good leadership – Bada Business

3 Ideas to Keep Your Employees Engaged and Motivated

One of the valuable skills you can sharpen as a business manager or an entrepreneur is the ability to engage the people you employ. If you hire the right people and manage them well, you will have an excellent workforce that is characterised by brilliant performance and growth.

However, if employees are not happy with you, the company might have an unwelcome turnover. The business will also be in a constant state of chaos. Here are some ideas to keep your employees motivated.

Empower the Individual

Every employee deserves to be valued as an individual. No one wants to be a faceless pawn in the company. Thus, the employer should motivate every employee individually. This will encourage them to perform better and they will give their best in every assignment.

Develop a Positive Environment in the Workplace

Most of the employees spend the majority of their waking hours at the office. Hence, the workplace should be a place with a happy environment. Employees should be encouraged to share their knowledge with everyone, including managers. Employees also need to be encouraged to accept their mistakes without fear of humiliation.

Provide Supportive Leadership

Leadership is not only about giving tasks but also motivating employees. Supportive managers work closely with the employees. Good leaders serve as role models. Hence, they should also take accountability if the team does something wrong. While big wins are important, leaders should also celebrate mini-milestones of employees in their day-to-day lives.

5 Reasons Why Startups Fail; Here Are the Mistakes Which Need to be Avoided

Mumbai, August 24: Startups fail due to various reasons and one of the main reason is when they fail to offer the product which the market wants. In short, when they fail to meet the expectation of the consumers. It is very difficult for a startup to stand out until and unless their product offering is different from the others.

Below are a couple of main reasons why startups fail:

Failure to understand consumer demand: Several startups have failed over the years because their product couldn’t meet the expectation of the consumer. Therefore, it is very important to do proper market research before launching your product in the market.

Advertising Blitzkrieg Startups need to spend every penny wisely. However, most startups fall into the trap of spending a bomb on advertising. From getting on board celebrities to endorse their products to full-page ads and TV spots, brands end up burning cash in their quest to get the attention of the consumers. However, what they manage to get is momentary attention in the consumer’s mind space.

Insufficient Funds & Inability to raise capital: A lot of startups wind up due to insufficient funds after a few years of their launch in the market. Their inability to raise capital further adds to their worries with no option left, but to shut down their company, which by this time already have several employees on board.

Poor Leadership:

Startups often fail due to the wrong vision of the leader. A good leader, on the other hand, has the power to bind his team together and motivate, inspire and be with each other in times of crisis.

No Planning for crisis period:

Several startups have shut because there has been no planning by the leaders on what action to take in case of emergency. Talking about today’s scenario in the middle of the coronavirus outbreak, not only in India but across the world, startups have been forced to shut because the coronavirus induced lockdown. Most of them had not planned for such a crisis scenario, and hence they failed.

A successful startup involves a team of hardworking people, good leadership and focus to help tide through any situation.