Top 5 business secrets for beginners!

Often, people think! What is the secret behind a successful entrepreneurship of a virgin, newly arrived company. Here are the five top secrets for you….

Secret 1: Enjoy it, what you are doing.

When you start a business, what will you have in your mind? Thinking big, as like Google, Microsoft… bla…bla…
Do you think that these fellows thought that their companies will lead the world one day. No, they enjoyed what they did. They use to invest more time and came up with many remarkable ideas. when you enjoy things, you will feel less stress, then your mind will be free to think like a kid.

Secret 2: Create Something That Stands Out.
Whether you have a product, a service or a brand, it is not easy to start a company and to survive and thrive in the modern world. In fact, you’ve got to do something radically different to make a mark today.

Look at the most successful businesses of the past 20 years. Microsoft, Google or Apple, for example, shook up a sector by doing something that hadn’t ever been done and by continually innovating. They are now among the dominant forces.

Secret 3: Create Something That Everybody Who Works for You is Really Proud of.
Businesses generally consist of a group of people, and they are your biggest assets.

Secret 4: Be a Good Leader.
As a leader you have to be a really good listener. You need to know your own mind but there is no point in imposing your views on others without some debate. No one has a monopoly on good ideas or good advice.

Get out there, listen to people, draw people out and learn from them. As a leader you’ve also got to be extremely good at praising people. Never openly criticize people; never lose your temper, and always lavish praise on your colleagues for a job well done.

People flourish if they’re praised. Usually they don’t need to be told when they’ve done wrong because most of the time they know it. If somebody is not working out, don’t automatically throw him or her out of the company. A company should genuinely be a family. So see if there’s another job within the company that suits them better. On most occasions you’ll find something for every single kind of personality.

Secret 5: Be Visible.
A good leader does not get stuck behind a desk. I’ve never worked in an office – I’ve always worked from home – but I get out and about, meeting people. It seems I am traveling all the time but I always have a notebook in my back pocket to jot down questions, concerns or good ideas.

If I’m on a Virgin Atlantic plane, I make certain to get out and meet all the staff and many of the passengers. If you meet a group of Virgin Atlantic crew members, you are going to have at least 10 suggestions or ideas. If I don’t write them down, I may remember only one the next day. By writing them down, I remember all 10. Get out and shake hands with all the passengers on the plane, and again, there are going to be people who had a problem or have a suggestion. Write it down, make sure that you get their names, get their e-mail addresses, and make sure the next day that you respond to them.

Of course, I try to make sure that we appoint managing directors who have the same philosophy. That way we can run a large group of companies in the same way a small business owner runs a family business – keeping it responsive and friendly.

When you’re building a business from scratch, the key word for many years is “survival.” It’s tough to survive. In the beginning you haven’t got the time or energy to worry about saving the world. You’ve just got to fight to make sure you can look after your bank manager and be able to pay the bills. Literally, your full concentration has to be on surviving.

Obviously, if you don’t survive, just remember that most businesses fail and the best lessons are usually learned from failure. You must not get too dispirited. Just get back up and try again.

The Sad Saga Of Satyam Computers

What began as a corporate governance issue back in December has now turned into a major financial scandal for the ages in India. The shares of Satyam Computer Services (SAY: 9.35 0.00 0.00%) has plummeted more than 90% in trading here at the NYSE Wednesday, a stark reminder that investors must always cover their backs or else get racked by the likes of Enron, Bernie Madoff or Ramalingam Raju.

Early today, Ramalingam Raju, the chairman of troubled Indian IT outsourcing company Satyam Computers (on which I had a Hold rating), sent a startling letter to his board and the Securities & Exchange Board of India. Raju acknowledged his culpability in hiding news that he had inflated the amount of cash on the balance sheet of India’s fourth-largest IT company by nearly $1 billion, incurred a liability of $253 million on funds arranged by him personally, and overstated Satyam’s September 2008 quarterly revenues by 76% and profits by 97%. Raju also resigned as the Chairman/CEO of Satyam, and left a trail of dust that may cover other Indian IT outsourcing companies as well in the near-term.

I had indicated earlier in our media interviews with CNBC India that the 48-hour reversal by the management of Satyam on Dec 17 in its decision to acquire Maytas Properties was expected, and it could be the tip of an iceberg — at least on the issues of corporate governance. But now, even I am dumbfounded by the magnitude of culpability, and it makes the issues of corporate governance pale in comparison.

Questions also arise as to the role of the the auditors, particluarly PriceWaterhouseCoopers, and how such a magnitude of financial fraud could have gone unnoticed. Then again, there is the Madoff saga we are contending with here in the heart of the world’s financial center, and one could stipulate that India, in its nascent stages of mismanaged growth, has a long way to go for the free market forces to disentangle from the personal prejudices and greed of the people entrusted to safeguard shareholder and national interests.

Undoubtedly, intense focus will now be directed at the other Indian IT Services companies as well, at least by default. Both Wipro ((WIT: 8.20 0.00 0.00%), Hold) and Infosys ((INFY: 26.47 0.00 0.00%), Hold) have issued statements in attempts to contain the fallout, indicating that this debacle in specific only to Satyam and not the entire industry. That will hardly contain investor skepticism, at least in the near-term.

In the end, the Satyam debacle may also make its competitors bolder in terms of garnering market share created by its fallout, provided the indutsry can regain the trust of the same investors that Satyam has so deliberately deceived.

The Hiring Challenges and Preventive Measures for any Organisatin.

Don’t you think that today’s market is starved labour market? Yes, absolutely. Many organizations tend to  forget that having a “bad hire” onboard can be a bitter worse than leaving that position vacant. You are going to find out how organizations are falling pray to this menace and suggests preventive measures to curb it.

The worst mistake any organization can do in terms  of recruiting is to get Bad Hires on board. A Bad Hire is a new recruit who either does not have the required skill set or someone who does not have the required attitude and aptitude which is required for the specific job to handle effectively. Bad Hire is doesn’t mean that  the new recruit is wrong person for right job, he may be right person for wrong job. This is very tough task to decide who is the right person. Therefore some organizations are starving obviously. Of course,  IT industry is facing too much.

A person can be hired on the basis of his/her performance during the interview. The probability increases if the candidate’s CV or Resume is too impressive. This is no indication of performance of the person. Therefore, the challenge lies in taking corrective steps in the recruitment stage itself. A bad person is  usually a person lack of discipline, unproductive, and wrong attitude (pessimistic).Hence, to avoid such hire, interviewer, needs to be alert and keen listener to gauge the candidate abilities. Some times the interviewee neglects the appropriate measures to hire the right person to meet his targets and self bias of course…

In order to avoid such accidents, organizations must be careful  at the time of hiring correct interviewee. He must be balanced.

“A right person can handle the right or wrong situation at right time with right balance”.    

                                  

AUthor: Vasu G

Blogger Message: Please subscribe to this blog to stay informed about new Posts.[see right side for the link of feeds] 

add Message: I made $384 in two days alone. It is FREE. Learn MORE..!

See the proof [ youtube Video ]