Entrepreneurial education is crucial for success strategies in India, and one of the core objectives for entrepreneurs is profit maximization. Sangeetha Sumesh, a Chartered Accountant and Management Accountant, has outlined five simple steps to achieve this goal: revenue generation, cost reduction, financial discipline, adherence to compliances, and best practices in the industry.
To generate revenue, good research practices must be employed. Cost reduction and control are also important, with necessary and luxury costs clearly identified and defined. Best industrial practices should be followed, and internal controls implemented to assure compliance. Budgets should be prepared and reviewed regularly, and expert financial analysts should be available to measure actual performance. These steps must be followed to leave no stone unturned in pursuit of profit maximization.
In her videos, Sangeeta explains these concepts using an acronym for entrepreneurs as part of the wealth series. She is also an author, start-up advisor, professional speaker, and high-performance coach. Her finance books, “What the Finance” and “A Glance at the Unknown,” have been well received. Sangeeta has been recognized as “India’s most influential women in finance” and encourages entrepreneurs through her workshops and coaching sessions.