Tag: business coaches

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Business motivation

5 Key Factors To Kick-Start A Small Business Consulting Firm In 2023

5 Key Factors To Kick-Start A Small Business Consulting Firm In 2023
5 Key Factors To Kick-Start A Small Business Consulting Firm In 2023

Consultancy is a large and profitable industry. Organizations around the globe spent more than $155 billion in 2018 on consulting firms.

India has five of the largest IT consultancies in the world.  That is more than China, Ireland, and France combined. And it is two less than the United States if you consider the companies whose outsourcing practice is at the core of their business, like IBM for instance, according to a report published in Forbes.

In India companies like Wipro, Infosys, Tech Mahindra, and TATA Consultancy Services are the big names in the industry. However, where small and mid-level businesses are concerned, there are many industries and business owners who have plenty of professional challenges and are looking for business coaches to resolve their business challenges.

If you want to start your startup, starting a business consulting firm is a lucrative business idea. All you need to discover is your strength and expertise in a particular field.

Life as a consultant has a lot going for you in 2023. Here is a definitive step-by-step guide to starting your consultancy firm:

1. Choose your Segment

A consultant is a professional who is an expert in a particular field. It not just provides you an edge in the market but also helps you to differentiate yourself from all the other generalized consultants.

If you have a problem with your eye, would you go to an optician or a general physician? Optician, right? Similarly, when planning to start a consulting business, it is highly recommended to specialize in a niche segment. Knowing that you are an expert in their issue will give confidence to your clients. After all, they are going to invest their money to pay your fees.

Have a business idea? You can hire a business coach as well for your business.

2. Get Proper Certification & License

Based on your profession and specialization, you may need special certifications or licenses. For instance, you will have to register as a professional fund-raising consultant before starting any consultancy services.

3. Define your Consulting Services

Consulting is a broad and vague concept. But clients and potential clients do not pay money for vague promises. Hence, you need to showcase the specific consulting services you will offer and deliver to your existing as well as new potential clients. You can start by analyzing your skillset and brainstorming the general consulting services before you take up any new project.

This could be beneficial for both you and your clients. Your clients can make a comfortable, clear, and informed decision. You should also understand why clients hire consultants. Some businesses hire consultants to supplement their staff, identify and resolve problems, to promote change, to influence important decision-makers. As a consultant, your services and deliverables are foremost important for the business. Once you know what you will be offering to your clients, you are ready to take on the world with your next step- writing a business plan.

4. Write a Business Plan

When starting a business, entrepreneurs tend to make multiple mistakes and rush into things without considering the crucial element of their business – a clear vision and goal.

A clear and well-defined goal helps you to focus solely. And the focus comes from a business plan. Though writing a business plan is not necessary, it can help you crystallize your innovative ideas and avoid mistakes.

Entrepreneurs who take time to write business plans when starting a business are 2.5 times more likely to get their business off the ground. But do not get obsessed with writing every other small detail. You can write a concise business plan and start working on it.

5. Decide your Legal Business Structure

Before you start your small business consulting services, you need to decide which type of entity you need to register. As your legal aspect of business affects everything, do not rush yourself into deciding to register your business immediately.

Spend some time reading about all four types of business entities:

a). A sole proprietorship

b). Partnership

c). Limited Liability Company (LLC)

d). Corporation

Starting a business from scratch is not easy. Hence, pay some attention to developing your brand identity. Once you have defined your brand, you can start and run a consulting business. To learn how you can run a consulting business smoothly, you can take our ‘Business coaching program’. To know more about it, click here: www.badabusiness.com

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Startup

Grow Your Startup Business With These 5 Effective Leadership Qualities

Grow Your Startup Business With These 5 Effective Leadership Qualities
Grow Your Startup Business With These 5 Effective Leadership Qualities

Now and then we come across some influential industrialists talking about powerful leadership and how it can help an organization to scale and grow. A strong leader can keep his employees and teams highly motivated. But what exactly are the characteristics that make a person a strong leader? Is it an influential connection or a charismatic personality? Does having a high competitive spirit make a person a powerful leader that holds the key to an organization’s success?

Excellent leadership is a necessity for every company that wishes to grow and sustain for a longer time in the market. The ups and downs and the uncertainty of the business demand a strong vision and a compassionate heart that is quick enough to make decisions to navigate the rough waters.

There are many business coaches according to whom ‘effective leadership is also all about building up the people around you: empowering them, trusting them, and ultimately, enabling them to contribute their expertise so that the team can become more than the sum of its parts.’

So if you are thinking of taking the charge and leading your startup business in a direction where it thrives and make progress, here are five leadership skills that will help you and your team increase your company’s leadership quotient:

1. Set Clear Priorities

It is easy to get caught up in a new organization that is making continuous progress. But, one of the key roles of a leader of your company is to prioritize the important things. When you make everything important, it creates a sense of chaos amongst the employees as most of the time they feel that everything is urgent.

As a leader, you need to sort through all the distractions and make it crystal clear to the people you are working with what they need to focus on first and foremost. Learn how you can sort important tasks from Dr. Vivek Bindra in this video:

2. Empower Your Team

Good leaders are not just focused on their personal growth. They leverage the skills and brainpower of their team. They never micro-manage and instead give their team freedom and space to figure out the best way to accomplish goals and complete tasks.

To implement this in your company, you need to be more aware of the results you are aiming for. Managers often micro-manage because they have not taken the time to figure out the outcome of the process. A good leader starts with the outcome in their mind and then lets their people find the best way to achieve it.

3. Start Delegating Work

Delegation is no less than an art. As a powerful leader, you must have this critical skill to be effective and advance. Failing to delegate work to the right people will leave you engaged with operational tasks that will hinder your advancement. So focus on highly important and complex tasks. Then delegate starting with simple and unimportant and work your way up.

4. Emotional Intelligence

Great leaders often are good communicators. They have the soft skills to help others manage their way through strong emotional responses. They not just listen to what people say but also try to understand what has not been said through nonverbal and contextual signals.

5. Analytical Mind

Strong leaders also tend to demonstrate strong analytical skills. An analytical leader can take stock of a situation, consider possible paths and likely outcomes, and chart the course most likely to succeed. This skill set provides value no matter your role, and it becomes increasingly valuable the more authority a person has.

If you want to be a powerful leader, you can start cultivating this set of five skills. To gain in-depth knowledge about how to become a strong leader, you can attend India’s most impactful leadership funnel program 2.0 by Dr. Vivek Bindra. To know more about this event, register here: https://www.badabusiness.com/lfp?ref_code=FB&&pp_code=BHBB000078

Categories
Motivational

5 Powerful Tips To Build An Engaged Manpower

5 Powerful Tips To Build An Engaged Manpower
5 Powerful Tips To Build An Engaged Manpower

Summary- Human resource department has evolved into a very complex and specialized discipline. But still, it is lagging when it comes to making development.

Manpower is the lifeblood of any business. Employees can either make or break the business. But small business owners often fail to see the value of prioritizing human resources as a strategy. They often focus more on business operations than hiring the right candidate for their company. But statistics show that employers who view their employees as their most important asset are always more profitable. Many business coaches often emphasize the importance of the Human resource department in an organization.

Getting business owners to embrace this concept is made more difficult by the fact that payback on HR investments is not immediate. It takes time and discipline to realize. Today, the human resource department does a lot more than just hiring and firing and keeping up with employee records. It has taken on a much more strategic role. As the company’s most valuable assets, employees require investment.

So how Human Resource Management can help attract and retain the best talent? By putting the focus on these five critical areas:

1. Bridge the Skill Gap

Upskilling plays a key role in retaining top talent. Technology solutions are uniquely suited to help companies train employees in new skills — not least because many of the required skills these days are digital. A company should adopt a business-driven, people-powered upskilling strategy that relies on technology as a delivery mechanism for skills assessment, training, and continuous development. You can also hire a business motivational speaker to keep your employees motivated and inspired.

2. Find & Retain the Right People

A company’s culture is composed of people. People are responsible for creating the culture of a company. No matter how capable leaders or the operational processes are in place, if the right people are not hired, the organizational goals will never manifest into reality.

The sacred and foremost duty of HR professionals is to help managers bring in the most compatible candidates, maintain open communication, recurrent feedback, proper documentation for the right ones, and protections in place for when the wrong ones need to be sent out of the door.

3. Empower Your Workforce

Empowering employees means empowering your organization. The concept of employee empowerment is giving employees the tools that they need to fulfill their job responsibilities successfully. It not only gives them a sense of achievement but also instills the feeling that they have control over their career development.

The best way to do so is to give your employees autonomy so that they can work without being micromanaged. This also gives them confidence that their leader will go to bat for them if necessary.

4. Promote Transparent Communication

When it comes to deepening employee trust, transparent and empathetic communication plays a significant role. Communication is a two-way exercise, and that includes listening to employees, acting on what they tell you, and sharing information frequently and honestly.

5. Identify Key Areas

It is vital for HR to identify the best practice areas of focus that can help to cultivate and promote the desired culture. Once it is clear and defined, HR needs to assure the value proposition for the change is clear. It simply means that the leaders and the employees must have a clear idea about what’s in it for the company and the employees.

A company’s culture is defined by the environment and how it feels when you walk through the door and interact with employees. Building and maintaining a sustainable culture that feels positive and empowering takes the whole village.  Hence, it is the responsibility of the HR department to talk to the top management leaders and remind them about how business decisions are perceived.

As an entrepreneur, you will need the right talent to take your business to the next level. HR is the glue that helps to stick every department of a company together. Hence, you can take an online coaching program that focuses on the problems like retaining your best employees and how to keep the productivity of your workforce at an all-time high.

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. To know more, visit: www.badabusiness.com

Categories
Motivational

Want to Create a Successful Brand? These 5 Simple Steps Will Guide You!

Create a Successful Brand in Just 5 Steps!
Create a Successful Brand in Just 5 Steps!

Summary: Evaluating, developing, and documenting your brand’s position and purpose is crucial to building a strong and successful brand.

Launching a new business is both challenging and exciting. The promise of something new that could be wildly successful, be it your well-established company or a new venture, the real challenge comes in getting it right the first time.

Many startup owners often take help from business coaches, who with their years of experience guide them how to navigate through rough waters of the business world. Getting your branding right, from the beginning is very important because, in the long run, it will typically cost you far more to rebrand it in the future.

To help you move in the right direction with your branding, here are some of the elements that many successful brands include in their branding process. These are actionable points you should consider and evaluate before you launch your new brand — product or service — into the market.

1. Do Your Research

Successful branding is the byproduct of deep and thorough research. Developing a strong foundation for your brand is important to the planning and execution of your successful brand strategy. There are some questions that you need to ask yourself:

  •       What are the needs or problems of your customers?
  •       How does your brand fulfill those needs or solve those problems?
  •       What values and qualities are important to your brand and your primary customer?
  •       What type of experience do you want to be associated with your brand?
  •       How will your brand enhance your primary customer’s life
  •       Does it make their lives easier?
  •       How will your brand make your customers feel? What do you want them to feel?

You must understand your product to establish a strong brand identity for your company. Otherwise, you won’t be able to engage with the consumer.

2. Define Your Brand Vision

How do you want your brand to be perceived? To be successful you’ll need to develop a clear mental image of what your brand is all about — its vision — together with its persona or character attributes before your launch. You must have this concept clear in your mind to establish your brand’s distinctive characteristics. This will help you launch your brand with a consistent brand platform that captures the right audience.

You can hire the best business coach in India who can help you to set a particular tone for your brand by touching all your brand touch points or channels and brand collateral.

3. Build a Connection With Your Consumer

How does your brand contribute and add value to your customers’ lives? From your logo and strapline to your design and color scheme, everything contributes to conjuring up an emotion that resonates with your target audience. Your brand should create an experience that enriches your target customer.

4. Know More About Your Target Customer

It is impossible to establish your brand identity without knowing your target audience. If you want to make your brand compelling you have to know what matters to your customers and the only way to establish that is to conduct research. Include distinct factors such as demographics- the age group(s), gender(s), socioeconomics, geographic locations, what they have in common, what motivates them, and so forth if preferences are not strictly age-related and other relevant categorical factors that help define your ideal customer. You can also create a buyer’s persona with the help of a business mentor by carrying out deep marketing research.

5. Be Consistent While Creating Brand Awareness

To gain the trust of your customers, it is important to keep your brand values consistent. Stay updated with the changing trends which are essential to thrive in the constantly evolving market. This begins with the simple task of obtaining and registering your domain/profile name on new digital platforms and social media channels.

When it comes to brand awareness, it starts at home. The image of your brand depends on both external and internal communications. You can consider how your staff or colleagues can act as your brand ambassadors to help your business establish itself as a brand.

When creating a brand, it is essential to think about every aspect related to your brand. You not only have to think about the logo, but also about the support system, strong message, and all of the necessary legalities, like getting trademarked, in place. You can take our online business coaching program for the rest of the things.

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. To know more, visit www.badabusiness.com

Categories
Process & Business Expansion

5 Management Tips That Will Make Entrepreneurs Highly Productive!

5 Management Tips That Will Make Entrepreneurs Highly Productive!
5 Management Tips That Will Make Entrepreneurs Highly Productive!

Summary: Being able to launch, execute, grow and scale a startup business is an intellectual exercise that involves a lot of backstage activities and incredible time management.

Entrepreneurship is a state of mind that demands many personal and professional traits. Scaling a business is an intellectual exercise that involves networking, planning, research, marketing, sales, business strategy, and several related activities.

As a result, entrepreneurs have to juggle multiple tasks like attending events, meeting investors, taking care of business operations, hopping on calls and being extra careful with every decision for their business endeavor. All this can lead to a critical state of burnout- a situation of complete mental and physical exhaustion.

Experienced freelancers, business coaches, entrepreneurs, and successful business owners manage to finish their tasks on time because of their perfect time management skills. Time management techniques and strategies help them to prioritize their important tasks on a daily basis.

Time management is a process of organizing; planning and strategically controlling the time you spend on specific tasks. When done effectively, it enables you to get more work done in less time.

Here are the top 5 time management tips for entrepreneurs to increase their peak performance and productivity:

1. Find Your Golden Time

Are you an early bird, a night owl, or somewhere in between? Do you know during what time of the day you feel you are most productive? Time management is not just about managing 24 hours a day. It is also about understanding how and when you function best. You can schedule your most important tasks according to your productive window of time and set up your day in harmony.

2. Use Covey Time Management Matrix

Created by the author of The Seven Habits of Highly Effective People- Steven Covey, this time management model is quite effective and used by many business coaches across the world. This model is based on four simple quadrants:

  1.   Urgent and important tasks
  2.   Not urgent, but important tasks
  3.   Urgent but no important tasks
  4.   Not urgent and not important tasks

Divide all your tasks into the above-mentioned four quadrants. Manage things in quadrant one first, followed by the second, third, and so on. Prioritizing your tasks this way can be extremely helpful if you are juggling multiple things at the same time. You can also watch some of the best time management techniques, right here:

3. Plan Your Days or Weeks in Advance

Planning out your days for the week ahead is a brilliant way to organize your time efficiently. You can keep a diary or use a calendar app and write down the tasks with high priority. You can start with tasks that have upcoming deadlines, followed by less urgent tasks. Also, don’t forget to squeeze in your breaks and buffers to keep you focused and refreshed.

4. Focus on One Thing!

If there is one myth that needs to be busted across the globe, it has to be the concept of MULTITASKING. Yes! A human brain can only handle doing one thing at a time. So, if you try to do more than one thing, you will end up constantly switching your focus and taking even more time to complete both tasks.

Hence, focus your attention on one task at a time and stay on course till you finish it. Once it is finished you can move on to the next task.

5. Remove Distractions

Many times we start doing one task and our phone beeps! Instead of ignoring it, most of us check the screen and then forget about the task that we were doing. Even if a deadline is looming, we would try hard to finish one task, but it just does not happen.

So the first step that you should take towards managing your time efficiently is to remove distractions. Figure out what distracts you the most. Is it employees chattering around you or the notifications coming on your phone? Once you find out your triggers, you can take action to eradicate them.

From turning your internet off to putting your phone on airplane mode, chances are that you already know how to help yourself drown out background noise to focus on only what is important.

Also, don`t forget to take a rest even when you have countless things to do. It is very easy to let your business take over your entire life, but you also need to take care of yourself. If you let your physical and mental health slide, you won’t be able to perform your best.

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. To know more about these courses, visit: www.badabusiness.com

Categories
HR & People Management

5 Tactics To Retain Top Performing Employees In The Organization

5 Tactics To Retain Top Performing Employees In The Organization
5 Tactics To Retain Top Performing Employees In The Organization

Summary: The great resignation is an opportunity for employers and businesses to reassess, re-engage, and redefine strategies and make them more employee-friendly.

The time that we all have spent during the pandemic working remotely has played a key role in the revolution of ‘The Great Resignation.’ It has given some time to the people involved in a rat race to think about their work-life balance in a way never before possible.

According to an estimate, around 4 million workers per month are quitting their jobs. This is a revolution that is causing great disruption across the globe. While many companies, business coaches, corporate trainers, and leaders are trying to address the problem, many will continue to struggle because they don`t understand the reason behind their employees leaving in the first place.

The majority of the workers are quitting their jobs because of low pay, lack of growth opportunities, toxic culture, and feeling disrespected. Employers and leaders should look at this as a challenge and start reassessing, redefining, re-engaging, and adjusting direction by using the following strategies:

1. Begin By Hiring the Right People

Hiring a person who aligns with your company`s goal and core values typically leads to long-lasting, mutually beneficial hires. It helps to build a team that can work together and employees who feel valued and share values with the company they work for are more likely to stay. Quick or bad hiring practices will leave you in a sticky situation where you will be subject to more resignations.

2. Show Genuine Appreciation

According to one report published in Mckinsey, employees want to feel valued by their managers and their company. Of course, they seek sufficient pay, benefits, and perks, survey data shows that it’s the appreciation and respect that they want from their seniors.

The best motivational speaker in India– Dr. Vivek Bindra says, “Every action which is appreciated, gets repeated.” But how do you show appreciation? If your team is handling a challenging project, send personalized “thank-you” gifts to every member. While people do like bonuses, the key is linking the gift with genuine appreciation. If your employees are feeling burn-out, close the office for an unplug-and-recharge day.

3. Offer Training

Training and professional development are two important keys that can help an employee to grow in his career. You can arrange a few sessions with a business motivational speaker or can provide online training and other coaching tools that can prove to be effective in showing your team members that they are valued. It will not only increase the person`s value but will also their career marketability.

4. Be Generous with Pay & Benefits

Many companies in India still do not feel comfortable with the idea of giving their employees a ‘five-day-working’ culture because they feel why they should pay to give their employees paid offs. However, this is the worst mistake that they can do. Many employees often leave their companies not because of the better pay but because of work-life balance.

Also, offering competitive salaries and benefits packages will give you a fighting chance to land and retain top-performing employees. Practices like bonus plans, compensation reviews, and annual benefits will ensure that your top talent feels appreciated.

5. Offer Work-Life Balance & Flexibility

Thanks to the pandemic, many companies have adopted a “productivity over time in the office” philosophy. However, many companies still have not learned about the hybrid work culture. This is one of the major reasons behind employees quitting their jobs. Adopting a hybrid culture can be a major factor in retaining staff.

While organizations will always face a percentage of resignations each year, smart and committed companies can take real steps, including the ones mentioned above, to overcome the “Great Resignation” by valuing, inspiring, engaging, and retaining employees — especially top performers.

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.