Category: Business motivation

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Business motivation

3 Trending & Profitable Business Ideas Amidst COVID-19

बिजनेस टिप्स
बिजनेस टिप्स

“Thank god, I didn’t start my business in 2020.” Have you also been having the same thoughts? We all know how numerous businesses, big or small, have taken a hit because of the lockdowns and social distancing to avoid or delay the spread of covid19. Looking at the condition of these businesses, many business ideas have been shelved by the entrepreneurs that were supposed to go on the floor in 2020.

 

Nonetheless, the show must go on. We can’t let this pandemic rob us of our zeal, passion, and desire to start a business of our own. But then, the business idea needs to be relevant and viable enough to survive the changed consumer behavior and the drastic market shift. Stay with us as we introduce you to 3 such trending and profitable business ideas that will be beneficial for both you and the consumer.(Dr Vivek Bindra to Share Business Expansion Strategies During World’s Largest Webinar ‘Retail Ka Mahakumbh’ on September 27 Click Here to Register Now)

Blog It Out

It is not possible to talk about trends and not include technology. The combination of trends and technology has become a rage over years. If met with amazing writing skills, this already amazing relationship between trend and technology can work wonders. Yes, we are talking about blogs. This is one business that has maintained its title as the most exciting and profitable business around in and posts the COVID-19 era.

With the help of a blog, you can sell your time as a consultant or a coach, promote your own products(SaaS), or get into affiliate marketing with the help of affiliate programs. Just choose what is your area of interest and what your blogs should be based on while keeping in mind the primary business factors as well as your passions.

Dropshipping Is The New Black

The global pandemic of COVID 19 has made the e-commerce industry grow at an exponential rate as a very high number of businesses have gone online which sits well with the customers who have completely resorted to online shopping. Now the question arises, as a business owner how can you encash this opportunity. Our suggestion would be to become a dropshipper. A dropshipper is a retailer who takes online orders on behalf of a manufacturer. 

He takes the orders, passing it on to the wholesaler or another retailer who then directly ships it to the customer. You can research what products have been trending and post that you can decide on the best e-commerce platform for you to start the business.

This Web Is Good To Develop

What do you think happens when most of the businesses choose to go digital? They need websites. Now is the best time to get into the business of developing web for many needy businesses that are looking to cater to the massive population present online. If you are good at coding and have an interest in developing web content, this is your Jam. If you are skilled enough and offer better prices than many coders out there, you will have immense scope for you to set your business and take it to new heights.

At the end of the day, what seems to be working well for others might not be the best option for you. We all have different passions, niches, and budgets. We would lightly recommend choosing a business that matches most of your requirements on the checklist. All 3 ideas that we have shared with you have immense potential even when operated on a smaller scale.

 

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Business motivation

Festive Season 2020: Use These Tips To Boost Your Business Amid Festive Time

That time of the year is here–the festivities! It’s time to put a temporary halt at this long year of suffering, the overpowering anxiety, tons of struggles, and the never-ending sadness. The world has been through enough and is now eagerly looking forward to the festivities to bring some joy back into their lives and make the most of the little things that bring them happiness.

This time of the year not only has the potential to bring a smile on the face of a common man but also emerges as a ray of hope for entrepreneurs to encash the seasonal business and bounce back once more! This article is all about the smallest of tips on festive business ideas that could possibly bring the biggest of changes in your small business. If that interests you, keep reading.

Let Your Personality Shine

Since everybody stays in a very festive mood, it would be a perfect time to build a strong relationship with your customers. Show them what your brand is all about by conducting various chat sessions with them. Let them know how fun you are by running interesting contests for them. 

Social Media Is The Holy Grail

There is no doubt that social media has completely taken over the marketing world. An official social media account does not only allow you to build a personality, it helps in staying connected to your audience as well to find prospects. Brands usually wait an entire hour to encash these festivities and we would suggest you do the same. Build a good social media presence so that you have a wider audience to market and sell your products to.

An Offer They Can’t Deny

A good offer to a customer means exactly what a flame means to a moth—It’s hard to keep your distance with it. Introduce some kickass offers that your customers can not turn a blind eye to. If a sale suits your business the best, go for it. Believe it or not, a sale has been recognized as the best tool to push the overall sales to another level altogether. Similarly, if discount coupons work well in your favor, leverage that. Be it anything, do not forget to make the most of it or be ready to wait an entire year to make up for the lost opportunities.

Allow Them To Order Online

Shoppers in today’s day and age belong to the generation that likes to make the payment through digital wallets. If you want to keep up with the trend and make some sales, introduce the option for your potential customers to shop online. It has been estimated that in the year 2020, 8 payment transactions out of 10 are going to be done digitally and 4 out of every 5 shoppers would choose online ordering over anything else.

It goes without saying that people of every age belonging to various social classes wait eagerly for this time of the year to make the purchase of their dreams. Now, it’s completely up to the business owner as to how they encash this opportunity to make their sales go through the roof. 

 

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Business motivation

Diwali 2020: 4 Seasonal Business Ideas To Light Up Your Festive Season

We are nearing the season of festivities and its reason enough to celebrate and be in the highest of the spirits! These festivities bring a smile on the face of every Indian but as well as provide opportunities for entrepreneurs to think of business ideas that not only help them display their skills but also help them get back on their feet. One such festival is Diwali that is next in line to be celebrated. There are tremendous seasonal business ideas that can be explored or discovered as it is undoubtedly one of the biggest festivals celebrated in our country. 

People from all social classes wait an entire year to make all of their special purchases, big or small, on this auspicious occasion. These purchases can vary from something as small as crackers to something as big as valuables like gold or silver. The idea of this article is to introduce you to 4 business ideas that can help you make good money this festive season.

Make Sweets, Spread Happiness

Festivals without sweets are like an empty box of candies–very disappointing. Sweets are integral and the most celebrated part of any and every festival in India. In these unprecedented times of social distancing, people are looking forward to exchanging boxes of sweets to celebrate the joyous occasion. If you trust your culinary skills and enjoy making lip-smacking colorful sweets, this is the business for you to get in!

Deck It Up With Decoratives

These are the times of COVID-19 and we, being the responsible citizens that we are, are fully aware of our responsibilities to maintain the social distance. However, this pandemic can not distance us anyhow from decking up our houses with beautiful lights, Diyas, candles, and various forms of decoratives. If the artisan in you is excited at the mere thought of starting this business, just imagine the amount of joy it’s going to bring into your life once you start doing it.

Make Rangoli With The Colours Of Joy

Celebrations feel incomplete without our very own Rangolis. A rangoli is mostly designed at the entrance of the house to welcome the visitors as well as the goddess Lakshmi herself. A rangoli not only makes our celebrations more colorful and auspicious but also is said to bring good luck. However, it is not possible for many to spare time to make these colorful patterns, hence they opt for a ready-made rangoli. If you are someone who has an eye for detail and a love for art, this could prove to be a great option for you to make the most of these seasonal festivities.

Those Dry Fruits Are Never Going Out Of Business

We have been exchanging sweets, gifts, and dry fruits every Diwali for ages now! This is the time to make the most of this tradition and get into the business of selling dry fruits. To make the boxes of dry fruits more presentable and visually appealing, you can try various different ways to pack them creatively. People these days are very much into making customized sweet as well as dry fruit boxes. You can unleash your creative side and make the packaging as aesthetically pleasing as possible so that it also qualifies as a gift to be exchanged on this joyous occasion.

These are just a few options picked from the pool of other viable options out there that can help you entrepreneurs set up a seasonal business of your own and network well to continue working on it the next season. These business opportunities are a wonderful way to make good money doing what you love doing the most. We hope this festive season brings you as much joy and positivity as you intend to spread in the lives of people you are going to touch with the amazing skills you possess.

 

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Business motivation

4 Amazing Tips to Make Small Business Thrive

Business Ideas
Business Tips

There are several prestigious business schools all over the world to provide you with the best of education and business tips on how to run a successful business. But, what if one is not financially sound to bear the hefty fees? As unfair as it may sound, many businesses around the world, big or small, have been thriving even without the owners having a degree from a credible B-school as well as the business management tips that always come in handy.

This success is only and only a result of the perfect business sense that a business owner possesses. However, when this amazing business sense is combined with some expert guidance, a business can truly unleash its maximum potential. Join us in our effort to share some very useful tips for small business owners that are worth paying attention to.

Focus On Your Goals And Be Specific With Them

First and foremost, We would always suggest all entrepreneurs set their goals. It is of extreme importance to do that as, without a goal, all your plans and executions will make no sense. Considering that A goal and a plan, go hand in hand, identify what you want to achieve with your dream venture. Once you have the bigger picture, these goals should be further simplified or broken down into short term goals/objectives. These short term goals should be quantifiable as they will help you assess the growth your business has made and how much is still left to do to achieve that final, much bigger objective.

Distribute Responsibilities

It is always a good practice to delegate. Although we have seen businesses being managed single-handedly before, the fact can not be denied that dividing tasks among the team members can improve the efficiency of a business by leaps and bounds. Avoiding redundancy in the roles and responsibilities of each member makes for better use of time, resources, and money, which are extremely crucial for small business owners.

Stick To What You Excel At

Many businesses have been met with failures and bankruptcy because they tried to do too much too soon. There is no denying the fact that being ambitious is a great thing to stay motivated, however, being over-ambitious has seldom proved to be fruitful for most of the businesses, especially small-scale businesses. It is highly advisable for small businesses to stick to their niche and make the most of it rather than trying your hand at every other opportunity.

Network On Social Media Platforms

With a huge chunk of the population now presents across all social media platforms, it would be a huge mistake not to build your own social media presence. Please understand the fact that a business is highly likely to survive if it is seen and reached by a large number of consumers. The best way to do that is to let them know of your products, services and offers via social media channels.  Social media is an amazing platform to also generate sales leads for your business as people these days like to spend most of their time on their phones that even includes online commerce. You need to come up with the content that will provide value to your potential customers.

All in all, it’s always a great idea and practice to look forward to what your mentors and experienced professionals around you have to say if you own a business or looking forward to starting one. We understand that running a business of any size is a daunting task on its own and we just hope to make it a bit easier on our entrepreneurs by sharing these quick tips so that they plan out all the necessary steps they need to achieve success. 

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Business motivation

Quick Business Management Tips for MSMEs to Bounce Back

बिजनेस
बिजनेस

 MSMEs are undoubtedly the backbone of our economy. The havoc this global pandemic has wreaked has not spared even the biggest of the businesses, one can only imagine how hard it must have been on these micro, small, and medium enterprises. MSMEs can use all business management tips along with several schemes introduced by the government that can help them stay in existence as they are the ones who contribute heavily to the GDP of India and should not be compromised at any cost.

Even though our government and other bodies are constantly making an effort to fight the economic depression with several schemes and policies, there are many businesses across the nation that are highly concerned about the future of their respective businesses. In this article, we present some top business tips that will prove to be helpful for MSMEs to revive their businesses post-COVID era.

Perform A Financial Analysis

In these unprecedented times of economic crisis, it is advisable especially MSMEs and SMEs to once assess the financial situation of your business and company. The protocol is to sit with a professional such as a CA and assess the cash inflow, finding out the assets, liabilities, expenses, and so on. This information would be very important in making a plan for your business post COVID. However, before making a plan, please consider all of the schemes and policies introduced by the government and other bodies that can benefit your business financially. This plan will help you in deciding if your company can survive further expenses, new recruitments, etc.

Hold Hands With Digital Technology

No one can deny the fact that digitization has emerged in the form of the biggest change in the world of business. Covid-19 has taught us the importance of going digital. Those businesses who were procrastinating the task or underestimating the power of digital media are now forced to step out of their comfort zone. Turns out, digital media, not only helps you showcase your business to a wider audience but also helps in marketing it better. We all know that more than half of the world uses the internet now, hence, there could not have been a better time for business to build their digital presence.

Manage Crisis Like A Warrior With Crisis Management Strategy

In these trying times, we all learned our lessons the hardest way. We learned that neither can we predict a crisis, nor can we escape one. The whole and sole existence of your business would depend on how effective your crisis management is, if and when a crisis hits hard. This management strategy is all about the immediate call to action as well as to manage the longer impact it could have on your business. Put the experts to work, and figure out a master plan that proves to be the shield that protects your hard work from getting ruined forever.

Don’t procrastinate is what we have to say to each and every business out there that has been affected by the pandemic in some way or the other. The need of the hour is to identify the issues and start working on them immediately. After all, we can not let any crisis take away from us what we have been putting our hardest work building up.

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Business motivation Motivational Startup

Post-COVID-19 Business: 73% Small And Medium-Sized Businesses Confident of Bouncing Back Post-Coronavirus; Here Are 4 Key Aspects Which SMBs Are Looking at, Says Report

Growth (Photo Credits: Pikist)

New Delhi, September 9: The coronavirus pandemic has affected everyone, from businesses being shut, to workers being fired, the economy of the country is in the doldrums. Amid the gloom, a new report- “HP Asia SMB Report 2020” has been published which gives a ray of hope. According to an IANS report,  73 per cent of small and medium-sized businesses (SMBs) in India are confident that they will survive and bounce back post-COVID-19.

The report highlights that Indian SMBs are more confident than their Asian peers in bouncing back after the pandemic as the regional average stood at 60 per cent. The Indian SMBs are confident that they will bounce back and believe that this period is giving them a good opportunity to reformulate the business strategy.

The respondents are hopeful that the pandemic would bring business opportunity, but it will take some time. Here’s how the SMBs believe to bounce back and fight the pandemic:

4 Key Aspects Which SMBs are Looking at:

The report mentioned that Indian SMBs have recognised four key aspects that will help them best to bounce back – using online tools, flexible work options, advice on strategy and innovation at work.

Doing digital: SMBs in India recognised the importance of going digital to revive the business. The report mentioned that the respondents believed that digital adoption was essential for the revival of the business.

For the study, 1,600 SMBs completed the survey between May 26 and June 7, which comprised 200 interviews in each of the markets- Australia, India, Indonesia, Japan, South Korea, Singapore, Thailand, and Vietnam.

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Business motivation Startup

IITs to Help Indian Agarbatti Sector Become Atmanirbhar, 4-Point Agenda Drawn Up by Centre to Extend Support to the Incense Stick Industry

Incense Stick (Photo Credits: Needpix)

Lucknow, September 7: In order to help the agarbatti (incense sticks) industry, the Centre has decided to rope in IITs to extend their support. According to an IANS report, the Micro, Small and Medium Enterprises (MSMEs) Ministry has expanded its reach and support to artisans, involved in making agarbattis, as well as to the industry, by its new guidelines issued on September 4.

The Centre has drawn a 4-point agenda for extending support to the industry, which it believes will help in strengthening India`s MSME sector. The Ministry is working to  The centre has decided to continuously support the artisans through training, by providing raw material, marketing and financial support.

It has also worked on all aspects of this product, like innovation in the fragrance and packaging, use of new or alternate raw materials like re-usable flowers, coir pith, and supply of bamboo sticks by closely working with the Ministry of Agriculture to help the industry flourish.

What is the Centre of Excellence?

A `Centre of Excellence` is also being set up in the Flavour and Fragrance Development Centre in Uttar Pradesh`s Kannauj, which is known to be India`s fragrance capital.

The Centre has also decided to set up 10 clusters with proper marketing linkages under SFURTI (Scheme of Fund for Regeneration of Traditional Industries) scheme of the MSME Ministry at a total cost of about Rs 50 crore.

The Centre believes that these projects will give a boost to the agarbatti industry and help in further building indigenous capability in all areas of agarbatti manufacturing with increased exports, and enhanced employment opportunities to the artisans and entrepreneurs. This is expected to benefit about 5,000 artisans for their sustainable employment.

The Khadi and Village Industries Commission, one of the statutory organisations under the MSME, will implement the programme and will “handhold the artisans” with proper backward & forward linkages and support, the Centre claimed.

 

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Business motivation

Ease of Doing Business 2019 Ranking: Andhra Pradesh Ranks First in Implementing Business Reforms Followed by UP and Telangana; Check List of Top 10 States

Ease of Doing Business (Photo Credits: Pexels)

Andhra Pradesh has again topped the list in the ranking of states and union territories (UTs) based on implementation of the business reform action plan. According to a report released by Finance Minister Nirmala Sitharaman on Saturday, Andhra Pradesh tops the list, while Uttar Pradesh and Telangana were placed at the second and third place, respectively in the ease of doing business for 2019. The list has been prepared by the Department for Promotion of Industry and Internal Trade (DPIIT).

The ranking makes states and UTs a better place to do business. Accordin to a government release, the parameters include areas such as construction permit, labour regulation, environmental registration, access to information, land availability and single-window system. It is the DPIIT that conducts the exercise for all states/UTs under the Business Reform Action Plan (BRAP). In the 2019 ranking which was released in July 2018, Andhra Pradesh had topped the chart, followed by Telangana and Haryana.

Ranking of States based on the implementation of Business Reform Action Plan started in the year 2015. Till date, State Rankings have been released for the years 2015, 2016 and 2017-18. The Business Reform Action Plan 2018-19 included 180 reform points covering 12 business regulatory areas such as Access to Information, Single Window System, Labour, Environment, etc.

The top ten states under State Reform Action Plan 2019 are:

  1. Andhra Pradesh
  2. Uttar Pradesh
  3. Telangana
  4. Madhya Pradesh
  5. Jharkhand
  6. Chhattisgarh
  7. Himachal Pradesh
  8. Rajasthan
  9. West Bengal
  10. Gujarat

The larger objective of attracting investments and increasing Ease of Doing Business in each State was sought to be achieved by introducing an element of healthy competition through a system of ranking states based on their performance in the implementation of Business Reform Action Plan.

The ranking this time gives full weightage to the feedback from over thirty thousand respondents at the ground level, who gave their opinion about the effectiveness of the reforms.State rankings will help attract investments, foster healthy competition and increase Ease of Doing Business in each State.

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Business motivation

Karnataka Government Offers Sops to IT Companies To Encourage Them to Invest Outside Bengaluru

Investments (Photo Credits: Pixabay)

Bangalore, September 4: In an effort to develop a strong IT ecosystem beyond Bengaluru, Karnataka government has offered a slew of sops for IT companies. According to an IANS report, the aim is to encourage them to set up shops outside the city.

IT, BT, Science and Technology Minister C.N. Ashwath Narayan as quoted in the report said, “We aim to also strengthen the ecosystem and boost growth in Tier 2 and Tier 3 cities of the state.  The Minister was optimistic that over 60 lakh plus new jobs will be created in this sector.

In order to help IT companies, the government would be offering financial support to IT hubs and clusters of up to Rs 3 crore outside Zone 3. In the same way, players would also be eligible for financial support of Rs 2 crore outside Zone 3. In addition to this, stamp duty exemption — 75 per cent was also announced in Mysuru, Hubballi, Dharwad and Mangaluru, and 100 per cent for all other zones except Zone 3.

Among some of the sops announced, companies outside the zone will also be eligible for provident fund and ESI reimbursement of up to Rs 10 lakh.

As part of the other major initiatives, the government will consider incentives for mega projects above Rs 250 crore on a case by case basis. The state offered these attractions as part of its new IT policy for the period 2020- 25.

 

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Business motivation

Business Plans: 4 Types of Simple Yet Effective Start-Up Plans

इन्वेस्टमेंट प्लान
इन्वेस्टमेंट प्लान

A start-up business plan is a cohesive document that demonstrates how a business or an organization has decided or strategized to achieve the set goals! But are all business plans the same? Does one kind of business plan suffice all kinds of business requirements in this world? NO! Just like a suit is tailor-made especially to fit your body, the same way a plan should be made exclusively to meet the needs of the respective businesses.

There is no denying the fact that just like an individual goes through several phases of life, a business also experiences several changes. With constant evolution and necessary developments, the needs of a business change and to fulfil those needs, different plans might be required. With the help of this article, we will try and divide business plans broadly into 4 categories. 

The One-Page Business Plan

Do you have a mind-blowing idea but despise making complicated and boring business plans? If yes, then this one-page business plan is your go-to option. This kind of business plan would be enough to put things in order and cover all the ideas that you might have to run your business. A short/one-page business plan is not only easy on you to make but also helps the potential investors or partners go through the strategies easily and quickly.

Traditional Business Plan

A traditional business plan is more or less a detailed account or cohesive document that covers all aspects of how one plans on running a business. This section includes the official name of your business, its legal structure, and the location where you plan to operate. It is highly recommended by the experts to include a chart showcasing the authority accountable to accomplish various tasks such as sales and marketing, finance, operations, etc. In the long run, a Business plan holds the potential to save money as it carefully presents the present and future financial projections.

Business Model Canvas

A business Model Canvas is basically nothing but a visual alternative to a normal business plan. In layman terms, it is all about your business ideas on a piece of paper. When you draw a business canvas model, you will be able to visualize your business, find out the weak points, and assess the viability as well. The business canvas model is not necessarily designed for presenting new business ideas, one can make the most out of it by using it to analyze the current business situation to make improvements if need be. A business model canvas is used by many businesses as it helps them break down the entire process into key segments that are easily understood with the help of charts and figures. 

Business Pitch

A business pitch is nothing but a systematic and interesting way to present your vision and idea to an investor or a group of people in order to secure the necessary resources to run a business and/or to bag the much-needed funding. This pitch is generally prepared to take a business plan forward or to improve an already existing business. A business pitch is supposed to put the message, mission, and vision across pretty clearly. It is important to get to the main point and save investors from losing interest. 

Choose wisely which kind of plan is the need of the hour and go about it. Highlight all the aspects of running the business of your dreams, mention all the information that is required, and make that business plan so irresistible that no investor could afford to turn a blind eye to that masterpiece. Always remember, a carefully crafted business plan could prove to be the deal maker for your business if presented the right way.