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How Startup Can Be Funded?

By: Ruchi Kumbhalkar, HR Generalist
If you want to earn you have to take the risk to chase your dreams.

Running your own business is not easy. It takes lots of efforts to reach the destination. Choosing a right business model is essential for running the business and strategies should be applied likewise so that people are ready to fund.

People having brilliant ideas for startup’s has no funding to back it up. Therefore they need to be ready with best option to get funding for a startup and should know how to start from scratch.

Lack of funds is the major problem for today’s entrepreneurs and only reason why many business never get off the ground. Many business owners have the passion and knowledge but not able to bring that dream into reality due to lack of funds.

So there are few ways how some of the entrepreneurs get funded and what ways they use for the same. So here it is:

1. Create a detail business plan with understanding and clarity so that whatever you plan can actually be implemented.
2. Visit your local bank and apply for loan. Of course you have to pay it back after you start earning from your business or not. But a loan can help you a lot for your startup’s. Bring your business plan and explain the bank manager or loan officer how much money you need and how you will utilize those money in your startup’s so that he is ready to give your loan.
3. Incase loan officer deny your request than plan B should already be ready.
4. Take help from friends and family for funding your startup because these people trust you and your work.
5. Risk is everywhere so be prepared and face everything while funding your startup.
6. Venture capitalists can help you to provide many resources other than funding . and even if they help with funds, you have to be ready to give a portion of your business and that’s not always a bad thing.
7. Crowdfunding can be used to raise capital and you can take advantage of the resources available to you online.
8. Dip into your personal savings and search for a business partner who have brilliant strategies for the startups.
9. Think outside the box and try to minimize the business costs.

If you are planning to start your new business to be ready foe every risk and back up options. You mail fail twice thrice but you should be ready with alternate solutions for it. Working on startup in exciting but its not cheap because not everyone has money to grow their business company.

If you can’t do much investment for your startup than try to get loan from your local bank or ask your friend and family to do it for you.

The most important part of any startup is the brilliant and strong business plan.

ALL THE BEST!

Digital Marketing : A Secret Weapon Of STARTUP…

By: Ruchi Kumbhalkar, HR Generalist

Digital Marketing has become a weapon for startups... Yes it is true. Digital marketing has played a major role in contributing to startup companies.

It is an online version of traditional marketing which helps the startups to build their presence felt online to market themselves in a better way to their target audience.

Digital Marketing is very important for startups because it helps to reduce the budget for marketing. Also generate leads to pitch the customers, helps in increasing sales and create a brand awareness for the customers. And the advantage of digital marketing is that target audience can be reached in a cost effective way and helps in increasing brand loyalty.

In such a fast paced business industry you need to create your brand name with strong digital marketing strategy. As digital marketing is powerful tool so it can impact on your online presence and bottom line positively. And this counts towards your brand name getting known.

Some effective digital marketing ways that are essential for startups are as follows:

•  Your audience is what matters , so user experience is important to engage the audience with your brand and build a lasting relationship.
•  Creative content for your startup promotions is necessary so you will require an excellent content writer who has very good communication skills and ideas to write a content for your startup. Because great content can increase organic traffic and improve search engine rankings.
•  Social Media strategies are best to explore about your business or reach out to the customers. Today applications like Instagram , Facebook and Snapchat are becoming popular for doing business and engaging the audience with brand name.
•  Search Engine optimization is most important to find out whether users are interacting with your websites and social media platforms.

There are so many benefits of implementing it and some of them are as follows-

• Brand Identity and Awareness
• Market analysis and Return of investment
• Converting customers into advisors
• Customer Engagement

There are various ways in which startup can use digital marketing for their business growth and brand name, but only the thing is they must choose the right set of digital marketing tools for their business which helps them to grow and contribute the business success.

Your most unhappy customers are your greatest source of learning.

Building, Nurturing And Structuring A Startup Team

By: Ruchi Kumbhalkar, HR Generalist

“Teamwork makes the dream work, but vision becomes a nightmare when the leader has a big dream and a bad team” ~ John Maxwell

Building a great team for startups.

When it comes to build a new work team the first thing is that the mission or scope statement should be clearly defined and matched to some real needs of the department, lab or institute. If the mission of the team is not clear than creating these should be part of team’s kick-off process.

While creating a team, selecting the right team members is expository. A team should be not more than 10 people so that the team members can interact and develop with a high level of connection. Members in the team should know technical skills as well as writing and presentation skills and very good interpersonal skills while working in small groups.

Team events are essential for the startup process because this enable the team to understand the structure and make familiar with roles and responsibilities. This will increase team productivity and success.

How you can build a successful team?

• Start with yourself
• Ground rules
• Mission and goals
• Roles and responsibilities
• Training
• Adapt, change and improvise
• Decision making
• Focus on customer service
• Effective group process

And while nurturing a team brainstorm like crazy. Start your business with right reason for customer’s real need. Test the market as many businesses skimp on market testing because they’re afraid it will be expensive and time consuming.

“Great things in business are never done by one person” ~ Steve Jobs