The Significance of Technology for Entrepreneurs

A lot has changed for entrepreneurs from the previous decades. Majority of these changes are brought by the advancements in the technology. These technology tools are used to achieve more profit with fewer investments. In terms of electronics, the competition in today’s world has paved the way for less-expensive hardware and software. Furthermore, there is a rise in open source software. Communities prefer to use open source software that provides availability and the ability to modify the software as per requirement. Such digital investments have aided in digitizing the major popular terms and now it has created a new term called ‘digital entrepreneurship’. Technology advancements have resulted in better communication, maintenance, supervising and performance enhancements. Customers are now connected without any hassles with blogs, websites, and social media.

The internet and global networking have enabled the corporations to reach out to the whole world with ease. Operations like conference calls, video calls, and webinars have simplified the process and have saved numerous costs. Easy access to educational resources, website development, app development, and communities has brought entrepreneurs together. All these technological advancements are making it easy for new entrepreneurs to start new businesses. Entrepreneurs, who started their businesses in the 70s or 80s, did not have these opportunities nor had such tools. However, still today many entrepreneurs are hesitant to embrace these tools that can be very powerful in mounting the ladder of success.

The Impact of Information Technology

Information Technology aid in analyzing various parameters economic conditions like firm’s financial position, technology trends, customers future mindset, and a number of competitors in the market. It is also possible to predict the future growth of the company using such tools. Using such information, young entrepreneurs can make tough decisions in difficult situations. Extreme research and in-depth knowledge of data will help them in penetrating the market seamlessly. Entrepreneurs will know the current market trends and will render out products and services relevant to these trends. Startups will be able to track data and meet deadlines efficiently. These technological tools help both small and big start-ups all around the world. Virtual offices and twenty-four-seven work from home processes have eased up the operations and have reduced operational costs. Moreover, these tools are affordable, easy to use, and intuitive.

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The Significance of Technology for Entrepreneurs

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Importance of Facility Management for Driving an Enterprise

Starting up a new business leads to a lot of responsibilities for the entrepreneurs. When the entrepreneur deals with the dream project, there are certain valuable sectors of a business-decorum which he must not forget. Office management is a big part of any business that can give the business the clarity of its work and target. It also offers a certain standard that the office needs to acquire to attract the clients and the employees as well. Facility Management is the latest addition to the field of creating the perfect office environment where almost every aspect of employers’ and employees’ benefits is well acknowledged.

The duties of facility management differ from company to company, depending on the business model. And the important part is such facilities represent the brand, which the entrepreneur wants to create. As a matter of fact, these facilities attract the attention of the new joiners too, to create a healthy atmosphere professionally. The arms of Facility Management are stretched wide, which enfolds a lot of important parts of the organization.

Document Management

An organization cannot run flawlessly, if the document management is not in a scientific manner. It is true that all of the important documents can be in soft copies, but as a matter of fact there are a number of important papers and files that are always a part of a good institution, and there is a good deal of soft copies too, which needs to be maintained. The team of Facility Management can take care of these important things of the office without any badger.

Technical Support

The technical equipment like laptops, printers, xerox machines, electrical connections and internet service are of great importance for an office place; and maintaining them for a free-flowing work process is beyond importance. The technical support is one of the biggest help from the facility management team that keeps all of them in check.

Repair and Maintenance

Repair and maintenance is a section that can also be termed as ‘asset maintenance’, as it deals with the assets of the organization. Lifts, air conditioner or other electrical gadgets for office purpose, including chairs and desks and office furniture all need to be maintained and taken care of; and facility management team takes the responsibility.

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Challenges of Setting Up an Education Enterprise

Education and education allied services, like International education advisory and prep, are businesses built on trust. Impressionable, young adults entrust you with their dreams, at a very crucial stage of their lives. The first thing that I said to my team when I acquired the business and began defining Inspirus almost a year ago was that “You are in the business of setting the future on course, you need to know every turn, every cross road ahead. Dreams might not always turn into fairytales but they certainly cannot end in nightmares.”

It is that passion, that honesty and that earnestness that anybody stepping into the education space must commit themselves to.

And in that commitment lies the greatest business truth too. Education allied entities cannot sell on an individualized USP. The only game changer in the space is “experience”. Word of mouth and repeat referrals are where 90% sales come from.

While nurturing young futures the greatest challenge lies in keeping a few steps ahead of them always. With a dynamic environment, it isn’t enough to keep abreast with changing international policies that impact students and placement opportunities. The challenge is to keep the students’ confidence in your abilities to identify their strengths and then guide and prepare them to achieve the perfect admit that fits their end goals.

As such my biggest investment is my team of teachers, counselors and content developers. This is a team that has the ability to put the student first. Who believe in increasing profitability by putting the child’s welfare before business. The team ensures each child gets focused attention at every stage, including staying in touch with students in the initial days in the new university.

Becoming an entrepreneur in the current environment in India seems easy. From positive policy interventions; encouraging tax laws to VCs and angel investors, we seem to have it all. But in the education space the big challenge is coming from scalability and sustainability. Weak IP laws and easy accessibility to the technology challenge the stickiness of these businesses. But building a strong network of best practices that define the service quality across branches and franchise partnerships can go a long way. Strong internal processes and checks ensure quality delivery is consistent and constant.

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Swapan Rajdev: An Entrepreneur Building Complex Application with Simple Design

Entrepreneurship is an impressive word, a word that is filled with optimism and the prospect of joy. It is the persistent progression towards an innovative solution to a key problem. Also, it is the constant hunger for making things better than before. To be a successful entrepreneur one must have a passion for learning from a customer, employee, and failures. A dream does not become reality through magic; it takes sweat, determination, and hard work to become a successful entrepreneur.

One such successful entrepreneur is Swapan Rajdev, Co-founder & Chief Technology Officer, at Haptik which is one of the world’s largest conversational AI platforms. He oversees the entire engineering function at Haptik which includes product development, scalability, and future vision from a technology and product perspective. Apart from this, he is consistently working on new and innovative ways to make Haptik one of the best places to work at.

An Entrepreneurial Journey

Like every other entrepreneur’s journey, Swapan’s journey has been a roller coaster ride filled with up and downs. From being featured in the app store as in one of the best apps in the country to running out of money, he has experienced all kinds of high and lows. He truly believes that to become a successful entrepreneur one needs to have a mentor or an advisor who can guide through the challenges that entrepreneurship throws. Apart from mentors, podcasts, and books have helped him to learn a lot over the years. “The hard things about hard things” by Ben Horowitz is one such book that helped him to become a better leader.

Swapan holds a B.Tech degree in Computer Engineering from University of Illinois Urbana Champaign. He started his career with Accenture, where he worked for three years as a technology consultant. Later he left the coveted job for a startup called Radius intelligence in the Silicon Valley. He was one of the first few who were involved in building business tools for marketing and sales professional at Radius. He is passionate about developing innovative mobile applications. His biggest success so far has been ‘snake classic’ which was ranked fourth on the app store in 2010.

The Start of Something Big

Swapan has been building Chatbots before the term was officially coined. He scaled them to handle more than two to three million requests a month, at a time when the concept was novel across the world. Swapan decided to start Haptik by leaving his job in one of the best cities in the world.

‘While talent can win games, teamwork wins the championships’

The main reason behind Haptik’s success is its dedicated employees and that’s what differentiates the entity from any other company. He has invested every ounce of energy into Haptik, to convert his dreams into a reality.

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