Tag: Independent Business Consultant

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Finance

7 Best Tips You Should Consider Before Investing In Mutual Funds

7 Best Tips You Should Consider Before Investing In Mutual Funds
7 Best Tips You Should Consider Before Investing In Mutual Funds

Summary: Mutual Funds are one of the most popular tools of investment in India. A collection of bonds, stocks, assets, and money market instruments come with many benefits.

Warren Buffett once said, “Risk comes from not knowing what you are doing.” And when it comes to investment his words stand true. When you know how the market works, what kind of risk it involves, and know the essential tips and tricks of the same, you can become a good investor.

For beginners, Mutual Funds are the safest option to start investing in the market. Mutual Funds enable an investor with limited capital to make investments in various schemes like SIPs with as little as Rs. 100 or Rs. 500 to generate better earnings.

A mutual fund is an investment scheme made up of a pool of money collected from many investors to invest in various securities. The fund manager then uses these funds by investing them to purchase various securities including gold, stocks, bonds, etc. Each mutual fund will have a certain objective and different returns.

Before you decide to invest in mutual funds, follow these 7 tips that will help you to make a better decision in investing your money:

1. Read About Mutual Funds & Its Benefits

The new age investors believe in making passive income by making their idle money work for them. However, very few understand its true meaning and how to make the most of it. Many individuals are aware of the benefits that come along with investing in the stock market. But very few know that routing such investments through mutual funds would prove to be more effective.

Hence, you need to read as much as it is possible about Mutual Funds and how they work. What are the benefits and how you can reduce the risk that comes along with investments in just one asset category?

You can also take help from a wealth creator. He or she can help you in making investment decisions, just like a business coach helps you in taking critical decisions related to your business.

2. Learn about types of Mutual Funds

Mutual funds are segregated into distinct categories by asset class. They are divided into stocks, bonds, and cash, and then furthermore based on their style, objective, or strategy. There are three types of Mutual Funds in India:

a). Equity: High on both risk and potential returns, these investment schemes are the favorite of seasoned traders. However, beginners and investors with a low appetite for risk are cautioned before investing in any equity-oriented Mutual Funds.

b). Debt Mutual Funds: If you are risk-averse but want great returns on your investment, debt mutual funds are suitable for you. These fund schemes mostly invest in debt instruments like government bonds, corporate bonds, etc.

c). Balanced Mutual Funds: Also known as hybrid funds, this type of investment put money both in stocks and bonds. Its diversified nature provides balance and a perfect blend of both risk and rewards in terms of investments.

3. Find Your Objective

Before you decide to invest in mutual funds, you must know your objective. For instance, you can invest in equity funds, if you have long-term financial goals, but if you have short-term or medium-term financial goals, you can invest in debt funds.

Hence, your first step should be to decide on a goal. The time frame you are looking for and the returns that you are expecting will help you choose a fund that is best suited to your objective.

4. Learn About the Risk Involved

When thinking about investing, it is essential to know that the risk factor remains constant no matter which investment scheme you pick. However, there are numerous options available to help investors find one scheme that matches their risk appetite and return on investments.

5. Check the Expense Ratio

For the proper management of your funds, a commission is charged which is known as the expense ratio. As an investor, you need to figure out how much expense ratio a particular fund is charging, as it is calculated across the investor`s total portfolio and will have a significant impact. Hence, always pick a mutual fund that comes with a lower expense ratio.

6. Check Taxable Income on Your Investment

How much income from a fund will be taxable is something every beginner must consider. The returns from equity mutual funds are taxed based on the holding period and the applicable tax rate. Mutual funds are often efficient in terms of post-tax returns. For instance, long-term capital gains are taxed at 10% over and above the exemption limit of INR 1 lakh while short-term capital gains are taxed at a rate of 15%.

7. Track Past Performance of the Mutual Fund

It is crucial to check the track record of a particular Mutual Fund scheme before investing. From the duration to ‘Assets Under Management (AUM), you must learn everything related to the investment scheme you are planning to put your money in. Also, check the investment style of the fund manager and opt for a fund where the manager shows consistency irrespective of the market cycle.

Mutual funds are subject to market risk, which is why doing a fundamental analysis of a particular investment scheme becomes paramount. But, do know that no matter how good a fund has performed in the past, it won’t guarantee that the mutual fund will do well in the future. Keep these tips in mind before investing your money in a mutual fund.

LFP Plus by Dr Vivek Bindra

Categories
Finance

5 Key Factors Beginners Must Consider Before Choosing A Mutual Fund

5 Key Factors Beginners Must Consider Before Choosing A Mutual Fund
5 Key Factors Beginners Must Consider Before Choosing A Mutual Fund

Whether you are a novice, an experienced investor, or a trader, mutual funds are among the most popular investment options. All one needs to know is the basics and zeal to build their knowledge base to make smart, informed choices.

But what exactly are mutual funds?

A mutual fund is an investment scheme made up of a pool of money collected from many investors to invest in various securities. The fund manager then uses these funds by investing them to purchase various securities including gold, stocks, bonds, etc. Each mutual fund will have a certain objective and different returns.

So, when is the best time to invest in mutual funds- when the market is up or down?

It is both. Many people often get confused about the best time of investing in mutual funds. But investing in mutual funds needs in-depth analysis, discipline, and practice. Irrespective of the market fluctuation, these funds tend to provide decent growth over some time.

However, before you decide to invest in mutual funds, you need to be aware of a few things that will ensure you get better results and a rewarding experience.

Here are 5 things you must know before investing in Mutual Funds:

1. Mutual Funds have Different Risk Levels

Every mutual fund category is different and hence, they possess a different level of risk. However, there is no common platform based on which you can determine if a particular mutual fund category has a high risk or low risk.

For instance, direct equity has a higher risk when compared to equity mutual funds. However, it offers higher returns than other funds. So, the risk associated with every mutual fund category is different. Hence, before investing in any Mutual Fund, you should check how many risk factors it contains because every scheme has a risk assigned to it, and how much you are willing to take.

2. Find Your Objective

Before you decide to invest in mutual funds, you must know your objective. For instance, you can invest in equity funds, if you have long-term financial goals, but if you have short-term or medium-term financial goals, you can invest in debt funds.

So, before choosing a mutual fund, the first step is to decide the goal. The time frame you are looking for, and the returns that you are expecting will help you choose a fund that is best suited to your objective.

3. Check the Expense Ratio

For the proper management of your funds, a commission is charged which is known as the expense ratio. As an investor, you need to figure out how much expense ratio a particular fund is charging, as it is calculated across the investor`s total portfolio and will have a significant impact. Hence, always pick a mutual fund that comes with a lower expense ratio. The higher the AUM, the lower the expense ratio.

4. Consider the Taxes Your Investment Attracts

How much income from a fund will be taxable is something every beginner must consider. The returns from equity mutual funds are taxed based upon the holding period and the applicable tax rate. Mutual funds are often efficient in terms of post-tax returns. For instance, long-term capital gains are taxed at 10% over and above the exemption limit of INR 1 lakh while short-term capital gains are taxed at a rate of 15%.

5. Don`t forget to check the Track Record of the Mutual Fund

From checking the investment time to AUM, it is crucial to check the track record of a particular Mutual Fund scheme before investing. As an investor, you should opt for a mutual fund house with a larger AUM. i.e. Assets Under Management.  It not only withstands the sudden redemption pressure from major investors but also offers a lower expense ratio.

Also, check the investment style of the fund manager before putting money in a mutual fund. Opt for a mutual fund where the fund manager shows consistency irrespective of the market cycle.

Mutual funds are subject to market risk, which is why doing a fundamental analysis of a particular investment scheme becomes paramount. But, do know that no matter how good a fund performed in the past, it won`t guarantee that the mutual fund would do well in the future.

Want to start your own business but don`t know what to do? Become an IBC (Independent Business Consultant) and earn up to Rs 1 to 10 lakhs per month. What more? Get an opportunity to be recognized in Dr. Vivek Bindra`s world record creating mass digital webinars & Youtube Videos. Click here for more details: https://www.badabusiness.com/ibc

Categories
Business motivation

How To Find More Clients As A Freelancer?

How To Find More Clients As A Freelancer
How To Find More Clients As A Freelancer

Working for yourself at your convenience is unbeatable. The flexibility to work from anywhere in the world, and get paid is quite amazing and this is why freelancing has become a common term in this era.

Though the concept of freelancing has existed for a long time, not many people chose it as a full-time income source because of the lack of clients and unattractive income. But with the pandemic striking the world thrice since 2020, freelancing has become a common and most preferable norm.

Although freelancing is preferred by many young professionals, they often struggle to find work. And finding a new client or more business is probably the most daunting aspect of being self-employed. So how can you enjoy the freedom of working as a freelancer, and get more work at the same time?

You can watch this video by Dr. Vivek Bindra to find out what are other professional opportunities you can take up as a freelancer:

Here are 4 amazing tips that will help you to get more business and carve out a niche for yourself:

1. Understand Your Expertise

When a company seeks to hire a freelancer for their business, they prefer someone who has good experience in the relative field. For instance, any freelance writer can write about finance, however, only a professional who has written extensively for the finance sector will be able to produce high-quality pieces.

So, you need to understand your expertise. Find out in which industry you have hands-on experience and in-depth knowledge. Use your previous experience and expertise that you have acquired from your previous job as it can help you to find new clients from the relative field.

If there is a specific area in which you would like to gain experience, you can take online business courses or look for certifications to add to your resume.

2. Quote Competitive Prices & Be Flexible about it

Many new freelancers undersell themselves thinking that it will help them to get more clients. But, this can result in you being underpaid. Always remember that a client would spend money on someone with a high level of skills, and whom they can trust with their project. Pricing yourself too low can hinder the confidence of your potential clients in your expertise.

Instead of underselling yourself, look at your professional experience and expertise in the industry. Figure out what other freelancers in your industry are charging. Price yourself honestly when you bid for a project on websites like Upwork. If you need to set a rate for yourself for an overall project, analyze how many hours you will need to complete it. Don`t forget to include the time of modifications, revisions, or communication from the client`s side.

As you start gaining more experience, you can adjust your rates accordingly. You can build a portfolio as well to showcase various projects that you have undertaken to get more clients.

3. Build a Strong Digital Presence

In this world, where everything is happening online, a strong digital presence is what you needed the most as a freelancer. You don`t have to print an ad in a newspaper anymore. All you have to do is create a powerful portfolio on various social media platforms. The digital presence will help you to demonstrate your skills and expertise for those interested in hiring freelancers.

Make the most of social media platforms to reach out to new clients. You can also increase your followers to build a fan base of people who love your work. Make connections on LinkedIn because nurturing a strong network will help you with leads of potential clients.

4. Keep Your Clients Updated

One of the worst things that any freelancer could do is not to keep their client in the loop as the project progresses. Don`t make this mistake. Once, you are on board with a client, pay attention to the guidelines that are mentioned in your contract. This will give you a fair idea of if and when they expect key updates.

Try to update your clients regularly, and let them know immediately if anything changes with the project. If you are forced to adjust the deadline due to unavoidable circumstances, keep the lines of communication open. Share the reasoning behind the change and how you can manage it for them.

As a freelance professional, you should use all the opportunities to build your client base and network. Knowing how well you met their expectations will send out a message that you care about your client`s experience. This will help you to build your brand.

Want to start your own business but don`t know what to do? Become an IBC (Independent Business Consultant) and earn up to Rs 1 to 10 lakhs per month. What more? Get an opportunity to be recognized in Dr. Vivek Bindra`s world record creating mass digital webinars & Youtube Videos. Click here for more details: https://www.badabusiness.com/ibc

Categories
Startup

9 Highly-Paid Freelance Jobs You Can Start In 2022!

9 Highly-Paid Freelance Jobs You Can Start In 2022!
9 Highly-Paid Freelance Jobs You Can Start In 2022!

Summary: Many work-from-home jobs pay well. But the best part is that you are on your own. And for some people, that’s the best part.

Once upon a time, work-from-home was just a dream. However, with pandemics striking the world with their infectious streak, there has been a surge of jobs that you can do from your place. So, where organizations have adapted the new model of letting their employees work remotely, many people are quitting their desk jobs to embrace their side hustle as a full-time job.

So whether you want to start your own business or want to work remotely, there is no dearth of work-from-home opportunities. Here is a list of 9 well-paying work-from-home jobs which can generate annual earnings equal to more than the annual income.

1. Affiliate Marketer

If you are unfamiliar with affiliate marketing, let us explain it to you. Affiliate marketing is a type of referral marketing where you earn a commission by referring a product to your followers or website visitors. When the visitor clicks the affiliate link and buys the book recommended by you, the brand will pay you a percentage of the sale. This work-from-home job is quite popular amongst the influencers, and people can start earning passive income without burning a hole in their pocket.

2. Animator

If you have an eye for detail and love to create visual effects for movies, tv, video games, and animated short movies then it is time to put it to best use. You can start working as a freelance animator and upload your portfolio on sites like Upwork. You can charge on an hourly basis and can earn from 2000 to 8000 per day, depending upon your skills.

3. Baker/Caterer/Chef

Love baking yum cakes, muffins, and brownies that can melt even the iron heart? So why not turn your passion into a side business? From your kitchen, you can start a bakery or become a personal chef. Cloud kitchen is another work-from-home option that you can start from your home. You can first sell your products to your friends, neighbors, and circle online, initially.

4. Blogger

Blogging is the easiest and the most affordable way to generate income right from your home. If you are thinking about which topic, you can start writing on diverse topics like music, food, or beautiful places that you visit. Though this option may take time to generate a steady source of income, if you love writing, this is something you should pursue.

5. Business Consultant

Whether you are an accountant or a social media strategist, if you excel in a specific domain, then you can consider sharing your expertise and knowledge with others too. You can help local shopkeepers and businessmen to grow their businesses and update them with the changing dynamics of the market. You can also train businesses to use a new software program. You can also become an independent business consultant by taking a franchise of Ed-tech startup Bada Business Pvt Ltd.

6. Data Entry

Many companies require people to input their data for businesses. Though this job does not sound like one of the most exciting jobs, you don`t need any previous experience.

7. Grant Writer

Hospitals, universities, and non-profit organizations often need to apply for grant money. So, the applications are often difficult to write, these businesses often seek talented grant writers.

8. Yoga Instructor

During pandemics, many people opted for workouts at home. If you know yoga, you can become a yoga instructor. All you need is a laptop, working internet, and a profile on social media channels. You can take online sessions and charge them for your services. However, you must do a professional yoga course from a renowned institute to become a certified trainer.

9. Social Media Manager

In today`s world, almost every brand is on social media channels. Why? Their customers around the world are present on these social media platforms. To reach out to a wider audience and build a strong brand presence, many businesses want a social media manager to handle their business accounts.

Working as a freelancer will not just give you a steady income, but also the flexibility to work on your terms. You can also start the above-mentioned work-from-home jobs as a side hustle or focus on it completely.

Want to start your own business but don`t know what to do? Become an IBC(Independent Business Consultant) and earn up to INR 1 to 10 lakhs per month. What more? Get an opportunity to be recognized in Dr. Vivek Bindra`s world record creating mass digital webinars & YouTube Videos. Click here for more details: https://www.badabusiness.com/ibc

Categories
Business motivation

4 Tips To Pitch Business Ideas Like A Motivational Speaker

4 Tips To Pitch Business Ideas Like A Motivational Speaker
4 Tips To Pitch Business Ideas Like A Motivational Speaker

Whether you are pitching a new startup business idea to an investor, presenting a new product idea to your client, or interviewing for a job, getting others to believe in you is essential to have a successful life.

But of course, it is often easier said than done. But if you want to be a successful entrepreneur you should work with the best motivational speaker in India. Working with them will teach you how you can sell your ideas even to the most difficult investors.

Motivational speakers are experts who have an impeccable ability to sell their ideas to a captive audience. It is also true that the people attending their seminars and events are primed to receive the message, but their on-point sales tactics make the difference between an average and a good conference.

Only great speakers can share a message that sticks with people. If you too want to become a pro at your entrepreneurial game, here is how you can do it:

1. Focus On Your Audience

The difference between a great and an average motivational speaker is that the farmer knows that it`s not about them, but their audience. Despite all the eyes focused on them, they keep their audience under the spotlight. This is why before delivering speaking; they take their time to understand the people whom they will be addressing.

Understanding their audience means knowing their challenges, problems, conflicts, motivations, and quirks. This may sound like a lot, however, it is vital. It gives you an idea of whom you are speaking and your message will reach the right people.

Similarly, whether you are trying to pitch a new idea to your investor, client, or boss, you must do your homework to understand their persona.

2. Use Inspiring Stories

An inspiring story can go a long way. And when it comes to selling your idea, it is crucial to have a compelling story. A successful business motivational speaker will tell you that visual aids and animated body language will only go so far. What will impress your clients, audience, investors or boss is an inspiring story.

The reason behind it is that when the information is shared in a story form, people remember the message more and for a longer time. They also help to establish personal and emotional connections with your audience. So if you want to sell an idea to potential customers or a niche target audience, make sure that it has the following three elements: a hook, a promise, and a payoff.

3. Build a Sense of Urgency

Human nature is amusing. People don’t want a thing which they need. They want to have scarce things. Creating a sense of urgency by limiting their availability is how motivational speakers create value. If you are an entrepreneur, you can create a sense of urgency or FOMO in various ways while pitching your idea. Most importantly your idea should be something that people actively want and will benefit from.

4. Be Authentic

No matter what you are pitching or who you are pitching to, customers demand authenticity. Don`t try to trick them, deviate them, or be insincere. They will see right through you and get disconnected in no time.

While you must tailor-make your message to your audiences, you must be comfortable with who you are. Be yourself and find your voice. Be quirky on the stage if that is what you are at home. Tell all those interesting stories even if they are embarrassing and personal. The best motivational speakers discover their uniqueness and learn to expose it with confidence in the public.

Selling your ideas is not just about flashy presentations or promising stars. It is purely about understanding your target segment and connecting with them emotionally. If you follow the above-mentioned advice, they will support your ideas- no matter how big or small.

Want to start your own business but don`t know what to do? Become an IBC (Independent Business Consultant) and earn up to INR 1 to 10 lakhs per month. What more? Get an opportunity to be recognized in Dr. Vivek Bindra`s world record creating mass digital webinars & Youtube Videos. Click here for more details: https://www.badabusiness.com/ibc

Categories
Startup

5 Effective Steps To Start Your Dream Business In Small Towns!

5 Effective Steps To Start Your Dream Business In Small Towns
5 Effective Steps To Start Your Dream Business In Small Towns

Are you someone from a small city of India, who has big dreams and innovative business ideas designed for small towns? Though with determination and passion anything can be possible, it can be hard to figure out from where to start with a small-town business idea.

There are many types of entrepreneurs. Where some want to start their own small startup business in their hometown purely out of a passion for what they are doing, others want to resolve a problem that they have just figured out in the marketplace.

So whether you want to start a dance studio, wellness center, or simply a business consulting firm, starting a new venture can be immensely intimidating. For those who want to start anything new in the small Indian towns—how can you ensure that you do it right?

1. Create Your List

Anyone who is planning to start a startup identifying a gap in a small town is as simple as a Google search followed by taking a walk. To start your own small business in your town will require in-depth research. And if you can take a business coaching program customized according to your needs, the road will become quite smooth.

Check out the local businesses that could be your competitors and observe what they are offering to the customers and where they are lacking.

If you don`t stay in the town where you are planning to open a small startup business, spend a weekend there. There might be restaurants with a full-fledged menu, but not a small café that exudes cozy vibes, hardware, and a beauty shop, but what else would you be interested in having there?

How can you provide a solution to the locals through your product or service will give you a great idea to come out with a great startup business plan.

2. Find out the other side

Once you have made your list, that`s just the beginning. Creating a list on your own is just one perspective. This brings us to the next step- asking the customer what it wants! Take a walk, greet, meet, and talk with random people. Ask them about their burning problems. Do they have to go far to buy fresh vegetables or do they love quality organic food, but don`t have a café that serves it?

Don`t just ask a group of people; ask as many people as you can. You can carry this task by driving around the high-traffic areas and spending a couple of hours asking questions and recording their replies. You will be surprised to hear the same ideas repeat.

By talking to a lot of people, you will also begin to build connections and relationships that might come in handy and will speed up the process of launching your startup business in small cities.

3. Figure Out the Gap Best For Your Business

Whether you are an independent business consultant looking to open your consulting services or a baker who wants to run her bakery, you need to make a list of businesses that will make sense for you.

For instance, maybe you have everything that is required to open a bakery shop, but you don`t want to open it. In that case, it is completely okay to cross it off the list. The aim is to find the three objectives that fit the 3 criteria:

a). What does your town or city need?

b). What do you enjoy the most?

c). What would you like to do

All you need to do is align these 3 things and you are on your way.

4. Protect Your Downside

Now that you have asked a lot of questions, created a list, and know which business you would like to start, it is time to ask structural questions to evaluate and validate the idea. One must find out and address all the challenges before launching a business through various questions.

Can you start on a smaller scale? Can you take a small place on rent instead of taking over an entire spot yourself? Can you get customers to sign up ahead of time?

If you find out that there are more challenges than you are comfortable with taking on then either you need to find out a better solution or head back to your list to fill the gap. If you have figured yours, addressed it why it wouldn’t work and you are still ready to move forward that brings us to the next step.

5. Startup Business Plan

If you have decided to move forward with your business plan, you might need to come up with a full startup business plan. Thanks to all the work that you have done earlier, you can create a great business plan, quickly.

So iron out an interesting business plan and always remember that it is a dynamic document. It keeps evolving and improvising. Find the gaps, refine the gaps, figure out what is best for you, manage downside risk, plan & execute.

Find the gaps, refine the gaps and figure out what will be the best for you and your niche market. To understand the dynamics of the business market, you can also join business coaching program for entrepreneurs. Learn from the industry leaders to understand how you can start a startup and run it successfully.

To know more about this course, visit www.badabusiness.com