Friday 10 November 2017

Why do Some Businesses Fail?





“All life is an experiment. The more experiments you make the better.” —  Ralph Waldo Emerson


Entrepreneurship is for bravehearted, not for fainthearted. Although every entrepreneur wants to succeed majority of them fail due to several reasons. We will discuss the reasons for businesses failures and explore practical ideas to achieve business successes.   


Why do some Businesses Fail?

“No matter what one does, regardless of failure or success, the experience is a form of success in itself.” — Jack Ma, founder of Alibaba

Only few businesses succeed while most of them fail. Here are the reasons for business failures: lack of vision; gap between vision and mission; lack of liquidity; improper planning; failure to adapt to change like Kodak; no long-term planning; deviating from the main goals; compromising core values; lack of persistence; inability to manage external threats; lack of internal locus; lack of right team; inability to retain the right talent; focusing more on ends, not means; and above all, lack of ethics. In a nutshell, the businesses fail when entrepreneurs are not ready to take the plunge; no proper marketing strategy; not able to reach right customer; no idea about budgeting; not using automation; not implementing paid advertisements; and not sure of what to measure.


How to Achieve Your Business Success?

“Success is the result of perfection, hard work, learning from failure, loyalty, and persistence.” — Colin Powell

To be successful in business, you must enter unexplored areas where there is a huge potential for growth and expansion. You must keep the technological changes in view before you write your business plan. You must do a thorough research about the area to analyze prospects and problems. You must conduct SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis. You must build a strong team of employees and retain the best talent. Be prepared for internal and external challenges and changes. Be adaptable. Build a team of advisors and trouble-shooters to assist you whenever you encounter business challenges. Here are some tips to achieve success of your business:
  • Don’t be overconfident.
  • Learn when to hold and when to fold.
  • Keep liquid capital ready.
  • Manage volatility, uncertainty, complexity and ambiguity.
  • Hire a coach or mentor.


Convert Your Passion into Profit

“Failure should be our teacher, not our undertaker. Failure is delay, not defeat. It is a temporary detour, not a dead end. Failure is something we can avoid only by saying nothing, doing nothing, and being nothing.” — Denis Waitley

There are highs and lows in business the way you undergo highs and lows in life. You must take the challenges head-on. Remember, no business is too big to fail or too small to succeed. Hence, be passionate about building your business empire, add value to customers through continuous feedback, and reinvent regularly through innovation to succeed as an entrepreneur.


“We need to teach the highly educated man that it is not a disgrace to fail and that he must analyze every failure to find its cause. He must learn how to fail intelligently, for failing is one of the greatest arts in the world.” — Charles Kettering

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Life is great!

Professor M.S.Rao
Founder of MSR Leadership Consultants India
Global Top Gurus 30: http://globalgurus.org/upcoming-leadership-gurus/




Thanks for reading!

Kindly share your thoughts and comments below, I’m sure someone out there will find your story useful.



Copyright©2017 MSR Leadership Consultants India. All Rights Reserved. Reproduction in whole or in part without permission is prohibited.


This is a nonprofit blog to share Professor M.S.Rao’s passion and vision to build one million students as global leaders by 2030. Please don't cut articles from my blog and redistribute by email or post to the web. The use of this material is free provided copyright is acknowledged and reference or link is made to the Blog http://professormsraovision2030.blogspot.in.  This material may not be sold, or published in any form, or used in the provision of business services to a third party without permission.
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“Failure is only a comma, not a full stop.” ― Professor M S Rao



Vision 2030: One Million Global Leaders
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Thursday 9 November 2017

Professor M S Rao with 'Neethone Dance' Team in Hyderabad, India - Udaya Bhanu and Renu Desai














With Team of ‘Neethone Dance’ – Udaya Bhanu and Renu Desai
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“Things You Don’t Know about Professor M. S. Rao” https://lnkd.in/bY3_Z5w


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If you like this article, Like and share Facebook Page: https://www.facebook.com/pages/Professor-MSRao/451516514937414


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Life is great!

Professor M.S.Rao
Founder of MSR Leadership Consultants India
Global Top Gurus 30: http://globalgurus.org/upcoming-leadership-gurus/




Thanks for reading!

Kindly share your thoughts and comments below, I’m sure someone out there will find your story useful.



Copyright©2017 MSR Leadership Consultants India. All Rights Reserved. Reproduction in whole or in part without permission is prohibited.

This is a nonprofit blog to share Professor M.S.Rao’s passion and vision to build one million students as global leaders by 2030. Please don't cut articles from my blog and redistribute by email or post to the web. The use of this material is free provided copyright is acknowledged and reference or link is made to the Blog http://professormsraovision2030.blogspot.in.  This material may not be sold, or published in any form, or used in the provision of business services to a third party without permission.
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Tuesday 7 November 2017

Be a Farmer, not a Hunter to Provide Meaning to Your Life ― Share if You Care






“The great use of life is to spend it for something that will outlast it.”  —  William James


You will find various personality types globally. Some are givers while some are takers. Some adopt the policy of ‘give and take’ with an emphasis on reciprocal response. You will find stiff competition among takers and lesser competition from the people who extend their hands with an eye for reciprocal response. You will find the least competition among givers. So why don’t you join the group of givers to add value and make a difference to the world?


Farmers versus Hunters

“If you make it your goal to always find a way to add more value to people’s lives than anyone else then you’ll never have to worry about success.” — Tony Robbins

Here are some differences between the farmers and the hunters. The farmers are visionaries with a long-term approach while the hunters are missionaries with a short-term approach. The farmers lead a happy life while the hunters crave for a luxurious life. The farmers are people-oriented with a transformational mindset while the hunters are task-oriented with a transactional mindset. The farmers adopt soft leadership while the hunters adopt hard leadership. The farmers live for tomorrow while the hunters live for today. The farmers add value to others to provide meaning to their lives while the hunters look for either reciprocal response from others or adopt the principle of ‘what’s in it for me’ (W.I.F.M.). In a nutshell, the farmers believe in marathon while the hunters believe in sprint. When you look at leaders including Mahatma Gandhi, Martin Luther King Jr, Mother Teresa and Nelson Mandela they are farmers and givers. That is the reason they are still remembered even today.


Conclusion

“The key to a great life lies in shifting your focus from accumulation to contribution. The old saying "He who gathers the most toys wins" needs to be replaced with "He who serves the most prospers". Remember, happiness is the by-product of a life spent adding value to other people's lives.” —  Robin Sharma

Some people believe in planting seeds while some believe in enjoying the fruits. If you become a planter of seeds you will be remembered beyond your lifetime because you feed people and derive great satisfaction from your life. At the end of your life, you will find meaning for your life. Hence, become a farmer, not hunter; and be a giver, not a receiver to make a difference.


“If you're not doing something with your life, then it doesn’t matter how long you live. If you're doing something with your life, then it doesn't matter how short your life may be. A life is not measured by years lived, but by its usefulness. If you are giving, loving, serving, helping, encouraging, and adding value to others, then you're living a life that counts!” — John C. Maxwell


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If you like this article, Like and share Facebook Page: https://www.facebook.com/pages/Professor-MSRao/451516514937414


Read my ‘Vision 2030 One Million Global Leaders’ URL: http://professormsraovision2030.blogspot.in/2014/12/professor-m-s-raos-vision-2030-one_31.html  


Life is great!

Professor M.S.Rao
Founder of MSR Leadership Consultants India
Global Top Gurus 30: http://globalgurus.org/upcoming-leadership-gurus/




Thanks for reading!

Kindly share your thoughts and comments below, I’m sure someone out there will find your story useful.



Copyright©2017 MSR Leadership Consultants India. All Rights Reserved. Reproduction in whole or in part without permission is prohibited.

This is a nonprofit blog to share Professor M.S.Rao’s passion and vision to build one million students as global leaders by 2030. Please don't cut articles from my blog and redistribute by email or post to the web. The use of this material is free provided copyright is acknowledged and reference or link is made to the Blog http://professormsraovision2030.blogspot.in.  This material may not be sold, or published in any form, or used in the provision of business services to a third party without permission.



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Saturday 4 November 2017

The Power of Social Media! ― Share if You Care







“You buy lifestyle from real estate; you buy experience from restaurant; you buy security from education; you buy convenience from gadgets; you buy prosperity from events; and you buy happiness from religion.” ― Professor M.S.Rao


Social media is changing rapidly. I enjoy sharing the following ideas and insights on social media for your action to reap rewards:  
  • Become a digital leader.
  • Indians lack packing and marketing despite having depth of knowledge.
  • Fortune is always in the follow-up.
  • Be a farmer on social media, not a hunter. Plant seeds, share ideas and add value to make a difference.
  • Build your leadership brand on social media.  
  • Turn your contacts into contracts.
  • Social media is a word of mouth with steroid.
  • Convert your leads into conversions to monetize. Remember, all leads won’t become conversions.
  • Plant seeds of value to audiences on social media everyday.
  • Avoid posting crappy content.
  • No business is too big to fail and too small to succeed.
  • Previously people made money from land but presently people make money from data.
  • You cannot learn social media in educational institutions because the subject changes quickly.
  • Take complex issues and simply them.
  • Almost 8 new people are onto the internet every second.
  • Everything has changed after demonetization in India. Almost everything is technology-enabled.
  • Get everyone to talk about you, not yourself.
  • The eight pieces of digital puzzle are website, content, landing pages, email/CRM setup, social media, blogging, paid advertising and analytics.
  • What is measured will be tangible.
  • You get high quality leads from blogs. Hence, add value to impact and influence.  
  • Buying is an emotional decision and you make it rational later. Women make major decisions at home, not men.
  • You must have ROI (Return On Investment) on social media. There must be MIYB (Money In Your Bank).
  • Take one or two social media platforms of audiences and spread to other platforms gradually.
  • Social media is about engagement. People connect with you based on your messages, not technology.
  • Take conversations outside to follow-up.
  • Find out from which channels you are getting opportunities and allocate your budget accordingly.
  • Don’t be a seminar junky. Take action.

People perceive that when there is more crowd lined up there is more quality. Similarly, when more people comment on social media, people will follow there. Social proof is the key. It is like approval on social media.

When you shop without a list you regret buying unwanted things, wasting your time, end up spending more money, and regret for having gone out.

Here are some of the reasons why businesses fail: not ready to take the plunge; no proper marketing strategy; not able to reach right customer; no idea about budgeting; not using automation; not implementing paid advertisements; and not sure of what to measure.

There are three elements to a powerful post: curiosity, emotion and call-to-action. Right message to the right audience hits the bulls eye. Hence, find out what customers want to cater your content. There is no short cut to success on social media. Strategy is a must. Be consistent. Don’t dilute your leadership brand. There must be psychology behind the posts.

Information versus transformation: There is a difference between information and transformation. You acquire information from online including blogs, Youtube and websites but you transform when you attend seminars and training programs since they contain role-plays and experiential learning. Precisely, virtual training programs give you information while the physical training programs give you transformation.


Build Your Leadership Brand

Here is a seven-fold methodology to succeed on social media and to build your leadership brand: 1.            Business objectives 2.         Marketing objectives 3.       Marketing strategy 4.           Content objectives   5.            Content strategy 6.  Content tactics and 7.         Content metrics.

When you post something on social media, people are judging you. There must be congruence between your words and deeds. Hence, be careful about what you are posting on social media. It is okay to share what you stand for. But it is advisable not to post on religion and politics.

People can easily make out whether you are a hunter or farmer. Build your image on social media as a farmer and planter of ideas. Therefore, to grow on social media, plant seeds and keep adding value. It takes time and patience to get the results. It is rightly said that knowing and not doing is equal to not knowing. Hence, take action to make your presence felt on social media to build your leadership brand and add value to others.

Share if you care.




If you like this article, Like and share Facebook Page: https://www.facebook.com/pages/Professor-MSRao/451516514937414


Read my ‘Vision 2030 One Million Global Leaders’ URL: http://professormsraovision2030.blogspot.in/2014/12/professor-m-s-raos-vision-2030-one_31.html  


Life is great!

Professor M.S.Rao
Founder of MSR Leadership Consultants India
Global Top Gurus 30: http://globalgurus.org/upcoming-leadership-gurus/




Thanks for reading!

Kindly share your thoughts and comments below, I’m sure someone out there will find your story useful.



Copyright©2017 MSR Leadership Consultants India. All Rights Reserved. Reproduction in whole or in part without permission is prohibited.


This is a nonprofit blog to share Professor M.S.Rao’s passion and vision to build one million students as global leaders by 2030. Please don't cut articles from my blog and redistribute by email or post to the web. The use of this material is free provided copyright is acknowledged and reference or link is made to the Blog http://professormsraovision2030.blogspot.in.  This material may not be sold, or published in any form, or used in the provision of business services to a third party without permission.

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Wednesday 1 November 2017

Free Chapter ― Professor M.S.Rao’s Upcoming Book “Secrets to Achieve Your Financial Freedom from Real Estate Investments”





Dear friends,

I am excited to share with you that I authored a book on real estate and financial investments. It is tentatively titled, “Secrets to Achieve Your Financial Freedom from Real Estate Investments.” Here are the details about the book with a free chapter. I would appreciate if you could share your thoughts about this book on social media channels including Facebook, Twitter, LinkedIn and Google+.

About The Book
“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.” — Franklin D. Roosevelt
This book is based on author’s personal experience to buy his dream home. It contains case studies, anecdotes, striking stories and investments in real estate business to strike rich with a limited capital.  It deals with real estate business, explains the process of buying your dream home and achieving your financial freedom. It unveils tools and techniques about investments and outlines steps involved in buying your dream home, the process of negotiation, and building connections to lead your life happily. It
  • Explains fundamentals of real estate investments.
  • Equips you with financial freedom.
  • Emphasizes the philosophy of ‘buyers first, sellers second, and financial institutions third.’ 
  • Implores stakeholders to serve with passion and purpose to make a difference to the world. 

This book serves as a basic guide to every homebuyer from searching to shifting to their dream home. It is a short course on real estate investments offering immense guidance, inspiration and actionable content that can be referred to again and again. You can easily toss the book into a briefcase or purse and read here and there as time allows. It is a quick reference guide to real estate consultants, builders, sellers, buyers, bankers and investors.     

 Introduction

“Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.” — Warren Buffet


Globally growing population creates a greater need for housing. There are immense opportunities in real estate business to become rich. If you have the passion to serve your customers with a purpose to make a difference in their lives, you can earn money and goodwill. You can build great connections to grow quickly not only financially but also personally, professionally and socially.

Indian real estate market is unregulated where builders flout the norms and agents operate without any license. It needs to be revamped to protect the home buyers. Usually, it is a practice for both sellers and buyers to go through referrals and connections. In contrast, the market in developed nations is highly regulated with a little scope for ligation. All stakeholders including buyers, sellers, agents, consultants and financial institutions are protected.


Games Real Estate Agents Play

Although I am 54 years old, I don’t have my own house. I still stay in single bedroom rented apartment. I sold a piece of land that I bought more than 10 years ago. The value of the land appreciated. I sold it to fund for my younger son’s overseas education. I still have little funds to purchase a 2BHK flat. I began searching for flats within my small budget.

I have come across real estate agents who are ruthless in their approach. They applied all kinds of pressure tactics and marketing strategies to purchase the flat else I would lose the opportunity. I kept cool as I understand the human psychology and the techniques marketing people deploy and employ to push their sales.  Some agents keep extra margin without revealing to the buyers. Some agents make a short-term agreement with the sellers and sell the property to the buyers for higher rate. Some agents don’t allow the buyers to talk to the sellers. They allow both buyers and sellers to meet only after the deal is finalized. Most agents create artificial demand to create panic in buyers.


Do’s and Don’ts to Buy Your Dream Home

Here are some do’s and don’ts to observe before buying your dream flat:
  • Look for genuine real estate agents through connections and references.
  • Be in the good books of agents who can inform you about the sellers in need of immediate cash. 
  • Avoid the sellers who are adamant and rigid in negotiations.
  • Check websites offering genuine information about properties.
  • Don’t buy on impulse. Take your own time to purchase the property. There are always better opportunities waiting for you.
  • Don’t worry if you miss to buy the property you liked. Remember that everything happens for a reason.
  • Keep cash with you ready, if you have. It helps you buy your dream home at lower price. 
  • Build a good credit record to persuade your banker when you go for loan.
  • Network with bankers who can give you loans. Additionally, network with auditors and lawyers.
  • Maintain cordial relations with your neighbors to live happily and peacefully. 

If you have made mistakes in decision-making, don’t regret. Take feedback to improve yourself. Failures are the learning lessons in life to make you more confident and competent to make better decisions in future.


Career in the Real Estate

There are plenty of opportunities to pursue a career in real estate as there is a huge demand for it globally. People need food, cloth, shelter, and medical facilities. Hence, it is better to acquire basic knowledge about real estate before entering it. It is also advisable to work with some experienced people to learn the ropes in real estate. The basic principles of real estate remain the same, but the rules and regulations vary for country to country. It is desirable to understand the taxation and legal aspects before entering it.


Conclusion

There are several ways to strike rich in business. One of them is by venturing into real estate business which offers tremendous opportunities because there is a strong need for homes especially in populated countries. The planet will be occupied with more people with homes. Hence, there is a huge potential for self-occupancy and rental incomes.  To summarize, real estate is a great business and has a huge potential in future. There is always appreciation of land prices globally. Hence, it is advisable to enter this profession to serve and make a difference. 

Note: Here is the link to purchase my bestselling book ‘21 Success Sutras for CEOs: How Global CEOs Overcome Leadership Challenges in Turbulent Times to Build Good to Great Organizations’ http://www.amazon.com/21-Success-Sutras-Ceos-Rao/dp/162865290X


Life is great!

Professor M.S.Rao
Founder of MSR Leadership Consultants India
Global Top Gurus 30: http://globalgurus.org/upcoming-leadership-gurus/




Thanks for reading!

Kindly share your thoughts and comments below, I’m sure someone out there will find your story useful.


Copyright©2017 MSR Leadership Consultants India. All Rights Reserved. Reproduction in whole or in part without permission is prohibited.


This is a nonprofit blog to share Professor M.S.Rao’s passion and vision to build one million students as global leaders by 2030. Please don't cut articles from my blog and redistribute by email or post to the web. The use of this material is free provided copyright is acknowledged and reference or link is made to the Blog http://professormsraovision2030.blogspot.in.  This material may not be sold, or published in any form, or used in the provision of business services to a third party without permission.
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