Categories
Powerful Personalities

The Best Corporate Speaker in India

The Best Corporate Speaker in India
The Best Corporate Speaker in India

Do the Best Corporate Speakers have the power to alter a Company’s fate?

From understanding the benefits of hiring them to know what makes them powerful; here is everything you can learn about the best corporate speakers in India.

The best corporate speakers don’t just talk; they have such a unique way with words that the audience can’t help but take action and feel motivated with the wisdom the speakers pour out through their speeches.

In the past few years, the competitive nature of the corporate world has grown exponentially. No matter which sector it is, millions of people are striving hard to reach the top. Not just this, even those who stay at the top have to go the extra mile to make sure they hold their position for a longer time. But all these challenges take a toll on their spirit.

Be it the employees or the employers, everyone seeks out motivation to heal their confidence and reach for better goals. That’s where they need the best corporate speakers.

Nowadays, many established firms invite some of the best corporate speakers in India to ensure that their teams feel encouraged and empowered. They don’t just pump up the company’s morale, they also drive their productive action.

The best corporate speakers understand their audience and help them in staying away from detrimental habits and inspire them to accomplish their dreams. But the advantages of corporate speakers don’t end here.

Here are the top three benefits why one must bring a corporate speaker for theit employee events:

  • Changing The Perspective

At times, it is not about a person’s ability to get motivated that becomes an obstacle in his growth, but the inability to see things from a different perspective that make him fall behind. The best corporate speakers work on that special nerve and help people in perceiving things differently.

This approach can magically turn challenges into opportunities. People can start breaking complex situations and come up with easy and doable solutions instead of pondering over the dark times. When a person is rich in perspective, even little inspiration can work wonders in building upon the potential.

  • Improving Employee Engagement

“You can’t convince people by convincing, You convince people by connecting!” — says Dr. Vivek Bindra,

one of the best corporate speakers in India. You can’t just talk about inspiration without connecting with the people, especially in the corporate world.

 

A company can never reach true success if its employees don’t feel connected to its vision. Most of the best companies in the world make sure that their employees improve consistently through proper training and sessions. And having events where the best corporate speakers in India interact with them is a sure-shot way to engage the employees with knowledge and leadership. This, in turn, boosts their motivation and increases productivity at both professional and personal levels.

  • Re-aligning the Goals and Vision

Unfortunate accidents happen when vehicles follow the contradictory path. The same goes for a corporate firm that ends up miscommunicating its ideas and falls apart from its goals and vision. Such inconsistencies hamper growth and lead to stagnation.

The best corporate speakers understand this phenomenon. They identify the goals and trajectory of the firms and help in re-aligning those objectives clearly across the organization.

Characteristics of The Best Corporate Speakers

Just knowing how a corporate speaker can fuel the business is not enough. One must know how to spot the best one. For that, it is vital to understand the characteristics of the best corporate speakers.

  • The Polymath

Have you ever thought about how corporate speakers can talk for hours without running out of ideas or feeling clueless even for a while? Knowledge and expertise are the reasons behind this impressive characteristic.

The successful corporate speakers are well-informed individuals, who have a stronghold on their field. These are scholars who have gathered many pearls of knowledge during their rich experiences. Some of the best corporate speakers in India are even authors who have written plenty of books on motivation and have international experience in delivering corporate speeches. Dr. Vivek Bindra, who has been a visionary in the corporate world, has authored 10 high power motivational books and inspired millions of people across the globe.

  • Personality That Speaks

It is not just their words, but also their personalities that has a great impact on the audience. The best speakers have a lively, friendly and positive personality that helps people in connecting more with them. However, this characteristic is often confused by some to be intimidating.

The correct way to understand this is that the speakers must be authentic. He/she should believe in the message being conveyed. And once there is the alignment of thought and nature, the personality of the corporate speaker speaks for itself. They stay true to their nature and make the session more interactive and learning-oriented.

  • Confident Orator

Another essential trait in the list is eloquence and confidence. A good grasp on the words increases confidence, which in turn, makes one a great speaker. When a corporate speaker oozes with confidence, the listeners can’t help but feel a strong liking and this improves the faith factor. This fact is even backed by researchers!

According to a study published by the University of Wolverhampton; “A highly confident speaker is viewed as being accurate, competent, credible, intelligent, knowledgeable, likable, and believable than a less confident and uncertain speaker.”

  • In Sync With The Industry Dynamics 

Change is inevitable; more so in the corporate world. Therefore, corporate speakers are always in sync with the industry dynamics. They lead with their fluid ideas that match the needs of the sectors.

The top corporate speakers keep a track of the latest trends, the changing challenges and intriguing solutions that further help them in catering to their target audience with the best advice and lessons.

  • Fuelled With Passion 

Though last, but certainly not the least is Passion. Without this, it is next to impossible to hold an interesting conversation about a subject. Attend events of the best corporate speakers in India and their speeches are filled with passion for their profession.

They exude a high level of sincerity, such that the audience feels an instant connection. This passion is easily visible in the way they present their speeches — be it modulations in the voice or speaking through their body language.

In conclusion, the best corporate speaker is someone who doesn’t just offer the right guidance to corporate firms, but also becomes their business guru, providing concrete lessons and tools for further growth.

Categories
Strategy

How to Avoid the Risks faced by Small Businesses

How can a small business reduce internal and external risks?
Our economy is largely dependent on small businesses as these companies work in producing services or raw material for big brands. Running a business is not a child’s play. A lot of hard work and sweat goes into building a secure business entity. There can be many risks in business, such as the risk of capital, the right manpower, economic slowdown, and even natural calamity. So before setting up a business, every company should pen down the proper planning of their workflow, which affects overall operations because of these external and internal risks. Not doing this could bring the business to a gradual decline.

Factors that affect small businesses to survive in the market:

Internal Risk
Internal Risk is controllable in nature which derives from an improper execution of business plans. There are always some factors leading to internal risk in any company, so how can one overcome it?
1. Risk of Capital
For a small business entity, it is not easy to survive in a highly competitive environment. The risk of going out of business is always at stake.

  • Regular in-flow of funds either quarterly or half-yearly can help the business be ready for any unfortunate situations and to overcome the risk of losing capital.

2. Right Manpower
Finding the right person for the right job is a lifeline for all business ventures. If the key employees leave or cannot perform their duties, then your business could fail, particularly in small businesses that cannot offer attractive salaries and job stability.

  • Small businesses don’t require highly experienced people on the job and there is always a group of people who want to work for companies where they can show their creativity and passion. The right HR team can help businesses overcome the risk of finding the right people.

3. Product/Service Quality Issue
Small businesses cannot offer a low price for their products or services due to high operating costs. Any compromise in quality can lead to a setback for the business.

  • To overcome business risks due to quality issues, a strong QC (Quality Check) team should be kept in place to make sure that everything goes as per plan.

4. Debt
Debt can make the deepest holes in the balance sheet of small businesses. It should be very minimal if not zero, to keep going with their operations.

  • Instead, they should focus more on profitability than on volume, which helps them to avoid taking any loans from external sources and create risk in business.

5. Cybersecurity risk
The best organizations today can bear the cost of the best guards. As these bigger ventures show signs of improvement at protecting against cybercrime, cybercriminals threaten to descend on the business’s natural way of life and also tends to focus on private ventures who can’t manage the cost of complex security systems. Today, private ventures are the favored focus for cybercriminals.

  • At the point when income is restricted, spending on security seems like a risk in business. Acquiring cyber risk and information break protection inclusion, such as taking safeguarding measures to diminish Internet-based exposures can help you avoid falling prey to cybercriminals.

6. Legal risk
Numerous first-time entrepreneurs might not have the skill to assess everything about each agreement they need to sign or they may ignore something accidentally. These oversights can prompt issues in the near future. Legitimate cost protection can spare you from any extra or unforeseen dangers from providers or clients. This straightforward and simple choice can eventually help you save legal expenses and money spent on protection inclusion.

  • Protection or insurance is a key part of every small business strategy. By understanding these dangers for independent ventures, you can make strides at an early stage to deal with the above dangers and secure your property and assets against catastrophes.

External Risks

Businesses have no control over external business risk factors. Small businesses should keep this in mind at the time of planning and setting objectives to avoid the risk in business.
1. Competition
Industry leaders can play with small businesses to keep them out by eating their share of the market. They can reduce the prices of their products or services to make it more affordable for customers; any small business cannot afford to get into a price fight with these big giants.

  • To overcome this risk in business, one should always have a USP (Unique Selling Proposition), which is not possible for competitors to match.

2. Government Policy
Any change in Government policy can shut the small business venture overnight. An automobile engine part manufacturer won’t be getting any business if the government bans the kind of engine this business was manufacturing.

  • It is not easy, but diversification in more than one industry can help overcome the risk of change in government policy.

3. Economic Slowdown
Nobody was prepared for COVID-19. After this outbreak, the most affected industries were Hospitality and Travel. Consumption became very low in these cases and when there is no or very less demand, businesses cannot make any revenues.

  • To overcome these risks in businesses, one should always keep emergency funds ready for bad times.

4. Natural Calamity
Accidental fires, earthquakes, and tsunamis can happen without any warning. At times, the losses could be beyond recovery if a small business entity has not prepared itself for these situations.

  • A good insurance plan can help to avoid any such losses.

Therefore, in every business which faces risk, there is always a silver lining that offers hope and helps you to overcome it. One should be motivated and must have a positive attitude towards every situation that can impact you in the future.

Categories
Technology

How Outdated Software Can Put Your Business at Risk

Security Risks of using an Outdated Software

Technology is the key to a successful business and software is the pulse of your technology. Outdated software risk, which is also known as legacy software, cannot be overlooked within a business. A business should replace the old software before any critical issue occurs. This issue can be detrimental to your business if you do not upgrade it with a new system. However, upgrading your software is not an overnight decision and comes with many challenges like staff training, data migration, etc. 

Let’s discuss a few issues that can be detrimental for your business if you do not change your outdated software:

1. Increased failure rate

We all live and work in an on-demand society, where your customers expect uninterrupted and reliable services that are available at their leisure. While using outdated or legacy software, if any unavoidable issue occurs, then you and your customers can face a service downturn. This issue can damage your brand image and you can lose your customers to your competitors, who probably have new or better software. Outdated software risk may slow down your business growth.

Increased failure rates can also have an impact on your pocket with extra costs, such as:  

  • If you have outdated software risk, then you can lose some of your sales.
  • Outdated software risk affects employee productivity as a lot of time will be wasted in fixing and maintaining software.
  • IT and data recovery costs also can affect your pocket.
  • Your brand image can go down.

2. Regulatory and legal outdated software risk

You can be a prime target for data thieves and hackers if your software is outdated. If you are not focusing on updating your software, then you can increase the risk for your business. You can break regulations if you are using outdated software. Although there are laws on data storage that ensures your data is secure, but if your technology is unsupported, then you might face detrimental consequences. It is more important to have data security as many companies do online transactions to avoid outdated software security risk.

3. Increased cost

Outdated or legacy software can be costly to maintain. Although, the new software will come at a price, but you will likely face less risk and will be able to save money in the long run. Updated or new software ensures that your employees are well-armed with the right technology. The outdated software security risk is likely to use more electricity, which can also add to the cost factor in your budget. 

4. Security

A Microsoft study shows that with updated technology, companies can avoid 70-80% of top malware detected. Old software puts your company data at risk all the time. The purpose of the update is to fix the security flaws. Many automatically rolled cloud-based software are there to give you security updates and protect your business data. However, if you are using any unsupported and outdated technology, the critical updates will not be available and your data can be breached. Outdated software risk means you are more vulnerable to attack by hackers and data thieves.

Perks of upgrading to new software:

  • Upgrading your software can reduce your IT costs by 66%.
  • It will help you to compete against large organizations.
  • Using a cloud can help you with security advantages.
  • Updated or new software allows you to grow your business faster by 49%, whereas outdated software risks may slow down your business.
  • The upgraded software will add new features, which will help you to work smoothly.

It is even more important and essential for a business to have the right software, as technology continues to develop. By upgrading your software, you ensure that you are ready for the future and are in a good position to compete with other competitors out there. With an updated armory which is your software, you will have the power to manage your processes, connect your departments, and grow your business faster.

Categories
Finance

Investment Strategies During a Downturn in The Economy

Investment strategies to follow during a crisis

Many investors now fear that another recession is afoot, although most causes of recessions cannot be predicted in advance.

Before anything bad happens, it is a good idea to plan ahead and decide on your investment strategy in crisis. A recession does not mean that all investments should be put on hold; it just means that you have to do smart investment during a recession.

What is an ideal strategy?

There are contexts where the situations that are unfolding are similar to those you have faced in the past. In such cases, you have a fairly good idea about the outcomes that will ensue. In such situations, doing what you have always done, and expecting a different result might not be the best strategy. These situations are ideal opportunities for innovative action. However, when the context is something you have never faced before and your past knowledge is not helping you unravel the situation, it is no time to try anything new. Just fall back on your tried and tested strategies of the past.

We are in the midst of a problem that has not yet fully unravelled itself. We are not in a position to gauge the full impact of the coronavirus pandemic on the world economy. In these uncertain times, the best strategy is to stand where you have been standing in the past and to continue with the investment strategy you had before the pandemic broke out. This is not the time for taking new action.

Here are some quick tips to keep in mind:

1. Low-risk investment:

  • Do not take any kind of risk with your investment; it is not the right time to do the experiment.
  • Avoid investing in companies that are highly leveraged or speculative.
  • Find out companies that have a good cash flow and low debt for safe investment options.

2. Focus on recession-resistant and non-cyclical industries

  • Finding a non-cyclical industry offering goods and services is a good investment strategy in crisis.
  • Make an investment strategy in crisis for recession-resistant industries like grocery, cosmetics, medical industry, etc.

3. Diversification

  • It is a good idea to diversify your business in these tough times.
  • It is always good to have different sources of revenue so that you can save your existing business.
  • You can start an online service like a paid webinar, online coaching, and can make viral videos. You can also try your hand in food retail or can partner with some health-care company.

4. Dividend stocks

  • Dividend stocks can create passive income.
  • You can essentially receive a portion of the company’s earnings by investing in dividend stocks.
  • Always look for a company that has a low debt-equity ratio.

5. Investment in consumer staples in the equity market

  • If you are looking for a safe investment strategy in crisis, the equity market can be a good option.
  • It is a good idea to focus on consumer staples or any essential items that people need and buy regardless of their financial situation.

For many people, the financial crisis is scary, but if you have a smart investment plan then it actually is a good opportunity to make money. So be prepared and make money in any crisis.

Categories
Powerful Personalities

Learn From The Best CEO Coach in India

डॉ. विवेक बिंद्रा
डॉ. विवेक बिंद्रा

Why does every CEO need a Coach?

Being a business visionary is a role where perhaps your path to success is not diagrammed for you. Nobody thinks you could need some advice, hand-holding when things get troublesome and nobody will gloss over their faith in your potential disappointment.

For a few, the constant reminder of a restricted runway shakes their feeling of assurance and causes re-thinking. Others pompously walk forward, without offering appreciation to the mines covered up in their way.

CEO Coaching assists associations with developing leaders who can catch the opportunities early on, settle on cool-headed decisions, and make new income streams. It additionally manufactures important aptitudes and information for professional success or for taking on new positions and duties.

An incredible CEO Coach like Dr. Vivek Bindra (Asia’s best motivational speaker) can be the answer to your worries and successes and can help enlighten you on the unexpected perils.

Let’s discuss, why CEO Coaching is crucial:-

1. The view from very close can be foggy

At a point when things are working out in a good way and the business is blasting, you’re probably going to overlook the bits that aren’t “great.” You may even think on and off that if something is not broken or getting damaged why worry about it now. But it takes one move in the market, one product review or one displeased client to change that. An unbiased outsider assessment gives a reality check. A CEO Coach in India helps you to be focused, centered and fixes vulnerable sides that weren’t as obvious beforehand. Simultaneously, it’s normal for people in a business situation to have their plans and explicit zones of core interest. A coach ends up being a partner, who defends and utilizes logical and scientific set of tools to decide how the CEO can best address the current issues.

2. CEOs need to gain new and useful knowledge

In the move to the top, each CEO without a doubt gathers their own set of skills and abilities. While the CEO’s specialty may have been in accounts or operational administration; driving a corporate group to progress is a different ballgame altogether. An accomplished coach is prepared to construct pioneers to develop personally and professionally, with strategies on the most proficient method to move the C-suite group and the general workforce too. Studies show that singular efficiency increments by 86% with CEO coaching.

3. The coach CEO relationship opens entryways

CEO Coach is a sounding board that CEO’s need with regards to conquering obstacles, whether in their own jobs, business works, or even sometimes on the personal front. A CEO Coach can augment points of view and improve dynamic abilities too. Years of experience render mentors fit to give important guidance liberated from concealed plans, irreconcilable circumstances, and more.

4. Everybody benefits when the CEO develops

Research shows that almost 80% of executives state their CEO would invite coaching. While significant coaching benefits are seen in the meeting room especially key business choices being made with the help of the best CEO Coach. Accomplishing key skills like moving your group, concentrating on their qualities, and urging your whole workforce to progress in the direction of the company’s goals, they go far in making any association effective and successful.

5. Instructing hours make CEOs think

A Chief’s timetable and plans are commonly loaded with a client meet, financial specialist meetings, operational reviews, satisfying corporate commitments and managing greater issues like advancement, innovation, competition, etc. During the time spent with the CEO Coach, he urges the top boss to utilize this opportunity to ponder each part of the business- something the person in question presumably doesn’t possess energy for during typical working hours. Research demonstrates when coaching supplements the executive’s preparation, the efficiency increments from 22% to 88%. All things considered, CEO training is a win-win circumstance, prompting the improvement and refining of administration abilities which at that point channel down to the remaining official executive group.

6. Progressively developed abilities

As we probably know, any unpleasant words from an executive can prompt serious devastation. During the CEO coaching and training, the executive learns relational abilities to carry on pleasantly with the employees.

7. Contention goals

Every association faces clashes because of representative disappointment. Here a CEO

The intervention will prompt a fast resolution of the issue. Clashes significantly influence the efficiency; henceforth a CEO coordinated effort for conflict resolution will help. A CEO is coached on the conduct move creates building worker fulfillment, joy with sound relations in execution.

The CEO coach works beyond developing executive-level skills and growth skills that benefit the organization. CEO gets the benefits to have a desired positive behavioural change. They develop leadership skills, resolve any conflicts between their employees and improve upon their managerial skills too. The Best CEO coach opens the horizon of possibilities by bringing awareness and enabling actions.

There are four primary territories a CEO is centered on when getting trained by the best CEO Coach:

  • Developing a World-Class CEO
  • People + Culture
  • Execution Insurance
  • Being a Canary in the Coal Mine

Coaching by one of the leading CEO Coach in India is a way to help an enterprise head to manufacture maximum capacity and improve their executive aptitudes and capacities. In any case, it has been perceived as a significant apparatus to enable high potential leaders to take on the mantle of heading an organization.

Categories
Finance

Finance For Non-Finance – The Basics That Every Entrepreneur Must Know

लोन
लोन

Not every entrepreneur has to be a Chartered Accountant. But every entrepreneur must understand finance such that they can drive business growth, understand taxes and manage the financial health of their business.

A stronghold on finance for non-finance leads to the following advantages for the business:

  • A strong understanding of assets and liabilities
  • Strategic decision making based on data from P&L, Balance sheet and Cash flow statement
  • It makes your business ready for fund raising
  • Business becomes prepared to manage costs
  • The business is prepared to manage working capital

These Finance for Non-Finance tips can impact your financial decisions and can also affect the performance of your organization in terms of profitability. You will gain a basic understanding of Finance for Non-Finance concepts to drive your organizational growth.

Here are some important tips related to Finance for Non-Finance to understand your financial health:-

1. Know your Balance sheet/Report Card to understand your business

  • A balance sheet is a report card or a scoreboard that shows you the financial health of your business.
  • A balance sheet shows you the bigger picture of your company. It goes beyond the short-term view to gauge your business progress over the time.
  • A balance sheet helps you calculate the value of your company. You may not be thinking about selling your business anytime soon but having an idea of the value can give you an insight about your future plans.
  • A Balance sheet also works as an early warning system. Is your equity shrinking or growing? If your business is not producing growth equity, looking at the assets and liabilities on your balance sheet can help you find out why. For example, if your inventory is a part of your assets, it can turn out to be dangerous because if the inventory doesn’t sell quickly it can become your liability.
  • A balance sheet is a very important financial tool because it gives you an insight on the availability of funds to run your business in the short-term and also allows you to make predictions based on your current financial status.

2. Build a strong Cash Flow management

  • 7 out of 10 start-ups fail because of poor cash flow management. Running out of money is the most critical situation where most of the start-ups fail. You always need to know where the money is coming from and where the money is going.
  • Perform a cash flow analysis at least once a month. This will help you identify the risky situation and will help you move forward. It also records all the relevant activities for the current period.
  • Cash Flow management is the amount of cash collected and used by a company in a set period and checking on how much cash is available to perform other functions. This is one of the most difficult and critical aspects of financially understanding your business.
  • You are going to put your business in a very dangerous position if you don’t stay on top of your cash flow. It doesn’t matter how good your idea is when you run out of the money you always hit a brick wall.

3. Limit your fixed expenses in the beginning

  • In the starting stages of a business, keeping all your expenses low is an important key to longevity.
  • Utilize your major capital to grow your business, this will enable you to fight when the going gets tough in your business.
  • Many business owners focus only on the wrong things; like offering too many perks, fancy offices and forget that generating revenue should be their top priority initially.

4. Calculate your business costs and margins 

  • The cost to produce a good or deliver a service is constantly shifting. Changing economic conditions can also affect the willingness of your customers to pay the price.
  • Keeping a close eye on costs and adjusting prices to ensure strong profit margins as this is one common mistake entrepreneurs make.
  • A lot of times business owners fail because they acted too late to make necessary adjustments to the pricing structures.

5. Capitalization of the business

  • Having funds in hand to pay employees or cover operating expenditures can help you keep the business afloat. That’s why business owners need to ensure that they either retain enough earnings to secure sufficient loans and to manage through challenging times.
  • When it comes to understanding taxation, remember that both businesses and their owners are subject to varying levels of taxes, so a clear understanding of the distinction between personal and professional taxes need to be understood.

The health of your business completely depends on how much understanding you have of the Finance for Non-Finance aspect.  Above are some points on finance for non-finance you must know if you want to enter the world of entrepreneurship and run a business.

Categories
Process & Business Expansion

Which Franchise Model is Good For Your Business

सफल उद्दमी
सफल उद्दमी

Franchising is a superb avenue to explore while starting a business. Before investing money in the franchise, entrepreneurs should look for best Franchise Business Models which can work. While doing so, there are many questions that come up in everybody’s mind- 

Which Franchise Model will bear the most benefits? 

How are these models different from each other? 

What are the pros and cons of these models? 

If you’re one among them, then throw away your worries, we’ve got it covered for you.

COCO (Company Owned Company Operated) 

  • The COCO franchise business model is primarily run by the franchisor itself and the franchise partner only has a stake in the property.
  • COCO model offers franchisees a unique opportunity to generate profit from an established and well-loved brand.
  • The only thing required in this model is an investment. The franchisee does not have to engage in the daily running and gets a guaranteed return.  

FOCO (Franchise Owned Company Operated) 

  • In the FOCO Franchise Model the initial set up cost is borne by the franchise or the owner of the business.
  • The franchisee gets a percentage of revenue or minimum guarantee while the running cost is borne by the company.
  • The company will be responsible in operating it and taking care of all the things necessary to run an outlet, such as Marketing, Logistics, Staff wages, Electricity, rent etc. and the franchise is the owner of the business.
  • The company will also have to give a fixed percentage of profit shares to the franchise owner.

FOFO (Franchise Owned Franchise Operated)
 

  • In the FOFO business model, the company basically rents out the brand for a pre-agreed time period and a particular non-refundable sum.
  • Merchandising and money are decided by the company although the company provides a few similar benefits like in the FOCO model; such as marketing, print and electronic.
  • This Franchise Model is owned by the store, that’s why the operational cost has to be borne by the franchise itself. The Franchise has to assured the percentage share of revenue and the minimum guarantee to the company.
  • This model is adopted for faster expansion of business/brand by the company. 

For example; in a Fast Food Chain where the business is operated and owned by the franchise but regular audits are done by the company to ensure standards are maintained.

COFO (Company Owned Franchise Operated)

  • This Franchise Business Model is adopted by companies when they want to reduce the operational expenses.
  • In this model the company leases the operations to an interested franchise to ensure standards are adhered to.
  • The business ownership still lies solely with the organization, the franchise partner can be changed when the company identifies a more profitable and efficient franchisee.
  • This model is adopted by the company only in well established markets where the company has operated and got a high return on investment.

FICO (Franchise Invested Company Operated) 

  • This business model is similar to FOCO but unlike the FOCO the franchise does not involve themselves in the business operations.
  • Only a fixed amount is paid to the Franchisee by the company as an investment done by franchisee in the business.
  • In this model there can be multiple franchise partners and investors as the company runs the business operations with end-to-end control of the supply chain.

Hope this account has given you a clear Idea about the different kinds of models that are present in the Franchise Business. Hence, evaluate all propositions before getting into the franchise model depending on which side of the table do you stand.  

Categories
Sales

Grow Your Business Globally Through Channel Partners

How to build a successful Channel Partner Program?

Whenever you want to increase your profit, you always look at the sales team first. Your business depends on sales and therefore the team needs to find prospects, work towards getting the sales done, get signatures and close the deal. But a company just cannot rely on its sales force for revenue generation. And therefore, other strategies and programs need to be instituted. If the goal of your company is to boost revenue, you might need a secret weapon outside the sales team; a channel partner business. By partnering with channel partners, you can increase your sales numbers, drive new customers and grab the opportunity you may not have been exposed to.

Look for a channel partner that fits your DNA

  • Look for a company or a person who can ideally sell your product or services.
  • Make sure your channel partner fit is logical and long term in nature. Check for the cultural and competency fit too.
  • Understand if your channel partner is ready for this opportunity? Do they have all the resources to invest in this opportunity or partnership?
  • Analyze if they can make you reach your goal?
  • Do they have the skill set they need for a successful implementation?

Build relations with your channel partner

  • Building a mutually beneficial plan is the key to making a channel partner work. Make sure it is a win-win situation for both.
  • Build a relationship with your channel partner where they invest in selling your product the way you and your team do.
  • Your first partner should be the one whom you are familiar with and can trust. 
  • Make an agreement where your channel partners see enough value in the partnership for them to focus on it.
  • Work closely with your partner and build a strong relationship, if you want it to be effective. This will help you understand what works and what needs to be adjusted.
  • Build a team of relationship managers to maintain a relationship with the channel partners. For example; Bada Business Pvt ltd has a team of proficient 25 relationship managers to maintain relations, get feedback, and follow up with the partners and also check if all the formalities are in place.

Equip your channel partner with the right tools

  • Provide a sales toolkit to your channel partner business and show them what the selling process is going to be like.
  • Have multiple training sessions with your partner on how your product is pitched and positioned. This process will make sure they represent your brand well in the market.
  • Build a channel partner business plan that includes development assets like company videos, success stories, landing pages to encourage them.
  • Go the extra mile to educate and empower your partner with whatever they need, this will add more value to your company.

Make sure you can scale along with the new channel partner

  • Before approaching a channel partner, make sure you do your homework on them.
  • Build a solid team to handle the partner and divide them into regions.
  • Look for a partner who fits your DNA, then provides them effective training and sales tools to ensure your commitment towards the opportunity they bring in.
  • With a smart channel partner strategy, you can dramatically grow in no time.
  • Selling through channel partners can take your business to a new market effectively.

Bada business Pvt. Ltd. provides immense growth opportunities to associate with the brand ’Dr. Vivek Bindra’ as a channel partner. In this partnership each of the partners is focused on working towards solving the burning problems faced by entrepreneurs today. 

If you also want to work with a brand like Bada Business (Dr. Vivek Bindra’s initiative) as a channel partner and fulfill your dream and vision of doing something for entrepreneurs of ’Real Bharat’ then click on this link and fill up the given requirements:-

https://www.badabusiness.com/franchise-partners

Build a solid platform like Bada Business where the partner can exchange their ideas and create a lasting impression on your customers. 

Categories
Marketing

Importance of Online reputation management (ORM)

Win Customers through Online Reputation Management (ORM)

Online reputation management (ORM) is an important function to manage your brand or company’s profile online and on social media. Basically ORM helps to improve and monitor your digital presence. It analyzes your potential customers and what information will they get about your product or brand whenever they use Google search or social media.

With the growing popularity of third party reviews on websites, social media, and other online platforms, strong online reputation management is important for your business.

The online world has become a powerful platform for people out there to share and express their feelings and that is why companies need to be proactive and reactive to manage their online presence.

The concept of online reputation management 

ONLINE REPUTATION MANAGEMENT plays an important role in reducing the number of negative reviews about your company/product. Through the concept of ORM, a brand can insert new and relevant content that pushes away the unwanted content down in the search ranking. In some ways it also impacts the company’s bottom line and customer loyalty. An effective online reputation management strategy provides you with new opportunities and insights on increasing brand awareness and the love for it. It helps you build upon your existing customer base online along with attracting new customers on to your social media profiles.

Why ONLINE REPUTATION MANAGEMENT is important for your business

  • Business is all about building an image and improving it every day. It is important to make sure your brand is interesting and fascinating to attract new customers.
  • Before buying anything online, customers look for reviews online to know the brand, product, and its functioning. The preference of your customers largely depends on the search results.
  • Anyone can give reviews online, even your competitors can write negative reviews to spoil your reputation online. Online reputation management helps you to overcome all this.
  • With the help of ORM you can eliminate the negative content that is untrue; this helps in painting the right picture in front of the customer.
  • Online reputation management helps you improve the reviews and feedback about your brand and create a positive brand image. Customers usually pay more attention to a brand that has a positive feedback and reviews online. This helps to generate sales as well.
  • Online reputation management boosts the search engine optimization of your company.

A survey indicates that there are 90% of customers who read online reviews before purchasing anything, therefore ORM becomes paramount today.

How to check your reputation online? 

Before taking any steps, you need to analyze the online presence of your company. You can check your online reputation with the help of this checklist:-

  • Search your company or product name online and look at the top listing. Can you find your company or product name in the top 5 listings? If not then you have to improve your search ranking. You have to make sure that your company has a positive impression on Google or any other search panel.
  • Check if the information provided about your company or product is correct on Google search. For better visibility, you can list your company on Google my business account.\
  • Keep an eye on all your social media accounts. When was the last post you have posted? How many followers do you have? What kind of engagement you are building?
  • Do your posts represent your brand or not?
  • Look at the average response time of your followers.
  • Keep an eye on your Facebook and Google feedbacks & reviews. Check how many new followers you have made on these accounts.  Make sure you respond to each feedback and review.
  • If there is a complaint that has come up on any of your social media handles, address it first.

What makes online reputation management an integral part of your digital promoting strategy? 

Brands need to watch, evaluate and improve their product’s perception in the minds of the consumer by keeping a note of the below-mentioned parameters.

  • Improvement in the site’s ranking
  • Ratings
  • Search profiles.
  • Better brand acknowledgment via Social media, third-party review sites, web journals, and blogs.
  • Presence of improved Social media
  • More followers
  • Conversions through social media

This is one of the key reasons why modern organizations consider ORM an important fundamental for their business.

Let’s discuss four particular digital marketing channels associated with ORM

Let’s understand the PESO model:

1. Paid: The channel in which cash is paid to put the messaging out, and control its appropriation.

2. Earned: The distributed inclusion of an undertaking or an individual’s message by an effective third-party, for example, a writer, blogger, exchange analyst or an industry influencer.

3. Shared or social media: The go along sharing and remarking upon your message by the network through social channels.

4. Owned: The messages you compose, distribute, and control through your own, committed blog or other channels.

Paid Media 

Paid media incorporates all advertising endeavors that require payment to highlight your business on outside websites and networks. This incorporates PPC advertisement with Google Ad Words, show advertisements on Facebook, and supported posts on industry/influencer web journals and blogs. Paid media expands your range and directs people to your web properties by building new associations with accomplices and clients.

Earned Media 

Earned media portrays the presence of your business on external web elements for which you didn’t pay. It expects you to stand apart from your competition with extraordinary content, service, or products that customers also think is worth sharing, reviewing, referencing, and reposting.

Social Media

Pages and profiles on social media are “an augmentation of your image and make additional avenues for individuals to the interface”.  When it comes to social properties, it’s critical to dedicate the assets and resources to remain active on them by participating in discussions and distributing new content consistently. Video content, interesting contests, and tying up with Micro-Influencers can help boost your visibility, reach and engagement levels.

Owned Properties 

Your business sites and online journals are properties owned by you, which implies you have full power over them. Obviously, the more properties you own, the higher your odds to successfully formulate your digital marketing presence.

Online reputation management requires regular monitoring; it is not a one-day activity. Online reputation management will help your business in the long term if you keep an eye on your activities and the activities done by your competitors.

Categories
Process & Business Expansion

How to Transform Your Business From Physical to Digital

How to Transform Your Business From Physical to Digital
How to Transform Your Business From Physical to Digital

Move your Offline Business to an Online Business

Setting up an online business has become the new trend these days. The usage of smartphones is rising and so is the demand for an online market for everything. It’s time to get out of the traditional forms of running a business by adopting the path of Online Business Transformation. Ecommerce companies can reduce their physical infrastructure costs at the same time be available to customers at the click of a button from anywhere in the country.

Want to take your business online? Here are some key steps for easy Business Transformation.

Open a Seller Account –

Amazon is the world’s largest e-commerce company with an expertise in this for over 2 decades. One needs to register as a seller first on Amazon. Other online platforms are also available such as Flipkart (now owned by Walmart), Snapdeal, Myntra, etc. Opening a seller account is free of cost and the process is very simple. The seller just needs to add company details like:

  1. Name of the company
  2. GSTIN
  3. Bank Account Details (to receive payments) etc.

Creating a seller account is the first Business Transformation step that an entrepreneur needs to take

Product Listing –

The second Business Transformation step is to create a product listing. The seller needs to list the entire product range he wishes to sell online. A proper Product title, Bullet points, description, images, videos are required to create a good product listing. It is important that the seller should add as much information about the product with its price to make it easy for the customers to grasp and then make their buying decision quickly.

Order Fulfillment Method –

For easy Business Transformation, major e-commerce companies allow sellers to choose from different fulfillment methods i.e.,

  • Self-Ship – Here seller needs to pack all the orders themselves and take responsibility for the timely delivery of orders received within the given time period.
  • Drop Ship – The Seller is required to pack the products. Ecommerce Company gets the ordered product picked by their logistic partners. The seller is not responsible for any delay in delivery.
  • Fulfilled– Amazon and Flipkart have their own fulfillment channel called FBA and FK Assured respectively. Sellers are required to transport their stock to the warehouses of e-commerce companies in bulk. All the packaging and order delivery is then handled by the company itself.

Regular Payment –

There are no issues of payments when one decides to go for digital Business Transformation. Normally, the first few payments of the orders dispatched is credited to the seller’s bank account within 15 days. Post that, the seller receives payment every 7 days. The seller should keep track of all the transactions. Any delay in payments should be notified to the Ecommerce Company.

Amazon and Flipkart is very seller centric, they get these issues resolved in 24-48 hours.

Account Health –

Last but not least, the seller account health is very crucial for future business and this is a key Business Transformation step. Account Health or Seller account reputation is a reflection of customers’ good or bad experiences. When orders get delivered to the buyer, the Ecommerce player asks for customer feedback which is added to the seller account health. Satisfied customers can give a 5-star rating on the products; on the other hand, unsatisfied buyers will give lesser star ratings. This way the seller will be alert at all times and will supply perfect products to reserve the goodwill. Frequent negative ratings from buyers can result in the suspension of your seller account as well.

Easier said than done, right now these digital Business Transformation steps may seem easy, but providing a good quality product and strong backend operations to keep you ahead from the competition is a tough task. Today E-commerce deals in almost every product providing discounts and benefits to their customers. The customers take more interest to shop online than stepping out as they can buy whatever they want and that too at prices lower than the market. Going digital is cost-efficient and effortless for both sellers and consumers at the same time.