3 IMPORTANT QUESTIONS ENTREPRENEURS SHOULD ASK THEMSELVES

 

3 IMPORTANT QUESTIONS ENTREPRENEURS SHOULD ASK THEMSELVES


IS THE PROBLEM THAT I AM TRYING TO SOLVE BEING FACED BY A LOT OF PEOPLE?WILL IT STILL BE RELEVANT AFTER YEARS TO COME?

IS MY TARGET MARKET READY TO PAY FOR THE PROBLEM I AM TRYING TO SOLVE?

DO I HAVE THE NECESSARY SKILLS TO GET STARTED WITH MY VENTURE?

MOST ENTREPRENEURSHIP STORIES START WITH A SEARCH FOR PROBLEMS, WITH AN ATTEMPT TO SOLVE THEM.

MAKE SURE THAT THERE IS A NEED FOR YOUR PRODUCT.

ENTREPRENERUSHIP DOES NOT INVOLVE OVERNIGHT SUCCESS.

LEARNING HOW TO MARKET A BUSINESS IS AS ESSENTIAL AS BUILDING A PRODUCT.

LAST BUT NOT THE LEAST, THE SOONER YOU FAIL, THE BETTER IT IS.

(LEARN FROM YOUR FAILURES).

 

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JIOMART BUSINESS MODEL

JIOMART BUSINESS MODEL

JIOMART IS GOING TO OPERATE ON ONLINE TO OFFLINE(O2O) MODEL, WHICH MEANS IT WILL CONNECT WITH LOCAL RETAILERS AND DELIVER GOODS TO THE CUSTOMERS BY PROCURING THEM FROM THE NEAREST STORE LOCATED IN THE CUSTOMER’S VICINITY.

THIS MODEL IS UNLIKE THE WAREHOUSE MODEL USED BY MANY OF THE ONLINE GROCERY PLAYERS LIKE GROFERS AND AMAZON NOW.

THIS VENTURE AIMS TO OFFER FREE EXPRESS GROCERY DELIVERY FROM NEARBY SHOPS AND STORES TO ITS USERS. AND MINIMUM OF 5% DISCOUNT ON THE PRODUCTS.

JIOMART AIMS AT CREATING A WIN –WIN SITUATION BY ORGANIZING THE UNORGANIZED RETAIL SECTOR, HENCE BENEFITTING LOCAL SHOPKEEPERS WHOSE BUSINESSES WERE EARLIER BEING ADVERSELY AFFECTED DUE TO COMPETITIVE PRICING.

JIOMART IS EXPECTED TO EXPERIENCE ACCELERATED GROWTH BECAUSE OF THE COMMERCIAL PACT BETWEEN RELIANCE AND FACEBOOK’S WHATSAPP

JIOMART DESH KI DUKAN” SHOP OF INDIA PROUD OF INDIA”WHERE THE PEOPLE ARE SELF SELLER SELF RETAILER, SELF OWNER SELF CUSTOMER, SELF DISTRIBUTOR SELF WORKERS.

JIOMART GROCERIES WEBSITE IS NOW LIVE AND WILL BE AVAILABLE FOR USERS IN 200 CITIES ACROSS INDIA. THE CITIES INCLUDE DELHI, BENGALURU, CHENNAI AND KOLKATA, AMONG OTHERS.

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WHY YOU NEED TO WAKE UP AT 5 AM

WHY YOU NEED TO WAKE UP AT 5 AM

LET’S SAY THE AVERAGE PERSON WAKES UPS AT 7AM EVERYDAY.
BY WAKING UP AT 5PM YOU GET 2 HOURS EXTRA EACH DAY, 14 HOURS EXTRA A WEEK, AND 728 EXTRA HOURS A YEAR WHICH TRANSLATE TO 30 DAYS.
THAT ‘S GIVES YOU A WHOLE MONTH HEAD START ON ALL YOUR COMPETITORS.
IN BUSINESS YOU NEED TO WORK LIKE SOMEONE OUT THERE IS TRYING TO TAKE EVERY DOLLAR FROM YOUR BUSINESS. BECAUSE THEY ARE!

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VERY FIRST STEPS TO START A BUSINESS

VERY FIRST STEPS TO START A BUSINESS

1 THINK ABOUT FUTURE, LIVE AHEAD.

 

2 QUESTION YOURSELF WHAT IS MISSING IN THE WORLD.

3 WRITE DOWN IDEAS BEFORE BOUNCING.
4 CREATE A PROTOTYPE.

5 ITERATE ON THE PROTOTYPE.
6 FIND A CO FOUNDER.

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ARE YOU BECOMING SUCCESSFUL?



ARE YOU BECOMING SUCCESSFUL?
TOTAL POPULATION 7.5 B
 THINK ABOUT SUCCEEDING 4 B

 START SOMETHING BUT NEVER FINISH 750 M
ACTUALLY BECOME SUCCESSFUL 200 M

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TOP 10 MARKETING TOOLS FOR BUSINESS

TOP 10 MARKETING TOOLS FOR BUSINESS

EMAIL 54%
Email marketing is the act of sending a commercial message, typically to a group of people, using email. In its broadest sense, every email sent to a potential or current customer could be considered email marketing. It involves using email to send advertisements, request business, or solicit sales or donations.
 WEBSITE 51%
Digital marketing is the component of marketing that utilizes internet and online based digital technologies such as desktop computers, mobile phones and other digital media and platforms to promote products and services. 

SOCIAL MEDIA 48%
Social media marketing is the use of social media platforms to connect with your audience to build your brand, increase sales, and drive website traffic. This involves publishing great content on your social media profiles, listening to and engaging your followers, analyzing your results, and running social media advertisements. The major social media platforms (at the moment) are Facebook, Instagram, Twitter, LinkedIn, Pinterest, YouTube, and Snapchat.

MOUTH PUBLICITY 45%
Word-of-mouth marketing (WOM marketing) is when a consumer’s interest in a company’s product or service is reflected in their daily dialogues. Essentially, is it is free advertising triggered by customer experiences and usually, something that goes beyond what they expected. Word-of-mouth marketing can be encouraged through different publicity activities set up by companies, or by having opportunities to encourage consumer-to-consumer and consumer-to-marketer communications. Also called referred to as “WOMM” or “word-of-mouth advertising,” WOM marketing includes buzz, viral, blog, emotional, and social media marketing.

DIRECT MAIL 37%
Direct mail encompasses a wide variety of marketing materials, including brochures, catalogs, postcards, newsletters and sales letters. Major corporations know that directmail advertising is one of the most effective and profitable ways to reach out to new and existing clients.

 INTERNET ADVERTISEMENT 35%
Internet advertising, digital advertising or web advertising, is a form of marketing and advertising which uses the Internet to deliver promotional marketing messages to consumers.  

TV, RADIO, PRINT ADS 34%
TV advertising means conveying a message, typically to market a product or service. Television advertising advantages are TV reaches a much larger audience than local newspapers and radio stations, and it does so during a short period of time. It reaches viewers when they’re the most attentive.

PRINT COLLATERAL32%
In marketing and sales, marketing collateral is sometimes considered the collection of media used to support the sales of a product or service. Historically, the term “collateral” specifically referred to brochures or sell sheets developed as sales support tools.

SEO 25%
Search engine optimization is the process of growing the quality and quantity of website traffic by increasing the visibility of a website or a web page to users of a web search engine. SEO refers to the improvement of unpaid results and excludes direct traffic and the purchase of paid placement. 

CONFERENCE AND TRADE SHOWS 23%
Trade Shows. An exhibition for companies in a specific industry to showcase and demonstrate their new products and services. Generally trade shows are not open to the public and can only be attended by company representatives and members of the press.

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8 STRONGEST WORDS IN MARKETING DID YOU KNOW?

8 STRONGEST WORDS IN MARKETING DID YOU KNOW?

YOU MARKETING IS ALL ABOUT CONSUMER

FREE WHO CAN RESIST A FREEBIE?

BECAUSE SHOW THE CONSUMER WHY THEY NEED

RISK FREE THE CONSUMER RESIST A FREEBIE?

SECRET EVERYONE WANT IN ON A SPECIAL TIP OR TRICK

INSTANTLY EVERYONE NEEDS A QUICK SOLUTION PROMISE THEM FOR INSTANT SOLUTION

 DON’T MISS CAPITALIZE ON FEAR OF MISSING OUT 

EASY NO ONE WANT TO DEAL WITH A HASSLE


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9 MISTAKES THAT KILL STARTUPS

9 MISTAKES THAT KILL STARTUP

BAD LOCATION
      The location of a business is the place where it is situated. There are a number of factors that need to be considered in choosing a location for a business. One of the earliest decisions any entrepreneur has to make is where to locate his or her business.
SINGLE FOUNDER
By far the biggest challenge for a solo founder is fundraising. The fact is, it’s really hard for one person to run a company, especially in beginning. This makes the whole endeavor much riskier, which naturally gives investors a moment of pause.

RAISING TOO LITTLE MONEY

Lack of Proper Marketing
Getting and Retaining Customers
Money Management
Maintaining Online Presence

HIRING BAD EMPLOYEES
Absenteeism – bad employees tend to be absent more often. This either slows down your teams’ work or requires expensive temps. Less revenue –weak performers will generate significantly less revenue than their motivated peers.


NOT PUTTING IN ENOUGH EFFORT

Putting in that effort every day is more important than any natural talent you might have. On top of that, the grit you exhibit as you work toward business success can lead to learning new skills and building on that natural talent. Grit also allows you to identify opportunities and take advantage of them.

BAD PLANNING/ STRUCTURE
Unrealistic Financial Projections
Not Defining the Target Audience
Over-Hype
Bad Research
No Focus on your Competition
Hiding Your Weaknesses
Not Knowing your Distribution Channels
Including Too Much Information

WRONG AUDIENCE TARGETING
     Wrong age, Incorrect gender, Markets with Barriers, Wrong Market Life Cycle.

CHOOSE THE WRONG PLATFORM
     Platforms fail for four reasons: (1) mispricing on one side of the market, (2) failure to develop trust with users and partners, (3) prematurely dismissing the competition, and (4) entering too late. 

POOR INTERNAL MANAGEMENT
When a company operates without an effective system of internal controls, employees complete job tasks in an environment without the assurance of personal safety. This leads to high rates of employee dissatisfaction, absenteeism and low rates of employee retention.
HAPPY 50TH POST!😍

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CREATIVE SMALL BUSINESS IDEAS PART 2

CREATIVE SMALL BUSINESS IDEAS 
PART 2

1.MOBILE BEAUTY SALOON

START A BEAUTY SALOON THAT TRAVELS TO CUSTOMERS HOMES.
HUGE MARKET IN THE EVER GROWING ELDERLY POPULATION.
CREATE A BRAND. BUILD UP REPUTATION. BUY ANOTHER VECHILE WITH PROFITS.
TRAIN AN APPRENTICE TO OPERATE VECHILE. REPEAT.

2.START A PODCAST
BUY A RECORDING EQUIPMENT – $500

CHOOSE A NICHE. FIND VALUABLE PEOPLE WHO CAN PROVIDE INSIGHTS AND INFORMATION FOR THE NICHE.
BUILD UP A FOLLOWING AND RUN AUDIO ADS AT THE BEGINNING OF EACH PODCAST.

AD REVENUE IS $20 PER 1000 LISTENERS. ONE PODCAST PER WEEK WITH 30K LISTENERS.

PROFIT : $30,700 PER YEAR.

3.WEBSITE DESIGNER
FOR THOSE OF YOU WITH AN EYE FOR DESIGN AND A CREATIVE FLARE.
LEARN SOME BASIC PROGRAMMING SKILLS IN HTML (NOT AS HARD AS YOU THINK).

OVER TIME BUILD UP YOUR OWN BASE OF WEBSITE DESIGNS SO YOU DON’T HAVE TO START EACH NEW ONE FROM SCRATCH.

CHARGE $700 PER WEBSITE. CREATE 2 WEBSITES PER WEEK +$1400 PER WEEK.

PROFIT : $72,800 PER YEAR.

4.DEVELOP A MOBILE GAME
THINK OF A CREATIVE IDEA FORA MOBILE GAME THAT YOU WOULD YOU FIND EXCITING.
USE A SITE SUCH AS UPWORK.COMTO GET YOUR GAME DESIGNED-$2000.
AD REVENUE PAYS $6 PER 1000AD VIEWS. 20K USERS EACH VIEWING 6ADS PER DAY.
REVENUE  : $262,800 PER YEAR.
5.OPENING A LOCAL CAFE
FIND ALL YOUR LOCAL COMPETITORS ON GOOGLE MAPS.
GO THROUGH ALL NEGATIVE REVIEWS AND LIST THE DIFFERENT THINGS CUSTOMERS COMPLAINED ABOUT. TALLY UP THE NUMBER OF EACH COMPLAINT.
REPEAT  WITH POSITIVE REVIEWS.
YOU NOW HAVE A RANKED LIST OF THINGS TO FOCUS ON AND THINGS TO AVOID IN YOUR OWN CAFE!

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BOOKS YOU SHOULD READ TO LEARN A ENTREPRENEUR SKILL

BOOKS YOU SHOULD READ TO LEARN A ENTREPRENEUR SKILL
 
      Crushing It! is a state-of-the-art guide to building your own path to professional and financial success, but it’s not about getting rich. It’s a blueprint to living life on your own terms. … That’s what Crushing It teaches readers to do.

        The book is said to be “one of the most influential business books of our era”. The authors identified two primary objectives for the research published in the book:“to identify underlying characteristics are common to highly visionary companies” and “to effectively communicate findings so that they can influence management”.
             The Lean Startup by Eric Ries. The book consists of the learnings which the author had while working on his startup IMVU. The book focuses on the concept of validated learning and the build-measure-learn feedback loop. It tries to bring in a systematic approach to measuring the progress at a startup.

           The 4Hour Workweek is the step-by-step blueprint to free yourself from the shackles of a corporate job, create a business to fund the life style of your dreams, and live life like a millionaire, without actually having to be one.

       In The $100 Startup (published in 2012), Chris Guillebeau discusses the challenges of starting and growing a small business, and offers a guide to help overcome these challenges. The book aims to aid would-be entrepreneurs succeed and escape the rat race so they can live life on their own terms.



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DON’T QUIT YOUR JOB UNTIL

DON’T QUIT YOUR JOB UNTIL
 

YOUR SIDE INCOME IS DOUBLEYOUR MONTHLY EXPENSES.

 YOU ARE SKILLED ENOUGH TO MAKE A SIDE   BUSINESS YOUR MAIN BUSINESS.
 YOUR EMERGENCY FUND COVERS 6 MONTHS OF EXPENSES.
 YOU ARE ACTUALLY DETERMINED AND FOCUSED ENOUGH TO SUCCEED.
 YOU ARE READY TO WORK 12+ HOURS PER DAY.


The world has slowed so you can  rediscover yourself

4 REASONS WHY BUSINESSES FAIL

4 REASONS WHY BUSINESSES FAIL

42%   OF SMALL BUSINESSES FAIL
          BECAUSE THEIR’S NO MARKET FOR THEIR          PRODUCT OR SERVICE
14%   OF SMALL BUSINESSES FAIL
          BECAUSE THEY IGNORE THEIR CUSTOMERS
23%   OF SMALL BUSINESSES FAIL
         BECAUSE THEY DON’T HAVE THE TEAM
29%    OF SMALL BUSINESSES
         RAN OUT  OF CASH IN THEIR FIRST YEAR OF
         RUNNING BUSINESS