Author: Editor's Desk

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Startup Strategy

4 Growth Hacking Techniques To Make Your Startup Grow

4 Growth Hacking Techniques To Make Your Startup Grow
4 Growth Hacking Techniques To Make Your Startup Grow

Every entrepreneur wants his business to grow into a successful venture. However, the journey is not that easy. Scaling and expanding your business is difficult. There are many challenges down the road. But with the right growth strategies, scalability is possible.

To scale and grow a small startup business, entrepreneurs must adopt various growth techniques. It will also require you to interact with customers daily to create a meaningful customer relationship. And so much more!

Although some of these growth techniques are quite fresh, they have proven to be effective and play a vital role in the growth of the modern-day business. All you need is to de-clutter your mind and shift your perspective a little to identify the most effective business growth hack.

But first things first!

What exactly is growth hacking?

The entire concept of growth hacking is an experiment-driven technique to determine the most effective ways for growing a business. This vast concept includes a blend of development, marketing, engineering, design, data, and analytics.

If you are wondering if growth hacking is legal, why it has the term ‘hack’ then let us tell you that a hacker finds a quick, cost-effective but innovative method to attain growth instead of following the traditional processes.

Though, there are many existing growth hacks, here is a list of 4 strategies that will take your small business to the next level efficiently and quickly:

1. Build a Pre-Launch Email List

Email marketing though is an old method but remains the king when it comes to an effective growth strategy. It is quite an effective method when it comes to finding both leads and conversions. If you are launching a new product or a service, you can also create hype through email marketing. But, don`t just create a list of email addresses and sit idle. Take a few weeks to build up the hype and make your audience wait eagerly for the product or the service you are about to launch.

2. Create Unique Selling Point

Creating a unique experience for customers is necessary in the business world. There must be plenty of other business owners selling the same product as yours. Then why a customer should buy your product? How your product will solve the immediate problem of the consumer in the market will make the ultimate difference.

Sell the benefits and tell your target customer how their life will be changed after they purchase your product. Consumers want to know the stories behind your product, and not about your product. You can also take online courses for entrepreneurs to gain in-depth information.

3. Know your Competitors Well

Knowing about your competitors is necessary to stay ahead. Hence, do a market analysis and research about your competitors. Find out their key selling points and build a strategy that will work for your product. This is an excellent growth hack for small business owners who are in the early stages.

4. Create Strategies Tailor-made for Your Business

In this digital age, creating a marketing strategy that is tailor-fit for your brand is a little tricky. But, if done properly, it can fetch more customers and boost sales. Small business owners can deploy creative growth hacks to pull more customers to their platforms by email marketing, product recommendations, visually appealing ad creative, and identifying high lifetime value (LTV).

These growth hacks, if implemented quickly, can be quite effective for small business owners. A planned approach is necessary to scale these experiments.

Learn what works for what, not for your business. Find a customized business strategy as per your requirements with our Problem Solving Course.

Categories
Finance

5 Key Things Entrepreneur Should Know Before Applying For A Small Business Loan!

5 Key Things Entrepreneur Should Know Before Applying For A Small Business Loan!
5 Key Things Entrepreneur Should Know Before Applying For A Small Business Loan!

In a report published by Economic Times, “the Indian economy is expected to be a $5 trillion economy by 2025 and the MSME sector is expected to play a very crucial role in this growth story.” The MSME sector in our country has been the backbone of the economy. It contributes around 30 percent to the GDP and employment generation.

With the government`s ‘Make in India’ initiative, this sector is set to play an important role in supporting domestic companies and foreign multinationals to set up manufacturing units in India. Till now, 83 startups have entered the elite Unicorn club which has made India the third largest startup ecosystem in the world after the US and China.

But not every startup joins the Unicorn club. Some struggle to sustain themselves due to the lack of funds. And for an entrepreneur, the constant lookout for sources of working capital is like a nightmare, especially for those who run a small and medium-sized enterprise (MSMEs) with limited assets or collateral, finding different ways for fundraising.

So, if you are an entrepreneur and want to take a loan from a bank or a non-banking financial company, here are 5 things to improve your chances of getting a business loan from a bank or a non-banking financial company:

1. Maintain a Healthy Credit Score

A credit score symbolizes the creditworthiness of a person or business. It is assessed based on the payment history of the individual or business. So, the personal credit score of a person or a business is collected from the multiple institutions that maintain the records of the payments. These records can significantly affect the business’s eligibility for a loan.

If you pay your EMIs regularly and on time then you will have a healthy credit score which indicates that you are financially disciplined and are unlikely to default on repayment. Although the credit score that is required to take a loan varies and depends on the lender, a credit score above 700 will enhance your credibility.

2. Maintain Adequate Cash Flow in the Business

When you apply for a small business loan, the financial lender will investigate your business cash flow (past and future projections). An adequate cash flow will determine if the size of the loan that you are seeking is appropriate. Your previous loan history and existing debts will also be analyzed to determine whether you will be able to pay the loan`s monthly installments without defaulting. To ensure your loan approval, maintain the adequate cash flow in the business.

3. Keep all the Documents Required for Loan Application

One of the most important steps is you keep all the necessary documents ready when applying for a business loan. Keeping all the documents ready and in place will streamline the process and will make things smooth for you as well as the lender.

The following is the list of documents for verification:

  • Identity proof
  • PAN card
  • Address proof
  • Proof of business
  • Business and personal bank statements (last six months)
  • Business and personal tax return records
  • Business’s financial statements
  • Business’s legal documents such as commercial lease, and franchise agreement.

4. Be Insured

Being an entrepreneur involves a lot of risks. Hence, personal or business insurance is a must so that the loan can be paid off in case of any unfortunate event. Your probability of getting your loan approved is directly related to the risks associated with you and your business. The less risky your business is, the higher the chances of your loan getting approved.

5. Know the Best Time to Apply for a Loan

Many entrepreneurs often waste their time contemplating the ideal time to apply for a loan. However, there is no best time to apply for a loan, as the time of applying has minimal effect on the chances of your loan getting approved. Many business owners believe that the best time to apply for a loan is when your company is in the need of finances.

Many startups have to close their operations due to a lack of funds. But with a business loan, you can ensure that your business sustains in the market. There are many government schemes as well that offer business loans at nominal interest charges. So keep the above-mentioned points into consideration when applying for a small business loan.

Are you looking to find solutions for your burning problems? Get practical solutions easily with our problem solving course, action plan, frameworks that are designed to empower you with various business functions.

From finance to HR, Digital Marketing to IT & Sales, find creative solutions to prominent business problems easily. Click here to know how these courses will benefit you: https://www.badabusiness.com/psc

Categories
Finance

5 Key Factors Beginners Must Consider Before Choosing A Mutual Fund

5 Key Factors Beginners Must Consider Before Choosing A Mutual Fund
5 Key Factors Beginners Must Consider Before Choosing A Mutual Fund

Whether you are a novice, an experienced investor, or a trader, mutual funds are among the most popular investment options. All one needs to know is the basics and zeal to build their knowledge base to make smart, informed choices.

But what exactly are mutual funds?

A mutual fund is an investment scheme made up of a pool of money collected from many investors to invest in various securities. The fund manager then uses these funds by investing them to purchase various securities including gold, stocks, bonds, etc. Each mutual fund will have a certain objective and different returns.

So, when is the best time to invest in mutual funds- when the market is up or down?

It is both. Many people often get confused about the best time of investing in mutual funds. But investing in mutual funds needs in-depth analysis, discipline, and practice. Irrespective of the market fluctuation, these funds tend to provide decent growth over some time.

However, before you decide to invest in mutual funds, you need to be aware of a few things that will ensure you get better results and a rewarding experience.

Here are 5 things you must know before investing in Mutual Funds:

1. Mutual Funds have Different Risk Levels

Every mutual fund category is different and hence, they possess a different level of risk. However, there is no common platform based on which you can determine if a particular mutual fund category has a high risk or low risk.

For instance, direct equity has a higher risk when compared to equity mutual funds. However, it offers higher returns than other funds. So, the risk associated with every mutual fund category is different. Hence, before investing in any Mutual Fund, you should check how many risk factors it contains because every scheme has a risk assigned to it, and how much you are willing to take.

2. Find Your Objective

Before you decide to invest in mutual funds, you must know your objective. For instance, you can invest in equity funds, if you have long-term financial goals, but if you have short-term or medium-term financial goals, you can invest in debt funds.

So, before choosing a mutual fund, the first step is to decide the goal. The time frame you are looking for, and the returns that you are expecting will help you choose a fund that is best suited to your objective.

3. Check the Expense Ratio

For the proper management of your funds, a commission is charged which is known as the expense ratio. As an investor, you need to figure out how much expense ratio a particular fund is charging, as it is calculated across the investor`s total portfolio and will have a significant impact. Hence, always pick a mutual fund that comes with a lower expense ratio. The higher the AUM, the lower the expense ratio.

4. Consider the Taxes Your Investment Attracts

How much income from a fund will be taxable is something every beginner must consider. The returns from equity mutual funds are taxed based upon the holding period and the applicable tax rate. Mutual funds are often efficient in terms of post-tax returns. For instance, long-term capital gains are taxed at 10% over and above the exemption limit of INR 1 lakh while short-term capital gains are taxed at a rate of 15%.

5. Don`t forget to check the Track Record of the Mutual Fund

From checking the investment time to AUM, it is crucial to check the track record of a particular Mutual Fund scheme before investing. As an investor, you should opt for a mutual fund house with a larger AUM. i.e. Assets Under Management.  It not only withstands the sudden redemption pressure from major investors but also offers a lower expense ratio.

Also, check the investment style of the fund manager before putting money in a mutual fund. Opt for a mutual fund where the fund manager shows consistency irrespective of the market cycle.

Mutual funds are subject to market risk, which is why doing a fundamental analysis of a particular investment scheme becomes paramount. But, do know that no matter how good a fund performed in the past, it won`t guarantee that the mutual fund would do well in the future.

Want to start your own business but don`t know what to do? Become an IBC (Independent Business Consultant) and earn up to Rs 1 to 10 lakhs per month. What more? Get an opportunity to be recognized in Dr. Vivek Bindra`s world record creating mass digital webinars & Youtube Videos. Click here for more details: https://www.badabusiness.com/ibc

Categories
Business motivation

How To Find More Clients As A Freelancer?

How To Find More Clients As A Freelancer
How To Find More Clients As A Freelancer

Working for yourself at your convenience is unbeatable. The flexibility to work from anywhere in the world, and get paid is quite amazing and this is why freelancing has become a common term in this era.

Though the concept of freelancing has existed for a long time, not many people chose it as a full-time income source because of the lack of clients and unattractive income. But with the pandemic striking the world thrice since 2020, freelancing has become a common and most preferable norm.

Although freelancing is preferred by many young professionals, they often struggle to find work. And finding a new client or more business is probably the most daunting aspect of being self-employed. So how can you enjoy the freedom of working as a freelancer, and get more work at the same time?

You can watch this video by Dr. Vivek Bindra to find out what are other professional opportunities you can take up as a freelancer:

Here are 4 amazing tips that will help you to get more business and carve out a niche for yourself:

1. Understand Your Expertise

When a company seeks to hire a freelancer for their business, they prefer someone who has good experience in the relative field. For instance, any freelance writer can write about finance, however, only a professional who has written extensively for the finance sector will be able to produce high-quality pieces.

So, you need to understand your expertise. Find out in which industry you have hands-on experience and in-depth knowledge. Use your previous experience and expertise that you have acquired from your previous job as it can help you to find new clients from the relative field.

If there is a specific area in which you would like to gain experience, you can take online business courses or look for certifications to add to your resume.

2. Quote Competitive Prices & Be Flexible about it

Many new freelancers undersell themselves thinking that it will help them to get more clients. But, this can result in you being underpaid. Always remember that a client would spend money on someone with a high level of skills, and whom they can trust with their project. Pricing yourself too low can hinder the confidence of your potential clients in your expertise.

Instead of underselling yourself, look at your professional experience and expertise in the industry. Figure out what other freelancers in your industry are charging. Price yourself honestly when you bid for a project on websites like Upwork. If you need to set a rate for yourself for an overall project, analyze how many hours you will need to complete it. Don`t forget to include the time of modifications, revisions, or communication from the client`s side.

As you start gaining more experience, you can adjust your rates accordingly. You can build a portfolio as well to showcase various projects that you have undertaken to get more clients.

3. Build a Strong Digital Presence

In this world, where everything is happening online, a strong digital presence is what you needed the most as a freelancer. You don`t have to print an ad in a newspaper anymore. All you have to do is create a powerful portfolio on various social media platforms. The digital presence will help you to demonstrate your skills and expertise for those interested in hiring freelancers.

Make the most of social media platforms to reach out to new clients. You can also increase your followers to build a fan base of people who love your work. Make connections on LinkedIn because nurturing a strong network will help you with leads of potential clients.

4. Keep Your Clients Updated

One of the worst things that any freelancer could do is not to keep their client in the loop as the project progresses. Don`t make this mistake. Once, you are on board with a client, pay attention to the guidelines that are mentioned in your contract. This will give you a fair idea of if and when they expect key updates.

Try to update your clients regularly, and let them know immediately if anything changes with the project. If you are forced to adjust the deadline due to unavoidable circumstances, keep the lines of communication open. Share the reasoning behind the change and how you can manage it for them.

As a freelance professional, you should use all the opportunities to build your client base and network. Knowing how well you met their expectations will send out a message that you care about your client`s experience. This will help you to build your brand.

Want to start your own business but don`t know what to do? Become an IBC (Independent Business Consultant) and earn up to Rs 1 to 10 lakhs per month. What more? Get an opportunity to be recognized in Dr. Vivek Bindra`s world record creating mass digital webinars & Youtube Videos. Click here for more details: https://www.badabusiness.com/ibc

Categories
Startup

7 Expert Tips To Allocate A Marketing Budget For A New Startup Business!

7 Expert Tips To Allocate A Marketing Budget For A New Startup Business!
7 Expert Tips To Allocate A Marketing Budget For A New Startup Business!

According to a report in the Times of India, “India is home to 81 unicorns as of now, with a total valuation of $274 billion.” With so many startups joining the league of Unicorns, it has become essential for the existing ones to focus on their branding and marketing game.

Branding and marketing are those two pillars in an organization that help a business to reach out to its potential customers. But as there are so many marketing avenues, small startup businesses often face the challenge to determine where they should invest their limited marketing resources.

Startups often lack clarity at early stages on how much time, money, and effort they should spend on their advertising, public relations, branding, social media planning, and content strategy at the outset.

So, if you have a startup business made from your dreams, passion, and determination, here is a list of some of the most effective strategies to help entrepreneurs and founders to develop first-time marketing budgets to optimize their investments and achieve maximum results:

1. Master One Method First

Just like when we learn driving, we want to do everything at once. But, as the primary rule, we learn to control the steering wheel. Similarly, as an entrepreneur, you should pick one thing and do it well. Once you have mastered it you can start focusing on building out the other options as you begin to get more business. Focus all your efforts, time, and money on a single method and use that as your power to get more business and break through the noise.

2. Pick Measurable Outcomes

When looking out for the best marketing choices, it is best to find out what you want for your measurable outcomes to be. For instance, if you want to sell 200 products in your first month, with an average value of INR 500 per customer, you should provide this to a marketing company to receive quotes on actions, and not just marketing services. It will help them to filter out the options deemed best for your business on actual budget samples.

3. Allot a Budget to a Few Targeted Areas

It will be unrealistic for any business to allot a budget without considering their revenue. A new startup must need to consider its targeted areas and how much budget should be allocated. It is best to focus on one target area and then grow into others as traction is gained. You can also take an online business course for entrepreneurs to learn more about marketing and advertisement.

4. Find Out How Each Strategy Will Impact Your Business

While budget allocation initially is a smart decision, understanding how each strategy is going to impact your business is paramount. Dedicating between 10 to 20 percent of gross revenue is a good starting point to invest in marketing and advertisement. Basics such as collaterals should not go beyond 5% of your gross revenue unless a brand strategy calls for it. PRs, advertising, communications are all similar. But to determine what will help your business to grow and attract your potential customers is essential. Focus on what is going to help you succeed.

5. Build a Scalable & Multi-Year Strategy

In the first year, you need a logo, a website, and some basic branding elements. But one most essential thing is content. You need great content for any marketing strategy to work. And as your company grows, you can spend more on advertising and promotions. When your company begins to scale, you can increase your budget.

6. Know Your Customer Journey

One of the most crucial things that every startup must do is that they should have a solid understanding of their customer journey. Run test ads on social media platforms and Google to find out how much you will have to spend to acquire a customer. You can also take an online course for entrepreneurs for marketing.

Investing in PR and branding can help you to lower your ad expenditure, only if done right. It will also increase your conversions, and give you a better idea of how much you must invest and in which medium of marketing.

7. Begin with Organic Marketing

There is no magic formula or shortcut to marketing your brand and advertising your products to increase your revenue. Startups should always begin with organic efforts, such as content marketing, PR, SEO, before diving into big ad spending. Why? It offers three benefits:

a).  It reduces your budget

b). It lets you find out what works by trial and error before investing in advertising.

c). Delivers ROI

Every single penny plays an essential role in a startup budget. Hence, it is important to allocate the budget carefully for marketing and advertising. Hope the above-mentioned techniques will help you to seek out choices that will give you the best results for your startup business.

Having a compelling marketing idea is great. But you know what is even better? Personal guidance to increase your brand presence consistently to facilitate sales, engage your customers and close leads. Our Problem Solving Courses can help you to overcome marketing and advertising challenges.

Categories
Motivation & Mind Control

5 Effective Tips To Become An Optimist

5 Effective Tips To Become An Optimist
5 Effective Tips To Become An Optimist

Optimism is a characteristic that seems so ordinary but is quite a powerful attribute. From leading a healthy life to better performance at work and satisfaction with your job, it has some seriously positive effects.

Optimism is one of the essential ingredients that makes you successful and can lead to a healthy lifestyle and a more successful personal and professional life. Optimism is the gateway to better health and a livelier as well as rewarding social life.

Being an optimistic person opens the gate of opportunities especially for entrepreneurs. Entrepreneurs have to face a lot of business challenges in their day-to-day life. From raising funds for the initial investment to making business strategies for growth and scalability, it is very crucial to keep a positive mindset and a healthy approach to various problems in life.

So what can you do to become an optimist, if you are more likely to be a pessimist? A motivational video by Dr. Vivek Bindra can give you quick tips and can inspire you to be an optimist. You can watch it here:

If you are more of a reader, here is a list of powerful tips that are quite effective to help you become an optimist:

1. Don`t Let Failure Haunt You

Human beings tend to dwell on their past, especially if we had a bad experience. However, being a prisoner of your past can stop you from moving ahead in your life. Convince yourself that failure is a part of life. It is important to keep moving ahead, no matter what. Learn from your past mistakes and failure and move on. Even Thomas Edison had to cope with 6,000 failures before tasting success in making the first electric light bulb. You can also work closely with the best motivational speaker to gain a more positive outlook on life.

2. Be Present

Like we mentioned in the first point, it is a waste of energy and time to dwell on the past. Similarly, worrying too much about the future can result in negativity that can spiral out of control. One of the best strategies for optimism is to stay more focused on the present.

Be present in every meeting and presentation with your staff and colleagues. Focus on the present and give your best in every moment. Always know that investment in now will result in a positive future.

3. Practice Gratitude

People often complain and whine about what they lack, but very few people feel grateful for the things they have in their lives.  To be grateful for the things you have is another sure-fire way to increase your optimism. When practiced regularly, gratitude has been shown to improve physical and psychological health, reduce aggression, stress, and anxiety. It also improves self-esteem, relationships, and sleeps patterns.

When you appreciate what you have, you have more positivity about all that is to come. Despite facing hurdles and challenges that life throws at you, expressing gratitude can help you to become an optimist.

4. Know no Limits

Humans can be a prisoner of their mindset. Sometimes, the challenge that you are facing currently is not that big. When you stretch your limits, your limits will expand. When you further stretch your expanded limits, your expanded limits will further expand. Work upon your mental blockages and try to think about the challenge from a creative approach. If you feel, there is no way out, you can also take help from the best motivational speaker in india.

5. Think about Your Strengths

Sometimes, one bad event can make us question our self-worth and confidence. However, it is crucial to remember that life is not made of only roses and rainbows. It also has rain and storms too! We all just need to learn to deal with difficult situations. Whenever you find yourself criticizing for a past event, think about your strengths due to which you have also experienced the good moments.

One of the reasons for dissatisfaction is when experience and expectations don`t match. Keep your expectations realistic to be more satisfied with the outcome. And always remember that not everything in professional, as well as personal life, goes according to our wish. The optimist has some powerful effects. To reap its benefits, always present in the moment and be grateful. All of this will result in a positive mindset.

The idea of managing a business is easier said than done and we completely agree with you. This is why to help you move forward with your business goals, we at Bada Business offer exclusive Problem Solving Courses that come with Foundation courses, specialized courses, and value-added courses. To know more, visit: https://www.badabusiness.com/psc

Categories
Process & Business Expansion

5 Reasons To Attend Masterclass On Bada Business Community App

5 Reasons To Attend Masterclass On Bada Business Community App
5 Reasons To Attend Masterclass On Bada Business Community App

For every great thing, you have to pay a price. For so many years, we too believed in this adage. But, since Bada Business has started a series of Masterclass events on their community app, we believe a few things are amazing and still available for free.

The Masterclass webinars on the Bada Business community app are aimed at educating entrepreneurs, solopreneurs, wantrepreneurs, students, and small business owners across several topics related to business strategies, frameworks, investments, funding, stock market, and various aspects of distinct industries.

The webinars have attracted a great deal of interest from professionals and leaders alike, and so far they have welcomed many experts from different industries across India. With so many experts coming and sharing the same platform for the benefit of entrepreneurs, we thought we will take a look at five reasons why professionals should consider attending future Masterclass:

1. To Educate Entrepreneurs

The original purpose of conducting a free Masterclass online was to give small business owners, entrepreneurs, and many SMEs a greater insight into the often confusing world of business fundamentals. The basic education was only accessible to those who pursued management courses from the top Indian universities that are expensive for the majority of the population in our country.

The format of Masterclass is developed to educate individuals in the professional community, broadening their horizons to start their dream projects even with minimum investment. The webinars are aimed to help entrepreneurs to ease out their everyday dealings with clients and customers and potentially use them to benefit their circumstances. Previous sessions covered a diverse range of topics on the stock market, time management, how to increase sales through Google AdWords.

2. Gain Valuable Insights From Industry Experts

For every Masterclass, an external speaker is invited to share his expertise and present years of experience, providing an excellent opportunity to gain insights directly from experts in the field. Topics are chosen based on requests from the audience and a relevant speaker in roped-in.

3. Network with Fellow Professionals

Though LinkedIn is a popular platform for professionals, interacting with fellow professionals from a large community is a different experience, altogether. With up to more than 2000 people attending our Masterclass, we get a unique mix of professionals in every session. The discussion and interaction that follow these webinars are informative and help in building a network with fellow entrepreneurs, SMEs, and solopreneurs.

4. Convenience to Learn Anywhere

Most working professionals, who want to work upon their dreams, often face difficulties when it comes to learning new things from the experts. To make the learning process easy and hassle-free, our Masterclass is conducted on Bada Business Community App and offers convenient slots. From start to finish our webinars last for only 2 hours, so you can be away and back at your desk within no time.

5. Become a Content Creator

Ever thought of creating content that provides value to your users? Apart from attending Masterclass by our experts, you can upload different modes of content i.e. interactive videos, infographics, and images on the Bada Business community app. You can also get constructive feedback from your users that can help you to make improvements. Bada Business community app is an interactive platform where small business owners, entrepreneurs, and SMEs can share a platform dedicated to the business community.

But don`t just take out word for it!

We have received some excellent feedback from people who have attended our Masterclasses on the community app. You too can get a firsthand experience by downloading the app from the link: https://tinyurl.com/nhav2kp6

You too can explore the infinite possibilities that Bada Business community app offers!

Categories
Motivational

Six Crucial Time Management Tips For Busy Entrepreneurs

Six Crucial Time Management Tips For Busy Entrepreneurs
Six Crucial Time Management Tips For Busy Entrepreneurs

Being an entrepreneur is like walking on a double-edged sword. Where the flexibility to work for your dreams without having to be accountable to anyone else is liberating, managing multiple tasks at hand in 24 hours can be challenging.

Time cannot be bought and sold. And just like Jeff Bezos and Ratan Tata, you too have just 24 hours to accomplish what you want to. Neither there is any way to get the lost time back, nor can it be bought from Flipkart or Amazon. It ticks away every second of the day. And if wasted, it is lost completely. Every online course for entrepreneurs talks about time management.

As an entrepreneur, the to-do list is always growing, and to tick everything off the list, you should know which elements hold the most importance. Not all time management methods work for everyone, you must get a broader view of what works for you and what don`t.

Successful business owners know how crucial time management is to ensure that things get done on time. So, if you are an entrepreneur who is struggling to finish tasks at hand, here are 6 time management tips to ensure that things get done:

1. Make Your P-0 List

Every morning, when you get up, you should not just throw yourself into the rabbit hole filled with random tasks. This will not just waste your time, but will also put your important work in the back seat. So, every morning, write your essential tasks on a piece of paper that needs to be completed in a day. Though many management tools are available on the internet, sometimes they can be overwhelming. But, if you are comfortable with managing your time with the help of those tools, go ahead.

Avoid Parkinson`s Law which states, “Work expands to fill the time available for its completion.” So don`t just will your day with non-essential work, just because there is time left in the day.

2. Give Yourself Deadlines

Not having someone externally putting pressure on you can be a positive as well as a negative impact on the work. If you are not careful, this can lead to unproductive multitasking and procrastination. You can keep extending the deadline or keep postponing the important meeting with clients if you don`t give yourself a deadline to meet. This is something that no online business course for entrepreneurs teaches.

Setting firm deadlines can be extremely helpful for almost any task. Whether it is writing a report or creating content for a website, meeting, or phone calls, a deadline can help you with accomplishing tasks at hand under a specific period.

3. Stop Stalling

Time is a luxury. And, if you want to afford it, you should learn the art of time management. So often we spend our time on social media or chatting with friends, eating, or giving ourselves a break every other hour, however, it could lead to more waste of time. If you too have the habit of giving yourself too many breaks, then it is time to stop. Time yourself and give yourself a strict deadline to finish things. Block your schedule, delegate, and time yourself. Everything works until you decide to delay simply because you have done a great job at delegating work and doing other things.

Managing time does not mean that you should have less fun; it is the art of knowing when to work and when to play.

4. Build Up Momentum

A day is going to be productive or not this decides the first few hours of it. There is a reason why the mornings of successful entrepreneurs start early and many businessmen are in the 5:00 AM club. When you are already up early in the morning and have taken care of a couple of tasks, it keeps you ahead of your competitors and sets you up for success for the rest of the day. Most often, we procrastinate because tasks are daunting. This takes away the momentum for the rest of the day, allowing you to do more.

5. Do Right Tasks at the Right Time

Time is by far the scarcest resource and the best way to maximize it is to work in a way that keeps you in sync with it. If you are a morning person, you can wake up early and take care of important tasks. While you can`t make more time, you can use it more efficiently by doing the right tasks at the right time. By making time for yourself, you can also take some online course for entrepreneurs to update and upgrade yourself.

6. Adopt the 80/20 Rule

80/20 rule has proved to be a game-changer for many successful entrepreneurs. According to this principle, 20% of your activities will account for 80% of your results. If you have 10 tasks to finish only two of them will produce any results. However, we waste our time by doing other eight things. Always analyze the outcome of all your tasks to determine which ones are producing results and which ones have just turned into a busy day. Once you have those answers, you will be able to adopt the 80/20 rule.

So many people complain about not having enough time to achieve all that they truly desire. If you too feel like this, the problem is not probably with the day, but with how you utilize the time available to you. Try the above-mentioned techniques to manage your time efficiently.

Are you looking to find solutions for your burning problems? Get practical solutions easily with our step-by-step learning strategies, action plan, frameworks that are designed to empower you with various business functions. Find solutions to every business challenge with our Problem Solving Courses.

Categories
Business motivation Technology

How Bada Business Community App Helps Your Business to Grow Exponentially?

How Bada Business Community App Helps Your Business to Grow Exponentially
How Bada Business Community App Helps Your Business to Grow Exponentially

Summary: Are you an entrepreneur who is looking for a dedicated platform to interact with other business owners and industrialists to discuss innovative ideas and creative approaches to various business challenges? Bada Business community is the answer.

“Alone we can do so little, together we can do so much.”- Hellen Keller

This inspirational quote has been a popular one with us. So many times whenever we forget the power of community, this quote reminds us of the unforgettable strength of people coming together for a common and a greater cause.

This theory can be applied in many aspects of life- both professional and personal. For instance, a business can be founded by a single person, but its sustainability and growth depend on its employees. Whether it’s a startup or a large company, an organization can achieve its goals only if its manpower works together and play its part perfectly.

Similarly, in today`s digital world, a brand can make its presence when it reaches out to its target audience. But, not every customer is your customer. And not every platform is meant for your business.

For instance, where Facebook promotes strong family relationships, LinkedIn symbolizes a platform that is meant only for professional relationships. You can share your vacation pictures on Instagram and Facebook, but on LinkedIn, you will have to abstain from doing so. Hence, a company needs to identify its target niche for business growth and scalability.

For so many years, we have been witnessing the surge in social media platforms that are meant solely for entertainment purposes. There is a dearth of good social media platforms that are meant only for entrepreneurs, solopreneurs, wantrepreneurs, SMEs, and MSMEs. A platform that allows its users to learn the twisted dynamics of business fundamentals in a layman language is the need of the hour.

According to InvestIndia.gov.in, our country witnessed the birth of 44 unicorns with a total valuation of $92.77Bn in 2021. In the first two weeks of January 2022, India has got its 2 unicorns.

Since the onset of COVID-19 many young entrepreneurs are looking to take their startup businesses to the next level. But due to lack of guidance and a tailored-fit community, they often end up doing a 9-to-5 desk job. To help the Indian youth with their entrepreneurial journey and small business owners, we have launched the Bada Business community app!

What is Bada Business Community App?

Bada Business community app is India`s 1st platform where a large community of entrepreneurs, solopreneurs, wantrepreneurs, and SMEs come together for learning and growth.

Most often business owners, entrepreneurs, and even popular brands use platforms like Facebook, Instagram, Twitter, and LinkedIn. Though using these platforms might result in good marketing, the absence of a relevant audience and trustworthy partners lead to slow business growth and less lead generation. Where using social media platforms might be helpful for the B2C business model, for B2B business, these platforms often result in a waste of time and effort.

At Bada Business community app, you will find relevant people with whom you can discuss the possibilities of business and share your ideas. What`s more? You can find 1 Lakh active followers in just 100 days, who are genuinely interested in your product or service and are not just looking for a marketing gimmick i.e. follow for following, like for like.

Key Benefits for Bada Business Community App

Apart from helping the community of business owners grow, there are various benefits of using this app. Here are some listed below:

  1. Build Your Network

If you want to become a social media influencer or a content creator for your niche target audience, the Bada Business Community App can help you to build your network. You can easily share knowledge and information and attract more potential customers.

  1. Learn Vital Marketing Skills

When you connect and share with like-minded people, you grow, unexpectedly! Many marketing experts, subject matter experts, and advertisers are present on Bada Business Community App! You can learn advanced sales techniques, digital marketing strategies.

  1. Attend Masterclass by Industry Experts

When we subject matter experts, we don`t mean the self-proclaimed ones! On Bada Business Community Experts we have experts from the industries with whom you can learn the dynamics of the business world. From video editing to data management, sales techniques to digital marketing, you can learn anything from our free Masterclasses!

  1. Create Unique Content

Ever thought of creating content that provides value to your users? On the Bada Business community app, you can upload different modes of content i.e. interactive videos, infographics, and images. You can also get constructive feedback from your users that can help you to make improvements.

Bada Business community app is an interactive platform where small business owners, entrepreneurs, and SMEs can share a platform dedicated to the business community. You too can explore the unlimited possibilities that India`s no.1 platform offers, today!

Download now! https://tinyurl.com/nhav2kp6

Categories
Startup

4 Big Common Legal Mistakes Startups Make

4 Big Common Legal Mistakes Startups Make
4 Big Common Legal Mistakes Startups Make

Starting a new business is no less than a marriage. Initially, everything is rosy and smooth, but as soon as the honeymoon period fades away, the real hustle begins. This is the reason startups need to have a clear legal agreement in place.

A startup business can face significant legal challenges due to plenty of mistakes made by its founders. These mistakes are generally made at the initial formation of the business, at the early stages of growth, and when dealing with staff. You can also hire the best business coach to get the right guidance.

If you are an entrepreneur and planning to start your dream venture, here is a list of common and legal mistakes you must avoid at all costs:

Mistake #1: Not Making an Agreement with Co-Founders

If you are starting your business with a co-founder, then you should have all the agreements in place at the initial stage of your business relationship. Not doing it can lead to various legal challenges down the road. A founder`s agreement is just like a “prenuptial agreement.” Here are the key legal terms your founder agreement must involve:

  • What are the roles and responsibilities of the founders?
  • How will the equity be split among the founders?
  • What is the overall goal and vision for the business?
  • What salaries are the founders entitled to? Factors that will lead to change salaries?
  • Is each founder’s percentage ownership in the company subject to vesting?
  • If one founder leaves, does the company or the remaining founders have the right to buy back the departing founder’s shares? If so, at what price?
  • How will a sale of the business be decided?
  • What time commitment to the business is expected of each founder? What constraints will be imposed on outside commitments?
  • How will key decisions and day-to-day decisions of the business be made? (by majority vote, a unanimous vote, or are certain decisions solely in the hands of the CEO?)
  • Under what circumstances can a founder be removed as an employee of the business?
  • What assets or cash does each founder contribute or invest into the business?
  • What happens if one founder isn’t living up to expectations under the founder agreement?

Mistake #2- Not Deciding the Structure of the Company

Because founders often start businesses without consulting lawyers, they do not decide the structure of their businesses. One of the very first decisions that any entrepreneur should make is in what legal form to operate the business. Due to the incorrect structure of the company, startups often incur higher taxes and become subject to significant liabilities that could be avoided by structuring their startup business as a corporation or a Limited Liability Company (LLC). You can also take help from the best business coach who can help you navigate with legal formalities.

Mistake #3- Choosing a Disputed Business Name

It is very important to do research when picking a company name as it helps to avoid trademark infringement or domain name problems. It also ensures that the name you select is available to use. Here are some steps that you can do to avoid naming issues:

  • Conduct a Google search on the name to check if it is already in use.
  • Before picking a domain name, search GoDaddy.com or other domain name registrars to see if the domain name you want is available.
  • Ensure the name is distinctive and memorable.
  • You can shortlist 5 names and test market them with prospective employees, investors, partners, and customers.
  • Avoid unusual spellings of the name as it can cause confusion and problems down the road.

Mistake #4- Not Adhering with Securities Laws When Issuing Stocks

If founders form a corporation, LLC, Limited Partnerships, or any other structure the sale of stocks, limited partnership interests, or LLC interests to the investors will be subject to state securities laws. Most laws require that such sales comply with certain disclosure, filing, and various other form requirements unless the sales are exempt. If any business fails to comply with these laws, it can result in significant financial penalties for the entrepreneurs and the company.

Founding a company is not much different from getting married. Everything looks promising in the beginning, but as the business evolves, complexity and stress become a part of everyday operations. So, with all of the things that go into launching a startup, one must get the Founders agreement, right!

The idea of managing a business is easier said than done and we completely agree with you. This is why to help you move forward with your business goals, we at Bada Business offer exclusive problem solving courses that come with Foundation courses, specialized courses, and value-added courses. To know more, visit www.badabusiness.com