Showing posts with label longevity. Show all posts
Showing posts with label longevity. Show all posts

Friday, 2 August 2019

Start up business realities

While startup life seems glamorous at best when it comes to dizzying valuations, the truth of the matter remains that 70% of all businesses (with employees) fail within 10 years. Business failure is a harsh reality. While 80% will make it past that first-year mark, only about two-thirds of all businesses with employees are able to survive their second year. The fifth year? Just half. Ten years out? Just 30%. 

There are some specific reasons why these businesses are failing. 
  • You won't fail unless you entirely give up. 
  • If you don't put your customers first, the potential for failure skyrockets.
  • Regardless of your situation, find a good mentor who can help you navigate the stormy waters of any business in the current climate.
  • Focus on the long term. Do your best today.
  • Successful businesses deliver the most value. Find a way that you can under-promise but over-deliver. Always over-deliver. No matter what the situation. If you're looking for a fast buck or to get rich quick, you'll quickly find yourself at a dead end. 
  • If you can't connect with your target audience, your business will fail.
  • The truth is that it's hard to sell anything to straight cold traffic.
  • Businesses that lack authenticity and transparency will fail. 
  • Staying afloat is exponentially harder when competition is fierce.
  • It's easy to spend when the coffers are full. When the expenses spiral out of control, or a founder uses much of the company's money for personal or frivolous expenses, it's impossible for the business to survive.
  • When problems do arise navigating those murky waters becomes an impossible task for newcomers without real business world experience. Businesses need to build up their board of seasoned advisers, and founders need to find trusted mentors, if they're serious about longevity.
  • Your employee tribe and culture is crucial for long-term success.

Monday, 19 February 2018

Laws grind the poor, and rich men rule the law

The significant achievement of human civilization during past 300 years is the evolution of law in a structured manner and conceptualization and enforcement of 'equality before law'. It is the fact that the poor suffers in the hands of law, and the rich men enjoys the life without much botheration about law. A poor man getting into any problem cannot come out of the police station or court easily and jailed easily with no means to get a bail. Whereas a rich politician or businessman, in most situations, come out of the station very easily with the influence of money and muscle power avoiding jail with simple bail. Accused poor is always always convicted and the accused rich are mostly acquitted. This is what happening in our country. 

  • A law is made with the express intent to help people in getting justice through a legal system, thereby aiming to achieve the ‘greatest happiness of the greatest number’. But very often the law fails to serve this purpose.
  • There just cannot be one law for the rich and connected, and another for the poor and unconnected. Everyone is entitled to be treated equally in his dealings with the public authorities.
  • The innocent, simple, illiterate and the poor cannot access legal procedure because it is highly expensive, complicated and time-consuming to them. So they look upon law from a distance as a frightening scarecrow.
  • On the other hand, some people in society like those strong, greedy birds, tame, twist or tarnish a law and use it for their own benefits. Some others follow suit and seize the opportunity, too. Thus the law is made into a no-more frightening, rather a tattered scarecrow.
  • It is this second group that is mainly responsible for making many laws ineffective. Not only that, they make law an accomplice in fulfilling their greed for power and possessions.
  • Our laws are adequate for the purposes intended. Our weak point is the enforcement part. We have a system, but we do not seem to be able to work the system according to the Rule of Law which posits three things: (1) that everyone is deemed equal before the law; (2) that the law is applied in its generality; and, (3) that the law is applied neutrally.
  • Generality of laws, the Equality of everyone before the law, and the Neutrality of the law means that if any law is used to target a person, a group or a class of persons, then the Rule of Law is breached.
  • The Commercial Division of High Courts Bill, 2009 has as its foundation a special provision with the objective of achieving quicker disposal by expert tribunals that involve a sum of Rs.5 crore or more. The idea is to facilitate their early disposal so that the rich who are involved in such disputes do not have to wait for too long for a final adjudication. 
  • Meanwhile, the poor person whose litigation mostly involves a value that is below Rs.5 crore has to wait for the outcome at the Munsiff’s Court, the District Court, the High Court, and the Supreme Court that take decades before a final judgment comes. Often it takes more than a generation. 
  • Obviously the rich are favoured by helping them achieve early finality while the poor and the middle classes have to hang on often for a life-time for an outcome. 
  • Democracy is fundamentally equality of the judicial process. To make the monetary value of a commercial dispute the basis of classification is undemocratic. Indian socialism and democracy are the victims of feudalism, capitalism and corporate control, even as the courts enjoy longevity without accountability. 
  • The legislation classifies litigation into two categories. The poor litigant will wait for the somnolescent process and leisurely pronouncement and the wealthy litigant will have his case speedily terminated. If this be the differentiation, it is horrendous and outrageous in a socialist democracy. Perhaps Oliver Goldsmith was right when he said “Laws grind the poor, and rich men rule the law.”

Let justice be done, though the heavens fall.
Be ye ever so high, still the law is above you ... Thomas Fuller