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Business Touch Magazine www.businesstouchmagazine.com Follow Us On March 2023
Mohammed Mobin Mallick, Founder & CEO of Kiran Smart Pioneer of
A.I Humanoid Robots

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Editorial Note

We are delighted to present the latest issue of Business Touch Magazine, featuring a dynamic personality in the tech industry, Mohammed Mobin Mallick, Founder & CEO of Kiran Smart Pioneer of A.I Humanoid Robots. Mr. Mallick has been a trailblazer in the field of artificial intelligence, and we are excited to bring you his insights and perspectives on the future of technology and robotics.

This issue also covers a range of other exciting topics in the world of business, including the latest trends in food, fashion, entrepreneurship, and law. We have interviews with successful business leaders, expert analysis on emerging markets, and practical advice for entrepreneurs and aspiring professionals.

Our team of writers and editors have worked tirelessly to bring you a magazine that is informative, engaging, and thoughtprovoking. We hope that you enjoy reading this issue and find it useful in your personal and professional endeavors.

As always, we welcome your feedback and suggestions for future issues. Thank you for your continued support of Business Touch Magazine.

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5 www.businesstouchmagazine.com Publisher : Sunaina Gupta Editorial Team Sahil Bhutani | Neeta Sabharwal Business Head Prabhat Global Media Manager Vaishali | Hina Rajput Designers Reena Digital Marketing Head Mohsin Marketing Head Sujal Maghrani Team Member Briti Bellani | Pankaj Gogiya | Komal Sharma Vinita Sharma| Vanita Mulchandani| Piyush Mehta Registered Office S.C.O -139, Sector 03, Kurukshetra - 136118 Email: info@businesstouchmagazine.com Credence Follow Us On

CONTENT

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TABLE OF
Page No. 10
Cover Story
MOHAMMED MOBIN MALLICK, Founder & CEO of Kiran Smart Pioneer of A.I Humanoid Robots Mohammed Mobin Mallick, Founder & CEO of Kiran Smart Pioneer of A.I Humanoid Robots

Failure is not an Alternative to Success

Page No. 16

Point

Page No. 20

The 10 Best Personal Finance Books of 2022

PNJ Hub: The Ultimate Solution for Middle-Level Management Services

Page No. 28

Pranav Joshi & Pranav Rangani: Relentlessly Moving Forward with an Eco-Friendly Objective

Page No. 22 Page

30

The Most Affordable Nations For Worldpackers Volunteers

Page No. 32

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No.
George Steinbrenner Fitness On with AR ELITE FIT

Sealmatic Files DRHP With BSE

SME 05th January 2023

Page No. 36

Page No. 42

Vaibhav Maloo, Managing Director of Enso Group, Believes in Ethics to Rise Above the Rest

Page No. 38

Starting a business requires more than just a great idea

Page No. 44

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VSN Raju, CEO, COEMPT –Taking Indian Education To New Heights

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Mohammed Mobin Mallick, Founder & CEO of Kiran Smart Pioneer of A.I Humanoid Robots

What comes to our mind when we hear the word “robot”? Do you picture a metallic humanoid in a spacecraft in the distant future? Imagine a dystopian future where humanity is incarcerated by its robot overlords. Or think of an automobile assembly line with robot-like machines putting cars together. Whatever you believe, one thing is sure: robots are here to stay.

Fortunately, robots will likely be more about doing repetitive or dangerous tasks than seizing supreme executive power. Let’s look at robotics, defining and classifying the term, figuring out the role of Artificial Intelligence in the field, the future of robotics, and how robotics will change our lives. Robotics is the engineering division that deals with robot commencement, design, construction, operation, submission, and usage. Let’s dive deeper; we see that robots are defined as automatically operated machines that carry out many actions independently and do the work usually accomplished by a human.

Incidentally, robots don’t have to resemble humans, although some do. Look at images of automobile assembly lines for proof. Robots that appear human are typically referred to as “androids.” Although robot designers make their creations appear human so that people feel more at ease around them. Today we have one such business owner, Mr Mohammed Mobin Mallick, with Business Touch Magazine, who deals in robotics, A.I. Humanoid robots, and many other necessary services connected to the I.T. sector.

OVERVIEW OF KIRAN SMART

Kiran Smart is the first HUMANOID ROBOT SOLUTIONS AND SERVICES company in Kuwait.

Kiran Smart Company WLL is a company in Kuwait having existed in multiple locations, providing I.T.

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MOHAMMED MOBIN MALLICK, Founder & CEO of Kiran Smart Pioneer of A.I Humanoid Robots

services to business and home users. It effectively combines technical expertise and domain knowledge to offer customers customised computer networking solutions and system integration solutions. Being one of the best I.T. Companies, they provide industrystandard integrated solutions, I.T. consulting, I.T. maintenance, I.T. consultancy and I.T. solutions.

Delivering every project successfully with extra care by our professional experts as per customer requirements is what we do. Our team contacts the customer to discuss and contemplate the project requirement details. Once the project is defined, our solution architect expert prepares the most innovative solution considering the cost and other factors. This solution is then communicated with the customer at every stage of development of the project to show the progress and deliver on time.

KIRAN SMART PRODUCTS

A.I Humanoid Robots

Disinfection Robots

Cleaning

Robot

Digital Signage

Interactive Touch Screens

KIRAN SMART SOLUTION

Outdoor LCD Screen

Networking Devices

Bandwidth Management Backup

HSIA Migration

Network Wireless System Servers

Network Security

Load Balancer

Robotics Solutions Wireless Solutions

Website Development Solutions

Mobile App Development Solutions

REALITY SOLUTION

IP Telephony Solutions

Network Security Solutions

Software Development Solutions Hospitality Solutions

Network & System Integration Solutions

KIRAN SMART RENTAL SERVICE

Call/Contact Center

Robot Rental IT Equipment

Digital Screens

LED Presentation Screen

LED Furniture Event Lights / Screens

KIRAN SMART MISSION AND VISION

Our Mission is to provide innovative, reliable, high-quality services to clients throughout GCC and Globally.

Kiran Smart fulfils our Mission by developing highly trained, loyal employees who work as a team to anticipate, identify and respond to the client’s requirements. Operating in a highly competitive environment, Kiran Smart continuously strives for excellence, aimed at fulfilling the maximum needs of the project at the lowest possible costs and passing the benefits to its client.

Our Vision is to achieve global brand recognition as the finest solutions and services provider where customers find the optimal business solutions to their needs.

Network Data Storage

Anti-Virus

Backup & Disaster Recovery Solution

CCTV Solution

Access Control & Time

Attendance Solution

Structured Cabling System

Audio Visual Solution

LED Party Lights

Restaurant Calling System

Digital Face Payment

Interactive Display Solution

3D Holography Solution

Virtual

Wireless Calling Solution

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We are driven to lead the industry by recognising that every detail of a project’s design is a step up the stairs to the excellence of innovation and a smart way out.

WHAT’S UNIQUE ABOUT KIRAN SMART

Having the vast experience and techno know-how of robotic solutions. Dealing with multiple mechanical manufacturers and companies worldwide to deliver the right solution to its customers.

a) The robot solutions and services are opted for each day by every industry keeping in mind that Kiran Smart has developed humanoid robot solutions and services for multiple industries like hotels, restaurants, hospitals, clinics, schools, banks, telecommunication, airport, shopping malls, hypermarket, retails chain showrooms, automobiles, corporate offices, oil & gas, museum and many more under development.

b) We aim to provide our clients with state-of-theart technology within their budget, allowing them reliable systems at a competitive price. We have strategic alliances with different multinational brands for additional solutions per their requirement.

c) Kiran Smart has successfully partnered with Cisco, Surfsonix, Kaspersky, F-Secure, Sophos, Cyberoam, Fortinet, Lenovo, DELL, H.P., Ruckus Wireless, Engenius Wireless, Synology, VEEAM, Vmware, Veritas, Acronis, and many more that assist us in providing custom made Software Development Solutions in Kuwait.

ABOUT MOHAMMED MOBIN MALLICK, FOUNDER & CEO OF KIRAN SMART

Mohammed Mobin Mallick is an MBA graduate from Cardiff University (U.K.). He also has experience with L.G. and Sony manufacturing units in the U.K. Later; he started his business in the U.K. on Asian Ethnic Garments. Still, he had to move to Kuwait due to his plan for the Middle East. He then worked as Business Development Manager and then became an I.T. specialist. He worked with many reputed companies like Cisco, H.P., Microsoft, Kaspersky, Sophos, Fortinet, Engenius, McCafe, and Symantec as partners to sell their solutions in the GCC market. After developing his knowledge in business operations and advancing in the I.T. field, he finally decided to have his own business.

ACCORDING TO MOHAMMED MOBIN MALLICK

“It was always in my mind to start a business at the right time because it needs good capital. But at the same time, my primary concern in starting a business is to help people to get jobs, especially fresher, and help poor people with some profits that the company make. Finally, serve humanity with the latest technology to improve future life.”

Later Mohammed Mobin Mallick took a new initiative to build our Dubai Company as Head Quarter for the entire GCC and would like to make it their Global H.O.

We have some strategies built for our company to be the Global Robotics Service and Solution provider for which our team was working to expand and look for partners in different countries. They started with their Global Expansion strategy.

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BIGGEST ACHIEVEMENTS, AS PER MOHAMMED MOBIN MALLICK

Mohammed Mobin Mallick was always curious about robots from childhood. So, when for the first time when he saw the robots in 2017 in GITEX Dubai then, he started working on that unfulfilled dream to make it the company product portfolio and expand it. Opportunities were fewer at the beginning of 2019 when the company started, but the Pandemic (COVID-19) opened enormous opportunities for him in robot solutions and services. Till now, they had lots of possibilities from different industries. So, the key opportunities to mention are Robots with Ai, Robots in Hospitality, Robots in Food and Beverages, Robots Rental for Events and Robots for Education. Nowadays, there are lots of opportunities for cleaning robots as well.

It isn’t easy to highlight any particular achievement for Mohammed Mobin Mallick that gave the feeling of being great because he had so many of them to mention. Still, one of them, which he loved to discuss with us, was to say deploying his robots during COVID-19 to save humanity locally and internationally. This is one of his most outstanding achievements that GOD had helped him to help and support humans when they needed his services to save a life in the Pandemic with different model of robots, whether you talk about the delivery robot, disinfection robot, cleaning robot, teleconferencing robot, education robot, etc.

BIGGEST CHALLENGES OF KIRAN SMART AND HOW THEY SUCCEEDED

The biggest challenge for any business or company is finance, but sometimes there are multiple challenges as Founder, CEO, and Entrepreneur. Those challenges were:

1. Finance

2. Right Team

3.

Retaining the Loyal Customers

To overcome the financial challenges, they had to increase effort to deliver the services to the customer immediately so that we get the payment promptly. They stopped giving customers credit for an extended period to protect their investments and return them ASAP. They had to reduce our profit margins to get continuous and more business.

Kiran Smart has always faced high challenges in recruiting the right person for the company. For this, the company started always outsourcing the selection by agent, and a final interview was taken to get suitable candidates who could be an asset to the company.

Generating customers is easy, but keeping an ongoing is challenging because there is new competition and new competitors every day. They had to give our best solution to customers, which is to their budget and maintain quality. But at the same time, we are keeping our team on high alert to serve the customers 24/7 round the clock.

First of all, the company name, “Kiran Smart”, has got a fantastic story as the brand behind the title. It has strived hard with quality services and promises to our customers on time, which helped us gain customers’ trust. This trust of the customers helped us build a strong brand not only locally but internationally. Lastly, the company participated in many marketing events, summits, exhibitions, etc. So that people recognise us.

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CHALLENGES OF KIRAN SMART DURING COVID

“Covid 19 was exciting because we were supposed to collapse as we had massive investments in robots before COVID-19, August 2019. Then lockdown started in March 2020 in Kuwait, which affected the business. But I just took my team to meet and said we would launch our robots to fight the PANDEMIC. The team was also shocked and wondered how to move ahead?”

Mohammed Mobin Mallick suggested being a Pioneer and an example of using robots during this Pandemic. The company had a manufacturer from China and Russia, so and discussed with them to clarify which environment and scenario this robot could work in.

Mohammed Mobin Mallick had this idea to put on a live scenario like using the robots for COVID-19 center for transporting the food and medicine to the patient rooms, doctors using the teleconferencing robot to speak to nurses and the patients, using the cleaning robot for moping and vacuum, using the UVC robot for disinfection the area to make it hygiene, using the air purification robot for the crowded places and finally using the humanoid robot to maintain the social distance among human.

This has turned the table positively. The company started renting their robots, sold robots, and even provided social services where they did not charge for the robots as a rental. COVID-19 helped the company establish itself in the market and brand it. At the same time, they ran their business and helped others to run the industry with robots.

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LEADERSHIP STYLE AND COMPANY CULTURE OF KIRAN SMART

Mohammed Mobin Mallick is simple and likes keeping things simple: “I keep everything very simple. Therefore, my Leadership Style is straightforward. I keep myself humble and kind towards people, whether it is my team, customers, vendors, or any community I am dealing with. On the other hand, I also try hard to keep myself up-to-date on my robotics field to successfully lead my team, my customer, and the people around me in this domain.”

Whether you’re deciding to accept a job proposal from a novel employer or you’re looking for a job, one of the most critical aspects of your professional life will be the workplace culture. The office or organisation’s atmosphere or “vibe” is so powerful that it can make or break your job experience and affect your long-term employment or, in the nastiest circumstances, your speedy retreat back to the job market. But what sorts of things determine or reflect a good company culture? It’s often difficult to articulate, but tangible, measurable factors to watch out for indicate the health of a company or workplace and employees’ happiness stages at work.

Good work culture is crucial as it affects the team’s productivity. How your employees are being treated directly affects the way they perform also. Therefore, they are given freedom on their timings, working from home and office. At the same time every week, they keep 1st day of the week lunches at work for the team where they all can have fun, crack jokes, and open up about their personal life; if someone needs any help or support, they can talk, and we company try their best possible way to help. Everyone enjoys the fun time they spend together in the office.

THE BEST PIECE OF ADVICE BY MOHAMMED MOBIN MALLICK

“Live for others, and others will LOVE you”. The father of Mr Mohammed said it.

“His mother said to spend the money wisely but on people because people will respect and care for you.”

The mother of Mr Mohammed said it.

“LIFE IS HARD, SO BE HARD.” SAYS MR MOHAMMED.

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GeorGe Steinbrenner

Failure is not an Alternative to Success

New York Yankees major owner and American businessman George Steinbrenner (1973–2010). His path to success was likely not a smooth one, but he has done a great deal anyway. Despite widespread disapproval, his tenure as Yankees owner saw the club become a baseball powerhouse and a financial powerhouse. He got where he is now thanks in large part to his self-assurance and work ethic.

After attending Purdue for two years, Steinbrenner got a call from his father in 1957, asking him to join the family firm. Later, he reported to Slezak, “He urged me to hurry home and get busy.” “What I really want is to remain a coach. My dad didn’t ask for much, but what he did ask for was always an order.”

Steinbrenner began his career in the family firm as the treasurer, and after four years, he had shown his commercial prowess and was promoted to president of Kinsman.

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Business kept him active in sports, and in 1960 he formed a partnership to buy the Cleveland Pipers, a semipro basketball club. This venture did not pan out, but it served as a learning experience for what was to come. As early as 1967, Steinbrenner was well on his way to becoming a rich man thanks to a merger he orchestrated between Kinsman and the American Ship Building Company.

To further his political career, Steinbrenner chaired the Democratic Congressional Dinner (a political fundraising event) in both 1969 and 1970. But he never ever sought public office for himself, declining an opportunity to run for governor of Ohio in the early 1970s. Steinbrenner, who votes for both Democrats and Republicans, has said this to Kaufman: “To put it simply, I don’t stick to one political party’s platform or the other. I like male company.”

Due to Steinbrenner’s prominence as a result of his shipbuilding business, he came close to buying the Cleveland Indians in 1972. After

the transaction fell through, he started looking for similar opportunities and eventually found out that the New York Yankees were for sale.

In 2003, Steinbrenner passed out at a memorial ceremony for NFL great Otto Graham. In 2006, he seemed weak during the groundbreaking for the new Yankee Stadium. In 2010, he fell unwell while seeing his granddaughter perform in a college play. In January of 1973, Steinbrenner led a group that purchased the club with the intention of allowing him to maintain a “distant” ownership role. He broke his promise. When Dave Winfield, a future Hall of Famer, was having a bad year in 1985, Steinbrenner bribed an underworld figure to dig up dirt on him and referred to him as “Mr. May.” Berra and Steinbrenner feuded for more than a decade.

Steinbrenner was good at making jokes about himself despite his reputation for being tough. He hosted the comedic variety programme Saturday Night Live, acted goofy with Martin in an advertisement, and laughed at Seinfeld’s parody of him for years. He donated millions to good causes, but usually only on the condition that his identity be kept secret. His investment in the Yankees was profitable as well, with the net price his group paid in January 1973 growing by $8.7 million (Dh32m). There was a $1.6 billion value placed on the Yankees by Forbes in 2008.

He spent lavishly on players like Reggie Jackson, Dave Winfield, Alex Rodriguez, and others in the hopes of

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winning a championship, permanently altering the economics of American sports. In his own words, “Winning is the most important thing in my life, after breathing,” Steinbrenner often said. First, we must breathe; next, we must win. He had always considered himself a bona fide representative of the Yankee Doodle Dandy ideal. It seemed fitting: George Michael Steinbrenner III was born on the Fourth of July, in 1930.

George Steinbrenner’s early failures : In the early years of his life, George Steinbrenner lived in a suburb of Cleveland, Ohio. In 1952, he graduated with a BA in English from Williams College in Massachusetts. He joined the Air Force after high school graduation and stayed for two years. After that, he went on to get a graduate diploma in the field of physical education. Here he began his adventure. After graduating from college, he began his coaching career as an assistant for the football teams at both Northwestern and Purdue. But he was having a

tough time getting along with the team, and the players saw him as overbearing, so they started calling him “the Boss.” Despite being insulted, he maintained confidence in his own abilities. In 1960, he bought the Cleveland Pipers, a minor league basketball club. But under Steinbrenner’s leadership, the team fell bankrupt in only two short years.

Of course, this wasn’t the only severe setback they faced. In addition to this setback, Steinbrenner was later found guilty of conspiring to make illegal payments to U.S. President Richard Nixon’s reelection campaign. It was because of this that he

was banned from MLB until the year 1976. However, the Yankees suffered a crushing loss because George wasn’t there to help. There were several defeats and setbacks for the squad. This pattern occurred again, identical to the first time. But George kept doing his best. His presence was immediately recognised as being crucial by the group. Over the years, with George Steinbrenner’s help and as his team, the Yankees appeared in seven more World Series and won five more championships. He was a guy of great self-assurance and meticulous planning.

He kept trying even after a string of setbacks. Despite setbacks, he kept working toward his goal. He put forth tremendous effort and did his best to train the player. Though the team initially disliked George, they eventually came to appreciate him for what he could become. Even though he was criticized, he didn’t let it deter him. He knew what he wanted, and that’s why he made controversial decisions despite public outcry. He put in a lot of effort and established his worth, and as a result, he has found tremendous success.

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Steinbrenner’s health was poor for a long time, thus he avoided making many public statements or appearances. The Yankees won seven World Series victories and eleven American League pennants during his tenure, which started in 1973. He was the picture of success with his signature navy blue blazer and white turtleneck. The only times he attended a game at the new Yankee Stadium were the 2009 opening, the first two games of last year’s World Series, and the season opener this year, during which team captain Derek Jeter and manager Joe Girardi visited him in his suite to present him with his seventh World Series ring. Hal Steinbrenner, who succeeded his father as managing general partner, said, “He was highly passionate.”

Life lessons from George Steinbrenner’s life : One of George’s most important takeaways is the need of believing in oneself, as elves. In spite of the many challenges he faced, he had faith in his own ability. George didn’t let the criticism of his decision discourage him. He was a diligent worker who never gave up. Only by his own tenacity and self-assurance has he come this far. Move on from your setbacks; they are not a replacement for success. Never give up and never give in to your mistakes. Put up the effort and go forward boldly in pursuit of your goals. When we set our minds to something and stick to it, we don’t have far to go before we see results.

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10 Top-Notch

To Watch Globally VERSATILE BUSINESS LEADERS

FITNESS ON POINT WITH AR ELITE FIT

Since early on, health and fitness concepts have been ingrained in our minds. It is widely said that fitness is the key to a happy life and that good health equals money. When we talk about wellness, we talk about how someone feels overall. When a person’s mental and physical abilities are both high, we say they are healthy and physically fit. Today, being healthy means more than simply the absence of sickness; it also implies a condition of total mental, social, and spiritual fulfilment.

One cannot just will themselves into shape and health. Everything depends on the quality of our surroundings and the nutrition of our meals. The primary urban dwelling lifestyles, poor eating and lack of knowledge has caused tremendous harms to the us which could be reflected via severe acute diseases, posture problems and deficiencies even in a very young age. It is our civic duty to work for a more sanitary community since it has a direct bearing on the state of our health. The standard of the food, drink, and air we breathe all impact us. Our everyday routines may also affect the amount of physical fitness we achieve. Thus, this time the Business Touch Magazine brings you the AR ELITE FIT your one-stop solution for your personalised fitness journey.

THE FOUNDERS OF AR ELITE FIT

The founder of AR ELITE

FIT,

Aaryan Rajput, graduated with a degree in hotel management and became an accomplished individual in the fitness industry. Both his expertise in the fitness industry and as a nutritionist have been officially recognised. Over his five-plus years of work in the fitness sector, he has helped hundreds of people worldwide achieve their fitness goals.

He also became a fitness enthusiast in his undergraduate days and got a diploma in acting. He eventually decided to use the knowledge he had gained about healthy eating and exercise to help others achieve the fit, active lifestyle he had always wanted. After the worldwide outbreak of the covid, he set out to establish an internet presence for his business so that he could virtually aid an unlimited number of individuals in their quest to reduce their body mass index or get a measure of control over their health conditions. Up to this point, he has already changed the lives of thousands of individuals worldwide, and he is eager to do so many more.

BECAUSE OF HIS STRONG WORK ETHIC, SELF-ASSURANCE, AND ABILITY TO FIND CREATIVE SOLUTIONS TO PROBLEMS, HE IS A COMPELLING BUSINESS LEADER.

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AARYAN RAJPUT Founder

Co-founding AR ELITE FIT with her husband, Monalisa Dhar Aaryan. She is among the most prominent figures in India and the world regarding health, fitness, and dance instruction. She has a Master of Business Administration and a Master of Arts in classical dance. She is also a certified personal trainer and a certified dance fitness instructor with more than ten years of experience in the former role and more than three years in the latter.

SHE THINKS THE BEST WAY TO GET IN SHAPE IS TO SET AND WORK TOWARDS SPECIFIC, MEASURABLE, ATTAINABLE, RELEVANT, AND TIMELY (SMART) OBJECTIVES.

Since she began dancing at the tender age of 5, she has developed a lifelong passion for the art form. Dancing daily will keep you joyful and stress-free no matter what. It triggers the body to create feel-good dopamine and protects against various potentially debilitating physical ailments.

WHY FITNESS AND AR ELITE FIT?

Having a healthy body and regular exercise routine is not something we can do alone. People often think they are fit unless they get on any disease or get old. However, AR

ELITE FIT will help you know that fitness is a lifestyle that includes working out, making the correct diet choices, and adjusting your lifestyle to resonate with your work and family.

Our health is affected by the physical setting in which we find ourselves. How fit we are is also influenced by our daily routines. The strength of our muscles may be boosted by regular exercise. Regular exercise improves the body’s ability to take in oxygen and use it effectively. Both the heart and lungs are functioning well. Our skeletons fortify, and our joints become pain-free. Consistent physical fitness efforts can help in:

• Maintaining a healthy and active lifestyle.

• Reducing the risk of developing many types of cancer and other chronic illnesses. Under duress, a healthy mind responds more effectively.

• Enhancing your sense of self-worth.

• Regular activity lessens the severity of the fracture.

• Significantly reducing the likelihood of developing heart failure.

• Cancerous cells may be defeated if the body’s immune system is strengthened.

AR ELITE FIT recommends that at least twenty minutes a day be devoted to physical activity. The amount of fat we store in our bodies can be reduced by exercise, and our cholesterol levels can be managed. The regime could be made even more enjoyable by playing sports like cricket, football, volleyball, etc., in the fresh air that helps us maintain a healthy weight and shape. Regular exercise is essential for keeping in shape. AR ELITE FIT can help you ace your fitness journey and achieve a healthy lifestyle. You can further access their social media accounts for everyday workout regimes, fitness tips and diet patterns all for absolutely no cost. So stay fit and healthy and take care of your loved ones.

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MONALISA DHAR AARYAN CO-Founder

The 10 Best Personal Finance Books of 2022

Books about personal finance may improve your approach to financial management. Learning the fundamentals of personal finance will help you become more knowledgeable and secure with managing your money. This includes things like understanding the value of paying yourself first and the best ways to manage and eliminate debt. But that’s not all. You may develop a healthy relationship with your finances with their guidance on topics such as investing, mortgage management, saving for a rainy day, and more. It’s not exactly beach reading, but your pocketbook and your financial account will be grateful you did.

Here are our pickS of tHe beSt perSonal finance bookS

beSt overall: Why Didn’t They Teach Me This in School? Almost everyone would say that they wish they had spent more time in class learning about financial matters. Specifically, “Why Didn’t They Teach Me This in School?” is the title of a book by Cary Siegel that discusses the author’s wish to have learned better money management skills in school. Retired business executive Siegel organises the book into the 99 principles you should have mastered by high school and the eight financial lessons you should have learnt in college but didn’t. After realising his five children weren’t adequately prepared for adulthood in terms of personal finance, Siegel wrote this book to share his knowledge and experience with them. It has since become a best-seller and is widely regarded as an invaluable resource. This straightforward guide is great for recent graduates or anybody else who wants to get their financial footing on the right track.

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beSt MeMoir: Rich Dad Poor Dad

The book “Rich Dad Poor Dad” by Robert Kiyosaki has been popular for over twenty years, and with good reason. One of the best-selling books ever written on the subject of personal finance, “Rich Dad, Poor Dad” is based on lessons Kiyosaki gained from both his own father and the “rich dad” of one of his best friends. The lectures include topics such as the difference between an asset and a liability, and they tell parents why their children won’t learn these things at school. In celebration of this book’s 20th anniversary, the author has written a brand new afterword in which he discusses the state of the economy, investment, and personal finance in 2018.

beSt for Debt ManaGeMent: The Total Money Makeover

How well you handle your debt has a significant impact on your financial well-being. Find yourself in need of some assistance in this particular field. Check out “The Total Money Makeover” by Dave Ramsey. This New York Times best-seller doesn’t pull any punches when it comes to explaining how to improve your financial situation and get out of debt by avoiding typical financial hazards including rent-to-own agreements, cash advances, and the use of credit. In addition to helping you get started with Ramsey’s famous “Snowball Method” for paying off debt, this book is packed with helpful tips for saving for emergencies, higher education, and retirement.

beSt for builDinG WealtH: The Automatic Millionaire

To be a billionaire is a dream of almost everyone. Business best-sellers like “The Automatic Millionaire” by David Bach will teach you the ropes. The book begins with the tale of a couple that started off with $55,000 in yearly income and went on to accomplish all of their financial goals. Consider a couple that buys two houses, sends their kids to college, and retires at 55 with a million dollars saved. What is it? Creating an automated mechanism of paying yourself first with your money. Also by Bach are the books “Smart Women Finish Rich,” “Smart Couples Finish Rich,” and “Start Late, Finish Rich.”

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beSt for beGinnerS: Broke Millennial

This is the best book on personal finance for those who can decode #GYFLT. In social media parlance, “get your financial life together” is abbreviated as “#GYFLT.” In “Broke Millennial,” Erin Lowry uses her unique conversational tone to show people in their twenties how to take charge of their financial futures. This book addresses the most pressing financial concerns of today’s millennials, from developing a healthy relationship with money to coping with student loan debt to discussing money matters with a significant other.

runner-up, beSt for beGinnerS: The One-Page Financial Plan

Are you unsure about how to handle your own finances, whether it be via prudent investment or the face of unanticipated hardships? Money management might seem intimidating, but Carl Richards’ “The One-Page Financial Plan” removes all of the guesswork. This book provides a straightforward, one-page road map for achieving your financial objectives. Richards writes a column for the New York Times and has a CFP certification.

beSt for SpenDerS: I Will Teach You to Be Rich

Not spending any money at all is not what being affluent is about. Ramit Sethi, author of the New York Times and Wall Street Journal bestseller

“I Will Teach You to Be Rich,” discusses how to invest and organise your money so that you may spend it without feeling guilty. From avoiding late penalties to maximising your monthly savings, this book covers all the bases when it comes to personal finance. This revised and updated version celebrates the book’s tenth anniversary with new material on economics, psychology, and technology, as well as testimonials from readers who have become financially independent thanks to the advice in Sethi’s book.

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beSt for WoMen: Clever Girl Finance

According to the U.S. Department of Labor, the wage gap between mothers and dads is even worse, with moms earning just $0.71 for every dollar earned by a father. 1 In a nutshell, women still face more obstacles to financial success. By discussing topics like budgeting, credit management, saving for retirement, and taking charge of one’s own financial future, “Clever Girl Finance” by Bola Sokunbi hopes to inspire and instruct a new generation of women. Sokunbi is the Chief Executive Officer and Certified Financial Education Instructor (CFEI) of the personal finance website Clever Girl Finance.

beSt pSycHoloGy: The Psychology of Money

This book is a fascinating exploration of the mind’s influence on financial choices, including the role played by one’s own conceit, prejudice, and sense of self-importance. Not surprisingly, this isn’t the most effective method for managing your financial portfolio. Morgan Housel’s “The Psychology of Money” provides advice and strategies for overcoming these prejudices in the form of 19 related short tales. Housel has been a writer for The Wall Street Journal and now works as a partner at The Collaborative Fund.

beSt for buDGetinG: Your Money or Your Life

The best-selling book “Your Money or Your Life” by Vicki Robin provides a simple, nine-step method for improving one’s relationship with money. This book covers all the bases, whether you’re looking for advice on getting out of debt, making your first investment, building your wealth, or cutting costs with Robin’s trademark mindfulness approach.

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Kiran Smart Mohammed Mobin Mallick Founder & CEO AR Elite-Fit Aaryan Rajput Founder Coempt EduTeck Pvt. Ltd. Prateek Singh CEO & Co-Founder Enso Group Vaibhav Maloo Managing Director Kalon Agro Industries Pvt. Ltd. Bharat Ashok Pandit Founder PNJ Hub Paras Mittal Vice-President RSJ Food Industry LLP Pranav Joshi Founder Sealmatic Umar Balwa Managing Director Sun Multinational Group Swetang Sinha Group CEO Umami Meats Mihir Pershad Founder & CEO COMPANY NAME KEY PERSON DESIGNATION 27 www.businesstouchmagazine.com

VERSATILE BUSINESS LEADERS

Watch Globally

PNJ Hub: The Ultimate Solution for Middle-Level Management Services

PNJ Hub(Professional Networking Joint) is an innovative platform that aims to solve the critical problems faced by both businesses and professionals in middle-level management services. Founded in 2016 by Mr. Paras, a Chartered Accountant with over 15 years of experience in the corporate world, PNJ Hub is a one-stop shop for all your legal and business needs. It is an aggregator platform that brings together the best professionals who provide high-quality services at affordable prices. The platform caters to clients who are looking for a reliable and efficient solution to their legal and business needs. PNJ Hub provides the necessary tools and services to ensure that businesses and professionals can collaborate seamlessly and achieve their goals efficiently.

A UNIQUE MONITORING SYSTEM: SOLVING KEY PROBLEMS IN THE INDUSTRY

One of the critical problems that PNJ Hub is solving is the lack of feedback and status updates to clients. PNJ Hub solves this problem through its unique feature, “chat with an expert,” which enables customers to interact with the professional before assigning a task. Through its unique monitoring system, the platform ensures that the project is reviewed at every milestone, and a portion of the payment is made to the professional, making it a win-win situation for both parties. This system ensures that the project is delivered on time, and clients are updated on the status of their project regularly.

Another critical issue that PNJ Hub is solving is the security of the client’s documents. The platform ensures that all the documents, including KYC documents, are kept safe and secure by the professionals working on the project. This feature is crucial in today’s world, where data breaches and identity theft are significant concerns. The company ensures that the professionals hired through its platform comply with strict guidelines and adhere to high-quality standards.

In today’s world, it’s important to have access to the best professional services in a cost-effective and efficient manner. PNJ Hub, an aggregator platform started in 2016, aims to provide just that - the best professional services in the field of accounting, legal, merger, taxation, and corporate governance at an affordable price.

PNJ Hub is also solving payment-related issues faced by professionals. The platform ensures that professionals get paid on time and that the last milestone delivery is made without any delays. PNJ Hub provides a unique chat with an expert feature that allows clients to have multiple interactions with the professional before assigning them a task. This feature ensures that clients get high-quality services that meet their specific needs. Often, freelancers struggle to receive timely payments, and PNJ Hub ensures that professionals receive payment at every milestone of the project. This feature is unique in the market and helps set PNJ Hub apart from its competitors.

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PARAS MITTAL Vice President
Top-Notch To

PNJ Hub’s certification programs are unique in the market and help set the platform apart from the competition. These programs provide professionals with the necessary skills and knowledge required for middlelevel management services such as corporate management and legal dispute management. Unlike other listing platforms, PNJ Hub takes responsibility for the delivery of the project to the client and ensures that the professional’s skills are nurtured and enhanced.

SERVING THE CLIENTS WITH PRODUCT EXCELLENCY

The company is currently focused on providing legal and business needs for its clients. Freelancers can also be a part of the platform, hired by the company, or independently competing with the company, bidding for customer projects. PNJ Hub ensures that its customers receive high-quality service and that its professionals have access to a platform that nurtures their skillsets and talent.

UNIQUE INNOVATIVE PRODUCTS

PNJ Hub is coming up with exclusive products for its customers to help them with their tax rebates. One of the products targets 1000 customers with a salary of 30 lakhs for a tax saving of rupees 5,00,000 each. Another product is for businesses with a profit of 60 lakhs, which helps them save 15,00,000 in taxes. The company is aiming to target another thousand customers with these products totalling over 200 crores of tax savings, all legal. With PNJ Hub’s expert advice and guidance, businesses can optimize their tax savings and streamline their finances.

In addition, PNJ Hub offers a business restructuring service to help businesses with their tax rebate and various other facilities. They also have an asset management facility that they provide to their customers.

In further Business Touch Magazine editions, we will highlight more about these stupendous benefits.

BUILDING THE PNJ HUB

Solving industry problems requires a complex project to build and a tremendous amount of capital, research, and development to provide a seamless experience to the users. Being a chartered accountant with a professional background, Mr. Paras has spent 15 years in the corporate world, encountering several problems related to client and professional interactions. He came up with the idea of building a platform that provides professional monitoring so that it’s a win-win situation for both the client and the professional working on a project.

PNJ Hub started in 2016, created its prototype in 2017, and is continuously improving. It’s currently in its beta version, with functionalities available for middle-level services related to law and business requirements. PNJ Hub’s future expansion plans involve bringing in various new services and covering the global landscape. The platform’s complex project required a tremendous amount of capital, research, and development to provide a seamless experience to users. PNJ Hub is currently in its beta version, with functionalities available for middle-level services related to law and business requirements.

CONCLUSION

In conclusion, PNJ Hub is an innovative platform that offers a reliable and efficient solution to businesses and professionals in middle-level management services. The company’s future expansion plans will undoubtedly help it become the go-to platform for middle-level management services. Its unique features, certificate programs, and monitoring system set it apart from its competitors and tools ensure that clients get high-quality services that meet their specific needs. PNJ Hub is set to revolutionize the industry and is a platform to watch out for.

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10 Top-Notch To Watch Globally VERSATILE BUSINESS LEADERS

PRANAV JOSHI & PRANAV RANGANI:

Relentlessly Moving Forward with an Eco-Friendly Objective

India holds the 15th rank among paper-producing countries across the globe. The per capita usage of paper is around 11 kgs, opposite the global average of 56 kgs and the Asian average of 40 kgs. India’s share in world paper production is almost about 2.6%. The sector is divided into over 750 paper mills, of which only 50 have 50,000 TPA or more capacity. The industry is working at 89% capacity utilisation.

Disposable paper products are safe and healthy for the environment. Today everyone understands the importance of a healthy environment. Everyone in the world is doing their best to make this earth green and healthy to live in. RSJ is one of those millions who vision a green and clean earth. RSJ is one of the leading disposable paper product manufacturers. Their products are famous and wide-reaching because of their ethical business practices and high-end customer services. Disposable paper products are nature-friendly as well as user-friendly.

Today with Business Touch Magazine, we have one such Company which is spreading awareness and making its significant contribution to keeping our earth green and manufacturing eco-friendly products; RSJ was founded on the pillars of ethics, trust, values, commitment and accountability towards a clean and green environment and human society. The Company vehemently intends to provide safety standard products which prevent any alleged harm to health and promotes hygiene. The Company is a leading manufacturer and trader of disposable paper products.

A BRIEF OVERVIEW OF RSJ FOOD INDUSTRY LLP

Established in 2018 in the state of Maharashtra, India, RSJ Food Industry has astoundingly been a lead manufacturer of a wide variety of Paper Straws RSJ is also into trading of other disposable products such as Paper bags, Paper mats, Paper Containers and Lids, Paper Plates and Trays, Wooden Cutlery, Paper Tissues etc. Their products are in high demand due to their finest export quality and reasonable prices. Additionally, they ensure to rely on delivering these products to all their customers. Timely shipment is one of the main reasons they have gained a vast client base in the market.

RSJ Food Industry LLP is known to cater to the demands of its customer base agreeably. It is located at A/6, Kripa Commercial Complex, 106, 1st Floor, Sonale, Bhiwandi-421302. The business strives to make for a positive experience through its offerings. Customer centricity is at the core of RSJ Food Industry, and this belief has led the Company to build a strong market presence. Ensuring a positive customer experience and making available goods and services of top-notch quality are essential.

India’s leading B2B marketplace ensures that engaging in business activities is seamless for small and medium enterprises and large businesses. To assist their companies in reaching their potential clients, RSJ has its website: https://rsjindia.com/, an electronic portal that helps them display their products and services through a digital catalogue. RSJ has a wide range of product offerings, and the product/catalogue list includes the following:

White Paper Wrapped Straws

Colour Straws

Customised Paper Straws (Coloured and White), etc.

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THE PANDEMIC TAUGHT THE MASSES THE IMPORTANCE OF HYGIENE AND SAFETY

When it comes to harmonising by conserving the environment and generating additional business opportunities, there would be hurdles in the growth trajectory for start-ups. Start-ups must, nevertheless, structure themselves to achieve a balance between the two. The main driving force behind evolving the concept into a full-fledged manufacturing facility was the desire to provide clients with a selection of environment-friendly products. Social impact analysis on the products helps them to understand that eco-friendly products are the need of the hour. During the pandemic, people across the globe have realised the importance of hygiene and safety standards, which are paramount for human health and survival.

A BRIEF INTRODUCTION OF FOUNDERS- PRANAV JOSHI & PRANAV RANGANI

Pranav Joshi & Pranav Rangani are Co-Founders & Directors of RSJ Food Industry LLP.

The tagline of RSJ, ‘Let’s try one more time,’ shows obligation and concern towards the environment. A strong team with creative and managerial commitment is essential to building a solid market presence. Pranav Joshi, Co-founder of RSJ, holds a degree in International Business Innovation and Entrepreneurship from Russia. His robust experiences and insights in this field helped the Company tackle the practical challenges of the business.

Pranav Rangani, the Co-founder and designated partner of RSJ, holds a degree in Civil Engineering and brings experience in business management. The Company is backed by Qualified Lawyers, Chartered Secretaries and Managers who take care of the statutory compliances, production and distribution process. The Company has expanded its reach and now exports its products to the USA, Canada, and other countries.

FEW OF THE WELL-KNOWN PRODUCTS OF THE RSJ FOOD INDUSTRY

WHY PAPER PRODUCTS ARE MANY FOLDS BETTER

• Recyclable And Reusable

• Save Energy

• Eco-Friendly

• Durable And Comfortable

• Create A Unique Identity Of Your Brand

• Boost Your Brand Awareness

• Promote Your Brand Effectively

• Make Your Brand Prominent

• Acquire New Customers

• Make Your Customers Happy And Loyal

FUTURE PLANS OF THE RSJ FOOD INDUSTRY

The journey of RSJ has been prodigious. The firm continuously strives to capture new markets and create differentiated products with upgraded quality for its clientele. It always ensures advertising the awareness of using eco-friendly products. RSJ’s ideology of ‘One year, 365 possibilities’ motivates the team to work harder. RSJ is currently focusing on research & development, customer satisfaction and diversification. RSJ’s ultimate target is to eliminate 100 per cent of plastic usage worldwide. RSJ has been relentless in its efforts by creating an environment of sustainable development of our environment and Mother Earth through its environmentfriendly products, reaching its ultimate aim of a “PLASTIC FREE WORLD.”

6. Individual Wrapped Paper Straws (10mm, 8mm and 6mm diameter)

THE UNIQUENESS OF THE RSJ FOOD INDUSTRY

RSJ pledges to end the usage of plastic straws that take 500 years to decompose and are harmful to nature. Plastic straws and single-use plastic items, used and disposed of after single use, end up in landfills or our sea. This plastic waste takes more than 500 years to decompose. They slowly break into smaller and smaller plastics, also known as microplastics which fish and marine animals mistake for food, ingesting the plastic. It is also dangerous as it releases toxic chemicals like bisphenol – A (BPA) when it breaks down. It’s a very harmful toxin. Join our pledge, and let’s save our beautiful planet.

1. Paper Straws 2. Paper Bags 3. Paper Cups 4. White Paper Straws 5. Colour Paper Straws
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The Most Affordable Nations For Worldpackers Volunteers

People are itching to go out and see the world throughout the globe after being cooped up during the many border closures and lockdowns of 2020. All of us have spent many hours cooped up in our homes, captivated by images of exotic locales we’ve seen in books, movies, and online. A lot of seasoned travellers, like me, are anxious to schedule a journey as soon as borders open again. Many first-time travellers report feeling more energized than ever before to go out there and experience the globe.

People everywhere are striving to regain their financial footing. When you know where to go, seeing the globe doesn’t have to break the bank. There are many breathtaking places in the globe that not only make for fantastic holidays but also won’t break the bank.

So, if you’re searching for an inexpensive place to go, we have locations all around the globe that provide the most bang for your buck. All these destinations are accessible even on a tight backpacker’s budget and are rich in history, culture, and natural wonders.

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1. CAMBODIA

A trip to Southeast Asia won’t break the bank. Also, it’s stunningly gorgeous, teeming with culture and history, delicious cuisine, stunning monuments to faith, and breathtaking scenery.

The cost of travel in Cambodia is among the lowest in all of Southeast Asia.

The ancient Khmer temples in Siem Reap are a must-see, as are the museums and palaces in Phnom Penh, the country’s capital.

Hostels in Cambodia may be found for as low as USD 4 per night, and a full dinner will only set you back USD 1.

YOU MAY VOLUNTEER IN CAMBODIA WITH WORLDPACKERS IN THE FOLLOWING AREAS:

• Bring your English skills to Cambodia and help the kids there!

• Pepper farm in Kiriving, Cambodia, needs assistance with online promotion.

2. LAOS

For those looking for low prices in Southeast Asia, Laos is another option. This country has everything a history buff or nature enthusiast could want, from sparkling Buddhist monasteries to verdant woods and waterfalls.

In every corner of the land are magnificent monuments, palaces, temples, museums, and shrines.

There are also several beautiful waterfalls dotted over the countryside, including as the Kuang Si Waterfall, the Khone and Pha Pheng Falls, the Tat Sae Falls, and many more.

Many visitors to Laos are pleasantly surprised to learn that they can see the country on a budget of less than $30 a day, with entry fees to all the top man-made and natural sights costing just $1 or $2.

3. VIETNAM

The Southeast Asian nation of Vietnam deserves a spot on the itinerary of any gourmet who dreams of exploring the world’s greatest street foods.

Outstanding local markets in Vietnam provide a large selection of delicious, authentic food for the low price of a few U.S. dollars.

The limestone islands of Ha Long Bay and the world’s biggest cave, Hang Son Doong, are just two of Vietnam’s many renowned natural wonders. Vietnam is one of the cheapest Asian nations to visit because of the low cost of living across the board.

Take a trip to Vietnam and work with Worldpackers:

• Volunteer at a kids’ nonprofit where you can share your love of language and teaching with the next generation.

• You may be paid well to teach English in Vietnam.

THESE
PLACES TO VOLUNTEER: 33 www.businesstouchmagazine.com
ARE:

4. INDONESIA

Thousands of islands make up the Southeast Asian nation of Indonesia. This implies that the range of possibilities is enormous. Bali, the largest island, is a must-see, but if you’re looking for peace and quiet on your vacation, try Lombok, Java, or Sumbawa.

Regardless, a trip to Indonesia won’t break the bank. Instead than spending a lot of money on transit between islands, it’s smarter to focus on just a few and get to know them well.

It’s true that eating out at fine restaurants and staying in exciting hostels or guesthouses might add up to a daily budget of $30 or more, but if you settle on a good spot, you can get by on $20 or $30.

5. NEPAL

Nepal is one of the most cost-effective vacation destinations. Nepal is a fantastic destination for intrepid vacationers who yearn to see some of the world’s most off-the-beatenpath places. Outside of Southeast Asia, it is one of the least expensive Asian nations to visit.

Hiking up Mount Everest is a popular attraction for visitors, but it’s only recommended for the most physically and mentally prepared and financially secure adventurers. Trekking in less visited parts of Nepal’s highlands may be done on a budget.

Take advantage of the 10-20 USD per day accommodations and home-cooked meals offered by local hosts by becoming a Worldpackers volunteer.

• Volunteer on an organic farm in Nepal and see the country at the same time.

• Do some volunteer work in an orphanage in Kathmandu, Nepal.

6. MOROCCO

Morocco is one of the least expensive African nations. Not quite as inexpensive as Southeast Asia, but still among the lowest-priced destinations if you know how to avoid the typical tourist spots.

Marrakech, a city in Morocco, is an excellent illustration of this kind of place because to its chaos and vibrancy. The vast Medina and trips to the Sahara and the Atlas Mountains are the main draws for tourists.

If you avoid the tourist traps at Jemaa El Fnaa, the major tourist square, and dine at a local restaurant, you may save a lot of money in Marrakech. Tours of Morocco are cheap, and so are the hostels there (the average cost is between $8 and $10).

The Blue City of Chefchaouen, the west coast beaches, and the mountains and desert must all be seen.

• Spend time as a hostel volunteer in Marrakesh, then explore the Saara region.

• Donate to a Moroccan animal sanctuary

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7. NICARAGUA

Central America is an affordable vacation destination for Americans.

Some of the cheapest countries to visit from the United States are in Central America because of the low cost of living there. To put it simply, Nicaragua is a stunning nation.

Visitor hotspots include the party beach town of San Juan del Sur and the cities of Leon, Managua, and Granada.

Volcano trekking and sandboarding, exploring towns with Spanish colonial splendour, and surfing on isolated beaches are all popular tourist activities in Nicaragua.

• Omepete Island Hostel in Nicarágua is a great place to learn about permaculture while lending a hand in the garden.

• Put in some late hours at a Nacarágua hostel.

8. EL SALVADOR

El Salvador is tiny and noted for its natural beauty; it is also one of the cheapest nations to visit in Central America.

Lakes, volcanoes, beaches, and waterfalls abound, and there are also intriguing Mayan ruins and archaeological sites to check out.

This makes El Salvador a fantastic travel destination for anyone interested in both culture and the great outdoors. The native cuisine is often the lowest option, as is the case in most Central and South American nations.

Big plates of local fare may be found for as little as USD 3, whereas the average cost of a dinner of pizza or burgers from the United States is closer to USD 10. If you’re on a tighter budget and visiting El Salvador as a volunteer with Worldpackers, you can get by on USD 30 a day.

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Sealmatic Files DRHP With BSE SME

05th January 2023

The strong performance of past SME IPOs has spurred investors’ interest, with 87 small and medium enterprises (SMEs) garnering Rs 1,460 crore through initial share sales in the first nine months of the year 2022.

The industry data showed that this was way higher than 56 companies that had raised Rs 783 crore through an initial public offering (IPO) in 2021.

“The bearishness does not impact the SME segment in the market, and investors are looking forward to the healthy pipeline of IPOs going forward. Many companies have filed or planning to file their documents for listing on the BSE SME and NSE Emerge platforms,” Umar AK Balwa, Managing Director at Sealmatic India Ltd, filed their DRHP on January 05th 2023, with the BSE SME platform and have interesting facts to share with us:

BEFORE I GO INTO ANY OTHER SPECIFICS, WHY ARE YOU CONSIDERING GOING PUBLIC THROUGH THE BSE SME PLATFORM?

Umar Balwa:

As you know, we have filed our DRHP with the BSE SME platform on the 5th of January, 2023. Subject to regulatory approvals, we may decide to go public in the near future.

The SMEs benefit from greater credibility and enhanced financial status leading to demand for the company’s shares and higher company valuation. Equity financing provides growth opportunities like expansion, mergers and acquisitions, thus being a cost-effective and taxefficient mode.

HOW DO YOU FEEL ABOUT THE SME LISTINGS THAT HAVE GAINED TREMENDOUS SUCCESS IN THE RECENT PAST?

Umar Balwa:

To my experience and understanding, this is just the beginning of the history being written about the pivotal role the SME segment will play in the country’s success in becoming a global manufacturing hub. There are about 15000 high-quality SMEs located across the length and breadth of the country, engaged in high-end manufacturing in every field possible. There is going to be an industrial revolution in our country in the coming years, making India a powerhouse like Germany, Japan and South Korea.

There are about 394 companies listed on the BSE SME Platform, which have raised Rs. 4,263 crores from the market and the total market capitalization of 394 companies as on October 07, 2022, is about Rs. 60,000 Crores. This says it all.

HOW DO YOU VIEW THE FUTURE OF THE SME SECTOR IN INDIA?

Umar Balwa:

To my knowledge, the SME sector is the backbone of India, but before that, I would like to mention the SME industry of Germany, known as the Mittelstand.

The Mittelstand is often described as the heart of Germany’s economy –and rightly so, given that mid-sized companies in Germany account for the largest share of the country’s economic output, employ about 60 per cent of all workers, provide crucial training, and contribute significantly to corporate tax revenues in Germany.

Similarly, in India, the Small and Medium Enterprises (SMEs) sector is a significant stakeholder in the Prime minister’s vision of Atmanirbhar Bharat towards building a $5 Trillion economy.

Recently we have seen growth in the SME sector because of various initiatives taken by the Government of India and the Reserve Bank of India (RBI).

SMEs are the foundation of India’s economic growth and account for at least 30 per cent of the country’s GDP.

Furthermore, the sector employs nearly 100 million people, making it the second largest source of employment in the country after agriculture. Thus, the development of this sector is critical to India’s future.

What is the capacity utilization in the current operational manufacturing unit of Sealmatic? What is the capacity of the proposed second unit, and give us more detail about the expansion plan?

Umar Balwa:

Our current capacity utilization is about 85%. In the financial year 2021 - 2022, we clocked a revenue of about Rs 43 crore, and we can scale it up to Rs 55 crore from the current unit. We are in the process of setting up a second unit to add an additional capacity of 60%, for which we have already entered into a lease agreement, and the unit will be operational by the middle of the next financial year.

TELL US ABOUT THE PROPOSED COST OF THE EXPANSION PLAN?

Umar Balwa:

The total funds required is about Rs 40 crores for plant & machinery, research & development, marketing and sales activities in India, the Middle East, Europe and the USA, working capital and other corporate expenses, which are mentioned explicitly in our DRHP, subject to regulatory approvals. We are in the process of complying with the statutory process to get the approvals as per the guidelines of the capital market regulator.

10 Top-Notch To Watch Globally VERSATILE BUSINESS LEADERS 36 www.businesstouchmagazine.com

Please tell us about Sealmatic’s global position in advanced sealing solutions in the process industry. Kindly tell us about your journey into this industry so far.

Umar Balwa:

My journey in the mechanical seals business started after graduating from the University of Bombay (as Mumbai was known back then) in 1988. After that, we entered into a joint venture with Feodor Burgmann of Germany with a 51:49% equity partnership. The date of the signing of the Joint Venture was November 10th 1993.

After investing 17 years in the mechanical seal business, we ended our joint venture with the German partner in 2007 due to a larger conglomerate’s takeover of the parent company in Germany (Freudenberg Group).

Coming to Sealmatic, we are a global player in the business of sealing technology, committed to cutting-edge solutions for the critical process industry. We have deliveries to more than 45 countries across the globe.

Over the years, there has been a vacuum in the market, which was totally dominated by the three big boys of the mechanical seals market. We wanted to change that and prove to the industry that an equally competent indigenous manufacturer can supply high-end sealing solutions at a competitive price.

Today we are approved by major companies such as IOCL, RIL, BPCL, HPCL, EIL, BHEL KSB, Sulzer, Andritz, Ebara and many other essential customers.

Besides the three big boys, Sealmatic is the only company with the distinction of supplying mechanical seals as an OEM for 660 MW supercritical thermal power plants.

WHAT ARE THE MAJOR FACTORS DRIVING THE GROWTH OF THE MECHANICAL SEALS INDUSTRY?

Umar Balwa:

Over the years, the capabilities of the Indian industry have improved dramatically and paved the way for the induction of state-of-the-art technology in all the industrial fields, viz oil & gas, refinery, power, petrochemical, chemical, pharmaceutical, fertilizer, pump & pump & paper, shipping, aerospace etc. This is the core sector, and if you look at India, the economy is growing at a rapid pace. The Government of India has given a special impetus to investing considerable amounts in the country’s core infrastructure, which will create heavy demand for mechanical seals for many decades to come.

More and more stricter legislation has made it mandatory for industrial plants to employ mechanical seals for all their rotary equipment. Thus, creating demand for sophisticated mechanical seals for rotary equipment.

WHAT ARE THE MAJOR FACTORS THAT SET SEALMATIC APART FROM OTHER PLAYERS IN THIS SEGMENT?

Umar Balwa:

The mechanical seal industry is highly competitive; it requires a huge amount of time, money and energy to reach a certain level. Generally, a period of 10 years is needed to attain maturity in this industry. When we started out in 2011 after ending our joint venture of 17 years (2007) with Feodor Burgmann of Germany, we consciously made efforts to set up our plant to match international standards and specifications.

Not only in terms of employing hardware and software but also implementing very high international standards and a highly trained team, we are proud to state that we have had more than 100

visits from international customers to our premises, and all of them have said simply one thing – “state of the art international facility”.

We are proud to state that we are the only Indian company with the distinction of API Q1, ATEX & EU FDA certification for mechanical seals.

Besides, again as a domestic mechanical seal company, we are the only one which employs FEA & CFD for hardcore design and development of mechanical seals.

We have tools such as MSD (Mechanical Seal Dictionary), SSG (Seal Selection Guide), AKH (Application Know How) and many other tools which have catapulted Sealmatic into the bigger league of international players. We are perceived and respected globally as a high-quality mechanical seal company.

What kind of market share are you looking at in the future and are you satisfied with the success of Sealmatic?

Umar Balwa:

We are well placed with our infrastructure to fulfil our goals of becoming one of the top three mechanical seal companies in India, and we aim to achieve a 15% market share in the coming years. The current market size for mechanical seals in India is Rs 1900 crores and is expected to grow to Rs 2800 crores by 2028. Similarly, the global market size for mechanical seals is USD 4.5 billion and is expected to grow at a CAGR of 5% in the coming years.

Here is wishing you all the best towards your business expansion plans, and I am sure that you will get your approvals from the capital market regulators for getting listed on the BSE SME platform.

Umar Balwa:

Thank you very much, and I take this opportunity to express my gratitude to all the stakeholders of Sealmatic; special thanks to the Sealmatic family of 240 plus employees. We look forward to growing, and together let us build India as a global industrial hub.

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UMAR BALWA Managing Director, Sealmatic

10 Top-Notch To Watch Globally VERSATILE BUSINESS LEADERS

Vaibhav Maloo, Managing Director of Enso Group, Believes in Ethics to Rise Above the Rest

Presently the company oversees several lines of business – most of them being unrelated to each other. Creating a diversified company is beneficial, as it provides several distinct product lines and customers, shielding the company from any economic downturns or business instabilities. As there are multiple industries and exposures, shareholders can benefit from a diversification strategy and be protected from negative exposure. Nevertheless, it also limits the positive aspect potential, as the presence of several businesses means playing safe and offsetting exposures.

In general, diversifying with similar products or services and selling them to a familiar customer base is not as risky as other business growth strategies, such as creating a product for a new market. Diversification can be a great way to maintain business stability. It allows you to hedge your bets, and if one of your markets or products fails, you have another to back you up until you recover. We have one such multinational conglomerate with Business Touch Magazine, Enso Group.

OVERVIEW OF ENSO GROUP

Enso Group is a conglomerate erected on the foundation of worthy Indian values. It was incepted in 2005, after which the company grew enormously by expanding across various critical sectors in over 10+ countries. Enso group aspires to excel in every industry and set new benchmarks. The very word ‘Enso’ epitomizes strength, elegance, and one-mindedness. It actually resonates with the motivation behind the group idea.

The business was started by acquiring oil blocks in Jordan for exploration and production. The company’s great success, which developed a vision for the future, boosted confidence to expand and diversify into various other sectors to become an international conglomerate.

BUSINESSES UNDER THE ENSO GROUP

1. Energy

The Enso Group is an outstanding Indian private sector group in the global oil and gas scenario. They have successfully established a presence in the upstream segment of the sector. Their Oil & Gas Division is exploring crude oil and natural gas and developing the conventional petroleum potential worldwide.

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As the Enso Group is transforming ideas and materials into valuable and life-changing things, they have forayed into mining too. They have acquired the skill and know-how to ensure maximum benefit and optimum use of natural resources. They have the best geologists, geophysicists, metallurgists, and other mining technical personnel in their team for their professional expertise.

The world population is growing fast, and longer life expectancy, lower mortality rate, and numerous factors have sited immense stress on healthcare services. Furthermore, the overall socio-economic development has given rise to changing lifestyles at home and work, resulting in a pattern shift in the health and pharmaceutical segments.

The real estate sector has grown with increased demand for office and residential spaces. A robust market, attractive opportunities, and growing investments have proved to be the groundwork for the sector. The Enso Group envisions driving the next wave of growth by taking an innovative view of India’s growing cities.

Enso Global Trading is an international trading solutions provider specializing in industry-related products. The company trades in the following products:

• PETROLEUM PRODUCTS (Crude Oil, Diesel, Jet Fuel, LPG, LNG)

• AGRI PRODUCTS (Wheat, Corn)

• METALS PRODUCTS (Gold & Precious Metals)

• FERTILIZERS PRODUCTS (Urea, Potash)

COMPANIES UNDER THE ENSO GROUP

• Enso healthcare

• First nations potash

• KadaNEFTE gas

• Enso global trading

ABOUT VAIBHAV MALOO, MANAGING DIRECTOR OF ENSO GROUP Vaibhav Maloo, Managing Director of Enso Group, studied business throughout his collegiate life and interned in three places. All of them were business-related learning experiences, clearly showing his enthusiasm for business from the beginning of his career. Two of his internships were during his working career in Enso, which he handpicked to get the best exposure to learn and practice particular skill sets.

Mr. Vaibhav always wanted to enter the business, and since his school days, so he also wanted to pursue business education primarily. Besides, he saw a clear opportunity like a virgin territory in India, which seemed to be a perfect growth opportunity for him. He used his business as a vehicle to fill in voids in Indian and global markets. However, he believes he still has a long way to go and many plans to implement, more toward the B2C end.

THE BIGGEST CHALLENGES FACED BY ENSO GROUP

“Financing for an Indian group is tough to get from overseas unless you are among the top few groups in the country. Big bucks are not available in India due to weak INR. The quantum of funding requirement is substantial in the energy business, and it is not a favorite line of investment choice by top funds. This is owing to the green revolution. That is why we have hedged our risks by diversifying.” – Says Mr. Vaibhav.

WHAT SETS THE ENSO GROUP UNIQUE FROM THE CROWD

• The diverse experience of our experienced and skilled employees.

• Knowledge of the local conditions gained by strategic partnerships.

• High standards of work ethics.

• Ability to manage operations in diverse industries and economies.

• Ability to mobilize financial resource

They, in fact, were contacted by esteemed Russian entities to help out with manufacturing Sputnik V and Light, so the pandemic became a business opportunity.

“I think the quality of products and services is of paramount importance. Our products, regarding Covid-19 vaccines or offerings of our former businesses, were all top-notch, and hope we are blessed to have quality partners who sustainably do things.” Says Mr. Vaibhav

EMBRACING ENVIRONMENTAL CONSCIOUSNESS ACROSS BUSINESSES

At Enso Group, every company is dedicated to providing a safe, healthy, clean, and ergonomic working environment for all its stakeholders and society. They strive to prevent the wasteful use of natural resources and improve the environment, predominantly concerning natural resources. They balance the effect of climate change in all activities. Their process intends to construct an environment where businesses can prosper, keeping in mind economic, social, and environmental sustainability.

PRACTISING BUSINESS ETHICS TO RISE ABOVE THE REST

Enso is committed to becoming a name of reputation across the world. Every employee, associate, and business partner must feel proud to connect with Enso. The company effectively addresses the complex relationship of good corporate performance, social development, and environmental protection to achieve the same. At Enso, they instill a culture of maintaining accountability and ethical integrity while pursuing market opportunities. They go beyond the organization’s boundaries and encourage all stakeholders, including the supply chain, to be sustainable.

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2. Mining 3. Health Care 4. Real Estate 5.Trading

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VSN Raju, CEO, COEMPT –Taking Indian Education To New Heights

There is no contradiction that without technology, this energetic and vibrant world as we see it today would have never been possible. And we see this histrionic effect of technology in every sector, starting from basic immediate necessities like housing, farming, electricity, and medicine to more longterm affecting sectors like Governance, Defence, and Education, the list goes practically endless. Today we will inspect the effect of technology on the most long-term impactful sector for any nation - “Education”.

With technology-based teaching, learning and examinations, there is no dependence on a physical institution or an instructor or need to follow traditional means of conducting exams and evaluation of answer books. Students can learn and self-assess at any point in time and evaluators can proctor or assess answer books from the comfort of their homes. Technology now helps students get easy access to all the information related to their field of study similarly technology is also helping educational institutions in transparent exam conduction and evaluation. Also, because of this minimum dependency, students and evaluators from any geography are empowered in their teaching, learning and evaluation endeavours. Today at Business Touch magazine we have “VSN Raju, CEO, Comept Edu Teck” who has rich and dynamic experience working with Indian educational institutions for 20+ years in designing, developing and delivering turnkey projects related to teaching, learning and examination that were path defining in ensuring good governance.

INFORMATION ABOUT COEMPT EDUTECK PVT LTD

In the commemoration of the Late M.P. Chary, Founder, who was an expert with vast knowledge and experience in establishing companies in the present time is dealing with a variety of businesses like Biotechnology, High-end diagnostics, Software Development, and Technology-enabled Teaching, Learning and diamond jewellery Examination Solutions. Coempt Edu Teck Pvt. Ltd., has over 20+ years of experience in offering excellent cutting-edge technology solutions in the education sector. They are the most preferred company by educational institutions to provide teaching-learning and end-to-end examination solutions.

Fortunately, India is a tech-savvy nation in the world where the data charges are the lowest and India is also the second largest after the USA in the field of e-learning. To evolve and mandate new policies pertaining to using ICT interventions in teaching-learningevaluation examinations, policymakers need to recognize the use of e-learning, online assessments/examinations, and onscreen evaluations in the regular course of academics. This will also ensure the availability of state-of-the-art ICT infrastructure for students and teachers that will ensure their growth without being stressed.

SERVICES OFFERED BY COEMPT EDUTECK PVT LTD.

Headquartered in Hyderabad, Telangana, Coempt EduTeck Pvt. Ltd., (COEMPT) (estd. 2000) has been providing technologybased solutions to the education sector over the past 20+ years. The company is especially active in the e-learning and end-to-end examination solutions space.

1. ON MARK – ONSCREEN MARKING SOLUTION

Examination management projects necessitate a customer-centric approach i.e., a thorough consideration of the exceptional requirements of the university and educational institution. One needs to observe the flexibility in designing a customized solution, and the abilities to manage a large scanning and onscreen evaluation while ensuring top-level data security.

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VSN RAJU CEO, COEMPT EDUTECK Pvt. Ltd.
10 Top-Notch To Watch Globally VERSATILE BUSINESS LEADERS

Having handled various examination projects, COEMPT can ensure the successful delivery of onscreen evaluation projects. COEMPT’s unique OnMark – Onscreen Marking Solution is distributed using a feature-rich and user-friendly software application. Post implementation of the Onmark Solution there is precise training provided to all the stakeholders that ensure education institutions practice good governance and also helps them optimize examination-related cost.

2.

ONEX – END-TO-END EXAMINATION SOLUTION

COEMPT’s online end-to-end examination administration can be fully tailored according to the dynamic needs of educational institutions. OneX Solution has a bouquet of critical modules like Pre-Exam, Question Paper Development & Management, Secured Question Paper Delivery, Onscreen Marking, and Post-Exam the education institutions to select from based on their need. OneX has been implemented in some of the top-notch educational institutions and has demonstrated its excellent quality.

3.

TEKEDGE - COMPREHENSIVE ENGINEERING TEACHING & LEARNING SOLUTION

The shortage of excellent faculty is being felt intensely by many colleges, and many colleges are forced to opt for less experienced and qualified faculty. TekEdge comes in handy for engineering colleges as by using the TekEdge solution they can ensure that faculty can effectively deliver their classroom sessions. By using TekEdge faculty can ensure that the core-engineering concepts are imbibed in students which is important for them to progress in their course.

4. EDULIB

Digital India Mission is transmuting India into a digitally sanctioned society and a knowledge economy. This has also led to affordable internet connectivity in remote regions of the country which is good news for the education sector, as it has now made it possible for colleges to use ICT effectively in their teaching-learning endeavours. EduLib is designed to empower engineering colleges to overcome the above-cited challenges, as it aids the careful implementation of learning methods that help them in their academic chase.

WHY CHOOSE COEMPT EDU TECK?

COEMPT EDU TECK specializes in the above areas and has over two decades of progressive experience in delivering large turnkey projects that have empowered many educational institutions. They have virtually been witnessing the PreCoronavirus, During-Coronavirus and Post-Coronavirus environments. During the pandemic, they have supported over 100 thousand teachers/students through EduLib which is a portal-based teaching-learning solution free of cost. They have also empowered universities to conduct ‘AI Based Online Exams’ for their regular course assessments/exams.

COEMPT EDU TECK is glad to have seen the whole education sectors evolve from floppy/CD based to portal-based deliveries to the current new-age mobile-based deliveries that are used to enable effective teaching, learning and examination. Hence, they have upgraded software solutions regularly to suit to dynamic needs of the educational institution. COEMPT EDU TECK has been instrumental in empowering over 50 universities in their teaching, learning and examination endeavours. Over, 2 million students and many teachers have benefited through solutions. COEMPT EDU TECK also offers CBT in hybrid mode for maximum impact, and for conducting recruitment exams and tests.

COEMPT EDU TECK has evolved unique and dynamic delivery systems to suit Indian conditions. The delivery ranges from LAN based to SAAS based from which consumers can opt based on their needs and budgets. All solutions can be customized to suit dynamic client needs. The USP of COEMPT EDU TECK teaching, learning and examination solutions is that they have been calibrated in the Indian context after taking inputs from industry, tech gurus and leading academicians. The solutions are designed to work efficiently and accurately with minimal human interference across varied geographies.

INFORMATION ABOUT VSN RAJU, CEO OF COEMPT EDUTECK PVT LTD.

VSN Raju is an excellent engineer and has done electronics and communication engineering at the University of Madras. He also holds a massive experience of about 20+ years in the field of sales, marketing, and operations. At present, he is the Director & CEO of COEMPT EDU TECK PVT. LTD., is one of the top teaching, learning, and examination solution providers in India.

Mr. Raju used to be a successful business partner of the National Institute of Sales (NIS) and then he joined COEMPT EDU TECK PVT. LTD. During this journey, he was allied with many promising ingenuities which involved both students and corporate enterprises. He also operated with Andhra Electronics Limited, leading different marketing initiatives specifically in the government and the export space.

COEMPT EDU TECK PVT. LTD., under Raju’s supervision, had also worked with NASSCOM to assess entry-level talent for IT-BPM companies. For the various progressive initiatives undertaken under his leadership in the education enablement space, Raju has bestowed the title of ‘Emerging Leader’ at the ‘The World’s Greatest Brands & Leaders Asia & GCC’ summit.

CONCLUSION

Moreover, the global education sector has finally come to age and evolved quickly in a pandemic where all stakeholders are committed and focused on constantly adapting new-age technologies in all walks of education deliveries and being better prepared to handle future contingencies. Most of the academic fraternity has realized that technology is not an alternative but a means to achieve tangible academic outcomes. Hence, according to Mr. Raju technology complements the traditional system if it is looked at with an open mind.

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Starting a business requires more than just a great idea

Being adaptable and well-organised are essential traits for anybody looking to excel in the professional world today. Many would-be company owners assume they would immediately begin producing money by turning on their computers or opening their doors.

This will not happen if you take your time and carefully map out the stages to success in your company endeavours. It does not matter what kind of company you intend to launch. If you follow these nine guidelines, you will have a far better chance of being successful.

KEY TAKEAWAYS

• Analytical pondering, dogged preparation, and meticulous record-keeping are all necessities when launching a company.

• To succeed, you need to know what other people in your industry are doing, and then either copy or build upon what works for them.

• Expect to put in more hours than you would for an employer, and be ready to give up some of your free time as a result if you want to start your own business.

• Customers’ loyalty and continued patronage may be earned and maintained via consistent, high-quality service.

• Ensure that you, as well as your company, are prepared for launch.

• Equity Crowdfunding

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9 TIPS FOR GROWING A SUCCESSFUL BUSINESS

1. Get Organised

You need to be well-organised if you want to succeed in business. Using this method, you can get more done and remain ahead of the game. Making a list of things you need to do daily is an excellent approach to staying on top. Mark off tasks when they are finished. In this way, you can be sure that you are taking care of everything necessary for the continued success of your company.

To facilitate more orders, there are several SaaS applications available. Slack, Asana, Zoom, Microsoft Teams, and similar recent features.

However, a company’s organisational needs may be satisfied using a free programme like Microsoft Excel.

2. Keep Detailed Records

In order to succeed, every firm must maintain accurate records. Taking this step may significantly enhance your understanding of the company’s financial health and the threats it faces. This knowledge will give you a head start in devising solutions to these problems.

Most companies today maintain dual archives, one on-site and one in the cloud. A company may stop worrying about data loss if its records are regularly uploaded and backed up. The paper copy is kept as a safety measure, although it is more often used to verify the accuracy of the digital version.

3. Analyse Your Competition

Competing for a prize might spur you to become your best. If you want to succeed, you cannot be scared to look at what others in your field are doing. After all, maybe some aspect of their company model is successful and might be applied to yours to increase profits.

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Tailoring your analysis of competition to the specific industry you’re looking at is essential. If you run a restaurant, you may learn a lot about your competitors by eating at their establishments and asking other patrons what they think. However, maybe you own a chemical firm with far more restricted access to its rivals. Business experts and accountants should be consulted in this scenario to examine not just the public face of the firm but also any financial data that may be obtained.

4. Understand the Risks and Rewards

Taking measured risks to advance one’s enterprise is essential to achieving success. What might go wrong? is a pertinent inquiry. The worst-case situation is known if you can answer this question. Now that you have this information, you may make the type of measured gambles that often pay off well.

When launching a firm, weighing the potential benefits against the potential drawbacks is essential. Was the severe economic dislocation of 2020 an opportunity for you (maybe the production and sale of face masks) or a hindrance (the launch of a new

restaurant during a period of social withdrawal and limited seating)?

5. Be Creative

Find strategies to improve your company and consistently set it out from the others. Recognise your limitations and be receptive to other viewpoints and strategies.

Several potential entry points might result in increased profits. Consider Amazon as an example. The firm expanded from its original focus on selling books online to become an industry powerhouse. Not many people guessed that Amazon’s Web Services branch would become so profitable. After Jeff Bezos’ departure as CEO, the man in charge of Amazon Web Services was promoted.

6. Stay Focused

Rome was not constructed in a day, which is valid here. Not everyone who starts a company sees an instant increase in revenue. To get recognition, you must be patient and focused on the immediate tasks at hand.

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For the first few years of operation, many small company owners must first repay their initial expenditures out of income. To be “in the red” is to be in this predicament. Being “in the black” means that your revenues exceed your expenses, which means that you are profitable.

Still, if the company has not turned a profit after a significant amount of time, it is essential to investigate whether or not there are problems with the product or service, whether or not the market still exists, and whether or not any other factors are impeding the company’s progress.

7.

Prepare to Make Sacrifices

A lot of preparation work is involved in opening a company, but the real job doesn’t start until you have had customers through the door. Successful entrepreneurs often put in longer hours than they would if they were employed by a company, which might force them to sacrifice time with loved ones.

The old cliché that business owners labour nonstop may be accurate for those who are dedicated to their

WHAT IS THE FASTEST WAY FOR A BUSINESS TO GROW?

company’s success. There is no shame in having a regular paycheck, yet many entrepreneurs fail to account for the time and energy it takes to build and sustain a successful business.

8.

Provide Great Service

Many companies do well, but they forget how crucial it is to treat their customers well. Customers are more likely to return to you rather than your rivals if you consistently exceed their expectations in terms of service quality.

The quality of customer service provided by an organisation is often the deciding factor between success and failure in today’s cutthroat business climate. As the adage goes, “undersell and overdeliver,” and here is where a company owner should put it into practice.

9. Be Consistent

Making money in business requires consistency. Daily dedication to your success strategy is essential. Doing so will plant the seed for a lifetime of good behaviour that will serve as a financial boon.

WHAT MAKES A STARTUP SUCCESSFUL?

When it comes to expanding their businesses, owners and employees often have little say in the matter. However, there are ways in which lean operations may speed up a company’s expansion. These include concentrating on a narrow range of products, expanding rather than contracting, and offering a glaring advantage over the competition.

HOW DO YOU INCREASE SALES?

There are some potential avenues for expanding market share. You may use several strategies, such as increasing your advertising budget in areas where it has shown to be effective, providing incentives for referrals from current customers, creating a consumer-facing email list, and many more. The bottom line will take a hit if you decide to extend your product range only to have it underperform.

Startups may effectively offer returns to stakeholders, assuming business success is defined as such. The most significant new businesses can scale quickly because they provide something many people want. The startup is nimble, aware of its position in the market and its financial health, and prepared to seize opportunities as they arise.

THE BOTTOM LINE

U.S. Bureau of Labor Statistics projections for 2021 show that around 20% of startups fail during their second year in operation, 45% within their fifth year, and 65% within their tenth. However, just 25% of new enterprises survive for 15 years or longer.

These nine suggestions are a solid starting point if you want to be in the top 25%, but they are not comprehensive. As a company owner, you must be willing to learn and adjust constantly

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