why Startup fails

Top 9 Reasons Why Startup Fails and How to Avoid Failure?

Building a Startup is not as easy as it looks. Even though having a good business idea and good products, many startups get failed.

Let’s talk about why Startup fails so that you can avoid failure. It is essential to know the reasons why 90% of startups get failed in their first five years.

Here are the Top 9 Reasons Why a Startup Fails-

1. Running Out of Cash

It is the first biggest top reason for Startup failure. Most startups could not survive because there is no money left to move further.

As an entrepreneur, you should know how much cash is required to run a startup smoothly and carry the Startup to a milestone where you are making a sustainable income or can raise the funding from investors.

As a CEO of the Startup, this is your job to conserve cash. Therefore, you must know when and where to spend and when not.  For example- In the early stage of the Startup, while the core product is being developed, there is no point in spending money on hiring sales and Marketing people. Instead, you need to first finish the product to the level where it really meets the market need.

So, make a solid budget plan to avoid this. Try to acquire a few regular customers who are ready to pay you and focus on raising the funding at the earliest possible to give sustainable growth to the Startup. Your focus should be on acquiring more customers and retaining them.

Hundreds of Startups failed due to lack of cash and inability to raise the Follow-on funding round.

2. No Market Demand for Your Product

It is the second biggest reason for a startup to fail. Cardback, a Delhi-based Startup, was a payment recommendation platform that helps credit, debit, prepaid cardholders save decent bucks every time they pay.

It was a great startup with a great idea. But despite raising $170K funding, the Startup shut down in April 2017 due to the lack of demand in the market.

So, you should perform market research well and try your MVP before launching your full & final product in the market.

3. No Idea Validation-

Most entrepreneurs just start the startup without even validating their startup idea. It is the biggest mistake they make, and it becomes the reason for their startup failure. You should always validate your business idea.

4. Excessive Cash Burning-

Finomena, a Bengaluru-based Fintech Startup, failed and shut down its operations in Aug 2017 due to a high cash burn rate and lack of funding.

High cash burn is another biggest reason for Startup failure. Some startups burn the cash by providing excessive discounts to customers, some spend money on unnecessary marketing, and some spend on luxuries.

As an entrepreneur, you should be very careful while spending money on your startup.

5. Weak Team & Poor Leadership

It is another reason that causes Startups to fail. If a Startup has a weak Management team, then Startup tends to be shut down.

Management Team is the pillar of any startup, and only a strong team can lead a startup to success.

When the management team is not capable enough and there are incompetent people in your team, you will fail.

It’s utmost necessary that you have the people who have the skills and attitude required to build your products & services successfully.

You need a core team that shares your vision and has the skills to succeed.

6. Got Outcompeted- Intense Competition

It is very much possible that you get hit by the big players in your field who have massive funding to destroy the competitors. So despite having good products/services and business models, most of the startups are buried by the competitors.

To avoid this, you need to focus on creating your own market positioning with your USP.

7. Lack of Innovation

Many of the Founders try to copy successful Startups and companies. They think if they are successful, then they can also do this. Unfortunately, most Indian entrepreneurs are playing this copycat game.

However, there is nothing wrong with this approach because It’s not necessary that you start with a unique idea only. But the point is that you should constantly evolve your product or services.

You should create your USP and give your customers enough reason why they should buy from you rather than your competitors. Focus on innovation builds your R&D team,  rather than just copying the things that your competitors or other startups are doing.

8. Not Enough Marketing-

Most new entrepreneurs think that their products or services are just fantastic and very affordable, so people will come and buy them. They think that people will recommend them, and they will get a customer with word-of-mouth publicity.

Therefore, they ignore the marketing part. Either they do not invest any money in marketing, or if they do, that is not enough to reach out to the right people.

Please understand this and keep this always in mind, no matter how good your product or services are; you need marketing to reach out to the people. Your investment in marketing is directly proportionate to the revenue you will generate. Don’t ever rely on word-of-mouth publicity.

Therefore, no marketing means no revenue. That’s it.

I am not saying that you should start burning huge amounts of money on Paid Ads. You can start with little money, and you can do this with some organic methods as well. But the point is that you have to focus on marketing.

9. No Reinvestment into the Startup-

It was one of the biggest reasons for the failure of my initial startups. I was in massive debt and had almost no money to run the family, so whatever I was making in my startups, I was not investing back in them. And that’s why there was no growth in the business.

Most entrepreneurs make this mistake; when they start making money rather than investing back in their business, they use the huge part of the revenue or profit for their personal use, they start spending and buying luxury things. They start buying stuff like expensive phones, watches, MAC Book, Cars; they start throwing destination parties to their teammates, going on luxury vacations, etc.

Please don’t make this mistake. Please understand that you need cash to grow your business at the beginning of your startup. Therefore, you need to conserve some money and should at least reinvest 60-70% of the money back into your business growth in your initial years. This percentage can be decided based on various factors, but you should reinvest back into your business to provide sustainable growth to your startup.

Above are a few of the reasons for startup failure. I have included this part just to let you know the significant reasons why a Startup failed so that you can avoid them.

Stages of a Startup

Different Stages of a Startup

As an entrepreneur, you must know the different stages of a startup. Once you know the stages, you can plan everything better about your Startup for the future.

Following are the Stages of a Startup-

Stage 1- Pre-Startup Phase or Pre-Seed Stage – (Ideation, Idea validation and Business Formation)

It is the first stage of the Startup. It is the ideation stage. In this stage, you find out a problem you want to solve.

You validate your Startup idea. You form the company legally and acquire the necessary licenses. You also build a core team and are ready to work.

In this stage, you have an unclear business model and make a constant investment in your startup.

Stage 2- Early Stage-

You convert your idea into a Minimum Viable Product or MVP in this stage. You sell your MVP and improve that constantly as per the early customers’ feedback. And based on the feedback and market requirements, you come up with a full feature product and launch it into the market.

I call this the struggle stage also. Unfortunately, most of the startups end up in this stage only. They never reach the next stage. To avoid this, you should focus on creating a workable business model, and your focus should be on building the right product for the right people.

Stage 3- Growth Stage

In this stage, your Startup is already built and stable. You have a workable business model and generate considerable revenue to grow the Startup. Your focus is on its growth. You do all necessary activities to increase the number of customers to make more revenue & profits.

Most startups remain stuck in this stage and struggle to move further.

It is when the Startup must concentrate on expanding its business and increasing profitability and the number of clients. It would be best to focus on sales & marketing; however, don’t overlook the importance of consistently developing the product to adapt to the Startup’s growth. You should start building a team to support you in growth. You must hire more people and build the departments as your Startup grows.

Stage 4- Expansion Stage

It is the stage where your Startup is well established, generating enough revenue and making some profit.

It is when you can plan to expand the business into new markets and segments.

This phase requires more financial support. If not done so far, it is time to approach the investors to raise funds. You may also use your own funds if available.

In this stage, you should bring professional managers and leaders to your team to reduce your involvement in the business. Never try to expand your business if you are not ready enough. In one of the last chapters of this book, I have explained how to scale a business properly.

Stage 5- IPO or Exit Stage-

After a startup’s long and arduous path, the approach (or not) of the sale (exit) may come. Either you may sell the startup or can scale it to such a level where you can list it for IPO.

My Advice- Here, I would highly recommend that as an entrepreneur, you should never build a business with an intention to sell or to be acquired by someone. Selling or acquisition will happen if everything goes right and it’s a by-product. So I would ask you to focus on the growth and scalability of the startup and take it to the IPO.

So, these are the typical stages of a startup, and it is of utmost necessity that you should be aware of these stages to plan better for your startup future

What is Startup

What is Startup and Characteristics of a Startup?

A startup is a fascinating word, and today, everybody seems to be talking about this. But, what is a Startup?

As per Wikipedia, A startup or startup is a company or project undertaken by an entrepreneur to seek, develop, and validate a scalable business model. Startups typically begin with a founder (solo-founder) or co-founders who have a way to solve a problem.

Basically, Startup is a young company (generally less than five years) that is started by a solo-founder or co-founders who want to develop a product or service to solve a problem that exists in the market.

In the words of Neil Blumenthal, the co-founder of “Warby Parker”- “A startup is a company working to solve a problem where the solution is not obvious, and success is not guaranteed.”

Features/Characteristics Of A Startup

Before you start a startup, it’s important to understand the features of a startup.

Following are the features of a Startup-

  1. Age- A startup is a new company in its early stage. It is a company that is generally less than five years old.
  2. Solving a Problem- A Startup identifies a problem that a lot of people are facing. In fact, all successful startups have identified a problem and solved it with their excellent services or products.

As per Paul Graham “The way to get startup ideas is not to try to think of startup ideas. It’s to look for problems, preferably problems you have yourself.”

It’s also not necessarily that a startup only works on a unique idea. For example, it can solve a problem that some competitors are already solving, but you solve it better.

There are thousands of problems around us; we need to identify them and find out their viability.

In the forthcoming chapters, we will learn a systematic approach to identifying a business idea and how to validate it properly before building the startup.

  • Business Model- A startup does not have a fixed business model initially as it explores the possibilities to achieve a scalable and repeatable business model. However, it is true that a Startup can not become a unicorn if it does not have a scalable business model. So as a founder, you need to identify the scalable business model for your startup as fast as possible. Investors also like to invest in a startup that has a scalable business model.
  • Growth– A Startup goal is to grow fast and be designed for the same. It is one of the points that distinguished startup a small business.

Startups are businesses that are intended to grow and scale fast, and this focus on growth and rapid scaling sets them apart from small enterprises. As a result, startups often have huge burn rates.

As per Paul Graham- A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, take venture funding, or have some sort of “exit.” The only essential thing is growth. Everything else we associate with startups follows from growth.

  • Structure– Most of the Startups are unstructured in the beginning. They may not have a defined hierarchy of employees and managers and their roles. But as the business grows, it is of utmost need to have a clear structure and defined roles in the startup.
  • Limited Resources– Startups generally function with limited resources. In the beginning, the startup should manage with minimum resources and focus on increasing the traction.

Most of the successful startups started with minimum resources and managed to scale with limited resources.

  • High Risk- Due to an unstable Business model, limited resources, lack of experience, there is a high risk of failure. Most startups are at high risk in the beginning until they find a stable business model, focusing on building & marketing the right product for the right people.

So these are the common elements of a startup you should be aware of.

5 Biggest Reasons Why a Person Doesn't Think of Starting a Startup

5 Biggest Reasons Why a Person Doesn’t Think of Starting a Startup

A startup is a risky affair, but it’s still worth doing. The startup journey is tuff, but the reward is also amazing.

I firmly believe that Entrepreneurs are the people who work toward making this world a better place to live.

But many people give up on their dreams and never take steps to start a startup. They keep on living a mediocre life. Sometimes, they blame their parents, their family, lack of money, their situation, or make some lame excuses to justify their reasons why they could not start the startup. They treat themselves as a victim of the circumstances.

So, let’s understand some of the common reasons (or you may call them excuses) why people don’t think starting the Startup

  1. There is a Big Risk
  2. We should have a huge Money to Start
  3. I have no idea where to start from
  4. I am too Young or Old
  5. I have no Business Idea
  6. I started a Startup but failed
  7. I am not educated enough
  8. My family doesn’t allow me to start
  9. I am a girl or lady

There is a Big Risk-

It is the biggest reason why we never thought of starting a startup.

Due to our upbringing in a society where starting a business is always considered risky, most of us never try a business. We are never taught to take the risk. Moreover, we want to lead a safe & secure life.

Nobody encourages us and says that you should start a startup.

Look, the risk is everywhere in life, and just because a startup has the risk, it is not a good idea to give up on your dreams. Do you think there is no risk in the job? I believe this pandemic has opened up your eyes. You must have learned that there is no security in the job either. There was no security in the job before, not now, and will not be even in the future.

If you believe in yourself and desire to fulfill all your dreams, then it’s worth taking a chance.

We should have a huge amount of Money to Start-

It is another big reason most of us do not start a startup. We always think that it requires huge amounts of money to start a successful startup.

You indeed need money to start; there is no free lunch anywhere.

But let me tell you that you need skills to start a startup; if you have the skills and are passionate enough, you will manage the finances. Money is never a bar in starting up a startup.

If you don’t have money to start then, learn a skill, monetize it and start your dream startup. You will find a way If you are passionate about your dream.

So don’t make money as an excuse for not starting up.

I have no idea where to start from

Many people want to start a startup, but they don’t know where to start. They don’t have a clear picture in their mind.

It is because of a lack of proper guidance. Entrepreneurship is not taught in schools or colleges; there is nobody out either who can guide us properly.

We are ready to spend lakhs of rupees on our formal education, which hardly makes us a living, but we hardly want to spend a few thousand bucks on a startup course that can make us a fortune.

It is a very sad but a fact. However, if you are ready to invest in your personal growth and learn, it’s not tuff to start a startup.

I am too Young or Old

It is another big reason for not starting up.

Ritesh Agrawal was just 21 years old when he founded Oyo. Tilak Mehta was just 12 years old when he founded “Paper and Parcels,” a startup that is making revenue in crores. Aadithyan Rajesh was just 13 years old when he built “Trinet Solutions” which provides Web Design and Software Development services. Falguni Nayar founded Nykaa at the age of 50. The list is endless.

So please do not make yourself a fool by making this excuse saying I am too young or old. Age is just a number; if you have a keen desire and passion, you can start a startup at any age. So there is no age to pursue your dreams. Start Today, Start Now!

I have no Business Idea

It is one of the biggest reasons for not starting up. Most aspiring entrepreneurs want to start a startup, but they don’t have a Startup Idea.

It is a very common scenario with a lot of young entrepreneurs. And, sometimes a wantrepreneur has more than one idea and cannot decide which one is the best to start a startup.

But there is a process of validating your business idea, and if you follow that, you can easily find out and decide the idea to work upon. I have explained this in detail in this book.

I started a Startup but failed

I started the Startup but failed miserably, and now I can not start again.

Most entrepreneurs are not successful at their first attempt, but it doesn’t mean that you have lost the battle.

Mr. N.R. Narayana Murthy started his journey from IIMA and built a small startup called Softronics. But the Startup failed miserably, and he joined Patni Computer Systems. But Mr. Murthy was a big dreamer and a real warrior. So he established another company with his six other partners. Today, Infosys Technologies is known as one of the most highly successful IT firms globally.

After failing, it takes immense hard work, dedication, and perseverance to succeed, and that’s the most significant quality of an entrepreneur.

I don’t have a formal degree-

It’s a big myth that you have to be highly educated to succeed in the startup world. This perception is made because we see a lot of IITans and IIMs alumni raising massive funding and building startups these days. But this is a complete myth.

There are many examples of college or even school dropouts who are building a multi-million dollar company. So formal education has nothing to do with your Startup. It is never a bar in your success.

My family doesn’t allow me to start

I understand this very well as I have faced this personally. Unfortunately, no one from my family was in favour that I should start a startup.

And when I failed in my initial startups and got into huge debt, they used to say- “We knew that you would never succeed.”

But if your dream is big enough, these facts don’t count.

Please don’t take your family wrong because they think they are helping you from a big risk by stopping you from startup. It happens because of our conservative thinking. They believe a startup is a risky thing, and you may waste your career, time, and money by starting up. We have discussed this at the beginning of this book.

But, this is you who need to take action to fulfill your dream of becoming an entrepreneur. Sometimes, you need to go against the circumstances to do something bigger. If you have a big vision and really desire to fulfill that then nobody can stop you, not even your family.

I am a Girl/Woman-

Society believes that a man can only run a startup successfully, and business is meant for men only.

But this is not true; there are a lot of female entrepreneurs who have built huge businesses.

Nykaa’s Falguni Nayar, PepsiCo’s Indra Nooyi, Biocon’s Kiran Mazumdar Shaw, VLCC’s Vandana Luthra, Zivame’s Richa Kar, Yourstory’s Shradha Sharma, BeautyGlad’s Kalpana Sharma….the list of successful women is endless.

So, please don’t hold yourself back just because you are a young girl or a woman.

It is true that our startup ecosystem is still not favourable for women in India, and there are many factors that discourage a woman from starting a startup. There are a lot of additional challenges a woman has to face in the startup world. But, the situation is changing very fast. You can still build a successful startup even in these odd situations. I know you are strong enough to overcome the challenges.

So these were some of the reasons or you may call excuses for not starting a startup. Apart from these, there are many other reasons why we don’t think starting up. This book breaks all these myths and excuses for not starting a startup.

Why SHould You Start a Startup and become an entrepreneur

Why Should You Start A Startup And Become An Entrepreneur

Deciding to start your own Startup is a very critical decision. Well, there are no right and wrong reasons for starting a startup. Whether you want to fire your boss, make money, or help people,  every reason is valid.

But here, I would like to explain why you should start a startup and become an entrepreneur.

Some people may disagree with this, But I truly believe that entrepreneurs are the people who run the society; they are the people who take risks and make this world a better place to live. They provide jobs to people, pay taxes, and make the products or services that help people solve their problems.

I highly encourage people to start a startup and become an entrepreneur.

So here are some reasons you should start a startup –

Solve a Problem- You have identified a problem that is big enough, and you seriously want to solve that problem. If that’s the case, then you should start a startup. Every successful Startup is solving one problem or the other.

Create Jobs- When you start a startup, you need a team; you need people, and for this, you hire people for your Startup. So by starting a startup, you provide jobs to people and help them living.

Today, Startups and MSMEs provide more than 110 million employment making it the largest source of employment after the agriculture sector in India only (Source- Statista & investindia.gov.in).

Thus, with your Startup, you help people run their families and improve the country’s economy.

Give back to the community- I have seen many entrepreneurs donating to charity and good causes, helping poor children get a good education, and helping people build skills. In a job, a person can hardly think about doing this.

You can help People- A startup is a great way to help people. Many social entrepreneurs are working towards this. They are helping people in various ways. If I name a few of them then, Urvashi Sahni is the founder and CEO of SHEF (Study Hall Education Foundation), a non-profit dedicated to providing education to India’s most underprivileged girls. Urvashi Sahni’s initiative has impacted the lives of 150,000 girls (directly) and 270,000 girls (indirectly) through her work with over 900 schools.

Another great example is Mr. Anshu Gupta, who founded Goonj, a social organization that collects used clothing from the urban crowd, sorts them, fix and later distributes them among the poor and needy.

There is an endless list of such social entrepreneurs who are working towards the well-being of society.

Give you Freedom– Unlike a job, you have control over your schedule and can work from anywhere in a startup. Therefore, it gives you more freedom- Freedom to spend more time with your dear ones, freedom to do the work of your choice, Freedom to travel the world, freedom to work for your own hours, etc. and this is a great feeling. In a job, you hardly or never get this freedom.

However, you will be busy at the beginning of your Startup, but as it grows and you learn to delegate, you’ll have more free time.

Give You purpose in Life- Nothing is more satisfying when you start a startup and help people solve their problems with your services and products. It’s a great feeling, and a Startup becomes the purpose of your life.

Today, our life has become so easy and comfortable because of such startups.

Escape the Rat Race– If you are tired of working for others in nine to five jobs, you should start a startup. I have been in this rat race for many years until I find the real purpose of my life. I was in this rat race because I did not want to take the risk. I wanted to live a risk-free life and I thought a job is the best way. Most of us never think about starting a business and becoming our own boss because we think what would happen if our business gets failed? How we would run our family, pay our rent, EMIs, kid’s school fees, etc.? thus we get trapped in this trap.

I am not saying that doing a job is a bad thing, I have been there for a long and because of the job I could feed my family but there is no freedom in job.

I know there is a risk in startup but, just like, if you drive a car without learning how to drive, there is a great possibility that you would meet with an accident, similarly, if you don’t learn how to do a business right, chances are that you would fail.

But if you really want to escape from this rat race then Starting your own startup is the best way.

Pursue a Passion– If you want to pursue your passion and build a business around it, you should start a startup. There are hundreds of entrepreneurs who successfully converted their passion into a business.

And even if you don’t convert your passion into a business, still you can pursue your passion. When you have a business that is running without you then you have more freedom in terms of money and time. You can do what you like. You can live a life you always wanted to.

Make More Money- of course, you can make more money in s startup than a job. Unlike a job where an increment in pay scale is not in your hand, you can increase your income anytime in a startup.

These are a few solid reasons you should start a startup, but you can find your own “Why” and start a startup.

I know even if you find these reasons valid, somehow you might not be fully convinced if the startup is your cup of tea. It’s ok to have this feeling because I understand that it takes guts to become an entrepreneur. And, we will talk about this in the next chapter.

Tools you Should Use for Lead Generation

6 Tools you Should Use for Lead Generation

Leads are the fuel to your business. Without Leads, it’s almost impossible to survive in the business.

According to the Report, 65% of businesses admit that generating leads is their top marketing challenge.

What is a Lead?

In business, we have heard about this a lot in our daily life. Right? So what is a Lead?

If I talk about in business terms then “A lead is a connecting link between you (your business) and your prospect who is out there in the real world”

But in Simple Words- “Any person who shows a specific interest in your business, Brand, Products or Services can be considered as a Lead”

A lead basically contains a Name, Email id, and/or Phone.

What is Lead Generation?

Lead Generation is the process of attracting and converting Strangers & Prospects who showed or might show interest in your product and services into your paying customers.

Why do We Need Leads for our Business?

We need lead generation because Leads are the lifeline of a business. Lead is the fuel to your business. Did you know – one of the biggest reasons for a Business shutdown is not to have enough Leads for your business.  Leads when convert into paying customers to increase your revenue and business growth.

Lead generation allows you to target your potential customers and collect valuable information about them like their needs, their preferences, and their desires

When you have all this basic information about your prospects then you can reach out to them with the exact solution to their problem.

But remember- It’s not about the number of leads but the quality of the leads. There is no use of generating such leads who are not interested in the need of your products and services. So always target the right audience after researching your potential customer’s persona.

Tools to Generate Unlimited Leads

Tools are the real weapon in generating Leads. They make your work easy; they can do wonders.

However, I have told you various methods of Lead generation but this is one of my favorite methods. I widely use these tools to generate leads for my business.

You can only feel and see the magic of these tools once you start using them for your business.

In my initial business days, the biggest mistake I did, was not using the tools for my business. I used to think that when we have a lot of other free ways why spend money on the tools.

But, can you imagine banging the nail in the wall without a hammer or a doctor operating a surgery without tools? Absolutely Not! Tools make your life easy and they work like a lifesaver in your business.

So, I realized my mistake after a lot of frustrations and tried lots of methods. I got to know why I am not getting the desired results.

So, I started using the tools and I felt the magic happening. So, I would highly recommend that you should use these tools. You can try their trial version or Trial period without purchasing them.

Once you find the right tool and some positive results, you can go for the Paid version or subscription.

Here I will talk about some powerful, easy to use and affordable Lead Generation Tools. I would strongly recommend trying all the tools and sticking to the ones generating the highest quality leads for you.

I personally have used these tools for my business and they have done wonders for me. So, these tools are practically tried and tested by me. If you want to learn practically how these tools work, you may like to join our Lead Generation Mastery Course where we teach you how to use these tools in detail by showing you practically.

Here is the list of Tools for B2B Lead Generation-

  • Snov.io-

Snov.io is a great tool for generating leads. It is available as a chrome extension. it’s an outreach automation platform that helps in lead generation, email sending, and email tracking.

Basically, it helps us to find the email ids of a company and helps us to send the emails.

As you know, getting the email ids of the decision-makers in a company is very difficult. Most of the companies keep their support emails ids on their website or social media platforms. But you know if you want to sell your services and products then you should contact the right person. You need to contact the decision-maker and in most cases, it is either CEO, COO, CTO, CFO of the company.

Nobody cares when you send your service proposal or send cold emails on company support or contact emails like support@xyz.cominfo@xyz.com or hi@xyz.com.

You need to approach the right person and “findthatlead” helps you in that.

You can schedule an automated email campaign to nurture the Leads.

There are a lot of more features and functionalities snov.io offers like- “Check Website technology”

  • FindThatLead-

FindThatLead is another great Lead Generation Tool. This tool helps you to find out the email ids from a website. It is available as a chrome extension.

Once you have the email id of the right people, you can set up drip campaign

  • Getprospect.io-

Getprospect.io helps you to find out the email id of people from Linkedin. It is available as a chrome extension

You know Linkedin a great platform to find the B2B Leads.

Let’s suppose your offer ERP services to mid-sized and big companies then you should contact the Chief Executive officer, Chief Financial officer or Chief Technology Officers of the companies because they are the real decision-makers.

You can pitch them your services and how your services can help them to achieve their Goal easily.

And, With the help of getprospects.io, you can easily find out these email ids. In the past, I have tried this tool for one of my clients who used to offer ERP Services to companies.

We find out 1000 email ids of CEO and CFOs of the different companies and set up a drip marketing campaign by offering them better solutions and we got 20% conversion from that list which is huge.

The reasons are very simple, First, we were approaching the right people (decision makers), Second we did some good research on their companies and find out the most possible challenges they must be facing which can be solved with a better ERP solution.

We started making the connection with them and started sending few good and useful emails before we pitched our services.

We connected most of them in our Linkedin Network as it makes us easy to reach out to a person when he or she is in our network. As a result, we converted

Note- once you get the email id’s, do not offer your services in first email. There is a process for that. Like ERP services are very costly and have a long commitment with the company so it takes a long thinking process.

You should start making the connection first, Educate your prospects, talk about their challenges, and possible issues they have, Offer them better content. And, I am sure they will reply

  • Lusha-

Lusha (lusha.com) is one of the best tools for B2B Lead generation. It is available as a chrome extension.

Like getprospect.io, it works in Linkedin and finds out the email id and phone number of people.

For example- if you are running a digital marketing agency and works particularly with a particular industry say hospitality or healthcare.

Then with the help of Lusha, you can easily find out the list of the key people’s name, company names, email id, mobile numbers etc. as per your filtration used in Lusha.

  • MailShake-

Mailshake is an email outreach tool, it’s a great email marketing platform. You can easily create a campaign and reach out to your leads easily with this tool.

This tool helps you to send emails to your leads and help you to convert the leads into your customers.

It can integrate with most of the email and CRM tools. Mailshake is a very effective tool for cold emailing. You get great support from Mailshake.

However, I prefer Other email marketing tools like ConvertKit, GetResponse Aweber, etc. over MailShake.

But, it’s a great tool to learn cold email marketing and how to reach your cold prospects.

  • LinkedIn-

LinkedIn is a great tool for generating B2B leads. If you want to generate high-quality leads then LinkedIn is the best source.

Did you know, more than 80% of B2B leads generated from different social media platforms come from LinkedIn?

Image Source- QuickSprout

So how to generate leads on LinkedIn?

Here are a few Tips can follow to generate leads through LinkedIn-

  1. Optimize Your Profile- This is the first step you need to do. Optimize your profile so that it looks professional and attractive.

Use a professional profile image and use a headshot and not your company Logo.

Put a professional description with keywords in your profile along with your current Title. Title may looks like “CEO at BeautyGlad-Home Salon”

  •  Connect with People- Find out the people by their company and Title and start building your network. Engage with other people content and build your network

You can use tools like

  • Post Great Content- Post some relevant but valuable and useful content. While posting use a good Image and insert your website link strategically. Share your knowledge with others.

LinkedIn is not a typical Social media Platform like Facebook or Instagram so make sure you post something which matches the audience. LinkedIn is a professional space and lets it be like that.

People don’t like when they see unprofessional posts or content and it can also harm your reputation and credibility. So keep this thing in mind while sharing anything on LinkedIn.

  • Cold messaging- It’s a good way to generate leads but I believe 80% of the people do it wrong way. You have seen multiple times that as soon as you accept some one request, they send you a standard sales pitch and try to sell you straight away. I have received hundreds of such messages so far which I never bother to reply or sometime even read.

Please understand this thing people have not accepted your connection request that they want to purchase your services/products but they accept to make connection to broaden their network and to maintain a professional relationship where they can be like-minded people.

So what is the right way to cold messaging?

First, create a good relationship with them. Thanks them for accepting your connection request, introduce yourself, let them know what you do and How amazing it is for you to be part of their network (Do not try to sell anything in your first few messages). While you exchange messages, give value to their time.

I hope by end of this guide, you know how to generate leads using these amazing Tools. if you want to add something to this list then you can contact me.

For Your Success,

Vikash Sharma

How to Find Your Micro Niche

How to Find Your Micro Niche

The very First step to start a startup is to find a profitable NICHE.

Most people struggle and are not able to find the Perfect Niche. To find a business idea is the first Basic requirement to start a Startup.

So, what is NICHE?

NICHE=PROBLEM

Understand this, Any Startup that is successful today is solving some problem.

For Example– Finding an On-Demand Taxi was a big issue, So Ola and Uber are solving this problem, Just imagine, you are in a market and you need a taxi for your home, You take out your phone and within 30 seconds, you book the taxi. Within 5-10 mins, a taxi is at your place to pick you.

Take Another Example- you are at your home and want to order food online, finding a good restaurant near you and ordering the food is a big problem. Again, you open Swiggy or Zomato app on your phone and order from your favorite restaurant, and within 45 minutes, you get hot piping Food at your place.

There are a lot of examples like this, but the point is that all the successful full Startups are solving some or other problems of their customers.

See, this doesn’t matter how good your products or services are. Customer does not care about who you are, they just care about themselves.

So, find a Problem that is big enough and build a product around that. Find out the pain points your Potential customer has and solve that with your awesome products and services.

Now the biggest problem is how to find out the NICHE that is profitable. Most aspiring entrepreneurs have more than one Business idea and they are not sure which one they should pick and work upon. And even some of them want to start a Startup but are not able to find any business Idea at all.

For This, there is 4P Validation Formula- Once you find out an idea then validate it for the below criteria and make sure the Niche/idea fulfills all 4Ps.

  1. Passion
  2. Problem
  3. Potential
  4. Payment

#1. Passion

There might be something that you are passionate about. Find out something you are good at, whether it’s Graphic Designing, Dancing, Cooking, or something else. . Just find out your passion and work upon that.

See, You don’t need to be an expert in a field, If you are passionate about something and know how to do that is more than enough.

#2. Problem

As I mentioned earlier, every Startup solves a problem or other. So, Find out the customer problem and the pain points which you can solve with your passion.

#3. Potential

Once you find out a problem then do Market and Customer Research. Make Sure the problem is big enough and has future potential.

#4. Payment

Once, the above 3 Points are validated then the most important thing which you should make sure that the customers are ready to pay you for the problems you are solving.

For Example- Not knowing how to cook, is a big problem, but if you teach them the cooking and your students are not ready to pay for that then it’s not a business, This may be called a hobby.

Until the customer is ready to pay for your products/services, it’s not called a Business.

I believe now you have learned how to find a niche.

Most people ask me – “Tell Me a Business Idea”

See, I can’t tell you this for you. Niche is something you need to find out and validate.

So, Find out a NICHE and Build a Startup.

All The Best…!!!

How to Convert your website into Lead Generation Machine

How to Convert your website into Lead Generation Machine

It is Important to generate Leads for Your Business. Leads are the lifeline in your business. Without Leads, your business will struggle to make sales.

And, a well Optimized Website can generate endless Leads for Your Business. Unfortunately, Most of Entrepreneurs and Businesses ignore this fact and keep on spending money on paid Ads.

But if you could optimize your website well, then You can attract huge traffic on the website and convert them into paying customers.

Here are a Few Points You should focus on to Convert Your Website into a Lead Generation Machine-

If You follow all these Tips here, then your website will become a Lead generation Machine for you which will be generating leads even when you are sleeping-

1. SEO- Search Engine Optimization-

SEO stands for Search Engine Optimization. It’s a process of optimizing your website for Search Engines Like Google, Bing, Yahoo, etc.

It’s a way of optimizing the website so that it starts ranking in Search Engines for different Keywords This must be your first action if you really want to generate Leads through Your website.  So, Optimize Your Website for Search engines.

Here are the ways to Optimize Your Website for Search Engines-

  • URL Structure- URL (Uniform Resource Locator) also called as Web Address is very important factor in SEO. Keep the URL Simple and Easy to Read.  Googlebot look for the readability of the URL.
  • Mobile Responsiveness- Mobile Responsiveness or Mobile Friendly version of your website is One of the most critical factors in website ranking.
  • SSL certificate- Secured Sockets layer- when Installed on a web Server, It activates the padlock and the https protocol which allows secure connections from a webs server to a browser. Google Ranks those website who are secured
  • Website Navigation- Website navigation also called internal link architecture are the links that connect the pages of Your website. The Main Objective of website Navigation is to help Website Visitors easily find content & Stuff on your website.
  • Title Tags/Meta Tags– A title tag is an HTML element that specifies the title of a web page.  It’s simply the headline on the SERP (search engine results page)
  • Meta Description- “The Meta Description is an HTML attribute that provides a brief summary of a web page”
  • Readability- Focus on readability. Create content for your website which is easy to understand.

2. Personalize CTA Button-

Always use Call to action button. Personalized calls-to-action convert 42% more visitors than basic calls-to-action. Call to Action like “Sign-Up”, “Call Back”, “Send a WhatsApp Message”, “Learn More”,

3. Click to Call Number-

60% of smartphone users have contacted a business directly using the search results such as the “click to call” option. (Think with Google, 2019)

So use a clickable call back number where a website using just need to click on the number on the website to make a direct call with you.

4. Contact Form

Use easy Contact Form like “Book a Free Consultation Call” or “Get a Free Quote” “Get a Free Trial” Form

5. Opt-in Form

Add an opt-in form to collect the Name and Email of your website visitor

6. Lead Magnet

Use some lead magnet like Free E-book to download, Free webinar to register so that you can get your website visitor Name and email id

7. Analytics

Use Facebook Pixel Code and Google analytics in your website so that you can retarget your website visitors and know the different states of your website visitor. These analytics tools are must to have on your website to track your website visitors and to know them better.

8. Live Chat

Live chat tool is another great way to capture the leads.

9. Exit-Intent Popup

Use an exit popup offer

10. Blog Posts

B2B companies that blogged 11 or more times a month had three times more traffic than brands that barely blogged. – Hubspot

A blog is a must to have a section on your website. A blog is the most popular method of generating leads. When you have a blog on your website and provide valuable information to your website visitors then they get overwhelmed and make you an expert. And, once you project yourself as an expert through your valuable articles, your visitors trust you and show their interest in your services & products. They get ready to give their personal details to you.

11. Subscribe to Weekly/Monthly Newsletter

However, it’s a very old method and not much popular now but you can

12. Customer Testimonial

Add Customers Testimonial and Photos for better credibility- testimonial is a very powerful marketing tool.

13. Use Explainer Videos

Yes, Video is an awesome way to market your products and services. Video helps in conversion. Get a professional video explaining your products & Services and how your product and services can help your customers. An explainer video educates your website visitor and really helps to boost your conversion number.

Reasons to Have a Professional Looking Website for Your Business

8 Reasons to Have a Professional Looking Website for Your Business

As you know the world is changing so fast, so as the ways of doing business. Now, It is not enough to have just an offline business presence, You have to be there where your customers are. Consumer behavior has changed over time and now everybody is living in a digital world.

Your business online presence can have a great impact on your success and Your Website gives you a strong online presence.

A website plays a great role in the complete ecosystem and your business growth is depend on your online presence. If you are not online, you are nowhere. Better you admit it.

So Here are 8 Reasons Why You Should have a Professional Looking Website for Your Business-

People are Searching For your Online

This is the first and far most imp reason of having a website.

Did you know- 97% of consumers go online to find and research before buying a product or service.

And after the COVID pandemic more than 50% of them buy the product/Services online

Easy to Sell Services and Products Online

The website gives you the opportunity to showcase your Services and products and sell them online. You can easily build an e-commerce store with the help of WordPress and WooCommerce and for this you don’t need any technical or coding Knowledge.

A website increases your Brand Credibility

This is one of the main reasons you should have a website for your business. A website increases your business and organization’s credibility.

Did you Know- 75% of people have judged a company’s credibility based on its Website look and design.

You can easily showcase your Customer reviews and testimonials on your business website. When your website visitors see your real customer reviews, testimonials, and True success stories, it builds trust and provides you better conversion. It establishes your Social proof and makes you apart from your competitors.

Your Website can Generate Unlimited Leads

This is One of the strong reasons you should have a website.

Website is One of the biggest and most important sources of lead generation.

Most Business owners ignore this point and never think that their website can generate endless Leads for them.

There is an unlimited opportunity to generate leads if you have a well-optimized Website.

And to Optimize your website you should focus on some points like-  

Personalized CTA (Call to Action) Button like “Signup for Free”, “Book a Free Consultation”, “Start a Free Trial”, “Call Us now” and “Learn More”

SEO (Search Engine Optimization)- Optimize Your website for Search Engines Like Google, yahoo and Bing can bring more targeted traffic on your website. More traffic means more customers.

So get your website ready for Search Engines. Focus on Website Looks, Navigation, Mobile Responsiveness, Readability, Content, Website Load Speed, Internal & External Links,

Did you know- More than 50% of Website visitors leaves your website because of Poor Navigation and Low Website speed.

So When you plan a website for your business focus on these factors and optimize it for Search engines and as well as for Your consumers.

A website makes your brand more visible

As I said in last point, if you optimize your website well then it attracts targeted traffic and eventually you get more visibility for your business. So Website is a great tool for Brand awareness.

Easy to Re-target Your Potential Customers

So when you have well optimized website, you get more traffic, and it is very easy to convert your website visitors into a paying customer by re-targeting them.

And, you can do so with the help of some free tools like Google analytics and Facebook Pixel. You just need to install them on you website and the magic will start happening. And, It is very easy to install these tools on your website, you don’t need a Website developer to do so.

 Gives You the opportunity to understand Your Customers need better

Google Analytics and Facebook Pixel not only give you the opportunity to retarget your website visitors but also helps to make up understand your potential customers.

They help you to give you clear audience insight. With the help of these tools, you can easily know a lot of things about your potential customers like the demographic information…………………….

With the help of Google Analytics and  Facebook Pixel, You can also track your website performance through some metrics like-

  • The number of people visiting your website regularly.
  • The number of people who visited your website only once
  • You can track the conversion rate.
  • Customer engagement-Which page your website visitors liking most and engaging more with. With the help of this, you can write better content and can improve the existing one.
  • Why visitors are bouncing off your website.
  • How much average time, they are spending on your website?
  • The city, state and country you are getting most traffic from
  • The average age of your website visitors
  • The device (laptop, Desktop or Mobile) they are using
  • The gender ratio (male, female) visiting your website most.

A website is an important part of online marketing

As you know, Digital Marketing provides you with more results, Brand visibility, and growth than traditional Marketing like print ads, Brochures, Flyers, and hoardings, etc.

Now, you must admit that without proper digital marketing, you can not provide a sustainable growth to your business. Your business may die if you do not adopt the digital things and these changes.

The website provides a vital role in digital marketing and it is a key tool in your business growth.

Final Thought-

There are many more reasons to have a business website but These were some critical points that prove that you must have a business website. So Don’t think again and get a professional-looking website for your business.

If you think, getting a website ready for your business is expensive then let me tell you it’s not, Nowadays it is very easy to create a professional-looking business website, you can create it at your own without hiring any website developer or the agency. You don’t require any prior technical or coding knowledge.

If you are interested, you can get enroll in our Business Website Creation Course.

For your Success…!!!

Vikash Sharma

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