Category: Startup

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Startup

5 Leadership Qualities That Every Startup Needs

5 Leadership Qualities That Every Startup Needs
5 Leadership Qualities That Every Startup Needs.

In today’s time, everyone wants to do their own work, want to start their own startup. Due to this, different types of startups are beginning in the market today. But there are only a few startups that last long.

The main reason for the failure of any startup is the lack of leadership. Under the leadership of the right individual, any startup reaches the heights of the sky and due to a lack of leadership, a good business can also fail.

In today’s article, we will tell you characteristics that make up for the needed quality leadership, with which you can grow your startup.

So let’s know what those five leadership qualities are.

  1. 1) Building A Team Instead Of Working Alone:
    Often due to lack of money, many people want to invest less money in any startup, due to which they keep doing most of the work themselves. One wrong result of this is that the person gets entangled in various tasks and does injustice to his startup. Because of this, one is not able to use his energy properly. On the other hand, the owner of a successful startup divides his work into small parts. He uses his intelligence properly by spending money on manpower and works by making a strategy for how to grow the startup.

    If you are also looking to start a startup of your own, then instead of working alone, focus on team building. With this, you will be able to grow your business soon. There are many Leadership Consultants in the market today who can guide you to take your startup forward based on their years of experience. To know more about team building, you should watch this video by Dr. Vivek Bindra –

  2. 2) Motivating Each Team Member Regularly:

    After team building, now it is important that you always keep your team members motivated. It helps in maintaining a positive atmosphere in the office. When your team works by being motivated, then you also get good results in business. If the atmosphere of the team remains pleasant, then each person tries to give his best at his own level. Without motivation, team members always remain disappointed. They feel that no one is paying attention to their work. That’s why keeping the team motivated from time to time regarding their work and their personality is necessary. This will keep the employees engaged in work and play an important role in the team’s growth. To know more about this you can watch this video:

  3. 3) The Ability to Make The Right Decisions:

    A leader must have the ability to make the right decisions. If a leader cannot make the right decision for his team, then he will not be able to run the team either. A whole team listens to the leader of its group and moves forward on his instructions and decisions. If the leader hesitates to take decisions, then the morale of the team will also be broken. That’s why even if the decision is harsh, if it is in the interest of the team, then you should not delay in taking the decision. To be a good leader, the leader should always be ready to take tough decisions and set a good example in front of the team.
  4. 4) Staying Confident:

    A confident leader stands out even in a crowd. If the leader is confident, then the team members also believe in themselves and work well following the footsteps of their leaders. Lack of confidence as a leader takes you nowhere. A good leader is also good at showing his confidence in front of his team. He makes decisions better. Leads by his own example which directly affects the rest of the team. Even if the situations are opposite, a person full of self-confidence always thinks positively and takes the same decision. So work on the skills that let you be confident and you’ll set the right example for the rest of your team.
  5. 5) Taking Care Of Time Management:

    A good leader is one who makes good use of time. If the leader himself does not care about time, If he does not do any work on time, then the rest of the team will see him and develop the habit of leaving today’s work for tomorrow and tomorrow’s work for the day after tomorrow and the growth will stop there. As a leader, you should take care of time management. By using time properly, you can complete many of your tasks and present a good example in front of the team. Seeing you working at the right time, other team members will also take interest in the work and will play an important role in growth. To know how some of the richest persons in the world manage their time, you can watch this video by Dr. Vivek Bindra:

If you also want to take your startup forward, then adopt these 5 leadership qualities today. Apart from making you a good leader, these five qualities will also play an important role in the success of your startup.

Apart from this, if you are a businessman and are facing problems in your business and want to get good guidance from a personal business coach in furthering your startup business, you should choose the PSC (Problem-Solving Course), so that you can get a good hand holding in your business and multiply your earnings.

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Startup

Three Primary Components of Effective Business Management

business-management
Three Primary Components of Effective Business Management.

The three primary components of a business, financial resources, capital, and human resources, are effective for business management because they provide the necessary foundation for a company to operate and grow.

What is Business Management?

Business management is the process of planning, organizing, directing, and controlling the resources (financial, human, and material or capital) of a business to achieve its objectives. The primary goal of business management is to maximize profits while minimizing costs and risks.

Why is this important?

In business management, managers use a variety of tools and techniques to manage the resources of a company effectively. This includes strategic planning, decision-making, financial management, marketing, operations management, and human resource management. Effective business management requires a deep understanding of the company’s goals, a clear vision for the future, and the ability to adapt to changing market conditions.

Business management is critical to the success of any organization, regardless of its size or industry. It enables a company to navigate the complexities of the business world, make informed decisions, and stay competitive in the marketplace. Effective business management can help a company grow, improve its profitability, and achieve long-term success.

How do the three main components of business play an important role?

These three primary components (financial resources, capital, and human resources) play a vital role in determining the success of the company.

Financial Resources

Financial-Resources

Financial resources refer to the money or funds available to a business for investment and operations. It includes assets such as cash, accounts receivable, and inventory, as well as liabilities such as accounts payable and debts. Financial resources enable a company to invest in new opportunities, expand its operations, and sustain itself during difficult times.

Capital

Capital

Capital is a broader concept than financial resources, as it refers to all the assets of a company, both tangible and intangible. It includes physical assets such as buildings, equipment, and property, as well as intellectual property such as patents, trademarks, and brand recognition. Capital provides the business with the means to generate profits, attract customers, and innovate.

Human Resources

Human Resources

Human resources refer to the people who work for a business, including employees, managers, and executives. They are the backbone of a company, and their knowledge, skills, and expertise contribute significantly to its success. Human resources also encompass the company’s culture, values, and work environment, which can impact employee retention, productivity, and job satisfaction.

However, these three primary components only work well when they are managed with the key functional areas of a business. These six functional areas of a business are legal, manufacturing or service production, marketing, accounting, financing, and human resources. Each of these areas has specific roles and responsibilities within a company, and they must work together cohesively to ensure the success of the business.

Let’s have a look at these six functional areas in detail:

  • Legal:
    The legal department is responsible for ensuring that the company’s contracts and agreements are legally binding and enforceable. This includes drafting contracts, negotiating terms, and resolving disputes.
  • Manufacturing or Service Production:
    The manufacturing or service production department is responsible for creating and delivering the company’s products or services. This includes sourcing raw materials, overseeing the production process, and ensuring quality control.
  • Marketing:
    The marketing department is responsible for promoting the company’s products or services to potential customers. This includes conducting market research, creating advertising campaigns, and managing social media and other promotional activities.
  • Accounting:
    The accounting department is responsible for managing the company’s financial resources. This includes maintaining accurate financial records, preparing financial statements, and managing accounts payable and receivable.
  • Financing:
    The financing department is responsible for managing the company’s financial resources, including raising capital and managing debt. This includes working with investors, managing loans, and maintaining relationships with financial institutions.
  • Human Resources:
    The human resources department is responsible for managing the company’s workforce. This includes recruiting and hiring employees, managing benefits and compensation, and providing training and development opportunities.

In conclusion, financial resources, capital, and human resources are all critical components of a business’s value, and companies need to balance and manage them effectively to achieve long-term success. Each of these functional areas plays a crucial role in the success of a business, and they must work together effectively to achieve the company’s goals and objectives.

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News Startup

Know The Reasons Why These Indian Startups Got Shut Down In 2022

Indian Startups Got Shut Down In 2022
Know The Reasons Why These Indian Startups Got Shut Down In 2022

The Indian startup environment has undoubtedly grown tremendously over the past five years, becoming the third-largest startup ecosystem globally after the US and China. The record-breaking financial inflow into India in 2021 contributed to the enthusiasm of Indian entrepreneurs. Then 2022 arrived, a year that will be recalled in the future for all the opposite reasons.

Due to a lack of funding, eight Indian firms had to close their doors in 2022. Five of the eight startups that closed their doors were in the Edtech industry. In addition to shutting down, many large software firms and unicorns had to close their cash-draining sectors to combat the mounting costs. For instance, Ola liquidated Ola Dash, Ola Foods, and Ola Play, three of its verticals.

The following is a list of the Indian startups that shut their shop this year

Lido

The abrupt closure of Lido Learning’s services on February 4, 2022, left 150 of the company’s employees with serious doubts about their futures. Some of the well-known angel investors supported the EdTech business. Vijay Shekhar Sharma, Mukesh Bansal, Anupam Mittal (founder of Shaadi.com and Shark Tank India judge), Ananth Narayanan (founder of MedLife), and Ronnie Screwvala (founder of UpGrad) were the ones supporting this firm.

ShopX

ShopX, a B2B e-commerce startup supported by Nandan Nilekani, ceased operations because it was unable to produce enough working capital and is in default on various loans it obtained from its backers, namely Infosys co-founder Nilekani and Singapore-based FSX PTE LTD. To assure that there are no additional recurrent payment obligations, ShopX significantly cut its personnel strength, as stated in the company’s bankruptcy case.

Udayy

After the opening of schools offline, the Edtech startup Udayy laid off 100–120 staff and shut down as a result of a slowdown in sales. The Gurugram-based firm, which was established in 2019 by Karan Varshney, Mahak Garg, and Saumya Yadav, provided learning and education services for children of kindergarten to eighth grade and was serving about 5,000 students each month.

Crejo

According to some reports, the cofounders of the Edtech business for extracurricular activities told the staff at a town hall about their plan to cease operations. Ankit Agarwal and Vikas Bansal, the company’s co-founders, explained to workers why they decided to wind down operations: a lack of finance and the reopening of schools.

Super Learn

The startup’s operations were suspended earlier this year as a result of a lack of funding, waning investor interest, the reopening of schools, and other factors, according to SuperLearn co-founder Kunal Bhatia, who made this statement on LinkedIn. SuperLearn shut down early this year intending to pay back its investors. It was obvious that the fiesta was approaching its conclusion since no one appeared to be believing the Edtech narrative any longer.

GoNuts

GoNuts’ founder decided to stop business operations in October of this year since the startup’s target market was not expanding. From investors including former Zomato cofounder Pankaj Chaddah, Ramakant Sharma, and LetsVenture, among others, the business had raised more than INR 7 Cr.

Qin1

The latest Edtech start-up to surrender to the ongoing financial freeze and suspend operations was the Noida-based Edtech platform Qin1, which discontinued operations due to a lack of readily available capital.

The creators of the firm, who had been providing live online lessons on coding and the English language to youngsters and teenagers between the ages of 6 and 18, were unable to secure a new round of funding, which led the company to halt operations a few months back.

Protonn

Protonn, a startup providing digital solutions, closed its doors in less than a year after receiving $9 million in venture funding. Anil Goteti and Mausam Bhatt, two former Flipkart executives, founded Proton in 2020 to help independent experts like attorneys, graphic designers, and nutritionists start their own businesses online, produce videos, have teaching sessions, generate payment connections, and monitor their results.

These were some major startups that sadly had to close their doors in 2022. The recession-related global funding crisis, which caused many valuations to be revised went downward, and this has contributed significantly to this decline. This year saw patchy startup growth, which was followed by a large number of firms ceasing operations in India.

The coming year has a lot of challenges for the Indian Startup arena, we can only hope that the new-age companies will counter every challenge and emerge victorious in the end.

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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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Startup

5 Top VC Funding Firms Focusing On Women-Led Startups

5 Top VC Funding Firms Focusing On Women-Led Startups
5 Top VC Funding Firms Focusing On Women-Led Startups

Gone are those days when women were confined within the four walls of the kitchen. Today, from sports to business, women are standing shoulder-to-shoulder with the world; dominating every sphere unabashedly and fearlessly.

And as more and more women are realizing the significance of being financially independent, India is experiencing a great surge in the number of female entrepreneurs. However, the number of female entrepreneurs is still low as compared to men as seven out of 100 entrepreneurs in India are women.

Nonetheless, female entrepreneurs are excelling with their ideas and execution techniques. Some are even becoming business motivational speakers to help others who are trying to make a mark in their respective fields. But despite their good ideas, they are facing challenges when it comes to funding. Here is a list of five VC funding firms that are helping women entrepreneurs in India:

1. Kalaari Capital

Founded by a true leader Vani Kola, Kalaari Capital is a leading VC that strives hard to help founders succeed and flourish in the business world. Vani is referred to as The Mother of Venture Capitalism in India, and there is a reason behind it. Kalaari Capital is an early-stage, technology-focused venture capital firm with $650 Mn in assets. Based out of Bengaluru, it has been empowering visionary entrepreneurs since 2006. Not content with being one of the first homegrown VC firms in India with a steadily growing list of startups in its portfolio, Kalaari launched Kstart, a seed fund initiative, in 2016.

Kstart focuses solely on seed-stage funding and differs from other funds in that it doesn’t set a valuation at the time a startup is raising funds from it. Kalaari has built a reputation for picking the best young minds and mentoring them to build successful enterprises, some prime examples being Myntra, Urban Ladder, Zivame, Power2SME, YourStory, and Bluestone, among others.

2. LetsVenture

Founded in 2013, LetsVenture provides a common platform for startups and investors alike to connect. LetsVenture works with startups and investors on discovery, syndication, and closure. This involves managing due diligence and paperwork closure. There are 12000+ startups and 2200+ investors on the platform. Founded by Shanti Mohan LetsVenture has enabled more than 100 startups to raise over $40mn. Since its inception in 2013, LetsVenture has facilitated over $100 million in investments. Startups like Testbook, DailyNinja, Wishberry, MyUpchar, and Ketto as part of its portfolio, have 3,700 members.

3. Saha Fund

Founded by Ankita Vashista, Saha Fund is a Bangalore-based venture capital and private equity firm. Saha Fund is India’s (and Asia’s) first venture capital fund that promotes women’s entrepreneurship and is dedicated to making investments in women-led companies across different sectors. Saha is keen on companies that use technology to scale. If you too have a startup and are looking for funding, you can watch this video by Dr. Vivek Bindra- the best motivational speaker in India: 

4. She Capital

According to research conducted by She Capital, when women business owners pitch their ideas to investors for early-stage capital, they receive significantly less – a disparity that averages more than $1 million – than men. Hence, to encourage more women to participate in the Indian startup ecosystem and take on the boys’ club in the Indian unicorn ecosystem, Founder and former CEO of Mydala, Anisha Singh launched an early-stage venture capital fund, She Capital. The company was founded with a belief to help the next generation of phenomenal female-led businesses scale to their maximum potential.

5. Qualcomm Ventures India

Founded in the year 2000, Qualcomm Ventures is the $1 billion venture capital arm of global tech giant Qualcomm, and the arm is highly optimistic about India’s technology-driven startup ecosystem. The firm believes in diversity and encourages different points of view and aims to help connect entrepreneurs to the resources, relationships, and deep industry expertise they need to succeed in the entrepreneur journey.

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

Grow Your Startup Business With These 5 Effective Leadership Qualities

Grow Your Startup Business With These 5 Effective Leadership Qualities
Grow Your Startup Business With These 5 Effective Leadership Qualities

Now and then we come across some influential industrialists talking about powerful leadership and how it can help an organization to scale and grow. A strong leader can keep his employees and teams highly motivated. But what exactly are the characteristics that make a person a strong leader? Is it an influential connection or a charismatic personality? Does having a high competitive spirit make a person a powerful leader that holds the key to an organization’s success?

Excellent leadership is a necessity for every company that wishes to grow and sustain for a longer time in the market. The ups and downs and the uncertainty of the business demand a strong vision and a compassionate heart that is quick enough to make decisions to navigate the rough waters.

There are many business coaches according to whom ‘effective leadership is also all about building up the people around you: empowering them, trusting them, and ultimately, enabling them to contribute their expertise so that the team can become more than the sum of its parts.’

So if you are thinking of taking the charge and leading your startup business in a direction where it thrives and make progress, here are five leadership skills that will help you and your team increase your company’s leadership quotient:

1. Set Clear Priorities

It is easy to get caught up in a new organization that is making continuous progress. But, one of the key roles of a leader of your company is to prioritize the important things. When you make everything important, it creates a sense of chaos amongst the employees as most of the time they feel that everything is urgent.

As a leader, you need to sort through all the distractions and make it crystal clear to the people you are working with what they need to focus on first and foremost. Learn how you can sort important tasks from Dr. Vivek Bindra in this video:

2. Empower Your Team

Good leaders are not just focused on their personal growth. They leverage the skills and brainpower of their team. They never micro-manage and instead give their team freedom and space to figure out the best way to accomplish goals and complete tasks.

To implement this in your company, you need to be more aware of the results you are aiming for. Managers often micro-manage because they have not taken the time to figure out the outcome of the process. A good leader starts with the outcome in their mind and then lets their people find the best way to achieve it.

3. Start Delegating Work

Delegation is no less than an art. As a powerful leader, you must have this critical skill to be effective and advance. Failing to delegate work to the right people will leave you engaged with operational tasks that will hinder your advancement. So focus on highly important and complex tasks. Then delegate starting with simple and unimportant and work your way up.

4. Emotional Intelligence

Great leaders often are good communicators. They have the soft skills to help others manage their way through strong emotional responses. They not just listen to what people say but also try to understand what has not been said through nonverbal and contextual signals.

5. Analytical Mind

Strong leaders also tend to demonstrate strong analytical skills. An analytical leader can take stock of a situation, consider possible paths and likely outcomes, and chart the course most likely to succeed. This skill set provides value no matter your role, and it becomes increasingly valuable the more authority a person has.

If you want to be a powerful leader, you can start cultivating this set of five skills. To gain in-depth knowledge about how to become a strong leader, you can attend India’s most impactful leadership funnel program 2.0 by Dr. Vivek Bindra. To know more about this event, register here: https://www.badabusiness.com/lfp?ref_code=FB&&pp_code=BHBB000078

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Startup

How To Avoid These 5 Common Mistakes That Cause Startups Failure?

How To Avoid These 5 Common Mistakes That Cause Startups Failure
How To Avoid These 5 Common Mistakes That Cause Startups Failure

India is the 3rd largest startup ecosystem. Though the immense growth and support for startups is a pleasant change, the hard fact is that most of the startups in India fail within 5 years of their launch, as per a report by IBM Institute for Business Value and Oxford Economics.

One major reason behind the failure of any startup is the lack of innovation. But that’s not it! Another factor that contributes to startup failure is not learning from past mistakes and repeating them. Here is a list of five common pitfalls that every entrepreneur makes at the early stages that could cost them their dream venture:

1. Not Hiring People Who Think Out Of the Box!

Many entrepreneurs hire people just like themselves. Avoiding this trap is essential to make a startup business successful. Without people who challenge the stereotypes and the founders’ thinking, a startup fails to identify new opportunities or spot risks until it’s too late.

Avoiding this trap is essential to make a startup business successful. Startups should hire people who think out of the box and know no creative boundaries. The diversity of ideas, skill sets, and backgrounds are the key essentials of every successful startup. You can watch amazing videos by Dr. Vivek Bindra- the best business coach in India to learn how to hire the right people for your organization!

2. Rushing After Funds

Capital is essential. But this does not mean that every startup should rush after it. Speed is important, yes, but without breaks, it will result only in a misadventure. Finding a balance speed to find the right fit is equally essential.

Finding perfect Venture Capital is just like finding the right partner for marriage. Take enough time to find the right match- and avoid jumping at the first or the most extensive check.

To avoid a situation like that, put in a considerable amount of time to find a VC partner that will provide thoughtful guidance, and mentorship and will be there for you during the challenges.

3. They Don’t Consider Customer’s Pain Points

Too often founders get overly enthusiastic about their ideas related to their product or service. They often believe that once they build a product, customers will come. But building a product or a service without any customer validation or A/B testing can be dangerous for a business.

Instead, founders of startups should always find an alpha customer and then create a product to solve the customer`s biggest pain point. Creating a customer-centric product doesn’t happen by just sitting around a conference table brainstorming. The idea to build an amazing product comes from seeking out and tackling the real problems in the world that already exist. If you are confused about your business growth, you can hire the best business coach in India.

4. No Go-to-Market Plan

Entrepreneurs should document a clear and concise path to their profitability. To chart this document they should conduct rigorous research and analysis that challenge their market estimates.

This requires an in-depth knowledge of the strengths and weaknesses of their market competitors. They should also determine the company’s proprietary advantage in each market segment it is looking to penetrate.

It is also important to be prepared in advance to be able to shift the business with technological advancement or according to customer needs. And while adaptability is crucial, having a focused plan is also essential. As a startup the resources are generally limited, thus, it is important to be laser-focused for maximum impact.

5. Lack of Strategic Partnerships

Many startups think about partnerships just in terms of capital and checks. But startups also require strategic alliances that will help them refine their business models, and new customers, scale revenues, and generate market awareness.

By making partnerships with large and established companies, startups can save costs on R&D resources and the expertise of their professional team.

Want to know what are the other pitfalls that entrepreneurs should avoid? Know it all from the top industry experts with our Business Coaching Program. To know more, click here: 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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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