Entrepreneurs Views: January 2017

Tuesday, 31 January 2017

Things to Know about Richest People

1. There are 12 million millionaires in the world and only 2,325 billionaires.

These people constitute a mere 1% of the worlds population but control

40% of world wealth.

2. 60% of the worlds billionaires made their wealth themselves.

3. The US remains the country with the highest number of billionaires 571

in total. India has 90 billionaires.

4. Larry Ellison, founder of Oracle and 5th richest man in the world, is

allegedly the inspiration for Robert Downey Jr.'s Tony Stark character.

5. Bill Gates earns $250 every second, about US $20 million a day and

US$7.8 billion a year

6. If Bill was a country, he would be the 37th richest country

in the world.

7. Gates is 59 years old. If he lives for another 31 years, he would have

to spend $6 million per day to go broke!

8. If he gives $10 to each person on Earth, he would still have $2.26 billion

left.

9. If you convert all of Bill Gate's money to US$1 notes, you can make a

road from the earth to moon 14 times.

10. Carlo's business empire is so vast that more than 80% of the all people

living in Mexico have bought something from a company he owns.

11. His biggest firm, America Movil, alone accounted for $50 billion of his

total $72 billion net worth in 2010.

13. He built a $70-million museum in the memory of his late wife. The

museum holds 66,000 art pieces worth over $700 million.

14. He loaned $250 million to New York Times, one of the world's best

newspapers.

15. Warren Buffet, the world's 3rd richest man, made $62.7 billion of

his $63.3 billion net worth after his 50th birthday.

16. Snapchat founder Evan Spiegel's net worth was $1.5 billion at the

age of 24, making him the world's youngest billionaire.

17. Mark Zukerberg has taken a pledge to donate 50% of his wealth

over the course of his lifetime.

18. Vladimir putin's watch collection is valued at over $500,00. He

has a palace worth $340 million on an island in the black Sea,

and a yacht worth $44 million

What is Synergyse?

Synergyse is a Chrome Extension that integrates interactive training content into the Google Apps™ interfaces. Fully Interactive. The world's first truly interactive training system for Google Apps™ allows you to learn and take actions at the same time.

Varun Malhotra is the founder and CEO of Toronto-based Synergyse, which was launched in 2013 with an aim to teach users how to use Google Apps.

Google did not disclose the financial details of the deal. Google Apps Operations Senior Director Peter Scocimara said in a blog post yesterday that Google and its thousands of Google Apps customers have been "excited" about Synergyse.

The Google Apps product suite, which includes Gmail, Calendar, Drive and Docs, was built to provide cloud-based productivity and communications and is now used by more than two million paying businesses around the world, Scocimara said.

"As more businesses sign up, we wanted an elegant way to scale our training offerings to our customers and our customers' users," he said adding that Synergyse builts a virtual coach inside of the Google Apps interface. With voice and text interactive modules that are searchable by topic within its apps, Synergyse will help users get up to speed quickly including when new features are rolled out.

Synergyse said by joining the Google Apps team, it can accelerate its mission because the company will be working closer with the teams that build Google Apps.

According to his profile on his commonly page, Malhotra specialises in training and strategy and has over 10 years of experience in the enterprise space.

Things to Know about Company YU Yureka

1.YU Yureka is an android based cyanogen smartphone produced by YU Televentures, a subsidiary company of Micromax Informatics.

2.It has a caption "Play God".

3.The device was released in January 2015 exclusively on the Amazon India website at a price of INR 8,999.

4.It is the first phone from the Yu brand and offers great specifications at low prices, focusing on the increased customization options offered by the CyanogenMod operating system that Yu preloads onto its devices.

5.The Yureka (Review) and Yuphoria (Review), Yu's next version, both offer the benefits of customizability and great specifications at competitive prices and have enjoyed some success. Yureka is a dual SIM phone and it supports Cat4 4G LTE with TDD 2300 MHz and FDD 1800 MHz bands supported for India

Is The Growth Significant?

India’s internet user base is expected to cross 500 million in 2016. Despite being the second-largest user base in the world, only behind China (650 million, 48 percent of the population), the penetration of e-commerce is low in comparison to markets such as the United States (266 million, 84 percent), or France (54 million, 81 per cent). But the Indian e-commerce is growing at an unprecedented rate, adding around six million new

entrants every month. The industry consensus is that the growth is at an inflection point with just 40 million transacting users. But this anticipated growth is not without challenges.

Go Cashless

UPI (Unified payment interface), is the future of payments in India and hopefully the world. UPI simplifies a transaction and makes it as simple as sending an email. No need to remember cumbersome account numbers and IFSC. Payments are a breeze, major Indian banks will be adopting UPI and it’s only a matter of time before it takes over and starts dominating the electronic transactions. For every transaction made using UPI, NPCI (National payment corporation of India) will earn 50 paise, plus charges imposed by the banks, which is typically about Rs 5 for a peer-to-peer transaction.

New Fashion Stylist

The next big thing in fashion is not what the big celebrities are flaunting. But, it’s you with a little black headgear going through endless virtual aisles for ensuring a perfect fit with an unmatched experience without spending a dime on travel and shop hopping. While VR puts viewers in a situation separate from their current environment, augmented reality blends digital elements with existing reality. The information gathered through such experiences provide the retailers with rich data to target you perfectly with apt recommendations for your next buy.

AI

The consumer will interact with AI chatbots and are surely going to love it. According to Gartner, by 2020, 85 percent of customer interactions will be managed without a human. Meanwhile, by 2018, customer digital assistants will recognize customers by face and voice across channels. The way we shop at any e-commerce site today is quite archaic, mostly navigating a database structure with multiple filters, prices, colors, discounts presented in a format more easier for a machine to understand than humans.

On the flipside, a physical store experience is more fluid where you can converse with a salesman. For a similar experience online, the bots would need to be extremely good at natural language processing and respond in real time to unstructured data from the users.

The New Mantra - GST

GST gives life to one nation, one market. With GST likely coming into force starting next financial year, it solves a daunting challenge faced by the e-commerce industry ensuring a seamless movement of goods and delivery of services across the nation. E-commerce has grown from being a nascent industry couple of years ago to an industry galloping its way to significant growth. It’s here to stay and the government has to ensure a transparent and conducive tax environment.

Things to Know About Mark Zuckerberg AI

1. Zuckerberg said Jarvis took about 100 hours to build

2. The name is inspired by the Iron Man digital assistant of the same name.

3. The AI butler can take to you and respond via your computer or phone.

4. It can do a series of functions, including controlling light, temperature, music, security, appliances and more.

5. Jarvis can learn your patterns and tendencies, including what music you like and play it according to what time of the day you listen to certain songs.

6. It has language processing capabilities, as well as face recognition software that ensures only you can talk to it. Otherwise, the system won’t answer you.

7. If there is a guest at your door, the AI machine can tell you if they’ve arrived. Following this, it can tell you whether or not to let them in.

8. It’s only a matter of time before all home appliances are connected to your Internet. When this happens, you will be able to give the robot even more to do.

9. Jarvis is only going to get better as AI technology is expected to improve over the coming five and 10 years. However, Amazon Echo is one item it can work with.

Your professional success and personal happiness both depend on staying motivated.

1. Start making a schedule

Not reporting to an office every day or punching a clock can be an amazing thing. It also can pose a tremendous challenge. You can wake up when you want, take breaks when you want, eat when you want and stop working when you want. With so much autonomy, it's important to discipline yourself by setting a daily schedule.

Determine your standard lunch break and your typical end of the day. You might not be able to follow precisely the same schedule every day things do come up, and some will need your immediate attention. Still, working on a schedule can help keep you on track and productive.

2. Take Few breaks in a day.

Design your daily schedule with short breaks in mind. Limit each to 10 or 20 minutes, or you risk getting swept into a sucking hole of unproductivity. These breaks are particularly helpful if you're struggling with a problem. Take a step back, focus on something else, and come back with fresh eyes. Consider taking a quick walk outside or engaging in some other form of activity. Get a glass of water, meditate or surf social media to shift your mindset.

3. Think about the possibility.

What did you do before you decided to start a business? What do your friends and family do? Chances are, at least some of them report to a cubicle every day and work the same 9-to-5 job all year round, with only two weeks of vacation in the mix. While being an entrepreneur definitely isn’t easy, it’s not boring, either. You can make your own schedule and set your own goals without a boss breathing down your neck.

Visit one of your friends at work and spend a little time in the square box she or he calls an office. My guess is you’ll be running back to your business with a new sense of appreciation for the lifestyle it makes possible.

4. Be Flexible

Try changing it up: Work from a coffee house one day, a library the next and a park the day after that. Changing your scenery will keep you on your toes and might even pique your creativity.

Take a longer lunch break and meet a friend at a fun restaurant. Break early one day to catch a drink with friends. Or go out late one night and give yourself permission to sleep in the next day. These all are perks you can enjoy as an entrepreneur. Realize what a gift that is and exercise that flexibility in moderation, of course. In the long term, it's only going to help your productivity.

5. Think about your future.

Don’t be afraid to dream big and don't ignore the fact your daily activities are what it takes to attain your ultimate vision. Write down your goals and post them where you're sure to see them. They'll serve as an added reminder when you get a bit down or frustrated. You might look to success stories from other entrepreneurs. Finally, don’t forget to reward yourself as you meet each goal. You worked hard, and you deserve to celebrate those victories.

Top 10 Money Habits

1. Stay dedicated to your financial goals

One habit you need to develop is clarity toward your goals. Your goals can shape your attitude toward whatever you do and put you in the right perspective about your financial life. Lack of clarity is equivalent to having no goals at all.

Developing a habit of being clear about your financial goals will also create a sense of focus, which is the psychological effect of setting goals. Let's assume your aim is to start your own business this year. You'll outline how much funding is required to do that, and how much you want to raise yourself.

2. Overcoming guilt with money.

One habit which keeps a person from growing financially is how he or she feels about money. A lot of people feel guilty, which is why they often find it difficult to discuss the financial terms of a business relationship before starting one.

Develop a positive attitude toward money this year by overcoming any guilt you feel about money.

3. Earn Extra income

The best way to improve your financial life this year is to use your free time to earn an extra income. Start by looking at areas where you can fill a need and earn extra money in the process.

You could freelance for businesses or help people with things they can't do themselves. Khan said he was able to start two small businesses apart from his main job when he noticed he could use his free time to help others. Now that his side businesses are growing, he hires people to help him run the business.

4. Clear your debts a priority.

One of the biggest hindrances to financial growth is debt. The problem is that debt keeps compounding, making it your most expensive liability. Start paying off your debt with each paycheck you earn. By forming this habit, you could become debt-free by the end of 2017.

5. Save to secure your future.

Make saving a habit in 2017. The more you save, the more you'll have when you retire. JPMorgan Chase puts together an annual guide to retirement that provides investment and savings strategies for all stages of life.

6. Separate relationship from business.

A lot of relationships have gone to ruin because of money. In 2017, be careful when forming business relationships. Make sure you know enough about someone before entering into such a relationship. Use background check tools like Check Them or Check People before a first meeting. Entering into a relationship with the wrong person could be costly or devastating to your financial life.

7.Don't see money as Goal

Many people get the notion of money very wrong. Because we see money as the end goal, it affects our orientation about it. See money as what it is and what it's meant to be a tool, a means to an end. What the end is for everyone of us may be different. For most, it might be happiness, while for others it's simply a comfortable lifestyle.

8. Take advice from expertise

Develop a habit of seeking advice before making any major financial decision. This will help you avoid making any decision you'll end up regretting. When you make a habit of seeking financial advice, you'll be less likely to take financial risks that could hurt your lifestyle.

9. Don't Buy without planning

Make it a habit of spending only on things you need. Cut back on impulse buying by weighing your options before making any purchase. When you buy on impulse, you only gain a temporary sense of satisfaction. Once this instant gratification has worn off, what you're left with is a shrunken purse and a tinge of regret, or buyer's remorse.

10. Live below your means.

Many wealthy individuals mastered the habit of living below their means, even before they became hugely successful. A lot of wealthy individuals prefer to live a frugal lifestyle.

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