Role of CA in capacity as Virtual Entrepreneur Mentor to put your Entrepreneurship Ideas into Action

Role of Chartered Accountant (CA) in the capacity as Virtual Entrepreneur Mentor to put your Entrepreneurship Ideas into Action

 Introduction:

Success in any business is a combination of many factors and one of them is to keep learning about your business. The entrepreneur mentors have a direct impact on the growth and survival of their business. The early years of any business are therefore a crucial make-or-break period, and business mentors are vital to their success. 89% of small business owners who didn’t have a mentor wish that they did. These highlight a need in the entrepreneurial community to find and connect with qualified mentors who can deliver solid advice to help a business over those shaky first years.

A virtual Entrepreneur Mentor can act as a trusted confidante over an extended period of time with an objective to provide advice, counselling from a fresh perspective, collaborate and help you as an entrepreneur stay focused on their long-term goal of making their venture a success.

It is important for budding entrepreneurs to understand the right route to reach their destination while embarking on their entrepreneurial journey.

A virtual entrepreneur mentor due to advantages of flexibility and availability over virtual mode can create access to entrepreneur who can receive their virtual support and valuable guidance regardless of the location

This mentor can expand an entrepreneur’s viewpoint, helping you with multiple perspectives to solve problems and give them the ability and confidence to collaborate with trusted sources, ensuring you have a smooth and safe drive to your destination.

MENTORING STARTUPs

Realising the need of proper mentorship and professional assistance to MSMEs and Start-ups to get the maximum available benefits from the schemes and programmes the government has even provided mentorship facility on the startup india portal.

The prospective mentors for providing official guidance will have to create a mentor profile on the portal. As a Mentor, you have access to all registered startups across all stages on the Hub. The startups may connect with you through a connection request, post which you can provide your expert advice to the startup on its next steps. A startup is allowed to send 3 connection requests each week. This is done by simply clicking on the “connect” button on the mentor’s profile. Once you accept a connection request, the startup can reach out to you through a simple chat interface. You can know more about the Startup which has connected with you by clicking on their profile and reading up about them.

Professional opportunities as mentor for Startups: Apart from helping the nation move forward, as a mentor, you will have the opportunity to:

• Be recognised as a Startup India Mentor
• Share your wisdom and experiences
• Evolve your own thinking
• Develop a new relationship
• Deepen your skills as mentor

Process of creating mentorship profile:

• Simply click on ‘Register’ https://www.startupindia.gov.in/content/sih/en/registration.html and fill in the details as required in the registration form. An OTP will be sent to your registered email address, post submitting which your profile will get created.
• You will have an option to select your profile type. Select “Enabler” as your persona type, post which you’ll be asked to specify what type of enabler you are. Select mentor / investor in the drop down box depending on your objective.
• The profile goes under moderations for 24-48 hrs, and once our Quality assurance team has done a preliminary check on your mentor creds, your profile is made live

SKILL SET FOR VIRTUAL ENTREPRENEUR MENTOR

1. Instructing and developing skills – be a “learning broker” as you assist your mentees in finding resources such as people, books, software, websites, and other information source

2. Inspiring – do inspiring actions yourself which challenge your mentees to improve; help them observe others who are inspiring; arrange other inspirational experiences for them

3. Providing corrective feedback – use positive, non-derogatory, business-like words and tone of voice with mentees when their behaviors or products aren’t satisfactory;

4. Managing Risks – help your mentees recognize the risks involved in actions and projects, including some risks (and mistakes) you’ve experienced; make suggestions to help them avoid major mistakes (business, career, financial, personal, and other) in judgment or action;

5. Opening Door – Mentors are usually in a position to provide visibility for their mentees. This means opening the right doors that allow them to meet people and to demonstrate to different audiences what they can do.

TO BE AN ENTREPRENEUR IS TO THINK DIFFERENTLY

Life is a sum of choices. What we choose consciously or sub-consciously – we receive. Self-actualization or the need to realize one’s own maximum potential and possibilities is a desire which most people dream to achieve.

Realizing the Power of ‘YOU’ is the basis of life. What ‘YOU’ think, ‘YOU’ become. What idea ‘YOU’ conceive, turns ‘YOU’ into a success story. What ‘YOU’ believe in truthfully and blindly from the depth of your heart ultimately happens to ‘YOU’. ‘YOU’ can change your destiny by ‘YOUR’ karma. ‘YOU’ are the architect of your own future. YOUR future is in YOUR hands.

The essence of achievement in life is the acceptance of the fact that YOU cannot always determine what comes your way in life, but you need to equip yourself well enough so that you can steer yourself towards a more effective and fulfilling life – a life which takes you from Employment seeker  to Employment creator to be an Entrepreneur!!

While most people seek refuge, entrepreneurs take risks. They don’t want a job; they want to create jobs. Their goal is not just to think outside the box but to own the box. Entrepreneurs don’t follow the market; they define the market. This backward way of thinking is referred by Kevin D Johnson in his book “The Entrepreneur Mind” to as the Entrepreneur Mind.

STRATEGIES

All entrepreneurs must ask themselves three vital questions that concern their business strategy: Where are we now? Where do we want to be? How do we get there? If we don’t know the answers to these questions, we don’t have a strategy for success. Businesses with a clear and a solid strategy are prepared to win.

“Thinking Big”

Despite its popularity,“Think big” is ubiquitous and the saying has no clear meaning, especially as it relates to business. In business, “thinking big” simply means pursuing ideas that maximize the scope of your potential. Likewise, it can mean pursuing ideas that have maximum impact in the world. Despite its simple definition, thinking big is difficult to do for many reasons, but if you are aware of the obstacles you can avoid them altogether

One of the main obstacles to thinking big is the inability to outgrow our environment and this result in inability to create businesses that go beyond the confines of their reality or environment. In other words, the environment in which we operate restricts our thinking to the point that the business suffers limited growth or even death.

Many entrepreneurs lack the motivation to pursue big ideas. This mentality is prevalent among entrepreneurs who have had some level of monetary success in business that diminishes their willingness to pursue bigger ideas. The entrepreneurs remain in their comfort or have become accustomed to going for low-hanging fruit. It could also be that, these entrepreneurs could simply be overwhelmed with running their own business and don’t have the bandwidth to do anything else. For overcoming lack of motivation, entrepreneurs should find an individual or team to hold them accountable for pursing their big idea, step by step.

Several entrepreneurs lack the self-confidence to think big. They don’t see themselves running a large organization, or they are frozen by the immensity of their idea. They may ask themselves, where do I start? How will I build a team capable of pulling this of? Where will I get the start-up capital for such a huge idea? To boost your self-confidence, devise and take small steps that start you working on your idea. For example, do some basic research about your idea or write down your ideas. If you are like most people, these small wins will add up to increase your confidence and to propel you forward.

An Entrepreneur may often lack the diversity and expertise of influencers required to think and eventually to execute in a big way. To jump this hurdle, one must establish a diverse network of individuals who think big and understand what it takes to arrive at that level. Likewise, they can help you to vet and improve your idea.

STEPS TO BECOME A GOOD ENTREPRENEUR

KNOW YOU ARE ENOUGH! You need to know that you are enough. Before anything else, it is of paramount importance that you are completely empty of self-doubt, self-limiting and unhealthy negative thoughts. Our self-image in our own eyes is the most important determinant of success. If an individual himself/herself has self-doubt of his/her ability and is skeptical of achievement of goals – it is impossible that success is ever attained by him/her. Every person is able and capable and there is perfection in every creation. Accept yourself and connect totally with who you are. Be comfortable with your identity which makes you what you are. Your beliefs, your likes, your dislikes, your perceptions, your character need not be similar to others. Your identity is central to you and controls your growth, if you waver and question your identity, then the growth trajectory also falters. Do not imitate others to achieve success. Be aware of yourself and that will give you confidence to succeed as yourself.

FIRST STEP – SET A GOAL TO BECOME ENTREPRENEUR Whatever it is that you aspire for, if you are passionate about it and desire it truly – it is your goal. ‘Goal’ is serious business. Be 100% clear about the reason you have set your goal and the value your goal holds for you. When your goal is set in the correct way, automatically the personality you desire to achieve this goal will come to you. Your goal can be attained only and only when it seems real to you. If you truthfully and faithfully believe in what you desire you will most definitely attain it. Nothing can stop you; no amount of roadblocks and no failures seem like dead-ends when you are focused on your goal and nothing else.

Belief, faith, conviction are words that move mountains. It is a state of one’s mind which can lead the owner of that mind to achieve things that no one has ever achieved just by the mere presence of this small little word “Belief” – Belief in your idea, belief in your line of action, belief in the outcome, belief in yourself. Condition your mind to see that whatever comes in your way in your journey towards the attainment of your desire are not obstacles but situations which you will mold in your favor. The universe will work with you for you to achieve what you desire.

REMEMBER STEP #1 – Set a GOAL to chart a journey from seeker to creator.

SECOND STEP – ALIGN YOUR THOUGHTS WITH YOUR GOAL. The ultimate power lies in your own thoughts. The single most important factor which directly determines your position in life is your own mind. The ‘Placebo Effect’ is a proven fact that some patients’ health improves after taking what they believe is an effective drug but which is in fact only a placebo (a substance or treatment of no intended therapeutic value). Therefore a person can recover from illness just by his own mind only thinking that he is being treated.

Your achievement is a consequence of how your mind thinks. A ‘Thought’ is the Alpha and Omega of success. Buddha said ‘what you think, you become’. Accomplishment of your goal has already started when the seed was sown in your brain as a thought. To be successful, you have to first train your mind. You must master your mind and have dominance over your thought.

Imagine wealth, victory, success – and you will achieve it. You want success and the universe will serve it to you if you can control your thought process. A human mind is a reservoir of power: It can conjure up zillion thoughts. The art is in taking that one thought which you believe in, and turning it into reality.

Fill your mind with positive thoughts. Let there be no place for negativity, gossip, worry and criticism. You will destroy the beautiful seed of pure thought even before it germinates. Water your thought, nurture it and let it grow into unimaginable wealth and success. Every individual is his own person. He alone knows what motivates him and drives him to achieve. With his personal experiences and emotions he alone can work on his impulse to make it a reality. Don’t poison that beautiful ability by clouding it with negative thoughts.

The aphorism, “As a man thinketh in his heart so is he,” not only embraces the whole of a man’s being, but is so comprehensive as to reach out to every condition and circumstance of his life.

REMEMBER STEP #2 – Align your Thoughts with your goal

THIRD STEP – JUST GO FOR IT! TAKE ACTION TO ACHIEVE

Niyataṁ kuru karma tvaṁ karma jyāyohyakarmaṇaḥ|

Śarīrayātrāpi ca tenaprasiddhyedakarmaṇaḥ||8||

Sri Krishna said: Perform your prescribed duty (karma) because action (karma) is superior to inaction. Even the maintenance of your body cannot be accomplished through inaction.

Action is imperative to achieve. Action is just the simple act of doing. It is common knowledge that no idea can be turned into reality without action on the idea. Creation of an idea and the desire to turn it into reality backed by all the monetary power available will still not guarantee riches unless there is action performed towards that idea. Over- analyzing and over-thinking will kill the idea even before inception.

So, the key is to start and start now! If you want to earn your millions in your profession, have faith in yourself, just pick up a pen and paper and write down a detailed plan action schedule regarding the steps you will take to achieve your goal. Be ready to give yourself that push of ignition to just ‘begin’ like the starter in a vehicle – your initiation of action to attain your goal can be compared to the  starter in a vehicle because it is the most important device which is used to rotate an internal-combustion engine so as to initiate the engine’s operation under its own power, without which the entire vehicle, the time and money spent on its creation is a waste, and the same holds true for your ‘action’.

So, if you want to become rich, successful, reach the great heights of success you have imagined in your life – it’s not going to come to you while you just sit there at your table dreaming about it.

The more you work, struggle and do whatever it takes to reach closer to your goal, you will observe that the worst is over and somehow things are getting better and better. Remember your goal and your well defined plan to achieve your goal, just focus on it; it will give you the strength to keep moving forward. Patiently persist. Don’t lose your enthusiasm when you suffer setbacks on your road to success. They are mere stumbling blocks. Gather your determination and tenaciousness and with single-minded strength of purpose forge ahead. The harder you work, the closer your goal will seem. To reach the pinnacle of success you have to climb the small little steps on the staircase which will take you there.

REMEMBER STEP #3 – Take Action to achieve your Goal. Don’t wait for things to happen to you….Go out there and make them happen!

SKILL SETS OF ENTREPRENEUR

“A you are what you think you are”–James Allen

“If you want something you’ve never had, you must be willing to do something you’ve never done.” –  Thomas Jefferson, American Founding Father and third President of the United States

As an entrepreneur understanding what you want or what the goal that we wish to reach is determines the kind of business enterprises we will incorporate.

The concept of karma (the law of Action) is the core idea of the Bhagavad Gita, the Holy Hindu Scripture. You have to find what you are truly passionate about. If today were the last day of your life, would you want to do what you are going to do today? If the answer is ‘No’, it is certain that something is wrong and needs to be changed. For you will attract riches and fame only if you are doing something you are passionate about. Fuel the passion. Infuse enthusiasm into your work – then only you will achieve success. If you think you can – you will. If you think you can’t – you won’t.  Your ‘WILL’ can change everything. It can pull you out from the depths of misery. It can give you hope. It can make you millions. It can change your fortunes and your future. The ‘will’ comes from ‘within’. You are unstoppable once you have willed it.

“Whatever course you decide upon, there is always someone to tell you that you are wrong. There are always difficulties arising which tempt you to believe that your critics are right. To map out a course of action and follow it to an end requires courage.”– Ralph Waldo Emerson, American essayist, lecturer, and poet

Bhagvat Geeta describes the qualities of an individual that help him attain his goal. It says for a entrepreneur to attain his goal he should possess fearlessness, purity of mind, steadfastness in spiritual knowledge, charity, control of the senses, performance of sacrifice, study of the sacred books, austerity, and straightforwardness; non-violence, truthfulness, absence of anger, renunciation, peacefulness, restraint from fault-finding, compassion toward all living beings, absence of covetousness, gentleness, modesty, and lack of fickleness; vigor, forgiveness, fortitude, cleanliness, bearing enmity toward none, and absence of vanity.

What differentiates a person who is goal-oriented versus a person who has no goal set for himself is that the first one is determined to achieve it no matter what.

Here are some of the skills you need as an entrepreneur

Interpersonal skills and Customer Interaction.

Almost every business requires you to interact with customers, vendors, debtors, creditors, and other stakeholders on a daily basis. Your one-to-one interaction is important as the people judge the integrity, longevity, and prosperity of the business based on their interaction with the people behind the company. So even the most innovative and productive idea may fall flat if the face behind the company is not dependable. The ability to communicate or interact well with other people (whether it is peers, subordinates or your team) is what is known as interpersonal skills. They may include a variety of activities like – Communication, Listening, body language, ability to collaborate, display of work ethics and workplace etiquette, display of personal etiquette, commitment capacity, professionalism, problem solving capability, decision making ability, self-confidence, receptiveness to feedback, showing appreciation, positive attitude and overall vibrant demeanour. Improving interpersonal skills will keep you in the good memory of people and attract people to do business with you.

Your AIDA – Awareness, Interest, Desire, and Action –Model

It is a fallacy that destiny will play a part in getting customers to your doorstep and taking your business to great heights while you sit nestled in your cocoon waiting for them to approach you. Action is imperative.

In 1898, E. St. Elmo Lewis, American advertising and sales pioneer, developed a model which mapped a theoretical customer journey from the moment a brand or product attracted consumer attention to the point of action or purchase. According to this concept, every sale has four parts. These four parts are referred to as AIDA – an acronym which stands for Awareness, Interest, Desire, and Action. The Awareness stage stands for making the customer aware of the existence of a product or service; The Interest stage represents generating genuine customer interest in your product or service; The Desire stage involves getting the customer to make a decision; The Action stage is getting the customer to take the next step towards purchasing the chosen product or service.

Get your AIDA model in order and analyze how you will take your customer from ‘awareness’ to ‘action’. By breaking down your way of dealing with the customer into these four basic parts, you will be able to identify areas where you need to put in more conviction and effort to increase your business growth.

Customer Profitability

The meaning of ‘customer profitability analysis’ is simply analyzing whether a customer is profitable for your business or not. It seems highly inappropriate to suggest that a ‘customer’ could be a deterrent for business growth.  However, the idea behind ‘customer profitability analysis’ is to determine whether it costs more to do business with certain clients than what they bring in. It is a method of looking at the various activities and expenses incurred in servicing a particular customer within a given period of time while determining its profitability to the business.

The rationale for doing a customer profitability analysis lies in the fact that once you are able to measure the customer profitability, you will be able to consciously manage it too. There are many ways to assess your customer’s value to your business viz. sales volume, gross margin, profitability, number of transactions, and average sale per transaction etc. You can then use this information to identify high value customers for your business who value and will pay for your company’s products and services and in turn focus your resources and energies on highlighting opportunities with respect to them. This will improve your productivity and result in business growth.

How you manage your Time

Much has been written and said about the importance of managing ‘time’, but somehow everyone is always short of it. So, are you doing it right?

If the Egyptians had known when they invented the 24-hour day that the future generations will use it as an excuse for not getting things done in time, I’m sure they would have added a couple of hours more to the day. However, we would have found excuses of shortage of time in that scenario as well! Without realizing we have mastered the art of ‘blaming time’ as a culprit for everything that goes wrong in our life. Now approach the 24-hour day with the attitude that you have 86400 seconds in a day! Now that’s a lot of time.

The reason a 24-hour day seems short is because when we prioritize our jobs, we take it as an excuse for never completing the ones on low priority. We all have things we don’t want to do, but we have to do them anyway. However, in life you cannot chose the enjoyable parts and leave out the unpleasant parts of a task. You have to do the entire job. That’s the only way to reach your goal. The sense of accomplishment you will feel at the end of the most hard, boring and complicated task is immeasurable. There is a methodological way of increasing the hours in the day. For having more than 24 hours a day, improve your time management skills. Prioritizing is essential but it will not create more time; it will only tell you what is more valuable to be done first. We must prioritize but at the same time must realize that those tasks on low priority or also essential for business growth and we must eventually get down to them.

B The Pareto principle (also known as the 80/20 rule, the law of the vital few, or the principle of factor sparsity) states that 80% of consequences come from 20% of the causes. Vilfredo Pareto an Italian economist and sociologist used this principle to establish the relationship between the inputs and outputs. The principle can be applied to various economic factors like land and illustrates the notion that majority of the things are controlled by the minority of the people.

The Pareto Principle can be applied in a wide range of areas such as manufacturing, management, and human resources.  The most important application of the Pareto principle has been used in personal time management. Time management has been a challenge to most of people. In order to effectively utilize the time, one needs to identify the “repeated patterns” in your daily schedule that may be causing problems to your productivity.

The Pareto principle states that most people tend to thinly spread out their time instead of focusing on the most important tasks. In terms of personal time management, 80% of your work-related output could come from only 20% of your time at work.

C: Parkinson’s law is an adage that “Work expands so as to fill the time available for its completion”. The law was given by Cyril Northcote Parkinson who was a British naval historian and an author in an essay published in The Economist in the year 1955. The law applies to any work; however, Parkinson used this to describe the bureaucracy in an organization.

The application of this law can be seen in every sphere right from the way we spend our time on personal tasks to the way how we spend our time in the organization. For someone who has a lot of time at their disposal and has very few tasks to accomplish, they can expand their work to fill the available time. Whereas for someone who has many tasks to be achieved in the lesser available time, the work shall be done in a quick manner is shrinking the time available.

One of the essentials of any goal we set, we have to have a clear definition of the timeline we wish to complete the task. If we say we wish to complete the book in a year’s time, we will expand our work of writing the book over a period of one year. Whether the actual time required for completing the book is one year, is something that each one has to decide. My experience tells me that, the longer one takes to complete, the enthusiasm gets diluted. The focus shifts and the idea die down.

HOW TO SELL?

This is perhaps the greatest quality that an entrepreneur has to learn.

How to sell? Is currently one of the major questions that bring to our minds, people often ask the same question, they ask it goggle, in person, to their mentors, and literally every other person. The purpose is everybody & each one of us wants to understand how to sale, how to prepare that perfect pitch which can get the results.

Things to remember: Sale is not a PowerPoint Presentation which you can prepare in person then pitch it to somebody and expect magical results to happen! Surprisingly sale is just a three-way process, it just involves Three Questions.

The question which you need to ask your client:

1. Where they are today? / What is their current standard?

2. Where do they want to reach? / What is their goal?

3. What is that one thing which is stopping them to reach that goal? / this means why they are not able to reach to that point today?

If you can understand that problem and then provide the solution which you have which can either make them achieve their goals faster or in an easier way or in a better way, then magically the sales will happen.

These are the core question which sums up the logical aim of selling, you will not be needing any fancy presentation or fancy salesperson.

The thing to remember: Find the pain point of your client and the sale is done

COMMUNICATION SKILLS WHICH ARE CRUCIAL FOR SALES SUCCESS

The root of sales success is the ability to gather and provide information in a way that makes your prospect want to do business with you. Your value proposition, your pricing, even your product’s features — none of that matter unless you’re able to get your prospects to talk to you and also listen to what you have to say.

1. Pay full attention.

We’re all busier than ever before, and selling can be an especially pressure-filled career. So it’s understandable that during a client meeting, your mind could wander over to the demo you have to prepare for this afternoon, the prospecting you forgot to do, or the contract you’re waiting on to come in.

You have to dedicate 100% of your attention to each call; otherwise, you’ll miss details and make your prospect repeat things they’ve already told you. It’ll be obvious when you’re not paying attention, and that’s no way to treat buyers.

2. Practice active listening.

Not only do you have to listen, but you also have to listen actively, otherwise your conversation won’t really go anywhere.

3. Read body language and control your own.

The same sentence said by someone who’s smiling, looking directly into your eyes, and sitting up straight is received very differently when the speaker is looking away and slouching — even if they meant the same thing both times.

That’s because while we can say pretty much anything we want, our body language often reveals our true intentions or meaning. Great communicators know how to read others’ body language so they can anticipate the direction a conversation’s heading, and also make sure their own body language isn’t sending out signals they don’t mean to broadcast.

4. Master the nuances of voice tone.

Like body language, voice tone — your voice pitch, volume, speed, and even your word choice — affects how the words you’re actually saying are interpreted. And if you’re in inside sales, the only thing you have to make an impression is your voice.

5. Be empathetic

You don’t necessarily have to agree with everything your prospect is saying, but you should always at least try to see things from their point of view. And that means more than just saying, “Hmm, I see where you’re coming from.”

When you can draw on your knowledge of your prospects’ actual day-to-day, you’re better equipped to understand what they care about, which makes it more likely you’ll be able to help them.

6. Understand what’s not being said.

Prospects sometimes don’t tell the whole truth. And that’s okay, as long as you know how to spot when it’s happening. Is your prospect just evaluating your company because his boss told him to present three options? Is your prospect sold, but her manager, the economic buyer, isn’t? These are crucial things to know, and you can’t suss them out until you learn to read between the lines.

7. Speak in specifics.

Great communicators are not persuasive because they speak in dramatic, sweeping rhetoric. They’re able to convince people because they can point to specific examples or anecdotes that support the point they’re trying to make — and in the case of salespeople, because they can demonstrate exactly how a product or feature will help their buyer.

Be as specific as you can. And if you can throw in a catchy sound bite or two, by all means, do it. Just don’t rely on quippy phrases to get a deal to the finish line.

8. Be a subject matter expert.

Of course, you can’t be specific if you don’t have any idea what you’re talking about. If you sell to a specific industry, you should know those industries’ concerns, behaviors, and buying patterns down pat. If you sell to multiple industries, know your value prop as it relates to each cold and use customer references as a backup.

Prospects will never trust you if it doesn’t seem like you really understand your (or their) business, so become an expert in your relevant field.

9. Know what you don’t know.

But being an expert doesn’t mean you know everything. Unless you’ve shadowed your buyer, you don’t know exactly what they do or every nuance of their business. So don’t act as you do. You should know enough to sketch out the outlines of their situation on your own, but you’ll always have to rely on your prospects to fill in the little details.

Be aware of the gaps in your knowledge, then ask your prospect to help fill them in. They’ll appreciate your honesty about what you don’t know, and you’ll avoid losing deals because of false assumptions.

10. Be genuinely curious

The key to sales is asking good questions. And if you’re not actually curious about your prospect’s situation, it’ll be all too easy to slip into your elevator pitch before you’ve established whether any part of it is relevant to your buyer. Great communicators are naturally curious about their conversational counterparts, and that’s especially crucial in sales — ask questions first, then answer them later.

11. Assume good intent

Sometimes, prospects leave out important deals that can change the trajectory of a deal. Sometimes, they make a commitment before they’ve gotten approval from the necessary stakeholders. Sometimes, they lie on purpose.

All of the above situations are frustrating — and some are certainly cause for annoyance. But it’s often difficult to distinguish between situations where a buyer misled you on purpose and one where they made a genuine error. Jumping to conclusions about your prospect’s intent will color the rest of your interactions in a negative light. Always assume good intent so you’re not subconsciously treating your prospects with hostility.

12. Always be honest.

Just because you’re assuming good intent doesn’t mean your prospect will, so always be upfront about the questions you can answer, the questions you can’t, and the questions with answers your prospect might not necessarily like.

Your prospects won’t be forthright about their goals and areas for improvement unless they trust you. That means always being upfront when you don’t know something so they believe what you’re saying when you do know the answer.

13. Be persistent, not pestering.

There’s a fine line between persistence and pestering, and it’s crucial for salespeople to understand it. Continuing to call and email your prospect without knowing why they’re not responding is counterproductive and can only serve to annoy and alienate them.

If you haven’t received a response to a follow-up message, try a different approach. Instead of forwarding the same email to your prospect, start fresh with a new headline and an easier call to action. Once you re-engage them, steer the conversation back to business.

REMEMBER AN ENTREPRENEUR IS NOT BORN, BUT HE IS DEVELOPED FROM DIFFERENT VOCATIONS.

An entrepreneur is influenced not by a single factor but is the result of the interaction of many such as further.

1. Family background

2. Socio-economic change.

3. Standard of education and technical knowledge.

4. Financial stability.

5. Political stability.

6. Government policy.

7. Caste and religious affiliation.

8. Availability of supporting facilities.

9. Achievements (aims and objectives)

10. Personality and personal skill.

An Entrepreneur has to initiate the process of development crossing all the barriers in his way. A successful entrepreneur must possess the following qualities:

• He should be a motivator.
• He must possess self-confidence.
• He must be committed to the project
• He must be prepared to work for longer hours
• He must be a problem solver.
• He must have initiative, accepting personal responsibility for actions andabove all make good use of resources.
• He must be a goal setter.
• He must be a moderate risk taker

Advantage of having chartered accountants in every step of your business:

1. Secure with finance: handling finance of your business is the best role that the CAs can play. Ensure that the money of your business are safe to hand

2. Professional expertise: The regulatory compliance knowledge and technical know-how make the CAs more suitable for the role of overseeing business affairs.

3. Advisory: They can assist in terms of advisory to business in decisions like structuring, investments, funding, campaigning, marketing, promoting, enhancing economic operations etc.

4. Time-saving: since a lot of responsibilities will be on this professional you may get enough time saving and could concentrate on core business operations and strategies.

5. Helps in widening the business: CAs can bring in knowledge such opportunities in terms of widening the reach of your business, exploring new strategies, at the same time reducing the risk by keeping your organization statutory compliant, building capacity etc.