All posts by Awfis Editorial

5 startups that are redefining rural India

Business Innovations, , ,

As we wait for Digital India to fully penetrate the rural parts of the country, there are startups that are empowering and facilitating the implementation of business opportunities for better quality of life across rural India. Technology is the key enabler, paving the way for enhanced productivity and growth prospects in the countryside. Here’s our pick of five startups that are redefining rural India:

NIRAMAI Health Analytix

A deep-tech startup based out of Bengaluru, Niramai addresses critical healthcare problems through automated solutions. An acronym for Non-Invasive Risk Assessment with Machine Intelligence, Niramai also means free from illness in Sanskrit. The company’s innovative software helps detect breast cancer at a much earlier stage than traditional methods or self-examination. The added benefits of the automated solution include cost-effectiveness, accuracy, portability and simplicity. What’s more, Niramai’s imaging method is radiation-free, non-touch, less painful, and works for women of all ages. It can be used as a cancer diagnosis test as part of preventive health check-ups, and also for large-scale screening in rural and semi-urban areas.

EezyNaukari

This Kanpur-based startup provides job seekers in rural India with work opportunities in the cities across the country. Since its inception in 2016, EezyNaukari has established its presence in over 500 villages in four states, handling the profiles of over 15,000 job seekers. As a tech-enabled platform, the objective is to revolutionise India’s recruitment process for the unorganised and entry-level jobs. The startup – founded by IIT-Guwahati alumnus Rahul Patel, along with Nipun Sareen, Hemant Verma and Mohit Sachan – scouts for skilled, unskilled and semi-skilled human resources in areas that traditionally don’t have access to equal career opportunities. After verifying personal details, work experience and skill assessment, the startup provides job aspirants with a digital platform to reach out to prospective employers.

Rural Odyssey

According to the World Bank, India houses the largest number of poor in the world: a staggering figure of 270 million people. Due to low-productivity agriculture in rural areas, employment growth is threatened accounting for nearly three-quarters of the poor population. In order to bridge the yawning rural-urban divide, Chandni Aggarwal and Kush Sharma started Rural Odyssey – a social enterprise that links avid travellers to authentic experiences at unconventional destinations. They hand-pick offbeat villages across India and promote their remarkable culture, music, crafts, art forms and much more. This not only helps generate revenue for the villagers, but also delivers authentic cultural experiences to curious travellers who want to explore the varied communities of rural India. Everything, from accommodation in the form of home stays to food, is planned and provided by the native community.

Maatritva

Started in 2016 as an internship project at the Digital Impact Square, a TCS Foundation innovation Centre in Nashik, Maatritva is a mobile platform that helps in the screening, identification and tracking of high-risk pregnant women to ensure that there is continuous care for both, the mother and the child. Given India’s maternal mortality and morbidity rates, the technology holds the promise of saving precious lives. One of the interesting features of the application is its QR code, which can be scanned to access all the information about each woman’s health and stage of pregnancy. The data helps to plot a graph to estimate the overall number of pregnant women in an area and their health status. Founded by a team comprising of Abhishek Verma, and Garima Dosar, the application is currently available in three languages i.e. Hindi, English and Marathi.

GoCoop

A Bengaluru based startup that connects weavers, artisans, cooperatives, and community-based enterprises with buyers, GoCoop was conceived as an online social marketplace by Siva Devireddy in 2005. It has been instrumental in helping handloom and handicraft cooperatives and artisans to market handmade, natural and sustainable products online to global consumers directly, thereby reducing cost, increasing efficiency, and transparency. The company’s mission is to create and support sustainable livelihoods for the nine-million-strong weaver and artisan community in India.  GoCoop is the winner of the first National Award for Handlooms Marketing (eCommerce) by Ministry of Textiles, Government of India.

Conclusion

The digital revolution has the power to transform lives and drive new narratives of growth, especially in rural India. And startups are at the forefront, breaking barriers and venturing into hitherto unexplored business terrains. Thanks to better internet connectivity and online infrastructure, the gap between rural and urban India is getting bridged, leading to a positive impact on societies, economies and lifestyles. Because as Mahatma Gandhi put it so evocatively, “India lives in her villages”.

The New Age Business Leaders’ Guide to New Year Resolutions

Business How To’s, , , ,

Come December, and the unmistakable buzz of the season is ‘New Year Resolutions’. It is that time of the year when many of us make plans to change for the better – both in our personal and professional lives. And business leaders are no exception to this tradition. However, as a new-age business leader, what should feature on your list of 2020 resolutions?

Here are our top picks:

Fail without fear

While risk-taking is part of the package in the world of business, start-ups and especially younger entrepreneurs are considered to be more financially fragile and risk-averse. New Year is the perfect occasion to bring about a change.

Every failure is but a disguised opportunity for learning and growth. Through creativity, trial and error, there will be subsequent victories. Let 2020 be the year when we fail without fear when we learn our lessons and chart new success stories.

Take radical responsibility

Every workspace has its own challenges. However, unconventional work environments call for progressive leadership qualities. Creating a harmonious and healthy work environment, particularly in the intimacy of a coworking set-up, demands radical responsibility towards clear and effective communication. This can be a small step towards changing the dynamics of your company culture.

By assuming radical responsibility, you take mindful action. As a new age business leader can you respect the strengths of the millennial generation, while also understanding their weaknesses? In 2020, let the emphasis be on productive discourses and constructive conversations. Unlike conventional offices, the open-door policy of a coworking set-up offers a fertile ground for a healthy exchange of ideas and robust professional relationships.

Foster learning

Complacency and disinterest are most frequently bred where there is a lack of learning, growth or active development. Success can only be guaranteed in a culture that fosters learning. So, it’s important to engage and retain employees with valuable programmes in relevant skills training.

In 2020, don’t just empower your company with tools and resources that they need to improve themselves, but also make them appealing. If you already have a programme, see if there are ways in which you can expand it further or make it more relevant to your team. The bonus? Invested employees and lower attrition.

Invest in self-care

Self-care is arguably the most under-rated leadership quality. Virgin Group founder Richard Branson says he finds kitesurfing therapeutic as well as a great way to stay in shape. In 2020, take inspiration from some of the world’s most successful leaders, by eating a life-enhancing diet and prioritizing regular exercise. Find yourself a physical and mental activity that enriches the quality of your life.

Sustainable leadership comes from the ability to take care of your own health. Whether it’s getting adequate sleep or taking up a sport to stay physically and mentally agile or taking a much-needed digital detox once a month in the coming New Year, new age leaders must lead by example. After all, a new age leader is someone who is versatile with his or her range of skills that go beyond official designations, hierarchies, geographies, and functions. It requires one to be at the front line of action to be able to foresee change, adapt and benefit from it.

In conclusion

We have kept the technology out on purpose. We know that new age leaders are tech-obsessed and that digital future promises to be the ultimate key for infinite scalability. However, we are looking beyond tech – because that gets updated regularly.

Happy New Year!

Why coworking is one of the best things that can happen to SMEs

Business How To’s, ,

When coworking spaces were first founded about a decade ago, the intent was to support independent workers within an organized set-up. However, over the years, this idea has progressed into a community space that encourages collaborative working for learning and growth.

Small and medium-sized enterprises (SMEs) are a crucial component of the economy, vital for its survival. And like a caped crusader to the rescue, coworking spaces have ensured an equal footing for SMEs in the face of competition from large businesses. Here are three important advantages that coworking spaces offer SMEs:

Scalability and agility

Coworking spaces facilitate quick changes in infrastructure scale to match business volatility. A majority of coworking spaces offer monthly rental plans rather than the long-term leases as offered by traditional office spaces. This monthly plan can be modified according to the performance of your business. You have the flexible option to upgrade or downgrade, i.e., increase or decrease the number of workstations you hire based on your needs.

Long-term leases are binding, cumbersome and not the ideal option for start-ups or SMEs. Without having to worry about such commitments, SMEs can focus on short-term rental expenses, on a month-to-month basis. When the monthly cash flow is not a fixed number, coworking spaces offer office space arrangements that can be adjusted as per your cash flow.

Hiring young talent

For most SMEs, hiring is a huge challenge given that they are not known brands, nor do they have the appeal of start-ups. However, coworking spaces help increase their accessibility, visibility and brand value for job aspirants.

The strategic location of most coworking spaces – often in Commercial Business Districts (CBDs) – help attract young talent who, typically, prefer the brand value of a big company or the exposure of a startup. That apart, coworking spaces with their cross-section of professionals also offer young job aspirants the opportunity to network. This unlocks the promise of endless possibilities for young professionals, who are inspired by the agile and collaborative environment at coworking spaces.

Cost-effectiveness

In an age where renting out furniture, household appliances and even clothes is commonplace, no one wants to pay through their noses for amenities. As far as coworking spaces are concerned, the most value comes from the provision of access to the amenities. The easy functionality of coworking spaces eliminate the need for SMEs to make large capital investments in terms of rentals, housekeeping and the like.

Included into the cost of many coworking space are the advantages of refreshments like coffee, tea, snacks, and office supplies. Additionally, the rental also covers use of costlier items such as printers, online platforms, and other utilities, which need to be upgraded quite often owing to technology changes. Therefore, when it comes to expanding your business operations to other cities and markets, you can simply hire professionals that operate out of a coworking space. This is far easier on the pockets than setting up a new office in a traditional commercial space.

Conclusion

The evolving workplace, in the form of coworking spaces, aid in providing the right resources and infrastructure for SMEs that account for nearly 40% of India’s workforce. With their philosophy of collaborative learning and work that nurtures productivity and creativity, coworking spaces create the perfect environment for business growth.

When mid-sized enterprises choose coworking

Business How To’s, , , , , ,

The adage of ‘two heads being better than one’ is the fundamental principle upon which the idea of coworking was built. The wise proverb may have had its origins in the early 15th century, in the days of the glorious Renaissance where the ‘Bottega’ system existed. Bottega, which roughly translates to the workshop, was the hub of innovation under the watchful eyes of master artists who were at the center of things. Artisans and craftsmen hobnobbed with painters, sculptors, artists, architects, mathematicians, engineers, anatomists, and scientists. They brainstormed together, exchanging ideas and perspectives, devising new artistic forms and techniques. Bottegas, like today’s coworking spaces, were the innovative and collaborative community workplaces of the Renaissance.

The winning premise

Businesses, whether small, medium or big, have people at the helm of it. And often, people find that they can benefit their business through healthy discussions, brainstorming sessions, collaboration and networking opportunities. It is this knowledge that has fuelled the growth of coworking spaces. The environment of a coworking space is created to inspire innovation and more. This global movement of the modern-day workspace, which initially seemed lucrative only for entrepreneurs, has attracted medium and large-sized corporations too.

It was just a matter of time before it became apparent that the benefits of coworking extended towards medium-sized enterprises as well. With considerably more capital, medium-sized enterprises saved big on the flexible, ‘amenities-packed’ and substantially cheaper rentals of coworking spaces.

The unfailing process

Like the famous bottegas, the process of innovation is three-pronged — facilitating dialogue, converting ideas into action, and convergence of diverse verticals on a mutually-beneficial platform. In a coworking space, almost every conversation has the potential to help make new clients, or generate interesting business ideas. The opportunity to sound off your ideas, and express your creativity makes up only part of the picture. In order for innovation to be successful, the ability to collaborate is also crucial, and it is this quality that makes the coworking space a game-changer. This culture of openness, which is conducive for innovation, also guarantees an acceleration in development. This involves networking with resources that are both within and outside of your organization.

In organizations, where established corporate processes are already in place – like in most mid-sized enterprises – the key is to facilitate change by fostering a more open, receptive and creative method of operating your business. The benefits that coworking spaces offer are not simply those that are tangible.  Along with the numerous financial and infrastructural advantages, there are also a host of other less tangible perks. For instance, inspired workspaces for young professionals that nurtures and promotes out-of-the-box thinking, new work practices and a fertile ground for innovation.

The bottom line

The effectiveness of coworking is evident in its success. With a growth rate of 24% annually, by 2022, as estimated by the Global Coworking Unconference Conference, we can expect to see some 30,000 coworking spaces and more than five million coworking members around the world. In India too, the demand for coworking spaces has been increasing at an exceptional scale. Not only among start-ups, but also among medium-sized enterprises keen to capitalize on the innovation advantage of coworking. Just like the Bottegas of the Renaissance period.

Should business leaders trust introverts to drive disruption?

Business How To’s,

If it is the fittest that will survive to the end, then as per the Biblical passage, the meek must be fit enough to earn inheritance of the earth. Throughout history, we have been witnesses to opposing – and sometimes ambiguous – blanket statements that have set the norms for social behavior and societal hierarchies.
Leadership is one such thing. Those who are in the position of leadership are looked upon for guidance, direction, and regulation. Successful leadership stems from a strong sense of confidence, which in turn leads to the ability to make key decisions for a group of people. But is there one size that fits all? Along with everything else, and especially in the face of the evolving, modern-day workspace, does this change too?
Challenge conventional thinking
As social animals, we have a tendency to equate capability or the ability to get things done with those who are extroverted. Extroverts seem more confident, energetic, engaging, and highly competent at bringing people together. In a workplace setting, and specifically in the area of disruptive innovation, assertiveness plays an important role.
However, perhaps, it is the traditional identities that need to be disrupted. While being farsighted and performance-driven will always remain relevant, leaders should consider and selectively adopt new identities. According to a thought-provoking research conducted by Adam Grant at the Wharton School, introverted leaders tend to deliver better results. This is because as team members introverts are more likely to participate proactively, and in leadership positions are far more lenient.
Extroverts, on the other hand, are more prone to seek control, which ultimately hampers the potential of the project. Introverts may not fare as well as their more talkative counterparts at pitches, or when it comes to the big-ticket presentations. But, their tolerant and accommodating attitude is conducive to innovation.
When we take a broad view of history, the most innovative people in any field are those who work in solitude. Introverts with their insightful and methodical approach are likely to fare better with data crunching, and data-backed discussions.
The big picture
In any team, it is the strength of the common goal that can inspire and motivate individuals. Introversion or extroversion only dictates the process of working that an individual may adopt based on his or her personality.
Effective leadership lies in finding ways to create unlimited potential with limited resources. That means, to be disruptive, you don’t need to advertise a personality-specific job vacancy or even disrupt your core offering. Business leaders must simply combine utilizing the right resources, along with simple applications, to bring about disruptive innovation. If you want to successfully challenge established businesses, the focus should be on building a unique business model for the market.
To do this, what businesses need are committed teams that can work well when thrown in together. However, brainstorming sessions in groups are viewed as less productive than when individual team members work alone, and then pool in their ideas. Why? This is because such processes bring about a sense of balance within an organization. This balance makes room for both introverts as well as extroverts, allowing both opportunities to foster excellence in an environment that suits them.
When companies create such a system of balance, growth becomes holistic. Through an equal amount of personal and professional development, every team member is empowered to tap into the diverse potential within themselves as well as those around them. And, yes, introverts can drive disruption.

The 5 Pillars That Define a Modern-day Workspace

Work Life Balance, , , , ,

In a world that is increasingly becoming more connected, only businesses that leverage the emerging ecosystems can stay relevant. For businesses to thrive – not just survive – in this competitive environment, it’s important to embrace the changing realities at work. With the contemporary rules of work, a coworking space could well be the conduit that germinates a good idea, giving it wings or wheels. The Awfis centre located at Sreshta Marvel in Hyderabad is a fine example of such a modern-day workspace. Here’s looking at the five pillars that support the making of successful modern-day workspaces:

Driving the spirit of innovation

 * Location
As cities expand in all directions, location is a vital factor that cannot be over-emphasised. Since attracting the best talent is key for small and medium-sized enterprises (SMEs) to stay ahead of the game, having an office in a strategic location is often critical to success; such a location offers easy commute as well as a business address that’s synonymous with ambition. The latest Awfis centre at Sreshta Marvel, in Gachibowli, Hyderabad meets the ideal location parameters and offers a prestigious business address which also serves as a window into the business’s vision for growth among potential clientele.

With its 200+ workstations at reasonable and flexible rental charges, located strategically in the heart of Hyderabad, the Awfis centre’s fully functional offices with hi-tech infrastructure invite a diverse workforce. The area isn’t just home to some of the city’s best IT and corporate parks, but also offers ample of recreational opportunities for professionals. This promotes interesting collaborations, networking and business opportunities between uniquely skilled individuals.

*Work-life balance

The nature of entrepreneurial work, whether you are working independently, with a start-up, or a mid-sized company, demands that you have a dynamic and flexible schedule.  Therefore, it becomes important that offices factor in this need for work-life balance or even better, work-life integration.

Ingrained in Awfis’s brand ethos, which is ‘Where work meets life’, the Gachibowli coworking space offers such a unique work environment by offering a sense of quiet as well as the opportunity to unwind with various formal and informal events. In fact, the collab zone is a dedicated area designed for professionals to come together and not just ideate, but also unwind together. It is often used to host community experiences, retail popups, festive celebrations or simply for networking within the community. Further, the centre’s location makes it plausible for professionals putting in long hours to step out for recreation and relaxation without losing precious time on commute.

* Design Philosophy

Conventional office spaces that house single organisations invariably suffer the brunt of hierarchy, isolation, and low self-motivation levels. On the other hand, community working promotes harmonious co-existence and collaboration opportunities, facilitating professional growth. Individuals thrive when they have an elevated work experience and exercise a degree of autonomy, essential qualities for a modern organization to succeed at fast decision making and agility.

Therefore, the centre is designed in a manner that individuals have equal access to both – a sense of privacy and quiet as well adequate interaction areas for discussions and inspiration.  It features functional seating plans, armed with contemporary work stations as well as a thoughtfully designed collab zone, cabins and meetings rooms. Bright, uncluttered and spacious, the coworking space adapts to the millennial mind-set. Sound-proof meeting pods on the other hand ensure adequate privacy for those one-on-one undisturbed conversations.

* Aesthetics

Aesthetics also play a key role in defining the energy of any work space and subsequently, those who work there. The Awfis centre is based on inspiration drawn from warehouse-type architecture known as industrial chic. The use of raw wood, industrial light fittings, Brooklyn-glazed partitions, texture paint, etc. create a mood that’s synonymous with collaboration. There’s ample storage space to eliminate cluttered work tables. The fixed desk spaces and premium cabins offer pedestal storage, white boards and pin-up boards, while flexible desk spaces are spread across the vibrant community table setup. Low-hanging bulbs adorn the ceilings, complementing the earthy hues of the mustard and grey interiors.

  * Products

Agile businesses demand access to state-of-art technology and infrastructure facilities, such as high-speed WIFI, video projection, video conferencing, high speed internet, laser printing and the like. The option to work beyond conventional office hours are the other vital demands.

 

Entry into the Awfis premises is allowed only through Near-Field Communication- (NFC) based access cards. This allows each member to work without any disruptions, and conveniently at the pace they choose. Just-in-time booking through the Awfis mobile app makes it easier than ever before to book the coworking space. What’s more, all members get access to the Awfis Rewards program. As South Asia’s largest co-working space, AWFIS is committed to delivering impactful and memorable coworking experiences.

 

Conclusion

Change is inevitable, but progress is not. Coworking spaces are paving the way for informal work environments that facilitate maximum productivity and nurture a learning-rich community of modern professionals. Because work should be a pleasurable activity, not a chore. Only then, can those great ideas translate into remarkable realities.

 

If you are looking for such a coworking space in Hyderabad, browse through the Gachibowli Awfis centre here.

The Rags-to-Riches Story of Jack Ma

Inspiring Stories, , ,

We’re just two months away from entering a new year. And if you are looking for some inspiration to chart your journey into 2020 as a business leader par excellence, this is the story you want to read. Learn how Jack Ma, co-founder of the Alibaba Group, didn’t just dream big, but made it happen. He has rewritten the rules of the e-commerce game, become ‘China’s richest man’ and has gone on to become ‘the most flamboyant tech founder on the planet’.

Jack Ma – A man with great emphasis on learning

Born Ma Yun on 10th September 1964 in Hangzhou, China, Ma worked as a tourist guide for nine years so that he could practice spoken English. Interestingly, it was an American tourist who nicknamed him Jack when they were pen-pals. Although he was Head of the Student Council in school, college was not easy. He struggled to obtain his degree and then enrolled himself at a teaching institute to become a lecturer in English at Hangzhou Dianzi University.

 In 1994, Ma started his first company, Hangzhou Haibo Translation Agency. The following year, he visited the US with his friends for a better understanding of the World Wide Web. There he realised that China and Chinese products found no mention on the internet. This motivated him to start his second company, chinapages.com, which he registered in the US. In three years, the company earned about USD 800,000!

The birth of Ali Baba – A global inspiration

For the next few years, Ma headed an IT company established by the China International Electronic Commerce Center, a department of the Ministry of Foreign Trade and Economic Cooperation. He quit in 1999 to return to Hangzhou with his team to found Alibaba, China’s answer to Amazon. Ma firmly believed in an open market economy that caters to customer needs. Soon, his company revealed the mega potential of small and mid-sized (SMEs) businesses across the globe. In 2014, Alibaba raised USD 25 billion, the largest initial public offering in US financial history to become one of the world’s most profitable technology companies.

The rejections en route – A tale of extraordinary perseverance

Ma’s parents worked as musical storytellers and growing up, he had little exposure to the world of business. Life threw him his fair share of rejections and failures, teaching the entrepreneur important lessons in patience and perseverance. His first tryst with failure was during college graduation, when he could not succeed in clearing the Chinese entrance exams until his fifth attempt!

He applied 10 times to Harvard Business School; he was rejected every time. Ma also applied for 30 different jobs, including one at KFC, but failed to hear back from any of them! The failures only strengthened his tenacity and will to succeed. Today, he inspires people with his stories urging them to remain steadfast in the face of obstacles. An entertainer at heart, Ma enjoys singing and dancing. Did you know that he made his acting debut in 2017 with a Kung Fu short film?

 The richest man in China – More than a serial entrepreneur

Four years after Alibaba received the USD 25 billion funding, Ma announced his plans for retirement as Executive Chairman to pursue educational work. He is seen as a global ambassador for Chinese business, and a role model for start-ups.

As of October 2019, Ma is one of China’s richest men, with a net worth of USD 37.9 billion. He also featured in the Forbes’ list of World’s Most Powerful People and World’s Greatest Leaders. However, he remains frugal in his daily life, with humble hobbies like meditation, reading and Tai Chi.

In 2015, he launched Alibaba Hong Kong Young Entrepreneurs Foundation to support entrepreneurs in Hong Kong. The same year, the company funded the rebuilding of 10,000 houses damaged by the earthquake-hit in Nepal. This year, the Foundation launched the Netpreneur initiative that grants a million US dollars each to 10 African entrepreneurs annually, and launched a fund with USD 14.6 million to develop education in Tibet.

7 Board Games to Hone Your Leadership Skills

Business How To’s,

Unconventional workspaces can boost creativity, and have you looking forward to Mondays. What if we told you that you could up your leadership game by simply indulging in some fun evening games? The world of gaming requires focus and undivided attention.  Imagine if you could harness this same level of dedication and apply it to solving real problems at work, developing products or services or simply learning a new skillset.

Here’s how you can simply press play on the following board games to enhance your leadership quotient at work.

Power Grid

Train your mind to see the big picture with Power Grid, the English language edition of the multiplayer German game called Funkenschlag. Each player in the game represents a company that owns power plants to supply electricity to cities. It tests you on parameters like how well you use the available resources. The game helps players hone important skills to sidestep hasty and wasteful decisions, which can cost the business dearly.

Risk

Invented by French filmmaker Albert Lamorisse, Risk is one of the most popular board games of all times. It assesses the players’ diplomatic skills as they form alliances with other players in a bid to expand their political territory. No man is an island, this is especially true at a workplace with multiple minds, opinions and ideas. Develop your professional relationship-building skills to organise a collaborative, harmonious team that works towards a common goal.

Agricola

Learn to become a masterful juggler, finding your expert balance and rhythm with Agricola. The focus here is on a middle-of-the-road strategy. Players are farmers (like in the popular social network game Farmville) who tend to their fields, sowing, ploughing, collecting wood, building stables for their animals, and expanding their farms to feed their families. Narrow vision is penalised, balanced approach rewarded.

Pandemic

Are you a good team player? Pandemic will help you find out as you discover cures for diseases that threaten mankind with extinction. Victory in this game (which seems straight out a Robin Cook novel) depends on cooperation rather than competitiveness. As you don the roles of a dispatcher, medic, scientist, researcher, operations expert, or quarantine specialist, the game will test your ability to negotiate effectively and put yourself in someone else’s shoes.

Chess

Pure tactical brilliance and competent problem-solving – these are qualities that define a great leader. And there’s no game like Chess to help you hone those skills. Believed to have been derived from Chaturanga, a 7th century AD Indian board game, this popular board game teaches you to make the right moves to tap into lucrative opportunities. After all, a worthy leader is someone who can predict his opponent’s strategies and goes in for the kill. Checkmate!

Cashflow 101

Cashflow 101 is perfect for all start-up owners, especially self-funded ones. It will teach you important lessons in financial accountability. Buy, sell, invest, and raise your monthly income to accumulate a cash flow of $50,000. Financial statements replace conventional score cards so you know where your money is going. Sound financial planning is the key to success – in the game as well as at work.

Rubik’s Cube

This 3-D combination puzzle – named after its inventor Ernő Rubik, Hungarian sculptor and professor of architecture – was originally advertised as having over three billion combinations with only one solution. Rubik’s cube helps you analyse your response-rate to problems. Do you resolve obstacles calmly by identifying step-by-step solutions? This is a great game to train your mind to think like a leader.

To sum up

These board games are an entertaining way to hone leadership qualities that’ll help you become a game changer at work. How about introducing a fortnightly game night at office? Besides being great stress-busters, these are effective tools for team-building too. Without further ado, let the games begin!

5 Mental Health Hacks for Entrepreneurs

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The contribution of entrepreneurs to a society’s growth, both socially and economically, is unparalleled. And yet, recent studies by Michael Freeman, an award-winning journalist, have revealed that entrepreneurs are 50% more likely to report having a mental health condition. While there is a lot of debate going on around the topic of mental health, it is still treated as a secondary issue. How many times have you taken a day off because you weren’t in the right state-of-mind? You would most probably reject it as a lame excuse, right? The same cannot be said of a gnawing back pain, though.

While it is totally understandable that your job as an entrepreneur is riddled with stress and burn-out, ignoring them is never the right solution. On the contrary, it may lead to chronic conditions that does no good to anyone. Well, fret not; here are 5 mental health hacks that can help you enjoy a fruitful work life.

Build mental resilience

People generally view entrepreneurship as a cool job; you’re your own boss, after all! However, no one realizes the amount of responsibilities that comes with the job. Running a business is tough and may get to you at some point. This is why, it is extremely important to understand right from the beginning that entrepreneurship is much more than just having an optimistic outlook. You must be ready for all the failures and setbacks that are part of the entrepreneurial journey. Don’t be afraid of making mistakes at any stage in the journey. Patience and focus are crucial in dire situations, and only a strong mind can give you the emotional stability to stay put even when nothing seems to be going your way.

Involving in constructive hobbies can help you build mental resilience and cultivate an attitude of taking things in your stride. So, the next time you feel overwhelmed, just switch off and tend to your backyard garden.

Identify the stress triggers

Anxiety and depression are common outcomes of extreme pressure, and they are not to be taken lightly for they have the potential to shut you off to your job and even yourself. You might sometimes feel a compulsive drive to get things going, unfortunately at the cost of relationships and health. Also, irregular eating and sleeping habits and losing touch with friends because of work may seem natural, but they can very well be the early signs of impending mental health issues.

Hence, it is crucial that you proactively identify the triggers that leave you stressed and anxious. Once you have put a finger on the triggers, find out ways around them. For example, if working on complex reports is what triggers anxiety, allocate a time of day when you’re in a relatively fresh state of mind and don’t have too much on your plate, such as in the morning. Take breaks or even sabbaticals. If need be, seek professional help. Understand that there’s no shame in admitting that you can’t take it anymore.

Manage your workload effectively

Managing deadlines and dealing with unpredictability at work are two of the biggest causes of stress, as your success depends on how effectively you manage them. As an entrepreneur, you juggle a lot of things and sometimes, it may all seem too much to handle.

Therefore, you should understand the importance of working smarter, instead of harder. Prioritizing your goals, assigning small tasks to each goal, and scheduling them properly can make things a lot easier. For example, set out two days in a week for all your meetings, so you don’t end up wasting precious time in the logistics of it all, which is mostly unproductive. Also, efficiency is something that entrepreneurs live by. So, investing in solutions that can automate most of the menial work can help a lot.

Nurture a support system

Entrepreneurship is nothing short of a roller-coaster ride with as many lows as highs. Failures and setbacks are part and parcel of the trip. And most of all, it is a lonely job – of course, you have a team to support you but the brunt of it all is eventually yours to bear. This is why it is incredibly important for you to have people you can fall back on. It can be anyone – your wife, parents, friends, mentor, or even colleagues. Just make sure you don’t hesitate in reaching out to them. Conversations and dialogue have always proven to be the best solution to dire situations.

Take out time for yourself

In addition to being your own boss, don’t forget that you are also your best friend. Entrepreneurship is a demanding job, no doubt, but that doesn’t mean you don’t give time to yourself. It is as important to invest in yourself as in your business.

Exercising and eating healthy can have a positive impact on your mental health. Ensure that you do something every day that makes you happy, be it reading, watching movies, or exploring new places – whichever suits you. Get involved in projects outside of your work – it can be anything, from cooking and cleaning your room to being involved in outdoor activities like football or trekking. Just make sure you enjoy the process more than the results and, most important of all, give yourself the room to make mistakes. It will keep you motivated and certainly help you deal with stress and anxiety.

Conclusion

Being an entrepreneur takes a lot of passion and commitment, and along come incredible amounts of stress that can affect your peace of mind. There is so much at stake; therefore, taking care of your mental health is crucial. After all, if you are not fit, the health of your business is also bound to take a hit.

5 TED Talks to Fuel Innovation

Business Innovations, , , ,

Innovation is the key to progress, especially in today’s hyper-connected world where original ideas are revolutionizing the way we live and interact. But where do good ideas stem from? Is there a secret to unleashing great ideas? These 5 stimulating TED Talks try to decode the key to innovation.

Where good ideas come from – Steven Johnson

“Chance favours the connected mind” – Steven Johnson.

People often credit their ideas to individual “Eureka” moments. But do ideas just come out of nowhere? Or is there a hidden pattern behind it? Steven Johnson, an acclaimed author, takes us through a fascinating tour through the corridors of history and science to come to a somewhat conclusive evidence of the origins of a great idea.

From how Britain’s first coffee house gave way to The Enlightenment to how the Sputnik led America to invent the Global Positioning System, Steven unravels how places bustling with people are often idea incubators. Bouncing one intriguing anecdote after another, Steven Johnson keeps you hooked with witty and profound one-liners. But that isn’t all this TED Talk is about; underneath all those anecdotes, we’re sure you’d find enough inspiration to stimulate your grey matter.

The surprising habits of original thinkers – Adam Grant

“Take the initiative to doubt the default” – Adam Grant.

What do original thinkers do different from the rest of us? Organizational psychologist, Adam Grant, analyzes the minds of original thinkers (or originals, as he likes to call them) in this witty TED Talk. He defines originals as people who not only have new ideas but take action to champion them. He classifies their habits into three categories:

  • Originals are moderate procrastinators
  • Originals feel doubt and fear
  • Originals have a lot of bad ideas

He takes us through various experiments he conducted to understand the creative mind, while also relying on historical figures to prove his point. He uses the fact that Da Vinci worked on the Mona Lisa on and off for 16 years to explain how creativity doesn’t happen in an inspired moment but involves a lot of hard work and self-improvement. The TED Talk is filled with cheeky humour and myriad inspiring stories that will motivate you to buckle up and work on that great idea you had rejected long back for whatsoever reasons.

The secret to great opportunities? The person you haven’t met yet – Tanya Menon

“To truly widen our network, we’ve got to fight our sense of choice” – Tanya Menon.

We all reside in narrow social circles and gel with people we feel comfortable with. But Tanya Menon, a management guru, opines that this is what limits our chances of exploring something great, something that may transform our perspectives. It makes sense when you look at it like this: how many of you have got a job through a close friend or relative? Not many, right? “Your weak ties, people you met just today, are your ticket to a whole new social world,” Tanya explains.

The TED Talk is refreshingly interactive and very insightful. Tanya goes on to give tips and tricks of how to maintain an active network of weak ties that opens up a whole new world of opportunities. Watch this TED Talk to unlock the power of fostering meaningful relationships with relative strangers.

Creative problem-solving in the face of extreme limits – Navi Radjou

“When external resources are scarce, you have to go within yourself to tap the most abundant resource, human ingenuity” – Navi Radjou.

Jugaad or frugal innovation is what Navi Radjou, a leadership and innovation advisor, talks about in this incisive TED Talk. He defines frugal innovation as the ability to create more economic and social value using fewer resources. He then goes on to give tonnes of examples of frugal innovation from all over the world – from telemedicine centres in China to M-Pesa and M-KOPA solutions in Kenya.

But that isn’t what his talk is all about. Navi Radjou gives three principles that he gleaned from his study of frugal innovation across the globe:

  • Keep it simple
  • Don’t reinvent the wheel
  • Think and act horizontally

The TED Talk has a wealth of knowledge to offer in terms of challenging traditional approaches to innovation; after all innovation has always been about defying traditions. Watch it not just for the insights it offers but for the beautiful way Navi Radjou blends resource constraint challenges with innovative problem-solving techniques.

How boredom can lead to your most brilliant ideas – Manoush Zomorodi

“Know that by doing nothing you are actually being your most productive and creative self” – Manoush Zomorodi.

Do you sometimes have your most creative ideas while folding laundry, washing dishes, or doing nothing in particular? It’s because when your body goes on autopilot, your brain gets busy forming new neural connections that connect ideas and solve problems, explains Manoush Zomorodi, a renowned journalist and author. She quotes several researchers, psychologists, industry leaders, and her own independent experiments to show how boredom can act as a catalyst to creativity.

The real strength of this TED Talk lies in the fact that it is filled with extremely relatable and light moments that give way to something epiphanic. So, the next time you use your phone to distract yourself, think again – you may be limiting your most valuable quality for the sake of killing time!

Conclusion

We all feel that innovating is a tough and demanding job and yet, ironically, it is everywhere. Well, either we’re witnessing a mirage or innovation isn’t as tough as it seems. These TED Talks certainly tend to emphasize on the latter. Who knew all you needed to come across that brilliant idea was boredom, chaos, and moderate levels of procrastination in the face of excruciating challenges?