How to Do SWOT Analysis for Business?

A SWOT analysis is a simple tool for analysis strengths (S) and weaknesses (W) in the business as well as external opportunities (O) and threats (T). This is the best tool to make planning for achieving the goal. Every businessman can use this tool to take required action and lead a business successful in the market. This is a great way to identify internal and external defects in the business and fix those as well.  It helps your business to protect from any type of flaw. The big secret behind every successful businessman is the use of this tool.

swot-analysisIf you are a businessman and you did not use this tool yet to run your business successfully then let us tell you how to use it. First of all, you should know the uses of this tool in the business. The SWOT analysis can be used for:

  • To examine a small business idea.
  • For annual business planning.
  • For marketing action plan.
  • For business contingency planning.
  • To solve a particular problem or business related problem.
  • To make yourself fully skilled to good management of staff.
  • To achieve business goals.
  • For running your business successfully.

One common question in everyone’s mind that how to use this tool in right manner. So don’t worry, we are here to describe the complete use of this excellent tool to get success in business with the following steps:

The first step – Make a chart for SWOT Analysis

Just like a student, create a chart of SWOT analysis to pass the business exam with good marks and high grades. Divide this chart into four parts with the name as strengths, weaknesses, opportunities and threats. Fill the each box with specific reasons like what are your strengths? What is your weakness? Which opportunity is the best for you? What kind of threats are you facing? Be clear with you like a mirror and note down all the factors in these four blocks. Once the table is ready, you can use it to create a business strategy which will boost your business successfully and help you to become a successful businessman.

The second step – Write down questions and answers

A paper and a pen often do such things in your life that you cannot think of. Now take a pen and paper and write down these questions in series.

  • Do our strengths fulfill all the requirements of available opportunities?
  • How can we convert business weaknesses into strengths?
  • What should we do to make the right use of opportunities?
  • How can we neutralize the impact of threats?

Believe me!! By answering all these questions, you will find a better result in your business and then you will be able to recognize all your strengths and weaknesses that will help you to get many good opportunities to get success in the future. It also will help you to fight against all kinds of threats and to get the right solution for it. There are many big examples that show the importance of this tool in business growth. Maximum renowned company uses this tool to find solutions to all their queries.

The SWOT analysis is a great way to use it for business growth. It is beneficial in every sector. It is not important that what is your business size or what are your business objectives, you can use it. Even use of this tool in right way is important.

I wish, after using this tool you will be one of the successful businessmen in future.

How to encourage your employees?

Encouragement creates the productivity. Especially, it works to encourage employees. Every successful leader gets success in their business just because of their employees’ hard work, dedication and unique creativity. Believes me!! To get same productivity from the group of the employees is not an easy task. It all depends on the leader or owner of the company that how they encourage their employees to create more productivity.

encourageThe importance of encouragement proves when it is successfully applied for a period of difficult time and less progress of the organization. It is a technique combination of art and science that how a leader of the organization provides incentives to employees especially in difficult times to get better productivity. A responsible leader always should have the ability to read and respond on the emotional needs of others by emotional intelligence. The proper body language, the correct choice of words and the right interaction with others will be helpful in the encouragement of the employees.

Here are some useful techniques for the leader to encourage their members

Better communication with employees

If you are only connected with your employees by an email or a newsletter then it will take you away from achieving your goals. With the help of emails and newsletters, you will not be able to tell your employees their vital capabilities. To motivate your employees for better creativity you need to communicate with them frequently and face-to-face. As an employee, I can say that the every staff needs to know their important value in the organization. I am sure, the appreciation of employees’ hard work helps to boost their energy to generate more productivity.

Known the needs of employee

Generally, problems occur during the working. In some cases, an employee is not satisfied with his work. Here you need to consider the things/requirements of each employee. You need to improve your observation skills so that you can easily observe the employee’s needs by watching and listen to any changes in their behavior. Always try to fulfill their requirement by listening to their problems and needs, so that they could never go towards frustration and despair, these frustrations and problems can reduce their productivity at work.

Always be an example

To make your team hardworking or dedicating, you always need to prove yourself in front of them as an example for achieving a goal. Unless you become a big example in front of them, you cannot expect hard work from them as you want. As a team leader always give your best to your organization. Whenever you get time to show your excitement about the company’s goals and valuable points in front of the employees. Make sure, if you will be excited for achieving the company’s goals then the employees also will get on board to achieve set goals with full excitement and energy.

Improve employees’ skills

Always guide your employees to give their best. Always support them by providing helpful suggestions to increase their productivity or performance at their work. Each employee expects from the team leader to guide them well and introduce what is good and bad on their performance. Even in maximum cases, the leader hides their creativity skills and not shares it with the employees. As a result, it causes lack progress of the company, which takes away the company from its goal. Therefore, regularly take employees’ reviews regarding their improvement. Always try to take their advice and suggestions for organizational growth and implement as well. To make your employees motivated and empower give them the rights to take their own decisions. It will really help to encourage them for the great productivity.

How to Stay Focused At Work?

Either you are an employee or entrepreneur; there are lots of things that serve on your plate to handle. To stay focused on such things are very difficult task according to the demands. Many times, you need to focus on your work at the same time your clients may call on your phone, send you email etc. At that time, your workload becomes doubles and brain completely defeat. These kinds of situation can reduce your productivity on your work, where you give valuable time, efforts and creativity.

Stay Focused At WorkHere is no solution to come out completely from these problems because as an employee or entrepreneur these conditions occur. To stay focused at work is all in your hands that how you manage your work in such kinds of situation. Just go and find out the right techniques, explore your priority and stick on that.

We are introducing some simple techniques and ways to stay focused at your work.

Go into “flow”

Are you really in the “flow” during your work? Always think before to blame others for your less productivity. Flow is the state of our brain that can be improved by strengthening the ability to focus or concentrate. When we fully execute our actions and set them towards the peak, the strength of the flow becomes stronger. Always try to do your work more enthusiastically and use energy to complete the task.

Plan ahead with little breaks

Before starting all your work, make a written list of important tasks by the end of the day and set the time for completing it. Find a planning method that works best for you, make a priority list, schedule hours of work and note the entire activity of the day.

Don’t forget to include your breaks in the planning as well. Always plan your breaks during the task for energizing and refresh your mind to continue the work because the brain is not capable of continuation working of 8 hours. It needs a break to recover it.

Stay away from social media and “turn off” notification

There are a number of people who operate their personal email accounts and use social media during working to rest the mind and come out from tiredness. But this is a big mistake. It is our misconception that we get the comfort of our brains from social media or other such things. By using social media or anything related to it your energy gets energized because the brain has to act on a lot of information related to it. It can cause of your less productivity. So, turn them off and see how your focus improves immediately at your work and task with improving productivity.

Don’t forget to turn off all the notification of your personal emails, facebook, twitter and other related such things in your phone and stay away from it.

Establish comfortable work environment

If you are still not capable of focusing and concentrating on your task after your full physical efforts then you need a perfect work environment that comes to supports you to focus and helps to increase your productivity. To make such kinds of environment, you need to organize your cabin or workplace beautifully. So, clean up your desk, arrange your computer systematically, remove all the posters from the walls and always keep daily fresh flowers on your desk. Really, it will make a fantastic environment to get focused at work and give the best result to you.

Other significant things to get focus at your work

To-Do list: Organized your To-Do list and mentioned your daily task to complete it the end of the day.

Set a deadline: Set deadline to complete the task on your To-Do list. It will help you to reduce pressure to complete the task and will increase the state of flow on your main task.

Write down ideas: During working, many useful thoughts and ideas may come in your mind to make business perfect that can distract your focus from your work or task. At such condition keep a pen and notebook close to you and write down the ideas when it comes to your mind.

Block all distracted websites: During working, maximum time you connected with the Wi-Fi or the internet and there are lots of distracting websites that create obstacles in work and distract your mind from focusing. So, there is a simple thing, just go and block all these kinds of distracting websites and stay focus at your work.

Stay out from the noisy environment: It is impossible to get complete silence at your office during work. To come out from these problems always try to listening natural sounds on the background rather than the people’s noise of the office or use noise-cancelling headphones to stay focus on your important task.

Stay away from your phone: If you prefer to keep your mobile on the table then you can place it under the notebook and use it only when you need it.

Do you know how to start a small business?

Almost everyone wants to start his own business. The strategy of starting a business is almost same either it is a small business or a big business. There are some specific things for every beginner need to know to start a business to stay on the right side of the law, to start a business with the highest potential for success.

Establish your own business can be a big event of your life but before starting it, save your time and money by being familiar with the information about what things need to involve in running a business. Investment of time according to appropriate planning is essential to turn your dream into a reality. Operating a small business is not an easy task, it is not just about working for you or working from home, it is about having the essential skills such as management skills, technical skills, industry expertise, finance management, long-term vision, development and success.

small businessAre you ready to start a small business? So, here we are providing you the complete business planning toolset that will help you in proper planning, exact preparation and good management of your business.

1.  Make business plan

It is important to make a business plan that may include many factors but most common things are market analysis, product or service line, fund, marketing and sales, organization, management and expected profits.

2.  Take training and proper guideline

To expand or reinstate a business, prepare a business plan and take advantage of training and consulting services available for running a business successfully.

3.  Decide business area

Location selection of a business is one of the most important decisions for a small business owner. It requires accurate planning and proper investigation that may include demographic research, competition monitoring, evaluation of supply chain, understands state laws and taxes, stays on budget and more.

4.  Fund for business

If you are in need of fund to run your business successfully then there are government and venture capital firm that can help you to start and run a small business.

5.  Business structure

Make a decision to take the best kinds of possession for you such as Limited Liability Company (LLC), sole proprietorship, cooperative, partnership or non-profit.

6.  Register your business name

Your business name is essential for business branding. You can choose your business name as your personal name or something that you like. A business name is needed to register with the respective government authorities.

7.  Tax registration

It is required for the business owner to pay business taxes that vary in each state. Some local taxes are also compulsory to pay. Therefore, you will have to register your business for paying taxes.

8.  Permits and business licenses

There are some permits and licenses are very required to run a business successfully and legally. So, make a list of such permits and business licenses and apply for those.

9.  Responsibilities of employers

Responsibilities of an employer are different from employees and more, so you should be ready to pay more responsibilities.

10.  Local assistance

Local government bodies and the small business administration are always available to help you to plan your small business. So, get full details of local government assistance may help to run business in the right direction.

These top ten tips will surely help you to start your business with long-term profitability.

Benefits of startup India

The India has become the largest startup spot in the world. The startup is becoming very popular every day in India. It is playing a big role in encouraging innovation, job creation and positively impacting on the social-economic fabric of the country. To promote entrepreneurial spirit and help Indian economy, the government of India has taken several initiatives under the Startup India. There are lots of benefits of startup India, some are described below.

startup india

  1. It is easy

There is the easiest way of registration for everyone in the startup with easy use of the mobile app and the website that is launched by the government of India. If anyone is interested in startup and set up then he or she can fill the simple form on the website and upload certain documents. The entire process of the startup is completely online.

  1. Provide a cost reduction facility

The list of patents’ facilitators and trademarks are also available in the startup provided by the government. They offer the high-class intellectual property rights services including a quick examination of a low-fee patent. The government only takes facilitating charges so you can enjoy 80% reduction in the cost of the patent filed.

  1. Easy to access the fund

A fund of 10,000 crore rupees has been set by the government to provide funds for startup in the form of venture capital. The government is also giving the guarantee to the lenders to encourage the banks and other financial institutions to provide venture capital.

  1. It is tax-free for 3 years

There will be no income tax payable on all the profits earned in the first 3 years. Thus it is government’s financial assistance to the startup.

  1. Apply for tenders

The startups also can apply for the government tenders. The startup India is exempted from the “pre-experience / business or turnover” norms applicable to general companies applying for government tenders.

  1. Research and development facilities

The seven new research parks will be established in the research and development sector to provide better startup facilities.

  1. No time-consuming compliances

For saving the time and money of the startup, various compliances have been simplified. Through the Startup mobile app, startups are allowed to self-certify compliance with 9 labors and 3 environmental laws.

  1. Tax saving for investors

The people investing their capital in the enterprise fund established by the government will get the exemption from capital gains tax. This will help a startup in attracting more investors.

  1. Choose your investor

The startups will have the choice between the VCs, where they are free to choose their investors.

  1. Easy to exit

In a case of the exit, the startup can easily close the business within 90 days from the date of application for closing business.

  1. Huge networking opportunities

The government has proposed to organize two start-up festivals at a national level and international level so that they can meet with the various stakeholders of startup. This will provide the vast networking opportunities.

The startup is extremely encouraging by the government. Therefore people are setting up startups. If you are one of them then tax relaxation can help you on your way.