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5 Powerful Business Lessons Every Entrepreneur Should Learn!

5 Powerful Business Lessons Every Entrepreneur Should Learn
5 Powerful Business Lessons Every Entrepreneur Should Learn

Summary: Every startup has a unique journey and its share of dos and don’ts. So why not learn from them instead of making the same mistakes again?

Ravi started his first business at the age of 19. Though he had a knack for how to start a business, he lacked how to manage it. So, his business grew quickly with just five employees in three states. His revenue was good, and the business was running smoothly, but because he lacked how to manage a business, things got out of control in no time.

Five years into the business, Ravi was in INR 10,000,00 debt. His dream of entrepreneurship had turned into a nightmare.

So what is the moral of this story? You might know a lot of things, but still, there are a few things that young entrepreneurs need to know.

Entrepreneurship can be wonderful and a fulfilling journey if you build your business the right way. Here are five wonderful lessons that you might want to learn today:

1. Know Your Customers Well

Seth Godin said, “If you try to reach the whole world, you will end up reaching no one.” If you are a “jack of all trades,” you will have a tough time growing your business. Your efforts to grow your business and focus to work in that direction will be scattered.

Hence, it is very critical to know your customer in and out. The more specific you can get to who your ideal customer is the better. It will help you to figure out the best way to find more potential customers. You can also take guidance from the best business coach who can help you to understand the buyer’s persona.

2. Don’t Over Promise & Under Deliver

In the business world, if you promise your customers a miracle, you should deliver one. If you want to grow your business and sustain it in the long term, you have to be the kind of business that always keeps its promise. For startups, there are going to be limited initially on what you can do, but that’s ok. Focus on your strengths.

3. Stay Organized

Whether it is home or work, unorganized surroundings and way of work could be frustrating for everyone: your staff, your customers, and your mental health! Staying organized is important to keep your business running smoothly. A disorganized way of working will repel new customers from doing business with you in the future. To keep your business organized, start simplifying things. This will eliminate the clutter and keep your business operations organized. Find a business coach who can help you navigate the challenges that a startup has to face, initially.

4. Focus on things that will Help You Grow Your Business

One of the most important lessons, which is applicable not just at work, but also in every sphere of life is to manage your time. As an entrepreneur, it is very important to learn where to focus your time. Don`t get distracted by too much information that might appear shiny and bright. Instead, focus on what is essential for the growth of your business and apply it wherever it is necessary.

5. Get Over Failure & Setbacks Quickly

Whether it is Einstein, Thomas Edison or Steve Jobs, or any other successful entrepreneur, one common thing that they share is FAILURE. Entrepreneurs often hold back because of ‘Fear of Failure’.  However, the truth is that failures are momentary set-back and not business-ending events, which send you in the right direction. When you experience failure, you must know that it is not the end of the world. Brush off the dust and move on, determined to come back even stronger. You can also work along with a business coach who can help you spot your shortcomings and direct you to bounce back.

You can have a good idea, but to be the most successful entrepreneur you must know how to turn a good idea into a viable product or service for your business. You can give it all, but it is important to know that it takes time and feedback from your customers to get your best.

So don’t be that “I know it all” entrepreneur. Be open to new learning and stay curious to look at things from a different perspective. Learn these lessons and your business will thrive.

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 courses, visit: www.badabusiness.com

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Business motivation

5 Facts About Business Coaching That Will Surprise You

5 Facts About Business Coaching That Will Surprise You
5 Facts About Business Coaching That Will Surprise You

Are business coaches for entrepreneurs the ultimate saviors of your business? Do they have a magic wand that can fix anything? Find all these answers right here.

When it comes to hiring a business coach or working with one of them, entrepreneurs often find themselves on a two-way street. The reason behind their dilemma is very simple: their inadequate knowledge of working with a mentor.

Many entrepreneurs often believe that they know the business world inside and out. However, when they encounter challenges, they realize that nothing can replace the experience and guidance that a business mentor brings with him/her.

Since nobody has proper information regarding the role that a business mentor plays professionally, most people often think it is a waste of money. However, this couldn’t be farther from the truth.

Here are five of the most common misconceptions we see:

1. Hiring a coach is only for failing businesses

One of the most common misconceptions that many entrepreneurs with stable businesses have is that coaches are only for businesses going downhill. This unfortunate belief keeps many business owners away from learning some of the most key business lessons.

Business coaching can turn a good company into a great one. Take a look at successful companies, and you might believe that they are doing great. However, they too have challenges. While some business owners have a solid business model, others struggle because they just don’t know how to grow. Here, a business coach for entrepreneurs can play a key role in helping company owners realize their potential.

2. Business coaching is therapy

Small business owners often believe that coaching is a way to improve their business. But to treat, a therapist should be distant and objective. But a client is not a patient, and a business coach has to work side-by-side with entrepreneurs to guide them through their challenges.

A business mentor needs to be personal, curious, and invested without getting involved. A coach has to be subjective enough to connect and understand while maintaining enough objectivity to see and understand the path an entrepreneur needs to take.

3. A Business Coach is Like a Cheerleader

People often think it is the job of a business mentor to stand on the sidelines and cheer their clients on. Sure, a business coach is happy for their clients’ success, but coaching is about accountability first and foremost. Also, while every coach likes to pump up their clients with motivation and inspiration, their key role is to see and reflect on what their clients need to do to grow and improve their business needs.

4. A Business Mentor does all the hard work for you

If you think that working with a business coach means that you can simply sit and relax, you will be highly disappointed. A business mentor is more interested in helping you to achieve your goals and create a thriving business model. You can’t bring the desired changes to the organization unless you do everything on your own.

5. Business coaching is a quick fix to all the problems

Coffee is a quick fix as it can surely uplift your mood, but your business needs consistent guidance and support to grow. So, while many think that working with a mentor can grow a business overnight, let us burst the bubble of sweet dreaming. Business coaching is a development process. To achieve your goals, you will have to take the necessary steps. A business coach can show you the path, but you will have to walk down the road on your own.

A business coach talks about your company, its vision, products, and services. He or she looks at your company as a whole and not just at a single attribute of it. It takes a lot of work. So, pick the right business coach for your startup and work towards your goals.

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:  https://www.badabusiness.com/

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Business motivation

5 Real-Life Business Lessons You Can Learn From Billionaire Professors On BB Community App!

5 Real-Life Business Lessons You Can Learn From Billionaire Professors On BB Community App!
5 Real-Life Business Lessons You Can Learn From Billionaire Professors On BB Community App!

Summary: You can`t build great wealth without a strong foundation. Period.

No matter which university you attend and how qualified you are; it alone is not enough to strike success. You can go to the world`s best university and enroll in numerous professional courses, but nothing can beat the experience and knowledge that you gain from those who have been in the industry and riding the waves.

From Dhirubhai Ambani to Gautam Adani, Steve Jobs to Bill Gates many successful millionaires and billionaires have not attended formal schooling. But that does not mean that you should discontinue your education. Take quality education, but also learn from the experts. Enroll yourself in webinars where top industry leaders are sharing their knowledge, experience, and lessons that you might never learn anywhere else.

For such an experience, you can download Bada Business Community App where you can attend a free Masterclass with Billionaires.

One of the major goals behind this unique idea of Dr. Vivek Bindra is to prepare today`s generation for entrepreneurship. Hence, it is crucial for everyone who wants to start their own business to learn from instructors who have practical, real-world experience within a particular field.

Here are some of the major benefits of learning from professors with industry experience:

1. They Can Help You Understand Industries Better

The business world is vast and there are lots of aspects associated with a startup that needs to be understood to grow and scale. There could be dozens of subtopics, theories, and other relevant points that these billionaire professors can impart in their Masterclass with true practicality.

They can help you to ignore the least important and focus on the information that is the most practical and relevant pieces of the pie. They can also help you understand what it means to be an entrepreneur and many other real-world challenges of the business.

2. They Understand Key Skills for a Certain Industry

A successful billionaire from a specific industry knows the nitty-gritty of a business and one can learn specific skills needed for success. These professors have accumulated years of experience and can teach entrepreneurs, students, solopreneurs, and wantrepreneurs to start their businesses and then flourish in that role with their entrepreneurial skills.

Although many organizations provide training to their employees through the best corporate trainers, learning from the top industry experts means bringing a toolbox of skills to daily hustle when managing a startup business.

3. They Have Their Finger on the pulse of the industry

Professors with a specific industry can share the current or recent pulse on a particular industry. For instance, a specialist who is working in a stockbroking firm can share his or her experience with you about what it is like to work in that particular area. What are the factors one should consider while investing their money or what challenges you can expect if you want to make your career in that particular area?

This entire experience might also include how to make clients or what are the upcoming trends you might get to see in that particular field. This first-hand experience is priceless and one can only get this in our Free Masterclass of Billionaire Professors.

4. They can teach about potential challenges & solutions

Our top industry experts have been exposed to a variety of situations and challenges in their relative fields. This helps them to bring that experience and professional expertise to the table. They can communicate these experiences and how they dealt with them in the past, what did they learn, and how you can improvise on them.

For instance, if you want to start your dream venture with minimum investment, you can learn from these experts how to handle clients, build your network, and do marketing of your products and service with zero to a minimum investment. You may read about various strategies in a book, but there is a huge difference between a theory and practical experiences. It can be tough to find this type of firsthand knowledge in a textbook. So why not download the BB Community App now to get a unique first-hand experience?

5. They can help you with professional networking

There is a good chance that after learning from these billionaire professors you will be able to connect with professional connections to a particular field. Why? Because on BB Community App you can find thousands of business professionals who are sharing ideas and working towards a common goal—build their startup.

You can interact with professionals with years of experience or you can bond with young minds that are full of innovative ideas and out-of-the-box solutions. No matter what your goal is, you can fulfill them at BB Community App, which is not just an app for sharing pictures of your breakfast or linking with a common friend but to connecting with a world of SMEs and entrepreneurs.

Download the app now: https://tinyurl.com/nhav2kp6

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Motivational

11 Business Lessons every Entrepreneur should learn from Late Dhirubhai Ambani!

dhirubhai ambani

Known for his futuristic vision and ideas powerful enough to bring the entrepreneurial revolution in the business world, Dhirubhai Ambani is a famous household name in India. The late founder of Reliance Industries Ltd (RIL) has been an inspiration for the youth.

Dhirubhai Ambani`s larger-than-life ideas made India a force to reckon with. His innovative ideas were not only meant to expand his business but also consisted of an excellent opportunity for the nation to grow.

Hailing from a small village in Gujarat, Dhirubhai Ambani dared to follow his dreams. He started his journey with only Re 1. Later, he became one of the biggest business tycoons of modern India. He created enormous capital not just for him, but for all the thousands of shareholders. He has always been credited for unlocking the Initial Public Offering (IPO) culture in India.

Here are 10 powerful business quotes of Dhirubhai Ambani to inspire every entrepreneur in India who dares to dream big:

  1. Only when you dream it you can do it.
  2. You do not require an invitation to make profits.
  3. Pursue your goals even in the face of difficulties, and convert adversities into opportunities.
  4. If you don’t build your dream, someone else will hire you to help them build theirs.
  5. Think big, think fast, think ahead. Ideas are no one’s monopoly.
  6. Our dreams have to be bigger. Our ambitions higher. Our commitment is deeper. And our efforts greater.
  7. Meeting the deadlines is not good enough, beating the deadlines is my expectation.
  8. Challenge negative forces with hope, self-confidence, and conviction. I believe that ambition and initiative will ultimately triumph.
  9. Between my past, the present, and the future, there is one common factor: Relationship and Trust. This is the foundation of our growth.
  10. If you work with determination and with perfection, success will follow.

“True entrepreneurship comes only from risk-taking”. Do you have the courage to take the risk that will lead you to achieve your business dreams? If yes, then take our ‘Everything about Entrepreneurship’ course and get professional guidance to set-up your startup. Click here and take the first step now: https://www.badabusiness.com/?ref_code=ArticlesLeads

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Startup

4 Business Lessons Which Every Entrepreneur Should Take From the COVID-19 Situation

Startup
Startup (Photo Credits: Pixabay)

Mumbai, October 21: The coronavirus pandemic has affected every business around the world. Several companies have been shut, people have been fired and many are on the verge of closing down. The pandemic has taught entrepreneurs some harsh lessons which every owner needs to keep in mind before starting a business.

The coronavirus pandemic has caused changes in mindset, attitude, direction, and the behaviour for organisations, according to CISCO.

Here are 4 lessons which entrepreneurs need to keep in mind after the coronavirus pandemic:

Keep a plan B ready:

No one expected that coronavirus pandemic will have this massive impact and the effect will be lasting this long. Due to the coronavirus pandemic, strict lockdowns were enforced and there were several restrictions. This was not an ideal scenario for businesses to run smoothly. Here comes a plan B in handy, on which you can fall back on if your initial plan doesn’t work.

Every day is not going to be the same. Therefore, as an entrepreneur, if you’re struggling to cope with ups and down of the entrepreneurial journey then it is critical for you to have a Plan B in place.

Hire carefully: Allocate a set budget and then hire accordingly. Don’t overspend on resources which can easily be done with limited resources.

Keep a contingency fund ready: Prepare a contingency fund for emergency purpose. This fund is cash or other assets reserved to address unforeseen circumstances or losses in a business. The role of the contingency fund is to improve a company’s financial stability by developing a safety net that the firm can use to fill emergency needs.

Be Open to accepting new technology:  The virus has emphasised the importance of technology, as it was relied on more than ever for companies to conduct work. From work from home to business meetings, closing deals and interviews, everything was done online with the help of technology amid the pandemic.

 

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Startup

Entrepreneurship Course Introduced in Delhi Govt Schools, Students to Get Business Lessons

Entrepreneur (Photo Credits: Picpedia)

New Delhi, October 9: In order to help students to inculcate the entrepreneurial mindset, the Delhi government schools have introduced an entrepreneurship course in their curriculum.

Delhi’s Education Minister Manish Sisodia believes that this will course will create a new understanding among children from class 9 till 12th. Chairperson and MD of Biocon, Kiran Mazumdar Shaw, interacted with the students of Delhi government school on Wednesday during a digital interaction, as part of the school’s entrepreneurship mindset curriculum. She said, “Entrepreneurship is not just about making money. One needs to have a vision of how they can make a difference in the life of others.”

Last year, as well, the Arvind Kejriwal-led Delhi government introduced the Entrepreneurship Mindset Curriculum for Delhi government-run schools from July, where all students from Class 9 to Class 12 were given Rs 1,000 each as seed money to develop an entrepreneurial mindset.

The teachers working in Delhi government schools were given a week-long training programme. As per the previous year’s report,  the state government had allocated a budget of Rs 40-50 crore to encourage entrepreneurship at the school level.