Tag: Business

SEBI: Securities and Exchange Board of India

SEBI (LOGO)

The Securities and Exchange Board of India (SEBI) is the regulatory body for securities and commodity market in India under the jurisdiction of Ministry of Finance , Government of India. It was established on 12 April 1988 and given Statutory Powers on 30 January 1992 through the SEBI Act, 1992.

Securities and Exchange Board of India (SEBI) was first established in 1988 as a non-statutory body for regulating the securities market. It became an autonomous body on 30 January 1992 and was accorded statutory powers with the passing of the SEBI Act 1992 by the Indian Parliament. SEBI has its headquarters at the business district of Bandra Kurla Complex in Mumbai and has Northern, Eastern, Southern and Western Regional Offices in New Delhi, Kolkata, Chennai, and Ahmedabad respectively. It has opened local offices at Jaipur and Bangalore and has also opened offices at Guwahati, Bhubaneshwar, Patna, Kochi and Chandigarh in Financial Year 2013–2014.

The SEBI is managed by its members, which consists of the following:

*The chairman is nominated by the Union Government of India.
*Two members, i.e., Officers from the Union Finance Ministry.
*One member from the Reserve Bank of India.
*The remaining five members are nominated by the Union Government of India, out of them at least three shall be whole-time members.

SEBI has to be responsive to the needs of three groups, which constitute the market:

*issuers of securities
*investors
*market intermediaries

SEBI has three powers rolled into one body: quasi-legislative, quasi-judicial and quasi-executive. It drafts regulations in its legislative capacity, it conducts investigation and enforcement action in its executive function and it passes rulings and orders in its judicial capacity. Though this makes it very powerful, there is an appeal process to create accountability.

Mumbai HQ (Head Quarters)

5 courses every upcoming entrepreneur must do

In the current business environment, one must always be eager to adapt and learn new skills in order to survive and grow. Here’s a list of 5 courses a budding entrepreneur must do to flourish in the current environment, keeping in mind the trends and skills essential in the present scenario.

1. Digital Marketing

With businesses taking over social media platforms to increase their reach and improve their customer relations, Digital Marketing is the need of the hour. It is a brilliant way to interact, build and promote the brand. The traditional ways of advertising like print, radio and tv ads are not as effective as email marketing, targeted ads, paid searches, etc. It is the new way of doing business and every entrepreneur must know how to grow their business this way.

On some business-friendly platforms like Instagram and Facebook, one can also use analytical tools to know more about their audience like geographical location, age range, gender etc which can give helpful insights about the target audience of the business.

The course includes Social Media Marketing, Email Marketing, Search Engine Optimisation, Google ads and Google analytics.

2. Successful Negotiation: Essential Strategies and skills

Starting a new business requires efficient communication and negotiation skills. Whether it’s negotiating prices and contracts with vendors, suppliers or the customers, pitching the business plan to potential investors, communicating with the stakeholders of the company, it always comes in handy.

In order to grow a business, every entrepreneur should know how to negotiate and build profitable relationships for the business. This course not only improves the business communication skills of the entrepreneur but also, helps him/her in identifying the interests of the other party while negotiating which successfully helps them in finding a middle ground efficiently.

3. Start-up funding

The first step of officially starting a new business is getting funding, convincing investors, banks, financial institutions that the business plan is viable and has the potential to grow. It is important for an entrepreneur to work on his/her pitching skills in order to communicate effectively with the potential investors of the business. He/she should also know the process of getting the funding and the different sources and instruments he/she can select from according to the nature of the business and the funds required.

4. Business Modelling/Strategy

This course is not only essential for the success and future of the business but also needed to pitch the business plan to potential investors. The mere idea, concept and product/service is not enough to attract investors. Such investments generally involve huge amounts of seed capital and therefore, investors like to study the business model to assess the risk, returns, viability, market research analysis, cost structure of the business to determine its potential.

5. Brand Management

In a world where customer loyalty and retention are the priority, this course would help an entrepreneur learn how to retain and build a relationship with its customers. With every brand’s focus on customer relations, this will give the entrepreneur an edge over its competitors if applied effectively.

Customers value brands that are transparent, environment friendly and ones that value their customers and their feedback. Brand Management not only helps in retaining customers but also helps in building long-term relationships with them, thus establishing a stable and loyal consumer base.

Why Does Your Brand Need A Slogan?

“A Slogan can be considered as a Junior Logo.”

– Amatullah P.

A Slogan is that ornament which accentuates the beauty of your Brand Name by evoking emotions towards your services and company. Let us understand this statement with the help of storytelling format.

Your company is all set. You have decided on the services you would offer and on the basis of that, you have come up with a suitable brand name that would surely appeal to the mob out there! But, what if we add a cute slogan that would briefly explain your services or your way of delivering those services? That’s when you think of a Slogan which represents your company. Thus, it can be considered as a symbol that accentuates your services thereby making it easier for people to remember your brand visually that is, through your Logo and verbally through those brief subtle words that give an interesting image to your company.

That’s the reason, a slogan needs to be written well because it can leave deep an impact on the audience and can make them emotionally attached to your services. In short, one can consider a slogan as a Melodramatic Weapon that straightaway targets a customer’s heart! Of course, how you deal later with your customers too guarantees the image of your company.

Slogan as a Weapon!

A slogan needs to provide that warmth to the customer! It must possess that X factor or creativity. You want the customer to feel comfortable enough to work with you which should be very strategically highlighted in the slogan. All of this in just a couple of words? Yes, that’s what makes business a tough job because one can’t compromise with creativity since “Uniqueness is the Key to Successful Business.” Taking inspiration or copying other slogans wouldn’t be that eye catching or impressive enough to draw customers toward you! For instance, a Digital Marketing agency can use a slogan like, Guaranteed Creativity and Commitment or Trusted and Reliable Online Space For All which very subtly reassures your genuineness as well as helps people tag you as an appropriate platform that wouldn’t indulgent in fraudulent prospects since we all know, how difficult it is to simply trust anyone on the net today!

Comfortable Customer!

For instance, you own an eatery for which a good slogan could help. Let’s consider, Paula’s Creamy Junction selling cakes and all other creamy delights which would definitely be enhanced with a great slogan that would directly target the mob. A slogan like, Awaken Your Taste Buds or Indulge into Heavenly Delights would make people tempted and attracted towards your services.

Tempted Customers!

The slogan thus, explains your services with emotions which is necessary to awaken generosity and genuineness of your brand which people consider before trying you out! Also, slogans can sometimes explain the way a company imparts its services. For instance, a slogan for the same eatery could be, Crafted with Love or Hand Baked with Love which explains your intentions and method of preparation in short.

Some slogans use philosophical ideas like, Being Dedicated Always or Upholding the Customer Always which too, attract customers since people who resonate with your ideals or practically love them would willingly take a step towards you!

Reassuring its Presence! Let’s Go Dine 😉

However, selecting ideals and remarks for your slogans that would resonate and appeal to a wider section of the society completely depends on you, since nothing can be done without research. Interviewing people, having online surveys, emailing a few for their opinions, consulting your near and dear ones like colleagues or friends for ideas, could work. If most of the people adhere to a particular ideal and would appreciate seeing that in a company’s slogan which hasn’t as of yet been used, then make sure you grab that opportunity! Of course, be nice to your near and dear ones who come to you as customers initially through your slogan so that they can, with the power of feedbacks, get more customers for you!

Thank You For Your Precious Time (which I suppose wasn’t wasted with this enlightening article) 😉

Advice for first time entrepreneurs

ACCEPTANCE

Get ready to live in reality, not in real life! what does that mean? This means that anyone you meet and discover that you are an entrepreneur will say the same thing to you, “You should get a job, just to be safe.” Shouldn’t you graduate from school? The first one? You are not Zuckerberg. “(The worst person)” What would your relatives think of you? and many more. Stop arguing with them. These people think throughout their lives that if they do what others tell them, they will be happy, or at least realize their dreams. They have to learn from their own painful experience that everything is a lie.

Remove them from your life. Don’t tell these people after the first few phone calls. They will find a way to keep it to a minimum and insist that you stop reality and become pragmatic (so you may end up being as unhappy as they are). Forgive them. Few people have the spiritual and emotional power to implement entrepreneurship. Even those who do this will still collapse due to failure. Working on weekdays, drinking on weekends, getting up early on Monday morning, and continuing to do this over and over again is your only choice.


Always believe in your opinion.

You will not be a professional businessman, in the beginning, so you may do a lot of crazy things and create jobs according to your dreams. On other days, you wait for an answer to an annoying problem, and then “suddenly” find a solution. These two situations have one thing in common: intuition. By the way, you always trust your instincts. And I mean it. Sometimes you will be right. Not even the most respected experts. Sometimes you have to ignore other people and admit that your decision is a decision, and no one else has a say. Your instincts will be like superpowers.

The reality is subjective

After a business trip, sooner or later you will encounter a wall. Your progress is zero. Your day will be the worst day on earth. You will temporarily lose confidence and daydream, doubt your job, your career, and your future. When those days come, make sure you understand a simple rule: reality is subjective, and sales are the key to success. On these bad days, you will lose. You will work less. You will believe less. You will take fewer actions. Then you were crushed… crushed by yourself. If you are struggling, you can promote yourself by saying “You are an explosive entrepreneur” instead of “I’m just a stupid entrepreneur who has no real business experience and is frightened.” It is not lost. You are the next person, the next big business, the next person to make headlines. All you have to endure is hardship, just some weak obstacles that keep trying to stop your time and time again.

POSITIVE ENVIRONMENT

Empower the people around you. When forming a team, try not to make too many decisions. Eliminate bottlenecks that hinder decision Making and implementation as soon as possible. Instead, let the person closest to the problem make the decision. Inside the organization, or better yet, people outside the organization, such as your customers or suppliers, must make decisions more frequently than you.

LIFE CYCLE OF INNOVATION

INNOVATION

Innovation is the action or process involved in improving an existing product/service. It involves new techniques and ideas to create better products that add up value to the customers. Innovation enhances the brand value and is the key to the successful running of the organizations.

Example: Power banks – They are innovative reusable devices that replace conventional chargers in the absence of electricity. Power banks store the battery and give power through USB ports to the devices in need of charging.

LIFE CYCLE OF INNOVATION

The phases of innovation in an innovation life cycle can be the following

  • Ideation – Ideation starts with the necessity of a solution for a problem or to satisfy the customer’s requirements. The problem statement is identified first and the feasible idea to solve it, is generated. Curiosity, Creativity, Involvement gives impetus for a new idea to spark. This may either increment an old one or open a new market. Innovation potentials are generally identified through
    • Targeted search – This involves finding potentials through creativity workshops, idea contests, or LEAD user workshops.
    • Random findings – This involves discovering the new idea randomly while coming across some new products, suggestions, and customer feedback.
  • Research – This is one of the important steps as it involves identifying risks. After the idea is generated, research should be done to conceptualize and bring an idea into a form. Proof of Concept (POC) must be provided and it should prove that neither a similar product is available in the market nor POC is available and patented. This phase should ensure that the idea is possible by analyzing
    • Customer’s requirements – Customer’s unheard problems and needs.
    • Market potential – Market size and attractiveness for the generated idea.
    • Growth potential – Expected opportunities, growth, and scalability.
    • Risks and feasibility – Potential risks, technical barriers and laws, standards, and patterns.
  • Offering – This phase involves offering the product as a complete one to the market. Before it is offered, the availability of resources and scope of the product in the market must be analysed. The feedback from the potential customers must be obtained and incorporated. Use these customers as an anchor to obtain new customers. 
  • Commercialization – This involves launching the product as a commercial one to gain profit from it. The following points should be considered for commercialization
    • Sales plan and marketing strategy – How the product is delivered to the customers and attracting, convincing, and making the customers realize the need for the product.
    • Contracts and license management – Regarding the terms and conditions for using the product
    • Product management and engineering – Involves packaging, delivery, and installation. Striving continuously for future enhancements and updating the versions on a timely basis.
    • Customer support – Customer helpdesks, feedback management, etc.
  • Growth – This phase is to ensure leading the market. Continuous study on the competitors, new arrivals, and customer needs could help retain the market position. The product should be able to sustain the competitive market. Customer acceptance and support should be increased through the performance of the product. Eventually, revenue generation increases. The availability of the product must be expanded.
  • Retirement – A product goes through this phase when there is a replacement of the product by an advanced one. The product tends to lose the market position thereby failing to generate expected revenue. This may happen due to a decrease in demand, the substitution of technology or the product may no longer provide a relevant solution to the customers.

These phases of innovation are considered indispensable in the product’s lifecycle. So, it becomes mandatory to take care of every detail in the life cycle to achieve success and sustain in the market.

Exploring Business Approaches!

“Being business minded requires you to always approach things with humility and respect.”

– Strive Masiyiwa

We are by now familiar with two types of approaches which are of course, positive and negative but we miss out on another important one within the positive approach, the one that very subtly lets a wee bit of negativity drift in so that something positive can happen. Let us name it the Pogative Approach that uses negativity to make something positive occur in business. For instance, cheating with the delivery of your services to get a surplus is a good example of this approach. Thus, the point to be highlighted is that most businessmen resort to the Pogative Approach and assign it the positive tag. However, this approach isn’t acceptable in business owing to the fact that it has the capacity to damage your reputation which may only break the chain of regular customers and as stated in the earlier articles, you don’t want to compromise with the regular ones because they have the power to fetch you a new queue of customers through feedback. Thus, businessmen must shun the myopic perspective and have an agile future vision.

Before inaugurating your business on a large scale, it is better to begin as an entrepreneur because a bigger company comes with reputed customers and you don’t want to deal with them without any previous practice. You don’t want to mortify yourself by not being able to impart those perfect customer service skills. You don’t want a bad image owing to lack of expertise. That’s exactly why, we move from basics to advanced level of expertise because as the saying goes, Practice makes Perfect. Thus, practicality comes into handy as it lends us a helping hand towards the topsy turvy business route. Everything in life surely has stages. So, a company owner must have run errands or worked as an entrepreneur which is essential as it helps us understand whether or not we are interested in business. It can be considered the first stage. Many a times, after going through this basic stage, a person realizes that business isn’t his piece of cake, which eventually helps him back off and prevent future losses!

When customers come into the picture, businessmen have to adopt an emotional approach. Though, it may be a lipstick of sham that feeling needs to reach and penetrate deeply in the customers’ heart so that they feel impressed and prefer you yet again in the future. This is what constitutes customer service. However, instead of pretending to be emotional, it is advisable to be true to your feelings and respecting each and every customer who trusts you with their hard earned money. You don’t want to dupe them by showing a ruthless image that can never be dropped in the near future since First Impression is the Last Impression as we all know. Of course, you aren’t expected to have deep rooted loving emotions for each and every customer, but you surely must possess those ethics that dislocate your intentions of betraying them through lack of commitment. In short, emotions and ethics share a close relation which makes adopting the emotional approach mandatory since every customer matters.

Every business is a convenient spot for customers thus, expecting variety in conveniences is acceptable. Thus, one should adopt a flexible approach that welcomes all sorts of services to the society so that customers feel satisfied enough to approach you. For instance, if your business includes website designing then make sure you incorporate all sorts of web related activities. You too want a variety of sources that fetch you income, don’t you? Thus, don’t adopt a rigid approach and remember to remain open to the market trends as you digest new services in. Flexibility also comes into limelight when you are expected to fine tune your services. Don’t be rigid with the manner of your services and try streamlining them with new facilities each and every time, as the market trends transform! As we all know, we can either introduce new services or evolve convenient features in the existing one to make it look like a new service. Thus, both of these require a broad based mindset which accepts feedbacks be they in the form of criticism and takes these in a positive manner to enhance the quality of ones services.

Let us understand all of these approaches through a short story. Let us imagine a company selling children’s wear. The owner before beginning this business had been working as an entrepreneur and stitched pretty garments at home which received great demand later. Thus, it helped the owner evolve into a huge business since she had gained some expertise in customer handling and felt the need to occupy a bigger platform for herself. Customers receive a warm attitude that doesn’t back in pleasing them which lures them all the more. She stitches garments even better than the customer demands, which obviously melts them. They pledge to choose her always because the love mixed with the services clearly touches the customers’ heart. It’s been a year or so, she surveyed some people who informed her that including ladies wear could help which she flexibly considers with a positive approach and tries her hand on this new endeavor. She effectively learns the same and drags attention of women on a large scale after 6 months owing to the efforts she puts into perfectly constructing those beautiful garments with unique patterns that every lady feels eager to try out. In short, dedicated and flexible approach that accepts feedback helped her succeed and have a huge business. After ladies wear, she tried incorporating teen wear and this variety gained wider public admiration. In short, one mustn’t hesitate in introducing new services or trying hands on multiple ones so that success touches our feet!

Be Flexible, Be Vibrant, and Be Dedicated!

Happy Business- Ing!

Business Development | Skills to become a Business developer

Business Development

The work of forming strategic opportunities for a business or the place you are working at is known as Business Development. It includes giving ideas or generating for the company/business to grow. It can be by increasing sales and making a profit to the organization by building strategic partnerships and building business decisions.
I have worked as an intern as a business developer, and my work was to generate sales for the educational organization. Since I was a college student and was confident to get the clients and soon I was hired. I generated 4-5 sales within a span of 1 month and also got paid. As my first internship, I was happy to work as a BD (business developer) and get paid as well. During my internship as a business developer, I worked under an HR (human resource), the work of HR is to recruit skillful business developers, screening and provide training to the job applicants benefiting the company. Working under HR is telling him/her about everyday tasks done to grow the business. I still remember my HR daily used to keep track of all the recruiters and asking them if they made any sales.

Skills to become a Business developer:

1. Firstly a person with good marketing skills can attain this internship/job.
2. Convincing people faster is the ability to get a person to your side and make them do what you ask.
3. Make people trust you, this is a quality of a BD. But yes never lie to your client that he would regret it in the future, be transparent and tell them the pros and cons that are real and not made just for your benefit to get clients.

business developer

Roles of a Business Developer:

1. Business expansion
Remember you get hired only because they saw an ability in you to expand business benefitting them.

2. Get them Clients
The sale means getting them sales who will pay for the services, it may include generating sales by selling courses of the organization profiting the company. Sales are having one-to-one conversations with the clients and asking them to participate in the organization and telling them about all the services they will be getting after they pay for the organization.

3. Client service and experience
This is a very important role that is after you generate clients and get sales done asking about feedback is very important. Asking the client his/her experience is the same as winning the hearts of the client and will also profit you later as it may help you to understand the flaws done before and now you will be sure not to repeat them.

4. Strategic Initiatives
Make strategies, a step-by-step procedure to generate sales and business to grow.

5. Market Development
Market Development includes growing business to the highest extent you can.

6. Marketing
As discussed earlier it is the skill required for you to get into the job of a business developer. Marketing is everything doesn’t matter how big or small a company is, a person with good marketing skills can uplift the organization the way nobody else can.

The goal of a Business Developer:
• To make Business better.
• Generate revenue profit from market
• Compete with other businesses
• Business expansion

How much do Business developers earn?
The average salary for a business developer is 19,925 per month in India.
Also if you have the capability to grow the business more your salary could be up to 1.5 lakh/month
A career as a business can be tough and challenging but with time you learn all the tactics and realize that the work all depends on your skills.

Turn your career in a better way:

Do not wait for the other opportunity and grab if you really think you deserve to be a good business developer. Apply to internships on Internshala and many online platforms like Internshala and gain experience to learn how the work is done which will help you to attain a good business developer job at a good salary.

All the best!

BASICS OF DIGITAL MARKETING

What is Digital Marketing?

Computers and the internet have made it easy for us to do many things simultaneously. It has revolutionized our thought process. With the Covid-19 pandemic the entire world has adapted to the situation by working from home. The use of the term ‘Digital Marketing’ has increased during this time frame. It is used to promote small businesses as well as large scale businesses. We make use of it from the time we use our phones to surf social media platforms like Instagram, YouTube, etc to making deals and strategies for our company or brand. Digital devices, platforms, media, data generated and technology are the foundations of digital marketing.

Milllenials are considered as ‘digital pioneers’ of technology and social media. It is the generation to be born into a world which is at its peak technological innovation. It has seen the rise of many Influencers and social media pioneers who make content and earn through brand collaborations. For a brand, an online presence has never been as important as today. Online brands like Amazon, Google, Zomato, Myntra they’re all based on keeping their online audiences engaged.  As Albert Einstein said “In the middle of difficulty lies opportunity” there is an opportunity for us to seize even in a pandemic. Marketing yourself is the best strategy to follow in this digital era.

Types of Digital Marketing –

With digital marketing platform, you can gain a better understanding of what type of content resonates with the customers. This allows marketers to understand the demand of the consumers. It is entirely dependent on the engagement rate of the audience.

Digital Marketing can be branched into Search Engine Optimization or SEO Marketing, Email Marketing, Social Media Marketing or SMM, Influencer and Affiliate Marketing, Pay- per-click or PPC Marketing. When the customer is looking for something to buy they will probably click on one of the first results that show up on Google. Hence SEO Marketing comes into the picture. It consists of learning strategies on how to rank your own website on Google using appropriate keywords. It is more credible form of marketing. Email marketing allows organizations to stay connected with customers and clients via newsletters and connecting employees within a company to interact formally. Social Media Marketing involves Instagram, YouTube, LinkedIn, Twitter for promoting brands, businesses or their skills using visual effects. It depends upon the impressions, comments, conversions, clicks, etc. Influencer Marketing requires you to choose up a specialty and create a platform and gain followers. The followers trust the influencers, which makes them likely to buy a product recommended by them. Affiliate Marketing is to promote other brands and earn a certain percentage through it. Pay-per-click or also known as PPC is one of the most common types of digital marketing. It charges you for the number of clicks that you get on your advertisement. PPC comes under search engine marketing and content or social media marketing.

Digital Marketing is cheap, measureable and has high returns. Various resources online provide insight into what digital marketing is. There are many students studying in universities who decide to take up Digital Marketing as their major and make a career in this field. The knowledge and skills are just as important as it is to keep ourselves updated with the ever changing technology.

How & What Mindset build a better world?.

As a general rule, it’s more profitable to leverage your strengths than it is to fix your weaknesses.

This is especially true when we are talking about skills: focus on what you do well, and let someone else do the stuff that you struggle with.

There’s one huge exception to this general rule however: bad mindsets.

A bad mindset is not just any ordinary weakness, it is a criticalweakness that will hamstring your effectiveness if you don’t address it.

One example of an unhealthy mindset is the scarcity mindset. The scarcity mindset views things like wealth, success, and fame as something like a pie. There’s only so much to go around and if one person takes too big of a slice, everyone else gets less.

In this worldview, Bill Gates is inherently evil, regardless of how much good that he has done for society, regardless of how much he has helped others, both through his products and through his foundation. He’s evil because he took too big of a slice and didn’t leave enough for the rest of us.

To whatever extent you find yourself resenting rich and successful people, you have a scarcity mindset.

To whatever extent you find it difficult to be truly, genuinely happy for the success of others, you have a scarcity mindset.

The alternative to a scarcity mindset is an abundance mindset . The abundance mindset says that we can create more value for everyone. Instead of viewing wealth and success as a zero-sum game, we can create win-win situations where everyone comes out better than they were before.

If you have a scarcity mindset, you will find it hard to collaborate with others because their gains are your losses. If you have an abundance mindset you will readily collaborate with others because you recognize that you can create more value that way.

That phrase “create value” is crucial to the abundance mindset. Value, and thus wealth, doesn’t just exist, it can be created. We’re not limited to dividing up the pie we currently have. We can make the pie bigger. We can make new pieces.

In fact, if you really want to get ahead, the way to do so is not by looking out only for your interests, but the interests of others.

Instead of suspiciously hoarding all you have to offer until you see an opportunity to leverage it for profit, the best strategy is to be generous. Generous with your time, generous with your knowledge, generous with your skills.

If you really think hard about how exactly the people who are making a full-time living online are doing it, the simplest answer is generosity. They pour their time and energy into creating valuable content that helps people and they build a following of true fans — people who trust them and are grateful for their contributions. When they finally release a product, they have legions of eager customers.

I once heard Darren Rowse, the blogger behind Digital Photography school and a ProBlogger , describe his first product. It was an ebook called “31 Days to Build a Better Blog.” It wasn’t new material. He had already done a series on his blog called “31 Ways to Build a Better Blog” and just added a few things and repackaged it as an ebook.

Why would anyone want to buy something that was available online for free? One reason might be that they value the efficiency of having it all in one place so they don’t have to search through his archives when they want the info. One reason might be that people just like the thought of owning something.

But a surprising reason was revealed through several people who emailed him saying that they knew they could get the info for free, but bought the ebook anyway because it was the first opportunity they had to thank Darren for all he had done for them.

Think about that for a second. His product offered little in the way of new value, but customers happily bought because Darren had created such a surplus of value for them.

Counter-intuitiviley, one of the best strategies for getting ahead is to give generously.

The scarcity mindset is forced to always ask “what do I get from this transaction?” The abundance mindset is free to ask “what can I give in this transaction?”

A really interesting book that I read recently was called Secrets of The Millionaire Mind . This book very closely ties your ability to get rich to your mindset. The idea is that your thoughts and your feelings drive your actions, and your actions determine your results.

He says that people have a “financial thermostat.” Just like a house is set for a certain temperature, each person is programmed for a certain level of wealth. Just like the temperature in a house can fluctuate even with the thermostat on (the temperature outside the house might change rapidly or maybe someone leaves a window open), a persons level of wealth can fluctuate based on external circumstances. But as long as the thermostat is set to a certain level, that is where they will default back to in the long run.

The only way to become truly wealthy in his view is to reprogram the thermostat — to change your mindset as it relates to money.

You need to ditch the ways of thinking that are holding you back and embrace the ways of thinking that can move you forward.


So, have a abundance mindset and go forward in your life. Remember, it always the giver who gets benefits more then who charge for there givings.

See yaa..

Start your own Business

Nothing beats working for yourself. Even when you love your job and think that it’s rewarding, the satisfaction you get when you are your own boss is a completely different feeling. Not only is it more meaningful but it comes with so many benefits. While it may seem alluring venturing into a new market, especially if you are a startup, it can be tricky, and let’s face it, pretty risky too—you are putting in more hours than at a 9-5 job elsewhere, and there will be moments where you may actually be sacrificing a lot more than just your time. Even then, it is absolutely worth it.

BUYING WEBSITES :

Just like stocks and property, in our interconnected world thanks to the internet, websites also have a really high value. Even as you read this, websites are constantly being purchased or sold for hefty prices. There are several factors that will affect the value of a site online, such as the domain name, the amount of traffic it receives, general popularity and profits that the site earns amongst other factors. While this business can be really lucrative, it requires an in-depth understanding of the market, however, once you understand how it works, you could potentially be sitting on a goldmine.

ONLINE COACH :

If you are passionate about something and have a big knowledge base about the topic, you could start a career as an online coach. Setting up a YouTube channel with tutorials, setting up a blog to help people understand concepts, creating online courses—there is a multitude of things that you could be doing. Online coaching can be a lucrative way of making money, however, make sure you don’t oversell yourself online or to a client as their success depends on many different things that may not entirely be under your control.

VOCATIONAL CONSULTANT :

If you are leaving behind a corporate job with a fair amount of experience to start your own venture but have no idea where to begin, this one may be for you. There are several people out there who want to learn how to ace a promotion interview or ask for a raise, or simply land a high paying job. If you have useful tips for them, you can just start your own consultancy and people will be willing to pay you good money to learn the tricks of the trade. If you aren’t ready to start up your own website or just want to test out the waters, you should look at signing up to platforms such as The Muse or Coach Me where others are looking for people like you to mentor them.

REAL ESTATE VALUATION :

Real estate valuation is a great job to have because you can decide how much you want to work, where you want to work from and these parameters will decide how much you earn. You don’t necessarily need a degree in this field but you should check if you require some kind of certification in the country or state that you want to operate in. Of course, apart from the certification, you also need to have a solid understanding of the market to be able to make a living for yourself in this field.

GRAPHIC DESIGN :

There is a huge demand for graphic designers in the market today. If you already have the existing skillset and knowledge of design platforms such as Adobe Illustrator, Photoshop or Sketch, then you can literally just sign up to Fiverr or Upwork or find remote jobs on websites such as Jobspresso. However, if you don’t have the required skills, you can always sign up to Skillshare and enroll in a graphic designing course and then practice through smaller gigs. Businesses need graphic designers to create logos, banners, social media posts, design campaigns, products and packaging and so many other smaller processes that we don’t even realize. So keep practicing and before you know it, you may be snapping up clients with the utmost of ease.

PRESENTATION DESIGN :

Believe it or not, there are entire businesses set up for people to hire someone else to create their PowerPoint presentations. For those who are not well-versed in technology or have a tough time getting around Microsoft Office, creating a presentation can be a major challenge and even a hurdle in their professional career. Familiarize yourself with different types and formats of presentations, such as Pecha Kucha or Prezi, and you can widen your customer base even more.

WEB DEVELOPMENT :

Web developers are highly valued due to their specific knowledge of a complicated subject. If you can master the basics of HTML, Python, CSS, Ruby and/or Java script, and get some experience for your portfolio, you are all set to start your own successful web development business. You can further hone your skills or learn a new language on Treehouse.

APP DEVELOPMENT :

3.8 Million apps on the Android store, 2 million apps in the iOS store and every single day more new apps are being created and released. You can find an app for nearly anything: Some are useful, while others aren’t so much. Creating an app and launching it is a tedious process with a lot of hard work going into it—from the coding and development phase to creating a beautiful interface and providing the best user-experience possible. Furthermore, you might also want to market your app on social media. If your first app is a success this may launch you into a career in app development with some great projects in the future.

ONLINE JOURNALISM :

If you have a degree in a communication field or in journalism but don’t want to work in a traditional newspaper or broadcasting atmosphere, you could look into online journalism. Build your portfolio with online companies such as HuffPost and then work your way to creating your own medium of news; be it a blog, You-tube channel, social media channel, etc. Then you can add sales funnels by looking into advertising revenue.

AFFILIATE SALES AND MARKETING :

This is a great idea if you are running a channel on YouTube and have decided that you would like to turn the views into revenue. The same can be done with a website that is generating plenty of traffic. All you have to do is join one of the big affiliate networks such as ClickBank or ShareASale and you can turn your existing content mediums into a source of passive income.

PODCASTING :

You can start your own podcast about niche topics that you have a solid knowledge base about; the more specific the topic is, the better. If you already have a podcast that you are running for free, you can crack some sponsorship deals to turn it into a source of income. All you need to be sure about is whether you are creating consistent, valuable and relevant content for your audience.

WORDPRESS WEBSITES :

Many small business owners, especially ones that are foraying into the ecommerce world, like to create a basic website, usually hosted on WordPress. If you have a working knowledge of WordPress or have the time and resources to invest in learning about the platform, you could be earning hundreds of dollars just to launch a website. Investing your time in learning about WordPress will pay off in the long run as well because it is an important skill to have these days.

OUTSOURCED CUSTOMER SERVICE :

There are several businesses out there that are looking for individuals to fulfill customer service positions. This requires a fair amount of experience, good people and management skills and should be familiar with organizational structures. Platforms like Upwork and Jobspresso provide many opportunities and the best part is that if you are good at what you do, you can even hire a team to scale your business and take on bigger clients.

BUSINESS CONSULTING :

If your friends and family are constantly turning to you for help when it comes to business advice because they know it’s solid, then it might be time to look into starting a business consultancy. The one thing about being involved in business consultancy is that you will need credentials no matter how good you are. Think about it: Would you take business advice from a random person working out of their home or garage? I don’t think so. Your credentials will add value to your knowledge and even if you don’t have them now, you can always work towards getting them! Companies are always looking for people with a great sense of business, no matter which field it is—public relations, marketing, strategies, human resources, etc.—so if you already have the required certifications then maybe you should jump onto this bandwagon.

Cooperatives: Providing Livelihood to people and empowering them with new jobs, new roles and new opportunities

Article by – Shishir Tripathi
Intern at Hariyali Foundation
In collaboration with
Educational News

In the present day times, where a virus is killing lives and people losing jobs each day, it is really important to have some skill, some qualification so that the contribution of an individual to the firm, to the organization or to the government cannot be ignored and the jobs are maintained like the previous times. But creation of new jobs is a slightly difficult thing at present and starting a business all on own is risky too. Now what next then?

This problem is being faced by most of the youth at present in India. To overcome this problem creation of Cooperatives by people can be a very great option. Cooperative society or Cooperative is an association or a group created voluntarily with the aim of fulfilling the common interests of its members.

One can easily decode cooperative as simply a group that is being created by people of similar interests or occupation that come together and start a new venture collectively.

People in many parts of India have come together at the local level and are running cooperatives together and earning good amount of income.
Starting a cooperative society is not so difficult task. According to Societies Act, 1860 a minimum of 7 people can form a cooperative.

For creating a cooperative, a proper mutual understanding between its members should be there regarding the work to be done, contribution of each member into the work done and other investments, distribution of profit after the work between the members and many more issues having a possibility of arising conflicts between the members of the society.
Cooperatives are different from other businesses because they function more for the benefits of their members rather than just earning profit for the investors.

Cooperatives are organized to provide competition, reducing costs, improving the bargaining power, expand new and existing market opportunities, improve product or service quality or both, and obtain unavailable products or services (those products or services that profit-driven firms don’t offer because they consider them as unprofitable).

In Businesses, the share of the person who has invested to the highest amount in the profit is highest. But in Cooperatives the profit earned is distributed among its members as per their contribution in the work or in the production process.


In the process of setting up of a cooperative, a core committee should be formed to represent the cooperative and those members who are good at a particular skill which is required for the growth of the cooperative.

Secondly, a proper study regarding the market should be done so that whichever product or service will be provided by the Cooperative, it gets its consumers in no time it arrives in the market.

All cooperatives have to be incorporated under the appropriate state statute. Selecting a legal counsel to draft or review the articles of incorporation and bylaws is equally important. A cooperative can start out with very basic bylaws and just refine them after developing the business plan.

Lastly, creating a proper plan regarding the techniques for efficient product of goods to be manufactured or following efficient ways to provide the services is important during setting up of a Cooperative. And also, it should be decided that how and when the services of the cooperative will be expanded in order to meet the demand requirements and overall well being of the members of the group.

There are many such examples of Cooperative societies in India that started from scratch and reached to a very high level in future not only across state borders but International borders too. Amul is one such example from India that started from the state of Gujarat in 1950 and is at the present the largest milk cooperative in the world. Amul is owned by 3.6 million milk producers and produces 4.5 million litres of milk per day with an annual turnover of more than 52,000 crores.


Another cooperative from Mumbai known as Shree Mahila Griha Udyog popularly known as Lijjat Papad brand created with the objective of empowerment of women by providing them employment opportunities. With total 43000 members all across the country, it has an annual turnover of more than 801 Crores producing Papad, soaps and detergents, Masale (spices), Gehu Atta (wheat flour), bakery products, Khakhra, Appalam, Chapati,etc.

Therefore people should talk about their interests and mission and collaborate together in the form of cooperatives and can work together and earn their livelihood and good profits by the means of production and various other services.

This needs to be read by every individual who’s not having job, or has lost his or her job, or fears to start a business all alone. Cooperatives will help people get stable income and overall prosperity to the locality, to the nation and obviously to the person who is working and his or her family too.

Agricultural Marketing; a boost for Agro-Products and their contribution towards G.D.P.

Article by – Shishir Tripathi
Intern at Hariyali Foundation
In collaboration with
Educational News

For an Agrarian Economy like India, the agricultural sector should contribute more than any other sector in the Gross Domestic Product (G.D.P) but even after being an occupation of almost 55 -60% of people, agriculture is contributing just 15 – 20% in the G.D.P. Being an occupation of such a large group of people and still minimal share in the G.D.P. of the economy means that there are certain limitations which are needed to be overcome.


The biggest limitation is that the agricultural products right from the simple wheat to a produced wheat bread, there is absence of proper agricultural marketing.

Now, when one uses this terms agricultural marketing, he or she is simply referring to an organized process of planning, organizing, directing and handling of agricultural produce in such a way as to satisfy the farmers, intermediaries and consumers. It involves numerous inter connected activities like planning production, growing and harvesting, grading, packing and packaging, transport, storage, agro and food processing, provision of market information, distribution, advertising and sale.

Agricultural marketing is based upon the idea of reducing the distance between the farmers (producers) and the consumers. It is a broader concept not just limited to villages and small towns but across the International borders too. Planned agriculture which comes under agricultural marketing is important so that whatever crop is produced it meets the demand of the consumers in the form of finished products. It aims in such a way that there is neither a situation of excess supply or excess production (that is just left uncared without good storage facilities) nor a situation of excess demand.

It also includes growing and harvesting of crops paying extra attention towards the techniques followed in the production process and efficient use of land and human resource along with technological resources too.

Grading is also done amongst different types of harvested crops and other agricultural products so that different types of products are available to different types of consumers with different requirements and available financial resources.

After Grading, the product is needed to be packaged in such way that it must be appealing to the consumers including use of different images and colors, and involving the details of the ingredients and the nutritional value of the product. Packaging the products in such a way that they must last longer and can be stored as well at the stockrooms and at consumers’ place as well.

Storage facilities are needed to developed by the government and other concerned authorities so that whichever good is produced in ample amounts, it can be stored for future without any degradation in the quality of the product due to insects, rats and other factors like moisture, rain, heat, etc.

Various researchers are trying to study markets and find the idealistic market structure for people living in villages and small town. The emphasis to markets is given in such a way that they meet the requirements of all the people living in that particular area.

Also, the transportation facilities are needed to be facilitated properly and should be made available to the producers in the remote areas of the country. The transportation costs must be affordable so that every producer willing to transport his produce or product should not stop himself or herself in being a part of this long chain and enjoying the benefits after the final sale of the produce or other agricultural products.


Now the most important of all is branding and advertising. Even if any other foreign firm or domestic firm is willing to sell the product under its label then also proper advertising should be there for the given product through Television ads and promotions through social media on various Apps. Advertising should be done in such a way that the product should look so appealing to the consumer and an urgent feel of purchasing the concerned product should be felt by the consumer after watching the advertisement. The buyers must feel that how important the product is to them in their daily lives after watching the product’s advertisement.

And the market for the product is again very important whether the product is sold online through e-commerce sites or is sold by various outlets in the cities and towns. A well managed system is needed so that the good that is sold to consumer is of the best quality and a justified price and the producers along with the intermediaries involved in this long chain are satisfied and get their share after the sale of a good.

Agro products not only include crop produce and other products manufactured from those crops but also the products produced by the people at local level such as milk from cattle, honey from bee-keeping, etc.

Such mechanisms will increase the share of primary sector in the G.D.P. The state and the central governments should make provisions and provide incentives to the producers and the intermediaries for developing such a fruitful mechanism that will be giving good returns to the country as well in the form of overall growth of people in remote areas and prosperity of the nation too.

Covid 19 Impact on business and jobs

Covid 19 epidemic & the lockdown applied by the Government to control its spread has had a major impact on the economy and business. Senior Executive jobs have also not remained unaffected from its effects. In the initial period of the lockdown, companies tried to hold on to their employees, both senior and junior.At least 41 lakh youth in the country lost jobs due to the Covid-19 pandemic while construction and farm sector workers account for the majority of job losses, according to a joint report by the International Labour Organization (ILO) and the Asian Development Bank (ADB).The preliminary results showed that loss of employment was considered as the most severe immediate impact of the crisis while lower economic growth and rise in inequality were probable long-term impact.Locking down has had a differentiated impact on industry sectors and corporate functions. From having taken serious hits to remaining relatively unimpacted and to actually gaining positive momentum, each sector and company have responded differently to it.Without any stimulus the economy might have declined by 12.4 per cent, the participants noted.Estimates of job loss showed that 80 per cent jobs were affected in urban economy, most of which were self-employed, 54 per cent jobs were affected in rural economy, most of which were casual employment, they said.The government had imposed lockdown on March 25, 2020 to fight COVID-19.It further noted that in India, two-thirds of firm-level apprenticeships and three quarters of internships were completely interrupted during the pandemic. The report calls on governments to adopt urgent and targeted measures to generate jobs for the youth, keeping education and training on track, and to minimise future scarring of more than 660 million young people. Senior executives need to prepare themselves for this change to stay relevantly employed in the future. On one hand, this may include a need for functional reskilling but more importantly, it will necessitate attitudinal retuning. If you have been an opening batsman for your entire career, you may have to settle in for a middle-order position or be ready for a coach’s job.We may no longer remain a leader of large teams but may have to deliver with lesser manpower and more technology. Organizations are likely to become leaner with flatter structures and the onus to fit in will eventually fall on individuals.The corporate job is likely to gravitate towards entrepreneurism, both in spirit and pay structures. Jobs in future won’t allow rolling down the sleeves, permanently.


Termination Built An Entrepreneur!…

There was a village on the banks of river Ganga. There lived a guy named Dev. He was the son of a farmer. Since his childhood, he used to manage agricultural work along with his studies. He was a scholar. He always acquired 1st rank in his school. Though he was born in a poor family, he was very confident and never let poverty come in the way of his talent. When he grew up, he scored very good marks in his 12th grade and acquired admission in one of the best engineering colleges.
During the course of engineering, he always shined. He was top in studies, extracurricular activities. He always led activities and programs from the front. There was a time when he had no money to pay the college fees, at that time, everybody in college, teachers, as well as students, helped him to pay the fees. On that day, he felt so blessed to have such amazing people with him. In the final year, he was going through many job interviews, few companies didn’t like him, few he rejected by himself. Then one fine day, a car manufacturing giant company grabs him giving a thick package. He was happy as well as excited for this experience.
The atmosphere of the company was very much new for him. He was appointed in the design and automation department. He was so happy to work with this automobile giant. Design and programming always had a special place in his heart. He was working hard, doing all the tasks given with full enthusiasm. Whenever he had doubts, he used to go to his colleagues without any hesitation. He was improving his knowledge day by day. He was a great team member. He always helped his teammates and made impossible tasks possible. His team was also awarded as the best team of the year by the board. Within a year, he got a promotion for his performance and now he was working as a team lead on the project.
One day, his department received an order of a new design. Competitors of the company were manufacturing an electrically automated car and they were about to launch it in a month. Now the task for Dev and his team was to design the required model in 15 days, so that manufacturing team can pull up their sox and manufacture and launch the car before the rival company does. It was a mammoth task for such a short duration of time and the thing was HOD of the design department was on leave for 2 months. Now the responsibility was totally onto Dev. Each of his teammates knew that this task is impossible, so they were very sad and frustrated, but Dev didn’t give up. He backed himself, boosted his team and now everyone was ready to give their best shot. Dev and his team worked night and day continuously for 8 days. On 9th day, they finalised the design with advanced features than the rival model. On 12th day, his design got approval from the manufacturing department. On day 14, m/f department was at their job. Manufacturing department worked hard, night and day, even design department helped them to make it quick. Everyone from both the departments was giving their best shot. All these efforts turn out to be fruitful and their model was on the floor on 28th day, two days before rival’s launch.
The model launched became very much successful. They captured the market with huge sales. Everybody was praising the design and manufacturing team leads. Dev and his friend Joy(manufacturing team lead) were very happy watching their efforts turning into a success. Even the board of directors called them and praised them for their work.
Everyone in the company was very happy except the two HOD’s, one of the design department and other of the manufacturing department. As they came back from a business tour, this was a surprise with a shock for them. Two newly joined juniors of their department made such impossible project possible. Now they could see their position in danger. Instead of praising Dev and Joy for their work, they kept on demoralising them. They keep on bashing them for no reasons. All they could see was the new car project they made successfully. Bringing them down became the motto for both HOD’s. Both of them had a good hold on the board of directors. They used to listen to the suggestions given by them. Then one day, both the HOD’s unitedly prepared fake account papers stating about the fraud of 50 crores in the manufacturing and design department for the electrically automated vehicle project. They even compromised a few employees promising them for promotion. They presented these papers in front of the board of directors. Board could see evidence along with witnesses. Even the BOD knew somewhere that Dev and Joy can’t do this, but they had solid evidence in front of them. Both Dev and Joy tried to convince them that they are innocent but failed. So both of them were proven guilty and were terminated from the company. They fought the case in the court and these took several years.
When they got a clean chit, both of them tried to get a job. But no company was ready to give them a job as per their past records. They felt so helpless. They were suffering for the crime they didn’t even commit. They kept on trying for a job for a year but failed.
One day, they decided to start their own venture. They bought a place on lease and began their journey. Dev used to design the product and Joy used to manufacture them. At first, they were not getting much response from the customers. But with bits and pieces and a lot of hard work, they settled themselves in the market. They focused on laser cutting business. Many automobile companies tied up with them for cutting of raw materials. After a few years of hard work, they became a renowned name in the laser cutting industry. Later they expanded their business to two-wheeler manufacturing and then four-wheeler manufacturing. Now there was nothing stopping them. They kept going working hard. After a few years and a lot of hard work, they captured the automobile market on a larger scale. People could only see vehicles of their company on the road. There came a time when the automobile giant which threw them out was at a heavy loss. It was about to shut down. But at this time, both Dev and Joy showed that they have a big heart and bought the company. The company which threw them out with false allegations got a new life only because of them. Success couldn’t be any better than this for Joy and Dev.

Retargeting versus Remarketing: The Subtle Distinctions

Introduction

Many of us, while scrolling through the labyrinth of the Internet, have come across an advertisement about some product that we had checked out recently. Many assume it to be a coincidence, but is it really so? The online marketing strategists say otherwise. This is, what in common knowledge, known as retargeting, (or remarketing).

Retargeting vs Remarketing

Retargeting (or remarketing) is a very feasible way of advertisement in present times. In this form of online advertisement, the people who already have had some sort of previous interaction with the concerned brand or website are the part of the ‘target audience’. Hence the ‘re’ prefix in the term. The companies prefer this tactic for the better calculation and planning data it provides.

Both retargeting and remarketing serve a very similar purpose, and hence, used interchangeably, but there are differences in their core principles, in terms of:

1. Audience

Retargeting mainly looks over the target audience, which includes anyone who has visited the website or any related product page, including for random surfing, price comparison etc.People see ads of the website or product they visited; the agenda behind this is to remind the audience of their interest in that particular product or service.

On the other hand, remarketing is for a more specific audience, also known as the custom audience. They are those people who have already shown their interest in some products by adding the item(s) in their cart, or have purchased something previously from the website. This audience is more likely to avail the services the host has to offer, and so, the companies approach them with different, yet more persuasive tactics.

2.Means of Marketing

Retargeting uses the cookies on the websites pages to assemble a list of potential customers. The audience is reminded about the website via static(pop up ads) or dynamic(ad videos) means.

Remarketing takes this a step forward and is mainly characterized by generating Emails regarding discounts, offers on the carted items, making it seem like a good deal to the customers. Buyers also have some ground level experience to rely on and hence, are more susceptible to indulge in the given offers.

Modes of Payment

ROI (Revenue on Investment) in an essential factor to consider while advertising. To make a net profit, the income must be more than the investment. One of the major investment on a product is on its marketing. And retargeting has very economic way of payments. Some of them are:

CPM (Cost Per Mille): It is the most common form of pricing, and is calculated on the basis of every thousand impressions served

CPC (Cost Per Click): In this tactic, cost is charged to the investing company on the basis of per ad clicked on.

CPA (Cost Per Acquisition): Here, the advertisers are charged on the achievement of the pre decided acquisition action.

In case of remarketing, advertisers adjust their campaigns on the basis of who does or does not opens the email. This is also termed as email retargeting. The purpose of this system is to weed out the uninterested people, and in turn increasing the number of potential buyers. 

Advantages of Online Marketing

  • It is easier and subtle to pitch ads for audience consideration.
  • Unnecessary costs can be reduced
  • The extent of advertisement is vast
  • Peer advertisement is a explorable option
  • Customer and potential customer database is easy to avail

With all the above considerations, it is often advised that remarketing and retargeting, as a whole should be used in tandem with each other to achieve optimum results. And other marketing tactics can also be implemented accordingly.