Forum: Lady Entrepreneurs Wing (LEW) Forum
Speaker: Ms Shivani Dani Wakhare & Ms Vanadana S Sharma
We must learn ‘Language of Money’ to be successful in Business
VIA Lady Entrepreneurs Wing organised a talk by Shivani Dani Wakhare on the topic ‘Cash is not Profit. Be own architect of your Balance Sheet’ under the able leadership of Reeta Lanjewar, Chairperson, VIA LEW.
Shivani Dani Wakhare is a Famous Budget Analyst and also President of Bhartiya Janta Yuva Morcha, Nagpur.
Under ‘Words of Wisdom’ initiative by LEW – Ms Vandana Sharma, Past Chairperson – VIA LEW, talked on the topic ‘Awareness on social media and online shopping’. She told about the precautions to be taken while shopping online. She stressed on reading reviews about the website or the seller before buying anything from him. She suggested not to fall prey to flashy discount sales as we often end up buying things of poor quality or wrong product.
Shivani Dani Wakhare, who is an expert on the topics like Financial Planning, Debt Markets, Derivatives, Budget, Balance sheets etc explained the Balance sheets as a tool to analyse your Business. She said Managing Balance sheets is more like an Art than Science. We must know our Balance sheet well to know if we are going in the right direction or not.
She explained the otherwise complicated terms for common people like EBIT DA, RoNW, GDP etc in very simple to understand way. She said Debt to Net worth ratio is always very important.
She said if we are taking business loan, one must see where the loan is utilized. The loan should be utilized in a way that it must generate revenue for us.
She also insisted on studying government policies related to our business. We also must pay attention to – where do we utilize the Profit, Channelize the cash, how do we do asset allocation etc. She said learning the language of Money is very important. For that we must daily read newspaper related to economics. Firstly we won’t understand anything, but then gradually we will be able to learn the meaning of the words related to economics, money and gradually we learn the language of Money. She insisted on understanding your business balance sheet and not just be dependent on the CA for that.
At the outset, Reeta Lanjewar, Chairperson, VIA LEW gave the opening remarks. Sarla Kamdar, Founder Chairperson of VIA LEW welcomed Shivani Dani Wakhare with floral compliments. Reeta Lanjewar presented memento, Vandana Sharma was given floral welcome by Chitra Parate. Program was conducted by Poonam Lala, Vice Chairperson,VIA LEW. Manisha Bawankar, Secretary, VIA LEW proposed vote of thanks. Prominently present were VIA LEW Executive members namely Shachi Mallick, Rashmi Kulkarni, Mitali Rafique, Minal Khedkar and Yogita Deshmukh. The Program was attended by large number of member entrepreneurs.
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