Exploring Business Approaches!

“Being business minded requires you to always approach things with humility and respect.”

Strive Masiyiwa

We are by now familiar with two types of approaches which are of course, positive and negative but we miss out on another important one within the positive approach, the one that very subtly lets a wee bit of negativity drift in so that something positive can happen. Let us name it the Pogative Approach that uses negativity to make something positive occur in business. For instance, cheating with the delivery of your services to get a surplus is a good example of this approach. Thus, the point to be highlighted is that most businessmen resort to the Pogative Approach and assign it the positive tag. However, this approach isn’t acceptable in business owing to the fact that it has the capacity to damage your reputation which may only break the chain of regular customers and as stated in the earlier articles, you don’t want to compromise with the regular ones because they have the power to fetch you a new queue of customers through feedback. Thus, businessmen must shun the myopic perspective and have an agile future vision.

Before inaugurating your business on a large scale, it is better to begin as an entrepreneur because a bigger company comes with reputed customers and you don’t want to deal with them without any previous practice. You don’t want to mortify yourself by not being able to impart those perfect customer service skills. You don’t want a bad image owing to lack of expertise. That’s exactly why, we move from basics to advanced level of expertise because as the saying goes, Practice makes Perfect. Thus, practicality comes into handy as it lends us a helping hand towards the topsy turvy business route. Everything in life surely has stages. So, a company owner must have run errands or worked as an entrepreneur which is essential as it helps us understand whether or not we are interested in business. It can be considered the first stage. Many a times, after going through this basic stage, a person realizes that business isn’t his piece of cake, which eventually helps him back off and prevent future losses!

When customers come into the picture, businessmen have to adopt an emotional approach. Though, it may be a lipstick of sham that feeling needs to reach and penetrate deeply in the customers’ heart so that they feel impressed and prefer you yet again in the future. This is what constitutes customer service. However, instead of pretending to be emotional, it is advisable to be true to your feelings and respecting each and every customer who trusts you with their hard earned money. You don’t want to dupe them by showing a ruthless image that can never be dropped in the near future since First Impression is the Last Impression as we all know. Of course, you aren’t expected to have deep rooted loving emotions for each and every customer, but you surely must possess those ethics that dislocate your intentions of betraying them through lack of commitment. In short, emotions and ethics share a close relation which makes adopting the emotional approach mandatory since every customer matters.

Every business is a convenient spot for customers thus, expecting variety in conveniences is acceptable. Thus, one should adopt a flexible approach that welcomes all sorts of services to the society so that customers feel satisfied enough to approach you. For instance, if your business includes website designing then make sure you incorporate all sorts of web related activities. You too want a variety of sources that fetch you income, don’t you? Thus, don’t adopt a rigid approach and remember to remain open to the market trends as you digest new services in. Flexibility also comes into limelight when you are expected to fine tune your services. Don’t be rigid with the manner of your services and try streamlining them with new facilities each and every time, as the market trends transform! As we all know, we can either introduce new services or evolve convenient features in the existing one to make it look like a new service. Thus, both of these require a broad based mindset which accepts feedbacks be they in the form of criticism and takes these in a positive manner to enhance the quality of ones services.

Let us understand all of these approaches through a short story. Let us imagine a company selling children’s wear. The owner before beginning this business had been working as an entrepreneur and stitched pretty garments at home which received great demand later. Thus, it helped the owner evolve into a huge business since she had gained some expertise in customer handling and felt the need to occupy a bigger platform for herself. Customers receive a warm attitude that doesn’t back in pleasing them which lures them all the more. She stitches garments even better than the customer demands, which obviously melts them. They pledge to choose her always because the love mixed with the services clearly touches the customers’ heart. It’s been a year or so, she surveyed some people who informed her that including ladies wear could help which she flexibly considers with a positive approach and tries her hand on this new endeavor. She effectively learns the same and drags attention of women on a large scale after 6 months owing to the efforts she puts into perfectly constructing those beautiful garments with unique patterns that every lady feels eager to try out. In short, dedicated and flexible approach that accepts feedback helped her succeed and have a huge business. After ladies wear, she tried incorporating teen wear and this variety gained wider public admiration. In short, one mustn’t hesitate in introducing new services or trying hands on multiple ones so that success touches our feet!

Be Flexible, Be Vibrant, and Be Dedicated!

Happy Business- Ing!

tHE nEW wAY OF gROWING Business- Social Media Marketing

The Internet has made the world a global village. You can not only interact and engage with people nationally but also internationally. This has not only expanded the scope of personal interaction but also business engagement.

What is social media marketing?

Let’s get to know what social media marketing means by breaking up the term into two parts, ‘social media and ‘marketing’.

Social media is a collective term for an interactive online platform for the creation of social relations with people, communicating information and ideas. Social media lets you socialize virtually with the convenience of ‘anytime anywhere’.

Marketing on the other hand means, the activities taken up by companies to promote their products and services by bringing it to the notice of the potential customers and clients by advertising it through different platforms, be it print, broadcast, digital, or any other. So, the term social media marketing collectively means the use of social media platforms by companies to grow their audience base for their products and services by reaching out the potential customers through advertisements posted on social media. it can contain text, images, videos, or any other elements that can increase audience engagement.

Today, there are so many social media applications available, that can be easily accessed through the internet. This has made it so much easier and faster to connect with people around the world. Facebook, Instagram, Twitter, Linked In, Snapchat, and YouTube are some of the most commonly used social media apps.

Algorithms

Social media has an algorithm that it works according to. The algorithm decides which posts the users would see as they refresh their feed. The algorithm aims at recommending posts to the users so that they keep scrolling and can see more ads.

You might have noticed the moment you search for some product on a search engine or through an app to buy, the next moment you scroll through your social media you would get advertisements of more such products or more products from that shopping app.

Even the companies and brands have their page on social media. The more people engage in and see their posts, the more it gets recommended to other people as the algorithm identifies it as something people would like to see. This algorithm is prominent in the case of YouTube.

The analytics of such social media platforms lets you see the number of impressions the post has, the number of views, comments, and even the shares made. It also lets you see the graph of day-to-day, weekly, monthly and even yearly views gained. This acts as a great help in analyzing how the particular type of content is being accepted by the audience so that you can make changes in the way of your presentation of advertisements or posts accordingly for a better audience base.

Usage of appropriate hashtags also contributes to spreading the reach. Hashtags that can be well associated with your brand or the product contribute a lot to the performance of the content. 

Moreover, it is very crucial to do market research before posting up your content on social media for the product or brand, as to know what people like and accordingly design your content to meet the taste and preference of the people for greater success.

Business Development | Skills to become a Business developer

Business Development

The work of forming strategic opportunities for a business or the place you are working at is known as Business Development. It includes giving ideas or generating for the company/business to grow. It can be by increasing sales and making a profit to the organization by building strategic partnerships and building business decisions.
I have worked as an intern as a business developer, and my work was to generate sales for the educational organization. Since I was a college student and was confident to get the clients and soon I was hired. I generated 4-5 sales within a span of 1 month and also got paid. As my first internship, I was happy to work as a BD (business developer) and get paid as well. During my internship as a business developer, I worked under an HR (human resource), the work of HR is to recruit skillful business developers, screening and provide training to the job applicants benefiting the company. Working under HR is telling him/her about everyday tasks done to grow the business. I still remember my HR daily used to keep track of all the recruiters and asking them if they made any sales.

Skills to become a Business developer:

1. Firstly a person with good marketing skills can attain this internship/job.
2. Convincing people faster is the ability to get a person to your side and make them do what you ask.
3. Make people trust you, this is a quality of a BD. But yes never lie to your client that he would regret it in the future, be transparent and tell them the pros and cons that are real and not made just for your benefit to get clients.

business developer

Roles of a Business Developer:

1. Business expansion
Remember you get hired only because they saw an ability in you to expand business benefitting them.

2. Get them Clients
The sale means getting them sales who will pay for the services, it may include generating sales by selling courses of the organization profiting the company. Sales are having one-to-one conversations with the clients and asking them to participate in the organization and telling them about all the services they will be getting after they pay for the organization.

3. Client service and experience
This is a very important role that is after you generate clients and get sales done asking about feedback is very important. Asking the client his/her experience is the same as winning the hearts of the client and will also profit you later as it may help you to understand the flaws done before and now you will be sure not to repeat them.

4. Strategic Initiatives
Make strategies, a step-by-step procedure to generate sales and business to grow.

5. Market Development
Market Development includes growing business to the highest extent you can.

6. Marketing
As discussed earlier it is the skill required for you to get into the job of a business developer. Marketing is everything doesn’t matter how big or small a company is, a person with good marketing skills can uplift the organization the way nobody else can.

The goal of a Business Developer:
• To make Business better.
• Generate revenue profit from market
• Compete with other businesses
• Business expansion

How much do Business developers earn?
The average salary for a business developer is 19,925 per month in India.
Also if you have the capability to grow the business more your salary could be up to 1.5 lakh/month
A career as a business can be tough and challenging but with time you learn all the tactics and realize that the work all depends on your skills.

Turn your career in a better way:

Do not wait for the other opportunity and grab if you really think you deserve to be a good business developer. Apply to internships on Internshala and many online platforms like Internshala and gain experience to learn how the work is done which will help you to attain a good business developer job at a good salary.

All the best!