RandomBlog2011 | wealthymatters

Der Spiegel on Tulsi Tanti

March 11, 2011 4 Comments

Here are 2 articles on Green -Warrior Tulsi Tanti,one dating from 2008 and the second a few days back that appeared in Der Spiegel.Enjoy them.Tulsi Tanti might not be a media darling today but the man does have much to recommend him.These articles provide an insight into the mind of the entrepreneur who named his company Suzlon,’Suz’ from the Gujarati Suz-buz (intelligence)and ‘lon’, the Gujarati way of saying bank loan.

Tulsi Tanti’s Success Story

The Rise of Indian Wind Power

By Michaela Schiessl

Indian businessman Tulsi Tanti has built one of the world’s largest wind turbine companies in an incredibly short amount of time. Now that he has bought a German company, however, his popularity may be on the wane. Read more of this post

Filed under Entrepreneurship, Theory, Tidbits Tagged with Areva, Chikhli Satara, China, Dhule, entrepreneur, factory, Federal Supervisory Authority for Financial Services BaFin, Global Player, Green Energy, Green Warrior, Greman Engineering, Gujarati, Hamburg, Martifer, Midwest, Pondicherry, postaday2011, Pune, RandomBlog2011, Repower, Rostock, Sangli, Sudwind, Surat, Suzlon, Technical University of Berlin, Tulsi Tanti, Tycoon, United States, Vestas, wind farms, Wind Power, Wind Turbine

5 E-mail Tips for Newbie Entrepreneurs

March 11, 2011 6 Comments

Many entrepreneurs, especially first-timers take e-mail communication casually and in the process, hurt their own interests. Here are a few simple tips that will help show your business in a better light.

1.Stop using free e-mail for your business: If you want to be taken seriously, do yourself a favor :quit using free e-mail like yahoomail,g-mail,hotmail etc.for business.

Get your firm a domain name and use Google Apps or the services provided by your domain host to get a business-like e-mail ID.

Don’t be cheap here.Don’t go for free e-mail hosting.The inappropriate ads and security issues are bound to put- off a saint.

2.Make the subject line clear: Busy people want to allocate their time well. A clear title allows people to decide quickly on the importance and urgency of your e-mail.Avoid wasting other people’s time and they will think better of you.So take the time to write a good subject line.

3.Write actionable e-mails:There are two kind of emails. One that converts into actionable point , and the other that goes nowhere. Read more of this post

Filed under Entrepreneurship, Theory, Tool Kit Tagged with allocate time, domain name, e-mail communication, e-mail ID, e-mail tips, Entrepreneurship, free e-mail, free e-mail hosting, g-mail, Google Apps, hotmail, important urgent, newbie entrepreneurs, postaday2011, RandomBlog2011, read receipt, yahoomail

5 Financial Homilies To Reconsider

March 10, 2011 1 Comment

Financial advice always needs to be nuanced.What is good for one person in a certain situation many not be so good for another in a different situation. Unfortunately people are always looking for simple advice and rules of thumb.If we over-generalize on generally sane financial advice we can come to a sorry pass.

Here are some common homilies that need some reconsideration:

1. A house is always a good investment:A house is a tangible investment that you could potentially live in.You could rent it out and make some money.Maybe it will help you save tax.Maybe you could invest in one to save for retirement.Generally saving for a house to live in is good in that it gets a family to start saving.But at the time of buying a house it’s important to remember that you are buying a house and not a home.So do not go sentimental and over pay.Buying a house requires a deal of legwork and hard-headed thinking.Overpay and you will have to worry about the fluctuation in market prices.Try to buy an encumbrance-free house at a discount.It adds a greater measure of safety to your investment.Buy when the markets are down to safeguard yourself.Next how you pay for the house makes a big difference.Try to put down a large payment to save on the total interest you will pay.Shop around for a good loan if you need one.Read the fine print.Check if there is a penalty on prepayment.Lower rates matter.Also check if the interest is calculated on a declining balance.Check for hidden costs starting from the processing fee,the lawyer’s fee and structural engineer’s fee and insurance.When you consider the EMI you want to pay, don’t be too optimistic.Pay increments and bonuses might not come on time.Remember that over longer periods something is bound to go wrong.It’s the way of life.Also if you pay too much of your income into house payments you will not have any money left over to diversify into other assets and derisk your investments. Read more of this post

Filed under Theory Tagged with ATM card, bonus, cash, cheque, credit cards, debit card, declining balance method, derisk, diversify, down patment, EMI, financial advice, Financial Thumb Rules, free credit, hidden costs, home loan, Home Market Price, house, impulsive spenders, increments, insurance policy, markets down, postaday2011, pre-payment, pricessing fee, RandomBlog2011, retirement, retirement savings, safety, saving, scholarships, secured debt, speculators, student loan, tangible investment, tax advisor, taxes, unsecured debt

Life of a Solopreneur

March 10, 2011 Leave a comment

This post was originally posted here :http://www.pluggd.in/ekla-chalo-re-story-of-a-single-founder-solopreneur-297/.It gives a good idea of what it is like to be a solopreneur and do an Ekla Chalo Re.I like the idea of starting off immediately by onself without waiting for a perfect launch.After all, a lot of ventures fail but if you never start you can never fail much less succeed.Just contain the downside risk and maximize the upside potential and begin!But do read the story of Sumeet of Kreeo before you begin.

As an entrepreneur one must be focused on being successful whether as a team or single! What is most important is starting up and getting into execution mode rather than waiting for a perfect situation (team, funds, prototype, and customers). None of your dreams will come true if you just keep dreaming and planning. You can’t learn swimming without getting into water.

Coming to the dilemma of starting up as a team (one of the most important factor for getting funding also) or a single entrepreneur. I think it has no impact on the success of your venture. You will need a leadership team for sure but it’s not important to have it in place right from the start (VCs will tell you otherwise), a team can be formed as you move on (only if you don’t need VC money). Read more of this post

Filed under Entrepreneurship, Theory, Tool Kit Tagged with Cranes Software, Ekla Chalo Re, entrepreneur, funding, Kreeo, leadership, MBA Goa Institute of Management, mentor, NIIT, postaday2011, RandomBlog2011, Satyam, solopreneur, St Stephens, Sumeet Anand, team, VC

5 Habits of Financially Successful People

March 9, 2011 1 Comment

Here is a piece I found while surfing at Wise Bread.com wealthymatters.com http://www.moneymanagement.org/Community/Blogs/Blogging-for-Change/2011/January/Five-habits-of-financially-successful-people.aspx Check if you have the following criteria in place if you are serious about being financially successful.

What is the true definition of financial success? Although it varies from person to person it can usually include: the ability to pay bills without worry, being free of debt, and having enough money in savings for things such as emergencies, family vacations, retirement, college funds, and more.

Being financially successful is easier said than done. There are no quick fixes or magic formulas for achieving financial success. Financially successful people understand the difference between wants and needs and how to create clear financial objectives for achieving their goals. Below are five habits of financially successful people. Read more of this post