3 Principles of Success Every New Entrepreneur Should Adopt in a Post-Covid World - Entrepreneur

3 Principles of Success Every New Entrepreneur Should Adopt in a Post-Covid World - Entrepreneur


3 Principles of Success Every New Entrepreneur Should Adopt in a Post-Covid World - Entrepreneur

Posted: 22 Oct 2020 01:30 PM PDT

4 min read

Opinions expressed by Entrepreneur contributors are their own.

At no time in recent have businesses suffered as much as they have in the year 2020. Small-scale entrepreneurs have been the most hard-hit. 

Many things make the world evolve quickly and tragedy is one of them. Occurrences like Covid have an uncanny ability to redefine priorities for the foreseeable future and it is clear that this has done just that. To succeed in a Post-covid world, Entrepreneurs will have to prioritize some principles over others and build their businesses around these principles.

1. A culture of agility

Agility is the ability of a business to adapt quickly to change, or crises in a cost-effective way that doesn't jeopardize the quality of their product or service. Clearly, the companies that have survived so far are those who have been able to make sharp changes in the way they conduct business in light of the pandemic. 

Covid-19 has highlighted the need to build agile businesses, but more than that, it has highlighted the need to build a culture of continuous agility within our businesses. There are many ways to do this, but I often advocate a "knowledge garnering strategy" towards building an agile culture. 

Knowledge-seeking businesses are often the most agile. This doesn't end with courses and training, it entails placing a constant challenge on your staff and business to find "a better way" at all times. 

Pushing everyone in your organization to challenge settled routines at all times and to seek and proffer different approaches to achieve your aspirational goals is the best way to set up a culture of agility. This challenge should cut across the exploration of new , new platforms, new knowledge, and strategy. I often advocate rewarding the boldest ideas from your staff. 

You do not have to constantly tinker with your business, but keeping your staff in an innovative state of mind on a regular often yields fruits when the need does come to make a sharp change. It is one of the best ways to stay ahead of the curve and not be caught out by eventualities. 

2. A culture of social relevance

It is no longer unusual to see businesses give to social causes once in a while. For a long time businesses have politicized social issues to gain relevance, profit, or just to check the CSR box. However, Covid has altered the attitude towards social issues drastically, and we now see so many businesses overhauling their operations to reflect a more socially relevant approach to business. 

We now see more clearly how much we can contribute towards the society that patronizes us, but what is more crucial is that the society now looks up to businesses for such interventions as well. It does seem that for the foreseeable future businesses have to work hand in hand with the government and non-profits to intervene in social causes. 

There are upsides to this though, social impact has proven to attract immense goodwill for businesses and to act as a massive tool for marketing

In simple terms, trends show that customers tend to patronize socially relevant businesses more than others. In other words, building a strong culture of social relevance into the workings of your business is a great post-covid success principle. 

3. Socially-distanced customer service

We all had to go through the agony of restraining ourselves from hugging our friends, family, and in some cases even our spouses. On the other hand, the urgent need for people to quarantine quickened the evolution of cashless payment systems. It has also expedited curbside deliveries and home deliveries as a mainstay for businesses. 

The use of and cash machines has decreased in general as people veer towards comparatively more secure and much more convenient digital methods of payment.

FIS Global indicates how portable card machines accept payments through services such as , Android Pay, and , and can now even be connected through Bluetooth or Wi-Fi. These features have only become more valuable and used now in the time of the Covid-19 pandemic. 

Human beings are creatures of habit and it is highly unlikely that people would be going back to cash transactions and archaic payment systems when the plague passes. It is a no-brainer that setting up your business to have the least amount of physical contact with your customers is now one of the best ways to retain them and ensure success. Sounds ironic, doesn't it? 

Well there you have it, Covid-19 has taught us a few harsh lessons, but there is no reason we can't evolve positively to build smart, agile, and .  

Profitable Business Idea of Pulses will Earn You Rs 50000 in a Month; Just Do This - Krishi Jagran

Posted: 01 Oct 2020 12:00 AM PDT

Pulses Business
Pulses Business

Small Business Idea of pulses: Do you want to start a business with a very low cost and earn good profits? Then, opting for Pulse Business can be a better option for you. Starting this business with a correct guide can help you earn even in lakhs. Below are some important tips to help you make pulse business a profitable venture.

The interesting thing about this small business idea is that you can start it with less money. So, let's get started and know how to start the business of pulses, how much it will cost you & how much will be the profit from this business.

Demand in pulses business:

As pulses are used in every person's home, the price of pulses is increasing continuously. Lentils are what every person wants to eat and they also have various health benefits. Thus, in such a situation, if you want to start trading pulses, then you can earn a lot of money from it. If done the business with correct guide trade you can make a profit of about Rs 50000 per month.

Cost to start pulses business:

If you start with trading pulses, it will cost you up to Rs 5 lakh. However, if you do not have enough money, you can take a loan from the bank. It is to be noted that the government has implemented many such schemes under which you can start business by taking loans.

How to start the pulses business?

Choose the right place:

First, you need to choose the right place before starting any kind of business. If you have your own shop, then its fine otherwise, you will have to rent a shop. You must choose the place in a market where the ration shop is less in number. So the customer will not have trouble in coming to your shop. Less competition means more profits.

License required for pulses business:

  • You have to get GST number, to get GST number you have to register through GST portal. But remember, there is no GST of any kind in unopened lentils and plastic packaged lentils. If you sell branded lentils, it will cost 5% GST.

  • To start this business in a rented shop, make a rent agreement.

  • After it is done, you have to get a license to run a shop from MCD.

  • As the business of lentils is related to food, you are required to obtain a license from FSSAI.

Where you can buy lentils?

In most of the state there are pulses mills, which are sold in polished pulses retail market or wholesale market. But, to get in depth knowledge about this business, take help of social media.

There are some states like Delhi NCR which have lots of pulses which you can contact directly. You can also buy lentils from your resident area.

How to market the pulses business?

Build your brand to market pulses business. Be sure about the quality of pulses sold by you. If the quality is good, then you can earn a lot of money in a very short time. You can sell lentils offline and online by taking help of Big Basket, Amazon, E-commerce etc.

Profits in pulses business:

Profits from this business depend on where you opened your shop and how much pulses are being sold from your shop. You must focus on proper planning, right shop location, good quality pulses, less competition, and more marketing.

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