MEERACONTENT

How to decide the type of Business Ownership This is very challenging step. An entrepreneur should actually get registered for LLP. LLP means Limited Liability Partnership. Limited Liability Partnership Act, 2008 came into effect by way of notification dated 31st March 2009. Limited Liability Partnership in India is introduced as Limited Liability Partnership Act, 2008. It combines the advantages of both the Company and Partnership into a single form of organization. Renowned and accepted form of business worldwide in comparison to Company. It has low cost of Formation. It is easy to establish. It is easy to manage & run. There is no requirement of any minimum capital contribution. There is no restrictions as to maximum number of partners. The liability is limited. LLP & its partners are distinct from each other. The partners are not liable for act of partners. The statutory compliance level is less. There is no exposure to personal assets of the partners except in case of frau...

How to prepare a Business Plan 1. Write an Executive Summary It is vital part of a business plan.This is an overview of the business and its plans. It should be of maximum two pages. 2. The Company Overview The company overview provides a quick review of the company’s structure and its location. It also provides some background of the company. 3. Description of Products and Services The emphasis should be on the products and services offered and how it will fulfill the customer needs. 4. Target Market The targeted customers should be focused as per marketing segmentation. 5. Marketing Plan The exact plan to reach the target market. Details related to marketing tactics. 6. Management Team The investors are always in search of a great team in addition to innovative ideas. Describe your current team, by focusing on their expertise. 7. Financial Plan Business plan will be complete with a financial planning. Financial data is the back bone of the business plan.

It is a skill which differentiates an individual from the other. But only skill full person with audacity can take it up. It needs a lot of patience just like the patience level of farmers who plant the Chinese bamboo. Young generation has potential but perseverance is missing. A dynamic individual with perseverance is a blessing to the society as he/ she creates job opportunities for others. But many times a startup fails due to poor planning. The major problem an entrepreneur faces is of yearning for quick returns. There is no short cut for success. In a startup there is no concept of small job and fixed job. Everyone in the team have to be proactive and should work in job rotation.