The Global Entrepreneurship Summit

The Global Entrepreneurship Summit is an annual gathering of leading and emerging entrepreneurs, promoters and investors from all around the world who come together to address the issues surrounding entrepreneurship as well as discussing innovative ideas to foster the growth of new companies. GES 2017 aimed to foster an atmosphere that empowered women innovators and enable them to raise their innovative ideas to the next level. The summit which lasted for two and a half days comprised of various networking and mentoring events as well as workshops. Many entrepreneurs were able to pitch their ideas at the summit as well as build as partnerships and get funding for their projects at the event.

Women First- Theme of Summit

The US delegation was led by Ms. Ivanka Trump, who is the advisor to the president of United States. Ms Trump while speaking at the summit highlighted the need for lifting barriers that restricted women from innovating and asked everyone to come together in order to allow women the freedom to innovate and empowering them to succeed. She affirmed that the economy and society of the various nations of the globe would reach its full potential only when women are empowered. The Prime Minister of India also made a speech during the summit where he highlighted the need for innovation and empowerment of women.

Indo-US ties strengthened during the summit

The summit which was the first in Hyderabad showcased the talent of Indian entrepreneurs and re-affirmed the respect they command in countries like USA and all over the globe. As Ivanka Trump mentioned in her speech, tech innovators from India are taking over the globe. Satya Nadella, an immigrant in the USA, from Hyderabad, has risen to become the CEO of Microsoft, while another tech giant Google is headed by yet another Indian immigrant Indian, Sundar Picchai. The GES summit which was attended by more than 1200 entrepreneurs over a period of two days also hosted many successful Indian immigrants who set up business in various parts of the world. The summit was a showcase of the innovativeness and intelligence of Indian immigrants who took the initiative to start over in a new country, while dealing with climate and culture that they were not accustomed to and made their mark on the economy and society of their new home

Business Expansion

Being an entrepreneur is an exciting way of life. Entrepreneurs are thrill seekers and look for ways to challenge themselves to grow as a business person as well as expand their business in profit, locations, and clientele. Even though this growth can be exciting, it can also be the best direction to take a business. It allows for a business to thrive and increase their brand recognition, offers a better service and product, and obtain a larger geographical market. When a business expands, they have an opportunity to dominate a market niche and reach economies of scale. Economies of scale allow for bigger businesses to have lower costs per unit and this, in turn, gives a larger fund to administration purposes like training employees and gaining new technology.

Risks of Expanding
Like anything you do in life, risks are always involved and can have a large impact on you or your business. Of course, expanding your business has risks or everyone who has opened a business would be trying to expand. The great part about risks is that you can study them and try to work around them by finding solutions. This puts you a step ahead when expanding because you can look at what others have done and learn from them and this can give you confidence for the future of your expansion. When looking at risks, it makes you plan and focus on the future of what your company could be. You must create detailed outlines of risks and outlines of the solutions. It keeps you organized and helps you stay on task when expanding. Even though you may organize, risks will still be very prevalent when expanding. To manage these risks, there are three easy steps to help lower the number of risks that may appear.

The first is once you have organized to stop risks, do your research. You’ll want to ask people what they want to see from you and if they have any input. Ask other businesses about their expansion to get an idea of how certain things will work. Also, read up on past expansion problems, and how they were worked around so they will not be a problem. The second is to find a trusted person to act as your advisor, or second hand. You will want someone who can help you with your decision-making process, as well as help you navigate through the expansion process. They will be able to help you to ask the right questions, and get the answers you want to hear. The last thing to do is implement the strategies you know are effective. You started your business, and it grew, now you have hit a plateau, but you can still implement old strategies on a larger scale to get where you want to go.

Strategies
There are many different strategies an entrepreneur could use to expand their business, but some of the top strategies are: increase your sales, market segmentation, and partnerships. Of course, increasing your sales seems obvious and easy but it is important to do it the right way and use the resources you already have in place. This may mean you must change your marketing strategy or use a larger location, but it will be your existing customer base you already have. Other ways to increase sales is to develop a competitive advantage, use content and social media marketing, and increasing your sales force. The next strategy is Market Segmentation. Market segmentation to many is a scary thing because people feel that you lose a lot of the market, but being able to focus on one part of the market allows you to focus on an exact customer and create a great start for growth. Market segmentation allows for companies to increase its competitiveness and customer retention and overall will increase the profit. The last strategy is creating a partnership. Partnerships allow businesses to use their resources to their advantage to compete with the larger companies. Let’s say that your company manufactures and sells baseball bats. With your technology used in creating these bats, your bats create more force and to not get worn down as quickly over time. The only problem is that you do not have a large manufacturing facility. You could partner with a baseball bat factory and wouldn’t have to pay any money for your own facility. You would just have to pay a profit of every baseball bat you sell back to the factory. This allows for you to get high dollar production and distribution but won’t have to spend money on your own facility.

Of these three main strategies above, there are many more that fall into these as subcategories. For example, to create a partnership to expand, one could also create an acquisition with another company. An acquisition is a process of a company buying most, if not all, of another company’s business to take control of. This will allow that business to gain cost reductions, greater market share, as well as have the opportunity to expand overseas.

Tips On Creation And Management

Closing a deal with another company for the transfer of goods for payment seems like it should be easy. However, when dealing with multiple moving parts in a deal exchange involving two different companies, it can be complex. More specifically, when creating a product that needs to meet a specific specification for resale or company use. That is why a contract is needed. Arrangements can be complicated and involve a lot of work. That is why I’ve comprised some tips on how to make your contracts as airtight as possible.

Airtight Contracts

1. Negotiate

This is where you don’t leave anything out, don’t hold your breath. Make your priorities and concerns known. Don’t move on to a different issue until the current solution is reached.

2. Document negotiations

Keep track of what everyone is saying. This is important when resolving conflict and creating solutions.

3. Be concise & detailed

You should be able to understand the contract with ease. You should cut any unnecessary words or phrases. The obligations of each party should be spelled out in specific language that doesn’t leave any room for mixed interpretation. Having a detailed product requirements and clear Statement of Work (SOW) for the project manager, will help confusion. If not, it will result in the organization not receiving the agreed upon product or services.

4. Include payment details

The objective of a contract is for the buyer to receive expected product while the seller receives payment. In many complex deals with multiple moving parts, the buyer can pay the seller along the way as milestones are completed.

5. Include Language on How to Terminate the Contract

This should be in the contract in the case that one party doesn’t uphold their end of the bargain. It will be easier to deal with these situations before they become real life.

6. Don’t start until it’s signed

There is no need to rush into a project before the contract is signed. This could lead to unnecessary work.

The Contract Team

When creating a contract, it is important to have the right people around you. Finding the correct stakeholders that will produce the product. In a smaller business this might only be the owner and another person, but in a large business, it can involve many different individuals. For example, a large company may have a project manager, engineering manager, manufacturing manager, financial manager or support manager. The objective is to find those managers that will speak honestly about being able to complete your contract specifics. Most importantly the schedule. How long will it take their team to create the product? The worst thing that can happen is not being able to uphold the project’s timeline.

The Product

After the client signs the contract, your project manager takes over. If the contract is clear and concise with the correct information to create a specific product, then the project team should have no problem with knowing precisely what they are supposed to produce. Some problems that will arise in the project process can’t be avoided but, with these tips, it should help avoid most.

Advertising Sky Balloons For Brand Promotions

Publicizing utilizing inflatables and different inflatables is another type of promoting. The thought regarding it originated from the prominent as of late wrapping promoting an approach to publicize in the open by wrapping items or making announcements. Yet, that is a to a great degree expensive technique, in the event that you get a kick out of the chance to include all ranges of a specific city. The option arrangement accompanied publicizing inflatables, which making is by and large very reasonable, notwithstanding for littler firms with direct spending plan.

The primary benefit from utilizing promoting inflatables originates from the cash itself. Promoting with inflatables costs close to 300$, not to check the beneficial outcome that inflatables convey to normal passers-by. Promoting inflatables are an interesting approach to pull in individuals’ consideration. Everybody likes inflatables, in light of the fact that they bring occasion and festivities, and having the name of your firm, administration or item on a cheerful inflatable will influence individuals to recollect the name itself. Publicizing inflatables are the ideal answer for organizations with medium or little measured promoting spending plan to participate in the opposition of winning the client’s inclination.

There are various types of promoting inflatables: publicizing inflatables or airships, custom inflatables, helium inflatables. Promoting dirigibles and inflatables are typically connected on a strong ground or fixing to a housetop, and they reach around 120 feet in tallness. Each inflatable has particular shape and size: some are the state of a man and have awesome size with the goal that they can be seen from a long separation. Each organization has its own particular gathering of reasonable promoting inflatables, and their size and shape shifts relying upon the solid needs. Some publicizing inflatables are topped off with icy air, and others with helium.

Another awesome favorable position of advertisingskyballoons is that they can be utilized for all intents and purposes all over, where individuals can walk and see them: in the city, on parades and appearances, in exchange focuses, almost a store of the firm itself. You can even give them a chance to free to glide indiscreetly noticeable all around. They can’t be neglected and definitely get individuals’ consideration. Publicizing zeppelins are indispensable on the off chance that you jump at the chance to drag the mass consideration. Their awesome favorable position is that they can be found in a separation, and they are impeccable if your store or firm is a long way from the swarmed city, on a forlorn interstate for instance.
skyballoons the state of a moving individual or character can be utilized as target objects for the engine vehicles in the city. Legitimately put, they draw the consideration without a moment’s delay. In any case, you must be cautious when utilizing them on blustery days, with twist speed more than 20 miles for each hour, else you hazard losing them. For your store or office, the perfect approach to draw in the consideration will be with promoting inflatables dangling from the roof.

Advantages Of The Accounting Software

When you select a quality On line Accounting Software framework it can truly enable you to spare a considerable measure of time contrasted with manual accounting. The bundle can at the same time process front end records and in addition back end exchanges.
For example, you can compose checks, make bank stores, and get ready client solicitations in the arrangement, and the product will record every one of the exchanges.

Helps in Keep Tracking you Business Finance

In manual Accounting, the vast majority of the work is done toward the finish of the money related year when the records are set up for organization and duty evaluation purposes. Be that as it may, with automated accounting, you can make and keep up money related records constantly and get top to bottom reports whenever you wish. This empowers organization administration to persistently screen the money related records of the business and resolve issues ahead of schedule before they expand into huge issues.

Management of profit and Loss

With Online Billing Software, you can record and track your payables and receivables. This empowers you to know your present and in addition future income status. For instance, you can enter your bills also client solicitations, and their due dates, and get savvy reports that will let you know whether your receivables are sufficient to pay your future bills. In addition, you can keep records of solicitations and bills which can help you to dodge late expenses and overdraft charges.

Easy Identification of Problems

Entrepreneurs for the most part don’t have sufficient energy to figure out how to utilize new Software. Luckily, with most driving Accounting Software frameworks the expectation to absorb information is short and simple. Along these lines, even lay clients can figure out how to utilize the framework adequately. This can limit compromise issues and Accounting blunders. Most driving merchants give sufficient preparing and client support to enable

independent companies to make successful utilization of their product. Manual Accounting expands the odds of blunders in count. You can maintain a strategic distance from this by deciding on which consequently plays out all computations precisely.
This is a major advantage particularly on the off chance that you have to plan point by point solicitations in which particular things or worked hours are charged at different rates.
Essentially pick the things for invoicing, enter the required information, and the framework will do rest for you.

Adaptable Solutions

Driving Accounting Software frameworks offer propelled highlights, for example, attractive databases and complex customization. Extending new companies and private ventures can choose these answers for meet their developing needs and requests.
Organizations that are extending in different nations, utilizing locally established representatives, and have customers in assorted areas can utilize cloud-based Accounting arrangements that can be gotten to whenever, anyplace, on any web associated gadget