Author: Editor's Desk

Categories
Strategy

What is the BHAG (Big Hairy Audacious Goal) Goals Framework in Business?

BHAG Big Hairy Audacious Goal
BHAG Full form is Big Hairy Audacious Goal.

The Big Hairy Audacious Goal (BHAG) framework is a long-term goal-setting framework introduced in the book “Built To Last Successful Habits of Visionary Companies” by Collins and Porras. This framework aims to create ambitious, inspiring, and challenging goals that can drive a company’s growth and success for 12-15 years.

BHAG goals are categorized into four different types, including target-oriented BHAG, competitive-oriented BHAG, role model BHAG, and internal transformation BHAG.

In this article, we will understand the categories of BHAG Goals in Business:

Categories of BHAG Goals:

 

  • Target Oriented BHAG:
    In this category, the goal is to achieve predetermined targets such as reaching a $1 billion valuation of a company in 5 years and becoming a unicorn company. It varies from organization to organization. Achieving a specific goal within a certain timeframe ensures better time management and good results. For example, ‘Microsoft’ target was to ‘A computer on every desk and in every home,’ and ‘Walmart aimed to reach $125 billion in sales by 2000.
  • Competitive Oriented BHAG:
    This category involves overtaking top competitors, where the organization faces competition with larger organizations. For example, in 1960, Nike’s original goal was to surpass Adidas, and NASA’s goal in 1970 was to reach the moon, competing with the USSR. Notably, individuals like Sir Richard Branson, Jeff Bezos, and Elon Musk competed to become space astronauts. Sir Richard Branson reached space before Jeff Bezos on July 11, but Jeff Bezos, being competitive-oriented, broke the Guinness world record in 2021.
  • Role Model BHAG:
    In this category, the goal is to become a role model. For example, Harvard University is much older than Stanford University, however, both universities hold the same position in the market.
  • Internal Transformation BHAG:
    To remain competitive, internal transformation is crucial for businesses. It creates positive change in the business model. For example, Netflix transitioned from DVD mailing to an OTT platform. Another example is Google, which underwent a small transformation to become the top browser in the world.

Internal transformation should be:

  • C- Compelling and Exciting
  • A- Action-oriented
  • D- Decade (minimum 10 years plan)
  • I- Innovative

In conclusion, the BHAG framework is an effective tool for businesses to set and achieve long-term goals that drive growth and success. By categorizing BHAG goals into different types, companies can tailor their approach to goal-setting based on their specific needs and objectives. Whether it’s achieving a specific target, outpacing competitors, becoming a role model in the industry, or transforming their internal operations, the BHAG framework can help businesses achieve their goals in a compelling, exciting, and innovative way.

lfp event by vivek bindra and bada business

Categories
Startup

10 Ways to Raise Funds for Startups in India

10 Ways to Raise Funds for Startups in India
10 Ways to Raise Funds for Startups in India

Money is the bloodline of business and funds are like the vein. However, lack of funds is one of the common reasons for the downfall of any business. This long meticulous yet thrilling journey from the idea to revenue-generating business needs a fuel named “Capital”. Therefore, at every stage of the business cycle, entrepreneurs ask one major question- “How to Finance business” However, the answer remains the same, where to find it?

In this blog, we will share 10 ways to raise funds for startups in India.

Ways to Raise Funds for Startups in India:

 

  1. Bootstrapping:
    Bootstrapping, also known as “Self-funding” is considered to be one of the risk-free ways to kickstart any business. The initial problem for any business is arranging funds while some arrange it from their savings or take it from daily. This step will grant complete control to the founders and could limit the growth of the business.
  2. Crowdfunding:
    Crowdfunding is one of the easiest and newest methods to collect funds from multiple investors through social media sites or web-based platforms. These funds are raised for various purposes like social causes, charities, ideas, disaster relief, events and more. This idea of raising funds for business promotes social and cultural causes.
  3. Business Incubator:
    Business Incubators are the early-stage option for raising funds for business. They are like the parents of the business that nurture it by providing shelter tools, training and networking businesses. Helping to assist nurtures a business to walk, this program normally runs for 4-8 hours and requires a time commitment for business owners.
  4. Venture Capitalists:
    VCs (Venture Capitalists) play a pivotal role in an organization’s ecosystem. They fund early-stage companies with high growth potential and better success. Drawn to make clear and ambitious long-term goals, resilient business model, demonstrating a robust and making strong and competent team, VCS invested in startups expects to secure high returns in future.
    Note: VCs avoid investing in a startup’s initial or later stages when the competition is igh in business.
  5. Peer-to-Peer Lending:
    Peer-to-peer lending is a form of money borrowing with no intermediate involved in the process. In this, the lenders lend money to borrowers for their investment purposes and borrowers get money at their disposal to invest in the business. This way, the lenders earn from the borrowers because the interest rate is higher as compared to banks, NBFCS and MFIs.
    This lending is regulated by RBI to avoid miscommunication between borrowers and lenders.
  6. Strategic partnerships:
    Partnerships with the companies can benefits to infuse funds and resources for startups. They open up the door to new markets and technologies, however, aligning a goal and maintaining a balance between partners can be challenging and also require careful negotiation.
  7. Credit Cards:
    Credit cards are the easiest source of raising funds in business. Easily available after completing few steps, this card can be a course of quick money. However, interest rates and costs on the cards increase quickly and carrying that debt can be detrimental to a business owner’s credit.
  8. Angel Investor:
    Angel investors are individuals who have surplus cash and are interested in investing in new start-ups in India & worldwide. However, the risk involved in this is more as compared to loans offered by financial institutions. These investors invest higher returns for profit.
  9. Business Loan (Private/Public Sector):
    Banks are considered to be the source of raising funds for start-up enterprises with reliability and better conveniences of getting good amounts. They provide funds to the business in two forms, loan and working capital loan. The majority of the banks offer loans to both public and private sectors, however, they vary in interest rates, loan payment, repayment tenure and more.
  10. Government Loan Schemes:
    The government launches various schemes to help start-ups, SMEs, and MSMEs as well as promote the socio-economic growth of rural India, women entrepreneurs, educated youth, individuals from SC/ST category and more. The initiative by the Goverment of India to help start-up enterprises includes the MUDRA Loan Scheme under Pradhan Mantri Mudra Yojana, Start-up India, PSB Loans in 59 minutes, Credit Guara Fund Trust for Micro and Small Enterprises (CGTMSE), Atal Innovation Mission, Make in India, etc.

 

Categories
News

Changing the E-commerce landscape via digitalization in FMCG

Changing the E-commerce landscape via digitalization in FMCG
Changing the E-commerce landscape via digitalization in FMCG.

India is the fourth-largest sector in Fast Moving Consumer Goods (FMCG). With the need for access to affordable services in today’s dynamic world, innovation proves to be a turning point for growth. However, Digital transformation turns out to be a game changer to align the requirements of both suppliers and consumers. 

Digitalization paves the way for a dramatic change in the process of running of FMCG company. Although many people link digital transformation with software to manage production, it not only affects the FMCG industry but also incorporates managing systems, efficient data collections, retailers’ profits, and consumer experience. 

Digital Conversion: Better Globalization and Reach

The better use of digitalization has made FMCG products reach beyond geographical boundaries. As per the reports of the Department of Applied Economics, University of Lucknow, the FMCG sector will grow by 13-14% over the next five to ten years, expected to reach a value of $220-240 billion by 2025 only through digitization.

Moreover, the rise of the E-commerce industry has broken down the chain of physical appearance of the seller and the consumer. This contributes to pulling more customers worldwide with good profit and earnings.

Ease Down The User-Friendly Interface With Better Customer Engagement

Digitalization has proven to be one of the pivotal factors for the success of consumers. With the new technological innovations of AI, the gathering, and analysis of data on consumer behavior, history, market trends, customer customer-friendly interfaces have made it easy to set the demands of consumers. This user-friendly interface aids with the necessary changes such as approaches to campaigns, customer engagements and services. Similarly, the appearance of E-commerce services has made the comparison of products available in the market along with the prices and the friendly interface acts as cheery on the cake for better customer engagement.

No Barrier or Middleman means No Chain!

The E-commerce platform has developed with an innovation of the B2C model that indicates a direct connection between the company and the customers. This eradicates all the middlemen and retailers. Similarly, digitization acts as a supportive bridge for FMCG to directly coordinate with customers to collect relevant data and reviews.

This creates a safe sphere for the brands to control their product services, consignment money, and command over their brand reputation which often gets deferred by the middleman. 

An AI Intervention in the Digitalization of Data

As per the reports of Statista.com, 33% of consumers prefer express delivery options, however, AI has changed the traditional shopping experience of customers by quickly and accurately analyzing data and revolutionizing the online purchase of products. FMCG has easily produced a personalized experience model for consumers. 

AI in online shopping not only serve the best customer experience but also helps in making important decisions by predicting future trends and market needs. The data systems can also look through lots of data to find patterns and understand what customers do. 

Enhance Inventory: Organized Data and Less Management

Technology is the way to open a business efficiently, especially in the FMCG industry, it has been useful in every sector of the business such as the supply chain, stock management and more. Thus, using digital tools and technology will help the other parts of the business work better like keeping track of money and smoothen the places where things aren’t working smoothly.

Categories
Technology

Johnson & Johnson and Nvidia Join Hands to Develop New AI Applications for Surgery

New AI Applications for Surgery
Johnson & Johnson and Nvidia Join Hands to Develop New AI Applications for Surgery.

On 18 March, Johnson & Johnson announced their collaboration with Nvidia to integrate new AI devices and platforms for pre- operation to post- operation. These new-scale artificial intelligence devices help surgeons to have all the information under one roof, said Kimberly Powell, Nvidia’s vice president of health care. 

Many companies have been using AI to analyze surgical videos and are helping in the automation of time-consuming documentation after a procedure. However, combining artificial intelligence with machines will make the task easier. “Nvidia has been working in medical devices and imaging for more than a decade”, said Powell.

The MedTech unit at Johnson & Johnson creates tools and solutions for major conditions that are commonly spreading within people such as kidney failure, heart failure, and stroke. 

Their technology has been used in more than 75 million cases every year. Moreover, Shan Jegatheeswaran, Vice President & Global Head of Digital at Johnson & Johnson MedTech, said “One minute of surgical video is equivalent to 25CT scans. So, having computer power and infrastructure will help to annotate and share video widely to the surgeons.”

Powell further states in an interview, “There’s an ability to use all the sources of data inside an operating room, whether it’s your voice, or whether it’s the video coming from a camera inside the body, or elsewhere, to take advantage of the generative AI moment that we’re in.”

In the shorter term, de-identifying and enhancing the videos will help in the education and training of surgeons whereas in the longer term, analytics will be layered on top of video for real-time decision support.

The more accessible surgical video ensures less dependency of the residents on the insights and availability of more experienced physicians at their institution. Jegantheeswaran in continuation said, “Think about athletes. They look at game tape, and they get better over time as they look at themselves, That’s sort of the starting point. That’s the holy grail in the short term.”

Powell further states, “The collaboration is in the “early innings” and many applications are in the process for fine-tuning and safety implementation”, However, nondiagnostic cases such as automating paperwork will reduce the surgeon’s time and make a difference “right out of the gate.”

Powell concluded with, “I think all of us as patients should get excited about the fact that this kind of technology is going to be able to enter in and be within reach of all the clinicians and all the hardworking nurses and all the health-care staff, They’re going to have the very best tools and information at their disposal.”

Bounce back delhi by vivek bindra

Categories
Strategy

How to Write a Business Plan in 2024?

Business Plan
How to write a Business Plan in 2024.

India has emerged as the 3rd largest ecosystem of startups globally across 763 districts of the country by 2023. However, taking business to the heights of the mountains required a roadmap, formally known as a Business Plan.

As per the report of the New England Journal of Entrepreneurship, 2021, the act of creating & writing a business plan is correlated with measures of growth and success. Therefore, a Business plan embraces the power of strategic planning and leads to the prosperity of any venture.

In this article, we will look into the process of writing an effective business plan and why it is required for the growth of a business.

What is a Business Plan?

A business plan is a pivotal document in the business that provides immense value for new and existing companies of all sizes. It includes an outline of the business, its key objectives, and upcoming plans and goals. Covering concepts such as market analysis, financial projections, and organizational structure, this plan becomes a source of help for financial institutions and investors.

Similarly, by jotting down the information that can be used to communicate strategic actions to the internal team or attract interest from potential partners and investors, business plans come into play. However, creating a business plan can take time and effort, including lengthy and involved processes.

How to Write a Business Plan?

Drafting a Strong Executive Summary

The section of a business plan should start with an executive summary. It should include 1-2 pages in length that help the potential financiers or partners to get an overview of the business. The business overview should cover the company’s name, location, mission statement, and planned products & services. Although this is the initial part of the business plan, it can be formulated at the end while creating a business plan.

A Detailed Company Description

The detailed company description opens the doors for the readers who might also include potential investors or partners which will provide a clear understanding of the company. This also allows communication of the unique attributes of the business and its offering to meet the current market.

Create Financial Plans

The best way to seek investors and funding is to present financial plans and financial forecasting. It is knowing about the next five years’ plans and their usage of it. It should include forest income statements, balance sheets, cash flow statements, and capital expenditures.

List the Products & Services

The products and services should be well-defined for the investors. The purpose of this section is to design a compelling case for the offering and its needs to meet the target market. The list of products and services should include the following:

  • Competitive advantage and customer benefit.
  • Price Strategy
  • Development stage of the product and offering
  • Life-cycle of product
  • Intellectual property such as patents, trademarks, or copyrights.

Marketing and Sales Strategy

Marketing and sales are an integral part of any business. It helps in the growth and success of the business shortly. Once deciding the customer persona, working on reaching them is the second step. The customer hangout on social media apps such as Facebook, Instagram, Pinterest, Twitter, or LinkedIn helps in understanding the customer and in formulating the sales strategy. This strategy includes:

  • Target market needs and motivation of customers. 
  • Position of Brand
  • Distribution channels
  • Outsourcing needs for the products
  • Secured market partnership
  • Customer relationship management

SWOT Analysis

SWOT (Strengths, weaknesses, opportunities, and threats) analysis works on the overall analysis of the customer. Jotting down all the parameters gives investors and partners confidence that it won’t bury their heads in the sand. This should include: 

  • Reputation
  • Technology
  • Location 
  • Experiences of customers
  • Staff and suppliers

Understanding Competitors Analysis

Understanding the competitor’s upcoming projects and analysing them ensures staying in the market for the long run. It includes:

  • Cost leadership by offering lower prices than the competitors.
  • Differentiation in services and products from the current cost leaders. 
  • Segmentation helps focus on a specific or niche, target market and aims to build traction with a smaller audience before moving on to a broader market.

Making Customer Retention Strategy

The business’s success relies heavily on the relationship with the customers. While making a customer retention strategy, consider the following pointers:

  • Business capacity to increase the number of repeat customers. 
  • Working on referral or loyalty programs.
  • Understanding the follow-up of post-purchase in place
  • Conducting surveys to track customer satisfaction
  • Ways to find and deliver outstanding customer service.
  • Jot down the way to continue adding and educating value to the customers.

Making an Exit Strategy

Exit strategy helps the financial stakeholders to take a return on investment. For example, adding pointers in the business plan when to sell the company at some point or going public. Similarly, outlining the succession plan ensures the business operates well in the future. Documenting all the details ensures that everyone is on the same page and that potential investors have this information upfront.

For better results and growth of the business, jotting down the information, planning, and executing the business plan is crucial. This ensures that all information and resources are at your fingertips and doesn’t create any pressure for last-minute hassle. A well-thought-out business plan can avoid generic information and ensure better growth.

Categories
Motivational

Mohammad Ali Shihad: Cracked UPSC Exam While Staying In Orphanage

Success-story-of Muhammad Ali Shihab
Success story of Muhammad Ali Shihab

In India, Millions of students participate in the UPSC exam each year where only a few applicants get an opportunity to fulfill their dreams. However, clearing this gigantic exam is not everyone’s cup of tea. Achieving success in the UPSC Civil Services Exam is a formidable challenge. Often, candidates encounter disappointment even after multiple challenges.

In this article, we will discuss one such man who sets a perfect example of overcoming hardships and clearing India’s toughest exam. 

Failing twice in the Civil Services Examination, a resident of Kerala creates history by passing the third attempt and becoming an IPS officer. However, his journey since his childhood was not easy. He spent 10 years of his life in an orphanage, despite hardships, he has come up as an inspiring person for those who are afraid of failures in life and are unable to fulfil their dreams. 

Rise From The Shadow of Darkness.

Despite being raised in unfavourable circumstances, Shihab kept moving forward. Born on March 15, 1980, his parents were Korot Ali and Fatima. To obtain the bare minimum for their livelihood, he used to sell betel (paan) and bamboo with his father, however, this continued for a while. 

He lost his father due to an illness in 1991 at a very young age. He was the youngest among a sister & brother and eldest among two sisters. After his father’s demise, the responsibility of the family fell on his mother’s shoulders. Managing the four children becomes a challenge for her which leads to financial constraints. This resulted in her sending all her children to an orphanage at a very young age. Shihab spent 10 years of his life in an orphanage. 

Cleared UPSC Exam In Third Attempt

Shihab was the brightest child since childhood. Understanding the situation of his family, he decided to dedicate all his time to studying and working on enhancing his skills and knowledge in an orphanage. He also worked as a peon, a clerk, and a government school teacher. 

With numerous obstacles and failing in the first two attempts at the UPSC Civil Services Examination, he cleared the UPSC exam on his third attempt in 2011 with an All-India Rank (AIR) 226. 

Before IPS, Shihab worked as a Jail Warden 

Shihab lived his 10 years of life in an orphanage and the initial years were not easy. His higher education and expenses made him study well and made him attempt numerous government agency exams which resulted in clearing 21 exams of an agency in a row. 

In 2004, he also worked in the Forest Department, Jail Warden in the Central Jail, and Railway ticket examiner in the Railway Department.

You can read this story in Hindi on our Hindi news. – कैसे अनाथालय में रहने वाले शिहाब UPSC निकाल बने स्टूडेंट्स की प्रेरणा

Bounce back delhi by vivek bindra

Categories
Legal

What is Minutes of Meeting (MOM), its Importance & Purpose

MOM stands for Minutes of Meeting
MOM stands for “Minutes of Meeting.”

Conducting meetings and planning for strategies act as fuel for the company’s growth, however, remembering all the important pointers while having meetings is not humanly possible.

Therefore, Minutes of Meetings come in place to make the information readily available to the members.

What is Minutes of Meetings (MOM)?

Minutes of Meetings (MOM) is jotting down the important details such as specific decisions, things and goals which were discussed in the meeting. These pointers are later emailed to all the people who are present in the meeting for their better understanding and remembering of the major points that were discussed in the meeting. This helps in working on future decisions and is used in all government and non-government sectors.

The Purpose of Minutes of Meetings:

Minutes of Meetings is the official record of meeting maintained at the time of meeting and it is also present in the court as the evidence. The purpose of the meeting is to provide correct information and facts about the decision taken and the approach on the futuristic decision. These records are maintained in the books as well as on emails.

Why Minutes of Meetings is important?

  • Thoughtfully and carefully jot down notes are legally valid, forged and unclear information are consider to be providing false information to the government as well as within the organization. 
  • The correct data and facts helps in understanding the specific of the meeting and the future goals. 

How to write Minutes of Meeting?

Before writing the Minutes of the Meeting, it is very important to understand what kind of data you want to record and then write things in a focused manner.

  • Title and topic of the meeting.
  • Time and date.
  • Names of participants in the meeting.
  • Organization name of all the members.
  • A summary of each special discussion.
  • Note all significant decisions.
  • Don’t forget to write down the date of the next meeting.

Some parts of the minutes of the meeting can be written in just one line, such as title, date and time. There are some things which have to be written in detail like the agenda of the meeting, decisions taken in the meeting. So, always jot down the information correctly.

Read this article in Hindi – मिनट्स ऑफ मीटिंग

Categories
News

How Dr Vivek Bindra Made 12 World Records, Including 9 Guinness World Records?

Dr Vivek Bindra World Recored
Dr Vivek Bindra World Record.

“Difficulties of your life are not the dead ends. They are just the sweet bends”- Dr. Vivek Bindra.

In the realm of business education, one name stands out as a beacon of inspiration and knowledge: Dr. Vivek Bindra. As the CEO and Founder of EdTech startup Bada Business Pvt Ltd, Dr. Bindra has made significant strides in empowering entrepreneurs and business owners through his groundbreaking initiatives. With a relentless dedication to educating, skilling, and supporting small enterprises, he has captivated audiences worldwide through his interactive YouTube videos and record-breaking webinars.

Dr. Bindra’s exceptional achievements include securing an astonishing 12 World Records including 9 Guinness World Records in the field of online learning.

Guinness World Records – 9

Name of Guinness World Records Date
1. World’s largest online business lesson 24-Apr-20
2. World’s largest online sales lesson 31-May-20
3. World’s largest online lesson on strategy management 27-Jun-20
4. World’s largest online event on ‘How to Start up’ 15-Aug-20
5. World’s largest online lesson on retail management 27-Sep-20
6. World’s largest online event on leadership lessons 20-Jun-21
7. World’s largest online event on 40 Low-cost Marketing Ideas 15-Aug-21
8. World’s largest online event on Peak Productivity- Time Management Strategies 2-Oct-21
9. World’s largest online event on Passive Income with Personal Branding 11-Sep-22

Golden Book World Records – 3

These records not only highlight his unparalleled expertise but also reflect his commitment to transforming the lives of millions.

Dr. Bindra has continued to do an outstanding job of educating, training, empowering and supporting small entrepreneurs as well as business owners to hone their business skills throughout the year through its interactive videos on YouTube as well as its successful webinars which garnered the greatest audience.

Guinness World Records

Under the leadership of Dr. Vivek Bindra, Bada Business has scripted history by becoming the world`s first company to grab nine Guinness World Records back-to-back in online learning.

His series of business training sessions during the lockdown for Indian MSMEs were attended by crores of participants cumulatively. Here’s a list of the Guinness World Records that are to his name:

  1. World’s largest online business lesson (April 24, 2020):
    The ‘Online Business Lesson’ webinar which was conducted under the expert leadership of Asia’s top business coach Dr. Vivek Bindra, organized by Bada Business was participated by 4 Lakh unique users, and around 8 lakh participants across 115 countries. The webinar garnered 1 Crore minutes of viewing, which is a new world record for the Largest online business lesson. The webinar received the largest viewership leaving countries like the USA, Russia, and China behind. This was Dr. Vivek Bindra`s first attempt at GWR.
  2. World’s largest online sales lesson (May 31, 2020):
    Creating an iconic Guinness World Record for ‘Largest Online Sales Lesson’, Dr. Vivek Bindra conducted this webinar on May 31, 2020. The webinar received 15 lakh participants and 25 lakh logins from 138 countries across the globe. It was watched for 4 crore minutes with 95,087 unique viewers for 30 minutes of concurrency.
  3. World’s largest online lesson on strategy management (June 27, 2020):
    Breaking another record with the largest viewership for the premiere of an exclusive webinar on his YouTube channel based on ‘Strategic Management’, Dr. Vivek Bindra has claimed one more feather in his hat and 3rd Guinness World Record for highest viewership. His webinar received 122,323 peak viewers and was watched for 1,41,91,200 hours, making it the Largest Online Lesson on Strategy Management.
  4. World’s largest online event on ‘How to Start up’ (Aug 15, 2020):
    In his fourth attempt to make another prestigious Guinness World Record on 15th August 2020, Dr. Vivek Bindra made an all-new record for the largest viewership for his webinar on ‘Start-up Business Management’ on his most popular YouTube channel. Conducted by Dr. Vivek Bindra, the webinar received 210,626 concurrent viewers and was watched for a total of 1,84,41,720 minutes with 5.6 million reach, earning him his fourth GWR in 2020.
  5. World’s largest online lesson on retail management (Sept 27, 2020):
    In his fifth attempt, Dr. Vivek Bindra conducted a webinar on ‘Retail ka Mahakumbh’ based on ‘Retail Management’. The webinar once again reached 2.6 million viewers and received 84,023 concurrent viewers with 201.1K total unique logins earning him his fifth Guinness World Record in 2020.
  6. World’s largest online event on leadership lessons (June 20, 2021):
    After making back-to-back five GWRs in the previous year, Dr. Vivek Bindra came together with ISKCON (International Society for Krishna Consciousness) to create his 6th Guinness World Record for conducting the largest webinar on ‘Business Yoga with Bhagavad Gita’ on June 20, 2021. This webinar proved to be the greatest hit with 3,034,346 views. The webinar received 1,55,449 viewers on Dr. Vivek Bindra`s YouTube channel and was watched for 664,040 hours.
  7. World’s largest online event on 40 Low-cost Marketing Ideas (August 15, 2021):
    Continuing his streak of setting Guinness World Records, Dr. Vivek Bindra achieved his 7th record on August 15, 2021, with the world’s largest online event on “40 Low-cost Marketing Ideas.” This webinar aimed to provide valuable insights and strategies to entrepreneurs and businesses on cost-effective marketing techniques. The event witnessed an overwhelming response, attracting a massive audience. The event recorded a staggering viewership of 5,217,892, setting a new benchmark for online events. With this remarkable achievement, Dr. Vivek Bindra once again showcased his expertise in marketing and business management, empowering entrepreneurs with valuable knowledge and practical tips to thrive in their respective industries.
  8. World’s largest online event on Peak Productivity- Time Management Strategies (October 2, 2021):
    On October 2, 2021, Dr. Vivek Bindra added another milestone to his list of accomplishments by hosting the world’s largest online event on “Peak Productivity- Time Management Strategies.” This webinar aimed to equip individuals and professionals with effective strategies to optimize their productivity and manage their time efficiently. The webinar witnessed an overwhelming response from participants worldwide, reflecting the relevance and importance of time management in today’s fast-paced world. Dr. Vivek Bindra shared his expertise, providing practical insights and techniques to help individuals enhance their productivity levels and achieve their goals. The event garnered an astonishing viewership of 3,892,554, establishing a new Guinness World Record for the largest online event on Peak Productivity.
  9. World’s largest online event on Passive Income with Personal Branding (September 11, 2022):
    Adding another milestone to his remarkable journey, Dr. Vivek Bindra achieved his ninth Guinness World Record on September 11, 2022, with the world’s largest online event on “Passive Income with Personal Branding.” This webinar aimed to educate individuals on leveraging their brand to create passive income streams and achieve financial independence. Dr. Vivek Bindra’s expertise in personal branding and wealth creation resonated with a massive audience, resulting in a significant turnout for the event. The webinar attracted a viewership of 4,651,201, setting a new benchmark for online events on passive income and personal branding. During the event, Dr. Vivek Bindra shared valuable insights, strategies, and success stories, guiding participants in building and monetizing their brands effectively.

Through these Guinness World Record achievements, Dr. Vivek Bindra has consistently demonstrated his passion for sharing knowledge, empowering individuals, and transforming businesses. His remarkable ability to engage and educate millions through his webinars has cemented his status as Asia’s top business coach and a globally recognized thought leader.

Golden Book of World Records

  1. Most Live Viewers in a YouTube live webinar on the Art Of Parenting (10 July 2022):
    Dr. Vivek Bindra achieved the record for the Most Live Viewers in a YouTube live webinar on the topic of “Art Of Parenting” on 10 July 2022. This achievement highlights the significant viewership and engagement that Dr. Vivek Bindra’s webinar garnered, showcasing his expertise in guiding and educating parents on effective parenting techniques.
  2. Largest Online Motivational Session On Post Corona Business Strategies (26 April 2022):
    Dr. Bindra attained the record for hosting the Largest Online Motivational Session on Post Corona Business Strategies on 26 April 2022. This session showcased Dr. Vivek Bindra’s ability to motivate and inspire entrepreneurs and business owners to adapt and thrive in the post-pandemic business landscape. The event garnered a substantial audience, highlighting the impact of Dr. Vivek Bindra’s motivational sessions on business strategy and success.
  3. Largest Session On Entrepreneurship (24 September 2023):
    On September 24, 2023, history was made as Dr. Vivek Bindra achieved a monumental milestone at the Entrepreneur’s Launchpad Event held at the Indira Gandhi Stadium in Delhi. Driven by an unwavering passion for entrepreneurship, he orchestrated the largest session on entrepreneurship ever recorded. This remarkable feat not only left an indelible mark on the entrepreneurial community but also earned him a place in the prestigious 3rd Golden Book of World Records.

Dr. Vivek Bindra’s journey as a business coach and educator has left an indelible mark on the world of entrepreneurship. Through his groundbreaking webinars and extensive knowledge-sharing, he has empowered individuals, revolutionized businesses, and shattered records along the way. With a relentless pursuit of excellence and a genuine desire to uplift others, Dr. Bindra has become a global thought leader in business education. As his achievements continue to inspire millions, his dedication to empowering success through education is a testament to the transformative power of knowledge.

Categories
Strategy

First Impression | Why and How | Experts Tips

Tips for Making Great First Impression
Why a Good First Impression is Necessary?

The term “First Impression” describes the first immediate conclusion a person makes after coming into contact with someone, an object, or a circumstance. This initial impression can be based on a variety of factors, including appearance, behavior, tone of voice, body language, and overall demeanor.

First impressions can have a significant impact on how someone perceives and interacts with the person or situation in the future, and they can be difficult to change once they have been formed.

Reasons to make a decent first impression:

  • It sets the tone for future interactions: If you make a positive impression on someone the first time you meet them, they are more likely to be open to future interactions with you.
  • It increases trust since people are more willing to believe in someone they admire.
  • It can lead to new opportunities: Making a good first impression can open doors to new opportunities such as a job, a business deal, or a new friendship.

Read also: 8 Ways to Make a Great First Impression in Business

How to make a good first impression

  1. Dress appropriately:
    Dressing appropriately for the occasion shows that you respect the person and the situation.
  2. Smile and make eye contact:
    Smiling and maintaining eye contact communicate friendliness and approachability.
  3. Be confident:
    Being confident is important for creating a positive first impression. Make sure to talk clearly, stand straight up, and project confidence with your body movement.
  4. Show interest in the other person:
    Show a genuine curiosity in the other individual by engaging in conversation with them, listening to their responses, and asking them questions.
  5. Be positive:
    Avoid negativity and focus on positive things. Compliment the person or the situation if appropriate.
  6. Be genuine:
    Avoid attempting to be somebody you are not. People can usually tell when someone is fake, so be genuine and authentic.

Remember, first impressions are lasting impressions. You can position yourself for success in subsequent contacts by creating a favorable initial impression.

You can submit your comment regarding the article by commenting in the comment section. If you are looking for new opportunities in this field you should straightaway register for this Anybody Can Earn webinar by Dr. Vivek Bindra.

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Finance News

Major Income Tax Rule Changes starting from April 1, 2023

Income Tax Rule 2023-2024
Major Income Tax Rule Changes that came into effect from April 1, 2023.

Various changes to the income tax laws came into effect that will impact Indian taxpayers from April 1, 2023, which marks the start of the new fiscal year 2023-24.

The Indian economy has seen a boom, especially in the tax collections from the past few years. For the Financial Year 2022–2023, direct tax revenue increased by more than 20%. This number is expected to rise with time as the economy is on upside tack.

Nirmala Sitharaman, the Union Finance Minister, made the revisions public at the presentation of the Union Budget on February 1, 2023. A few modifications that were recently made in the Finance Bill 2023 are also expected to have an impact on some payers and entrepreneurs.

Some of the major changes that should affect everyone are as follows:

  1. The new income tax regime will be the default tax regime as of April 1, 2023. Tax assessors will still have the option to choose from the prior regime. For salaried individuals and pensioners, the standard deduction for taxable income exceeding Rs.15.5 lakhs is now set at ₹52,500.
  2. The standard deduction for employees under the old tax regime remains at ₹50,000. However, the finance minister has extended this benefit to pensioners under the new tax regime. Every salaried individual earning ₹15.5 lakhs or more will benefit from this at ₹52,500.
  3. Additionally, the government introduced an optional income tax regime in the 2020-21 Budget. Individuals and Hindu Undivided Families (HUFs) opting for this regime would be taxed at lower rates if they did not avail of specified exemptions and deductions such as house rent allowance (HRA), interest on the home loan, and investments made under Section 80C, 80D, and 80CCD.
  4. The enhancement of the tax rebate limit to ₹7 lakhs from ₹5 lakhs implies that individuals whose income is less than ₹7 lakhs need not invest anything to claim exemptions. Their entire income would be tax-free, regardless of the amount of investment made.
  5. Income tax slabs have undergone significant changes, with new tax rates as follows: nil for income up to ₹3 lakhs, 5% for income between ₹3 lakhs to ₹6 lakhs, 10% for income between ₹6 lakhs to ₹9 lakhs, and 30% for income above ₹15 lakhs.
  6. The leave encashment for non-government employees is exempt up to a certain limit, which was ₹3 lakhs in 2002 and has now increased to ₹25 lakhs.
  7. Investments made in debt mutual funds after April 1, 2023, will be taxed as short-term capital gains. This change will strip investors of the long-term tax benefits that had made such investments popular. Additionally, investments in Market Linked Debentures (MLDs) after April 1 will also be short-term capital assets. The grandfathering of earlier investments will end, and the mutual fund industry will be slightly impacted.
  8. Life insurance premiums over the annual premium of ₹5 lakhs would be taxable from the new financial year, which is from April 1, 2023. However, the new income tax rule will not apply to ULIP (Unit Linked Insurance Plan).
  9. Senior citizens will benefit from increased deposit limits for the senior citizen savings scheme and monthly income scheme. The maximum deposit limit for the former will be increased to ₹30 lakhs from ₹15 lakhs. For the latter, the maximum deposit limit for single accounts will increase to ₹9 lakhs from ₹4.5 lakhs, and for joint accounts, it will increase to ₹15 lakhs from ₹7.5 lakhs.
  10. Lastly, converting physical gold to an Electronic Gold Receipt (EGR) and vice versa will not attract any capital gain tax, effective April 1, 2023. These changes in income tax rules will have a significant impact on taxpayers, and it is advisable to consult with a financial expert to make informed decisions regarding tax planning and investment strategies.

The financial year of 2023 has brought numerous changes to income tax rules in India. Among the significant changes are the new income tax regime, tax rebate limit increase, the elimination of LTCG tax benefits on some debt mutual funds, and alterations to income tax slabs. The changes have now come into effect for everyone in the country. What will be the results of these changes? Only time will tell.

You can submit your comment regarding the article by commenting in the comment section. If you are looking for new opportunities in this field you should straightaway register for this Anybody Can Earn webinar by Dr. Vivek Bindra.