Tag: Business plan

How to Come Up with a Fantastic Subscription Box Business Idea

Subscription box businesses have recently seen a surge in popularity. This business model is perfect for almost any kind of products, whether it’s food, pet supplies, beauty products, or even an assortment of trinkets or toys. Savvy entrepreneurs are keen to start their own subscription box businesses, but that only means one thing if you’re one of them: it would be very difficult to stand out among the competition. Continue reading “How to Come Up with a Fantastic Subscription Box Business Idea”

4 Important Things a Professional Call Center Consultant Can Do for You

These days, many businesses see the appeal of hiring third-party service providers like call centers. With their competent workers and comprehensive facilities, such firms can help enterprises optimize their business processes at a lower cost.

Your company might want to take advantage of the benefits of outsourced call center services, but where exactly do you start? This is where the expertise of professional call center consultants comes in handy. Not only can these experienced advisors guide you about the details of outsourcing, they can also help you evaluate your options so you can make sure that you’ll have the right systems, tools, and personnel to mount a highly efficient contact center for your business. Continue reading “4 Important Things a Professional Call Center Consultant Can Do for You”

When a Startup becomes an Institution

Upgrading Your Systems

A successful startup eventually begins to increase in affluence at a somewhat predictable, hopefully expansive, rate. Look at it like a tree. The nut—or seed—of the idea must germinate before it grows into a sapling. For a time, that sapling begins to grow until it reaches its developmental aphelion. Its apex—the point at which its at “cruising altitude”, if you will. Continue reading “When a Startup becomes an Institution”

Acquiring 10 licenses / registrations ensures that the business is legal

Many small business owners are unaware of the license procedures that are required for operating their business. The license for a business depends on various factors like the type of the business, the regulations, and policies imposed by the government and the area in which they are planning to start the business. The license is a legal permit given by the local government to the company that indicates that it runs an authorized business and it is not only applicable to the new business, but even an existing company has to renew their application after a particular period. There are some businesses that require more than one license to operate their business legally in that state which is time-consuming and expensive, even though it is a tedious and frustrating process, obtaining all the legal documents and certificates enables the business to operate without any issues. Because if a company is found in non-compliance, they have to pay penalties and they are chances even for permanent closure of the business. Continue reading “Acquiring 10 licenses / registrations ensures that the business is legal”

The Modern Twist in the Tale

Most people have grown up listening to the story of the hare and turtle. It is a fable about a race between two animals who could not have been more mismatched in terms of speed and agility – on one side is a hare which is renowned for being lightning quick on its feet, and on the other side is a turtle, a animal that has the unfortunate distinction of being the slowest animal on four feet.

In the original tale, of course, the hare takes off at top speed – leaving the slow-moving turtle far behind – but then he gets complacent. Thinking that there is no way the turtle is going to catch up with him, he sits down for a rest under a tree, and falls asleep. The turtle, maintaining a slow but steady pace, eventually goes past the sleeping hare and crosses the finishing line, just before the hare wakes up and realises its mistake. The moral of the story was that slow and steady wins the race, while there is no point in going fast if you are not going to complete the task. Continue reading “The Modern Twist in the Tale”

The FMB Movement

The Family Managed Business Movement was pioneered by Dr M L Shrikant who combined Business Acumen, Management Education and Gandhian way of life. Through his life work of building one of the foremost business schools of the country, he propagated mission of “Influencing the Practice here and now”and “Value based Growth.” Linking Gita to Management he was a believer in Abyudaya (Rising together).

Today most of the Family Business discussions around us follow the western ethos which proclaims individualism, competition and consumption. Continue reading “The FMB Movement”

Business Improver: Forex Trade

In today’s world, growing businesses find themselves looking for ways to improve their profits through much more efficient methods. An option that seems to be a great alternative is Forex trading. This helps such businesses to work with the different types of currencies that best fits their needs regarding crucial aspects of their business, such as expansion into foreign markets.

The other most reliable alternative is to reinvest capital in order to gain more liquid currencies profits that would goon to areas like market research or any other internal operations that require capital when traded back or to make outside purchases. In this manner, the financial position of a business can see dramatic increases by utilising forex and CFDs from different trading platforms. Continue reading “Business Improver: Forex Trade”

Money and the ‘Generation Gap’

Money and the ‘Generation Gap’ – Prof Parimal Merchant, Principal Advisor-Asian Institute of Family Managed Business (AIFMB)

A young man, not very interested in the ‘boring, traditional’ family business, decided to strike out on his own and take up a job in a trendy tech company. Now his reasoning was that he would earn only around 25 thousand here, but at least he would be part of a trendy corporate culture, and hang out with the ‘cool’ crowd. So he started work, and with the first salary he got, decided to take his entire family out to dinner. His father had painstakingly built up the family business, and had been dreaming of passing it on to his son, dreams which were now dashed. Nevertheless, he put on a smile and went along, seeing how proud his son was to be taking out his family for a treat, with money that he and he alone had earned. Continue reading “Money and the ‘Generation Gap’”

Before Racing From Engineering to Management

Ever wondered why MBA is a natural choice for most engineering graduates in India?

Well, each of them might have their individual rationale to pursue management education as their post graduate qualification but the overarching truth is awfully simple. In India it is believed that on an average, a MBA degree double your value in the job market. How and why is neither known nor desired to be known. Coaching institutes don’t talk about it, parents often don’t get into it and b-schools don’t speak about it. Yet the magic wand is supposed to work and double your likely CTC soon after you graduate. Continue reading “Before Racing From Engineering to Management”

Accounting for Startups

Successful entrepreneurs are good strategists. They have foresight to spot future trends. They have insights to commercialize and execute ideas. But most entrepreneurs might have little or no exposure to system of accounting their business transactions. Growing number of technology start-ups are ideated by technical specialists with expertise in their area of interest. The big questions are – is there a serious need for them to know the importance of accounting at the start-up stage? Does lack of accounting exposure affect the way business decisions are made in a newly established innovative venture? How can knowledge of accounting make difference to the management of start-ups? Continue reading “Accounting for Startups”

Run Your Online Business on a Low Budget

Today, most people do not read books in hard copy, but on their Kindles. They do not listen to the news on the radio, but via podcasts. Instead of watching TV shows on TVs, they stream them on Netflix. These are just the most obvious examples of how the digital environment takes over our lives in this day and age – not to mention online shopping, online dating, online chatting and online working! Online businesses are not as new right now as they used to be ten or fifteen years ago and they became an omnipresent part of our daily lives. That is why more and more people decide to go into this venture. However, starting an online business is not cheap, so you might want to try to save some money, if possible. Here is how you can do that more easily. Continue reading “Run Your Online Business on a Low Budget”

What Might Happen If You Do Not Have An Office Cleaning Team

Life as we know it now is but the coordinated action of several functions. We take most of it for granted and forget the way the process has evolved. The modern world is filled with several such functions which have been perfected over time and we are reaping the benefits of its perfection. But what if one of them stopped performing as it were. Imagine the way everything would go berserk at even the smallest thing getting disrupted. Take for example, your office cleaning team. Continue reading “What Might Happen If You Do Not Have An Office Cleaning Team”

Three Ways Technology Can Improve Your Office Environment

Smart technology is a hot topic in business, with new products coming on the market every day designed to make your office environment more enjoyable. If you want to know what the many benefits are of integrating these top technology inventions into vital areas of your company, read on.  Continue reading “Three Ways Technology Can Improve Your Office Environment”

Mortgage Rates- Which one is best for you?

Mortgage rates are repaid or written off over a preferred loan term and they depend heavily on the annual income pf the loan taker. To determine this figure, most mortgage companies calculate certain ratios based on which they evaluate the monthly mortgage payments of both the interest as well as the principal. The flexibility varies with each company, but are you yet to decide which suits you best? Continue reading “Mortgage Rates- Which one is best for you?”

Why businesses need an integrated digital marketing services

One of the thoughts to ponder is in this digital era, when so many companies are jumping the bandwagon for having a presence on the web, why specifically do businesses need an integrated digital marketing services for making their presence felt over the web. Is it something that cannot be done in-house? Continue reading “Why businesses need an integrated digital marketing services”

Sustainable Business Models – Infographic

In this digiotal economy, we are witnessing a plethora of startups which are banking on the blossoming economy and trying to create value for the ecosystem. But not many of these entrepreneural ventures are able to make it big, in the days to come. So what could be the issues surrounding sustainability of business models?

Continue reading “Sustainable Business Models – Infographic”

Porter’s 5 Forces Framework – Competitive Analysis of an Industry

Porter’s framework is extremely established as a premium model to establish the competitiveness of any industry.  One of the challenges in using the framework is understanding what each of the nuances of the forces are. In this article we provide the details which are captured within each force conceptualized by Michael Porter in the framework diagram provided below. Continue reading “Porter’s 5 Forces Framework – Competitive Analysis of an Industry”

How to set up an E-Commerce Portal – A Case Study

2012 was an exciting year for Indian e-commerce, which capped off an incredible 5 years of exponential growth, from approximately $1.75 Billion in 2007, to over $14Bn by 2012. A lot is being written about 2013 as a year of possible consolidation for the industry. But regardless of how things develop in this sphere, 2013 will see more interesting trends and more interesting innovations in the Indian e-commerce, as the market matures. Continue reading “How to set up an E-Commerce Portal – A Case Study”

Setting up a Advisory Portal for Mobile Purchases – A Case Study

‘MobileGyan’ is very simply an e-Commerce website selling smartphones and providing consultation regarding purchase. MobileGyan serves as a platform for a variety of value adding activities regarding choice and purchase of mobile phones, in the end selling them too at lower than market prices. Our business model rests on our two strengths being surplus capital and technical talent. Continue reading “Setting up a Advisory Portal for Mobile Purchases – A Case Study”