LEADERSHIP SKILLS

Very few people are great leaders overnight. It takes time and practice. As long as you’re open about learning along the way and working with your team on leadership versus dictating to them, most people will be happy to go on the journey with you.

Leadership skills come after a person has tested his waters. What I mean to say is he or she has understood and accepted himself or herself completely. Once you know what you can do and do well, you can build up on that while leading others.

1. Lead By Example. You can’t be an aloof leader, someone that’s never around and incapable of getting your hands dirty. One of the best ways to lead is by example – pitching in where needed, lending a helping hand, and making sure that the work you do is clearly understood by your team.
2. Passion. A leader without passion isn’t a leader. He’s a paper pusher. Or a taskmaster. Or a government employee… Passion drives a lot, and you can inspire so much in others through your own passion and enthusiasm. That doesn’t mean you have to be constantly cheery, it means you’ve got to believe in what you’re doing and what your company is doing.
3. Be Organized. A disorganized leader isn’t leading, he’s chasing his own tail. Disorganization breeds nothing but more disorganization. If you’re frazzled and messy, your team will be too. When you’re organized you’ll be much more productive and so will everyone else.
4. Delegate. You can’t do everything. A great leader needs to be able to delegate effectively. The key to delegating successfully is giving employees ownership of the work you assign them. They can’t just feel like they own the work, they really have to.
5. Take Ownership and Responsibility. Although you’ve just delegated work and truly given your team ownership, you also have to take ownership and responsibility at all times. Your team has to know you’ll be there for them through the good and the bad times. That doesn’t mean you absolve people from making mistakes or ignore crappy work/effort, but it does mean you take responsibility for the big picture.
6. Communicate Effectively. Duh. Everyone knows great leaders have to be great communicators. But there are certain points of communication that many people forget. For example, it’s critical that you communicate to employees how their work matters in the bigger picture. Are they a cog, or does their work truly make a difference?

Communicating success is also something leaders forget to do. People need affirmation. They want to know they did a good job. You just have to tell them.Business set up in India

And be precise. Insecure leaders will often ramble; uninterested leaders cut things off to quickly. Whether you’re giving praise, providing constructive criticism, or defining goals and to-dos, you have to figure out how much to say and in what order. Be precise, specific and concise. Get to the point.

7. Be Brave and Honest. Cowardly leaders will shy away from any number of situations that crop up regularly when running a team. The project your team has worked on for 6 months just got shelved. Now what? Or you have to talk to someone about their lack of effort recently. Do you ignore the problem? Or maybe it’s time to take your product into a new market. Do you hobble forward, scared and nervous, or do you grab the market by the throat?

Leaders are brave. And honest. Tell it like it is. Don’t sugarcoat, don’t obfuscate. Don’t be a jerk either. You have to learn how to present things to your team in an honest but balanced manner.

8. Great Listener. A huge part of being a great communicator is being a great listener. If all you want to do is talk, you’re not a leader. Keeping people motivated means listening to them, asking them questions, understanding their issues. When you listen more, you can respond more effectively and get to the heart of things much faster.
9. Know Your People. You have to know your people. You don’t have to be best friends or even socialize outside work, but you do have to know what makes them tick. You need to know something about their personal lives because their lives outside work matter. Their lives outside work drive a great deal of their success (or lack of) at work. Keep track of simple things: birthdays, marriages, children, etc. The more you know your people the more common ground you’re likely to find, the more you’ll be able to connect.
10. Be a Follower. Benjamin Disraeli said, “I must follow the people. Am I not their leader?” That sums up many of the other points so beautifully. Great leaders are followers too. If you’re a leader without following, you’re a dictator. And as fun as that sounds… Being a leader-follower means finding value in your team, getting inspired by your team, encouraging your team to communicate, brainstorm and be open.

Effective Leadership Skills

For effective leadership & management, the leader needs to have quite a few qualities and skills. So what is it that makes a person an effective leader?

1. Vision: A leader is a visionary and this quality, more than any other, sets a leader apart from the followers. Followers blindly align themselves to the vision and goals of the leader and help the leader accomplish them. But without an envisioned leader, the team will be a directionless group.
2. Ability to Change: The external business environment is becoming more and more dynamic and a leader should be able to change with the times. He should be able to align his vision with what the market wants.
3. Set a Benchmark: A leader should be able to set a performance benchmark and be what he expects the employees to be. He himself should display the set of qualities which he expects from his team.
4. People-Skills: Whatever the monetary and non-monetary rewards, employees will only be really motivated to work if they know what it is that is motivating the leader. So a leader should be able to communicate the effective leadership strategies and his vision to the rest of the team in a way that the employees too feel that 'yes! This is what we want too!'
5. Listening and Not Just Talking: A lot of employees complain that their boss doesn't listen to what they have to contribute and is not open to suggestions. If the leader chooses to listen to what his team has to say, they may be able make valuable suggestions to make a process more effective. Hence, listening too is one of the most important practices for effective leadership.
6. Solving: The path to a goal is often strewn with traps and obstacles. Hence, a leader should have good problem solving and analytical skills which will help him and the team overcome any problem in the path to their goal.
7. Ability to Motivate Others: A leader should know how to get the work done from his team. He should be able to motivate his workers with monetary and non-monetary rewards. He should be able to make his team a part of his vision. A leader should be able to coach his team so that they can give their best performance.
8. Discipline: A leader should be well disciplined himself and should be able to imbibe qualities like professionalism and hard work in his team as well

Confidently Confident

An individual has to be confident, in any case. Yes, a person should have the confidence in his capacities and strengths. At the same time, good leadership skills warrant that a person will have to be mentally prepared if something goes wrong. In case of a managerial set up, an individual will have to delegate work accurately and quickly and hope for things to work out right.

Walk, Talk, Express

A very important skill amongst skills needed to lead people is interpersonal communication. If you do not speak or communicate with others, do not share your thoughts and views, how will you persuade and motivate them? Or at a very basic level tell them what to do? Likewise, a good leader also listens to others and considers their opinions and views just as they do regarding his opinions and thoughts. So the core of all the other things is effective and positive communication. This is a pillar amongst leadership skills for managers. Remember this as a crucial one regarding effective leadership skills.

All Fired Up

Oh no! I am not talking about gunshots. I am talking about the fact that for a person to become a leader, he needs to have a fire and passion for a thing. If a person aspiring to lead others is without a driving force , a strong desire himself, the leading is going to be a huge no-show. The reason? That individual himself is not motivated enough. In that case, that individual will not be able to lead others. So a passion and a strong urge to grow and help others grow, especially in the professional and corporate field is very important for leading others.

In an Instance

People or the followers or subordinates look up to the leader. Leadership qualities and skills, therefore, demand that an individual sets an example for others to follow. In fact by consistently doing that, a person can become a leader. A leader has to pitch in and set high standards and should lead by example. That includes behavioral traits like adaptability, humility, sense of humor and integrity.

Fortune Favors the Brave

A very very tough one amongst leadership skills is to be bold, brave and courageous. A leader has to be brave enough to face any kind of situation and cannot shy away from it. Such leaders know how to divide the work and they grab the problem by the scruff of the neck. Along with this, a person has to be frank and honest to take the responsibility and ownership of a project or anything. There are no shortcuts to this leadership trait!

Look and Decide

In leadership skills, vision and decision making are other to aspects which are inevitable. It is even more important as far as business leadership skills are concerned. Unless a leader has a vision, he or she cannot motivate the others and cannot take decisions regarding that.

Ultimately leadership skills are incomplete if a person does not know the people he is leading well. Hence a leader has to reach to the people and know them. A leader has to know what gets them up and coming and click at their work.

There are a few more things in the leadership skills list, but I guess without these the other minor ones would not count and would be inconsequential! Moreover, it is really difficult to define leadership skills definitely and pin point them. These are just generic skills one needs to have. All this reminds me of what Harry Truman had said, "To be able to lead others, a man must be willing to go forward alone."

CHARACTERISTICS OF A GOOD LEADER

Leaders who have tasted success have done so because of the following reasons:

• Confidence: This is one of the most important and probably the most visible characteristic of a true leader. I have always noticed that no matter what the degree of difficulty they find themselves in, strong leaders always have a sense of confidence and sureness about them. On a personal level, I have tried imbibing this aspect in my daily life and have found that it really works wonders! A super-confident leader can really make a world of difference.
• Communication: Another key characteristic of a good leader; clear and effective communication, is vital for a leader to be successful. Effective communication will ensure that his team thoroughly understands what is expected of them. This translates into appropriate actions which in turn lead to desired results.
• Man Management: A leader must be able to marshal the troops and manage his resources well. Leadership involves having a good sense of understanding between the leader and his team. Each person's views and opinions should be respected and each one's contribution should be acknowledged and appreciated. Being authoritative should not be confused with being dictatorial. A dictator may be a leader, but a leader is not a dictator.
• Decision Maker: Leadership often involves split second decision making. A good leader must think on his feet and should be capable of making quick and smart decisions whenever the need occurs.
• Lead by Example: A leader should always lead by example. Stepping up, shouldering responsibility and getting the job done when the chips are down, is the mark of a true leader.
• Risk Taker: Last but not the least, leadership does require one to take a few risks every now and then. Let me make it clear though, that by taking risks I do not mean being foolhardy and reckless. Risks, when taken, should be taken in a calculated manner and after careful evaluation of the circumstances. It requires good vision along with clarity of thought and action.

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Company Formation service India

1.        Which legal entity is going to be best for what you require?

The most suitable form of entity for carrying out business in India with a long term objective would be to form a Private Limited Company, by making investment through the equity shares in the Company. The basic Requirement for a private Limited Company in India is as follows:-

·         Minimum Two Directors of The company

·         Minimum Two Shareholders of the Company

·         Minimum Capital of the Company should be INR 100000/-

2. How long does the appropriate registration of the above suggested legal entity take?

The formation of the above Entity in India takes Approximate 12-15 Days after receipt of all the necessary Documents, The breakup of the Number of days is as follows :-

Activity	Days
Taking Directors Identification Number (DIN)	1 Day
Taking Digital Signature of Directors	1 Day
Reservation of the name of the Company	5 Days
Preparation of other Document such as MOA,AOA, Forms etc	2 Days
Filling of Documents with Authorities	1 Days
Liaison with the authorities and Correction	3 Days
Getting Final Certificate of Incorporation	2 Days
Total Number of Days	15 Days

3. Formation Cost involved in the formation of the Above Company?

The Cost of formation of Private limited depends on the Authorised Capital of the Company; Following is the breakup of Cost for the formation of the Company with a Minimum required authorised Capital of INR 1 Lac.

Activity	Days
Taking Directors Identification Number (DIN)	INR 1500/- Each Director *2
Taking Digital Signature of Directors	INR 5000/- Each Director*2
Reservation of the name of the Company	INR 1000/-
Filling fees of government for final documents*	INR 6200/-
Other Government Expenses	INR 3000/-
Total Cost	INR 23200/-

* Fees Changes with the amount of Capital of Company

4. What are the operating principles/ legal requirements/ accounting requirements of a foreign company operating in India?

A foreign company operating in India and registered in India is treated as a Local Indian company. Following are the basic information for your information:-

• Subsidiary of Foreign Company need to take RBI Approval for investment made in India.
• Company need to maintain its books of Accounts.
• Company need to get its accounts audited every year.
• Company need to file its tax return annually.
• Company need to file annual account with authorities annually.
• Income tax rates applicable to Companies @30%.
• Company need to have various Business registration with authorities like PAN, TAN, VAT, CST, Services Tax, Profession Tax, Central Excise, Import Export Code, Shop Act etc depending on the applicability.
• Regular Monthly/Quarterly/Six Monthly Return shall be filled for above registration as per applicability.

5. What is the process on getting investment capital into the country? What are the pitfalls of this?

Investment in India is governed by the Foreign Direct Investment Guidelines, Mainly the investment in India is allowed under two Method :

Investment through Prior Approval : In certain nature of business the prior approval is required from the government of India and once the approval is received than the investment can be made in the Indian Company.

Investment under Automatic Route : Most of the Business are allowed to invest under automatic route, Under automatic route the company can invest in Indian Company without prior approval. Once the capital is remitted in the Indian Company within 180 of the introduction of capital the company has to carry out all the necessary document filling with the RBI. Following are the documents.

• Filling intimation of receipt of Share Capital (within 30 Days)
• Filling FCGPR form with share allotment details and other information
• Filling Legal Compliance certificate from Company Secretary.
• Filling share valuation certificate from the Chartered Accountant.

The applicability of the above 5.1 & 5.2 need to be checked based on the nature of activities and business to be conducted by the foreign Company in India.

6. Can another company be sole share holder & director of a Private Limited Company?

As per the Basic requirement for the Company formation we need minimum 2 Shareholders and 2 Directors Hence we need minimum two shareholders and directors. In order to fulfill your requirement we can form Company by giving just one share to the second shareholders. The second shareholder will hold the shares on behalf of the Company itself hence the ownership will be 100% with the Company. In respect of the directorship we need minimum two individual name to be acting as directors of the Company.

7. Do the directors need to be present in person in India to perform the formation?

No the directors need not be present to perform the formation of the Company, They can provide the documents through the courier to our office and we can take care of the things. Further there are certain documents which are required to Notarised or Certified by the Indian embassy in your country. Following are the documents which needs certification.

• Passport of the directors – Duly Notarised
• Proof of the Residential address of Directors – Duly Notarised
• Documents mentioning the father’s name of the directors. (Birth Certificate)
• Declaration of subscription of shares in the own handwriting of the shareholders or person authorised by Company. – Certified by Indian Consulate
• Resolution by the investor Company mentioning about investment in India and authorising any person to sign all documents on the investors behalf.

The above documents shall be duly notarised or certified by Indian Embassy in their country. Know more about information: Know more about information: NGO Registration In India and International transfer pricing

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CREDIT RATING IN INDIA

What is a credit rating agency?
A credit rating agency is an entity which assesses the ability and willingness of the issuer
company for timely payment of interest and principal on a debt instrument

Does SEBI have a role in the rating exercise?
No. SEBI does not play any role in the assessment made by the rating agency. The rating is intended to be an independent, unbiased and professional opinion of the rating agency.

Is rating a one-time exercise?
No. To protect the interest of investors, SEBI has made it mandatory that every credit rating agency shall, during the lifetime of the securities rated by it, continuously monitor the rating of such securities and carry out periodic reviews of all published ratings. chartered accountant in delhi

What does credit rating convey?
Credit rating is an assessment of the probability of default on payment of interest and principal on a debt instrument. It is not a recommendation to buy, sell or hold a debt instrument. Rating only provides an additional input to the investor and the investor is required to make his own independent and objective analysis before arriving at an investment decision.

How is credit rating done?
Ratings are based on an evaluation of the strengths and weaknesses of the company fundamentals including financials along with an in-depth study of the industry as well as macro-economic, regulatory and political environment.

What are the common factors that are taken into account while awarding the credit rating?
Each credit rating agency may have its own set of criteria for each component for assigning the ratings. Some of the common factors that may be taken into consideration for credit
Ratings are Issue Company's operational efficiency, level of technological development, financials, competence and effectiveness of management, past record of debt servicing, etc.

What are the measures taken by SEBI in strengthening credit rating?
SEBI has, from time to time, taken several steps to strength the process of credit rating. SEBI directives require the credit rating agencies to be transparent and disclose to the public the information which may have a material bearing on the ratings, any sources of conflicts of interest while undertaking the rating exercise, rating methodology, rationale of the ratings,

Which is the rating agencies registered with SEBI?
1. Credit Analysis & Research Ltd.(CARE)
2. ICRA Ltd.
3. CRISIL Ltd.
4. Fitch Ratings India Pvt.Ltd.
5. Brickwork Ratings India Pvt.Ltd.

Why do ratings change?
Rating is an opinion based on information available at a point in time with the rating agency and expectations made on the basis of such information by the agency. However, information can change significantly over time causing the rated instruments performance to deviate from the earlier expectations thereby affecting the future repayment abilities and thus, requiring the rating to be altered.

What kind of responsibility or accountability will attach to a rating agency if an investor, who makes his investment decision on the basis of its rating, incurs a loss on the investment?
A credit rating is a professional opinion given after studying all available information at a particular point of time. Nevertheless, such opinions may prove wrong in the context of subsequent events. There is no contract between an investor and a rating agency and the investor is free to accept or reject the opinion of the agency.

How can an investor know if a credit rating agency has cha1nged its rating?
The credit rating agencies are required to continuously monitor the ratings assigned by them to a particular instrument. In case of any changes in the ratings so assigned, the agencies are required to disclose the same through press releases and on their respective websites.

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HOW TO DEVELOP COMMUNICATION SKILLS

Human beings communicate through three ways
•    Speaking
•    Listening.
•    Writing,

We shall deal with each one aspect of communication separately. Let’s start with speaking skills, Successful communication is an exchange, two people sharing insights on the same topic. Their insights might be diametrically opposed, but each expresses an opinion and listens to the response.

Many times the conversation instead of being a dialogue becomes a monologue. Only one person does all the talking and the other listens. This leads to breakdown in conversations. Good conversation like good tennis needs volleying from both sides.

So remember when you converse allow the other person to air his / her opinion. Try to understand his view if possible even if it is totally against your opinion.

Whether speaking to an audience of hundreds or of one, strengthen your speaking- and your image with a short silent pause.  We often clutter our speech with verbal crutches-“like”, “Uhh” “Err” “Well” . We lean on these crutches to fill the silence when thinking of the next idea or word. The silence is better.

If you use these crutches break the habit by pausing. Make no sound. You will be surprised to see how quickly the next word pops up. And you will find the silence is hardly noticeable. More information: New company registration India

HOW TO MAKE AN EFFECTIVE ORAL PRESENTATION.

While hard work and good ideas are essential to success, your ability to express those ideas and get others to join you is just as important. Much of this is on one or in small groups but periodically you will be involved in more formal and public speaking in front of larger numbers. If this thought makes you nervous you are not alone. Many speakers lack the skills and confidence to make effective presentations. The fear of public speaking is the second largest fear in the world. Tips to improve your presentation:-

1)    Formulate a strategy for the specific audience:- Be clear about the purpose of your communication. Knowing the audience will be a critical determinant in what information is presented. Be concrete, specific, practical and relevant. Clarify your objectives-Is it to motivate?.. Inform?… persuade?…. Teach? Each calls for a different approach.

2)    Write the presentation in rough, never read from a script. You should know most of what you want to say, if you don’t then you should not be giving the talk Prepare cue cards which have key phrases and words, Don’t forget to number the cards in case you drop them.

3)    Greet the audience and tell them who you are. Then follow this formula:-
•    Tell the audience what you are going to tell them.
•    Then tell them
•    At the end tell them what you have told them.

4)    Keep the time allowed.

5)    Use your hands to emphasize points but don’t indulge in too much hand waving. Move around. But don’t block the projector.

6)     Look at your audience and try to make eye contact with each person. Eye contact helps to move your presentation from “speech” to “conversation” involving everyone in the audience. Don’t lock your gaze with one person. That may be intimidating.

7)    Avoid too much information on the slides. Just display the points then elaborate them.
Some presenters fill slides with so much detail that the audience just reads the slides ignoring the presenters. By keeping the slides lean, you convey the essentials with greater emphasis and you force the audience to turn to you for detail. Use color on slides but avoid orange and yellow which do not show well when projected.

8)    Speakers, who pound the podium, jingle change in their pockets or do other things focus attention on themselves rather than the subject.

9)    Speak clearly. Don’t shout or whisper.

10)    Room Lightning should be considered. Too much light near the screen will make it difficult to see the detail. On the other hand a completely darkened room can send the audience to sleep.

11)     Use numbers to help the audience follow and grasp your information. For example: - I have two major objectives for today’s meeting.

12)    Don’t worry if you are not grammatically sound. It is more important to remain cool and try to convey your ideas. Of course it is advisable to improve your language as it does have an impact on the audience. However your presentation will be better if you stop worrying about the audiences’ reaction to lack of grammatical correctness.


13)     Stage Fright:- Following are some techniques to cope with this fright:-

•    Your audience understands your nervousness; they will forgive any honest mistakes.
•    Chat with members of the audience before the presentation. You will not find them that threatening.
•    Practice deep breathing exercises before taking the podium.
•    Rehearse your presentation a few times.

14)    Use language that can move people. Churchill might never had made such a strong impact on the world had he written” Essentially my contribution includes sanguinary composition, diligence effort and commitment”. Fortunately he spoke in language that could move people “I have nothing to offer but blood, toil, sweat and tears”.

15)    Get your audience involved. Ask them questions. Give various anecdotes to liven up your presentation.

16)    The only way to be a good presenter is through practice. You can form small groups with friends to practice.

SMALL TALK:-

You are in the elevator and the Managing Director enters. As the elevator ascends the silence builds. You search desperately for something to say. What do you say? You think what the MD will think if you say nothing.

Casual meetings may not advance or derail your career, but they do add to the impression people form of you. In such situations sparkling conversation is not expected but small talk is.

So what do you talk about-?
•    Don’t try to be brilliant- Most people don’t expect it in casual meetings.
•    Turn the spotlight on the other person- Ask about the other person’s family, vacation plans etc.” What do you think of the weather” is not exactly original but can work as an ice breaker.
•    Compliment carefully. Give sincere praise. False flattery can back fire.
•    Use friendly body language- Smile, make eye contact and don’t fold you arms. Many times the other person may be just as uncomfortable as you are. So any small talk will be welcome.

HOW TO COMPLAIN IN THE RIGHT MANNER:-

•    Be straightforward- State the problem and not how much you are frustrated.
•    Offer a solution- Explain what you would like done to resolve the problem rather than leaving it up to the other person. For example “ If it would be easier to send a duplicate invoice since the original seems missing” Don’t say- “ “You have lost the original invoice. ….” Many people don’t understand when to stop complaining. Even if the other person is wrong offer a solution to get out of the . The offender will also be happy that you didn’t make a issue out of his mistake.
•    Stay Calm- Raising your voice and blood pressure won’t be of much help to you or have a positive effect on a lackadaisical performer. This is because when you finish getting mad and stomping around you will still have to deal with the person who would then be even less likely to help solve the problem.
•    Try a smile- Research suggests that people who walk around (or talk) with a smile have a much higher success rate at getting what they want.

DEALING WITH SENSITIVE ISSUES:-
Candor and directness are admirable qualities but sometimes tact works more effectively.  If the issue is sensitive and can lead to confrontation tread a bit carefully. Use the following three diplomatic techniques especially if the issue is raised at your workplace:-

1.    Lower your voice and control your tone-
Its true hostility can be conveyed in a whisper but that’s less likely if you control/ soften your tone of voice.

2.    Cushion the impact of criticism with expressions like “maybe” and “we might consider”- Such expressions can prompt an open response. For example-
“Maybe we can approach it another way” sounds much better.

3.    Use the passive voice to focus on the issue not the individual-
Instead of: - You designed the concept to….
Try: - The concept seems designed to…
The words you choose and the way you deliver them can turn confrontation into resolution.

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