 I am Satish Pariani, working as assistant professor in Department of Mechanical, Vulture Institute of Technology, Sholabu. Now we are discussing the problems faced by entrepreneurs. At the end of this session, students will be able to understand the problems and their solutions, what the entrepreneurs face. The contents. Here majorly we will discuss on the task delegation, choosing what to sell and the marketing strategy problems associated with entrepreneurs and their solutions. Entrepreneurs face major challenges in today's ultra-competitive business world, fortunately, contemporary times have also blessed entrepreneurs with more resources for tackling those problems than ever before. The problems can be from technical world, marketing world, human world or financial world. Now we are discussing the fourth problem that is called task delegation. The challenge the entrepreneur face, you know, you need to delegate or outsource task, but it seems every time you do something gets messed up and you have to redo it anyway. As an entrepreneur, as a new startup, generally these are the problems, when there is a new startup, when the new startup or new organization which has been evolving, task delegation is the biggest problem. Whether I should do all in considering manufacturing activities, considering manufacturing, if I am doing in the manufacturing world, whether all I should do in house under one roof or whether I go for outsourcing, certain tasks which I need to delegate to my suppliers or to some other outsourcing agencies, whether HR training should I take it or whether I should go for outsourcing. Whether I need to check the bills, each and every small bills which marketing people have spent it or whether I give it to account department. We need to think on these kind of examples. Generally if we do these kind of day to day work, our organization cannot grow to that extent. We need to set up certain processes. We need to set up certain organization, people who will be getting done this kind of work and we need to concentrate only on the basic strategic thinking to grow our organization. Big decisions we need to go. But once we are engaged in small, small things, our minds are shifting in that we get messed up and we are with so many to do list. Now think it, the problem of time management to certain extent, whether it can be solved with task delegation, think the answer to this is yes. Once we start delegating our task, our time management issues will also getting resolved. Reason being that we are into now not day to day activities, we are into some strategic activities. We are not in day to day operations. We are into certain big operation, big thinking to certain time management issues can be solved. Now solution of task delegation, find good employees and good outsource contract help. As I told you, general training is required. As an employee, I need certain training to get my skills groom up. If I get the same training in house, also one time, two times, three times, I start feeling bored, boredom. So these tasks, this work contract should be done from outsource agencies. Many times the good employees are also available, which can provide a good training. But yes, you need to make a feel that yes, we are getting trained. You might have to pay a little more for it, but it's saving time and resulting earning potential more than makeup for it. Once employee morale is boosted, it helps not only to improve its productivity, but its productivity of organization also. He starts thinking in some different way and that extra cost for training, let us say, outsource training what we have done can help a lot to get more big profits and make up for the small training costs associated. This is example of outsource training for HR employees. The same task delegation, once we start in house, suppose I have taken in previous slide the example of suppose we start looking at small, small bills of marketing people. So much time is wasted to cross check everything. Suppose this I give to my financial department, whom I trust to find a good employee to give him that work. What will happen? I will save time. My role will be only to signing and finalizing, yes, whether to pass that bill or not. Suppose for that one extra employee also I need to keep it up. So much time I will get it, that employee is helping me to get so much time for which I have that time I will utilize for taking some static decisions for the benefit of organization and that is far, far more I can say comparatively by keeping one employee. So these are few examples from both ways. For in manufacturing organization, a financial bill, outsource, HR, outsource same in day to day we need to take certain action and we need to delegate the task. This is the biggest problem which these days are faced by generally startup employees. The old big employers already know the importance of this and they start delegating but many times also whether to do it or not do it they are into this. So these are the problems and probably this is a solution, a simple solutions which will help us to take a better decisions and take a better profits. The next big ultra specific is what you want to, what you want done. It will take a little more time at first but write down the detail step listing exactly what you want your help to do. Don't make assumptions and don't assume your help will be able to think of themselves. Now after discussing the star solution the next problem for the entrepreneurs what to sell. The challenge is you know you can make a mint if you just knew what products and services to sell. You have the financial aid, you have the financial support but what you want to sell it. You are just unaware how to pick a niche whether you want to sell a product which is selling at a high profit but a low volume or whether you want to make a product which is selling at a low profit but higher volume. You need to make a decision on what you want to sell and how you are building your organization in that way. It is decision of a volume game and generally low profit high volume are the companies which are generally quite ahead. We need because you cannot find a product in the market unless you have a you can sell it unless there is some specialty some niche kind of thing in it whether then you have to be innovative in your product completely new product and which takes a lot of time and which also takes a lot of time market to pick up even your product is good but yes how to do so. I will tell you one example, gold and high technology was developed by LG Electronics. It was developed by certain other organization also. So who sold it? It was LG Electronics who made a great profits. What to sell? We are selling certain product or we are selling certain feature also is does matter. The solution is admit that you are weak in the added five prospector niches and delegate the task to someone who is strong in this area. You do not have to hire a huge expensive marketing firm rather recruit a freelancer which has experience in whatever type of field you are considering entering retail e-commerce service industry publishing have conduct market research and create a report with suggested niches and potential profit margins and completes what analysis the strength, weaknesses and operation threats everything are displayed. We need to be very clear in this. The next is marketing strategy. The challenge is you do not know the best way to market your products and services print online mobile advertising access you want to maximize the return on investment with efficient targeting marketing that gets resulted and the solution is the solution again if you are not adept at creating marketing plans and placing ads it is good idea to outsource your marketing strategy to someone who is at this point all you need to is core marketing plan what marketing activities will undertake to motivate purchases give your planner a budget and tell them a craft a plan that officially utilize their budget to product produce profits again whether you will do for paper marketing newspaper marketing we can say or whether you can afford for radios you go for amazons or some e-retailers or some TV ads be very clear which target customers you are utilizing the references which are again use are from NPTEL 10 challenges faced by entrepreneurs by deluxe.com and the book utilizes project management and control by Narendra Singh Himalaya Publication House thank you.