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Should I encourage My Kids to Become Entrepreneurs

Posted by on Apr 15, 2016

It is understandable if parents sometime think that they can manage their kid’s future because they don’t want their kids to struggle in their adult life. They want the best for their kids. But sometimes you need to understand and trust your kids with the career decisions they made. If you want your kids to grow up to be self thinkers then they need to learn it at their very early age.

Not every child has to grow up to be an entrepreneur, but every child should have the lessons of entrepreneur principles.

Giving Whole Heart Into Work:

You should teach your child how to give his whole heart into the work. If he is painting, or playing, singing or reading books, whatever work he is doing, he has give the whole heart in it. That only helps him to become an expert in the particular area but it also helps him to grow from his inside. It teaches him to lead and guide stuffs and serve customers properly and whole heartedly. This way leads your child’s life or business towards success.

Children does not understand yet that they are doing their home tasks for themselves, so you need to boost their self motivation by keep repeating it to them. And it may be easier to give your kids a ready made solution to their problems, but this thing actually does not do any favor to them. You should encourage them to find their own solutions.

Problem Solver And Money Manager: 

You can give your children a note book where they can write down all about their pocket money and expenses for candies, toys etc. In this way you don’t help them to understand the value of material things but also you can teach them how to manage their own money. You should tell them to be happy with their own things which you can afford and not to take things for granted.

Failure Leads To The Way Of Success:

Most of the children know things what teacher teaches them. But you can teach them another approach and how to think outside of the box. It is going to help your child to become more creative. Teach them not to give up too fast if things are not that easy. Tell them that failure is not a permanent state and how to learn from the failure. Failure is not a defining point of loss, but it is a learning experience. If a person wants to grow, he has to fail sometimes, but he should have the will power to stand up again. Failure is a part of success.

It is natural if you are over protective about the future of your children sometimes. But you need to trust their career also and give guidance in a proper way. It is not necessary that you should encourage your kids to be a business man or entrepreneur. But it is of course necessary to encourage them to be a good human being and a future leader.

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How Can I Best Solve A Conflict With My Business Partner on Whether to Sell The Business or Not

Posted by on Apr 10, 2016

Now days, most companies have business relationship with multiple partners and collaborators. There are many chances when business partnerships can be filled of with conflicts. If you don’t have an agreement with your partner, or even if you have, there are certain things you have to consider to protect yourself when conflict arises.

Find out The Root:

The First point is to find out the root of the conflict. You have to be clear to each other about the reason of making a decision to sell. It can be a cause from your family dynamics or other issues which should not affect your business.

Some other reasons also may require you to adapt and change your business plan such as not making enough money, having too much obligations, business model doesn’t work etc. There can be some fundamental issues too such as lying, cheating, stealing or other illegal activity can be causes for the confliction. Even Aggressive attitude of you or your partner can also be a reason of a conflict.

Try To Resolve Conflicts:

In all partnerships there must be some difficult issues and that can affect in the relationship too. If both of you are trying to solve the issues, then it can be said, that you have a strong partnership. So if there is any issue or conflict arises, at first you both need to evaluate whether you want to make a border or want to settle your differences.

If you have agreement, then it is essential to review ongoing communication of your partnership. Partners need to reassess how decisions were made and who have made what decisions. A Collaborative approach can resolve this conflict. You should understand your partner’s point of view and concern. Partners should be transparent and honest to each other. Transparency is the secret of great collaboration. Your emotions may often run high, when things go wrong. But you have to be very practical while running a business. Emotions can make you decide something wrong that your business can suffer.

Steps If Conflicts Can’t Be Resolved:

If you cannot solve your conflicts, you and your partner need to determine if whether one partner buys out other or not, or both sell it to a third party. If one partner buys out other then two question can be asked who the most passionate person for the business is and who need immediate cash. Both of you need to agree on the next course of action. In some cases you may need a good business attorney. You decide that you want to go for independent valuations or want a business valuation expert.

Your attitude affects intention and intention affects behavior. So while maintaining a good attitude you can always solve the conflict with your partner. Partners should have respect for each other’s thought. Most issues can be resolved through good communication. By maintaining certain things you can keep your business healthy by keeping various conflicts away that may come in between you and your partners.

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Is Using Venture Capital for My Startup Business a Good Idea

Posted by on Apr 6, 2016

A startup company is helped by Venture Capital funding when it is too small to obtain a bank loan or raise capital by themselves. These companies usually have a very high potential. The ventured capital fund is said to make money by exchanging an equity stake of the company it is investing in. Besides owning a significant portion of the company, they also have an important say in the company’s decisions. Probably this is why they are also known as seed capital.

Entrepreneurs require an amount of support in order to get their ideas off the ground. And, venture capital funding acquires a position of importance. Here’s why.

Venture capital helps small businesses to bloom.

Businesses need to have equipment, real estate, or anything that is associated with the day to day operation of the business. The influx of money shall hinder this progress. Usually, opting for venture capital funding helps the businesses to grow faster. This process is also accompanied by the renewal of self confidence in these times of the economy where consumer confidence is itself low. People are not too keen on buying new brands starting from small appliances to automobiles. The service industry is also seeing a major setback as people as people are also trying to fix things themselves instead of hiring a company to do it for them.

Using venture capital ensures that the company stops to avoid time on promoting and reinvesting. Also the process of attracting new customers and expanding without spinning its wheels; is taxing. Rather, they will be making money only to immediately buy something it needs. Without venture capital funding a startup will not be able to make quick money.

Venture capital funding helps the economy.

The web of economy says that one needs to help another to succeed in order to our economic system to succeed. Governments of many countries are getting involved with the individual venture capital companies by offering money to certain industries. People will say certain things, object to some and even comment on the political agenda behind such steps. However, many countries, for example, the United States of America, have just become the biggest provider of venture capital.

Many existing venture companies are looking for ways to invest. A lot of possibilities can be opened up if you are struggling with a start up and have an access to the internet. You will need a presentation complete with a business plan in details. This will help investing companies take a special interest in you without a doubt.

It is generally seen that venture capital groups do get some say in the decisions made by the start-ups. By helping the finance they too get a seat on the board. They actually get a stock in the company which ultimately gives them a say in how it is to be run. Unfortunately, many companies in these named industries do not use this money for investing. To be honest they are just using it to pay down debt.

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