Tag: ROI

Categories
Marketing

5 Reasons Why Digital Marketing Is The Future Of Marketing!

5 Reasons Why Digital Marketing Is The Future Of Marketing!
5 Reasons Why Digital Marketing Is The Future Of Marketing!

From large organizations to small companies, everyone has realized the power of digitalization in the crisis. The adoption of digitalization will be the key to unlocking a brighter future.

Before we tell you five reasons, let us first tell you what digital marketing is!

To understand digital marketing, it is important to understand what marketing is first. The concept of marketing has always been about connecting with your audience and meeting them at the right place and at the right time.

Today, it simply means to connect with your audience and build a strong customer relationship where they are already spending maximum time- on the internet. Any marketing tactic that uses electronic devices to promote their business services or products on the internet is called Digital Marketing.

Businesses use digital channels such as search engines, email, social media platforms, and other websites to connect with existing and potential customers.

Why is digital marketing important these days?

Digital marketing helps you to reach a wider audience while sitting in one place. It is distinct from traditional marketing methods and targets potential buyers. It is more cost-effective as compared to traditional advertising methods and enables you to measure your success daily.

Although there are plenty of benefits of digital marketing, here are the top five:

1. Meet Your ‘Potential Buyers’ Directly

If you pick the traditional method of advertising like billboard, magazine, or on TV, you have very little control over who sees your ad. You can certainly measure demographics like viewership, readership, or population in a certain area- but it is still largely a shot in the dark.

Digital marketing allows you to identify and target a particular audience that is interested in purchasing your product or services. It also lets you send personalized and customized, high-converting marketing messages as it lets you research and identify your buyer’s persona.

2. Customize Your Marketing Efforts

While in a traditional method the ad on the billboard will cost you the same irrespective of the fact that the ad converts into a sale or not for you. Digital marketing enables you to track campaigns on a real basis and provides data. It can also let you have complete control over where you choose to spend your money.

If you work in a small company or have a small business with a limited budget for advertising, you can try investing in blogging, social media, or SEO which can guarantee high ROI even with minimal spending.

3. Let you compete with your competitors

Small business owners or entrepreneurs can use digital marketing to stay ahead of their competitors even if they do not have millions of dollars to spend on advertising. With effective digital marketing strategies like content marketing, SEO, and social media even small brands can create awareness and strong brand identity because search engines do not care which brand is the biggest and work on a simple algorithm. You can learn how to do digital marketing without burning a hole in your pocket easily!

4. You Can Measure Your Results

Digital marketing lets you have control over your metrics. You can see the number of impressions, views, shares, likes, and time on the page. This is one of the major benefits of Digital Marketing. It also allows marketers to see accurate results in real-time.

5. Meet Your Specific Marketing Needs

Digital display advertising and SEO, for example — are intended to catch everybody’s attention by casting a wider net; however, you can tailor them to meet your specific needs. Though these two avenues require significant time and financial investments to implement, they produce great results.

There are multiple digital marketing tools and tactics to learn. Each tool comes with its benefits and features. Every entrepreneur must understand the multidimensional features of Digital Marketing to make the most of it.

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

Top 4 Business Tips to Improve your Return On Investment

Top 4 Business Tips to Improve your Return On Investment
Top 4 Business Tips to Improve your Return On Investment

Summary: Finding ways to increase your business’ profits can be challenging. But with a little innovation and creativity, you may be able to move the needle substantially.

Every business analyzes its future by identifying past and potential financial returns. ROI or return on investment is a ratio of your company`s net profit compared to your financial investment in the business.

Many people often confuse this term with the profit margin. However, ROI is the financial return that you receive from spending money and not the profit received from the sale of goods and services. It helps the leaders to make informed decisions by kicking the guesswork out of the window. To know how you can increase the ROI of your business, you can attend Leadership Funnel Program 2.0 by Dr. Vivek Bindra.

Why is it Important?

The ability to calculate return on investment is crucial for every business, regardless of the company`s size or industry. A businessman is considered smart if he manages his expenses and monitors ROI regularly. Only businesses that can analyze ROI, survive in the long run.

So how can you improve your business`s ROI? How can you ensure that your business`s ROI is always increasing, no matter what?

Want to know which type of business model will give you high ROI? Watch it here.

Here are three ways that will help any business to receive higher ROI in every season:

1. Invest in High-performing Marketing Platforms

As part of their marketing strategies many companies often buy ads from Google and Facebook. But these platforms take a lot of initial investment before they could give you a significant return. If you want to increase your ROI without investing such a large amount, you should look for other platforms like YouTube and Instagram.

2. More Discounts Means Less Profit

Most often than not, many business owners purchase inventory from distributors and lend it to the market on credit. This technique only results in loss- loss of inventory and loss of return. Why? The reason is that you purchase the stock after making the payment in advance to the distributor. However, when you gave the stock on a credit basis with receiving the down payment, you will be deprived of the funds.

Hence, you will have to offer your stock or products at a discount that will eventually hit your profit margin. Always choose a business model where once you sell a product, you get your money back. You can become a franchisee of Bada Business to earn profits every week.

3. Choose a Business Plan with Zero Inventory Management

If you have a small business that stores goods in a warehouse, then managing inventory is an essential part of how you can control your stock. Inventory management is like storing ice. Once you have kept ice inside the warehouse, it will melt down into the water and will drown your profits under it, if you do not manage your stock smartly.

As the time of the stock increases, its shelf-life, as well as the price, begins to decrease. For instance, electronic devices and gadgets experience a price drop as soon as a new model with upgraded technology is launched. From perishable to non-perishable items, the value of stock starts decreasing if the goods stay in the warehouse for a longer duration.

Hence, it is best to order those goods that are popular and have numerous takers in the market. You can also pick a business plan that does not require you to stock up goods in a warehouse. To gain in-depth information from the experts, join India`s most powerful business training event ‘Leadership Funnel Program’ by Dr. Vivek Bindra. 

4. Margin

Whether you have a retail store, commodity business, mobile repair shop, or restaurant business, the profit margin is limited to 10%. However, the margin is not fixed and may be hit by external circumstances like an increase in cost, wastage of inventory, or expensive credit that can convert profit into a loss.

As an entrepreneur, you should always select a business model that returns high ROI. For instance, a Bada Business Franchise Partner enjoys a 20% to 50% of profit margin, without experience undercutting systems, with fixed prices.

If you are looking for simple and effective ways to improve ROI on your business, you should join LFP Bada Business. This event is designed to cater the modern-day entrepreneurs with practical solutions to business challenges.

To know more about our business training program, visit https://www.badabusiness.com/lfp?ref_code=SM&pp_code=BHBB000078

Categories
Startup

5 Ways Digital Marketing Helps Startup in Business Growth

5 Ways Digital Marketing Helps Startup in Business Growth
5 Ways Digital Marketing Helps Startup in Business Growth

Internet today has become an indispensable tool for almost any consumer who has to make a purchasing decision. According to a report by Forbes, people are spending time online more than ever before, and internet usage is increased by 50-70 percent. They use the internet for three hours on average for communication, research, entertainment, and information.

The data above indicates that business owners today must focus on connecting with their consumers digitally. Even if you are not selling any products or services online, your target audience is present on the internet and looking for the products you are selling.

Given the pace at which the market technology is changing, small business owners need to update themselves with go-to-market strategies.

Everyone has realized the power of digitalization in the crisis, from large organizations to small companies. The adoption of digitalization will be the key to unlocking a brighter future and many entrepreneurs are now working with the best business coaches in India to build strategies aligning with their company’s goals.

This is why Digital Marketing is defined as the future of marketing. You can learn how to do digital marketing without burning a hole in your pocket efficiently!

But First, Let’s talk about Digital Marketing.

The concept of marketing has always been about connecting with your audience and meeting them at the right place and at the right time. Digitalizing everything means connecting with your audience and building a solid customer relationship where they are already spending maximum time- on the internet.

Any marketing tactic that uses electronic devices to promote their business services or products on the internet is called Digital Marketing. Businesses use digital channels such as search engines, email, social media platforms, and other websites to connect with existing and potential customers. Many small companies also take assistance from a business coach for entrepreneurs to leverage the power of digital marketing.

What makes digital marketing crucial for startup growth?

When you purchase an advertisement on a billboard or physical newspaper, you reach a limited number of subscribers. It is distinct from the traditional marketing methods and targets potential buyers. It is more cost-effective than conventional advertising methods and enables you to measure daily success.

If you are an entrepreneur, here are the top five ways how innovative use of digital marketing can help you in business growth:

1. Reach Your Target Audience @Minimum Investment

As we have mentioned above, picking traditional advertising methods like billboards, magazines, or TV does not guarantee to hit your target audience. Also, the conventional techniques give little control over who sees your ad. Though you can measure demographics like viewership, readership, or population in a particular area, it is still a shot in the dark.

Digital marketing allows you to identify and target a particular audience interested in purchasing your products or services. It also lets you send personalized, customized, high-converting marketing messages as it allows you to research and identify your buyer`s persona. Implementing these strategies by working with a good business trainer is easy.

2. Helps You Achieve More Results with Minimum Investment

With digital marketing, you can track campaigns in real-time and collect data to analyze what works and does not work with your target audience. It can also give you complete control over where you spend your money and of what amount.

Work in a small company or have a small business with a limited budget for advertising. You can try investing in blogging, social media, or SEO that can guarantee high ROI even with minimal spending. It is a beautiful way to build your online presence. You can also work with a business coach for entrepreneurs to make powerful marketing strategies.

3. Helps You Understand Your Competitors Better

Small business owners or entrepreneurs can use digital marketing to stay ahead of their competitors even if they do not have millions of dollars to spend on advertising. With effective digital marketing strategies like content marketing, SEO, and social media, small brands can create awareness and strong brand identity. Search engines do not care which brand is the biggest and work on a simple algorithm.

4. Lead Generation

One of the primary reasons behind advertising and marketing is lead generation. Though many advocate that traditional methods generate more leads, there is no way you can measure it. Media buyers may say that people saw your commercial, but how do you prove it?

A digital ad allows you to create an ad, track its engagement, and generate leads. The digital ad tells you how many people got engaged with your ad and enables you to add them to your email and phone lists. You can contact them to qualify the lead, which is critical for converting a lead to a sale. If you are working with a good business mentor, they can help you develop robust strategies for lead generation.

5. Stay Connected with Your Customers

“Out of sight is out of mind,” which is why it is essential for brands to stay connected with their customers, especially after they have done business. Social media platforms give a golden chance to every business to engage and build relationships with their customers.

Digital Marketing has the power to turn the tables around for startups if used strategically. We hope the above reasons will encourage you to actively and strategically incorporate digital marketing.

The idea of managing a business is more straightforward said than done, and we 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 with Foundation courses. These specialized courses focus on business challenges like Digital Marketing and value-added approaches.

To know more, visit: www.badabusiness.com

Categories
Startup

7 Expert Tips To Allocate A Marketing Budget For A New Startup Business!

7 Expert Tips To Allocate A Marketing Budget For A New Startup Business!
7 Expert Tips To Allocate A Marketing Budget For A New Startup Business!

According to a report in the Times of India, “India is home to 81 unicorns as of now, with a total valuation of $274 billion.” With so many startups joining the league of Unicorns, it has become essential for the existing ones to focus on their branding and marketing game.

Branding and marketing are those two pillars in an organization that help a business to reach out to its potential customers. But as there are so many marketing avenues, small startup businesses often face the challenge to determine where they should invest their limited marketing resources.

Startups often lack clarity at early stages on how much time, money, and effort they should spend on their advertising, public relations, branding, social media planning, and content strategy at the outset.

So, if you have a startup business made from your dreams, passion, and determination, here is a list of some of the most effective strategies to help entrepreneurs and founders to develop first-time marketing budgets to optimize their investments and achieve maximum results:

1. Master One Method First

Just like when we learn driving, we want to do everything at once. But, as the primary rule, we learn to control the steering wheel. Similarly, as an entrepreneur, you should pick one thing and do it well. Once you have mastered it you can start focusing on building out the other options as you begin to get more business. Focus all your efforts, time, and money on a single method and use that as your power to get more business and break through the noise.

2. Pick Measurable Outcomes

When looking out for the best marketing choices, it is best to find out what you want for your measurable outcomes to be. For instance, if you want to sell 200 products in your first month, with an average value of INR 500 per customer, you should provide this to a marketing company to receive quotes on actions, and not just marketing services. It will help them to filter out the options deemed best for your business on actual budget samples.

3. Allot a Budget to a Few Targeted Areas

It will be unrealistic for any business to allot a budget without considering their revenue. A new startup must need to consider its targeted areas and how much budget should be allocated. It is best to focus on one target area and then grow into others as traction is gained. You can also take an online business course for entrepreneurs to learn more about marketing and advertisement.

4. Find Out How Each Strategy Will Impact Your Business

While budget allocation initially is a smart decision, understanding how each strategy is going to impact your business is paramount. Dedicating between 10 to 20 percent of gross revenue is a good starting point to invest in marketing and advertisement. Basics such as collaterals should not go beyond 5% of your gross revenue unless a brand strategy calls for it. PRs, advertising, communications are all similar. But to determine what will help your business to grow and attract your potential customers is essential. Focus on what is going to help you succeed.

5. Build a Scalable & Multi-Year Strategy

In the first year, you need a logo, a website, and some basic branding elements. But one most essential thing is content. You need great content for any marketing strategy to work. And as your company grows, you can spend more on advertising and promotions. When your company begins to scale, you can increase your budget.

6. Know Your Customer Journey

One of the most crucial things that every startup must do is that they should have a solid understanding of their customer journey. Run test ads on social media platforms and Google to find out how much you will have to spend to acquire a customer. You can also take an online course for entrepreneurs for marketing.

Investing in PR and branding can help you to lower your ad expenditure, only if done right. It will also increase your conversions, and give you a better idea of how much you must invest and in which medium of marketing.

7. Begin with Organic Marketing

There is no magic formula or shortcut to marketing your brand and advertising your products to increase your revenue. Startups should always begin with organic efforts, such as content marketing, PR, SEO, before diving into big ad spending. Why? It offers three benefits:

a).  It reduces your budget

b). It lets you find out what works by trial and error before investing in advertising.

c). Delivers ROI

Every single penny plays an essential role in a startup budget. Hence, it is important to allocate the budget carefully for marketing and advertising. Hope the above-mentioned techniques will help you to seek out choices that will give you the best results for your startup business.

Having a compelling marketing idea is great. But you know what is even better? Personal guidance to increase your brand presence consistently to facilitate sales, engage your customers and close leads. Our Problem Solving Courses can help you to overcome marketing and advertising challenges.

Categories
Business motivation

8 Most Important Skills Entrepreneurs Must Have

8 Most Important Skills Entrepreneurs Must Have
8 Most Important Skills Entrepreneurs Must Have

Summary: Being an entrepreneur sounds exciting! But what are the skills that make an entrepreneur successful in this world full of cut-throat competition? Find out in this article.

Being your boss, working for your dreams, pursuing your passion, solving burning problems of consumers—these are a couple of factors that define the life of an entrepreneur. But these are just glorified surfaces.

An entrepreneur also has to take care of multiple roles alone. He not only has to ensure the continuity of the business but also has to take difficult decisions regularly.

So what makes an entrepreneur successful? What are the most important skills you need to have as an entrepreneur? To answer all these questions, we have curated a list of 5 skills that every entrepreneur must have:

1. Curiosity

Curiosity has led human kind to a lot of amazing places and discoveries. That being said, it is a no-brainer to mention that great entrepreneurs have held this aspect of their personality closer to their hearts. An entrepreneur is tasked to discover new challenges, bring innovative solutions, reveal potential niche opportunities, and refractor their original business process. This is possible only when someone is passionate about distinct fields of study and business cases outside of one`s comfort zone.

2. Time Management

Defining milestones, carefully planning strategies, execution and iteration are all essential for a business to keep it evolving. However, none of that would materialize and lead towards progress without the right project management and efficient time management methodology that gets the work done.

3. Critical Thinking

No business has ever experienced the course of a smooth road. This simply means that entrepreneurs must learn how to decipher a problem to its core and reveal growth opportunities. This requires figuring out creative solutions to identify the low-hanging fruits.

4. Efficiency

When it comes to resolving a problem, one needs to be highly efficient. Hence, an entrepreneur needs to be equipped with the best of techniques like applying the 80/20 rule and other techniques that will yield higher results in less time. You must also be able to switch between different chores to experience progress effectively day-to-day.

5. Resilience

Not every day is the same! Some days will be good, while some days will be gloomy. Hence, entrepreneurs need to learn how to handle rejections, burnouts, stress, lack of focus, and slow progress.

6. Networking

To scale business operations, networking is very important. Growing a network facilitates business opportunities, partnership deals, finding investors and future employees. With good networking skills, you can expand the horizon of PR and convey the right message on all fronts. Hence, to be a successful entrepreneur one needs to be able to outreach to open new aspects for your startup business.

7. Finance

Finance management will make or break a business. Handling resources properly and carefully assessing investments compared to ROI is a solid requirement for entrepreneurs.

8. Persistence

As an entrepreneur, you will have to be passionate about your business. You must be willing to give whatever it takes- your time, your energy, money, and any other resources to accomplish your goals.

You must be ready to not give up and persist through trying times to achieve the goals you have set for yourself and your team. No successful entrepreneur has ever had a road full of roses. All of them have their share of struggles to reach their path to success. So, don`t give up, when hard times hit you.

If you have these skills, you can become a successful entrepreneur. However, 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 online courses for entrepreneurs that come with Foundation courses, specialized courses, and value-added courses.

You can boost your sales easily with the right guidance of a business expert.  Learn to generate high revenue earning products for sales, generate payment links for customers, managing account-related details. Solve your problems in just one click: https://www.badabusiness.com/psc

Categories
Startup Strategy

5 Unique Strategies To Grow Startup Sales

5 Unique Strategies To Grow Startup Sales
5 Unique Strategies To Grow Startup Sales

Are you looking to build a huge audience for your small startup business?

Of course you are. After all, revenue is what keeps a small startup business thriving in all seasons.

And when it comes to startups business everyone wants more sign ups, subscribers and users. But the major problem that the majority of the entrepreneurs face is their lack of awareness how to do it very quickly, and without burning a hole in their pocket.

Thankfully, the secret to getting a huge response from your customers doesn’t lie in outspending everyone else.

It lies in getting more creative with your marketing tactics and to think out-of-the-box. Unique marketing strategies will give you bigger results than you will ever achieve even with huge spending. This kind of unexpected growth is called growth hacking.

If you want to build a massive success for your small startup business, here are 5 ways to start growing your business like never before:

1. Launch a Referral Program

If you are looking to develop a huge customer base quickly, you need to look into referral marketing. A basic strategy with amazing results! All you have to do is allow your customers to help promote your products for you. It is a simple concept, but not many startups have put it to its best use.

These days’ customers trust more on personal recommendations than all other forms of marketing. Hence, use it to the fullest and it is the best way to build a viral interest in what products or services you have to offer.

2. Turn your product or service into a challenge

One of the biggest problems with viral marketing is that it becomes quite tough to tell what the company has to offer.  If you create a product video that not everyone loves, you might not get the recognition that you desire. So make your product the focal point of the viral marketing campaign that you want to run.

3. Email Marketing

Despite predictions of its death by the marketing world, emails are still a very common and frequently used medium for communication. Emails are still around and delivering a handsome return on investment (ROI) to marketers who know how to use it for their perusal.

According to a research conducted by Demand Metric and the Data & Marketing Association (DMA), “email marketing had an impressive ROI of 122%. And every startup would want that kind of ROI on email marketing. So craft a crisp, engaging and attractive email copy.

If you want to know how you can craft catchy email lines, read it here.

4. Social Media Marketing

Social media marketing is one of the most powerful tools these days. According to HubSpot, “90% of the marketers confirmed that social media is important to their businesses.”

So what is the best way to grow your brand on social media? Build high-quality content regularly and post it on social media. You can seamlessly use social media channels and post manually on platforms like Facebook, Instagram, LinkedIn, and Twitter.

5. Reach out to a Specific Community

If you want to build a user base faster for your brand, you need to have a clear understanding of who your customer is. Once you have understood the persona of your buyers you can then create content specifically made for them. The more customized your content will be, the more effective your campaign will turn out to be.

For entrepreneurs reaching a bigger customer base is crucial. It will not only help to establish their brand, but will also attract more customers. So apply the above mentioned techniques and see your sales growing.

Having a compelling marketing idea is great. But you know what is even better? A personal guidance to increase your brand presence consistently to facilitate sales, engage your customers and close leads.

This is why to help you move forward with your business goals, we at Bada Business offers an exclusive Business Coaching Program that comes with Foundation courses, specialized courses, and value-added courses.

Categories
Startup

How To Discover What Kind Of Business Should You Start?

How To Discover What Kind Of Business Should You Start?
How To Discover What Kind Of Business Should You Start?

Whether it is a catering business or a packaging business, tiffin service, or a coaching center, starting any business takes a lot of time, effort, money, planning, and effective strategies. And while you must have come across millions of blogs and articles about plenty of interesting startups business ideas, nobody would tell you in those lengthy blogs about which business should you start with.

Many aspiring entrepreneurs though share the similar goal of starting a small business, but they do not share similar interests and personalities. While some have personalities that make them great candidates for the education industry, others might feel more inclined towards hospitality. But with so many amazing startup business ideas with low investment, it can be difficult to decide which kind of business you must start with your hard-earned penny and valuable time.

Many successful businessmen have experimented with different ideas before nailing with the perfect one. But you do not have to repeat the same mistakes. Here are five questions that you should ask yourself before picking up the right business for you:

1. What are you passionate about?

Passion is the key to many innovations that happen every minute across the globe. It not only excites and motivates a person but also makes anything more exciting and gratifying. So ask yourself what are you passionate about? What makes you happy? What is that one thing that you keep thinking about?

For instance, if you are passionate about making an impact on thousands of people, you can become a motivational speaker or a business coach.

If you love solving puzzles, you can start a business consulting firm in India. These startup businesses need low investment and can be a good business idea for someone who loves interacting with people. Similarly, for a person who is not so keen when it comes to communicating, starting a consulting firm will be the wrong business idea.

Pursue what excites you and assess what does not!

2. What are the current industry trends & business models?

Ask any business coach about one important factor you should consider before starting a startup and he or she will suggest you analyze the current market trend. No, we are not saying that you should start a business just because it is trendy. But keeping an eye on the industry trends will give you an idea about what is in great demand and if your business will have customers.

For instance, it will be not wise to open a DVD rental shop in 2021 when NETFLIX and Amazon Prime have taken the lead. Hence, make sure that the business you are investing in will survive for a longer duration.

3. Always play by your Skills & Abilities

Self-awareness is a superpower for the personal as well as a professional sphere of life. Knowing what you are good at and what you are not can make a huge difference in your success.

For instance are you detail-oriented or do details make you break in sweat? Starting a bookkeeping business for someone who hates spreadsheets would result only in a disaster. But if you are someone who loves to come up with creative designs, starting a graphic design or a website design business would be an ideal fit for you. A great business coach can help you assess your strengths and weaknesses.

4. How much money are you willing to invest?

There is an African proverb that says, “You need to cut your cloth, according to your size.” So how much money are you willing to invest in your business should be a significant question that every entrepreneur must ask before starting a startup business idea.

If you want high returns, then starting a multi-unit franchisee across a variety of brands could be a better business idea, considering you have that much money to invest in.

5. What is your biggest ROI?

Just like we have different goals behind working full-time in an organization, the goal behind starting a business may vary.

Ask yourself what do you view as the biggest return on your investment in your business? Is it the money or the time with family? Flexible work schedule or do you want to leave a legacy behind?

People have different motivational factors in their lives. You must find out yours. After reviewing these questions, you will find clarity on your priorities, passion, and your values. This will help you to narrow down the right business for you.

Owing a business is incredibly rewarding, but to keep it up and running needs professional expertise if you are an amateur. To know how to build a startup from the scratch, you can take the ‘Entrepreneurship course’ to gain in-depth knowledge about different aspects of the business.

Categories
Business motivation Strategy

How To Improve ROI With COVID-Proof Business Ideas?

How To Improve ROI With COVID-Proof Business Ideas?
How To Improve ROI With COVID-Proof Business Ideas?

ROI or return on investment- every business analyzes its future by identifying past and potential financial returns. ROI is a ratio of your company`s net profit compared to your financial investment in the business.

What is ROI or Return on Investment?

Many people often confuse this term with the profit margin. However, ROI is the financial return that you receive from spending money and not the profit received from the sale of goods and services. It helps the leaders to make informed decisions by kicking the guesswork out of the window.

Why is it Important?

The ability to calculate return on investment is crucial for every business, regardless of the company`s size or industry. A businessman is considered smart if he manages his expenses and monitor ROI regularly. Only businesses that can analyze ROI, survive in the long run.

So how can you improve your business`s ROI? How can you ensure that your business`s ROI is always increasing, no matter what? Watch, which type of business model can guarantee high ROI and regular 6 figure income, here.

Here are three ways that will help any business to receive higher ROI in every season:

  1. Choose a Business Plan with Zero Inventory Management

If you have a small business that stores goods in a warehouse, then managing inventory is an essential part of how you can control your stock. Inventory management is like storing ice. Once you have kept ice inside the warehouse, it will meltdown to the water and will drown your profits under it, if you do not manage your stock smartly.

As the time of the stock increases, its shelf-life, as well as the price, starts to decrease. For instance, electronic devices and gadgets experience a price drop as soon as the new model with upgraded technology is launched. From perishable to non-perishable items, the value of stock starts decreasing if the goods stay in the warehouse for a longer duration.

Hence, it is best to order those goods that are popular and have numerous takers in the market. You can also pick a business plan that does not require you to stock up goods in a warehouse. E.g.- online business courses. Online courses neither require you to spend heavily on warehouse and inventory management nor go out of demand.

  1. Giving Discounts may Decrease Profit

Most often than not, many business owners purchase inventory from the distributors and lend it to the market on credit. This technique only results in loss- loss of inventory and loss of return. Why? The reason is that you purchase the stock after making the payment in advance to the distributor. However, when you gave the stock on a credit basis with receiving the down payment, you will be deprived of the funds.

Hence, you will have to offer your stock or products at a discount that will eventually hit your profit margin. Always choose a business model where once you sell a product, you get your money back. You can become a franchisee of Bada Business to earn profits every week.

  1. Margin

Whether you have a commodity business, retail store, mobile retailer, or have a restaurant business, the profit margin is limited to 10%. However, the margin is not fixed and may hit by external circumstances like an increase in cost, wastage of inventory, expensive credit that can convert profit into a loss.

Thus, if you are an entrepreneur who is looking to set up an independent business, always select a business model that returns high ROI. For instance, a Bada Business Franchise Partner enjoys 20% to 50% of profit margin, without experience undercutting system, with fixed price.

If you are looking for simple and effective ways to improve ROI on your business, you can take our Problem Solving courses that are designed to cater the modern-day entrepreneurs with practical solutions to business challenges.

If you want to become an entrepreneur, but have no business idea? Become our franchisee and earn up to INR 25 Lac per month. For more details, visit: https://www.badabusiness.com/master-franchise