Category: Business motivation

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Business motivation

How to Write the Winning Business Proposal in 5 Steps

business proposal

Starting up a business is not an easy task to do. It may sound exciting, but the journey to change an idea into reality requires discipline, clear goal settings, and a winning business proposal!

A business plan is like a road map that guides you through your journey and helps you reach your ultimate goal. Just like it is difficult to travel without a road map, it is impossible to start a business without a proposal.

What is a business proposal?

Many people believe that a business proposal and a business plan are similar. However, they couldn`t be more wrong.

The primary purpose of a business proposal is to persuade a company or an organization to do business with you. While a business plan is all about your company`s strategies and growth plans.

It also outlines your value proposition and bridges the gap between you and your potential clients. A well-written business proposal can help entrepreneurs to build up their customer base.

It is a formal document that is created by a company and is provided to the prospect of securing a business agreement. A brilliantly written business proposal sells either your product or service, rather than your business itself.

Types of Business Proposals

A business proposal can be of two types: unsolicited and solicited.

Solicited Business Proposal: The business proposal when requested by a customer or a client is called a solicited business proposal.

Unsolicited Business Proposal: As the name defines, the unsolicited business proposal is usually meant to approach a client or a customer, even if they do not ask for it.

Key Things to keep in mind while writing a business proposal

A common mistake that small business owners often make while writing a business proposal is that they do not cover the key questions in their proposal. Every small business owner must cover these questions in their proposal to customize it according to their potential clients.

The person you might be meeting with your business proposal might not be the final decision-maker. It is always best to ask the prospect about the entire decision-making process or approval process.

Do your homework carefully. Research your competition to find their pain points or gaps. Ask your prospect about their past experiences related to the product or services that you are offering them.

Keep the budget in mind and find out their target price that will help you avoid wasting time on projects that have no chance for much profit.

Calculate the costs of your labor or materials, you will incur in case your proposal might get accepted. Make sure that you have got all the revenue numbers in place.

5 Steps to Draft a Persuading Business Proposal

Here are five sections that every business proposal must address:

  1. Introduction- Beginning a business proposal with a clear, crisp, and informative introduction can get your brownie points. Highlight what makes your business and product unique, your credentials, achievements, and awards.
  2. Executive Summary– In this section, you can explain why you are the perfect fit for the job, and give the reader the crucial message for the proposal.
  3. Table of Contents- This is useful for longer proposals that consist of details. List each section with its corresponding page number to make it easier for the reader. However, try to keep your business proposal short.
  4. Body- Here you can explain the information on scheduling, pricing, and logistics
  5. Conclusion- Ending your proposal with a call-to-action encourages your potential client to contact or visit you. Hence, end your business proposal with a powerful Call-to-Action.

Once your business proposal is complete, send it to your main point-of-contact and primary decision-maker. If you are unsure of who will receive the proposal, do not hesitate to ask.

You can send your business proposal via an email attachment. Plan a follow-up to see if they have any query.

If you regularly send business proposals, but not getting any desired results, you must join our Everything about Entrepreneurship course. With this course, you can learn the mantra that makes every entrepreneur successful.

To know more click here: https://www.badabusiness.com/?ref_code=ArticlesLeads

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Business motivation

How Investors can contribute with more than Investing Just Money into the Startups

Investors
ईज ऑफ डूइंग बिजनेस

Investment is the blood of any startup that is vital for its smooth functioning. However, investing in startups is a lot more than just buying stocks.

A report by IBM (Institute for Business Value and Oxford Economics) stated that around 90 percent of the Indian startups fail within the first 5 years of their inception due to the lack of innovation.

Truth to be told, many entrepreneurs themselves believe that post the initial ideation, the startups fail to scale because they lack funds, strategy, or strong leadership. More often than not founders or the owners of small businesses place too much focus on raising money, rather than emphasizing the value that each investor can bring to the table.

So how can an investor add value to the startups beyond making investments into the company?

  1. Financial Aid & Funding

Needless to say that backing startups with finances are often a huge advantage if you are an investor. By providing capital and financial aid, an investor adds immense value to a startup. But, it would be beneficial for the startup if an investor brings more than just money to the table.

As the initial years are crucial for small businesses, investors can help MSMEs and SMEs with their deep industry insights and mentorship. They can help young entrepreneurs in the early stage of the business and guide them to success.

  1. Strategic Planning & Decision Making

Customer satisfaction, cost-effectiveness, and relevance of the product or service in the target market are often lost in the struggle to scale. A seasoned investor who has gained expertise with years of experience can lay a crucial role in decision making.

By making available strategic planning, investors can also help in achieving market penetration and profitable operating ratios.

  1. Network Creation

For small businesses, it is essential to gain access to the right people at the right time in the early stages. An established investor can help in the creation of valuable connectivity to the potential customer or the right talent pool.

Young entrepreneurs who hail from tier II or III cities struggle in finding the right investors and right talents due to the limited access. Hence, investors can help small business owners by being the mediator in business talks. They can also help entrepreneurs in grooming and incubating new profitable ventures to help them grow.

  1. Visibility & Credibility

To add and increase the overall value to an innovative startup venture media attention and access to established domains are required. Hence, an investor can help to build associations with industry doyens, which results from a startup gain visibility and credibility in the market.

Making introductions, build meaningful & profitable associations, giving insights, an investor can do more than just buying the company stocks. With their immense contribution, they can increase the chances of that company`s success.

If you think about it more deeply, why an experienced investor shouldn`t help the startup he is investing in? Want to know how you can find an investor for your business?

Learn the best business strategies that will help you to get investment for your small business with our Everything about Entrepreneurship course. To know more about this course and exclusive offers, click here https://www.badabusiness.com/?ref_code=ArticlesLeads.

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Business motivation

3 Simple & Effective Growth Hacks for Every Small Business

growth hacking strategies

Having a successful business is the dream of every aspiring entrepreneur. But let`s face the truth. Scaling and expanding your business is difficult. Initially, it means wearing multiple hats, sometimes all at the same time.

Sometimes it means understanding taxes and corporate compliance. Other times, it could also mean juggling between sales and marketing. It will also require you to interact with customers daily to create a meaningful customer relationship. And so much more!

At the end of the day, this tiring process will drain all your energy. However, if you want to scale and grow your business, there is still light at the end of the tunnel. All you need is to de-clutter your mind and shift your perspective a little to identify the most effective business growth hack.

Though, there are many existing growth hacks, here is a list of 5 strategies that will take your small business to the next level efficiently and quickly:

  1. Stand Out of the Crowd

Creating a unique experience for customers is necessary in the business world. There must be plenty of other business owners selling the same product as yours. Then why a customer should buy your product?

How your product will solve the immediate problem of the consumer in the market will make the ultimate difference. Sell the benefits and tell your target customer how their life will be changed after they purchase your product. Consumers want to know the stories behind your product, and not about your product.

  1. Research Competitors

“Keep your friends close, and your enemies closer”. Knowing about your competitors is necessary to stay ahead. Hence, do a market analysis and research about your competitors. Find out their key selling points and build a strategy that will work for your product. This is an excellent growth hack for small business owners who are in the early stages.

  1. Innovative & Personalized Marketing Strategies

In this digital age, creating a marketing strategy that is tailor-fit for your brand is a little tricky. But, if done properly, it can fetch more customers and boost sales. Small business owners can deploy creative growth hacks to pull more customers to their platforms by email marketing, product recommendations, visually appealing ad creative, and identifying high lifetime value (LTV).

Most of the business growth hacks state with a simple idea that emerged in the conversations. These growth hacks, if implemented quickly, can be quite effective for small business owners. A planned approach is necessary to scale these experiments.

Learn what works for what, not for your business. Find a customized business strategy as per your requirements with our Problem Solving Course. Click here to learn more: https://www.badabusiness.com/?ref_code=ArticlesLeads.

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Business motivation

Things You Need To Remember If You Are Planning to Open a Play School

play school business plan

In today’s era, parent’s want to have the best for their children, since the very beginning, be it beginning of their lifestyle, or education. This has thus lead to a rise in the expectations of the parents for their children as they look for getting their admissions done in pre-school or nursery. In such a case, it becomes vital for the preschool business plan to include what children and their parents want.

Long gone are the days when pre-schools and junior classes meant teaching the young minds. Just like the changing times, the ways of giving education to children have also changed drastically over a few years. The young minds now need to teach their alphabets and everything else they need to know through fun learning. With this new concept, it often becomes challenging for those planning to open a playschool to understanding what all their school should have. Here is a guide to how to start a play school in India:

Location

Opening a playschool at primary locations, such as residential areas helps you in getting more children. Apart from the locality, you also need to take care that the space you are planning to take for your playschool has enough space for the little ones to run and play. You also might need to install some swings or toy-cars, so keep in mind you have enough space.

Amenities

Parents expect their child’s day at school to be full of fun-filled activities. Having some chairs and tables to sit and read is no more sufficient. You need to install various amenities across the playschool premises. These can be swings, swimming pool, toy cars, ball pool etc. While a school doesn’t need to have all of these, but the more you have, the more they add to your school’s impression.

Security

Parents these days are highly concerned about their children’s’ safety. Install CCTV cameras across the premises and also provide live access to parents if possible to gain their trust towards your school. If your budget allows, you can also hire a guard who is responsible for taking in the students and handing them back to the parents.

Staff

Your play school requires different types of staff members for different requirements. This includes qualified teachers to indulge children in activity-based learnings, many who can take care of the children, a receptionist who can show the parents around and make them register their students, a guard as mentioned above, and a driver who can pick and drop the children to their homes.

Learn a lot more about how you can turn your innovative idea into a start-up business with the help of Everything about Entrepreneurship course by Bada Business. To know more about the course, visit https://www.badabusiness.com/?ref_code=ArticlesLeads

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Business motivation

How to Get Financial Help To Turn You Innovative Idea into A Business

Innovative Idea

While many business aspirants come up with innovative ideas that have the scope to mark their own presence in the market, they often lack the finances to be able to start their business. In such a case, they search for sources to provide them with financial support. Here are 5 ways in which you can fund-raise for your start-up:

1. Customer is the best investment:
A customer is the best person to invest in a company. The money earned by the first few customers helps in preventing the need to take a loan or search for other investors.

2. Bootstrap:
Investors often check whether the business owner himself is also investing a business or not. This helps in building the investors’ trust towards you and proves your seriousness towards your business. This also increases your dedication towards your company

3. Peer-to-peer lending
When you lend money from your friends or family, you get a lot of advantages. You don’t need to give them interest or share in the company. Moreover, this doesn’t bring the hassle of documentation with it, and you mostly get money instantly.

4. Crowd-funding
Crowdfunding refers to raising finance from public. While on one hand this helps in raising funds for your start-up, it has also turned out to be a good source of free marketing.

5. Angel Investment
As the name proves, these investors work as magic for your startups. Angel investors may give debt or equity as financial aid for your company. If you have a strong belief towards your business’ growth, but lack revenue to drive it, angel investors can prove to be very helpful.

Bada Business offers a complete course on Fund-raising which gives you a complete guide on the types and ways in which you can do fund-raising for your business. The ‘Fund Raising” Problem solving course by Dr. Sanjay Kathuria has 32 videos. To know more about the PSCa course or to enroll, visit https://www.badabusiness.com/psc?ref_code=ArticlesLeads

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Business motivation

12 Entrepreneur Quotes to Inspire Success in Your Life and Business in 2021

What is success? There are many definitions, but one thing remains common that success comes in the face of failures and barriers. The nature of success requires hard work, inspiration and motivation. An entrepreneur should focus on their business; having few phases that motivate can give businessmen support they need. That’s why we have gathered a few inspirational quotes for successful people like Steve Jobs, Bill Gates, Mark Zuckerberg and others to inspire you daily.

Motivating and Inspiring Quotes by Successful People:

  1. “My biggest motivation? Just to keep challenging myself. I see life almost like one long University education that I never had — every day I’m learning something new.” -Richard Branson, founder Virgin Group
  2. “You don’t learn to walk by following rules. You learn by doing and falling over.” – Richard Branson, founder Virgin Group
  3. “Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.” – Steve Jobs, Co-founder, CEO, Chairman Apple Inc
  4. “Every time you state what you want or believe, you’re the first to hear it. It’s a message to both you and others about what you think is possible. Don’t put a ceiling on yourself.” – Oprah Winfrey, media proprietor
  5. “I knew that if I failed I wouldn’t regret that, but I knew the one thing I might regret is not trying.” -Jeff Bezos, founder and CEO Amazon
  6. “Whether you think you can, or think you can’t — you’re right.” – Henry Ford, Founder Ford Motor Company
  7. “It’s not about ideas. It’s about making ideas happen.” – Scott Belsky, co-founder Behance
  8. “Your most unhappy customers are your greatest source of learning.” -Bill Gates, founder and CEO Microsoft
  9. “If you just work on stuff that you like and you’re passionate about, you don’t have to have a master plan with how things will play out.” –Mark Zuckerberg, founder and CEO Facebook
  10. “Always deliver more than expected.” – Larry Page, co-founder Google
  11. “Design is not just what it looks like and feels like. Design is how it works.” -Steve Jobs, founder, chairman and CEO Apple Inc
  12. “All humans are entrepreneurs not because they should start companies but because the will to create is encoded in human DNA.” – Reid Hoffman, co-founder LinkedIn

What’s your favourite success quote? We hope you can draw inspiration and motivation from these powerful quotes as you continue to grow your business.

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Business motivation

10 Inspiring Biographies of Business Leaders Every Entrepreneur Should Read

Biographies Every Entrepreneur Should Read| Representational Image (Photo Credits: Pixabay)
Biographies Every Entrepreneur Should Read| Representational Image (Photo Credits: Pixabay)

Every entrepreneur, before entering the market, reads and analyses various information required to establish and sustain the business. Not only budding entrepreneurs, established businessmen also need to do their research ahead to taking any decision. However, not everything is learnt and researched on our own, sometimes experiences from the lives- success and struggles – of others help in paving paths for success. The best way to do this by reading the biographies, autobiographies and memoirs of successful businesspersons. 5 Ways To Eliminate Work Stress And Avoid Burnout.

Not only the biographies provide a constant source of motivation, they also guide entrepreneurs in finding solutions to difficult business problems, accept failures and keep going despite all odds.Top 24 Business Movies Every Entrepreneur Should Watch for Inspiration and Motivation.

Here is a List of 10 Business Biographies every Entrepreneur Should Read-

Dhirubhai Ambani: Against All Odds by A G Krishnamurthy

Bhujia Barons: The Untold Story of How Haldiram Built a 5000 Crore Empire by Pavitra Kumar

The First Tycoon: The Epic Life of Cornelius Vanderbilt by T.J. Stiles

Hit Refresh by Satya Nadella
The Z Factor: My Journey as the Wrong Man at the Right Time by Subhash Chandra and Pranjal Sharma
Shark Tales by Barbara Corcoran with Bruce Littlefield
Steel King: Lakshmi Mittal by Prateeksha M Tiwary

My Life and Work: Autobiography of Henry Ford

Dream With Your Eyes Open by Ronnie Screwvala

By Invitation Only by Alexis Maybank and Alexandra Wilkis Wilson

Businesses take time to settle in and succeed. Many people lose their hopes and give up few steps for reaching the goal. A continuous and abundant inflow of positivity, inspiration and guidance is crucial to keep the spirits high and keep moving ahead despite all the bottlenecks and failure.

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Business motivation

5 Ways To Eliminate Work Stress And Avoid Burnout

Ways to Eliminate Work Stress| Representational Image (Photo Credits: Pixabay)
Ways to Eliminate Work Stress| Representational Image (Photo Credits: Pixabay)

Everyone who has ever held a job has felt the pressure of work-related stress at some point in their life. Experiencing work stress is unavoidable at times- even if you love what you do. In the short-term, there may be pressure to meet deadlines. But when work-related stress becomes chronic, it can be harmful to both emotional and physical health.3 Ideas to Keep Your Employees Engaged and Motivated.

Is there any way to get rid of work stress? How to keep cool during tight deadlines? We know you want to get answers to these questions, right? Here are steps you can take to keep work stress to a minimum. Top 24 Business Movies Every Entrepreneur Should Watch for Inspiration and Motivation.

Recognise Warning Signs of Excessive Stress

When you feel that you are under immense pressure at workplace, you lose confidence and may become bad-tempered. This can lead to less productivity and your work may seem less rewarding. If you ignore chronic stress it can lead to emotional and physical problems.

Take time to recharge

Even a few minutes of me-time during a hectic day can help prevent burnout. Listening to your favourite songs or watching a funny video can relax you. During your personal time, you should also avoid checking work-related emails and messages.

Eat Right And Sleep Well

Food and sleep have a major impact on us as they directly affect our health. Most of the health experts advise eating a low-sugar and high-protein diet. If you have problem falling asleep or you wake up in the night and can’t get back to sleep, then try a simple breathing trick: Cover your right nostril and breathe through left nostril for three to five minutes.

Balance your work and personal life

Being available all the time will easily burn you out. It is important to give equal importance to work and home life to avoid potential stress. This means taking out time for socialising and establishing rules for when you will check work-related emails or take phone calls.

Motivate yourself

Hundreds of thoughts stream through your mind every day, This can also include negativity. The fix? Instead of being critical of yourself, try self-motivating yourself. Encouraging thoughts will help you to achieve your goals and ultimately train you to inspire others.

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Business motivation

Top 24 Business Movies Every Entrepreneur Should Watch for Inspiration and Motivation

Movies Every Entrepreneur Should Watch| Representational Image (Photo Credits: Pixabay)
Movies Every Entrepreneur Should Watch| Representational Image (Photo Credits: Pixabay)

Entrepreneurs and Businessmen, like most of the people, need inspiration from time-to-time. And what’s better than watching some thought-provoking movies. The good movies can offer a lot to learn about the plight of entrepreneurs and startups from the comfort of your couch.Top 21 Books That Every Entrepreneur Should Read In 2021.
Some movies can inspire to raise the bar while others can push you to original thoughts and conclusions. The movies can also give you some exciting and fresh ideas or can even help you to make a breakthrough. 5 Habits of Highly Successful Leaders and Entrepreneurs.

Top 24 Films About Business

The Wolf of Wall Street by Martin Scorsese

Boiler Room by Ben Younger

The Billionaire by Songyos Sugmakanan

The Corporation by Mark Achbar

Pirates of Silicon Valley by Martyn Burke

Moneyball by Bennett Miller

Startup.com by Chris Hegedus and Jehane Noujaim

The Aviator by Martin Scorsese

Joy by David O Russell

The Social Network by David Fincher

Wall Street by Oliver Stone

Jerry Maguire by Cameron Crowe

Jobs by Joshua Michael Stern

Breaking Bad by Vince Gilligan

The Pursuit of Happyness by Gabriele Muccino

The Goods: Live Hard, Sell Hard by Neal Brennan

Rocket Singh: Salesman of the Year by Shimit Amin

Glengarry Glen Ross by James Foley

Suckers by Roger Nygard

Mad Men by Matthew Weiner

Billionaire Boys Club by James Cox

Margin Call by JC Chandor

Too Big to Fail by Curtis Hanson

Con Man by Bruce Caulk

Films about successful businessmen and millionaires have considerable appeal to the audience, especially when they are based on real-life events. Movies about successful people can inspire us and may even be the reason for starting a business.

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Business motivation

top 5 Smart Tips for Packaging Business in India

packaging business tips

‘Never judge a book by its cover’, an old proverb that we must have heard multiple times. However, when it comes to marketing a product, the outer packaging is very important. Wrong packaging could be detrimental to your packaging business.

Packaging can influence customer behavior, improves customer satisfaction, and motivates consumers. It is also one of the key drivers of repeat purchases, especially when you are at the early stages of the packaging business.

According to a Business Standard report, in developing countries like India, the packaging is almost 54% more important for customer satisfaction, as compared to developed countries such as the US & Japan.

Having an excellent packaging design not only makes your product unique but also attracts customers. Good packaging can elevate your brand value, justify the price, and makes your product stand out from the competitors. It also ensures the safety of your products.

Let`s discuss some of the most effective tips that you must keep in mind when it comes to a packaging business startup:

  1. Packaging Budget

Before starting a packaging business, determine your budget. Your budget will also determine the material you can use, and how you can make your packaging design as enticing as possible.

Materials like fibers and glass look beautiful, however, they do not come cheap either to manufacture or to ship. Glass is heavy and breakable. It is also not appropriate for shipping as well. This may lead to consumer prices. So, it is better to determine the budget for packaging. You can also opt for a bulk option which can be cost-effective.

  1. Multiple Packaging Plan

It is always wise to do some research before finalizing your packaging requirements based on your product. Invest a considerable amount of time to study the various packaging options available. Choose the type of packaging that guarantees the safety of your product and leaves an unforgettable impression on your consumer`s mind.

  1. Packaging Transportation

After deciding on the package design, it is time to shift your focus to its functional characteristics. No matter how attractive your packaging is if the packaging does not ensure the safety of the product, it is useless. Hence, pick your packaging wisely.

  1. Inventory Management

One of the most crucial parameters for any packaging business start-up is inventory management. Inventory management is done properly can be cost-effective. Analyze the stocking options based on your business requirements and manage your packing business smartly.

  1. Choose Sustainable Packaging Materials

Building purposeful packaging can leave a long-lasting impression on your customer`s mind. If you are an entrepreneur and your business is at an early stage, choose packaging that conveys relevant information about your brand. Pick a packaging material that is light-weight, eco-friendly, and sustainable for the environment.

Packaging serves as the main ‘attention-getter’ in every industry and can drive more customers to your products. Keeping the above-mentioned factors can help you choose the perfect packaging for your business.

Apart from picking up the best packaging material, there could be more challenges that can hinder the growth of your business. So how will you get past them when you are just starting up?

Find solutions to all your business problems with Problem Solving Courses that will give you some wonderful insights into the packaging business.

Find solutions to your every business-related challenges here: https://www.badabusiness.com/psc?ref_code=ArticlesLeads