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While starting a business as an entrepreneur, you must think about the company structure. Although I’m a fan of the Ltd company setup, one of the other most commonly used types is partnerships. You can have different types of partnerships based on your shareholding, liabilities etc. But you must think of some of these features of partnership before you decide this to be the future of your business structure.
Funding is one of the biggest constraints in running a business. In fact, lack of funds is the number one reason why most businesses fail. In this article, we talk about the power of crowdfunding to run a business. As the name explains, crowdfunding is about asking money from people to develop a business. It prevents you from going to specific investors and instead create an opportunity to put your idea out in the public domain.
Although these terms are used interchangeably, they have subtle differences. Entrepreneurship in general is used synonymously with innovation, minimum viable products and funding etc. Business on the other hand refers to a wider area including expansion of existing business, geographical expansion, etc.
There is a beautiful message in this quote by Swami Vivekananda – it is about personal development and self-improvement. This is based on the idea that all knowledge is internal. The external knowledge provides us with prompts to bring out this knowledge. Extending the same line of thought, we have to grow from inside out.
We first make our habits and then: This article is a discussion of how habits shape us – whether we can change and create habits that benefit us the most? The most important point to remember is the consciousness that our habits are our own creation. In other words, we are in charge while creating these habits whether we recongise them or not. Sometimes these habits help us whereas they harm us some other times. Key question to ask is – how many of our habits are we really aware of?
In a world where opportunities and challenges are not equally distributed, this quote makes you question your limitations. Although it is unfair the way these opportunities are distributed, we all have a few of those amidst limitations. We can cling to these limitations as things that hold us back.
None can destroy iron but its own rust: A beautiful Ratan Tata quote comparing your personality to iron and how it can be influenced. We’re all subject to multiple experiences in the world. Not all experiences can shape or change us. We often stand as the gatekeeper to decide which thoughts are let in.
Focus on the message: Emphasize the content and substance of what people say.
Ignore the speaker’s identity: Avoid being influenced by the reputation or status of the person delivering the message.
Encourage objective evaluation: Adopt critical thinking to assess information fairly and form unbiased opinions.
This discussion is around Dhirubhai Ambani’s quote “Ideas are no one’s monopoly, Think Big, Think Fast and Think Ahead”. The beauty of this quote is in challenging a concept of ideas winning the world. It tackles the notions of talent vs hard work, action vs words and more of these misconceptions which stand in the way of your success. Join our discussion with your comments and thoughts below.
Everything we hear is an opinion: I love this quote because it makes me pause for a moment to think. Facts have a compelling way of influencing us and strengthening or weakening our opinions. However, are all facts reliable? Is there a possibility that some opinions are misrepresented as facts? This has more context in … Read more