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Strategy

5 Golden Rules For Personal Branding

5 Golden Rules For Personal Branding
5 Golden Rules For Personal Branding

The importance of digital leadership and personal branding for entrepreneurs and startup businesses is not a secret anymore. How you appear online has increasingly become important for brands as more and more personal and professional interactions have become increasingly digitalized.

So when it comes to how you present yourself to your potential customers digitally, you need a personal brand. However, creating a personal brand can be a tedious as well as a daunting task. And more often than not many entrepreneurs can get lost in the process because they have no idea from where they should start.

Whether you are a professional or an entrepreneur who is looking to find a niche audience, personal branding is necessary. Why? Because to ensure that your brand reaches some new faces every day, you need an active audience.

So if you are a young entrepreneur or a small business owner, chances are that you already have established your brand. You have a full-blown website and social media strategies in place. Here are 5 golden rules for you to create a unique, engaging, and inviting personal brand:

1. Focus

When it comes to press and coverage too many people lose focus when they try to be everything to everyone. Entrepreneurs need to decide what their key message is and stay stick to it. When you focus on your key message for your target demography, it will be much easier for you to both create content around your brand and have others define you. To learn more about personal branding, you can also pursue online business courses for entrepreneurs.

2. Be Authentic

The easiest way to have an original personal brand is to be authentic and genuine. Consumers today have that sense see right through a disingenuous act. Do not copy your competitors. Be a master of your craft, skillset, or industry before starting your brand. Your content should be an easy daily filter for your audience. Try to engage your audience with meaningful content on social media platforms. If you are deeply skilled in one area, your reputation alone will contribute towards building your brand.

3. Tell a Story

If your brand does not have a story to tell, you have already lost half of your prospective customers. The most personal branding strategy in today`s world is to build a true narrative. It is boring not just for your customers, but also for your brand.

Many entrepreneurs often ask why? The answer to this question was beautifully given by the best motivational coach in India– Dr. Vivek Bindra who says, “no wants to hear you brag about your product or services. Customers want to know the interesting story behind the brand and want to have an awesome experience by associating with your brand”. To create a story around your brand that can engage the audience on a deeper level.

Dr. Vivek Bindra often interacts with his audience during seminars and other events, further developing his brand.

4. Be Consistent

Consistency is the key to build a successful personal brand. Entrepreneurs must understand that having a narrow focus gives them the ability to cultivate expertise. It becomes easier to get recognized for one topic if you consistently create content and brand voice around it.

Be it online or offline, you must ensure that your brand voice stays consistent in terms of gravitas, communication, and appearance. Do not underestimate how tiny inconsistencies can derail personal brand effectiveness.

5. Be ready for failure

Failure is hard! It’s human nature to generally want to avoid it. But, if you want your brand to rise above the rest, it is essential to encounter failure. Entrepreneurs must learn that the road to success goes through a halt of failures while pushing past their comfort zone. If you hire a business motivational coach he will make you realize that the best brands always come from repeated mistakes and failures. Instant perfection is limited to only instant noodles.

Walt Disney often spoke about his first failed attempts at creating an animation brand. He said, “I think it’s important to have a good hard failure when you’re young. I learned a lot out of that. Because it makes you kind of aware of what can happen to you. ”

The biggest mistake that any entrepreneur can make is to separate their brand from their personal life. The best strategy when you are trying to establish your brand is to have your actual lifestyle and brand being on the same page.

We know what you are thinking! 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 are offering an ‘Entrepreneurship Course’.

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Business motivation

5 Useful Tips For Entrepreneurs To Grow Successful Business Using LinkedIn!

5 Useful Tips For Entrepreneurs To Grow Successful Business Using LinkedIn
5 Useful Tips For Entrepreneurs To Grow Successful Business Using LinkedIn

Whether you are an entrepreneur who has just started his new journey or a small business owner your company and brand need to have a social media presence. Social media in today`s world is a powerful marketing tool. If utilized correctly, social media can take your business to new heights that would have taken you years to achieve in its absence.

Though there are multiple platforms like Facebook, Instagram, YouTube, and Twitter, we today are going to talk particularly about LinkedIn for entrepreneurs. Since its birth, LinkedIn has been an effective networking tool that helps professionals and businesses alike to boost their professional network. From MNCs to Industrialists, successful entrepreneurs to the best business coaches in India, everyone is giving special attention to their LinkedIn profiles.

LinkedIn keeps evolving itself with many useful features that let businesses of all sizes and revenue post updates and share content. This helps startup businesses to build their company brand on social networking sites.

Entrepreneurs can simply ask their connections through LinkedIn to write a recommendation of your work that you can display on your profile. And, those who are looking for funding for their brilliant startup business ideas, can boost your chances of getting your business noticed by a potential investor.

If you are an entrepreneur struggling to find your voice on social media, nothing can be better than LinkedIn. Here are 5 incredibly useful tips for entrepreneurs to grow a successful business using LinkedIn:

1. Develop Action Plan

Before you straightaway march out towards your laptop to build a LinkedIn profile, you must have an action plan ready. Unlike other social media platforms, LinkedIn is a great source of quality sales intelligence for small business owners. It can help you to raise your company`s visibility, secure clients, build and foster business relationships, and convert prospective clients into loyal customers.

Before coming out all shining on LinkedIn, spend time to make a list of people you see as your business prospects. Once, you do that, the next step is to create a highly personalized note for each person on your list and send them requests. The third step is when you are establishing a dialogue, avoid hard-selling, and instead focus on building a relationship.

To learn how to use networking for your business take online business courses for entrepreneurs like ‘Everything about Entrepreneurship’.

2. Share Professional Stories

Unlike other platforms, LinkedIn is not a social networking platform that is only meant to share food shots, travel photographs, and personal experiences. Hence, the key tip for entrepreneurs is to approach it as a platform to tell professional stories.

Talk about your professional stories- the challenges you faced, the lessons learned, and the milestones that you have achieved in your entrepreneurial journey. This will go a long way to build deeper connections and grow business. If you have no idea where to begin, you can also take help from a business coach. An ideal coach will certainly help you in building network connections.

3. LinkedIn is not like Facebook

Many people confuse LinkedIn with Facebook. However, entrepreneurs need to understand that LinkedIn is completely different from Facebook. Hence, they should not use LinkedIn as a social media site.

Connect only with relevant people, particularly with those who will gain from knowing you. Try sending them an interactive newsletter and relevant content. Do not hesitate to add people who you don`t know. You can also connect with new clients.

Wondering how to use other social media platforms as a powerful tool of business as well? Take our Problem Solving Courses to gain in-depth knowledge about marketing through social media.

4. Do Background Check

With a lot of people present on LinkedIn and make the most out of it, the platform enables entrepreneurs to locate and associate with a wide variety of stakeholders like employees, employers, investors, and partners. Thanks to its versatility, the search cost of performing the background check on LinkedIn has almost been cut down to near zero. It also helps entrepreneurs to unleash their true selves with a new wave of productivity.

If used correctly, LinkedIn can do wonders for you and your business. Entrepreneurs must leverage the platform by using its features to their utmost usage. Many businesses and brands have realized its potential. It`s time for you to unlock the power of LinkedIn for your business.

Find tools meant for rising entrepreneurs just like you with our Problem Solving Courses. From apps to services, to business strategies that let you manage many aspects of your business with the minimum investment of time and money, leaving you free to focus on the larger picture, everything is available at your fingertips.

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Startup

5 Key Factors Entrepreneurs Should Focus On For A Successful Startup

5 Key Factors Entrepreneurs Should Focus On For A Successful Startup
5 Key Factors Entrepreneurs Should Focus On For A Successful Startup

Success never comes easy! This is true. But there is no reason to make success hard when it is easy. However, it is shocking to see so many entrepreneurs continue to come in their way by focusing on the wrong things on their journey.

Most often than not many entrepreneurs focus on the things that they don`t know at first. It results in frustration and they eventually get stuck. It is very important to take tasks that you are good at first.

Focusing on the things that you can do will motivate you to keep going and to gain momentum. Focus on the easy parts, and then come on to the more difficult aspects of building your startup business. Even the best motivational speaker in India like Dr. Vivek Bindra agrees with the idea. He says, when an entrepreneur starts doing easy things first, he will build enough momentum that will help him or her to maintain the productive focus.

So, what exactly entrepreneurs must do to ensure that their business meets success at a very early stage? Here are 5 basic skills that will help young entrepreneurs to achieve success:

1. Focus on What Works the Most

Many entrepreneurs waste a lot of time focusing their time and efforts on expensive details. Though they believe that they will succeed, however, they lack the basic business skills and common business sense to back that belief.

Instead of focusing on creating their branding or marketing strategies, they often get occupied with perfecting the font on their logo. Business owners like these often make it hard for themselves, to find success and witness a boost in their profits, instead of making it easy by trusting the process.

Obsessing over perfection or the wrong details is not very productive. Entrepreneurs must learn to prioritize and how to manage their time.

2. Avoid “Squirrel Syndrome”

It is very common for an entrepreneur or a solopreneur to get entangled in various aspects of a business, and lose focus. When this happens, many people start looking for the next ‘IT’ thing to focus on, instead of trying to prioritize their subjects. This is called Squirrel Syndrome.

Jumping from one new idea to another makes you unfocused and restless for not accomplishing enough at the end of the day. Refocus by taking the time to work on one project or one direction in which you need to head towards. Work on it and turn off all distractions. Every time to take de-route, it takes much longer to reach success. You can also take online business courses for entrepreneurs to learn how to set goals and achieve them.

3. Focus on Result Oriented Activities

Whether you are a student-turned-entrepreneur or a business owner with an established brand, the focus is one of those basic but critical habits that are crucial to be successful. Start focusing more on day-to-day business activities that you are good at and they produce extraordinary results too. Spending time and energy doing the tasks you are good at helping you reap the biggest results.

4. Multitask Mindfully

Multitasking is a term that has got many advocates. But the truth to be told, doing many things at the same time can decrease your productivity. However, if you plan to do it strategically and mindfully, you can stop reacting to distractions. By remaining mindful, you can determine how you need to focus on a new situation and check-in with yourself. You can learn this crucial skill by hiring the motivational speaker or a mentor.

5. Build One Big Project at a Time

Entrepreneurs are highly creative people with amazing startup business ideas. It is difficult to turn off the desire to act on multiple ideas at once. But, starting multiple projects at once may have your mind and heart all over the place. Your attention will be split, and you will face troubles in achieving anything at all.

Thus, it is best to pick creative projects first as they will require your complete attention, focus, and creative juices as well. Make a list of all the tasks that you need to accomplish each day and stick to it. You will get a lot more done if you focus on the right thing at the right time. Giving your attention to the things that are not productive will not take you anywhere near to success.

You can learn how to stay focused and handle big projects in a startup business from our ‘Entrepreneurship Course’. You can get step-by-step business strategies and in-depth practical knowledge on how to get new business projects with ease.

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Business motivation

4 Ultimate Ways For Entrepreneurs To Deliver a “WOW” Customer Experience!

4 Ultimate Ways For Entrepreneurs To Deliver a “WOW” Customer Experience!
4 Ultimate Ways For Entrepreneurs To Deliver a “WOW” Customer Experience!

Let`s do a simple activity! Think about the last time you experienced a “WOW” moment at a restaurant or a store where you were impressed. You probably would love to go there again and do more business there, share it with your friends, and business associates too.

Customer experience is a crucial aspect of any business and an important chapter in any online business courses for entrepreneurs. Customer service can make or break a business, especially if it is a startup. A new business that is trying to make a foundation in the market generally has a hard time gaining and retaining customers.

While an excellent customer experience can retain even the most dissatisfied customers, poor and unresponsive service can turn away many potential customers. It can also turn away even the most loyal shoppers, which can certainly affect your company`s bottom line.

Customers expect good service, but if you are an entrepreneur and trying to establish your roots in the market, you must give them exceptional service. Going above and beyond will not only leave your customers blown away but will also make them advocates for your products.

To create ‘wow’ moments, you will have to make customers feel like they are the most important people in your world. Here are four ways to deliver “WOW” moments for your customers:

1. Deliver what your Promised, without Exception

Dedication and sincerity go a long way in the business world. These characteristics are something that you cannot learn in any online business courses. Delivering what you say, you will do becomes easy when you are committed enough to build systems around “WOW” moments.

When your goal is to win your customers` hearts, you look for ways to go the extra mile every time. One can achieve this by facilitating communication between different departments. Another way to sweep your customer off is to offer them a gift or more support. Everyone person loves to be treated exceptionally and little things can create special WOW moments.

2. Take Accountability & Fix Problems

Customer satisfaction is indeed a guarantee card for your business’s success. Nightmare customer service is not an alien concept in the marketplace. No customer service is mistake-proof, and let`s face it, it is practically impossible to not have any problems. We have all experienced it at some point in time.

So avoid over-promising and under-delivering, hire the right people, empower your team with training and give more importance to customer satisfaction than the customer policy.

If you know how to handle mistakes and problems that come in day-to-day business then you can earn the loyalty of your customers. Why anyone would give their money to a company that does not care?

3. Customer Feedback

Respect can never be bought or snatched, it has to be earned. To gain respect from your customers, you will have to earn it. No matter how small or large your team is, every team member must be on top of their game at all times to give customers a “WOW” experience. This also means accepting responsibility for your mistakes rather than denying it.

Customers prefer businesses that own up to their mistakes, are responsible, and take the necessary steps to correct them. And the best way to know where you are lacking is to take feedback from customers and learn from it.

Survey your customers regularly, and reward them for giving feedback. After all, they are taking out time to tell your points where you are doing excellent or you need improvement. Customers would love to help you improve if you value their time and opinion. To improve yourself, you can hire the best business coach who can help you to improve customer experience with his expertise.

Want to know how to improve your customer service? Watch this video:

4. Follow up & Follow through, Always!

Many startup businesses spend a lot of time, money and a great deal of effort chasing down new customers, only to lose them after the first or second transaction. Why? Only because they don`t follow up or follow through after their first sale.

It is very important to realize that if a customer doesn’t feel appreciated, he or she tends to go to your business competitor instead of making you their choice for repeat business.

Following up with your existing customers is the guarantee card to more business, which means more profit. When customers get a good experience with you, the probability of a repeat business increases.

Always give your customers more than what they expect. This will completely blow their brains off! Let them know you will bend backward to make their day better! After all, it`s all about the overall experience and the details that lie in between.

You can learn how to give your customer an unforgettable experience from the top industry leaders through our “Entrepreneurship Course”.

Did you like reading our article? Let us know in the comment section.

Categories
Business motivation Strategy

3 Tips To Help Entrepreneurs Grow A Powerful Personal Brand

3 Tips To Help Entrepreneurs Grow A Powerful Personal Brand
3 Tips To Help Entrepreneurs Grow A Powerful Personal Brand

Selling is one of the most important business aspects for any entrepreneur. It is also a crucial skill that entrepreneurs are obliged to master. After all, creating or developing a customer-based product or a service is just not enough! The success of your or any business depends on your ability to sell it.

And for selling to be truly successful, today`s entrepreneurs must be engaged as much with personal branding as with the branding of their products and services.

Regardless of the services or products you as an entrepreneur have developed, you must have a vision and the ability to sell it to your prospective customers, partners, or investors effectively.

As much as anything, what you are trying to sell them is your competence, your credibility, your commitment, and your reliability, etc. Being able to powerfully communicate is very crucial for business growth. And this is why personal branding for entrepreneurs is extremely necessary.

Though most people consider selling to be the toughest job in the world, with branding tips, you can easily double up your sales figures. To know more, watch our video, here:

If you want to develop a powerful and meaningful brand that aligns with you, your vision, and values, here are the top 3 personal branding tips for you:

1. Be Authentic

In this world where every brand and product is trying to imitate each other to attract more customers, being authentic is something that will set you apart from the crowd. The key to developing a strong personal brand is to Stand Out.

What is the purpose behind your product? What are your values? How your perspective is different from your competitors?

By being true to yourself, your brand and business will feel much more aligned and fulfilling. It will build much more confidence within you and you will feel more empowered. This is something that you can learn from our ‘Entrepreneurship Course’ that will help you identify and align your business with your values and goals.

2. Define your Audience

‘One shoe does not fit all’- we must have heard this metaphor probably millions of times. And in the business world following this is beneficial. Having clarity around your brand identity is essential, but the same holds for your audience too!

Not every customer is your potential customer. Hence, any business needs to identify its target audience. It will give you information about their demography, their needs, and their spending power. Once you will know your customer segment well, you will know how to speak to them in a way that they feel connected with you. You will also be able to attract more of your potential customers who are looking exactly for what you are selling.

3. Recognize your Unique Value Proposition (UVP)

If you ask us what is that one ‘you-must-apply-personal-branding-tip’ then we would recommend saying let it be this one. For any industry to make yourself visible and recognized, a clearly defined UVP is important. Unless you are in a highly specialized niche, you are likely to have lots of competitors who are just as qualified, capable, and experienced as you. Hence, a UVP helps you to stand out from the crowd that resonated with your target audience.

A UVP or Unique Value Proposition is usually a unique skill, a process, or a perspective. If you already know about your UVP but are unable to sell it effectively to your customers, you can learn it in our online business courses for entrepreneurs.

Building a personal brand simply means that you are an expert in something. Establishing your expertise in something is the most important thing, which also takes the longest time. Fortunately, there are plenty of ways to do so.

From hiring the best business coach in India to taking one of the most advanced and specialized online entrepreneurial courses, you can pick any according to your requirements. If you want to begin by upgrading yourself, you can take the ‘Everything about Entrepreneurship’ course. To know more, click here: https://www.badabusiness.com/?ref_code=ArticlesLeads

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Business motivation Startup

5 Ways A Business Coach Can Help You Grow Your Startup!

5 Ways A Business Coach Can Help You Grow Your Startup!
5 Ways A Business Coach Can Help You Grow Your Startup!

No matter at what stage your business is at, a great business coach can make you work smarter and can help you to motivate to achieve success faster.

From helping you to keep your ego in check to helping expand your network, there is nothing that a business mentor won`t do to help you navigate through the business challenges. If you select the best business coach in India, you will be provided with both the tools and a fresh perspective that you need to go from point A to point B.

Today, from entrepreneurs to big organizations, the importance of a fresh new perspective from an expert is highly in demand. Once an organization attains success, they tend to become complacent. Hence, they realize that an outside view is crucial to push them towards their ultimate goals.

If you are on the verge of hiring a business motivational coach, let us assure you that it is worth the investment. Here are five different ways in which an ideal mentor can help you to avoid falling into the pitfall and move forward:

1. Identify Pitfalls

Running a business involves a lot of things that only a great mentor and good online business courses can teach young and aspiring entrepreneurs about the different dynamics of business. So before you close your books for the financial year, take a hard look at your business performance. Then consult with your mentor as he will work with you and will surely find specific areas for growth.

Your mentor will with you to find out more gaps and pitfalls and will ensure that those pitfalls don`t cost you any more than they may already have.

2. Put Light on your Blind Spots

An ideal business coach can see things that entrepreneurs or small business owners can often miss. But, if you want to see your business climbing the ladder of success, it is very crucial to clear out the blind spots. You want to be able to foresee things before you make a plan. A mentor can shine a light upon the things you may overlook or miss and can drive you to face them head-on.

3. Boost your Strength

Strength is essential- not just physical strength, but also mental strength. Many entrepreneurs after achieving success in their initial stage become complacent. They enjoy their laurels and believe everything is fine. A business motivational coach will help you identify your potential. He will push you to increase your strengths, and that is how he helps you to bridge the gaps wherever you are lacking in your business.

4. Helps you create a Roadmap

If you don`t have a plan, your business has no future. Having a solid plan can provide you with an outside perspective, which is why many companies partner with the best business coach in India. A mentor helps you by addressing the shortcomings and creates benchmarks by putting the expertise together to accomplish your goals. This ensures that you have a plan which is a built-in strategy instead of relying on just a sheer fluke.

5. Push you out of your Comfort Zone

To build a startup from the scratch, strong networking is very helpful. But not every entrepreneur is an extrovert, some are introverts too. If you are an introvert, you need to hire the best business coach along with taking online business courses for entrepreneurs.

It is easy to get occupied in their business world. A mentor will help you push out of your comfort zone, meet new people and try new things in the business. Even extroverts can get caught in challenges; a mentor will push you out of them.

Focus, perspective, strengths, and out-of-the-box thinking are some of the benefits that a business coach can add. But there are plenty of more. However, it is very important to hire the best business coach in India.

Get practical solutions easily with our ‘Entrepreneurship Course’ which is an online business course for entrepreneurs. It is a step-by-step learning strategy, action plan, framework that are designed to empower you with various business functions.

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Motivational

5 Qualities You Must Look For In A Business Coach

5 Qualities You Must Look For In A Business Coach
5 Qualities You Must Look For In A Business Coach

Just like every young player needs a coach to hone or sharpen his or her skills, similarly, every entrepreneur needs a business coach. Why? The fastest way to learn about the nuances of business is to study someone successful at it.

The best business coach has already paid the price of gaining experience from his journey. And you should absorb all the information that you can out of him or her.

There are so many young and aspiring entrepreneurs and solopreneurs who want to be successful but are just not ready to invest in themselves. Many think that they can teach themselves and can learn on their own. However, if you ask the successful billionaires, they would advise you to make a few mistakes, if you can by taking help from the best business coach in India.

Though our whole lives are about learning, finding the right teacher or mentor at this stage can help you save time and money.

However, it is needless to say that not all business mentors can be good. Some coaches would be better than others. And with so many people claiming to be the best and offering their services online, it is essential to take your time to know a potential coach.

Before you leap to hire the best business coach in India here is a list of qualities you should be looking for:

1. EXPERIENCE

The paramount thing that a mentor can share with you is his experience. Hence, the first thing that you should look for before hiring a mentor is her work experience.

What exactly have they accomplished? How does their professional journey look like? Does he have what you want to accomplish in your professional life? Your business mentor must have walked the walk.

It is very important to find someone who has truly gained wisdom from failures and can speak to their real-life experiences. With their insight, they can guide you to navigate the business crisis and help you avoid making costly mistakes. This can increase your chances of success immensely. Ask for their testimonials and clients’ feedback. Do not forget to search for complaints as well.

2. APPROACH

Having a great attitude and a positive approach comes with time and experience. A person who has never sailed in the troubled waters of the sea can share his in-depth knowledge and wisdom on how to become a great sailor.

The right business coach will have been through it all, and emerge on the other side knowing that a light perspective goes a long way in business. They can look at the bigger picture. An ideal business mentor has patience, but also determination and persistence.

3. WILLING TO SHARE

Good or bad- a great coach is ready to share all his experiences with you. If you feel that this person is holding something back, then it is not a good sign. You can only learn the most from someone willing to be radically transparent.

4. AN EXPERT IN HIS OR HER FIELD

Has your potential business coach written a book? Does the conduct frequent webinars, seminars? Does he often give lectures? Do reporters interview him or her? If yes, you must take a great look at his portfolio to decide whether this individual has the potential to give what you are looking for?

5. ACCESSIBILITY

A good coach must be accessible and must be willing to customize his program for you because they know that different businesses have different requirements. You can ask them how much time they will offer you. What are their schedule and availability like? How many other projects they are handling? Discuss these details upfront.

A business coach can help you build longstanding relationships with people who could benefit you. Hence, hiring the best one is highly essential. Dr. Vivek Bindra is an internationally acclaimed business motivational coach and mentor. If you are looking to find the best mentor, he is the one!

Categories
Technology

Amidst Pandemic IT Spending In India Expected To Grow 8% In 2021

Amidst Pandemic IT Spending In India Expected To Grow 8% In 2021
Amidst Pandemic IT Spending In India Expected To Grow 8% In 2021

According to a new Gartner report, “the information technology (IT) spending in India is expected to reach $92.7 billion in 2021, growing 8 percent from last year, as many companies still suffer revenue declines and IT spending is accelerating ahead of revenue expectations amid the pandemic.”

IT spending across the world is projected to total $4.2 trillion in 2021, an increase of 8.6 percent from 2020.

“The second wave of the pandemic and associated lockdowns has brought a significant sluggishness during most of the second quarter of 2021. However, demand is witnessing a rapid recovery across the majority of the sectors,” said Naveen Mishra, senior research director at Gartner.

“Pharma, healthcare, financial services, education, online retail, and government continue to invest in their digital transformation journey”, he added further.

In 2021, Indian organizations including SMEs will be better positioned to invest more into IT, through the next two quarters. All segments of IT spending are projected to grow in 2021, in India. End users are forecasted to spend the highest on devices in 2021, after a 5.9 percent decline in 2020, the report showed.

John-David Lovelock, distinguished research vice president at Gartner said that CIOs are looking for partners who can think past the digital sprints of 2020 and be more intentional in their digital transformation efforts in 2021. This means building technologies and services that don’t yet exist, and further differentiating their organization in an already crowded market.

The IT services segment is forecast to total $1.2 trillion in 2021, an increase of 9.8 percent from last year. “As the world continues to open back up, enterprises will invest in tools that support innovation, anywhere operations and employee productivity and trust,” said Lovelock.

Categories
Business motivation

How To Avoid 3 Common Fundraising Mistakes Entrepreneurs Make That Can Sink A Business!

How To Avoid 3 Common Fundraising Mistakes
How To Avoid 3 Common Fundraising Mistakes

Starting a startup might seem all exciting and there could be times that everything falls into its respective place. You think about starting a business and the customers come knocking at your door since day one.

You raise funds easily and your first pitch to your investors is a rip-roaring success. Everything goes according to the script, even if you didn’t think too much about it. But what happens when you couldn’t able to generate investment for the second round? What happens when things go wrong?

Watch everything that you need to know about Fundraising in this video:

The problem with effortless success is that it does not prepare you for the worst. Some so many entrepreneurs tasted early success in their entrepreneurial journey, but things got a little tricky when additional capital was required. Their numbers were bad and their business looked like a nightmare which put the investors off-board.

So what are those BIGGEST mistakes of fundraising that every entrepreneur must avoid? Here is a list:

1. Catastrophic Mistakes

There are plenty of crucial decisions to be made over the first few raises. Entrepreneurs must decide how to pick the right investor for their business, whether they should try crowdfunding, and how to evaluate their business. The important steps can help to take the business to successful heights. But these are the areas where people can make catastrophic mistakes.

How to avoid it?

The starting point is the exit! What many people don`t realize is that taking investments puts you on a path to exit. Every investor wants to get off in 6-10 years with a return. So looking at the stages to exit is the place from where entrepreneurs should think further than expected. Also, one can take professional help from the best business coach in India.

2. The Correct Numbers

Focusing on numbers is one of the most essential things if you want to ensure that your business sustains in the long run. Many start-up businesses fail to thrive ahead because the founders couldn’t raise a second tranche of money. Numbers are critical even at the pre-revenue stage and therefore it is vital to work on the financial plan. Most founders overestimate the cost and the period it will take to hit targets.

How to practice it in the real world?

So understanding the biggest gap that exists in the business models is between what is being projected and the actual cost bases is very important. Investors typically look for businesses that can understand their cohort financial analysis, customer acquisition drivers, and churn rates. Hence, an in-depth understanding of unit economics and how it can be improved can help any business to sustain itself for a longer time. However, hiring a business coach too can help you navigate the challenges of fundraising.

3. Unpicking Experience

To err is human. And one of the best qualities that humans are bestowed with is their ability to learn from them. But is the fact that someone has made mistakes and learned a valuable lesson from them is necessarily a reason to trust their judgment? Well, certainly not!

Unless humans make mistakes, their learning will never start. However, it is not advisable to carry the burden of past mistakes over their shoulders. Many entrepreneurs carry the weight of their past business mistakes to their present and future. But dwelling on past mistakes results in nothing more than unhelpful introspection.

How to avoid it?

Learning from past mistakes is something that every successful business leader must do. Also, if you take help from a business coach he or she can probably help you to learn from their professional mistakes which is probably every essential.

Fundraising is certainly not easy! Even if you find investors in the first round easily that does not guarantee for the next investment rounds to be that smooth. Hence, only by understanding both the thinking of investors and the pitfalls that may lie ahead, businesses can be better equipped to obtain the funding they need. And taking the professional expertise of a business coach can demystify the investment landscape for entrepreneurs.

To know more about fundraising and investment strategies, take our ‘Entrepreneurship Course’ which is a specialized online business course tailor-made for those who want to pursue their entrepreneurial goals!

Categories
Finance

Financial Policy Normalization Likely To Begin By The End Of FY22

Financial Policy Normalization Likely To Begin By The End Of FY22
Financial Policy Normalization Likely To Begin By The End Of FY22

With the interest rates continually declining, the Reserve Bank of India may start tightening the monetary policy. The gradual normalization of the policy is likely to begin by the end of this financial year.

While the CPI inflation moderated marginally to 6.26 percent, the retail inflation declined in June but remained above the 6 percent threshold for the second consecutive month.

A Kotak report noted that a peak in inflation may provide comfort to MPC.

“Softer-than-expected CPI inflation along with broad-based moderation in core inflation is expected to provide relief to the MPC to continue with the pro-growth policy guidance in the near term. While much depends on the incoming data, we expect the onset of gradual policy normalization towards the end of FY2022,” it said.

Core inflation (CPI excluding food, fuel, and pan, tobacco) moderated to 6.2 percent, with flat sequential momentum following a surge of 1.5 percent M-oM in May. After a broad-based increase in the components of core inflation in May, prices have risen a lot lesser in June across all categories except transport and communication.

“We expect core inflation to average 6.1 percent in FY2022 (5.3 percent in FY2021) amid pass-through of global commodity prices and pickup in demand across various services sectors through FY2022,” it said.

While the headline inflation remains elevated above MPC’s upper threshold of 6 percent, the June print suggests that inflation may have peaked and the trajectory in 3QFY22 will moderate towards an average of 4.7 percent.

“We expect RBI to continue to maintain a pro-growth bias in the August policy focus given that a large part of the increase remains supply-driven and, hence, transitory in nature,” it said.

However, as economic activity begins to normalize with progress in vaccination, RBI’s room to ignore the inflationary risks, as well as a closing of the negative output gap, will be restricted, prompting gradual monetary policy normalization from October, although much will depend on the evolution of the pandemic, vaccination, and data, it said.