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Business motivation

7 Ways To Build Authentic Business Relationships For Success!

7 Ways To Build Authentic Business Relationships For Success
7 Ways To Build Authentic Business Relationships For Success

You can`t operate a startup business without maintaining strong professional relationships with investors, clients, vendors, and potential customers. A company grows only by establishing meaningful connections with others.

Building strong business relationships starts with acknowledging and recognizing the importance of viewing everyone as a unique person with their desires, motives, and interests. Once, you have understood that the person in front of you is not only a medium to grow your business, but a human being too, you build relationships at a deeper level.

Here are 7 techniques that will help you to establish long-lasting business relationships that will drive sales and growth for your startup business:

1. Offer a Valuable Product & Service

Personal or professional, every relationship starts with an introduction, and sometimes for a business purpose. However, this is the hardest step. A client will approach you because of your extraordinary service or a valuable product that you have created to help them. So, it all depends on how you utilize your strengths.

2. Discover Ways to Provide Additional Value

If you have a startup business, you can begin with finding common ground and identify how you can add value with your time, connections, resources, or expertise to your clients or investors. This can give your relationship a personal touch.

3. Make Your Customer Service Excellent

Ask the best business corporate trainer in India and about the best strategy for growth and relationship building at zero cost and they will reply promptly- customer service. Customer service is that one aspect that can build the foundation of strong business relationships. Work on perfecting every interaction with your customers. Try to maintain transparency. Advertising is no longer as powerful as it was once perceived. A referral army who has used your products can do wonders for your startup business.

4. Make Mutual Success Your Mantra

When you think about others’ success and not just your own, the relationship grows. Nobody wants to work with someone who only has their agenda on their mind. Strong relationships happen when we focus on mutual success and trust.

5. Focus on Relational Value more than Transactional Value

Avoid approaching your business relationship in a transactional nature. Cultivate your network and relationships each day. Meet them and greet them on special occasions. Talk to them to understand their needs, requirements, values, and what drives them. Always remember that it isn`t about you, but about them. They will always remember how you made them feel.

6. Treat Them like Friends & Family

People like to do business with people they like. Treat them like you would treat your family and friends. Take a genuine interest, be vulnerable, be yourself, and show personal interest in addition to the business value that you already offer.

7. Stay True to Your Business Values

Clear and consistent business values can help stakeholders, clients, customers, and even investors to stay in a harmonious alignment with you. Stay prepared for hiring, firing, and losing money for your values as it sends out a strong message about the brand promise and ensures a shared vision.

The shared vision and aligned values make the strong foundation of any startup business relationship with your employees, clients, customers, investors, and other peers.

Unfortunately, entrepreneurs who are creative and great at inventing things often don`t invest much time in building strong and long-lasting business relationships. Though it does take effort and focus, the talent to effectively build relationships can be learned, just like any other skill.

Use the above-mentioned 7 tips to create a strong business relationship with your potential clients, investors, customers, and other stakeholders.

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.

Get your business back on track. Grow through self-learning and see your website traffic increasing with marketing collateral designed especially for you. To know more, visit: www.badabusiness.com

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Business motivation

4 Effective Ways For Entrepreneurs To Scale Their Business With Ease!

4 Effective Ways For Entrepreneurs To Scale Their Business With Ease!
4 Effective Ways For Entrepreneurs To Scale Their Business With Ease!

Are you a small business owner or an entrepreneur who now looking for effective ways to scale your business? If your answer is yes then reading this article is a must for you. Why? Have you ever wondered why do some companies grow rapidly, while others stay at the same level for decades? You can find the answer in this article.

So let`s imagine a business as a car. Startup businesses that grow successfully like those cars which upon reaching the limit of possibilities, change the engine to a turbocharged one, refuel their tank, hire top drivers and mechanics, make essential modifications in the structure to make it lighter, and then take the vehicle to a different track.

While the second ones, who stay stuck at the same level are the ones who keep pressing the gas pedal without making any necessary alterations.

The situation with the business scaling is more or less similar. So what are the key strategies that can help you prepare your business for a different track?

1. DELEGATE

Many entrepreneurs tend to do things on their own. They understand the entire working process, what each employee was doing including the small details. But after a certain point of time, it becomes difficult for them to delegate the management to another person. However, delegating is an inevitable step because entrepreneurs need time to address strategic business development tasks.

Hence, you must ask yourself questions about how much your time is essential? Or how much less will the business earn if instead of my work I do someone else`s? Clearly define which tasks you will continue to handle and what you should leave for managers. Over time, your managers can become your partners if they can manage and handle the team.

2. Explore New Markets

To increase the stability of any startup business, it is essential to transacting in different markets. It is not only the best way to stimulate business growth, but it also serves as insurance. Ask yourself what happens to your business if a financial crisis like the demonetization or any political crisis breaks out in the target market.

It is essential for entrepreneurs to diversify their business and not to depend on one country, set of customers, currency, or language group. It increases the stability of your business many times over.

3. Monitor the Finances

Compliance has become the benchmark in the business world. Primarily, it is about taking care of relationships with banks, investors, and clients. If you want to scale your business in the overseas market, the international banks will not simply open your bank account if they do not like something in the history of your business. A clean reputation is expensive and necessary if you want to scale your business.

Even if the foreign market is not your goal, you should maintain a healthy financial history of your business. Your potential clients or investors might refuse to work with you if they consider you not reliable enough.

4. Follow Market Trends

One thing that every startup business owner needs to understand is that the crisis will come, and you need to be prepared for it. It is very essential to outline the processes that need improvement. Follow the regulatory policy and create contingency funds. Analyze which company indicators should be improved right now, and what are the processes that can be left aside. Also, be prepared to make some difficult and unpopular decisions.

By creating a plan, taking action, and staying persistent come what may, you can scale your business. It is not easy. No one ever said it would be. But it is well worth it. You can use our strategies that will help you scale your business and boost revenue. For more in-depth knowledge of powerful business scaling strategies, you can take our Business Coaching Program.

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Sales

Zomato Files for Rs 8,250 Crore IPO As Online Food Delivery Surges in Coronavirus Pandemic

Zomato (Photo Credits: Pixabay)

Online food ordering and delivery startup Zomato has filed for an IPO (initial public offering) of up to Rs 8,250 crore on April 28 as the food delivery business witnessed a surge amid the novel coronavirus pandemic. Zomato has filed its herring prospectus (DRHP) with the Securities Exchange Board of India (SEBI).

The food delivery platform has already converted itself into a public company from a private one. It intends to raise roughly Rs 7,500 by offering equity shares for sale. The rest amount of RS 750 will be raised through an offer for Sale by existing investor Info Edge.

“If the pre-IPO placement is undertaken, the minimum offer size (comprising the fresh issue so reduced by the amount raised from the pre-IPO placement, and the OFS) shall constitute at least 10% of the post-offer paid-up equity share capital of our company,” Zomato’s DRHP read.

Meanwhile, Zomato has not yet fixed the price band and lot size in which keen investors can bid for shares. The date for the IPO was also not declared in the DRHP.

Zomato, which was incorporated in 2008, is backed by China’s Ant Group. It is currently one of the most promising startups in India. According to Zomato’s official website, it has its presence in 24 countries across the globe. The food delivery startup also employs over 5,000 people.

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Startup

Part-Time Business Ideas for Students: Here are 5 Low Investment Businesses That Youngsters Can Take Up

Businesses in India (Photo Credits: Pexels)

Every person aims to become successful in life and for this to happen, one strives really hard all throughout. However, students, who are taking up their degrees and are planning to have a career in setting up their own business, can actually start with something small at first. This will help one to focus on what their goal should be and how they should be approaching their targets. Earning extra income with work from home jobs, freelance jobs are now in the trend. We often see students taking up part-time jobs for the sake of managing their own expenses.

Let us not forget that some of the popular and profitable businesses were launched by students: Microsoft, Dell, Apple. If you wish to supplement your income by doing business, you need to have a clear idea, a business plan, and a lot of patience and dedication. In this article, we will see some of the possible small businesses for students to earn money by doing part-time jobs or internships, that will help them start their savings and give them an idea to start, manage and grow their businesses in the future.

Start a YouTube Channel

Stating your own channel on YouTube can help you connect to more people in one go. If you are good at vlogging, this is the thing for you. Starting a YouTube channel needs a very little investment. All you need is a good camera, a good quality mic, and a decent background setup to record your videos. Students can use their smartphones, create the content which will be helpful for people, record and upload it.

Blogging

If you love writing, don’t let that skill go waste! You can earn a great deal of money by the power of words. Blogging is one of the most successful ways to make money online. All you need is to focus and articulate your thoughts to come up with ideas that will meet the expectation of the clients. Blogging, which is creating content in text format, can help you mint money in just no time. Your flair for writing can really be an added advantage to you.

Become a Radio Jockey

If you are good at communication and love to talk a lot, this is the right option for you. Along with studies, students can take up being a radio announcer. Once you are known to people, this can be one of the best full-time career options too. Of course, you can initially start with a bit of it to get some additional money. But, this side job can make quite a fortune.

T-shirt Designing

Make your artwork famous by making its presence felt online. What you can really do is, try and take up a T-shirt designing business, initially by printing just a few t-shirts. This is one of the growing and popular businesses in recent times. People usually go in for fancy t-shirts with artwork on it. You can try your luck and design some really fancy and unique style that will appeal to your target audience.

Translator

If you are good at languages, both verbal and written, you can become a translator and help people in their businesses. Companies usually hire translators to understand the core and basics of a language that is little known to them. Interpreting written or spoken material into one or more other languages and ensuring that the meaning and context are maintained, can help an individual deliver efficiently to the clients and corporations.

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Technology

4 Amazing Ways To Promote Your Business Online in 2021

Business (Photo Credits: Pexels)

In the 20th century, big or small, all businesses need an online presence in order to be successful. Luckily, you neither need a big advertising budget nor a marketing degree to put your business on the map. A laptop and an internet connection and you are ready to go.

So if you are struggling to find out the best ways to promote the website of your business then you are in the right place. In this article, we are going to cover some most effective ways to promote your business.

Here are tools to promote your website to get more exposure:

Introduce your website to Search engines:

Search engines are responsible for directing the majority of traffic so make sure you submit your website’s link directly to them. After this, you need to work on your search engine optimization (SEO). Some popular search engines are Google, Bing, and Yahoo.

Socialize on Social Media

The best thing about promoting on social media platforms is that they have a much larger audience. The one currently using social media can be your potential future customer. Some of the popular choices are Facebook, Twitter, Pinterest, Reddit, etc.

Blog and Spread the Word

If you are running a small business, chances are you are wondering if blogging is worth it. The short answer is yes. Blogging is a relatively easy and inexpensive way to promote your business and attract more prospective customers. You can create a blogging site at Blogger, Tumblr, WordPress, etc.

Click and Share

This works similar to social media except here you communicate exclusively by sharing pictures. Some of the popular click and share platforms are Instagram, Picasa, and Flickr. You can use these platforms to promote your business and experience a boost in traffic.

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Motivational

7 Inspirational JRD Tata Quotes that will Motivate you to Chase your Dreams!

jrd tata

The legacy of Tata is renowned and celebrated all across the country. The reason behind the Tata lineage is not just about their impeccable business skills, wealth, and global accomplishments. It also has a lot to do with their community-service approach for the people and the nation.

And of all the chairmen they have had, there is one man who has stood out for around 50 years, and that man is none other than- Jehangir Ratanji Dadabhoy Tata. Born on July 29, 1904, JRD Tata was a French-born Indian business tycoon who brought a revolution in the aviation industry.

When the Tata Empire was under JRD Tata, he took the company from 14-company conglomerates to 50, and sales were increased from INR 280 crores to INR 15,000 crores.

Along with other industries, JRD Tata also strengthened the civil aviation industry. Air India was probably one of his greatest contributions. JRD Tata had a great eye for arts and science and always fought for underprivileged people. He was one of the greatest and highly celebrated industrialists, who were humble despite being one of the most successful businessmen of his time.

Here are 7 quotes by JRD Tata that will inspire you and fill you with motivation:

  1. Uncommon thinkers reuse what common thinkers refuse.
  2. Always aim at perfection for only then will you achieve excellence.
  3. Money is like manure. It stinks when you pile it and grows when you spread it.
  4. Quality is first engineered, only then it is inspected.
  5. I do not want India to be an economic superpower. I want India to be a happy country.
  6. When you work, work as if everything depends on you. When you pray, pray as if everything depends on God.
  7. Common people have an appetite for food, uncommon people have an appetite for service.

Feeling less-enthusiastic about your entrepreneurial dreams? Do not worry! We have motivational quotes from the leaders who built their empire from the scratch. So keep reading and keep chasing your dreams!

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Business motivation

12 Best Business/Entrepreneur Movies Based on True/Real Life Stories

Movies Every Entrepreneur Should Watch| Representational Image (Photo Credits: Pixabay)
Movies Every Entrepreneur Should Watch| Representational Image (Photo Credits: Pixabay)

It is not easy to be an entrepreneur or businessman. No matter how much you work harder, there are going to be many challenges to be successful. At times, you can get demotivate. So it’s a good idea to watch a movie. The movies based on real-life entrepreneurs help you learn from other people’s mistakes.

Here we have created a list of top movies that are based on real-life stories of entrepreneurs. All these films have been inspired by true stories that will boost-up your dreams and motivate you.

  1. Jerry Maguire by Cameron Crowe
  2. The Pursuit of Happyness by Gabriele Muccino
  3. The Aviator by Martin Scorsese
  4. The Social Network by David Fincher
  5. The Wolf of Wall Street by Martin Scorsese
  6. The Founder by John Lee Hancock
  7. War Dogs by Todd Phillips
  8. Guru by Mani Ratnam
  9. Jobs by Joshua Michael Stern
  10. Joy by David O Russell
  11. The Big Short by Adam McKay
  12. Tony Robbins: I Am Not Your Guru by Joe Berlinger

Even if your business is not related to anything shown in these movies, you can still get a lot of motivation. The path towards success comes with lots of ups and downs. If you feel like quitting, give yourself a break and spend an evening watching movies.

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Startup

National Startup Awards 2021: A Great Opportunity for Young Entrepreneurs to get Recognition & Why Should you apply?

Startup Awards 2021

The National Startup Awards 2021 are back to recognize the contribution of another group of startups. Indian startups whose innovations have created a positive social impact by spurring innovation while being profitable will be rewarded.

The Indian startup ecosystem, which defied the odds during the pandemic has created record 12 unicorns. According to Economic Survey 2020-21, the startups in India have the potential to act as a catalyst in the growth in the medium to long run.

Indian startup ecosystem provides an excellent platform for entrepreneurs who dare to take an off-beat path when it comes to conceiving innovative products. Launched in 2020, the National Startup Awards aim to reward the startup ecosystem enablers, who are contributing to creating job opportunities, wealth creation, and have a measurable social impact.

These awards were first launched virtually on October 6, 2020, and the winners were facilitated by Piyush Goyal, the current Railways & Commerce Minister.

In the second edition of these awards, the Department of Promotion of Industry and Internal Trade (DPIIT) will recognize startups, accelerators, and incubators in 49 sectors. There are also other eight special sectors.

The government is also considering promoting sectors via National Startup Awards to bolster the country`s manufacturing sector under its ‘Atmanirbhar Bharat’ scheme. The finalists who will receive the awards will serve as role models for the upcoming entrepreneurs who are struggling to make a name for themselves.

The award recognition will be conferred to sectors like agriculture, animal husbandry, education, fintech, and space. These categories are further divided into 49 sub-sectors. Apart from these traditional sectors, startups that are led by women and those impacting rural areas with their grit and innovation will also be recognized for their positive contribution.

One more category is also dedicated to startups that excel in content delivery in Indic languages. Fields such as detection, prevention, and monitoring of COVID 19 will also get recognition for inducing innovation.

The winner will be eligible for a cash prize of Rs 15 lakh each. A winner also is selected in each sub-sector of every category and would win a cash prize of Rs 5 lakh. DPIIT has started accepting applications for the second edition of the National Startup Awards. The last date for the application is February 10, 2021. If you want to participate, you can go to the website: https://www.startupindia.gov.in/awards

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Finance Startup

Women-Led Businesses in India Get Major Boost As Visa Announces Grants To Empower Budding Businesswomen

Women Entrepreneurs in India (Photo Credits: Pixabay)

New Delhi, February 8: In a bid to boost women entrepreneurship globally and empower budding businesswomen, Visa on Monday announced the recipients of its grant programme in India. This would be Visa’s first global grant programme which will be in partnership with several startups that are led by woman entrepreneurs. Visa has partnered with IFundWomen, Bunko Junko, My Chapter One and MoWo Social Initiatives, where each one received a Rs 7,00,000 grant from Visa.

Resources from Instamojo will grow their businesses digitally, in a continued effort to offer better services to their communities. In a statement, Kevin Phalen, global head of business solutions, Visa that  access to funding, educational resources and a digital presence are fundamental building blocks that will help small businesses get back to not only surviving, but thriving.

Women-owned enterprises in India have grown from 14 percent to 20 percent in the past decade and employ between 22 to 27 million people.

  1. Highlighting this growth in women-led startups in India, Visa received applications from hundreds of businesses across the country in sectors including apparel and fashion, healthcare and wellness, food and beverages and art and events.
  2. The company evaluated 16 semi-finalists by a jury panel comprising senior leaders across Visa, FICCI FLO (FICCI Ladies’ Organization) and Instamojo. The final winners were selected based on the count of jury votes.

In addition to the grants, Instamojo, the digitization partner, is providing the winners with tools and resources to help build their digital presence.

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Business motivation

Ease of Doing Business in India: 4 More States Complete Ease of Business Reforms, Total 12 States Become Eligible To Mobilise Additional Financial Resources

New Delhi, February 7: The total number of states in India that have undertaken ‘Ease of Doing Business’ reforms stipulated by the finance ministry has gone up to 12 with the addition of four more states. On Saturday, four states — Assam, Haryana, Himachal Pradesh and Punjab undertook the ‘Ease of Doing Business’ reforms. With this, these states have become eligible to mobilise additional financial resources and have been granted permission to raise additional Rs 5,034 crore through Open Market Borrowings.

The ease of doing business is an important indicator of the investment friendly business climate in the country. Improvements in the ease of doing business will enable faster future growth of the state economy, a finance ministry statement said.

In India, total 12 states that fall in the list include Andhra Pradesh, Karnataka, Kerala, Madhya Pradesh, Odisha, Rajasthan, Tamil Nadu and Telangana, Assam, Haryana, Himachal Pradesh and Punjab which was confirmed by the Department for Promotion of Industry and Internal Trade (DPIIT). After completion of reforms facilitating ease of doing business, these twelve states have been granted additional borrowing permission of Rs 28,183 crore.

In May 2020, the government had decided to link grant of additional borrowing permissions to states that undertake the reforms to facilitate ease of doing business. In view of the resource requirement to meet the challenges posed by the COVID-19 pandemic, the Government of had on May 17, 2020 enhanced the borrowing limit of the states by 2 per cent of their GSDP. Half of this special dispensation was linked to undertaking citizen centric reforms by the states.

So far, 17 states have carried out at least one of the four stipulated reforms and have been granted reform linked borrowing permissions. Out of these, 12 states have implemented the “one nation one ration card” system, 12 states have done ease of doing business reforms, 5 states have done local body reforms and 2 states have undertaken power sector reforms. Total reform linked additional borrowing permission issued so far to the states stands at Rs 74,773 crore.