Does your business have some strong risk management policies and frameworks in place? Doing business is a risky affair and you can’t avoid risk. So it’s really important to have a risk mitigation framework in place. There are certain key parameters that you need to focus on while trying to deploy an appropriate risk mitigation framework. In this article, we discuss particular aspects that you cannot possibly ignore as this may otherwise derail your growth. In fact, all the things that you’re working so hard for can be derailed.
Strong Governance Forms The Foundation Of An Effective Risk Management Strategy
Start off by setting up a strong corporate governance mechanism. If you’re going to get external lending and funding, then it’s important to have strong governance in place. Here, you’ve got to look at not only statutory compliance but you should also make sure that everything is done and reported in a transparent way. (more…)
Would you like to be 31% more productive or increase your sales by 37%? Perhaps you want to be happier and successful? If you answered ‘Yes’ to any of those, then there’s a strategy that will help you achieve your goals. It’s very simple – be happy first and success will follow. Before we dig deeper into this strategy, let’s debunk a particular myth that is actually stopping us from being happier, as a result of which we are getting way less success than we truly deserve.
The #1 Myth Stopping You From Being Successful
So, what this particular myth is all about? As we grew up, this particular concept had been ingrained in us, and the idea is prevalent throughout the society. We’re all told, “You have to work hard, achieve, and then you can be happy.” Can you relate to that? Well, it doesn’t work like that. Research shows that you need to happily achieve, you need to enjoy the journey along the way, rather than achieve to be happy. There are some very ultra successful people who are driven to achieve, and they find that no matter how much they achieve, they’re left feeling empty. You have to learn to actually enjoy the journey and this way, you will feel happier about what you do and what you are trying to achieve. You will get greater success. (more…)
Businesses fail due to diverse reasons. However, scarcity of funds remains as one of the major contributors to business failure. In today’s highly competitive world, businesses perish when they fail to grow. With growth being primarily fueled by continuous investments, a dearth of adequate funding may actually hinder growth, which, in turn, may shorten the lifeline of your business. The inflow of external finance can promote a drastic growth of your business only if you know how to capitalize on it. Additionally, you should have certain key things in place in order to be able to attract the right type of finance.
What do you need finance for?
Why do you need finance to grow? You may need finance to grow in a number of different ways:
- Expand into new markets
- Acquire human capital and get the right talent in place
- Develop new products or services
- Expand the reach through marketing.
So finance is required to support major functions, and it can really help accelerate the growth of a good company.
Getting Funded through Private Equity
So how can we attract finance especially by means of private equity? When you opt to raise funds through private equity, a group of financiers lends you money and, in return, they take a shareholding in your company, so they’re invested in that particular way. According to the latest weekly DNA Money update, PE-backed companies outperform various companies that are listed on the SENSEX. Additionally, it shows that the revenue growth of PE-backed companies over a five-year period is 40% as opposed to just 18% for the NIFTY Midcap or just 15% for non-PE-backed listed companies.
Interestingly, the asset growth is also 46% higher compared to just 16% with non-PE-backed listed companies, and 18% for SENSEX-listed companies.
We will reveal 4 key steps, which will improve your readiness to acquire PE finance:
Would you like to earn revenues that would be four times higher than what you currently earn today? Well, there’s one simple way through which you can achieve that. A recent EY report revealed that the companies which did this one thing had four times higher revenues than the companies that did not. So what is that one thing? Well, it’s related to your operations.
Focus On Your Core Activities
Companies that segregate their core activities from your non-core activities have four times higher revenue vis-a-vis companies that don’t. In this article, we present two different examples that make a business case for this. (more…)
” Everybody has equal opportunity …
Aristotle said: “We are what we repeatedly do, Excellence then is not an act, but a habit”. By creating routines or rituals that force you to discipline yourself to do certain necessary tasks each day, you can practically become successful by default.
9 Routines successful People do every single morning – Created with Haiku Deck, presentation software that inspires
Having a morning ritual is the single most important step you can take to have a successful and productive day. Here are 9 routines successful people do every single morning. Try adopting a few of them and see if you’re not enjoying more success in your life.
The Evening Planning Ritual
To have a great morning, have an evening planning ritual. It sounds counter intuitive, but the research shows it works. The evening planning ritual is simply a list of what it is you hope to accomplish in any given day. Add to that what time you will do the task and where you will do it. It is always best to have one prepared the night before. This will not only save you a step in the morning, but it will also enable you to compile the list when tasks and goals are fresh on your mind from the day just completed.
The agenda should function as something of a mission statement for the day. Though you may get off course from time to time, by reviewing your agenda you will be able get right back on track quickly. I generally focus on 3 important items to get done every day.
Planning your day at the start of the day is one of the biggest time wasters of the day. You are more likely to get sucked in by the fire fighting instead of focusing on the important tasks.
Get Up a Little Earlier Than You Need To
It’s amazing how much you can accomplish in the morning simply by getting up an extra 20 or 30 minutes early. That will not only give you time to do what you need to do, but it will also allow you to do it in a slower and more thoughtful way. And that can leave you less stressed and more prepared for the day ahead. (more…)