After Decades of Conditioning, India Is Re-Aligning Itself With the Culture of Entrepreneurship

Globally, entrepreneurship has become a key engine for employment generation. As policy makers grapple with economic uncertainty and cultural changes, large corporations that traditionally created jobs are biting the dust. From 2003 to 2013, 712 corporations disappeared from the Fortune 1000. One can safely extrapolate that very few Fortune 1000 companies will be around in another 30 to 40 years. However a new breed of risk-takers and innovators in the form of entrepreneurs are beginning to line up on the horizon of business world. According to a report by the Kauffman Foundation, industrial era companies in the US dismissed more jobs than they created in contrast to high-growth startups that created the maximum number of new jobs between 2000 and 2010. Facebook has been credited with having created 4.5 million new jobs, directly and indirectly. This global trend makes a strong case for supporting Indian start-ups and entrepreneurs as a means to create future employment.

However, it is even more important to create a support system that ensures the survival of the start-ups beyond the first five years. In other words, once invested in a start-up, return on investment (ROI) can be assured only when the investment finds further sustenance. This is critical as 70 to 95 percent of start-ups fail or exit, resulting in disproportionately high job destruction. Studies have shown that 47 percent of the jobs created by start-ups are eliminated by exits in the first five years. It is the surviving 53 percent of businesses that witness rapid growth and bring about broad-based job creation.

This means that government policy must be attuned to the practical needs, while addressing the pain areas, of Indian entrepreneurs. The policy must address: funding to be more easily available to entrepreneurs; creating a large pool of experienced mentors and advisers who provide inputs around manpower and resource management, legal and marketing, partnerships and technology; and providing mechanisms to improve access to local and global markets.

It is evident that supporting entrepreneurship is a medium to long-term approach. The question that needs an answer is: what type of entrepreneurship should be prioritized for support so that success and subsequent job creation is assured? Today’s marketplace has become hyper competitive. Just take a look around. There are more choices available to consumers and enterprise buyers than ever before. There are new business models that don’t require buyers to own products or commit up front to long-term subscription of services. Delivery systems have changed, allowing businesses to reach customers in remote locations and new markets, bringing down geographical and political barriers. Entrepreneurs are innovating to give birth to entirely new asset-light business like Uber, Ola, Airbnb, Oyo Rooms, Zomato, Foodpanda, PayPal and Paytm. These businesses are re-shaping entire industries, forcing traditional players to re-think their strategies.

Igniting the spirit of entrepreneurship and sustaining it is also a long-term undertaking. Not everyone is blessed with the DNA of entrepreneurship. A culture of free enterprise needs to be nurtured. Today, one of the nations to have taken positive steps towards creating such a culture is the US where 1,600 colleges offer over 2,200 courses that ‘skill’ students in entrepreneurship. These courses build knowledge through academic studies, practical industry experience via apprenticeship programs, entrepreneurship clubs, boot camps and access to investor networks and support systems. Education, without doubt, is a way to ensure higher success rates for entrepreneurs. In India, we need to create cost-effective and scalable education models that help reach students using video and mobile technology on MOOC platforms that transform teaching into learning, thereby eliminating the need for massive armies of instructors and trainers.

Lastly, a substantial demographic in the form of Indian women remains untapped. Of the total number of entrepreneurs in the country, only 10 percent are women. However, even within these small numbers, women entrepreneurs from India-Kiran Mazumdar-Shaw, Sulajja Motwani and Ekta Kapoor to name a few-have been in the limelight. Significantly, a Dow Jones study has confirmed that start-ups with female executives have a higher chance of success. What they need to succeed is education, vocational training, access to funding and interaction with entrepreneurs and buyers across the world. According to The Organization for Economic Co-operation and Development (OECD), annual growth of the Indian economy could improve 2.4% if the country implements pro-gender policies.

Historically, Indian society and the education system have focused on creating doctors, lawyers, accountants, etc. These professionals are a necessity. But after decades of conditioning, the nation is re-aligning itself with the culture of entrepreneurship. We are at the cusp of entrepreneurial success. This opportunity must not be lost for the lack of policy and world-class support systems

3 Ways to Start an Auto Repossession Business Without a Tow Truck

With auto repossessions at an all-time high, getting into the repo business has never looked more lucrative.  And while you can make up to $500 per repo’ed car, investing in a tow truck isn’t cheap.

The good news is, you probably don’t need a tow truck to start your own repo business.  Here’s 3 ways you can get started in the repo industry on a shoestring budget:

Tip #1 – Partner With A Locksmith and Literally Drive The Repo Cars Away!

Nowadays, finance companies keep key codes on file for every car they own.  The key codes are a “blueprint” that tells locksmiths exactly how to create a key the same as the original.

Even if the bank doesn’t have the key codes, you can find companies online that will supply key codes for any domestic or foreign vehicle in less than an hour.  All you need to give them is the make, model and VIN number.

With your original key in hand, you can have someone follow you to the repo site and you can drive the car away!

Tip #2 – Work From Home and Help Banks Track Down Repo Cars

You don’t need to be a repo man to earn a living in the repossession industry.  You can start out by helping banks or dealerships track down hard-to-find debtors.  This service is called skip-tracing.  And they’re willing to pay big money for it since their cars are worth thousands of dollars.

You can charge $30-$100/hour to provide skip tracing services to banks – or even other repossession companies.  Of course, you’ll need to invest time and money in good training, but it’s well worth it considering you could make $60,000 starting out – without a degree!

Tip #3 – Become A Repo Job Broker

If you don’t like working nights and dealing with confrontational people, you could setup a web site to get repossession job leads in your town, and sell those leads to other repo businesses.  Then, as you gain more experience in the repo industry, you could take on more and more jobs yourself.

While these money-making tips are no substitute for having the right repossession tools, they’ll help you make money to pay for the equipment you’ll need later on!

Start a Dog Daycare Center

The busy life makes people crave for time. No one has time to take care of family members let alone the pets like dogs, cats etc. In this scenario people look for day care facilities for their pets. The requirement of dog daycare is increasing day by day, as owners do not want to leave their beloved pet alone at home. Therefore, the dog daycare business is having great prospects in the future. However, for those who want to start this business have many questions regarding starting of dog daycare center.

Dog daycare is more than about baby-sitting. Dog daycare deals with pet sitting involving multiple dogs, but with emphasis on proper care and attention. Since multiple dogs social interaction with other dogs is important, and handling different types of dogs is not an easy job. Dog daycare involves exercising, bite training, bathing, timely feeding, and playtime. What dog owners expect from a dog daycare is security, proper care, and pampering of their dogs when they are busy at work.

For those who want to start a dog daycare, it is very important that they have love for animals. First step for starting a dog daycare is to have a nice name for the firm. Then find a proper place to set up the business. If you have a large lot this could be your own backyard. Find sources for investment capital for setting up the infrastructure. There should be enough space in the building for indoor exercising. There should be enclosed yards for dogs to run around to socialize. There should be enough equipment for keeping dogs active as well as entertained while in day care. Numerous kennels must also be readied so that, non-socializing dogs could be separated from other dogs.

Once the infrastructure is ready get the required permits as well as licenses such as veterinary department permit, business license, fire department permits, etc. Then have training about dog care to make sure that the facilities and trainers are well equipped to handle the dogs. Dogs can be nasty at times especially among a group of dogs, so ability to handle any situation is necessary. Therefore, select the dog trainers with necessary qualifications in dog management, grooming and training for supervision of dogs, to ensure that the dogs are not bullying or becoming aggressive. The number of dog trainers should be relative to the capacity of the daycare center.

Setting up of diet service to cover the varying dietary needs of diverse dogs of age, as well as, breed is necessary. It is necessary to have access to veterinary medical services for the dogs in the daycare center. Cleaning service must be set up to keep the premises clean and clear of odours. There should be arrangements for dogs’ safety during rains and other natural calamities. Once these things are set, scale the charges for dog daycare services with your eye on recovering the investment and to cover the running cost. After that, advertise your dog day care to lure customers.

If this all seems like a lot of work, guess what, it is! But you can make it a more enjoyable experience by checking out the possibilities of franchising. Many very lucrative doggie daycare centers are already up and running and available for franchising. One such center is the DogSmith which has a unique setup and reputation. They can help you with all your questions and even some questions you would never think to ask. Buying a franchise is the best way to go because they also help with advertising and marketing your new franchise. This can be one of the largest costs after purchasing you franchise. So remember, franchising is the best kept secret of the 21st Century.

Intercepting the Digital Divide

"Today, high-speed broadband is not a luxury, it's a necessity." – President Obama, January 14, 2015.

Let's pause and reflect on what we have.

In some parts of the world we have GPS controlled drones and in the rest, we have around 3.6 billion people, who do not have regular access to the internet. These are the people who are terminally failing to get the benefit of the internet as an economic engine.

Digital divide is the gap in availability and access to information and communication technology (ICT) among individuals and communities. Numerically, this gap, ie people with no / limited access to computer or the internet, is three times the Indian population. The idea of ​​digital revolution cannot be achieved when 50% of the world population is excluded. In other words, this population can't compete on an equal footing in the labor market. The 'optimistic path' surmised by UN's Sustainable Development Goal 9 and Agenda 2030 also envision avant-garde industrial revolution dubbed Industry 4.0. As this industrial breakthrough is heavily dependent on the adoption of technological innovation, the population disconnected from this technological grid will be less informed and under-represented in the capital and labor market.

The ability to access computers and the internet depends on many interwoven factors ie, social, and economic dimensions. Nonetheless, the digital split can easily be bridged if these factors are broken down into specific action plans. Aside from these obvious barriers, the following would help narrow the gap:

Develop physical infrastructure: The Mason Analysis shows that the lack of proper infrastructure conducive to internet connection is more prevalent in the developing countries, especially in Africa. In this regard, key inputs such as development of terrestrial connectivity between the submarine cables, development of training centers and data module are perquisite to overcome the induction barriers of digital divide.

Promote investment and cooperation: The cardinal element to independent development of physical infrastructure is the liberalization of Public-Private Partnership (PPP) investment. Such a measure would boost investor confidence and could maximize the effectiveness of new investments conducive to financial and infrastructural resources. At this stage, policy remedy is required to lower licensing cost and high taxes on equipment and services. At the same time, integration of internet into the service delivery of government agencies and usage of communications infrastructure should also be highly prioritized.

Develop customized content: Developing physical infrastructure and providing training modules are not enough if local demand is not met. To welcome the next billion users, technologists need to deeply engage with local communities to understand their demands and ways to use this access. That way, internet and communications networks can be built to serve the demand. Responding to internet's actual demand is equally important as devising new schemes.

Less dependency on social media: Excessive indulgence into social media cannot help uplift the internet penetration because of its limited use. People can disregard the real power of internet penetration and benefit of usage if they are confined into the 140 characters on Twitter or the square boxes of Facebook profile. The challenge to adopt and apply the divergent tools of internet can be overcome if internet platforms and its hosting devices are used in smarter ways.

With its ubiquitous and inclusive presence, internet is the key to next-gen technological access. Realizing it, companies such as Google and Facebook are assessing the form factors of attracting more people online. Individuals, government, and corporations are equally responsible in bringing the mass people into the internet bracket. At the same time, the government should also have smart policy interventions to combat the handicaps brought by the usability divides and any other forthcoming obstacles for digital divide.