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10 Best Management Books

Best Management Books – Leadership and management skills are important when you want to start and run any business. Additionally, if you want to become an effective manager you have to develop managerial skills. You can learn management skills by classroom training or on-the-job training. However, reading books is one of the best ways to learn leadership and management skills.

If you are eager to learn management skills, here is a list of 10 Best Management Books. I am sure that reading these books will help you in achieving expertise in management and leadership skills.

management books

10 Best Management Books

#1 Corporate Chanakya

Author – Radhakrishnan Pillai

Corporate Chanakya is one of my favorite books on management. This book describes the ideas of Chanakya for leadership, management, and training. Chanakya was a multi-fold personality who was a master in identifying leaders and grooming them. The book contains vital information compiled from Kautilya’s Arthshastra along with practical examples.

The book is divided in three sections leadership, management, and training. The subsection of book includes topic such as organizing and conducting effective meetings, dealing with tricky situations, decision-making, the powers of a leader, etc. This book brings back ancient Indian management wisdom in a modern format.

Also Read – 10 Best Business Books for 2020

#2 How to Win Friends and Influence People

Author – Dale Carnegie

How to Win Friends and Influence People is a self-help book. It is one of the best-selling books all over. This book will help you to lead towards success. This book is divided in four sections. (1) Fundamental Techniques in Handling People (2) Six Ways to Make people like you (3) How to win people To Your Way of Thinking (4) Be a Leader – How to change people.

From a management perspective, this book is like gold. There are many useful examples and principles in this book that can be learned and applied at your workplace as well as personal life.

#3 The 7 Habits of Highly Effective People

Author – Stephen R Covey

The 7 Habits of Highly Effective People is a best-seller self-help book.  As the name suggests, this book talks about the Habits of highly effective people. This book explains how these habits make a person more effective personally and professionally. The book also explains how assumptions and perceptions hinder success in business and personal relationships.

The 7 Habits defined in this book are – Be proactive, Begin with the end in mind, First thing first, Think win-win, Seek first to understand, then to be understood, Synergize, and Sharpen the saw.

#4 The one-minute manager

Author – Ken Blanchard and Spencer Johnson

The One Minute Manager is a short book on management. This book talks about three techniques of an effective manager: one-minute goals, One-minute praising, and one-minute reprimands. The book is about personal development. However, it is a very basic book. If you are a beginner you should read The one-minute manager.

#5 The great game of business

Author – Jack Stack Bo Burlingham

The Great Game of Business is a very old book. This book talks about how business works. It is a highly recommended book for the CEO or senior executive of the company. This book will surely help you in increasing your business acumen.

#6 Emotional Intelligence

Author – Daniel Goleman

Emotional Intelligence is a different type of book. In this book, the author gives the perspective that the emotional quotient is more important compared to the Intelligence quotient. The people with EQ is likely to have better leadership skills, mental health, and job performance. EQ can be taught. EQ is not really intelligence but it is one type of behavioral trait. This book was a bestseller in the New York Times.

#7 The Six Sigma Way

Author – Peter Pande

The Six Sigma Way is a book that helps you to implement Six Sigma in your organization. Six Sigma is a set of techniques and tools that help organizations to reduce risk and enhance operational excellence. This book gives practical examples. It also provides a checklist for the entire process of Six Sigma. If you want to maximize the impact of your change and improvement efforts, you should read this book.

#8 Who Moved My Cheese?

Author – Dr. Spencer Johnson

Who Moved My Cheese? is a motivational book for business. This book helps you to deal with change in your work and your life. If you want to move out of your comfort zone this book is for you. The book shares the story of four characters who live in a maze and look for cheese.

#9 Decisive – How to make better choices in life and work

Author – Chip Heath & Dan Heath

Decisive – How to make better choices in life and work is one of the best books that helps you to make better choices in life and work. The book talks about how to overcome natural biases and irrational thinking to make better decisions. After reading this book you will be confident in making any decision in life.

#10 Scaling up excellence – Getting more without settling for less

Author – Robert I. Sutton & Huggy Rao

Scaling up Excellence is the book for achieving higher levels and excellence. This book shares stories from successful leaders and organizations. The book is full of rich examples, powerful studies, and actionable insights for anyone who wants to create an effective organization.

LIC Lapsed Policy – How to do Revival of LIC Policy Online?

LIC Lapsed Policy – Life insurance is extremely important, it protects you and your family from any unfortunate events. The life insurance policy provides financial assistance to your loved ones. You should purchase an appropriate life insurance policy. In addition to purchasing life insurance, it is recommended to pay a regular premium for the renewal of a policy.

What is a lapsed insurance policy?

You need to pay a premium of policy on time. If policy premium is not paid even after a grace period, the policy benefits will be seized and this type of policy is termed as a Lapsed policy. Laps policy is as good as no policy. The insurance company does not provide any risk coverage or monetary benefits against these types of policies.

If you want to continue the benefits of said policy, you need to go for the revival of laps policy. Revival means to rescue or to bring back in life.

The process of revival is easy but time-consuming. If you are holding LIC policy and your policy is lapsed here is complete information about How to Revive your Lapsed LIC policy online?

LIC Lapsed Policy – schemes for the revival   

There are multiple schemes & options to do a revival of LIC Policy.

#1 Simple/ Ordinary Revival

Ordinary revival is also known as a simple revival. This type of revival is applicable if revival is initiated within six months of policy lapsation. It is the easiest form of revival. You just need to pay your unpaid premium along with the interest amount. Visit the LIC office with your laps policy and ask for revival. You will be given a quotation mentioning unpaid premium amount and interest. You need to pay the premium and interest amount. LIC may ask for a declaration of good health in case the policy amount is higher.

#2 Special revival scheme

A special revival scheme is launched by LIC from time to time. Under this scheme, LIC offers discounts/concessions in the late fees. The concession amount varies from 10% to 30%. Here commencement date of payment is shifted and the premium is revised as per policy holder’s age. The policyholder needs to provide Form No 680 or Declaration of Good Health and medical report for the revival.

#3 Loan cum revival scheme 

The next method to do a revival of laps policy is loan cum revival. Under this scheme, a policyholder can make use of loans offered on policy for the revival of the policy. This type of scheme is available only once policy acquires a surrender value. In case the loan amount is not sufficient for the premium payment extra payment is required by the policyholder. In case loan amount is higher than the revival amount extra amount will be paid to the policyholder.

#4 Installment revival scheme

Installment based revival is a special type of revival scheme. If policyholder is not capable of paying revival amount in the single go, he/she can adopt an installment based revival scheme. Here policyholder needs to pay due premium amount in the installment. Installment based revival scheme is costly in nature.

#5 Revival on Medical Basis

Medical base revival is applicable when the policy cannot be renewed under a simple revival scheme. Here policyholder needs to submit medical records and other details as asked by LIC. The condition of a medical basis varies based on policy type and policy years.

Also Read – LIC Claim Online & Offline – Complete Guide

Things to consider before Revival of a lapsed policy

You need to consider the following things before the revival of a lapsed policy.

Duration – The revival of policy is allowed only if the policy has not exceeded a specific duration of time. This period is determined by LIC and dependent on the type of policy.

Medical Report – LIC may ask for medical reports in case revival is done on a medical basis. This is asked based on the age of the policyholder and insurance amount. If you have a medical history or other treatment conditions LIC may refuse to revive the policy.

Interest amount – The policyholder is required to pay interest amount. The interest amount is calculated from the date the premium amount is due. The percentage of interest is decided by LIC.

Additional penalty – The additional penalty is charged to the policyholder at the time of revival. This is based on the sum assured and time period after the policy lapses.

Concession – The LIC offers concession on premium amount time to time. It is offered under special revival schemes. The percentage is in the range of 10-30%. You need to consider concession before revival of lapsed policy.

How you can prevent the policy from getting lapsed?

  • Pay your premium regularly on the due dates and within the grace period. You can set a reminder of the policy premium or go for the auto-debit or NCH option.
  • Don’t wait for premium notice or due dates and grace period. Make a payment of your policy premium.
  • Make use of the online facility of doing the premium payment. You can pay from the LIC website as well as LIC mobile app.
  • In case of a change in address, you can intimate the insurance company immediately. You can get the option of change in address online under profile option at LIC site.

How to revive LIC Insurance Policy – Online Offline?

You can revive the LIC insurance policy anytime under the stipulated time. Follow the steps given below for the revival of laps policy.

Offline Method

The offline revival method is very easy. You need to visit the LIC office personally with detail of Laps policy. You need to ask for a policy revival quotation.

Once you get a policy revival quotation you need to make payment for the due amount along with interest for the revival of the policy.

Online Method

LIC also provides the facility of getting revival quotations online. You need to register on the LIC online service portal to use this method. The steps are given below.

  1. Visit LIC Online portal and click on customer portal. You will be taken to the new page where you need to click on the New User.
  2. On the new form provide details such as policy number, premium, birth date, mobile number, e-mail id and gender.
  3. Click on the submit button. You will be asked to select user id and password for your choice.
  4. Now you can login via newly created user id and password and use basic services. You need to enroll for all your policies by clicking on “Add Policy”.
  5. Once you have enrolled you need to login using username and password.
  6. Click on My Apps and go to Basic services.
  7. On the left side you will get option to get “Revival Quotation”.

LIC Lapsed Policy

On clicking Revival Quotation you will get quotation of policies which are laps. In case no policy is laps you will get message “No Policies are available for Revival”.

You will get a revival quotation only for the enrolled policies.

  1. Once you get quotation you need to make payment. You can make use of online payment services provided on the customer portal.

Your policy will be revived once payment is done.

How to get information about laps LIC Policies?

To know about laps policy, you need to know premium due. To know the premium due for particular policy, send the SMS ASKLIC <POLICY NO> PREM to 56767877 or ASKLIC <POLICY NO> PREMIUM to 9222492224.

To know the revival amount of particular policy, send the SMS ASKLIC <POLICY NO> REV to 56767877 or ASKLIC <POLICY NO> Revival to 9222492224.

Paytm Money – Mutual Funds & Stock Investment App – Review

Paytm Money – Paytm Money is a mutual fund and stock investment platform. Investors looking for mobility while investing in mutual funds, equity and NPS opt for Paytm Money. As the name suggests, it is a subsidiary of Paytm. Paytm App and platform is growing popularity among investors. Paytm Money App is downloaded by more than 50 Lakhs users as per Google Play.

There are many mutual fund and stock market investment platforms available in India such as scripbox, groww, Kuvera, CAMS etc. In this post, we will review key features, benefits, and other key details of Paytm Money. The prime objective is to find out the suitability of this platform for the investors.

Paytm Money

Why Paytm Money?

Paytm is a trusted name in the finance world. It was founded 10 years back. In addition to the payment app, Paytm is also running a bank. This means Paytm Money is backed by a trustworthy brand.

Paytm provide a facility to invest in regular as well as direct mutual funds. You can make use of all types of payments such as net banking, UPI, and one-time mandate. The facility is available on the move also. Key features and benefits of Paytm Money platform are given below.

Also Read – How to invest in Mutual Funds via Paytm Money?

Key Features & Benefits of Paytm Money

Investment in Mutual Funds, Stock Market & NPS

Paytm Money provides facility to invest in mutual funds, the stock market as well as NPS retirement funds. This means you can invest and manage multiple investments on a single platform. The platform offers the facility to invest in regular as well as direct mutual funds.

Portfolio Tracking

You can track your entire investment portfolio on the move. The app also allows you to upload your current investment on Paytm Money and you can track it on day to day basis. You can also create your watchlist and get real-time market information. You can also get a price alert on your mobile.

Multiple payment options

The platform offers a facility to select your payment options. You can make payment using net banking, UPI, and a one-time mandate. You can register multiple banks for doing the payment. The entire process is paperless.

Paytm – Investment Pack

Paytm Money offers a unique facility of Investment Pack. It is an asset allocation strategy. The strategy is decided based on age profile, number of dependents, earning potential, risk-taking capacity etc. The system classifies investors into Aggressive, Moderate, or conservative. This is done via an investment pack. This facility is useful for new investors.

SIP Innovation   

The investor can invest using SIP route or via a lumpsump route. Under SIP you can get various services such as asset allocation in SIP-based on risk profile. An investor will get the facility of Play, Pause, Increase, and decrease SIP. It is very convenient for low risk and a new investor.

Faster Account opening

The Paytm Platform can be ready in a few minutes. An investor just needs to do KYC to start investing in mutual funds. KYC process is completely contactless and it can be done on app by uploading PAN card and address proof via App.

Benefits of Paytm Platform

  • No charges on investment – No hidden cost involved.
  • No hidden commission when you invest in mutual funds.
  • No transaction fees while buying and selling mutual funds.
  • Free and Digital KYC on Mobile.
  • Free Risk profile assessment.
  • Fully Mobile enabled. Invest on the move anytime anywhere from the mobile app.
  • AutoPay Investment and One-time mandate facility.
  • Real-time status updates and notification.
  • Invest from 5 different bank accounts.
  • A higher level of security with two-factor authentication and data protection.
  • Multiple payment method net banking, autopay & UPI.

Drawbacks of Paytm Platform

  • The facility of switching investment from one scheme to another scheme is not available.
  • No Option for a Systematic transfer plan (STP) or systematic withdrawal plan (SWP).
  • The Facility of an automatic increment of the SIP amount periodically is not available.

How to open and transact on Paytm Money?

The steps to open Paytm Money account are given below.

  • There are two methods to open Paytm Money account. (1) Mobile App (2) Website.
  • Download & install Mobile App via Google Play.
  • Click on Signup button. (The method remains same of website also)
  • Enter your mobile number and e-mail ID. Click on Sign Up button.
  • You will be prompted to enter password.
  • Enter the password and provide basic information such as name, age, gender etc.
  • Click on the next button to create your account.
  • Once your account is created you can login with username and password.

You will be able to see dashboard and profile detail. Under profile you will get option to do KYC. You need to enter your bank detail as well as PAN card detail to complete KYC.

How to transact?

It is very easy to do transaction using Paytm Money App. You will get dashboard view where you can select top rated mutual funds, equity funds, tax saver funds etc.

Just select Top rated mutual funds and select suitable mutual fund based on your risk appetite. Click on the Invest now button.

Press the Invest now button and enter SIP or lumpsump investment amount.

That’s it! You can build and track your portfolio with a click of button using this app.

Conclusion

Looking at the mobility and features it is but natural that the Paytm Money is a very good mobile platform for the investor. The best part is an investor can manage equity, mutual funds at a single place on the move.

Have you used Paytm Money for investment? Do share your feedback and experience in the comment section.

11 Best Startup Ideas with low investment

Best Startup Ideas – A success of any startup ideas depends upon a unique and innovative business idea. Everyone dreams of starting own startup and becoming successful. But most of the people face a challenge in making the selection of a good startup idea. If you are one of them and looking for good startup ideas with low investment, you are at the right place.

Here is 11 Best Unique Startup Ideas with low investment. These business ideas are highly suitable for young and dynamic individuals who are ready to explore an unknown world full of challenges.

best startup ideas

11 Best Startup Ideas with low investment  

#1 Custom Cloths

Starting a customize clothes business is a wonderful business idea. A demand of customize cloth is increasing. People prefer customized cloth with printed name or content. If you have expertise in making customized cloth you can start a business of customized cloth. You require a team of creative people for designing cloths. Along with cloth you can sell other customized items. The investment required for custom cloth business is moderate.

#2 Fidget Toys

Fidget toys are toys designed to increase self-regulation and focus. Stating a fidget toys business is a very good startup idea. The world is crazy about fidget toys such as spinner. There are two ways of starting fidget toys business. First is buying and selling of fidget toys and second is developing such toys. You can make cubes, magnets, pen or any other items which help people to increase their concentration.

#3 Food in Container

Food in a container is one of the unique startup ideas. Food container attracts everyone’s attention and it is becoming popular in western countries and in India. It is a low investment business idea. Make sure to make container attractive with full of color. Make sure to place a container in the area nearby office or crowded place. You need to take a food safety license to start this business.

#4 Organic Food

People are becoming health conscious they are ready to spend money for good food. Thus starting an organic food startup is a very good business option. Organic Food business can be started either by producing organic food in farm or by purchasing organic food from a farmer and selling it in the market.

Also Read – 11 Innovative & Unique Business Ideas in India

#5 Online Education Courses

Everything is getting online and digitized, you can also take advantage of this by starting own online education business. You need to design various videos based courses based on various topics. You can take help from an expert to make a video and upload it online. You can either use a YouTube channel or you can buy your own website to upload online video tutorial.

#6 Online Advertisement management

Next startup idea is online advertisement management. The demand for people managing digital media and advertisement is increasing. Thus starting Online Advertisement management is another very good startup business option. You can either develop your own software or website to manage advertisements.

#7 Social Media Management

Another startup business is social media management. As a social media manager, you need to create interesting content that engages the audience and increase fan followers. If you have management and marketing skill along with technical skill you can become a social media manager. You may need to undergo proper training before starting.

#8 Seasonal Decoration

Seasonal Decoration is among very good startup business ideas. People are looking for unique decoration during festival season or during special events such as birthday party, anniversary party etc. If you have competent manpower and expertise you can start your own seasonal decoration business.

#9 STEM Toys

STEM toys are toys related to science, technology, engineering, and maths. These types of toys are used for enhancing the educational knowledge of kids. It is also used for doing project work. If you have an interest in this field you can start STEM toys business.

#10 Vacation Rental Business

Vacation Rental Business is a comparatively new concept. In this business, you are involved in renting properties in the tourist area. You require contact of people who are planning to rent their property. It is a new concept and requires some time to get success.

#11 Waste Management

Waste management is among one of the very good business ideas. There is a massive scope of waste management in a developing country. A waste can be used for making a useful item such as fertilizer also. If you have expertise in this area you can earn a lot of money.

11 Best Startup Ideas with low investment