Your company can't be successful if your basics are not clear.
— Kailash Chandra Sahu (@SahuTweets) December 28, 2023
1. A Business Plan That Can Sell
Your business should solve other’s problems. There should be enough demand for your product or services.
2. Legal Compliance
Seek professional guidance to adhere to regulatory laws and register your business as a Sole proprietorship / private limited / LLC / corporation accordingly.
Obtain the necessary licenses, permits and documents needed from your local, state or central government. If you sell goods and services with a turnover of Rs. 20 lakh annually, you also have to register for GST for tax compliance in India.
Trademark your business name and logo. Consult a professional lawyer’s guidance for more related to legal compliance.
3. Effective Marketing & Branding
First, make a recognizable brand identity. The name shall resonate with your business category and your target audience.
Utilize both online and offline marketing strategies. Many businesses spend crores of rupees just to decorate their store. But invest around 0.5% or even less than this to market their business. isn’t it peculiar!
No one will know about your business if you don’t promote it.
In the digital era of the 21st Century, if you are relying on offline marketing, then my friends maybe your business is running well, but missing a lot of potential revenue and customers.
Consult us for an effective branding and digital marketing strategy.
4. Strong Team & Company Culture
Surround yourself with skilled and passionate individuals who share your vision. Foster a positive and collaborative work environment that motivates and empowers employees.
- Hire and retain qualified, motivated employees.
- Provide training and development opportunities.
- Define clear job roles while hiring.
- Use effective hiring techniques and take time for interviews.
- Look beyond the resume
- Offer competitive compensation, perks, bonuses, facilities etc
But remember that Great teams are not hired, they are built over time. & Remember to fire fast if some of your team member’s performance is not upto the mark.
5. Technology Integration
Adapt & integrate new technologies for your business for ease of process and innovation.
Technology can be integrated into financing, communication, HR, operations, marketing etc
For example, for finance & accounting you can use the following tools
For easier receiving of payments from your customers you can use the following payment gateways
To manage customer relationships, track leads, and nurture relationships for better sales conversions you can use the following CRM tools
you can use the following digital marketing tools to Reach a wider audience, target specific demographics, and track the effectiveness of your online marketing campaigns.
So there are so many tools available for different purposes and the list goes on and on. Adapt them to make your work process faster. Use less men power and adapt Ai to make the complex process easier.
Keep on learning to get industry insights about what is trending right now, and connect with like-minded people with webinars, meetings, and offline events.
Network with people online with platforms like LinkedIn, and create content to create a loyal audience base.
These are the basic things that you should do to grow personally and grow your business as a whole.
Thank you!
Don’t forget to subscribe to my newsletter to get these interesting articles directly to your email inbox.