How the Entrepreneur Can Make the Right Choice

What is missing to get your dream off the ground: money? Time and mood? Or is it just the absence of good planning? Whatever the reason that empowers your goals, it's time to move so that the idea takes shape. But how to choose businesses to invest in with so many options at your disposal?

 

The first step is to analyze your goals when entering the world of entrepreneurship. The categories are, in fact, many - it is possible to set up a business from scratch, invest in a company that is already in operation, set up a micro franchise, or even open a large franchise unit.

 

To help you choose the ideal model and not make a mistake in planning, we have put together the best tips in this post. Follow us!

 

A good time for entrepreneurship in India

 

The moment seems propitious. According to the most recent Global Entrepreneurship Monitor (GEM) survey, more than 9 million people are related to some entrepreneurial activity. It is estimated that these investors represent almost 32% of the population between 18 and 64 years old.

 

Among those who started their ventures in the last three and a half years, approximately 64% accessed the market on an opportunity basis. They are entrepreneurs who saw a niche with an openness to receive them, chose their businesses to invest and opted for a more autonomous life.

 

There are also those who enter entrepreneurship out of necessity. In this case, the investor has an impulse to open his own business, which is usually linked to the loss of financial stability, to the termination of a company, or to a lowering of wages. This sudden change forces the professional to seek a new area of ​​expertise and many end up starting their own business.

 

The financial recession has caused several companies to wipe their accounts through layoffs. The outflow of these dismissed employees directs many of them towards entrepreneurship.

 

In this scenario, there are two nuances that deserve to be revisited: first, the need to undertake can lead unprepared investors to the market; however, in the second place, this movement rekindles the market and increases competitiveness.

 

Planning makes all the difference when it comes to differentiating those businesses that have a chance of success from those that are bound to disappear after a few years of activity. The group is further subdivided into nascent entrepreneurs, who are starting or have a company with less than three months, and new entrepreneurs, who have been operating for a period of three months to three years.

 

According to the research mentioned above, the estimated number of springs is one million, while the new ones are 4 million. The index is expressive and indicates that, despite the economic crisis that affects the country, opportunities are open for entrepreneurs.

 

Business to invest: making the right choice

 

At the beginning of the venture, when the idea is still on paper, some strategic choices can lead you to success or failure. Choosing niche markets that are in decline or giving up planning, for example, are risky attitudes that can lead the company to bankruptcy.

 

How to make the right choice in the face of so many businesses to invest? We elaborate step by step to help the future entrepreneur to make the best decision. Check out!

 

Choose a market you like

 

This first step may seem, but, in fact, it is essential for the entrepreneur to work with commitment and pleasure on a daily basis. Be sure to pay attention to this golden tip for those who want to set up their own business.

 

Choosing one among so many businesses to become an entrepreneur, in a context of growing competitiveness, is not an easy task. Especially at the beginning of the venture, you are likely to have a lot of work to do and little reward. With the difficulties appearing, the ideal to get around them is to work with what you love.

 

Read also: Are you looking for Auditors in UAE

 

It is common to hear that we should choose an area in which we would even work for free - and this rule applies to entrepreneurs. Many of those who set up their own business go months or years without being able to withdraw wages or wages. Facing these adversities is easier if the work motivates the investor.

 

Select the activities that give you pleasure. How do you like to spend your free time? What could you work on for hours without losing focus? Answering these questions helps you select the area to follow. Most hobby activities can become a profitable investment!

 

Evaluate the market

 

Working with what we love is a motivator. Doing what we like cooperates to maintain focus during the daily routine, in addition to working more willingly. However, it is clear that the market's reception must be minimally warm for the idea to work.

 

Once your favorite hobbies are selected and the activities that give you pleasure are thought out, it's time to study the conditions of the niche. Does the sector allow growth? Are there consumers for this industry? Is the market not saturated? Have the answer to these questions at your fingertips.

 

If your main idea is not in a good moment and the profitability promises to below, it may be better to skip to the second option.

 

Value your skills

 

Have you been unable to think of any hobbies or do you think your favorite hobbies will not make you money? So, how about selecting your skills and aptitudes? Believe me: we all have positive aspects and we are good at certain tasks, even if we don't know it.

 

With the internet, it is even easier to acquire knowledge and develop your skills. A good solution may be to put together a list of the things you do best and with the most dedication. List any activity in which you always receive praise. Then, evaluating this list, see in which areas you would have enough knowledge and pleasure to open a business.

 

Count on your experience

 

To be successful, your enterprise does not necessarily have to be revolutionary and unprecedented. Of course, innovations tend to grow faster and gain space in the hearts of customers. However, even if it is not great in this aspect, your idea can generate good results if you have experience in the field.

 

For this reason, most entrepreneurs usually choose businesses to invest in the same area in which they were once employees. It is a good way to bring together know-how, skill, and experience - the three essential elements for setting up a sustainable and profitable enterprise.

 

Draw the business plan

 

The business plan is essential for those who decide to undertake. The process, which may seem complicated at first, becomes simpler when the investor goes after quality information, reads about it, and counts on the help of technology to make its records.

 

Making a plan means making it clear where your company wants to go and what path will be chosen to achieve your goals. Financial management enters this stage when the manager must objectively calculate the amount that will be allocated to each sector.

 

See how easy it can be to choose between the various businesses to invest in? The essential thing is to combine your knowledge with the activities that give you pleasure. Now that you know that, how about continuing to learn? Be sure to read our post on how to do good market research

What business to put? (12 ways to find a business idea)

 One of the main challenges that every entrepreneur faces is determining what business to put in.

If, like many other entrepreneurs, you find yourself in the situation of wanting to start your own business, but you don't know what business to start, in this article we present 12 ways to find a business idea that will help you find the right business for you.

1. Identify your passion

Identify what you are passionate about, what you really like to do, what you would do if you had all the money in the world and you would no longer need to work, what you would dedicate yourself to even without anyone paying you for it; And then think of a business where you do it, or is related to it.

For example, if you are passionate about pets, your business idea could be a pet spa, pet daycare, or pet accessories store; Or if you are passionate about cars, it could be a car repair shop, auto parts store, or a business dedicated to buying and selling cars.

2. Identify your talents

Identify where you stand out or stand out from others, what you do or where you perform better than anyone else, where you are the best; And then think of a business where you dedicate yourself to doing it, or where you can profit from it.

For example, if you have a good taste for fashion and good dress, you could open a fashion design school, a tailoring workshop, or a clothing store; or if you prepare tasty hamburgers, you could set up a restaurant where you sell them.

3. Identify your advantages

Identify where you have an advantage over other people or companies in terms of abilities, skills, knowledge, experiences and/or resources; and then think of a business where you can take advantage of it.

For example, if you have knowledge that few have about the production of a certain product, you could take advantage of this advantage by creating a business dedicated to the production and sale of that product.

4. Identify your knowledge and experience

Identify what you know or know how to do very well, what you master, what you could consider yourself an expert in; And then think of a business where you dedicate yourself to doing it, or where you can profit from it.

For example, if you have worked for several years in a company, you could start a business in a similar field, or where you do the same as you did in it; Or if you have worked for several years in the sales area, you could start a sales school, provide sales advice, or write and sell books on sales.

5. Identify a need or want

Identify a need or desire in people, and then think of a business, product or service that is responsible for satisfying that need or desire.

For example, if you have identified people's need to walk their dogs, you could start a dog walking business; Or if you've identified people's desire to travel with their pets, you could start a business dedicated to traveling with pets.

6. Create a new need or desire

Think of a product or service that other people or companies do not offer, and that due to its originality, novelty and innovation could be well received by consumers and, therefore, create a new need or desire in them.

For example, a product capable of performing a function that other similar products do not perform, or a service that can be provided through an application for smartphones that does not exist on the market.

7. Identify a problem

Identify a problem that people or companies in your area have, and then think of a business, product or service that is responsible for solving that problem.

For example, if you have identified the problem of the lack of security in the people of your locality, you could open a personal defense school, or set up a business dedicated to the sale and installation of iron bars.

8. Identify a product that you could do differently or better

Identify a product or service that other people or companies already offer, but that you could add something to it that allows you to differentiate or distinguish yourself from them, or do it much better.

For example, a product that someone already makes, but that you could make with higher quality supplies or with a more attractive design; or a service that someone already provides, but that you could provide more quickly and efficiently, and also at a lower price.

9. Research the market

Whether visiting commercial areas, doing small surveys or interviews with family, friends, acquaintances, or anyone else, or analyzing statistics or market reports on the Internet, try to identify:

• Products or services with the highest demand, but for which there is not much supply or competition yet (demand is not being satisfied).
• The products or services most sought after or requested by consumers, or that they always look for, but never find.
• The products or services that people would like to exist, and that no one has ever thought of creating.
• The businesses that people would put up if they had the time and resources.
• Businesses that could be successful today, or that could be successful in the near future.
• The most profitable businesses today, or that will be the most profitable in the near future.

4 Advantages of Hiring a Specialized Company to Carry out Your Waste Management Plan

Waste management is a current and still controversial issue, as not all companies are concerned as they should be with the destination of the waste they produce. The government invests in initiatives that encourage the correct management of waste and, at the same time, imposes strict penalties for those who fail to comply with environmental legislation.

The issue has become so relevant that some companies specialize exclusively in activities related to proper waste management. In this way, waste generating companies have more reliable and safer support to take care of the waste, especially if it is dangerous.

Want to know more? Check out, below, 4 advantages of hiring a specialized company for an effective waste management plan!

1. The specialized company understands the environmental legislation

One of the first advantages is that the company, being specialized in waste management, knows all the details about environmental legislation that is, it knows what should and should not be done, what is mandatory and for whom it is mandatory and penalties for violations.

The Environmental Crimes Law (Act, 1974 and the Air Act, 1981) is also very relevant, as it defines what an environmental crime is and what are the criminal and administrative sanctions for those who fail to comply with the determinations. But there are other laws, rules, and regulations, ordinances that address the issue and can help to better manage the waste generated by a company/industry.

2. Professionals are specialized and know how to handle waste

Another advantage is that the company specializing in waste management has qualified professionals who know how to safely handle different types of waste.

This is fundamental because there are very dangerous residues, which can cause damage to the health of professionals and also to third parties, as well as to the environment if they are not handled correctly.

The company can respond in labor lawsuits and also for civil liability, in addition to environmental crime, should any problem occur during the handling of waste. It is necessary that all people who come into contact with the waste be qualified and trained to carry out the handling and management, especially if they are of a chemical or health service nature.

3. Does the company have the proper infrastructure for waste management?

Another advantage is that the company specialized in waste management gathers the necessary infrastructure to carry out the required processes. By carrying out the work in its own facilities, it is possible to reduce costs for the contracting company. It even reduces the need to make several outsourced hires.

With a good infrastructure, due to individual and collective protection equipment (PPE and EPCs), treatment equipment (incinerator, autoclave, and others), it is possible to guarantee better efficiency and safety of the processes.

4. The specialized company performs the global waste management

 

Finally, we can end by remembering that the specialized company can also carry out complete waste management. She can limit herself to consulting or manage all the work, which includes:

• Packaging;
• Internal collection;
• Segregation;
• Waste storage;
• Marketing of recyclables;
• Environmental audit;
• Waste shipment;
• Waste transportation;
• Treatment and final destination.

In addition, there is the possibility of carrying out the training and qualification of the employees of the contracting company, minimizing the risks with accidents, and contributing to the awareness of the team.

Hiring a specialized company for waste management is the most economical and safest way to guarantee legal compliance and reduce costs, as well as achieving improvement in sustainability rates.

What did you think of our post? Do you want to go deeper into the knowledge about the Solid Waste Policy? See how to make a waste management plan!

Liquid Waste Treatment: Why you’re Grease Trap Should Be Maintained

When liquid waste leaves your business, it enters the grease trap, unless you have a special permit not to have one in your business. Once the liquid residue is inside the concrete or plastic trap, the water will settle. This will allow gravel and mud to sink to the bottom while oil and gr

If you have a restaurant, you likely have a grease trap in your premises that need to be cleaned regularly.

Because commercial kitchens in restaurants and shopping centers generate large volumes of liquid food waste, there are a few reasons why it is important that the grease trap works correctly all the time. That's why it's essential to schedule regular cleanings to keep it working well.

   1.   Void obstructions

All food processing facilities generate large volumes of thick liquid waste that has the potential to cause profound plumbing problems if not handled carefully. Even if you only have a small grease trap, it is still important that it be pumped frequently.

If you don't empty your grease trap on a regular basis, it can cause odors, which can obviously affect the operation of restaurants and food vendors. It can also cause serious plumbing problems and blockages.

Regular maintenance and pumping can prevent grease trap systems from putting your business at risk of flooding. Plus, it can save you thousands of dollars or even protect you from losing your business.

Clogs also cause spills in sewer systems, which not only cause great damage to pipes, but your business can be at risk of polluting rivers.

Regular maintenance can ensure that the grease trap works as it should and that you do not violate the legal requirements for running a business in a safe and hygienic manner.

    2.    Comply with the rules

All restaurants and food processing businesses in Peru are required to comply with the regulations of Law No. 27314, General Law of Solid Waste.

Business owners have a responsibility to comply with these obligations to ensure that they do not endanger themselves or endanger the health of workers, customers and people in the community, or cause environmental contamination.

Part of meeting these standards involves servicing the grease traps every three months.

Read also: The importance of proper waste management during covid-19

There are different regulations for each location regarding the type of grease trap appropriate for the business and how often it should be maintained.

Knowing what your responsibilities are is important, but if you are not an expert it can be challenging.

The best way to ensure that you meet the deadlines for your premises is to hire a professional company specialized in liquid waste management, to maintain the grease traps in accordance with industrial protocols.

In this way, you will always know that it is done properly and you will have the guarantee that you will pass the inspections when the health inspectors review your business to make sure it is operating safely.

3.     3.    Frequent maintenance

The frequency of maintenance will depend on the type and size of the business system, but most traps should be pumped, cleaned, and maintained about every three months.

A complete service involves collecting and disposing of grease trap debris, scraping and cleaning the baffles to remove debris that can cause clogging, and deodorizing the system to prevent odors.

However, in order to comply with environmental and health regulations, waste must be transported in an approved vehicle to an appropriate facility. Additionally, the grease trap must be inspected and maintenance must be properly documented. Therefore, it is always best to go to an experienced and professional liquid waste management company.

What Is The Difference Between Recycling and Waste Disposal

Although often used synonymously, recycling and disposal are two completely different concepts, indicating a totally opposite approach to Solid waste management.

Both terms concern the treatment of waste, but the objective of the two different operations goes in opposite directions: the purpose of the recycling operations has the objective of enhancing the waste materials produced by human activity, and therefore introducing the rejection in a circular economy cycle . On the contrary, disposal is not intended to somehow recover the waste, but to cause the least possible damage to the environment.

In fact, recycling consists of a series of operations that serve to obtain material from waste that is useful for producing consumer goods or functional to industrial activity : for example, from the recycling of paper and cardboard, new paper can be obtained that can be used newspapers, for packaging, from plastic fibers it is possible to obtain yarns for the textile industry, such as fleece and even bicycle frames from aluminum, but the list goes on and on.

The recycling cycle allows to considerably reduce the amount of waste that ends up in landfills with an important benefit for the environment, but the advantages of this approach to waste are not limited to the protection of nature, but also affect the economic sphere. : obtaining material that can be used in industry, reducing the dependence on purchasing raw materials from abroad.

The essential prerequisite for recycling is the differentiation of waste , which makes it possible to obtain the material useful for the process.

On the opposite side of the range of possibilities for waste treatment we find disposal, which takes place for those waste that cannot produce any useful material and consists in the treatment of the material to ensure that it causes the least possible damage to the environment.

It is clear from the outset how disposal can be considered a "patch", since while recycling can obtain an advantage for the environment and the economy, no advantage is obtained from waste disposal, other than that of avoiding an even more serious damage to the environment than the production of waste itself already does.

In fact, all methods of disposal involve environmental damage that can vary according to the type of material to be disposed of and the technology used.

Industrial waste, leather goods by-products, eternity, nuclear waste or other products harmful to human health as well as cannot be recycled in any way, require even more meticulous and complex treatment in order to be degraded and "neutralized" , but the environmental damage cannot be totally eliminated, but only reduced to a minimum.

The most common disposal methods for non-hazardous solid urban waste

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 consist in landfills, places where solid urban waste and all other waste (including wet) deriving from human activities are deposited / stored and left to rot in an unselected and permanent way. and in incinerators, plants used for the disposal of waste through a high temperature combustion process.

However, both systems cause side effects that can range from the occupation of space useful for the community, from the risk of pollution of groundwater for landfills to the production of CO2, dioxins and gases that are harmful to health in the case of incinerators.

It is for this reason that the separate collection and recycling of waste, which is the purpose of differentiation, represent the only way to avoid serious and permanent damage to the environment and even make what is considered waste material a resource for the community.

Start up: how much do you need to patent an idea?

 If a company is solid it means that it has built its foundation on good intuition. When we talk about start-ups, however, how much do we need to patent an idea?

Start-ups are activities that are explicitly requested to stand out for innovation. Therefore, we have reason to fear that the idea behind our business may be stolen from us. In fact, we can say that today an idea counts more than a product with an entrepreneurial history already underway and investors are very easily interested in it.

The question is therefore legitimate: can we patent our start-up today let's try to shed some light on the subject.

What is the patent?

Few people really know what a patent is, or at least what are the dynamics moved by its ancient regulations. The patent is a certificate that allows the owner of an idea to become its legitimate father. In practice, however, paternity remains inapplicable on the idea and therefore is extended to the process that allows the intuition to become something concrete. Ultimately, therefore, the patent allows the inventor of a product or service to claim the rights.

Why patent a startup?

The start-up is not only the result of an idea (if so we would all be successful entrepreneurs), but of sacrifice, ingenuity, skills and above all investments. At the base of an activity that finds a way to see the light there are investments or loans that need to be restored. For this reason, it is legitimate to want to protect the fruit of so much sweat from the competition. If the intentions are reasonable, however, they cannot always lead us to certain solutions: in this case, for example, we must consider that only some things can be patentable.

What can be patented and what cannot

As we have said, contrary to what many believe, it is not possible to patent registration an idea but rather the process that leads it to become a product in all respects. What does this mean? Let's say it comes to mind to create a cake with green tea and rose petals. However creative, intuition alone will not be patentable. To obtain the patent can be the cake or the procedure to obtain it from nothing, then the recipe.

There is another requirement, however, to be respected: only what can have real applicability in the industrial world is patentable. Scientific discoveries, for example, are out of the competition but the procedure for deriving a given system is not. In the case of a start-up, you can therefore patent your product but not the idea from which it was derived.

 

How to Become a Qualified Financial Advisor in India - Market Analyst

The career of investment advisors comes in great demand. They are the professionals who provide exclusive assistance to customers when the main area of interest is related to financial matters. Regardless of whether it comes with retirement plans, insurance options, and investment strategies, investment advisors are there to solve any kind of problem-related to monetary issues. If you are from India and are planning to pursue your career as an investment adviser, you must obtain an appropriate registration certificate that will facilitate you to work as an investment adviser.

Request the registration certificate

The first and most important thing you need to get certified is to pass the exam of NISM or National Institute of Securities Market, or 'NISM Series VA: Certification exam of Mutual Fund Distributors', in case of passing the exam, you will get a certification from NISM. According to recent regulations, volunteer candidates must apply for registration under the SEBI (Investment Advisers) regulation, 2013 . Candidates must correctly complete the form and send it together with the required documents. It is worth mentioning in this context, if the application is for a single entity, it requires sending a photo while the organization does not require any photos.

How to apply?

In most cases, applicants will get SEBI's response with four weeks. However, the time of registration may vary based on how efficiently candidates are able to meet the criteria. Before applying for the registration certificate, it is highly recommended that you go through the eligibility criteria for registration. Together with Form A, applicants must pay Rs. 5000 as the registration fees. This amount must be drawn up in favor of "The Securities and Exchange Board of India", which is payable in Mumbai. In addition to this, applicants must also apply online following the strict SEBI guidelines which is updated regularly.

Eligibility criteria

• -If the applicant is a bank or bank, the RBI should be authorized to operate as an AI and the application must be submitted through a division or affiliate or separately identifiable entity.
• -If an applicant is a legal person, other than a Bank or NBFC registration, the application must be submitted through a separately identifiable department or division.
• -Where an entity incorporated outside India proposes to undertake AI services, the application should be made by the branch in India of that foreign entity.
• -If a foreign national intends to carry out AI services, the applicant should establish an office in India and perform AI services through that office.

After receiving the registration certificate

After considering all aspects of the applications, SEBI will grant a registration certificate to the candidates. After receiving the approval of the Securities and Exchange Board of India, applicants must pay a registration fee through the bank project in favor of "The Securities and Exchange Board of India". If the applicant is a business the amount of the registration fee is Rs. 1, 00.000, while the entry fee for an individual is Rs. 10,000.

Related Post: How to create a financial company

Verdict

After receiving the registration certificate from SEBI, candidates can work as an investment advisor. However, to continue their career without problems and update on the latest regulations, it is highly advisable to visit the official SEBI website and find the latest news regarding the new circulars and updated guidelines. In addition, they must also comply with SEBI's reporting requirements from time to time. Never deny the terms and conditions, the renewal rules and various other aspects that can prevent you from enjoying the great career potential of the investment advisor.

In the event that the applicant is a bank or central bank, it should be authorized by the RBI to act as an AI and the application should be submitted through a division or affiliate or separately identifiable entity.

For additional questions on regulatory guidelines for Registered Financial Advisor