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What inspires entrepreneurs to keep moving, reveals Praveen Sinha of Jabong
THERE IS A LOT TO DO, BUT ALL I CAN PROMISE IS THAT THE JOURNEY WOULD BE GREAT FUN. HAVING A VISION OF BUILDING THE BEST-IN-CLASS INFRASTRUCTURE HELPED US SAIL SMOOTHLY WHEN MOST START-UPS STRUGGLE TO SCALE-UP
–PRAVEEN SINHA
Being a successful entrepreneur is a dream harboured by millions. Many people dream about the lives of entrepreneurs, thinking of them living a glamorous life-like movie stars. However, in reality, running a business is not a piece of cake, but a tough row to hoe. Entrepreneurship requires a lot of sacrifices that usually results in feeling like giving up every now and then. In this blog, we will share what co-founder of Jabong – Praveen Sinha has to say about what inspires entrepreneurs the most to keep them moving uninterrupted.
One can seek inspiration from almost anything and everything around and there is no one right way to get inspiration. Several people find inspiration in reading about the stories of the struggles of other people who have found success in different spheres of life. While speaking on what inspires Praveen Sinha the most, he says, “I always find something to learn from people around me. There are inspirational writers who are no more there, but there are lots of things to learn from them.”
Praveen Sinha
Spirituality
Spirituality has proved to be strengthening several virtues of the entrepreneurs, such as to remain innovative and committed to scale-up their business. For an Indian entrepreneur, they can draw inspiration from a significant number of personalities from across the nation that have spiritually enlightened millions of people. “I am also driven by spiritual leaders such as Swamy Vivekanand and there are lots of great teachings which we can learn from him or which we can follow to create harmony and good intent towards the society,” quips the maverick entrepreneur. Adi Shankaracharya has also written many verses of great significance however, it’s generally not easy to get the English version of his scriptures.
ARISE, AWAKE AND STOP NOT TILL THE GOAL IS ACHIEVED — SWAMY VIVEKANAND
Drawing inspiration from other business groups
“Tata Group is a great inspiration. The way they built viable businesses along with creating a community and social connection with their organisation is amazing. This is an example where the foundation of the organisation was kept in one generation and the business was started in the next generation. There are other entrepreneurs also who created the magnificent business from scratch in a period of just 15-20 years are a true inspiration,” he added. However, Sinha also believes that there are several firms who have not emerged as giants in terms of turnover but created much more value for their clients and society; these firms also inspire Praveen Sinha a lot.
Making a difference in the society by establishing enterprises inspires Praveen Sinha the most. He says, “I have always believed that one should create things and make a difference in the society.” He says that establishing businesses from scratch to great success is what keeps him motivated. Moreover, he also believes that there’s no other greater inspiration than your own vision and the dream which you have to achieve and that is the only thing which will keep you motivated till you achieve success.
Kenneth is a proud native of sydney, born and raised there. However, he pursued his education abroad and studied in Australia. Kenneth has worked as a journalist for almost a decade, making valuable contributions to prominent publications such as Yahoo News and The Verge. Currently, he serves as a journalist for The Hear Up, where he focuses on covering climate and science news. You can reach Kenneth at [email protected].
Have you considered what could happen if a major disruption hit your business today?
Ensuring business continuity and risk management is like having an insurance policy for your business operations. This article explains why solid continuity planning is crucial and how it can protect your business from unforeseen events.
It’s a must-read if you want to be prepared for anything and keep your business running smoothly no matter what happens.
Minimizing Downtime
Downtime can hurt your business big time. It can stop your work, upset your customers, and cost you money. So, it’s super important to minimize downtime as much as possible.
A solid business continuity plan can help you do that. It keeps things up and running when disruptions happen, keeping your downtime low.
Protecting Your Reputation
When something goes wrong with your business, it can negatively affect your reputation. And we all know how important a good reputation is for success.
A well-designed risk management plan can help mitigate potential harm to your brand image in case of a disruption. This can include regular data backups, secure storage and communication protocols, and a crisis communications plan in a PR emergency.
Ensuring Financial Stability
Problems with how businesses work can also cause money problems. If your business doesn’t have a good continuity plan, it might be hard to get back on its feet after something unexpected happens and costs a lot of money.
A risk management plan helps you determine the possible financial risks and how to lower them. Some things that can help with this are having a savings or emergency fund, getting insurance, and spreading your purchases.
Supply Chain Management
Supply chain problems may halt your business. You won’t be able to run your business if you can’t get the supplies you need or send your goods. You need a business survival plan to handle these risks well.
A well-organized supply chain management plan ensures backup providers are ready in case something goes wrong.
Complying with Regulations
Every business must follow certain rules and regulations. Depending on your business, these rules can be local, national, or even international. You might face big fines or other penalties if your business fails to follow these.
A good business continuity and risk management plan can help ensure you follow all the rules. This way, even if something unexpected happens, your business can continue to operate within legal boundaries.
Insurance Premiums
Insurance premiums can become a significant expense for businesses. A robust business continuity and risk management plan can lower these costs. By showcasing your proactive measures to insurers, you demonstrate that your business is less risky to them.
In this context, businesses may particularly consider this business liability insurance in NJ, as it aligns with a comprehensive risk management strategy and could contribute to more favorable premium terms.
Elevate Success With Business Continuity and Risk Management
A comprehensive business continuity and risk management plan is essential in today’s dynamic and unpredictable business landscape. It protects your business from potential disruptions and helps you minimize downtime, protect your reputation, ensure financial stability, and comply with regulations.
Don’t wait for a crisis – start creating your business resilience plan today! Remember, the best time to prepare is before you need it. Stay ahead of the game and keep your business safe and secure.
We hope you found this article helpful. If you did, be sure to check out our blog for more great content like this.
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