Tag: business strategy

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Business motivation

5 Important Things To Keep In Mind Before Buying Any Franchise

5 Important Things To Keep In Mind Before Buying Any Franchise
5 Important Things To Keep In Mind Before Buying Any Franchise

In today’s time, young entrepreneurs are taking more interest in starting their own startup business. Many entrepreneurs also consult the best business coaches in India to move forward with their business with the help of a business leader.

Though many entrepreneurs already have a business idea in their mind, only a few are willing to ​​start a venture right from scratch. This is why a franchise business is considered the best way to start your startup business.

A franchise business provides a wonderful opportunity to build a business. However, there are also some important questions that an entrepreneur must seriously consider before buying any franchise business that will save them from any unfortunate events and losses in the future. In this article, we are going to tell you about those questions in detail.

1. Conduct a background check

There are two things behind a successful startup business-

  1. A good business strategy and the best business model behind it.
  2. Good leadership plays an important role in making a business successful.

Whenever you think of taking a franchise, you should research its founder, its business model, and also the reasons why taking a franchise of a particular business will be beneficial for you. Conducting background research will also help you to resolve all your queries and help you to make an informed decision. You can also get help from a business coach in India to navigate through all the possibilities.

2. Evaluate the franchise cost

You may have a good budget for starting a franchise business, but before you choose to invest its cost you should evaluate it. When you plan to buy a franchise of a business or a brand, compare it with the market price of other brands to get its actual evaluation. If you become a part of any franchise business without knowing its value in the market, then you may have to bear the loss in the business shortly.

3. Check the financial stability of the company

Whether it is an individual or an organization, the only way to emerge from any crisis is to be financially strong. Before starting any franchise business in India, you should also get information about the financial strength of the company.  It is important to do a fundamental analysis to figure out if something happens in the market, will this company manage to come out of the crisis? Can it overcome any financial crisis? You should ask the founder these questions before making any decision

4. Find out the number of outlets & their success rate

Do you know how many outlets of the franchise you are deciding to purchase exist in the country? Also, how much is its success rate compared to the rest of the franchise of other brands? Whenever you think of buying any brand’s franchise, you should also ask those two questions. The success rate of the franchise will directly affect the franchise you run, so you should know where the company you choose stands in the industry.

5. Know the support system of the organization

The most important thing when considering a franchise for any business is to consider how much support the brand you choose provides you. Will it provide you with the required business training? Will you get to learn important business tips as well as other nuances that are crucial to attaining success? Does your franchise brand help you choose good staff along with a good location? Ask these questions before choosing a franchise business in India.

A franchise business is probably the only business that helps you to setup your own business without having to start it from scratch. The initial hustle is less. But it is important that before choosing any brand, you should check these five things to help you make a good decision.

Are you looking to find solutions to your burning problems? Get practical solutions easily with our step-by-step learning strategies, action plan, and frameworks that are designed to empower you with various business functions. From finance to HR, and digital marketing to IT & Sales, find creative solutions to prominent business challenges through our problem solving courses. Click here to find out how these courses will benefit you: https://www.badabusiness.com/psc

Categories
Startup Strategy

4 Growth Hacking Techniques To Make Your Startup Grow

4 Growth Hacking Techniques To Make Your Startup Grow
4 Growth Hacking Techniques To Make Your Startup Grow

Every entrepreneur wants his business to grow into a successful venture. However, the journey is not that easy. Scaling and expanding your business is difficult. There are many challenges down the road. But with the right growth strategies, scalability is possible.

To scale and grow a small startup business, entrepreneurs must adopt various growth techniques. It will also require you to interact with customers daily to create a meaningful customer relationship. And so much more!

Although some of these growth techniques are quite fresh, they have proven to be effective and play a vital role in the growth of the modern-day business. All you need is to de-clutter your mind and shift your perspective a little to identify the most effective business growth hack.

But first things first!

What exactly is growth hacking?

The entire concept of growth hacking is an experiment-driven technique to determine the most effective ways for growing a business. This vast concept includes a blend of development, marketing, engineering, design, data, and analytics.

If you are wondering if growth hacking is legal, why it has the term ‘hack’ then let us tell you that a hacker finds a quick, cost-effective but innovative method to attain growth instead of following the traditional processes.

Though, there are many existing growth hacks, here is a list of 4 strategies that will take your small business to the next level efficiently and quickly:

1. Build a Pre-Launch Email List

Email marketing though is an old method but remains the king when it comes to an effective growth strategy. It is quite an effective method when it comes to finding both leads and conversions. If you are launching a new product or a service, you can also create hype through email marketing. But, don`t just create a list of email addresses and sit idle. Take a few weeks to build up the hype and make your audience wait eagerly for the product or the service you are about to launch.

2. Create Unique Selling Point

Creating a unique experience for customers is necessary in the business world. There must be plenty of other business owners selling the same product as yours. Then why a customer should buy your product? How your product will solve the immediate problem of the consumer in the market will make the ultimate difference.

Sell the benefits and tell your target customer how their life will be changed after they purchase your product. Consumers want to know the stories behind your product, and not about your product. You can also take online courses for entrepreneurs to gain in-depth information.

3. Know your Competitors Well

Knowing about your competitors is necessary to stay ahead. Hence, do a market analysis and research about your competitors. Find out their key selling points and build a strategy that will work for your product. This is an excellent growth hack for small business owners who are in the early stages.

4. Create Strategies Tailor-made for Your Business

In this digital age, creating a marketing strategy that is tailor-fit for your brand is a little tricky. But, if done properly, it can fetch more customers and boost sales. Small business owners can deploy creative growth hacks to pull more customers to their platforms by email marketing, product recommendations, visually appealing ad creative, and identifying high lifetime value (LTV).

These growth hacks, if implemented quickly, can be quite effective for small business owners. A planned approach is necessary to scale these experiments.

Learn what works for what, not for your business. Find a customized business strategy as per your requirements with our Problem Solving Course.

Categories
Leadership Funnel Strategy

Make Your Business Pandemic Proof With Powerful Booster Dose of LFP 2.0

Make Your Business Pandemic Proof With Powerful Booster Dose of LFP 2.0
Make Your Business Pandemic Proof With Powerful Booster Dose of LFP 2.0

With the onset of New Year 2022, a new variant of the virus has stuck our nation once again! Where large organizations have adopted the hybrid model of working, small business owners are again worried about the future of their business due to slow business operations. However, many startup owners are taking their venture to new heights despite the lockdown and other business challenges. How? Because they are good leaders!

Good leaders are indispensable, not just for an organization but also for the success of the business. Hence, organizations and business leaders need to train themselves for the right mindset and clear goals-especially when it comes to entrepreneurs.

Successful entrepreneurs are defined by three characteristics- 1. They are powerful risk-takers. 2. They can navigate through uncertain times. 3. They are highly ambiguous explorers. These three traits are critical for anyone who wants to grow as they enable a leader to perform, analyze and find solutions.

A strong entrepreneurial leader can turn problems into an opportunity that not only benefits the organization, but also contributes to his or her personal growth, and society at large. And at Bada Business, Dr. Vivek Bindra strongly believes that entrepreneurial leadership is both a mindset and a skill set. And the best part is that it can be taught!

And with the booster dose of Leadership Funnel Program 2.0, this program will help you to create opportunities for your business and will enable you to lead change, create value across business and society, and solve business challenges. To catalyst your growth, Dr. Vivek Bindra is bringing a powerful booster dose of Leadership Funnel Program 2.0 that will deliver the unique content of 300 days in just THREE HOURS! This course is designed to develop a mindset that will help you to see opportunities where others see challenges and acts as a muscle you can strengthen with the right practices and strategies.

Dr. Vivek Bindra—the best motivational speaker in India will be explaining 26 Strategies that will make your business-Pandemic Proof! Here are 26 strategies that will help your business to grow despite the challenges:

1) Capture the Inconvenience

2) Market Research

3) Talent Acquisition

4) Talent Engagement

5) Talent Retention

6) Talent Off Boarding

7) Team Management

8) Startup Metrics

9) Bait and Hook Model

10) Intellectual Property Rights

11) Design Thinking

12) Brand Positioning

13) Product Pricing Strategy

14) Reduce your COCA

15) Product Packaging

16) Creative Business Cards

17) 10Cs of Content Creation

18) How does a Brand become Viral?

19) Must-Haves in your Ads

20) 5As of Marketing

21) Online Reputation Management

22) Performance Management

23) Billion $ Business

24) Passive Income

25) Designing Effective KRA – KPIs

26) Project Management

So why not give your business the growth that it deserves? Do not forget to attend the powerful booster dose of LFP 2.0 on 26th January 2022.

Register Now: https://badabusiness.com/lfp-booster

Categories
Strategy

9 Killer Lead Generation Strategies To Sky-Rocket Your Business Sales

9 Killer Lead Generation Strategies To Sky-Rocket Your Business Sales
9 Killer Lead Generation Strategies To Sky-Rocket Your Business Sales

Whether you are an entrepreneur or an established brand that has lost its spark in the business world, digital marketing can give you unprecedented opportunities to attract and convert leads.

Digital marketing is the undisputed king of the digital world. A lead generation is a process of attracting and converting your prospects into customers.

So, why lead generation is essential for your business?

For the obvious reason that it can lead to more sales that ultimately means more revenue. The more leads you will have, the more robust your business will be and the profit too. However, no set pattern will prove to be a hit with your customers.

This is the reason that you must experiment with different avenues to help you reach a wide variety of people. When you are focusing on generating leads from organic traffic, it is important to diversify your efforts and implement different strategies to convert more people.

1. Research For Keywords & Hashtags

Organic traffic relies on your ability to understand how your target customers and other prospects are looking for your products and services on search engines. You must know relevant keywords for your business, along with the competition of those keywords.

Incorporating well-researched keywords and hashtags can optimize your website or social media page, making you more visible and easily searched.

2. Understand the Personas

Before you begin writing your next blog, shoot a video or redesign your website for its big launch, it’s highly recommended that you create a ‘Buyers Persona’ so you know exactly who your target audience is.

A buyer`s persona is understanding your target audience. Their age, gender, religion, region, buying behavior, how they spend their time on the internet, and their buying behavior can give you some rare insights that will prove beneficial for your business.

Once you understand who your target audience is you can begin the process of creating content that will resonate with your prospect.

3. Pick your Social Media Platforms Wisely

Sharing your posts, blogs, and videos across social media will increase the chance of your content engaging with your audience. But it is recommended to research to find out which platform suits your product or service the best. Every social media platform is just another search engine that’s waiting for your keywords. So don’t stop at just one!

4. Publish Interactive Content

Whether it is B2B or B2C, interactive content is a hit amongst the customers across social media platforms. The most popular is the online quiz when it comes to B2C. These quizzes can be anything related to the current trend, viral event, or something about your product and service.

Interactive content is highly compelling as the cycle of input and feedback keeps the audience glued to their seats. However, if done wrong, it can be cheesy as well.

5. Use Product Videos

If you are good at weaving stories then you can make your content videos. Videos in today`s world can work like a charm with your target audience. Videos can increase landing page conversions even when people are not watching them completely. You can hire a graphic designer and a video editor can bring your stories to life with amazing graphics, reels, and videos that will help you to generate leads.

6. Set the Frequency

The more good content you create the more organic leads you will generate. But, it is essential to set a frequency. When your audience is online and more engaged should determine your frequency of posting.

Where less posting can lead to less engagement and audience reach, too much posting can make your audience ‘unfollow’ you. Be sure to check your social media insights and analytics as they can guide you to come up with powerful content marketing strategies.

7. Be Consistent in posting

When you are looking to increase organic leads, it is important to be consistent in posting content. Both your audience and search engines value consistency.

8. Check the Analysis

Understanding the keywords and posting relevant content is very essential to your understanding of organic traffic. When you understand your target audience, it is easy for you to analyze where your website is ranking highest, or which blog, article, post, or poll is bringing massive engagement. This will help you to find out where your organic visitors are landing on your websites.

9. Modify to Make Engaging Content

Once you have done the analysis part, it will give you a fair picture of what is working and what is not with your target audience. You can modify, add or subtract a certain dimension from your content to make it more engaging.

Organic leads are your potential customers who might be interested in your company or a specific product. By using the above-mentioned strategies you can engage a wider audience to convert more leads.

You can boost your sales easily with the right guidance of a business expert.  Learn to generate high revenue earning products for sales, generate payment links for customers, managing account-related details. Solve your problems in just one click with a personalized coach. To know more about business coaching program, visit: www.badabusiness.com

Categories
Strategy

5 Smart Strategies To Give Your Seasonal Business An Off-Season Boost!

5 Practical Ways To Give Your Seasonal Business An Off-Season Boost!
5 Practical Ways To Give Your Seasonal Business An Off-Season Boost!

Whether it’s a rush of rustling leaves, or the cold days and nights during winters, kites flying competition in August, or nights bedazzled by bustling crackers, seasonal businesses are often faced with the challenge of generating a recurring revenue stream throughout the year.

But, if you can think beyond the obvious, you might find multiple ways to keep the cash coming in all year round. How? With your creative thinking!

To save your business from becoming cash-strapped during the off-season, you will have to think above the ordinary, learn more about your customers, and test new ideas—even if they are a little unconventional.

You can also watch 10 effective strategies by the best motivational speaker in India by Dr. Vivek Bindra here:

Here are five ways that might look simple but are super impactful when it comes to boosting your business even during the off-season:

1. Extend Your Season

One of the biggest mistakes by small startup businesses offering seasonal products generally make is that they start selling their products or services only when their season kicks off. Kicking off your marketing earlier can broaden your selling season and will generate revenue.

Another thing that business owners should never do is to hold sales and promotions immediately after the season is closed. Selling your products even after the season ends can make your season last longer.

2. Generate Off-season Excitement

Just because people burst crackers only in Diwali or fly kite only in August on Independence Day and in February to celebrate Makar Sankranti, doesn’t mean you can`t get your audience excited about your business.

Try to make content and play upon building the excitement about your products by providing early bird offers, off-season discounts or launch a new line of products, before the season. This will make your audience excitedly planning for the time they can take advantage of your products and services again.

3. Look for Niche Markets

Seasonal businesses can often find income supplements serving niche markets. For instance, a bakery that bakes birthday and anniversary cakes during a peak or tourist season may also find success even in the slow months by baking products that sell evenly during a year to a smaller audience. If you have started a bakery, you can add gluten-free brownies, loaves of bread, and various other sugar-free products.

When you make the majority of your income during a season, you can supplement it by finding a smaller market with a need that is seasonless. You can also develop a specialized product to expand your sales.

4. Go Where the Season Is

Raj Kumar a small business owner has a store based in Karol Bagh. He has a business selling woolen track pants that are best suited to combat the winter chills in Delhi. But during the slow summer months, he began to notice a stream of orders from colder regions within and outside India, where winter was always in full effect.

As he began to explore the other market in different regions, it made up as much as 70 percent of all orders from March through August. So if you have a business of seasonal products, you can explore the other markets across the country that will help you to generate more and steady revenues.

5. Add Complimentary Products & Services

One of the best ways to make your seasonal business work throughout the year is to add up new products and services to serve the various other seasonal needs of your customers. If you have a store of woolen coats, you can add up a new line of blazers that can be worn in summers too.

Today, many organizations have fixed a dress code and cotton blazers are in great demand too. You can start offering cotton blazers to your customers and ensure a well-performing business throughout the year.

The above-mentioned strategies will help you increase you’re your business sales during the off-season. You can also watch the most informative video by Dr. Vivek Bindra, the best motivational speaker of India in which he explains 10 strategies to boost your business sales even during the off-season.

The idea of managing the 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.

With the help of a personalized business coach, you can get your marketing game back on track. Grow through self-learning and see your website traffic increasing with marketing collateral designed especially for you. Learn more here about the course: www.badabusiness.com.

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
Startup

5 Business Strategies That Can Run Business Without You

Learn the art to build a business which runs on its own

Business Strategies
defines your business, Do you work for your business, or does your business work for you?

  • If by any reason you can’t look after or run your business regularly then will your business will be affected?
  • Would your business still succeed, would it merely survive, or would it suffer a tragic failure?

These are some obvious questions that every business owner must answer. We tell you 5 Business Strategies run a business without your daily involvement:

1. Decide on your goal

The first business strategy is to decide what your objectives are. Are you in business to scale or is it only a passion that you are growing? Do you want to continue to do the work yourself, say, like a software engineer or chef? Or a business is desired which can be run without your regular involvement?

  • For example, if you decide to continue to do the work yourself, then you will not have the time to build a business. You can hire associates to help the company bring in more revenue, but that revenue is split among the partners. So, this will not work as that business model will be run by other partners.
  • A professional like a CA, Doctor, Lawyer is a professional. They are still an entrepreneur but more like someone that is employed by his own self.

The first basic Business Strategy starts with you deciding to step away from a managerial role and bring a leader attitude towards everything.

2. Narrow the service you offer

Another important business strategy is to take a decision as a leader to streamline the work. Remember only process can scale.

  • For example, if you provide SEO services, and, for a typical client, you did everything from on-page optimization to building backlinks to PPC advertising. To make any business successful and scalable you need to choose the services in which you are skillful enough to deliver.
  • For example, let’s assume you just focused on GDN advertising then you become the specialist in that one particular area. It’s really important for you to be passionate and proficient about the work you choose.

When you narrow the service that you offer, you become a specialist. Specialists can be professionals or they can become leaders and build a large scale business. Specialists always command more value. Also they can always train more people to work for them in a certain defined process.

This is exactly what you must learn. Be a specialist and create a process that can be replicated by other people.

3. Train people to unlock your time and then build a team that repeats this process

Now that you’ve got your goal defined and services are narrowed, the third business strategy to apply is to start hiring smart talent that can unlock your time.

  • The business strategy applies here is, you don’t have to hire the best talent. You only have to hire competent and passionate people.
  • Important thing is to manage these newly hired staff effectively, you need to have a leader’s attitude and set an example in the company. This involves planning, predictability, control and culture.

4. Use technology for business automation

Business automation is the key. You must understand what technology will help you automate process, increase people’s efficiencies and save time. All technology must lead to an improvement in people and processes.

To understand business automation better, subscribe to the Busyness to Business problem-solving course by Bada Business. Download the Bada Business app or call 9810544443.

5. Hire your successor

At this point, you are now prepared to do one of the most important aspects, now the final Business Strategy would be to hire someone to take your place.

Prepare a plan to hire your successor within a particular time. That plan should answer the following questions:

  • When do you want this to happen? In one year? Two? Three?
  • Who will be your successor? Will you hire someone from in house team or from other sources?
  • What are the qualities required that are important to this position? Strategic thinking, risk taking or talent management?
  • What are the technical competencies that are important to this position? These will be specific to your industry.

These are the five business strategies for creating a business that can run on its own, especially helps you out when you reach that point where you can step away for few months and not have to worry whether you will have a business when you come back.