Even though entrepreneurial skills are not taught from the early stages of education, entrepreneurship is growing as the choice of the youth and people belonging to the age group 35-45 years. While being an entrepreneur seems exciting and easy in one’s head, this article tells you that it is a lot more than that. Entrepreneurship programmes, curricular or non-curricular, make you aware about and to an extent, prepare you for the challenges of entrepreneurship. And, the best thing about entrepreneurship courses is that, everything you learn from the course can…
Category: Entrepreneurship
Managing Differences and Conflict Resolution – A Skill Must to be Developed in Family Business
Longstanding family conflict can bring a family business to its knees. It saps energy and happiness and holds back the business from functioning optimally. The first step in resolving longstanding conflict is recognizing that the consequences of avoiding an issue are worse than the emotional discomfort of discussing it. Let us look at an example of a family that succeeded in resolving longstanding conflict. The family, moving from its second to third generation of family operation and ownership, had hit a snag: Conflict was hindering the generational transition. The conflict…
5 Causes Women in Ecommerce Should Stand for Each Other
Female entrepreneurs are continuously making their space in the world of business by accepting new challenges each day and are achieving great success. As per the non-profit corporation Catalyst, females hold at most 6 percent of CEO posts in the S&P 500. However, that percentage bounces considerably when we look at eCommerce, as Amazon data firm Jungle Scout reports that 32 percent of the sellers are females. Yet even this data discloses a gender gap in business. Females have hurdles that are different from their male equivalents while managing an eCommerce business. And getting the proper support…
Transitioning the Family Business from one generation to another
Family businesses are not only “the backbone of the Indian economy,” but also tend to perform better than nonfamily companies during economic crises. But what happens when the founders decide to retire and hand over the reins to a new generation? For many family businesses, that involves one of the most complex processes and generates the most challenges. The following are the eight most important aspects in the generational transition of a family business, according to several experts. 1. Business plan The transition from one generation to the next must…
Top 10 Challenges before Small and Medium Businesses Today
Starting a business is a great achievement for all entrepreneurs, but sustaining one is the bigger challenge. There are a number of standard challenges each business faces, regardless of their size. These comprise of things like employing the right people, developing a client base, building a brand, etc. However, there are a few which are strictly small and medium sized business problems. Here are the top 10 challenges faced by small and medium sized businesses: 1. Leadership No academic qualification is required to be the leader of an SME and it…
Tips to Develop Management Team for Small Business
To thrive, all businesses require a certain range of skills. There will be many different responsibilities upon you if you are an owner of a small business. You will realize that eventually you are better and worse at some roles than others. At some point in time in your business, these skills must be refurbished and improved. It is quite necessary to accumulate people that can appreciate and support your business. An efficient management team will help you to form a more capable and effective business. The role of the…
5 Tips for Women to Negotiate Better
When negotiation conditions are unambiguous and clear, recent research discloses some gender differences in the possibilities of initiating a negotiation. For instance, one might not expect men to be more probable than women to start a negotiation for a supplier agreement or a customer contract. However, when the aptness of negotiating is not so clear—as is mostly the case for negotiating visibility, promotion opportunities, and resources—gender differences are likely to emerge. Mostly, women view main promotions and assignments as a reward for performing a good job, so rather than negotiating with supervisors…
5-step Guide to Create an Unbiased Workplace for Women
Combining the PoSH Act with a company’s framework and rules for abidance is only half of the work done to produce a more protected workplace for females. Taking actions to ensure and implement women’s safety in the workplace is the real and constructive solution. Furnishing infrastructural amenities such as upgraded surveillance for security, female cab drivers, late-night shuttle service, are some developments coming up in the work culture. Yet, changing mindsets is the fundamental solution. Few concrete steps for creating a more protected environment are as follows: 1. Generate and…
5 Motivating Factors of Increasing Women Entrepreneurs in India
In this age in India, we can proclaim proudly that women entrepreneurs in our country is not an uncertain phenomenon. While Indra Nooyi, Kiran Mazumdar Shaw, and the likes paved path for women to step forward and conformed their spots in the boardrooms, a couple of decades ago, women in our country have adopted entrepreneurship in small and medium scale from ancient times though most of it began with a compulsion to manage their families and homes. Women Empowerment The contemporary Indian woman is no more in a want-based environment…
Why we Celebrate International Women’s Day? Their Empowerment and Leadership!
Women’s Day is a worldwide celebration of women around the world. This is a global occasion decided by the UN and is celebrated every year on 8th March. Although, it’s celebrated more wholeheartedly in different countries due to many technological, cultural, as well as sexist reasons, it is quite a crucial part of the feminist as well as women’s rights movement and it has a long history behind it. International Women’s Day The occasion came into action ‘officially’ in the year 1911. Both men and women in countries like Germany,…