Industrial Co-Operatives

Twin Pines, the international symbol for cooperatives (Photo credit: Wikipedia)

INTRODUCTION

In 1904 the then British Government passed the Co-operative Credit Societies Act.

The object of the Act was to encourage thrift, self-help and co-operation amongst persons of limited means and increase their productive capacity and financial resources. 

Funds for industrial co-operative societies are available from co-operative banks and private entrepreneurs.

Government provides subsidies, grants-in-aid and loans for the purchase of machinery, equipment, raw materials, etc.

DEFINITION

An industrial co-operative is an association of workers & craftsmen involved in cottage or village industries, who come together to undertake collective production, processing & marketing of goods manufactured by the members & provide them with the necessary services & assistance.

What is Innovation?

Innovation (Photo credit: Wikipedia)

Innovation is the creation of better or more effective products, processes, services, technologies, or ideas that are accepted by markets, governments, and society. Innovation differs from invention in that innovation refers to the use of a new idea or method, whereas invention refers more directly to the creation of the idea or method itself.

Making the ordinary – EXTRA ORDINARY

Making the extra ordinary –
Accessible, Available, Affordable

SMALL is big and LESS is more

Imagination is more important than knowledge

3A’s of Extra Ordinary

 Accessibility

Availability

Affordability

Some Advice to Entrepreneurs

Managing your psycho-dynamics

The emotional ups and downs, the energy that one feels from inside and sometimes one has to pump from outside, and managing that energy is part of an entrepreneur's psycho-dynamics. It plays a very big role in making or breaking an entrepreneur.

Listening to your inner voice

One can end up making wrong choices to a point where he can stop recognising his own motivations.

Have enough gurus

No one person will be full of vision and the world today is so complex that one single person cannot help face the ups and downs of entrepreneurship.

too many gurus can make one go mad listening and following everybody's advice and suggestions.

Ideally three to four people as gurus should settle the matter

Eventually giving it up at an appropriate time.

Two Reasons

One for the enterprise’s growth and evolution and

Second for entrepreneur's growth and evolution.

Traits and Leadership Qualities should be in an entrepreneur

•          Visionary

•          Persistence

•          Hard worker and good in Networking

•          Innovative

Doing Business in India

India Gate (Photo credit: Wikipedia)

Why Do Business In India

·         Strategic location having access to the vast domestic and South Asian market.

·         One of the largest pools of skilled English speaking manpower i.e. scientists, engineers, technicians and managers in the world available at highly competitive costs.

·         Policy environment that provides freedom of entry, investment, location, choice of technology, production, import and export.

·         A long history of stable parliamentary democracy.

·         A large and rapidly growing consumer market.

Establishing a Business Presence In India

o    Foreign investors can directly set up operation in India through the following routes:

·         Liaison office / Representative office

·         Project office

·         Branch office

·         By Establishing an Indian entity

o    Wholly Owned  Subsidiary

o    Joint Venture with an Indian  Company

·         Other routes

All about Network Marketing

Ban_pyra.gif (No to network marketing). (Photo credit: Wikipedia)

Prominent Network Marketing Firms in India :

1.       Amway India        
2.       Sunrider India        
3.       Forever Living        
4.       Modicare
5.       AMC Cookware       
6.       Oriflame India  
7.       Hindustan Lever Network     
8.       Herbal Life    
9.       Avon Beauty     
10.   Direct Educational Technologies       
11.   Daehsan Trading India                 
12.   Tupperware India        
13.   PS Press Service 
14.   Douphin touch network
15.   RCM Business

Statistics : from US$ 33.32b to US$ 100b (approx.) Growth of almost three times (in last two decades) In India, the direct selling industry is estimated to be around worth of Rs.2,400 crores. *References have been taken from information sources of FEDSA (World Federation of Direct Selling Associations), IDSA (Indian Direct Selling Association) 

The 7 great lies of network marketing :

1.       Everyone is a prospect

2.       We’ll build your business for you

3.       This isn’t marketing we are just sharing products

4.       Anyone can do this

5.       We have the best product ever

6.       You just don’t have enough belief

7.       Proven system 

Top 5 Reasons People Fail :

Leadership Styles

What is a Leader?

A Leader is someone in authority to lead others to accomplish a goal(s).  A leader needs to be able to motivate others to accomplish a goal(s) while at the same time encourage others to work toward their own professional goals.

3 Styles of Leadership

Autocratic

·         Authoritarian    

·         Tells employees/students what they want done and how to do it (without getting the advice from others).

·         Works well if you don’t have much time to accomplish goals or if employees are well motivated.

·         Generally, this style is not a good way to get the best performance from a team.

Democratic

·         Participative style

Goal Setting Activity

We will now play an interesting game. It is one goal setting activity. I believe this game will change your life.

Take out a piece of paper. Draw a picture of what your life looks like ten year later.

Use Your Imagination and visualize your future.

Use your imagination and draw the details as clear as possible. For example, if you want have an office, paint the color you want and the model you like.

Think of your future ten year later. Your future vision is in your mind and draw it on the paper.

If you can't draw well, don't worry about it. You may find a picture you want from the magazine or from the Internet.

When you have finished drawing, stick the picture on the paper.

This is a good method for you to relax too. When you are alone and no one can disturb you, dream what you want in life and draw it.

You can do this at home when everything is quiet. And sit on the floor or chair. You can even go out and sit on the grass if you like. Just make yourself comfortable.

Be bold to dream. It can be the images that you are winning, or your slim body, things that your dreams for every day.

When you have finished the picture, you may put it on the wall, maybe in your bedroom. So you can see it often.

Characteristics and Skills of an Entrepreneur

Entrepreneurial Characteristics

Not everyone wants to be an entrepreneur and run their own business. Being an entrepreneur requires specific characteristics and skills that are often achieved through education, hard work, and planning.
Risk Taker
Businesses face risk. Entrepreneurs minimize risk through research, planning, and skill development.
Perceptive
Entrepreneurs view problems as opportunities and challenges.
Curious
Entrepreneurs like to know how things work. They take the time and initiative to pursue the unknown.
Imaginative
Entrepreneurs are creative. They imagine solutions to problems that encourage them to create new products and generate ideas.
Persistent
True entrepreneurs face bureaucracy, make mistakes, receive criticism, and deal with money, family, or stress problems. But they still stick to their dreams of seeing the venture succeed.
Goal-setting
Entrepreneurs are motivated by the excitement of staring a new business. Once achieved, they seek out new goals or ventures to try.

Seven Great Qualities of Successful Entrepreneurs

Starting own businesses can be a life-changing decision - full of great potential risk and great potential reward. So to be successful, an entrepreneur must possess certain qualities.

Here are 7 great characteristics successful entrepreneur always ensure while pursuing of big business dreams.

1.  Common Sense
2. Specialized Knowledge of your field
3. Self-confidence
4. Ability to get things done
5. Creativity
6. Ability to lead
7. Self-reliance

20 Skill Or Traits That Are Generally Regarded As New Business Start-Up Skills

business leaders (Photo credit: squareintheteeth)

Interpersonal relations (Photo credit: Wikipedia)

i. Agility

ii. Confidence

iii. Courage

iv. Creativity

v. Decisiveness

vi. Self discipline

vii. Good judgment

viii. Flexibility

ix. Hard Worker

x. Leadership

xi. Multitask effectively

xii. Networking ability

xiii. Objectivity

xiv. Openness to new ideas

xv. Political Savvy

xvi. Resilience

xvii. Self-starter

xviii. Interpersonal skills

xix. Risk tolerance

xx. Visionary