Your Business Adventure Begins Here: A Step-by-Step Guide to Launching

Starting a business can be an exhilarating adventure into entrepreneurship, where every step brings you closer to realizing your goal. But it can also present many obstacles along its journey. Thus, I have partnered with Grant Polachek from Squadhelp to publish a guest post here. He has put together an invaluable step-by-step guide on launching your venture. Let’s work on your entrepreneurial adventure together.

Your First Step

The initial step to succeed as an entrepreneur should be discovering your entrepreneurial passions. Unleash what truly excites you and build your business around that interest – passion drives success in business ventures!

1. From Idea Sparks to Business Plans: Turning your ideas into actionable business plans is vital. Here is how you can outline your concept, set goals, and develop a roadmap for the future.

2. Market Research Magic: Successful market research is crucial to understanding your target audience, competition, and industry trends. Let’s discuss how to conduct compelling research studies that provide vital insights that help shape business concepts.

Establish the Foundation

1. Naming Your Business: Naming is more than a formality–it is integral to creating your brand identity! Our experts will walk you through the steps for selecting an exciting and memorable name that embodies all that your business stands for.

2. Discover Your Funding Options: Examine various funding strategies available, from bootstrapping and seeking investors or loans to creating a solid financial plan to meet your business goals.

3. Navigating Legal Waters: Navigating legal waters as part of business ownership can be complex. We will discuss the structures, permits, and licenses necessary for your operation to run efficiently within the law.

Establish an Online Presence Today

Having an online presence is imperative. Understand why and learn how to develop one through creating professional websites and compelling brands online, with the assistance of platforms like Squadhelp to optimize your brand’s impact and recognition.

1. Networking for Success: Building and cultivating connections are crucial assets to any entrepreneur, and here we’ll cover strategies for effective networking and relationship-building that can help make your business thrive.

2. Crafting Your Business Story: Every successful business needs an engaging storyline. Discover how you can craft and tell it effectively so that it connects with audiences on an intimate level.

Testing and Launch

1. Prototyping: Before officially releasing your product or service, prototyping provides the ideal way to test it and collect feedback before its full rollout. Let’s discuss its importance and how best it can benefit you!

2. Learn the MVP Approach: Applying the Minimum Viable Product (MVP) approach quickly and efficiently will enable your business to launch rapidly while gathering early insights to refine its offering further.

Marketing and Growth

Determine and develop innovative marketing strategies tailored specifically for startups, including content marketing, social media strategies, and guerrilla tactics designed to gain visibility and attract customers.

1. Scaling Your Adventure: Expanding and growing your business is exciting, so you need to focus on strategies for expanding operations, expanding markets, and broadening customer bases.

2. Survival Skills: For Startups Business competition can be tricky. Mastering essential survival strategies to navigate challenges effectively and pivot when needed to guarantee the long-term success is cruicial for the business. So, define your strategies accordingly.

Resources and Support

Discover invaluable business support organizations such as incubators, accelerators, and business support organizations that offer guidance, mentorship, and funding opportunities for your start-up venture.

1. Explore Technology: Discover essential tools and technologies to streamline business operations, manage finances effectively, and increase productivity.

2. Entrepreneurial Learning: Being an entrepreneur requires continuous education. So, keep yourself up-to-date by reading latest books, learning from new courses, and using new platforms to keep up-to-date and continuously hone your entrepreneurial abilities.

Conclusion

Your business journey can be an adventure of opportunities, challenges, and growth. By following this step-by-step guide as your compass, you are well-equipped to navigate the entrepreneurial terrain successfully. Remember that every setback is an important stepping stone, while every triumph proves your hard work and vision.

As you embark on this exciting venture, remain true to yourself, adapt quickly to changing circumstances, and never cease learning. Your entrepreneurial spirit and determination are at the core of its success; keep those qualities close as you pursue this exciting venture!

Your entrepreneurial adventure begins with you; its possibilities are limitless! Seize every opportunity, face every challenge with courage, and watch as your entrepreneurial dreams take from – good luck on your path to entrepreneurship success!

 

Can you win your team’s trust by blaming the upper management?

As a line-manager, it becomes really tempting to distance yourself from your own superiors. It seems an easy option to win the hearts of your employees by blaming aggressive deadlines, overtime, and new process changes to the upper management’s initiative. Isn’t it? Does this mean that you have discovered a gold mine to develop a trust relationship between you and your team?

It’s not quite that easy. If you want to create bonding with your employees then there are other avenues to do so instead of creating this bonding over being a victim of the upper management together. By blaming all the unfavoring decisions to your upper management, you are eventually damaging the confidence of your team. Some of the side effects may be…..

1. High turnover: Your team will feel that they can’t trust the organization anymore, and hence, they will start looking for their next career move.

2. Team stagnation: Due to the negative perception of the upper management, your team will think that their inputs are not valuable in the organization. Thus, they will stop providing their valuable inputs to you, and hence, they won’t be able to provide any value to the organization.

3. Loss of respect: Even though you started blaming the upper management for all the negative decisions to build the trust between you and your team, you won’t be able to help yourself from losing the respect of your team. Due to your negative publicity of the upper management, your own team members will think that you are weak and powerless in the organization. And hence, their respect for you will decrease over time.

Thus, when you think that the easiest escape from your team’s negativity is to blame the upper management, then think twice. Don’t ever use phrases like…..“I don’t know why we’re doing this”, “no one ever consults with me on these new initiatives”, “I disagree with this upper management’s decision as well” etc.

A true leader should have the courage to represent the upper management and their views. If you disagree with their decisions, then instead of blaming them in front of your team members, confront them, try to understand the reasons behind those decisions. And remember……by blaming your superiors, you are not going to build any relationships, you will only lose respect of your team.

 

Become the best leader by being funny and being humiliated

Over the years, I have learned a lot about leadership and management. And when I was analyzing my knowledge, I realized that there are only two very important characteristics of a good leader, which separates him/her from the crowd. In this blog, I will focus on these two characteristics, which can make you the best leader.

Be funny:

By being funny, I don’t mean that you need to be a superstar at the break room discussions. What I mean is……..you need to have a humorous side of you to laugh on your mistakes.

One of the best leader in the world, who implemented this strategy was – Mahatma Gandhi. It must have taken tremendous amount of courage for a person like him to confess that he messed up, but he confessed his mistakes on various occasions. He not only acknowledged his mistakes but admitted them publically. And this was one of his characteristics, which was admired by his peers.

We are all humans, and we all make mistakes. But a true leader is the one, who not only admits his mistakes but learns from it. Take Johnson & Johnson for example. Their Tylenol incident is not a secret to anyone, but majority of people remember that incident by praising Johnson & Johnson’s effort of recalling all of its medicine from the counter and apologizing publicly for this huge mistake.

Thus, it is very critical for you as a leader to be able to laugh on your mistakes. It’s not enough to just publicly admit your mistakes. Make sure to take some notes. In this way, you will be able to implement your learning from this incident to the future projects, and maybe, not repeat these mistakes again.

Be humiliated:

If you want to become the best leader in the world, then you need to surround yourself with genius employees. Look at Steve Jobs, Bill Gates, etc. They have always surrounded themselves with cream employees.

Let’s say, you somehow get successful in attracting best-of-the-best employees in your team. Now, instead of learning from them and taking benefit of their knowledge, if you direct them specifically to do certain tasks then they are never going to add any value to your organization.

Unfortunately, 40% of today’s leaders would use tell-and-direct approach, since they fear of humiliation from their employees. While this approach might lead you to the desired results, you are suppressing ideas of improvements that your employees might have. Wasn’t this the exact reason why you hired intelligent workforce? So, how come we are unable to use their talents? Answer is very simple……most of the leaders are afraid of being humiliated by their employees.

Thus, to become the best leader, we should be open to new ideas of our employees, even if, that means we will look foolish in front of them when we ask questions. By developing this kind of an environment, you would be encouraging your employees to share knowledge freely, and hence, improving the overall health of your company.

I hope these tips will help you to become the best leader in today’s world. Do you have any other ideas through which a person can become the best leader?

Thanks. – Bhavin Gandhi.

 

Set Your Line Managers Up for Success

I would like to welcome Kyle Lagunas to my blog, as a guest blogger. I am glad to have him share some of his lessons from the field of HR management  – Bhavin Gandhi

In a time when the workforce is increasingly transient, your ability to identify high-performing and high-potential employees—and that of your managers—is critical. And yet, many struggle to distinguish one from the other, negatively impacting their ability to develop and retain top talent. In many organizations, performance is the primary measure of an employee’s value in the organization. Star performers are promoted and rewarded, while diamonds in the rough become disengaged and move on.

Don’t get me wrong–you should definitely value performance. But if your end goal is to build a more robust talent pipeline (and it should be), performance can’t be the only point of entry. To that end, there are strategies that any manager can apply to develop high-potentials and high-performers effectively.

Step One: Identify

High-performers stand out in any organization. They consistently exceed expectations, and are management’s go-to for difficult projects. They take pride in their accomplishments, but may not have the potential (or the desire) to succeed in a higher-level role.

High potentials can be more difficult to identify, especially for line managers. That’s because most valuable attributes (e.g. stress management, adaptability, business sense) aren’t catalytic in entry-to-mid-level roles. Potential is subjective to what a company values, of course, but there are innate attributes that distinguish them from high-performers.

Line managers’ observations are often limited to the most obvious traits (time management, communication skills, attention to detail). By working with leadership, however, managers can profile the skills that ensure success in key roles—and be on the lookout for examples of both high performers and high potentials from day one.

Step Two: Assess

An established standard of the attributes and competencies of model employees is also an essential part of objective assessment. And though there’s a distinct difference between potential and performance, experts agree that employees should be assessed on competency in both.

Each category requires a different development strategy. With a clearer picture of who falls where, managers can make more informed decisions in how to effectively develop them. For example: High Po/ Low Per employees may need to improve their ability to perform consistently, or may be moved into roles better aligned with their natural abilities. And High Per/Low Po employees would be ideal candidates for soft skill development–or for roles that require more technical skill.

Step Three: Engage and Develop

The important thing about development and engagement strategies (especially for high-potential vs. high-performance employees) is to tailor your efforts to drive the results you want. Typical engagement strategies could look something like this:

Recognition is key for High Per/Low Po employees. They need constant encouragement and challenging assignments. Rather than promoting them to roles they don’t want (or aren’t ready for), give them the independence and engage them with projects that they can take full ownership of.

Alternately, while High Po/Low Per employees are hungry for more high-impact work, they need seasoning. On the job training is a great way to accomplish this, especially when pairing them with high performers. As they develop a stronger understanding of the organization and their role in it, give them projects to manage, new hires to train, and offer cross-training opportunities.

Set Your Line Managers Up for Success

Your line managers are the gatekeepers to your talent pipeline, and they’ve got their work cut out for them. While most will have some natural ability in identifying, assessing, and engaging performers and potentials, few will be adept at all three. If you want to improve your ability to retain top talent, it starts with your line managers. Set them up for success, and invest in their development.

About the Author: Kyle Lagunas is the HR Analyst at Software Advice—an online resource for HR software comparisions. He reports on trends, technology, and best practices in talent management, with work featured on Forbes, Business Insider, Information Weekly, and the NY Times.

 

How to sell your online MBA degree to future employers?

Have you finished your MBA through an online program? Are you unable to experience any benefits from your degree? Well…..you are not alone. More than 50% of the employers still prefer an MBA candidate with the traditional classroom experience as compared to an online MBA student. Despite of this stereo types of an online MBA candidate, you can still succeed with your degree. You just need to know, how to sell it. With this blog, I am going to provide you with some pointers through which you can get the same benefit out of your online MBA program as compared to any other in-class MBA program.

Capitalize on cultural awareness:

If you are doing an online MBA from a Tier 1 or Tier 2 level school, then chances are…….you must be working in a diverse team with people from different countries. You should use this experience as your strength during your job search. Mention those specific projects on your resume to portray your knowledge of cross cultural understanding. With most of the major companies going global, this experience will definitely work in your advantage, if presented correctly.

I would also recommend you to provide some specific examples on your resume on how you had solved some of the cross cultural conflicts. These kinds of smaller examples can help you bring up this topic during your in-person interviews. And you can then elaborate on that in further details. It goes without saying…..try to connect your experience with the company’s current needs of working with cross cultural teams.

Be the leader of your virtual teams:

If you think of it, all the project teams in an online MBA program are nothing but a virtual team. In your program, you must have worked with different people from different time zones to finish certain projects. And hence, you should also capitalize on your experience in working with remote/virtual teams. Don’t just say…..”I have worked in a virtual team”. Try to be more specific on your resume. Provide examples on how you resolved issues due to time and language barriers during your project. It wouldn’t hurt, if you can talk about those experiences in your in-person interviews, and maybe summarize with lessons learned during your experience.

In today’s world, lot of companies operate in different locations. Thus, most of their meetings, projects and day-to-day activities are virtual. Thus, if you can prove that you have not only worked in that environment, but you have also learned how to improve those communications in that environment; then you would definitely standout from the crowd.

I hope these tips will help to sell your online MBA degree to your future employer. Do you have any other ideas through which you can show the importance of your online MBA degree to your future employer?

Thanks. – Bhavin Gandhi.

 

Reduce your employee turnover rate by hiring fresh graduates

In my last blog, I have discussed about how you can save some money and re-training costs by hiring a fresh graduate instead of an experienced professional. In this blog, I will provide you with few other reasons why you should prefer fresh graduates over an experienced person.

Flexibility: In my experience, I have found less experienced people more flexible as compared to very experienced professional. For example: I had this one intern, let’s call him Mr. X, who was very self-motivated to learn. Thus, Mr. X will come early every morning, and read all the required process documents and training documents before he started his work. He would still work his core hours with some of my other experienced team members, but he was always willing to put in some extra time to learn new things. His hunger for learning new things helped me a lot, as he would come on weekends sometime and finish some of the important tasks of my projects.

Happier workforce: I am not saying that fresh graduates are always happier at work. I am saying that……….. Since they don’t have any past experience to compare their existing job with, they wouldn’t complain as much as few experienced professionals would, who might have worked in different companies and have seen different company cultures and practices. For a fresh graduate, your culture and practices will become his primary bench mark, since he will grow with your company, and learn all the practices and procedures established by your company. Also, smaller incentives like free bagels, donuts or lunch will go a long way for him as compared to other people, who might have seen different (better) days.

More growth opportunities: Obviously, you can have various growth opportunities for your experienced professionals depending on your company’s policies. But trust me, you will have way more opportunities for your employee’s growth, if you hire a fresh graduate. For example: I work in a Software Industry. In my company, we have various job ranks for our engineers. Ranks go from 1 to 6 depending on their experience and capability. Let’s say, if I hire an experienced professional on “Engineer Level 5”. Unfortunately, after his promotion to the next level, “Engineer Level 6”, I might not have clear defined path for his growth. And that employee will feel stagnant in my company, and might try to leave for another job. Imagine, if I hire an “Engineer Level 1”, a fresh graduate, for the same position . I will have more opportunity to grow him within the company in a given hierarchical structure of the company. Thus, I would recommend you to hire a fresh graduate, if you already have few experienced people in your team to provide a direction.

I hope these tips will help understand the importance of hiring a fresh graduate in comparison of an experienced professional. Let me know, if you have any other reasons why you would prefer hiring a fresh graduate instead of an experienced professional. Please feel free to share your opinion here. Thanks. – Bhavin Gandhi

 

How to fire someone without getting sued?

Have you ever fired someone? Were you ever in the situation where your employee’s growth was stagnant, and there were no other options other than firing that employee? Well……trust me, this situation arises more often than you would think. So, what would you do in this situation? Let’s say, you went ahead and got rid of the poor performing employee without any prep work. In that case, you might end up like my friend Naveen (changing the name for protecting privacy). Naveen fired his poor performer few months back, and now he is getting sued for ‘retaliation’. Obviously, this kind of examples should not become a roadblock in your job while performing your duties. Thus, I am providing you few tips through which you can fire someone without having the major risk of getting sued.

Give one more chance: Imagine….if you were the employee, who is on the line and about to get fired. Obviously, you don’t want to be in the situation where you think that you are a peek performer and your manager hands you a memo saying… “You are fired”. Thus, I always recommend managers to treat their employees as they would like to be treated. Hence, make sure to give your employee the last fair chance to improve his performance. Don’t just have verbal talks with him, make sure to document this and forward it to HR to put on his file. This will provide your employees with one last chance of improving their performance, while it will provide you with a supporting document, if you ever get prosecuted.

Work by the book: Before you take any drastic steps like this, make sure to read all the HR specific and company specific guidelines. If I were you, I would talk to my HR business partner or company’s attorney before even thinking about this. And before even talking to your HR personnel, I would recommend you to prepare a file which should contain all the documentations showing that you have had communications with your employees regarding this problem (i.e. e-mails, memo, etc.). When you have this discussion with your HR personnel, don’t forget to talk about all the minute details of your employees like his race, gender, recent leaves, etc. I have seen various situations, where employees have sued their employer for firing decision on the basis of their race or gender, and the firing decision didn’t have anything to do with that. Thus, it is better to disclose all the facts with your company’s attorney beforehand.

Have a crime buddy: By ‘crime buddy’ I meant to say, someone who knows the same information as you. In most of the situations, I would recommend you to include your immediate manager or the HR business partner. This practice will make sure that someone will back you up, if there are any legal proceedings in the future. Most of the managers know this fact, but don’t know how to implement this. Here is one tip….have a lunch with your immediate manager, discuss about this issue during the lunch, and then forward all the current documentation to him/her. This will ensure that you are not the only person accountable for this decision.

I hope these tips will help you in the unfortunate situation of firing someone. Let me know, if you have any other ideas through which you can save yourself after firing someone for their poor performance. Thanks. – Bhavin Gandhi

 

How to catch fake resume/profile during your hiring process?

Recently, I am in the process of hiring someone in my team. As I move along with that process, I keep on encountering various fake resume. Times are tough, maybe that’s why genuine people are becoming desperate to compete with these fake profiles, and they are also including false information on their resume. While I might not have a complete solution to avoid these fake people, I have few tips through which you can prescreen these candidates before taking their interview, and save your precious time.

Avoid the perfect match: Have you ever seen a resume which exactly replicates  your job requirements as it is posted on the job portal? I have seen many resumes, which contains exactly same wordings as  they appear in the job requirements, and that too in the same order. This should give you a strong signal that this person has directly copy pasted the job description in his job profile. So, don’t even bother interviewing these kind of people.

Avoid out of context keywords: If you get a resume that has all the keywords that you are looking for, but if they are out of context, then chances are….. it has some falsified information. For example: Java, C#, Windows 7, Linux, etc. Someone who has the knowledge of these keywords would easily classify these keywords properly, and they won’t seem out of context. In our example, they would say…… they know programming languages like Java and C#, while they have administrative knowledge of OS like Linux and Windows 7.

Avoid resume without contact information: If you received a good resume which doesn’t have any other contact information other than just an e-mail ID, chances are….this might be a resume of a fake person or a person with fake information. I would not even consider a resume that doesn’t have a contact phone number and a proper residential information.

Google their names: This practice has helped me a lot. Before I decide to give a call to someone, I always go online and Google their name. In today’s day and age, you can find out lot of information about your job applicant by just googling their name. One time, I was going to call someone for an in-person interview and I happened to google his name, and I found out that he was convicted for two different theft charges from his past two jobs. Thus, I highly recommend you to check their online footprints before you call them for an interview.

Call them before an official interview: Technology has made everything possible in past few years. If you work for a company, which has their own video conferencing tools then please make use of those tools before you invite someone for an in-person interview. If you are working on a budget, then use free conferencing tools like Skype or Meebo for a prescreening interview. You should always prescreen out-of-town people using these tools, so that you can save some valuable hiring money, which you might otherwise spend on scheduling their travel arrangements.

I hope these tips will help you to catch any fake resume during your hiring process, and hence avoiding any hiring mistakes. If you have any other ideas through which you can improve your hiring process then please feel free to share it with me through your comments. Thanks. – Bhavin Gandhi

 

How can you deal with your micromanaging boss without quitting your job?

Don’t get me wrong. Micromanagement is also a style of management, and sometimes it is needed to manage some employees, but it doesn’t work in 80% of the professional environment these days. What will you do, if your Manager is a Micro-manager? How will you handle that situation?

I got the idea of writing this blog from a conversation that I overheard in the café. The conversation goes something like this…………..

• Mr. X: What happened to you? You don’t look so good.
• Mr. Y: Don’t ask? Tough times at work.
• Mr. X: Tough times? I heard you even got promoted few months back. What happened all of a sudden?
• Mr. Y: That’s the problem. My new manager is a Micromanager. He keeps tabs on me. I can’t even go to the men’s room without informing him. I feel I am in some kind of a prison. Do you know any other jobs that I can apply for?
• Mr. X: I am sorry to hear about your situation. You know what? There is this Project Manager Job that recently opened up in my firm, and I think you would be a better fit for it. Let me pull some strings and I will get back to you.

Let’s assume that Mr. Y was right, and his manager was at fault here. What would have he done? In this blog, I will provide few pointers to effectively deal with your Micromanager.

Talk to him about it: I am a huge believer of second chances. And that is the reason why, I would recommend you to directly talk with your manager about this (preferably in your one-on-one session). Some managers are micro-managers by nature, and if you don’t point out that this style of management annoys you, then he will never know about it, and might not change his style of management. At least by having this conversation, you are giving him a chance to change.

Decide a fixed time for rounds: Most of the micromanagers like to make 5-6 rounds a day to check up on their employees. Obviously, you might not be able to change their behavior overnight, but you can definitely work with them to agree upon some fixed timings for their rounds. In this way, they don’t feel like they are losing their control over you, and at the same time you get some fixed time of their visits, so that you can prepare yourselves.

Establish your SMART goals: There are very few managers, who are micromanagers by nature. Most of the other managers use the micro-managing approach because they want to continuously monitor your performance. What if…… you take a proactive action about it, and work with your manager to establish your SMART goals? In this way, your manager will have an established method through which he can measure your performance. Thus, he won’t need to visit your cubical 24×7.

I hope these tips will help you to better manage your micro-managing Boss. Feel free to comment on my blog, if you have any other ideas to deal with your micro-managing Boss. Thanks. – Bhavin Gandhi

 

Manager’s Guide: How can I make it easier for a new hire to transition in my group? (Part 2)

In my last blog post, I have discussed few ways through which you can make your new hire understand your company’s goals and objectives. In this blog, I will provide you some tips on how you can make your new hire acquainted to your team culture and communication channels.

Talk about the rules: After you have explained your strategic objectives and work culture, now it’s time for you to explain her about your expectations. Some of the managers leave it unsaid. But I prefer to talk to all of my employees about the performance expectations. In this way, they can specifically know what they have signed up for, and you can avoid having performance improvement talks later. You can start this conversation by establishing clear goals and priorities for her; and then you can progress towards expected employee’s behavior, your feedback process, and how her work will be evaluated. Don’t forget to outline the path through which you will help her to be successful.

The Team: Providing an understanding of the team’s roles and responsibilities is very key to the new hire’s success. This will make sure that she doesn’t step on someone’s foot, and she can know who is ultimately responsible and who has the decision making authority. During this discussion, you should explain her how your team supports company’s goals and objectives. This will give her the overall picture of your team, and where it fits in to the organization. And yeah! Don’t forget to discuss the procedures & norms under which your team operates. For example: Our team follows an agile development process, where each engineer is paired with one another team member for the development of a particular feature. Last but not the least, identify the people who can help her during her first few months in the company, and how they prefer to communicate.

Communication: Being a software development manager for years, I have seen various managers failed to provide this information to their employees. As a result, you have a new geeky employee who got herself acquainted to only e-mails, and you have to wait for her e-mail response for feedback. Thus, I would advise you to have these conversations beforehand. Convey to your new employee how you would prefer to be communicated, and what should be the frequency of those communications. For example: I expect an e-mail response within 1-2 hours. In case of a blocking issue, I want you to call me up instead of waiting for me to reply to your e-mail. And yeah! Explain how your employees prefer to communicate with themselves.

I hope these tips will help you to become a better manager by providing a clear direction for your newly hired employee. In the next blog post, I will be discussing about how to familiarize your new hire with the growth opportunities within your organization.

Let me know, if you have any other ideas through which you can help your employees to easily transition to your company. Thanks. – Bhavin Gandhi