Month: October 2021

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Motivational

7 Essential Traits For All Successful Entrepreneurs

7 Essential Traits For All Successful Entrepreneurs
7 Essential Traits For All Successful Entrepreneurs

Vision, focus, and determination- these three qualities can take entrepreneurs anywhere they want to go. They also have good leadership skills and can be a great motivational coach to peers around them.

Whether it is the most respected industrialist like RatanTata or a great businessman like Dhirubhai Ambani, every successful entrepreneur has a few critical attributes that can help thousands of business leaders, as well as the young entrepreneurs of India, succeed.

Here is a list of 7 essential traits that every entrepreneur must have to be successful:

1. Problem Solving

One of the most essential qualities that every entrepreneur who is planning to start a startup business must have is the ability to solve problems. “Having a mindset that is capable to think critically about various issues at hand is an amazing trait”, says Dr. Vivek Bindra- one of the most popular business motivational speakers in India.

The most successful entrepreneurs always go above and beyond to find solutions and get their job done while keeping calm under pressure.

2. Impeccable Communication

As an entrepreneur, you are required to meet new people for networking purposes and other requirements. You will accomplish little to nothing if you lack good communication skills. It is necessary to express oneself clearly and concisely, which can often make the difference between an ordinary and extraordinarily professional.  If you are an introvert, you can also take professional help from a business coach to excel in this as well as other departments.

3. Determination to become Successful

Failure is the stepping stone to success. And only those who have tasted the failure with a pinch of salt can appreciate—determination. Running a business does not necessarily mean that everything will be all rosy. There will be setbacks, challenges, and hurdles too. But a successful entrepreneur does not let anything stop them from achieving their goals.

It does not matter how many times an entrepreneur fails, his determination to succeed overpowers each failure and makes it appear like a minor setback.

4. Hunger to Keep Learning

The world of business is always evolving. Sometimes it’s a new tool, other times it’s a new technology that can help a business to grow. A successful entrepreneur keeps himself updated with the latest trends and networks with like-minded people to form professional relationships.

To be successful in your niche, take some time each week to reflect on what new they have learned about the business industry. Also, decide if there is any way that you can implement this new piece of knowledge into your business for growth. With continuous learning, you can get closer to your organizational goals.

5. Powerful Leadership Skills

While leadership attributes are important for everyone, they become necessary for entrepreneurs who are running their businesses. If an entrepreneur lacks leadership skills, his or her team will not be able to perform to the best of their capabilities.

6. Passion & Ambition

Passion and ambition are what drives an entrepreneur to do what they do every day. Starting a startup involves a lot of risks and is not for the faint-hearted. This is why entrepreneurs need to be passionate about what they are doing.

7. Ability to Look at a Larger Picture

To launch a new product or service, extensive research is required. Sometimes in this process, disregarding assumptions about what currently exists in the market is necessary. To meet the expectations and demands of consumers, it is necessary to shake off the traditional pattern and embrace innovative products, even if it means unlearning current beliefs.

Life doesn`t always go according to the plan, but there are plenty of ways to achieve desired results with consistency, persistence, and perseverance. If you want to be a successful entrepreneur you need to cultivate these traits within you.

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 an exclusive Business Coaching Program for Entrepreneurs that comes with Foundation courses, specialized courses, and value-added courses.

Grow through self-learning and see your website traffic increasing with marketing collateral designed especially for you. Learn more here www.badabusiness.com

Categories
Motivational

7 Brilliant Ways A Corporate Trainer Can Boost Team Performance

7 Brilliant Ways A Corporate Trainer Can Boost Team Performance
7 Brilliant Ways A Corporate Trainer Can Boost Team Performance

Growth and development are the foundation of every organization. This also includes the area of employee development as well. As manpower is the backbone of any company, it is crucial to upskill and upgrade them through regular training by the best corporate trainers in India.

When employees attend corporate training sessions regularly, they become more productive and efficient. Many organizations want to build a high-performing team, however, they do not want to spend on corporate training.

But truth be told, a corporate trainer in India can help your employees to stay motivated and more productive. Here are four major reasons why should you make corporate training a priority:

1. Upgrades Employees

The right corporate trainer can give employees the skills they need to take on a new role. Programs like onboarding and mandatory training are usually offered to new employees or existing candidates that get promoted to a more challenging position. When employees receive training on foundational skills, they perform better. They can bring more to the table and boost your business revenue.

2. Exposes Gaps in the Business

Regular corporate training in the organization creates awareness in your employees. A corporate trainer can help the leadership and management to identify the various gaps in their organization. Once identified, it becomes easy to improve them. It will also help your employees to overcome them with proper training.

3. Helps to Retain Best Employees

When employees realize that there are growth opportunities for them in an organization they tend to stay back and work efficiently. According to a Deloitte report, “42% of employees looking for a new job often say that their existing employer is not maximizing their skills and abilities.  As there are multiple corporate training programs, some training programs prepare your employees for leadership positions as well.

4. Keep up with the Industry trends

Industries are always evolving. Hence, every business needs to keep up with the changing trends to stay in the league.  A corporate trainer ensures that every department of your organization stays up to date.

5. Motivate Employees & Enhance Performance

When the company invests in its manpower it motivates employees and creates a sense of belongingness. It brings a higher satisfaction in their job profile and helps to increase their productivity.

6. Develops Competence & Competitiveness

Due to increased competition job positions are getting harder to get. Hence, the demands and responsibilities in work are also shifting. A great corporate trainer can help employees sharpen their skills, enhance productivity, and stay updated with the changing trends. Refining their capabilities will make them proficient in their field and help them to adapt to the changing trends.

7. Identifies their weaknesses & Develops strength

Every individual has unique strengths and skills, but not many are aware of their abilities. The distinct personalities and the level of their productivity can impact an organization to a great extent. The best corporate trainer in India can help them identify the weakness of each individual.

Corporate training is the best investment an organization can make for its growth. Only those companies that are aware of the fact that the success of a business lies in its manpower grow tremendously.

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 an exclusive Business Coaching Program that comes with Foundation courses, specialized courses, and value-added courses.

Categories
Business motivation

4 Steps To Scale From A Hungry Solopreneur To A Successful Enterprise

4 Steps To Scale From A Hungry Solopreneur To A Successful Enterprise
4 Steps To Scale From A Hungry Solopreneur To A Successful Enterprise

Many entrepreneurs often start as solopreneurs. They conceive a money making business idea, work upon it and start a small startup all by themselves. They generally do not have any partners or staff to assist them with their business`s management and operations.

Where starting a new venture all on your own is an excellent thing, handling multiple operations alone can be tricky as well. Eventually, it will begin to take a toll depending on the circumstances. As solopreneurs don`t have any partners, they do not have to consult with a partner before making decisions and owning their entire company.

But solopreneurs can`t sustain themselves in the long run, if they wish to grow. Eventually, there comes a point when you want to scale your business, and it becomes impossible to do so unless you hire more help.

Being a solopreneur how can you ensure that you achieve your business goals? Here are the top 5 key pillars that can turn your startup business into an unstoppable enterprise:

1. Build a Unique Product or Service

Solopreneurs try to don multiple hats at one time. Aside from handling their business, they must focus on creating a unique product or a service that will resolve the problems of consumers. Building a product that a customer would want to purchase is quite essential for a business`s growth. But as solopreneurs have so many other things to focus on, it becomes quite difficult for them.

These distractions make it difficult for solopreneurs to conduct the proper research needed to learn what their potential customers are demanding. If you are selling products, it is okay to hire manufacturers who can create products on a contractual basis. And if it is a service that you are offering, try to give your best shot and make your customers extremely happy.

2. Hiring & Outsourcing

One of the reasons due to which Solopreneurs prefer to do everything on their own is because of their tight budget. They don`t want to hire staff simply because they can`t afford them. If you too feel the same more or less then you will end up stressing yourself with too many responsibilities. Instead of becoming your marketer, accountant, tax advisor, and customer service outsource it.

There is nothing wrong with working 12 hours a day, but once your business starts making money, you should hire additional workers to help you. You could start with hiring freelancers, part-time employees, or full-time employees. You can start with one freelancer and gradually hire more people as your small startup business begins to grow.

3. Invest in a CRM System

A customer is the backbone of any business. And being a solopreneur it becomes more essential to stay equipped with a good CRM system so that you can tackle all your customer queries and orders. Building a strong relationship with your customers is how you get repeat business. But if you decide to manage everything on your own, it will become nearly impossible to answer all their questions and orders.

As a solopreneur, you will need all the assistance that you can get in that department. That is why a customer relationship system is an invaluable asset to bring into your company.

4. Try Fast & Easy Marketing Techniques

To save time as a solopreneur, automated marketing is the best way. Though many experts will ask you to post classified ads and blog messages, these methods are time-consuming and require effective strategies.

You will have trouble devoting each day to marketing because you will have multiple tasks to do as a solopreneur. Hence, it is best to invest in fast and easy marketing techniques so that you can build a strong online presence for your business.

Being a solopreneur is not an easy task. Starting a small startup business from the scratch and running it requires hard work, dedication, and passion. Hence, apply the above-mentioned strategies to turn your startup into a successful enterprise.

When handling a business all along, you get to reduce expenses; you get to make sure you’re focused only on your core business, and not management issues that crop up with teams; and of course, your vision is yours to implement without depending on others.

But there are disadvantages too – without a team to delegate tasks to, how can you make sure you’ve got everything covered? With our Business Coaching Program, you can accomplish all that you want. To know more about it, visit: www.badabusiness.com

Categories
Business motivation

Never Buy A Franchise Before Asking These 5 Crucial Questions

Never Buy A Franchise Before Asking These 5 Crucial Questions
Never Buy A Franchise Before Asking These 5 Crucial Questions

Many people want to start their own business, but either doesn`t have a startup business idea or lack the entrepreneurial vision. A franchise business in India is one of the most feasible options for those who don`t want to start a business from the scratch.

Purchasing and operating a franchise is easy and is similar to coloring inside of the lines. Brands that are well established and have a strong presence already have a niche market. So, if you don`t have a problem selling burgers that are made by someone else, a franchise business may be just the ticket for you.

But the universe of a franchise is broad and diverse. It has arguably more than thousands of options, which is both good and bad news. So many choices often result in confusion and lots of intimidation.

Though franchise business in India offers a new yet practiced way of doing business, there are multiple things you should clear before choosing any franchise business.

Every year, a lot of entrepreneurs enter into a franchise business for the first time. But very few achieve success. So how will you decide which franchise is good for you?

Here are 5 questions that you must ask before investing your money in a franchise:

1. How much do I invest before entertaining customers

You may find the initial charges and investment-related information on the company website or franchise brochure, but you might incur various other costs afterward. Hence, you should ask about the initial investment in details apart from the basic information. Ask them about real estate, equipment, leases, etc.

Always ensure that you discuss these terms in detail with the franchisor so that you have a clear picture of your investment and your financial requirements to get up and running.

2. What changes did they make to support their franchises through COVID-19?

Two years ago, asking this question wouldn`t have come even in the existence. But now we are living in a changing world. Thus, you need to ask them how they supported their franchises throughout COVID-19. Knowing how things went in the worst of times will give you clear insights into how things might go in the best of times or amidst any other crisis.

Many good franchisors went out of their way to support their franchisees. Some even waived off their fees and helped them obtain paycheck-protection-program funding along with making them updated with new technology.

3. What sets your brand apart from its competition?

Competition is a part of any business. However, it is important to understand what makes one brand different from the rest. For instance, if you are thinking about buying a fitness franchise, you will want to understand what sets this brand apart from the crowd and what concept do they have as a brand. As it is your money that you want to invest, think twice before you invest. Make it a point that you understand the business model and value proposition of franchise businesses in India.

4. What is your failure rate? How many franchises have closed and why?

Even the most popular franchise brands have their franchisees closed due to one reason or another. In some cases, it’s the franchisee`s fault as they did not have the required skill set or could not adhere to the system. But in many cases, it’s the franchisor`s fault. It could be insufficient training or an inefficient business model.

As no one wants to invest in a bad business model this is why it is important to examine a brand`s failures no matter who was at fault.

5. Are there any Financial Incentives or Deals?

Franchisees often hesitate to talk about monetary incentives or deals. Many franchisors offer discounts on the franchise fee. They also offer to waive off the royalty fee for a few months to help the business take off.  So before you decide to invest in a franchise business in India, ask your franchisor whether they assist you in lease negotiations, site selection, etc.? What support staff will be accessible to you and in what other ways they will assist you beyond providing initial training?

Franchise business in India often comes with less risk than starting a business from scratch and offers a path that can lead to success and profitability. However, it is important to ask the above-mentioned questions and many other things to ensure that you are putting your money in the right direction.

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.

From finance to HR, Digital Marketing to IT & Sales, find creative solutions to prominent business problems easily with our Business Coaching Program. Click here to know how this exclusive course will benefit you: www.badabusiness.com

Categories
Business motivation

How Bad Mental Health Affects Your Business Growth?

How Bad Mental Health Affects Your Business Growth?
How Bad Mental Health Affects Your Business Growth?

Setting up and running a small startup business tends to be thought of as a glitzy affair. Many people are coming up with money-making ideas and want to turn them into a reality because they believe being an entrepreneur will provide them with larger-than-life experiences.

A lot of people see the enriching lives of many entrepreneurs on social media who show off their “freedom, independence and grandeur”. However, the truth is divorced from the complete reality. People often fail to understand that this kind of life makes up a very small minority of entrepreneurs.

According to a report by https://www.ncbi.nlm.nih.gov, “financial distress is the major cause of poor mental health of small business entrepreneurs”. Many entrepreneurs also report a lifetime history of ADHD, depression, substance use, and bipolar diagnosis. The constant fear of failure, managing finances, workforce management, and pressure to perform are some of the other crucial factors that are experienced by growth-ready Indian entrepreneurs.

It results in low productivity, absenteeism, zero focus, and no motivation that can leave a negative impact on any startup business.

Being an entrepreneur isn`t just about waking up on a remote island and sending out a few emails before hopping on a private jet to a foreign country. Running a small startup business is a daily grind even for those who have established a strong presence of their company and have turned it into a money-making revenue machine.

So how can entrepreneurs keep their sanity intact and protect their mental health throughout the stressful, yet rewarding journey of building their own business? Here are a few ways:

1. Keep your Finances in Check

Financial issues are reported to be the primary reason behind anyone`s mental stress and anxiety, especially among entrepreneurs. Some people start on a very small scale. Some take a loan for their startup business and others invest their entire savings into their dream startup with nothing to fall back on.

According to a report by smallbizgenius.net, around 39% of small business owners use cash to fund their startup, which puts them at risk, if the business fails.

The journey of establishing a startup business is stressful enough. And it is not smart to put everything into a basket that fails 90% of the time. Hence, it is crucial to ensure that you have financial support to live on for at least three to six months should anything goes wrong.

If that is not possible, you can also take up a part-time job that allows for flexible working hours. Another thing you can do to ensure your financial support is to have an alternate source of income. The biggest takeaway for any entrepreneur is to try and leave as much money on the table to take care of your things.

You can also take the help of a professional business coach that can guide you in starting up, setting up, and running a business from the scratch.

2. Learn to Delegate

Trying to do everything on your own is another way to overburden yourself with stress and work. Even if you feel that your startup has not reached up to that level where you can hire full-time employees, you can outsource certain tasks. There are endless resources available to help you with it.

Learn to delegate as it is quite essential for smooth operations. Even the best business motivational speaker in India like Dr. Vivek Bindra suggests delegation of work because burnout can happen very quickly when a business is at its initial stage.

You can also opt-in for a business partner to avoid crumbling down under the pressure of too much workload. Your business partner would be an expert in some areas of the company. His or her expertise can take a certain amount of pressure off your mind. He or she can also drive the business forward with their professional experience and expertise.

3. Stay in Touch with the Right People

Whenever anyone decides to start something unconventional, they must surround themselves with positive influences. You might be having an excellent money-making business idea, but your friends and a family member might not agree. There will be some people including your friends and family members that will question your decision.

They might also ask you to go back to corporate life with a steady paycheck for a more stable life. But remember, they come from a position of care and love. However, they are not entrepreneurs.

Surround yourself with business mentors who have been successful as entrepreneurs. You can seek advice and guidance from them through the beginning of the start-up journey and try to continue flourishing that relationship. It will also help you to expand a professional network as your business starts growing.

Mental health can easily deteriorate with stressful conditions, pushing oneself to the point of burnout, and with wrong people giving the wrong advice. Running a startup business successfully is essential, but taking care of your mental health is crucial. Following the above tips and frequently staying in touch with one`s emotions will help to ensure your mental wellbeing is in good shape.

Are you looking to find solutions for your burning problems? Get practical solutions easily with our Business Coaching Program that will help you grow your business with step-by-step learning strategies, action plans, frameworks that are designed to empower you with various business functions.

To know more about this course, visit: www.badabusiness.com

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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
Startup

5 Effective Steps To Start Your Dream Business In Small Towns!

5 Effective Steps To Start Your Dream Business In Small Towns
5 Effective Steps To Start Your Dream Business In Small Towns

Are you someone from a small city of India, who has big dreams and innovative business ideas designed for small towns? Though with determination and passion anything can be possible, it can be hard to figure out from where to start with a small-town business idea.

There are many types of entrepreneurs. Where some want to start their own small startup business in their hometown purely out of a passion for what they are doing, others want to resolve a problem that they have just figured out in the marketplace.

So whether you want to start a dance studio, wellness center, or simply a business consulting firm, starting a new venture can be immensely intimidating. For those who want to start anything new in the small Indian towns—how can you ensure that you do it right?

1. Create Your List

Anyone who is planning to start a startup identifying a gap in a small town is as simple as a Google search followed by taking a walk. To start your own small business in your town will require in-depth research. And if you can take a business coaching program customized according to your needs, the road will become quite smooth.

Check out the local businesses that could be your competitors and observe what they are offering to the customers and where they are lacking.

If you don`t stay in the town where you are planning to open a small startup business, spend a weekend there. There might be restaurants with a full-fledged menu, but not a small café that exudes cozy vibes, hardware, and a beauty shop, but what else would you be interested in having there?

How can you provide a solution to the locals through your product or service will give you a great idea to come out with a great startup business plan.

2. Find out the other side

Once you have made your list, that`s just the beginning. Creating a list on your own is just one perspective. This brings us to the next step- asking the customer what it wants! Take a walk, greet, meet, and talk with random people. Ask them about their burning problems. Do they have to go far to buy fresh vegetables or do they love quality organic food, but don`t have a café that serves it?

Don`t just ask a group of people; ask as many people as you can. You can carry this task by driving around the high-traffic areas and spending a couple of hours asking questions and recording their replies. You will be surprised to hear the same ideas repeat.

By talking to a lot of people, you will also begin to build connections and relationships that might come in handy and will speed up the process of launching your startup business in small cities.

3. Figure Out the Gap Best For Your Business

Whether you are an independent business consultant looking to open your consulting services or a baker who wants to run her bakery, you need to make a list of businesses that will make sense for you.

For instance, maybe you have everything that is required to open a bakery shop, but you don`t want to open it. In that case, it is completely okay to cross it off the list. The aim is to find the three objectives that fit the 3 criteria:

a). What does your town or city need?

b). What do you enjoy the most?

c). What would you like to do

All you need to do is align these 3 things and you are on your way.

4. Protect Your Downside

Now that you have asked a lot of questions, created a list, and know which business you would like to start, it is time to ask structural questions to evaluate and validate the idea. One must find out and address all the challenges before launching a business through various questions.

Can you start on a smaller scale? Can you take a small place on rent instead of taking over an entire spot yourself? Can you get customers to sign up ahead of time?

If you find out that there are more challenges than you are comfortable with taking on then either you need to find out a better solution or head back to your list to fill the gap. If you have figured yours, addressed it why it wouldn’t work and you are still ready to move forward that brings us to the next step.

5. Startup Business Plan

If you have decided to move forward with your business plan, you might need to come up with a full startup business plan. Thanks to all the work that you have done earlier, you can create a great business plan, quickly.

So iron out an interesting business plan and always remember that it is a dynamic document. It keeps evolving and improvising. Find the gaps, refine the gaps, figure out what is best for you, manage downside risk, plan & execute.

Find the gaps, refine the gaps and figure out what will be the best for you and your niche market. To understand the dynamics of the business market, you can also join business coaching program for entrepreneurs. Learn from the industry leaders to understand how you can start a startup and run it successfully.

To know more about this course, visit www.badabusiness.com

Categories
Strategy

5 Time Management Secrets Of Successful Entrepreneurs

5 Time Management Secrets of Successful Entrepreneurs
5 Time Management Secrets of Successful Entrepreneurs

Serious goal settings require an unblinking focus on managing time effectively and it is one of the most powerful skills that can help you to attain success. In the absence of it reaching your goals will be impossible!

You can make some progress, but handling your tasks will be an uphill battle if you don`t take your time seriously.

Time is the greatest asset. If you invest in it smartly, your life will be transformed irrespective of your age, religion, caste, creed, occupation, and gender. So if you are serious about achieving your goals, you should find good time management and work upon it.

The foremost important thing is to achieve some balance in your professional and personal life. If you are looking for some of the most effective time management skills, here is a list:

1. Set Goals

Not having a goal simply means driving without knowing your destination. If you don`t set a goal, then you will lack the proper targets due to which you will fall off track. But when you set them the right way, the sky is the limit. Use the smart goal technique to sort your professional and personal goals to see things through. This video would help you to set a clear focus on your goals:

2. Find a Good Time Management System

To maximize your productivity, finding a good time management system is very crucial. There are many time management systems like The Parkinson`s Law, 1-3-5 Law, the quadrant time-management system, and a lot more.  These systems can help you sort your time effectively and can help you increase your productivity.

3. Spend Mornings on MIT’s

Mark Twain once said, “if it is your job to eat a frog, it is best to do it first thing in the morning. And if it is your job to eat 2 frogs, it is best to eat the biggest one”. His point? Tackle the most important tasks in the morning that needs your complete focus and creativity. Accomplishing these tasks will give you a sense of achievement.

4. Take Breaks When Working

While many organizations endorse the culture of working continuously, round-the-clock, it is one of the most toxic traits that can hamper your productivity as well as your mental peace. Take frequent breaks is essential as it boosts your creativity and productivity. According to a study you should work for 52 minutes and take a break for 17. And if you are an entrepreneur who is working for yourself, this becomes even more crucial.

5. Prepare to-do lists in advance for the next day

Make a list for the next day every single evening before hitting the bed. Writing down all the activities in your list gives you time to plan for your day in advance. It helps you prioritize your tasks and finish them on time.

Time management is a must-have skill for every entrepreneur as it brings a harmonious balance between work and personal life. Where carrying out daily tasks successfully ensures a bright future, maintaining a personal life is also vital for well-being.

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Strategy

5 Smart Strategies To Give Your Seasonal Business An Off-Season Boost!

5 Practical Ways To Give Your Seasonal Business An Off-Season Boost!
5 Practical Ways To Give Your Seasonal Business An Off-Season Boost!

Whether it’s a rush of rustling leaves, or the cold days and nights during winters, kites flying competition in August, or nights bedazzled by bustling crackers, seasonal businesses are often faced with the challenge of generating a recurring revenue stream throughout the year.

But, if you can think beyond the obvious, you might find multiple ways to keep the cash coming in all year round. How? With your creative thinking!

To save your business from becoming cash-strapped during the off-season, you will have to think above the ordinary, learn more about your customers, and test new ideas—even if they are a little unconventional.

You can also watch 10 effective strategies by the best motivational speaker in India by Dr. Vivek Bindra here:

Here are five ways that might look simple but are super impactful when it comes to boosting your business even during the off-season:

1. Extend Your Season

One of the biggest mistakes by small startup businesses offering seasonal products generally make is that they start selling their products or services only when their season kicks off. Kicking off your marketing earlier can broaden your selling season and will generate revenue.

Another thing that business owners should never do is to hold sales and promotions immediately after the season is closed. Selling your products even after the season ends can make your season last longer.

2. Generate Off-season Excitement

Just because people burst crackers only in Diwali or fly kite only in August on Independence Day and in February to celebrate Makar Sankranti, doesn’t mean you can`t get your audience excited about your business.

Try to make content and play upon building the excitement about your products by providing early bird offers, off-season discounts or launch a new line of products, before the season. This will make your audience excitedly planning for the time they can take advantage of your products and services again.

3. Look for Niche Markets

Seasonal businesses can often find income supplements serving niche markets. For instance, a bakery that bakes birthday and anniversary cakes during a peak or tourist season may also find success even in the slow months by baking products that sell evenly during a year to a smaller audience. If you have started a bakery, you can add gluten-free brownies, loaves of bread, and various other sugar-free products.

When you make the majority of your income during a season, you can supplement it by finding a smaller market with a need that is seasonless. You can also develop a specialized product to expand your sales.

4. Go Where the Season Is

Raj Kumar a small business owner has a store based in Karol Bagh. He has a business selling woolen track pants that are best suited to combat the winter chills in Delhi. But during the slow summer months, he began to notice a stream of orders from colder regions within and outside India, where winter was always in full effect.

As he began to explore the other market in different regions, it made up as much as 70 percent of all orders from March through August. So if you have a business of seasonal products, you can explore the other markets across the country that will help you to generate more and steady revenues.

5. Add Complimentary Products & Services

One of the best ways to make your seasonal business work throughout the year is to add up new products and services to serve the various other seasonal needs of your customers. If you have a store of woolen coats, you can add up a new line of blazers that can be worn in summers too.

Today, many organizations have fixed a dress code and cotton blazers are in great demand too. You can start offering cotton blazers to your customers and ensure a well-performing business throughout the year.

The above-mentioned strategies will help you increase you’re your business sales during the off-season. You can also watch the most informative video by Dr. Vivek Bindra, the best motivational speaker of India in which he explains 10 strategies to boost your business sales even during the off-season.

The idea of managing the 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 an exclusive Business Coaching Program that comes with Foundation courses, specialized courses, and value-added courses.

With the help of a personalized business coach, you can get your marketing game back on track. Grow through self-learning and see your website traffic increasing with marketing collateral designed especially for you. Learn more here about the course: www.badabusiness.com.