What is SWOT analysis?

A business without a plan might not ever be successful. Along with this, we all are also aware that it is essential to look through the pros and cons before taking up a certain project. But have you ever wondered what is the right method to do so?

Using a SWOT analyser can provide you with detailed analysis of whether taking certain step for a project, will be advantageous or disadvantageous. SWOT stands for:

S- Strengths
W- weaknesses
O- opportunities
T- Threats

How to use it?swot matrix.png

In what terms you should think while filling up these attributes:

SWOT_analysis_example.png

 

Your strengths, weaknesses as a company varies from others, thus, while considering these attributes, you should also brainstorm about what facility you don’t have as a company and what is needed in order to fulfil a necessary step of the project.

 

 

Bibliography:

A SWOT Analysis of Le Meridien Barbarons Hotel | Swot …http://www.bing.com/cr?IG=2C210495573F4C2098043203330A61F0&CID=2DE5DFF212FA66671CDED432135C67FC&rd=1&h=jWFIcVtqx79TQQzBZWHqNz3S-BlrV7NXp_Ypp45PRIc&v=1&r=https://www.scribd.com/doc/36249204/A-SWOT-Analysis-of-Le-Meridien-Barbarons-Hotel&p=DevEx,5055.1.

LEADERSHIP AND MANAGING CHANGE – Culcukegbus. http://www.bing.com/cr?IG=3FD8C36FC0EB4D0F979EF5AEF487AEFA&CID=0F9B86BAC6B26858397D8D7AC71D69E2&rd=1&h=qxeFpjLaJ-21P9RqbeWFTSBfVIlErQwUqFAgZc4ztoQ&v=1&r=https://culcukegbus.wordpress.com/2016/09/17/leadership-and-managing-change/&p=DevEx,5049.1.

 

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7 Famous quotes on Entrepreneurship

1- “You are built not to shrink down to less but to blossom into more”  – Oprah Winfrey

2- “Your time is limited so don’t waste it living someone else’s life” – Steve Jobs

3- “Move fast and break stuff unless you are breaking stuff, you are not moving fast enough.”

-Mark Zuckerberg

4- “When something is important enough, you do it even if the odds are not in your favour”  -Elon Musk

5- “As we look ahead into the next century, leaders will be those who empower others”  – Bill Gates

6- ” If you can dream it, you can do it” – Walt Disney

7- “Successful Entrepreneurs don’t wait for the perfect moment – they create it” – Richard Branson

How to save a business from bankruptcy

Bankruptcy is a state where a company is not able to pay outstanding debts. There are many small businesses around the world which have been shut due to bankruptcy. It is quite surprising to know, that most businesses start with loans and debts however, at times when the company is not able to perform well and ends up being in a lot of debts it has to be shut down. Here is a list of rules that a company must follow in order to prevent itself from being bankrupt.

  1. You must determine how much your creditors must be paid.

  2. Be sure about how much is needed for the business, don’t take too much.

  3. Analyse the sales and then take the decision.

  4. Be sure about your operation expenses thus cut down on what is not needed.

  5. Re-negotiate ( A very important skill to be an entrepreneur.)

  6. Make your products better and never compromise on the quality.

  7. Engage with other people, who can be your clients.

These are some of the basic rules which are self-explanatory about how you can prevent your business from going bankrupt.

My experience of working in an office environment, as an intern.

Working in an office environment is all about being attentive, looking for problems, never compromising on the quality and always trying to improve. Since improvement is how you can reach the top, for which, you shall never forget it.

For me, it was a mix of different emotions, at times we had to be very confident when it came to designing and deciding the designs. Whereas, at other times, we were supposed to be looking for our mistakes to make the product flawless in its quality.

Moreover, also while we had to check in and out the are materials our eyes had to be open enough to look at what’s missing or if there’s anything that the supplier has added extra. This task, in itself requires a team of people who are attentive enough to look through what is required and what is not, a certain desired product. Without this,  it isn’t possible for one to produce the best quality product.

I also noticed, that in order for the product to be finalised there are certain trials conducted which are supervised by the production team and the head as well. Then the product is showcased in front of the Director, then the client. If either of the director and the client has a problem  with the product, it is remade in the best possible manner. Always remember that you earn your job, if the client is unsatisfied then your job may also be taken away. Fortunately, this never happened in the company that I interned in, as they give special attention to the quality of the product.

 

 

 

 

 

 

How do entrepreneurs focus? What is the key?

What is the key to focus? How do they get gritty? Why is it essential for them to be able t focus on their business?

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Well, there might be myriad of questions flowing in your mind about how do entrepreneurs manage time and get gritty. In simple words, it is grit which helps them focus. It is very easy to get as well, if you believe that doing something is the necessity and is essential than any other pleasure. Be in this mindset, and don’t give it up, this is the true secret behind getting gritty. We all know that a career is what is the most essential and it is extremely important than any thing else in this entire world. To understand this, you have to talk to yourself, find out ways through problems, listen to your mind. The moment you understand its importance you will never get distracted.

Trusting yourself is one thing and focusing on what’s good for you is another, so it depends on you whether you want to focus on what’s good for you or you just want to trust yourself, and forget about guiding yourself on the right path to success.

The key to focus is to have a grit, put away those pleasures which are harming you, such as, mobile phones, or any other obsession, which is harmful to your belief system. In order for you to focus you have to put away all those things which may seem to harm your focus, harm your concentrating power and various other skills essential for you to achieve what you want to achieve.

 

Citations:

http://www.aproposdecriture.com/wpcontent/uploads/2014/03/Innovation_Inspiration_600_400_70_c1_center_center_0_0_1.jpg.

 

Modern entrepreneurs who inspire the world

There are many entrepreneurs who are in the limelight for their smart work and success. To name a few, Elon Musk, Richard Branson and Oprah Winfrey have been extremely famous for their great work which is providing the world with numerous benefits. Elon Musk’s Hyper-loop has been recently been looked upon by many for great advancements to occur this gives us hopes for the future.

Not only this, but the app created by Tencent which is known as WeChat as well as ‘Weixin’ in China, has also been in the limelight for the kind of system it provides to its users, there’s an app in app system along with it, it can also provide you with a number of utilities in just one download or one app. its users have been growing at a brisk rate since 2011. This has provided the developers with many opportunities to change or modify it for providing its clients with many more benefits.

Moreover, there have been more such innovators changing the world such as Witricity, which was first thought of by  Dr. Katie Hall, the CTO. At Witricity they plan  to provide houses with electricity without wires, this is indeed a great plan for which they aim to use magnetic fields, so that in the future we don’t require wires at all. These ideas have been shaping the world for its betterment and thus it has been becoming better and better. In addition the former CEO  of Apple, Mr. Steve Jobs has also introduced many wonders to this world, he has been able to bring upon such advancements in the field of science and technology that we would n’t have ever thought of.

 

Citations:

Steve Jobs is in Rio de Janeiro, alive. • r/Pics.” Reddit, http://www.reddit.com/r/pics/comments/2cu340/steve_jobs_is_in_rio_de_janeiro_alive/. Accessed 28 Sept. 2017.

“Steve Jobs.” Biography.com, A&E Networks Television, 28 Apr. 2017, http://www.biography.com/people/steve-jobs-9354805. Accessed 14 Sept. 2017.

The Staff of Entrepreneur Media, Inc. Share Add to 15 min read, et al. “Starting a Business.” Entrepreneur, http://www.entrepreneur.com/topic/starting-a-business.

Moon, Allen. Entrepreneur, 27 Feb. 2007, http://www.entrepreneur.com/article/175242.

Roell, Kelly. “6 Steps to More Focus.” ThoughtCo, http://www.thoughtco.com/steps-to-focus-3212069.

 

 

Be decisive

It is also essential for you to be able to take your decisions on your own and not in haste, as that can prove to be unfavourable for the company, as due to this there will always be tension and risks.  You have to take decisions on your own but never in haste, you must always be calm for this purpose since you are the main person who has to see through everything. Thus, it becomes essential or inevitable for you to take decisions which are right for the company.

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There are several reasons why certain decisions taken for the company have not proven to be the right ones, firstly, you must have taken them in haste, second, you mustn’t have thought enough about it, third, you didn’t understand the real problem to which you were supposed to find the solution. This can cause major obstacles to your business which can be unavoidable at times. Due to which it becomes crucial for you to never be in haste, take the decisions after proper discussions. Being calm is also one of the essentials to be kept in mind. As that is how you can take control of your employees without fights.

Being decisive might be hard for some, however, if you trust yourself and take the decisions after some time of discussion you won’t have hard time thinking or being indecisive. Thus, you will be able to take the right decisions that will not only be fruitful for you but also for your company. This will help you to grow and learn not only as an entrepreneur but also as an individual.

 

Citations:

Goins, Jeff. “3 Keys to Becoming a More Decisive Leader.” Entrepreneur, 20 Nov. 2015, http://www.entrepreneur.com/article/250982.

Eha, Brian Patrick. “Why Pretending to Be Decisive Works and Other Tips This Week.” Entrepreneur, 15 Mar. 2013, http://www.entrepreneur.com/article/226119.

“13 Characteristics of Successful Entrepreneurs.” Arkhitech, 30 Apr. 2015, http://www.arkhitech.com/13-characteristics-of-successful-entrepreneurs/.

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