• Today is: Monday, June 25, 2018

Reinvestment – The Profit Mulplier

Sabahet Amjad
March28/ 2018

The first profit is always the topmost milestone for an entrepreneur. It gives the business a new lease of life and motivation to work better but this is the also the point where you get to choose between being a smart businessperson or an ordinary one. While the profit earned calls for a celebration, it also demands that the right decision is made; the decision to invest the money into the right place. Surveys show that the right approach is always to reinvest a portion of your profits back into your business. This might seem unnecessary when there’s the luring option of popping a well-deserved champagne or finally taking that long-pending vacation. However, this small sacrifice will help you reap bigger profits in the long run.

Let’s move on to the next phase of the decision – HOW? Once you’ve decided to reinvest your money, it is important to segregate the amount to be used for different purpose. The thumb rule for any investment is universal – DO NOT PUT YOUR EGGS INTO ONE BASKET. To put it into simple words, diversify your money. Nobody understands your business better than you; thus, there’s nobody else who could tell you where is more fuel required to make the run smoother. However, there’re some basic factors one must not ignore while deciding upon reinvestment. These are :
OPERATIONS & INFRASTRUCTURE: This is a no-brainer. In order to grow, one must have the types of equipment required to run the business properly. This is the time for you to stop managing and thoughtfully invest in a product –  be it hardware or a software licensing, which is essentially needed. This small step will only make your business process simpler and better.

EMPLOYEES & TEAM: You’re what you are because of your team. Their proficiency and capability help you achieve your goals. However, at the pace this world is running, proficiency becomes outdated at lightning speed. In order to maintain the edge of your team, it is very important to keep yourself updated. After your success is celebrated, invest some time and money in polishing your skills to face bigger challenges. Your teams’ abilities reflect in your work. Help them gain their full potential and more.

MARKETING & PR: There’s one fact you cannot deny – the competition is overgrowing. This is the age of information overflow and if one doesn’t make efforts to remain visible and noticed, there’s a complete assurance that your business will be lost in translation. Hence, however frivolous it may sound, it is very important to spend on marketing the business on various platforms and maintain good public relation. Ensure that you have at least one resource completely dedicated for this purpose.

The nerve of your business depends on your reflex actions.
Act wise and invest prudently!

An Effective B-Plan For Your Start-Up

Sabahet Amjad
March16/ 2018

Nothing remarkable happens by chance. It takes a great deal of hard work, efforts and of course, planning. A Start-up is no different. While making a business plan may seem cumbersome and practically an unimportant activity, it is a task that must be undertaken to evaluate oneself and where is one heading.

As you sit down to put on papers the details of your offering and various strategies to make your venture a success, you will realize your strengths and also, your shortcomings. Just by going through this exercise, you will have a roadmap for your future actions and your present propositions.

There’re innumerable tips for creating a business plan. The internet geeks have provided the world with thousands of templates to use and an equal number of references t0 go through. What is important is not to lose your vision in this tunnel and come up with a crisp, yet detailed plan for your business. There’re few things that you can concentrate on so that your b-plan is apt, clear and concise. These are:

  • K.I.S.S. – Yes, you read that right. We’re asking you to keep it simple and short. When a potential investor picks up your b-plan, they will NOT have all the time in the world. However harsh this may sound, this is the truth. An investor will only skim through your entire plan, hence, there’s no point in spending precious time and words on a heap of paper. The shorter, yet informative a B-Plan is, the better it is.
  • Touch The Essentials: Keeping it simple should not be confused with leaving out the major details. A B-Plan is not complete unless it chalks out the route for a business. Few pointers that cannot be avoided are as follows:
    • Business Description
    • Details about the Product/Service.
    • The Business Model
    • The Competitive Environment
    • Marketing Strategies.
    • Revenue Model
      The aforementioned are some of the topics that should definitely be discussed in the B-Plan so that your business looks well-defined and your plans well-developed.
  • Leave Your Mark: Let’s face it, this world is full of products or services ready to be served to customers. There’re millions of ideas ready to make people’s life easier. In this age of digital and product explosion, what is most important is to make your offerings stand out. Everyone is bombarded with tonnes of information but their attention span doesn’t exceed seconds. Hence, the biggest challenge is to let people know that your business is unique; that it offers a solution nobody has provided yet or provides it in a manner that nobody has done it yet. Make sure your USP is included and highlighted in your B-Plan.

 

You can easily learn the technicalities of creating a B-Plan but the nuisances to make an impact are generally overlooked. Your business is in its infant stage and it needs the right approach to be noticed.

Stay Vigil, Stay Aware!

Lady Entrepreneurs Who Dazzled In The Start Up World!

Sabahet Amjad
March15/ 2018

Business arena has always been a man’s world much like the rest of the planet. But in the past few years, Indian women have defied all the stereotypes and have taken the Start-Up world by storm. With their talent and resourcefulness, these ladies have established themselves as successful entrepreneurs. To inspire you further, we’ve made a list of these powerful women and you will be surprised to know how many of these famous ventures were actually a brainchild of women.
1) Yatra.com: Let’s begin with Seniority. Have you ever heard about Sabina Chopra? Probably not, if you haven’t been reading about startups. But, have you heard about Yatra.com? The answer to this has to be a yes. Yatra.com is everywhere – from your google search for air tickets to your honeymoon plans. However, what many of us don’t know is that it was co-founded by a dynamic lady called Sabina Chopra who has also served as its Chief Operation Officer. Prior to Yatra, Ms. Chopra headed India based Operations of ebookers, Europe’s largest online travel company. She has over 16 years of work experience, has a thorough knowledge of all facets of the Travel BPO Industry and an extensive network within the Indian travel community. Sabina Chopra spearheaded the travel revolution in India and helped in establishing the biggest travel website of our country.

2) Zivame: Who would have thought that lingerie could be bought online? Only a woman. Richa Kar was the woman who realized that there was immense potential in the lingerie sector. With her talent and experience, she single-handedly set up Zivame.com without any entrepreneurial background. She conceived the idea of Zivame while researching for her previous job and realized that there’s large blank space in Indian lingerie sector especially online. With her little savings and lots of support from her family and friends, she started off Zivame in Bengaluru. From rented space for an office to the leading lingerie online company in India, Richa Kar has surely broken many taboos with her entrepreneurial journey.

3) Nykaa : It took one female to revolutionize the complete cosmetic industry in India. Just a decade away from her retirement and well-settled in the plush position of the managing director in Kotak Mahindra Capital Co, Falguni Nayar took the leap of faith and started off Nyka. The IIM Ahmedabad Graduate says she has always had the entrepreneurial streak in her and it was the fear of complacency that led her to the decision of taking the plunge. Nykaa sells more than 35,000 products from 650 brands, both international and Indian, luxury and mass, and is constantly adding new labels to its stock. Last year, it brought global premium brand Estée Lauder on board, making MAC cosmetics available online in India for the first time. Two years ago, Nayar introduced her own brand—and it has gone on to become a best-seller. In her own words “One should be the Nykaa(Heroine) of her own life”. She sure is.

4) Chumbak: Chumbak’s Co-Founder Shubhra Chadha’s story is a golden example of how maternity changes a woman; she becomes a mother and in Shubhra’s case – also an entrepreneur. Shubhra always had the spirit of an entrepreneur but the perks of a well-paying corporate job never allowed the ideas to flourish. She decided to take a break when she had had her baby and that is when she finally decided to channelize her energies and ideas. With six months of planning, Chumbak was live and within 10 months, it was at the break-even level. What Shubhra started as a solution to India’s need for quirkier products has now become a leading brand people vouch for. Shubhra’s success story proves that perseverance and eye to detail is the key to make it big.

5) Yourstory.com: Shradha Sharma was born in the small town of Patna and all her life she wanted to make it big. She had another dream; her dream was to write stories. Combining her two dreams together and without any concrete business plan, she started to relentlessly work. What started with a blog on start-ups and small-time entrepreneurs soon turned into a website. Today, her venture is backed by the likes of Ratan Tata, Mohandas Pai, and many others. At the moment, yourstory.com is the only online platform that has over 500 inspirational, entrepreneurial and original stories. Shardha has also been included in the 500 Linkedin influencer of the world and has been awarded the Femina Award for Online Presence.

Your Business Needs A Website.

Sabahet Amjad
February23/ 2018

Your company needs a website. This is a simple fact that needs to be followed upon in today’s business scenario.

You might have a new venture that needs to be established and thus you will need a website.You might even be the owner of a flourishing business that needs no introduction but you do need a website now.
Internet is the biggest reality of today and we need to align our businesses with it to remain relevant and in the race. In order to understand the need for having an online presence in the form of a website, we’ve listed few advantages –

 

  • Internet is the new Yellow Page: Not so long ago, when we had to find information about a business we would refer to the yellow pages found in every household. Nowadays, we log onto the web and search.Imagine a prospective client or an existing one had to find information about you and they don’t find you on google. This is a mistake no business can afford in this age. These days, to be visible is to be on internet with a website..
  • Your business runs 24/7: The “closed” sign on the shop is not a restriction anymore. With your business website, a prospective client can always look into your product/service or any other information that they need practically during any hour of the day. Every business now has this ease of access; denying your business the same would only result in a loss.
  • It is good for the image:  But, what about strong goodwill? Yes, that still remains the key to the prosperity of any business. However, a good website showcasing the products, achievements, and testimonials from the clients come handy as a catalog for your business that can be accessed by all. Your website is your visiting card in the digital world. The more impressive it is, the better.
  • Cheaper than you think: Getting a website made for your business directly translates into an expense that you think that you don’t really need. But, do you know that getting a website made for your business is, in fact, not that expensive? It is probably lesser than what you would spend on other sales techniques. Though, the benefits you may derive will outnumber the definitely money spent. So, choose your investments wisely.
  • Makes your brand stronger:  We all dream that someday our businesses will become our identity. With a proper website, you can give a global presence to your dream. Your philosophies and timeline can be showcased before the world. It shows what you stand for. It shows what your brand offers. A website is the first step towards brand building.

If you already have a website for your business, good move! Now, try to compare it with your competitor’s and improve upon it if needed.
If you don’t, we hope we have convinced you to go for one. Hope to see your business’s website on the web search next.

 

 

E-Commerce – The Shangri-La of Retailers

Sabahet Amjad
February22/ 2018

There was a time when e-commerce had just opened its avenue in India. The Indian retail market was left bewildered. It was a clear encroachment upon their livelihood. What Indian retailers did not realize was the fact that the e-commerce was only going to add a bigger horizon to their business aspects.  With time, however, the retail industry realized the immense opportunity that e-commerce opened up for them. Today, retailers thrive with the boom of e-commerce.

 

Here’s how e-commerce has proved to be beneficial for retailers –

  • Global Reach: With the help of online selling sites, many small-time businessmen and retailers have grown their reach manifold. Before the e-commerce wave, their customer base was limited only to their area.Internet has given a platform to sell their products to a large number of customers whatever may be their location.
  • Reduced transaction cost: The cost per transaction is considerably reduced through e-commerce as the entire purchasing cycle is handled online. From getting the order to receiving the payment, every important step is taken care of through the web and requires less manpower which leads to lesser costs.
  • Reduced overhead cost: Upkeep of a brick and mortar store is a highly expensive affair. In order to expand it, one would need to spend more on the employees responsible for the maintenance. E-commerce, on the other hand, enables expansion without added manpower cost.
  • 24/7 Business Hours: The “everything-on-a-click” approach has been beneficial not just to the consumers but also to the retailers. With the Internet, the products and services are always open for display to potential buyers everywhere. The customer can order the product online anytime from the comfort of their homes.

 

The rise of e-commerce has definitely ushered in a number of competitors. However, at the same time, the benefits it has provided has enabled an enhanced selling experience to the retailers. Indian retailers have finally realized the mentioned benefits and are utilizing the full potential of e-commerce. Over the year, the number of sellers on e-commerce website has increased exponentially. Indian retailers have come of age. Now, they know that their power lies in a click and they are clicking their way to brighter future.

To Register Or Not To Register

Sabahet Amjad
February22/ 2018

With our youngsters bubbling with ideas and our economy welcoming entrepreneurship, India has become the new startup capital of the world. After globalization, we spent two decades creating empires for first world countries with the help of our technical expertise and research abilities.

Fortunately, with the dawn of new millennium, young India realized that we have always had the power to create and all we needed was a push.

As a result of this realization and with the support of the new policies of the Government,  approximately 800 new startups register every year in India now. But what about those that don’t?

Our country is still full of 20 somethings with groundbreaking ideas but without a roadmap. Many still work on a mythical great idea of working but without any documentation or registration. Due to lack of exposure to laws, many believe that registration is a cumbersome process that requires tons of paperwork and time. It is high time that our young guns get a proper idea of the options and the procedure that Indian law provides. Let us give you a brief introduction to the forms of registration available:

 

Sole Proprietorship Firm: Let’s start with the simplest structure. This business is meant for those who believe that registration is a complex process and are afraid of the regulations that follow. A sole proprietorship business is registered in the name of the individual and the business is not a separate legal entity. In simple words, you can register the fact that you have a business and can keep the books of accounts on your name. Even, the tax liability will be added in your personal return. You can register your residential address as your office address.  In return for all these advantages, you may be solely responsible for the losses as well, if any.

 

One Person Company: One person Company or OPC, as mostly known, is the biggest step Indian lawmakers have taken to ease the process of setting up formal business in India. Sole proprietorship, even though simple, comes with its own disadvantages. The access of the law to the personal assets in case of losses is something that everyone would like to avoid. The continuation of business in case of the death of proprietor is also not possible.
OPC has the advantage of getting a company registered with the benefits of a private limited company but with only one member. One can assign a nominee who would continue the business in case of the demise of the owner. As compared to other forms of structure, very few legal compliance is required; even an AGM is not compulsory. The biggest advantage is that it has limited liability for the director/owner’s personal assets. One can increase the number of director to 15 and even convert OPC into a private company.

 

Partnership: No business starts or runs on one brain. In layman language, a partnership can be formed when two people want to work together and are ready to be equally responsible and liable for the firms’ profits and losses. A partnership is an extended form of sole proprietorship where there’s more than one person involved. It comes with the same advantages and disadvantages.

 

Limited Liability Partnership: A Limited Liability Partnership or LLP is one where the firm is a separate legal entity from the partners, i.e., the partners have liability only up to their share in the partnership. LLP has become a quite famous as a business form. The only limitation an LLP may face would be in case of expansion. An LLP cannot go for an IPO. Thus, the partners may have to re-establish themselves as a different type of structure all over again with fresh formalities and paperwork.

 

Private Limited Company: A private limited company is the most sophisticated form of company. It might seem as complex but the advantages it offers in the long term are plenty. Due to latest amendments to the law, one can register a company without any capital. A private limited company can also have a foreign person as a director. One of the biggest advantages it offers is that it can go to market for raising funds. Incidentally, only a private limited company can be financed by a venture capitalist. A private limited company provides the credibility that your business deserves.

 

With the plethora of these choices, young entrepreneurs should not shy away from registering their idea and change the business map of the world.

 

 

 

ART OF SMART BUSINESS

ART OF SMART BUSINESS
Subayan Sen Gupta
February04/ 2018

Power of 100 lines

Since the advent of technology. Method of doing business has changed quite a bit. As the mind set of customers is changing, new methods are being introduced into marketing and advertising techniques. With businesses more focused on acquiring customers, smart business houses are also looking to improve and develop aspects of process management. It is only fruitful to grab 1000 orders a month, only when you can process all of them. Delaying the orders creates a bad impression; and in today’s world of social media, bad news spreads fasters than light. Another ill effect of overwhelming volume of work, is loss of opportunity during that busy phase.

Now that we have established that process management is as important as marketing and advertising.  We, at Roaring Studios, have always put emphasis on all aspects of a business, especially when it’s about process management.  Our Software Solutions are like hydraulic fluid – powerful enough to displace heavy weight also flexible enough to be used in any shape and size.  It’s only after spending more than four years in creating such solutions, I have realised the power of code which we have been developing. It is safe to say that only 100 lines of code can relieve you of doing several calculations while creating an Invoice, or that same 100 lines of code can give you easy access to your inventory, giving you an insight of your current position. We have gone to great extents to provide accurate system to manage the money which runs through your business. Our system is not only an Internal Management System, but also a tool to enrich customer experience by giving them the power to create repetitive orders, tracking order status, account statements and also making online payment through PGI.

The amount of time which will be saved by avoiding the hassle through tonnes of paper work or getting a correct update on progress of the work done will be a great boost to your personal and professional life.

You know what they say about time, if can’t create it, you might as well save it.