Thursday, March 21, 2019

Don’t start a business until you read this!!

Everyone wants to be a entrepreneur but only few qualify to be a real entrepreneur. These are 5 warning signs which show you may not be ready to start a business.
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1.Don’t start a business if you have no money:

It takes time for business to mature and to generate profit. Don’t expect to start a business and starting generating profits in a month or two. It doesn’t happen. Most business owners don’t make profit until many years into their business. Business takes time and efforts to grow.

2.Don’t start a business if you don’t understand the industry: 

Always answer questions like what qualifies you to be in this space of starting a business? In order to make money in any industry, you have to understand the industry, thoroughly learn the industry.
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3.Don’t start a business if you don’t have stamina:

Stamina here means mental toughness to endure pain. Every successful entrepreneur would have experienced pain over a long period of time before they accomplish even a little bit of success.

4.Don’t start a business if you want more free time:

You might have free time after many years working in your business. When you are running your business there is no option of working 9 to 5. It is on your mind 24/7. You can’t take time off from your business mind.
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5.Don’t start a business if you know how to close:

You should master the art of closing if you want customers , want financing freedom. If you don’t have the ability to close anyone , anytime then you are not qualified to be in business.
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Tuesday, March 19, 2019

How to do great branding for Small Business ?

Only few Small business owners understand the importance of branding. They identify the key linkage between successful business and strong branding. Branding will always help you create great success for your business.
Branding is an unique way of defining your business to your team, customers, clients, stakeholders. It is also a 'identity’ point for your business. Let’s try to understand the important 5 principles to great an everlasting brand.
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1. Define your brand

Review your product / service you would like to brand. Gather necessary details related to the market which it occupies and the needs / concerns of your customers. Any words / character used should always relate to your nature of business.

2. What drives your business?

Clear Purpose, Vision, Mission enables you to drive a proper robust business and therefore create self-sustaining branding. These also help you position your business as a key player in the market.
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3. Build long-term relationships.

Create trusty with your customer by conveying realistic expectations. Be clear with your business values and that should drive your day to day business.

4. Don’t follow BIG BRAND STRATEGY.

Try and sketch your own identity. Corporate chains will have great impact in the market and don’t be tempted to recreate similar branding. Always try to leverage your business strategy towards branding.
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5. Be bold and innovative.

Unique, quirky designs / branding always stand out in the crowd. Don’t be afraid of trying new trends which enables your business to grow.

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Sunday, March 17, 2019

6 amazing tips to save more money and build wealth

Earning is not important for prosperity, saving wherever possible is the KEY. Lets discuss on 6 amazing tips to save more money and build wealth.
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1.Buy in BULK and ON SALE:

Anyone with a supermarket member like Reliance Fresh / Big Bazaar / Hyper Market can test that buying in bulk saves money. This rule is only applicable for goods which you actually need and which don’t get spoiled over time. Always watch for a moment to use coupon on the items which are on SALE.

2.Stay away from Credit Cards:

If you have a credit card then you are travelling on dangerous path. A credit card encourages people to make impulse purchases regardless of whether or not they can actually afford it. By using a credit card you are prone to spend more money than you actually plan to spend.
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3.Buy it straight from Manufacturers:

Try to cut off the middleman wherever possible. You will be surprise to know the price difference when you order something straight from the manufacturers. Always try this option first before you try purchasing anything through a middleman.

4.Live below your means:

The biggest problem for a lot of people is they spend more money than they earn. Ensure to live a life of your means rather than trying to impress / satisfy others. This makes you save more money rather than expense.
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5.Start earning Passive Income:

It is nearly impossible if you are breaking your back for every single penny. Poor people work and spend their time to earn money. But millionaires invest smartly in ways which generate passive income. One way to do this is via investments.

6.Surround yourself with successful people:

In general people around you influence you a lot. Hence trying to be in a group of successful people will always paving way for more opportunities, provide motivation to earn more and get rich. 

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