Tag: bada business

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Process & Business Expansion

Learn How to Start Your Company From Scratch

स्टार्टअप
स्टार्टअप

Start a Company with Ease!

Every business has to start from the very beginning, and it’s the passion behind it that drives you to start something and be your own boss. Starting a company from scratch need not be complicated, but requires a lot of planning and backend work. Here are a few tips on how to start a company from ground zero.

1. Research & Refine your Idea

If you are thinking about how to start a company and set a business, you must be having an idea. Thorough background research of the idea is critical

Analyze what market leaders are doing in that space and learn from their mistakes 

Talk to a lot of customers, understand their pain point and try to solve that problem

Conduct surveys, hold focus group meetings and research SEOs

2. Prepare a Business Plan

After researching your business idea, the next phase is preparing a business plan that reflects steady & realistic growth

Don’t rush into things before understanding the key aspects of a business. For e.g. 

  • What is the objective of your business?
  • Your defined customer base
  • Price points
  • Sales projections
  • Operational costs
  • Market Strategy

All this has to be a part of a well-defined business plan

3. Choose your Business Structure

This is very important before you decide to start a company. There are a few structures that SMEs can choose from:

  • Sole Proprietorship where you are the ultimate boss and the cost of setting up is the least
  • Partnership- Where you can start the company with a friend, family member or a business partner and decide your profit and loss sharing ratio
  • Limited Liability Company (LLC)- This is a popular choice for small to medium sized businesses. The cost of set up is not very high and there is a separation between the owners and the company

Once you choose a structure, register the company and follow all mandates to make it official

4. Make a financial breakdown chart

If you are starting a new company, you need to address finances and see how the funding will take place 

One of the ways to do this is to prepare a break-even analysis. This is essential for financial planning to know when your business will be profitable 

The simplest way to do this is to calculate your fixed costs and your variable costs and get the difference between the two

Set a financial goal, this will help in keeping a check of whether you are stretching your budget or there is room for margin

Keep a list of the funding options available to you and at what stage you would like to use them

5. Build a Founding Team

Human resources are important to every business and an entrepreneur should be clear that he cannot manage all the functions

Get together a team by assessing their strengths and weaknesses, so that everyone is an asset to the company

Delegate work effectively

Incentivize the team so that when the company grows, they also benefit from it

6. Improve on the Go

Once you have clarity on all your initial steps, there is never a better time for starting up. Improvisations can be made as you go along. 

Most successful companies have launched with imperfections but that did not deter them from adapting to the changes

Learn from the journey and enjoy every bit of it!

7. Decide a launch Strategy

Once you start a company and your product is ready to hit the market, be clear about how you want it to launch

Think about media spends and the mediums you want to use, how do you want to market the product initially and grow it phase by phase

Start branding yourself using social media. Build a following on Facebook and Instagram to create the initial buzz  

Build a logo, create a website and let people identify with your brand

8. Feedback is Essential

Once the company has started and you have launched your product, let people use it and give feedback. A perspective from the consumer will help you see the product in a different light

Customer feedback will help in improving your business 

There is no perfect route to start a company and grow your business, but a killer instinct and the ability to adapt will help you achieve success. Have a quick problem-solving approach as you will

be constantly competing against time. Don’t rush into things and you will be on your way to building a company that you always dreamt of.

Categories
Process & Business Expansion

How to Create a Successful Subscription Business Model

How to Build a Successful Subscription Business model

We all have realized that the Subscription business model is here to stay. A large number of businesses are moving from a product economy to a subscription economy. 

Why does a subscription-based business model work?

There are 4 factors that we can attribute to this:

  1. It gives you the opportunity to move towards a recurring revenue model. The model is devised in a such a way that the customer will have to pay monthly, quarterly or yearly for your product and service and if you keep providing him quality, chances are higher that there will be a repeat subscription
  2. It allows you to constantly engage and connect with the consumer. Business-customer relationship should not be limited to just a single point purchase
  3. New revenue streams can be created from the current customers by adding more services to your product
  4. A subscription business model can make you take the plunge into digital which can help you save a lot of cost and can help you scale faster

Now if you have chosen to walk the subscription path, you still need to work hard on your product, on your pricing and your service to make sure it is a success. Here are a few tips to succeed using a subscription model

1. Align your Pricing with the Business Goal

  • Pricing is the most important strategy in a subscription business model to make sure your business is a success. It can help you in a lot of ways to acquire new customers, create more revenue streams from existing customers and also make sure the retention rate is high.
  • Structure your pricing tiers on the basis of monthly, quarterly or a yearly based subscription model
  • Also take into account other factors like usage levels, loyalty, new schemes
  • You can start with some basic pricing tiers & adjust it over time keeping in mind customer feedback

2. Bring in Uniqueness

  • Provide the customer with new products and services that add value to them
  • In a subscription-based business model, customer sometimes might not know about the differentiating services provided by you. Spell it out through constant alerts to prospective clients
  • Your product needs to constantly connect with the consumer for it to work

3. Give the Consumer Convenience

  • Today most companies that provide anytime, anywhere convenience to the customers are the ones making money
  • For e.g. All OTT platforms like Netflix, Amazon Prime, and Hotstar give the consumer an option to watch shows/movies anytime and anywhere. Netflix has also devised a pricing strategy for content watching for mobile-only users. This is cheaper than its usual monthly package.
  • Provide the consumer with variety at the click of a button

4. Streamline Cash flow & Billing
 

  • In a subscription based model most of the cash being received by you is upfront, the maximum credit cycle is also 30-45 days. Hence, make sure you are rotating your cash efficiently
  • Bring in automation and software to ease our the billing process and optimize cash collection

5. Build Customer Relationships

  • Customer Relations form the basis of every business and similar is the case in a subscription business model
  • If the customer is not happy with your product or service he will cancel the subscription for the next time. Hence, innovation and building strong relationships is key
  • Get to know your customer well and then design products for him. This will also help in deciding the pricing strategy

6. Give your Customer a Choice

  • In a subscription business model, the one size fits all strategy might not work well for everyone. Hence, give the customer a choice to choose a specific service or a specific pricing tier according to their likes and needs
  • This will help you attain more customers as paying according to choice will appeal to your target audience

Every entrepreneur wants a regular income in his business for positive cash flow and business growth. Subscription based business models provide the perfect platform to enable that ambition, but the cheery on the cake will always lie in your product quality and customer satisfaction.

Categories
Marketing

Importance of Lead Management Software in Business

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Power your Performance with a good Lead Management software
 

As the name suggests, Lead Management is a way of process set in the company to generate leads. It is a software-based system intended to build access to a new customer base.  

Good lead management software has the potential to impact revenue of a business directly by bringing sales and marketing together.

In today’s time and age, technology has given a whole new dimension to businesses. SMEs and MSMEs are always on a lookout to be more productive and grow their business efficiently.

Leads are potential customers who are interested in your business, services or products. Often it happens that despite showing interest, your potential customer doesn’t invest in buying your brand. Lead management software not only helps in tracking the leads but improves strategies of sales to get more and more customers into the system

Let us see the various benefits of a lead management software in business- 

1. Boosts Efficiency-
 

Every business wants to run its operations effectively and smoothly. Automation in marketing streamlines the sales experience. It automatically books an appointment, helps in online payments, sets reminders, and increases the engagement with the customers.

In this way, your interaction with the customer increases making them feel important and wanted

2. Improved customer relationship management-
 

Maintaining a lifelong relationship with the customer is very crucial for any business and customer service is undoubtedly one of the most important parameters for growth. 

The software helps in creating an online history of its customers, information of orders and communications or dealings with other companies.

The storage of bulk data at one place with the lead management software also becomes convenient.

3. Saves time-

Time management for any business is very significant. Especially for small businesses time is money. That is why it becomes important for business owners to monitor the daily work flow efficiently.

The software can help in the reduction of routine manual tasks since automation allows online tasks to take center stage. 

Investing in good lead management software helps business owners to unlock their time and allows them to focus on other important aspects of business to generate revenue.

4. Increases Scalability-

Another important benefit is that the software helps business scalability. 

Based on customer’s previous action and interests it helps in implementing the better sale strategies for the business.

It also supports in managing and enhancing the inflow and outflow of the leads.

5. Better SalesForce?-

It enhances the overall productivity and efficiency of an employee. For any given task which needs to be accomplished an employee just needs to make the following entries in the system- 

  • Basic information
  • Browsing history
  • Scheduled task
  • Contact history

It helps business owners to evaluate the workforce required to achieve a certain target.

This software also acts like a one-stop solution for cloud-based information which can be accessed from any part of the world.

6. Customization-

The lead management software offers the feature of customization as it is crucial to reach out to the right leads with the right product or service. 

This automated feature ensures that based on the need of a client a customized message is sent according to the profile of the customer.

It also engages with the customers by sending reminders, SMS or emails.

7. Increases Scope of Consumption-

The biggest advantage of the lead management software is that it increases the consumption scope of customers.

The automated software can help in increasing the purchase ticket size by suggesting a combo offer (if any) with every sale of goods. It can also recommend any perks attached to the minimum purchase order, any ongoing scheme etc.

All this, will eventually lead to the overall revenue generation in the business.

Lead management software is the backbone of the sales operation in any business. It assists in accountability, tracks potential leads and gives a personalized experience to your customer. The right kind of software used in the right direction can increase the overall ROI of the business.

Categories
Finance

How to Setup a Petty Cash Book For Your Small Business

The Step by Step Guide to Prepare Your Petty Cash Book

Do you require cash for unexpected expenses almost on a daily basis?

Whether it’s money for some office supplies, lunch for clients or employees, cab fares or money to pay the postman when he brings a letter or a COD package, businesses need to keep some cash in hand for such unexpected expenses. In business terminology, we call it petty cash.

What is Petty cash?

Petty cash is a small amount of money kept aside for the day-to-day expenses in your business.

Small businesses mainly setup a petty cash book for convenience, as sometimes you need a quick alternative to use in place of your company’s regular payment process.

So what are some examples of petty cash expenses in a business?

  • Petty cash expenses include office supplies, catered lunches, postage, cab fares or even a simple cup of tea/coffee.

Why is it important for you to maintain a petty cash book?

If these petty expenses aren’t documented in your books, a lot of money can go unclaimed. These little expenses can be of a significant amount in the long-run once they keep accumulating.

For example
: If a cup of tea/coffee costs Rs.10 per cup, it will be Rs.10,000 if your business has 10 employees for just 100 days in a year.

Other examples include:

  • To pay for small purchases which require cash, such as food for your employees or coffee supplies or a parking ticket
  • To reimburse employees for goods/items they have bought for your business.

By accounting these expenses in the petty cash book, it becomes easier for you to track tax-deductible expenses, making journal entries and also helps in separating personal expenses from business expenses.

4 Easy Steps: Setting up a Petty Cash Book

Step 1
: Add a petty cash book account to your books of accounts, if you do not already have one. Also, start a petty cash fund by drawing a cheque on your company to ’Petty Cash’ and cash the cheque.

Note
: If you are a small business with fewer people you may only need Rs.5000 in your petty cash fund. But if you’re a larger SME, you may need a larger fund. So based on the size of your business and your judgment as a business owner keep the contingency.

Step 2
: Place the petty cash from the cheque you cashed at a safe & designated location within your workplace (Example: a lockable drawer or a safe).

Give access to the petty cash fund to only a few people and assign the responsibility for refilling & recording the transactions of the petty cash fund to a specific person out of them.

Step 3
: Make a list of the expenses made out of the petty cash fund and keep the receipts of all the expenditures made attached to that list.

Step 4
: Refill the petty cash fund back to the decided and approved amount, as needed.

Format of Petty Cash Book for your business:

Petty Cash Book Format

Amount Received Date

Particulars Voucher No. Ledger Folio Expense (Amt. Paid)


Example:

The following transactions occurred in the books of GUPTA JI LTD in the month of May 2019.

May 2 – Cheque received for Rs.700 to open the petty cash book

May 3 – Postage paid    Rs.50

May 6 – Paid taxi hire of traveling employee (xxx to location Y)    Rs.100

May 8 – Paid cleaning lady   Rs.125

May 13 – Telegram sent to Delhi    Rs.40

May 17 – Cart hire paid on goods bought for business    Rs.60

May 19 –
Stationary purchased    Rs.120

May 25 –
Customer’s tiffin charges    Rs.60

May 31 – Settled the pending balance due to Smith    Rs.85

Amount Received Date Particulars Voucher No. Ledger Folio Expense (Amt. Paid)
Rs. 2019 Rs.
700 May 2 To Bank
May 3 By Postage 50
May 6 By Taxi Hire 100
May 8  By Wages 125
May 13 By Telegram  40
May 17 By Car Hire 60
May 19 By Stationary 120
May 25 By Tiffin Charges 

60
May 31 By Smith 85
May 31 By Balacane C/D
700 700
Rs.60 Mar 1 By Balacane C/D

Taking these easy but systematic steps when setting up your petty cash book will help you protect your daily expense cash flow, ensuring it is used appropriately and recorded systematically.

Categories
Marketing

How Blogging Can Help a Business Get More Customers

बिजनेस आइडिया

Content is King: Master the Art of Blogging to get more Customers

Getting customers to come to your blog and fall in love with your product requires time and effort but it is not an impossible task. Blogging for business is the new-age sensation that can help you get customers without much cost. This step-by-step guide will help you connect with consumers through blogging.

1. Don’t make the Blog a Sales Pitch

  • The objective of your blog is to generate business leads and project a profile that connects with the consumer
  • Advantages of blogging are that you can reach out to millions of people which is not possible using the conventional means of marketing
  • Do not use your blog to make sales, if you use the blog only for sales messages you will struggle to find readers
  • If you want people to come to your blog, make them understand what is in it for them. Become a mentor, give advice to your target consumers, build trust and help them achieve their goals

2. Develop Content that can become Viral
 

  • You need to create content that can be shared, is interesting and engaging so that traffic can be increased.
  • When blogging for business and creating viral content, make sure you start your blog with a catchy headline. 8/10 people click on the link that has an attractive headline
  • Get the length of your blog right- The blog should not be very small or too long- a 700-1000 word blog post can lead to a better conversion rate with more opportunities for SEO
  • Need an Out-of-the-box idea- Your idea needs to be new & innovative based on what the audience wants. This will help in making your content evergreen and likable
  • Short emotional videos or beautiful images can become hugely viral if it makes the viewer curious

3. Focus on the Opening and the Conclusion of the blog

  • After clicking on the headline when a viewer comes to your blog, the opening should hook him enough to go through the entire post
  • The opening paragraph should spell it out to the customer that the tips or steps in the remaining blog are going to change his life and will be beneficial for him
  • Close the blog on an inspirational note. Make sure your reader not only reads your advice but also encourage him/her to follow it so that the reader revisits the blog

4. Blog as often as possible
 

The advantages of blogging and that to frequent blogging are that more traffic will get generated. But make sure the quality and originality of the blog is not compromised. 

5. Include Call-to-Actions

Make it a point to include some kind of Call-to-Action in your post otherwise it is going to be a waste if you are looking to generate customers through this activity

6. SEO Optimization

  • Google is the undisputed king of generating organic traffic. One big advantage of blogging is that if you conform to the guidelines of Google you will get guaranteed traffic
  • Do your keyword research and create content that is SEO-friendly

7. Use Google Analytics

Sometimes you wonder why a particular post gets less traffic or why a specific offer’s conversions are low. When you are blogging for business, use Google analytics especially the behavior flow section to see how people react from one page to another.

8 Create an E-mail Follow up

  • E-mail allows you to build a connect with the reader and forces him to come back to your blog or keep in touch
  • When you send an e-mail once a week to the reader, you’re compelling them to visit you again and engage with you
  • Once readers understand the benefit of signing up, this will create an opportunity for you to sell

Blogging for business is not easy. You need to develop good content skills and understand the minds of the reader and potential clients. Once you know what the customer is struggling with, your blog post will hit a bull’s eye!

Categories
Marketing

Improve your Business Through Content Marketing

How Digital Content Marketing can Increase your Revenue

Content Marketing for business is a thought out strategy that helps you to build relationships, engage, and communicate with the customer. No longer are the audiences interested in direct paid advertising. In fact, data shows that approximately 11% of the global internet population is blocking ads online. Content Marketing helps in brand recall and achieves your business objective through powerful content generation. Here are some strategies that talk about the importance of content marketing to boost your business.

1. Better Return on Less Spending

  • There is a lot of cost difference between inbound and outbound marketing. Outbound or traditional modes of advertising cost much more than inbound or content marketing tactics
  • For smaller businesses it makes a lot of sense to explore this as they don’t have big marketing budgets
  • Marketing in the form of e-mails, blogs, social media, viral campaigns can help you get great return on your investment

2. Improves Brand Reputation

  • The customer is no longer interested in advertising & marketing which aims at direct selling, they want their brands to engage with them and give them content that they like and can share
  • With digital and social media gaining precedence, it is vital for businesses to build trust so that more leads are generated and can be converted into buyers
  • Devise content that immediately builds an emotional connect. There are times when social media influencers also share your content and it can become viral in no time leading to new customers

3. Localize Content for Better Conversions

  • When your content is interesting and shareable, automatically it leads to newer business prospects and engagement with a larger set of audience
  • For e.g. Pepe Jeans took the route of content marketing for their business. They increased the frequency of their social media posts and also localized the content according to specific geographies. The brand saw a boost of 48% in its engagement on social media taking the followers to 2 million. This sort of growth is not possible with a paid advertising approach

4. Boosting your Organic SEO 

  • Search Engine Optimization is a tool that helps you increase your visibility online. When you apply relevant content marketing strategies, it helps improve your SEO techniques as well
  • The more content you have on your website or blogs, the more pages the search engine will be able to show to the users increasing traffic on your web page
  • Search engines also smartly can differentiate between content that is valuable and content that has been posted only for the sake of putting in the keywords. Implementation of content marketing can also lead to consumers spending more time on your portal or pages

5. Content Marketing can help achieve Business Growth

  • If your content is good and is liked by the audience, you can consistently generate leads for your business
  • Make sure the content is posted regularly, is reliable and is fed into the system at every stage of the buying cycle

The importance of Content Marketing is now being realized by both small and large businesses. They are using different formats to create value through content for the customers. Content marketing for business is also cost-effective, generates traffic and builds an image that can help your business grow.

Categories
Marketing

How to Calculate Goodwill For a Business

Know your Goodwill to Increase your Company’s Value

Goodwill is an important part of building your business and is one of the hardest things to calculate. Goodwill of a business is an intangible asset, hence calculating its value can be tricky depending on the business and its success. 

To understand Goodwill calculation, let us first know what is Goodwill?

Goodwill of a business is a premium or an additional payment that a business gets over and above the market value of its net assets. Some of the factors that decide the goodwill of your business are- 

  • Reputation
  • Brand Image/Identity
  • Loyal Customer Base
  • Talent in the company
  • Positive cash flow with limited debt
  • Growth Prospects

So how do we calculate Goodwill? Goodwill Calculation can be done by 2 simple methods mostly based on the income:

1. Goodwill Calculation using Average profits

This is one of the simplest methods to calculate goodwill of a business. The formula for this is:

  • Goodwill= Avg. Profits x No. of Years

For e.g.- In this method calculate your average profits for the last 5 years and multiply it by 5. Taking 4-5 years as a ’goodwill window’ for a company is safe enough as it takes that much time for a company to build its image

Make sure you are not calculating goodwill of a business based on years that have seen abnormal profits or losses.

2. The other method for Goodwill calculation is to compute the Market Valuation and subtract net assets from this figure

  • Goodwill = Market Value- Net Assets

Get the business valued by an external accounting professional, financial expert or a business broker

Net assets include everything of value owned by the company, including property, inventory, vehicles, etc., minus any debts like bank loans or bonds

However if the payment includes things like stocks or a percentage of ownership in the company, the formula for goodwill calculation then becomes a little complicated:

  • Goodwill = Consideration transferred + Amount of non-controlling interests + Fair value of previous equity interests – Net assets

Here Non-controlling assets refer to a certain percentage in the company which is not big enough to exercise any control

The methods mentioned above are the most common formulas of calculating goodwill of a business. Calculating goodwill becomes extremely important when one is looking to buy, sell, or bracing for a merger or acquisition of a business. However, it is always advisable to consult professionals before taking this decision. 

Categories
HR & People Management

How to Evaluate your Business Performance

Evaluate your Business Report Card!
 

No business can survive without evaluating its business performance. Just like in school, how we review our subject preparation and how have we scored, businesses are no different. Once you have identified your market position and your hold, evaluating business performance will help you decide how to cross the next level. 

Reviewing your progress is useful in many ways: 

  • Helps you remove the uncertainty about how the business is performing
  • How to make the most of the market opportunities
  • Any revision needed in business plans
  • How to get the next set of customers 

Here are some criteria’s that can help you evaluate your business performance:

1. Look at your Financial Statements

  • There is no better way to evaluate business performance than to have a close glance at your income statement, balance sheet and cash flow.
  • You need to check the money flow of the business, this will give you an idea where you are losing money and which are the areas of improvement

2. Review your key business drivers- Sales & Profits

  • Evaluate is your sales target as per plan, which areas are giving you better sales and which are weak in numbers
  • This will help in finding loopholes where sales are dropping
  • Similarly, profitability is what keeps your business thriving. Steady profits with very low dips is a sign of steady growth.

3. Customer Satisfaction

One important principle to measure the success of small businesses is customer satisfaction. If the customer is not happy with your product or service chances are he is not going to come back again

There are a few ways of evaluating business performance on the basis of customer satisfaction:

  • Ask for feedback; analyze the ratio of positive to negative feedback
  • Take constant reviews, this helps in knowing what the consumer thinks of the product and can help you make changes for the better
  • Assess your customer acquisition cost, if you are getting more customers this should be on the decline
  • Keep a track of repeat orders, this shows that the customer is happy and is returning for your product or service multiple times

4. Be Updated about the Market & Competitors

  • Keep a close look on the market and keep evaluating your business performance with how the market is doing
  • If your growth has slowed down and so has of your competitors, chances are the market might be going through a slowdown
  • Everyone feels motivated when the tide is high, but if you find profits decreasing, don’t lose heart. It may be an indication to make some changes to your product, bring in some innovation and cut down unnecessary costs
  • It is useful to do a SWOT (strengths, weaknesses, opportunities and threats) analysis to find out more about what your competitors are doing currently and what the market is saying about them

5. Conduct Performance Reviews

  • Employees are your essentials- without them, the business can turn upside down. It is therefore essential to conduct quarterly performance reviews to evaluate business performance
  • A performance review helps you gauge whether the employee can handle additional responsibilities or is he unhappy about too much work being delegated
  • These reviews also help in maintaining a healthy competitive spirit in the company with everyone trying to give their best

6. Employee Training

  • Keep your employees updated about what is happening in the market
  • Organize skilling workshops and training sessions for them, so that the employees are satisfied with their skill development
  • Employee satisfaction and training can go a long way in enhancing business performance

Use this review to redefine your business goals and find answers to important questions like-

Where the business is going?

What is lined up in the next phase of growth?

A strategic analysis to evaluate business performance needs to be done on a constant basis if you want to be relevant, successful, and take your company to greater heights.

Categories
Startup

How to Make Your Startup Into a Large Business

दिल्ली में युवा उद्यमियों को बड़ा मौका
दिल्ली में युवा उद्यमियों को बड़ा मौका

3 Secrets that you must know to Boost your Business

While on your journey from becoming a startup to a large company, strategic decisions need to be taken to scale successfully. You have to invest your time and effort to reap the benefits. It is a necessity for the survival of your business & your economic well-being. Here are some key investments that need to be made while growing your business.

1. Invest in People

  • Employees are the backbone of your business, hence prioritize your team!
  • While it might be difficult for entrepreneurs to hand over control of some aspects of their business, doing so is necessary when growth is the goal
  • By Investing in people you are opening doors to great business opportunities. It helps you build a solid reputation in the market as you will attract the best talent from the industry
  • Provide learning and growth opportunities to your employees so that they feel empowered to take on new roles and responsibilities
  • Always remember happy employees will lead to happy customers. A motivated employee will work hard to build relations with the customer
  • Listen to your employees. Giving orders or lectures on what the company wants to achieve or where it is heading will not work anymore. The employees have a lot of insight about the company and its business function hence their ideas need to be heard.
  • For e.g. Virgin in the U.S had asked their employees to give suggestions on how to improve their cruise ship Virgin Voyager. One of the customer associates came back with a feedback of onboarding a celebrity chef to design a special menu for them. The employee knew that the chef was already a frequent traveller by the Voyager and would be happy to do this. This helped in making the Voyager menu a hit with its customers
  • Reward and give recognition to your employees regularly. Any achievment should be applauded not only by the reporting manager but the CEO as well. This makes the employee feel wanted and motivates him to work better

Investing in People is absolutely integral when it comes to growth of your business 

2. Invest in Processes

  • In order to scale from a startup to a large company, operate more efficiently and achieve insightful data about consumer behavior, a business must invest in process management
  • Move towards Business Process Automation for better employee and customer experience and most importantly streamlining business functions. In fact, if you don’t automate, the cost of that would be incredibly high!
  • Companies without good business process management and automation are likely to underperform and run into issues that could have been avoided
  • Process management leads to accuracy and better communication within the organization
  • While larger enterprises are aware of the importance of business data, small to medium sized businesses tend to oversee this significant aspect that impacts business performance. Investing in Business Process Management will help in centrally storing all business critical data
  • Companies can make that plunge from a startup to a large business if Business Process Management and Automation are treated as two of its important pillars

3. Invest in Technology

  • Technology today plays a direct role in affecting your topline, what you need to know is what tech is best for your business, how the implementation cycle will take place and finally the execution
  • When we say ’Invest’ in technology, don’t treat it like a pure cost to the company. It will yield returns and hence treat it as an investment for growth
  • Embrace and learn social media to increase your sales. Social media can help you interact with audiences around your product offerings and therefore help in increasing traffic to your website or YouTube channel 
  • Choose the right platform and community you want to interact with and then create a strategy around it to engage with them through useful and interesting content. This will force them to visit your page, again and again, leading to growth.
  • Use technology to streamline your business. Investment into software for Financial computation, Inventory management, CRM Management will help in making business processes easier and the customer interface seamless
  • Take a decision if you want to invest in technologies like the mobile app or take your business on cloud depending completely on your product and business model

Every business owner wants his company and idea to grow and become a powerhouse of income generation and following this three-pronged approach you can grow your startup into a large business. 

Invest in People

Invest in Processes

Invest in Technology

And let your business skyrocket!

Categories
Powerful Personalities

10 Reasons Why Entrepreneurs Get Motivated by Dr. Vivek Bindra?

Dr. Vivek Bindra has touched the lives of millions of people helping them improve the quality of their lives and for entrepreneurs he has helped them lay the foundation of growth & success in their business. Here is why Indian Entrepreneurs love & follow Dr. Vivek Bindra

1. By inspiring people to bring about a change in their lives and achieve their business goals, Dr. Vivek Bindra has become Asia’s no.1 Motivational Speaker and Business Coach.

2. Dr. Vivek Bindra works on ground level problems of entrepreneurs understanding their pain points and giving solutions through real-life examples and case studies to ensure their problems are put to ease.

3. He has organized various seminars and events like the Leadership funnel, Bounce Back and the very successful Everything about Entrepreneurship Summit, wherein he done’s the role of a motivational speaker and business coach to solve the burning problems of the entrepreneurs by giving powerful tips, strategies and frameworks that could benefit their business.

4. Indian Entrepreneurs watch Dr. Vivek Bindra’s videos and implement his strategies to grow their business through his Youtube Channel also termed as a “Free Digital University” on Entrepreneurship. Dr. Bindra’s Youtube channel is the World’s No. 1 subscribed channel on entrepreneurship with a follower base of close to 12 million.

5. Dr. Vivek Bindra ensures to give actionable and executable examples which motivates the Indian entrepreneurs and leads them to successful business strategies that are straight away implementable.

6. Indian entrepreneurs get motivated by Dr. Vivek Bindra because of his Hindi Content based on Bhagavad Gita which connects with the small & medium entrepreneurs. Hindi language is understood by every tier 2, 3 & 4 entrepreneurs making him easier to understand the business strategy. On the other hand the inclusion of the principals of the Gita helps in giving reasoning behind every point that has been spoken.

7. His vision is to empower entrepreneurs in a manner that can help them expand their businesses not only in India but around the world. This will help in making India economically stronger; by taking our country ahead on the path of becoming a developed nation.

8.  Dr. Vivek Bindra’s energy and style of delivery make him the best motivational speaker in india. Delivering relevant and lots of content in less time is what the business owners prefer as he values everyone’s time and money.

9. His followers love the fact that practical solutions to the most common and prominent business problems are provided keeping the bottom of the pyramid entrepreneur, the ‘Real Bharat’ business owner in mind.

10. Dr. Vivek Bindra’s personal story of becoming an entrepreneur and tasting success resonates with the business owners and motivates them to follow his journey and get inspired by his thought process.

Dr. Vivek Bindra is a motivational speaker, a thought leader and a successful entrepreneur. He has also been awarded an Honorary Ph.D. Degree, Doctor of Philosophy. He is a Trusted Advisor to 1500+ corporates and an inspirational pathfinder to various high-profile entrepreneurs and business entities providing leadership excellence for taking their organizations to the next level. He has been instrumental in providing CEO coaching to over Top 100 CEOs in the country. He has been conferred with the ‘Best Leadership Trainer in Asia’ Award by Marshall Goldsmith at the World HRD Congress. He is relentlessly working towards his mission of empowering Indian businesses by sharing management solutions & strategies for their burning problems. Not only are Dr. Vivek Bindra’s principles, strategies, solutions and content very different from other motivational speakers but also his energy and that’s what makes him better than the rest and a business icon for Indian Entrepreneurs!