You do need someone to warn you from dangers in business

Call it inertia, call it ignorance or stubbornness, we tend to get caught in our own illusionary perspective of what is a safe business environment and who are trustworthy and dependable people in your domain. You got to acknowledge the fleeting and dynamic nature of relationship in business environment. You got to be aware of the powerful external influences which can alter the perspective and behavior of business stakeholders without you notice or without warning. You have to be conscious, attentive and adaptive to the ever changing business and corporate landscape. No point complaining. Just intuition is not enough; you might need someone or few trustworthy people around you who can validate your intuition. 

Tweet

Follow @DiaryofMentor

Talking about mentorship in this information liberalised world,

Apparently there are more mentors than seekers today. If you search for people on internet similar to you who want to make money, you will find lots of them but you will find even larger number of people willing to teach you how to make money even for free. And many of them are serious. Do it to believe it. 

Tweet

Follow @DiaryofMentor

Free or paid, you need a mentor!

Mentors are there to guide you when you are lost, they are there to validate your dream, and they help you dream big, they help you remain sane. Everyone need a mentor at some point of time in their life and anyone can be your mentor from your wife, your daughter, your friend, your parents, your colleague your boss, or some professional mentor depending on who extend their wise advice to you when you need most. 

Tweet

Follow @DiaryofMentor

Solution also needs maintenance

We are always looking for permanent solution in business and personal life, or solution to solve the problems of world, the poverty, hunger, or financial meltdown, fighting back to solve the problem. There is no conclusion, no single solution when we are searching for answer.

Solutions are temporary and fleeting in nature, larger the issue more volatile is the solution, in business every day throws a new challenge, and one need to respond sincerely with appropriate answer, keeping in mind that this solution is temporary in nature, solution has to be reinvented in course of time in the light of ever changing business landscape and technological evolution, even if the problem remains same. 

Tweet

Follow @DiaryofMentor

Which way out..

Delving deep into the question show you the way out, not escaping from it.

Escape or avoidance of particular problem might give you an assumed temporary relief but that problem will be waiting there for you to return, waiting intact, waiting to be addressed, to be addressed with most sincere effort. Apply your brain or seek help, but address it now, might improve it later. You will witness and wonder how many will come forward to help, to lend a hand if you seek help, if they won’t be able to give you money they will surely give to wisdom, a piece of their mind, a piece of their experience. 

Tweet

Follow @DiaryofMentor

How to choose Best Name for your Business

Words are loaded with emotions; also, same word holds different meaning for different region, community, age group, audience, ethnic groups, etc.  There is much competition in the industry as well and most of the first few names which come into your mind for your business or company are already occupied, web domains are already registered, you will find hundreds of similar names already in use. Company name also attracts legal attention, copyright and similar issues. So, one has to be very careful while choosing a name for their company.

Name signifies a lot about a lot many things, like the nature of business, geographic presence, direction of business, attitude of company etc.

Choose a name which is distinctly unique, may be a combination of few words or derived from them, but be careful to choose words from mainstream industry, so that it makes some sense to a layman or your target customers

Create a name which is global in its appeal even if you start local, because you might have to go global if future.

You can also choose a name which is derived from the very core of historical and cultural treasure of the region where you have launched your business, signifying its root.

Come up with a name with which people can relate themselves.

Choose a name which is easy to remember and has potential for word of mouth publicity.

Choose a name which is positive is its appeal.

Understand the legality of your business, choose your business name and content which is unique and does not attract legal notice. You can consult a lawyer or accounts consultants for further legal and procedural guidance.

Learn 25 Rules of success for business and online startups in the following article

http://fromthediaryofmentor.blogspot.in/2012/03/25-rules-of-success-for-business-and.html

Tweet

Follow @DiaryofMentor

How to motivate your sales team

There is no predefined highest achievable target when it comes to sales and it varies from product to product and service to service, so there is always some scope of improvement, but one can always push the target further and chase it, which should be further backed by rewards and incentive through company policy to motivate the sales team, Chasing an apparently difficult target gives a thrill and help keep the team and employees positively charged. Motivation can surely help. One can try short term training program or organizing a workshop by influential and motivating mentor in said field.

To know what’s common between successful business leaders see the following article http://fromthediaryofmentor.blogspot.in/2012/02/what-is-common-between-successful.html

advantages-of-niche-marketing.html

Tweet

Follow @DiaryofMentor

Key to TV Commercial business

TV commercials are highly competitive in nature and since viewers are getting more and more aware every day about the products, while being exposed to tempting products and offers of so many rival companies through different social media streams, one has to be very cautious while getting into TV commercial business. Few tips and question to ask yourself to get into TV commercial business -

Create a portfolio with different brands and products,

Focus on developing theme and script of your commercial no matter even if you are selling imaginary brands.

Test the commercials online through YouTube and different media channel.

Learn from the viewer’s feedback, re-launch the next version

It’s not just about what brand you choose to promote it’s about how you take an ordinary product and create a brand out of it.

It’s about how well you convey the message across to the audience, in that short period of time,

How sticky is your commercial, is it good enough for word of mouth publicity?

Does it have potential to go viral online?

Does it have wow factor?

Learn 25 Rules of success for business and online startups in the following article

http://fromthediaryofmentor.blogspot.in/2012/03/25-rules-of-success-for-business-and.html

Tweet

Follow @DiaryofMentor

Do you need to go to college to be an entrepreneur?

It partially depends on what kind of business you want to start. Formal educations up to the college might not be necessary for some creative entrepreneurs but it helps you on many fronts like personality development, interaction skill, of course industry knowledge, business intricacies etc. but usually pre-college education can help understand the basics of business dynamics, and will help interact with people in general and specifically client. Whether college or not one should definitely learn basic finance and one can always keep increasing their business and industry knowledge while keeping track of market affairs. 

In this information age it’s easier than ever to acquire knowledge, through different social media streams. It’s an open knowledge economy; people are much more open and willing to share their success stories, business tricks, business pitfalls and lessons compared to past. Feedback was never so readily available through the emergence of blogs, forums, etc. There are ample success stories to justify the need of formal education and equal ample stories where successful entrepreneurs have emerged without formal college education, but there were few common traits in both the categories, which is – Vision, determination, hard work, persistence and continual search for knowledge while reinventing themselves. 

Learn how to read a business bestseller before it’s written in the following post

http://fromthediaryofmentor.blogspot.in/2012/03/reading-bestsellers-before-its-written.html

Tweet

Follow @DiaryofMentor

Reading bestsellers before it’s written

You can't really afford to wait till someone gets inspired or disappointed or elevated or frustrated from everyday life or everyday business and compiles vivid colorful stories and experiences to mesmerize you, writes it down, get it published and waits till it hits the chart of bestseller, and book goes viral. By the time you are reading the book on a business trip journey or on a lazy Sunday afternoon story is as old as the first inspiration of bestseller writer which might be as old as his or her childhood memory or a decade or a year or few months old. You know the lightning pace at which the world and technology is changing, strategies evolving, myths are made and broken, breakthrough happening and believes are shattered as well as strengthened. You can judge yourself the relevance of those consolidated ideas in form of literature at this moment. 

Why not to have a glimpse of what’s going on at present in the human psyche and interaction, their hopes and aspirations. Why to wait till some skilled author will compile all this for you. Why not to go and read the first hand experiences and aspirations and lessons of millions out there writing every bit of their mind, a collective real time literature of mankind on blogs and forums and websites. Just be wise enough to know which information to relevant and which to discard. 


Similar is the process to understand your business from customer’s point of view. Now learn how to build and sell brand image of your business in following article- http://fromthediaryofmentor.blogspot.in/2012/02/6-ways-to-improve-your-products-and.html

Tweet

Follow @DiaryofMentor

How to deal with business competition

If you think you can beat the competitor with rock bottom pricing, it can only be a short term strategy, its not sustainable. Bringing prices down to attract the customers will only reduce your profit margin, and you are only likely to compromise with quality of product or services.

To survive the competition or to win it, all you need to do is to provide uniqueness in your product or service or both to the end users. When number of people is selling the same product or service you need to differentiate yourself from the masses through innovation in product and services. 


Another advantage of having uniqueness in product and service is that you can dictate and control the prices and slowly a unique category of loyal customers emerges to buy your product and services, which also help promote your business through word of mouth publicity. You will need to create your own niche market by providing uniqueness to cope with Competition. Know top advantages of Niche Marketing, here - http://fromthediaryofmentor.blogspot.in/2012/02/top-10-advantages-of-niche-marketing.html

Tweet

Follow @DiaryofMentor

Tricks of public relation - Workshop & Seminars

Attend every seminar and workshop in the city for first few years

Find out frequent faces of your industry attending seminars & workshop

Find out more about those influential personalities

Go ahead and introduce yourself - no matter how brief is the conversation

Do not forget to exchange business cards

Do write a customised mail to each of them within a week

Appreciate what they said or delivered in the presentation, or just thank them for their time

Do not let them forget you - keep posting mails appreciating their latest venture - also join them on Linkedin

Keep in touch

Your target is to be a recognized face in the crowd of thousands standing with the people you appreciated in your business startup days.

View top 10 suggestions for new startups and entrepreneurs, in the following post - http://fromthediaryofmentor.blogspot.in/2012/02/10-suggestions-for-new-start-ups-and.html

Tweet

Follow @DiaryofMentor

Expand your business through Top 10 QR Code promotion approaches

QR Code holds immense marketing potential through both virtual online as well as physical world. Most of us know the tricks on online marketing and promotion. Promotion through QR codes are relatively new compared to online community and holds innumerable and ever new possibilities based on creativity on individuals and companies, some of these less explored or unexplored vistas of QR code promotion and marketing can be as follows.

QR code on product itself - helps educate customers about the product and company

Compulsory QR coding on Company brochures & pamphlets - promotion through workshop seminar pamphlets distribution

Integrating QR Code in company Business card of all the employees - minimalistic power packed business card

Cross company promotion through QR code- leveraging advantage of extended companies

QR codes on company owned vehicles/ fleets- promoting business wherever it goes

QR codes on Corporate gift items - Festive QR coding

QR billboards - for product promotion and company brand image 

QR Countdown timer at strategic locations - for public events, sports events, new year etc.

QR Sculpture and furniture for your office

QR coding art - creating eye catching QR codes with variation (which is possible without losing the code quality)  

Learn how to promote your business through Public Relation (PR) in the next article - http://fromthediaryofmentor.blogspot.in/2012/02/tricks-of-public-relation-workshop.html

Tweet

Follow @DiaryofMentor

One page Business Philosophy

You should be able to summaries each component of your business for clarity, simplicity and understanding, though you can keep the details of business components for further reference.

One page Vision and Goal to guide the company

One page Target to drive the company

One page ever ready Business Plan to expand the client base

One page of Company Policy to guide the employee

One page Company Culture for uniformity

Know “why your Business needs to have a Vision” in the following post - http://fromthediaryofmentor.blogspot.in/2012/02/why-you-need-to-have-vision-for-your.html

Tweet

Follow @DiaryofMentor

How to keep business proposal and project schedule realistic

It's easy to get swayed away by sheer numbers - do regular reality check

Don't get overenthusiastic with numbers - get your numbers validated by partners / trusted others

Overall business plan should make sense to your over-skeptical clients

Keep all the odd possibilities in mind while preparing project time schedule 

Business strategies should reflect in numbers and should complement each other

Try to foresee all the future obstacles and keep the time schedule flexible enough to accommodate the time lost due to this obstacle

Learn how and why to use Mindmapping tools which helps you streamline your business and makes your business plans realistic- http://fromthediaryofmentor.blogspot.in/2012/02/why-entrepreneur-should-start.html

Tweet

Follow @DiaryofMentor

6 ways to improve your products and company image

Customer feedback and Input

Quick Online Survey - Hire a online survey firm, integrating quick poll form in your website etc.

Studying available online comments on forums, blogs etc.

Periodic company brand image makeover to keep pace with the marketShift in strategies, if needed

You need to hire best designers in industries - Bootstrapping other requirements if needed 

You will learn about what is the common success factor between all the business owners in the following article- http://fromthediaryofmentor.blogspot.in/2012/02/what-is-common-between-successful.html

Tweet

Follow @DiaryofMentor