Tag: dr.vivek bindra

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Strategy

3 Buzz Marketing Strategies For Startup Business!

3 Buzz Marketing Strategies For Startup Business!
3 Buzz Marketing Strategies For Startup Business!

Summary: Buzz marketing is not about creating buzz randomly. There is a complete science behind it.

The internet gets disrupted now and then. And finding ideas to promote a new product or a whole new startup business in a digital world where trends keep changing every minute is quite challenging.

However, the first thing you must need to know about buzz marketing is that generating buzz is not at all a random act. There is a science behind it that gets people to talk about your products and services. And we mean making real people talk about your products and services, and not just creating awareness regarding it.

You need to learn how to give people something to talk about if you want them to discuss your products or services consistently. If you want in-depth knowledge regarding marketing and its various branches, you can take online business courses for entrepreneurs.

In this article, we will tell you three ways that will get people talking about your startup business. Let`s begin:

1. TABOO

People love to talk about things that either align with their mindset or are totally against it. Taboo is the first button that can be easily pushed. People tend to talk about the things they shouldn`t talk about. So topics that are controversial that can give people something to dispute, debate, or argue about. You can watch this amazing video by Dr. Vivek Bindra where he shares some great marketing tips.

2. THE UNUSUAL

The unusual or the unique content is something that stands out from the crowd. It is a widespread technique with social marketers and is relatively easy to apply. The catch here is to give your target audience something unusual.

If you follow what everyone else is doing, you will lose your USP and you won`t be able to attract the audience. People won’t talk about your products and services, and you will end up being a part of the herd. Think out-of-the-box and let your creative juices flow that will catch the attention of your potential customers. You can take a digital marketing course, a specialized online course for entrepreneurs to gain in-depth knowledge.

3. THE REMARKABLE

Ordinary things don`t get attention from the crowd. However, doing an ordinary thing remarkably can get people talking.  In this technique, the aim is to do something exceptionally well and at an extremely high quality. If your competitors create average content, you need to incorporate a fresh concept.

The above-mentioned three strategies can help you to create buzz about your new product launch or services. If a hotel gives a good customer experience, no one tells anyone about it. But people do talk when they receive a service that is beyond extraordinary. So use the strategies mentioned above and see your target audience discussing your business.

You can boost your sales easily with the right guidance from a business expert.  Learn to generate high revenue earning products for sales, generate payment links for customers, managing account-related details. Get your marketing game back on track. Grow through self-learning and see your website traffic increasing with marketing collateral designed especially for you. Learn more here: www.badabusiness.com.

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Process & Business Expansion

5 Ways To Make Your Product Launch Successful

5 Ways To Make Your Product Launch Successful
5 Ways To Make Your Product Launch Successful

You have a unique idea for a new product that will magically resolve all the challenges that customers in a particular segment are facing. You create a killer product that may bring a revolution to the world. Now you want the entire world to go crazy to purchase it (think about people standing in a queue to buy an iPhone).

But none of that happens, and you get up with sweat beads all over your forehead. All of your hard work and efforts that you have put in to create a product now appear futile. Isn`t it terrifying?

It is extremely easy to get ahead of yourself when you are trying to create a new product. Envisioning all the sales, profits, recognition, and success that will emerge after your product launch can often take us away from reality. But just like any other business initiative, a product launch also requires time and careful planning says the Best Business coach in India –Dr. Vivek Bindra.

And, launching your product in the market without having your ducks in a row is a recipe for disaster. Thus, if you have created a brilliant product after investing your hard-earned money and efforts, here are five steps every entrepreneur should take before releasing a new product:

1. Be Strategic in Defining your Target Audience

Whether you are creating the new iPhone or a food joint, it is important to find and learn from your core audience. Establish your base and build their confidence in you.

As you prepare for your product launch, research your competitors. Learn from your competitors as there are no original ideas, only repurposed ones. Take what is good, learn from their mistakes and make improvements where you believe there is room for improvement.

2. Go All Out When It Comes to Publicity

Obscurity kills businesses. If you do not shine like the sun when it comes to publicity, you won`t get the attention that is needed to be successful. Before launching your new product, ask yourself two things-

a). How far will I go to get attention?

b). How consistent will be my attempts?

If you will not go overboard when it comes to marketing your product launch, you will not get your customer`s attention. Also, having a thorough understanding of the challenges that your product or service is solving is imperative to your business growth. Make them your Unique Selling Points while advertising your products. You can also take online business courses for entrepreneurs to learn more about advertising and marketing.

3. Be Clear & Concise About Your Target Audience

If someone asks you, “Who is your target audience?” you should have a concise answer. Otherwise, it’s a red signal! Being an entrepreneur is not an easy deal and thus, it is suggested that you should research well about your target audience.

Apart from knowing your audience, you must be well aware of your product`s value. Take testimonials from your customers who have had success with your products as it can help you for make improvements.

4. Trace & Understand the Buyer`s Journey

What is the foundation of all the marketing and sales activities? The Buyer`s Journey! The process that revolves around the buying process forms the basis of all the activities related to marketing. Thus, it is essential to understand the customer`s pain points, from where do they get their information, and what influences their decisions while making a purchase.

5. Focus on Major Media Outlets

Attention is the currency of the internet. The average person consumes an enormous amount of information daily. To hold someone`s attention, cut through the noise. Develop the right media strategy that is suitable for your product launch. Pitch yourself as an expert and focus on high-profile media outlets. However, your pitch must have a sensational hook with actionable advice.

Also, do not just use the traditional medium of advertising. Use the power of social media and create hype to engage customers. Make strong brand guidelines to ensure you got the powerful one. Make use of social media platforms to generate interest among your target audience.

Another brilliant way to create a buzz around your product before its launch is to reward your customers. Offer discounts for preorders, first-time users, or anything else that can entice users to buy your products when they are launched.

Launching a new product or service is not easy! There are lots of steps involved that can have a great impact on a product launch. These steps can make or mar your product in the niche market. Know what is best for your product or service with our Problem Solving Courses.  To know more about it, click here: https://www.badabusiness.com/psc

Categories
Startup

4 Advantages Of Hiring A Business Coach For Startups

4 Advantages Of Hiring A Business Coach For Startups
4 Advantages Of Hiring A Business Coach For Startups

Summary: Many small business owners often get skeptical about consulting a motivational coach. But very few know that finding the right business coach can increase your odds of success.

In today`s world just like startups, business coaches in India are increasing as fast as leaves growing on trees in the spring. Even in our network, we must have come across someone who is either a business motivational speaker or know someone who is working as one.

Many people are turning towards starting their own startup business. They have a business plan in place, have raised funds, and learned the dynamics of the business world. However, with the right guidance and support, they can surely accelerate the process. That`s where a business coach comes in.

According to a recent study by SCORE, “mentored businesses were 12% more likely to remain in business after one year and around 87% of small business owners who consult a business coach are likely to stay in business after one year as compared to 75% without a mentor.”

So if you are still scratching your head whether you should like to consult with a motivational speaker, here are highly beneficial results you can obtain by hiring a coach for your startup business:

1. Gives Goal Clarity

A great coach can help you identify your professional and personal goals. A good mentor can help you gain an understanding of various aspects of your life and can make a massive positive impact on your business and your life.

Working with a motivational coach for entrepreneurs can give you incredible insights into what you want to accomplish in your business and life.

2. Helps to Attain Balance Between Life & Business

Everyone has a personal and professional goal. But very few manage to meet them because it is quite difficult to stick to the plan until objectives are met.  If you have identified your goal, the next challenge that everyone faces is to accomplish it without sacrificing our health and personal life.

As an entrepreneur, the journey becomes more challenging as they have to juggle various roles in their personal as well as professional lives. A business coach can truly help you to focus on the essential steps and processes and filter out the rest of the noise to reach your objectives. He can also help you to define a path and pace that is apt for your business without compromising your personal life.

3. Finds Pitfalls & Guides to Overcome Them

A good business motivational speaker is part guide, cheerleader, and warden. He or she has the expertise to analyze and find pitfalls in your business model. He or she will always be there when you lose a sense of direction or feel stuck.

A mentor knows when to encourage you and cheer for you and when to hold you accountable to accomplish your goals. Their impartial view of business helps them to call you out and help you to break the old pattern that might keep you and your business stagnant.

4. Supports You

Having support and a team especially when you are starting something new is incredibly critical to the success of your business. Many entrepreneurs do not get the support of their families or friends. In this situation, a motivational coach for entrepreneurs can prove to be a great support system. With his years of experience and wisdom, he can provide a magical competitive advantage to small business owners.

Finding the right business coach or mentor can help you to grow and scale your startup from the scratch. Yes, you will have to put your best efforts in, but a mentor can help you that it is going in the right direction. Hiring a business motivational speaker will help you to bypass multiple dead ends while helping you to discover a clear path to success.

Having a compelling marketing idea is great. But you know what is even better? Personal guidance to increase your brand presence consistently to facilitate sales, engage your customers and close leads.  You can hire the best business coach in India Dr. Vivek Bindra to get the guidance that your startup business needs.

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Business motivation

4 Golden Tips To Transform Your Small Business InTo A Large Business!

4 Golden Tips To Transform Your Small Business InTo A Large Business!
4 Golden Tips To Transform Your Small Business InTo A Large Business!

Summary: Want to transform your small business into a big brand? This article is just for you.

Running a small business is challenging! One has to reinvent the wheel of strategies, don multiple hats, play distinct roles, and provide exceptional service to clients. All this, while also ensuring that the small startup business is on a growth path.

So if you are a small business owner who wants to scale your dream venture, you can transform it into a large business by following the tips given below without losing money and your sanity:

1. Be Seen & Known

No business can expect growth if it is not known. A customer will only buy your products when he or she is aware of the range of products that you sell or the services that you offer. To scale, your brand needs attention and you need to generate enough awareness to own the entire market. Whether it is through podcasts, videos, ads, articles, or paid marketing, you will need to spend time and effort to build awareness for your brand.

2. Hire Right People

Scaling a small business is about building creative strategies and hiring the right people for a particular job. You can also take guidance from the best business coach Dr. Vivek Bindra. Though rapid growth can be difficult for any business, one can take two steps to achieve it. First, focus on your supply chain. Always ensure that you have enough stock to keep up with an influx of orders.

Second, invest in the right leaders and managers to help you. Hiring the right human resource for a particular department or a specific role is essential. To properly scale and maintain that growth for your small startup business you will need a productive and high-performing team.

3. Build Proven Business Concepts & Systems

Every entrepreneur dreams about scaling his startup venture. However, it is essential to ensure that you are working on a proven business concept. Gambling on an idea that is not well-thought or isn’t working will burn cash fast. But there are two ways to scale a winning concept.

First, hire amazing people who are ready to share the load. Don`t take all the responsibility on your shoulders. Start delegating, and with the right people, you can do it easily without having to keep a double check if the work is getting done.

Second, build automated systems. Tasks that are repetitive and require human involvement should be automated. You can reduce these manual tasks by incorporating automated processes and tools that can help your team to collaborate and plan.

4. Focus on “Who” instead of “What”

Transforming your small startup business into a big business is not that easy. But taking your first step towards it is. One of the biggest mistakes that small business owners make is focusing on ‘what’ their business requires, instead of thinking about ‘who’ their business needs to grow. The most essential ingredient for sustainable growth is always a “who”, not a “what”.

Start by listing out all the tasks that you enjoy the most, you excel at, and that also impact your bottom line the greatest. These are the tasks that you should be focusing on more. Now, make another list of the tasks that you do and take up your considerable amount of time. These are the tasks that are diluting your focus and hindering your business growth. You can hire people for these tasks.

Next, make another list of the tasks that are important for the business growth, but are not getting done. If you need to create a position for this, do it. If you have to hire a person, hire one. Don`t be afraid to start small. If you don`t have the budget, you can hire a part-time employee or a freelancer to get the job done. How to hire the best talent for your business? You can take a business coaching program to understand the nuisance of distinct departments of an organization.

Scaling a small startup business is not a very easy task. The grind is real and hard. You will have to play different roles at the same time for a long duration. To get help from an expert, you can take a BCP Bada Business or LFP Bada Business.

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Startup

3 Ways Business Coach Can Help Your Startup To Succeed

3 Ways Business Coach Can Help Your Startup To Succeed
3 Ways Business Coach Can Help Your Startup To Succeed

To make a startup business a successful one in a short time, as much as a great leader, a good business model, and a good team- the best business coach is also needed. A business coach with good experience gives good direction to the business. With his clear understanding and sharp vision, he also works to give better leadership to the team along with the leader.

But many entrepreneurs often wonder if it is the only reason for which they need a business coach? So, in today’s article, we talk about why an entrepreneur needs a business coach and what are the main things that a great business coach can bring to any startup business or even a large organization.

1. Goal Identification and Clarity

Entrepreneurs may know many nuances of business, but every entrepreneur needs a guide to identify his or her professional goals for a clear vision. The best business coach in India can help you in clearly defining your goals. A corporate trainer is a person who plays a unique role in identifying your goal and bringing clarity to it. An entrepreneur needs to be focused and clear towards his goal, his concentration and clarity only enable him to overcome the difficulties in business.

Despite having a good business model, if an entrepreneur lacks clarity of his goals then he cannot make that business model successful. A business coach helps you to start the business by bringing minute details related to your business model to your notice. This helps you to build a great business model for your startup venture.

2. Your Business Gets Expert Advice

Not every entrepreneur needs to have the efficiency of the business. If you are an entrepreneur, you don’t need to be an expert in every field. Many times, due to a lack of correct information on any subject, wrong decisions are taken in the business, which can directly affect your business. But if you have a business coach then you can remove whatever chances you have of making wrong decisions that can ruin your business. A business Trainer in India is no less than a technician for your business. You should have expert support. If your business is in the initial stage, then having a business coach can help you climb the ladder of success. If the mistakes of the beginning take a toll on your business, then it becomes a little difficult for you to run the business smoothly. That is why the expertise of a business coach is very important in your starting business.

3. Business Coach can Help You Achieve Goals

A business can only be successful when every member of your team along with you should are very much aware with your business goals. The business coach first understands your business goals and then tells you the techniques to achieve them easily. It works to improve your business planning by catching those weak links, which can harm your business in the future. The methods and strategies suggested by Business Coach add life to your business and also work to connect your clients, employees, and business partners with your business for the long term.

Only a good team takes the business forward and a great leader takes the team forward. A business coach inculcates those leadership qualities which are needed in a good leader and entrepreneur.

Many such startup businesses in India started and closed after some time due to a lack of good strategies, expertise, and guidance. But there are some other businesses as well, which have emerged as examples in the industry. They have set the benchmarks with their success milestone. With the help of the best business motivational speaker in India, you too can make your business successful.

The idea of managing a business is easier said than done and we completely agree with you. This is why to help you move forward with your business goals, we at Bada Business offer an exclusive Business Coaching Program that comes with Foundation courses, specialized courses, and value-added courses.

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Leadership Building

5 Simple Traits To Help You Become A Powerful Leader

5 Simple Traits To Help You Become A Powerful Leader
5 Simple Traits To Help You Become A Powerful Leader

Summary: They say leaders are born. But, we say that leaders are made provided the right guidance and expertise.

Being great seems like an easy job. Many people say that great leaders are born and too many it appears like a straightforward job because there are no hidden secrets in it. But, while many leaders think that great leadership consists of simple things, only a few implement them because the rest of the people forget about them for some reason.

If you are an entrepreneur who wants to hone your leadership skills, you can join Leadership Funnel Program by Dr. Vivek Bindra. It is the most powerful flagship program in India that has benefitted many people including top management leaders from large organizations.

Here are a few tips that can help you to sharpen your leadership skills:

1. Be Kind, Be Human

Many leaders often forget that they are dealing with real human beings who have unique stories and backgrounds. Every unique individual has his or her share of struggles, challenges, and breakthroughs. For many managers and leaders from the top management, people at work are nothing more than man-hours who need to be managed and optimized.

Your team members always know what value they hold for you. And a man-hour will never help you to overcome situations. Hence, never forget that you are dealing with real humans and not bots.

2. Sharpen your Managerial Skills

Directing people is not something that comes naturally to any one of us. It is an art to co-work and co-exists happily at the same time. Fortunately, we have a lot of amazing programs like the Leadership Funnel Program that offers expert advice and guidance to help you become a powerful leader.

As a leader, you will need to defend the interests of your company but you will be able to do it only when you are aware of the theory of negotiations and understand the psyche of the person you are talking to.

Reading books can be another medium to become better at your managerial and leadership skills. You can begin by reading about psychology, the structure of thinking, negotiations, hiring people, project management, marketing, and economics too.

3. Have In-depth Knowledge

The best way to win authority is through your expertise. You need to understand the things that you manage, and this golden rule applies to every stage. For instance, to lead a creative team you must have a fair knowledge of typography, graphics, color coordination, and some of the most popular tools like Photoshop, coral draw, and Illustrator. This will help you to talk with the people in their language.

Without knowing the things you are managing you can`t do value addition. Without an understanding of what you manage, you will not be able to assess the risks, costs, and timing.

4. Admit Mistakes (Your Own & Others` too)

If something goes wrong, you should have the integrity to accept your mistake gracefully. If you will try to dodge the bullet, you will only be deceiving yourself and no one else. More than that, you will immediately lose your authority within the team.

Accepting your faults publicly can truly have a magical effect. This will give your team a clear understanding that it is okay to make mistakes and that making mistakes is normal. But, what is more, important is to learn from them so that they are not repeated shortly.

Once your team will understand it, they will be more open to experiments, and they become more courageous in their work, take responsibility, and more risks.

5. Protect Your People

To earn the respect of your team members, you have to be the shield that takes all the impact. No one in this world should have the right to influence your team past you. If someone wants to criticize your employees, let them do it to you and not directly to your team members.

One of the best things that will help you to become a great leader is, to be honest with your employees. Whether you are planning to give them a pay raise or thinking about closing down a particular product or the entire company, communicate with your employees honestly. Always remember that a transparent culture in an organization is always better.

Want to become a powerful and influential leader in your field? Join LFP Bada Business today!

Are you looking to find solutions for your burning problems? Get practical solutions easily with our step-by-step learning strategies, action plan, frameworks that are designed to empower you with various business functions via Business Coaching Program.

We hope this blog must have helped you to understand a few aspects of the business. If you like our blog section, you can share your comments with us in the section below!

Categories
Process & Business Expansion

5 Ways Small Kirana Store Owners Can Make Big Profits In 2022

5 Ways Small Kirana Store Owners Can Make Big Profits In 2022
5 Ways Small Kirana Store Owners Can Make Big Profits In 2022

Summary: With Grofers, Big Basket, and now Flipkart and Amazon delivering daily groceries many small Kirana owners are worried about their sustainability. But do they have to worry about the future of Kirana stores? Let`s find out.

India has always been a country in which two contrast opposite worlds coexist. One world belongs to the top 5 percent that only talks about luxury cars, boutique hotels, and bungalows, while the other half belongs to five-rupee biscuit packs and one-rupee shampoo sachets.

This stark reality also supports the recent study by EY according to which 79% of Kirana stores in non-metros and 50% in metros saw new customers amidst the pandemic and even after that.

A Kirana store is the backbone of the Indian grocery market. And when the world was grieving under the pandemic these stores have proved extremely beneficial to keep our plates filled with food. A Kirana store is like a departmental store that caters to the need of the daily essentials of people. It is mostly present on every corner of the street.

According to The Hindu, there are around 12 million neighborhood Kirana stores that dominate the domestic grocery retailing landscape of India with a 90% market share. During the pandemic, they have emerged as heroes, with people depending on them to procure daily essentials.

Another study by EY states that 20% of Kirana stores are also embracing digital platforms to order their supplies.

Kirana stores will remain evergreen as most of the people in India still rely on their local grocery stores for essential needs. Though many eCommerce brands are swearing by the innovative direct-to-customer marketing in retail, the fact is that it was local Kirana stores that have traditionally serviced the daily needs of the customers directly.

However, many Kirana store owners are still working on old and traditional methods due to which they are struggling with sales and customers.

So, if you are planning to open a Kirana store, or already have one, 2022 can open a store of opportunities for you. Here are five ways in which Kirana shop owners can increase the profits of their small businesses in 2022:

1. Embrace Technology

The pandemic has shown a new direction and world to businesses and customers too.  Almost everyone prefers digital transactions as they do not want to expose themselves courtesy to infection. Today, when everything is available online, taking your Kirana store online can be a profitable scheme.

The online Kirana store is not a new concept. Many Kirana store owners have started selling their products online. Taking their Kirana store online provides a wide exposure and helps to boost sales as it allows customers to place orders from the comfort of their homes.

2. Create USP

Owing a Kirana store means facing a lot of competition. Hence, to ensure that your store keeps up with the competition, you must give your customers a unique experience that they don`t receive at other stores.

In a Q&A session with Dr. Vivek Bindra- the best motivational business coach in India, a Kirana store owner asked him how to increase his sales. To which he replied that he should create a unique selling point for his business. One option could be that most of the Kirana stores remain closed on weekends. This is a perfect opportunity for you to attract customers and improve your sales. While other shopkeepers would be busy sleeping or enjoying their weekends, you can boost your sales.

3. Build a Website for Your Store

To gain more customers, you can also list your Kirana store on various online shopping websites like Amazon and Flipkart. You can easily register your store online, and if anyone purchases a product, you can parcel the same to them.

Apart from listing yourself with giant sellers like Amazon, you can also create a website online. This will give your regular customers the convenience of ordering from the comfort of your home. If you already have a website and still you are struggling when it comes to scalability, you can also consult with the best business coach in India.

4. Focus on Customer Relationship

Relationship with customers is the key to higher sales. And, building a relationship with customers ensures that they do not go to your market competitors. Talk to your customers nicely, and give them a unique experience so that they come to only your shop. You can also offer discounts on various products, as it is the best way to attract customers.

Understanding your customers is important in any business. If you are the owner of a Kirana store the above-mentioned tips will help you to boost sales. You can also upgrade your Kirana store into a departmental store with zero to low investment.

You can boost your sales easily with the right guidance of a business expert.  Learn to generate high revenue earning products for sales, generate payment links for customers, managing account-related details. Get your marketing game back on track. Grow through self-learning and see your website traffic increasing with marketing collateral designed especially for you. Learn more here: https://www.badabusiness.com/psc

Categories
Business motivation Strategy

5 Exceptional Ways To Collect Testimonials From Customers

5 Exceptional Ways To Collect Testimonials From Customers

Summary: Testimonials are the best way to build trust among customers. But many entrepreneurs shy away from asking their customers to give feedback. Discover five ultimate ways to collect testimonials.

Everyone loves compliments. It is a gift that nobody in this entire world gets tired to receive. Not only they are free, but they are also valuable. It keeps on giving emotionally, mentally, and professionally too! Yes, you heard that right.

Quote someone as saying that your service or product was incomparable to the line of choices available in the market, or you helped them double their income and scale their business and your chances of getting more customers for your business increase.

In fact, according to a survey conducted by Bright Local, “92% of customers say that they read online reviews before purchasing a particular product.”

Many entrepreneurs often ask the best business coaches about the right way of asking their customers for testimonials because they feel so nervous that they avoid it altogether. Most often a great testimonial can help you get a lead or convert a potential customer into a loyal one.

So, if you are looking for not-so-expensive ways to promote your brand and increase its credibility, here are five ways in which you can collect a reservoir of testimonials starting today:

1. Check Your Facebook Reviews

If you are a startup, it means you must be having a business page on Facebook too! And Facebook is the first place where you should look for the reviews that your customers have given you. Facebook testimonials can be quite detailed and can highlight what your business does in an ideal way.  So, if the comment section is vacant, it is time to ask your customers for their testimonials.

Talk about what you do everywhere. Get into conversations with people and offer them solutions for their problems. You might have to step out of your comfort zone to ask for a testimonial after offering your product or stellar advice.

2. Ask the Right Questions

Would you recommend us to your friends and family? Did our products satisfy you?

If you want great testimonials then you have to ask creative questions. Questions that can be answered with a simple yes or no must be avoided at any cost. Instead, ask questions that require a bit of engaging explanation. For instance, you can ask your customers what are some reasons you would like to recommend us to your friends and family? Or How our products have changed your life?

The best business coach in India Dr. Vivek Bindra suggests that a customer wants a product that has a relative story attached to it. And while asking for a testimonial you should encourage them to share their journey.

3. Stay in Touch Throughout the Process

Most often startups send a feedback form to their clients at the end of their journey and try to pull testimonials out of them. But Dr. Vivek Bindra recommends staying in touch with your customers through their journey with you. Keep asking them what is working for them and what is not.

When you stay connected with them, you can have testimonials that show their experience at each stage of the process.  If you will wait until after you have finished serving them, they may not be able to remember the details accurately. So, it is important to capture the correct information at every stage.

4. Pull from Various Formats

Gone are the days, when the only way to get testimonials from your client was by sending them a feedback form. Today, thanks to so many platforms you can get creative while asking and showcasing your testimonials.

If a customer sends you a message on Instagram, take a screenshot and share it. Got an email from a client gushing about how his or her sales grew into a double? Save it. Just be clear with your clients that how important it is for you to know their experience and always tell them that you would like to share it. Always give them the option of excluding their name.

5. Never Stop at Just Three or Four

Would you love to see hundreds of testimonials from happy customers or would you rather see just a handful? Numbers are important. It shows that the products have been used by various customers and not just a few. This helps to build credibility, even if you don’t have long and elaborated testimonials.

Testimonials are pure love from your customers that also stand witness to the goodness that you offer through your products and services. The more the merrier. So, use the above ways that will help you to get testimonials from your clients.

You can boost your sales easily with the right guidance of a business expert.  Learn to generate high revenue earning products for sales, generate payment links for customers, managing account-related details. Solve your problems in just one click: https://www.badabusiness.com/psc

Categories
Startup

How To Automate Business Processes & Why Is It Crucial For Startups?

How To Automate Business Processes & Why Is It Crucial For Startups?
How To Automate Business Processes & Why Is It Crucial For Startups?

If you have a small startup business with 3 or 4 employees then the automation of business processes is a low priority. But if your business has more than 10 employees, then your company needs to consider a few must-have processes and take a hard look at which business processes can be automated.

Why every startup business needs a process?

When a business is small, there is less possibility of making mistakes. But when you think about scaling, some of the tasks that are repetitive and are done manually they need to be automated. Automation can improve efficiency. Business automation of a few processes can also reduce errors that come with business expansion. If you are confused, you can also take help from the best business coach in India Dr. Vivek Bindra to understand the concept in detail.

So what are some strategic ways to automate business processes? And which processes should be automated first? Well, we are going to answer all your queries.

But first things first!

What is business processes management and why your startup needs it?

Processes are the heart and soul of a successful business. Business process management is how you effectively manage all the processes. It impacts multiple teams and employees as all the activities in your company happen as processes. When you start taking processes seriously, a BPM becomes a tool that can help you achieve your business goals.

Business process management is a practice of managing all business processes that help to achieve an outcome. It is an ongoing activity that helps to identify key areas that need improvement.

Business process management works in multiple forms. Though some processes can be completely automated, others need human input for making decisions. Here are three types of business process management that every organization must have:

1. Human-centric BPM

As the name defines, this type of business process involves human inputs. The decisions are made by humans and most of the heavy task is performed by humans. The scope of the business automation process is limited here.

To help employees understand and manage the process easier, it offers a visual interface too. Since this process impacts employees directly, this process needs more attention as compared to others.

2. Document-centric BPM

A document-centric business process is built on the foundation of a particular document. The main agenda is to send the multiple approvers who are involved in the process and get it approved. The document-centric BPM helps to reduce the need for emailing documents back and forth and increases efficiency.

3. Integration-centric BPM

The integration-centric business process management is centered on the integration of different software systems. Its main focus is on creating a smooth flow of data between the networks and software tools.

Now, when you are well aware of business process management, which processes should be automated first? Here are 3 ways in which you can automate critical processes in your business:

a). Find Functional Areas of Operations- Though it may sound tempting to replace roles with artificial intelligence to save cost, that is not how automation works. Human intervention will remain imperative. So, identify functional areas in your business that may have opportunities for improvement. This may include accounts payable, sales teams, inventory management, customer service, and other areas of business operations. You can also get the guidance from an expert or the best business coach in India to help you find areas that needs to be automated.

b). Create Standard Operating Procedures- SOPs as popularly known is a document that explains the exact steps to carry out a certain task and complete the responsibilities within a role. And many business coaches advice to create SOPs by employees for their designated tasks. To work smoothly, a process needs to be clearly defined with steps and actions to take.

c). Identify Repetitive Task– identify tasks that are repetitive and exist within the roles of each department. This will help you to gain perspective in areas where you are most exposed to risks or operational deficiencies. Go through the SOPs that your employees have created. Spend the time to complete tasks according to SOPs to weed out the repetitive tasks.

A successful businessman needs an efficient team and organized business activities. If you need to reduce expenses and focus on your core business by making processes and introducing business automation.

Are you looking to find solutions for your burning problems? Get practical solutions easily with our step-by-step learning strategies, action plan, frameworks that are designed to empower you with various business functions. Solve your problems in just one click: https://www.badabusiness.com/psc

Categories
Finance

5 Smart Ways To Eliminate Debt & Grow Your Small Business

5 Smart Ways To Eliminate Debt & Grow Your Small Business
5 Smart Ways To Eliminate Debt & Grow Your Small Business

If you ask any small business owner or entrepreneur to name their foremost hardest challenges that don`t let them sleep in the night, they will say without a second thought- money!

Paying off debts, growing business, increasing profitability, and achieving financial freedom are a few challenges that SMEs and MSMEs often face. This was true before the pandemic, but after it, it has become even more crucial for entrepreneurs to overcome money challenges.

According to a survey published in Forbes, “95% of businesses surveyed said the pandemic had affected their bottom line, and 53% estimated that 2020 revenue would drop by more than a quarter.”

Even the best business coaches often come across questions like ‘how to get my business out of debt’ or ‘how can I repay my loan as soon as possible’ by small business owners.

Most entrepreneurs begin their start-up by arranging funds through debt funding, equity funding, loans, or through other less formal sources like friends & family. But the experience of being in debt can be scary as well as overwhelming.

If managed smartly, borrowing funds can help you accomplish your goals. On the other hand, mismanaged business debts can not only affect your financial wellbeing but can also cause mental stress, especially to small business owners that are worse affected due to the Covid-19 pandemic.

There are many government schemes to help small business owners with loans. The Indian government had offered relief to MSMEs in the form of subordinated debts, collateral-free loans, and equity infusion through its Fund of Funds (FoF) scheme in 2020. This scheme proposes to purchase up to 15% growth capital in high-credit MSMEs.

You can watch this video by Dr. Vivek Bindra on “How to Pay Off Your Loans”:

If you have a well-thought financial plan, you can solve the cumbersome process of taking your business out of debt, just like others. Here is how you can chart your way out of debt:

1. Manage Your Debts

The first step that will take you closer to managing your debt is to organize all the details of exactly what you owe. Make a list of your debts with EMIs, interest rates, and tenures. This will help you recognize the costliest debts.

2. Settle Costliest Debts First

After sorting out your debts, pick the costliest one! Costly debts, if not paid on time, will extract the highest interest. This can drain your finances. Hence, settle your costliest debts on a priority basis.

3. Plan Monthly Budget

One of the most vital debt management techniques is to plan your monthly budget. Make a list of your income & expenses while deciding your monthly budget. This will give you a clear picture to think about ways to reduce your daily expenditure. Having details of monthly cash inflow and outflow can help you save money that you can use to clear your debt.

4. Consolidate Loans

Sometimes keeping a track of all the loans can be difficult. If you have too many loans, consolidating them into one can be a good idea. This will leave you with just one EMI. Business loans, personal loans, and credit cards provide you with this option. It will remove various debts and leave you with just one loan to track.

5. Insure Against Economic Shocks

The future is uncertain and it is wise to protect yourself from uncertainties that you might be exposed to. E.g. a loss of a job could lead to delayed EMIs. So, to avoid such situations, create an emergency fund to help you sustain yourself during a bad phase. Ideally, this fund should be 3-6 times more than your current monthly income.

Repaying loans is a moral, legal, and also financial obligation. With smart and effective debt management strategies, you too can get your business out of debt. Learn how to manage your debt with the top-industry leaders from our Problem Solving Courses.