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Interviewer: What Eventus' all about ? Mr Vishal: Eventus is an IT healthcare company providing logical solutions to everyone from the largest functioning hospitals to small scale clinics. For the latter, Eventus provides, among other services, an online based booking platform that not only guarantees greater satisfaction but also greatly aides management difficulties. For hospitals, Eventus provides solutions and services relating to IPD and OPD works, along with other institutional advice. The company was established in 2014 in Noida by Mr Siddqui. Interviewer: What are the company's current course of action ? Mr Vishal: Since the company has quite a streamlined focus targeted at purely medical insitutions and with providing them logical solutions, Eventus continues to market itself amongst the vast Indian medical market, while trying to find partners that can help the company spread pan-India. Interviewer: What advice for young entrepreneurs, if any ? Mr Vishal: Persistency and consistency are the two words that must define the journey of any vying entrepreneur no matter the circumstances plaguing their path, and should be kept in mind as guidances.

Interviewer: What Endosys is all about ? Mr Sridhar : Endosys is a manufacturer of sterlising equipments and services, the likes of polymer trays and plasma stablisers for wider use. The company is one of the primary suppliers of the above stated products in the domestic market, manufacturing them in Chennai, where the company's still based out of, 15 years on from its established by Mr Shantaram. Interviewer: What are the company's current course of action ? Mr Sridhar : Endosys is currently attempting to find a greater network of distributers that can aid the company in expanding across India and more particularly the western region, where the company seeks to lay down a solid foundation. Interviewer: What advice for young entrepreneurs, if any - Mr Sridhar : Quite simply,one has to understand above all else that there are no shortcuts to success, much less in the highly competitive medical market. Consistent effort must be poured to grow one's company and if the budding entrepreneurs in it for the short term gains and not for the long run, don't bother.

Interviewer: What Birla Medisoft's all about ? Mr. Birla : The company is into IT based healthcare solutions, with specific specialised solutions in regards to facets such as hospitals, diagnostic centres, blood-banks and the like, all being covered by Birla Medisoft with their system. In addition, Birla also boasts of a consulting division, Birla Hospicon, catering toward hospitals and other healthcare institutions, and the combination of both consulting and solutions facilities stemming from the Birla brand is one found nowhere else, with strong presence in both and single minded focus upon the healthcare industry, their forte. The company was established in 2001 in Pune, established by Mr. Birla, a software professional with 30 years of experience and extensive work toward an ERB system in India and USA, while my wife, Mr. Uma Birla, a former practicing gynaecologist of 15 years and then a managing director at Birla Medisoft for the past 15 years. Interviewer: What advice for young entrepreneurs, if any ? Mr. Birla : The medical industry is a booming market and an evolving one, which requires newer innovations by the day and thus offers a fantastic opportunity for those seeking to enter it to succeed with fresh ideas, as long as they fit the ideal mould of a solution desired by doctors, the end users for most products in this sector.

Oct 23, 2017 In an age where firms are increasingly delving into previously uncharted waters, upon the surface, every business still continues to be birthed for the sake of achieving one, singular ambition - turning profitable. But, of course, more substance exists to a business than what might seem like its primary goal to the layman, and here are 5 reasons to explain why the presence of profits neither moulds a firm's present trajectory, nor shape it's future. Re-investment - Re-investment has, over the years, donned the garb of a shrewd financial tool for those willing to bide their time, even if they're, in fact, sitting upon a potent gold-mine. Companies have innumerable times in the past displayed their unwillingness to actualize potential profits for the sake of re-investment and, thereby, facilitate the creation of a better product and service to couple it with. Be it the myriad of re-investment options available to procure for public investment schemes such as mutual funds or the corporate behemoths with their eye on rapid expansion and capturing market share, the phenomenon remains the reason why firms in the 21st century might "choose" to be devoid of profits. It's also re-investment that sheds light on the misguided perception most hold of the term "profit" itself, for it exists merely upon a balance sheet and it's marked absence from the same doesn't spell a revenue-generation disaster for the firm - just that it chooses to be prudent with the sum it turns over. Philanthropy - Charity boils down simply to parting with one's resources and, as a by-product, only suited for those who have them. 20 of Fortune magazine's top 500 companies donated a combined 3.5 billion dollars in cash alone through the course of the year 2015, while the network of donations in the form of aid materials and the like remain entirely unaccounted for, meaning that the figure could be vastly above the mentioned one. Humanitarian projects launched in the past decade have, more often than not, possessed corporate or financial backing to spur them forward and that the companies mentioned above are only a few of those today partnering on a regular basis with renowned aid organizations, most prominently Red Cross, has developed to become something of a norm. Pricing - In theory, the price of a product often relies upon either the fluctuations witnessed in a particular market, or how easily the materials necessary to create it are procured, if the product in question is indeed a physical asset. The recent imposition of the Goods and Services Tax (GST) brought forth a panoply of companies in it's lead-up that were able and willing to slash prices in half for products that would then fail to sell even in the near future due the greater price tag they would don as a result of having incurred the infant tax. Such external factors are responsible for adverse pricing changes on a consistent basis, though the phenomenon can often also stem from within a firm's framework, all for capturing the sacred "profit" everyone desires. This requires us to discuss why profits SHOULDN'T be the primary goal of a firm, for it's a guiding philosophy which pales in comparison to facets such as growth. Any company exists to deliver a satisfactory product to consumers, which, along with the service it grants through mediums such as customer support, in turn establish the brand loyalty that continues to forge billion-dollar corporations even in the field of technology, the meteoric growth of e-retailers bearing ample testimony. But all that the company strives to establish with its customers through the above can swiftly be brought crashing down simply due the hunt for profits - and increasing prices in the name of achieving the same. Firms today opt for the much more prudent, highly patient scheme of the above mentioned re-investment, with a foundation philosophy for many being that while unrealized profits can be actualised at any time, a market share can be lost without a concerted effort toward the same, and working toward capturing it remains the greatest goal, even if it means sacrificing available margins. Potential - Increasingly, it's not the mere profitability of a firm that lures investors anymore, but rather their potential to further build upon existing revenue streams and, thus, net more profits in the distant future, no matter how far down the line it may be, a reason why the absence of profits doesn't necessarily present itself as a nail in any company's coffin. Therefore, potential, both of growth and profits, is essential to any firm, even more than simply actualizing the latter. India's very own e-commerce sector thrives upon the potential it possesses, with analysts having time and again employed the phrase "scratching the surface" to describe its current scenario, thus pinning hopes for the industry's greater future upon the Indian population's increasing digitalisation. Undoubtedly, irrational optimism isn't a viable option either, best displayed by the billions that were poured into the American IT sector during the late 90's, later crashing through the infamous "dot-com bubble" and wiping off trillions from the stock markets, dealing a greater loss than the initial, uneducated investment itself. Another facet of potential, and indeed the most important one for a majority of firms, is that it attracts private investment, the lifeline for companies that don't have profits not because of prudent re-investments, but due their lack of revenue in the first place. Of course, it goes without saying that even profitable ventures sometimes require further investment rounds to aid expansion and, not to forget, are often established because of private backing they receive due their product's potential even from the onset. Employment - Although achieving margins on production might comfortably sit atop the priority list of each and every firm in existence, businesses often provide an invaluable boon to a nation's economy that even governments acquiesce toward and encourage - the provision of jobs. According to the Reserve Bank of India (RBI), almost 3% of the Indian workforce is currently employed by the formal, organised private sector of the economy. Prime Minister Narendra Modi's plea for global firms with an established presence in the Indian market to step forward and encourage native production through the Make in India initiative was a testament to the dire need for employment in our nation, and is something that only a rising private sector can facilitate both here and around the world over. The process initiated by 1991's fabled economic liberalization continues to stamp its ripple effects upon the Indian economy's growth, but has certainly helped the government and its policies steer toward a financial landscape reliant on the private sector, thereby bequeathing them with purpose more than just their own. Thus, now more than ever before, there exists abundant clarity that a business can be established for more than just being profitable and minting cash, but perhaps even serve the functioning of the particular society it thrives within.

Interviewer: What Baid Power Services' is all about ? Mr. Baid : The company is a manufacturer of nurse call and acute management systems, while boasting of other products targeted toward the same. The company was established in 2003 in Kolkata by Mr. Ramesh Baid. Interviewer: What are the company's current course of action ? Mr. Baid : Exposure is something that ranks high on my list, and I argues that the continual growth of the healthcare sector in India will throw up innumerable opportunities for not only his company, but also others, too.

Interviewer: What Garuda's all about ? Mr. Ganesh : Garuda is primarily into importing German medical equipment into India, their flagship representative brand being Boso, a wing of Bosch Germany, a 97 year old company. Garuda has a vast network of promoters and sales team to aide their tasks pan-India. The company was established in 2010, while having executive experience in the medical industry of over 25 industries. Garuda is based in Chennai and with locations spread across India. Interviewer: What are the company's current course of action ? Mr. Ganesh : The company is currently striving to expand and increase its visibility to seek out more distributors and channel partners, enabling better networking.

Oct 22,2017 1.Alternate advertising: Heavy expenditure is incurred by business firms on advertising. Through alternate means of advertising this cost can be reduced to bare minimum. Social media platforms like Facebook and Instagram can be used as effective means of interactive advertising. Products can be advertised through collaborations with brand specific blogs and youtube channels. For example: Approaching Fashion Bloggers and youtubers to advertise latest beauty care products and fashion trends. 2.Reducing permanent staff: Employing permanent staff adds to the total fixed cost incurred by the firm. If the size of permanent staff is limited, then the wage bill can be reduced. Employing freelance employees or interns for seasonal works or outsourcing seasonal work to agencies when required is a viable strategy. For example: websites like Internshala, freelancer, linkedin, letsinterns etc can help you hire employees for short term. 3.Outsourcing: Big firms who are running short of funds can outsource certain departments such as customer care, marketing, designing etc. to other firms or consultants outside to avail the service at a much lower price. 4.Small things matter: Going paperless, recycling, selling scrap or second hand computers and furniture can save some precious bucks. Reducing electricity wastage, making maximum use of natural light in the office and using cloud storage for record keeping are few ways of cutting down small expenditures that can cause a difference in offices where capital is short. It can be beneficial in the long run. 5.Get techy: Harnessing technology can reduce expenditure significantly. Using email, video conferencing and file sharing can save money spent on avoidable business trips. Using customized software to maintain records and accounts can save salaries of a few employees. 6.Repair instead of replacing: Purchasing new office equipments such as computers and other electronics and even office furniture is a big part of the firm’s expenditure. Instead of replacing items that are not heavily damaged or totally worn out, repairing them is a better option for any business which aims to cut costs. 7.Bulk is good: Bulk production reduces the marginal cost considerably while the price remains the same, this increases the profit margin of the firm better returns directly imply better growth for the business. Bulk production requires capital initially but once the production line is up and running cost minimization is drastic. 8.Long term contracts: Vendor, sellers and suppliers are more often than not willing to enter in long term binding contracts for lesser monetary consideration. Long term contracts cost the firm much lesser than the expenditure they would incur if they have short term based or order based contracts. 9.Employee retention: Retaining employees for long term saves the company training cost, cost incurred while giving the joining bonus, cost of conducting the recruitment drive etc. 10.Inventory management: Managing inventory on the basis of demand can help cut costs of stocking the inventory. It will also make accounting of stock easier and the cost incurred due to damage of stock due to its storage beyond the shelf life will be completely nullified.

Oct 21, 2017 With a very slim margin of error, the need to put every penny to good use is very obvious and even palpable. The fact that all the small business from around the world share is that they operate with a really strict budget. Marketing Budgets for small companies are already too tight, and one has neither the time nor the finances for things that could go wrong. Some tips to cut waste and boost success for the marketing of a business are: 1.Formulating a Plan with properly defined objectives: Instead of jumping directly into marketing and start paying for services that makes no sense and doesn’t gives out a good combination , one should devise a proper thought-out marketing plan. It becomes nearly impossible to allocate the marketing budget in the right places efficiently. 2.Unrealistic expectations: Expecting too much too soon and then giving up would be a wrong approach to adopt in a business. Overblown Expectations leads to disappointments and a false allocation of resources in the marketing of a company. 3.An understanding of the audience: An inability to understand customers, might be actually donating most of the marketing budget to charity. A concentrated study of the hearts and minds and behavior of the audience needs to be done before defining a strategy. 4.Adopting Dynamic Marketing Strategies: Marketing evolves fast these days. Thus, it becomes necessary to adapt to these changes to be able to cope up with their customer’s attitude towards the market. 5.Keeping a systematic Track: Once the plan is put in action, it becomes crucial to monitor the functions and activities performed in the business. With defined goals and objectives, it is possible to check up on them at regular intervals to assure efficiency with the minimum budget. 6.Being cautious about Investments: A marketer needs to be careful about where to invest, instead of investing in fads. One should also not listen to people who claim that certain things are dead. Self informing about things proves to be a better option rather than relying on second hand information. 7.Using Social Media: Using social media is great, but too many small businesses have started showing interest in such platforms to promote their business activities and so it has increased the competition over time. Also the public doesn’t usually fancies too much advertising. Using current media investments to build an email list is recommended because that provides a personal touch with the customers. 8.Organizing any big one-time ad campaign: Spending a big amount of the marketing budget on big one-time ad campaigns is not usually fruitful and might not be the right strategy to adopt. Small businesses with limited budgets should not dive into five figure marketing campaigns that are completely untested for them. When it comes to marketing, the need to be smart about one’s money is even more important. Although Marketing is of great importance for a business, but working according to a budget should also be kept in mind. Without clearly defined, it gets difficult to analyze where the wastage of money is actually taking place.

Oct 20, 2017 Promotion is a creative business area it requires originality and a unique vision. Here are some product Promotion strategies that make it to our list of top 5!! 1.Social Media: social media today has the power to reach anywhere and everywhere. To reach a wide spectrum of audience social media is the cheapest, easiest and the moat hassle free way to go. Creating Facebook pages and profiles on Instagram or simply sharing the product through circulation of pictures is enough to start with. However managing social media marketing is also task which has to be dealt with care keeping in mind all legal and ethical norms. 2.Promotional gifts and discounts: To gain a strong foothold in the market which is so competitive attracting customers initially is a challenge. To attach them one can launch the product with a promotional discount for the first few days or a complementary promotional gift to the first few customers. This will allow the product to get some recognition in the market. 3.Print Media: even in the presence of today's advanced technology, print Media hasn’t lost its charm. Advertising through Newspapers is beneficial for reaching a wide audience, at the same time print also offers the option for reaching a target audience through pamphlets, brochures, vouchers or banners, they are affordable, easy to distribute and comprehend and conveniently produced as well. 4.Establish communication: once a consumer is hooked to a product they will continue to purchase it for a long time. However, a brand must not mistake their loyal customers to be blindfolded, once they get to know of a better deal they will grab it. Therefore communication must be maintained between the brand and customer. This can be done through emails or messages so that latest information can be shared easily. 5.Contests and ambassadors: Rolling out a lucky draw contest giving some lucky customers a chance to win free goodies or having collaboration with a few customers who can further advertise the product and become an ambassador is also an effective strategy. People trust other people, when a friend or relative introduces a product, it is trusted. "Be a Sales Rock-star. Make Competition Irrelevant" By Suneil Stanly A Small Business Coach who's on a mission to help small business owners make more money, find more time.

Oct 19, 2017 "Blue Ocean" is a slang term for the uncontested market space for an unknown industry or innovation. In an established industry, companies compete with each other for every piece of available market share. The competition is often so intense that some firms cannot sustain themselves. This type of industry describes a red ocean, representing saturated market share bloodied by competition. Blue Ocean in contrast symbolizes high profit potentials. According to the Economic Times Blue Ocean Strategy is referred to a market for a product where there is no competition or very less competition. This strategy revolves around searching for a business in which very few firms operate and where there is no pricing pressure. The basic strategy is to capture the market demand and introduce a new product or a product with superior features so as to make the competing products irrelevant. Blue ocean strategy is linked with creating your own market. However, what really happens is the creation of a new product rather a better one. It is imperative that the timing of introducing the product in the market is correct. The timing is dependent on the demand, if the demand is too high, and then there is a chance that soon after your product many companies will follow with similar products, the ocean in such case turns from red to blue. If the demand is not much then the product, in spite of it being unique, will not be able to make profits. The demand in the market has to be just enough to allow producers to make profit and at the same time not allure competing firms to enter the market. One challenge is to gauge the demand for a product in the market that has not yet been launched. This can be done through extensive consumer surveys and analysis of current market trends. Using the blue ocean strategy, a producer can build a monopolistic market in some sense, but this monopoly is not secured forever. For as long as the monopolistic market rests with the producer, It helps the company in make huge profits as the product can be priced a little steep because of its unique features. For example: Apple ventured into digital music in 2003 with its product iTunes. Apple users can download legal and high quality music at a reasonable price from iTunes making traditional sources of distribution of music irrelevant. Earlier compact disks or CDs were used as a traditional medium to distribute and listen to music. Apple was successful in capturing the growing demand of music for users on the go. All the available Apple products have iTunes for users to download music.

Oct 18 2017 Making the customer feel like an individual and not just another customer or objects, increases customer satisfaction. In this age of automation and innovation, caring for your customers has never been more important. Here are some ways to value your customers and make them feel important: Even if the business is occupied with other activities, acknowledging the customer about its presence satisfies the customer. That way the customer is even willing to wait for a little longer. Warning the customer by sharing a tip or secret about any of your products or services makes it confides more in the company. And even after a mistake or mishap the customer is more likely to come up to you again and share their experience and even give a feedback. Returning phone calls and emails immediately makes the customer feel important. The reply that comes minutes or hours after the message received portrays leniency regarding value of time. When you promise something to a customer, delivering it on time creates trust with the customer. Setting realistic goals and not constantly falling behind schedule or coming in over price are also some that should always be kept in mind. In a situation when a client is let down by any of your mistakes, the first thing should be is to apologize and make sure the same mistake is not repeated again. Fully understanding the issue regarding what went wrong from your client’s point of view is also important. Keeping the dignity of the customer intact encourages him to actively communicate and avail more of your services. The most skilful service providers gently nudge the clueless in the right direction instead of making them feel stupid Listening to the customer’s need and complaints helps serve them better. Keeping your patience is the key to giving your customer the time to air out their issue. To solve customer dissatisfaction, provide excellent service to the customers on an ongoing basis. Be ready to present a special offer or discount with the hope of up-selling the customer to buy more. No matter the circumstances, the customer is always right. One should follow this rule to guide their business through growth, from customer service to user experience to product development. Taking feedbacks from the customers is a good way to show that you really care. It helps you to identify areas where you need improvement and where you are doing well. The fact that the company is taking an initiative to know the customer’s opinion shows that they matter. Never let your customers forget your business by following up effectively. It is recommended to deliver a good customer service and not just talk about it.

Oct 17, 2017 Just imagine . You have walked out of a shop or put down the phone after purchasing something and your immediate reaction is “WOW!”. How do you feel? Excited; satisfied; fulfilled – eager to return and buy again? Wouldn’t it be great if you could get your customers to feel the same way about dealing with you? Lots of small business owners (and not so small!) seem to think that the customer is merely an interference. But how can you get your customers all pumped up and ready to do business with you again? I’ll share some tips on exactly how you can get a ‘Wow!” response and show how it can positively impact your bottom line. Get promising :- These days too many businesses seem reluctant to commit to anything. As a result, you walk away with a nagging doubt that nothing is going to happen and so the whole experience is not pleasant. What a refreshing change to get a business that provides a firm promise on dates and times or opening hours. Can you provide a clear promise to your customers? Have a think about each aspect of your business and highlight all your ‘promisables’ in your sales and marketing stuff. One great tip – under promise and over deliver. Promise delivery in 7 days, knowing you can do it in 3 days. When the goods arrived 4 days before expected, that’s a ‘Wow’ factor if ever there was one! Important point – if you can’t deliver it, don’t promise it! Be a Tigger :- Remember Tigger from Winnie the Pooh? He’s all over the place; bouncing up and down with endless energy and enthusiasm. He just leaves his friends breathless! What a great person to be with and do business with. Are you enthusiastic when you speak and deal with your customers? Are your staff brimming with enthusiasm? If you can’t project an image which says “I’m happy to be here”, how can you expect your customers to feel different? So, have a Tigger day every day! First impressions:- If you have a shop or office where customers visit you, what do your premises say about your business? Is it modern, fresh-looking, clean and tidy? Or is it worn, tired and generally looking run down? Like it or not, customers will judge you on what they see. They may say ‘Wow’ but for all the wrong reasons! A pot of paint and a splash of colour can make all the difference and it doesn’t have to cost the earth. Be a problem solver :- Despite all businesses believing they have great customer service, the fact is that the majority don’t. The main reason is that when people complain, most feel that they have not been listened to and their problem has not been solved. Be a solver of problems – quickly and efficiently. A motto – ‘Resolve to solve’. Be their friend :- I don’t know about you, but I am a sucker for business owners who take their time to know me and recognize me when I next call or visit! The bond and the desire to do more business with those types of entrepreneurs, is strong for me. Do you take time to build a relationship with all your key clients? Do you go out of your way to greet them when they next do business? As the saying goes, aim to turn strangers into friends and friends in to customers.