This title has a context, which I would disclose without any further delay
I meet several entrepreneurs, to help them ( mentoriing ) remove obstacles and achive better results in their businesses. Some recent cases :-
- A lady entrepreneur, began her business with govt schemes, struggling today with no-orders at hand. Last several months, her business is non-operational. It's operational just on paper, as she's paying her EMIs to the bank.
- Another entrepreneur whose unit is partially operational. Daily he opens it up, maintains the tidyness etc. However, he too has been struggling to get orders.
Both these cases do take all the efforts in the world to not-to-become NPA. They very well know that their CIBIL score will get affected and hence making all the efforts in the world to protect the same. They know, if they need any loan kinda support in future; their CIBIL has to be perfect.Looks good.
However, it doesn't look so good when I suggest them with detailed calulations as to how marketing is important to them (selling on their own) and they don't take any serious effort in this at all. They prefer to take all efforts to raise the EMI money but are not ready to buld this basic skill within themselves.
They are expecting someone else to come forward & ponder them with "orders". One of them has already employed sales staff & the other one ( whose unit is non-operational ) is almost getting ready to hire.
When I check their financials ....
I often go back to their Project Reports & see their projections. They do not seem to match what is he situation today. The aggressive projections. Instead, had they planned in a subtle way, with a step-by-step approach, things would have been much better today.
The stage when an entrepreneur thinks of establishing his own unit, and wants to raise finance, he/she approaches a CA, and that's the stage where he/she himself/herself should intervene & get every detail clearly covered to the last detail.
Business is built for profits. The project report is a "Profit Report".
Many upcoming entrepreneurs keep asking for "Project Report". I would like to very humbly request them to learn to build their costing sheets & check their 5-yearly profits.
