Updates from Pune LetzMeet Event (28-July-2018)

Check out some feedback and images from LetzMeet Business Networking Event completed last Saturday. 2 deals closed already and many talks in progress for more deals. More details read from participant below.

 

Sharing of Opportunities
Sharing of Opportunities
Happy Businesses
Happy Businesses
Lots of Action
Lots of Action

Upcoming Bangalore Meetings

Upcoming Pune Meeting

Upcoming Mumbai Meeting

  • To be announced.

 

How to get Highest Level of Motivation?

“Before you start some work, always ask yourself three questions – Will I be able to do it, What the results might be and Do the results matter to me. In short asking why am I doing this task? Only when you think deeply and find satisfactory answers to these questions, go ahead.”

The above quote from ‘Artha Shastra’ tells us how to bring maximum energy into task that we are trying to perform.

  • Will I be able to do what I am trying to do ?

When we are not able to answer this question we are lacking in self belief and hence we have to resolve this by understanding why self belief is lacking and how we can improve it.

 

  • Will results come from actions ?

When we are not able to answer this question we are doubting the utility of the actions, one way we can answer this question is by comparing results of others who performed the same actions and what results it produced.

  • Do the results matter to me?

Sometimes results are not meaningful for us and that is single biggest reason for us not taking up certain tasks. For example some students may not value high grades that much and hence do not want to spend more time on studies. The way to correct it is by understanding the benefit which we may be able to connect with, this will completely change motivation levels. For example a student may not be interested in studying accounting to get high grades, but she may be interested in studying accounting if it is fun and helps her prepare for entrepreneurship.

Enjoy the Day!

LetzGain, Now Largest Business Referral Network in India

 

Screenshot_2018-07-30 LetzGain Business Networking , Business Networking Events

Thanks to your kind support and love, LetzGain now has more than 1 lakh business owners and daily hundreds of new members are joining LetzGain Network.

For the business owners who understand that networking delivers long term Gains, LetzGain is (the largest) Business Networking platform in India with more than 1 lac business owners who systematically generate thousands of opportunities by referring their requirements, contacts and knowledge for each other.

Unlike traditional business networks, LetzGain provides the most Productive Business Networking experience through the powerful combination of Web, Mobile apps and in person meetings(LetzMeet)

LetzGain apps and meetings, rapidly improve speed of exchanging business opportunities and you expand your business network with ease. The system is designed to continuously help your improve your networking skills.

We look forward to serving more and more Businesses, Letz join hands and create more Gains for all of us!

4 Proven Ways to Grow your Business

tam-sam-target-penetrated-market

 

In the above Image there are four generic strategies to expand your user base or customer base. Let’s go through one by one

P3: Increase Awareness
Easiest strategy we all can think of easily to grow awareness about our product/service or business among targeted market. Awareness is typically grown using advertising and if you can manage advertising to deliver great ROI for you then this strategy will help you grow your business.

Typically businesses get listed on Online Directories, Advertise on online/offline media.

Other way to grow Awareness is through referrals. Your spend on referral marketing can be far more effective and deliver higher ROI than Advertising spends, especially for small and medium businesses.

P2: Improve Positioning

You can improve people who are more likely to buy from you by simply positioning your business for a particular niche or segment for whom you are not targeting right now. This will be especially effective if you can come up with customized message or offer for that segment. For example a Real Estate consultant can specifically specialize in office rental deals and customize a package for technology startups.  The consultant would be able add new types of customers to existing customer base.

P1: New Sales Channels

You will be able to serve Customers whom you are not available to serve right now because you do not have a sales channel to reach them, if you invest in developing new sales channel for yourself it will be a great differentiator for you and help you grow a lot. But building new channels requires long term commitment and sometimes capital. However there may be innovative ways to distribute your products and services which may help you grow more than others.

P0: Grow Scope of Product/Service

You will be able to sometimes grow Total Available Market by expanding scope of the category. Finding new uses for your product/Services or by helping existing customers by launching some additional value added services. Like a Real Estate Agent tying up with Packers and Movers is able to offer rental solution as well as earn some additional revenue by referring Packers and Movers in the network.

On LetzGain Business Networking App you will find partners, consultants, collaborators for implementing all these four strategies.

Good Luck, Letz Keep Growing!

LetzGain Philosophy

letzgainBanner

Listed below are some key elements of LetzGain Philosophy. Understand them well to get maximum out of LetzGain and Business Networking in general.

Be Result Oriented:

LetzGain members focuses on delivering results for each other.

All the content and activities in LetzGain are action oriented.
Requirements, Ads on LetzGain goes through lot of quality checks.

LetzGain provides automation for you to discover higher quality leads and bids on your purchase requirements.

“ Networking is not about just connecting people. It’s about connecting people with people, people with ideas, and people with opportunities. “   Michele Jennae

 

Focus on Long Term Relations:

LetzGain members  believes in building long term relationships that create tremendous value through exchange of knowledge, referrals and contacts.


If you want 1 year of prosperity, grow grain. If you want 10 years of prosperity, grow trees. If you want 100 years of prosperity, grow people.    Chinese Proverb

 

Take Initiative to HELP:

Every LetzGain member proactively finds opportunities to help other LetzGain members by sharing knowledge, referrals, contacts and at times resources. We are one family and we need to ensure that all of us grow together in our endeavors.

The successful net-workers I know, the ones receiving tons of referrals and feeling truly happy about themselves, continually put the other person’s needs ahead of their own.      Bob Burg

Givers Win Always:

LetzGain system and activities are ALWAYS designed in a way that Givers get maximum win in LetzGain. For example those who share maximum referrals in community or invite lot of quality business owners on platform always get more visibility in system through various features. They also get more time to present in LetzMeet Events.


“A really important part of networking is actually about what you bring to the table-not just what you want to get out of it. Contribution is a big part of networking success. Gina Romero

Story of Farmer – Winning Together, The LetzGain Motto

win-together

When a newspaper reporter interviewed a farmer who grew Award-Winning Maize each year he entered his maize in the Agricultural Show, it was revealed that the farmer shared his seed with his neighbors.

Perplexed, the reporter asked, “How can you afford to share your best seed with your neighbors when they are entering their maize in competition with yours each year?”

The farmer smiled knowingly and explained, “The wind picks up pollen from the ripening maize and swirls it from field to field. If my neighbors grow inferior maize, Cross-Pollination will steadily degrade the quality of my maize.

If I am to grow good maize, I must help my neighbors grow a good crop.

”So it is with our lives. Those who want to live meaningfully and well, must help enrich the lives of others.

For the value of a life, is measured by the lives it touches. And those who choose to be happy, must help others find happiness.

For the welfare of each is bound up with the welfare of all.

Call it power of Group.
Call it a “principle of success”. Call it a law of life.

The fact remains, “None of us truly wins, until we all win.”
(This is also philosophy of LetzGain)

Keep this in mind as you grow your business and make it long lasting organization!

*In life, when you help the people around you to be good, you surely become the best.

Karma in Business Networking

karma

Successful people are always looking to help others without any thoughts, Unsuccessful people are blocked by thought, Whats in it for me?

When we help someone in our Network, we setup a positive cycle.

We never know how that person will eventually help us in sometime future.

Even if that does not happen, at least you get happiness from helping someone and sometimes the positivity itself helps you achieve many of your goals.

So keep posting requirements and referrals for others in LetzGain, the positive cycle will benefit you in a strong way!

Essence of Powerful Network

Power Network

1. Name the 3 Businesses that won Government Awards Last Year
2. Name the last 3 New Listings on Stock Market
3. Name the last 3 Startups from India who won the Innovation Awards

How did you do?
.
.
.
The point is, none of us remembers the headlines of yesterday !!

Even though these businesses must be the best in their fields !!

Applause dies !!

Awards are tarnished and
achievements
are forgotten …..!!

Here’s another quiz:

Let’s see how this goes:

1. Name 3 Trainers who helped you learn something to improve your business

2. Name 3 Business friends who helped you through difficult times.

3. Name 3 Customers who stood by you in difficult market conditions

4. Name 3 people who referred you New Customers

5. Name 3 Business Friends with whom you enjoy spending time
.
.

Easier…..right?😊

The Business people who make a difference in your life are NOT the ones with prestigious  awards and loads of money !!

Life is full of people in your Business Network who have made the world a better place for YOU !!

Cherish them !!

Hold Them Tight !!

Build relations which make difference to Your business and You can make difference to theirs.

Important News for Micro Small Medium enterprises in India

Big Amendment to MSMED Act on February 7th, 2018

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved change in the basis of classifying Micro, Small and Medium enterprises from ‘investment in plant & machinery/equipment’ to ‘annual turnover’.

This will encourage ease of doing business, make the norms of classification growth oriented and align them to the new tax regime revolving around GST (Goods & Services Tax).

Section 7 of theMicro, Small and Medium Enterprises Development (MSMED)  Act, 2006 will accordingly be amended to define units producing goods and rendering services in terms of annual turnover as follows:

  • A micro enterprise will be defined as a unit where the annual turnover does not exceed five crore rupees;
  • A small enterprise will be defined as a unit where the annual turnover is more than five crore rupees but does not exceed Rs 75 crore;
  • A medium enterprise will be defined as a unit where the annual turnover is more than seventy five crore rupees but does not exceed Rs 250 crore.
  • Additionally, the Central Government may, by notification, vary turnover limits, which shall not exceed thrice the limits specified in Section 7 of the MSMED Act.

At present the MSMED Act (Section 7) classifies the Micro, Small and Medium Enterprises (MSMEs) on the basis of investment in plant and machinery for manufacturing units, and investment in equipment for service enterprises. The criterion of investment in plant and machinery stipulates self declaration which in turn entails verification if deemed necessary and leads to transaction costs.

Taking turnover as a criterion can be pegged with reliable figures available e.g. in GST Network and other methods of ascertaining which will help in having a non discretionary, transparent and objective criteria and will eliminate the need for inspections, make the classification system progressive and evolutionary, help in overcoming the uncertainties associated with the classification based on investment in plant & machinery/equipment and employment, and improve the ease of doing business. In addition the amendment will provide flexibility to the Government to fine-tune the classification of MSMEs in response to changing economic scenario without resorting to the amendment of MSMED (Micro, Small & Medium Enterprises Development) Act.

The change in the norms of classification will enhance the ease of doing business. The consequent  growth and will pave the way for increased direct and indirect employment in the MSME sector of the country.