Tag: Business strategies

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Startup

5 Small Startup Business Ideas To Start In 2022

5 Small Startup Business Ideas To Start In 2022
5 Small Startup Business Ideas To Start In 2022

Leaving a 9-to-5 job and starting a small online business may seem like a giant task, especially when the capital is limited. Daily tasks like logistics, managing inventory, marketing, etc., often send chills down the spine of beginners.

Building a successful business is an arduous journey. However, if you have the right plan and the right business strategies, your business can reap benefits for its founders, stakeholders, and several others who depend on it for their livelihood. Today, with a great business idea and the Best Motivational Speaker in India, you can start a small online business with a minimum investment.

Here are five small online business ideas that can be started even in small villages and rural areas.

1. Retail Business

Rural areas generally have more people as compared to urban areas. Hence, consumption and the demand for essential goods are always high. But the supply is relatively low. Opening a small department store or a Kirana store in these areas can be a good, small investment for people who want to start their own business.

2. Artificial Jewelry

If there is one thing after food that never goes out of fashion and demand, it is beautiful pieces of jewelry. The best example of it is that even during the COVID-19 pandemic when many businesses were shut down, the demand for artificial jewelry pieces remained.

There are portals like Trade India where people can create an online shop to contact good manufacturers for procuring and selling jewelry. First customers of the business can be your friends and family members, who can endorse your products in their circle. To grow your online business, you can consult with a motivational coach for entrepreneurs.

3. Home Bakery

If you have a thing for bakeries, you can also start your own bakery business. This business does not require a large investment. You only need a minimum investment to procure an oven and buy ingredients for baking. When starting on a small scale, there is no need to do branding. However, it is essential to focus on quality and deliver a product that customers will relish. This business can be started with an investment of between INR 15,000 and INR 25,000.

4. Homemade Candles

In the last few years, many people have become inclined toward aromatherapy and scented candles. Candles are a wonderful way to enhance the interiors of homes and for gifting purposes. You can start this business online with a minimal investment, either by manufacturing it at home or procuring it from a third party.

You will need wax, wick, molds, thread, aromatic oils, and more to start your business. Apart from this, you will also need to have some candle-making equipment, which includes a melting pot, a pour pot, a thermometer, a weighing scale, a hammer, and an oven to melt the wax. Once your business starts growing, you can also take assistance from Motivational Coach for Entrepreneurs.

5. Flour Mill

Setting up flour mills in rural areas is a good idea. The demand for good quality flour will always be on the rise, especially with most Indians being round-the-year consumers. Opening a flour mill in a village or a rural area is a good small business idea as the equipment is very useful in every harvest season.

If you have a great small business idea, you can begin to work upon it because it requires a minimum investment. To ensure that your business runs smoothly, you can also consult with the best 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. To learn more, you can visit www.badabusiness.com.

Categories
Business motivation

4 Profitable Online Small Business Ideas To Start Under Rs 25,000

4 Profitable Online Small Business Ideas To Start Under Rs 25,000
4 Profitable Online Small Business Ideas To Start Under Rs 25,000

Summary: Starting a small business in an online market is not difficult as it may seem if you have a good online small business idea.

Leaving a 9 to 5 job and starting a small online business may seem like a giant task, especially when the capital is limited. Daily tasks like logistics, managing inventory, marketing, etc., often send chills down the spine of beginners.

Building a successful business is an arduous journey. However, if you have the right plan and right business strategies, your business can reap benefits for its founders, stakeholders, and several others who depend on it for their livelihood. Today, with a great business idea and the best motivational coach in India, you can start a small online business with minimum investment.

Here are four small online business ideas that can be started with a minimum investment of as low as INR 25,000:

1. Artificial Jewelry

If there is one thing after food that never goes out of fashion and demand is beautiful pieces of jewelry. The best example of it is that even during the COVID 19 pandemic when many businesses were shut down, the demand for artificial jewelry pieces remained.

There are portals like TradeIndia where people can create an online shop to contact good manufacturers for procuring jewelry and selling. She further adds that the first customers of the business can be your friends and family members who can endorse your products in their circle. To grow your online business you can consult with a motivational coach for entrepreneurs.

2. Home Bakery

If you have a thing for a bakery, you can also start your own bakery business. This business does not require a large investment. You only need a minimum investment to procure an oven and buy ingredients for baking. When starting from a small scale, there is no need of doing branding. However, it is essential to focus on the quality and delivering a product, which customers would relish. This business can be started with an investment between INR 15,000 and INR 25,000.

3. Homemade Candles

In the last few years, many people are getting inclined toward aromatherapy and scented candles. Candles are a wonderful way to enhance the interiors of homes and for gifting purposes. You can start this business online with a minimal investment either by manufacturing it at home or procuring it from a third party.

You will require wax, wick, moulds, thread, aromatic oils, and more to start your business. Apart from this, you will also need to have some candle-making equipment, which includes a melting pot, pour pot, thermometer, weighing scale, hammer, and an oven to melt the wax. Once your business starts growing, you can also hire a business coach for entrepreneurs.

4. Bedsheets

Starting an online bedsheet business is quite pocket-friendly for founders as the products can be bought in bulk and at a cheaper cost from the manufacturers. Many manufacturers are available on Indiamart and entrepreneurs can connect with them. You can also purchase bedsheets from cities that are famous for their bedsheets like Jaipur, Panipat, Surat, Delhi, and Kolkata.

If you have a great online small business idea, you can begin to work upon it because they require minimum investment. To ensure that your business runs smoothly, you can also consult with the best motivational 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. To know more, you can visit www.badabusiness.com.

Categories
Motivation & Mind Control

5 Effective Tips To Become An Optimist

5 Effective Tips To Become An Optimist
5 Effective Tips To Become An Optimist

Optimism is a characteristic that seems so ordinary but is quite a powerful attribute. From leading a healthy life to better performance at work and satisfaction with your job, it has some seriously positive effects.

Optimism is one of the essential ingredients that makes you successful and can lead to a healthy lifestyle and a more successful personal and professional life. Optimism is the gateway to better health and a livelier as well as rewarding social life.

Being an optimistic person opens the gate of opportunities especially for entrepreneurs. Entrepreneurs have to face a lot of business challenges in their day-to-day life. From raising funds for the initial investment to making business strategies for growth and scalability, it is very crucial to keep a positive mindset and a healthy approach to various problems in life.

So what can you do to become an optimist, if you are more likely to be a pessimist? A motivational video by Dr. Vivek Bindra can give you quick tips and can inspire you to be an optimist. You can watch it here:

If you are more of a reader, here is a list of powerful tips that are quite effective to help you become an optimist:

1. Don`t Let Failure Haunt You

Human beings tend to dwell on their past, especially if we had a bad experience. However, being a prisoner of your past can stop you from moving ahead in your life. Convince yourself that failure is a part of life. It is important to keep moving ahead, no matter what. Learn from your past mistakes and failure and move on. Even Thomas Edison had to cope with 6,000 failures before tasting success in making the first electric light bulb. You can also work closely with the best motivational speaker to gain a more positive outlook on life.

2. Be Present

Like we mentioned in the first point, it is a waste of energy and time to dwell on the past. Similarly, worrying too much about the future can result in negativity that can spiral out of control. One of the best strategies for optimism is to stay more focused on the present.

Be present in every meeting and presentation with your staff and colleagues. Focus on the present and give your best in every moment. Always know that investment in now will result in a positive future.

3. Practice Gratitude

People often complain and whine about what they lack, but very few people feel grateful for the things they have in their lives.  To be grateful for the things you have is another sure-fire way to increase your optimism. When practiced regularly, gratitude has been shown to improve physical and psychological health, reduce aggression, stress, and anxiety. It also improves self-esteem, relationships, and sleeps patterns.

When you appreciate what you have, you have more positivity about all that is to come. Despite facing hurdles and challenges that life throws at you, expressing gratitude can help you to become an optimist.

4. Know no Limits

Humans can be a prisoner of their mindset. Sometimes, the challenge that you are facing currently is not that big. When you stretch your limits, your limits will expand. When you further stretch your expanded limits, your expanded limits will further expand. Work upon your mental blockages and try to think about the challenge from a creative approach. If you feel, there is no way out, you can also take help from the best motivational speaker in india.

5. Think about Your Strengths

Sometimes, one bad event can make us question our self-worth and confidence. However, it is crucial to remember that life is not made of only roses and rainbows. It also has rain and storms too! We all just need to learn to deal with difficult situations. Whenever you find yourself criticizing for a past event, think about your strengths due to which you have also experienced the good moments.

One of the reasons for dissatisfaction is when experience and expectations don`t match. Keep your expectations realistic to be more satisfied with the outcome. And always remember that not everything in professional, as well as personal life, goes according to our wish. The optimist has some powerful effects. To reap its benefits, always present in the moment and be grateful. All of this will result in a positive mindset.

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 exclusive Problem Solving Courses that come with Foundation courses, specialized courses, and value-added courses. To know more, visit: https://www.badabusiness.com/psc

Categories
Process & Business Expansion

5 Reasons To Attend Masterclass On Bada Business Community App

5 Reasons To Attend Masterclass On Bada Business Community App
5 Reasons To Attend Masterclass On Bada Business Community App

For every great thing, you have to pay a price. For so many years, we too believed in this adage. But, since Bada Business has started a series of Masterclass events on their community app, we believe a few things are amazing and still available for free.

The Masterclass webinars on the Bada Business community app are aimed at educating entrepreneurs, solopreneurs, wantrepreneurs, students, and small business owners across several topics related to business strategies, frameworks, investments, funding, stock market, and various aspects of distinct industries.

The webinars have attracted a great deal of interest from professionals and leaders alike, and so far they have welcomed many experts from different industries across India. With so many experts coming and sharing the same platform for the benefit of entrepreneurs, we thought we will take a look at five reasons why professionals should consider attending future Masterclass:

1. To Educate Entrepreneurs

The original purpose of conducting a free Masterclass online was to give small business owners, entrepreneurs, and many SMEs a greater insight into the often confusing world of business fundamentals. The basic education was only accessible to those who pursued management courses from the top Indian universities that are expensive for the majority of the population in our country.

The format of Masterclass is developed to educate individuals in the professional community, broadening their horizons to start their dream projects even with minimum investment. The webinars are aimed to help entrepreneurs to ease out their everyday dealings with clients and customers and potentially use them to benefit their circumstances. Previous sessions covered a diverse range of topics on the stock market, time management, how to increase sales through Google AdWords.

2. Gain Valuable Insights From Industry Experts

For every Masterclass, an external speaker is invited to share his expertise and present years of experience, providing an excellent opportunity to gain insights directly from experts in the field. Topics are chosen based on requests from the audience and a relevant speaker in roped-in.

3. Network with Fellow Professionals

Though LinkedIn is a popular platform for professionals, interacting with fellow professionals from a large community is a different experience, altogether. With up to more than 2000 people attending our Masterclass, we get a unique mix of professionals in every session. The discussion and interaction that follow these webinars are informative and help in building a network with fellow entrepreneurs, SMEs, and solopreneurs.

4. Convenience to Learn Anywhere

Most working professionals, who want to work upon their dreams, often face difficulties when it comes to learning new things from the experts. To make the learning process easy and hassle-free, our Masterclass is conducted on Bada Business Community App and offers convenient slots. From start to finish our webinars last for only 2 hours, so you can be away and back at your desk within no time.

5. Become a Content Creator

Ever thought of creating content that provides value to your users? Apart from attending Masterclass by our experts, you can upload different modes of content i.e. interactive videos, infographics, and images on the Bada Business community app. You can also get constructive feedback from your users that can help you to make improvements. Bada Business community app is an interactive platform where small business owners, entrepreneurs, and SMEs can share a platform dedicated to the business community.

But don`t just take out word for it!

We have received some excellent feedback from people who have attended our Masterclasses on the community app. You too can get a firsthand experience by downloading the app from the link: https://tinyurl.com/nhav2kp6

You too can explore the infinite possibilities that Bada Business community app offers!

Categories
Business motivation Business Startup Ideas Startup Strategy

5 Common Pitfalls Startups Encounter and How to Avoid Them!

Home to 21 Unicorns, India is being the 3rd largest startup ecosystem. The Indian startup has received increased attention in recent years. This simply means that their numbers are on the rise and they are widely being accepted and recognized as an integral part of growth.

Though the immense growth and support for startups that are available in all dimensions is a pleasant change, the cold and hard fact is that most of the startups in India fail within 5 years of their launch, as per a report by IBM Institute for Business Value and Oxford Economics.

There are numerous reasons behind the failure of the startup. But one major reason is due to the lack of innovation. Also, startups that fail tend to repeat the same mistakes that prove costly shortly.

Here is a list of five common pitfalls that every entrepreneur makes at the early stages, but should steer clear of them at any cost:

1. They don`t have a Leadership Team that encourages diversity

Starting our list with the most common but costly mistake that founders usually make is when they begin hiring people for their team. Many entrepreneurs hire people just like themselves. On the surface, this appears to be a sound idea, but the danger lies underneath.  Without people who challenge the stereotypes and the founder`s thinking, a startup fails to identify new opportunities or to spot risks until it`s too late.

Avoiding this trap is essential to make a startup business successful. Startups should hire people who think out-of-the-box and know no creative boundaries. The diversity of ideas, skill sets, and backgrounds are the key essentials of every successful startup.

2. They Don`t Invest Time To Find The Right Venture Capital

Capital is essential. But this does not mean that every startup should rush after it. Speed is important, yes, but without breaks, it will result only in a misadventure. Finding a balance speed to find the right fit is equally essential.

Finding perfect Venture Capital is just like finding the right partner for marriage. Take enough time to find the right match- and avoid jumping at the first or the biggest check.

VCs are always on the lookout for the next Uber, Razorpay, Nykaa, or Facebook. To increase their chances, they may invest in multiple companies and come with a growth-at-all-mindset.

To avoid a situation like that put in a considerable amount of time to find a VC partner that will provide thoughtful guidance, mentorship and will be there for you during the challenges.

3. They Create Products Without Considering Customer`s Pain Points

Too often founders get overly enthusiastic about their ideas related to their product or service. They often believe that once they build a product, customers will come. But building a product or a service without any customer validation or A/B testing can be dangerous for a business.

Instead, founders of startups should always find an alpha customer and then create a product to solve the customer`s biggest pain point. Creating a customer-centric product doesn`t happen by just sitting around a conference table brainstorming. The idea to build an amazing product comes from seeking out and tackling the real problems in the world that already exist.

4. They Lack a Clear, Concise & Focused Go-to-Market Plan

More often than not, startups are known to overestimate the demand for their products. Generally, they also lack a clear understanding of how to bring their big ideas to the market. Entrepreneurs should document a clear and concise path to their profitability. To chart this document they should conduct rigorous research and analysis that challenge their market estimates.

This requires an in-depth knowledge of the strengths and weaknesses of their market competitors. Along with that, they should also determine the company`s proprietary advantage in each market segment it is looking to penetrate.

It is also important to be prepared in advance to be able to shift the business with the technological advancement or according to customer needs. And while adaptability is crucial, having a focused plan is also essential. As a startup the resources are generally limited, thus, it is important to be laser-focused for maximum impact.

5. They don`t build Strategic Partnerships

Many startups think about partnerships just in terms of capital and checks. But startups also require strategic alliances that will help them refine their business models, new customers, scale revenues, and generate market awareness.

By making partnerships with large and established companies, startups can save costs on R&D resources as well as the expertise of their professional team.

Want to know what are the other pitfalls that entrepreneurs should avoid? Know it all from the top industry experts with our Everything about Entrepreneurship course. EAE course will give you access to marketing expertise and essential mentorship.

To know more, click here: https://www.badabusiness.com/?ref_code=ArticlesLeads

‘Completion before expansion’- Invest your money on a complete project

Planning to buy a new home? Know why you should invest your hard earned money on a complete project rather than an under-construction project.

 

 

Categories
Strategy

7 Successful Business Strategies to Help your Business Grow

7 business stretagies

Growth is fundamental for any business`s existence and survival. According to a study conducted in 2017 by IBM Institute for Business Value & Oxford Economics published in Forbes, around 90% of Indian start-ups fail due to lack of innovation, technology, and unique business models.

Although these numbers are more or less the same across most industries, the data highlights the importance of a growth strategy in a business.

Check out 7 key business strategies that will help you grow your business:

 

Bring PPT in Repeatable Business Model

If you think PPT is an abbreviation for PowerPoint, think again. PPT here stands for People Process Technology. Every successful business has a competent team that is process and technology-oriented.

  1. a) PEOPLE- A successful company makes a profit with the help of an efficient team that is a process as well as technology-oriented. Hence, hire people who work on processes and are technologically driven.
  2. b) PROCESS- A business strategy that is accurate, consistent, and efficient is required to run any organization smoothly. Your business model should give accurate results, persistently at a rapid speed.
  3. c) TECHNOLOGY- As technology is getting advanced with each passing day, constructive use of it can take your business to a large scale. A technology-driven business strategy can help you achieve your goals at a great speed with less manpower.

Make RBG Dashboard

‘A dashboard needs to be in the light, focused on K`s in the Key Performance Indicator (KPI)’. Make a dashboard to review the performances of every department in your company. Ensure that every employee in your department is aware of his job role and goals. This business strategy will help you keep a record of every department along with their performances.

CGP Safety Trinity

Cash, Growth & Profit! The combination of these three factors can help to grow your business. Hence, it is very important to see the CGP data for the current month, last quarter, and year to date to come up with a successful business strategy.

Form a CEO`s Team

It’s never a 100 meter-dash, running a business is a marathon. When there are multiple things on your mind, it is hard to focus on growth. Thus, pick up your key performers and make a team that can manage the office in your absence. They can attend meetings, do planning, resourcing, and can also manage the workplace. This way, you can focus on growth, make innovative strategies, and come up with future business opportunities.

Invest in a Good Productivity Tracker

A productivity tracker is an excellent way to keep track and boost the productivity of your employees. It detects and analyzes distractions that may interfere with work.

Reports generated through a productivity tracker can help identify potential productivity issues, increase productivity, employee performance, and allow real-time monitoring.

Main thing v/s Multiple Things

Multiple things take away too much time and can push you off the main goal. Thus, create a ‘things-to-do’ list with important things placed on top and less important things at the bottom.  A successful business strategy is to stay focused on the main activity, execute the plan, and finish it on time to drive results.

Restructuring the Business Model

Passive income is a must, because you may retire, but your money will never retire! Passive income will help you generate business from anywhere and anytime. Hence, restructuring your business model is important to grow your income.

Many businesses do not sustain in the long run in the absence of a successful business strategy. If you want to grow your business read about our problem solving courses that are available on our website.

Categories
Strategy

Business Expansion: 4 Ways to Grow and Diversify Your Business

Business Expansion| Representative Image (Photo Credits: Pixabay)
Business Expansion| Representative Image (Photo Credits: Pixabay)

Businesses are established with the aim to grow and diversify. Expansion is an important step in the life cycle of any organisation. It is impossible for any firm to sustain in long term without expanding its operation and accommodating market demand and changes. If a business fails to grow and adapt to market’s dynamics, competitors will easily surpass it making firm’s existence and substance difficult. Business expansion is hence an obvious next step after the firm establishes itself in the market. 3 Effective Ways to Upskill yourself & Perform Better.

If the business has a strong and loyal customer base, regular and adequate funds, dedicated and efficient team then business expansion and diversification would not be a conundrum. If the industry is also growing, it provides an added advantage as business expansion is aided. However, businesses should be careful about its operating capacity, expanding beyond the present working facility will exert pressure on the businesses’ operation resulting in huge losses. Here are some tips to expand your tips –

10 Lakh महीने तक कमाओ | Low Investment | Business Idea | Dr Vivek Bindra | IBC

Product Line Extension

One of the most straight forward ways to expand and diversify the business is to extend the product line. By introducing and offering additional products and services, firm can easily expand its present spectrum of business. It requires an understanding of the customer’s wants and needs. By continuous evaluation of market demand, the business can identify like and dislikes of the customer and add products to its offering accordingly. Proper market research and analysis is advised before launching a new product. 5 Effective Online Marketing Strategies For Your Bakery Business Ahead of Christmas 2020 & New Year 2021.

Entering New Markets

Another way to expand business is entering new markets. A firm can move into a new market and gain new customers in the process. The new market could be customers in a different location from where firm’s existing customers are or a different market segment within the existing location. This typically means opening up a new location or channelising marketing efforts on a new customer segment. Though it may involve certain costs, but once established in the new market the firm will be able to cover them and earn profits.

Expanding Through Franchise Model

Franchise helps the business to expand itself in all the directions. Franchising is a form of marketing and distribution in which the owner of a business system called the franchisor grants to an individual or group of individuals called the franchisee the right to run a business selling a product or providing a service using the franchisor’s business system. Although franchise costs are high and moving to a franchise model is complex and takes a lot of marketing know-how, but it ensures quick growth and additional income.

Entering E-Commerce Sphere

Another sure shot way to expand the business while not increasing the number of physical outlets, is by entering the e-commerce spectrum. All the firm has to do it establish an online market place, develop a delivery network and spread the word about it. Business can reach internal customers by sitting at its existing location. Various bricks and mortar shops can enlist their products on the already existing web platforms to increase its reach, expand customer base and enhance revenues.

 

Apart from these big businesses with sufficient funds can enter into joint ventures to expand and diversify. They might as well go for merger and acquisitions of the smaller but component firms to grow. In order to survive in long term, a firm needs to scale up its present business operations and activities. However, before taking any decision a careful analysis of the market and the financial position of the business should be undertaken.