How to start new business?

For starting new business first thing needed is the ability to take risks in other words we call it the spirit of entrepreneurship. Other things needed to start new business are ideas, capital, planning and managing skillfully. All these things can be got from the market or can be arranged and managed somehow but the spirit of enterprise is in the base of starting any business however small or big.
Every entrepreneur seeks opportunity to start new business. First he looks in to market and grabs that opportunity for business. Then he needs to consider how much capital he will require and from where he get that finance. How much fund he has and how much he can get from other sources. This creates question of ownership of the firm. That firm can adopt sole proprietorship, partnership, private or public company or cooperative society. This decision depends on how much finance he requires now how much he wants to expand in future and how much he wants to create reserve for adversities.
To start with the place of operation is very important. Where should we locate our office and our production unit is an important decision and our comfort of running the business depends on it. Our office should be located in such place which is near to the customer and located in a good area for our office creates the first impression and having a good location helps a lot in negotiations with customers and suppliers. Production unit should be located in such place where the availability of labour is good and also transport facility is good and also land is cheap so as to create bigger store house.
Also the cost of finance is important. If we have invested our own money then we needn’t worry about the interest on the finance, if we have borrowed money from bank then we need to worry and lastly if we have taken money from the private lenders then we need to worry much. We should be able to gain all the licenses and the machinery and the raw material fast enough to stop the building up of the tension due to increasing interest on the borrowed money. Good and trusty manpower is in the base of any successful organization so we should choose our staff with care.
Advertising starts as soon as we start our production. Advertising is the face of any new company and it is the thing which can create our image and build our brand. Proper choice of media depending on our product or service is also very important; especially when we have limited funds and limited time before the actual launch of the product in the market. Quality of the product is also very important for any advertising can bring the customers but it is the quality which decides that they will stay with us or not. Similarly customer relations are also vital and should not be neglected. Customers should be attracted by our product and service and then only they will give us second and subsequent chances of doing business with them.
In short starting any new business is very thrilling and comparatively easy but to maintain the business in a profitable way requires skill and patience.

Importance of Time

Time is the costliest thing provided by the nature. Everything in this universe is bound by time. Every day we wake up twenty four hours are deducted from our life account. It depends on us how we use these hours. If we can utilize these hours we can become great but if we can’t utilize them they pass away without our notice.
We are born according and we grow up physically and mentally according to time and we die also according to time. The wheels of time can’t be reversed so the life we live today will never return tomorrow or any other day. Time waits for no one so if we don’t value time we lose important part of our life.
All the seasons change according to time. We do all our activities on time. Sometimes even slip of a second can cost many lives. Sometimes the years pass very fast but sometimes it is difficult to pass some minutes. We grow old and weak because of time but we can neither stop time nor reverse it. What we can do is, just care for every second of our life and make them meaningful and useful. If we don’t value time people will not trust us and will not give us any responsibilities for they will think that this person is not able to come on time then how can he handle bigger responsibilities? So there are big chances that we may lose opportunity knocking at our door just because we are not punctual. The students who do not care for their time during full year regret at the time of exam for wasting lot of time but it’s no use as that time will never return.
According to the theory of Einstein if we can travel at speed greater that the speed of light then it may be possible to travel in time. This means we can go back to our past or we can go to our future. We won’t be slaves of time anymore. At present this is not possible but who knows what will happen in future? If this becomes possible then we can tackle past problems with the futuristic knowledge. So let’s hope for the best but till this does not become possible we have to take care of our time and use it as the rarest resource available to us. If we value time then we can advance in our life and we can also help our country to advance. People always complain that they don’t have time but busiest person always have time as their time management is very good. So if we want that our work is finished on time assign it the person who is very busy.