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Business motivation

3 Amazing Digital Work-from-home Jobs for Solopreneurs

solopreneur home based work

The digital revolution is sweeping the world. In a country where internet connections have breached a significant milestone of 75 crores as of August 31, 2020, the medium gives plenty of opportunities to sell your skills and work from home.

As per the latest information by the Telecom Regulatory Authority of India (TRAI), there were 749 million internet connections- narrowband (50.8 million), and broadband (698.2 million) together.

So while businesses are using digital mediums to thrive like never before, the internet has opened a world of opportunities for a new breed of digital solopreneurs.

If you too are looking to give your career wings and earn money, check out 3 work from home jobs:

Creative Graphic Designer

Pictures are worth a thousand words and if they are creative, they can captivate the customers for a long time. If you have a knack for creating appealing designs with the help of using designing software like Photoshop, Illustration, and Coral Draw, you can become a Graphic Designer.

You can do some freelancing projects for magazines and brochures. Create a portfolio to stand out and start your work from home job.

Stock Investing

Stock Investing is not a hit & trial business. It requires deep understanding and in-depth knowledge of products, business models, markets, and portfolio of companies before making an investment decision. Moreover, you can work from home easily, without having to make a huge investment in this business.

Start with a small amount and you can gradually scale up your investments.

Photography

Love capturing life in frames? If you find yourself nodding, then freelance photography is the right job for you. Agencies and print publications are always looking for new budding professionals. So, if you have an eye for detail and the perfection to tell stories through pictures, you can become a freelance photographer.

Success is not a destination, it is a journey that never stops at one place. So, if you are determined to follow your passion and turn it into a full-time work-from-home business, the above-mentioned ideas can help you.

If you love what you do, then you can excel in anything. You can always enhance your skills and find an opportunity in various sectors to work as a freelancer.

If you want to have your own start-up business, you can achieve your goal easily with the experience of the 70 most successful billionaire businessmen who know about every sector like the back of their hands.

Learn their strategies in Hindi and grow your business by implementing them in your practical life. Discover their Secret Mantra to make any business successful through interactive videos right on your phone by clicking here: https://www.badabusiness.com/psc?ref_code=ArticlesLeads

You can also download the Bada Business app available on Playstore & Apple Store. For more information visit https://www.badabusiness.com/?ref_code=ArticlesLeads

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Finance

5 Tips for Young Entrepreneurs for Efficient Management of Funds

Tips for managing finance| Representational Image (Photo Credits: Pixabay)
Finance

Finance is the life line of any business. To start, sustain and succeed any organisation proper management of funds is important. For start-ups to establish themselves in the market and survive the stiff competitive environment, regular and steady stream of funds is a pre-requisite. The businesses need money to enter the market, undertake day to day operational activities, production, expand its activities, research and development activities. Several start-ups fail during the initial years of its establishment owing to the shortage of funds or irregularity of cash flows. 3 profit-making small businesses you can start under Rs 20,000.

Proper management of funds is important for long term survival of the business. Overfunding and underfunding are both harmful of the working on the enterprise. Lack of funds leads to interruption of business activities that leads to huge losses to the firm, while the excessive of funds leads to opportunity cost. So proper management of funds is crucial for success of the business. Here are few tips Young Entrepreneurs can follow to manage their finances –

Separate Your Personal and Professional Finances

The first and most important step of managing the funds is to keep the personal and professional money separate. Following the separate entity accounting principle, the entrepreneur should maintain separate accounts for the firm in its name and should not use funds received for the start-up for her personal expenditure. This will be helpful while calculating taxes and filing return as well.

Set-Up an Emergency Fund

The business environment is full of risks and uncertainties. There are continuous macro and micro environment threats that a start-up has to face. In order to cope up with the dynamic and ever changing ecosystem, an entrepreneur should make sure to establish an emergency fund or a reserve to meet such unexpected changes. Even if the business is earning huge profits, it is always advisable to keep aside some portion of money for contingencies.

Look for Diversified Sources of Funding

Though it is also easier to manage the equity funds, but the entrepreneur should not over look debt funding as well. Borrowed funds force the owner to make informed decision and wise investment choices. The capital structure of the enterprise should be a perfect mix of both owned and borrowed capital. Various capital structure theories have proved that a leveraged capital structure leads to higher valuation of the firm. 3 Futuristic Business Ideas for 2021 and Beyond!

Monitor the Expense

Another crucial aspect of managing the funds is to keep a tab on the expenditure. Though a firm has to undertake several expenditure in the initial stages of its life, an entrepreneur needs to make sure that no unnecessary expenditure is incurred. The focus should be on cost cutting and wastage reduction. Follow the principle of money saved is money earned.

Seek Professional Help

Not everyone understands the complexities of managing the finances. There are several financial analyst and advisors who will be able to provide a better guidance on the matters related to money and investment. They also help in ensuring regular and interrupted cash flows. An entrepreneur should not hesitate in seeking external professional help during the initial years of the business.

Finance is important to meet various capital requirements of the business at its different stages. Hence, an entrepreneur should follow ensure proper and efficient management of the funds to long term survival in the business environment.

 

 

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Business motivation

3 profit-making small businesses you can start under Rs 20,000

business idea under 20000
Business Ideas

The global pandemic of COVID-19 has disrupted people`s lives worldwide. Businesses have shut-down and millions of people have lost their jobs. The industries are doomed and economies are trying to get back on their feet, slowly yet steadily. Starting a new business during this time may sound weird to many.

But when you want to succeed as badly as you want to breathe, only then you’ll be successful! Companies like IBM, General Motors, HP, and Disney, and many others bloomed post-Wall Street crash of 1929, followed by the Great Depression. Also in 2020, there are many Indian start-ups too like Pine Labs, the First Cry, Nykaa, and many others that have turned 2020 into their favor.

During the global pandemic, most of the people are working from home. Hence, there are plenty of business ideas with low investment and high profit that can be started in these challenging times.
These businesses do not require large capital and huge tech-investment. If you have got the skills and determined to start-up your business under 20000 here is a list of ideas you can use:

Home Bakery

Bakers make the world smell better! Well, not only does baking make the world smell better, but also enhances the taste as well. The bakery products industry is expected to grow at a CAGR of 2.5% between 2021 and 2026 to reach a value of almost USD 574.05 billion by 2026, according to data provided by Expert Market Research.
(Source- www.shorturl.at/fjlqH)

If you are passionate about baking and know how to blend the right flavours with the right ingredients, setting up a home-bakery would be an excellent business idea under 20K. You can set-up a bakery with a minimum investment of Rs 15k- 20k. Make yummy-looking pastries, chocolates, cupcakes, and more and post the pictures on social media.

Handicrafts

Another business that you can start under 20,000 is handicrafts. From home décor items, glass handicrafts, wall hangings, vases, and other pottery items, you can start a handicraft investment with as low as 20k. You can build your customer base through social media platforms, word-of-mouth, and by setting up an online store.

Organic Soaps

Asoaps is a part of daily hygiene, therefore it is a product that is used by millions and remains in high demand. If you want to start a business, venturing into this segment may prove profitable. This small-scale business can be started with a minimum investment of Rs 10,000-15,000. You can use this fund to source the soaps from vendors to resale them under your brand name. You must have all the necessary certifications and registrations that are required to sell consumer goods.
Start your New Year 2021 on a good note with these business ideas with low investment and high profit. You can kick-start your business quickly with our business training programs. Learn the business fundamentals from the industry experts in just 15 minutes. Access everything you need right on your phone with step-by-step instructions. Find solutions from high-quality content for your business problems anytime, anywhere with https://www.badabusiness.com/life-time-membership?ref_code=ArticlesLeads
If you are waiting for the right time to come, it has come now, and it is now! Click here: https://www.badabusiness.com/?ref_code=ArticlesLeads

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Business motivation

3 Futuristic Business Ideas for 2021 and Beyond!

future business ideas

It’s not important to move first, It`s important to move Fast! Every year thousands of businesses are initiated, but only a few of them survive due to a lack of a futuristic approach.

A futuristic vision that is ahead of its time, efficient management, and sufficient capital are essential ingredients for the success of any business in the long run. Most of the businesses get outdated and eventually they get shut down.

However, the difficulties of life are not dead ends; they are just sweet bends! Developing a futuristic vision is not difficult. Keep tabs on the market trends, industries as well as fast-growing start-ups to understand the scope of these trends in the future.

We have come out with a list of future business ideas that have a bright future for 2021 and beyond:

Outsourcing Business

According to a report by the World Economic Forum (WEF), ‘the working environment will undergo a major transition in the future that will make large companies outsourcing their business.’ A report by Forbes revealed that 50% population of developed countries like Australia, America, and Canada that are working independently will outsource their business projects. The major reason behind this step is to make good profits at a cheap cost.

Freelancing and virtual services will be in great demand in the coming years, especially in countries like India & China. Hence, it is one of the best future business ideas for 2021.

Internet of Things (IoT) Industry

The Internet of Things or IoT refers to a system of interrelated objects, interconnected through the internet, and communicate over wireless networks. Today, from a light bulb to an air-conditioner and TV, everything is connected via the internet and can be controlled remotely.

A Mckinsey report states, ‘if policymakers and businesses get it right, this industry could generate up to $11.1 trillion annually in economic value by 2025.’This is an excellent future business idea for 2021 in India that holds a promising future for the coming years.

3-D Printing

From building houses to human organs, 3D printing has brought a digital revolution. Initially, the printers were expensive and not cost-effective from a business`s perspective. But today, the printers have become affordable and come with innovative features and specifications. This is one trend that is set to pick-up, which makes it one of the best future business ideas in 2021.

The above-mentioned business ideas have a lot of growth potential for the future. But if you have a unique idea of your own, you can go ahead with that too. To ensure that you start your business in the right direction, research the market and your consumer behavior.

When you want to succeed as badly as you want to breathe, only then you’ll Be Successful! No matter what your goal is, anything is possible with determination, hard work, and Bada Business- where you can find all the key fundamentals of business explained in just 15 minutes.

Learn business techniques at your own pace from the industry experts in easy-to-understand language.  Access everything you need right on your phone with step-by-step instructions in Hindi. Find solutions from high-quality content for your business problems anytime, anywhere with https://www.badabusiness.com/?ref_code=ArticlesLeads

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Business motivation

Being a Solopreneur: 5 Business Tools to Grow your Business

tools to grow your business

India has shown a great appetite for innovative ideas, small businesses, data, technology, and the internet. According to the Economic Survey for 2019-2020 that refers to the data from the World Bank, ‘the number of new firms in the formal sector has seen growth by a significant 12.2% from 2014 to 2018.’

“Around 70,000 new firms are created in 2014, the number has increased to 1, 24,000 new firms in 2018, which is around 80 percent growth,” the survey read.

So how can you grow your business in such a competitive environment, if you are a Solopreneur?

Becoming your boss is exciting, yet scary! You get to call your shots, make your own decisions, and work at your convenience. However, wearing multiple tasks at the same time can be a bit overwhelming.

But, no matter how overwhelming it may sound, with the right kind of tools, you can grow your business significantly. Technology is here to build your business and run it smoothly even if it means running it by yourself.

With the right strategy & tech- tools for business growth in your arsenal, you can manage your business easily. Here is a list:

  1. Manage your Time Efficiently

Having a game plan or your to-do list ready can do wonders for your business. Begin your day with realistic and achievable day-to-day goals. You can keep all your daily tasks scheduled in advance with the help of Google Calendar. To keep your to-do list updated, use apps like Evernote and Todoist. These business tools can help you manage your tasks for the day.

  1. Automate to Save Time

Time is money! If you want to save some, you will have to come up with smart marketing & growth-strategies to expand your business operations. So as much as you would love to do everything on your own, you can`t be everywhere at once.

E-mail marketing is essential for a Solopreneur, especially when the business is at the initial stages. However, one way in which you can attain all your objectives is to make use of automation. Automations make sending welcome e-mails, product recommendations, abandoned cart reminders, and even wishing your customers “Happy Birthday” less time-consuming.

  1. Know your Customer

It is always a wise thing to keep tabs on the playing field and your competition. Start with consumer behavior and competitor analysis to see where you stand. This is an excellent growth-strategy that will unfold the hidden gaps as well as the opportunities for you.

  1. Grow a Network

In today`s world where networking can work like a charm, do not shy away from growing your network. Start building your network by attending business events and meeting others from the same industry.

You can also grow your customer base by keeping a database of your customers. Provide them with a personalized experience to attract more customers via word-of-mouth.

  1. Go Online!

Design a business website and build its social presence by using digital marketing techniques and social media platforms. By using social media platforms, you can increase the reach of your brand locally and globally as well.

While you may not have a staff being a Solopreneur, you can still run your business like a pro! However, it could be a little difficult. Without a team to delegate tasks or an excellent business strategy, how can you make sure you’ve got everything covered?

With Bada Business you can find answers to all your queries with our Problem Solving Courses specially designed for Solopreneurs. Our courses will help you with many aspects of your business with the minimum investment of time and money, leaving you free to focus on the larger picture.

Click here: https://www.badabusiness.com/psc?ref_code=ArticlesLeads  to know more about our Problem Solving Courses.

For more details, visit https://www.badabusiness.com/?ref_code=ArticlesLeads

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Business motivation

4 New Year Resolutions for Solopreneurs to Succeed in 2021

new year resolution for solopreneur

Small businesses need to grow and evolve constantly. Though 2020 was extremely challenging for solopreneurs, the New Year 2021 is the perfect time to make business resolutions. Consider these new resolutions as goals to accomplish that will help you revive your business.
Setting up business resolutions gives Solopreneurs a chance to evaluate where they are lacking and how they can improve in the coming year. Here are 4 New Year resolutions for Solopreneurs that will prove beneficial for their business in the long run:

 

Upskill Yourself!

With constant technological development in the world, it is essential to keep yourself updated and upgraded with the market. Being a Solopreneur can be difficult at times due to lack-of-staff and professional expertise related to a particular field. New Year can be a perfect time to learn something new that will prove helpful in taking your business next level. Go for an online business training course and learn something valuable!

Improve Customer Service

Providing outstanding customer assistance is essential for every successful business. Most of the customers have come to expect 24×7 customer service in recent years. While you may be providing excellent customer service, it is essential to work on ways to improve. This will increase customer satisfaction and will bring in more business.

Boost your Marketing Efforts

With Digital Marketing taking the wheel, the marketing trends have changed, completely. If you do not keep up with the changing trends and change your marketing strategy accordingly, you won`t be able to capture the attention of your customers. Learn the new social media strategy to build your online presence and analyze what works for your business and what does not.

Experience over Product

A customer is not looking for a new product, but an exceptional story related to your product that they can share with people. Always weave a story around your product that will make a connection with your customer. A unique product experience will help you generate loyal customers that will keep coming back for more.

Try to interact with your customers by responding to their queries on your page. Include personal notes and leave comments on their posts to create a personal relationship with your existing and potential customers.

Being a Solopreneur can be hard in the absence of a personalized business and growth strategy. However, with Bada Business, you can get all your problems and confusion resolved with fund-raising, Digital Marketing, Time Management, Passive Income, Business Automation, and other online problems solving courses.

For more information related to our courses, click https://www.badabusiness.com/psc?ref_code=ArticlesLeads

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Motivational

Unicorn 2020: This online beauty & lifestyle retailer start-up entered the $1 Billion Club in 2020

unicorn startup

The year 2020 not only be remembered for the chaos that it has created. For some start-ups, this year also means massive funding from investors across the globe. It will be memorable for them as they enter the unicorn club.

India has seen a record number of start-ups valued at $1 billion this year, and Mumbai-based online beauty & lifestyle retailer is one of them. Founded by Falguni Nayar, a banker-turned-businesswoman, Nykaa was launched in 2012.

A graduate of the Indian Institute of Management, Ahmedabad, Nayar was born and raised in Mumbai. Her father ran a small bearings company, assisted by her mother and the conversations revolved around investments, stock market and trading.

For 18 years, she worked with Kotak Mahindra Capital Co. Nayar, who was working as the managing director and head of its institutional equities business left in 2012.

“Once I turned 50, I thought I would become complacent,” she said. Initially, it was hard to quit the job at Kotak, “where everything was going right”, but with the self-imposed deadline of 50 loomings, Nayar did just that.

Before the Covid-19 pandemic came unannounced, Nykaa claimed profitability for the fiscal FY19 last year in December. The company also took the initiative to deliver the essentials to over 14,000 pin codes across the country. In May 2020, after raising funding of Rs 66.64 crore from its existing investor Steadview Capital, it attained its unicorn status at a valuation of $1.2 billion.

Started as a multi-brand online beauty retailer, today Nykaa has more than 46 stores across the country and has extended its online presence through a mobile app. The company has stocked up more than 1500 genuine brands and also provides free shipping.

Nykaa has launched its NykaaDesignStudio where subscribers can share their ideas and interact with each other. With its growing popularity, today it competes with online marketplaces like Myntra, Purplle, Flipkart, and Amazon. The platform follows an inventory-led model and has its private label in the cosmetics and personal care segment.

Not only women, but Nykaa has also launched NykaaMan,an e-commerce platform for personal grooming products for men. It has also acquired 20Dresses.com for an undisclosed amount in a move to further growth.

We know what you are thinking! The idea of managing the 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 courses like Everything About Entrepreneurship (EAE), Problem Solving Courses (PSC) & Lifetime Membership (LTM). For more details, click https://www.badabusiness.com/?ref_code=ArticlesLeads

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Startup

Startups in India Bagged $9.3Bn Investments in 2020 Despite COVID-19 Challenges: Report

Startup
Startup (Photo Credits: Pixabay)

Amid the COVID-19 pandemic in India, the startups have been hit hard but have managed to emerge successful in attracting investments this year. According to data from consultancy firm Tracxn, Indian startups received investments to the tune of $9.3 billion in 2020 despite the coronavirus challenges. The report reveals that fortunes for the Indian startups turned significantly in the second half of the year. The study reveals that startups raised just $4.2 billion in the first half of the year from about 461 deals while the year saw 11 Indian startups including RazorPay, Glance and Unacademy becoming a unicorn.

According to a report by IANS, the figure is much lower than the record $14.5 billion raised by Indian startups last year as the number of deals this year reached 1,088 from 1,185 last year, TechCrunch reported on Monday. Reports inform that there were 20 funding rounds with dealsize $100 million or larger in 2020 compared to 26 in 2019. Similarly, rounds with dealsize $50 million to $100 million fell to 13 in 2020 from 27 last year. Moreover, the figures exclude the funds rasied by Jio Platforms, which alone bagged over $20 billion investments this year.

The Tracxn report further adds that global technology giants like Google, Microsoft and Facebook wrote checks for Indian startups, while Chinese giants such as Alibaba and Tencent made fewer investments amid border tensions with India.

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Finance

Mandatory 1% Cash Payment of GST Liability will Reduce Fake Invoicing & Tax Evasion

good and service tax
GST (Photo Credits: Wikimedia Commons)

To curb the menace of fake invoicing, the Central Board of Indirect Taxes and Customs has amended the GST rule. According to the new GST amendment, the taxpayers now will be required to pay 1% of GST liability in cash with effect from January 1, 2021.

This rule applies to registered taxpayers whose taxable income, other than exempt supply and export is more than Rs 50 lakh, monthly or the annual turnover is more than 6 crore. The rule, however, is not applicable in the cases where the registered person has deposited income tax more than Rs 1 Lakh in each of the last two years.

 

Also, the registered users who have received a fund of more than Rs 1 Lakh in the preceding FY on account of the export or inverted tax structure, are out of the purview of this rule. If the registered person belongs to a government body, PSU, from a local authority or any statutory body the rule will not apply to him/her. Small businesses including MSMEs and composition dealers are also exempted from the new rule.

 

Registered users who have paid output tax through cash over 1% of the total output tax liability, will be exempted from paying 1% of GST liability in cash. The mandatory requirement of 1% cash payment of GST liability will be applied to about 45,000 taxpayers, which only constitutes 0.37% of the total businesses registered in the Goods & Services Tax System.

 

The provision is meant to bring fraudsters or suspicious dealers who use a lot of fake credit to evade tax and make no cash payment under control. It would neither affect any genuine business dealer nor it will affect ‘ease of doing business’ in any manner. The new rule also restricts the use of Input Tax Credit for discharging GST liability to 99 percent.

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Startup

4 Simple Business Tips That Will Help You Stand Out From Your Rivals in the Competitive Market

Businesses (Photo Credits: Pexels)

For any business to flourish, it takes a great deal of understanding of the market, your product and its need in the market and your target audience. Communication certainly plays a very important part in growing any business, be it online of offline. Few things that will help you stand out from the rest is, know what your customer wants and try and satisfy their demands, timely communication with them and not compromising on follow-ups. You have to understand that for every success you have in growing your market share, other businesses will inevitably lose ground, and you will surely have rivals in the market.

The key factor is that you should establish your business in such a manner that you are not affected by any new entrant in the market. Here are four easy business tips to gain a competitive advantage over your rivals. You can use these tips to insulate yourself from the threat of new businesses in the market.

Provide Solution, Don’t Just Sell Products

Unless you are a known brand, people don’t really search for you as a ‘brand name’. People are just looking out for things that can help them solve a problem or find a particular type of product. If you want to make a difference, you should convince the customers by explaining them in simple terms of how or why your product can help them in solving their problem.

Take Friendly Customer-Facing Staff On Board

This is an important point that every entrepreneur should keep in mind. People tend to buy a product also because the sales person who’s attending to them is just up to the mark, with impeccable skills and behaviour.  Friendly, outgoing and cheerful customer-facing staff will always attract more sales and more people, thus helping you grow your business.

Watch: Low Investment | Business Idea | Dr Vivek Bindra

Own Your Niche

Understand your expertise and go ahead with it. Speciality will really bring you genuine customers. People usually attribute ‘specialists’ with higher quality products that the others who act like ‘Jack of All Trades’ but are a master of none. Your speciality should be kept exclusive and you should try perfecting a single product or service. It should certainly be something that you excel in and have a thorough knowledge about it.

Be Humble And Down To Earth

Always be open to leaning news things and don’t ever get too satisfied with your business. There is always scope for improvisation! Even if your business does wonders and flourishes in no time, don’t get carried away by the success. Always keep in mind that popularity is a double-edged sword! Remember the lessons you’ve leant and heard about the downfall of countless hitherto thriving brands. Market leaders tend to get lazy and complacent when they realise their business is going good.