10 Differences Between Entrepreneurs and Businessmen

Entrepreneurs and Businessmen

There are many differences between entrepreneurs and businessmen but a major difference is there, which should be known by everyone who wants to become a businessman or entrepreneur.

So that major difference is that entrepreneurs always have a big new idea. 

By this they want to make money by solving some problems in people’s lives and businessmen always work on ideas which are already existing in the market and businessmen always give preference to make money rather than solving problems.

Why It is Important to Know Differences Between Entrepreneur and Businessman :-

It is very important to know the differences between businessmen and entrepreneurs.

Because after getting the real meaning of these two words, a person can relate themselves to what they really want to become in their lives and then they can start their own journey towards their goals and dreams which can be anyone either businessman or entrepreneur.

Here is the short definition of a Businessman and an Entrepreneur.

A businessman makes his place in the market with his efforts and dedication, whereas an entrepreneur creates the market for his own business. 

The businessman is a market player while Entrepreneur is a market leader because he is the first to start such an enterprise.

Here I am giving the 10 differences between entrepreneurs and businessmen:


1. In Terms of Ideas:

This is one of the big differences between entrepreneur and businessman which is in terms of ideas because an entrepreneur always has an unique idea which originates by himself only and by this he always wants to solve a big problem of society  and make money too.

An entrepreneur is always the first creator of a product, he invests time, energy and money on his own idea. 

A businessman always chooses a profitable business idea whether it is his original idea or an already existing idea, that’s why a businessman always faces a big competition in the market because many other people are doing the same thing but a businessman is the only person who can make a success out of any idea.

2. In Terms of Risk Taking:

In terms of risk taking a businessman always takes pre planned risks they don’t want to lose money and suffer from insolvency. 

That is why they always calculate profit and loss when it comes to business. 

Entrepreneurs always take unbelievable risks, usually they don’t care about losing  time and money because they would always be very passionate about their dreams. 

And when they do this with zeal, zest and passion, most of the time they get extraordinary results and great success. 

An entrepreneur is always a risk taker without calculating profit but a businessman always calculates profit first and then takes risk.

3. In Terms of Working Style: 

A businessman always does work for making profit, and their name for this world whether they are enjoying their work or not they are to do only work for better results in income.

They always want to become a big man by their money and standard anyhow.

They want to gain profit by hook or crook, businessmen always see the world as an opportunity.  

Entrepreneurs always do work which they enjoy, they always prioritise the world first and they always see the world as duty.

They always give preference to comfortability while doing any work, and always be passionate about doing something good for the world. 

Entrepreneurs often go into business for their passions rather than for profits.

4. In Terms of Customer Relationship:

A businessman usually sees their customers as his source of sales and earnings, for a businessman customers are like oxygen to survive in their business and for gaining good income. 

An entrepreneur always takes their customers as his source of duty which he has to maintain for lifetime an entrepreneur believes in maintaining relationships for lifetime rather than gaining profit. 

For an entrepreneur, customers are his companions whom he wants to make happy and satisfied by his work so he will not be compelled to do any other things for keeping them in their touch.


5. In Terms of Keeping Eyes on Competitors:

A businessman always tries hard to beat his competitors and win the competition. 

Sometimes he also considers cooperation and collaboration rather than competition to achieve certain goals. 

Entrepreneurs always learn from their competitors, they handle their competition in an easy and calm way.

They review their competition on a regular basis and face the challenge as a learning experience. 

Competitors encourage them to do more and more good work for going ahead from their competitors.


6. In Terms of Employer Employee Relationships:

A businessman hires employees and workers to grow his business and gives them targets to be completed in a specific time period. 

And he pays them for their hard work only and a businessman always maintains a worker and owner relationship.

An entrepreneur treats their employees as a friend and a leader, entrepreneurs never treat their employees as workers only, he always gives them respect and suggestions to do work in a good manner and invites them to help them grow.

7. In Terms of Money Making Mindset:

In terms of money making mindset a businessman is always afraid of losing money, it is the one of the huge fears which every businessman has. 

Many businessmen trust in a good economy to start their work, they always work for gaining profit, especially in the retail, and financing industry. 

Entrepreneurs generally take more risks with money finance and circumstances  in comparison to businessmen. 

Almost all entrepreneurs believe in this line which has been said by a big personality that  “nothing ventured, nothing gained”.

It means you can’t expect to achieve anything if you never take any risks.

Entrepreneurs always believe in saying that It is fine to make mistakes and lose money If you make some fundamental mistakes, then only you will look at the reason why this has happened.


8. In Terms of Time Management: 

A businessman never wants to waste his time, he always does his work in the same specific time period which he has already planned for that.

He never wants to delay any work or commitment to be out of schedule. 

An entrepreneur works as an artist or a imaginator, only his imagination makes him an entrepreneur. 

An entrepreneur’s product is always his masterpiece, that is why he always does work in a calm way because in hurry we can never imagine things. 

And without imagination we can not make any unbelievable product or brand.

Entrepreneurs always work on the idea whether that idea will take much time but the outcome, which we will get that will surely surprise everyone. 

9. In Terms of Understanding The Success:

Businessmen always describe success in money and growth.

How much money they are getting from their business, what is the turnover of their business, how much growth they are gaining on a daily basis, how much people want to work with them and want to invest in their business, that is the real success for businessmen.

Entrepreneurs never describe success their work describes their success, they always believe in one thing that if we are talking about our success then it is not your success it is only money which you have gain from your work but if people are talking about yourself in a good way and because of your work then it is your success.


10. In Terms of Opportunity Understanding:

Businessmen always take money as an opportunity, if they are seeing any area where they can invest and make money in a huge amount then they will take that thing as an opportunity and they will never miss that opportunity.

Entrepreneurs always take their duty as an opportunity, entrepreneurs always want to solve problems of people by their idea.

And entrepreneurs take that work of solving problems of people as an opportunity which will be done by them.

Conclusion

I have talked about businessmen and entrepreneurs but by these things i don’t intend to offend anyone because both businessmen and entrepreneurs are important in today’s era we need both of them at some places.

So I hope this article will be helpful for you and give you the right vision towards your goals and dreams.



Rural Entrepreneurship – The Scope of Opportunities

Rural entrepreneurship is a Ray of Hope for all rural human beings by this they will get the opportunities to become something in their life or at their place specially, and they will be able to find their exact potential to do something for their family too.

These are the most popular schemes by the government to encourage rural entrepreneurship 

Here is the most important thing which I am going to tell you that the government is providing many popular schemes to encourage rural entrepreneurship.

So if you are having any dream on which you want to work but not having any support then that is made for you only.

So do not feel pessimistic, be optimistic and start working on your dreams from now on. 

Here I am giving you knowledge about some of the most popular schemes by the government to encourage rural entrepreneurship so have a look.

  • Prime Minister Employment Generation Programme

This scheme provides subsidy for entrepreneurs. It has been implemented by Khadi and Village Industries Commission (KVIC) through identified banks, only for new projects.

All aspiring entrepreneurs can apply for this scheme and Self Help Groups (SHGs) can also apply for this scheme.

  • Centrally  Sponsored Schemes (CSS) of Export Market Promotion

The CSS is providing for the overall development of the coir industry, to support modernisation of export-oriented units to popularise coir products in global markets, and to participate in international fairs, and seminars.

It provides you up to Rs 2 lakh for participating in fairs and 25% of production cost with a ceiling of Rs 15,000 for publicity material.

  • Dairy Entrepreneurship Development Scheme (DEDS) 

This scheme is being implemented through NABARD which provides financial assistance to commercially bankable projects with loan from Commercial, Cooperative, Urban and Rural banks with a back ended capital subsidy of 25% of the project cost to the beneficiaries of general category and 33.33% of the project cost to SC & ST beneficiaries. 

Any individual entrepreneur, farmer, Group of farmers, Self Help Groups, Dairy Cooperative Societies, District Milk Unions and Panchayati Raj Institutions are eligible to apply under the scheme.

Successful Rural Entrepreneurs –

There are many successful rural entrepreneurs who have made their names in the rural industry so you can also become one of them.

Here I am sharing some big successful entrepreneurs names and work, you can also relate yourself with them because they had also started as a common man.

  • Mansukhbhai Jagani: Mansukhbhai is a popular rural entrepreneur. He developed a motorcycle based tractor for India’s poor farmers that is very cost effective and fuel efficient.
  • Mansukhbhai Raghavjibhai Prajapati: He is also a famous rural innovator in India known for his earthen clay based functional products like: Mitticool Non Stick Clay Tawa Low cost water filter He is the holder of the Indian patents for these products.
  • Chintakindi Mallesham: Chintakindi Mallesham is also in the top 10 rural entrepreneurs who invented a device for weaving which mechanized the process and reduced the human effort to bare minimum. This invention increased the production from one to six saris in a day and has given work to many people, also won a patent.

As per the sources India got 3888.12 crore turnover from rural areas in 2019 so Rural entrepreneurship is inevitable especially in India, whose majority of population live in villages.

So if you people take rural entrepreneurship seriously I am sure you will be the next entrepreneur of the rural industry.

All you need is to believe in yourself and do give a start to your idea and that idea can give you everything.

Why Rural Entrepreneurship is needed

  • Rural entrepreneurship has become essential as per today’s era as we can see the potential in today’s youth to do something big but they are not getting opportunities and platform to prove themselves especially in villages.
  • So that if rural industries generate large-scale employment opportunities in the rural sector then rural area’s people will get a chance to prove themselves.
  • Rural entrepreneurship is needed because by this villages can become more developed.
  • Rural entrepreneurship will work like a “pain killer” for those who are working in different cities but can’t come at their home because they don’t have employability in their village.

So by rural entrepreneurship that pain will be detected from their lives, so that people will feel free and happy because they would be with their families after completing their work.

What rural entrepreneurs can change 

So here I am going to talk about the most important part of this article, what rural entrepreneurs can change:-

  • Rural entrepreneurs can make a big change in the lives of many people in villages because after becoming an entrepreneur they can set an example for a vast population of rural areas.
  • Rural entrepreneurs can give a vision to rural people who are having some big dreams in their eyes for themselves and for their children too.
  • Rural entrepreneurs can make a big change in the field of art because a large section of artists are living in rural areas so by promoting them they can make a big change.
  • Rural entrepreneurs can change the mindset of urban people that rural people can not do anything and they can change the life status of rural people too.
  • Rural entrepreneurs can make a big change in the economy of our country by this they can remove poverty from our country because 60% of the population is from rural areas. 
  • If you take rural entrepreneurship seriously then you will be able to take benefits of government schemes as well. 

So by these points I just want to tell you all who really want to do something big in their life then first you have to do only one thing that is “Trust in yourself”.

Because the government can only support you by giving some schemes but only your inner voice and hard work will make you a big personality.

“Because today everyone knows that the prime minister used to be a tea seller but when he was not a prime minister, how many used to know about him.”

So stop thinking that how many people know you. Start working on your dreams because only your work can give you your real identity.

So i have said many things about rural entrepreneurship so i hope you all people would be able to interact with my words, and will get a new vision towards your dreams.

And you will start working on your dreams, and hopefully this article will help you in finding your real potential and by this you will get to know about many opportunities for that you can start working from now.

I feel that you people  will be able to find your inner talent or especially what you people really want to do for yourself. And you will get to know how it can be done by you.



What is The Insolvency and Bankruptcy Board of India (IBBI )

Insolvency and Bankruptcy Board of India

What is The Insolvency and Bankruptcy Board of India:-

The IBBI, insolvency and bankruptcy board of india falls under Insolvency and Bankruptcy Code 2016, it is a regulator which regulates the profession as well as processes related to insolvency and bankruptcy. 

It regulates bad loan cases reported by various creditors, which are especially involved with banks in India. It works towards resolving any insolvency for corporates, individuals and partnership firms.

  • It was established on 1 October 2016  in New Delhi.
  • Parliament of India is the founder of Insolvency and Bankruptcy Board of India.
  • Dr. M. S. Sahoo is the Chairperson of the Insolvency and Bankruptcy Board of India.

To know what this department does, first let’s understand what Insolvency is –

What is Insolvency ?

Insolvency is a state of financial distress which describes a situation arises due to the inability to pay off the outstanding debts on time to the creditors because the assets are not enough to cover up the liabilities.  

In the case of companies insolvency caused due to the continuous fall in sales, and it doesn’t have enough cash to meet out it’s day to day expenses of the business for which it takes loans from the creditors and banks.

Insolvency can arise from poor cash management, a reduction in cash flow, or an increase in expenses.

IBBI deals with some of these proceedings:

  • Corporate Insolvency
  • Corporate Liquidation
  • Individual Bankruptcy

Functions of Insolvency and Bankruptcy Board of India 

Here we are going to discuss some functions of Insolvency and Bankruptcy Board of India:-

  • Corporate Insolvency resolution process (CIRP):-  The insolvency resolution process is a one under the Insolvency and Bankruptcy Code, 2016, where the National Company Law Tribunal (NCLT) initiates a corporate insolvency resolution process (CIRP).

When a company defaults on making payment to creditors then creditors can file an application in front of NCLT if creditors loss is minimum 1 lac, because  the minimum amount of default for initiation of CIRP is Rs.1,00,000. 

After that NCLT will initiate an IRP interim resolution professional, whose name will be given by the creditor, which can be anyone from the creditor side.

Under IRP, the Insolvency resolution process appointed professional will be having the power to take charge of the company which has defaulted. 

That professional’s main work is taking necessary steps to revive the company.

Appointed professionals would have the power to raise fresh funds to continue operations.

  • Corporate Liquidation:- Liquidation is a process through a company which is going to be shut down and its existence comes to an end, because it is unable to pay its creditors and need to sell off its assets to pay them.

Liquidation process can be initiated under the insolvency and bankruptcy code 2016:- If the IRP interim resolution professional fails to find a resolution on or before the expiry date of insolvency resolution period.Then the company becomes liquidated to pay the creditors by selling off its assets .

In starting of this process first a public announcement shall be made about the corporate debtor being liquidated.And then further process can be done.

  •  Individual Bankruptcy:- As per the IBC Insolvency and Bankruptcy Code, 2016, a creditor can file petition for individual bankruptcy for an amount exceeding as little as Rs 1000 as per the notification by the Central Government. It can be revised upto Rs.1,00,000.

The IBC does contain a chapter relating to insolvency and bankruptcy process for individuals and partnership firms, but the rules for individual bankruptcy are yet to be notified.

Insolvency and Bankruptcy Board of India recently started to promote the development and working and practices of insolvency professionals,insolvency professional agencies and information utilities so now we will talk about these points:-

  • Insolvency Professionals:- An Insolvency Professional is one who is registered with the Insolvency and Bankruptcy Board of India (IBBI). They work for the dissolution process of an insolvent individual, companies, or partnerships.

These professionals get authorization from the IBBI to do work on behalf of such insolvent individuals and companies. 

In the situation of bankruptcy, the insolvency professionals play a big role in liquidating the entity assets and other settlement processes.

  • Insolvency Professional Agencies:- Any registered agency with IBBI becomes insolvency professional agencies, the most important work of these agencies are to regulate the activities of insolvency professionals and ensure their development in the industry. 

These professional members of the agency are required to work as per the terms and conditions of the insolvency agency code. 

These agencies have the primary function of granting membership to insolvency professionals.

These agencies also enquire about the member’s grievances and take steps to resolve those.

  • Information Utilities:- An Information Utility becomes a professional organization after getting registered with IBBI under Section 210 of IBC, 2016.

It works for providing authenticated information about debts and defaults. 

Information Utility plays a big role in storing the financial information of the users.

And it helps the lenders in taking the informed decision about the credit transaction.

It would also make debtors attentive as the financial information is available with the utilities. 

It plays a vital role in the creation of evidence; the information can also be used as evidence in bankruptcy cases.

How do you declare Insolvency in India ?

Before going through this point we should have knowledge about the difference between insolvency and bankruptcy, there is a minor difference between insolvency and bankruptcy.

Insolvency is the state of being unable to pay the money owed, by a person or company on time and bankruptcy is a process of declaring insolvency in india.

Bankruptcy:-

When a person becomes insolvent and he wants to become debt free so he files an application to the relevant court where he declares himself as insolvent due to his inability to pay his debts and expenses, seeking to be declared as a bankrupt.

When court decides the appropriation of the personal property of the insolvent among his various creditors. It is the last stage of insolvency and gives a new lease to the insolvent to start a new fresh. 

It relieves the individuals or a company from all the debts and other disadvantages of insolvency.

By following this process people can declare their insolvency in india.

Structure of IBBI

IBBI has a total of 10 members committee which includes one chairperson, representatives from the Ministries of Finance, Law and corporate affairs, and the Reserve Bank of India.

  • Dr. M. S. Sahoo, Chairperson, Insolvency and Bankruptcy Board of India
  • The Insolvency and Bankruptcy Board of India has appointed three people as whole time members:
  1. Sh. Sudhakar Shukla
  2. Navrang Saini 
  3. Mrs. Mukulita Vijayawargiya 
  • The Insolvency and Bankruptcy Board of India has appointed 4 people as Ex-officio Members:
  1. Dr. Shashank Saksena, Adviser (Capital Markets), Department of Economic Affairs, Ministry of Finance
  2. Sh. Gyaneshwar Kumar Singh, Joint Secretary, Ministry of Corporate Affairs
  3. Dr. Rajiv Mani, Joint Secretary and Legal Adviser, Department of Legal Affairs, Ministry of Law & Justice
  4. Sh. Unnikrishnan A, Legal Adviser, Reserve Bank of India
  • The Insolvency and Bankruptcy Board of India has appointed 2 people as part time Members:
  1. Dr. Krishnamurthy Subramanian, Chief Economic Advisor
  2. Sh. B. Sriram, Former Managing Director & CEO of IDBI Bank Ltd.

So here I have given all the information about the IBBI insolvency and bankruptcy board of India and IBC Insolvency and Bankruptcy Code, 2016. 

Which was established to support the falling companies to stand again on their feet by restructuring their credits so that they can repay them easily and make a fresh start. 

I hope all this information will surely work for you and give you knowledge in an easy way which you will be able to understand very easily.


20 Functions of an Entrepreneur

Functions of an Entrepreneur

Are you planning to get into entrepreneurship? 

Or are you already an entrepreneur? 

If you jump into entrepreneurship without knowing what all you’ll have to do after taking it up, The chances of your failure are more than you becoming successful. 

Improper planning can lead you in the wrong direction too and can increase the chances of getting failure. Before entering into any entrepreneurship, you need to know some basic but indispensable functions that may prepare you for upcoming challenges in your venture.

To make your entrepreneurial journey successful here we have written down 20 functions of an entrepreneur – 

20 Functions of an Entrepreneur

  1. Responsibility towards the society
  2. Decisiveness
  3. Develop Inventiveness
  4. Experiments
  5. Be organized
  6. Spread the learnings
  7. Control of situations
  8. Recognizing the opportunities
  9. Riskiness for venture
  10. To manage the roles
  11. Make public relation
  12. Transfer of learning
  13. Transfer of  technology and its acclimatization
  14. Economical Development
  15. Division of incomings or earnings
  16. Acceptance
  17. Culture of contribution
  18. Clarity of target
  19. Finding niches
  20. Building networks

So let’s reed them in detail now

  1. Responsibility towards society –

When you start a venture in order to grow self economically and livingly, he owes the responsibility to develop society as well.

Your entrepreneurship must be the solution to the society’s problem, not the reason for their problems. It must be uplifting the economic condition of society too along with the entrepreneur. 

You need to make sure that your organization or venture is fulfilling the responsibility to develop the society to make it a better version.

It is helping in making a better living for people. Start the entrepreneurship that opens the doors for new opportunities for the society and for yourself too so that it aids you to maint your responsibility towards the society where you dwell-in.

2. Decisiveness – It is very much crucial to take some riskful decisions in order to grow. Everytime you can not make an accurate and correct decision which always will head you in the right direction.

You shall have to make some decisions to get the wrong or right out of it. Making decisions is important rather than making always right ones because that is practically not possible at all.

Calculate the risk factors of the decisions for entrepreneurship and work on it.Make some riskful decisions for your entrepreneurship which are much needed for the venture in order to give pace to its growth.

3. Develop Inventiveness – Sometimes a hand which doesn’t know to be an initiator becomes a very big loss for entrepreneurship.

Sometimes what your product needs is just the right initiative at the right time.The demand of the market can be supplied when you fulfill at the right time before anyone else does in the market.

You can see the instance of any industry, the initiator who brought-up the solutions of the problems of society and took initiatives, is still booming the market.  

4. Experiments – it is a very much needed element in entrepreneurship. You shall have to bring new methods in order to increase earnings and growth of the product.

Experiment with the innovations.Make the products innovative but before making it so, raise the demand of such innovation in market so the experiment can have more possibilities of getting success.Ba innovative with the techniques of the production, customer services and with your product.

A customer likes to be serviced with new better things. In order to stand still in this competitive market, you shall need to experiment with everything and to bring the innovations in entrepreneurship.

5. Be organized –  Keeping all the resources is very much important to run the venture smoothly. All kinds of resources that entrepreneurship requires- human and nonhuman resources are extremely important for the venture.

Availability of all needed resources at the right time avoids the obstacles of increasing the productivity of work. By being an organized entrepreneur only, you can satiate the purpose of increasing productivity at your venture.

6. Spread the learnings – When you start your entrepreneurship, you also learn by your mistakes and try to earn the experiences from those mistakes or try to learn from the other entrepreneurs’ experiences. In the same way, share your experience that you gain through  your learning and mistakes so that it will help future entrepreneurs in their learning phase.

This can easily be done by workshops, seminars, industrial visits and many more things. Share and read success stories, it will guide you a lot and will work as practical guidance for future entrepreneurs. That will help to increase the economical level of nations.

7. Control of situations – A venture just does not need the resources to keep it functioning, but it needs the team or people also who can deal in tactful conditions too. A venture gets loss and profit both but utilising the profit to double the productivity and dealing with the losses, is not an easy act to perform in the venture.

It needs a calm and decisive mind which can make some decisions while keeping the emotional part aside. You shall have to develop leadership qualities, interpersonal skills , skills which can handle disturbance through various things, skills which can manage the resources, develop the skills in the employees and can think for the utmost benefit of the venture.

8. Recognizing the opportunities – A venture value the works which bring social and economical increase in entrepreneurship.

For such opportunities you shall have to become the searcher who can figure-out the usual and unavoidable necessities of the people. Such opportunities will help you to create a beneficial prospect to your venture. 

9. Riskiness for venture – It is a major and indispensable function of entrepreneurship. An entrepreneur shall have to become a risk taker regarding the production, estimation of material consumption,  machinery, technology and many more things in the venture. Opportunities of the organization shall work when, calculated risk of needed elements will allow it to increase the production.

To bring innovation in the production, to maximize the productivity, to increase the demand, suh risks are very important to take. Even not just to increase entrepreneurship but sometimes to bear with the losses, risk is much needed. To cover the losses through theft, robbery, hooliganism or any natural or man-made misshappening risk becomes important.

10. To manage the roles – A venture demands multiple roles of the entrepreneur. An entrepreneur holds the command of multiple functioning like, planning, damage controlling, organizing, risk taking, leading and many more. An entrepreneur plays several roles in order to run the venture with proceeding graph.

The roles are categorised into interpersonal, informational, and decisional roles. Interpersonal roles include figurehead role, leader roles, liaison roles, Informational roles include monitor roles, spokesperson role,disseminator roles where as decisional roles include disturbance handler, resource allocator, negotiate role. All roles vary on the basis of work.

11. Form public relation -Every new venture needs organized relations with the public to develop credibility in the organization.

The productivity gets increased from the venture through public so it is so necessary to form relations with the public in order to keep the venture functioning.

You need to target your public as per your demand of the venture then accordingly you can step in the path to build terms with them. This function is very crucial especially in the initial phase of any venture. Because many ventures were discarded due to not having public relations that could- help them to transform their idea into reality.

12. Transfer of learning – When you join a venture you work as a beginner and try to learn from the knowledge which has been transferred by experienced entrepreneurs.

In the same way, your knowledge will also be beneficial for future and budding entrepreneurs and employees of the organization. Your transferred knowledge will help your new employees in adapting themselves in the aura of your organization as fast as possible. Such transfer brings maximum efficiency in work.

For such transfers you need to ensure to store employee’s key knowledge to share it with new ones in future.

13. Transfer of  technology and its acclimatization – The transfer of technology generally known as TOT. It disseminates the required technology to the different ventures or entrepreneurial arenas of the world from different corners of the world.

In such a way it plays a very big role in uniting the world and  helps in increasing the economy of the venture which holds this technology. Its adaptation or acclimatization is equally important to function the entrepreneurial activities in correct and progressive order.

Because you can own the technology with monetary terms but can not adapt it with the same, you shall have to be used to it along with your consumers shall also need to be. It is important to impart because it lessens the processing timing and saves a lot of money which we put in human resources.

14. Economical Development – To sustain the economy in entrepreneurship is necessary to keep the work throughout and keep it functioning properly.

Every organization helps in sustaining the work and the economy to balance it. It can be made possible by spreading the venture in different corners of the country and world.

15. Division of incomings or earnings – It is a very necessary function of business to make separate division of complete income.

Every part of the production requires a particular amount of income to function properly, so deciding the part of income for production’s different elements is the work of so much accuracy and efficiency.

Even in the time of losses some functions are mandatory to run, so keeping such expenses while dividing the income is also important. This the responsibility of the employer to keep everything in mind and make the accurate divisions to not to let work get hindered through such mishappenings.

16. Acceptance – This function of entrepreneurial arena will not affect the industrialization directly in its absence but gradually the deficiency of acceptance in the team of the venture may give a discard to the venture.

The ability to accept if something is not being known by the employer or employees of the organization and learning it can only help them to keep growing for longer visions.

When the employer or employees of the venture stop accepting the fact of having aspace to learn more then the gradually the venture starts working on its edge. A venture grows when the team has the will to become the learners throughout.

17. Culture of contribution – A fist is complete with the contribution of all 5 fingers of a hand as a venture is complete with the contribution of employer and each and every employee.

When you contribute while having a zeal in the heart to contribute not to the organization, not to the employer but to the nation,but to the whole world. This must be in the culture where you work, for who you work, by forcing it,one can not keep it for a long time.

This can only be developed in each and every member of the organization by having a thought to give contribution in making a better nation and world.

18. Clarity of target – Every person comes in entrepreneurship with a purpose and it varies person to person. But sometimes some work with no purpose, and there the problem starts happening.

You will need a purpose if you want to create a successful entrepreneurial kingdom. Some have purpose to earn money, some have purpose to earn status, some have purpose to influence others. There is no judgement happening on the purposes, it is an individual’s choice.But having a purpose is necessary to keep growing further.

19. Finding niches – A good entrepreneur never misses an opportunity where a great entrepreneur turns every  chance into an opportunity. You are great in your work when you are able to identify your niche where you are best in it.Knowing in  all spheres is good to work but having your own niche is necessary to grow.

Once you find your niche you can be better to solve others’ problems in your niche. You will have to keep working for it. So if you already know your niche, that’s good, if not, find it and work on it.

20. Building networks – Networking building is the last step of entrepreneurship where our whole production lies-on. Your production will be able to help to maximum consumers of it when your network will be enormous.As larger the network you have, more impact your product will create. Your larger network will bring the change on a huge scale. That you can get through by developing credibility.

When one enters into the business or entrepreneurial world, due to lack of knowledge, due to less ability of pre assuming the losses and many more unpredictable factors become the reason for a great failure of the venture. Then you just need proper guidance.

Here are some main functions that everyone must know before entering into entrepreneurship in order to avoid mistakes and to run it on a better scale. I hope this will help you and make your venture a success.

Dairy Entrepreneurship Development Scheme – Full Detail

Dairy Entrepreneurship Development Scheme

Dairy entrepreneurship provides a very big scale of employment and supplementary income to a large number of people, and the dairy sector contributes significantly to poverty reduction in rural areas.

What is Dairy Entrepreneurship Development Scheme ?

The Department of Animal Husbandry, Dairying & Fisheries (DADF) launched  the Central Sector “Dairy Entrepreneurship Development Scheme”. 

This scheme has been implemented by the National Bank for Agriculture and Rural Development (NABARD).

Eligibility and Process to Get the Benefits of Dairy Entrepreneurship Scheme

So now we are going to gain knowledge about eligible people under dairy entrepreneurship development scheme:

Eligible Beneficiaries under Dairy Entrepreneurship Scheme:- 

  • An individual entrepreneur
  • A farmer
  • Group of farmers
  • Self Help Groups 
  • Dairy Cooperative Societies
  • District Milk Unions 
  • Panchayati Raj Institutions 

These all can apply for a dairy entrepreneurship development scheme, these all are eligible for this.

Now let’s talk about the process to get the benefits of dairy entrepreneurship scheme:

The government, under the Dairy Entrepreneurship Development Scheme is providing subsidy through NABARD on dairy installation and dairy products equipment.

  • As per DEDS, dairy entrepreneurship development scheme a person will get 25% capital subsidy on the total cost of dairy installation. 
  • An SC/ST candidate may get up to 33% subsidy. 
  • The subsidy is extendable for only up to 10 animals. 
  • For one animal the central government provides Rs 17,750 as subsidy. 
  • For SC/ST people the subsidy becomes Rs 23,300 per animal. 
  • A general category person can avail up to Rs 1.77 lac worth of subsidy upon opening a ten-animal dairy.

Subsidy on Dairy Equipment:

  • As per the scheme, one person can also purchase equipment for the manufacture of dairy products. 
  • On the purchase of a Rs 13.20 lac machine, that person can avail 25% capital subsidy (Rs 3.30 lac). 
  • SC/ST candidates can get Rs 4.40 lac worth of subsidy.

Subsidy on Milk Cold Storage: 

  • The Dairy Entrepreneurship Development Scheme also provides subsidy for the installation of cold storage units in order to preserve milk and milk products. 
  • Cold storage may cost Rs 33 lac so the government shall give up to Rs 8.25 lac to general applicant and Rs 11 lac to SC/ST applicant as subsidy.
  • So by following these different processes you people can avail for the different types of benefits.




This scheme has multiple objectives such as:

  • This scheme is implemented for generating self-employment.
  • This scheme is generating opportunities in the dairy sectors.
  • This scheme is providing infrastructure for the dairy sector.
  • It is going to set up  modern dairy farms. 
  • It is providing infrastructure for production of clean milk.
  • It is increasing the development of good breeding stock.
  • It is bringing structural changes in the unorganized dairy sector, by following this process initial processing of milk can be taken up at the village level.
  • It is upgrading traditional technology to handle milk work on a commercial scale.
  • It is covering activities such as enhancement of milk production,transportation, processing and marketing of milk. 
  • This scheme provides back ended capital subsidy for reliable projects.

Dairy entrepreneurs can actually contribute to the society in the following areas:

  • Dairy entrepreneurs can create jobs for the large section of unemployed educated youth.
  • Dairy entrepreneurs can create sustainability of commercial dairy production.
  • Dairy entrepreneurs can introduce new technologies and new products through entrepreneurial spirit.
  • They can reduce poverty, nutritional hunger through dairy development.
  • Dairy entrepreneurs can give their contribution in increasing income and equity.

Here i am sharing the 5 entrepreneurs name who are changing milk drinking in india:

  1. Devendra Shah – Founder, Parag Milk Foods
  2. Aalekh Agarwal – Founder, Cowboys.desi
  3. S Nagarajan – Managing Director, Mother Dairy
  4. Srikumar Misra – Managing Director & CEO, Milk Mantra
  5. RS Sodhi – Managing Director, Gujarat Cooperative Milk Marketing Federation (Amul)

Why Dairy Entrepreneurship Development Scheme is Launched & When it is Launched

Why it is Launched :-

Dairy Entrepreneurship Development Scheme is launched by the government to extend

assistance for setting up small dairy farms and other components to bring structural

changes in the dairy sector.

When it is Launched:-

The Department of Animal Husbandry, Dairying and Fisheries (DAHD&F) launched a pilot scheme titled “Venture Capital Scheme for Dairy and Poultry” in the year 2005-06.

While a mid-term evaluation, some specific recommendations were made to accelerate the pace of implementation of the scheme. 

When the department received representations from various quarters including the farmers, Governments and banks, DAHD&F determined to make some changes to the scheme, including changing its name to Dairy Entrepreneurship Development Scheme (DEDS).

The revised scheme has come into operation from 1 September 2010.

How People are Getting Advantages of Dairy Entrepreneurship Development Scheme 

In this scheme farmers are getting a big advantage of loan which is of worth Rs 7 lakh for 10 animal units, Minimum limit is of two animals and highest limit is of ten animals. 

25 percent of the project cost will be applicable as per the back ended capital subsidy.

Some other advantages of this scheme:-

  • It is a very environment friendly business because producing dairy foods requires natural resources such as energy, land and water so this can never arise pollution which is happening because of many industries. 
  • Dairy community takes environmental stewardship seriously and is committed to contributing to sustainable food systems.
  • It would be having a very big advantage of increasing demand for milk products, because this demand is rapidly increasing day by day.
  • Cow dung is a good organic manure that increases soil fertility, so it can also be a very good advantage of dairy business.
  • Cow dung can be used for the production of biogas, so by this also this business will play a big role in the dairy farming industry.

So as we have talked about many things regarding Dairy Entrepreneurship Development Scheme so as per me all the people who want to step in this entrepreneurship they will get all the knowledge about that.

I hope this article will be useful for you and you will be able to find all your questions answers which are clicking in your mind from a long time so get your answers and take a further step towards your goal.






Entrepreneurship Development Institute of India (EDII)- Benefits, Eligibility and Admission Procedure

Entrepreneurship plays a very significant role in the economic development of the nation. Before embarking-upon any entrepreneurship, knowing the accurate procedures, risk factors and plannings are the crucial elements. 

When one doesn’t get formal and practical  training and conditions to prepare themselves for the coming outcomes in both aspects, survival becomes difficult for budding entrepreneurs. 

In the absence of such development programs, entrepreneurs don’t come to know about the advantages which can be taken through proper guidance and knowledge. 

Less awareness of present existing rules and regulations end-up in not acquiring basic competencies which is extremely required to make entrepreneurship a success. 

The absence of such institutes make untouch the entrepreneurs with necessary elements like, management consultancy during the establishment period, subsidies and tax reliefs, proper marketing strategies, and many more.

By keeping all the requirements and skills in consideration, an autonomous and charitable Entrepreneurship development institute of India was established in 1983 in Ahmedabad, Gujrat.

It is completely an non-profitable or unremunerative institution of India which is not commercially motivated  thoroughly. The funding is done by the pinnacle and vertex institutions of finance. It is sponsored by IDBI Bank, IFCL Ltd. , ICICI Bank and SBI.

The government of Gujarat impledged 23 acres of land, where the campus of EDII is infrastructured. To fulfill the objective of EDII, it has started 12 more state level development centres and institutes exclusively for entrepreneurship. 

EDII has been endeavouring to impart entrepreneurship in the curriculum of maximum schools, colleges and institutes to make reach to the maximum number of people. The Ministry of External Affairs (India) had assigned the work of spreading ED not just in the house of the nation but in the different parts of the world as well. It has successfully carried out ED centers in Cambodia, Lao PDR, Myanmar, Vietnam, Uzbekistan and Kazakhstan and looking forward to set-up in african regions soon. 

How EDII is Helping Entrepreneurs to Develop Entrepreneurship Skills?  

The programme of entrepreneurship of EDII can have you obtained help in different dimensions of your entrepreneurial journey. EDII helps through his strong and influential linkages to students to grow and build their network in entrepreneurship. It provides a platform to the students to spread their wings in a calculated risk zone.

  • Creating a reliable will – EDII has several tie-ups with government and non-government sectors to avail more opportunities to take initiatives. The credibility comes when you go with the institute’s cognizance instead of going as an individual to create even the ambiance for entrepreneurship. It helps you in creating a reliable will  that supports in every further process of entrepreneurship. 
  • Risk taking plannings – When one thinks to transit a traditional entrepreneurship to an progressive one, the risk factor gets higher which requires measured and calculated risk taking plannings. Such skills to get the enough amount of courage can only be gathered by practical practices that one gets in EDII. As technical skills can be learnt but emotional skills can only be developed. 
  • Utilizing the national resources – A business has no limits in availing the products beyond the geographical boundaries of a nation, whereas entrepreneurships have such limits and such programs  help to embark-upon new start-ups in the geographical boundaries of a country and utilise the resources of nation in nation only. This indirectly helps the economy of the nation. However one would be able to satiate the supply where the demand gets risen from.
  • Executing the ideas into reality – Entrepreneurship development institute of India is working on the deeper enrooted problem of the nation like India where youth has innovative minds along with having no skills to transfer the ideas into execution. Such institutions help youth in executing their ideas into reality and to get the society and self utmost benefit by providing them proper training and learning.
  • Preparing for the losses – Failures and losses are the unavoidable elements of an entrepreneurship. But when one gets such elements without having any pre-prepared plannings, then it ends up in the wrap-up of entrepreneurship. To avoid such situations to come, these programs help a lot. These programs prepare you for the upcoming  loss factors they one may have.
  • Increasing the innovative productivity – EDII renders you the experience of experimenting in your work which gives you the estimation of almost every mistake that you may attempt while learning. It benefits you in such a way that it helps you in attempting always fresh mistakes in order to learn new every time and that increases the innovative productivity of your work.
  • Learning from the experiences – EDII opens the doors for plenty of opportunities as it has its own unique curriculum, abundance of activities happening in its infra, highly qualified faculties and their experiences of their respective fields.Being the student of EDII itself help them in building their own network which help them in their own venture.
  • Networking – EDII has its successful alumni network who are accomplished entrepreneurs. Their experience of being an alumnus/elumina and of being a success at venture will certainly help new learners in order to grow their own kingdom in the entrepreneurial world.
  • Collecting Funds – Being a part of EDII helps you in collecting funds and angel investors. The credibility and reliability get increased with the name EDII. Span of time is also an element that brings credibility as EDII has been preparing entrepreneurs for the last 3 decades. 

Eligibility and procedure to get admission in EDII

Several courses, diplomas are being provided by EDII and each course has its own requirements and eligibility criteria. But there is a certain parameter for overall courses. 

Candidates must be a holder of a Bachelor’s Degree with 50% or its equivalent CGPAfrom a renowned university. But if the candidates belong to Scheduled castes (SC), Scheduled Tribes (ST), and from a Differently Abled (DA) category then the minimum 45% is required.

Candidates who are appearing for the final year of their bachelor’s degree and who are awaiting for their result and degree after having an appearance in exam, can also apply.

Candidates must have appeared in one of the following entrance exams like, CAT, GMAT, XAT, MAT, CMAT, ATMA, and must have scored the minimal requirement scores.

Through the Group Discussion (GD) and Personal Interview (PI) eligible candidates are shortlisted.

Final merit list gets prepared on the basis of the learner’s performance in Entrance test, Group Discussion, Personal Interview and any other academic or extracurricular achievement. 

Application form for EDII can be filled offline and online both. Through the website of EDII, application form can be filled and registration fee can be submitted. For the procedure one needs to fill the form which is available on EDII’s website and send the demand draft at EDII Ahmedabad. 

In the absence of proper planning and execution may entrepreneurs fail miserably. But EDII lessens the chances of having such a situation for entrepreneurs. Running a venture is not easy but nurturing it with proper growth is a challenging process which accumulates your dedication, perseverance, patience, belief in your work and so many more elements. That’s what such institutes do. Such institutes become the catalyst in the process of becoming an entrepreneur. 

I hope this article will solve all your queries regarding the Entrepreneurship program and will help you in the journey of making your own entrepreneurial arena a success.

How to Start a Solar Energy Company

Solar energy is one of the never ending energy source. There are many opportunities for fabulous business career. Alternative energy sources are on the mind of everyone this trend is going to continue.

Oil prices are increasing day by day and it is a limited source of energy. We have limited fossil fuel on the earth but the sun is an unlimited source of energy. We have one more unlimited source of energy it is windmills but it has too many barriers to establish it.

Solar energy power plant system is easier to establish than windmills. India has been working on the solar system for 50 years and now the rates are very low here in comparison of starting time.  

The government has also launched several schemes to promote this.

HOW TO START SOLAR ENERGY COMPANY

Types of solar energy companies

There are three types of companies in the solar industry-

1.) Solar EPC company –   EPC is engineering, procurement and construction. EPC term is for providing end to end solar services from designing the system, procuring the components and installing the project. Under EPC system you set the power plant to third party and purchase the complete component of the developer the same developer offers you the profit on the payment condition. EPC buy material from manufacturer.

2.) Manufacturer –   It makes the necessary material for the solar projects like solar cell, panel, stand etc.

3.) Contractors –   People required to do the actual ground work and this work of contractor. They do physical work for solar business like to set solar panel and maintenance of solar panel etc.

Process of establishing a solar energy company

  • Make a business plan – 

For making a solar energy business plan you should work on these points

Research on market –   The first step you need to take before starting a company is to do a research on market conditions, this is the most important step in the success of your business. Do search about raw material for solar plant, market competitors, costs etc.

Make a good combination with govt. Electricity department because you have to sell your electricity to them. You should make good working policy with them.

Location –     In the business of solar power plant location matters a lot because our whole work depends on sunlight and sunlight depends on location.

Different places have different sunlight. The difference is the intensity of sunlight. In the picture we can see intensity depends on location. Dark red colour has more intensity than faded yellow .

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First thing is to insure that intensity of sunlight must be in good range. If intensity is very low then we can not produce that much energy.

Second thing is flat land must be there. Flat land is ideal condition for arrangement of solar panels . Now days adjustable panel are available for uneven land but we can reduce expenditure by flat land and we can get more energy by flat land.

Third thing is we need shadow free land for panel because shadow can decrease the product of panel.

Before choosing a location you should consult an expert it can reduce your extra expenditure on solar panel.

  • Licence and certification –    

 After deciding a suitable business plan find out how to become certified.It is time to start the process at the corporate level. First of all understand the process of application of licences and certificates.

You must be sufficiently qualified to obtain this licence and certificates.

The licence and certificate will include  

1. Tin number

2. Article of association

3. An article of memorandum

4. Certificate of commencement 

The article of association and the article of memorandum are the two major documents that you need to start a business.

  • Registration –   

                               Registration is the preceding step after obtaining the licence and certificate. You have to register your company in the registrar office of your state then they will check all certificate and after getting you competent in all aspects of your company will be registered.

  • Secure sound financing –   

                                                             Review all the costs required to launch and run your company. If you don’t have adequate fund then submit a loan proposal. Government are providing good loan and subsidy for solar power plants.

Financial decision are most important activity in business. Financial decision about how much to spend on each activity.

There are many activities depends on fund like land, building, machinery, marketing etc.

60% of the whole money is consumed by land because land’s prices are getting high. Land is the biggest part of this business it plays a big role in this business.

Saving money on solar cell is not right you should not compromise with quality of solar cell because this business takes a lot of time to get profit back it can take about 10 to 15 years till then it is your responsibility to keep your solar panel safe. Best quality solar panel can cost more but if they are good then they will last longer and will keep earning profit by panel.

You must hire a specialist for buying solar equipment because equipment’s utility depend on your land you have to choose the right equipment to save money

Specialist can help you to reduce expenditure on equipment.

  • Man power for company –   

                                                  Then comes an important step which is to mobilize man power for your firm because new start up require more labour and employee and competent human resource will definitely give more benefits. A hardworking team can bring success to a very big level so choose the team well.

Look for candidates who can bring a positive attitude to your business.

  • Marketing strategies –
  • Know your target customers –   Identify target customers before launching your company. Pinpointing and targeting specific groups helps establish a reliable customer base.
  • Maintain a strong online presence –   A well designed website make you reach to client more easily. Your website should incorporate mobile friendly features by this customer can connect to your site through their smartphones.
  • Additionally include a project portfolio as well as your company’s contact details.
  • Create awareness across all social media platforms –   Open different social media accounts and use them to elevate your business profile.
  • Build a solid customer base –   proper marketing can build a solid customer base. Reward clients regularly with discounts, gifts and free services. Satisfied customer will often refer more people to come to your solar panel installation business.
  • Conclusion

 Be sure to choose a unique name for your business. Maintain your solar installation equipment properly to avoid unwanted expenditures like repair or replacement costs. Ensure that all employees understand their role in the company and treat all clients with fairness and respect to keep them connected.

Long term growth and business success depends on always putting the customer first.

Related post – How to Make a Business Plan






What is a Food Truck Business? How to Develop a Food Truck Business Plan?

Food Truck Business Plan

“Food truck business” Don’t know what is a food truck business is? Or you did hear of it but don’t know how the plan goes on when it comes to

“Food Truck Business” well we are here to explain to you what is food truck business and what is the business plan you need to follow to run start and run it successfully.

What is a food truck business?

A food truck business includes a large size automobile like a van or trailer, equipped with a small modernized kitchen to cook, prepare and serve food. 

usually preferred by small owners or any famous restaurants to serve food in other localities as well. 

Some food trucks sell ice creams and desserts some sell frozen or pre packed food; others have on-board kitchens and prepare food on customer requirements. you can see food trucks usually in construction sites,near to any corporate company and busy streets, parks where people usually hang out.

The food truck business provides an option for the on-the-go person to grab a quick bite at a reasonable price. 

Nowadays the craze of fast food is rapidly increasing so as food truck businesses and also some food truck owners earn a good amount of money out of this. 

In food trucks the advantage of mobility provides owners access to multiple locations at an initial capital that’s less than that required in opening a restaurant of the other format, this is why small all restaurant owners are looking to invest in a Food Truck instead of an individual stationary restaurant. 

So if you are looking for a food servicing business but do not have enough money to invest in a restaurant business then you should go with a food truck business. 

Food truck business or a restaurant on wheels has been an on-trend concept in India and all over the world, among entrepreneurs and consumers alike.

How to develop a food truck business plan?

Now as we have understood what food truck business is. Let’s know how to do business planning for a food truck business?

It’s natural to have hesitation while starting any kind of business which is why we will help you to learn how you can create a food truck business plan here.

Table of content-

  • A right choice to select food truck and location
  • Analysis competition and Creating the brand
  • Kitchen equipment and others
  • Requirements of manpower
  • Raw materials and food hygiene
  • Creating an online presence for your food truck business
  • Marketing your food truck business
  • Conclusion

Let’s go through some points which will guide you the way to develop a business plan:

A right choice to select food truck and location:

The first thing is to select the right food truck and location where you will have to sell your food. choosing a food truck is depend on the type of food you plan to serve, you need a commercial vehicle which is at least a decent size of 18 to 20 feet of length this will cost roughly around 7 to 8 lakhs.

Hey wait !

Don’t worry if you are a little tight in the budget you can buy an old commercial vehicle with right paper works which will cost almost half of the new once also you will have extra money left for designing the vehicle according to the need.

Choosing the right location is important you should choose a street which should be near to a construction site, park, busy street also you have to analysis the food street where less number of food vendors sell the same kind of food. 

Also the location should have a regular flow of traffic to invite people to have a quick bite.

The street should have good parking space for the food truck also it shouldn’t be creating any hazel to commuters. There should be enough space for customers to have the food and enjoy it.

Analysis competition and Creating the brand:

There is good competition in the food business market so building a strong brand presence is important your brand should connect customers with a unique story.

Analyze the competitors business how they are doing in this business Everything you can dig up about your competition will be useful when you go about building your brand.

Creating a brand presence includes naming of the food truck, the logo and the theme of the food truck this will connect with customers it is important for branding It will show up on all your designs, on your food truck, on your banners and promotions and all your social media platforms.

 Make sure it speaks to your brand.

Kitchen equipment and others :

It depends on the type of food you are planning to serve still on an average you will have to invest a roughly around 2 to 2.5 lakhs which includes Microwave, refrigerators, griller, steamer, working tables, one burner, exhaust equipment, generator or big batteries with an inverter and other things that are needed in the business. 

It is good if you are going for new kitchen equipment because as it is mostly electronic items you will not be having issues of servicing it as it will be having a fixed time warranty which will cover all the necessary maintenance costs.

If you are a little tight in the budget for your food truck business you can go for old equipment which is in good condition if you can get a good deal out of it this can save you a good amount of money and also you will have some extra money for other essential items needed in your food truck.

Requirements of Manpower:

In this food truck business, you need to have a very good chef to cook food according to the type of foodservice your business is providing. you need at least 2 chefs to start with so that food can be delivered on time and customers shouldn’t have to wait for food getting ready.

In India you can get some good chefs which will cost you anywhere from 13 to 15k monthly also with a helper who can take care of the operation of your food truck business. 

If you are planning for delivery services then you can hire a person who knows well the location and he can help you to procure raw materials in needy time.

A delivery boy will easily take a salary from 10k to 12k monthly. Also if you want to create your brand presence in the food truck business you need to have a good team from cooking to delivering because in the end customer satisfaction is the main goal.

All the staff should have a unique dress code that helps in the brand presence and also will gain trust among your customers in the food truck business.

Raw materials and food hygiene:

You need to have the right amount of raw materials so that you do not need to hurry up and bring raw materials, it is advisable to stock the raw materials enough for 5 to 7 days in the preservative so that it would get damaged and make a loss in food truck owner’s pocket. 

Then comes down to hygiene of the food truck, the food truck business operates at a small space where both cooking and selling food operates. so it is necessary to maintain a clean kitchen and also good waste food management all the materials used in cooking should be of good quality so that customers will feel good and they will be coming again and again to your food truck. also, your staff should be well dressed and cleaned and maintains good sanitation.

Creating an online presence for your food truck business (website/software/social media):

Nowadays having an online presence helps the business a lot, thanks to the free internet everyone is into their laptops and mobiles. so you should also invest in creating

websites or software depending on your budget so that people can know about your food truck business and also go through the menu.

Almost every food truck business has its website/ software where they get connected to their customers anytime and anywhere, so you need your online portal should be user-friendly and easy to understand by a layman. they should feel easy to place an order. 

Investing in the software will cost more than just a website. so at first invest in the website then as per your online popularity, you can invest in software.

If you do not have enough money for the website too then you can create a social media page and start inviting customers who like street food with some offers at first this will drive your customer and if they like your food they will suggest your food truck business with their surroundings.

Marketing your food truck business:

It’s too difficult to survive or maintain your food truck business without marketing, here are some of the marketing techniques you can have to market your food business:
1. Social Media (Optimization/Marketing): After you have created a social media page for your food truck business you need to maintain the page by adding a post of latest foods you are having on the menu and be active on the social media page and keep      posting at least 5 times a week to keep your new customers stick with you and visit your food truck.


2. Placing ads in social media for your food truck business so that it will drive a good amount of customers into your business and it is not much investment. you can show ads to the one who is interested in street foods and food truck business this will surely be a good return of investment for your food truck.

3. Search Engine (Optimization/ marketing): After you create a website you can optimize it with some of the shortlisted keywords about your niche and create 

content so that you will be available on the first page of google in the optimization of the website you will have to optimize your website properly so that it will mobile friendly and customers would not have issues surfing on mobile or any other devices.

you can also place ads in the google search engine when the customer types your niche keyword it will appear in the first page of Google so that customers could find you this will create online orders and brand awareness. you can target a certain audience who will be interested in your niche market. 

This comes under digital marketing and you can hire a guy who knows this marketing and this will generate you a good amount of sales and cover-up all your investment within a few months of starting a food truck business.

Conclusion:

These are some of the steps you should take in starting of the food truck business, also you have to do a  Licenses & Permits Required For Starting a Food Truck Business

which will cost you around 50k to 80k.

In India, the investment for a food truck business will cost you around 8 to 10 lakh but the good thing is the overall operation cost is less than a small restaurant in the long run and also a normal food truck business can earn anywhere between 8k to 15k daily depending on how are you service satisfy your customers. 

Also, you can grab opportunities like any events, catering, and occasional opportunities you can have a good amount of sales in a day also you can generate branding for your

food truck business.

Food truck business is in a hot trend right now and doesn’t show any sign of slowing down. if you are planning to open a restaurant business but don’t have enough

money and time to invest in a food truck business is a good option.  




10 Business Ideas for Women at Home

10 Business ideas for women at home

Here are 10 Business ideas for women which they can start from home with the least investment in fact some businesses they can start without investment even.

By this we want to support these women who really want to do something in their life but they are not able to do because of some family problems or some other problems they cannot go outside of the home.

But after getting knowledge about these business ideas they will be able to choose something to do from home only and they will be able to earn money too and most importantly they will get happiness after becoming financially independent.

So here are those all 10 business ideas.

1. Yoga Instructor

In today’s era everyone wants to look good and wants to be fit by body so if you will become a yoga instructor then that will become very beneficial business for you.

You can become a yoga instructor after completing 1 to 3 month course from any certified center of yoga and then you can start your own yoga center from your home. 

For this you can charge a good amount and everyone would like to pay you because by this they will get a good health and good health will give them good heart and mind.

As we have been listening from years that “A healthy mind resides in a healthy body“.

2. Dance Classes

As we all know that we are living in India and India is the country of culture and festivals so we love to do dance on all occasions of our life especially in marriages. 

And everyone would like to spend money in marriages and dance is an important part of marriage, in all the ceremony of marriage we people do dance like haldi, mehandi, ladies sangeet and many more. 

So you can start dance classes at home and for this business you will not have to do any kind of investment, you need only sound system which usually we have at home. 

In this business you can earn a lot of money by having bookings of sangeet function of marriage parties, retirement parties, annual functions of schools and many more occasions. 

And you can take all classes at your home only.

3. Blogging

Blogging is one of the best business ideas by this you can elaborate your thoughts on any topic and can earn easily because it is all about your thoughts which you can deliver to people by blogging. Your thoughts can give answers to many people about their questions and they will feel better after getting answers to their questions by your blog and obviously by your thoughts. It’s quite a good job especially for women who cannot go outside their home.  Women will enjoy blogging as a business & also will have the advantages of staying at home and will be able to give proper nourishment to their kids at the same time. Blogging is one of my favorite forms of passive income. 

4 . Handmade gift items business (Crafter) 

If you are having interest in making handmade gift items then you can start a business of that first you can start by self and when you get little success in this profession then you can hire someone as an assistance of yours.

In today’s generation everyone would like to gift handmade items such as: 

Handmade cards, scrapbooks, mixed media layouts and many more things. 

And you can take classes for that you can organize workshops too.

You can canvass your work by making page on Facebook, Instagram, and many more social sites, you can sell your products by Flipkart, Amazon etc.

You can make YouTube channel to canvass your creativity and can also take online classes. There are many options to canvass your work and by this you can earn a good amount every month by living at home only.

5. Jewellery  making

This is also a very good business idea which you can start from home you can buy jewellery in bulk from wholesalers, for getting knowledge about wholesalers of jewellery you can take the help of Google and especially Youtube.

Now a days oxidized jewellery is in trend people are liking it very much so you can start this business you can buy material in bulk from Delhi, Calcutta, Mumbai, Ahmedabad these cities will be much better for this type of material.

You can make whatsapp group for selling your products on social media too.

You can sell flowers jewellery also it is also in trend in marriage functions and baby shower functions too.

In this business you have to invest little time of yours and you can earn more.

6. Cooking classes 

It is also a very good profession for ladies if you are having interest in making delicious food and you like to try new dishes then you should start cooking classes at your home and you can teach many people how to make delicious food and different types of dishes.

For this you can use your kitchen at home by this you will not have to do any other investment and you can charge a good amount for teaching.

You can make your own YouTube channel of cooking if people will like your way to teach online then they will surely subscribe your channel and by this you can earn and canvass your interest also.

7. Tiffin center

If you are having interest in making delicious food and you don’t want to start cooking classes then you can start tiffin center by this you can earn a good amount every day or month.

In today’s era many people are compelled to live outside of their cities because of their jobs and studies, so at that time they don’t have time to make food so they like to take food from any tiffin center.

And if they will like your food then they will become your regular customers and that will give you confidence.

You can sell your food online too by registering on Zomato and Swiggy apps.

It will give you a good publicity to canvass your business.

8. Boutique

It is a very nice business to people who likes to make new clothes and design new clothes, they can start a boutique from home for this they need to have sewing machine at home that usually we have at home so we can start from this only we don’t need any kind of big investment.

And if you get success in this business then you can hire some labor for sewing the clothes and then you can excel your work on big level.

You can participate in fashion weeks and you can organize exhibitions of your work that will give you a huge publicity and by this you can become a big entrepreneur.

9. Coaching Classes

If you are educated and like to give your knowledge to others and want to do something but don’t want to go outside of the home or can’t go outside of the home then this business is for you only.

You can start coaching center at your home for this first you will have to apply a flex of your classes outside of your home, by this people will notice and start enquiring and you can do mouth canvassing too. 

Now-a-days all people want to give a very good education to their kids for this they always find a good tutor for that so you can become that tutor who will give good education to their children.

By this you can earn and enhance your knowledge too.

10. YouTuber

If you are thinking that you have good thoughts about anything and you want to make people aware about that so you should start a YouTube channel for this and you should make good videos on that.

In this work you don’t need any kind of investment for this you need only one android phone with data, so you have to make videos and upload these videos on youtube and for being a good YouTuber you have to focus on your content which should be very specific and genuine which can relate to a layman.

By this you can attract many more people towards your videos and then only you will get more subscribers and watch time on your channel that will help you to enable your monetization policy of your YouTube channel.

Yes this business idea will surely take time to succeed but once you will succeed you will feel top of the world.

By this you will connect to many people and they will give you a satisfaction that you are doing something good for others.

So friends here we are completing our article on 10 business ideas for women’s at home so if you can relate yourself to any one business idea from all of these then do start what you want to do and do earn feel independent and happy from your inner Saul. 

We want to say only one thing by this article that all people wants to get money and want to do something too but they don’t start because of laziness of something else but if anyone has a little interest in something then they should give a try at least, weather they don’t have enough time but they can start by giving little time and when you will start to earn by self then we are sure you will do that on a regular basis.

And one day you will surely get a big success of your hard work, and that will happen only when you will start something.

If you are planning to start a business then please read our this post – How to make a business plan ?


What is Social Entrepreneurship – 10 Steps to Become a Social Entrepreneur

What is Social Entrepreneurship ?

Social entrepreneurship is a process , By which Innovative Initiatives are taken by the start -up , entrepreneurs , companies to solve social problems , such as poverty ,illness, illiteracy ,environmental destruction ,human rights abuses and corruption , in order to make life better for many. main objective of profit based entrepreneurs are to generate revenue and profit gain , whereas social entrepreneurs are cause driven with entrepreneurial mindset . social entrepreneurs keep long – term road map for their social goal , they practice hybrid model that uses business solutions to make an impact on the world.

How to become a social entrepreneur ?

social entrepreneurs create innovative solutions to tackle social problems .these entrepreneurs maximize social value instead of profit , they place social mission to the center of their business activities . they are so passionate about making a difference.
to succeed as a social entrepreneur , you need to have great purpose driven business idea . you need to have a clear road map for your journey .

Here are ten practical , actionable steps to become a successful social entrepreneur .

  1. Developing the skills
  2. Identify the problem and research the field
  3. Aim to run things like business
  4. Make a team for support and feedback
  5. Develop your business model
  6. Initial investment funding
  7. Brand your enterprise
  8. Use information technology
  9. Be transparent with consumers
  10. Remember your mission

1. Developing the skills

  • grabbing opportunities to develop your social intelligence : any experience you can get that build social intelligence will help you in your journey . look for those internship or fellowship programs who give you opportunity to work on ground level , on grass root level you will get to interact with people , you will get to know the real problems of people .

  • expand your creativity : social entrepreneurs have to be creative. try to find innovative ways to function charities and non profits to maximize donations and implement action .

  • gain leadership experience: leadership is the key for any position of entrepreneur . try to find opportunities where you could lead. 

2. Identify a problem & Research the field

  • start by deciding precisely who you want to serve and exactly where and how you want to serve . be clear about the problem which you would like to solve .figure out where to focus your energy , think about what is important for you , there are many issues in the world , such as poverty , pollution , that need to be addressed, you must not start solving any problem , which you read , heard somewhere, you must not have preconceived ideas , firstly you have to go on grass -root level ,you have to live that problem , try to interact with victims , those who have been facing problems.

  • for example , when social entrepreneur muhammad yunus had started lending to poor people , firstly he had lived with poor people , he had tried to find the real cause of poverty , then he realized that poor people are compelled to borrow money from ” loan sharks” , then he had founded “grameen bank ” which lend to poor people without guarantee ,without collateral.

  • so try to identify problem and after doing research on it and figure -out the cause of it.

3. Aim to run things like business

  • your business is not charity , it has to recover its full costs while achieving its social objective , when you are running a business , you think differently and work differently than when you are running a charity .you don’t have to rely on charitable donations ,foundation grants or government support to implement programs.

  • Social entrepreneur muhammad yunus says “a social business is designed and operated as a business enterprise with products ,services ,customers , markets ,expenses and revenues but with the profit -maximization principle replaced by the social -benefit principle ,the social business seeks to achieve a social objective”.

4.Make a team for support and feedback

  • you need to understand that you can not achieve your social goal alone , you must have dedicated team , look to people already in your life and career who you consider to be trusted , they may be some of the competitors and collaborates you came across when researching the field or they could be like minded souls who want to make a difference, too.


remember that your team members likely have good intentions and want to see you succeed.

5.Develop your business model

  • how your enterprise is going to make money , your business model will be the roadmap of it . you need to decide how far you want your services and products to reach . if you want to expand to make big impact , decide exactly how much money you need for your enterprise to support your mission .

  • your business model must be like that ,any profit it earns does not go to those who invest in it, your business might be defined as a non loss, non-dividend business , rather than being passed on to investors ,the surplus generated by the enterprise is reinvested in the enterprise.

6. Initial investment or funding

  • initially , to get funding is hard nut to crack , you will have to decide that you would take loan or invest your savings or get money by crowdfunding but after sometime when you would be creating more social benefits for poor people in early stage then why would investors not put their money into your enterprise ?

  • first , people will invest because of personal satisfaction they would get from philanthropy. the many billions of dollars that people around the world donate in charity ,it means they are having hunger to donate money so why they would not invest in your enterprise which is working for more and more social benefits of people.
  • second , investors in a social business get their money back , they can reinvest in the same or a different enterprise.

7. Brand your enterprise

you are running a social enterprise but branding of it is very important . profit based companies work very hard on establishing a brand to get consumers attention , so you will have to do branding and make ensure to people, how can you differentiate yourself from other charities ? what makes your cause unique ?

  • you will have to reach to people if you really want expansion of your enterprise. you will have to create emotional connections with consumers use things like videos and images.

8. Use information technology

  • there are many brilliant ,idealistic people in the world who would like to devote their time, energy and talent to finding ways of using information technology to fulfill your enterprise social objective.

  • to get funding , hiring of people , marketing of enterprise, you can find people and organizations to causes similar to yours , in many works you can take advantage of technology.

9. Be transparent with consumers

if investors know exactly where their money is going , operate from a place of honesty and transparency . this will help you gain more support .tell people all about your cause , have a section on your website highlights your belief and what you are trying to accomplish, share specific statistics and milestones .

10. Remember your mission

becoming any kind of entrepreneur can be stressful at times , you may have some bad days and there will be failures along the way , if you feel lost , remember your cause , recall why you got involved to begin with , remembering your cause will help you stay on track.