How to handle business risk with this framework

Business Growth Pillar #6 Risk Management

Does your business have some strong risk management policies and frameworks in place? Doing business is a risky affair and you can’t avoid risk. So it’s really important to have a risk mitigation framework in place. There are certain key parameters that you need to focus on while trying to deploy an appropriate risk mitigation framework. In this article, we discuss particular aspects that you cannot possibly ignore as this may otherwise derail your growth. In fact, all the things that you’re working so hard for can be derailed.

Business Growth Pillar #6 - Risk Management

 

Strong Governance Forms The Foundation Of An Effective Risk Management Strategy

Start off by setting up a strong corporate governance mechanism. If you’re going to get external lending and funding, then it’s important to have strong governance in place. Here, you’ve got to look at not only statutory compliance but you should also make sure that everything is done and reported in a transparent way. (more…)

How To 4X Your Business Growth – Focus On Your Core Activities

Business Growth Pillar #4

Would you like to earn revenues that would be four times higher than what you currently earn today? Well, there’s one simple way through which you can achieve that. A recent EY report revealed that the companies which did this one thing had four times higher revenues than the companies that did not. So what is that one thing? Well, it’s related to your operations.

Focus On Your Core Activities

Companies that segregate their core activities from your non-core activities have four times higher revenue vis-a-vis companies that don’t. In this article, we present two different examples that make a business case for this. (more…)

How to Create a Wildly Profitable Business [Live Masterclass]

Learn the 7 Step Business Success Blueprint

I’ll be the first to admit when I first started my first business it was a disaster. However, over time I perfected my business growth strategy and I built a multi-million dollar business across India called BNI. The secret to a wildly profitable business is to treat your business as a whole system. Once I made this realization, my business became INSTANTLY profitable.

Wildly Profitable Business

To help you put a business growth strategy in action, I’ve created a special LIVE master class: “How to Create A Wildly Profitable Business”

I am going to share with you:-

  • The #1 Myth stopping you from being successful in winning in business and succeeding in life.
  • My BEST 3 Productivity Hacks that will make you insanely productive so that you are able to Double your productivity. Is that good? How many of you would love to double your productivity so that you have more time to focus on things that matter?
  • One thing that will 4x your revenue growth
  • What are the 3 key systems you need to scale up your business and which one is the most important
  • I’m also going to share 7 step business success blueprint to build lasting wealth in the fastest time!!
  • I’m going to share my secrets of building a multi-million dollar business working just 3 days a week

Register Online and join me on 3rd June 2017

Date: July 15th 2017
Time: 8:00-11:00am
Event: How to Create a Wildly Profitable Business [Live Class]
Venue: The Oriental Residency
9594066046
Location: P.D. Hinduja Marg, Off SV Road, Khar West, Mumbai, Maharashtra 400052
Mumbai, Maharashtra 400052
India
Public: Public
Registration: Click here to register.

How Technology Can Help Your Business Gain A Growth Advantage

The Seventh Business Growth Pillar

Technological changes have always reshaped business models. However, what is strikingly different now is the pace at which technology is changing and in turn disrupting all areas of doing business. But, are business models keeping pace with technological changes?

Technology Drives Business Growth In Competitive Markets

Companies that utilize technology to power their business model see a 3x higher growth rate than companies that don’t. Companies that use data for decision making compared to companies that do not have 20% higher employee productivity.

An EY report indicates that, since 2000, digital disruption has affected around 52% of Fortune 500 companies and businesses are failing to use ~80% of their customer data. Notably, by 2018, the top 20 firms in most sectors are most likely to face disruptions that may be caused by sector-specific data platforms.

The survey reveals that although most entrepreneurs acknowledge the impact of technological changes on their business, they either are not ready or have not made it a priority to take necessary steps to transform their business model to stay relevant. First generation entrepreneurs who have prior corporate experience are more open to adopting technology than the older generation entrepreneurs.

Technology Is Changing Business Models

Companies like Uber and Airbnb are disrupting industries with their business models. What are some of the things that you can do? Re-look at your business model. What are the key trends in your industry? What are the key disruptions? How can you leverage new technologies? There’s cloud computing, there’s mobile computing, there are the apps. Can you utilize any of these technologies to actually help you scale up your business that much better? Here are 4 specific strategies to help you use technology to grow your business: (more…)

How to Create a Wildly Profitable Business

Live Master Class

I’ll be the first to admit when I first started my first business it was a disaster.

Wildly Profitable Business

However, over time I perfected my business growth strategy and I built a multi-million dollar business across India called BNI.

The secret to a wildly profitable business is to treat your business as a whole system. Once I made this realization, my business became INSTANTLY profitable.

To help you put a business growth strategy in action, I’ve created a special LIVE master class: “How to Create A Wildly Profitable Business”

I am going to share with you:-

  • The #1 Myth stopping you from being successful in winning in business and succeeding in life.
  • My BEST 3 Productivity Hacks that will make you insanely productive so that you are able to Double your productivity. Is that good? How many of you would love to double your productivity so that you have more time to focus on things that matter?
  • One thing that will 4x your revenue growth
  • What are the 3 key systems you need to scale up your business and which one is the most important
  • I’m also going to share 7 step business success blueprint to build lasting wealth in the fastest time!!
  • I’m going to share my secrets of building a multi-million dollar business working just 3 days a week

Register Online and join me on 3rd June 2017

Date: June 3, 2017
Time: 8:00-11:00am
Event: How to Create a Wildly Profitable Business [Live Class]
Venue: The Oriental Residency
9594066046
Location: P.D. Hinduja Marg, Off SV Road, Khar West, Mumbai, Maharashtra 400052
Mumbai, Maharashtra 400052
India
Public: Public
Registration: Click here to register.

[VIDEO] How To Handle Risk In Your Business

Business Growth Driver #6: Risk Management

An often neglected but very important area that impacts the growth of emerging businesses is risk management. Risk management remains a non-priority until disaster strikes or a big opportunity is missed. Sustainability of a business depends heavily on how well possible risks are managed.

Entrepreneurs who have realized the importance of enterprise-wide risk management have set up a strong corporate governance (CG) structure and used technology heavily to mitigate risks. As a result, they have been able to increase their readiness to manage risks and improved their credibility in the eyes of investors/lenders. 50% of companies that have set up a strong corporate governance structure have managed to attract external investors vis-à-vis ~10% of the companies that have not.

Technology can help mitigate risks

All the companies that are confident of their readiness to mitigate risks have heavily invested in technology to manage risks and focus more on teamwork according to a recent EY report.

In this video we look at:
1. How to set up a strong corporate governance framework.
2. How to identify risks to your business.
3. How technology can mitigate risk

What business risk are you going to address?

Like, Share & Comment below

#Risk #Manangement #Technology #BusinessGrowth

Here are the links to all the 7 Business Growth Drivers:

Business Growth Driver #1: Be customer centric

Business Growth Driver #2: Leadership

Business Growth Driver #3: Employee Engagement

Business Growth Driver #4: Segregate core and non-core business activities

Business Growth Driver #5: Finance

Business Growth Driver #6: Risk Management

Business Growth Driver #7: Technology

How technology can accelerate your business growth

Business Growth Driver #7: Technology

Technological changes have always reshaped business models. However, what is strikingly different now is the pace at which technology is changing and in turn disrupting all areas of doing business. But, are business models keeping pace with technological changes?

Technology is a growth accelerator

Companies that utilize technology to power their business model see a 3x higher growth rate than companies that don’t. Companies that use data for decision making compared to companies that do not have 20% higher employee productivity.
 
According to an EY report, 52% of Fortune 500 companies have been affected by digital disruption since 2000; businesses are failing to use ~80% of their customer data, and the top 20 firms in most sectors will be disrupted by sector-specific data platforms by 2018.
 
According to the survey, although most entrepreneurs acknowledge the impact of technological changes on their business, they either are not ready or have not made it a priority to take necessary steps to transform their business model to stay relevant. First generation entrepreneurs who have prior corporate experience are more open to adopting technology than the older generation entrepreneurs.
 
How will you leverage technology to power your business model? Watch this video, like share and comment below.
 
#Technology #Disruption #BusinessModel #BusinessMentor #BusinessGrowthDriver #Innovation
 

How to attract funding to grow your business faster

Business Growth Driver #5 - Finance

As businesses grow, funding needs evolve. Funding a business through the various stages of growth is a complex process as it involves choosing the most appropriate source or a combination of sources (equity, debt, friends, and family, angel, PE, VC etc.).

Benefits of Investors

Involving external investors helps businesses in many ways:

  1. It brings in domain knowledge and technical expertise
  2. Opens up networking opportunities
  3. Provides strategic direction to boost growth
  4. Improves financial decision-making
  5. Instills professionalism
  6. Helps build credibility and reputation.

Companies require a well-structured leadership team to handle the corporate finance function. Strong financial controls and governance is the key. Further, companies that have external investors have seen significantly higher growth.  They are better equipped to take more efficient financial decisions.

According to a recent DNA Money article, Private Equity (PE) backed companies have a 40% higher revenue growth over a five year period vis-a-vis listed companies without PE funding.

Like, comment below & share. What do you require funding for?

The 7 Growth Drivers to Scale Up Your Business

Here are links to the various Business Growth Drivers:

  1. Be customer centric.
  2. Develop a 2nd line of leadership that is independent & accountable. This is one of the biggest challenges faced by small business owners. Learn the 7 steps to successful delegation here.
  3. Use a total rewards mechanism to engage & retain talent.
  4. Segregate core & non-core business activities.
  5. Finance – This video
  6. Risk management.
  7. Technology – use it to strategically drive growth.
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Time: 15:00-19:00
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9594066046 , 9920160184
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Mumbai 400050
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Public: Public
Registration: Click here to register.