ENTREPRENEUR SPECIAL... Mental exercises for beginner entrepreneurs (9)

ENTREPRENEUR SPECIAL Mental exercises for beginner entrepreneurs (9)

The myth of venture capital by Genevieve LeMarchal

This lesson is probably the shortest one of the entire course. Venture Capital is a myth because most companies do not raise venture capital. They either don’t fit the model for what venture capital is looking for or they don’t want to give up so much control of their business for the money. Sometimes both. It just seems like a lot of people raise venture capital because the media (and other entrepreneurs) like to talk about it. “Big fancy venture firm backs hot new technology for impending world domination” is a much more interesting headline than “Business toiled away in obscurity before organic growth kicked in for impending healthy operations.” Snooze. Either way, many entrepreneurs believe that they have to raise some sort of venture financing in order to be successful. The truth is, not having a huge nest egg of cash and daily pressure of performance affects how you grow and how you operate, but at the end of the day it’s a choice you make and it does not mean you won’t be successful.

“If you can raise venture capital go for it. But customers can give you money today, and you don’t have to pay it back” -- Seth Godin

Entrepreneurs who do not have “fundable models” are not at a disadvantage. They just don’t intend to operate the type of business that a venture capitalist likes to fund. Some venture-funded businesses can leave the founders with the short end of the stick. Taking venture funding means a significant amount of control, and entrepreneurs can be pressured to grow in ways they don’t believe in or sell too early or for too little. After all, they are just one investment in a portfolio of other investments, and their investors want their money back (and then some). Early stage venture capital can also severely stunt a fledgling company’s growth. Many early stage businesses that are venture backed will hesitate to put their early product into the market, instead opting to stay “pre-revenue” and continue to perfect it. Eventually their money dries up. Not having venture backing is an important kick in the pants that gets entrepreneurs into the market fast, because there is literally no other choice but to sell. Sometimes we think we need to look for investors when in reality, we actually just need working capital, or some new equipment, or a salesperson. And there are lots of ways to go about obtaining these things that don’t involve giving up your company and control. And if you happen to find the right investor, it’s a great fit, the terms are good, and you want them involved in your business (not just for the money), then go right ahead. But just know that you usually don’t need that to continue to have and grow your business. Action Tip If you are feeling like you need to have some sort of funding or financing to make things happen, ask yourself, “What would I use the money for? What would it really do for me? Is that something I could feasibly do on my own?” This is an inspiring story about an incredible entrepreneur and a legendary company that built their business with no venture capital and became one of the biggest privately owned businesses in the country.

Recommended book “The Power of Broke” by Daymond John

LINKEDIN SPECIAL... LinkedIn Top Companies 2017: Where India wants to work now.. 6 TO 10

LinkedIn Top Companies 2017: Where India wants to work now.. 6 TO 10

6.HCL TECHNOLOGIES..IT AND SERVICES

HCL Technologies’ culture can be summed up in one unique word: “Ideapreneurship.” (The company’s even trademarked the term.) It’s the belief that every employee should be empowered to come up with great ideas then be able to put them into practice to solve both operational and customer challenges. The information technology company is the fourth largest software services exporter, helping companies navigate new technologies like Internet of Things and machine learning.

Number of global employees: 111,000

Talent pipeline: The company recently recruited 200 high school students into an on-the-job training program for software engineers with the goal of developing a pipeline of skilled tech talent for entry-level jobs.

At the helm: HCL is providing the technology that will power this year’s Volvo Ocean Race, the world’s longest sailing competition covering 46,000 nautical miles and four oceans.

7.ADOBE ..COMPUTER SOFTWARE

 US-based Adobe, India is a key innovation hub. Nearly 30 percent of the company’s research and development is centered in the country, its biggest R&D location outside of its headquarters. Adobe, which develops products like Photoshop and InDesign, has also been hiring rapidly in India, filling 1,500 positions in the last year. “We have probably grown faster in India than anywhere else in the world,” said CEO Shantanu Narayen.

Number of local employees: 4,500

Health focus: Adobe provides special health perks like doctors that visit campuses and provide consultations free of charge to employees and their families. It also reimburses up to ₹37,663 for gym memberships, fitness classes and other wellness activities.

Take a break: Adobe offers long-time employees sabbaticals after they reach certain milestones, from four weeks paid time off after five years of continuous service to six weeks off after 15, 20, 25 or more years at the company.

8.ALPHABET…IT AND SERVICES

Alphabet — still better known as its main division, Google — has a legendary culture. The bikes, the food, the foosball; you’ve heard it a million times. But those aren’t what keeps the company on this list. What does? The opportunity and resources employees are given to tackle problems big and small. Many of these solutions, like being able to download maps or YouTube clips for offline access, started in India before going global.

Number of global employees: 72,000

A few words from the founder: “In the technology industry, where revolutionary ideas drive the next big growth areas, you need to be a bit uncomfortable to stay relevant,” says Larry Page.

Local innovation: Google recently launched its Solve for India program to engage with entrepreneurs and developers in smaller cities around the country, like Pune and Hyderabad, who are trying to solve distinctly Indian problems.

9.OYO ROOMS..HOSPITALITY

Moving up to No. 9 from 16th place last year, OYO Rooms is experiencing growth in all categories. On the funding side, the branded network of budget hotels is closing out a $250 million fundraising round, which will bring its valuation to $850 million. The company is plotting geographical expansion as well, with plans to move into Nepal this year after expanding into Malaysia last year. To support this growth, the company plans to hire 4,000 employees this year.

Number of employees in India: 1,700

First day traditions: New employees are welcomed with a nickname like “Warrior” or “Spartan” to get them excited about their new career.

Office culture: All employees work together in an open office with bench-like tables. There’s even an Office Mayor, who is responsible for employee experience.

10.RELIANCE INDUSTRIES…OIL AND ENERGY

Reliance Industries, best known for its dominance in retail, oil and energy, has also transformed the Indian telecommunications industry in the last few years through its subsidiary Reliance Jio, which just debuted long-awaited fibre home broadband services. The company also backs startup accelerator GenNext Hub, which uniquely helps top Indian startups grow rapidly by becoming a client. The Hub’s “Scalerator” approach facilitates contract discussions between startup founders and RIL leaders.

Number of employees in India: more than 50,000

Claim to fame: Reliance is the largest polyester yarn and fibre producer in the world.

Company motto: "Growth is Life".

Editor's note: The Top Companies list is the first ranking of its kind to be based entirely on actions of users. Our insights team, working with our global editorial team, analysed literally billions of actions taken by our 500+ million members to come up with a blended score that we used to rank the winners in each geography. As with all LinkedIn Lists, LinkedIn and Microsoft are excluded from consideration.

Adith Charlie

Tech Editor @ LinkedIn

https://www.linkedin.com/pulse/linkedin-top-companies-2017-where-india-wants-work-now-adith-charlie?trk=eml-mktg-tc17_in

TRAVEL SPECIAL .....BEAT THE HEAT Bask in tropical glory

BEAT THE HEAT Bask in tropical glory





Simply amble around or chill out on the sun-kissed beaches of A&N islands

Region: Andaman & Nicobar Islands

A trip to Andaman and Nicobar Islands remains quite exotic with serene and pristine beaches, underwater corals, adventure sports like trekking, scuba-diving and parasailing, historical monuments, natural wonders, vivid wildlife and plush-green tropical islands.

Located at the jetty near the Neil Island, Bharatpur Beach is famous for its coral reef and white shores. Because of the beauty of the reefs, Neil Island is often termed as the coral capital of Andaman.

Baratang Island showcases the limestone caves where erosion has formed some unique shapes. Marina Park in Port Blair consists of five sections, which includes: Geographical information, Archaeology, People information, History of Andaman Islands and Marine life.There are also miniature models of the islands displayed here with large tanks, which contain natural coral reefs and different kind of aqua flora and fauna that are unique to these islands.

Radhanagar Beach is situated around a distance of 12km from the Havelock Island and is a must-visit site. The waters are sparkling blue and devoid of any wave action. There are a huge number of activities that one can do like scuba-diving, snorkelling, boating, fishing, among others.

The Viper Island gets its name from the snakes that inhabit the island. The island is famous for the ruins of a jail that precedes the Cellular jail. The place is a picturesque location making it one of the most important tourist destinations.

The largest of the Nicobar Islands, the great Nicobar island covers an area of 1,045 sq km. The island is, however, sparsely populated.Nevertheless, the great Nicobar island is known widely for its rainforest that houses a diverse wildlife, and is also a part of the World Biosphere Reserve. The island is also home to the indigenous tribe called `Shompen', which is one of the oldest tribes in the world. Wildlife photographers can also visit the Campbell Bay, which is home to a number of unique fauna including includes crab-eating macaque, giant robber crab, megapode, and Nicobar pigeon.

ETPTR May 18 2017 : 

CREATIVITY SPECIAL .....MOST CREATIVE PEOPLE 2017 Naveen Jain

MOST CREATIVE PEOPLE 2017 Naveen Jain

Naveen Jain

Cofounder and Executive Chairman, Moon Express

For exploring the eighth continent

Born in poverty near New Delhi, India, Naveen Jain made his fortune with search engine InfoSpace, then cofounded data-mining giant Intelius, which he left after it was acquired in 2015. He’s been funding moonshots—often literally—ever since. Jain’s most prominent company, Moon Express, is a space-travel startup that has raised $45 million in its effort to become the first private company to land a spacecraft on the moon—a feat Jain plans to attempt in 2017 as part of an effort to win the $20 million Google Lunar XPrize. Next, Jain will set about developing technology to mine the moon’s natural resources. Lunar water, for example, could be gathered and split into hydrogen (which can fuel rockets) and oxygen (which can sustain space travelers). Eventually, metals found on the moon might be used to build structures and ships in space, making it easier to colonize other worlds. Jain says his ultimate goal is to make it possible for humanity to find a new home if the current one fails. “To build a sustainable business you have to both do well and do good,” he says. “And there’s nothing better than saving humanity from potential extinction.”

https://www.fastcompany.com/person/naveen-jain

ANALYTICS SPECIAL.... Playing catch-up in advanced analytics

Playing catch-up in advanced analytics

Among CPG companies’ most underused assets are the vast quantities of data they generate. But there’s still opportunity to invest in industry-beating analytic capabilities.

Consumer-packaged-goods (CPG) companies have increasingly gained access to unprecedented amounts of data, and we expect that this trend will intensify over time. However, most companies are generating very limited insight from these newly found sources, leaving a treasure chest of opportunities untapped. Companies that have already captured benefits from this trove of insight are reaching the next frontier of performance. For those companies that have yet to follow suit, it is imperative to take steps to catch up.

With all the attention given to advanced analytics, it may be tempting to assume that the benefits are overrated. But the value is real and significant. For example, by making a concerted effort to find correlations among more than 400 output and quality parameters, a paper company was able to reduce material cost by more than 10 percent and increase revenue per ton by more than 5 percent. To achieve its targets for quality at minimum cost, the company needed to optimize multiple consecutive process steps. Papermaking is a complex industrial process that combines interrelated chemical, thermal, and mechanical steps, but these interrelations and their impact on the product are often not well understood. The company had only a limited understanding of how control parameters influence product characteristics at each step of the value chain. Once the company understood the linkages among parameters, it used the latest machine learning and bespoke algorithms to optimize the paper mill for customer requirements. It also uses the model on a continuous basis to monitor and increase yield and improve performance.

Choose the right data and tools

Global companies should consider using both internal and external data, while addressing the challenge of accessing information in the most sensible way. Internal data sets must typically be cleaned and merged in order to glean insights. Depending on their source, data sets generated within a plant are often structured differently (for example, using different nomenclature or units of measure) and may contain statistical “noise” for a variety of reasons. External data can often provide CPG companies with much-needed insights related to consumers, customers, and competitors. However, the ability to use external data sources is highly dependent on the extent to which the provider has structured the data. Raw data may appear to be a random array of numbers and names. To make the data useful for analysis, the provider must, for example, clearly identify what is being measured and the units of measure. To generate insights from the data sources, companies must also understand the analytical tools and models available and select the right ones.

By choosing the right reliability-analytics approach, a heavy-equipment manufacturer reduced maintenance spending by about 5 percent, amounting to savings of tens of millions of dollars. The company applied a variety of advanced analytics to evaluate the performance of large motors used in production. These analytics included a Weibull analysis of component-failures data to determine the optimal maintenance strategy and logistic regression analysis to establish the relationship between alarms and failure events. Although these are not new analyses, the availability of real-time data, on-demand computing power, and machine-learning algorithms has enabled an entirely new level of proactive insight. The analyses revealed that high maintenance spending resulted from the need for a break-in period for new components. To prevent breakdowns, the manufacturer had been proactively replacing the components. In fact, the company’s overzealous approach to component replacement had actually been driving costs higher. By replacing the components less frequently, the company could improve their reliability and reduce maintenance costs.

Take a comprehensive approach

Manufacturers must apply a robust advanced-analytics approach that includes statistical analysis, modeling, and optimization of processes and products, and then take action based on the insights:

·         Collect data through sensors along the entire manufacturing process at critical points.

·         Record, archive, and analyze large volumes of big data using statistical analyses.

·         Model, using logic and algorithms, to calculate optimal settings or modes of operation. The state-of-the-art approach is to combine predictive methods into one superior method to model insights. The combination of methods, called blending, is itself a complex algorithm searching for the best possible solution. The predictive methods blended in this approach are often not new. However, the availability of vast amounts of additional data and tremendous processing power has created new opportunities for companies to combine these analyses to predict performance and determine the optimum answers to business problems.

·         Act on the optimization and continually monitor the impact to ensure decisions in plants are consistent with the design.

·         Set up and/or adjust the process or equipment with continuous improvement.

Across CPG industries, companies are capturing significant value by deploying an analytics approach based on these steps. Two examples illustrate the potential:

Improving vaccine yield. A biopharma company increased its processing yield by 50 percent by building artificial neural networks to identify optimal machine parameters. Manufacturing was the bottleneck in the company’s value stream. Yield was declining and highly variable, and regulatory bodies had raised concerns about process instability. The company’s existing approach to improve yield was unstructured and showed limited success. The company adopted a new approach that began with thoroughly understanding its manufacturing process. It gathered all available historical process data sets and used advanced analytics to identify the most influential parameters. It applied the insights to identify linkages between critical parameters and operations, define the main levers for reaching the optimum process conditions, and develop an action plan for implementing the levers. Without the need for capital expenditures, the company succeeded in de-bottlenecking its production facility. The yield improvement helped to reduce costs by $5 million to $10 million and increase sales by $20 million. The improvement also led to a resolution of the regulatory issues.

Accurately predicting spiciness. A food manufacturer was able to raise quality and reduce complaints by 90 percent by using infrared (IR) technology to continually monitor quality and optimize parameters to improve flavor characteristics. The perceived “hotness” of the company’s products is a critical parameter, but could only be determined by human testers—a process that is both unreliable and expensive. The company sought to use the latest IR technology to capture data, and then use data analytics to develop a model to evaluate hotness. The company developed a fully automated model in a neural-network tool to correlate key IR measurements to hotness. It validated the model through production runs and a comparison with human flavor-tester results. Once data capturing and modeling was validated, key-input-controlling parameters were connected through a process loop, enabling the manufacturer to change inputs to meet hotness targets. The manufacturer now continuously monitors quality prior to packaging. Total testing costs have been reduced, while the sampling size has increased and variations in product characteristics have declined.

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Efforts to adopt advanced analytics are typically initiated by teams in the industrial-engineering or continuous-improvement functions. While the value captured is often significant, these efforts are typically isolated and uncoordinated. Embedding such approaches more systematically requires coordination by the COO, working with other members of the C-suite to ensure that adequate energy, resources, and attention are brought to bear. Most manufacturers will find that the data they need in order to derive valuable insights is already at their fingertips. Applying the right approach to advanced analytics is the crucial step to catching up to competitors that have already reached the next frontier of improvement.

By Luis Benavides, Rehana Khanam, Frédéric Lefort, and Oscar Lovera-Perez

http://www.mckinsey.com/industries/industries/consumer-packaged-goods/our-insights/playing-catch-up-in-advanced-analytics?cid=other-eml-alt-mip-mck-oth-1705&hlkid=2e8cedcff7b948b0b314a79bdd3e5dfc&hctky=1627601&hdpid=1feb516e-c5db-4344-b8f2-428eb5c38d1e

HEALTH SPECIAL ...The Natural Wonders of Green Tea

The Natural Wonders of Green Tea

An old Chinese proverb says it is better to be without food for three days than one day without tea. It can be easily be categorized as another exotic Chinese phrase, but modern medicine has conducted thousands of researchers checking green tea out, and so everyone knows it's good for you, but who knows exactly WHY Green Tea is so good, and what is it good FOR?

The story of the tea began in the year 2,737 BC, and the legend tells of emperor Shun-Nung, the father of medicinal herbs, who discovered it by accident during a voyage. As he sat to boil the drinking water (as they did back then) and some tea leaves floated to the water, and painted it brownish-green. The emperor drank it and after enjoying the taste, he realized it had important medicinal properties. 

In ancient China, green tea was used to cure infection, headaches, digestion problems, depression and cognitive impairment. Research conducted in modern times found that the green tea delays the onset of age, keeps teeth healthy, prevents inflammation and infection, help to counter sun damage and eye disease, and ever helps to delay Alzherimer's and parkinson's.  

Green tea and its nutrients

All kinds of tea, be it black, green or oolong, comes from the camellia sinensis plant.

The color of the tea depends upon the amount of fermentation it has been through. Oolong tea is partially fermented, black tea is completely fermented and green tea is not fermented at all. It is produced by steaming fresh tea leaves at very high temperature. That tea is rich in antioxidants is a given, but green tea is known to contain large amounts of polyphenols, thearubigins, epicatechins and catechins - all types of an antioxidant known as flavanoids.

Green Tea And its Health Benefits:

Heart Healthy: Regular consumption of green tea has been known to reduce overall cholesterol levels, especially the bad LDL cholesterol which ultimately reduces the risk of heart attacks and heart diseases.

Fights cancer: Catechins present in green tea, are the flavanoids which fight free radicals that damage DNA and increase the risk of cancer.
Since green tea is not put through a whole lot of processing, catechins, especially  epigallocatechin-3-gallate (EGCG) are available in larger numbers.

Helps You Lose Weight: Can a simple activity like drinking green tea help 

you lose weight? Recent studies show that catechins help combat accumulated fat and aid in weight loss. Experts say that this fat reducing property catechins can help in a number of lifestyle disease, including obesity.

Boosts Your immune System: The antioxidants in green tea help give your immune system a boost of good health which helps keep common ailments like the flu away.

Happy teeth: Catechins are also antibacterial, which is why they are so great in fighting tooth decay, gum diseases and bad breath.  Additionally, they also reduce the formation of plaque.

Prevents Diabetes:Preliminary studies show that green tea may help to prevent or at the very least, slow down the onset of diabetes. The same study also suggested that green tea acts a very good agent in lowering your blood sugar.

Improves Bone Health: Studies show that not only can drinking green tea help improve bone density and help reduce the  risk of a fracture, it also encourages bone formation.

Reduces The Risk Of Parkinson's Alzheimers:
Research shows that polyphenols present in green tea helps in improving concentration, prevents memory loss and helps reduce the accumulation of brain damaging proteins in your body.

Great For Your Skin:
Not just as a drink, skin care products with green tea extracts are also wonderful for your skin as it helps your skin stay supple.
The antioxidants in green tea are also known to help keep wrinkles at bay.

LINKEDIN SPECIAL .....LinkedIn Top Companies 2017: Where India wants to work now.. 1 TO 5

LinkedIn Top Companies 2017: Where India wants to work now.. 1 TO 5

What's the common link between India’s largest e-tailer, world’s biggest consulting firm and a hospitality startup run by a 23-year-old college dropout? They are the companies Indian professionals engage with, the companies where they most apply for jobs and the companies that retain them. From Alphabet to Adobe and Ola to OYO Rooms, this year's LinkedIn Top Companies span 10 industries. They are where India want to work now.

The Top Companies list is based on the billions of actions taken by LinkedIn's 500+ million members. Our data team, working with our global editorial team, analyzed those actions to come up with a blended score ranking the winners in each country.

Our methodology takes into consideration three main pillars to uncover the companies our members are most interested in now: job applications, both views and applies on postings; engagement, with employees as well as with the company directly; and retention, how many employees are sticking around for a year or longer.

1. FLIPKART…INTERNET

Flipkart snagged the No. 1 spot for the second year running despite some tough challenges over the last several months. The 10-year-old company, which has become synonymous with Indian e-commerce, shook off those issues to secure a record $1 billion in funding. It also has plans to hire 3,000 full-time and temporary workers this year.

Number of employees in India: 30,000 (including contractors)

Time-off: Employees with over two years at Flipkart can take a career break to pursue higher education, spend time with family or attend to a medical emergency.

A personal welcome: On their first day, employees are picked up by chauffeur-driven cars and sent on a treasure hunt to familiarize themselves with the office.

2.AMAZON  …INTERNET

Amazon, a rival of homegrown Flipkart, once again secured the No. 2 spot on the list.

The e-commerce giant seems to be on a mission to touch everything we do online, from storing our data to delivering our new shoes, and its local success has been huge. CEO Jeff Bezos credited India as one of the reasons behind the company’s higher than expected revenue last quarter.

Number of employees in India: more than 10,000

Investing in India: “I assure you that we’ll keep investing in technology and infrastructure while working hard to invent on behalf of our customers and small and medium businesses in India,” said Bezos.

Beyond Bollywood: Amazon is rapidly expanding its Prime Video offerings in the country, investing $5 billion in 2016 with plans to double that investment in 2017.

3.KPMG..MANAGEMENT CONSULTING

One of the “big four” auditors, KPMG India works with a client base of over 2,700 companies, providing audit, advisory and tax services. Employees get to tackle some of the biggest issues facing Indian businesses and governments today, like redefining urban growth in Maharashtra or helping guide the future of renewable energy.

Number of global employees: 189,000

CEO change: Arun M. Kumar took over as chairman and CEO of the firm in February, succeeding Richard Rekhy.

Regional reach: KPMG India has offices in Chandigarh, Gurgaon, Noida, Ahmedabad, Vadodara, Mumbai, Pune, Bengaluru, Kochi, Chennai, Hyderabad and Kolkata.

4.ONE97 COMMUNICATIONS…INTERNETOne97 Communications is widely known for its payment and commerce platform, Paytm. The company had a banner year thanks to the Indian government’s demonetization drive, helping boost Paytm’s registered users to over 200 million. One97 is expanding even further into the financial services space and is on the verge of launching its first payments bank.

Number of employees: 13,000

Going Global: Paytm launched its bill payment service in Canada. It has a 55-member team in Toronto.

Notable perks: The company offers an Employee Stock Ownership Plan to top performers irrespective of their designation or seniority. Top performers also get an annual bonus, over and above the annual appraisal.

5.OLA…INTERNET

Few companies in India have revolutionized urban mobility like Ola. Not only has the company gone head-to-head with Uber in the ride-sharing market, it’s also launched services like shuttles, car rentals and mobile payments. The company debuted its latest launch, Ola Play, last year, taking in-car entertainment to all-new levels. It’s initiatives like these, rolled out at a blitzkrieg pace, that give employees a strong sense of ownership.

Number of employees: 6,000

Big name backers: SoftBank, DST Global and Sequoia Capital have all invested in Ola.

Multilingual deskmates: In addition to English, Ola employees also speak Hindi (23 percent), Kannada (5 percent), Tamil (5 percent) and Telugu (5 percent).

6 TO 25 CONTINUES LATER

Adith Charlie

Tech Editor @ LinkedIn

https://www.linkedin.com/pulse/linkedin-top-companies-2017-where-india-wants-work-now-adith-charlie?trk=eml-mktg-tc17_in