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Motivation & Mind Control

5 Effective Tips To Become An Optimist

5 Effective Tips To Become An Optimist
5 Effective Tips To Become An Optimist

Optimism is a characteristic that seems so ordinary but is quite a powerful attribute. From leading a healthy life to better performance at work and satisfaction with your job, it has some seriously positive effects.

Optimism is one of the essential ingredients that makes you successful and can lead to a healthy lifestyle and a more successful personal and professional life. Optimism is the gateway to better health and a livelier as well as rewarding social life.

Being an optimistic person opens the gate of opportunities especially for entrepreneurs. Entrepreneurs have to face a lot of business challenges in their day-to-day life. From raising funds for the initial investment to making business strategies for growth and scalability, it is very crucial to keep a positive mindset and a healthy approach to various problems in life.

So what can you do to become an optimist, if you are more likely to be a pessimist? A motivational video by Dr. Vivek Bindra can give you quick tips and can inspire you to be an optimist. You can watch it here:

If you are more of a reader, here is a list of powerful tips that are quite effective to help you become an optimist:

1. Don`t Let Failure Haunt You

Human beings tend to dwell on their past, especially if we had a bad experience. However, being a prisoner of your past can stop you from moving ahead in your life. Convince yourself that failure is a part of life. It is important to keep moving ahead, no matter what. Learn from your past mistakes and failure and move on. Even Thomas Edison had to cope with 6,000 failures before tasting success in making the first electric light bulb. You can also work closely with the best motivational speaker to gain a more positive outlook on life.

2. Be Present

Like we mentioned in the first point, it is a waste of energy and time to dwell on the past. Similarly, worrying too much about the future can result in negativity that can spiral out of control. One of the best strategies for optimism is to stay more focused on the present.

Be present in every meeting and presentation with your staff and colleagues. Focus on the present and give your best in every moment. Always know that investment in now will result in a positive future.

3. Practice Gratitude

People often complain and whine about what they lack, but very few people feel grateful for the things they have in their lives.  To be grateful for the things you have is another sure-fire way to increase your optimism. When practiced regularly, gratitude has been shown to improve physical and psychological health, reduce aggression, stress, and anxiety. It also improves self-esteem, relationships, and sleeps patterns.

When you appreciate what you have, you have more positivity about all that is to come. Despite facing hurdles and challenges that life throws at you, expressing gratitude can help you to become an optimist.

4. Know no Limits

Humans can be a prisoner of their mindset. Sometimes, the challenge that you are facing currently is not that big. When you stretch your limits, your limits will expand. When you further stretch your expanded limits, your expanded limits will further expand. Work upon your mental blockages and try to think about the challenge from a creative approach. If you feel, there is no way out, you can also take help from the best motivational speaker in india.

5. Think about Your Strengths

Sometimes, one bad event can make us question our self-worth and confidence. However, it is crucial to remember that life is not made of only roses and rainbows. It also has rain and storms too! We all just need to learn to deal with difficult situations. Whenever you find yourself criticizing for a past event, think about your strengths due to which you have also experienced the good moments.

One of the reasons for dissatisfaction is when experience and expectations don`t match. Keep your expectations realistic to be more satisfied with the outcome. And always remember that not everything in professional, as well as personal life, goes according to our wish. The optimist has some powerful effects. To reap its benefits, always present in the moment and be grateful. All of this will result in a positive mindset.

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 exclusive Problem Solving Courses that come with Foundation courses, specialized courses, and value-added courses. To know more, visit: https://www.badabusiness.com/psc

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Motivational

Six Crucial Time Management Tips For Busy Entrepreneurs

Six Crucial Time Management Tips For Busy Entrepreneurs
Six Crucial Time Management Tips For Busy Entrepreneurs

Being an entrepreneur is like walking on a double-edged sword. Where the flexibility to work for your dreams without having to be accountable to anyone else is liberating, managing multiple tasks at hand in 24 hours can be challenging.

Time cannot be bought and sold. And just like Jeff Bezos and Ratan Tata, you too have just 24 hours to accomplish what you want to. Neither there is any way to get the lost time back, nor can it be bought from Flipkart or Amazon. It ticks away every second of the day. And if wasted, it is lost completely. Every online course for entrepreneurs talks about time management.

As an entrepreneur, the to-do list is always growing, and to tick everything off the list, you should know which elements hold the most importance. Not all time management methods work for everyone, you must get a broader view of what works for you and what don`t.

Successful business owners know how crucial time management is to ensure that things get done on time. So, if you are an entrepreneur who is struggling to finish tasks at hand, here are 6 time management tips to ensure that things get done:

1. Make Your P-0 List

Every morning, when you get up, you should not just throw yourself into the rabbit hole filled with random tasks. This will not just waste your time, but will also put your important work in the back seat. So, every morning, write your essential tasks on a piece of paper that needs to be completed in a day. Though many management tools are available on the internet, sometimes they can be overwhelming. But, if you are comfortable with managing your time with the help of those tools, go ahead.

Avoid Parkinson`s Law which states, “Work expands to fill the time available for its completion.” So don`t just will your day with non-essential work, just because there is time left in the day.

2. Give Yourself Deadlines

Not having someone externally putting pressure on you can be a positive as well as a negative impact on the work. If you are not careful, this can lead to unproductive multitasking and procrastination. You can keep extending the deadline or keep postponing the important meeting with clients if you don`t give yourself a deadline to meet. This is something that no online business course for entrepreneurs teaches.

Setting firm deadlines can be extremely helpful for almost any task. Whether it is writing a report or creating content for a website, meeting, or phone calls, a deadline can help you with accomplishing tasks at hand under a specific period.

3. Stop Stalling

Time is a luxury. And, if you want to afford it, you should learn the art of time management. So often we spend our time on social media or chatting with friends, eating, or giving ourselves a break every other hour, however, it could lead to more waste of time. If you too have the habit of giving yourself too many breaks, then it is time to stop. Time yourself and give yourself a strict deadline to finish things. Block your schedule, delegate, and time yourself. Everything works until you decide to delay simply because you have done a great job at delegating work and doing other things.

Managing time does not mean that you should have less fun; it is the art of knowing when to work and when to play.

4. Build Up Momentum

A day is going to be productive or not this decides the first few hours of it. There is a reason why the mornings of successful entrepreneurs start early and many businessmen are in the 5:00 AM club. When you are already up early in the morning and have taken care of a couple of tasks, it keeps you ahead of your competitors and sets you up for success for the rest of the day. Most often, we procrastinate because tasks are daunting. This takes away the momentum for the rest of the day, allowing you to do more.

5. Do Right Tasks at the Right Time

Time is by far the scarcest resource and the best way to maximize it is to work in a way that keeps you in sync with it. If you are a morning person, you can wake up early and take care of important tasks. While you can`t make more time, you can use it more efficiently by doing the right tasks at the right time. By making time for yourself, you can also take some online course for entrepreneurs to update and upgrade yourself.

6. Adopt the 80/20 Rule

80/20 rule has proved to be a game-changer for many successful entrepreneurs. According to this principle, 20% of your activities will account for 80% of your results. If you have 10 tasks to finish only two of them will produce any results. However, we waste our time by doing other eight things. Always analyze the outcome of all your tasks to determine which ones are producing results and which ones have just turned into a busy day. Once you have those answers, you will be able to adopt the 80/20 rule.

So many people complain about not having enough time to achieve all that they truly desire. If you too feel like this, the problem is not probably with the day, but with how you utilize the time available to you. Try the above-mentioned techniques to manage your time efficiently.

Are you looking to find solutions for your burning problems? Get practical solutions easily with our step-by-step learning strategies, action plan, frameworks that are designed to empower you with various business functions. Find solutions to every business challenge with our Problem Solving Courses.

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Startup

4 Big Common Legal Mistakes Startups Make

4 Big Common Legal Mistakes Startups Make
4 Big Common Legal Mistakes Startups Make

Starting a new business is no less than a marriage. Initially, everything is rosy and smooth, but as soon as the honeymoon period fades away, the real hustle begins. This is the reason startups need to have a clear legal agreement in place.

A startup business can face significant legal challenges due to plenty of mistakes made by its founders. These mistakes are generally made at the initial formation of the business, at the early stages of growth, and when dealing with staff. You can also hire the best business coach to get the right guidance.

If you are an entrepreneur and planning to start your dream venture, here is a list of common and legal mistakes you must avoid at all costs:

Mistake #1: Not Making an Agreement with Co-Founders

If you are starting your business with a co-founder, then you should have all the agreements in place at the initial stage of your business relationship. Not doing it can lead to various legal challenges down the road. A founder`s agreement is just like a “prenuptial agreement.” Here are the key legal terms your founder agreement must involve:

  • What are the roles and responsibilities of the founders?
  • How will the equity be split among the founders?
  • What is the overall goal and vision for the business?
  • What salaries are the founders entitled to? Factors that will lead to change salaries?
  • Is each founder’s percentage ownership in the company subject to vesting?
  • If one founder leaves, does the company or the remaining founders have the right to buy back the departing founder’s shares? If so, at what price?
  • How will a sale of the business be decided?
  • What time commitment to the business is expected of each founder? What constraints will be imposed on outside commitments?
  • How will key decisions and day-to-day decisions of the business be made? (by majority vote, a unanimous vote, or are certain decisions solely in the hands of the CEO?)
  • Under what circumstances can a founder be removed as an employee of the business?
  • What assets or cash does each founder contribute or invest into the business?
  • What happens if one founder isn’t living up to expectations under the founder agreement?

Mistake #2- Not Deciding the Structure of the Company

Because founders often start businesses without consulting lawyers, they do not decide the structure of their businesses. One of the very first decisions that any entrepreneur should make is in what legal form to operate the business. Due to the incorrect structure of the company, startups often incur higher taxes and become subject to significant liabilities that could be avoided by structuring their startup business as a corporation or a Limited Liability Company (LLC). You can also take help from the best business coach who can help you navigate with legal formalities.

Mistake #3- Choosing a Disputed Business Name

It is very important to do research when picking a company name as it helps to avoid trademark infringement or domain name problems. It also ensures that the name you select is available to use. Here are some steps that you can do to avoid naming issues:

  • Conduct a Google search on the name to check if it is already in use.
  • Before picking a domain name, search GoDaddy.com or other domain name registrars to see if the domain name you want is available.
  • Ensure the name is distinctive and memorable.
  • You can shortlist 5 names and test market them with prospective employees, investors, partners, and customers.
  • Avoid unusual spellings of the name as it can cause confusion and problems down the road.

Mistake #4- Not Adhering with Securities Laws When Issuing Stocks

If founders form a corporation, LLC, Limited Partnerships, or any other structure the sale of stocks, limited partnership interests, or LLC interests to the investors will be subject to state securities laws. Most laws require that such sales comply with certain disclosure, filing, and various other form requirements unless the sales are exempt. If any business fails to comply with these laws, it can result in significant financial penalties for the entrepreneurs and the company.

Founding a company is not much different from getting married. Everything looks promising in the beginning, but as the business evolves, complexity and stress become a part of everyday operations. So, with all of the things that go into launching a startup, one must get the Founders agreement, right!

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 exclusive problem solving courses that come with Foundation courses, specialized courses, and value-added courses. To know more, visit www.badabusiness.com

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Private Equity Funding

6 Things You Must Know About ESOPs Before Signing-up!

6 Things You Must Know About ESOPs before Signing-up!
6 Things You Must Know About ESOPs before Signing-up!

Have you come across employee stock ownership plans? Are you being offered one by your organization but are not sure what it is? Whichever is the case this article will tell you everything about ESOPs?

What exactly are employee stock ownership plans?

ESOP is the term that offers employees a chance to have ownership in the firm. It recognizes the best-performing employees and rewards them with an equity stake or cash based on an equity stake. If you have been offered ESOPs in your current organization, it means that the company values your contribution and they wish to make you direct custodians of the company`s long-term growth.

The definition of ESOP was originally introduced in the Companies Act, 1956, which underwent a complete change in the Companies Act, 2013.

There are two types of ESOPs- selective plans and all-employee plans. While the selective plan is only for the senior executives, all employee plans provide the same facility to all employees of the company.

Key Factors you must know before you Sign-up

a). Grant Price- One of the main benefits of getting access to ESOPs is the discount between the grant price and the fair market value, at the time of exercising ESOPs. The lower the grant price, the greater profits you can make while exercising ESOPs.

In the case of startups, the grant price is decided at the face value of the unlisted stock or as value by a Sebi-registered merchant bank. For companies that are listed, the grant price is decided based on the average stock price for a certain period before the issue date.

b). Vesting or lock-in period- ESOPs generally come with a vesting or lock-in period before you become eligible to exercise your option to purchase the stock. The structure varies, depending upon the organization and employee profile. Hence, it is essential to understand what the vesting rules are for the stocks offered to you.

Startups often offer a 1+4 vesting period, which is treated as a minimum period. It maximizes the contribution of an employee in line with the value of ESOPs offered and improves employee retention.

c). Exit Options- When an employee leave the organization before the lock-in period, they lose their right to gain ownership of the ESOPs at the discounted price. If you have vested a certain portion of the ESOPs, they will be held in trust and will be available only after maturity.

However, various myths and facts are revolving around ESOPs need to be addressed. Here are 3 facts every employer and employee must know about ESOPs:

1. ESOP is for Every Organisation

ESOPs are for every organization that is generating profit to support the annual costs of maintaining the ESOP. The profitability of the company is more important than a company`s size. In a profitable ESOP organization, the tax savings alone can be enough to offset the annual costs.

2. Offering ESOPs Does Not Effect Operations

Many company owners feel that after establishing an ESOP, they will have to consult their employees on regular basis regarding the company`s operations. However, the matter of fact is that the management remains in control of the company. Even when the ESOP owns a majority, there is no loss of control of the company.

3. Disclosure of Finances Is Not Required

An ESOP is a qualified retirement plan. Hence, the participants must be provided with the annual statement demonstrating the number of shares and the value for their benefits. No other financial disclosures are required by the organization to its employees who are share-holder.

The companies offer ESOPs to attract more qualified employees. They do it in a phased manner and provide stocks at the end of the financial year to reward their impressive performance.

Many companies startups and companies that can`t provide high packages, offer ESOPs to their employees. We hope we have shed some light on the current trending term- ESOPs.

Are you looking to find solutions for your burning problems? Get practical solutions easily with our step-by-step learning strategies, action plan, frameworks that are designed to empower you with various business functions. From finance to HR, Digital Marketing to IT & Sales, find creative solutions to prominent business problems easily. Click here to know how more about our problem-solving courses: https://www.badabusiness.com/psc

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Motivational

8 Ways To Become A Powerful Public Speaker

8 Ways To Become A Powerful Public Speaker
8 Ways To Become A Powerful Public Speaker

Speaking out in front of people is one of the biggest phobias in this world. Though it may not cause much of a problem in a few areas of everyday business, it could be harmful in the business world. You might have the best startup business idea, but you hesitate to say it in front of your colleagues and peers because of the fear to speak in front of people.

Speaking during the official meetings or conversations helps you to keep engaged with your peers, but also resolves problems and helps to boost your career.  Most often people who have fear of public speaking think that their audience might laugh because they are not being insightful. However, truth be told, no one expects anyone to be 100% witty or insightful all the time.

It is just a matter of starting to present your ideas with a few simple statements or questions. Once, the flow is set, the conversation takes its natural course. Many entrepreneurs miss out on some great opportunities because either they are not comfortable with speaking or they do not speak fluent English.

To get quick tips on learning and speaking English, you can watch this amazing video by Dr. Vivek Bindra, the best motivational speaker in India, here:

Here are 8 ways in which you can gain confidence to speak up:

1. Prep Up Before Finale

If you have a fantastic idea that you are afraid to put out in the open, do a dry run. Share your idea with a person whom you trust and take their feedback. Later, commit yourself to sharing it during a meeting to introduce your idea. You can later ask your colleagues to gain an outside perspective on what they thought of your contribution. Credible feedback from a trusted source can boost your confidence. You can also take the help of a business motivational speaker to help you find your voice.

2. Write Down What You Want to Say

One of the best things to learn when it comes to overcoming your fear of public speaking is to find out an occasion where you felt comfortable speaking.  When you feel comfortable it reduces anxiety and minimizes stumbles and stutters. Hence, write down what you are going to say as it will make you aware of the content. It gives you a clearer picture of what you are going to talk about and makes you sound clearer and more concise. It is okay to read your thoughts and feelings as it lets others know that this is something.

3. Develop Skills in Low-risk Environments

Identify opportunities to get out of your comfort zone. Look for environments and ambiances that are lower in risks and where there are people who are strong support systems for you. Let a colleague or a trusted mentor know what your areas for improvement are and that you want to build confidence in this area. You can ask them to observe and share feedback to help you grow. Like any skill, practice will help you improve and overcome your public speaking phobia.

4. Take Action, Than Seek Perfection

One mistake that most people do is that they often think that they have to feel confident to act with confidence. However, it is just a myth. Confidence comes from taking action. So stop waiting until you are ready or your idea is ready. Create your confidence by taking action and speaking up.

5. Focus on Facts, Not Emotions

To become an effective public speaker, you need to have clear communication. Having clear communication will allow others to align with your opinions, solutions, and suggestions. You will become more confident where you share the stats and facts, and not be emotional around what you are sharing.

6. Pay Attention to your Body Language

Your body language is equally important when you are speaking in front of the public. Working with a trainer or a business motivational speaker can help you make more aware of how you carry yourself and speak in different situations.

7. Become a Better Listener

Effective listeners are just as important as the talkers who fill the meeting rooms with their voices. Listen, watch and observe the patterns of their behavior and speaking style. You will then find your sweet spot.

8. Let go of the Outcomes

One of the things that stop people from sharing their opinions and ideas is the fear of rejection. So let go of the outcome and share for the sake of sharing your knowledge. Be less attached to the outcome and expect less. Speak up, express your position—irrespective of the response, it is worth doing.

Let go of the fears of speaking in public with the 8 tips that we have shared above. You can watch some of the best inspiring videos by Dr. Vivek Bindra on how to become a confident public speaker on his YouTube channel too.

If you are an entrepreneur or a small business owner,  to help you move forward with your business goals, we at Bada Business offer problem solving courses that come with Foundation courses, specialized courses, and value-added courses.

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Leadership Building

5 Skills Entrepreneurs Must Seek In Their Employees!

5 Skills Entrepreneurs Must Seek In Their Employees!
5 Skills Entrepreneurs Must Seek In Their Employees!

As the pandemic has changed the world forever, it has also forced the world to think beyond the obvious and come up with something revolutionary.

In the first and second quarters of 2020, there have been mass layoffs by the companies. According to a report by the International Labour Organization (ILO), around 81 million jobs are wiped out in 2020.

We are in 2022, but every year, one or the other virus variant keeps giving us surprising visits. Thankfully, in India, a significant amount of the population has been vaccinated and the economy has also begun to look promising.

Many startups are doing well and have joined the Unicorn club. Other startups like Nykaa have got themselves listed on the stock market.

Needless to say that building efficient manpower would be one crucial step to transform the businesses. The process of hiring criteria post-Covid is going to be a demanding exercise.

For large businesses or small businesses, the pandemic has paved way for smart thinking. If you are an entrepreneur and looking to expand your team, these set of skills you should be looking for in your prospective employer:

Reliability

Any business becomes successful when it is being consistent in its customer service, product performance, and the productivity of its employees. If your employees are not consistently performing well or focusing on their productivity, your startup business will not experience growth. So always hire people that show consistency in their behavior and resume.

Analytical Thinking

You don`t need hands & legs to drive your organization, you need a head and heart to drive your organization. Thus, people who can think critically, quickly, and can solve problems with ease should be given preference. Complex problems need creative solutions and this new hiring trend will focus on such analytical skills.

Agile & Flexbile

The smartest business decision you can make is to hire qualified people. Therefore, hiring the right people is very important.

Apart from looking for qualifications and skills ‘flexibility’ is what you should be aiming for. Flexibility is the need of the hour, and we all must look for people that can easily adapt to the new working norms.

Hire people who come for the love of the job. A person who loves challenges will deliver the service and products just the way your customer needs and would be the right fit for the business.

Creative Mindset!

Modern problems need creative solutions. If there is one thing that can never be off-the-shelf that is Creativity! Thinking out-of-the-box will always bring a sense of innovation in every dimension of business. Creativity can take you to places and help you discover practical solutions to various business problems. Hence, bringing in a creative mindset will take your business to a whole new level.

Versatility

Courtesy to Covid-19, new tasks, roles, and responsibilities have emerged suddenly. Hence, we all must stretch ourselves to the optimum level considering the hiring trends post-Covid. But, of course, we just can`t expect a CA to fix our desktops. But, yes, an employee must have a vision and a perspective. The prospective employee must bring a set of multiple skills that will outdate role titles and definitions to benefit your business.

Making a comeback from a struggling situation is not easy, but reaching out to the right people is. Shift your perspective from the mainstream recruiting process to a creative one.

As the hiring trends have changed, make use of Twitter and Linked In to interact with job seekers and connect with them on a personal level too.

For other business problems, you can take online business courses for entrepreneurs. 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 exclusive problem solving courses that come with Foundation courses, specialized courses, and value-added courses.

To know more, visit: https://www.badabusiness.com/psc

Categories
Startup

How To Start Tea Stall Business Under 20k In India

How To Start Tea Stall Business Under 20k In India
How To Start Tea Stall Business Under 20k In India

In India, tea or a ‘garma garam chai’ is something that starts a day, ends a day! From greeting guests to making interesting conversations, a cup of tea is the solution to every problem. Mornings are incomplete without them. And it is no secret that we Indians love our morning tea. Whether you have to rush for a morning meeting or manage your household chores, a hot cup of tea gives a great start to our mornings.

According to a report published in Economic Times, India is now the world`s 10th fastest growing market for specialist tea and tea retail chains. The industry is estimated to grow 6.9% a year to Rs 4,540 crore by 2023 in value sales’.

The industry has gained popularity, especially among young consumers. Specialist tea shops attract youth, especially in large cities. So, if you are planning to open a tea stall business under 20K, it would be a perfect time to do it.

Opening a tea shop can be profitable and a self-rewarding business. So if you are a young entrepreneur who wants to become financially independent, open a tea stall business.

Here is a step-by-step guide to help you come up with a brilliant tea shop business plan:

1. Choose a Perfect Chai Stall Business Model

Having the right business model is paramount for any startup business. Hence, you will have to decide which type of business you would like to start. You will have to zero in on whether you want to come up with a small tea stall or a café.

A small tea stall business sells low-cost tea to the customers along with snacks. Depending on your investment capacity, you can decide whether you also want to provide seating arrangements to your customers. You can use disposable cups and provide snacks like omelets, toasts, and other snacks.

This is a low-cost tea shop business idea and can be started with as low as Rs 20K.

2. Should You Go for Franchise or Ownership

In urban as well as cities in rural areas, the demand for tea has gained popularity. A lot of companies are now offering franchise business opportunities to new entrepreneurs, solopreneurs, and wantrepreneurs.

If you want to start a tea and snack stall with a brand, then a franchise is the best option for you. Why? Because an already established brand will attract customers since the very first day.

However, if you want to start your own tea stall business under Rs. 20,000, then starting your own business is more profitable for you.

3. Pick a Location

The next thing that you must do after deciding the business model, you will have to find an apt location for your tea stall. The choice of location can be the deciding factor between success and failure.

  • Always select a place which is located in a busy market or shopping area. This will ensure you get high footfall throughout the day.
  • The location should also be easily accessible by the consumers. Your selected place must also possess great visibility too.
  • It is very important to understand your target audience. You can then choose your location accordingly.
  • The location should be affordable too. It is best to choose a place for your tea stall business that is easily affordable. Also, check the lease fluctuation patterns of the past few years.

4. Business Registration & License

Most of the tea-stall businesses in India run as proprietorship models. If you too are planning to follow the course, your PAN card is sufficient for that. You will also need a Trade License from the Local Municipal Authority.

5. Go Online

With a nominal investment, you can sell your tea online on the internet. If you do not have enough funds to advertise, you can use the power of social media platforms.

The online presence of your brand on popular networking platforms like Facebook and Instagram can help to build your brand`s reputation.

Opening a tea stall business in India is one of the most popular business ideas. However, it also needs a great deal of market research and business planning. You can learn the dynamics of business, challenges you might face, and solutions in advance to make your business successful with our Problem-Solving Courses.

Want to start your own tea stall business? Click here: https://www.badabusiness.com

Categories
Business motivation

7 Business changes That Every Entrepreneur Must Prepare For 2022

7 Business changes That Every Entrepreneur Must Prepare For 2022
7 Business changes That Every Entrepreneur Must Prepare For 2022

Summary: Since the pandemic has struck the world, the dimensions of business have changed. If small businesses want to survive, entrepreneurs must adopt changes to survive a post-pandemic future in 2022.

The economic landscape has changed dramatically over the past two years because of the pandemic. The dynamics of business have changed. The demands of the customers have changed. And, as the global economy is preparing for a post-pandemic future in 2022, small businesses need to adapt to the changing scenarios to adapt & survive.

Here are 7 changes that every entrepreneur must be prepared for 2022:

1. Purpose overrides Product Specifications

Having a defined goal and purpose is essential for a business to thrive in the market. Companies, today no longer exist simply to make profits. According to a report published in Entrepreneur by Deloitte’s 2022 Global Marketing Trends, having a purpose has changed from “aspiration to strategic priority.”

So consider why you are doing what you are doing. If there is a big idea or a problem they set out to solve, you can make it your purpose.

2. Understand Your Target Audience

Today, most successful brands and businesses make their customers the center of attention, whenever they are making an important business decision. Businesses need to understand their customer segments if they have to reach customers efficiently and cost-effectively.

Clarify your customer personas and divide them into the clear segment and allow your business to target each segment specifically.

3. Enhanced Customer Journeys

Marketing strategies are great, but they work only when you understand customer journeys. This simply means taking in all the conversations and interactions that your business has with customers. From the first time when a visitor visits your website, making a purchase, and navigating after-sales service- all are essential parts of the customer journey.

4. Make Marketing the center of your Growth Strategy

To secure the growth of your small business, marketing needs to be firmly at the center of your growth strategy. Over the past two years, many organizations due to pandemics have integrated marketing at the senior leadership level.

Forward-thinking businesses now have the opportunity to establish marketing at the heart of the company to ensure periodic growth.

5. Go Digital

If you are still relying on old and outdated marketing methods for marketing, it is time to go DIGITAL.  Utilizing technologies allows you to understand your customer behavior better. You can interact with them and discover the touchpoints that will help you to establish a more personalized experience with them. Depending on your product or service, you may even be able to deliver personalized products.

6. Multichannel Services

How do your prospective and loyal customers interact with you? Maybe you use chatbots, contact emails, or offer customer service. But, as more and more brands are increasing their brand presence online, your customers too expect a similarly high level of service across all the channels.

As all the channels are equally important, delivering a bad experience on a phone call not just leaves a negative impact on your team but also damages the customer`s opinion of the entire organization.

7. Mobility drives growth

According to Statista.com, “more than 50% of internet traffic comes from mobile devices”. And as the number of mobile devices continues to grow, this number also be growing year after year while desktop use continues to decline.

As a customer-centric company, you need to focus on delivering a mobile experience that is at least as good as your desktop-based website. Simple navigation, clear site-search options, and quick load times are key elements of successful mobile sites.

To grow in 2022, your organization must focus all of its efforts on building an enjoyable, customer-centric experience. This experience needs to be seamless across all touch-points and marketing channels. It becomes even more powerful with a clearly defined purpose at its core.

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 online course for entrepreneurs“ that comes with Foundation courses, specialized courses, and value-added courses.

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Startup Strategy

3 Key Things That Help Startup Businesses Dominate On Instagram!

3 Key Things That Help Startup Businesses Dominate On Instagram!
3 Key Things That Help Startup Businesses Dominate On Instagram!

Most entrepreneurs who have just set up a small startup business would agree unanimously that real, organic, and engaging followers on Instagram are the most powerful audiences that one can build on social media.

Today, Instagram has been a promising platform not only to gain more customers for your startup business but also one of the best ways to build your brand presence. If you have few thousand followers who are real and engaged, you can turn your Instagram business account into a multi-million dollar business in just a few years.

Many people think that there are some deep secrets that the most popular brands or Instagram accounts must be hiding, but truth to be told, there are no secrets. To grow on Instagram you only need three things- Time, Patience, and Hard-work.

So whether you have a startup business selling quirky t-shirts, or you are running yoga classes, these tips will help you launch your business on Instagram in a new light:

1. Post Engaging Content

Ask yourself one question- why would you want to follow a business account on Instagram? Will you do it for their awesome products or services that you might come to know from ads that they run, or because they post highly engaging content on their profile?

The answer is simple and true- for their content.

To grow properly on Instagram, a business must focus on posting content that is of high quality and engaging as well. Post engagement is what brings growth to Instagram and helps a brand to establish its strong presence.

Some people think that posting promotional offers on their profile will get them, customers. But the harsh reality is that nobody wants to see unnecessary promotional material on their feed. People want to follow accounts that deliver value. If you are an entrepreneur with a solid startup business plan, maybe it is time to rethink your entire content strategy.

2. Follow Accounts that Deliver High Value

Inspiration is everywhere. Sometimes you can simply get it from your competitors who are doing well in their business. You can follow them and they can follow you back. Many people have rejected the idea of following/unfollow strategy, however, if done correctly it can prove to be effective.

If you are struggling to build followers on your business account, you can implement the follow/unfollow strategy. Also finding the right people to follow is the biggest issue and this is where most of the strategies fail. It is very essential to find the right kind of people who would be genuinely interested in your specific type of content. To find accounts that will be interested in your type of content and carve out your own space by increasing 500 followers per month on Instagram.

3. Be Ultra Social

Instagram is a social media platform. Unlike LinkedIn, you need to engage and socialize with your followers to keep them following your account here. And it can be rewarding for the social people. If you have a small startup business that has something to offer people- a product, service, or simply your expertise on a particular subject, there are plenty of ways to find value on Instagram.

If you engage with others, people will engage with you. And Engagement leads to growth and you will likely begin to gain followers from your contributions.

Social Media platforms can be really rewarding and prove to be a contributing factor in your business growth if used to their maximum potential. Many entrepreneurs think that there must be some easy-way-out like buying followers, but that is not organic and will harm your online presence in the future.

So use these three hacks mentioned above to increase followers by creating great content, and you too will find great success for your business on Instagram. To learn more about marketing strategies and techniques that work, you can take our Problem Solving Courses.

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Startup

Top 7 Growth Strategies To Expand Your Startup Business In 2021

Top 7 Growth Strategies To Expand Your Startup Business In 2021
Top 7 Growth Strategies To Expand Your Startup Business In 2021

Thanks to vaccination that is taking place worldwide, the global pandemic might soon be winding down. Small businesses that were hampered due to the imposed lockdowns are preparing themselves to go back to their ‘normal’ pre-pandemic operations.

But, what if you have been sitting on your hands throughout the pandemic and have decided to start working on a startup business ideas now?

Well, restrictions are being lifted, companies are making major transitions in their operations and consumers are re-discovering the world again.

In such a thriving and growing scenario, it might as plain genius to ask “what are the top seven opportunities available right now to scale and grow your startup business?” “What are the best growth strategies that a business motivational speaker would have given you if you have hired one?

Here is a list of the top Seven Post Pandemic Growth Strategies:

1. Curate a Pandemic-proof Offer 

  • Focus on personal branding as well as establishing your brand online with authority and status.
  • Make full use of Content Marketing for a strong digital brand presence.
  • Share a story that is associated with your brand and articulates your product experience with testimonials as social proof.
  • Virtualize, digitalize and dematerialize.
  • Use social media channels to reach out to your niche audience.

2. Get Deep, Expensive & Narrow

  • Networking is crucial for business! Build deep and meaningful relationships with potential investors, clients, and customers.
  • Widen your reach of audience and break the geographical constraints.
  • Find out creative ways to burn customer`s problems.

3. Use Podcasts & Create Content Rapidly

  • Start your podcasts to create a brand value.
  • If you don`t want to start on your own, get on podcasts where your ideal clients will certainly hear you.
  • Why Podcasts? These are the fastest and easiest way to get SEO.

4. Strengthen your SEO Game

  • If your business is not ranking on Google immediately, you are doing a huge disfavor to your business.
  • Start working on your SEO game with disciplined and quality content creation.
  • Use content marketing to generate qualified leads and credibility.
  • To earn credibility as an entrepreneur in the market, you can either interview or get interviewed by experts related to your industry on podcasts, social media platforms, or blogs.

5. Email Marketing is Still Alive & Flourishing

  • If you are an entrepreneur who is looking to make some strong connections, Email Marketing can be your best bet.
  • Not only for connection building, but it can also lead to sales generation.
  • Facebook, Google, Instagram, and other major platforms can delist or remove you at any given time. But through email marketing, you can drive traffic back to your website and build a list.
  • Invest in a cold email.

6. Embrace Virtual Reality

  • Since the pandemic struck, our real world has been merged with the virtual one. So why not accept the fact and think about growing business around it?
  • If you are a business coach, you can deliver business motivation events through a webinar.
  • Think about the constructive usage of VR and combine it with your business interests. 

7. Create a ‘WOW’ Customer Experience

  • As the world is slowly reclaiming its normalcy, give your customers an unforgettable customer experience.
  • Retain the old customers, while reaching out to the potential ones.
  • Blend emotions into your marketing strategies to give your customers a sense of belongingness.
  • Don`t just sell, create an experience.

The key to achieving success despite the challenging times requires incredible storytelling, sending out a clear message to a higher-end audience, and how amazing your customer feels post purchasing your product or service.

Don`t focus on the transaction, it’s the transformation that sells.

Use the above growth strategies to expand and grow your business in the post-pandemic world and let us know how did they work?

If you are an entrepreneur and looking to find solutions for your burning problems then you can get practical solutions easily with our step-by-step learning strategies, action plan, frameworks that are designed to empower you with various business functions.

From finance to HR, Digital Marketing to IT & Sales, you can find creative solutions to prominent business problems easily with our ‘Problem Solving Courses’. Find tools meant for rising stars just like you – apps and services that let you manage many aspects of your business with the minimum investment of time and money, leaving you free to focus on the larger picture.