Tag: hiring

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Startup

How To Hire For Startup Business: The First 5 People You Should Hire!

How To Hire For Startup Business
How To Hire For Startup Business

Summary: To turn your small business into a large enterprise, you will need more people. Here are commonly suggested first hires for your business.

You created a product or a service. You started your business. You got your first 100 customers and your business started making a little money. Now it’s time to hire the right people to take your business to the next level. Most often entrepreneurs find themselves confused when it comes to deciding who those people should be. While some people take the right step and consult a business coach, others decide to figure it all out by themselves which often leads to a waste of time and money.

The people you hire today will benefit your business tomorrow. Though hiring people should depend on your business needs, any employee that you will hire needs to have a set of few qualities- flexibility, passion, and integrity. Hire people who have diverse experience and are capable of hand responsibilities until you expand further.

So, starting from the top, here are five roles you should fill immediately:

1. Chief Executive Officer (CEO) & Chief Operations Officer (COO)

CEO and COO are two of the most essential players who can provide a new direction to your startup. Where CEO is typically the brain of the company, and the COO is the heart of the company. The CEO controls the company’s direction, culture, and vision, whereas the COO focuses on the day-to-day operations that keep your business running.

Though the founders of the company assume these two operations, you can also hire externally for these positions. If you and your co-founder(s) already plan to take on these titles and responsibilities, hire the following seven positions next.

2. Product Manager

When it comes to products, a product manager will be your go-to person. From developing a product strategy to vision and development, he will work closely with the engineering and marketing teams to create and market your products. Hiring a person who can dedicatedly work towards building a great product or a service will allow you to start working on the business rather than in the business.

3. Chief Technology Officer (CTO) & VP

It is very important to stay updated and upgraded with the latest technological development in the world. Hence, a team member who specializes in technology and development is crucial to your business’s success. Though you can hire a freelance front-end and back-end engineer, it is useful to have someone on the team who can take charge of this sector.

Having someone with the skills to decide what will work best for your business, as well as managing the integration and management of various systems is the key. You can also hire a business mentor to gain a different perspective and professional expertise.

4. Chief Marketing Officer (CMO)

A crucial aspect of every business revolves around its customers. How customers view your product or service will decide whether they would like to invest their money in it. A Chief Marketing Officer will focus on your customers and build a brand image to promote your product in the market. Hiring an expert with excellent marketing and promotional skills is essential to ensure that your business reaches a wide audience.

5. Sales Manager

No business can thrive without sales and revenue. A sales manager will focus on generating new leads and bringing in money for your company. A startup or small business that masters sales first survives for a longer period. This is probably the hardest position to fill in, but it is worth the time and effort. Hire an amazing sales manager and then use the money they bring in to scale your business.

It’s smart to hire from the top and then expand your team as per your business requirement. Keep your company culture in mind when you are hiring for startup roles. Without filling these positions your company will lack direction and strong leadership.

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 about our courses, visit: www.badabusiness.com

Categories
Business motivation Process & Business Expansion

Hiring a Business Coach? Here are 5 Key Reasons You Should ASAP!

Five Key Reasons Hiring a Business Coach is a Brilliant Idea
Five Key Reasons Hiring a Business Coach is a Brilliant Idea

Summary: Having a business mentor is important if you want to achieve your goals in life. If you are an entrepreneur who has just started his journey, you should hire a business coach. Getting yourself a mentor who can guide you with his years of experience and expertise is the best way to achieve your goals.

Let`s say you want to go from point A to point B in your city. You are new to the city, and only have a basic idea about the medium of transport. Now there are three ways to find how you can get there.

The first way is to figure it out all by yourself. This might require you to get around the city and walk the streets in your quest to find the right one. This could be time-consuming and frustrating. You might reach or you might quit before reaching your destination.

The second way is to ask for directions. You can ask random people on the streets. While some might point you in the right direction, others may send you in the opposite direction. Nonetheless, you will waste a lot of time.

Now, the third way is to use GPS or Google Maps. A map will guide you turn by turn along with telling you the shortest route saving you from traffic jams. You will save time, frustration, and confusion. You will reach your destination easily. A mentor is just like GPS who will give you directions and help you to achieve your goal on time.

Many entrepreneurs often take the first way, trying everything out instead of getting a mentor. They read books, watch online videos and enroll themselves in random online problem solving courses. This is just like asking for directions from random people who might not be aware of your business requirements.

Here are five reasons why you should work along with a business coach:

1. Mentors Act as Great Navigators

Young entrepreneurs need to understand the right way to achieve success without deviating from their path. Success in any business is a combination of many factors and one of them is to keep updating and learning about business. Your mentor can suggest an online business coaching program for entrepreneurs that can help you to expand your viewpoint. It will help you to resolve problems and will boost your confidence too.

2. Mentors Provide Unbiased Views

Business mentoring and coaching are two different concepts. Your business coach does not have to be your best friend. The objective of a mentor is to help you develop your business. But to achieve that he will have to view your business with a fresh perspective, and unbiased eyes and guide you, instead of solving problems.

3. A Mentor can Help You Set Benchmarks

After the initial discussion, the key role of a business coach is to initiate goal setting and celebrate important achievements to help entrepreneurs stay engaged and enthusiastic.

4. Mentors Can Help You Find Investors

Being an entrepreneur one of the major challenges is to find an investor for your business idea in which you believe with all your heart. Angel investors or venture capitalists are individuals and groups that provide funds to startups with promising ideas. They will be more interested in you once they understand the potential of your business through the eyes of an experienced industry professional who is also your mentor.

5. Mentors Provide Balance

Young entrepreneurs often come up with unique concepts and business ideas. They believe in working in innovative and smart ways while chucking old-school approaches. However, it is always advisable to have a combination of old and new in a moderate balance. Business coaches often adopt smart working techniques, while providing sound advice and constant guidance to achieve the right milestones at the right time.

Mentoring is a long process that demands consistency. While you may feel that you don’t need a business coach all the time, having someone who is an expert and a seasoned professional who you can reach out to anytime provides great comfort.

To know more about a business coach. Visit: www.badabusiness.com.

Categories
HR & People Management

3 Soft Skills Every Company Looks In A Candidate While Hiring!

3 Soft Skills Every Company Looks In A Candidate While Hiring!
3 Soft Skills Every Company Looks In A Candidate While Hiring!

People often spend their entire lives honing their industry-related skills. But they often miss out on developing soft skills. Soft skills are how an employee interacts and relates with other people. These are the traits that involve teamwork, listening, and communication and are extremely valuable to employers.

Do you want to know how to get your dream job? Here are the 10 best tips to get your dream job:

Whether you are a fresher who has just graduated from college, a mid-career professional who is looking to take a leg up in your career, or a working professional looking to secure your next promotion; there are few important soft skills you will need to achieve your career goals.

Though the importance of hard skills can`t be neglected, soft skills are priceless. Where hard skills are teachable and easy to quantify, an employee must cultivate soft skills as well. If employees don’t have these basic soft skills, it can hurt the overall success of the company.

Here are three soft skills that must possess if you are looking to accelerate your career:

1. Positive Mindset

Failures and setbacks are part of life. But how you choose to get past them is what determines your success. It is the ability to bounce back in the face of obstacles and failures that help you succeed.

Professionals with a growth mindset are highly motivated to achieve higher levels of success by continuously learning new skills to keep pace with a changing market. You can listen to the best motivational speaker in India Dr. Vivek Bindra to learn how to develop a positive mindset.

2. High Emotional Intelligence

Managing work-related roadblocks by producing innovative solutions requires a positive mindset and a creative approach. Building meaningful relationships in the workplace is one of the most important skills. It is also important to be curious and passionate about learning new skills so that you can give your best performance and distinguish yourself.

3. Curiosity to Learn

The ability to grasp and learn new things is another important soft skill of the 21st century. Whether you are an entrepreneur, solopreneur, or a job-seeker, it is this one skill that will keep you ahead of the crowd.

The illiterate of this century is not someone who does not know how to read and write, but a person who is not willing to learn, unlearn and relearn. In this fast-paced world where new trends fade as quickly as they emerge, success is more about adapting your skills by growing and adapting and less about what you already know.

There are many other skills that hiring professionals look for in a candidate. But the three soft skills that are mentioned above are in great demand. Showcase your positive attitude and the skills above by mentioning times when you took the initiative to learn a new skill to improve your performance.

You can boost your sales easily with the right guidance from a business expert.  Learn to generate high revenue earning products for sales; generate payment links for customers, manage account-related details. 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: www.badabusiness.com

Categories
Business motivation

4 Steps To Scale From A Hungry Solopreneur To A Successful Enterprise

4 Steps To Scale From A Hungry Solopreneur To A Successful Enterprise
4 Steps To Scale From A Hungry Solopreneur To A Successful Enterprise

Many entrepreneurs often start as solopreneurs. They conceive a money making business idea, work upon it and start a small startup all by themselves. They generally do not have any partners or staff to assist them with their business`s management and operations.

Where starting a new venture all on your own is an excellent thing, handling multiple operations alone can be tricky as well. Eventually, it will begin to take a toll depending on the circumstances. As solopreneurs don`t have any partners, they do not have to consult with a partner before making decisions and owning their entire company.

But solopreneurs can`t sustain themselves in the long run, if they wish to grow. Eventually, there comes a point when you want to scale your business, and it becomes impossible to do so unless you hire more help.

Being a solopreneur how can you ensure that you achieve your business goals? Here are the top 5 key pillars that can turn your startup business into an unstoppable enterprise:

1. Build a Unique Product or Service

Solopreneurs try to don multiple hats at one time. Aside from handling their business, they must focus on creating a unique product or a service that will resolve the problems of consumers. Building a product that a customer would want to purchase is quite essential for a business`s growth. But as solopreneurs have so many other things to focus on, it becomes quite difficult for them.

These distractions make it difficult for solopreneurs to conduct the proper research needed to learn what their potential customers are demanding. If you are selling products, it is okay to hire manufacturers who can create products on a contractual basis. And if it is a service that you are offering, try to give your best shot and make your customers extremely happy.

2. Hiring & Outsourcing

One of the reasons due to which Solopreneurs prefer to do everything on their own is because of their tight budget. They don`t want to hire staff simply because they can`t afford them. If you too feel the same more or less then you will end up stressing yourself with too many responsibilities. Instead of becoming your marketer, accountant, tax advisor, and customer service outsource it.

There is nothing wrong with working 12 hours a day, but once your business starts making money, you should hire additional workers to help you. You could start with hiring freelancers, part-time employees, or full-time employees. You can start with one freelancer and gradually hire more people as your small startup business begins to grow.

3. Invest in a CRM System

A customer is the backbone of any business. And being a solopreneur it becomes more essential to stay equipped with a good CRM system so that you can tackle all your customer queries and orders. Building a strong relationship with your customers is how you get repeat business. But if you decide to manage everything on your own, it will become nearly impossible to answer all their questions and orders.

As a solopreneur, you will need all the assistance that you can get in that department. That is why a customer relationship system is an invaluable asset to bring into your company.

4. Try Fast & Easy Marketing Techniques

To save time as a solopreneur, automated marketing is the best way. Though many experts will ask you to post classified ads and blog messages, these methods are time-consuming and require effective strategies.

You will have trouble devoting each day to marketing because you will have multiple tasks to do as a solopreneur. Hence, it is best to invest in fast and easy marketing techniques so that you can build a strong online presence for your business.

Being a solopreneur is not an easy task. Starting a small startup business from the scratch and running it requires hard work, dedication, and passion. Hence, apply the above-mentioned strategies to turn your startup into a successful enterprise.

When handling a business all along, you get to reduce expenses; you get to make sure you’re focused only on your core business, and not management issues that crop up with teams; and of course, your vision is yours to implement without depending on others.

But there are disadvantages too – without a team to delegate tasks to, how can you make sure you’ve got everything covered? With our Business Coaching Program, you can accomplish all that you want. To know more about it, visit: www.badabusiness.com

Categories
MSME

Human Resource Management: 5 Tips for Small Businesses to Efficiently Manage Employees

Human Resource Management| Representational Image (Photo Credits: Pixabay)
Human Resource Management| Representational Image (Photo Credits: Pixabay)

A dedicated and hardworking team of employees is important for any business organisation to succeed. Human Resource (HR) is as important as financial resources for the well being of the business. Firms are advised to take good and proper care of their employees and keep them motivated to strive for the best results. A positive working environment also increases the productivity of the employees. Skilled, trained and industrious workforce can help the business move swiftly through difficult times with limited financial resources. It is therefore, highly crucial to hire and retain efficient employees. 4 Successful Tips to Run Discounts & Special Offers For Your Business Ahead of Christmas 2020 & New Year.

Businesses should also lend a patient listening ear to the employees. They should feel valued. Owners need to understand the grievances of the employees and provide quick and satisfying redressal to them. Here are some tips for small businesses to follow to manage human resources at work :

Offering Adequate Compensation

One of the biggest motivator to work is the financial incentives. Employees should be paid adequate compensation matching the level of efforts they put in the work. The remuneration should be at industry levels and on a similar range to that offered by competitors. Offering attractive benefits like health insurance, family insurance, gratuity benefits among others are  also helpful in  persuading talented people to join the business and stay.

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

Ensuring Employee Safety

Most firms over look employee safety at workplace. But reports of workplace hazards and accidents are not uncommon. Such incidents reduce the morale of the employees and they even tend to quit the job. Employee safety is the utmost responsibility of the business owner. The businesses’ should continuously assess the risks, put controls in place and ensure that everyone follows the safety rules. National Startup Awards 2021: DPIIT Invites Entries to Reward Outstanding Startups; Know Eligibility, Prize and How to Register Online at startupindia.gov.in.

Resolving Conflicts

Another important way to encourage employees to perform better is by providing quick redressal of their complains and conflicts. Understanding and listening to employee’s issue gives them confidence in the firm and they feel valued. Owners should also encourage the employees to speak up. They should acknowledge that a difficult situation exists and let employees express their feelings. Quick actions on the complaints should be provided with monitoring and follow-ups.

Give Proper Feedback and Appraisal

Small businesses should make sure to give continuous and helpful feedback and appraisal to the employees. They should appreciate the good work done and provide constructive criticism if their performance is not up to the mark. Owners should also set performance goals and award employees who meet them.

Follow Clear Employment Policies

The business should formulate and follow clear employment policies. These should be applicable to all the employees alike without any discrimination. These should include proper and detailed hiring and retention process, compensation packages, career path of the employees and other related aspects. The employee should also be communicated about these policies clearly. Following a set of rules and regulations, increases confidence in the employees.

Businesses can not solely function on the financial resources. Human resources are an equally important component in the success journey of the business. The small businesses should therefore, make sure that their employees are treated well and work to the best of their capacity.

 

 

 

Categories
Business motivation Startup

4 Things to Remember If You Are Planning to Start Your Own Business Amid COVID-19 Pandemic

Business growth
Business growth (Photo credits: Needpix.com)

Mumbai, November 20: Starting a business is a paramount task, it is not just an idea that needs to click, but several other things should fall in place. You have been longing to start your own company since long, but the COVID-19 outbreak came as a roadblock. No doubt, starting your own business in the middle of the pandemic is extremely difficult, but it is surely not an impossible task.

We have listed a few important things which you should remember if you are planning to take a leap amid the pandemic.

  1. Study the Market: It is very important to study the market in order to find if there is a demand for your product. There are certain things which need to be considered, for e.g, if you are planning to launch a hi-end product, then keep the current market situation in mind, where there have been job losses, businesses being shut among others. So, if you feel there is no demand, then you can delay the plan for some more time.
  2. Have a strong online presence: Given the current scenario and more months to come, people will feel comfortable to shop online, rather than going out to a physical store and purchasing. The coronavirus outbreak has also changed the dynamics of business. So even if you are planning a store, make sure you are marketing well on social media channels and you have a good responsive website.
  3. Check your finances: In the current market situation, people are not splurging as they are hesitant to spend money. So expect longer than usual time for your business to kick start. Spend wisely and keep a tight budget in the initial few months.
  4. Hire a good team: Don’t go overboard and hire too many people. Recruit the strength which you require. There will always be time to expand.

    We spoke about the challenges, but there are certain positives also on your way. For e.g, if you are planning to rent a shop or an office space, it will be a great time because the property rates have slashed. Also, since people are spending more time at home and with their family, it will also be easier to target them.

    Being an entrepreneur is the most satisfying job, as you can take your own decisions. So if all things are in place and you are confident of starting your own business, go ahead, and take the plunge.

Categories
Startup

5 Mistakes Which Startups Should Avoid While Starting a Business

Startup Growth
Startup Growth (Photo Credits: Pixabay)

Starting a business is not an easy job. There are a lot of things that need to fall into place. You may have the right idea, but lack in marketing it, therefore there several crucial decision that needs to be made while running a business. More caution needs to be exercised especially if your business is small and it is a startup.

One poor decision can hurt the potential for success, or at least set you back. While there is no fool-proof plan for success, but there are some commonly committed mistakes, which can be avoided. Here are 5 mistakes, which startups and small businesses need to avoid at any cost.

Not Having a Plan

Small companies often fail to make a mark because they lack a proper plan. Planning may be tedious, but without a solid plan for your business that includes business idea research and market potential, you will be operating in the dark.

Lack of Market Understanding

When you launch in the market, you need to have a proper understanding of the space where you are working, including the competition. Never underestimate your competition and analyse their strengths and weakness wisely.

Hiring More Than Required

Never do this mistake of hiring more employees than what is required. Based on the budget allocated for a particular profile, companies should never hire more resources than what is required. One needs to remember that it is a small company and the resources are limited. Companies often make the mistake of hiring more than what is required and then they end up firing them.

Spending Too Quickly:

The most important thing which startups and small businesses should keep in mind is to spend wisely. In the initial few days, one might see that investing money is giving good returns, which might prompt them to spend more. However, there should be planning and based on which, companies should spend.

Planning only for success:

It is very important to be prepared for failure. What will happen tomorrow is not known to anyone. There can be a lot of factors that can hinder the growth of a business. For e.g, the coronavirus pandemic has caused several businesses to wind up. At the start of this year, no one could foresee that the pandemic would take such an immense scale which would make the economy dwindle. So don’t start a business, buy planning only for success. There will be times, and days when things will not go as per the way you want. So be prepared for it.