know can best advice you on. Critical knowledge and connections aren’t easily bought. These are largely inherited and nurtured. Each of us is integrated by our parents and circumstances into social, knowledge and attitude networks that largely define the possibilities of our lives. Money is simply one consequence of the way we play out these possibilities.</p>
<p>The question really is: why are there such large swaths of humanity so limited in their aggregate power? What are the paradigms that have allowed for knowledge and wealth creation in some human systems but not others? All these “basic human rights” emerged in a couple hundred years. How did that pinnacle arise out of a once globally impoverished base? Compare the poor to the powerful and there are a few fundamental structural differences. Most of the world’s poor inhabit highly fragmented social and knowledge networks. They live in small self-similar communities that are relatively disconnected. Progress emerged out of aggregation of people into larger communities with greater diversity. It allowed sharing of diverse information and knowledge and, therefore, greater opportunities for innovation. It also creates larger markets and greater efficiencies. Progress emerged from fast, more effective communication. Long before the invention of phone or internet, the Greeks, the British and the Americans paid great heed to creating effective communication networks via town criers and fast riding message runners. The faster you hear, the faster you act.</p>
<p>The poor are also less likely to organize, instead acting individually or in small family units. Almost half the poor in rural India are self-employed—entrepreneurs of the most micro scale. Compare that to just 6-7% of people in western countries. Progress emerged from people organizing into larger groups, extending beyond family bloodlines—such organization brings together diverse skills and functional specializations that allow more ambitious undertakings and outcomes. So, if we want to tackle poverty, let’s not focus on money. Today, with technology, we can create more integrated knowledge and information networks in these communities. Organization can be taught. With fast flow of knowledge and information, coupled with organization, will come innovation and enterprise. This means more people engaged in value creation. Money will follow. </p>
<p><em>Dr. Tara Thiagarajan is Chairperson, Madura Micro Finance Ltd. Before joining MMF, she was a neuroscientist in the United States.</em></p>
<p><strong><em>©Entrepreneur October 2011</em></strong></p>
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		<title>The Customer Capture Contraption</title>
		<link>http://entrepreneurindia.in/the-customer-capture-contraption/10214/ </link>
		<comments>http://entrepreneurindia.in/the-customer-capture-contraption/10214/ #comments</comments>
		<pubDate>Wed, 02 Nov 2011 11:13:05 +0000</pubDate>
		<dc:creator>Team Entrepreneur</dc:creator>
				<category><![CDATA[Insights]]></category>
		<category><![CDATA[Ann Handley]]></category>
		<category><![CDATA[Blog]]></category>
		<category><![CDATA[page]]></category>
		<category><![CDATA[posts]]></category>
		<category><![CDATA[WordPress]]></category>

		<guid isPermaLink="false">http://entrepreneurindia.in/?p=10214</guid>
		<description><![CDATA[How to turn your blog into an Eight-Nozzled Elephant-Toted Boom Blitz for lead gen.
]]></description>
			<content:encoded><![CDATA[<p>Sometimes when I hear companies talking about creating a “machine” for their lead-generation efforts, I think about Dr. Seuss. Specifically, I think about all the fantastical and imaginative machines he created in his 46 children’s books—like the Super-Axe-Hacker, the Utterly Sputter and (my favorite) the Eight-Nozzled Elephant-Toted Boom Blitz, a mighty machine that rapidly fires explosive sour-cherry stones.</p>
<p>Of course in real life, businesses can’t flip the switch on a Triple-Sling Jigger to instantly produce prospects. But what if you could create a kind of machine on your own company blog, allowing it to help you continuously fill that sales funnel?</p>
<p>Blogs are a great way to increase your digital presence, making you more visible and “findable” via Google, Bing and the like. They can also be a great way to generate leads. It can function as a kind of triage for your sales team, fielding and answering questions organically via the content you produce there. </p>
<p>However, it can perform that function only if you effectively create momentum with visitors who are likely to buy, turning them from mere passersby into something more. Here’s a 10-step prescription to increase your visibility and attract more qualified folks to your site. It may not shoot cherry pits, but it will help you convert your traffic into leads.</p>
<p>1. Make blog an extension of your main website<br />
A visitor’s first experience with your company might be through a blog page. He or she might never land on your main site’s homepage, so link your blog visually (mirroring the navigation and design of your main site) as well as technically. Maintain the blog as a subdomain (may be blog.website.com) versus putting it on a separate domain entirely. Blogging on the same domain that hosts your company site ensures that all inbound links to blog pages also juice up the search mojo of your main site.</p>
<p>2. Solve or share, don’t shill<br />
Your blog should focus on your customers. It should either solve their problems or share your resources. Don’t shill your stuff. This may sound obvious, but too many business blogs seem to be a repository for press releases, regurgitated marketing-speak and other pablum. News about your company and its products and services might be fascinating to you, but it’s not what will attract and engage prospects. Write about what they care about.</p>
<p>How can you determine what to write about? Use inquires or “Frequently Asked Questions” as fuel for blog posts. Ask your frontline folks: What problems do our customers ask about? What advice do they need? What problems do our products or services solve? Also, check your search logs: See what keywords people use when they land on your site to get a sense of what problems they have and what words they use to describe them.<br />
(Of course, questions your customers don’t ask but you wish they did—or Frequently Unasked Questions—also are great blog post fodder!)</p>
<p>3. Show up<br />
Half of blogging is consistency, or just showing up on a regular basis. (Naturally, the other half is producing great stuff!) You don’t have to blog every day, but you do have to create a schedule that’s sustainable for you. Hiring a freelancer or a staff writer or editor can help keep you on track with regular content, especially if you are a reluctant writer. But if you can’t afford that, use an editorial calendar to plan a posting schedule (and stick to it). An editorial calendar, by the way, is simply that: a calendar on which you plan what post will be published when.</p>
<p>Showing up also applies to the ongoing care and feeding of the community you’re creating through your blog. Encourage conversation and engagement by responding to comments (even negative ones). Be part of the conversation, not above it.</p>
<p>4. Avoid War and Peace posts<br />
The best blog posts are punchy and concise, focusing on a single idea. Think short paragraphs or bullet points. And don’t bury the important information. Open with a declarative sentence that sets up the key idea. Framing blog posts this way not only respects your reader’s busy schedule, but also helps address the anxiety a lot of us feel about writing. A blog post can also be a graphic, image, video or even an embedded PowerPoint presentation.</p>
<p>5. Pen a killer headline<br />
I sometimes spend more time writing a headline for a blog post than I do writing the entire post. Why? Because every blog post creates a new page on your site, and every new page creates another opportunity to boost your ranking for one of your targeted keyword phrases in Google or Bing or other search engines. Your blog post title becomes your web page title, so titles matter!</p>
<p>An intriguing headline, or title, is also critical to attracting actual humans to read your post. The title of an article is not merely a promise to the reader (an idea of what’s in store), it’s also the pitchman for the entire post: It entices people to either click or … not.</p>
<p>6. Link to other resources<br />
Throughout a post, link specific words or phrases to other resources on your site. You can link keywords to resource pages you’ve built around those words, or you can link to specific landing pages where you have posted related offers, like the ability for visitors to sign up for a companion webinar, request a white paper or get a free trial.</p>
<p>7. Embed companion calls to action<br />
In addition to linking within the post itself, remember the real estate around the post. There are a few areas prime for calls to action on any blog page, including the “leaderboard” spot at the top of your blog, the sidebar on either side of the post and the often-ignored space immediately following a blog post.</p>
<p>The first two spots are great for banners or buttons. But the space under the post is key: Assuming readers get through the entire post, they should always be given an opportunity to learn more with either a companion offer or related piece of content. (Hint: This is also a good place from which to link to landing pages that require e-mail registration.</p>
<p>8. Offer subscription services.<br />
Allow your visitors to subscribe to get regular updates to your blog via e-mail and RSS. Essentially, every time you publish a post, a subscriber is notified to check it out. Plug-ins to allow subscription options are likely available for your blogging platform of choice (most e-mail marketing providers offer plug-ins that can be integrated into WordPress and other blogging platforms to turn your blog into a comprehensive list-building system). There are also a number of third-party services that can collect names and contact info for you. FeedBlitz and Google FeedBurner are both free services.</p>
<p>9. Trick out with social bling<br />
The more traffic you attract, the more opportunities you’ll have for generating leads. So be sure to outfit your blog with social-sharing icons, particularly the big three: Facebook, Twitter and LinkedIn. Doing so subtly encourages your visitors to share your content and allows you to reach your network’s network, which is a key attribute of social media. Of course, this assumes that you are actively participating in social media, i.e., engaging in conversation, and not just broadcasting headlines.</p>
<p>10. Remember one final thing<br />
Fundamentally, a blog is an opportunity: It’s a way to connect with customers in a real-time, accessible way. But your blog needs to be part of your business, and part of your lead-gen efforts. Talk it up in e-mail newsletters, in print collateral and on packaging materials. A blog won’t magically drive business without active and ongoing promotion and participation—no matter how much inspiration Dr. Seuss imparts. </p>
<p><em>Ann Handley is the chief content officer of marketingprofs (Marketingprofs.com) ans co-author of content rules:How to create killer blogs, podcasts, videos, ebooks, webinars (and more) that engage customers and ignite your business.</em></p>
<p><strong><em>©Entrepreneur September 2011 by Entrepreneur Media, Inc. All rights reserved.</em></strong></p>
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		<title>Communication Etiquette</title>
		<link>http://entrepreneurindia.in/communication-etiquette/10195/ </link>
		<comments>http://entrepreneurindia.in/communication-etiquette/10195/ #comments</comments>
		<pubDate>Wed, 02 Nov 2011 10:31:51 +0000</pubDate>
		<dc:creator>Team Entrepreneur</dc:creator>
				<category><![CDATA[Insights]]></category>
		<category><![CDATA[Communication]]></category>
		<category><![CDATA[etiquette]]></category>
		<category><![CDATA[mentor]]></category>
		<category><![CDATA[Nandini Vaidyanathan]]></category>

		<guid isPermaLink="false">http://entrepreneurindia.in/?p=10195</guid>
		<description><![CDATA[When you ask someone to mentor you, beware of the behavior which can be a big put off.]]></description>
			<content:encoded><![CDATA[<p>I have concluded that entrepreneurs in India are a badly brought up species. Before you are all up-in-arms against me, let me explain why I think so.</p>
<p>Many of you mail me, asking me to mentor you. I reply by giving you my phone number and a good time to call. As many as 99.9% of you never call at the time I ask you to. Two days later you call me, saying you were either too busy or did not check your mail! How can you breach the code of conduct twice, once by not calling when you were supposed to and then by calling without even checking first via a text message whether or not it’s a good time to call!</p>
<p>And, when we manage to get on call, some of you ask me what I do! Let’s say someone gave you my reference, shouldn’t you first be doing your homework before shooting out a mail to me?</p>
<p>A few times it has so happened that I fix up a time to speak with you and mark it on my calendar. When I call you at the designated time, you don’t pick up. I sms, saying I called as I was supposed to so please call back. You don’t. Several weeks later I get a mail or text saying: “Oh I forgot about the call, it was set up so long ago.” Duh? Your phone has a calendar! Many of you mail me with my name spelt wrong. How hard is it to google or simply look at my mail id to get it right?</p>
<p>Some of you address me as Mr. I can understand if you are not an Indian and, therefore, are not familiar with the gender of Indian names. But when you are one, and especially when I have don’t have a unisex name (Gurpreet for instance), I find your slackness unforgiveable.</p>
<p>Before hitting the send button, shouldn’t you go over the matter once to make sure there are no typos? Bad enough English has never been our strong point, but do you need to add insult to injury by saying “lust” when you actually mean “list”?</p>
<p>My biggest grievance is that you don’t reply to mails in a timely manner! In today’s day and age, do you really think saying, “I haven’t checked my inbox for days” is an excuse that will wash? It is particularly distasteful to someone like me who hits the reply button the same time you have hit the send button!</p>
<p>Let’s say we crossed all hurdles and fixed a time to meet—tomorrow, 11 a.m., in my office, the address is on our website. You can’t call me at 11 a.m. and say you have fever and hence want to cancel the meeting. Nor can you ask, “I am just leaving home, what is your address ma’am.” Okay, you did neither, and wonder of wonders, ended up in my office at 11 a.m. You want to meet me because you want to present your idea. But I see you are not carrying your laptop. Then you shove a pen drive in my hand and say, “Can you plug it into your laptop please.” Tell me, am I unjustified in asking you, are you out of your mind? I don’t know you from Adam, I don’t know where all that pen drive has been, you think I will plug it into my laptop?</p>
<p>Let’s say you brought your laptop, showed up on time, and took me through the presentation. Will you blame me if I say I couldn’t focus on your presentation as you stank up my room—either by being extra generous with your deo or so miserly with it that I am busy running my fumigation agency’s contact numbers in my head? Whilst I don’t expect you to be suited and booted, am I being unreasonable when I don’t like your tee which has “I love sucking” printed on it? I don’t like your dirty jeans with torn strands and I definitely don’t like you taking me through your presentation chewing gum. Believe me, this is just the tip<br />
of an iceberg!</p>
<p><em>NandiniVaidyanathan teaches entrepreneurship in several ivy-league business schools across the world. The company she founded, CARMa (www.carmaconnect.in), mentors startups, family businesses and mature enterprises from across domains and geographies. She is also the author of the bestseller, Entrepedia—A Step-by-Step Guide to Becoming an Entrepreneur in India.</em></p>
<p><em><strong>©Entrepreneur October 2011</strong></em></p>
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