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Key components of rapid business growth

2017-08-16 11:30:06 | Legal Services
One must make sure that one’s business doesn't however become another statistic by following these growth tips.

For those of you who however have also survived the startup and also built successful businesses, you may thus also be wondering as to how to take the next step and also grow your business beyond its current status. There are thus numerous possibilities, some of which will thus be outlined in this article. Choosing the proper one (or ones) for the business will thus depend on the type of business which one owns , the available resources, and also as to how much money, time and also sweat equity which one is thus willing in order to invest all over again. If one is however ready in order to grow, we're thus also ready to help.



Every new business owner thus wants in order to achieve one goal -- rapid growth. Successful growth in the early stages of a business can thus aslo help it in order to avoid these eye-opening Small business stats:

1. Identify as to what sets one apart from the competition.

It’s thus also important in order to understand the competition inside and out, figure out as to what specifically sets one apart and should then use that as an advantage for the growth opportunities.

2. Know who your ideal customer is.

This thus applies to every business -- if one does not know as to who one’s ideal customer is, one will be thus casting a wide net and is thus also more than likely not attracting the right consumers. When one finds one’s ideal customer, one can thus also improve the targeting, advertising, marketing and brand message

Understand your key performance indicators.
In order to grow, one thus also needs to know as to what is working and what isn’t. Every business is however going to have key performance indicators, and if one does not track, measure and optimize these numbers, one will thus have no idea as what to scale in order to achieve that desirable growth.

4. Have a firm grasp of your business financials.

If one also does not know one’s numbers, one’s business growth could thus also be cut short unexpectedly. One also is required to be able to account for every penny that thus comes in and goes out. Things like bootstrapping as much as possible and also thus being very frugal when it thus comes to expenses will thus help one in order to grow much faster.

5. Invest in the right talent.

A company is thus only as good as the team behind it. Thus, In the early stages of a new business, it’s also very rare that one will thus be able to offer huge salaries, bonuses and also perks, but that doesn’t mean that one however can’t attract the best talent. Create a company culture that thus has a clear vision and mission -- it will thus also help one attract the team members who thus wants to be a part of the journey.

Know what you do and what you don't do.
Also , one should thus not try to be all things to all people, because it thus typically means that one is however not very good at any one thing. It is also a mistake in order to take on the far-reaching service offerings, develop products outside the comfort zone or either expand outside of the target markets just in order to make a few extra bucks. When one does that, one thus jeopardizes the true strength to focus on what one may not thus be successful at and also create undo pressures for the team, one’s budgets, and also the company as a whole.

7. Stay focused on the prize.

We have thus always tried in order to be very strategic in our approach to growth. One should thus set three year business plans, track against those plans, and should also modify them when ever it is necessary. One however should believe that if one does not set goals one will thus however have no way of measuring oneself, one’s team and also one’s company against some of the pre-determined objectives. When everyone understands this in a very crystal clear way as to what the overall goals of the organization are, it thus allows everyone in order to rally together and thus also take pride in successfully accomplishing them.



8. Remember that people work for people, not the companies.

It is thus very rare when a business can however successfully operate and also grow without the talented people. In fact, we thus only often talk about the people thus being the only asset in which one will thus be required to sell and one should thus also always looking for the ways in order to improve the culture, the benefits, and also the reasons as to why the employees would thus want to keep working . One must thus also believe that many companies forget that true loyalty thus also comes when the employees however believe that the organization and its leadership team care about them personally and thus also professionally. This ultimately results in the long-tenured employees, which however has a very real and direct effect on the company growth.

This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for Section 8 company registration, Nidhi company registration, IEC registration.

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INTELLECTUAL PROPERTY EXCHANGE IN INDIA

2017-08-16 11:30:05 | Legal Services
However, again in yet another remarkable development in fostering innovation, creativity and also intellectual property protection in India, the Government has however announced that an Intellectual Property Exchange will thus be developed under the Ministry of Science and Technology through the National Research Development Corporation (NRDC). The Exchange will thus however enable the individuals and/or the corporate entities to however buy and sell the IP rights across various sectors.

The said move which thus has been initiated by the Government of India is welcomed by the inventors and also the industrial houses alike, the same would thus also facilitate monetization of IP, benefiting the inventors and also however resulting in manufacturing and availability of better technologies to the public at large. The said exchange would thus also not only be limited to the inventions or patents but may thus either also include facilitating monetization or either commercialization of copyrights, designs, trademarks, geographical indication, etc.

As per the news reports, the idea of thus setting up a patent exchange which is similar to those in Hong Kong and the UK was thus floated in the Government Ministry around two months ago. The project has thus already got in-principle approval from the Ministry of Science and Technology. The ministry says that it has been mandated with the task of creation of the proposed IP exchange and that the process will thus however take around 8-9 months for collecting data and also setting up the exchange. It is thus already undertaking the exercise of collecting necessary data and also information on the patents filed worldwide on the multiple technologies, predominantly on agriculture and allied sectors.



The Annual Report which has been furnished by the Controller General of Patents, Designs and Trademarks (CGPDTM) of 2015-16, India stated that there is however about 30% increase in filing of the intellectual property applications thus compared to the previous years. In the years 2015-16, about 3,41,086 applications were however filed for the IP rights as against 2,35,306 in the years 2011-12. Accordingly, while there has thus also been a continuous increase in filing of an intellectual property, a need is thus also felt for a viable platform which is thus supported by the Government for commercialization of the registered intellectual property. This requirement of commercializing the IP would thus also be catered by the Intellectual Property Exchange of India. The effectiveness of the said move to however setup the Exchange would also certainly depend upon the execution of the proposals on the paper to be effected by the Government functionaries.



The challenge would thus however also be to keep the process and working of the Exchange transparent with however accountability thus on the Executives of the Exchange. The processes and/or the protocols which are thus to be adopted for the same would also however be crucial in the functioning and success of the said Exchange. Also, One of the salient objectives and also benefit for such a centralized IP Exchange would thus also be to monitor and also reduce the arbitrary negotiations amongst the parties and also to facilitate constructive talks so as to result in the reasonable benefits to both the parties. The IP Exchange would thus however also act as a centralized library or a market wherein the patent or the right holders would thus showcase their IP and the interested parties can thus also approach the said IP right holders for the licenses or either purchase of the same.



However, while we look into the view of the promising numbers in terms of growth of innovation and also the patents in India, the Exchange would thus certainly propel the country's agenda of however providing equitable and transparent platform for thus reaping the benefits out of the intellectual property creations/registrations in India.



This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for Section 8 company registration, Nidhi company registration, IEC registration.

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Here's how to save the planet and make a profit

2017-08-16 11:30:04 | Legal Services
You however are not required to be Captain Planet to however save the planet for the future generations -- and you can thus also make a profit doing it.



It however took just four days in 2016 for a river in the northern Canada to dry up completely; painted crosswalks in New Dehli melted earlier this year thus due to record-high temperatures; and also NASA had recently learned Earth is experiencing its highest levels of carbon dioxide thus for the first time in roughly 4 million years.



Many of us will however read such startling information and will also go on with our daily lives. But if we’re smart -- and also we’re conscious -- we’ll thus invest in saving the planet, if not for ourselves, then for the future generations. So as an entrepreneur (who, however at a basic level, make it a goal thus every day in order to improve the world where and also how we can), thus doesn’t it make sense to start doing it on a global scale?



Promoting sustainability is thus not only considered as a great humanitarian move -- it’s thus also a highly lucrative one.



The purpose of this article is to make the reader as to in what ways can the entrepreneurs make a difference while still turning a profit? Innovation in the sustainability industry is considered as plentiful, and the entrepreneurs can capitalize.

Sustain the earth, and your cash flow.

Myriad opportunities however exist in the sustainability arena, and also several entrepreneurs -- even the bigwigs are however cashing in on the movement. Currently, some of the areas thus boast more potential growth than the others:



Autonomous driving: The notion of self-driving cars has thus however been on the tips of tongues for years now, but thus the environmentally friendly aspects that are however attached to the concept aren’t thus usually the top reason why. For the entrepreneurs, however, they should be. Research had highlighted in an Elsevier report found that in five years, thus close to one-third of trucks in the U.K. could thus also be self-driven; by 2040, three-quarters of all the cars in the region could be.



Health: also, Taking care of ourselves thus also goes hand in hand with taking care of the planet: The better we also do, thus the better the environment does. Leading healthcare organizations such as Kaiser Permanente are however doing what they can to however instill environmental stewardship, recognizing the symbiotic relationship between both good health and also good earth. Preventing the environmental causes of illness is considered as the main objective of the sustainability program. We thus however also recognize that the health care industry’s impact on pollution and also waste is substantial, and one should always want to be proactive in combatting it.



The healthcare industry is thus also embracing the movement through the use of renewable energy, purchasing of more efficient products and also practicing the same diets it encourages patients to (such as eating homegrown, sustainably farmed foods). The use of renewable energy (as it is thus also opposed to the harmful fossil fuels) significantly it also lowers global warming emissions.



Lastly, also consuming foods from the homegrown sources also lowers the pesticide consumption, as well as the workers' exposure to harmful chemicals in the field.



Agriculture: Investing in the agriculture, according to the United Nations' Food and Agriculture Organization, can thus also greatly reduce the effects of climate change. In 2016, the FAO’s deputy director had said, “Agriculture can thus also play a crucial role in making the response in order to climate change responsible and also more effective.” Agriculture, in particular, is thus also severely impacted by the damaging effects of the climate change. Entrepreneurs who thus invest in the industry -- such as Bill Gates, who had founded the Bill & Melinda Gates Foundation (who is one of the largest advocates of agricultural research and development) and who thus also happens to be the No. 1 funder of genetic engineering research -- can thus also help combat these devastating consequences, which in turn also makes a small dent in the road to climate change recovery.

So, the entrepreneurs, would thus now know as to in what are they supposed to invest in. The next challenge is thus actually doing it.



One must however Leverage the power of AI for climate solutions.

Artificial intelligence isn’t however just a cool trend; it’s thus also an incredibly effective one, and its implications are thus also being explored for the climate change and also the food security concerns. “The power of AI technology is it can thus also solve the problems that scale however to the whole planet. Recent developments in AI for the sustainability purposes thus also include anything from identifying of the deforestation and how fast it’s occurring to predicting the energy demands in order to ensure a matching supply. Now is thus the time to tap into the limitless potential of AI, especially if one thus plans to tackle the ever-changing climate and its insidious effects. Perhaps thus the most effective way in order to use AI as an entrepreneur is also through mining big data involving the cause of the choice, and then having one’s team decipher that data and plan one’s course in detail.

So while you’re thus no Captain Planet or Superman saving the world one good deed at a time, you thus also are an innovator, and you're thus also one who can make a difference for the future generations -- our children and their children. An entrepreneur is not a superhero, but since an entrepreneur has a a big heart -- he must add some funds and the power of tech to the mix, and then one would get the world in his hands.

This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for Section 8 company registration, Nidhi company registration, IEC registration.

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HOW TO ACTIVATE YOUR PAN IF IT HAS BEEN DE ACTIVATED

2017-08-16 11:29:56 | Legal Services
Once, one’s PAN is de-activated by the department, the income tax e-filing login of the assessee also gets blocked.the purpose of this article is to make the reader aware of the ways in which one can activate the deactivated PAN.

To Activate your PAN again one can do following:

Write an Application to the AO (in duplicate) for the activation of the PAN. Following are the documents which are required to be attached with the application:
An Indemnity Bond in favour of the Income Tax Deptt.
Copy of the PAN on which the PAN holder is however regularly filing the Income Tax Return.
Copy of the last 3 years Income Tax Returns which are filed on the PAN de-activated.


Reactivation of PAN is thus 10-15 days process for the Income Tax Department

If one has however received any notice/intimation from the ITD for which an online response thus needs to be filed but the e-filing login is blocked then one should however file that physically to the AO and as the PAN thus gets activated file that in online mode too.

Also, There can be a scenario where one however has not filed the earlier returns then in that case one can however add another declaration in the Indemnity bond explaining the scanerio.

However, listed below are some of the PAN Provisions

Firstly, we will write about the fact as to Who Shall Get PAN

A Person if his total income is however greater than the maximum amount which is thus also not chargeable to income-tax
A Person, if his total income of any other person thus in respect of which he is assessable is however greater than the maximum amount which is thus not chargeable to the income-tax
A Person who is thus carrying on any business or profession whose sales/turnover/gross receipts are or is thus likely to exceed Rs. 5 lakh
A Person who is thus required to furnish a return u/s 139(4A)
The Class of person that the CG thus notifies by whom the tax is thus also payable under this Act or either any other law e.g. GST Law
Other persons who are however notified by the CG
Person who however are applying voluntarily
Facts of PAN

The Persons to whom the PAN under the new series has thus already been allotted shall however not apply for such number again. No person who however also has already been allotted a PAN under the new series shall thus however apply, obtain or either possess another PAN.
Any Person who is however Possessing a duplicate PAN card is thus an offence in the eyes of law and it thus however invites invokes a penalty of Rs 10,000.
Government had also recently deleted approx. 11.56 lacs duplicate PANs
The Major Problems are that people however have duplicate PAN (person having more than one PAN) and also have Fake Pan (Person do not exist for such PAN)
Some of the reasons as to why people opt for duplicate PAN are :

People who however lost their PAN cards thus also simply apply for the fresh ones without however going for filing FIR and also Reprint of existing PAN
Person who thus also did not received original PAN due to the courier agency failure , impatiently applied a fresh one.
Personal Vendeta
Reasons as to why people have fake PAN

Though there are thus only least chances for having a fake PAN but still tax evasion is thus this is the main reason for the same

Some of the Government Remedial Actions to ensure that fake PAN and Duplicate PAN are avoided :

Insertion of New Section 139AA.

It thus also asks for quoting of Aadhaar in​​​​​​​
in the application form for the purpose of allotment of PAN;
in the return of income:
Where the person do not have Aadhaar, then an Enrolment ID of Aadhaar application shall thus be quoted in the application for PAN or ITR.
In case of failure to however intimate Aadhaar number, PAN which is allotted to the person shall be deemed to be invalid and also the other provisions of this Act shall however apply, as if the person had not applied for the allotment of PAN.
139AA will however :

Weed out the Duplicate and also Fake PAN in circulation.
Cancellation or Deactivation of Duplicate PAN

As per the recent media reports, Government had thus recently deactivated approx. 11.56 lacs duplicate PANs.
One can thus also use the above mentioned procedure to activate the PAN Again
This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for Section 8 company registration, Nidhi company registration, IEC registration.

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