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Challenges as an Entrepreneur and How to Evolve

Being an entrepreneur can be surely rewarding but it does need a lot of effort and time to put in. They are surrounded with lots of responsibilities, financial pressure, hurdles, and uncertainty. In today’s ultra-competitive world, an entrepreneur has to face lots of challenges and hardships that are often overlooked. Even experienced entrepreneurs deal with these rewarding yet harsh challenges, no matter how many years they’ve been in the sphere or how well they’ve established their business. This is because every entrepreneur has to adapt to the changing trends and outperform the competitors to keep the business profitable by all means. So, if you are the one newly getting into the game, be prepared to face significant challenges on your way. There are few common challenges faced by all entrepreneurs and knowing them will help the budding entrepreneurs handle the problems and operate an efficient, successful business.

Financing:

When it comes to funding, both newcomers and experienced entrepreneurs have a similar trouble – the Capital. However, experienced ones are at an advantage as they have a steady stream of revenue or able to pool in capital from their existing or previous business, to fund their new business’s cash flow. But as a new entrepreneur, you need to start from scratch and network with investors or make arrangements for capital on your own by hunting possible funding options. You can choose bank loans, funding from investors, or even go for Kickstarter campaigns with your startup ideas. But still funding your business endeavors on your own is a preferred option by many for a self-fueled growth. You need not launch a multi-million dollar business overnight, but start by focusing on a minimal circle of core customers to move ahead bigger. This way you will save some funds for your business cash flow.

Money Management:

For the survival of any small business, cash flow is essential. This is the prime reason why many entrepreneurs who succeed in their funding stage fall short in their cash flow management. This generally happens because of poor money management skills. As an entrepreneur, you need to be good at managing your cash flow by using your funds wisely. You have to plan proper budgeting and maintain optimum cash flow within it. Even though businesses provide significant income, it is also prone to risks, so, learn to save emergency funds. Oftentimes, business incomes are inconsistent and so entrepreneurs should be prepared for the highs and lows with effective money management skills.

Time Management:

Since entrepreneurs have to wear so many hats, time management stands as the biggest problem for them. Fortunately, we live in a highly advanced technological age, where you can find lots of tools to use your time efficiently and manage your schedules. Make sure to steer clear of time-wasting activities and focus your time more on what will help your business grow further. Like money, be smart about spending your time as well. You can create goal lists, broken down into simpler specific tasks that have to be accomplished every week or every day. This way, you will have your to-dos organized, your goals accomplished, and you will always stay on track. Also, don’t forget to delegate tasks, when and where possible, as it will save you lots of time. But see to it that you are prudent to choose the right person for delegation, or else you might regret.

Facing Competition:

Competition has hit every single aspect of life today. There is no such business where you don’t find any competitors in your way. When you start a business, you basically start to compete with your co-marketers in the field. It is not quite easy to overcome the competitors and there are times when entrepreneurs have to face roadblocks that impede the progress of the business. Some might even go overboard finding all ways to push you down out of the market. Fortunately, the more you rile up with the competitors, the better are the prospects of your business. So when you are pressured by competitors, it means you are being noticed in the market and seen as a threat. If you want to overcome the competition, you need to maintain your products’ quality and type ahead of others so that you can outrun them and stay successfully in the market. Aggressive competition and marketing is a norm in today’s business world, and entrepreneurs must have a thick skin and should know how to survive the competition to get ahead successfully.

Overcoming Uncertainty:

Every business revolves around certain uncertainty and unpredictability. It might be exhilarating to be your own boss and set up your own hours of work, but unfortunately, in business, you do not always guarantee a steady paycheck. Entrepreneurship is about entering the unknowns and every entrepreneur should be prepared to face the unpredictability in any form. It might be disturbing at first to abandon all the accomplishments of the former day-job career but still, the eventual payoff, when the launched business becomes a success, is far greater than anything.

Overall, every entrepreneur has to face different kinds of challenges along their road to the big vision. The knowledge and skills accompanied with hard work and the right resources at hand can take an entrepreneur ahead onto the path of success, overcoming all hurdles/challenges along the way and forge ahead.

Remember, for an individual to succeed as an entrepreneur, it takes not only hard work and financial resources but also the professional knowledge and skills related to taking on entrepreneurship as a career. This responsibility of preparing the aspirants with necessary knowledge and skill set falls largely on the shoulders of the educational system that provides the students a conducive learning environment that favors the acquisition of entrepreneurship skills. This is what exactly we, at the JK Lakshmipat University, have been doing ever since our inception.

We, at JKLU, offer business administration programs designed to enable the students to meet the growing needs of the business world, putting the emphasis on efficiently preparing the entrepreneurs and professionals for tomorrow. With the specialization in entrepreneurship, students are nurtured with career-specific skills and intangible entrepreneurship traits to shape them into enterprising individuals, who can initiate and solve problems creatively.

The combination of business management and entrepreneurship at JKLU caters to bridge the gap between theoretical knowledge and practice, thereby equipping the students with all the know-how to launch a business successfully. When students are equipped with all the essential skills, they have the power to bring innovative ideas into reality and emerge as successful entrepreneurs.

How Your College Education Influences Your Future Professional Growth

The top priority for any ambitious student always remains at learning and equipping himself/herself with skills that are valuable both personally and professionally. However, what one needs to realize is that learning is not, and should not be, confined to the classrooms. When students take on their degrees, they are in the process of learning much beyond the academic knowledge and gaining crucial skill sets for their future career. As such, it becomes important that students learn and gain from every part of their college experience,which serves to provide them with immense opportunities to develop their abilities, skills, attitude, and aptitude, and also help them gain confidence to work efficiently in a professional environment which they’ll encounter post their student life. It has to be admitted that the entire learning environment offered by an educational institute,backed with strong guidance from the faculty, is what helps mold a student’s capabilities and influences his/her future professional growth.

Professional skill set is something that every student needs to acquire to establish a successful career. To have a good professional life ahead, it becomes necessary that students gain far beyond academic excellence; theygain technical know-how and hands-on experience related to their subject. When it comes to academic learning, the rigorous curriculum, access to technology-based resources, quality instructors/faculty, the institutional infrastructure, and learning environment serve as the important factors that aid in raising a student’s achievement professionally.

How Education Influences One’s Personal/Professional Capabilities?

Undertaking a professional course is clearly about gaining academic knowledge and industry experience, but it is also about developing one’s professional and personal capabilities. Whether you want to prepare yourself for a career, or broaden your professional/personal capabilities, or enhance your skills and improve your employability, your educational institution is the best place where you acquire and develop professional capabilities. The course of action during one’s education forms the foundation for the professional career and growth ahead.

Soft Skills Development:

Soft skills constitute the core of a person’s capabilities when it comes to attaining professional success. This is because your technical skills can easily get you the desired job, but it is actually your soft skills that will help you sustain the job. Some of the essential soft skills that you acquire during the time you spend in your University are verbal/written communication, teamwork, problem-solving ability, time management, collaboration, and leadership qualities. We, at the J.K. Lakshmipat University, offer the necessary platform to our students to gain these skills during their coursework. Through various programs and activities, students are efficiently trained to clearly define problems, analyze data, design and execute appropriate experiments, and draw conclusions. Students are given the opportunities to objectively analyze and evaluate information in every situation and develop appropriate solutions to the problems. Whether it is about succeeding in personal endeavors or establishing a strong base for the professional life ahead, we help our students master the ‘soft skills’ through various personality development programs and workshops held at the University.

Career Preparation:

Activities conducted at the J.K. Lakshmipat University enable students to be cognizant of and be prepared for the industry conditions and identify the opportunities that best serve their long-term career interests. Students are involved in various skill-focused activities as a part of the course curriculum and are engaged in industry-based research and internship programs that help them prepare for their career development. Hands-on experience is highly encouraged in most of the departments to ensure graduates are aware of the industry and are well-versed with the practical application of the theoretical knowledge gained. With activities like internship programs, research works, job-shadowing, training sessions, job-based simulations, and mentorships, students are provided the needed exposure to face the real-world job market and achieve a mastery on their technical/professional skills.

Knowledge Development:

Once you get graduated, you need to take your knowledge and expertise into a career beyond.  Employers prefer graduates who are up to date, are able to gather information, and have the ability to identify/address key issues from multiple perspectives. Your learning environment at your educational institution is where you are provided with the needed theoretical knowledge and researching capabilities that will transform you into academically and practically trained career-ready individuals. The research assignments and projects are designed tohelp train students to deploy their academic knowledge and prepare for the professional sphere. Similarly, on-campus research and other scholarly activities within the institutionare intended to expose the students to more opportunities for knowledge acquisition.

Apart from the academic knowledge, the researches help the students to apply discipline-specific subject knowledge and training productively. JKLU offers structured training programs to help improve the personal and professional competencies of the students.

In short, there is no other better place than your educational institute to facilitate research and knowledge development. Admittedly, your degree has a major influence on your future professional growth. However, it is not only the right course or the degree that matters, choosing the right college/university also matter a lot, as this is the place where you get the right learning environment and opportunities. A well-equipped university or educational institution provides students with ample opportunities to develop and improve their skills, traits, and the attitude for successfully pursuing their future goals. In that sense, J.K. Lakshmipat University is a well-established institution known for its world-class education backed by state-of-the-art infrastructure and industry-vetted curriculum to facilitate a cutting-edge holistic learning experience for students who are nurtured to be developed into productive professionals of tomorrow.

The J.K. Lakshmipat University, through a value-based learning environment, equips its students with globally relevant, future-ready intelligence that in turn helps to promotetheir professional development in the best possible way. Rigorous academic curriculum coupled with the guidance and assistance provided by highly experienced, dynamic faculty places a strong prospect for building technocrats and employable professionals of tomorrow.

It is undeniable that a positive learning environment serves as the cornerstone for students to acquire the opportunities to hone their skills and become more knowledgeable about their domain to achieve career success. As such, one’s graduate degree and the institution where thegroundwork is laid turn out to be of great importance in enhancing one’s employability score in the market.

Industry-Institute Interface: Education beyond Boundaries

As per the Annual Status of Higher Education (ASHE) report 2016 from CII, the Draft National Education policy 2016 has been conceptualized to be a response to the main challenges that exist in the education sector in India. One of the main goals of this policy is to align higher education with skill development objectives, to facilitate the acquisition of technical and vocational skills that enhance employability. In this era of growing number of private/self-financed higher educational Institutes, the challenges for this Country are also changing its shape. The challenges are to engage the so-called trained youth in the employment matching to their expectation as per their qualification.

To match formal education with employability, a good interface between Industries and Institutes is required and it would need active participation from both. The efforts may be in the form of fruitful internships, flexible curriculum permitting students to work at industries in final year, industry visits, and faculty recharge programs at the industries, joint workshops, training programs, conferences, talks, curriculum development, etc. Continue reading

How to make classes more interesting

Sometimes, it is observe that many students take a lot more interest in certain engineering courses than others. There are courses that students want to learn, sessions are well attended. Student performance in these classes is often reflected in their grades. On the other hand, there are classes in which students enroll only because those classes are required for the degree they are pursuing. Those classes usually do not fill up, students often skip sessions, and the poor performance is reflected in the grades.

So, the author tells how to make such classes so appealing to generate the student interest. In the best university in Jaipur, JKLU, an engineering class can be made interesting and enjoyable by engaging students in activities that are required in an active class. These engaging activities include but are not limited to inviting guest speakers, taking students on field trips, showing related documentaries, involving students in laboratory work, involving students in research projects, having students develop laboratory apparatus and involving them in writing grants and research papers. By using these and other activities, Instructor not only earns respect in the eyes of the students but also make the discipline of engineering a worthwhile field of study. There are some other activities that an instructor at top universities in Jaipur, Rajasthan can add to his class to make the class more interesting for students. Continue reading

Engineering & Technology Education in Rajasthan

The Engineering and Technical education in the state of Rajasthan is making its impact on educational landscape of India. It has more than 125 technical institutes with total intake of 54,000 undergraduates. Now, Jaipur is emerging as city of choice for engineering aspirants in the state of Rajasthan due to existence of prestigious institutions. Are you interested in studying engineering and technology in Jaipur? Or are you looking for the best engineering college in Rajasthan? If yes, then you need to look for institutions having the best infrastructure facilities, state-of-art laboratories, excellent faculty, an  institute that is a part of a private University, managed by former academicians from IIMs, faculty that is exposed to the education systems of Canada, Germany and the United Kingdom, and supported by top notch industrial house of India. In this case, Institute of Engineering and Technology (IET) at JK Lakshmipat University, Jaipur popularly called JKLU, may be one of your choices. IET at JKLU is supported by one of the leading corporate houses of India i.e. JK Organization (JKO).

JKO has been closely associated with several industrial bodies in India and abroad such as FICCI, CII and ICIN Paris for more than 120 years. JKO has business interests in manufacturing of Pulp and paper, Cement and Clinkerisation, Industrial and automobile belts, Power generation and transmission systems, Non-conventional power generation systems, dairies and products, Insurance and re-insurances, and clinical research to name but a few. This helps engineering graduates get exposed to modern industrial experiences and remain abreast with technological innovative practices in the industry. IET at JKLU has excellent faculty members in various disciplines of engineering; as well has some of the best engineering programs in Jaipur. Continue reading

From the Desk of Vice Chancellor

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Dr. Devi Singh

Vice Chancellor
JK Lakshmipat University, Jaipur

We are witnesses of and partakers in the most crucial transition our nation has ever seen. India is metamorphosing economically, technologically, culturally and even socially. As the demographic dividend becomes a household term, the Indian higher education system is readying the largest army of future professionals, who will lead this transition and address the needs of the global industry and society, at large. The influence of professional education is thus undeniable, and it is binding that the educational institutes produce industry-compatible quality professionals. The definition of industry compatibility has evolved beyond intellectual capacity, and has embraced the essentiality of human values and emotional genius. The University thus, as the representative of the higher education system, plays a fundamental role in initiating and automating principled professional and personal growth in a future manager and engineer.

JKLU, takes pride in cultivating competent thought leaders, focused on finding answers to the problems of the society. We measure the qualitative strength of our academic and co-curricular design by the extent of intellectual, moral and spiritual stimulation and in developing innovation-driven leadership among students. Students form the axis and drivers of all activity on the campus. With the encouraging insights from learned faculty and nurturing leadership of the management, students drive the vision of the institute, and undertake a journey of professional and personal self-discovery. Continue reading