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Business Case Studies

How E-Commerce Marketplace is Redefining the Industry?

E-Commerce Marketplace

Introduction

  • What is E-commerce Marketplace?
  • What are its advantages and disadvantages?
  • Are you planning to take your business on the E-commerce platform?

India is the 3rd largest E-commerce market in the world after China and the United States of America, and in the next few years, e-commerce marketplace in India is set to surpass that of the USA.

What is E-commerce and How it Grows

It is the most innovative way of doing business without establishing any physical store around the world. It has seamless potential to “expand your business as swiftly as never before”.

E-commerce marketplace is an online platform to sell products to customers all over the world without any physical barrier around the clock.

It not only increases your sales but reduces cost drastically.

It helps you in:

  • Fast selling of goods and services.
  • Reach out to a huge customer base.
  • Less investment in marketing and sales promotion.
  • Fast supply chain and electronic funds transfer mechanism.

Advantages of E-commerce Marketplace Services

1: Engage with your Customers
With more and more people coming on an online platform, your presence on the internet “builds a healthy relationship with customers”, which imbibes trust among them towards your products and services.

2: Windfall Gain of New Customers

In the traditional business model, only selected people, who know you personally or who reside in the vicinity, purchase from your shop, while on the online market platform “the whole world is your market”.

Today, anybody can purchase your product from any corner of the world on figure tips.

3: Saving on Operational Cost

Here, the whole business is built on “web management system” with automatic inventory calculators, which “saves your cost on manpower”.

Now, you don’t need teller, accountant, and office building to accommodate your business.

4: Data-Driven Selling

In the traditional business model, you are unable to understand the needs of your customers.

However, in the online market place, you can understand the buying habits of your customers through data-driven traffic.

5: Digital Branding is Fast and Cost Effective

As compared to TV, Radio, Print adds, digital branding is fast and cost-effective.

You just need to “develop your digital marketing team” to beat big brands.

6: Digital Sales Pitching vs. Physical Sales Pitching

There is a greater chance of human error in the sales mechanism of the traditional business model; while in digital sales pitching you can give perfect information without any error.

The online platform provides an opportunity to “showcase products with unlimited details and visual presentation”.

7: Re-Marketing and Re-Targeting in a Boundary Less Market

It’s a barrier-free market where a person can visit anytime, anywhere even if he/she doesn’t intend to purchase a product.

The online market place is so efficient that even if a customer doesn’t purchase your product, you can “re-market” and “re-target” your products to that particular customer through various Google tools and increase your visibility.

But it is not possible at physical stores.

8: 24/7 Potential Real Income

A physical shop cannot remain open for 24 hours, while the digital platform is available 24 x 7, where customers can buy products any time from any place.

9: International Profitable Scalability

You can expand your business seamlessly at lightning speed across the globe through an E-commerce marketplace.

You can increase your profit as you can decide your margin and scale-up it without opening a physical store.

10: Affordable Employees and Affordable IT Infrastructure

The online market place doesn’t need an actual office as it can be operated from a virtual office.

You can engage people from any corner of the country through a virtual office, without investing heavily on salary, office and administrative cost.

11: Fast Order Processing Despite Huge Market Place

A physical store has limited capacity to accommodate customers at a single point of time, but in E-commerce, you can attend any number of customers simultaneously.

Moreover, people have the tendency to purchase from big market place instead of a small physical store with limited choices.

Challenges in E-Commerce Marketplace

1: Site Crash

Due to technical problems and external attacks, your website can break down anytime during a transaction, which may affect your business and customer base.

2: Customers can’t try before they buy

Before buying a product, a customer wants to try it physically which is impossible on an online platform.

This problem can be resolved by showcasing your product through graphical and visual presentation.

3: Customer can be Impatient if there is Limited Information

At a physical store, customer can ask as many questions as he wants to know about a product before buying, which has been a shortcoming of the online marketplace.

4: Shipping Delays can be Irritating

Many times online market place suffers a delay in shipping due to the logistic process or unavailability of products which leads to a decrease in customer satisfaction.

5: Constantly Upkeep Technology and Inventory

An E-commerce marketplace should have constant up-gradation of software to make the shopping experience more smooth and convenient.

6: High Competition, Low Margin, and Marketplace Fee

Many times you need to decrease your margin profit due to high competition. You also have to pay a fee to marketplace on the sale of products.

7: Limited Control in Other’s House

Here, you have little control over e-commerce marketplace services as your products are sold by someone else’s platform.

Categories
Finance Process & Business Expansion Startup Strategy

Emergency Credit Facility Under ECLGS for Small Businesses Hiked From Rs 25 Crore to Rs 50 Crore, NCGTC Modifies Operational Guidelines

MSME (Photo Credits:
Emergency Credit Facility Under ECLG for small businesses hiked from Rs 25 crore to Rs 50 crore by NCGTC. | Representational Image.

New Delhi, August 12: The National Credit Guarantee Trustee Company Ltd (NCGTC) on Wednesday issued a circular regarding the modification of operational guidelines for Emergency Credit Line Guarantee Scheme (ECLGS). The common trustee company informed that the new operational guidelines will now cover individuals and more enterprises amid the COVID-19 pandemic.

Informing about the minutes of the modification of operational guidelines for ECLGS, the NCGTC stated that the upper ceiling of loans — outstanding as on February 2, 2020 — has been increased under the scheme from Rs 25 crore to Rs 50 crore. Apart from this, there has been a hike in the upper ceiling of annual turnover from Rs 100 crore to Rs 250 crore. This has been done in line with the increased ceiling of loans outstanding and revised definition of MSME issued by Union Ministry of MSME.

Among other details, the NCGTC circular stated that there has been an increase in the maximum amount of NCGTC to Member Lending Institutions (MLIs) under the ECLGS. The amount limit has been raised from Rs 5 crore — at present 20 per cent of Rs 25 crore — to Rs 10 crore, which is 20 per cent of Rs 50 crore. However, it has been made clear that those individual loans given for business purposes should fulfil the eligibility criteria prescribed under the scheme.

NCGTC Circular Regarding the Modification of Operational Guidelines for ECLGS:

Earlier on May 23, 2020, the NCGTC was set up by the Ministry of Finance’s Department of Financial Services as a common trustee company to manage and operate various credit guarantee trust funds. It was incorporated under the Indian Companies Act, 1956 on March 28, 2014, with a paid-up capital of Rs 10 crore.

Under the NCGTC, five trust funds currently operate:

1) Credit Guarantee Fund for Skill Development (CGFSD
2) Credit Guarantee Fund for Education loans (CGFEL)
3) Credit Guarantee Fund for Factoring (CGFF)
4) Credit Guarantee Fund for Micro Units (CGFMU)
5) Credit Guarantee Fund for Standup India (CGFSI)

The NCGTC was launched ECLGS on May 23, 2020, for all the financial institutions of India. Among the four key points, which differs it from other schemes include — 100 per cent credit guarantee, zero guarantee fee for banks and customers, pre-approved loans and minimum bank’s risk weight allocation. However, the scheme will continue till October 31, 2020, or till the time Rs 3 lakh crore of the loan amount is sanctioned. The NCGTC has also made it clear that borrowers must be GST registered wherever it is necessary.

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Startup Strategy

Startups From Home: 5 Business Ideas to Start From Home Amid COVID-19

Startup (Representational Image Only, Photo Credits: NeedPix.com)

Mumbai, August 12: The entire world is reeling under the effect of coronavirus, from businesses being shut, factories non-operational, to employees being handed over pink slips. The pandemic has bludgeoned economies worldwide, and the smallest of businesses have felt the heat. In a scenario, when thousands have gone jobless, we take a look at five business ideas which you can start from the comfort of your own home amid the coronavirus pandemic.

The best part is that these business ideas will require a minimum to no investments. So if you are wondering to start a business from home, here are a few ideas which you can consider.

Sale of Masks, Gloves, PPE

The demand for masks has skyrocketed after countries across the world said that it is an important preventive measure to curb the spread of COVID-19. In India too, all the states have imposed a strict fine in order to ensure that people are abiding by the rule. From being sold as a fashion accessory to a life-saving piece of safety equipment, there is a huge demand for selling masks.

In such a scenario, there is an opportunity, if you want to start a business dealing with the sale of masks, gloves, PPE suits or hand sanitizers.

Remote Tutor

As a result of the coronavirus pandemic, when schools are shut, students are facing the problem to complete their syllabus and struggling with doubts. Here lies a great opportunity for home tutors who can continue to teach their students from home via online classes. One just needs a good internet connection to start with online teaching.

Fitness Trainer

The pandemic has taken a toll on our lives, with additional workload both at the office and at home, people are being stressed. On top of it, fitness centres at several places continue to remain closed. If you are a fitness trainer, then you can start your online classes, be it yoga, power yoga or meditation from the convenience of your home.

Cooking Classes

There has been a huge demand for online cooking classes ever since the lockdown. Your friends, family members, office colleagues have all been experimenting with different dishes and have been putting it up on social media. Amid the coronavirus induced lockdown when people are still hesitating to go to restaurants, they have been making most of the dishes on their own. From experimenting with new cuisines to trying out new ingredients, there is a huge demand among the people to learn quick and healthy dishes.

If you have a knack in cooking or an expert in this area, there is a huge opportunity for you to start with your online cooking classes.

Freelance Writing and Copyrighting

You can take up freelance writing and copyrighting projects. Initially, the payment can be low, but once you build your own portfolio of work, you can start demanding a premium for your service.

So if you want to start something on your own, don’t delay your plan. These are some business ideas which you can start from the comfort and the convenience of your own home today amid the coronavirus pandemic.

 

Categories
Process & Business Expansion Sales Startup

Steps Taken by Modi Government to Give Relief to MSMEs, to Accelerate the Wheel of Economy That Slowed Down Due to Lockdown

Business in India | Representational Image Only (Photo Credits: Pexels)

The government has said that the recent steps that it has taken are aimed at giving relief to MSMEs which will in turn accelerate the wheel of economy in India. Union Minister for Micro, Small and Medium Enterprises Nitin Gadkari, during a webinar said that the changing the definition of MSMEs, Scheme of Fund of Funds, Champions portal, extended credits to MSMEs will certainly accelerate the wheels of economy which had slowed down due to lockdown in the wake of the coronavirus pandemic.

During his address, Gadkari informed that loans of about Rs 1,20,000 crore have been disbursed to MSMEs out of Rs 3 lakh crore announced in the relief package. Discussing about the problem of delayed payments, he said that instructions have been given to all Ministries, Departments and PSUs to clear pending bills of MSMEs within 45 days. He also urged all Chief Ministers to issue directions for clearing MSME dues by their State/UT Ministries/Deptts and PSUs on priority. The Minister added that we are closely monitoring the complaints lodged at SAMADHAN Portal also.

Gadkari said this while addressing a Virtual MSME Conclave organized by FICCI Karnataka State Council. The Minister further appealed to all the stakeholders to do away with all kinds of fear and negativity and assured that government is doing everything possible to make the country a super economic power. The Minister informed the participants of the webinar that we are working on the idea of a Land Bank and Social Micro Finance Institution which will be very helpful for entrepreneurs and persons who want to run small shops and businesses.

While discussing Atmanirbhar Bharat Abhiyan as envisaged by Prime Minister Narendra Modi, Gadkari said that handloom, handicrafts, khadi industries and agro-based industries should be encouraged especially in 115 aspirational districts in India. He said planning will be taken up for special policies for agricultural, rural and tribal sector because they have huge potential of creating employment.

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Finance Process & Business Expansion Startup Strategy

Innovative Ideas for Entrepreneurs to Keep Restaurant Startups Rolling Amid COVID-19 Pandemic

Apart from unique challenges, the COVID-19 brought fresh opportunities for India in the hospitality and allied sectors. Here are few ideas which entrepreneurs in restaurant startups can try to keep their businesses rolling.
Innovative Ideas for Businesses

Mumbai, August 11: With almost five months out of business due to the coronavirus lockdown, one of the worst-hit sectors in India is the food and restaurant businesses. While many startups opted for innovative ideas, others failed to survive the lockdown. India’s lockdown against COVID-19 is considered to be among the toughest, however, relief measures given by the central government did keep the hope alive.

Apart from unique challenges, the COVID-19 pandemic brought fresh opportunities for India in the hospitality and allied sectors. Many startups succumbed, but few thrive as they looked for a window to keep their businesses running. Use of social networking and personal relations still make those few reaping profits in adverse market conditions.

Here Are Some Ideas Which Helped Small Restaurant Businesses Survive:

1) Use of Social Media:

During the lockdown, the biggest challenge for a restaurant business is to connect with their customers. Social media became a boon for all those startups who remained in contact with their valued customers. Be it Facebook, Whatsapp, Twitter, Gmail or Instagram, these social media apps helped the small entrepreneurs to keep their businesses running.

Apart from providing the latest information regarding the renovations in restaurants to take away services, people came to know it from social media only — if their favourite dining places are open or closed. Also, updating the precautionary measures taken by the firm to keep its customers safe, did make a lot of difference.

2) Adaptations and Collaborations:

Adaptation to norms and guidelines issued by the administration did play a great part for startups. For example, Chaayos — which started in 2012 — joined hands with another influencer marketing platform called Pulpkey. Apart from serving the ‘signature “Meri Wali Chai“, they also decided to create awareness among people. For this, they hired renowned content creators and influencers and started sharing quality content straight to the customers’ mobiles via social media. Hence, Chaayos is still serving the ‘chai drinking nation’ with the same zeal and love.

3) Takeaway and Door-Step Delivery With COVID-19 Protection:

Foodies anywhere are foodies. Be it rain, dawn, dusk or midnight, foodies will order food online. However, the COVID-19 stopped the wheels of food-delivery guys for some time. Business took a hit and many wrapped up their shops.

With the Unlock guidelines issued, the wheels started to roll and food-delivery was again back on track. This time, the food delivery system was a little different. First, the delivery guys maintained a 6-feet distance and secondly hygiene maintenance was observed very strictly. The result was small entrepreneurs in the hotel business managed to survive. Special mentions to food warriors of Swiggy, Uber Eats and Zomato.

4) Marginal Charge for Hygiene:

This is something that customers in India don’t like. Since lockdown is in place and sit-in dining is almost restricted in most places, charging extra for take-away to door-step deliveries — by asking customers to pay for hygiene practices — may take not be a welcome move.

However, making valuable customers understand the importance of hygiene practices and costs associated with it, the gesture might help. These days customers are well aware of the dangers of COVID-19 and are willing to pay extra to cleanliness and hygiene. So looking at the broader prospect, the idea of charging a marginal fee for cleanliness may help entrepreneurs to keep their business functioning.

5) Financial Management and Revenue Generation:

Among all the other factors, the utmost requirement is to keep the startup moving forward with proper financial management skills. Due to the COVID-19 revenues of almost all food-allied entrepreneurs declined, some even bailed-out too. But few are still sustaining and may sustain for long as they have ample revenues for it.

For those, whose revenues are crippling and businesses are on the verge of shutting down, one of the easiest ways is to reach out to banks — which provides loans under MSME schemes at nominal interest rates and easy instalments. Reaching out for funds to family members and friends is another good idea.

6) Patience and Perseverance:

Difficulties and challenges are part of startups. COVID-19 may have seized the business ideas and expansion, but what’s important is entrepreneurs shall not lose hope and patience. They should keep inventing innovating ideas and persevere to reach their goals. Things may take a little time, but with calculative risks and patience, the flower of success will bloom.

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Powerful Personalities

The Best Sales Trainer In India

Learn How to Sell with the Best Sales Trainer in India.
Is it mastery over soft-skills or years of experience, or is there any other magic mantra to be the best sales trainer in India? Let’s dig deeper and find out how the top sales trainer in India teaches.

Businessmen these days have realized the importance of getting a sales trainer in their company. Companies may hire the best marketers, best IT personnel, top-notch managers, and eventually get the best product but, what good is the product if it is not getting sold? Sales professionals do try their best, but mere hard work cannot beat experience and sheer skills. That’s where a sales trainer comes into play.

Many studies have shown that only a few changes in the sales process, a few tricks in the conversation, and better soft skills can increase sales by many folds. This, in turn, not only boosts the morale of the whole company, but it also increases the resources available to make products better in the future.

Now that we have realized how important it is to boost sales, the question arises; how to do it?

Businesses spend money on hiring the best sales professionals who can deliver in real-time. But the competition in the market doesn’t give these sales professionals leisure to experiment with their methods and make their sales techniques better. What else is the option for businesses other than get a top sales trainer in India?

Though one can find many professionals, it is important to note that not all of them provide the same value. It takes a keen eye to choose the best sales trainer in India amongst a herd of many. What if that is not your expertise? What if you don’t know how to select the top sales trainer in India?

Do not worry. We have curated a list of characteristics that every best sales trainer must-have.

Characteristics that every top sales trainer in India must have:

1. Less Theoretical, More Practical

The one major difference between sales and other fields of businesses is that sales are more practically oriented. One cannot make sketches, write essays and build graphs to make a possible trajectory of how much sales a company is going to do in real-time.

For that, the company has to jump in the market and transact with real people. And that sums up why a top sales trainer in India must be less theoretical and more practical.

What good is a lesson in sales if the sales professional cannot apply its teachings with clients in meetings? Can a company make money if its sales professionals just sit in a closed room and write down how much money they will make?

A best sales trainer teaches in his class how to apply theoretical models in practical deals. Not only does it make the process easier for sales professionals, but it also reduces the period in which sales are done.

2. Guts To Experiment

As mentioned before, because they have to meet certain goals in a specific period of time, sales professionals can’t experiment with their techniques. However, a sales trainer doesn’t always have to meet goals the conventional way, he/she has the freedom to experiment with what others can’t do.

If a trainer always goes by conventional wisdom, he may teach how to get good sales done. But to get exponential growth, experimentation and using unorthodox methods is very necessary. If you find a sales professional who experiments with different sales techniques, chances are that person can be the best sales trainer in India one day.
3. Relatability Factor

Usually, a sales professional teaches various sales techniques by giving examples. But, what good are those examples if the sales professionals can’t relate to them?

Dr. Vivek Bindra, who is well known as the top sales trainer in India, always uses examples to get his point across easily. In these case studies, he considers real-life companies like Google, Facebook, Uber, and Oyo so that people can relate to the issues at hand.

4. Experience

Team meetings, seminars, and webinars are all good, but nothing can beat experience in the field. A best sales trainer must have years of experience in the market.

The only source of knowledge is experienced,’ when the famous scientist Albert Einstein said this, he may not have in mind that his words would benefit not only science but business, even after decades.

5. Teaching Method

Sales trainer’ is made up of two words: sales and trainer. We have seen that expertise in sales is a must-have, but we can’t ignore the ’trainer’ part.

A person may have years of experience in the field and a good reputation for making sales, but he may not necessarily be a good trainer or teacher at the same time.

A good trainer must know how to turn complex models into practical and doable tasks. He must also know the weak spots of his trainees and how to convert those weak spots into their strengths.

6. Keeping up-to-date

Old school sounds cool in the area of fashion and music, but when it comes to business, it can prove to be a menace for a company’s bank balance.

Keeping up-to-date with the latest trends in the market is the least talked about quality of a trainer. Sure, one can have decades of experience in the field, and some really good teaching methods. But an old fancy typewriter cannot beat a 21st-century computer!
Almost every business technique today is inclined towards digitalism. So, if you find that any trainer has no social media and online trail ’ it’s a big red flag. Taking the example of Dr. Vivek Bindra; he has a very strong presence on every social media platform. From a personal YouTube channel to an online business platform, he remains updated with the current trends of the market.
Any sales trainer in India knows how fluctuating the market is. So, staying updated with the current market trends is underrated, but at the same time one of the most important characteristics.

7. Quick Learnability

Last but not the least, the best sales trainer in India ’ in fact in the whole world ’ must be a quick learner. Forget about the field, sometimes even the trainees come up with questions in the training room that no one has heard of before. What can a trainer do in such a situation?
If one is a quick learner, the possible solution can be found out at the very same moment and place. But if you’re not a quick learner, you will fall flat on your face.
Also, live examples of quick learnability and adaptability shows how sales professionals should come up with solutions while doing sales or business on the ground. Every business theory is molded in some way while being used in the marketplace. If a sales trainer won’t teach quick learning skills to the trainees, there are high chances that all the theories will fail.
Enough talking about the characteristics of a professional sales trainer! Now, let’s talk about how the best sales trainer can help you in your business. What exactly do trainers do?

Here’s the list of 5 things that every sales trainer in India does regularly.

Orientation for Newcomers

Though the basic logic remains the same, the sales process differs for every company, every market, and every niche. If a sales professional comes from another company or market, a trainer conducts an orientation for the new sales processes.

If a new joinee has some ideas from the previous organization, a good sales trainer does not hesitate from learning and incorporating them into the current business. Flexibility, as we have discussed, is one of the most important characteristics of a good sales trainer.

Analysis of Sales Reports

Though this task is also done by subordinates, no one can replace an expert. A good sales training specialist will see the sales report and analyze the ups and downs in it. Not only does it require good solid practical experience, but also theoretical knowledge of big data analysis is necessary for the job.
With a detailed result of the report, the sales professionals are then briefed on what is working and what is not.

Improving the Effectiveness
After analyzing the quarterly, half-yearly, or yearly sales reports, if the trainer feels that a specific approach is working well in the sales process, he will then improve that approach so that it can deliver even better results. The same approach will be improved until it reaches a saturation point, where it can’t give any better results.Instead of a random Hit and Trial, an expert can improve sales by improving the already working methods.

Soft Skills Training
Though their niche is very specific, sales trainers in India are trainers in any case. So, when they are not doing job-specific tasks, they also teach soft skills to sales professionals.
The most famous Indian sales & motivational speaker, Dr. Vivek Bindra once said this about sales & soft skills, ’You can’t convince people by convincing; you convince people by connecting!’ Coincidentally, sales training specialists teach both of them to the trainees. No matter how much you teach your employees soft skills, there can be no such thing as too many soft skills.

Meeting Financial Objectives

If the financial goals of a company are not met as per plans or the deadline, the accountability of that falls on the shoulders of the sales professionals. And if sales professionals fail to do their task, guess who is responsible?
A top-notch sales trainer will make sure that if the financial objectives of a business are not met, then the sales approach is completely changed. Older methods are scrapped and new ways of sales are to be found in such scenarios.
What can be concluded about a job whose work is ever-changing? The methods are ever-changing; the goals are ever-changing, and even the title of the best sales trainer in India is changing. But the only thing that is not going to change is the need for a top sales training trainer in the country.
In a country like India where the local corporate market is showing a path to the world, where the competition has become fiercer; it’s important to have an exceptional sales training professional. So much so that it won’t be an exaggeration to say that every company needs a sales trainer as much as it needs a CEO.

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Powerful Personalities

The Best Business Trainer in India

Why is a business trainer critical for your business growth?

Regardless of whether you are running a little neighborhood business, or hoping to fabricate an overall organization, the advantages of business training can’t be exaggerated.

Maintaining a business can often feel like a singular interest. Like with most things throughout everyday life, having a good business trainer that you can depend on is one of the most significant assets accessible to entrepreneurs. While there’s a lot of information and guidance accessible online on the most proficient method to begin and grow a business, every last bit of it is common, conventional and not explicit to your one of a kind business. A Business trainer, then again, can give something unquestionably and increasingly important ’ customized, custom advice.

What can Business trainers help you with?

Most business trainers are flexible in the administrations that they offer, implying that whether you need to resuscitate a battling business or make an effectively fruitful business scale considerably, or whether your business is local or global, a gifted business trainer will have the ability to help you. There’s a typical discernment that business-instructing trainers exist just to assist business owners with battling or fickle organizations.

While getting them back in good shape is definitely one thing a mentor can help with, there are wide assortments of different circumstances where mentors can help business owners also.

Business mentors can help construct a business starting from the earliest stage, prompting administrators and business owners as they experience the way towards setting up their business, characterizing its crucial objectives, and setting up both long haul and transient procedures for the company.

Moreover, business trainers in India like Dr. Vivek Bindra
can help entrepreneurs grow post they have hit a level in their organization’s development ’ as they need a bit of hand holding on how to take their business to the next level.

Alongside improving the efficiency and further development of a business, such mentors are ready to carry a portion of the weights on business owners ’ to make their executions simpler and increasingly agreeable.

While maintaining your own business can be fulfilling, there’s no denying that at times, it can be stressful and distressing as well. This is doubly obvious, if you are running a whole organization completely, all alone.

At the point when you work with the best business trainer in India, however, you will have somebody in your corner, who can help you through the difficulties you will unavoidably face and fill in as a wellspring of experience and ability that you can depend on when difficulties arise.

Why a business owner needs the expertise of a business trainer: –

  • A Business trainer makes a roadmap to achieve your objectives 

What empowers CEOs of enormous and exceptionally effective companies to drive stellar outcomes year after year? What separates effective pioneers from the remainder of the pack? What do heads, overseeing executives, and other senior pioneers in these organizations do differently that leads to exceptional results? Working with the best business trainer in India is a key fix to solve this equation.

The Business trainer normally works with the CEO and different pioneers in the organization, helping her/him characterize targets and objectives ’ either close to home or for the business. A trainer additionally makes a guide to accomplish the objectives and mentors the leader or pioneer responsible for those activities.

  • Training provides an environment based on confidentiality

While the idea of training itself may sound basic, the genuine intensity of the methodology depends on what the business trainer brings to the organization environment.

Instructing is a confidential endeavor. It is a non-critical methodology that is dependent on undivided attention and increasing the abilities of the trainee.

Such a situation is normally not visible to a leader inside the organization, not for the absence of a goal, but difficulties in a hierarchical plan, execution pressures, and an intricate and dynamic market in which globalization might have a significant influence.

Let’s see what the best business trainers in India can do for your employees

  • Improve Employee Execution:

This intensive training gives the worker a much better comprehension of the duties and responsibilities of their job and increases their certainty, consequently empowering them to perform better in their jobs. Motivated workers help your organization approach any situation as industry leaders.

  • Improve Employee Fulfillment:

Investing in a training program shows that the organization values its representatives. Business training definitely helps in making a positive impact in the work environment. Training programs by the best business trainers in India empowers your representatives to feel acknowledged and tested ’ causing them to feel progressively fulfilled.

  • Empower Unwaveringness:

Employees will be more faithful to your organization if you show consideration for their self-awareness and improvement; regardless of how little or enormous your team is. According to a study, 35 percent of representatives feel that expansion in hands-on training and advancement or promotions in their job is a solid motivation to remain faithful to their organization.

  • Tending To The Shortcomings:

The business training programs permit representatives to resolve their shortcomings in their work environment. The business training program results in workers with improved aptitudes and abilities. Giving your employees the best training leads to a much more empowered staff, who can take care of each other as and when required, work with a group or even work autonomously. Subsequently, there is no requirement for continuous supervision.

  • Better Consistency:

An employee will build a strong foundation, with a strong business training program, which will result in more consistency. Consistency is the key step to more efficiency.

  • Expanded Profitability:

When the organization employees complete a training program, efficiency always increases. Better efficiency can bring about better outcomes in different ventures and as a consequence, improve the organization’s profits.

  • Better Advancement:

The business training program results in the upskilling of your workforce, empowering them with better innovativeness and development. Your representatives will have the option to think of new thoughts for your business systems with the assistance of such business training programs.

  • Decreased Worker Attrition:

When you put resources into training programs that advance and empower your employees, they will feel more valuable, loyal and motivated! These training projects lessen the desire of your workers to switch jobs, and as a result, this decreases enrollment costs and hassles.

  • Better Organization Reputation:

When an organization offers training and advancement projects to its workers, it turns into a no-brainer decision for graduates and other interested people to join your organization. Such business training programs cause your organization to be more appealing to youngsters, who are looking to improve their abilities and awaiting new chances to use their creativity, innovations and fresh ideas.

When an organization offers growth, new learnings and supports a culture of continuous improvement, it consequently pulls in new and fresh talent. Business training and improvement can significantly affect an organization. Harnessing the employee’s full potential, which leads to substantial outcomes for the business ’ ought to be the focus of such training programs. Business training ought to be treated as a fundamental aspect, much the same as every other part of your business. Bada Business and Dr. Vivek Bindra (The best business trainer in India) offer many such programs in different fields, including leadership management and CEO coaching to help entrepreneurs grow their businesses.

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Powerful Personalities

The Best Corporate Speaker in India

The Best Corporate Speaker in India
The Best Corporate Speaker in India

Do the Best Corporate Speakers have the power to alter a Company’s fate?

From understanding the benefits of hiring them to know what makes them powerful; here is everything you can learn about the best corporate speakers in India.

The best corporate speakers don’t just talk; they have such a unique way with words that the audience can’t help but take action and feel motivated with the wisdom the speakers pour out through their speeches.

In the past few years, the competitive nature of the corporate world has grown exponentially. No matter which sector it is, millions of people are striving hard to reach the top. Not just this, even those who stay at the top have to go the extra mile to make sure they hold their position for a longer time. But all these challenges take a toll on their spirit.

Be it the employees or the employers, everyone seeks out motivation to heal their confidence and reach for better goals. That’s where they need the best corporate speakers.

Nowadays, many established firms invite some of the best corporate speakers in India to ensure that their teams feel encouraged and empowered. They don’t just pump up the company’s morale, they also drive their productive action.

The best corporate speakers understand their audience and help them in staying away from detrimental habits and inspire them to accomplish their dreams. But the advantages of corporate speakers don’t end here.

Here are the top three benefits why one must bring a corporate speaker for theit employee events:

  • Changing The Perspective

At times, it is not about a person’s ability to get motivated that becomes an obstacle in his growth, but the inability to see things from a different perspective that make him fall behind. The best corporate speakers work on that special nerve and help people in perceiving things differently.

This approach can magically turn challenges into opportunities. People can start breaking complex situations and come up with easy and doable solutions instead of pondering over the dark times. When a person is rich in perspective, even little inspiration can work wonders in building upon the potential.

  • Improving Employee Engagement

“You can’t convince people by convincing, You convince people by connecting!” — says Dr. Vivek Bindra,

one of the best corporate speakers in India. You can’t just talk about inspiration without connecting with the people, especially in the corporate world.

 

A company can never reach true success if its employees don’t feel connected to its vision. Most of the best companies in the world make sure that their employees improve consistently through proper training and sessions. And having events where the best corporate speakers in India interact with them is a sure-shot way to engage the employees with knowledge and leadership. This, in turn, boosts their motivation and increases productivity at both professional and personal levels.

  • Re-aligning the Goals and Vision

Unfortunate accidents happen when vehicles follow the contradictory path. The same goes for a corporate firm that ends up miscommunicating its ideas and falls apart from its goals and vision. Such inconsistencies hamper growth and lead to stagnation.

The best corporate speakers understand this phenomenon. They identify the goals and trajectory of the firms and help in re-aligning those objectives clearly across the organization.

Characteristics of The Best Corporate Speakers

Just knowing how a corporate speaker can fuel the business is not enough. One must know how to spot the best one. For that, it is vital to understand the characteristics of the best corporate speakers.

  • The Polymath

Have you ever thought about how corporate speakers can talk for hours without running out of ideas or feeling clueless even for a while? Knowledge and expertise are the reasons behind this impressive characteristic.

The successful corporate speakers are well-informed individuals, who have a stronghold on their field. These are scholars who have gathered many pearls of knowledge during their rich experiences. Some of the best corporate speakers in India are even authors who have written plenty of books on motivation and have international experience in delivering corporate speeches. Dr. Vivek Bindra, who has been a visionary in the corporate world, has authored 10 high power motivational books and inspired millions of people across the globe.

  • Personality That Speaks

It is not just their words, but also their personalities that has a great impact on the audience. The best speakers have a lively, friendly and positive personality that helps people in connecting more with them. However, this characteristic is often confused by some to be intimidating.

The correct way to understand this is that the speakers must be authentic. He/she should believe in the message being conveyed. And once there is the alignment of thought and nature, the personality of the corporate speaker speaks for itself. They stay true to their nature and make the session more interactive and learning-oriented.

  • Confident Orator

Another essential trait in the list is eloquence and confidence. A good grasp on the words increases confidence, which in turn, makes one a great speaker. When a corporate speaker oozes with confidence, the listeners can’t help but feel a strong liking and this improves the faith factor. This fact is even backed by researchers!

According to a study published by the University of Wolverhampton; “A highly confident speaker is viewed as being accurate, competent, credible, intelligent, knowledgeable, likable, and believable than a less confident and uncertain speaker.”

  • In Sync With The Industry Dynamics 

Change is inevitable; more so in the corporate world. Therefore, corporate speakers are always in sync with the industry dynamics. They lead with their fluid ideas that match the needs of the sectors.

The top corporate speakers keep a track of the latest trends, the changing challenges and intriguing solutions that further help them in catering to their target audience with the best advice and lessons.

  • Fuelled With Passion 

Though last, but certainly not the least is Passion. Without this, it is next to impossible to hold an interesting conversation about a subject. Attend events of the best corporate speakers in India and their speeches are filled with passion for their profession.

They exude a high level of sincerity, such that the audience feels an instant connection. This passion is easily visible in the way they present their speeches — be it modulations in the voice or speaking through their body language.

In conclusion, the best corporate speaker is someone who doesn’t just offer the right guidance to corporate firms, but also becomes their business guru, providing concrete lessons and tools for further growth.

Categories
Strategy

How to Avoid the Risks faced by Small Businesses

How can a small business reduce internal and external risks?
Our economy is largely dependent on small businesses as these companies work in producing services or raw material for big brands. Running a business is not a child’s play. A lot of hard work and sweat goes into building a secure business entity. There can be many risks in business, such as the risk of capital, the right manpower, economic slowdown, and even natural calamity. So before setting up a business, every company should pen down the proper planning of their workflow, which affects overall operations because of these external and internal risks. Not doing this could bring the business to a gradual decline.

Factors that affect small businesses to survive in the market:

Internal Risk
Internal Risk is controllable in nature which derives from an improper execution of business plans. There are always some factors leading to internal risk in any company, so how can one overcome it?
1. Risk of Capital
For a small business entity, it is not easy to survive in a highly competitive environment. The risk of going out of business is always at stake.

  • Regular in-flow of funds either quarterly or half-yearly can help the business be ready for any unfortunate situations and to overcome the risk of losing capital.

2. Right Manpower
Finding the right person for the right job is a lifeline for all business ventures. If the key employees leave or cannot perform their duties, then your business could fail, particularly in small businesses that cannot offer attractive salaries and job stability.

  • Small businesses don’t require highly experienced people on the job and there is always a group of people who want to work for companies where they can show their creativity and passion. The right HR team can help businesses overcome the risk of finding the right people.

3. Product/Service Quality Issue
Small businesses cannot offer a low price for their products or services due to high operating costs. Any compromise in quality can lead to a setback for the business.

  • To overcome business risks due to quality issues, a strong QC (Quality Check) team should be kept in place to make sure that everything goes as per plan.

4. Debt
Debt can make the deepest holes in the balance sheet of small businesses. It should be very minimal if not zero, to keep going with their operations.

  • Instead, they should focus more on profitability than on volume, which helps them to avoid taking any loans from external sources and create risk in business.

5. Cybersecurity risk
The best organizations today can bear the cost of the best guards. As these bigger ventures show signs of improvement at protecting against cybercrime, cybercriminals threaten to descend on the business’s natural way of life and also tends to focus on private ventures who can’t manage the cost of complex security systems. Today, private ventures are the favored focus for cybercriminals.

  • At the point when income is restricted, spending on security seems like a risk in business. Acquiring cyber risk and information break protection inclusion, such as taking safeguarding measures to diminish Internet-based exposures can help you avoid falling prey to cybercriminals.

6. Legal risk
Numerous first-time entrepreneurs might not have the skill to assess everything about each agreement they need to sign or they may ignore something accidentally. These oversights can prompt issues in the near future. Legitimate cost protection can spare you from any extra or unforeseen dangers from providers or clients. This straightforward and simple choice can eventually help you save legal expenses and money spent on protection inclusion.

  • Protection or insurance is a key part of every small business strategy. By understanding these dangers for independent ventures, you can make strides at an early stage to deal with the above dangers and secure your property and assets against catastrophes.

External Risks

Businesses have no control over external business risk factors. Small businesses should keep this in mind at the time of planning and setting objectives to avoid the risk in business.
1. Competition
Industry leaders can play with small businesses to keep them out by eating their share of the market. They can reduce the prices of their products or services to make it more affordable for customers; any small business cannot afford to get into a price fight with these big giants.

  • To overcome this risk in business, one should always have a USP (Unique Selling Proposition), which is not possible for competitors to match.

2. Government Policy
Any change in Government policy can shut the small business venture overnight. An automobile engine part manufacturer won’t be getting any business if the government bans the kind of engine this business was manufacturing.

  • It is not easy, but diversification in more than one industry can help overcome the risk of change in government policy.

3. Economic Slowdown
Nobody was prepared for COVID-19. After this outbreak, the most affected industries were Hospitality and Travel. Consumption became very low in these cases and when there is no or very less demand, businesses cannot make any revenues.

  • To overcome these risks in businesses, one should always keep emergency funds ready for bad times.

4. Natural Calamity
Accidental fires, earthquakes, and tsunamis can happen without any warning. At times, the losses could be beyond recovery if a small business entity has not prepared itself for these situations.

  • A good insurance plan can help to avoid any such losses.

Therefore, in every business which faces risk, there is always a silver lining that offers hope and helps you to overcome it. One should be motivated and must have a positive attitude towards every situation that can impact you in the future.

Categories
Technology

How Outdated Software Can Put Your Business at Risk

Security Risks of using an Outdated Software

Technology is the key to a successful business and software is the pulse of your technology. Outdated software risk, which is also known as legacy software, cannot be overlooked within a business. A business should replace the old software before any critical issue occurs. This issue can be detrimental to your business if you do not upgrade it with a new system. However, upgrading your software is not an overnight decision and comes with many challenges like staff training, data migration, etc. 

Let’s discuss a few issues that can be detrimental for your business if you do not change your outdated software:

1. Increased failure rate

We all live and work in an on-demand society, where your customers expect uninterrupted and reliable services that are available at their leisure. While using outdated or legacy software, if any unavoidable issue occurs, then you and your customers can face a service downturn. This issue can damage your brand image and you can lose your customers to your competitors, who probably have new or better software. Outdated software risk may slow down your business growth.

Increased failure rates can also have an impact on your pocket with extra costs, such as:  

  • If you have outdated software risk, then you can lose some of your sales.
  • Outdated software risk affects employee productivity as a lot of time will be wasted in fixing and maintaining software.
  • IT and data recovery costs also can affect your pocket.
  • Your brand image can go down.

2. Regulatory and legal outdated software risk

You can be a prime target for data thieves and hackers if your software is outdated. If you are not focusing on updating your software, then you can increase the risk for your business. You can break regulations if you are using outdated software. Although there are laws on data storage that ensures your data is secure, but if your technology is unsupported, then you might face detrimental consequences. It is more important to have data security as many companies do online transactions to avoid outdated software security risk.

3. Increased cost

Outdated or legacy software can be costly to maintain. Although, the new software will come at a price, but you will likely face less risk and will be able to save money in the long run. Updated or new software ensures that your employees are well-armed with the right technology. The outdated software security risk is likely to use more electricity, which can also add to the cost factor in your budget. 

4. Security

A Microsoft study shows that with updated technology, companies can avoid 70-80% of top malware detected. Old software puts your company data at risk all the time. The purpose of the update is to fix the security flaws. Many automatically rolled cloud-based software are there to give you security updates and protect your business data. However, if you are using any unsupported and outdated technology, the critical updates will not be available and your data can be breached. Outdated software risk means you are more vulnerable to attack by hackers and data thieves.

Perks of upgrading to new software:

  • Upgrading your software can reduce your IT costs by 66%.
  • It will help you to compete against large organizations.
  • Using a cloud can help you with security advantages.
  • Updated or new software allows you to grow your business faster by 49%, whereas outdated software risks may slow down your business.
  • The upgraded software will add new features, which will help you to work smoothly.

It is even more important and essential for a business to have the right software, as technology continues to develop. By upgrading your software, you ensure that you are ready for the future and are in a good position to compete with other competitors out there. With an updated armory which is your software, you will have the power to manage your processes, connect your departments, and grow your business faster.