Tag: startup

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Startup

Launch A Successful Startup In These 7 Effective Steps

Launch A Successful Startup In These 7 Effective Steps
Launch A Successful Startup In These 7 Effective Steps

Everyone has ideas! While some of them are worth executing, others are probably not so good. And this difference defines the gap between successful startups and the startups that fall flat. But part of living and working in this world is to learn from your own mistakes and others.

You get the chance to see what differentiates successful companies from failed lot. And if you can observe closely, you can learn from others without making the same blunders yourself. Some entrepreneurs choose to consult a business coach, while others choose to learn from their mistakes.

But before we begin to discuss the factors that are crucial for the success of the startup, let’s discuss what it takes to start a successful startup:

a). A Great Idea- The paramount thing which is crucial to building a startup is having a great idea. Without a great idea, your startup will have a very difficult time growing. Along with that a thoughtful business plan and product are also necessary.

b). Passion- Passion can encourage you to conquer greater heights without feeling tired.  If you are not passionate about the business or the product, it will be very difficult to stick with it when the water is rough.

c). Persistence- Even established organizations face challenges. Hence, it is important to be persistent and never give up when it comes to your dreams.

So here are 7 tips on how to start a startup and succeed at it:

1. Build a Product that Resolves a Problem

Innovative, creative, exciting, and imaginative- your product can have all these factors and yet fail to attract customers if it does not resolve any problem that the customers are facing. The most crucial measure of success is the real need for the market that you are trying to serve. The best companies are the ones that meet the requirements of your customers.

2. Have a Business Plan in Place

Before starting a startup, you will need a solid business plan in place. A well-researched business plan is a very important and strategic tool for entrepreneurs. A good business plan not only helps entrepreneurs to know where they are going but also helps them to focus on what is important. It also helps them to achieve short-term and long-term objectives.

Here are five key steps to writing a successful business plan:

a). Describe your target market.

b). Define your business goals.

c). Explain your product or service

d). Create specific marketing and sales strategies.

e). Note down your financial projections & detail the funding.

f). Summarize your overall strategy.

3. Find the Mentors You Need

Once you have established the foundation of your business, you will need professional guidance and expertise to help you navigate the entrepreneurial labyrinth. Don’t be afraid to ask people to help you. You can also work along with the business motivational coach to gain in-depth knowledge and information about your business.

4. Put the Right Team in Place

The vision for your ultimate goal may be yours, but you will need help from others too to get there. To attain your short-term and long-term goals for your business, you will need to surround yourself with the right people who will understand your vision and fit into the culture and mindset of your company.

5. Develop a Roadmap

If you want to go beyond a plan and want to turn your goals into reality, you will need a roadmap. Laying out the roadmap will help you to avoid any unnecessary diversions and distractions.

6. Establish Your Expertise

Writing and speaking about your particular area of expertise is a great way to get your name out there and establish your bona fides.

7. Build Relationships

The success of the business depends not just on what you do, but also on who you know. The key to developing relationships and growing your network is to keep it two-sided and give as much as you receive from others.

Apply these seven tips when you are planning to start a startup of your own. With persistence and determination, you can achieve your business goals. 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, visit: www.badabusiness.com

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Motivational

5 Top Indian Athletes Who Are Making Their Mark In Entrepreneurship!

5 Top Indian Athletes Who Are Making Their Mark In Entrepreneurship!
5 Top Indian Athletes Who Are Making Their Mark In Entrepreneurship!

Whether it is keeping the Indians on their toes during a match by sending the ball for boundaries or ruffling their opponents with their powerful serves, or making the entire nation cry by lifting the world cup after more than two decades, sports stars have always been close to the hearts of millions of Indians rooting for the game.

But as every player retires after a certain age, they secure their future by investing in various businesses. Some even choose to start their own startup business to keep their income sources open.

Here are five athletes who have had their tryst with entrepreneurship:

1. Yuvraj Singh

Yuvraj Singh has inspired millions of his fans around the globe, not just by hitting centuries but also by defeating the life-threatening disease of cancer. Dynamite at the pitch, Yuvraj is now helping others chase their entrepreneurial dreams through his investment firm -YouWeCan Ventures. His firm aims to help exceptional entrepreneurs to build great brands, companies, and productive teams. His company’s motto says, “We give Startups a Start.”

If you have a business plan, you can get help from the best business coach in India and invest in your startup.

2. Virat Kohli

From an excellent batsman on the field to being known as a fierce captain of India, Virat Kohli is the heart of cricket fans in India. But not just on the field, he is a fantastic investor off-field as well. In May 2015 Virat Kohli launched his chain of gyms and fitness centers called Chisel in association with Franchise India. The firm plans to launch a total of 75 centers in three years, while Virat’s investment in the chain is almost INR 90 crores.

In 2014, Virat launched his first fashion brand Wrogn. He is also a co-owner of the Indian Super League Football club FC Goa.

Kohli has also invested in the hospitality sector and owns Nueva- an elite restaurant located in the gastronomical hub of RK Puram. His restaurant features some great palette pleasers like Ceviche de Camarones, Spicy mole, La Caja de Pinturas, Peruvian piscos, and more.

3. Sachin Tendulkar

The God of Indian cricket- Sachin Tendulkar also seems to be the god on the startup pitch. The master blaster has put multiple investments in budding businesses like Smaaash (sports simulation), Musafir (UAE-based Internet travel company), Kochi Franchise, S Drive and Sach (healthcare and sports fitness products), Universal Sportsbiz (celebrity merchandise), and Mumbai Franchise for the International Tennis Premier League.

4. Kapil Dev

After guiding the Indian cricket team to victory in 1983 for the Cricket World Cup, in 2014, India’s best all-rounder – Kapil Dev also co-founded and invested in SloPho, a social gamified collaboration platform slowing users to win prizes by participating in games, contests, pools, and quizzes.

According to publications, he has also invested in PeopleEasy.com, an online grocery portal. Last year, the cricket legend along with London-based Bay Capital Founder Siddharth Mehta and others invested $3 million in SAMCO Ventures.

5. Saina Nehwal

The queen of badminton in India has not just invested in her sports but also ventures and businesses. She chose her father and financial service provider Edelweiss to manage her funds. Later in November 2016, we saw her batting for women’s care by investing in Paree sanitary pads.

These athletes not only prepare themselves for the field but also for their future. Every player has invested in multiple businesses. If you too want to explore different investment sources, you can take an online business coaching program from our website: www.badabusiness.com

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Motivational

5 Desi Movies Every Entrepreneur Must Watch!

5 Desi Movies Every Entrepreneur Must Watch!
5 Desi Movies Every Entrepreneur Must Watch!

Movies, whether from Bollywood or Hollywood have always been our window to the other world. While some are meant for pure entertainment with perfect comic timing and dialogues, some touch our hearts with their high emotional quotient and heartwarming script. There are some masterpieces too that give you food for thought and showcase human tragedy. Then few more Bollywood movies showcase the triumph of human life and influence us in some way.

So whether you want to become the best business motivational speaker or an artist, the road less taken often has a rough path. And though we already know that being an entrepreneur is not an easy deal, what could be the best medium other than movies to showcase the journey of an entrepreneur in India? So we have handpicked five desi movies that show the passion, tenacity, and undying spirit of its characters that all entrepreneurs can relate to:

1. Pyaasa (Guru Dutt, 1957)

‘Old is gold and this epic movie by the legendary Guru Dutt fits the bill completely. Playing the protagonist of the movie, the actor plays the character of a poet with an undying passion for writing poetry. His poems are quite radical and showcase the ordeal of the destitute. He also pens down the arrogance of the rich after the departure of the British from India.

He is frowned upon by his brothers, who sell away his poems as waste paper. After lots of struggle, he becomes frustrated by the hypocrisy around him and declares himself dead. It is only after this that the publishers embrace his work and he becomes famous.

Takeaway: The story speaks about the never-dying passion of entrepreneurs for their work and how despite the challenges that society and life throw, they keep on going and come out as a winner.

2. Manthan (Shyam Benegal, 1976)

If you are not aware of the truth behind the formation of the ‘Amul Co-operative Society’, you can watch our extremely informative case study here. You can also watch this old classic movie Manthan which revolves around the story of a vet doctor who comes to a village. The doctor aims to open a milk cooperative society for the welfare of the villagers.

He faces lots of resistance from the rich businessmen and the head of the village. The movie showcases the real-life journey of Dr. Verghese Kurien- the father of the White Revolution in India and how the Amul Cooperative Society was formed.

The Takeaway: The helplessness of the protagonist is real and the movie beautifully does justice to capture the hurdles entrepreneurs often face in the beginning.

3. Manzil (Basu Chatterjee, 1979)

Another movie from the deck of old, this film captures the life of a young unemployed man who has ambitions and dreams of starting his startup. He starts a galvanometer business but the company fails due to high competition in the market. He drowns in bad debts and faces lots of challenges in his personal life as well. However, the protagonist mends his ways and eventually emerges as a winner.

The Takeaway: This movie may appear very simple on the surface, but deep down it teaches us to be ambitious and follow our passion. It does not matter from where you are coming, chase your dreams with all your heart, learn from your failures and move on.

4. Swades (Ashutosh Gowariker, 2004)

Behind every startup, there is an entrepreneur who is working on a problem at the grass-root level and this movie revolves around the same. The protagonist, played by Shahrukh Khan is a young scientist working as a project manager at NASA who comes to his village to find his nanny. The village which is full of diversity, colorful and complex helps to draw a parallel contrast between the two different countries which compels the protagonist to go on a quest to generate electricity for his village.

The Takeaway: The movie sends out a million years old messages of ‘Unity in Diversity and clearly states that a country’s strength lies in its people. Along with that, it poses a vital question- what should we do as responsible and intelligent members of society?

5. Guru (Mani Ratnam, 2007)

Guru probably is the most obvious entry into this list. Based loosely on the life and times of Dhirubhai Ambani, Guru shows an ambitious middle-class boy who is full of business ideas and wants to make it big in the business world. He gets married to a rich businessman’s daughter and uses the money he receives in his wedding as a dowry to start a business. The controversial film follows how he uses his skills and ambition to create one of the richest companies in the country.

The Takeaway: Though the protagonist in this movie is portrayed to be cunning, over-ambitious, and manipulative, he also encourages us to believe in our dreams.

The five movies that we have mentioned above will not just be entertaining, but will also offer a reflection of our society and the challenges that businessmen often experience. So watch these movies and enjoy!

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 programs, visit: www.badabusiness.com

Categories
Business motivation

From MP to PM: 5 Interesting Facts about UK’s new PM Rishi Sunak that will Amaze You!

5 Interesting Facts about UK’s new PM Rishi Sunak
5 Interesting Facts about UK’s new PM Rishi Sunak

When India was celebrating Diwali, a new Prime Minister of the United Kingdom was appointed. Yes, we are talking about none other than Rishi Sunak, who has created history by becoming the country’s first leader of colour. 

Rishi Sunak, who was set to become UK’s Prime Minister, was termed victorious on the auspicious day of Diwali. In 2015, Sunak was elected as MP for Richmond in Yorkshire in May. He served as the Parliamentary Under Secretary of State for Local Government between 2018 and 2019, following which he entered the Cabinet as chief secretary to the Treasury. 

In 2020, he became the youngest Chancellor ever of the Exchequer in February. However, due to differences with former PM Boris Johnson, he resigned. He lost elections in the race to replace Johnson as UK’s PM to Liz Truss. However, as luck would favour it, Sunak again threw his hat in the ring on October 23, after Truss’s short tenure.

Here are 5 things you should know about him:

     1.       Rishi Sunak has Indian Roots

Rishi Sunak has often referred to himself as having “Indian roots”, however, he is not completely Indian. Sunak was born in 1980 in Southampton, England. He completed his education at Winchester College, a private boarding school followed by his graduation from the University of Oxford.

His grandparents originated from India before independence. Their birthplace Gujranwala lies in modern-day Pakistan’s Punjab province. Sunak, whose Indian-origin parents had emigrated to the UK from East Africa, was born in Southampton in 1980. He is the son of a pharmacist mother and a doctor father. His family migrated to Britain in 1960 during which many people from Britain’s former colonies moved to the country.  

     2.    He is the youngest PM in more than 200 years

Sunak who is 42 will be the youngest PM in more than 200 years. The only man who was younger than him when he became Prime Minister was William Pitt the Younger, who became the last Prime Minister of Great Britain in 1783 at age 24 and remained in power until 1801 and then became the first Prime Minister of the United Kingdom of Great Britain and Ireland in 1804. 

     3.       The Fastest Journey to Power in the Modern Era

As we have previously mentioned, Rishi Sunak was first elected as the MP of Richmond, Yorkshire in 2015. In 2022, he became the Prime Minister of the United Kingdom. His entire journey took him a little more than seven years. 

David Cameron- former PM of the UK went from MP to PM in just nine years. Pitt the Younger, however, took only 2 years to cover the distance between his position as MP to PM.  

     4.       Rishi Sunak & Akshata Murthy are Richer than King Charles III

Rishi Sunak is married to Akshata Murthy who is the daughter of Narayan Murthy (founder of Tech Giant- Infosys), and together they are wealthier than King Charles III. According to a report in the Guardian, “The combined fortune of Prime Minister Sunak and his wife Akshata Murty is estimated at £730 million, which is double the estimated wealth (£300 million-£350 million) of King Charles III and Camilla, the Queen Consort.”

     5.       Sunak has an Addiction!

One fact about Rishi Sunak that will surely surprise you is that he is a total Coke addict! And by Coke, we mean Coca-Cola. During an interview in March 2021, Sunak confessed to being a big Coca-Cola addict. He still collects Coca-Cola things and also shared that his favorite was “Mexican Coke”. 

Though many Indians are celebrating that Rishi Sunak is an Indian, the matter of fact is that his roots are Indian. The rich culture of India is deeply ingrained in him and he is a proud Hindu as well. His journey is truly inspiring and encourages everyone to follow their dreams. We wish him all the best for his tenure as the Prime Minister of the United Kingdom. 

Learn how you can take your startup to new heights with our business coaching program. Click here to know more about this product: www.badabusiness.com.

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Startup

These 5 Fundamentals Of Business Will Help Your Startup Grow!

These 5 Fundamentals Of Business Will Help Your Startup Grow!
These 5 Fundamentals Of Business Will Help Your Startup Grow!

Doing multiple things at the same time and without having a solid business background, being in charge of a lot of things can feel overwhelming. Understanding how to read a balance sheet and a financial statement is just as vital as it is to understand how to make, launch and market the product or offer A-class customer service.

While many entrepreneurs and small business owners hire a business coach, others try to figure out the market trends on their own.

No matter what the nature of the business is, there are fundamentals that every entrepreneur must be aware of to keep their business thriving. Here are five fundamentals that you must know to grow your business startup:

1. Avoid Rushing

While business expansion is on every entrepreneur`s mind, growth and scalability are the product of consistency, persistence, effort, and hard work. However, doing multiple things in a bid to attain instant results can result in a disaster. If your business is in the early stages then do not try to market your product or service to everyone. Target a small niche of consumers first, and then focus on reaching out to a wider audience. Here is a very informative video that will tell you how you can scale up your business. Watch it here:

2. The Regulatory & Legal Framework

Every country has some laws and every business requires certain financial, economic, and legal frameworks in India. Adhering to all the regulatory and legal requirements is required to smooth the working of your business. Some of the legal aspects that your business must include are business structure (corporation, partnership, and sole proprietorship), business name (copyright issues), tax IDs, and permits & licenses.

Understanding the legalities also means managing your rights and maintaining the right to do business. Also, insurance is crucial to any business as the future is uncertain. Having insurance is essential to growing a business at any stage of development.

3. Cash Flow

Understanding the concept of cash flow projection is a vital step because budgeting is the first step that will take you on a successful entrepreneurial journey.  You must be well acquainted with information like how much money your startup can expect to earn. How much profit will be generated, and how much funds will be required to continue day-to-day operations? Set realistic goals and take a cold, hard, fact-based look at what you can reasonably expect in the future from your business.

Have a basic understanding of financing and fundraising options that include angel investors, venture capital, self-funding, crowdfunding, loans, grants, and more.

4. Forge Collaboration & Networking

Networking is one of the most crucial factors that can help a business to grow immensely. Topping the list, every entrepreneur must focus on building an online and offline network. Building an online network with some of the most important key influencers is a really powerful thing to do. This can lead to people sharing your brand with others.

If you don’t have a large circle, go out and meet new people to build meaningful connections. Create a profile on social media and be socially active with influential people. Follow their blogs, and leave comments on their social network profiles.

Engaging with influential people on social media can bring you to their notice. If you work with a business mentor he can also help you build strong connections through his network.

5. Marketing Strategies

Having deep marketing knowledge is a must-know thing for every entrepreneur. Marketing is essential for the growth and profit of any business.

For instance, you have created an amazing product. It can change the lives of your customers, but your customers are not aware that your product exists in the market. Would it be beneficial for your business or your customer? Not exactly! Hence, you will have to invest a considerable amount of time into marketing.

Also, people do not like to make purchasing decisions impulsively. They need to be persuaded, coaxed, and reassured. That’s what a good marketing strategy does. You will need to understand your customers and their buying behavior to sell your product or services in the market.

Entrepreneurs must keep these fundamentals in their mind that will help them to scale up their startup business. Put these to use and with your determination and perseverance, you will see some excellent results.

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, visit: www.badabusiness.com

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Startup

5 Small Startup Business Ideas To Start In 2023

5 Small Startup Business Ideas To Start In 2023
5 Small Startup Business Ideas To Start In 2023

Starting one’s own business is everyone’s dream. However, most budding entrepreneurs see their dreams in cold water due to lack of funds and sometimes due to a lack of good ideas.

But, if you possess some special skills you can start your own small business with low investment. Today, with a great business idea and help from the best business motivational speaker in India, you can start a small online business with minimum investment. While some profitable small business ideas can be operated from your home, in other cases, you may need to lease small premises.

A good business idea may seem hard to come by, but with some planning and preparation, you can easily launch a profitable small business to supplement your income — or become your full-time boss.

Here are five small online business ideas that can be started even in small villages and rural areas that can be considered to increase job creation:

1. Start Your Blog

Various bloggers are making handsome incomes by writing about their passion or expertise. Try to understand your niche by using your content and you will make more money with your blogging career. According to a report, 73% of the bloggers who earn above INR 8 lac per year focus on their content. Make a content calendar and start building a loyal audience base using various email marketing and marketing automation software.

2. Jewelry Making

If there is one thing after food that never goes out of fashion and demand is beautiful pieces of jewelry. The best example of it is that even during the COVID-19 pandemic when many businesses were shut down, the demand for artificial jewelry pieces stayed high.

There are portals like TradeIndia where people can create an online shop to contact good manufacturers for procuring jewelry and selling it. Also, the first customer of the business can be your friends and family members who can endorse your products in their circle. To grow your online business you can consult with a motivational coach for entrepreneurs.

3. Baking

If you have a thing for a bakery, you can also start your own bakery business. This business does not require a large investment. You only need a minimum investment to procure an oven and buy ingredients for baking. When starting from a small scale, there is no need of doing branding. However, it is essential to focus on the quality and delivering a product, which customers would relish. This business can be started with an investment between INR 15,000 and INR 25,000.

4. Homemade Candles

In the last few years, many people are getting inclined toward aromatherapy and scented candles. Candles are a wonderful way to enhance the interiors of homes and for gifting purposes. You can start this business online with a minimal investment either by manufacturing it at home or procuring it from a third party.

You will require wax, wick, molds, thread, aromatic oils, and more to start your business. Apart from this, you will also need to have some candle-making equipment, which includes a melting pot, pour pot, thermometer, weighing scale, hammer, and an oven to melt the wax. Once your business starts growing, you can also hire a motivational coach for entrepreneurs.

5. Graphic Designing

From designing marketing collaterals, including posters, banners, and logos to creating stunning designs of landing pages, graphic designing offers an ocean of opportunities to those who are passionate about their work. You can pitch your design skills to small business owners or individuals to start your gig. If you have prior knowledge of this field, then getting clients would be helpful. However, learning the basics of graphic design from scratch is pretty easy, with a vast number of online courses.

If you have a great small business idea, you can begin to work on it because they require minimum investment. To ensure that your business runs smoothly, you can also consult with the best business coach in India.

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, you can visit www.badabusiness.com.

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Sales

How To Write A Perfect Sales Copy For Your Product?

How To Write A Perfect Sales Copy For your Product?
How To Write A Perfect Sales Copy For your Product?

Summary: Want to increase sales? Discover how you can generate more leads by choosing your words wisely.

Many entrepreneurs often lose their sleep because their ad copies fail to perform! If you are a copywriter, you probably analyze it too, but even if you are not a copywriter, it is critical to understand the critical elements that make a copy good.

If you don’t want to be at the mercy of your marketing director or ad agency, you must understand the inherent structure of an excellent copy that sells.

Here are 4 tips to craft a perfect sales copy:

1. Craft a Perfect Headline

Headlines are significant. If done correctly, it will trigger a spark in that prospect’s emotional core and that’s when the magic begins that can change doubt into confidence, despair into hope, and fear into courage.

And yet not many people invest much time in thinking about the headlines while writing copies. The headline is essentially the ad to your ad. It is crucial to grab your potential customer’s attention to make them read the entire message. To craft a perfect copy, it has to tap into your target audiences’ core. This tip will require you to invest time, but once it is optimized, it will attract customers to your startup business like a moth to a flame. You can also consult with a business coach who has experience in crafting a sales pitch.

2. State The Promise Clearly!

Every winning ad copy that resonates with the promise you have made to your customers works the best. The first two paragraphs after the headline serve the function to restate the promise of your product or service. However, it also states who is it for, and who it isn’t for.

Once your well-written copy grabs the customer’s attention, he or she begins wondering if it has something for them. It is your lead’s job to clarify what your product or service is and what it will deliver. If the message is not clear, a reader will get confused and a confused mind almost always withdraws and says “NO”. A winning lead should be clear, and concise, and deliver the promise that you have made.

3. Make it Clean With Bullet Points

Mystery, novelty, promise, and vivid imagery are the key ingredients to crafting a perfect headline with bullets. We all are aware of the clarity that bullet points provide us in any presentation, article, or blog. These are concise statements that offer insights about benefits but do not reveal anything. The purpose of bullet points is to arouse curiosity. The bullet points that are excellently crafted have elements of. This invokes an image inside a customer’s mind and makes it easier to make readers take action.

4. Body Copy

Body copy is that part of the sales argument, which is often the least-read part. Most of the readers skim through this portion in an unconscious attempt to figure out how it is beneficial for them to read the entire body of the sales letter. To attract more customers for your startup business, use subheadings and unused bullets to divide the letter into distinct sections. Add some images, sales arguments, promises, and proof and push tactics to craft a unique selling proposition around your startup business.

If done right, a copy can become a frictionless call to action. With these four simple steps, you can craft a perfect sales copy. You can boost your sales easily with the right guidance from a business expert. 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 it, visit: www.badabusiness.com

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Sales Webinar

Discover 5 Super Secrets of Selling that Will Grow Your Business Sales!

Discover 5 Super Secrets of Selling that Will Grow Your Business Sales!
Discover 5 Super Secrets of Selling that Will Grow Your Business Sales!

Summary: Be it a product or a service, sales is all about selling solutions!

Whether you are selling a product or a service- you are selling something that can resolve challenges that thousands of people might be facing currently. Irrespective of the product or service, selling requires interaction with your customers.

With so many entrepreneurs and startups cropping up, there is huge competition in the industry fighting for the customers’ attention. There are many videos on Dr. Vivek Bindra’s YouTube channel that can help you to increase your sales.

Here are five tips that will help you to increase your business sales:

1. A Customer is Human

Yes, some bots and robots have become CEOs in large organizations and are in the news. But the fact is that the customer in any industry is a human. Humans buy from other humans. Human relationships are the first and most important element. While you may work for yourself or a company, it is you who will be the first to experience a sales lead. Hence, always treat customers as humans first before seeing them as a customer and you will be amazed to see how they open up!

2. Sell Benefits, Not Features

Ever watched how Apple launches and advertises its products? They do not boast about the camera quality or the powerful chip. But they explain how you can capture beautiful moments via wonderful pictures and how you can share them with your family and friends at a lightning speed.

The biggest mistake entrepreneurs often make is focusing on their products and services while selling. But humans as we know are much more interested to know how a product will change their lives. How your product will add another dimension to their comfort or how your service can help your customers to resolve their existing issues. Always focus on how your product will benefit your customer.

3. Ask the Right Question

It is essential to ask the right question. You may have a great product or a service, but why will your customer buy it from you? Hence, understanding what a customer wants after building a relationship is significant to ensure that your products and services are relevant to them.

4. Know Your Product & Customer

If you are selling a wellness product, your target audience should be clearly defined. You can’t share your product with a person who is not health conscious. Hence, define your audience based on their demographics. They are the ones who will buy your product.

But before you can understand your customer, product knowledge is the key. If you are selling a software program, you must know what it is solving. How will it help your customers to perform their tasks more efficiently? Do you know your products and toolsets well enough to match them to the solution the customer needs? If you want customers to buy your product, you need to believe in it.

5. Build Human Connections

Spending huge money on print advertising or digital advertising is effective for established brands. However, it is least effective when it comes to new entrepreneurs building their startup businesses. There is no alternative or shortcut to the personal approach. Get one-on-one with your customer. There are many ways to do it- send those personalized emails, phone calls, or messages. You can choose anything to which your customer responds the most.

Businesses worldwide focus on increasing their sales numbers because selling is an integral part of the business. It is essential for the sustainability of the business as well. If you want to learn the ‘Super Secrets of Sale’ you must attend the FREE IBC WEBINAR by Dr. Vivek Bindra on October 9, 2022, from 12:00 to 1:00 PM on Bada Business Community App!

To know more, Register Now: https://www.badabusiness.com/webinar/ibc?ref_code=9webinardmt

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Startup

4 Key Reasons Why Branding Is Super-Important For Startups

4 Key Reasons Why Branding Is Super-Important For Startups
4 Key Reasons Why Branding Is Super-Important For Startups

Branding plays a crucial role in the success of every business. Your brand becomes a part of the customer’s everyday life. If a customer believes that your brand is the best in the market, then a customer will buy it irrespective of its price. This is the impact of having a solid brand image. When it comes to startups, it is vital for the development and growth of an organization.

But many entrepreneurs fail to recognize its importance in the initial stage of the business. They make the mistake of obsessing over their products and turn a blind eye to every aspect of the branding. This can lead to a series of disastrous consequences for the product as well as the company in the long run. Due to negligence, the brand might become unnoticed and irrelevant.

According to an analysis conducted by the Marketing Accountability Standards Board (MASB), brands contribute on an average of 19.5% and if the impact is measured based on firm cash flow, profits, and firm value, the impact could be contributed to over 50% of the enterprise value.

Another report by the Marketing Science Institute (MSI) that included around 220 consumer products found that a superior brand preference or reputation commanded price premiums of 26% on average, even when brand quality is the same.

1. Your Brand Image is like a Living Entity!

If your brand can disrupt the market and generate excitement by showcasing the life, you can get a loyal clientele. Your brand grows and matures over the years and builds its persona just like a living entity and provides a solid competitive advantage.

In this age of digitalization, it is important to have a unique brand strategy that will engage the audience across multiple mediums. Therefore, it is essential for every company to carefully select and invest when it comes to building a brand that speaks volumes about the company’s unique business strategies and core values. You can also hire a business coach who can help you to build a powerful brand image in the market.

2. Branding has a Lot of Impact on Sales

If your brand connects straight away with your target customers, it will result in an excellent customer experience. And according to a report published in Forbes, ‘73% of companies with above-average customer experience perform better financially and also get higher revenue’.

Another report suggests that around 17% of consumers are willing to pay more to purchase from a brand that has a great reputation and market value. The major reason why a customer will choose your brand instead of your competitor will largely depend on how the consumers ‘feel’ about your company.

And why is this factor important for a startup? Startups tend to have major competitors who have a larger team, better infrastructure, brand reputation, and marketing knowledge. A good brand image will help you to attract more customers and your product will finish on top of your competitors.

3. Helps to Raise Awareness About Your Uniqueness

Startups represent innovation and a distinct approach toward the same product that is already available in the market. It’s their uniqueness that connects them super strongly with their customers. However, too many companies want to represent their brand under a perfect and idealized spotlight. This results in a brand image that lacks the character, texture, and trust of a consumer.

Another blunder that most startups do is copying other businesses or internet trends and images. Creating a fake image of their brand that does not represent them would simply mean wasting the most valuable emotional factor due to which a startup ends up eroding its customer base.

4. Effective in Digital Marketing!

With technological advancements, the internet has slowly taken over. Today, with the advent of affordable smartphones, the branding of products online is no longer a luxury. It has become a necessity for startups where they can sell their products to a wider audience.

With cost-effective internet that is available to most people, a business must use this opportunity. Despite the changing times and mediums of advertising, branding is still an integral part of advertising and the business world. Hence, listen to what stakeholders and customers have to say about your brand, and use their feedback to make improvements. This will also build a better brand image.

Learn how you can take your startup to new heights with our business coaching program. Click here to know more about this product: www.badabusiness.com

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Finance Startup

5 Common Mistakes Entrepreneurs Should Avoid When Raising Funds

5 Common Mistakes Entrepreneurs Should Avoid When Raising Funds
5 Common Mistakes Entrepreneurs Should Avoid When Raising Funds

Summary: A startup`s fundraising efforts depend on its ability to make itself and its business ideas appealing.  Here are five common mistakes every entrepreneur must avoid.

According to a report by IBM Institute for Business Value & Oxford Economics, over 90% of Indian startups fail miserably within 5 years of inception.

Starting a business is a pricey process. From hosting a website to hiring the right people, everything can quickly add up to the cost of the company. So unless you are independently wealthy or able to monetize right away, you will need large funds to foot the bills.

However, it does not mean that you should start rushing to people and start asking them for money to raise funds for your startup business. Before you think about raising funds, stop and consider the best way to raise money sustainably for your business. You can also hire a business coach to help you raise funds.

To ensure that your startup runs smoothly, we have listed out a list of fundraising mistakes that every entrepreneur must avoid:

1. Raising Capital too Early

When you have invested your own money in your business, you can stop the project anytime. But once you borrow money from investors, you will feel intensified pressure to make your business a huge success. You will have to give away a lot of equity in your company if you go this route. Hence, try to bootstrap your business and try to use existing resources to avoid the extra pressure.

2. Not Seeking Professional Advice

Entrepreneurs are often independent and self-sufficient. Hence, they often try to overcome any obstacle on their come that comes their way. While this conquering spirit is part of what makes entrepreneurs great, it can also be a fault. When raising funds for your startup, it’s critically important to seek the advice of professionals to better understand your funding needs and requirements. Consulting a business coach with real valuation experience can help you save your time and money on the wrong decisions down the road.

3. Not Raising Enough Funds

Some entrepreneurs ask for less funding than they require. It is the biggest fundraising mistake that can lead to the shutdown of the startup. Always ask for the amount by keeping your financial requirement as realistic as possible. Don`t worry about scaring investors by asking for the amount of money you will require for your business. To know step by step process of fund raising, watch here:

4. Lack of Clear Objectives

Having a clear goal in mind is essential to raise capital investment. Figuring out how much money you need to reach your next milestone is essential. From operational costs to essential professional services, determine how much capital you need. Not having a clear idea is another mistake that every entrepreneur must avoid.

5. Giving up too Much of the Company

One of the worst fundraising mistakes that entrepreneurs can make is giving up too much ownership of the company. While a deal that includes a good portion of your company might seem appealing, you could end up paying a much higher cost down the road.

Try to keep ownership within the company. Find out ways to raise or access funds which are more feasible.

Also, don’t forget to build and create relationships as you may come across people who can help you with investment. If you don’t know where to begin, start by making a list of businesses that intrigue you. You can use tools such as AngelList and Crunchbase to get a sense of the investors behind each project. You can also hire a business coach who can help you with networking.

These mistakes might appear small, however, if you want to successfully run your business, avoid falling into the trap of repeating these costly mistakes. Want to know the fundamental rules of fundraising?

Take our ‘Problem Solving Courses’ and gain in-depth knowledge about raising funds. To know more, visit: https://www.badabusiness.com/psc