Let us discuss here the fundamentals of business:

1. First and the foremost question is: are you ready to face the challenges in business emotionally? A businessman should have a strong Emotional Intelligence. Your emotional health is measured with Emotional Quotient. All those businessmen who do not know how to tackle tensions and worries in business, they usually die young.
2. The way you keep your customers happy, in the same way you should also keep your vendors/ suppliers happy. Your vendors / suppliers need payment from you. Stop giving them cheques. Pay them online.
3. Save yourself from three coats– white coat (doctors), black coat (lawyers) and khaki coat (police).
4. Run for success, not money. Whatever profession you choose, make yourself focussed and best in it. Money is a by-product of success. Once you are successful, money will automatically follow.
5. Avoid giving credit. In the beginning you may have to give credit but avoid it as much as possible. Giving credit may become a hurdle in your business expansion. Always give a bill to your customer.
6. Set your goals. Each second of yours is important for your business so wear a watch which shows you seconds also. Be punctual. Make yourself regimented and disciplined.
7. Change your habits. A good businessman is always in a learning mode. He does everything right in time. Stop procrastination now.

Click below to watch the full video (in Hindi):