‘Chai’ in one hand and confidence in another!
And I’m the hardest working person in the room now!
I welcome you all to my new cubicle..
Let us all be real. None of us are working from home, pehli baar, but the new WFM because of the coronavirus feels amazeballs. Oh yes! Don’t you agree that this pandemic has let you live and breathe in a brand new reality? For starters, I feel someone pressed that pause button in my life.
And suddenly, the frantic phase of average office-goers like me have been swapped by something so shaandaar. That there is no coming back from there. So much so that now back-to-back meetings, traffic jams, and rush hour can sink in the chullu bhar paani. While I make the most of stretching my legs in the PJ, sipping masala chai and answering emails swinging on the hammock.
Come 2020 and say hi to your new workplace – the work desk. But all in your home’s comfort. Office conferences have shifted online, incessant zoom calls have made up for the commuting hours. Cmon, what’s not to like? But is the reality of this pandemic WFH this mazedaar? Let’s find out.
WFM – a 2020 reality or just a FAD?
You agree that we are a part of a “neo normal”. And that “neo normal is nothing but telecommuting. With the world being at a crucial crossroads in this fight against the novel coronavirus.
You accept that the pandemic has altered our personal and professional lives in ways over one. Don’t you? The global lockdown, one that has shut down developing nations, and crippled economies. And with every country dealing with enormous challenges in healthcare. This lamba wala lockdown may just continue forever.
Yes, the lockdown restrictions are easing. And some of you may also return to your workplaces. But, but, but there remains a question. The question is whether the #WFM is here to stay or is it just a compulsive choice that our organizations are making, owing to the pandemic’s social distancing norms?
Well, I believe that work from home might just become the “kaam wahi par jagah nayi” kinds.
The 2020 Quarant-YAY’s
Yes, boardroom meetings have shifted online. Wait, what? Leave alone your meetings but the entire daftar has shifted to a whole new territory. And you? Have you shifted from the bedroom’s bed to …to… the bed in the lounge? Feels amazing, isn’t it?
Well, I have to admit that my clothes have also made a shift. While my formals are hibernating in the almirah my pajamas and I are having fun of a lifetime. Oh, I forgot to mention about the massive shift of the dull and drab office environment to my fun place. I now set my noise levels just the way I want it.
So it is somewhere between being insanely silent as the shamshaan to being a dhamakedaar disco. Well, it’s not just me. But, a swathe of Indian technology, multinationals, startups, and some of the largest Indian corporations have also asked their employees to work from their homes.
Don’t believe me? Then here you go- Zomato and Swiggy besides edutech platforms like Unacademy have asked employees to work mandatorily from home. And it doesn’t end here. Remote models of work have been adopted by the ecommerce biggies like Snapdeal, and Flipkart. Besides, transport aggregators like Ola and Uber also started WFM.
In fact, I can’t help but share that Coal India permitted WFM for over three hundred thousand employees. They went a notch ahead by upgrading from the manual register system of attendance to biometric attendance.
Living at work as opposed to WFM-ing
Are you able to take the much-needed breaks in between works? Yes? Also, are you able to take calls while knocking off some weekend to-do’s? From crossing off the pile of bina dhule kapde to making some shaam ke pakode you are able to do it all.
Many of you just like me are no more feeling and are literally living at your work. Why? Well, no points for guessing. There is nothing quite aaramdayak than enjoying your doggo’s extra snuggles, be ready for the kids and take care of your significant others.
I must add here that with no doubts WFM has proven to be a blessing in disguise. Especially for new parents like me. As, it has been adding to our work-life flexibility.
In fact, the other day I read about Flipkart’s Senior Vice President, having executed WFM for young parents. It amazed me at how he encouraged his employees to interact with customers and colleagues, all from home.
Would you believe that most tech giants and IT companies are revising their remote-work policies? Oh yes, and employees like me are happier than ever before. Because we have found our ultimate work-life balance.
Embracing the new ordinary
I have to admit that the pros of WFM 2020 are endless. And when you think in terms of the amount of paisa vasool happening, you will agree with me. Before the current situation, most companies were skeptical. Yes, Just like I was about the productivity that WFM would pose.
But, the skepticism is disappearing because companies have realized that remote work certainly works. I must confess that I am saving my bucks. As I no longer have to buy lunch or pay for the transport. And so are companies.
Not convinced? Well, I must share that India Inc considers WFM as the new constant. Why? Because they are saving on crores of rent, cafeteria costs, furnishing, transportation, and ventilation costs.
The 2020 Quarant-NAYs
For us, grass will always be more hara bhara on the other side. Don’t you agree? When we are at our workplaces, we desire a toasty day, under our blankets, indoors. And when we are at our homes, we reminisce about bantering and joking with our co-workers. Well, such is life, or working from home, as we say. Isn’t it?
FCUK the routine
Every story has two sides. And likewise, I would like to point out the side of the WFM that is not very alluring. While I mentioned loving this novel form of work, I have to admit that I find it extremely difficult to stick to a routine.
The willpower to work, (with Netflix notifying about the Money Heist’s four more episodes to watch), takes a toss. Not to mention listening to my favorite podcasts as I work. Are you guilty of missing important pings because of taking power naps? Well, I am.
Shooting stressometer and blurry time boundaries
Is your husband working from home? Are your kids attending online classes? And, are you also about to WFM? Boom! Then there are some grave challenges ahead of you. Another thing. Is the internet access at your home enough for a quality office video conference? No? You are doomed. And, if you check your stressometer now, it might be on the verge of a visphot. Sob sob!
While WFM is slowly becoming the reality of 2020, a part of me still desires the comfort and energy of my workplace. Just like these HR professionals, who argue that with WFM their work time boundaries have faded. Because there is no difference between 4 PM and 4 AM.
OOTD -The pajamas versus the suits!
Sometimes your office has the vibe, and the home does not. And sometimes the home gives the sukoon that the office does not. But, with corona in the air, the daftar is where your ghar is. And, there is nothing quite like NOT having to get ready every morning, scrambling for the gadi ki chaabi, or NOT booking an Uber.
At least I don’t miss catching the metro in a rush or slipping myself into my formals. Yes, almost everything changed overnight! And, despite life getting thrown out of the gear, with social distancing becoming a pressing priority, have you noticed how early morning or late night meetings pester us less? And why not? Because we are no more bothered about the last bus to catch or the colored-tie to match.
Private Company vs Public Company
The difference is more than literal
Do you know why you cannot buy shares of a private company?
So, can you only buy shares of a public company like ONGC, IRCTC, Indian Oil, etc.?
Then why are the shares of private companies like Infosys and Wipro listed on the stock exchange? Are these private companies to begin with?
Do you know a private company cannot have more than 200 members?
OMG! Somebody please answer all these questions.
Yes, the difference is more than literal.
Let us have a cut and dried distinction between a private and a public company.
Definition of Company
Let us take the bull by its horns and get the definitions out from the textbooks.
Companies Act 2013
A company is a legal entity that is formed by different individuals to generate profits through their commercial activities.
Majorly, a company can be classified into two strands- public company and private company.
Before knowing the difference between a public company and a private company, it is of utmost importance to check on the definitions of a public company and a private company as per the Companies Act 2013.
According to the Companies Act, 2013, a “public company” is a company which—
(a) is not a private company
(b) has a minimum paid-up share capital of five lakh rupees
According to Section 2(68) of the Companies Act, 2013, private companies are those companies whose articles of association restrict the transferability of shares and prevent the public at large from subscribing to them.
According to the Companies Act 2013, a public company has to mandate all legal proceedings which are not mentioned in the definition under Section 2(68) of the Companies Act, 2013, which pertain to a private company.
Difference Between a Public And Private Company
Let’s look at all the major pointers which differentiate a public Company and a private company.
Minimum Number of Members
In a public company, a minimum of 7 members is required to form a company; whereas a private company requires at least 2 members to form a company.
Maximum Number of Members
In a private company, a maximum of 200 members can be present to form a company; whereas in a public company there is no such restriction on the maximum number of members to form a public company.
Invitation To Public
A public company can freely invite the public for subscription, which implies it can issue a prospectus. On the other hand, a public company is prohibited from inviting the public for its share capital, which means a private company cannot issue a prospectus.
Number Of Directors
In a private company, a minimum of 2 directors is required; whereas in a public company, a minimum of 3 directors is required.
Transferability Of Shares
There is no restriction on transferability of shares in a public company; whereas in a private company there are complete restrictions on transferability of shares, through its article of association.
A public company must disclose the annual financial report; whereas for a private company, there is no such obligation to disclose their annual report to the public.
Index Of Members
In a public company, it is mandatory to maintain an index of all members in the company, whereas in a private company, it is not needed to maintain the index of its members.
The minimum paid-up capital for a private company is Rs. 1 lakhs; whereas the minimum paid-up capital for a public company is greater than that of a private company. It is Rs. 5 lakhs for a public company.
In case of a public company, it is defined that total managerial remuneration cannot exceed 11% of net profits and in the case of inadequate profit, the maximum amount to be paid is Rs. 87,500. Whereas in a private company there is no such restriction on the maximum cap for directors’ remuneration.
Quorum For Meetings
In the case of a public company, it is mandatory to have a personal presence of five members in a meeting to constitute quorum, whereas in a private company, it requires a minimum of two members to maintain a quorum for meetings.
Below is an array with a list of pointers that differentiates a public company and a private company.
|S.NO||BASIS||PUBLIC COMPANY||PRIVATE COMPANY|
|1||MINIMUM MEMBERS||AT LEAST 7 MEMBERS||AT LEAST 2MEMBERS|
|2||MAXIMUM MEMBERS||NO MAXIMUM LIMIT||CAN’T EXCEED 200 MEMBERS|
|3||INVITATION TO PUBLIC FOR SHARE CAPITAL||POSSIBLE WITH THE HELP OF PROSPECTUS||CAN’T INVITE PUBLIC FOR ITS SHARE|
|4||NUMBER OF DIRECTORS||MINIMUM OF 3 DIRECTORS||MINIMUM OF 2 DIRECTORS|
|5||TRANSFERABILITY OF SHARES||FREELY TRANSFERABLE||RESTRICTIONS ON TRANSFERABILITY|
|6||ANNUAL REPORT||COMPULSORY TO SUBMIT ANNUAL REPORT TO ROC||NOT A MANDATE TO SUBMIT ANNUAL REPORT TO ROC|
|7||INDEX OF MEMBERS||MAINTAINING INDEX OF MEMBERS IS MANDATE||NO NEED TO MAINTAIN INDEX OF MEMBERS|
|9||DIRECTORS/MANAGERIAL REMUNERATION||CANNOT EXCEED 11% OF NET PROFIT||NO LIMIT / NO RESTRICTIONS|
|10||QUORUM FOR MEETINGS||5||2|
“The best investment is in the tools of one’s own trade.”- Benjamin Franklin
It is always better to be well versed with the tools of one’s own trade and the management of the inflows and outflows.
An avid tradesman associates their trade to generate profits and simplify the trade complexities by forming a company. These differences stated above lay down the basics of companies and form a guided path for a better approach to start with a company.
Here Is Why Entrepreneurs Should Go Out and Start Networking
Don’t hide behind. Face your circles. It’s high time you start networking.
We have often watched Hindi films where protagonists aspire to be a rich men as a kid. And hence they start thinking of different business ideas to be successful.
Well, this happens in reality as well. Who doesn’t dream of starting their own business one day, right?
However, business is not as easy as eating a piece of cake. And no, you don’t need to have a Ph.D. or an MBA degree to start a business.
You just need to have clarity of thoughts; about the business idea, sales and marketing, and most importantly, NETWORKING.
Today, everyone needs everything. The circle of needs and demands has become wider. Everything in entrepreneurship is becoming more interconnected. Just like the Past, Present, and Future in the web series “Dark”.
Networking is the one and only way to get to know what’s around you. From having conversations with your parents to your fruit vendors or even your house helps, you never know what brings you to the peak of your business.
We will share our two cents to convince you enough to go out and start networking if you are a budding entrepreneur. Pardon us if these two cents become 4 or more, but you will definitely not regret reading this till the end.
Entrepreneurship And Networking
The first thing that any budding entrepreneur does, while starting their own business, is to spread the word about it.
The first set of people that they talk to are their family, friends, and even banks (for financial purposes). Although these efforts may or may not materialize into something fruitful, you learn a thing or two about the ABCs of networking.
Networking is one way to get clarity of thoughts about your business. It’s like building a blueprint of your business in mind. You not only know the industry better but also get to know the loopholes and healthy shortcuts that will save time and increase efficiency.
In the ABCs of business, “A” stands for “recognizing the needs and expectations of people around you.”
Networking is the first step to recognize the gap between demand and supply. It’s similar to providing electricity to those areas with no light, and the idea and motivation behind it.
So now that you are still reading, let’s go further and discuss the importance of networking in entrepreneurship:
Builds Trust And Respect
You may or may not earn money every day from your business. But once you earn trust and respect in the market, there is no way that people will forget you easily.
It’s a fact.
Earning money is easy.
But earning trust and respect takes more effort.
Networking with your business peers or veterans will get you noticed. Initially, you won’t find them paying heed to you, but once they do, they are never going to leave you.
People believe in aggressive marketing to increase sales and business. But try aggressive networking instead, and there will be no stopping for you in the future.
Remember, making friends in schools and colleges? It’s a similar situation in entrepreneurship, too.
Going social is one way you get confidence in networking with people in the future.
Did you ever come across someone who would go to a restaurant with you and start talking to the waiters and receptionists?
Well, you may feel awkward about it, but that’s their first step to get to know the surrounding market.
Start from a party that you attend, be it a family party or a party with friends. Join a group of your choice and listen to the conversations. Once you get the grip of it, start by putting forth your views and then turn it around to your business idea. This may look boring and slow, but slow and steady will definitely win the race.
Today, there are many millennial-made apps, like Bumble, LinkedIn, etc. that encourage people to build an entrepreneurial network in any industry of their choice. Start posting. Start swiping right to the connections that interest you.
For that matter, you can even join dating apps to build professional connections. Your first conversation about your business will be a good ice-breaker (You’ll thank us later for this pro tip).
Don’t Be Selective In Your Own Circles
A very common mistake that most “choosy” or “picky” people do, is being very selective in deciding who to network with.
Today, almost all industries are interconnected. A top-class hospital will always need catering or food services for their staff and patients. A hotel will always want to have options for good clothes vendors for room and restaurant linen.
So if you limit yourself to one or two industries, and sideline others, chances are that you may lose a lot of opportunities.
Expand yourself. Even if you are not sure about it at first. Take that first call that says “our budget is low”, when you know that you have a different area of expertise to explore.
Your Shyness And Fear Will Only Put You Behind The Race
Entrepreneurship requires you to go “out-of-your-circles” more than going “out-of-the-box”.
You are likely to face uncomfortable situations all the time. You have to become an extrovert if you are a highly introverted person. You can’t hide from people who you dislike. You can’t say goodbye to those people whom you are done working with.
Your fear, your shyness will start putting you behind the race of a successful entrepreneur.
You have to be outspoken. Pave your way and lead it too. Take others along the way and build a huge business “family”.
Remember Abhishek Bachchan in the film “Guru”?
No, you need not be exactly like him, but you are expected to know why to be like him. And take your own decisions from the existing lessons.
It’s A Long Road That Will Definitely Lead You To Your Vision
Networking is a continuous process. You don’t stop after a certain level of achievement.
Starting a business is not enough, you have to keep it running. And for that purpose, you may need to explore your potential networks.
It’s often expected from budding entrepreneurs to network only with business-minded people to start and run a business successfully. What they don’t realize is that business is made by people, for people, and with people.
So start networking – whether virtually, or face-to-face. Get that business idea in place, get started with your plans, and you will surely reach a place where you can write “successful entrepreneur” in your social media bio.
2021’s India Is Atmanirbhar: 10 Desi Unicorn Startups
With 10 startups joining the unicorn club in just 4 months of 2021, is India moving towards Atmanirbhartha?
The Many Firsts of a Fantastic First Quarter of 2021!
The Indian startup ecosystem got an impressive start in the first quarter of 2021. As per Venture Intelligence, Indian startups witnessed the highest investment in two years, and the capital flow was $4.2 billion!
This is not all.
Most of the startups saw a three-fold hike in valuation in their recent funding rounds. And among these, 10 got valued at more than $1 billion.
And hence, the Indian startup ecosystem received its new set of unicorns.
The unicorn story of 2021 is unique.
Because it is the one with many firsts.
The first health tech, social commerce, e-pharmacy, and infrastructure technology that made its way into the unicorn club.
According to the NASSCOM report, India will have 50 unicorns by the end of 2021.
But many industry experts and research firms believe that, if the current rate continues, India would easily surpass this number.
Here is the list of 10 Indian startups that gave 2021 a pleasant start.
- Digit Insurance
- Five Star Business Finance
The Beginning of Unicorn
If you know any entrepreneur personally, you may have an idea how difficult it is to raise the funds for a startup. It is definitely not a cakewalk.
The fundraising usually begins with family and friends. And as the company expands, it approaches angel investors, and then goes for the venture capitalists for the fund acquisition.
Even though it is a tough task for any startup to gain the investors’ confidence, some horses pass this race and achieve the unicorn tag.
For those who are new to the concept of unicorn, it is a startup that has a valuation of $1 billion or more in the venture capital industry. And Aileen Lee, the founder of Cowboy Ventures, coined the term ‘unicorn’ in 2013.
And since then, startups are continuously striving to attain this prestigious status.
India Didn’t Have a Great Start
When Aileen Lee coined the term ‘unicorn’ in 2013, the United States had 39 unicorns.
You may ask, what about India?
There was only one company called InMobi, the mobile-advertising services provider, that could make it to the unicorn club.
India was nowhere closer to the US in the matter of unicorns. The reasons were many:
- Limited funding
- Inadequate infrastructure
- A plethora of social and cultural challenges
- Lack of talent
- College students found entrepreneurship unappealing compared to the management jobs in large IT firms.
- The aspiring entrepreneurs often got rejected by the prospective brides and their families.
India Slowly Picked Up the Pace
Even though India’s unicorn story had a not-so-brilliant start, the current scenario looks promising.
As per Venture Intelligence data, there were only 10 unicorns until 2018, and since then, there has been the addition of 28 unicorns.
For an Indian startup, on average, it would take up to 8 years to turn into a unicorn.
India’s oldest startups, like Naukri.com, MakeMyTrip, and Justdial, which began its operation prior to 2005, took 15 years to achieve the unicorn title.
But this period has shrunk in recent times.
A recent report by Orios Venture Partners shows that the newer technology firms are hitting the billion-dollar mark in less time than their older counterparts.
The younger enterprises such as Swiggy, Rivigo, Razorpay, and Unacademy joined the unicorn club in 5 years on average. Whereas, Udaan, Ola, Electric, and Glance took just 2.4 years!
What could be the reason for this transition?
As per the Orios Venture Partners report, the reason behind the younger startups turning unicorn sooner could be:
- The prior entrepreneurship experience of the founders of these companies
- These founders know how to secure the funds more efficiently
- The growth mindset
There are two other reasons the investors from India, and all over the world, are backing the Indian startups with their funds:
- Indian startups leveraged the changing consumer behavior and quickly tweaked themselves to satisfy the needs of the customers
- These companies started functioning on the fact that “Focus on the market and the customers will ensure your growth”
Will ‘Atmanirbhar Bharat’ Soon Be a Reality?
India’s honorable Prime Minister, Narendra Modi, raised a clarion call to the country to be self-reliant, aka Atmanirbhar in all senses.
He also outlined the five pillars of Atmanirbhar Bharat:
- Demography, and
You may ask, how startups can help in making India self-reliant?
The Indian startup ecosystem had a slow and steady evolution from one sector to the other, ranging from IT/ITES to e-commerce, deep technology to hyper delivery networks.
Today, startups also have the most favorable conditions to survive and flourish, starting from the funding, development of regulatory infrastructure, global mergers and acquisitions, the influx of global investors to internationalization.
Do you know what brought this revolution to the world’s third-largest startup ecosystem?
It is the government’s mission to get as many entrepreneurial stories as possible through its programs like Startup India, Stand up India, Digital India, and Vocal for Local.
And the unicorn forms one-tenth of new industries coming into existence every year.
The increase in the number of tech unicorns is driving the investors’ interest in India’s startup ecosystem.
According to a report by NASSCOM, the startups in the technology field alone have created 60,000 direct jobs in 2019.
These data show that, if more startups come into existence, and get support from the investors and from the government, India could see a greater spike in job opportunities.
Atmanirbhar citizens make Atmanirbhar Bharat, don’t you agree?