Happy New Year 2020 Eve the Gyms, Pubs & Bar, Lounges, Hotels Will Get More Business

Happy New Year 2020 Eve the Gyms, Pubs & Bar, Lounges, Hotels Will Get More Business

 

We all know our 2019 chapter is coming to an end. You have completed and learn lot of things but our life doesn’t stop here you need to do a lot actually more than that! New Year’s Eve is on the way. Many people have made their new resolution goals for themselves and their family and friends. This eve is kind of full of energy, kindness and happiness. Where people meet together greet everyone and celebrate. This only eve was one can celebrate all their anger, sorrow, losses, and gins in professional and personal life. All are waiting for first day of New Year 2020. This gives so much confidence to almost every person in this country.

Each and every individual has a different definition of celebration. So, generally, if you observer the people enjoy or welcome the New Year 2020 by keep themselves awake till midnight. All friends and family come together, eat together, dance together and drink together. So, for owners of Pubs, Bar, Lounges, and Hotels need to keep smart offers in order to get more business, attract more customers but the biggest advantage of this is everyone enjoys this eve so, so some of the hotels knew that the more customers will come and go.

As you know New Year is always conveyed with it a lot of happiness. Each and every one of us are enthusiastic in our personal way to have fun on this day. I assume there is something supernatural and exclusive about new commencements and surprises and with New Year 2020 just about to come. So, it’s phase for planning and making plan of action for your New Year’s Resolutions. Each and every individual have the different goal. Some of them complete their goal and some of them failed to do it. So here is a chance to make wrong things write. You can set your resolutions should be very smart so you can complete it in a smart way such as Specific, Measurable, Achievable, Relevant and Time-Bound along with you need to put the efforts to complete the goal by just dreaming it will not come into reality.

If you talk about the New Year’s Resolutions like losing weight, saving money, drinking eight glass of water, joining a gym, reading book, etc. then I think you don’t require or you don’t have to wait for New Year to arrive, you can start this on any day if you prepared the mindset accordingly. The New Year’s Resolutions are really for making a big difference in your life and the society where we live in.     

From PuiSSance We
We are wishing you in advance a very "HAPPY NEW YEAR 2020" 

The Management Consultancy Industry Future in INDIA

The Management Consultancy Industry Future in INDIA

If you notice in INDIA, a person wants to buy something generally what we do we ask other people the opinion of that particular product, we try to get pinion from the person who has already used that product, we look for product’s advantages and disadvantages, we also research the product cost in various shops, we also research on where you will get the best quality of the same product, etc. So, if anyone analyzes this you can easily make out that, they are asking advice from other people to reduce some problems that may arise in the future. We give and take such advisory sessions in every day to day life and it happens unknowingly. This is a kind of consultancy type of a thing if consider it professionally.   

Whenever do we want to take any decision? Or before taking a decision we always take advice from someone who is elder than us, who is an experienced person, who has knowledge about that particular thing or product. Similarly in professional services or we need help from experts or we can say that consultancy. In other words, we need a management consultant in every aspect of the business journey.  As per the research, the Management Consultancy Industry is a million-dollar industry that will grow tremendously in the future.

If you see the current situation of the market is that the consultancy services are in demand for both domestic and foreign organizations. The best part is this opportunity to become a professional management consultant is spreading across the young youth of this country.  Various program is get conducted by institutes and associations to spread awareness and the value by developing more consultants from our own country which will help us in increasing the economical status of the country.

If you really want to understand why we need management consultancy?  Click Here 

Read more on The Management Consultancy Now and Beyond: More than Philanthropic Advisory in INDIA Click Here

The Management Consultancy Now and Beyond: More than Philanthropic Advisory in INDIA

The Management Consultancy Now and Beyond: More than Philanthropic Advisory in INDIA

INDIA is a country of opportunities in every aspect. We are considering the only economical phase of this country with respect to earning money for each and every individual till micro, small, medium and large industry sectors as well as so-called big shots in the industry. So, from the age around 16-18 until you die who has done something to earn money especially small or very small! Businesses this kind of economical picture you will find in INDIA such as “Chai Wala, typical college assignment writer, person who seals fruits into cut pieces, cleaning glass, person to do dust cleaning, etc. and the professional service providers are already present! ”  These out of the box ideas you will find only in INDIA for sure. 

If you notice there are kinds of combo offers structure type for choosing the service provider like for an example to fulfill one particular need of a customer you will get professional, high professional, non-professionals, self-employed, freelancers so, yes this creates a big confusion in people all over INDIA. Here you have to take help from Management Consultants to avoid future problems and find right solution without wasting time and effort by doing smart work and this is the reality for the industry nowadays. People in INDIA have big misunderstandings with the term “Management Consultant” they don’t know the real meaning of the “Management Consultants”, how they work, why people follow them, how they find the solution, why someone needs the help from management consultant, they don’t know the value of system creation in an organization, they don’t know the value of being organized etc. so on and so forth so like this doubts people have in their mind when it comes to “Management” or “Management Consultancy”.

Let’s see the current status of Management Consultancy now in INDIA. As per the recent research “The Management Consultancy” industry has grown up to 30% based on the skills of respected consultants also the estimated up to Rs. 30,000 crore Management Consultancy Industry.  So, the approximately  50% of the people are taking help from professional management consultant in various ways like by becoming external for organization, for a temporary basis  or project wise or only just consultancy, for making business more profitable and reducing the cost or reducing the overheads and overall improving the organization’s performance and educating the team or staff members of the  company including government and public sector companies but rest of the people may think that we are self-have enough knowledge compare to third party, some people criticized the management consultants for their work structure and plans that they are failing to make our business successful, they think the service or help of management consultancy is too expensive. The biggest problem of these people is they don’t want the consultancy part of the modifications in executions they just need more money in lesser time without doing constructive efforts so, they will start criticizing you and also they will make you feel that you are failing and you don’t deserve to be consultant even if you are authorized or certify consultant.  These people also have the common tendency of thinking that CA, Lawyers, Ph.D. holders, and MBAs will help them in there all the problems and they have other options to outsource the project. So, why they will need “Management Consultant” isn’t it?

The future of this multi-billion dollar industry is growing with changes every minute. We need to become versatile and updated to adapt these changes. So, it’s more than Philanthropic Advisory, yes you read it right just giving advisory will not work anymore. The major change is the Digitization, AI, Analytics and Cybersecurity because of this there are hundreds of analytical tools, models, templates are available, with the help of research & development work some methodologies also changed and new methodologies are getting developed the conclusion behind this is that, the amount of work done by people will replaced by emerging technology this will affect the costing of this industry. The big players of this industry like BCG, IBM, Deloitte, and PricewaterhouseCoopers have incorporated the digital, AI and Cybersecurity changes. So, you might be facing some situations where you have to change your strategy or plan or business model as per the value-based pricing models but as usual client will continue to complain about your fee structure no matter what! Similarly consulting organizations will continue to face the problems while finding skilled and talented consultants to become the asset for the “The Management Consultancy” industry. Globally this is mostly seen as a practical solution for this industry with respect to this the money, time, efforts investment in new technologies will tend to raise the revenue of the company So, companies need to look for their own growth strategy.

Finally, we need to strengthen the framework of our “The Management Consultancy Industry” in INDIA. 

Everything about Business Myths No.2: “We don’t have time; we have to work 24/7”

Everything about Business Myths No.2: “We don’t have time; we have to work 24/7”

I think, generally, we all know people who are in business professionals are always busy and sometimes you can observe that they often mention in their communication that, “I don’t have time” or “we need to work 24/7”. Yes, this is a common myth that in order to achieve success you need to work 24/7, right?

Nowadays there is a big difference in “Hard Work” and “Smart Hard Work”. Working constantly for seven days a week will not make you successful, you need to take lot of effort with focus mindset consistently for a long time to achieve the desired result. You may feel that all whatever you doing are productive towards business, but it doesn’t mean your day is actually productive. You need to analysis yourself when to step back when required and when to go ahead.

Working hard doesn’t mean you stop caring about you, your family, and your mental and physical health. You have to also understand the capacity of your body and what body is asking from you. If you keep your diet and 7-8 hours of sleep proper then you may not fall in uninvited problems of health and happiness.

Apart from that, as a business owner, you have to make time for yourself before your customers, clients, and employees. You will think that, in such hectic working day how you will find yourself free time? Scheduling is one of the biggest keys to all problems. If you properly channelized the for sure you will find time relaxation for yourself and personal space, but the best practices people are following is to do 8 hours of work in rest of the time give time to your complete sleep, spend with family, friends, have good food, do mediation this all will help you to improve yourself more.

There are famous quotes “Work harder on yourself than you do on your job. If you work hard on your job, you can make a living. If you work hard on yourself, you can make a fortune” by Jim Rohn. So, being organized in your life will always lead you to a peaceful life, will decrease the feeling of anxiety and depression also prevents you from the state of overwhelmed.  The conclusion is keeping yourself healthy and fit so that you can explore more opportunities with focus mindset and smart hard work. So, never thin that doing business means you need to do 24/7 hours of work every day.  You will never know what life has planned for you and how your fate will change. So, keep faith and trust in your hard work but not on the time that you have to spend. Sometimes people say “I worked all day but I didn’t get result” so this kind of situation also should not happen.

Do’s and Don’ts No. 1: Leadership

Do’s and Don’ts No. 1: Leadership

As you the organization become successful because of the teamwork of employee and the management people and if we don’t perform proper coordination between management and the employee the this will lead to failure that’s why people many big people are saying good leadership is a foundation of any successful business. 

You have to make sure that giving very helpful leadership to your employee or team members and an organization it’s very important to manage your employees or team members with all respect they deserve and other understanding which will help them to work with more enthusiasm and focus. If you are looking for some improvements here are a few dos and don’ts of leadership.

Really wants to read more on Leadership Click Here

Do: Always Lead your Team Members by an Example

We always follow what our management asked. So, if the leader itself is following all rules and regulations and other all principles of work ethics then this an example for the rest of the employees and other team members. So, that they can realize if our management is taking so much effort for us then we should join them.

Don’t: Ignoring the Feelings of Your Employees or Team Members

As a business leader you don’t think always emotionally you kept emotions outside while doing business. If you think emotionally about your team members or if you listen to their requirements and try to fulfill it with respect to real need which helpful for management and employee then this will be a great achievement for you as a leader. They will keep trust and faith in you as a leader. You may experience that your all team members and employee will stay with you in the long run.

Do: Communicate Properly

As everyone knows and everyone might have experienced that fights and quarrels happen in the organization is because of misunderstanding and miscommunication between two or more people against some things. If you are communicating properly with your team members in a professional way then you can avoid a lot of chances of quarrels. Please don’t be arrogant, don’t show attitude, don’t drag and other subjects if not required. This will help you a lot in your business journey.

Don’t: Please Don’t Blame your Employees or Team Members for Mistakes

Doing mistakes is okay and it’s normal. We all are humans and we do mistakes. In most organizations management blames employees or team members for the company’s loss keep one thing in mind always it’s not a mistake of employee. If we overcome the problem of communication and understanding then you may try to avoid this situation.

Do: Stay Always Positive

Sometimes it’s very difficult to manage face challenges that have occurred in the process of developing the business and management feel like to give up and saying the negative statements to team members this will not work. This will create another problem that employees may think that we should stay with this company or search for others this might be the possibility.

Don’t: You should not take the team’s credit for your successes

Always remember behind every successful work there are team efforts and hard work. Please always appreciate and give them the credit they deserve. This will bring the respect towards the management.

Do: Take Projects in which all team members can do it properly.

Sometimes management starts taking projects which the team members are not skilled in that particular area and then management will put pressure on them to complete it on time. ..so then more mistakes will happen….and in the end the productivity of a day will get lost. So you may not get the desired profit out of it and no one gets a feeling of failure.

Don’t: Never Ever Isolate your  Team   

It’s very importing to work in a very interactive environment in organizations. In some companies, some employee doesn’t know the name of owner or doesn’t know the management people. This should not happen. This is not good for your organization. Management should take care of each and every person in the organization.

Wants Read More on Leadership Click Here

Lessons Learned in Business No. 1: You are in the dual situation to quit the business or not to quit or to change the structure which is okay and normal.

Lessons Learned in Business No. 1: You are in the dual situation to quit the business or not to quit or to change the structure which is okay and normal.

The business field is a very big sector. In this field, you will find yourself always learning some new things on a daily basis regardless of whether your business is startup or older.

While in the process of establishing the business you may face a lot of challenges on the road to setting up a business in order to make a constant and certain amount of income every month.  In order to see this, in reality, you need to have patience, a focused mindset, and consistent hard work.

Throughout your business journey, it’s not easy to have patience, a focused mindset, and consistent hard work continuously. After some months or one year you may find that, your business not making the money up to the mark, you are not getting the proper margins, you may feel like you are not taking efforts that are needed, you may find yourself in the position of directionless like from where to start the business or work to generate money.

Such situations not necessary will face by only startups but also well-established companies also can face. So, the worst feeling is you may find yourself in the state where you feel like quit the business or not to quit or to change the structure. This is a very normal stage of yours so don’t worry these situations are faced by many business people.

This is very critical situation for business as well as for you as a business owner, because till now you might remove the overheads,  some of the extra employees, you might cut down some operational activity of your business which you find that less important, but you may forget one thing while ding that you may lose your productivity towards work. In such situations business, the owner can become lone survivors and manage the business all alone, also you will find the proper people for your business management because they are with you in this situation with all trust and faith.

We all know it’s very difficult to manage, but keep faith and trust in yourself and the vision that you saw for your company in the future and don’t give up. You might be knowing the universal law of attraction which says, “When you truly want something and go after it without limiting yourself with disbelief, the universe will make it happen.”  The main conclusion is don’t regret your decisions.  If I would have kept more patience, did more hard work then I would have become a successful business person or I would have run the organization successfully.  So, don’t give up. Don’t take such decisions that you may regret in the future.  Keep trust and faith in yourself and your hard work. Never ever think negative in such situation. Don’t think that you are a failure.  This is a normal, stay calmed and do your work with belief. 

Best Groups for Business Networking You Should Join in India

Best Groups for Business Networking You Should Join in India

As a business-minded person, we always look for some opportunity to do business with or to make customers or to do business deals with others, etc. but sometimes you may not able to find proper people. In business networking one can say that the structure is like help each other and grow together but some people have big misunderstandings like you will be making direct sales, you will able to get qualified leads for business, also in such groups competitions for the same services that your business is giving, etc.

The reality is business networking group helps you to grow on a long term basis, provides you other professional contacts, they give the opportunity to establish a trust among all group members, give you the all kinds of knowledge on [latest trends, current position of market etc.], gives you opportunity to introduce your business with others. In short, you will share your business cards, you will discuss with group members, share your knowledge, will give advice on small-small things, value-added discussion among group members, and meet different people every time you visit. You will get to learn the experiences of others their stories and challenges and how they overcome them, you may find mentor for yourself and for business growth.

If are in India or you want to do business networking in India, then let’s find out the business networking group or join a business networking group in India.

1] The BNI – Business Networking International

BNI is the largest networking group in the world. For India it’s BNI India. One of the biggest advantages of this group is you contact anyone from around the world, from around the country respectively. You have to spend a day every     week with BNI group. The joining cost may differ from country to country. This group is kind of that you are doing real investment for your business and it’s worth joining this group. You will get several benefits like learning, professional and personal contacts, motivation, mentors and the focused mindset people.

2] IMC – Indian Merchant Chambers

The IMC is one of the legendary organizations which help you to identify the business opportunity across the country. The IMC is a primary chamber of trade and commerce industries in India. The biggest advantage is opportunity for networking global trade and commerce industry and making India strong economic nation worldwide.

3] Rotary International

The rotary international is a worldwide service organization with the goal to do the business together and provide the public services on goodwill. They will guide you on each and every step when you are a part of this group. All the members of this group are known for ‘Rotarians’ and usually they work on principles. The group is open to all types of people who also have to meet once on a weekly basis.

These are the best business networking groups in India. In addition to that, you will find more local groups in India state and city wise also.  

- By PuiSSance We Team 

Everything about Business Myths No. 1: “The Customer is Always Right”

Everything about Business Myths No. 1: “The

 Customer is Always Right”

Popularly known business myth “The Customer is Always Right” Is really the customer always right? Being a business person or owning a business you always came across the various customer base. You may get an opportunity to understand what is the nature of the particular type of a customer but in this world of giving and take you might know the very popular phrase.   Correct! You guessed right. Let’s discuss one by one aspect of this phrase.

The statement “The Customer is Always Right” is a very popular statement and popularized by successful merchant Harry Gordon Selfridge. This statement has various versions. The legal law says – let the buyer beware, the hotelier from Switzerland stated - the customer is never wrong, in Germany people say- the customer is the King and in Japan people say- the customer is God. These all statement has a hidden and coon meaning which is any retailer or service provider or self-professional or business organization should always give priority to customer satisfaction and their requirements. One can say that these statements are the motto or slogan for all customer bases around the world.

The real reason behind this giving so much of import ants to the customer group is because of this customer the retailer or service provider or self-professional or business organization make money, they able to understand the current trend which is going on, also they are always able to improve the standard of customer service and sometimes customer has more knowledge then a retailer or service provider or self-professional or business organization.

Now things have changed. We all need to accept the change as time changes. You might have experience as time change we all need to adapt new things, routines, habits or one can say lifestyle. So, the customer also changed. Now the customer takes all facilities for granted by saying all those statements. They try to teach or try to dominate the retailer or service provider or self-professional or business organization in order to fulfill their requirements without any understanding of the worth of any product or services. Such types of customers think that all these retailers or service providers or self-professional or business organizations depend on us they should do what we are saying. Such type of case you can easily found in hospitality industry. Please note that such types of customers do not come always, but the numbers of such customers are increasing nowadays and yes don’t’ think all customers are the same.

If you are thinking from the knowledge point of view then the knowledge is at the fingertip of everybody because of digital India so, on one has the option to blame anyone neither customer nor retailer or service provider or self-professional or business organization. Often this thing doesn’t happen, but sometimes such situations occur because of miscommunications. One can easily conclude that “The Customer is Always Right” is a myth. Customers can be wrong and service providers can be wrong because we all are humans and we all know humans do mistakes but specifically for customers if you can show them the real meaning of consumer rights then it will not create any problem. 

- By PuiSSance We Team  

Top 4 Major Reasons: Why Small Business or Startup Business Fails

Top 4 Major Reasons: Why Small Business or Startup Business Fails

Nowadays we live in the 20^th century. Till now So, many changes have occurred in our economy.  The overall economic condition of the counter also has been changed. To run a country or to run an organization your economic conditions should be strong and positive, with respect to that, the structure of the economy and market also has been changed. Similarly the business model also has been changed. Now I think you can easily make out the real reasons for failing small business or startup businesses are also has been changed.

If you analyzed from past years the structure of business model and the market position you will find that, people are seeking business opportunities always like you never imagine such as people may do business in these ways for example earlier the fruits shop vendor was selling the fruit as it is but now they are selling slices of fruits, you get easily available chopped vegetables, small business from home(Homemade breakfast, lunch, dinner, cakes, chocolate, all other food category stuff, reselling of other household things, etc. ), the freelancer work for  developer, designer, photographer, chef, etc. , professional organization, professional people. Now you can again make out if you need any particular service for you and you searched in the market you get lot of same service providers. Then it becomes more difficult to keep trust.

When you do a business or customer interaction the trust factor is the main key to running a business smoothly including the cash flow. So, very first reason is Saturation.  Saturation is the biggest reason which will slow down your business process and if same situation for long then you may find yourself winding up your business. For example You opened an IT Organization providing the services of web development but in the market you will find thousands of companies providing the same services. Also if you think as customer, they may get different quotations for the same requirement. Then customer starts comparing and most recent research found that they will take service from where they think we can easily rely on them. So, the same the trust factor plays very important role.

 

Another reason is the strategy. Most business owners fail to make a proper execution plan or the system they work. If your business is taking required modification as per the market and economic conditions then you don’t have to worry. In reality if you don’t have planes then it’s very difficult to sustain your business and end result will be you have to shut down your business. You can prevent this situation by creating versatile and dynamic strategy for your business as per the current market situation, economic condition of the country and with latest trends.

Another reason is ignoring the behavior of the customers. In almost every business we keep in mind that customer is a ‘God’ or ‘Boss’ and always give them a royal treatment. If you don’t understand their demands then it’s a big problem. For example: if you have an electronics goods shop, one customer came and asked for a mobile phone having latest features. You show them a mobile phone with satisfying his/her requirement including the cost and also giving the option for negotiation for the amount. But simultaneously customer is also searching same mobile on online selling sites. He/she finds some better options online and buys from that particular site. So, the shop does not have sale in this particular case. Here you may have to consider the behavior like age group, gender, working style, etc.

The most important reason is doing business for short term money or taking instant lot of money from customers. As a business person you might be facing lot of financial pressure, pending dues from other suppliers, etc.  In such cases your one side of mind may think that, make a customer fool to get money or to get first order you also agree to give the services which your business is not having that particular service for the purpose of not losing the customer. If you do so, this will not run for a long time. Because customer is not willing to trust you. You may do this several times with new customers or repeated customers but one day customers will know what you are doing then they will not come to take your service. Now a day in this smart revolution customers is also becoming smart.   So, Plan properly the marketing & selling strategy from professional Management Consultant.

If you thinking why need Management Consultant Please read here.     

- By PuiSSance We Team.  

Planning to run a business like Lounge, Bars & Pub….Sure why Not?

Planning to run a business like Lounge, Bars & Pub….Sure why Not?

Now if we consider the current situation of the market you will find people of running multiple businesses. In some of the business categories, you can’t find the effect of recession is considered which food and clothing industry is. Running a business like a restaurant, hotel, lounge, bars, and the pub is not simple. This type of industry needs both physical and mental work in a balanced way including the good quality food and the management and working team of respected Restaurant, hotels, lounge, bars, and pubs. One thing you keep in mind that these lounge, bars, and pubs are under the category of high-risk business.

Running a lounge, bars, and pubs required enormous amount of commitment, disciplined, proper management of the working structure and the system. This type of business is of having big responsibility because you’re dealing with the liquor and other alcoholic beverages. Before you start selling alcoholic beverages you need to take proper permissions from government, required licenses, necessary rules and regulations, and the eligibility criteria. One should have the proper knowledge and most important you need to train your working staff because again alcohol is a big responsibility. If you don’t follow the proper rules this alcohol can create big problems for you.

As a common person or as a customer you will never ever know the details of his business on how they run. A  lounge, bars, and pubs are considered as a cool place for hangout. People come together to relax, enjoy and socialize. If you are wondering how India’s nightlife is.......read this. So, in order to maintain such customer base, class of customer base, the other small business like new arrivals of alcoholic beverages, the interior of the place, Sound system and many other things you need to take care of all of them. When you visit any of this lounge, bars, and pubs you never get a feeling that you are in some local hotel, local cafe. They have their own different structures in food industry.

In order to run the lounge, bars, and pubs successfully. You need to work on all small minor to major things of this high-risk business. If neglect your business can collapse in no time.  Things like location, locality, quality, area, easy-going to respected place, the behavior of staff member with customers, versatility in speaking of language, investment of money, etc. all this does matters a lot when you plan to do business like lounge, bars, and pubs.   

- By PuiSSance We Team

Top Biggest Common Small Business Startup Mistakes to Avoid

Top Biggest Common Small Business Startup Mistakes to Avoid

In today’s world of economy and business markets the model of business is changed as time and generation changes, therefore, the business opportunities are also increased in form of freelancer, on hourly basis, part-time, full time and the micro, small, medium and large enterprises, etc.  In order to start the business, you need a lot of desire, a focused mindset, willing to make all efforts to accomplish the goal.  If you are one of them who wants to own a business or start the business on his/her own then you should really take care of some of these common biggest mistakes that possibly one can do while starting a business. Let’s list out what might be the mistakes are:

• Not Having Motto Or Goal For A Business
• No Proper Planning of a business
• Not Doing Market Research
• Not Able To Manage Staff
• No Financial Budgeting
• Note Taking Help From Management Consultants
• Waiting For Investments Or Someone To Invest
• Starting A Business With Off Track Niche
• Lowering Your Business Cost
• Not Doing Constructive Marketing
• Not Doing Proper Legal Documentation Of A Business

Not having a motto or goal for a business

If your business-level is at a startup then please write it down your end of a business, generating money from a business is not a goal. As a business professional you do work hard and earn money. So, set such a goal that will bring the change in economy and will last for a longer time. If you didn’t plan then you will not have a direction on how to take forward steps for your business and you will get confused and always surround by the question in your mind with this you will feel like your now in a trap and there are no solutions for this, but such cases do take help from the one who has proper and correct knowledge like management consultants or strategist. 

No proper planning of a business

Before you come under the category of startup level in your mind you have lots of ideas. In order to convert those ideas, in reality, you need to put lot efforts and hard work, but it did everything without proper planning then it will be like we just work hard without getting nothing. If we do planning or discussions with management consultants. One can get an overall idea n how to execute the idea and how to get return on investment in a systematic way.

Not doing market research

Now in the market, there are so many business ideas are out there. Such ideas ware people get influenced within a seconds and start doing actions to execute that idea, but some of business principle is sustainability. So, in order to get desired result we need to keep on doing hard work patiently and if we didn’t then we tend to close the business setup. To avoid that market research is very important. You get to know current market status, what market is looking for and other consumer requirements etc.  For that you need to have proper people who will help you out in this and you can rely on it.

Not able to manage staff

Every startup owner or founder has created an imaginary vision while starting a business. The vision is like they will get good team members and they will get control over those team members easily and will get work done from them. In reality Itis very difficult to find good people and experienced people initially. You need to take people like similar mindset people so that, they are ready to survive without money in tough times of the company and will not leave you or owner or founder or management alone. Like you when you start business keep in mind your income will not flow early it will take time like a year or 2-3 years to get going. So be prepared for those situations. Never lose hope. Keep on trying even those it very difficult. Once you face this kind of challenge and came out successfully you will become unstoppable.

No Financial Budgeting

Now you finally open the company with all positivity and desired having required investment of money or your savings money. So, the initial six months you did properly spend money on office expenses, salaries of all employees, etc. and then suddenly you will find yourself in big depth. During this whole process, you will never know how much money you spend and when your tough time comes then you might not having the money that will help you to retain your business productivity. So, financial budgeting is very important. Please be careful while spending money on expenses. Get help from proper professional financial advisors.  

Note Taking Help from Management Consultants

In our human body, our heart is main and import part similarly in every business whether it is small or larger the management is a very important part of the organization. In India, we have seen mostly founder or owner think him/herself as they know everything and with what little knowledge they try to make the system without any proper knowledge which indirectly affects their working productivity.  So, without wasting time do take advice from management consultants which will lift up your business by doing smart work.

Waiting for Investments Or Someone To Invest

There are people who themselves don’t work hard for their own business, but someone else should work hard and do I for them. So, practically his does not happen. So people ask them to invest and work together. Most importantly one person can’t run a business it needs a group of people and we need to help each other and grow together.

Starting a Business with Off-Track Niche

There are people who act like someone else is doing so, I will do the same. In business, this doesn’t work. In this process, people might choose the niche without thinking and research work we called it homework.  So, sometimes this kind of chosen field might not be grateful to you. You need to think properly while choosing the business field. In these situations the management consultant will help you out.     

Lowering Your Business Cost

As a business person one thing you should keep in mind that, you should not lower down the product cost or services cost. In order to get more clients or customers. Please do proper research before taking any decision.

Not Doing Constructive Marketing

One thing keeps in your mind. Companies good time or bad time never lose marketing. Keep on doing the marketing.

Not Doing Proper Legal Documentations of a Business

Once you take the decision of starting a new company or starting a new business. Be sure that you register yourself properly in the law of government of India so that you can get reliability. Clients can rely on you without any doubt. 

- By PuiSSance We