What Good Does Fear Do?
This particular post has been taken from Take Charge, Building an Entrepreneur Mindset by Gaurav Marya. And it has been written from the perspective of an entrepreneur.
Fear is a basic emotion; it remains with all of us. All of us face the same fears whether we have two lakh, two crore or two hundred crore rupees. We are afraid of losing status, reputation, market share, people, opportunity….
What is Customer Equity (2).
In continuation of the previous post on Customer Equity.
The Maruti Suzuki story illustrates both the effectiveness and the limitations to cultivating customer equity. My first car was a Maruti 800 and later I graduated to Esteem; when I could afford it I purchased a Zen as my second car. It was at this stage that I decided to move out of the Maruti brand, because they could not give me a good experience of luxury. Perhaps, my experience as a customer aptly characterises the Maruti Suzuki story in India, doesn’t it?
Getting Investment.
The investment route to acquiring funds is a challenging route for a start-up. As investments are against equity rather than on collateral, the investors would be sharing the risk. Hence, the investor would be as interested in you as an entrepreneur, your vision and your commitment to the enterprise as he would in the assets you have created.
What is Customer Equity.
The following extract is from Gaurav Marya’s latest book, ‘It Takes Two To Tango’, published by Entrepreneur India. It is in spirit of sharing his thoughts that he has authored two bestselling titles on subjects dear to his heart and central to his business: Take Charge! Building an Entrepreneurial Mindset and Franchising: The Science of Reproducing Success. This is from his third bestselling book, It Takes Two To Tango. Read on:
What’s in the Marketing (of a phone)?
Xiaomi’s Mi3 is touted as the “Apple of China”, and rightly so, considering the publicity it is been getting in almost every city in India. The world’s biggest smart phone market, China, saw Mi3 comfortably outshining Samsung to be the No.1, holding a 14 per cent market share in the second quarter of 2014 and selling about 1.5 crore smart phones in China as against 1.32 crore of Samsung smart phones.
Becoming Growth Ready.
After you see your business operations stabilise, you need to work towards making it growth ready. The problem with the mindset of many small businesses is that they think that growth is a choice they may or may not take. Growth is no magic mantra and the choice cannot be seen as simple “grow or die.”
A Word on Bootstrapping.
We will talk about bootstrapping today. Bootstrapping refers to a self-sustaining process of acquiring funding that moves forward without much external help. An entrepreneur is said to be bootstrapping when he finds and builds the company from personal finances or from the operating revenues of the business.