Category: Business motivation

Categories
Business motivation

5 Classic Books Warren Buffett Recommends For Every Entrepreneur!

5 Classic Books Warren Buffett Recommends For Every Entrepreneur
5 Classic Books Warren Buffett Recommends For Every Entrepreneur

Warren Buffett didn’t become a billionaire by just a sheer fluke. But by making smart and informed investment decisions to play a long game and by acquiring a vast amount of knowledge Warren Buffett has become what he is in the present day.

Today, not many people want to spend their time reading due to many reasons. But Buffett reportedly spends around six hours a day reading books. Though it may be a daunting task for many people due to their hectic lifestyle, if you are highly inspired by The Oracle of Omaha, you must read around “500 pages” every day.

Warren Buffett spends 80% of his time reading. He has read a lot of books over the years and has made book recommendations along the way. However, just like everyone he too has some of his favorites of all time and would love everyone to read, especially entrepreneurs who are starting a small startup business.

Here is a list of five books that every aspiring entrepreneur, solopreneur, and wantrepreneur must read:

1. The Intelligent Investor- By Benjamin Graham

At the age of 19, Warren Buffett first read this book in 1950. He points out that it is by far the best book about investment that includes a proper intellectual framework for decision making. He has also added a preface to the book`s fourth edition.

The Intelligent Investor, written by Benjamin Graham teaches its readers some of the most invaluable investment strategies regarding value investing in the stock market.

So what is his favorite way to accumulate knowledge? Reading. Watch the amazing journey of Warren Buffett here:

2. Business Adventures: Twelve Classic Tales From the World of Wall Street- By John Brooks

First published in 1969, this book is an interesting compilation of Brook`s New Yorker stories. It takes its readers on a journey where it recounts events such as Ford`s introduction of the Edsel, and the rapid rise of Xerox in the days before Steve Jobs disrupted the market with his revolutionary ideas.

When Bill Gates asked Warren Buffett about his favorite book 19 years ago, Buffett gifted Gates with his copy of the same book. Though the business world has changed a lot, Gates says, “Brooks’s deeper insights about business are just as relevant today as they were back then.”

3. Security Analysis- By Benjamin Graham & David L. Dodd

While studying at Columbia University, Buffett read Security Analysis with both its authors. “Together, the book and the men changed my life”, he wrote. Since then he has been following their investment strategy, and it continues to serve him well to date.

4. One Thousand Ways to Make $1,000– By F.C. Minaker

If you can get past the dated language, Buffett credits One Thousand Ways to Make $1000 to kick-start his career. The book was written in 1936, and Buffett found this book in the school library at the age of 7 years. The lessons embedded in this book have stood the test of time and remain as valuable as they were back in 1936.

5. The Most Important Thing- By Howard Marks`s

Warren Buffett has always been an advocate for taking risks. But he firmly believes that there should be a methodology behind it. To help develop that methodology, he recommends “The Most Important Thing”, by Howard Marks. Marks, co-founder, and chairman of Oaktree Capital Management is a renowned investor known for his insightful assessment of market opportunity and risk.

If you want to understand the dynamics of investment and business, these books are recommended by Warren Buffett and every entrepreneur must read them.

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 Business Coaching Program for Entrepreneurs.

Categories
Business motivation

5 Key Things Entrepreneurs Must Consider Before Choosing Business Coach

5 Key Things Entrepreneurs Must Consider Before Choosing Business Coach
5 Key Things Entrepreneurs Must Consider Before Choosing Business Coach

With the onset of the pandemic in 2020, the dynamics of the business world shifted drastically. It is no more a secret that the virus and the nationwide lockdown have left a negative impact on every business. However, it is the small businesses that are worst affected and doing less despite their efforts.

While many entrepreneurs have experienced huge losses and are still struggling to gain momentum in their business, many have taken help from the best business coach in India.

The term business coach has gained a lot of popularity in recent years and it also denotes a mentorship relationship for both the individual leaders and their organizations.

But how to find the right business coach that can take your startup business to greater heights? Finding the right business motivational coach requires a strategy that will ensure that you get nothing but the best.

If you are looking for an expert to help you overcome all the hurdles in your business, here are 5 things that you must look for in a business coach:

1. Equipped with Industry Knowledge

When looking for the best motivational speaker in India for your business, always ensure that the prospective individual has a solid understanding of your industry and market. It may sound simple, but even small details matter when you are planning to take help from a professional. Mundane skillsets like accounting, human resources, etc. have unique attributes that are industry-specific.

2. An Expert in Your Discipline

Though it may be unrealistic to expect that one person will have deep expertise in all areas. But, it is often required because every business has different requirements. So, depending upon the size and the maturity of your company, a more deeply focused advisor is what is required.

3. Culture & Value Alignment

It is very important for the business coach that you hire to build trust and a rapport in your organization otherwise his inputs can be met with resistance. Also, personality match is the key consideration as it can help you to bridge gaps in your current culture.

4. What Values He Brings

While a business motivational speaker may have multiple strengths, it is very essential to figure out that crucial trait that will help your organization and your business to grow. For instance, find out if they are capable to see the gap space between what is being done currently and what should be done to make some progress.

5. Proven Record

Whether qualitative or quantitative, an ideal business coach will talk in terms of concrete results from his past experiences. This will not only give you confidence in his expertise but will also give you an idea of how much he can be beneficial for your small startup business.

Always ask for their past work and check that they have a proven track record of the work they have done. Also ask them about references that can provide additional context for how these results were achieved, and with what level of accuracy on implementation guidance.

A business coach can help you out because he has been there and has gained an experience-first hand. A business motivational coach is someone who has been in the industry for a very long time and has acquired good experience. Such an advisor can help you to take tough decisions and can advise you better in making a business plan for your startup.

Hiring the right coach can take your startup business in a completely new direction and on the path of growth. To understand the dynamics of business in-depth, you can take our business coaching program.

Categories
Business motivation

5 Mindset Traits That Every Successful Entrepreneurs Have!

5 Mindset Traits That Every Successful Entrepreneurs Have!
5 Mindset Traits That Every Successful Entrepreneurs Have!

Life is uncertain and the pandemic has taught us it the hard way! Where many people lost their jobs, many small and large businesses had to shut down because of the pandemic.

However, there have been many people who also transformed the adversity into a business opportunity. Many companies have joined the Unicorn league and are doing exceptionally well. Inspired, many individuals want to start their own small startup business as they have creative money making ideas.

But at the same time being your boss may sound amazing, but starting a startup is more than just saying “I am running my own business and being my boss”. To be a successful entrepreneur, you need to have that entrepreneurial mindset that will allow you to succeed in this day and age.

If you thought that you need to pursue management courses from a recognized university charging you a bomb, you are mistaken! All you need to do is reflect and know yourself first along with some of these traits we are mentioning below:

1. Maintain a Positive Attitude

When it comes to run a successful startup business, having a positive outlook pays! A positive approach and outlook help you to act around challenges and find creative solutions without letting negative emotions clouding your judgment.

2. Open to New Things

Just like in real life, businesses are also unpredictable. No matter in which way you want things to work out, you have to be prepared to handle completely random and unimaginable challenges. As an entrepreneur, you need to be quite adaptable to the dynamic changes of the business world. With a Business coaching program, you can learn how to handle the challenges of business, efficiently.

3. Being Curious

Business thrives on innovation and to be innovative, you need to constantly feed your curiosity. It is always a wonder to see how different parts of the business work. When you keep your inner child alive, you tend to become curious even about simple things. This sense of inquisitiveness allows you to come up with out-of-the-box solutions to your business problems, even before they happen.

4. Persuasion comes naturally to you!

Persuading people into buying your products is one thing, but persuading your employees that your solutions are effective is another. Whether it is about an elevator pitch or proposing a solution to a customer`s burning problem, an entrepreneur needs to have excellent communication skills.

When you are an effective communicator, you can put your points across effectively. You know how to deliver your message to your partners, stakeholders, and your social media platforms.

5. Creativity

Creativity is a vital ingredient that makes the recipe of your small startup business a hit! To bring innovation in your services and products is a critical factor that helps you create a USP for your small startup business.

Though there are no set rules or parameters to have an entrepreneurial mindset, there are some traits that can help you decide if you are a perfect fit & ready to start your entrepreneurial journey. If you are passionate about an idea and want to fulfill your entrepreneurial journey nothing can stop you.

To learn the nuances of the business world, you can take our Business Coaching Program. Here you can get exclusive content from the subject matter experts and learn from the top industry leaders. To know more about it, visit www.badabusiness.com.

Categories
Business motivation

5 Motivational Quotes To Fuel Your Entrepreneurial Dream!

5 Motivational Quotes to Fuel your Entrepreneurial Dream!
5 Motivational Quotes to Fuel your Entrepreneurial Dream!

To become a successful entrepreneur, setting goals is the first step. To accomplish anything meaningful in our lives, everyone needs to set a clear objective. And as it is only four months to the onset of 2022, it is time to make new resolutions and goals and work upon them to prepare ourselves for the year ahead.

To keep you motivated, we thought that it would be incredibly fitting to compile a list of some of the best quotes and our favorites that will keep your spirits uplifted for the New Year.

These powerful quotes by some of the most influential will always remind you not only of the importance of setting goals but also why did you make them in the first place.

Here is a list of 5 of our favorite quotes that exude power, persistence, and perseverance:

1. Vision is Essential

“None can destroy iron, but its rust can. Likewise, none can destroy a person but his mindset can.” – Ratan Tata

An amazing quote said by none other than the most admirable and respected industrialist, investor, philanthropist, and former chairman of the TATA Group– Ratan Tata.

Ratan Tata has been garnered admiration across the world not only for his incredible business ethics and philanthropy but also for his integrity. A person`s mindset can be his best friend or foe. No matter how hard-working, talented and skilled you are, if your mindset is not right, you can end up being stuck at the same place for years.

Watch how Ratan Tata became one of the most celebrated industrialists in this video.

2. Dream Bigger

“Shoot for the moon. Even if you miss, you’ll land among the stars.” –Les Brown

Many people want to start their own business. But they impose multiple restrictions upon them due to which they block their path of success. When you dream big and shoot for the moon, you force yourself to step out of your comfort zone to yield bigger results.

3. Believe in Yourself!

“Don’t let the noise of others’ opinions drown out your inner voice.” – Steve Jobs

Many people are dependents on the opinion of other people. They want to please everyone, and that is the major reason why they fail in their lives. If you let the opinion of others affect you, you will never become successful and achieve your goals. You can watch his inspirational journey here: 

4. Goal Gives Meaning to Your Journey

“The trouble with not having a goal is that you can spend your life running up and down the field and never score.” –Bill Copeland

Some people do not set goals and spend their entire lives fulfilling others. Hence, it is very essential to give direction to your life by setting an objective and then fulfilling those goals.

5. Stay Focused!

“Obstacles are those frightful things you see when you take your eyes off your goal.” –Henry Ford

It is very common for entrepreneurs to lose their focus once they begin their small startup business. An entrepreneur has to don multiple hats due to which the objective of the business takes the back seat. Hence, it is very important to stay focused on your goal and keep walking towards it.

We hope these motivational quotes will inspire you to make new objectives for this year and the next. To get more information about starting a startup you can take our business coaching program.

Categories
Business motivation Strategy

5 Amazing Benefits Of Working With A Professional Business Coach!

5 Amazing Benefits Of Working With A Professional Business Coach!
5 Amazing Benefits Of Working With A Professional Business Coach!

With many entrepreneurs turning towards the professional help of a business coach, many small startup business owners who are struggling with their business problems are now realizing its importance.

Entrepreneurship can be a lonely journey. Though it might sound exciting at the early stage, one has to don multiple hats and take care of multiple operations. Sometimes, it also means working endlessly and still feels like you are stuck on a deserted island.

Though the internet is filled with articles, blogs, podcasts, and exclusive video tutorials on how to build and scale your small startup business, every business is unique and so are your challenges. In this case, those articles and blogs will not prove helpful. This is where taking a business coaching program becomes essential for entrepreneurs. You can also watch our video on “Strategy to scale your business”, here:

But a business coaching efficiency depends on two critical factors i.e. the client is willing to grow, and there is a gap between where they are now, and where they want to aspire to be.

As an entrepreneur, working with a business coach can benefit you in various ways. A business coach can help you to grow in the following ways:

1. Helps you Set Goals & Work Towards it

Humans are passionate about the work they love doing. But unfortunately, very few people are aware of the fact what they want to do with their business and their professional lives. A business coach can help you to distinguish between what you could have, should have, and have-to-have.

A great business coach can also help you to set your ideal goal for your business and help you to achieve them too.

2. Helps you to maintain a Healthy Work-life Balance

If you want to be successful, it starts with a balanced lifestyle. It simply means that you will have to prioritize your professional commitments as well as personal commitments, which also means that you will have to be selfish, yet responsible. You will have to get better at communication, get your needs met, and still have people like you. You need this strong if you truly want to be successful.

3. Manage your Finances Well

Many startups fail in the initial years because of a lack of funds. Hence, it is essential to handle your finances well. A business coach can help you scale your business by setting up a startup business plan and future. He can also help you to design a strategy for you to earn more from your business.

4. Take Better Decisions

An ideal business coach knows and very well understands the importance of brainstorming and sharing ideas. He will encourage you to think out-of-the-box and bring innovative ideas to the table. He will be your best critic and will always give you honest and constructive views.

5. Helps you become more Focused & Productive

A mind that is focused and concentrated is also more productive. With a focused mind, entrepreneurs can make better judgments, great strategies, and excellent business plans for the future of the startup business.

When you are happy and free from problems, you will feel more productive and efficient, thanks to your business coach.

A business coach is an expert entrepreneur who has gained experiences through personal and professional experiences. He knows how to start and grow successful businesses and is willing to mentor you. Instead of making random and impulsive decisions on your own, you can work along with a business coach to help you upscale your small startup business.

Are you looking to grow your business with a help of a professional business coach? You can take our Business Coaching Program that is a super bundle of foundational and value-added courses that provide your hand-holding support with a certified Business Coach.

Categories
Business motivation

What is a Business Coaching Program & Why It is Beneficial for Entrepreneurs?

Business Coaching Program
Business Coaching Program

India has a large talent pool where a lot of young aspirants are looking to fulfill their entrepreneurial dreams with their innovative ideas. But due to lack of resources and funds, they compromise and take up a 9 to 5 regular job. Starting a new small business online or offline can make anyone overwhelmed.

Another reason due to which many people give up on their small startup business plan is that a lot of people who hail from small cities believe that only a full-time MBA program is the key to start a new venture and making it successful. However, that is farther from the truth.

There are courses like the Business Coaching Program offered by Bada Business that can equip the Youngistan of India to not only set up their small startup business but also make it successful.

What is Business Coaching Program?

Our Business Coaching Program is a customized comprehensive leadership program that offers a global perspective. This course is divided into three branches- Foundation Courses, Personalized Value Packs, Self-learning Courses.

A Certified Personal Business Coach with their expertise will be available to provide your support and help you understand various business-related dynamics, concepts, and case studies in a structured manner. Our customers will also be allowed to attend 1 physical event of 4 days and 24 Master Classes.

Apart from offering an impressive combination of distinct courses that will provide solutions to your business-burning problems, our Business Coaching Program also offers hand-holding support to our customers.

Here is a list of key features of the BCP – Business Coaching Program:

1. Certified Personal Business Coaches

2. Chat-based Hand-holding Support

3. Training by Billionaire Professors

4. 750+ Videos Lessons

 

  1. FOUNDATION COURSES

Our personalized Business Coaching Programs bring a global perspective locally to provide an immersive learning experience with Structured Business Frameworks, Case-studies, and in-depth Video Tutorials that support the unique needs of Entrepreneurs, Solopreneurs, and Wantrepreneurs.

Through this course, you can find practical solutions from Subject Matter Experts. You can learn new and effective techniques to generate leads for your business. We offer business frameworks, robust case studies, and templates to help you learn and grow with our Business Coaching Program.

Some of the benefits are given below:

a. Get Practical Solutions with Business Coach.

b. SMEs from World`s Best Universities.

c. Get Qualified Leads for your Business.

d. Robust case studies, frameworks, templates.

e. Convenience to Access Courses anytime, anywhere. 

 

  1. PERSONALIZED VALUE PACKS

Our personalized value packs is a super bundle of practical solutions that focus on specific business challenges that can hinder your growth. Through our Personalized Value Packs gain new strategic insights, global perspectives, and leadership skills that enable us to lead change, drive innovation, and sustain a competitive advantage.

Some of the benefits are given below:

a. Develop Foundational Skills critical for business.

b. 5 Days of Live Sessions with Dr. Vivek Bindra.

c. 240+ exclusive videos, PPTs & assessment tests

d. Cultivate leadership skills through our Business Saarthi.

e. Exclusive business courses in Hindi on Bada Business App.

 

  1. SELF-LEARNING COURSES

Our Self-learning courses are directly linked to your unique business burning problems and are delivered through a range of virtual and in-person blended formats. Our self-learning courses can help you to remove the obstacles in your business growth and explore global best practices. It will also fill gaps in your knowledge and skills so that you can contribute at a much larger level to your organization.

Some of its benefits are given below:

a. Self-Paced Courses

b. Learn from the Experts

c. Solutions to Every Business Problem

If you want to take your entrepreneurial dream ahead and want to transform it into a reality, Business Coaching Program is apt for you. To know more about it, visit www.badabusiness.com.

Categories
Business motivation

5 Ways Sports Can Shape Entrepreneurs Into A World Class Leader!

5 Ways Sports Can Shape Entrepreneurs Into A World Class Leader
5 Ways Sports Can Shape Entrepreneurs Into A World Class Leader

National Sports Day is a day that is dedicated to the sports and sportspersons in India. To commemorate the birth anniversary of hockey legend Major Dhyan Chand, this day is celebrated on 29 August.

Stressing the need to stay healthy and fit, this day is observed to spread awareness regarding the sports and daily activities in every individual`s personal and professional life.

While many of us see the physical side of sports, very few people know that playing sports can help entrepreneurs to become great professional leaders. Business and sports have many similarities. Both require patience, teamwork, goals, strategies, and most importantly the best version of you to make them a success.

Playing or competing in sports can teach people essential lessons that can be important for business. The skills that can provide an edge in a competitive sport can also enhance your entrepreneurial skills.

How to remain focus, determined along with heightened awareness during the challenging times helps entrepreneurs to become better leaders. It creates expansive entrepreneurs.

Many successful entrepreneurs like Dr. Vivek Bindra, who is an internationally acclaimed business motivational coach loves to play football. He admits that sports can bring many benefits to entrepreneurs` lives.

Here is a list of the best five that can help you to sharpen your entrepreneurial skills:

1. Keeps Your Creative Juices Flowing

An entrepreneur has to work on multiple projects at the same time. Every challenge is unique and requires a creative approach. Sports not only help you to tone your muscles but also increase the cognitive function of your brain. This happens due to the increased blood flow to the brain.

So if you are looking for a creative solution to a major business challenge for a couple of days, all you need is a good game of football.

2. Keep you in Better Health

Running a business has to do a lot more with poor health than optimal well-being. Stress, high blood pressure, anger issues, anxiety, and insomnia from too many tasks at hand can result in chronic health issues. Entrepreneurs or business owners who are not indulged in any kind of sports may experience the ill effects of stress and anxiety.

However, business owners with a competitive sport push themselves in many distinct ways to become a better version of themselves. The endorphins released during the training and competing help them to carry over their day-to-day tasks with much ease. They perform better and appear much happier in general.

3. Help you to Broaden Perspective

Turning up to the same workplace, doing the same work with the same people around can become monotonous. It does not help to expand either your mind or life. Perhaps a new project might come up and you might handle it successfully, but over time it will lead to boredom.

Sports help individuals to become more approachable, knowledgeable, and worldly in wider fields. When someone has interests in sports or any other extra-curricular activity other than doing their job, it says a lot about their character and what they are capable of.

4. Teach you about Resilience & Discipline

Competitive sports helps to develop resilience and resourcefulness, and many other traits that help to expand a business and a career. It introduces entrepreneurs to people with new ideas, innovative approaches to traditional problems, backgrounds, and ways of looking at the world.

5. Teach You About Team Work

One of the most significant ways in which sports can prepare entrepreneurs, solopreneurs, or wantrepreneurs with small startup business ideas is by teaching them the importance of collaborative work.

Even if you play a sport that does not require a team to win an individual tournament it requires a joint effort from the athletes, the coaches, staff, and other training partners.

It teaches a great lesson that no organization big or small can thrive without a group of people who know how to work together.

The most amazing part about playing sports is that it helps entrepreneurs or any individual to become a better version of themselves organically.

This National Sports day, why not try something new that not only improves your physical well-being but will also train you to become a successful entrepreneur. For the rest of your business problems, learn about our new Business Coaching Program that gives you practical solutions with hand-holding support from our experts.

Categories
Business motivation

4 Effective Ways For Entrepreneurs To Scale Their Business With Ease!

4 Effective Ways For Entrepreneurs To Scale Their Business With Ease!
4 Effective Ways For Entrepreneurs To Scale Their Business With Ease!

Are you a small business owner or an entrepreneur who now looking for effective ways to scale your business? If your answer is yes then reading this article is a must for you. Why? Have you ever wondered why do some companies grow rapidly, while others stay at the same level for decades? You can find the answer in this article.

So let`s imagine a business as a car. Startup businesses that grow successfully like those cars which upon reaching the limit of possibilities, change the engine to a turbocharged one, refuel their tank, hire top drivers and mechanics, make essential modifications in the structure to make it lighter, and then take the vehicle to a different track.

While the second ones, who stay stuck at the same level are the ones who keep pressing the gas pedal without making any necessary alterations.

The situation with the business scaling is more or less similar. So what are the key strategies that can help you prepare your business for a different track?

1. DELEGATE

Many entrepreneurs tend to do things on their own. They understand the entire working process, what each employee was doing including the small details. But after a certain point of time, it becomes difficult for them to delegate the management to another person. However, delegating is an inevitable step because entrepreneurs need time to address strategic business development tasks.

Hence, you must ask yourself questions about how much your time is essential? Or how much less will the business earn if instead of my work I do someone else`s? Clearly define which tasks you will continue to handle and what you should leave for managers. Over time, your managers can become your partners if they can manage and handle the team.

2. Explore New Markets

To increase the stability of any startup business, it is essential to transacting in different markets. It is not only the best way to stimulate business growth, but it also serves as insurance. Ask yourself what happens to your business if a financial crisis like the demonetization or any political crisis breaks out in the target market.

It is essential for entrepreneurs to diversify their business and not to depend on one country, set of customers, currency, or language group. It increases the stability of your business many times over.

3. Monitor the Finances

Compliance has become the benchmark in the business world. Primarily, it is about taking care of relationships with banks, investors, and clients. If you want to scale your business in the overseas market, the international banks will not simply open your bank account if they do not like something in the history of your business. A clean reputation is expensive and necessary if you want to scale your business.

Even if the foreign market is not your goal, you should maintain a healthy financial history of your business. Your potential clients or investors might refuse to work with you if they consider you not reliable enough.

4. Follow Market Trends

One thing that every startup business owner needs to understand is that the crisis will come, and you need to be prepared for it. It is very essential to outline the processes that need improvement. Follow the regulatory policy and create contingency funds. Analyze which company indicators should be improved right now, and what are the processes that can be left aside. Also, be prepared to make some difficult and unpopular decisions.

By creating a plan, taking action, and staying persistent come what may, you can scale your business. It is not easy. No one ever said it would be. But it is well worth it. You can use our strategies that will help you scale your business and boost revenue. For more in-depth knowledge of powerful business scaling strategies, you can take our Business Coaching Program.

Categories
Business motivation

5 Tips To Identify The Right Dropshipping Vendor For Your Business

5 Tips To Identify The Right Dropshipping Vendor For Your Business
5 Tips To Identify The Right Dropshipping Vendor For Your Business

The drop shipping business is all the rage today in India. The number of drop shipping businesses is increasing with each passing day in India. And courtesy of its raising popularity, starting a dropshipping business in India is proving to be extremely profitable too.

Starting a drop-shipping business is a brilliant low investment startup plan.  So, whether you are an entrepreneur who wants to work upon this brilliant idea or someone who has got everything planned there is one thing you should know- how to choose vendors?

As drop-shippers do not believe in marketing themselves, finding the right dropship suppliers can be a difficult task to do. If you are an entrepreneur with an e-Commerce business finding an ideal vendor might take a while.

Here are few steps that will help every entrepreneur and small business owner to identify the right vendor for their business:

1. Research

Research is that one thing without which no startup business ideas can thrive. So once you have decided upon the range of your products that you would like to sell, start researching the drop-shipping suppliers in the market. Make a list of your requirements and then see who fits the bill.

You might also have to choose between the local and overseas supplier, in case you are not just catering to customers in the country, but also outside India. While selecting a vendor, dive deep into raw material sourcing, delivery times, and service potential.

2. Contact Suppliers

The next step that comes after finding the ideal vendor is to contact them. Talking to them gives you a chance to resolve all your queries by asking questions. They may even provide you with their customers` feedback. Also, if you maintain good relation with your vendor from the start, it will help you to build trust and credibility. This will also provide more room to get disputes resolved more quickly.

3. How Upgrade the Supplier is with Technology?

Though many drop-shipping suppliers generally have outdated websites, an ideal drop-shipping vendor invests in technology to stay updated with the latest trend. It helps him to streamline client operations and increases his value in the market. Features like searchable order history, customizable data feeds, and a detailed product catalog make things convenient for online merchants.

Some vendors might also give you the facility to place your order online via mail. Though it might sound like a small benefit, it is a boon for luxury store owners. All you have to do is to mail him and your order is placed. Hassle-free!

4. Test Services by Placing Order Samples

Once you have shortlisted 2-3 drop-shipping vendors, order a few samples from them to see the quality of their services. From service, packaging, delivery times, and other supplier-related questions that you might have, ordering a sample will give you an idea and help you selecting suppliers. It also gives you first-hand experience of how your customer will experience your store.

5. Order From your Competition

If your competition is also using the same drop-shipping vendor, you can order from your competition and find out how your vendor packages their products. You can also check if they are providing your competition any custom labeling services. This will give you the much-needed insight into how your competitors are providing their customers a ‘WOW Experience’.

While selecting the right drop-shipping vendor, many will look great when you look at their reviews and the products that they offer. But once you take one step down, you might realize that they may not suit your audience because of the raw materials that they use or the way they do their business, or how they handle returns.

Hence, always talk to your vendors and get to know them like the back of your hand before you commit to doing business with them. The tips that we have mentioned above will certainly help you to choose the right dropshipping vendor for your business.

To read more such articles, visit www.badabusiness.com.

Categories
Business motivation Startup

Cofounder or No Founder? Two Fundamental Rules For Entrepreneurs To Find The Right One!

Two Fundamental Rules for Entrepreneurs to Find the Right Cofounder for Startup!
Two Fundamental Rules for Entrepreneurs to Find the Right Cofounder for Startup!

India has more than 30,000 startups, making it one of the leading startup ecosystems in the world. A key common factor in all the startups is that they have two or more co-founders. While many amateur entrepreneurs feel that this is the ground rule to go about it, there are many solopreneurs like Paytm`s Vijay Shekhar Sharma, SHEROES` Sairee Chahal, CRED`s Kunal Shah, and Chai Point`s Amuleek Singh Bijral who are doing well, while riding solo.

Apart from selecting a brilliant startup business idea, another factor that often confuses Indian entrepreneurs is—choosing the right cofounder!

Choosing the right co-founder is like choosing the right partner for marriage. It is one of the important decisions you have to make not just for your startup but also for your overall startup journey. It is not a surprise that people spend more time together with their cofounder than with their actual spouse.

However, just as a lot of marriages end in divorce, the interpersonal conflict between the partners is the second or third most common reason for startup failure.

Even though the decision to find or not to find a co-founder is tough, making a startup work on your own is much more difficult.

So, if you are a budding entrepreneur and in a dilemma, whether you should go solo or choose a cofounder, let us help you out. According to a report by startup investment fund First Round, “teams that have cofounders performed better than the solo founders by a whopping 163%.”

Finding a co-founder has three major benefits:

  1. When you have a partner who is equally focused on the same goal, the overwhelming workload gets divided which is required to make a new venture successful.
  2. Motivation and accountability to each other.
  3. Two heads are always better than one as it provides a unique point-of-view from a person who is equally invested in the project.

But how should you find the right partner for your startup business? Here are two major rules you should follow to find the right person for your venture:

1. Ensure That Your Values & Expectations Are Aligned

The best person to start your venture with could be your ex-colleague because you already have experience working together. However, if your skills match with your college friends, they could be your ideal co-founder.

If you do not have people in your immediate circle who would like to embark on the journey with you, don`t lose hope. You should let everyone in your network that you are looking for people who can help you turn your startup business ideas into a full flourishing venture.

If this too does not work out, you can start working upon a fantastic startup business plan on your own. Be active in your group of networking, and always keep your eyes wide open to look for people who could be a good fit. There might be a possibility that co-founders will join you at a later stage.

Once you do, make sure that you get to know each other as fast as possible. Don`t just share and discuss ideas, but also talk about ideologies and values. Ensure that you both are on the same page when it comes to working. Clarity is the power! Hence, it is best to discuss and share these things as quickly as possible to avoid major problems that could arise in the future.

2. Make Sure your Skills Complement Each Other

There is a cliché that each startup tech needs at least a hacker and a hustler. So whether you are looking for an employee or a co-founder, the key is to find one of the two if you are the other. For instance, if you are a marketing team, make sure that you attract high-quality technical talent to your venture. You can also hire consultants if you can afford to.

Or if you are a technical person, then you must realize that you will need someone to sell your product and idea to have a chance of success. One of you will have to stay in contact with the stakeholders all the time.

In short, always look for someone who complements your skills and aligns with your values and long-term business planning goals.

Owing a business is incredibly rewarding, but to keep it up and running needs professional expertise if you are an amateur. To know how to build a startup from the scratch, you can take the ‘Entrepreneurship  Course’ to gain in-depth knowledge about different aspects of the business.