Tag: Business Startup

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Business motivation Startup

Covid-Proof & Recession Proof Business Ideas To Start In 2021!

Covid-Proof & Recession Proof Business Ideas To Start In 2021!
Covid-Proof & Recession Proof Business Ideas To Start In 2021!

The year 2020 came with its own share of problems. And while we thought 2021 will bring some relief, it is needless to say that this year was nothing less than a nightmare. However, if there is one thing that we all must learn from living through pandemics and lockdowns, it is to understand that a lot can change in a year.

While many people lost their jobs, many others became entrepreneurs. In 2020 along, more than 15 startups joined the elite Unicorn Club.

The pandemic has turned the tables around. Many businesses also went downhill as the year progressed due to the lockdown restrictions and economic crisis. It forced the business world to come up with new solutions and startup plans for new business opportunities.

So even though we were stuck inside our homes, many businesses found a way to stay afloat with the ‘Hassle-Premium’ approach. The bigger hassle a product or a service resolve, the bigger premium a business receives.

With the recent events of 2021, many are not putting too much hope into the year ahead. However, contrary to the popular belief, if you have the passion and unique MSME startup business ideas, this could be a perfect year for starting your company.

If you do not have any ideas, worry not! You can discover 25 Business Ideas that you can start this year with low investment. You can also watch video on this:

We have hand-picked three brilliant covid-proof and recession-proof startup plans for a new business that you can start with low investment in 2021:

  1. Online Prasadam

Every adversity comes with an opportunity; all you need is an eye to spot it at the right time. India is a land of religious culture and tradition. With the lockdown imposed all across the country and the fear of the virus, many religious places in India are closed. People are unable to go to temples, let alone their pilgrim journey to Kedarnath or Badrinath.

However, this also offers a great opportunity to start a business of sending online prasadam. To start this business, you will need minimum manpower. You can set up a call center to offer customers the service of providing online prasadam.

As the customers cannot visit the holy places, they will be more than happy to make their offerings to God. You can charge these customers with a minimum amount and you can deliver them online prasadam after offering it to their respective deities. This will not only make them happy but also give them the inner strength to fight the uncertainties of the current situation.

  1. Office Furniture on Rent

The current COVID-19 pandemic has forced organizations to embrace the concept of work-from-home. Apart from the essential and front-line workers, everyone is working remotely. However, not everyone has a working setup at their homes.

Most people spend half of their time on their beds with their laptops, while others have become a couch-potato. This new normal work routine has given rise to neck and back pain.

One can start a new business by providing office furniture for rent. Where the furniture in many companies is getting mounted with dust and dirt, many employees are looking for an affordable office-home set up. So why not use this opportunity to start up a new business plan?

You can take furniture from the companies on rent and can provide it on rent to those who are looking for a temporary makeshift office set-up right at their homes. Find creative solutions to modern problems, and nobody can stop you from becoming a successful entrepreneur.

  1. Provide Online Tools for Schools

In this new era of learning, technology plays a key role in the process of teaching. If you have a technological background, this can be a brilliant MSME startup ideas. Due to the pandemic, all the colleges and schools are closed. Many small schools cannot afford the expensive setup and technology for online classes. You can develop an online educational tool that connects teachers and students, among many other things.

Not only schools, but you can also provide online learning tools to colleges and institutions as well. You can integrate many other features that will let the administration measure student performance, communication with parents, educational materials, and assessment tests.

Every crisis is an opportunity in disguise. Every breakdown comes with a breakthrough. Every hopeless end can give you endless hope. All you need is true determination, passion, and zeal to follow your dreams.

Every trend comes with numerous startup plans for new business ideas. If you already have an idea but are not sure where to start, then you can take online business training courses. You will a takeaway lot of key learning without which a business can never grow.

If you are an entrepreneur, but your business growth is stuck, you can take ‘Problem Solving Courses’ that cover multiple topics in detail and help you with your business challenges.

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Business motivation Business Startup Ideas Startup Webinar

How to host a successful webinar? Top 3 Impactful ways to Host a Webinar that your Audience will Love!

Webinars are dime a dozen. The webinars have flooded the internet over the past few years. And according to a report by Content Marketing Institute, “more than 60% of the digital marketers are currently using webinars as part of their marketing strategies.”

As successful webinars especially for startups are becoming one of the most effective and profitable ways of attracting potential customers, more marketers are beginning to take advantage of them.

Many of you will find it unbelievable. But do a quick Google search for the term “webinar” and you will be presented with more than thousands of results. You will feel like you have entered into a webinar jungle. But the key is to not get lost in the webinar jungle just yet.

There is a reason why the concept of the webinar is becoming increasingly successful and popular. And out of all, the primary one is- that they WORK!

However, there is a catch. A webinar becomes successful only if done correctly. And guess what, the road is far from easy!

Boring, bland, and beige- most of the webinars are just that. When was the last time you attend a webinar that was exciting, engaging, and informative- all at the same time?

A successful webinar can convert visitors and subscribers into real customers because they have already signed up for it and looking for exactly what you have promised to deliver. People love practical guidance because it helps them.

So if you are looking to host a successful webinar for your business startup, here are the top three most essential and effective ways to have one:

  1. Quality Content is Paramount

If you have decided to host a webinar, of course, you are interested in sales. After all, you are not shedding money for a bunch of free leads to watch your webinar for no reason. However, focusing too much on the end sales and not enough on content is one of the biggest mistakes that people make.

Content is imperative to make a webinar successful. Good quality content is imperative. And you cannot sacrifice with it. Do not ever compromise with the quality for the sake of quantity, speed, or a potential sale. It Never Works!

So how can you create engaging content without ever sacrificing the quality?

There are three components and three simple ways to do it. And to make it easier for you, we are revealing them all, right here.

a). Presentation– Does your webinar looks professional? Do you have a speedy internet connection? What is in the background behind you? Have you practiced sufficiently? Your users will judge your webinar on visual appeal.

Also, it is essential to remain mindful of your customers while creating content. If you are marketing to a less professional audience, less professional materials will resonate more with them.

b). Storytelling– Do you think you are an entertaining storyteller? Can you present your content clearly and concisely? If yes, then you are good to go! If you struggle in this area, you can also hire a ghostwriter or a copywriter to assist you in your webinar production.

c). Interaction- Last, but far away from the least is Interaction. Interact with your audience. Answer their questions. Resolve their queries. Provide feedback and your expertise, all in real-time.

Also, do not talk about your product until the very last of your presentation.  Provide great content first, and sell at the very end.

  1. TIMING is ESSENTIAL

Timing is everything! And when it comes to webinars, it is crucial in a couple of ways.

Firstly, decide when you want to host your webinar. Pick a time that will be convenient for you as well as your audience. Secondly, do not start promoting or advertising your webinar a day before. Start advertising about it at least a month before. Also doing a countdown on your webinar is recommended.

Lastly, decide on the length of the webinar. What should be the duration of your webinar? As your audience is busy, you will be taking a chunk of their precious time. Respect it. And try to keep your webinar for 30-60 minutes.

  1. PREPARATION

Prepare, prepare, prepare as this is the most important key to host a successful webinar for startups. This is not the place to miss it.

Pick an appealing and compelling headline. Shoot a short video, reel, or write a short blog to tell people what they can gain and learn in your webinar and, how that knowledge will add value to their life.

Then start advertising it on all your social media channels. Always ensure that the webinar is free and/or it’s a limited-time opportunity. If this is the first time you are hosting a webinar then practice your presentation skills.

Your speech should sound casual, conversational, and natural. Practice it, until you get it right. Do not hesitate to ask for help. You can also take a professional`s help in nailing the webinar.

With the above-mentioned tips, your webinar will be a hit! Have any of your tips to add? We would love to hear them.

If you want to learn how to host a successful webinar for your business startup, you can take our ‘Problem Solving Courses’, where every business challenge has been provided with practical and easy solutions.

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Business motivation Business Startup Ideas Startup Strategy

5 Important Steps Entrepreneurs must take for the Perfect Product Launch!

So you have a unique idea for a new product that will magically resolve all the challenges that customers in a particular segment are facing. You create a killer product that may bring a revolution to the world. Now you want the entire world to go crazy to purchase it (think about people standing in queue to buy an iPhone).

But none of that happens and you get up with sweat beads all over your forehead. All the hard work and efforts that you have put in to create a product now appear pointless. Scary, isn`t it?

It is extremely easy to get ahead of yourself when trying to create a new product. Envisioning all the sales and profits, recognition, and success that will emerge after your product launch can often take us away from reality. But just like any other business initiative, a product launch also requires time and careful planning.

And, launching your product in the market without having your ducks in a row is a recipe for disaster. Thus, if you have created a brilliant product after investing your hard-earned money and efforts, here are 5 steps every entrepreneur should take before releasing a new product:

1. Be Strategic in Defining your Target Audience

Whether you are creating the new iPhone or a food joint, it is important to find and learn from your core audience. Establish your base and build their confidence in you.

Learn from your competitors as there are no original ideas, only repurposed ones. As you prepare for your product launch, research your competitors. Take from their good, learn from their mistakes and enhance where you think is a scope for improvement.

2. Go All out When It comes to Publicity

Obscurity kills businesses. If you do not shine like a sun when it comes to publicity, you won`t get the attention that is needed to be successful. Before launching your new product, ask yourself two things-

a). How far will I go to get attention?

b). How frequent will I be in my attempts?

If you will not go overboard when it comes to marketing your product launch, you will not get your customer`s attention. Also, having a thorough understanding of the challenge that your product or service is solving is imperative to business growth. It is very surprising to see how it is not thoroughly thought through.

3. Be Clear & Concise about your Target Audience

If someone asks you, “Who is your target audience?” you should have a concise answer. Otherwise, it’s a red signal! Being an entrepreneur is not an easy deal and thus, it is suggested that you should research well about your target audience.

Apart from knowing your audience, you must be well aware of your product`s value. Take testimonials from your client who found success using your product, which can be beneficial for making improvements.

4. Trace & Understand the Buyer`s Journey

What is the foundation of all the marketing and sales activities? The Buyer`s Journey! The process that revolves around the buying process makes the basis of all the activities related to marketing. Thus, it is essential to understand the customer`s pain points, from where do they get their information to, and who influences the purchase. Generally, there are specific events that may trigger a purchase.

5. Focus on Major Media Outlets

Attention is the currency of the internet. An average person consumes an enormous amount of information daily. To hold someone`s attention, cut through the noise. Develop the right media strategy that is suitable for your product launch. Pitch yourself as an expert and focus on high-profile media outlets. However, your pitch must have a sensational hook with actionable advice.

Also, do not just use the traditional medium of advertisements. Use the power of social media and create hype to engage customers. Create strong brand guidelines and ensure that you got the powerful one. Use social media platforms to create a buzz amongst the target consumers.

Another brilliant way to create a buzz around your product before its launch is to reward your customers. Offer discounts for preorders, first-time users, and or something else that can entice users to buy upon launch.

Launching a new product or service is not easy! There are lots of steps involved that can leave a great impact on a product launch. These steps can make or mar your product in the niche market. Know what is best for your product or service with our Problem Solving Courses.  To know more about it, click here: https://www.badabusiness.com/psc?ref_code=ArticlesLeads

 

 

 

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Angel Investor Startup

Best 5 Ways for Entrepreneurs to Raise Funds for their Startup Business!

प्रोडक्शन लिंक्ड इंसेंटिव (पीएलआई)

A lot of entrepreneurs face plenty of challenges when setting up a new business venture. However, there is one factor that is common amongst everyone- to get the right resources and funds essential to kick-start your startup.

While there are plenty of challenges that entrepreneurs face on their journey of setting up their startup, raising funds could be the major challenge. This single challenge could decide the fate of your business venture.

If you too are encountering the same challenges, here are five ways in which you can raise funds for your new venture:

1. ANGEL INVESTORS

This is one of the fast-track methods that can help you to raise funds for your start-up business. An angel investor can take an equity share in your startup in exchange for the money they are putting in. However, they can be exchanged for convertible debt.  Though, one requires to have extreme knowledge of every aspect of the business.

2. PARTNERSHIPS

Partnerships are essential for organizational health. Coupling with a ‘strategic partner’ is always a good idea. A trustworthy partner can help you reduce liabilities, and can bring a fresh perspective into the business.

3. BOOTSTRAPPING

We all must have heard this term multiple times, but very few of us understand the concept of bootstrapping when it comes to fundraising. Bootstrapping is when you build the company up from the scratch with your own money. It is one of the best ways to raise money for your business if you do not want any investors in your startup project.

4. VENTURE CAPITALISTS

Entrepreneurs that are looking for investors can also take financial aid from Venture Capitalists (VC). VC firms invest in the early stages of a startup company in exchange for an equity share. These organizations raise money from distinct sources and mediums and invest this collective capital into the business. This funding along with business opportunities and additional resources can help startups to grow.

5. CROWDFUNDING

Crowdfunding is taking financial aid from small business financing individuals that help startups in raising investment capital. Crowdfunding allows entrepreneurs to reach out to a pool of investors, instead of seeking one big investor.

 

Companies like First Cry, BYJU`s, Nykaa have not only managed to do fundraising but have also joined the elite Unicorn club in 2020. You too can do fundraising for your business by joining our ‘Everything about Entrepreneurship’ course.

Learn the major challenges that you may face on this journey and how to break through them. To know more about this course, click here: https://www.badabusiness.com/?ref_code=ArticlesLeads

 

 

 

Categories
Finance Startup

5 Important Points To Prepare For Your Investor Meetings

Waiting to start an entrepreneurial journey, but freaking out with thoughts about how to conceptualize your business idea? Or have one great idea, but no funds to execute it? Then let us tell you that your journey has just started. Today, investors are looking forward to enduring some great business ideas and invest in those business ideas that can elevate to the next level of success.

The hard part is to pitch your idea to an investor and explain you are right concept without going in the wrong direction. Your months of research work and strategy can go wrong if you are not prepared well for the funding process. In this pandemic, many startups have gained investors in their business, and you must be thinking about what homework you need to have one good investor on board.

Here are a few tips that can help you to generate valuable partnerships or investor for your first meeting-

Make a Pitch Deck

A pitch deck is an important starting point, and your pitch deck categorically asserts the significant aspects of your business idea and product or service. Professionals always like documents and data to run through while talking about your idea. Well, the data explained, and the number shows the hard work you’ve done. It also gives the impression of preparation for the meeting.

Use graphs and pictures to present your strategies. Ensure that your slides are sharp and accurate. It also assists you in not missing valuable points to share.

Describe Your Story

Story narration plays a significant factor while making a pitch to an investor. It’s a human tendency to love stories that inspire them. A well-narrated story always brings an instant connection with a potential investor and helps you to indulge in your idea.

Make sure you display your passion and willing to risk your project. The more passion and commitment you have toward your dream, the more beneficial it will be to you.

The Team You Bring on Table

Most investors don’t generally put money just on the idea you share, but they also put money on the team that will run the concept. Therefore, when you meet, remember to introduce or discuss the team and its Essential Skills. Ensure that they can help you carry the idea to the heights you plan for them.

The main purpose here is to show that you are willing to make an effort to reach the goal you have done.

Industry Updates

For growing and staying in the industry, you should know about the competition also. To creak the opportunity, prepare the list before meeting with the investor. Then showcase how you are different from them. Also, work on a roadmap project to deal with the competition. 

Make a Financial Model

Make sure you have this discussion as your investor will be investing money in your idea until you share your plan on how you can utilize your money. Prepare the forecast of the financial model for the next 5 years. Try to give a clear picture you can provide to the investor.

Make sure, to be honest with your investors. Every investor aims to look for sincerity in the people they are backing up. We suggest you do your homework before meeting them as it will give you a good possibility of raising funds from investors.

 

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Startup

5 Things to Remember Before Starting a Business

Big cheers to the people who have the ambition to start a business. Remember this before you take the first step towards your startup or even if you are at an early stage when working on the idea formation. You need to step back and think about the strategic vision of your business as starting a business can be stressful.

As you start working on its main plan, you think it’s a million things to get done all in one go. There is no lie, saying every new and small business owner have to take care of many things, and it’s tough. Therefore, a little planning can make it more manageable, and help you in taking action towards building your business.

As said by many, a few simple significant steps taken at the beginning of the business can help you streamline things easily. Therefore, we have listed some tips you need to remember to do before starting a business.

Do your Homework on Customer

Make sure you know your industry you are entering so you can dominate it. It doesn’t matter how different or unique you think your idea is, still you need to be aware of the competition. We always believe our business concept is brilliant, but it doesn’t mean anybody else hasn’t thought about that idea.

You start with the research, with your target demographic as is they are the driving force for your decision making. You can’t earn sales or profit without the right customer. It is crucial to make sure you are presenting what your customer need. Once you have researched the right way, then you will get insight into your customer buying decision and save you time for future experimenting.

Give importance to the legal aspect

Always follow the law, always remember this line. It’s one of the significant factors you need to keep the mind and should take while strategizing. In the first step, you should take in starting your business, choosing the right legal structure. At the beginning of the startup, you need a proper registration from the government, and you need to see all other legal aspects like taxes, paperwork, etc.

As an entrepreneur, you need to create the articles of incorporation, obtain an employer identification number, and apply for all required licenses.

Roadmap Your Finances

Every business needs money, which you need to plan from where you will get the capital. A lot of entrepreneurs start a business with limited capital, which is a large hurdle to many. There are plenty of options for arranging funds, but the most common is to seek from family or friends. And if you have exhausted this option, then apply for a business loan under government schemes.

Therefore, whenever you start your business, then make sure your road map completes financing for the present and future.

Know the risk.

That is the fact, there will always a risk with a new business startup. Understanding, calculating, and then planning as per it is a significant step for any new and old startup. Therefore, this means you need to assess your industry risk before entering and moving forward with your plan.

So, before taking the faith of leap in your idea, you need to sit down and talk about all the risks you about to come across.

Time it right

Time is money because timing is a significant factor in setting up a business. Of course, you want to start your business when the economy is healthy, but there is also a flow to decision making that’s important to be aware.

Therefore, the timing should be right where and what you need to think through and take what decision should be taken.

Starting a business can be exciting and challenging, but you need to do your homework and think about all the steps you need to take now and in the future.

 

 

 

Categories
Business motivation Strategy

Visa, IFundWomen Announce Grant Programme to Empower Women Entrepreneurs in India

Entrepreneur (Photo Credits: Pexels)

Mumbai, September 21: With an aim to empower women entrepreneurs in India, Visa along with its global partner IFundWomen on Monday rolled out a grant programme to boost the morale of women entrepreneurs across the country. According to a report by IANS, the digital payments technology leader will seek applications from women entrepreneurs across all sectors till October 20, 2020. IfundWomen is the go-to marketplace for women-owned businesses. The applicants need to submit details about their business and online presence, along with a short video about their business to www.ifundwomen.com/visa-india. Three winners will be selected and receive grants of Rs 7 lakh each and training from leaders within the Visa and IFundWomen network.

Women-owned businesses constitute around 14 percent of the total entrepreneur base in India. To spread the word, Visa said it has partnered with FLO (the ladies’ wing of FICCI) and Instamojo as digitisation partner for the programme in the country. T R Ramachandran, Group Country Manager, India and South Asia, Visa, said, “We want to see this number increase but our interactions with women entrepreneurs show that access to capital to fund, run and grow their businesses remains a challenge”.

The Visa and IFundWomen grant programme in India, the first outside of the US, “aims to boost female entrepreneurship and empower budding businesswomen through our network, guidance, financial support and resources to help achieve their dreams”, he added.

Visa’s partnership with IFundWomen is specifically designed to help women entrepreneurs secure the funding they need through a series of grants. This year in June, Visa had committed to supporting 50 million small businesses globally to power recovery and enable them digitally. In August 2020, through the first India edition of Visa Everywhere Initiative, it awarded three fintech startups with monetary awards and technological support to take their solutions to market, the company said.

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Startup

Starting Up a Business: 5 Things Young Entrepreneurs Should Know to Make Their Business a Success

Entrepreneur (Photo Credits: Unsplash)

It might seem hard to start to a business, but when the entrepreneurial project gets going, the brain behind it rejoices. However, in order to make your business a success, there are several things that you need to consider before you start your business. Young entrepreneur venturing into a new business, keep looking for ways and means to help them achieve their goals. Young entrepreneurs are at an age where they need a platform to prove their caliber. They want to run something of their own, create more job opportunities and be a part of the growing India.

Here Are 5 Things That Young Entrepreneurs Ought to Keep in Mind:

  1. Know your product: The first important thing before starting any business is that the entrepreneur should know in and out about his product. He should first, himself, know what is product is all about, how well he can pitch about it in the market, what is the demand of the product, and so many other related questions. A young individual will always know what is in trend and things that work in a market.
  2. Know your market: Understand who your target audience is! Before starting up a business, a young entrepreneur should very well understand what the need of the hour. Of course, there are other competitors in the market, so a beginner should consider all the risk factors before venturing into something new.
  3. Do what you love: Take your time and understand what you love. Let your passion be the driver for your product or service, which will always keep you motivated and get you going through the tough times. Before starting up a business, one should think with a calm mind as to what one loves because when you work on something that you actually care and love, you’ll probably be happy and make the idea a reality.
  4. Find a mentor: No matter how intelligent you are, you may falter! Hence, it becomes really important to find a mentor who can guide you and let you know when you go wrong. Find someone who can open your mind and share your ideas with. Surely, your ideas will be shaped in a better manner which will be easier for execution.
  5. Perseverance and Patience: The most important trait of any businessman is perseverance and patience. These 2 Ps go hand-in-hand and help people to get better and win laurels in their work. Once you have thought about an idea, don’t give up and work on it until you make it a success. For young entrepreneur, it is an added advantage that they have time, even if Plan A doesn’t work, then be ready with Plan B. There might be rough moments in your entrepreneurial journey but you have to keep working towards your goal.
Categories
Business motivation

Business startup ideas after COVID-19

COVID-19 has taken its toll on the global economy in the most unthinkable and unimaginable ways and the global economy is experiencing an all-time low. This pandemic has inflicted damage and affected the overall health of the MSMEs and entrepreneurship that generate a heavy revenue contributing to the economy. It is crucial to think of how to stay relevant these days and to help you with that, we’ve shared a few start-up business ideas that won’t let you down.

There are some businesses that are either unaffected by COVID-19 or have flourished even more, standing the test of time. In this article, our objective is to introduce you to 4 such industries that have proved themself to be “corona-proof” and can end up being the best businesses to initiate your start-up.

 

1.    Over The Top Platforms/Online Gaming
Nobody can deny the fact that all we have been doing these lockdowns is watching movies and TV series on OTT platforms like Netflix and Amazon Prime Video. This fact itself proved that viewers, who have been quite anxious about the ban on movie theatres and gaming parlours, have resorted to the over the top platforms and online games. The people, especially the older generation, who initially were not very comfortable with the change, are now welcoming this change with an open heart. This shift in the interests of the viewers has proved that this industry will continue to bloom even after the pandemic is over!

 

2.    EdTech
From the worried parents to many of us sitting ideal during these lockdowns, the EdTech industry has emerged to be the biggest support. Where on one hand, students were able to learn from home, millions of us across the globe have leveraged Edtech and enrolled ourselves in many courses. EdTech has not only helped students repair and recover their disrupted schedules, it has given many professionals a chance to develop new skills and hone the already acquired. Now that EdTech has proved its mettle, we cannot help but accept that, come what may, this industry is here to stay!

 

 3. The Health Industry
The health sector has been the one that has evolved dramatically of late. It has been the time where the health and wellness businesses have boomed because of how aware the world has become of their health and well-being. We all must have received this advice, directly or indirectly, to boost our immunity as it will help us keep fit and less prone to the infections out there. Making them most important in our lives in these unprecedented times, they are certainly going to experience a boom.

 

4. E-commerce platforms
We all know how brick and mortar stores have been hit the hardest as people have restricted their outdoor visits in a bid to maintain social distancing. The industry that has leveraged the most out of these restrictions is the e-commerce industry! There has been a major shift in the behavior of the consumer as they were forced to go online to make the necessary purchases. Now that the consumer has started to feel comfortable buying online, they are preferring to buy almost everything online. It goes without saying that this industry is cherishing this rise in the business and riding high on the pandemic boom.