Tag: startup business

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Strategy

5 Proven Strategies To Boost Quality Leads For Startup Business!

5 Proven Strategies To Boost Quality Leads For Startup Business!
5 Proven Strategies To Boost Quality Leads For Startup Business!

Small businesses need leads to strive and survive in the long run. Good leads. But they have to be of great value. Generating quality leads is a constant need for any business and to constantly generate leads for your business, you need to think out of the box.

Though there are many traditional methods, they are no longer in use. Stepping away from standard practices and experimenting with new ways can help to generate leads in unexpected ways.

What are leads?

Leads are those qualified prospects who can become customers and ambassadors of your brand if you play your cards perfectly. Every marketer, particularly B2C marketers try to generate leads from various platforms and boost their conversion rate.

Here are five lead-generation tips to boost your leads faster:

1. Create Your Digital Footprint

A digital footprint can open multiple opportunities for a business to generate leads. This includes using social media platforms. You can also create opinion pieces, thought leadership articles, and comments on third-party posts. Draw an action and go for it. You can also work with a business coach to ensure you are on the right path.

2. Review your Homepage

Most marketers receive visitors on their homepage. And since the homepage receives a large amount of traffic, wouldn’t it be a good idea to review and adjust your homepage? Add a powerful CTA (call-to-action) with other elements such as headlines, subtitles, and images as it can increase lead generation by up to 50 percent. Also, if you have a new offer always ensure that you have mentioned it on your landing page. And the two are in sync.

3. Share links to your webinars in your content

One of the best tips you can implement in your marketing strategy is how a webinar can be brilliantly in your favor. A webinar is a low-cost way to get your message directly across to your target audience, who asked for it when they signed up.

If you can host a webinar and link it directly to your content, your leads will take you more seriously due to the value you have provided to your audience through a webinar. This will help to build trust and credibility between you and your customers.

4. Engage Your Audience

When people are engaged, the magic begins to happen. Engagement is the only purpose of hosting a webinar. And if you want to take your lead generation to the next level, you must consider hosting a webinar. You can generate leads, nurture them and build a successful business.

5. Keep the Lead Generation Team Separate from Sales Team

If you want to convert the visitors who visit your landing page, you need to keep testing your landing pages including subtitles, headlines, bullet points, CTAs, and more. And when it comes to lead nurturing, you have got to keep the lead generation team and sales team separate.

Lead generation is stimulating and capturing the audience’s interest in a particular service or product to develop sales in the pipeline.

On the other hand, the sales team is primarily concerned with the business of the exchange of goods and services for money. Their focus is on selling more.

Always, remember that the objective of keeping the two teams separate is that one team will be responsible for lead generation, and sales are to improve your customer satisfaction.

Strategies are not some magical push-up buttons, but they have been proven to work if implemented successfully. Absolute satisfaction comes from the things you learn in the process of applying these proven lead-generation tips.

Want to learn more about lead generation and smart tips to increase them? With our Business Coaching Program, you can gain in-depth knowledge of sales.

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Startup

Grow Your Startup Business With These 5 Effective Leadership Qualities

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

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

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

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

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

1. Set Clear Priorities

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

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

2. Empower Your Team

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

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

3. Start Delegating Work

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

4. Emotional Intelligence

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

5. Analytical Mind

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

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

Categories
Motivational

5 Top Indian Athletes Who Are Making Their Mark In Entrepreneurship!

5 Top Indian Athletes Who Are Making Their Mark In Entrepreneurship!
5 Top Indian Athletes Who Are Making Their Mark In Entrepreneurship!

Whether it is keeping the Indians on their toes during a match by sending the ball for boundaries or ruffling their opponents with their powerful serves, or making the entire nation cry by lifting the world cup after more than two decades, sports stars have always been close to the hearts of millions of Indians rooting for the game.

But as every player retires after a certain age, they secure their future by investing in various businesses. Some even choose to start their own startup business to keep their income sources open.

Here are five athletes who have had their tryst with entrepreneurship:

1. Yuvraj Singh

Yuvraj Singh has inspired millions of his fans around the globe, not just by hitting centuries but also by defeating the life-threatening disease of cancer. Dynamite at the pitch, Yuvraj is now helping others chase their entrepreneurial dreams through his investment firm -YouWeCan Ventures. His firm aims to help exceptional entrepreneurs to build great brands, companies, and productive teams. His company’s motto says, “We give Startups a Start.”

If you have a business plan, you can get help from the best business coach in India and invest in your startup.

2. Virat Kohli

From an excellent batsman on the field to being known as a fierce captain of India, Virat Kohli is the heart of cricket fans in India. But not just on the field, he is a fantastic investor off-field as well. In May 2015 Virat Kohli launched his chain of gyms and fitness centers called Chisel in association with Franchise India. The firm plans to launch a total of 75 centers in three years, while Virat’s investment in the chain is almost INR 90 crores.

In 2014, Virat launched his first fashion brand Wrogn. He is also a co-owner of the Indian Super League Football club FC Goa.

Kohli has also invested in the hospitality sector and owns Nueva- an elite restaurant located in the gastronomical hub of RK Puram. His restaurant features some great palette pleasers like Ceviche de Camarones, Spicy mole, La Caja de Pinturas, Peruvian piscos, and more.

3. Sachin Tendulkar

The God of Indian cricket- Sachin Tendulkar also seems to be the god on the startup pitch. The master blaster has put multiple investments in budding businesses like Smaaash (sports simulation), Musafir (UAE-based Internet travel company), Kochi Franchise, S Drive and Sach (healthcare and sports fitness products), Universal Sportsbiz (celebrity merchandise), and Mumbai Franchise for the International Tennis Premier League.

4. Kapil Dev

After guiding the Indian cricket team to victory in 1983 for the Cricket World Cup, in 2014, India’s best all-rounder – Kapil Dev also co-founded and invested in SloPho, a social gamified collaboration platform slowing users to win prizes by participating in games, contests, pools, and quizzes.

According to publications, he has also invested in PeopleEasy.com, an online grocery portal. Last year, the cricket legend along with London-based Bay Capital Founder Siddharth Mehta and others invested $3 million in SAMCO Ventures.

5. Saina Nehwal

The queen of badminton in India has not just invested in her sports but also ventures and businesses. She chose her father and financial service provider Edelweiss to manage her funds. Later in November 2016, we saw her batting for women’s care by investing in Paree sanitary pads.

These athletes not only prepare themselves for the field but also for their future. Every player has invested in multiple businesses. If you too want to explore different investment sources, you can take an online business coaching program from our website: www.badabusiness.com

Categories
Startup

5 Small Startup Business Ideas To Start In 2023

5 Small Startup Business Ideas To Start In 2023
5 Small Startup Business Ideas To Start In 2023

Starting one’s own business is everyone’s dream. However, most budding entrepreneurs see their dreams in cold water due to lack of funds and sometimes due to a lack of good ideas.

But, if you possess some special skills you can start your own small business with low investment. Today, with a great business idea and help from the best business motivational speaker in India, you can start a small online business with minimum investment. While some profitable small business ideas can be operated from your home, in other cases, you may need to lease small premises.

A good business idea may seem hard to come by, but with some planning and preparation, you can easily launch a profitable small business to supplement your income — or become your full-time boss.

Here are five small online business ideas that can be started even in small villages and rural areas that can be considered to increase job creation:

1. Start Your Blog

Various bloggers are making handsome incomes by writing about their passion or expertise. Try to understand your niche by using your content and you will make more money with your blogging career. According to a report, 73% of the bloggers who earn above INR 8 lac per year focus on their content. Make a content calendar and start building a loyal audience base using various email marketing and marketing automation software.

2. Jewelry Making

If there is one thing after food that never goes out of fashion and demand is beautiful pieces of jewelry. The best example of it is that even during the COVID-19 pandemic when many businesses were shut down, the demand for artificial jewelry pieces stayed high.

There are portals like TradeIndia where people can create an online shop to contact good manufacturers for procuring jewelry and selling it. Also, the first customer of the business can be your friends and family members who can endorse your products in their circle. To grow your online business you can consult with a motivational coach for entrepreneurs.

3. Baking

If you have a thing for a bakery, you can also start your own bakery business. This business does not require a large investment. You only need a minimum investment to procure an oven and buy ingredients for baking. When starting from a small scale, there is no need of doing branding. However, it is essential to focus on the quality and delivering a product, which customers would relish. This business can be started with an investment between INR 15,000 and INR 25,000.

4. Homemade Candles

In the last few years, many people are getting inclined toward aromatherapy and scented candles. Candles are a wonderful way to enhance the interiors of homes and for gifting purposes. You can start this business online with a minimal investment either by manufacturing it at home or procuring it from a third party.

You will require wax, wick, molds, thread, aromatic oils, and more to start your business. Apart from this, you will also need to have some candle-making equipment, which includes a melting pot, pour pot, thermometer, weighing scale, hammer, and an oven to melt the wax. Once your business starts growing, you can also hire a motivational coach for entrepreneurs.

5. Graphic Designing

From designing marketing collaterals, including posters, banners, and logos to creating stunning designs of landing pages, graphic designing offers an ocean of opportunities to those who are passionate about their work. You can pitch your design skills to small business owners or individuals to start your gig. If you have prior knowledge of this field, then getting clients would be helpful. However, learning the basics of graphic design from scratch is pretty easy, with a vast number of online courses.

If you have a great small business idea, you can begin to work on it because they require minimum investment. To ensure that your business runs smoothly, you can also consult with the best business coach in India.

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

Categories
Sales

How To Write A Perfect Sales Copy For Your Product?

How To Write A Perfect Sales Copy For your Product?
How To Write A Perfect Sales Copy For your Product?

Summary: Want to increase sales? Discover how you can generate more leads by choosing your words wisely.

Many entrepreneurs often lose their sleep because their ad copies fail to perform! If you are a copywriter, you probably analyze it too, but even if you are not a copywriter, it is critical to understand the critical elements that make a copy good.

If you don’t want to be at the mercy of your marketing director or ad agency, you must understand the inherent structure of an excellent copy that sells.

Here are 4 tips to craft a perfect sales copy:

1. Craft a Perfect Headline

Headlines are significant. If done correctly, it will trigger a spark in that prospect’s emotional core and that’s when the magic begins that can change doubt into confidence, despair into hope, and fear into courage.

And yet not many people invest much time in thinking about the headlines while writing copies. The headline is essentially the ad to your ad. It is crucial to grab your potential customer’s attention to make them read the entire message. To craft a perfect copy, it has to tap into your target audiences’ core. This tip will require you to invest time, but once it is optimized, it will attract customers to your startup business like a moth to a flame. You can also consult with a business coach who has experience in crafting a sales pitch.

2. State The Promise Clearly!

Every winning ad copy that resonates with the promise you have made to your customers works the best. The first two paragraphs after the headline serve the function to restate the promise of your product or service. However, it also states who is it for, and who it isn’t for.

Once your well-written copy grabs the customer’s attention, he or she begins wondering if it has something for them. It is your lead’s job to clarify what your product or service is and what it will deliver. If the message is not clear, a reader will get confused and a confused mind almost always withdraws and says “NO”. A winning lead should be clear, and concise, and deliver the promise that you have made.

3. Make it Clean With Bullet Points

Mystery, novelty, promise, and vivid imagery are the key ingredients to crafting a perfect headline with bullets. We all are aware of the clarity that bullet points provide us in any presentation, article, or blog. These are concise statements that offer insights about benefits but do not reveal anything. The purpose of bullet points is to arouse curiosity. The bullet points that are excellently crafted have elements of. This invokes an image inside a customer’s mind and makes it easier to make readers take action.

4. Body Copy

Body copy is that part of the sales argument, which is often the least-read part. Most of the readers skim through this portion in an unconscious attempt to figure out how it is beneficial for them to read the entire body of the sales letter. To attract more customers for your startup business, use subheadings and unused bullets to divide the letter into distinct sections. Add some images, sales arguments, promises, and proof and push tactics to craft a unique selling proposition around your startup business.

If done right, a copy can become a frictionless call to action. With these four simple steps, you can craft a perfect sales copy. You can boost your sales easily with the right guidance from a business expert. This is why to help you move forward with your business goals, we at Bada Business offer an exclusive Business Coaching Program that comes with Foundation courses, specialized courses, and value-added courses. To know more about it, visit: www.badabusiness.com

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Sales Webinar

Discover 5 Super Secrets of Selling that Will Grow Your Business Sales!

Discover 5 Super Secrets of Selling that Will Grow Your Business Sales!
Discover 5 Super Secrets of Selling that Will Grow Your Business Sales!

Summary: Be it a product or a service, sales is all about selling solutions!

Whether you are selling a product or a service- you are selling something that can resolve challenges that thousands of people might be facing currently. Irrespective of the product or service, selling requires interaction with your customers.

With so many entrepreneurs and startups cropping up, there is huge competition in the industry fighting for the customers’ attention. There are many videos on Dr. Vivek Bindra’s YouTube channel that can help you to increase your sales.

Here are five tips that will help you to increase your business sales:

1. A Customer is Human

Yes, some bots and robots have become CEOs in large organizations and are in the news. But the fact is that the customer in any industry is a human. Humans buy from other humans. Human relationships are the first and most important element. While you may work for yourself or a company, it is you who will be the first to experience a sales lead. Hence, always treat customers as humans first before seeing them as a customer and you will be amazed to see how they open up!

2. Sell Benefits, Not Features

Ever watched how Apple launches and advertises its products? They do not boast about the camera quality or the powerful chip. But they explain how you can capture beautiful moments via wonderful pictures and how you can share them with your family and friends at a lightning speed.

The biggest mistake entrepreneurs often make is focusing on their products and services while selling. But humans as we know are much more interested to know how a product will change their lives. How your product will add another dimension to their comfort or how your service can help your customers to resolve their existing issues. Always focus on how your product will benefit your customer.

3. Ask the Right Question

It is essential to ask the right question. You may have a great product or a service, but why will your customer buy it from you? Hence, understanding what a customer wants after building a relationship is significant to ensure that your products and services are relevant to them.

4. Know Your Product & Customer

If you are selling a wellness product, your target audience should be clearly defined. You can’t share your product with a person who is not health conscious. Hence, define your audience based on their demographics. They are the ones who will buy your product.

But before you can understand your customer, product knowledge is the key. If you are selling a software program, you must know what it is solving. How will it help your customers to perform their tasks more efficiently? Do you know your products and toolsets well enough to match them to the solution the customer needs? If you want customers to buy your product, you need to believe in it.

5. Build Human Connections

Spending huge money on print advertising or digital advertising is effective for established brands. However, it is least effective when it comes to new entrepreneurs building their startup businesses. There is no alternative or shortcut to the personal approach. Get one-on-one with your customer. There are many ways to do it- send those personalized emails, phone calls, or messages. You can choose anything to which your customer responds the most.

Businesses worldwide focus on increasing their sales numbers because selling is an integral part of the business. It is essential for the sustainability of the business as well. If you want to learn the ‘Super Secrets of Sale’ you must attend the FREE IBC WEBINAR by Dr. Vivek Bindra on October 9, 2022, from 12:00 to 1:00 PM on Bada Business Community App!

To know more, Register Now: https://www.badabusiness.com/webinar/ibc?ref_code=9webinardmt

Categories
Strategy

6 Smart Tips For Entrepreneurs To Build Strong Relationships With Investors!

6 Smart Tips For Entrepreneurs To Build Strong Relationships With Investors!
6 Smart Tips For Entrepreneurs To Build Strong Relationships With Investors!

Summary: When adequate funds are the only thing that is stopping your startup from becoming successful, you might want to think about establishing good relationships with your investors.

Entrepreneurs put in their immense effort and hard work in pitching their business idea to angel investors to bring them on board because the key to success for most startups is having funds for the growth of their business.

However, a deal is never done when it comes to dealing with investors. If you have wooed your investors once, it does not mean you won’t need them again in the future. Investors with their lots of experience can offer incredible insight and resources that can get your startup business on the right track.

According to experts, nearly one-third of the startups shut down because of a lack of planning about the proper usage of their funds. This leads to investors losing interest and credibility in their business venture at the very early stage. Many entrepreneurs often hire a business coach to help them navigate the rough waters of the business world.

Managing investor relations can make a huge difference to your business. As an entrepreneur, it is your responsibility to strengthen ties with investors to position your current business for success. While a strong relationship can help the startup to grow rapidly, one wrong move can end the game for you.

Therefore, it is highly essential for you to maintain a working, productive, and winning relationship with your investors, even if they are not friendly.

Here are six pointers that will help you to build a strong and cordial relationship with your angel investors:

1.  Don’t Choose Investors Solely for Financial Purpose

Investors can provide not just funds, but also their valuable guidance and experience to accelerate your business. Acknowledge the relationships and expertise investors will bring to your business by giving them a voice. Listen to their underlying apprehensions and concerns. Encourage open conversation and clear dialogue so that you can learn more about their risk-taking appetite. You can consult with a business coach as well to understand how you can maintain dynamics with your investors.

2. Set Clear Expectations in the Beginning

An entrepreneur and investors need to be on the same page as nobody likes surprises in the business. Thus, it is vital to set the goals, nature of the relationship, degree of control, vision, the scale of growth, and exit strategy that is acceptable to both parties.

3. Be Authentic & Respectful

Investing in any firm is not a matter of a “fund it and forget it” scenario for any investor. In fact, they would like to stay updated with the latest ongoing in your organization. And when you are looking to strengthen your relationship with investors, it should be rooted in authenticity and respect. As entrepreneurs are coming into the market with their ideas, they should also respect their investors` opinions, suggestions, and feedback.

Despite the disagreements, they must behave respectfully towards each other. Discussions should happen openly to arrive at a mutually acceptable solution.

To gain investors’ trust, startups must engage with them regularly, instead of treating them as an obstruction that needs to be dealt with.

4. Share Challenges & Achievements With Investors

Every investor wants to stay updated about the current progress of the venture he has invested in. Hence, update your investors regularly with the latest figures, and charts prepared by the startup team weekly or monthly, if not daily.

Also, be transparent with your investors. Even when there are failures or mistakes, be forthright with your angel investors. Keeping your communication channel open with your investors helps you build a positive image of the startup.

5. Pay Respectful Towards your Investor`s Input

Investors can guide your startup business with their expertise and insights gained from years of experience in the market. You don’t have to agree or incorporate every suggestion, but paying heed and valuing them will give your investors a sense of involvement and validation.

6. Address their Concerns

Investors might have concerns about your plans, strategies, or any other aspect of the business. You should make a conscious effort to address those concerns through open discussion, dialogue, and reasoning.

As founders seeking capital quickly learn, finding the right investor is often all about who you know.

If you are facing the biggest challenges from your investors, we can provide you with amazing solutions with our business coaching program. You can learn from the top industry experts how to take your business ahead in the market. Kick start your entrepreneurial journey by clicking here: www.badabusiness.com

Categories
Business motivation

10 Business Quotes By Dr. Vivek Bindra That Are Pure Gold For Your Business!

10 Business Quotes By Dr. Vivek Bindra That Are Pure Gold For Your Business!
10 Business Quotes By Dr. Vivek Bindra That Are Pure Gold For Your Business!

Life is full of ups and downs! Sometimes we face them in full swing other times we might feel demotivated due to constant issues and disappointments especially when you are an entrepreneur. In these times we all need a business motivational speaker who can illuminate our darkest hour with his years of wisdom and knowledge. Dr. Vivek Bindra is one such mentor who has inspired millions of entrepreneurs, students, and small business owners to follow their entrepreneurial dreams.

Dr. Vivek Bindra is a globally acclaimed motivational speaker, corporate trainer, and business coach who has registered 9 Guinness World Records under his name. He is the owner of the world’s largest entrepreneurial YouTube channel because of the number of subscribers.

If you are facing challenges in your startup business and feeling demotivated, here are 10 inspiring quotes that are ‘GOLD’ for your business:

1. You don’t need hands & legs to drive your organization, you need a head & heart to drive your organization.

2. A clear vision or great vision without great people is completely irrelevant.

3. Acquiring the right talent is the most important key to growth.

4. The smartest business decision you can make is to hire qualified people.

5. The way you treat your employees is the way they will treat your customers.

6. Great people are a company’s greatest asset.

7. Satisfied employees will get more customers, and more customers will be more profitable.

8. People are not interested in who you are, they are interested in how you make them feel.

9. Either you grow or you go, either you are distinct or you extinct.

10. Brilliance around you will build brilliance within you.

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. Get practical solutions easily with our step-by-step learning strategies, action plans, and frameworks that are designed to empower you and your business with in-depth knowledge.

Categories
Startup

How To Hire For Startup Business: The First 5 People You Should Hire!

How To Hire For Startup Business
How To Hire For Startup Business

Summary: To turn your small business into a large enterprise, you will need more people. Here are commonly suggested first hires for your business.

You created a product or a service. You started your business. You got your first 100 customers and your business started making a little money. Now it’s time to hire the right people to take your business to the next level. Most often entrepreneurs find themselves confused when it comes to deciding who those people should be. While some people take the right step and consult a business coach, others decide to figure it all out by themselves which often leads to a waste of time and money.

The people you hire today will benefit your business tomorrow. Though hiring people should depend on your business needs, any employee that you will hire needs to have a set of few qualities- flexibility, passion, and integrity. Hire people who have diverse experience and are capable of hand responsibilities until you expand further.

So, starting from the top, here are five roles you should fill immediately:

1. Chief Executive Officer (CEO) & Chief Operations Officer (COO)

CEO and COO are two of the most essential players who can provide a new direction to your startup. Where CEO is typically the brain of the company, and the COO is the heart of the company. The CEO controls the company’s direction, culture, and vision, whereas the COO focuses on the day-to-day operations that keep your business running.

Though the founders of the company assume these two operations, you can also hire externally for these positions. If you and your co-founder(s) already plan to take on these titles and responsibilities, hire the following seven positions next.

2. Product Manager

When it comes to products, a product manager will be your go-to person. From developing a product strategy to vision and development, he will work closely with the engineering and marketing teams to create and market your products. Hiring a person who can dedicatedly work towards building a great product or a service will allow you to start working on the business rather than in the business.

3. Chief Technology Officer (CTO) & VP

It is very important to stay updated and upgraded with the latest technological development in the world. Hence, a team member who specializes in technology and development is crucial to your business’s success. Though you can hire a freelance front-end and back-end engineer, it is useful to have someone on the team who can take charge of this sector.

Having someone with the skills to decide what will work best for your business, as well as managing the integration and management of various systems is the key. You can also hire a business mentor to gain a different perspective and professional expertise.

4. Chief Marketing Officer (CMO)

A crucial aspect of every business revolves around its customers. How customers view your product or service will decide whether they would like to invest their money in it. A Chief Marketing Officer will focus on your customers and build a brand image to promote your product in the market. Hiring an expert with excellent marketing and promotional skills is essential to ensure that your business reaches a wide audience.

5. Sales Manager

No business can thrive without sales and revenue. A sales manager will focus on generating new leads and bringing in money for your company. A startup or small business that masters sales first survives for a longer period. This is probably the hardest position to fill in, but it is worth the time and effort. Hire an amazing sales manager and then use the money they bring in to scale your business.

It’s smart to hire from the top and then expand your team as per your business requirement. Keep your company culture in mind when you are hiring for startup roles. Without filling these positions your company will lack direction and strong leadership.

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

To know more about our courses, visit: www.badabusiness.com

Categories
Finance Startup

5 Common Mistakes Entrepreneurs Should Avoid When Raising Funds

5 Common Mistakes Entrepreneurs Should Avoid When Raising Funds
5 Common Mistakes Entrepreneurs Should Avoid When Raising Funds

Summary: A startup`s fundraising efforts depend on its ability to make itself and its business ideas appealing.  Here are five common mistakes every entrepreneur must avoid.

According to a report by IBM Institute for Business Value & Oxford Economics, over 90% of Indian startups fail miserably within 5 years of inception.

Starting a business is a pricey process. From hosting a website to hiring the right people, everything can quickly add up to the cost of the company. So unless you are independently wealthy or able to monetize right away, you will need large funds to foot the bills.

However, it does not mean that you should start rushing to people and start asking them for money to raise funds for your startup business. Before you think about raising funds, stop and consider the best way to raise money sustainably for your business. You can also hire a business coach to help you raise funds.

To ensure that your startup runs smoothly, we have listed out a list of fundraising mistakes that every entrepreneur must avoid:

1. Raising Capital too Early

When you have invested your own money in your business, you can stop the project anytime. But once you borrow money from investors, you will feel intensified pressure to make your business a huge success. You will have to give away a lot of equity in your company if you go this route. Hence, try to bootstrap your business and try to use existing resources to avoid the extra pressure.

2. Not Seeking Professional Advice

Entrepreneurs are often independent and self-sufficient. Hence, they often try to overcome any obstacle on their come that comes their way. While this conquering spirit is part of what makes entrepreneurs great, it can also be a fault. When raising funds for your startup, it’s critically important to seek the advice of professionals to better understand your funding needs and requirements. Consulting a business coach with real valuation experience can help you save your time and money on the wrong decisions down the road.

3. Not Raising Enough Funds

Some entrepreneurs ask for less funding than they require. It is the biggest fundraising mistake that can lead to the shutdown of the startup. Always ask for the amount by keeping your financial requirement as realistic as possible. Don`t worry about scaring investors by asking for the amount of money you will require for your business. To know step by step process of fund raising, watch here:

4. Lack of Clear Objectives

Having a clear goal in mind is essential to raise capital investment. Figuring out how much money you need to reach your next milestone is essential. From operational costs to essential professional services, determine how much capital you need. Not having a clear idea is another mistake that every entrepreneur must avoid.

5. Giving up too Much of the Company

One of the worst fundraising mistakes that entrepreneurs can make is giving up too much ownership of the company. While a deal that includes a good portion of your company might seem appealing, you could end up paying a much higher cost down the road.

Try to keep ownership within the company. Find out ways to raise or access funds which are more feasible.

Also, don’t forget to build and create relationships as you may come across people who can help you with investment. If you don’t know where to begin, start by making a list of businesses that intrigue you. You can use tools such as AngelList and Crunchbase to get a sense of the investors behind each project. You can also hire a business coach who can help you with networking.

These mistakes might appear small, however, if you want to successfully run your business, avoid falling into the trap of repeating these costly mistakes. Want to know the fundamental rules of fundraising?

Take our ‘Problem Solving Courses’ and gain in-depth knowledge about raising funds. To know more, visit: https://www.badabusiness.com/psc