{"id":2611,"date":"2015-10-02T11:00:50","date_gmt":"2015-10-02T05:30:50","guid":{"rendered":"http:\/\/gtm360.com\/blog\/?p=2611"},"modified":"2021-11-16T15:36:09","modified_gmt":"2021-11-16T10:06:09","slug":"how-online-banking-prepares-you-to-become-an-entrepreneur","status":"publish","type":"post","link":"https:\/\/gtm360.com\/blog\/2015\/10\/02\/how-online-banking-prepares-you-to-become-an-entrepreneur\/","title":{"rendered":"How Online Banking Prepares You To Become An Entrepreneur"},"content":{"rendered":"<p>As startup mentors will tell you, a successful entrepreneur needs to:<\/p>\n<ol>\n<li>Take risks<\/li>\n<li>Thrive on ambiguity<\/li>\n<li>Move fast but be patient<\/li>\n<\/ol>\n<p>Online banking is a great way to develop these skills. Here&#8217;s how:<\/p>\n<p><strong>#1. Take risks<\/strong><\/p>\n<p>Online banking portals mince no words when they tell you that you&#8217;re on your own while making an electronic fund transfer. Their warnings include:<\/p>\n<ul>\n<li>Credit will be effected based solely on the beneficiary account number information; beneficiary name particulars will be ignored.<\/li>\n<li>Ensure that the beneficiary account number you enter is correct. We will not validate it.<\/li>\n<li>We are not responsible for funds transferred to an unintended recipient.<\/li>\n<\/ul>\n<p>If you still proceed, you&#8217;re a pro at taking risk.<\/p>\n<figure id=\"attachment_2615\" aria-describedby=\"caption-attachment-2615\" style=\"width: 146px\" class=\"wp-caption alignright\"><a href=\"https:\/\/gtm360.com\/blog\/wp-content\/uploads\/2015\/08\/SBI-NETBANKING-BANK-LIST.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-2615 size-medium\" src=\"https:\/\/gtm360.com\/blog\/wp-content\/uploads\/2015\/08\/SBI-NETBANKING-BANK-LIST-156x200.jpg\" alt=\"\" width=\"156\" height=\"200\" srcset=\"https:\/\/gtm360.com\/blog\/wp-content\/uploads\/2015\/08\/SBI-NETBANKING-BANK-LIST-156x200.jpg 156w, https:\/\/gtm360.com\/blog\/wp-content\/uploads\/2015\/08\/SBI-NETBANKING-BANK-LIST.jpg 218w\" sizes=\"auto, (max-width: 156px) 100vw, 156px\" \/><\/a><figcaption id=\"caption-attachment-2615\" class=\"wp-caption-text\">Will the right IDBI BANK please stand up?<\/figcaption><\/figure>\n<p><strong>#2. Thrive on ambiguity<\/strong><\/p>\n<p>Online Banking presents a rich treasure trove of ambiguity e.g.<\/p>\n<ul>\n<li>Should you enter the leading zeros in the account number or skip them while setting up a new payee?<\/li>\n<li>How many number 0s or letter Os or both does the payee bank&#8217;s IFSC code have (for the uninitiated, IFSC code is the Indian equivalent of Bank Sort Code)?<\/li>\n<li>Which is the right IDBI BANK out of the four banks masquerading by that name (or the right HDFC BANK out of the three&#8230;)?<\/li>\n<\/ul>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"ro\" dir=\"ltr\">I wish PAN, IFSC # avoided confusion b\/w O &amp; 0, I &amp; 1 by adopting DEC alphabet &#8211; \u00e0 la Airline Seat &amp; Vehicle ID #.<\/p>\n<p>&mdash; GTM360 (@GTM360) <a href=\"https:\/\/twitter.com\/GTM360\/status\/597710475930050561?ref_src=twsrc%5Etfw\">May 11, 2015<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>After all this, if you&#8217;ve successfully set up a payee account, you&#8217;ve crushed ambiguity.<\/p>\n<p><strong>#3. Move fast but be patient<\/strong><\/p>\n<p>You want to make a payment quickly. You don&#8217;t want to wait for the 1-2 days it takes for a cheque to clear, so you head over to your bank&#8217;s online banking portal. Assuming that you&#8217;ve mastered skill #2, you&#8217;ll be able to add a new beneficiary within a few minutes. (If you&#8217;ve not mastered #2, cheque would be faster). You&#8217;d then be told to wait for &#8220;cooling period&#8221; to get over before initiating a payment. Depending on the bank, this wait time could be as long as 24 hours. If you thought &#8220;make haste slowly&#8221; was an oxymoron, this experience will not only change your mind but also make you a rockstar at this skill.<\/p>\n<hr style=\"width: 70%;\" \/>\n<p>I don&#8217;t claim to be a great entrepreneur but, for the few entrepreneurial skills I do have, I&#8217;ve my online banking to thank.<\/p>\n<p><a href=\"http:\/\/gtm360.com\/blog\/wp-content\/uploads\/2015\/08\/obe-fi.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2621 size-full\" src=\"https:\/\/gtm360.com\/blog\/wp-content\/uploads\/2015\/08\/obe-fi.jpg\" alt=\"obe-fi\" width=\"630\" height=\"280\" srcset=\"https:\/\/gtm360.com\/blog\/wp-content\/uploads\/2015\/08\/obe-fi.jpg 630w, https:\/\/gtm360.com\/blog\/wp-content\/uploads\/2015\/08\/obe-fi-200x89.jpg 200w\" sizes=\"auto, (max-width: 630px) 100vw, 630px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As startup mentors will tell you, a successful entrepreneur needs to: Take risks Thrive on ambiguity Move fast but be patient Online banking is a great way to develop these skills. Here&#8217;s how: #1. Take risks Online banking portals mince no words when they tell you that you&#8217;re on your own while making an electronic &#8230; <a title=\"How Online Banking Prepares You To Become An Entrepreneur\" class=\"read-more\" href=\"https:\/\/gtm360.com\/blog\/2015\/10\/02\/how-online-banking-prepares-you-to-become-an-entrepreneur\/\" aria-label=\"Read more about How Online Banking Prepares You To Become An Entrepreneur\">Read more<\/a><\/p>\n","protected":false},"author":4,"featured_media":2621,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,1],"tags":[],"class_list":["post-2611","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bfsi","category-mandatory-category"],"_links":{"self":[{"href":"https:\/\/gtm360.com\/blog\/wp-json\/wp\/v2\/posts\/2611","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gtm360.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gtm360.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gtm360.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/gtm360.com\/blog\/wp-json\/wp\/v2\/comments?post=2611"}],"version-history":[{"count":16,"href":"https:\/\/gtm360.com\/blog\/wp-json\/wp\/v2\/posts\/2611\/revisions"}],"predecessor-version":[{"id":2679,"href":"https:\/\/gtm360.com\/blog\/wp-json\/wp\/v2\/posts\/2611\/revisions\/2679"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gtm360.com\/blog\/wp-json\/wp\/v2\/media\/2621"}],"wp:attachment":[{"href":"https:\/\/gtm360.com\/blog\/wp-json\/wp\/v2\/media?parent=2611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gtm360.com\/blog\/wp-json\/wp\/v2\/categories?post=2611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gtm360.com\/blog\/wp-json\/wp\/v2\/tags?post=2611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}