Thanks to changing economic and social dynamics, India is producing Entrepreneurs at very good rate and young people are more inclined towards Entrepreneurship rather then job. They have great Entrepreneurs to look upon and get motivated to ditch our job offers.
Here is one thing you may find Indian Entrepreneur saying here quite often; I am doing great business but struggling with cash flow.
There are few solid reason why Indian Entrepreneurs are saying this
1. In-experience of managing money - Unfortunately we didn't have much money in our hand from our parents in childhood so we never got used to it; never felt the urgency of learning how to manage it. As of now more and more young people are inclining towards Entrepreneurship and failing to get hold of money.
2. Falling towards luxury in initial days - As money starts flowing from business they start to use that money as their piggy bank and take something out every now and then for fulfilling their wants (WANTS are something you don't need desperately but if you get it, it will give you luxury). We all deserve the luxury as we have worked hard to make our business successful but it should be last thing for the Entrepreneurs at-least in your initial days (Minimum 3 years).
3. Lack of guidance - Indian Entrepreneurship ecosystem lacks mentors. Most of the small business run by single person or with few partners. They never set their foot in conferences and doesn't have mentor who can guide them how to manage money and make the best use of cash flow.
4. Replicating US culture - United States is un-doubtedly a country filled with awesome entrepreneurs and they have created and creating fortune for themselves and for country. Here we follow them blindly. AAAhh how good Google's office is, I'll build the same kind of cool office. As we get some profit, we immediately start investing lots of money creating awesome office but this will be of no use if you can't pay your employees on time. Great offices aren't ones who have fancy cabins, big cafeteria and Xbox for employees but great offices are those filled with happy and motivated peoples.
We are now nation with most young minds and excited towards becoming Entrepreneur; we really need to spend wisely. It's our responsibility to share with our younger generation how they can use their money in growth of their business rather then falling in trap of luxury.
Here is one thing you may find Indian Entrepreneur saying here quite often; I am doing great business but struggling with cash flow.
There are few solid reason why Indian Entrepreneurs are saying this
1. In-experience of managing money - Unfortunately we didn't have much money in our hand from our parents in childhood so we never got used to it; never felt the urgency of learning how to manage it. As of now more and more young people are inclining towards Entrepreneurship and failing to get hold of money.
2. Falling towards luxury in initial days - As money starts flowing from business they start to use that money as their piggy bank and take something out every now and then for fulfilling their wants (WANTS are something you don't need desperately but if you get it, it will give you luxury). We all deserve the luxury as we have worked hard to make our business successful but it should be last thing for the Entrepreneurs at-least in your initial days (Minimum 3 years).
3. Lack of guidance - Indian Entrepreneurship ecosystem lacks mentors. Most of the small business run by single person or with few partners. They never set their foot in conferences and doesn't have mentor who can guide them how to manage money and make the best use of cash flow.
4. Replicating US culture - United States is un-doubtedly a country filled with awesome entrepreneurs and they have created and creating fortune for themselves and for country. Here we follow them blindly. AAAhh how good Google's office is, I'll build the same kind of cool office. As we get some profit, we immediately start investing lots of money creating awesome office but this will be of no use if you can't pay your employees on time. Great offices aren't ones who have fancy cabins, big cafeteria and Xbox for employees but great offices are those filled with happy and motivated peoples.
We are now nation with most young minds and excited towards becoming Entrepreneur; we really need to spend wisely. It's our responsibility to share with our younger generation how they can use their money in growth of their business rather then falling in trap of luxury.
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