THE IMPORTANCE OF ENTREPRENEURSHIP EXPLAINED IN A STORY.

In this blog, we covered everything you need to know about the Importance of Entrepreneurship and its development in a story format where we covered, entrepreneurship meaning, the qualities of entrepreneurship, the importance and role of entrepreneurship, entrepreneurship examples, and entrepreneurship books, etc.

If you are one of those many people who dreamt of being an entrepreneur, congrats you have landed on the right page.

Here is a summary of what you will find later in this blog.

A STORY OF 2 FRIENDS.
ENTREPRENEUR JOURNEY.
WHAT DOES IT COST TO BE A SUCCESSFUL ENTREPRENEUR?
WHY ENTREPRENEURSHIP IS IMPORTANT.
BEST BOOKS TO READ FOR ENTREPRENEURSHIP.
ENDING REMARKS.

Please make sure to read the blog till the end and we assure you that you will rethink all your dreams again.

''If you are born poor its not your mistake but if you die poor it is your mistake''. Bill gates.

A STORY OF 2 FRIENDS.

Here are two guys ''TOM AND DAVID'' who are childhood friends living in a remote village, both studied in the same school got a degree in the same field of knowledge, and came to the city for employment.

Both are married and well settled in the city and both were working in well-reputed companies in the city and slowly time passed by. With the increase in expenses of daily life and inflation, both realized one common thing which is that they are going nowhere, no growth in their lives, like nothing.

On one fine day, they met at a temple sharing their problems where Tom was still stuck in that comfort zone of that job though he had a dream alike to David of starting a business but had no courage and guts to resign the job to pursue his dream whereas the David showed the courage of leaving the job and started his business at 33.

Tom compromised long term happiness in life with his paycheck he was satisfied and lived an ordinary life whereas David struggled immensely in the first few months of starting his business, it was really tough for David, he failed many times in his business but never gave up his dream of an entrepreneur.

As time passed, Tom was frustrated with the increase in responsibilities, expenses, workload, social pressure, inflation, etc for all of which his earning was not at all enough then slowly to cope up with all that pressure he started drinking alcohol and smoking cigarettes. His health was ruined like his career.

On the other side, David bought himself a bungalow, luxurious car and created a passive income source through his businesses, to compare like earning of David in a single day is equal to Tom's 4 month's total earning.

David's earnings are all passive income sources which means even when David is sleeping he's earning money.

One day both the friends coincidentally came across in a hospital where both sat at tea hub outside of that hospital and Tom said that his mother was sick for last 6 months and from last couple of weeks her health was deteriorated so I admitted her in this hospital meanwhile all his savings are spent to recover the health of his mother but found useless and he's borrowed money from his relatives to pay the medical fees of his mother.

Whereas David said that he came to the hospital for a donation for deaf children fund campaign running in that hospital.

Here we can see both started their careers from the same place but only a single choice turned their fate upside down.

Tom asked David what are you doing these days and David replied I am a businessman running a couple of businesses. Watching the clothes and costly accessories that David wore, Tom asked in curiosity how much you earn a month, David with a slight smile on face replied my 1-day earnings are equal to your 1 quarter income.

Tom was awestruck and in grief, he went to look after his mother, and David moved on.

After a couple of weeks, due to not paying the loans and EMI Bills Tom's house was ceased by the government officials, he went on barefoot to his friend David's office for some financial help. David Hugs him looking at his bad condition helped him providing some financial help.

Then after all this drama got completed and his mother started recovering, Tom went to David to meet him personally. 

ENTREPRENEUR JOURNEY. 

When Tom met David to talk about his career and take advice and learn the journey of David and then David said that in the initial months after quitting his job to pursue his dream of being the entrepreneur he faced many problems, actually, it was all new scenario to him which he never experienced before and then spent all his savings compromising with his needs and basic wants into the business which failed multiple times

At one phase of his life, David actually went into depression as whatever he was attempting to do but failed miserably but with the help of his wife and parents, he recovered and bounced back.

Slowly as time passed David said that after a year of his business started working fine, he learned few skills and upgraded them regularly and read books on self-improvement, etc.

He became disciplined in his work.

He said many see my success as an entrepreneur earning income in a single day which is more than most of their 1 quarter's income but only a few realize the effort I kept behind to let it happen.

Tom got emotional, then to eliminate the excuses of responsibility and age which could arise in Tom's mind David mentioned the entrepreneurship examples like AMAZON Founder Jeff Bezos who worked in a good tech company before then he started selling books online realizing its potential and with his few smart choices and decisions he made in the past, at present he is the richest person in the world with $113 billion Net worth.

If Bezos was stuck in his comfort zone of job like Tom did he would not have become what he is now and would be in a miserable state in financial matters.

As Tom listened carefully to David, he then spoke about Colonel sanders in 1952 at the age of 65 started the KENTUCKY FRIED CHICKEN. At the age of 65 when people plan for their post-retirement life, this guy started a business which now emerged as one of the multibillion-dollar business.

What excuse do you have to defend yourself ? said David to Tom.

As per David people like Tom in the majority fail in the financial aspect of life because ''they depend solely on a single source of income for their whole lives which are considered one of the biggest sins for the financial life'' and they don't know how to get financially independent.


WHAT DOES IT COST TO BE A SUCCESSFUL ENTREPRENEUR.

When David was asked by Tom what did it took for him to be the person he is at present.

David said that it took him everything. He said I sacrificed many things in the journey of entrepreneurship to reach the destination of where I am right now.

When anyone starts thinking in a way of DO OR DIE then his best will slowly be revealed by itself.

Entrepreneurship does not only mean taking the risk to make some profits or starting a business, but it also means improving and challenging yourself daily. It is all about learning, growing, and developing as a good person daily this is the Entrepreneurship meaning.

Entrepreneurship qualities and characteristics are Creativity, Persistence, and Passion.


WHY ENTREPRENEURSHIP IS IMPORTANT.

You have a passive income source that works even in the absence of your involvement like the growth of a plant.

You have financial independence.

You have the power to control and influence people in your hands.

You are your own boss.

You can enjoy every second of your life and be proud of yourself for getting out of the rat race by taking the risk

You have the opportunity to help millions out there.

The entrepreneurship lifestyle provides the best luxury and great health care facilities.

You can be the inspiration for many children of this gen.

You can build many new relations and take your acts of revenge if you want.

Here, you can see entrepreneurship importance as it gives you a huge pile of achievements which employment doesn't. Because of this entrepreneurship as a career option is the best.


 BEST BOOKS TO READ FOR ENTREPRENEURSHIP.

While speaking with David about his business tom asked him according to you what are the entrepreneurship books to read for anyone aiming to be a successful entrepreneur, as per your experience recommend me a few you read that changed your perspective.

David said ''um there are quite a lot of books and knowledge to gain but for anyone aiming to be a successful entrepreneur, there are a couple of basic books which are

1. HOW TO WIN FRIENDS AND INFLUENCE PEOPLE. 

Authored by DALE CARNEGIE.

As per the title of the book, we can understand what the book is about, it is about how to improve our communication and networking skills which are the major key skills to run any business successfully.

Business is all about the interaction of people and fulfilling their needs and wants.

This life-changing book costs you 300 INR.

2. THE LEAN STARTUP.

Written by ERIC RIES.

This is one of the basic books to read because this book saves you lot of your time and energy as it focuses on why most of the startups fail and how to let it from not failing, the author mentioned few principles too to be good in business,

This is another life-transforming book that costs you 300 INR.

3. THE 4 HOUR WORK WEEK.

Authored by TIM FERRISS.

The book focuses on how you can use smart strategies like outsourcing and make it automated.

This is a must-read for all the aspiring entrepreneurs as it is available at a cost of 300 INR.

4. THINK AND GROW RICH.

The author is NAPOLEON HILL.

This is one of the few legendary books which is a result of 25 years of author's experience. It is about revealing the so-called success secrets of the highly successful people in the early 19's like Andrew Carnegie, Henry Ford, Thomas Edison, etc.

This is a must-read for everyone at least once in their life which costs 300 INR.

5. THE EXECUTION FACTOR.

The author is KIM PERELL.

This author is a successful start-up entrepreneur written about 5 traits for how to accomplish any goal and dream. As per the author, execution is the key factor between success and failure.

This book is also one of the key basic books to read which costs 1000 INR.

However, you can check out clicking here top books to read for every entrepreneur.


ENDING REMARKS.

After all of the discussion with David, Tom went on for serious decision and started his own business at 38, thankfully due to advancement of the technology there are many new business ideas you can start online and business ideas offline he could start with lower investment and higher profits with lower risks which turned out to be a blessing to Tom.

And as time passed Tom created multiple sources of income and started living a life he dreamt of in his childhood.

In this way, you too can start your own business irrespective of your age, ''it is better to be late than to be never''.

Always remember ''The biggest sin in financial life is depending on a single source of income which requires your involvement''.

Check out our previous blogs by clicking here top business ideas to start online and best business ideas to start with low investment in 2020. which will definitely help you figure out which business to do.

Please comment on whether you related the story mentioned in the article or not and let us know if you have any questions, doubts, and queries in the comment box below.


Until next time. GOOD LUCK.

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PASSIVE INCOME IDEAS IN 2020.

Hey, guys are you looking for How to become rich, or are you earning from only one income source like a job. if you have any queries about what are the Income sources of most millionaires or looking to earn money and generate passive income sources for wealth.

The article is all about passive income ideas to generate massive wealth. In this 21st century, the ideal question to lead a successful life shouldn't be ''how much you earn'', it has to be ''where you invest the money you earn.'' Many might question why they need to invest where they are good to go with their salaries the answer is INFLATION.

Times have changed, the world has changed with respect to that people's mindset needs to be changed. Inflation increases with the gradual increase in population and we need to not just confine ourselves in limited perspectives, in these tough times to cope up with the inflation we need to have at least 3 income-generating sources to live well in this tough competitive world.

So guys here are few paths of income sources to build wealth. Make sure to read the blog till the end.

Here's the shortlist of the income paths you will learn in this article to build passive income sources and get rich in India,

1. EARNED MONEY.
2. PROFIT MONEY.
3. INTEREST.
4. DIVIDEND MONEY.
5. RENTS.
6. CAPITAL GAINS.
7. ROYALTY.

Each source of money explained briefly, including its details and specialties.


1. EARNED MONEY.

Yes, You read it right. Basically, it is the first and last source of income for the majority of people out there. It is the source of money you earn bargaining your time for some one's need and want in return for some charge.

Obviously, JOB means Just Over Broke, but the reason many end up as employees, working for that paycheck rest of their lives is that this source of income brings with it a couple of elements which are certainty and comfort.

Certainty because you will surely get a particular amount of money at the end of the month.

Comfort because as the time passes you will end up in a comfort zone where you will be left with low courage to leave the job as it provides you certainty and a routine that you are very used to working for.

In the long run, you will end up with regrets for not working out against your comfort zone as you will not achieve the extraordinary life that you normally wish to live, though you spend maximum time in your job you still will not have enough money to lead a wealthy life. 
 Always remember - 

                     ''You will never change your life until you step out of your comfort zone, change starts at the end of the comfort zone.'' - Roy T Bennett.

                         

2. PROFIT MONEY.

Selling any of your products for a little bit more the price you make it and generate profits. Here you will learn about Entrepreneurship. 

You have to invest money in whichever business in the initial days of your career as an entrepreneur and also need to make a few changes in your mindset and risk-taking capability.

You need to spend lots of your time in learning and managing your customer and business, Many find it difficult to enter into this stage of career due to family responsibilities and needs. 

If you figure out the best product or service you want to sell by managing it excellently, eventually this has the potential to become a passive source of income and perennial flow of money into your wealth. 

Hold on, though most of the people can't make it but don't worry as there are few other income sources that you can definitely try and increase your wealth.

3. INTEREST.

This is everyone's cup of tea.

If you already have a set of money in your savings you can either give loans to someone you know for some fixed percentage of money for every month as interest until the borrower pays off his debt or you can go for savings account in banks where you will get an interest of some percentage of cash every month without working for it.

This is a great passive income source as it is a low-risk high-profit game but you should be extra mindful of where you are putting your money into.

                    

4. DIVIDEND MONEY.

It is a sort of income that is both passive and makes you a shareholder of a company. The money you get is a return for the shares of the company you own. 


If you have invested smartly on ex-dividend dates in good blue-chip companies you can exceed the dividend incomes than what you get from the interest and you will also have an asset as capital gains as the share price goes up through.


                                     

5. RENTS.

You generate cash-out of this by lending your assets to someone like building, vehicles, plot area, etc.

Though you can generate a good sum of money out, this has its cons too. The biggest con or drawback here is massive money is required to generate any asset, where some may not build an asset in their lifetime due to their scarcity of resources.

You can easily start interest money with 2000 INR initially but it's not the same with rental income where you need some lakhs of money to invest in buying any asset before lending it for someone,

6. CAPITAL GAINS.


When you buy assets like gold, land, buildings, shares, etc due to INFLATION these assets value will increase creating a profit value for you in the future.

In the longterm only you can make good capital gains largely in majority cases. 


Take the example of gold where a couple of decades back from now the price of 1 gram of gold would be 800 INR for instance but now its price spiked to 5000 INR. 

You see the profit, this is how capital gain works, the same applies to every other asset out there but to get maximum gains you have to think in long term view.

7. ROYALTY.

You earn money by letting someone use your products or ideas. If you are a writer then you earn on the basis of the number of books sold and the number of people read it.

For example, Bill gates who is considered as the 2nd richest person in the world has become a billionaire through royalty and profit money where he was so good at creating products and made a royalty product called WINDOWS and changed our way of interacting with computers.

ENDING REMARKS.


These are the source of income to generate wealth and most of the millionaires today have multiple sources of income.

Take an example of warren buffet he is one among the top 5 billionaires in the world had only 2 income streams which are capital gains and dividend income. 

He bought shares in the stock market which in the future worked as assets and profit from capital gains but buffet became a billionaire at the age of 56 which represents that you have to think in long term to generate profits in capital gains.

It's impossible to find a billionaire from the income source of earned money. Always remember one important thing that is ''the biggest risk in financial life is being dependent on a single source of income in which you are involved''.

Please let us know by commenting on which income source you are going to think about and start working on it and write your views and opinions or queries in the comment section below. 

For ideas of how you can start your profit money or royalty, you can check out our blog by clicking here top online business ideas to start in 2020 and best home business ideas to start with zero investment.

Until next time. GOOD LUCK.

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15 BEST HOME BUSINESS IDEAS TO START IN NO INVESTMENT..

Looking for some small home business ideas to start this year, well its a great thought, and congratulations as you have landed on the right page. We have researched and figured out 15 best small business ideas to start with low or zero investment.

So please, make sure to read this blog till the end.

Here is the list of 15 business ideas to start in zero investment along with their income and scope in the upcoming future.

1.TAILORING.

In general, People discuss fashion a lot and they do judge a person on an appearance and dressing style basis and clothes are major factors for self-confidence for people. Your expertise in designing and tailoring the garments in a fashionable and attractive way will definitely attract many customers to you which will help you tremendously in increasing your traffic and expanding your business. 

Learning the tailoring is a time-consuming skill but once you get control over it under good guidance, You can start the tailoring business with negligible investment considering its return value.

Tailoring is one of the oldest entrepreneurial professions until today it is considered as an evergreen business.

Earnings in this field totally depend on your skillset, Experience, customer base, etc but an average tailor can earn 25k INR a month.

2. CAR WASHING.

In many countries, let's say in INDIA the majority of the car owners would be people working for some big companies or businessmen, etc. who can't afford the time to wash and clean up the dust and greasy substances which stick on their cars. 

Even the number of car owners is huge so no worries about the demand for car washing. All you need is a sponge, car shampoo, tire black, hose as pieces of equipment, and good communication and networking skills to run the business successfully and expand it eventually with an increase in traffic and customer base.

In countries like the USA, Average car washer earns $9 on an hourly basis with an annual income of  $20,000.

Never forget that.

'' You don't build business, you build people and those people build the business and every big business starts small.''

3. BABYSITTING.

As per some research, nuclear families in India are 70 % and most of them reside in cities with the parents working for companies or working as daily labor where taking care of their babies will be a huge task.

Babysitting is a newly emerged successful business idea for the right-minded people as it is not everyone's cup of tea. 

If you are passionate about spending lots of time caring for small babies and children, you can be fulling a massive need of caregiving for babies to the new parents out there by starting Daycare services. Babysitting will be an evergreen business until the rat race in the people ends.

In no investment, Just some networking and communication skills involved, average babysitting service in India can earn up to 25k INR a month and it will increase as time passes.

4. REAL ESTATE BROKER.

Many people in India know that investing in real estate is a low-risk game with high returns and the real estate sector is growing as an increase in the population, for building residents or establishing companies, etc.

The interesting part is that though this sector is growing, the majority of people do not want to get hassle by the paperwork and legal permissions required for acquiring any property, it is where a real estate broker comes into play. 

The real estate broker's job is to take care of all the paperwork, legal documents, and permissions required. Take the real estate courses with good grades and you can be a broker between seller and buyer to help them have smooth transactions.

By 2030 the Real estate sector in India is expected to reach a market size of US$ 1 trillion from US$ 120 billion in 2017. Hence, the future of real estate is interestingly good in India.

Based on the experience in the field, the average salary of the real estate broker in India is 6 lakhs per year.

5. CAREER COACHING.

Majority of the young adults of this generation are literally confused about which career to opt and go for, they are unaware of their strengths and weaknesses, interests, etc. majority adults either move into wrong paths into getting addicted to weeds, alcohol or stuff to cope up with the work pressure in a career which they hate and few commit suicide for their decision of career choice in the past.

 Considering all that, Choosing careers is the most important decision of an individual in their life. In that case, if you are quite experienced in these subjects and have a good piece of knowledge in it, you can be a life-changer to many out there by being a career counselor and change millions of lives.

If you are good at communication and networking skills, you can work as a career coach in either online or offline medium for interaction with your customers with almost no investment needed in the beginning. 

Earnings of career counselors in India per month is 25k, but it largely depends on your communication, networking skills with people, and your portfolio.

6. NETWORK MARKETING or MULTILEVEL MARKETING.

 It is an industry where you with your group of people will have to promote and sell the products of the company whichever you are associated with to others and get a good commission out of every sale which you do.

There is a big scope of learning some important skills for life such as Money management, Communication, People Management, Leadership, etc other than money in this field.

Associating with a genuine MLM company if you play our game correctly it can become a life changer for you providing high returns with negligible investment 

Average network marketer associated with a genuine MLM company can earn 97,000 US $ per year. but like most other businesses it solely depends on your experience, expertise, and skillset in the field.

 If I would be given a chance to start all over again I would choose "NETWORK MARKETING"  -Bill Gates 

  7. HOME TUTORING.

 For this, you must have knowledge and interest in any academic subject and by teaching the subject to children and for school students at home, you can earn good sum money out of it.

In this, there is no capital investment required at all, all you need to invest is your time and little effort in sharing your knowledge and skill that you are in good control with your students back home.

The earning will depend on many factors such as subject, region, the standard of class, time period, etc. but on average in countries like India earning is 60k INR  a month for 5 hours session daily.

 8. CATERING SERVICE.

  

Everyone enjoys eating delicious foods, either at birthday party's or at weddings or on any other occasion serving good quality, healthy and tasty food is always mandatory. The food catering business is never out of demand as there is no shortage of functions and grand occasions for people. 

For starting a food catering business in investment terms, all you need is having the passion for making food, kitchen, and few employees to either cook food and do basic stuff.

It is one of the business ideas which can be started with low investment for high returns.

9. TEA-COFFEE CAFE.

After water, tea and coffee are the most drinking beverages across the world, and in countries such as India, Tea is consumed in 65% of the population. whereas coffee is consumed at 55%.

These beverages act as triggers as per the person's drinking pattern and establishing a cafe in a good location in trigger times of these beverages like morning and evening, you can attract good traffic and make good earning out.

Your earning solely depends on three factors, price, location, and taste. and with negligible investment, you can earn 40k INR per month.

10. PICKLE MAKING.

Pickle making business initially started as a regional business and slowly expand it into larger business by exporting it into different places.

Anyone can start this business who knows the recipe for the preparation of tasty pickles.

It is one of the low investment, high returns business ideas that anyone can try.

11. CAR DRIVING SCHOOL.

If you already have a car and want to earn money through it, you can start a car driving school where you can teach all the beginners to drive the car and do all the required paperwork for a license for four-wheeler in a fixed amount per individual.

In India, the average salary of a car driving instructor is around 20k but it varies in factors like customer base and your popularity, etc. 

12. COMPUTER REPAIR.

There are more than 1 billion computers are in use right now, there is no wonder that computer repair is tremendous. If you have knowledge in this computer, CPU's, hard drives and motherboards, and appliances related to it. You have a great opportunity to earn money by offering cost-effective repair services.

An average computer repair technician can earn $47,000 USD yearly.

This market of a business will also be evergreen until people stop using these machines.

13.TOUR GUIDE.

.If you are living in a tourist hotspot place where so many travelers pour down to your native place every month, and if you love interacting with new people and you have a good piece of knowledge of your place along with its history and culture then you are eligible for becoming a tour guide.

Tour guides earn a great number of tips if they delight their customers with their beautiful services.

Earnings of tour guide depend on the place where he is guiding, his ability to satisfy his customers, season and time, etc but average tour guide earning in India is 20k per month.

14.FINANCIAL ADVISOR.

Financial independence is the common goal of the large portion of people out there, the majority end up wishing it and only a chunk will have it. It's a matter of knowing basics, some knowledge, and taking the right choices. 

If you have good knowledge of finances, investments, asset building with experience in it then you can work as a financial advisor and guide many people with your knowledge and experience in that field to reach their most important goal of life.

The average salary for a financial advisor is around $83,452 per year. 

15. NUTRITIONIST.

 In this world where everyone are on their toes but wanted to live a healthy life, many looking for a good dietitian who can make them a time-efficient and healthy dish. And if you have a good piece of knowledge in the food sort and its details or expert in that field, you can be a nutritionist as it is in great demand as everyone are realizing the importance of health special thanks to corona pandemic.

The average salary for a nutritionist is around $38,460 - $84,610 per year. 

Ending remarks.

There you go guys, these are the 15 top business ideas that you can start off immediately with low or zero investment. Please comment down and share your thoughts about which idea hit you or looking ahead to start.

Make sure to read our blog by clicking here top 15 online business ideas it is very informative.

Other than that you can also check out other blogs like the future of graphic design and benefits of graphic design as it is one of the best home business ideas you can start.

Thank you for being with us till here guys. until next time, good luck.

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