Over time, businesses have evolved owing to newer developments across a wide spectrum of domains. Starting a business today accompanies many challenges as the competition is fierce and the decisions that keep the company afloat are often tough.
However, despite the hurdles on the journey to entrepreneurial success, 84% of business owners state that they would do it again.
The technological revolution has changed the way in which businesses run and achieve success. However, the bottom line remains the same: revenue generation. A failure to generate a steady, profitable income is the reason why 96% of businesses fail within ten years. To ensure business success in the current tech-driven age requires flexibility and exceptional planning.
Mantras to follow for business success:
- The real king: Networking: Networking with individuals and other business owners has undeniable benefits. Technology has birthed professional networking platforms like LinkedIn and BumbleBiz that allow people to connect online and collectively discuss their business objectives. By joining a variety of business groups and participating in networking activities, multiple doors open with new opportunities. There is no king in business without networking.
- Digital savvy: In an era where technology reigns true, it is imperative to stay up-to-date with the latest developments in tools or software that can drive profits. These tools have the power to simplify processes, save time, and reduce the volume of manpower, generating leeway for cashflow. Additionally, it improves customer satisfaction, loyalty, and retention that are at the core of business survival and growth.
- Leveraging social media: Marketing trends like conversational marketing and social selling have trumped the traditional word-of-mouth marketing route to a successful business. Leveraging social media like Facebook, Twitter, and Instagram has allowed multiple brands to reach out to their target audience, generate brand awareness, and build communities. Furthermore, according to a report by Sprout Social, 21% of consumers are more likely to buy from brands that they can reach on social media.
- International current affairs: To stay ahead in the industry, it is important to keep track of the developing trends in the industry and your prospective competitors. Furthermore, if a company seeks global expansion, it requires a great deal of analytical and strategic planning, which includes tuning in to the latest international current affairs of the industry and the country. This knowledge could also help in developing strategic partnerships and establishing a strong base, globally.
- Sociable and outgoing: Developing connections on a business and personal level can go a long way towards propelling business success. The best way to develop valuable connections is through connecting with and getting to know them personally. Such a bond would go well into building strong relationships for your life, ideas, and even business. Some of the strongest partnerships started with networking in the business world.
- The future of business: The sole component that remains constant in business is ‘change.’ New hardware, software, services, and other technologies are coming at a breakneck pace and which will significantly impact the global economy and individual businesses within the next few years. However, the latest success mantras and, above all, consistency, is key in driving business revenue and success in the new age.
About author: Mr. Agnelorajesh Athaide, Chairman, St. Angelo’s VNCT Ventures:-
Mr. Agnelorajesh Athaide is a First Generation Serial and Social Entrepreneur and also the founder & Chairman of St. Angelo’s VNCT Ventures, which is set to bring a change in the real estate business.
As a first generation serial and social entrepreneur, he ventured into the world of business with data processing while pursuing his graduation. Starting with a single computer, it grew to become St. Angelo’s Professional Education – the first computer education hub in India, with its centres spread across Maharashtra. Agnelorajesh has successfully educated more than 3 lakh students in his centres till date. His students are settled and are working globally today.
His passion for sports has led him to own ST. Angelo’s VNCT Chennai Singhams futsal team. He also actively promotes the Women’s Throwball Premier League.
Agnelorajesh has always been a trend setter. He believes if you wish to be at the top you have to do things differently. As such, for the first time he initiated after sales service in computer education in India. He allowed his students to repeat their courses for free whenever they required.
It was his initiative that led to the sanction of loans for private education .i.e computer education, for the first time in India. With the help of the best brains of the industry, he has now introduced the concept of affordable luxury with quality.
Agnelorajesh believes in the words earn, learn and return. As such he takes the onus of sharing his vast knowledge and experience with everyone. As a motivational speaker, he tries to help you tap your potential and be a game changer.
He shares his knowledge through various platforms live seminars, his YouTube page – Inspiring Business Fundas, his mobile app – Inspiring Conversations and through keynotes.
He has also penned down his experiences and highlighted the journey of his life in his upcoming book. It sure will be an inspiration to budding entrepreneurs.
He co-established Business Opportunities Club (BOC) and inspiringconversations.in – two platforms for entrepreneurs to learn and grow.
He co-launched the Global Indian Reality Summit with News18.com. It is meant to educate investors about the changing dynamics of the Indian real estate business.
He is a trustee of the International Development and Welfare Foundation, an NGO established in 2003. Run solely on the contributions made by its members, it provides free educational and medical aids to the economically challenged people of the society.
He also actively supports the platform missingpeopleinfo.com meant to find individuals who have gone missing from their families.