Categories
Marketing

7 Business Marketing Strategies to Build Your Brand!

Business Marketing Strategies

Introduction

Are you using the perfect business marketing strategy for your brand?
Do you how to market your product without investing too much?

People often misunderstand Sales with Marketing; they consider Sales as a part of Marketing. However, marketing and sales are very different from each other.

Sales increase your revenue by increasing the sales of products, while Marketing works on increasing the recall value of your product.
Although Marketing supports the Sales function, it is not directly linked to it.

Marketing is an overall game plan through which your product’s value proposition and unique strength get instilled in your customer’s mind like recall value.

Below are 7 types of business marketing strategies that will help you to scale up your business.

1. Niche Marketing

Niche marketing focuses on a specific demographic, psychographic, and geographic customers. It is a kind of marketing which focuses on customers of a specific region, with one specific product of a particular price range.

It refers to selling a specific product to a specific customer at a specific price. This kind of marketing reduces the size of the market, finishes the competition, and captures the whole market.

For Example:

There are many genres of TV channels like news, sports, music, and entertainment. However, there is only one channel dedicated to cricket- Star Cricket. It is a channel-focused only on one sport i.e. Cricket. It has created a recall value in minds of the audience, that whenever they want to watch cricket they switch to Star cricket.

It reduced the size of the market by focusing on one specific sport and audience, which helped it to remove competition and capture the whole market.

2. Trade Show Marketing

It is becoming a very popular business marketing strategy for showcasing products and services among corporates. As industries and businesses are evolving, everyone from the same industry is coming under one roof to showcase their products.

For Example:

In the trade show of the Apparel Industry, all industries involved in cloth making will showcase their products under one roof. It includes manufacturers of fabric, thread, finished cloths, sewing machines, and retailers coming under one roof to market their products.

This kind of marketing helps corporate get bulk orders, vendors, clients and make new partners without big effort. You can also organize- demonstrations, speeches, and promotional offers to attract people at your stall in trade shows.

3. Social Media Marketing
With increasing digitization around the world, social media marketing has become the most important business marketing strategy example to advertise your business.

You can’t afford to miss the opportunity of advertising your products on the social media platform, as it has emerged as one of the most intensive and the cheapest way to reach out to the customers.

There are currently Rs. 45 crores active internet users in India, which is going to double in the next two years.
As per government data, there will be Rs. 84 crores active internet users in India in 2021.
Social media is the platform where customers themselves promote your product while sharing it with others, which has credibility and trust factor.

Data analytics tool gives information about who are your customers, and where are they from, which helps you to retarget and remarket your product.

4. Freebie Marketing

Among other effective business marketing strategies example is freebie marketing. Giving Freebies along with your main product in a strategic manner helps to run a successful business.

Many companies offer small freebies with their main products to attract customers and increase their sales.

Under this marketing strategy, you can offer a low-value item with a high-value item to allure customers. It helps to build a recall value for your product among customers.

For instance, you can offer a small pouch of tomato sauce with a pack of noodle, or a coffee cup on the purchase of two packs of Coffee, or a small backpack with a Suitcase.

5. Undercover Marketing
It is a hidden style of marketing which is also called Buzz marketing. Just like undercover agents, these products are kept a secret, while creating hype around it through advertisement.

Undercover marketing creates excitement among customers which sparks curiosity revolving around products, event before its official launch.

It is more like a teaser of a movie, which generates curiosity among the audience through hyped propaganda, without revealing much about it.

Moviemakers insert some social, political and religious elements in movies to en-cash the hype sparked by the controversy around it.

6. Outbound Marketing and Inbound Marketing

Outbound marketing: In this, you tell customers about your product through various mediums like Tele Marketing/Calling, Tele Shopping, Letter, and TV and Radio Commercial Ads. In this, you reach out to customers through various mediums.

Inbound marketing: In this, you have to generate magnetic energy around your product to attract customers through different ways of online promotion. Here customers automatically reach out to you through the influence of Blogging, Email, Social Media, SEO, and Webinars.

7. Cross Promotion Marketing
Cross-promotion marketing has emerged as one of the most unique ways of marketing of two or more products in a single advertisement, without investing much of energy, time and money.

In this, two or more companies come together to advertise their different products in a single advertisement through the Rub-off Effect.
Their target customers are the same but their products don’t compete with each other. It increases its customer reach without increasing the budget.

For Example:

The advertisement of BMW Car can be done with the Louis Vuitton handbag in a single advertisement as the target audience of both products is similar. Those driving BMW cars will only be using Louis Vuitton bags as both products are of premium quality.

Other Examples of Cross Promotion:

McDonald’s and Coca Cola
Pizza Hut and Pepsi
Kit Kat and Android
Apple and Amazon
Uber with Spotify

With the changing demand of customers and advancement in technology, the traditional method of marketing has become outmoded.

It is time to influence your customer base through the third party by adopting modern types of business marketing strategies.

Categories
Marketing

3 Multi-Level Marketing Strategies to Evaluate Your Business

Marketing Strategies

Introduction

  • Are you unable to evaluate your performance?
  • Do know the organizational effectiveness of your company?

A business doesn’t run by creating hullabaloo in the market. It works on proper frameworks and efficient strategies of execution.

The following given tools will help you understand 3 multi-level marketing strategies to evaluate your product, competence and organization’s performance before jumping into a big breakthrough.

1. Product Evaluation

Product evaluation is the first and foremost multi-level marketing strategy to analyze the quality of the product you are planning to launch.

Need and urgency of the product: Many times when any businessman launches a product which has a big margin, but not a big need, while some times their product has the need but their market size is very small.

Until your product is not unique enough to attract customers it is not going to increase your sales in the market. Try to understand the need and urgency of your product in the market.

For Example:
Many MLM companies without understanding market size start selling software and end up being bankrupt, as the software has no need among common customers.

Identify the uniqueness of the envisioned product: You have to make sure that your product is not similar to products already available in the market at a low price. You need to work on the uniqueness of your product, which does not exist in the market.

Repurchase: If a product does not have repurchase value in the market, it will affect your recurring revenue.
If a merchant is selling a product that is not needed by the customer repeatedly in a frequent interval, then your recurring revenue will fluctuate drastically.

For Example:
A merchant selling suit length in India will not have repurchase value as it is not a product that customers need frequently.

All global giants work on Problem Solving Product, the product which solves the burning problem of their customers

If you manufacture a burning problem-solving product, then your product will automatically be repurchased without investing in branding.

Big digital brands like Tesla, Facebook, Apple, IBM, Alibaba, Amazon, work on problem-solving products, hence they hardly need to advertise their product.
Thus, if you don’t evaluate your product properly before launching, then it will be time-consuming, expensive and disruptive for your business.

2. Competence Evaluation
Personal Effectiveness: You should have the strength to deal with failure, negative market feedback, and customer’s backlash. You should have conviction and enthusiasm to work day and night towards the success of your business.

Inter-Personal effectiveness: You need to develop a capability to influence others through interpersonal communication, which helps you handle adverse situations while dealing with people in big size projects.

Organizational effectiveness: Organizational effectiveness is your ability to influence people working with you at the senior and junior levels. This is the most essential quality a leader needs to have to run any organization. The scriptures also said about organizational effectiveness for a leader.

According to the Bhagavad Gita 3.21:
yad yad acarati sresthas
tat tad evetaro janah
sa yat pramanam kurute
lokas tad anuvartate

The above shloka in Bhagavad Gita proclaims, “Whatever action is performed by a great man, common men follow in his footsteps. And whatever standards he sets by exemplary acts, all the world pursues.”

In an organization, a subordinate follows what his leader does, but if a leader only says and doesn’t act, so will do subordinators.

3. Performance Evaluation
You can prepare a worksheet strategy to record and analyze your organization’s performance through below given 5 performance evaluation methods:

The next most important step is performance evaluation. Now you have to analyze your organization’s overall performance on the basis of effort score and result score.

Another most important multi-level marketing strategy is competency evaluation. You need to evaluate your competence to run a business on the below-given parameters:

i. No. of calls made daily
ii. No. of meetings done daily
iii. Repurchase daily
iv. No. of hiring/joining – weekly
v. No. of programs and meetings organized as an up line- monthly

On the basis of these 5 steps, write down your score on the worksheet on a regular basis and analyze your effort and result score.

Evaluate your performance on the basis of events & meetings you conduct for the organization’s effectiveness, product training, motivational training, behavioral training, technical training, soft skill training, and skill / will training for employees.

Categories
HR & People Management

How to build a high-Performance team in your organization

high-Performance team

Introduction

  • Do you want to know about a collaborative advantage?
  • Are your employees effective or ineffective?
  • Do you want to how to build a high-Performance team?

In today’s cut-throat competition most companies want to build a High-Performanceteam – a team that performs and at the same time maintains the speed.
But, the question is “How?”

So, here we will see ways to how to build a high performing team, wherein, one employee is doing the task of about five employees!

Have you Heard of Collaborative Advantage?

You might have definitely heard of ‘Competitive Advantage’. But have you heard of ‘Collaborative Advantage’?

Collaborative Advantage, in the corporate world, means forming an association for mutual benefit.

When applied within an organization, it means forging an association between the employees on the basis of their strengths for enhancing the performance of the whole team.

Competitive Advantage, without Collaborative Advantage, is not going to improve the speed and performance of your organisation.

Thus, you need to inculcate a collaborative advantage in your organisation to boost your growth, by creating a sense of inclusiveness among your employees.

“You don’t have to build the business, you have to build the right people, and they will build your business.” Henry Ford, Founder of Ford Motor Company

How Collaborative Advantage can be Achieved?

Collaborative advantage can be achieved through incentivizing the role and the goal of your employees, recognizing and rewarding their efforts and results.

This leads to the effective and efficient performance of employees.

You need a team where 1 person can do a work of about 5 people. But nowadays finding people of such caliber is becoming difficult.

Let’s discuss the ways of building and leading a high performance team.

Tip #1: Give them a Paid Vacation

One of the best ways to reward your top-performing employees is to give them paid vacation at frequent intervals. Send them on vacation on the company’s expenditure.

It will not only boost the morals of top performers but also inspire others to improve their performance to get rewarded.

“Anything that is appreciated gets repeated.”

Tip #2: Give them Trophies and Certificates instead of Cash

For building and leading high performance team, do not give cash awards to your performing employees as it is short-lived.

Instead, reward them with trophies and certificates on a public platform. It remains imprinted in their minds for a long time.

Prepare HR policies for Trophies and Certificates.
Prepare a set of the parameter for giving awards and trophies as per the role and goal of employees.
Write down the rewards against each goal and put it on the bulletin board.
Make ways to appreciate them publically.

Tip #3: Coffee with the CEO or Lunch with the Boss

You can reward the Star Performer of the Year by arranging a coffee with the CEO of the company or a lunch with the boss.

You can take a picture with him and frame it on the bulletin board.

This will not only pump him with delight but will also motivate others to work hard to achieve the treat.

Tip #4: Photo-Video Case Study of a Star Performer

Make a testimonial, short videos, and videos depicting the appreciation of Star Performer by all the employees. Now, club it together to make a case study.

Once done with this, share the case study in all the groups and on social media handles of the company. This will make them feel good. They will repeat the same effort for the same or better result.

Once you start incentivizing the effort with the result, the complete culture of the office will change and speed will increase.

Tip #5: Star Performer to Represent the Company

Whenever there is any kind of reward, award, and recognition being given to your company, let the Star Performer represent your company, and

Let them take the award.
Make them shine in public meetings and social gatherings.
Let them speak on these public forums.
This will not just boost them but also the others.

Tip #6: Incentivize 100% Attendance, Punctuality or consecutive 90 days Presence

If someone is coming before time or has a 100% attendance for 90 days, he/she should be incentivized with gifts and cash.

This will make people realize the importance of time and they will also come on time.

Always remember, “To build a good intellectual capital and financial capital you need to have a good human capital.”

Tip #7: Loyalty and Ownership Award

If someone saves the company from any kind of money theft, betrayal, or financial damage then he/she should be awarded.

And if you start rewarding the loyalty and ownership of one person, the others will follow the suit.

This will increase the speed and enhance the performance of the other employees as well.

Tip #8: Praise in Public and Correct in Private

This is the most important tool of building and leading a high performance team in an organization. If someone is doing things out of the box or is giving his efforts in doing too good for the company, praise him in public.

Let everybody know about his work and his efforts.

Motivate him and help him in eradicating the problem once and for all.

Never correct your employees in public but in private. This will boost morale.

Tip #9: Recognition for Improvement in Cost, Quality, & Customer Centricity

Incentivize the employees who help the company in reducing its cost and increasing its quality, customer satisfaction, and positive cash flow.

Recognize them for taking new initiatives for the growth of the company.

Tip #10: Performance Linked

Send your Star Performer on monthly party outings; send them to watch motivational movies, sports events, celebrations and much more.

These are several steps of how to build a high performing team by which you can incentivize the Star Performers and influence other employees to raise their productivity.

Categories
Business Case Studies

How E-Commerce Marketplace is Redefining the Industry?

E-Commerce Marketplace

Introduction

  • What is E-commerce Marketplace?
  • What are its advantages and disadvantages?
  • Are you planning to take your business on the E-commerce platform?

India is the 3rd largest E-commerce market in the world after China and the United States of America, and in the next few years, e-commerce marketplace in India is set to surpass that of the USA.

What is E-commerce and How it Grows

It is the most innovative way of doing business without establishing any physical store around the world. It has seamless potential to “expand your business as swiftly as never before”.

E-commerce marketplace is an online platform to sell products to customers all over the world without any physical barrier around the clock.

It not only increases your sales but reduces cost drastically.

It helps you in:

  • Fast selling of goods and services.
  • Reach out to a huge customer base.
  • Less investment in marketing and sales promotion.
  • Fast supply chain and electronic funds transfer mechanism.

Advantages of E-commerce Marketplace Services

1: Engage with your Customers
With more and more people coming on an online platform, your presence on the internet “builds a healthy relationship with customers”, which imbibes trust among them towards your products and services.

2: Windfall Gain of New Customers

In the traditional business model, only selected people, who know you personally or who reside in the vicinity, purchase from your shop, while on the online market platform “the whole world is your market”.

Today, anybody can purchase your product from any corner of the world on figure tips.

3: Saving on Operational Cost

Here, the whole business is built on “web management system” with automatic inventory calculators, which “saves your cost on manpower”.

Now, you don’t need teller, accountant, and office building to accommodate your business.

4: Data-Driven Selling

In the traditional business model, you are unable to understand the needs of your customers.

However, in the online market place, you can understand the buying habits of your customers through data-driven traffic.

5: Digital Branding is Fast and Cost Effective

As compared to TV, Radio, Print adds, digital branding is fast and cost-effective.

You just need to “develop your digital marketing team” to beat big brands.

6: Digital Sales Pitching vs. Physical Sales Pitching

There is a greater chance of human error in the sales mechanism of the traditional business model; while in digital sales pitching you can give perfect information without any error.

The online platform provides an opportunity to “showcase products with unlimited details and visual presentation”.

7: Re-Marketing and Re-Targeting in a Boundary Less Market

It’s a barrier-free market where a person can visit anytime, anywhere even if he/she doesn’t intend to purchase a product.

The online market place is so efficient that even if a customer doesn’t purchase your product, you can “re-market” and “re-target” your products to that particular customer through various Google tools and increase your visibility.

But it is not possible at physical stores.

8: 24/7 Potential Real Income

A physical shop cannot remain open for 24 hours, while the digital platform is available 24 x 7, where customers can buy products any time from any place.

9: International Profitable Scalability

You can expand your business seamlessly at lightning speed across the globe through an E-commerce marketplace.

You can increase your profit as you can decide your margin and scale-up it without opening a physical store.

10: Affordable Employees and Affordable IT Infrastructure

The online market place doesn’t need an actual office as it can be operated from a virtual office.

You can engage people from any corner of the country through a virtual office, without investing heavily on salary, office and administrative cost.

11: Fast Order Processing Despite Huge Market Place

A physical store has limited capacity to accommodate customers at a single point of time, but in E-commerce, you can attend any number of customers simultaneously.

Moreover, people have the tendency to purchase from big market place instead of a small physical store with limited choices.

Challenges in E-Commerce Marketplace

1: Site Crash

Due to technical problems and external attacks, your website can break down anytime during a transaction, which may affect your business and customer base.

2: Customers can’t try before they buy

Before buying a product, a customer wants to try it physically which is impossible on an online platform.

This problem can be resolved by showcasing your product through graphical and visual presentation.

3: Customer can be Impatient if there is Limited Information

At a physical store, customer can ask as many questions as he wants to know about a product before buying, which has been a shortcoming of the online marketplace.

4: Shipping Delays can be Irritating

Many times online market place suffers a delay in shipping due to the logistic process or unavailability of products which leads to a decrease in customer satisfaction.

5: Constantly Upkeep Technology and Inventory

An E-commerce marketplace should have constant up-gradation of software to make the shopping experience more smooth and convenient.

6: High Competition, Low Margin, and Marketplace Fee

Many times you need to decrease your margin profit due to high competition. You also have to pay a fee to marketplace on the sale of products.

7: Limited Control in Other’s House

Here, you have little control over e-commerce marketplace services as your products are sold by someone else’s platform.

Categories
Finance Process & Business Expansion Startup Strategy

Emergency Credit Facility Under ECLGS for Small Businesses Hiked From Rs 25 Crore to Rs 50 Crore, NCGTC Modifies Operational Guidelines

MSME (Photo Credits:
Emergency Credit Facility Under ECLG for small businesses hiked from Rs 25 crore to Rs 50 crore by NCGTC. | Representational Image.

New Delhi, August 12: The National Credit Guarantee Trustee Company Ltd (NCGTC) on Wednesday issued a circular regarding the modification of operational guidelines for Emergency Credit Line Guarantee Scheme (ECLGS). The common trustee company informed that the new operational guidelines will now cover individuals and more enterprises amid the COVID-19 pandemic.

Informing about the minutes of the modification of operational guidelines for ECLGS, the NCGTC stated that the upper ceiling of loans — outstanding as on February 2, 2020 — has been increased under the scheme from Rs 25 crore to Rs 50 crore. Apart from this, there has been a hike in the upper ceiling of annual turnover from Rs 100 crore to Rs 250 crore. This has been done in line with the increased ceiling of loans outstanding and revised definition of MSME issued by Union Ministry of MSME.

Among other details, the NCGTC circular stated that there has been an increase in the maximum amount of NCGTC to Member Lending Institutions (MLIs) under the ECLGS. The amount limit has been raised from Rs 5 crore — at present 20 per cent of Rs 25 crore — to Rs 10 crore, which is 20 per cent of Rs 50 crore. However, it has been made clear that those individual loans given for business purposes should fulfil the eligibility criteria prescribed under the scheme.

NCGTC Circular Regarding the Modification of Operational Guidelines for ECLGS:

Earlier on May 23, 2020, the NCGTC was set up by the Ministry of Finance’s Department of Financial Services as a common trustee company to manage and operate various credit guarantee trust funds. It was incorporated under the Indian Companies Act, 1956 on March 28, 2014, with a paid-up capital of Rs 10 crore.

Under the NCGTC, five trust funds currently operate:

1) Credit Guarantee Fund for Skill Development (CGFSD
2) Credit Guarantee Fund for Education loans (CGFEL)
3) Credit Guarantee Fund for Factoring (CGFF)
4) Credit Guarantee Fund for Micro Units (CGFMU)
5) Credit Guarantee Fund for Standup India (CGFSI)

The NCGTC was launched ECLGS on May 23, 2020, for all the financial institutions of India. Among the four key points, which differs it from other schemes include — 100 per cent credit guarantee, zero guarantee fee for banks and customers, pre-approved loans and minimum bank’s risk weight allocation. However, the scheme will continue till October 31, 2020, or till the time Rs 3 lakh crore of the loan amount is sanctioned. The NCGTC has also made it clear that borrowers must be GST registered wherever it is necessary.

Categories
Startup Strategy

Startups From Home: 5 Business Ideas to Start From Home Amid COVID-19

Startup (Representational Image Only, Photo Credits: NeedPix.com)

Mumbai, August 12: The entire world is reeling under the effect of coronavirus, from businesses being shut, factories non-operational, to employees being handed over pink slips. The pandemic has bludgeoned economies worldwide, and the smallest of businesses have felt the heat. In a scenario, when thousands have gone jobless, we take a look at five business ideas which you can start from the comfort of your own home amid the coronavirus pandemic.

The best part is that these business ideas will require a minimum to no investments. So if you are wondering to start a business from home, here are a few ideas which you can consider.

Sale of Masks, Gloves, PPE

The demand for masks has skyrocketed after countries across the world said that it is an important preventive measure to curb the spread of COVID-19. In India too, all the states have imposed a strict fine in order to ensure that people are abiding by the rule. From being sold as a fashion accessory to a life-saving piece of safety equipment, there is a huge demand for selling masks.

In such a scenario, there is an opportunity, if you want to start a business dealing with the sale of masks, gloves, PPE suits or hand sanitizers.

Remote Tutor

As a result of the coronavirus pandemic, when schools are shut, students are facing the problem to complete their syllabus and struggling with doubts. Here lies a great opportunity for home tutors who can continue to teach their students from home via online classes. One just needs a good internet connection to start with online teaching.

Fitness Trainer

The pandemic has taken a toll on our lives, with additional workload both at the office and at home, people are being stressed. On top of it, fitness centres at several places continue to remain closed. If you are a fitness trainer, then you can start your online classes, be it yoga, power yoga or meditation from the convenience of your home.

Cooking Classes

There has been a huge demand for online cooking classes ever since the lockdown. Your friends, family members, office colleagues have all been experimenting with different dishes and have been putting it up on social media. Amid the coronavirus induced lockdown when people are still hesitating to go to restaurants, they have been making most of the dishes on their own. From experimenting with new cuisines to trying out new ingredients, there is a huge demand among the people to learn quick and healthy dishes.

If you have a knack in cooking or an expert in this area, there is a huge opportunity for you to start with your online cooking classes.

Freelance Writing and Copyrighting

You can take up freelance writing and copyrighting projects. Initially, the payment can be low, but once you build your own portfolio of work, you can start demanding a premium for your service.

So if you want to start something on your own, don’t delay your plan. These are some business ideas which you can start from the comfort and the convenience of your own home today amid the coronavirus pandemic.

 

Categories
Process & Business Expansion Sales Startup

Steps Taken by Modi Government to Give Relief to MSMEs, to Accelerate the Wheel of Economy That Slowed Down Due to Lockdown

Business in India | Representational Image Only (Photo Credits: Pexels)

The government has said that the recent steps that it has taken are aimed at giving relief to MSMEs which will in turn accelerate the wheel of economy in India. Union Minister for Micro, Small and Medium Enterprises Nitin Gadkari, during a webinar said that the changing the definition of MSMEs, Scheme of Fund of Funds, Champions portal, extended credits to MSMEs will certainly accelerate the wheels of economy which had slowed down due to lockdown in the wake of the coronavirus pandemic.

During his address, Gadkari informed that loans of about Rs 1,20,000 crore have been disbursed to MSMEs out of Rs 3 lakh crore announced in the relief package. Discussing about the problem of delayed payments, he said that instructions have been given to all Ministries, Departments and PSUs to clear pending bills of MSMEs within 45 days. He also urged all Chief Ministers to issue directions for clearing MSME dues by their State/UT Ministries/Deptts and PSUs on priority. The Minister added that we are closely monitoring the complaints lodged at SAMADHAN Portal also.

Gadkari said this while addressing a Virtual MSME Conclave organized by FICCI Karnataka State Council. The Minister further appealed to all the stakeholders to do away with all kinds of fear and negativity and assured that government is doing everything possible to make the country a super economic power. The Minister informed the participants of the webinar that we are working on the idea of a Land Bank and Social Micro Finance Institution which will be very helpful for entrepreneurs and persons who want to run small shops and businesses.

While discussing Atmanirbhar Bharat Abhiyan as envisaged by Prime Minister Narendra Modi, Gadkari said that handloom, handicrafts, khadi industries and agro-based industries should be encouraged especially in 115 aspirational districts in India. He said planning will be taken up for special policies for agricultural, rural and tribal sector because they have huge potential of creating employment.

Categories
Finance Process & Business Expansion Startup Strategy

Innovative Ideas for Entrepreneurs to Keep Restaurant Startups Rolling Amid COVID-19 Pandemic

Apart from unique challenges, the COVID-19 brought fresh opportunities for India in the hospitality and allied sectors. Here are few ideas which entrepreneurs in restaurant startups can try to keep their businesses rolling.
Innovative Ideas for Businesses

Mumbai, August 11: With almost five months out of business due to the coronavirus lockdown, one of the worst-hit sectors in India is the food and restaurant businesses. While many startups opted for innovative ideas, others failed to survive the lockdown. India’s lockdown against COVID-19 is considered to be among the toughest, however, relief measures given by the central government did keep the hope alive.

Apart from unique challenges, the COVID-19 pandemic brought fresh opportunities for India in the hospitality and allied sectors. Many startups succumbed, but few thrive as they looked for a window to keep their businesses running. Use of social networking and personal relations still make those few reaping profits in adverse market conditions.

Here Are Some Ideas Which Helped Small Restaurant Businesses Survive:

1) Use of Social Media:

During the lockdown, the biggest challenge for a restaurant business is to connect with their customers. Social media became a boon for all those startups who remained in contact with their valued customers. Be it Facebook, Whatsapp, Twitter, Gmail or Instagram, these social media apps helped the small entrepreneurs to keep their businesses running.

Apart from providing the latest information regarding the renovations in restaurants to take away services, people came to know it from social media only — if their favourite dining places are open or closed. Also, updating the precautionary measures taken by the firm to keep its customers safe, did make a lot of difference.

2) Adaptations and Collaborations:

Adaptation to norms and guidelines issued by the administration did play a great part for startups. For example, Chaayos — which started in 2012 — joined hands with another influencer marketing platform called Pulpkey. Apart from serving the ‘signature “Meri Wali Chai“, they also decided to create awareness among people. For this, they hired renowned content creators and influencers and started sharing quality content straight to the customers’ mobiles via social media. Hence, Chaayos is still serving the ‘chai drinking nation’ with the same zeal and love.

3) Takeaway and Door-Step Delivery With COVID-19 Protection:

Foodies anywhere are foodies. Be it rain, dawn, dusk or midnight, foodies will order food online. However, the COVID-19 stopped the wheels of food-delivery guys for some time. Business took a hit and many wrapped up their shops.

With the Unlock guidelines issued, the wheels started to roll and food-delivery was again back on track. This time, the food delivery system was a little different. First, the delivery guys maintained a 6-feet distance and secondly hygiene maintenance was observed very strictly. The result was small entrepreneurs in the hotel business managed to survive. Special mentions to food warriors of Swiggy, Uber Eats and Zomato.

4) Marginal Charge for Hygiene:

This is something that customers in India don’t like. Since lockdown is in place and sit-in dining is almost restricted in most places, charging extra for take-away to door-step deliveries — by asking customers to pay for hygiene practices — may take not be a welcome move.

However, making valuable customers understand the importance of hygiene practices and costs associated with it, the gesture might help. These days customers are well aware of the dangers of COVID-19 and are willing to pay extra to cleanliness and hygiene. So looking at the broader prospect, the idea of charging a marginal fee for cleanliness may help entrepreneurs to keep their business functioning.

5) Financial Management and Revenue Generation:

Among all the other factors, the utmost requirement is to keep the startup moving forward with proper financial management skills. Due to the COVID-19 revenues of almost all food-allied entrepreneurs declined, some even bailed-out too. But few are still sustaining and may sustain for long as they have ample revenues for it.

For those, whose revenues are crippling and businesses are on the verge of shutting down, one of the easiest ways is to reach out to banks — which provides loans under MSME schemes at nominal interest rates and easy instalments. Reaching out for funds to family members and friends is another good idea.

6) Patience and Perseverance:

Difficulties and challenges are part of startups. COVID-19 may have seized the business ideas and expansion, but what’s important is entrepreneurs shall not lose hope and patience. They should keep inventing innovating ideas and persevere to reach their goals. Things may take a little time, but with calculative risks and patience, the flower of success will bloom.

Categories
Powerful Personalities

The Best Sales Trainer In India

Learn How to Sell with the Best Sales Trainer in India.
Is it mastery over soft-skills or years of experience, or is there any other magic mantra to be the best sales trainer in India? Let’s dig deeper and find out how the top sales trainer in India teaches.

Businessmen these days have realized the importance of getting a sales trainer in their company. Companies may hire the best marketers, best IT personnel, top-notch managers, and eventually get the best product but, what good is the product if it is not getting sold? Sales professionals do try their best, but mere hard work cannot beat experience and sheer skills. That’s where a sales trainer comes into play.

Many studies have shown that only a few changes in the sales process, a few tricks in the conversation, and better soft skills can increase sales by many folds. This, in turn, not only boosts the morale of the whole company, but it also increases the resources available to make products better in the future.

Now that we have realized how important it is to boost sales, the question arises; how to do it?

Businesses spend money on hiring the best sales professionals who can deliver in real-time. But the competition in the market doesn’t give these sales professionals leisure to experiment with their methods and make their sales techniques better. What else is the option for businesses other than get a top sales trainer in India?

Though one can find many professionals, it is important to note that not all of them provide the same value. It takes a keen eye to choose the best sales trainer in India amongst a herd of many. What if that is not your expertise? What if you don’t know how to select the top sales trainer in India?

Do not worry. We have curated a list of characteristics that every best sales trainer must-have.

Characteristics that every top sales trainer in India must have:

1. Less Theoretical, More Practical

The one major difference between sales and other fields of businesses is that sales are more practically oriented. One cannot make sketches, write essays and build graphs to make a possible trajectory of how much sales a company is going to do in real-time.

For that, the company has to jump in the market and transact with real people. And that sums up why a top sales trainer in India must be less theoretical and more practical.

What good is a lesson in sales if the sales professional cannot apply its teachings with clients in meetings? Can a company make money if its sales professionals just sit in a closed room and write down how much money they will make?

A best sales trainer teaches in his class how to apply theoretical models in practical deals. Not only does it make the process easier for sales professionals, but it also reduces the period in which sales are done.

2. Guts To Experiment

As mentioned before, because they have to meet certain goals in a specific period of time, sales professionals can’t experiment with their techniques. However, a sales trainer doesn’t always have to meet goals the conventional way, he/she has the freedom to experiment with what others can’t do.

If a trainer always goes by conventional wisdom, he may teach how to get good sales done. But to get exponential growth, experimentation and using unorthodox methods is very necessary. If you find a sales professional who experiments with different sales techniques, chances are that person can be the best sales trainer in India one day.
3. Relatability Factor

Usually, a sales professional teaches various sales techniques by giving examples. But, what good are those examples if the sales professionals can’t relate to them?

Dr. Vivek Bindra, who is well known as the top sales trainer in India, always uses examples to get his point across easily. In these case studies, he considers real-life companies like Google, Facebook, Uber, and Oyo so that people can relate to the issues at hand.

4. Experience

Team meetings, seminars, and webinars are all good, but nothing can beat experience in the field. A best sales trainer must have years of experience in the market.

The only source of knowledge is experienced,’ when the famous scientist Albert Einstein said this, he may not have in mind that his words would benefit not only science but business, even after decades.

5. Teaching Method

Sales trainer’ is made up of two words: sales and trainer. We have seen that expertise in sales is a must-have, but we can’t ignore the ’trainer’ part.

A person may have years of experience in the field and a good reputation for making sales, but he may not necessarily be a good trainer or teacher at the same time.

A good trainer must know how to turn complex models into practical and doable tasks. He must also know the weak spots of his trainees and how to convert those weak spots into their strengths.

6. Keeping up-to-date

Old school sounds cool in the area of fashion and music, but when it comes to business, it can prove to be a menace for a company’s bank balance.

Keeping up-to-date with the latest trends in the market is the least talked about quality of a trainer. Sure, one can have decades of experience in the field, and some really good teaching methods. But an old fancy typewriter cannot beat a 21st-century computer!
Almost every business technique today is inclined towards digitalism. So, if you find that any trainer has no social media and online trail ’ it’s a big red flag. Taking the example of Dr. Vivek Bindra; he has a very strong presence on every social media platform. From a personal YouTube channel to an online business platform, he remains updated with the current trends of the market.
Any sales trainer in India knows how fluctuating the market is. So, staying updated with the current market trends is underrated, but at the same time one of the most important characteristics.

7. Quick Learnability

Last but not the least, the best sales trainer in India ’ in fact in the whole world ’ must be a quick learner. Forget about the field, sometimes even the trainees come up with questions in the training room that no one has heard of before. What can a trainer do in such a situation?
If one is a quick learner, the possible solution can be found out at the very same moment and place. But if you’re not a quick learner, you will fall flat on your face.
Also, live examples of quick learnability and adaptability shows how sales professionals should come up with solutions while doing sales or business on the ground. Every business theory is molded in some way while being used in the marketplace. If a sales trainer won’t teach quick learning skills to the trainees, there are high chances that all the theories will fail.
Enough talking about the characteristics of a professional sales trainer! Now, let’s talk about how the best sales trainer can help you in your business. What exactly do trainers do?

Here’s the list of 5 things that every sales trainer in India does regularly.

Orientation for Newcomers

Though the basic logic remains the same, the sales process differs for every company, every market, and every niche. If a sales professional comes from another company or market, a trainer conducts an orientation for the new sales processes.

If a new joinee has some ideas from the previous organization, a good sales trainer does not hesitate from learning and incorporating them into the current business. Flexibility, as we have discussed, is one of the most important characteristics of a good sales trainer.

Analysis of Sales Reports

Though this task is also done by subordinates, no one can replace an expert. A good sales training specialist will see the sales report and analyze the ups and downs in it. Not only does it require good solid practical experience, but also theoretical knowledge of big data analysis is necessary for the job.
With a detailed result of the report, the sales professionals are then briefed on what is working and what is not.

Improving the Effectiveness
After analyzing the quarterly, half-yearly, or yearly sales reports, if the trainer feels that a specific approach is working well in the sales process, he will then improve that approach so that it can deliver even better results. The same approach will be improved until it reaches a saturation point, where it can’t give any better results.Instead of a random Hit and Trial, an expert can improve sales by improving the already working methods.

Soft Skills Training
Though their niche is very specific, sales trainers in India are trainers in any case. So, when they are not doing job-specific tasks, they also teach soft skills to sales professionals.
The most famous Indian sales & motivational speaker, Dr. Vivek Bindra once said this about sales & soft skills, ’You can’t convince people by convincing; you convince people by connecting!’ Coincidentally, sales training specialists teach both of them to the trainees. No matter how much you teach your employees soft skills, there can be no such thing as too many soft skills.

Meeting Financial Objectives

If the financial goals of a company are not met as per plans or the deadline, the accountability of that falls on the shoulders of the sales professionals. And if sales professionals fail to do their task, guess who is responsible?
A top-notch sales trainer will make sure that if the financial objectives of a business are not met, then the sales approach is completely changed. Older methods are scrapped and new ways of sales are to be found in such scenarios.
What can be concluded about a job whose work is ever-changing? The methods are ever-changing; the goals are ever-changing, and even the title of the best sales trainer in India is changing. But the only thing that is not going to change is the need for a top sales training trainer in the country.
In a country like India where the local corporate market is showing a path to the world, where the competition has become fiercer; it’s important to have an exceptional sales training professional. So much so that it won’t be an exaggeration to say that every company needs a sales trainer as much as it needs a CEO.

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Powerful Personalities

The Best Business Trainer in India – Why You Need One to Grow Your Business Faster

Why is a business trainer critical for your business growth?

Regardless of whether you are running a little neighborhood business, or hoping to fabricate an overall organization, the advantages of business training can’t be exaggerated.

Maintaining a business can often feel like a singular interest. Like with most things throughout everyday life, having a good business trainer that you can depend on is one of the most significant assets accessible to entrepreneurs. While there’s a lot of information and guidance accessible online on the most proficient method to begin and grow a business, every last bit of it is common, conventional and not explicit to your one of a kind business. A Business trainer, then again, can give something unquestionably and increasingly important ’ customized, custom advice.

What can Business trainers help you with?

Most business trainers are flexible in the administrations that they offer, implying that whether you need to resuscitate a battling business or make an effectively fruitful business scale considerably, or whether your business is local or global, a gifted business trainer will have the ability to help you. There’s a typical discernment that business-instructing trainers exist just to assist business owners with battling or fickle organizations.

While getting them back in good shape is definitely one thing a mentor can help with, there are wide assortments of different circumstances where mentors can help business owners also.

Business mentors can help construct a business starting from the earliest stage, prompting administrators and business owners as they experience the way towards setting up their business, characterizing its crucial objectives, and setting up both long haul and transient procedures for the company.

Moreover, business trainers in India like Dr. Vivek Bindra
can help entrepreneurs grow post they have hit a level in their organization’s development ’ as they need a bit of hand holding on how to take their business to the next level.

Alongside improving the efficiency and further development of a business, such mentors are ready to carry a portion of the weights on business owners ’ to make their executions simpler and increasingly agreeable.

While maintaining your own business can be fulfilling, there’s no denying that at times, it can be stressful and distressing as well. This is doubly obvious, if you are running a whole organization completely, all alone.

At the point when you work with the best business trainer in India, however, you will have somebody in your corner, who can help you through the difficulties you will unavoidably face and fill in as a wellspring of experience and ability that you can depend on when difficulties arise.

Why a business owner needs the expertise of a business trainer: –

  • A Business trainer makes a roadmap to achieve your objectives 

What empowers CEOs of enormous and exceptionally effective companies to drive stellar outcomes year after year? What separates effective pioneers from the remainder of the pack? What do heads, overseeing executives, and other senior pioneers in these organizations do differently that leads to exceptional results? Working with the best business trainer in India is a key fix to solve this equation.

The Business trainer normally works with the CEO and different pioneers in the organization, helping her/him characterize targets and objectives ’ either close to home or for the business. A trainer additionally makes a guide to accomplish the objectives and mentors the leader or pioneer responsible for those activities.

  • Training provides an environment based on confidentiality

While the idea of training itself may sound basic, the genuine intensity of the methodology depends on what the business trainer brings to the organization environment.

Instructing is a confidential endeavor. It is a non-critical methodology that is dependent on undivided attention and increasing the abilities of the trainee.

Such a situation is normally not visible to a leader inside the organization, not for the absence of a goal, but difficulties in a hierarchical plan, execution pressures, and an intricate and dynamic market in which globalization might have a significant influence.

Let’s see what the best business trainers in India can do for your employees

  • Improve Employee Execution:

This intensive training gives the worker a much better comprehension of the duties and responsibilities of their job and increases their certainty, consequently empowering them to perform better in their jobs. Motivated workers help your organization approach any situation as industry leaders.

  • Improve Employee Fulfillment:

Investing in a training program shows that the organization values its representatives. Business training definitely helps in making a positive impact in the work environment. Training programs by the best business trainers in India empowers your representatives to feel acknowledged and tested ’ causing them to feel progressively fulfilled.

  • Empower Unwaveringness:

Employees will be more faithful to your organization if you show consideration for their self-awareness and improvement; regardless of how little or enormous your team is. According to a study, 35 percent of representatives feel that expansion in hands-on training and advancement or promotions in their job is a solid motivation to remain faithful to their organization.

  • Tending To The Shortcomings:

The business training programs permit representatives to resolve their shortcomings in their work environment. The business training program results in workers with improved aptitudes and abilities. Giving your employees the best training leads to a much more empowered staff, who can take care of each other as and when required, work with a group or even work autonomously. Subsequently, there is no requirement for continuous supervision.

  • Better Consistency:

An employee will build a strong foundation, with a strong business training program, which will result in more consistency. Consistency is the key step to more efficiency.

  • Expanded Profitability:

When the organization employees complete a training program, efficiency always increases. Better efficiency can bring about better outcomes in different ventures and as a consequence, improve the organization’s profits.

  • Better Advancement:

The business training program results in the upskilling of your workforce, empowering them with better innovativeness and development. Your representatives will have the option to think of new thoughts for your business systems with the assistance of such business training programs.

  • Decreased Worker Attrition:

When you put resources into training programs that advance and empower your employees, they will feel more valuable, loyal and motivated! These training projects lessen the desire of your workers to switch jobs, and as a result, this decreases enrollment costs and hassles.

  • Better Organization Reputation:

When an organization offers training and advancement projects to its workers, it turns into a no-brainer decision for graduates and other interested people to join your organization. Such business training programs cause your organization to be more appealing to youngsters, who are looking to improve their abilities and awaiting new chances to use their creativity, innovations and fresh ideas.

When an organization offers growth, new learnings and supports a culture of continuous improvement, it consequently pulls in new and fresh talent. Business training and improvement can significantly affect an organization. Harnessing the employee’s full potential, which leads to substantial outcomes for the business ’ ought to be the focus of such training programs. Business training ought to be treated as a fundamental aspect, much the same as every other part of your business. Bada Business and Dr. Vivek Bindra (The best business trainer in India) offer many such programs in different fields, including leadership management and CEO coaching to help entrepreneurs grow their businesses.