Tag: Business Goals

Categories
Marketing

7 Unique Ways To Boost Customer Retention Effectively

7 Effective Techniques To Get More Loyal Customers
7 Effective Techniques To Get More Loyal Customers

Summary: The ultimate goal of any business is to attract customers and retain them.

The foundation of growth and success for every business is staying relevant to their customers, and companies always try to focus on this. Attracting customers is critical for any business. However, their ultimate goal is to get those customers to return and become regular buyers.

Attracting a customer is one thing, but ensuring that they keep returning and stay loyal to your product or service can be challenging. This may seem like a challenge, but some unique methods can be used to retain your customers even more effectively.

Through effective marketing and other actions as well, you can turn a first-time buyer into a loyal fan of your brand. You can also work along with a business coach who can guide you with his expertise to come up with unique ideas to increase customer loyalty.

Here are seven unique methods that you can use to retain your customers:

1. Keep Communications Transparent

Honesty, openness, and vulnerability- are the factors that hold a lot of significance to customers. They want to do business transactions or deal with brands that set realistic expectations and exceed them almost every time. In case they don`t, they take steps to make it better when that happens. Customers truly want to deal with businesses that are transparent about their humanness.

2. Focus on Building Relationships with Customers

Customer relationships are the foundation of customer retention. To build relationships with customers means investing time in understanding their needs, requirements, concerns, their experience with a product or service. A business coach with relevant industry experience can help you to build stronger relationships with your customers.

How you treat a customer before and after he or she purchases your product or service demonstrates who you are. It helps to strengthen your relationship with the customer.

3. Ensure Excellent Customer Experience

If you want to retain your customers, focusing on providing a high-quality customer experience, which translates to providing a service that far exceeds their expectations, can work in your company’s favor. To ensure you are giving your customers nothing but the best, give them quality service or products that are above and beyond their expectations.

4. Interact With Your Customers via Social Media

Today, your target customer is present on social media. Social media platforms have emerged as a boon for marketers and advertisers as they provide easy access and wider exposure to reach out to their consumers firsthand. So, why not engage with them?

Engaging with your customers online via social media is a great way to keep them engaged with your brand as well as remind them that you’re “there” to be of service.

5. Make Your Customers Trust You

People want to associate with a brand that is honest and has its customers’ best interests at heart. Keep your communications clear across all the platforms of your marketing touch-points. This means following all legal and generally accepted safety protocols. Keep a tab on public sentiment to understand what is working and what needs to be updated.

6. Lead with Compassion

Empathizing with your customers once they have purchased your product or service is a great way to solidify your relationship with consumers. Reach out to your existing users to hear how they’ve been affected. If you understand their concerns, you are well-equipped to solve their immediate needs.

7. Make Your Customer Feel Special

People remember how you make them feel. So make your customers feel valued, appreciated, and important. People crave connection, so make your customers feel valued, appreciated, and important by tapping into the good feeling that your product or service creates for customers. Invest the time to make it personal and create a customer environment that allows them to have a sense of belonging.

We often receive hundreds of emails from brands sending us a link to click on. But how many of us open those emails? Instead of trying to stay on top of mind by sending the same email that other companies are sending, send an email telling a story about your company and what you are up to.

Don’t sell. Don’t market. Just create a bond with your customers and lead with compassion.

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.

Come be a part of India`s most powerful business training ‘Leadership Funnel Program 2.0’ by Dr. Vivek Bindra which will be held on 22, 23, and 24 July 2022. To know more about this event, visit https://www.badabusiness.com/lfp?ref_code=SM&pp_code=BHBB000078 .

Categories
Motivational

Top 5 Offbeat Jobs That Pay High Salaries & Are Completely Fun!

Top 5 Offbeat Jobs That Pay High Salaries & Are Completely Fun!
Top 5 Offbeat Jobs That Pay High Salaries & Are Completely Fun!

Summary: Most of us are stuck in 9-to-5 jobs. But some people have taken up the offbeat path when it comes to doing jobs.

Click..click….click…..Ctrl+C…Ctrl+V……save file…save as….Ctrl+shift+Del……….Well, a lot of us working in mainstream jobs might be getting our salaries on time. But very few of us would say that we are satisfied with our work.

We are stuck in a routine and our work schedule has become mechanical. Still, we choose to do 9 to 5 desk jobs each day. But a few lucky ones amongst us dared to dream differently and escaped the rut by doing some of these offbeat jobs that we are sure you have not even heard of.

Want to explore unique opportunities that will pay you well? Attend our ‘Leadership Funnel Program 2.0’ by Dr. Vivek Bindra to discover unconventional business ideas.

Here are a few business ideas that pay surprisingly well:

1. Professional Cuddler

Gone are those days when the only profession was doctor, engineer, or lawyer. Today, there is no dearth of unique ideas that is a driving change behind the blooming startup ecosystem in India. One of these unconventional professions is to become a ‘professional cuddler.’

Many people have adapted it as a full-time profession and are earning pretty good. Trevor Hooton is a professional cuddler and hugger who charges as much as Rs 7,100, for an hour’s service. He also goes by the name ‘Treasure’ and offers ‘connections coaching’ for people who find it difficult to form relationships. According to Trevor, a lot of people do not understand the profession.

2. Become a Professional Bridesmaid

If you are good at giving wedding advice and guidance to all your friends when it comes to costume color, design, hair-dos, make-up, and footwear then you can consider becoming a professional bridesmaid.

Most often we see that brides need their friends around for beautiful photographs and of course emotional support. Many companies provide bridesmaids who provide exceptional services that include offering day-of advice to giving a beautiful toast at the ceremony. You can earn from INR 6000 to INR 7000. Sounds interesting? So put on your best dress and heels, and get ready to enjoy a wedding as a bridesmaid.

3. Water Slide Taster

As bizarre as it sounds, a water slide tester gets paid well. Job responsibilities include taking multiple rounds and trips down the slide to see how much it needs, how quickly you reach down, and how safe it is. Well, having fun during job hours goes without saying. So are you ready to make a splash?

4. Ice Cream Tasters

Does your heart skip a beat when you look at a cup filled with delicious ice cream? If you just nodded your head into a yes, this unconventional idea will make your taste buds extremely happy. Ice cream tasters, otherwise known as food scientists, sensory analysts, or “flavorologists,” can make up to $60,000 a year. If you’d like to get paid to try out new ice cream flavors, this unconventional career path may be for you.

5. Food Photographers

Have a look at your Instagram account. Do you see lots of dishes lying creatively in your posts and reels? Are you passionate about clicking pictures of delicacies and mouth-watering food decorated on a platter? Can your pictures make a badly-cooked dish look appealing to the eyes and other sensory organs?

If you love clicking pictures of food served on the table, you can become a food photographer. A food photographer is in great demand and makes a generous income these days. Chefs and restaurant owners hire food photographers to capture beautiful pictures of food for promotional use. Not just in the hospitality sector, but also they are in great demand by magazines, cookbook publishers, and newspapers too.

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.

You can also attend Leadership Funnel Program 2.0 by Dr. Vivek Bindra which is going to be held on 22, 23, and 24 July 2022. For more information, visit https://www.badabusiness.com/lfp?ref_code=SM&pp_code=BHBB000078

Categories
Motivational

Top 10 Motivational Quotes By Dr. Vivek Bindra To Help You Chase Your Dreams

Top 10 Motivational Quotes By Dr. Vivek Bindra To Help You Chase Your Dreams
Top 10 Motivational Quotes By Dr. Vivek Bindra To Help You Chase Your Dreams

We all want to succeed in life. However, the road to success is not always a bed of roses. And sometimes despite giving our best, nothing seems to work our way out. We feel like giving up and we might feel nothing will ever change for the good.

The nature of being an entrepreneur means that you are comfortable with being challenged regularly. Many people often consider this career path irrational as success is not guaranteed. But many people do succeed because of their unwavering belief and laser-like focus.

You can achieve all your goals if you have faith and belief in yourself. If you are passionate enough to go that extra mile to fulfill your dreams, you can make a difference on the road to success. You can learn how to navigate the business challenges by being a part of India`s most powerful webinar ‘Leadership Funnel Program 2.0’ by Dr. Vivek Bindra.

If you feel like giving up due to constant challenges, here are the top 10 motivational quotes by Dr. Vivek Bindra that will reignite the spark inside you to follow your dreams:

  1. Don’t focus on multiple things, focus on the main thing and the business will follow you.
  2.   Leadership is about taking responsibility, not making excuses!
  3.   Difficulties in your life are not dead ends. They are just the sweet bends!
  4.   Surround yourself with people who have ambitious plans, meaningful purposes, and big goals.
  5.   You can’t convince people by convincing, you convince people by connecting!
  6.   Attraction to distraction drifts you away from your goal!
  7.   Success is not about changing reality. It is changing the mentality behind reality!
  8.   When failures hit you, you hit the failures back with a bounce back.
  9.   If you try to be the best you’ll be number one, if you try to be unique you’ll be the only one.
  10.   If you don’t help yourself, nobody in the world can help you to help yourself!

Starting a company is like a roller coaster of emotions with tremendous highs and at times, difficult lows, but one thing that will help you through the ups and downs is to connect with some of the greatest minds. Why not reach out to people who will help you to grow and evolve in your industry? Join India’s most powerful Leadership Funnel Program 2.0 by Dr. Vivek Bindra on 22nd, 23rd, and 24th July 2022.

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 our event and its exclusive benefits, visit: https://www.badabusiness.com/lfp?ref_code=SM&pp_code=BHBB000078

Categories
Motivational

4 Streams Of Income That Will Grow Your Wealth

4 Streams Of Income That Will Grow Your Wealth
4 Streams Of Income That Will Grow Your Wealth

Summary: Want to create passive income? Here are four income stream ideas to try out.

Studying about millionaires and billionaires is quite interesting. Why? They are more often than not regular and ordinary people, who with their sheer dedication and remarkable discipline have achieved everything they ever wanted to.

Successful millionaires too have twenty-four hours a day, but they use it differently from the rest of the world. One thing which is common among them apart from being wealthy is that they have multiple streams of income.

According to an article on CNBC, 65% of millionaires have three sources of income, 45% of millionaires have four sources of income, and 29% of millionaires have five or more sources of income streams.

Passive income is a powerful tool.  It can increase your wealth passively. So, here are the top four streams of income that will boost your bank accounts.

Before we begin to tell you about the different streams of income, we would also like to allow you to hone your leadership skills with the best motivational speaker– Dr. Vivek Bindra at the most powerful business training event ‘Leadership Funnel Program 2.0’.

1. Real Estate Syndications

Passive income streams are one of the basic wealth-building blocks. Every person on this planet only has 24 hours in a day. No matter how much you can actively work, you will always hit a limit on how much you can earn and how much you can save.

With passive income, you can turbocharge your wealth generation as you will continue to make money even as you sleep. Real estate syndications are one of the best passive sources of income. It is a group of investors that purchase a particular commercial or multi-family property. These investments feature yearly returns of around 8% and typically run for about five years. Apart from these above-average returns, when syndications sell the purchased building, investors are provided with a 30%-50% lump-sum return at the end of those five years.

2. Investment Income

Investment income is another common type of passive income stream that will grow your wealth. This category is more generic as it includes dividends from equities and bonds. These investments will not pay life-changing money, but as you grow your wealth, the stock market is a fantastic place to park your money safely while it grows and earns quarterly or monthly income. The key to wealth building is diversification and making smart investments can help you achieve that goal.

Another way is to attend India’s most powerful business event ‘Leadership Funnel Program 2.0’ with Dr. Vivek Bindra who is a business coach to many corporations in and outside India.

3. Business Income

Many people do a side-hustle to earn extra income. This may look ordinary, but in the long run, it can help you to grow your wealth exponentially. Whether making or selling something or providing services, owning a business opens up a world of limitless income possibilities. Suppose you’re a copywriter and you are quite good at your work. You can find clients and work as a freelancer and earn something extra. You can reinvest it in your business or you can leverage your side gig to save more money tax-free.

4. Renting Out Your Car

From BlaBla to QuickRide Carpool & Taxi peer-to-peer rentals have become remarkably popular. Many companies were hit during the pandemic and sold many of their cars. You can turn this into a side business of sorts. It’s not just property you can invest in and rent — if market trends continue, renting out cars is fast becoming a viable income stream!

If you want to grow your wealth, you need multiple streams of revenue. Relying too heavily on one stream typically is risky. What happens if you lose it? Similarly, if that singular income stream requires work, you limit how much you can make because there are limited hours in a day that you can work.

All of the four streams of income above are fantastic ways to grow your net worth. If you haven’t already, consider diversifying your portfolio by implementing the income streams suggested above! It will help you to increase your wealth passively.

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.

You can be a part of India`s most powerful business training event ‘Leadership Funnel Program 2.0’ by Dr. Vivek Bindra.

To know more, you can visit: https://www.badabusiness.com/lfp?ref_code=SM&pp_code=BHBB000078

Categories
Strategy

3 Winning Ways To Provide Unforgettable Experience To Your Customers

Top 3 Strategies to Woo Your Customers
Top 3 Strategies to Woo Your Customers

Summary: If you are not delivering your customers an out-of-world experience, you are not doing enough for your business.

Delivering a world-class customer experience that guarantees customer satisfaction in today’s hyper-competitive world is more important than ever.

The impact of the pandemic has changed customer behavior. And if there is one thing that 2020 has taught us, it is that companies no longer meet the expectations of their customers. They are falling short of expectations by overpromising and under-delivering.

A study by American Express states, ‘around 60% of people are willing to pay more if an enhanced customer experience is guaranteed.’

“If companies focus on delivering instead of making false commitments, they can surprise their patrons by giving them more than they can ever expect to receive”, says Dr. Vivek Bindra, the best motivational speaker in India.

Companies need to identify the trending patterns and customer behavior to build strategies in the near term.

Here are the 3 crucial strategies that will help your business to woo customers:

1. Retain Existing Consumers

“It costs 5 to 25 times as much to attract a new client than to retain an old one” states a report published by Harvard Business Review. Hence, more focus should be on retaining the old customers. Bringing customers back after their first purchase is crucial.

A customer journey consists of various touch-points that together add up to the experience they get upon interacting with a brand or a company. One way to do this is to understand the fact that customer behavior is constantly evolving.

Observing the current trend and pattern is important. Seeing the world as a pool of potential customers can help companies and small businesses to organize better and mobilize their employees around the customer requirements.

2. Creating Brand Advocates

If you ask a business coach what is the best way to create loyal customers? They will reply in unison- catering to all their needs and requirements. When you fulfill the expectations of your customers, you may have turned them into your brand advocates. No wonder what experts may believe, word-of-mouth is still the best, most trustworthy, and credible source of advertising. For instance, if your friend shares his experience about a respective brand, you will believe your friend more than any advertisement. So when you over-deliver your customers, you give them a surprise factor. And this turns them into your brand advocate.

Advocates are often regular shoppers, willing to spend significantly on products they love. These brand advocates may not have much social influence. And their advice and endorsements can be exposed far and wide through various digital strategies. They are passionate about a brand and loyal to them. Connecting with these folks will have a longer-lasting effect than trying to approach an influencer who’s probably bombarded by other pitches.

3. Build Strong Connections with Customers

Companies need to interact with their customers across multiple channels (website, live chat, social media, and more). While the customers appreciate the candid interaction across multiple channels, they want it to be consistent.

Brands should focus on customer experience and must invest heavily in it. Customers do not want to do business with a company that ignores their requirements. Hence, you can build strategies to give your consumer a world-class experience. Once you learn how to cater to your customers’ needs, you can win their loyalty for a long time.

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
Finance Motivational

Top 5 Investment Lessons From Rakesh Jhunjhunwala For Young Investors

Top 5 Investment Lessons From Rakesh Jhunjhunwala For Young Investors
Top 5 Investment Lessons From Rakesh Jhunjhunwala For Young Investors

Summary: Rakesh Jhunjhunwala is an investor with a midas touch. He is famously known as the Warren Buffett of India. Here are five investment lessons that will turn you into an ace investor.

Want to become a successful investor? Then why not learn from someone who has turned his 5000 rupees investment into INR 39,527 crores. Rakesh Jhunjhunwala, who is popularly known as India’s Warren Buffet started trading in the stock market back in 1985 during his college days. At that time BSE Sensex was at 150 points. He started investing with Rs. 5,000 as capital.

According to Forbes, his net worth stood at $5 billion (Rs 39, 527 crores), as of July 5, 2022. Rakesh Jhunjhunwala is not only one of the most successful investors in India, but he is also the most trustworthy and sought after by business moguls.

If you too want to learn some of the most useful lessons from the stock market, here is a list:

1. Don’t Rely on others Develop Passion For Stock Market Instead

When it comes to investing in the stock market, most often people rely on others for investment tips or suggestions. But Rakesh Jhunjhunwala suggests otherwise. His advice for the investors is to develop a passion for learning about the stock market by reading and talking with people who are seasoned investors.

Sharing his own experience he says that he used to ask his father about the nitty-gritty of the stock market. And that fascinated him, which eventually led to his passion for investing. Initially, he failed multiple times, but his interest never seemed to fade away.

You too can hire a business coach who can give you sound advice based on his years of experience and knowledge to help you grow your startup business.

2. Patience Is a Virtue

Investment is a long-term proposition. If you are looking to make some quick bucks, you will have to face disappointment. To become a successful investor, you need to be aware that it will take a decade or more to see the results of your investments.

Rakesh Jhunjhunwala is a long-term investor. His investments did not give results overnight. He’s been investing in Titan Company Ltd, for over two decades now and has made over 1,000% returns on his initial investment in the stock. He says, “one should always invest in a company’s business, not its stock.” He does not sell shares even during a short time drop or stock market corrections.

3. Be Ready to Grab an Opportunity

One of the most key lessons from Rakesh Jhunjhunwala is that as an investor you should be ready to grab an opportunity. He firmly believes that the volatile nature of the market is what creates opportunities.

According to him, as an investor one must have the risk-taking ability. And you will never make money if you are afraid to lose it because the stock market is a game of nerves. Stock market success depends upon your character and temperament rather than on any other factors.

4. Avoid Investing Money Impulsively

Some people invest in a stock and that stock goes up. So, he or she decides to invest in another one impulsively rather than thinking logically. Making an emotional investment is one of the biggest mistakes that anyone can make while investing.

Jhunjhunwala believes that investors should learn how to control their emotions and behave like machines when it comes to making an investment decision. If you are a consistent investor, you need to have faith in the economic cycle and your investment philosophy.  To be a great investor you need to go against your impulses and instincts and embrace some counterintuitive behaviors.

5. Invest in Businesses which is Hard to Replace

Always find businesses that offer products and services which are irreplaceable. Investing in such businesses will give you a competitive advantage. Rakesh Jhunjhunwala invests in businesses with wide moats when investing. Investing in such companies, he believes, gives investors a competitive edge of their own.

Just like stock markets, it is essential to make decisions that are good for your business growth. And to ensure that you are on the right path, you can hire a business coach.

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
Business motivation Process & Business Expansion

Hiring a Business Coach? Here are 5 Key Reasons You Should ASAP!

Five Key Reasons Hiring a Business Coach is a Brilliant Idea
Five Key Reasons Hiring a Business Coach is a Brilliant Idea

Summary: Having a business mentor is important if you want to achieve your goals in life. If you are an entrepreneur who has just started his journey, you should hire a business coach. Getting yourself a mentor who can guide you with his years of experience and expertise is the best way to achieve your goals.

Let`s say you want to go from point A to point B in your city. You are new to the city, and only have a basic idea about the medium of transport. Now there are three ways to find how you can get there.

The first way is to figure it out all by yourself. This might require you to get around the city and walk the streets in your quest to find the right one. This could be time-consuming and frustrating. You might reach or you might quit before reaching your destination.

The second way is to ask for directions. You can ask random people on the streets. While some might point you in the right direction, others may send you in the opposite direction. Nonetheless, you will waste a lot of time.

Now, the third way is to use GPS or Google Maps. A map will guide you turn by turn along with telling you the shortest route saving you from traffic jams. You will save time, frustration, and confusion. You will reach your destination easily. A mentor is just like GPS who will give you directions and help you to achieve your goal on time.

Many entrepreneurs often take the first way, trying everything out instead of getting a mentor. They read books, watch online videos and enroll themselves in random online problem solving courses. This is just like asking for directions from random people who might not be aware of your business requirements.

Here are five reasons why you should work along with a business coach:

1. Mentors Act as Great Navigators

Young entrepreneurs need to understand the right way to achieve success without deviating from their path. Success in any business is a combination of many factors and one of them is to keep updating and learning about business. Your mentor can suggest an online business coaching program for entrepreneurs that can help you to expand your viewpoint. It will help you to resolve problems and will boost your confidence too.

2. Mentors Provide Unbiased Views

Business mentoring and coaching are two different concepts. Your business coach does not have to be your best friend. The objective of a mentor is to help you develop your business. But to achieve that he will have to view your business with a fresh perspective, and unbiased eyes and guide you, instead of solving problems.

3. A Mentor can Help You Set Benchmarks

After the initial discussion, the key role of a business coach is to initiate goal setting and celebrate important achievements to help entrepreneurs stay engaged and enthusiastic.

4. Mentors Can Help You Find Investors

Being an entrepreneur one of the major challenges is to find an investor for your business idea in which you believe with all your heart. Angel investors or venture capitalists are individuals and groups that provide funds to startups with promising ideas. They will be more interested in you once they understand the potential of your business through the eyes of an experienced industry professional who is also your mentor.

5. Mentors Provide Balance

Young entrepreneurs often come up with unique concepts and business ideas. They believe in working in innovative and smart ways while chucking old-school approaches. However, it is always advisable to have a combination of old and new in a moderate balance. Business coaches often adopt smart working techniques, while providing sound advice and constant guidance to achieve the right milestones at the right time.

Mentoring is a long process that demands consistency. While you may feel that you don’t need a business coach all the time, having someone who is an expert and a seasoned professional who you can reach out to anytime provides great comfort.

To know more about a business coach. Visit: www.badabusiness.com.

Categories
Business motivation

5 Best Places To Find A Business Coach

5 Best Places To Find A Business Coach
5 Best Places To Find A Business Coach

Summary: Wondering where to find a perfect business coach for your startup? Here is a list of the five best places where you can start. You are guaranteed to be surprised!

Are you looking for a business coach or a mentor? If you are a young entrepreneur and lack experience in running a business successfully, you should start looking for the right mentor. Working with the right mentor provides plenty of benefits. Not only will you receive guidance and support from an expert, but you will also be able to leverage your mentor`s network of contacts. This may help you in finding new investors, making new clients, and finding more business.

However, the real trouble is finding the right mentor which is quite difficult. Mentoring is a time-consuming process. And, not all experience business owners will invest their time and effort to help budding entrepreneurs.

So where you can find a business mentor who is willing to invest his time and provide guidance to you? Here are some of the places to start:

1. Online Mentorship Community

Though there are multiple social media platforms, none of them are dedicated to only entrepreneurs where they can find the right business coach or connect with potential mentors. Bada Business Community App is an example. With usually little or no cost, you’ll be able to sign up, find prospective mentors in your area of expertise, chat with them and potentially meet in person to begin an extended partnership.

2. Professional Networking Events

Before hiring a business coach, always communicate with them. To initiate a conversation with prospective mentors, you can attend more networking events. Business leaders are always looking for prospective clients, employees, or partners for the future. At such events, you can meet many different areas and expand your network.

3. Fitness Classes & Groups

Business leaders often like to stay healthy and fit. This is why you will frequently find them in fitness classes and other related groups. You too can join Yoga or meditation classes. From there, you can participate regularly and improve your networking along with making your networking strong.

4. Industry Events

If you are looking for a mentor related to a particular field, there is no better place to go than business events. These events include webinars, seminars, conferences, tradeshows, and informal meet-ups. For instance, a few months back Dr. Vivek Bindra organized an event that aimed to enhance leadership skills.

The event was attended by many senior management leaders and successful billionaires. This event presented many opportunities for young entrepreneurs to connect with seasoned leaders.

5. Social Media

You can find mentors by searching for them on social media — especially through publicly available platforms like Twitter or professional-centric platforms like LinkedIn and BB community. With keyword searches, you’ll be able to find mentors that match your criteria, and by monitoring followers and engagement levels, you can determine a person’s reputation and willingness to talk with others.

Never lead with an outright request. Get to know your hoped-for mentor first; and, if you can, offer something of value to begin the relationship.

So, now that you know exactly where you can find a mentor, you may wonder whether it`s necessary to have a mentor in the first place. After all, so many people have become successful without a formal mentorship. But truth to be told, everybody has somebody to learn from. Hence, finding a best business coach can be beneficial for your professional as well as personal growth.

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 Startup

A Complete Step-By-Step Guide To Start A Small Business In 2022

A Complete Step-By-Step Guide To Start A Small Business In 2022
A Complete Step-By-Step Guide To Start A Small Business In 2022

Summary: Starting a business sounds exciting but do you have enough knowledge to build one from scratch?

Nothing excites me as much as the idea of becoming my boss. Apart from having multiple coffee breaks and the flexibility of working at my own pace, it motivates me to work hard and chase my dreams. Every decision that I make will bring me closer to my business goals. However, there is only one hurdle, how to start a small business? Should I take help from a business motivational speaker, or should I work along with a corporate trainer?

Most young entrepreneurs often have these questions while thinking about turning their ideas into a beautiful reality. Starting a business sounds exciting, but how and where to begin?

There are many different approaches. For instance, you can enroll in a business coaching program or get help from a mentor. But what are the exact SOPs that one should follow?

To know the answer, follow this step-by-step guide that will help you to understand the exact SOPs required to start your small business.

1. Refine Your Business idea

If you are thinking about starting your venture, you might already have an idea in your mind. Whether product-related or service-related, do a quick search about existing companies in your industry. Learn about your competitors and brand leaders and figure out which unique features or products they are offering their customers or where they are lacking. You can turn these gaps into opportunities.

Also, find out your USPs. This will help you to stand out. Define your ‘why.’ If you want to be an entrepreneur but do not want to start from scratch, you can also consider taking a franchise.

But what are the factors one should consider while taking a franchise? You can watch this incredibly informative video by Dr.Vivek Bindra here:

2. Know Your Competitors Well

Most entrepreneurs spend more time creating their products (which is good) than they often do to know their competitors well. If you will go to investors, the first thing that they would like to know is what sets you apart from your competition.

Knowing your competitors is as important as knowing your target audience. You can conduct a SWOT analysis for your competitors. It will give you more clarity on what is working in the market. You can also take help from a motivational speaker.

3. Create Your Business Plan

A business map is like a road map that will help you visualize your journey and spot potential problems. This document makes it simple for financial institutions, potential investors, and company management to understand your business. Your business map should include an executive summary, market analysis, organizational structure, products & services, mission & goals, company’s background, financial and marketing plan. You can also work with a business motivational speaker to develop your business plan.

4. Assess Your Finances 

Finance is a significant factor that one should consider before starting a small business. Do you have the means to start your small business, or would you take a loan? If you are planning to leave your job to focus on your startup venture, do you think you have enough money to support yourself until you make a profit? Only 5% of startups survive after five years. Most startups fail because of lack of funds. Hence, it is essential to perform a break-even analysis.

Once you have figured it out, it is time to consider your funding options. There are multiple options, from business loans to government schemes, crowd-funding to fundraising through investors and business grants.

5. Determine Your Legal Business Structure

Before registering your company, you need to decide what kind of entity your business is. A business structure legally affects everything from how you file your taxes to your liability if something unfortunate happens. There are four types of business structure:

i). Sole Proprietorship

ii). Partnership

iii). Corporation

iv). Limited Liability Company

6. Register Your Business

Once you have decided about your business structure and name, it is time to register your brand. If you’re doing business under a name different than your own, you’ll need to register with the federal government and maybe your state government as well.

7. Apply for Licenses & permits

By staying legally compliant, you can keep your business running smoothly. The licenses and permits you need for your business will vary depending on your industry, sector, state, location, and other factors.

8. Open a Business Account

Set up one business account to handle legal, tax, and day-to-day issues. Keep all the required registration and paperwork ready.

Starting a business requires lots of planning, finance, and completion of a series of legal activities.

Hence, if you want to start a business, you can take help from a business motivational speaker.

The idea of managing a business is more straightforward said than done, and we 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 with foundation courses, specialized courses, and value-added courses.

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Finance

5 Simple Tips For Youngsters To Gain Financial Security

5 Simple Tips For Youngsters To Gain Financial Security
5 Simple Tips For Youngsters To Gain Financial Security

Whether it’s a tropical beach holiday or having the home of your dreams, every individual has a different financial future. While some would want to pursue higher education, others might be planning for their retirement plans. Nevertheless, financial security is very important for everyone to lead a life that is free of stress, fear of uncertainties, and anxiety.

Though the definition of financial security varies from person to person, its significance is undeniable. Reaching a stage where you have no worries regarding your financial condition is liberating. So, why not plan for a better tomorrow starting today?

Here are five tips given below through which you can attain financial security in your life.

1. Starting As Early As Possible

We have found that the early bird gets the worm. We all have heard about this adage, and we couldn’t agree more with its implication. When you start saving early, you can expect to save a significant amount of money to support and fund your future dreams.

Committing a certain amount of your salary every month will help you build up those savings in such a way that it will quickly become a habit. If you haven’t started yet, you can start saving at any age. You can decide on whatever amount you wish and can start saving now! Any amount you start putting in today will take you a long way into your retirement.

If you don’t feel motivated enough but have goals, you can take help from a business motivational speaker.

2. Consider Savings Deposits as a Bill

Considering inflation and lifestyle indulgences, people often find it difficult to save every month. However, the truth is that no matter how much you think it is difficult, once you start saving, you will recognize that despite a certain amount deducted every month, it is very easy to continue with your current lifestyle.

To ensure that you don’t give in to other temptations and skip your monthly saving amount, you can get it automatically debited from your account.

3. Use a Tax-Deferred Account

If you are an impulsive buyer, then using a tax-deferred account will be beneficial for you. A tax-deferred account deters you from spending those amounts on impulse because you are likely to face penalties and other tax consequences.

For example, any amount distributed from a traditional retirement account is subject to income taxes in the year in which the distribution occurs, and if you are under age 59½ when the distribution occurs, the amount could be subject to a 10% early distribution penalty.

If you have enough income, you can consider whether you can increase the monthly amount you have decided to invest. Never invest more than you can afford!

4. Diversify your portfolio

One should never put all the eggs in one basket. No matter how old this adage is, it still holds for retirement assets. Putting all your funds into one form of investment increases the risk of losing all your investments. Hence, invest in different schemes to minimize the risk of losing your money.

Asset allocation is one of the most important parts of your retirement assets. Before making investments, keep factors like your age, risk tolerance, and financial goals in mind.

In our masterclass, you will find out the best ways to diversify your portfolio with the best motivational speakers in India.

5. Keep a close eye on your budget

A budget is not a concept that remains fixed once decided. With time and requirements, it keeps changing. There will be plenty of times when you will need to reassess your expenses and fit them into your income. You might also find that you have fewer expenses than you had before. If you have finished paying your EMIs, it can suddenly free up your income. You can invest this money into other investment plans that you may have in the future, like health care plans.

You can learn excellent tips to manage your finances from the best motivational speaker in India—Dr Vivek Bindra.

If your business is buried under a high amount of credit due to bad financial management, you can meet Dr Vivek Bindra, the most successful business coach in India.

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. Visit for more information:  https://www.badabusiness.com/.