“Higher the risk, higher the reward” is the most common advice thrown around new entrepreneurs and startups by potential bidders and VCs in a bid to motivate them, however, that may not always be the wise approach. But what about reducing and managing risk from day one? This is something that is seldom talked about in business summits and autobiographies, however, most entrepreneurs practise the art of de-risking their business from the very beginning. This provides them with a safer and accelerated route to grow their startup without putting the business under unnecessary risks. 1) Solve Problems as Your Main Revenue Stream Budding entrepreneurs often waste a lot of time by taking unnecessary courses, building fancy websites and things that don’t solve problems or deliver any value. The easiest way to be successful is to solve problems quicker, better or more economically than your competitors. Yes, gaining knowledge, improving skills…
Plenty of people experience some kind of energy crash during the afternoon while working, and…
Go to Bengaluru, San Francisco or Singapore and you’ll see one thing in common. Everyone has a startup or aims to build one. But then why do 90% of new startups fail early, and some as early as their incubation state or within the first year? This happens all the more with startups that have secured outside funding. More money and VCs give birth to a host of new problems, more compliance and the debilitating pressure to deliver on aggressive targets for scaling and generating significant ROI for the investors in a rather short period of time. The dream of being a unicorn is only realised by 1% of the startups and most of them are anyway operating under heavy losses like Uber or going bankrupt like WeWork. This happens a lot with first-time start founders who maintain a reactive approach to crisis management rather than being proactive and planning…
“Hey Siri, what does today’s temperature look like?” “Alexa, play some songs by Kishore Kumar.”…
“The key is to set realistic customer expectations and then not just meet them, but exceed them – preferably in unexpected and helpful ways.” Richard Branson, founder of Virgin Group Customer Relationship Management (CRM) is a critical and often overlooked business strategy for developing customer loyalty and driving long-term success. CRM is more than just during and after-sales service to your customers. It starts at the very beginning of the incorporation of your business values. It also involves how you manage and analyse customer interactions and data throughout the customer lifecycle. Why Customer Relationship Management? The primary goal of CRM is to improve customer service relationships, solidify customer retention, and boost sales growth. CRM systems compile data from a range of different communication channels, including but not limited to a company’s website, telephone, email, live chat, marketing materials and social media. They allow businesses to learn more about their target…
Companies are desperate for raw data like great white sharks are for blood, and there’s a good reason for it. For a business, raw data is power. It is everything. And the master key for using this power to leverage growth, sustainability and profits? Data Analytics By transforming raw data into actionable insights, businesses can make informed decisions that drive growth and innovation.This also helps in building a robust, data-driven culture that continuously evolves with market demands. What is Data Analytics? Data analytics is the process of examining datasets to draw conclusions about the information they contain. This process involves various techniques and tools that help in uncovering patterns, correlations, and trends that might not be immediately apparent. The ultimate goal of data analytics is to extract meaningful insights that can inform strategic decision-making and improve business outcomes. Different Methods Used in Business 1) Descriptive Analytics What it is: Descriptive…