Remember, remember the Eight of November….
Blog by Aishwarya Meenakshi
Riding on the echoes of the demonetization wave, the theme for our December edition was a no-brainer. Joining us on December 10 on our very own edition of Law and Order were:
We also had product demos by:
The session began with a product demo by Jaybhaghat from Startupchoice.com.
They provide a one-stop solution for regulatory compliance, accounting and legal needs of a startup. He provided details of their partnerships with leading Chartered Accountants, advocates and solicitors as some of their strongest points.
Their product portfolio covers the initial stage, management and protection of business ideas. His session was very well received by the audience.
Jaybhagat from Startupchoice.com explaining his product model.
Mitesh then took the stage. He sought to dispel the mysticism behind accounting – describing it simply as ‘A Counting’. He mentioned and reinforced 5 key accounting practices for a startup as follows:
- Maintain list of Invoices – Revenue is the key
- Maintain Cashbook – Cash is king
- Maintain a bankbook & do a daily reconciliation – Control adds up to credibility
- Maintain an expense file – Get your budgets right
- Maintain an Asset Register – Know what all you have
He further went on to explain taxation in a nutshell, with detailed and rather funny examples.
He took one giant leap ahead and recorded the entire session for our benefit – available here. I highly recommend watching his explanation of the 5 accounting practices. [starts here]
Mitesh Katira giving his session on accounting.
After a short networking session/break for food (and coffee. Yo.) Abhinay took the stage.
His session focussed on the legal side of things, highlighting the various potential hurdles and their effects. (The threat of a showcase notice is The Real Deal. O_0)
He spoke of being aware of regulations geographically. Once a service and idea have been decided, regulations must be researched thoroughly to generate local awareness so as to save time and energy. His session was peppered with examples to emphasize the importance of prior research.
Abhinay Singh on legal compliance
Dhiraj Bajaj then gave his product demo on CSN-15H i.e. corporate social networking.
His initiative aims to convert 15 hours a month of networking into a commercial stream of revenue. He gave a fascinating presentation on cash flow and the general steps from income to cash flow – and proposed a new process that converted expenses into positive cash flow.
It certainly captured the attention of the audience and made us think on the nature of money and the traditional sense of generating positive cash flows.
Dhiraj Bajaj presenting the concept of CSN 15H
We then bid adieu after a final networking session (and More Coffee. #addict) and felicitated our speakers.
Mitesh being felicitated by Bikash from Headstart
Abhinay being felicitated by Aishwarya (yours truly) from Headstart
Dhiraj being felicitated by Smedha from Headstart
P.S. : I referred to the December edition as our very own Law & Order episode. Who was the broadway guest star, you ask? T’was I.