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How to become a Successful Entrepreneur?

Business Ideas

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June 16, 2015

Becoming entrepreneur means building a business that is completely yours. The dream of becoming a successful entrepreneur is seen by 10 out of 9 people, but very few get succeeded in fulfilling this dream. If you are far away from success and planning to quit entrepreneurship hold on don’t take any irrational decisions until you finish reading this post. What you learn here may change your life and make you successful as an entrepreneur.

How to become a successful entrepreneur?

1 Stay energetic and zealous

To be a successful entrepreneur you need to be energetic. The new business demands more time and dedication. You have to stay excited about your product and energy. You energy will translate to everyone you meet and speak about your business and this will lead to business growth.

2 Build a Team of skilled and successful people

Another important thing is to build a team of skilled and successful people. You cannot do every function of your business on your own (finance, sales, marketing etc.). Another important thing is you need to learn how to get work done from others.

3 Create something that is unique

You need to be innovative in order to get succeeded as an entrepreneur. Bring out innovation (Out of box thinking) make unique product or service ideas. By this way, you are reducing a chance of competition and increasing the chance of being successful as an entrepreneur.

4 Love what you do

To be successful, the first thing you need to do is to fall in love with your work. Love for your work will act as driving force. You have to be passionate and positive about your business and it will surely increase your chance of becoming successful.

5 Learn from your mistakes and Failures

Any mistake leaves wonderful learning lessons. Mistakes are inevitable provided you learn from your mistake. Success comes when you are able to digest and learn from your failure. Your action after your failure plays an important role in shaping your success.

6 Never stay comfortable

You should never stay comfortable in the business. Always protect your business you never know your business may be under threat. You should be ready with water or fire extinguisher before fire rather than finding it then.

7 Take a Risk

To become a successful entrepreneur, you should know where to take a risk and where to play safe. Remember most successful entrepreneurs like Ambani or Tata didn’t get to where they are playing it safe. Calculated risk always helps you take your business at next level.

8 You have to take stair to success, there is no elevator

No one ever gets succeeded by taking one giant leap. You have to use staircase for becoming successful. Take small and meaningful steps towards your goal. Keep moving slowly remember “Slow and Steady will win the race”.

There is no elevator for success. Remember “Bigger dreams can be accomplished by setting smaller objectives and working on them on a daily basis.”

9 Stay connected with successful people

Your success depends upon the type of people you live with. Stay connected with successful people. You can learn from these people what it takes to be successful.

At the end, I would like to say “Winner Never Quits, Quitters Never Wins.” Follow tips given above and I am sure you will become a successful entrepreneur.

Successful Entrepreneur

How to use mCash by SBI for money transfer

Personal Finance

Shitanshu Kapadia

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June 14, 2015

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SBI India’s largest public sector bank has recently launched mCash, easy and quick money transfer service. SBI mCash allows SBI customer to transfer money to anyone irrespective of whether the receiver is SBI customer or not. In order to transfer money you need email id or mobile number of recipient. mCash is accessible via Internet banking facility (www.onlineSBI.com) or State Bank Anywhere mobile app. This facility is not free you need to pay Rs 2.50 per transaction. Let’s take a quick look at how to use mCash by SBI.

How to use mCash by SBI for money transfer?

To Send Money

Sign into onlinesbi.com from the browser or State Bank Anywhere.
Click on State Bank mCash link.
Enter beneficiary mobile number or email id and amount and click on send.

To Receive Money

Recipient gets a link in the SMS or in email including 8 digit passcode based on the medium selected by the sender.
Recipient has two options to claim the funds. He can use mCash mobile App (Available on Andriod Platform) or He can go to State Bank mCASH link available on pre-login of Online SBI.
Receiver needs to enter Account Number, IFSC Code, passcode and Mobile number or E-mail address.
After verification of the details, real-time fund transfer will take place to recipient’s account.

Any SBI customer having Internet Banking facility can now transfer up to Rs 1000 at one time, up to Rs 2000 a day and up to Rs 5000 per month.

This facility is available for State Bank Group and IMPS enabled Bank only.

As per me, it is a very good initiative by SBI however, transaction limit of Rs 2000 per day and transaction charges Rs 2.5 per transaction is negative point of mCash.

What is your opinion about SBI mCash. Do share in comment sanction.

Advice to Young People & Entrepreneurs from Jack Ma

Business Ideas

Shitanshu Kapadia

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June 13, 2015

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Jack Ma, 57, founder of Alibaba and 26th richest man in the world with net worth to $37.1 Billon. He is self-made entrepreneur cum billionaire from china. He turned the idea of generating money from the internet into reality. He is giving a brief advice to young people and entrepreneur on how to become successful in business and life.

Advice to Young People & Entrepreneurs

Before you are 20 years old –

He says “Be a good student focus on your studies. Make enough mistakes. Don’t worry any mistake is an income and a wonderful revenue for you. Before taking up entrepreneurship get a little experience …

Between 20-30 years of age –

Jack Ma said “Before 30 years follow somebody, prefer to be a part of a small company over big company. You can learn more in a small company. At big companies you learn processing, you are part of big machine. At a small company you learn about passion and dreams, which is important to become an entrepreneur. Not only that you will learn how to do lot of thing at a same time.”

To become entrepreneur “It is not important that which company you go for, but it is important that which boss you follow. You should select a boss who teaches you differently.”

Between 30-40 years of age –

He says “Between 30-years of age you have to think very clearly that you are working for yourself if you really want to be an entrepreneur.” This is the decade that let you know which field is best for you.

Between 40-50 years of age –

By this time, you are aware of your strengths. This is the time of utilizing your strengths. “You have to do all these things that you are good at. Don’t try to leap jumps in new areas. It is too late. You may become successful but the rate of dying is too big.”

Between 50-60 years of age –

“If you are 50-60 years old work for young people, because young people can do better than you, so rely on them; invest on them, making sure that they are good.” said Jack Ma. It is time to make young people ready for entrepreneurship.

Over 60 years –

If you are 60 years old it is time to stay away from work. He said “Relax and enjoy yourself on the beach in the sunshine.” In short enjoy your retirement.

Do share your views on this motivational and inspirational video talk given by Jack Ma!

Ping Pay Multi Social Payment App – Axis Bank

Personal Finance

Shitanshu Kapadia

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June 12, 2015

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Ping Pay Multi Social Payment App – Axis Bank

Ping Pay – Imagine how good it is if you can send or receive money via WhatsApp. Well, your imagination is turned into reality. Now you can use Whatsapp, Facebook and Twitter for transferring money to anyone in the contact list.

Axis Bank, India’s largest private sector bank has recently launched wonder app called “Ping Pay”.Ping Pay is Multi Social Payment App which allows you to ask or give money or send recharge using WhatsApp, Facebook and Twitter. You can also send customized messages containing text, images, video and voice note along with money transfer. The best part of this App is that anyone can use this App, it is not mandatory to become Axis bank customer for using this App.

How Ping Pay Works?

First of all you need to download and install Ping Pay on your Smartphone.
1. You can download this app from google play (Android Smart Phone user) or from iTunes (IOS Smart Phone user)
2. Alternative way is to send SMS PINGPAY to 5676782
Once the App is installed in your mobile it will ask you your bank account number. You need to enter account number only at once and same can be set as default for all subsequent transactions.
Next step is to add your social networking accounts like Whatsapp, Facebook and Twitter.
Now to send or receive money or mobile recharge select person from your social network contact list and enter the amount which you want to send or receive.
If you initiate money transfer you will receive an auto-generated sender code which you need to share with the receiver.
Once he/she (receiver) enter this code money transfer can take place.
To receive money/recharge, the receiver bank account needs to be IMPS enabled.
Total 75 Banks are IMPS enabled.
Ping Pay is absolutely free and no charge is applicable for transfer of money or for recharge.
Ping pay is claimed to be secured. This app also requires MPIN at every login.

What can you do with Ping Pay?

Axis Bank customers can do following using this app.

Send Money & Recharge
Receive Money & Recharge
Ask Money & Recharge

Non Axis-Bank customers can do following using this app.

Receive Money & Recharge
Request Money & Recharge

So what are you waiting for start using Ping Pay Now!

If you are already using Ping Pay app do share your experience with all other readers!