Millions of people these days are trying to establish their startups despite having a simultaneous regular job only to make sure that their total gross income is enhanced. A startup of any magnitude is a great independent source, of increasing your income, and if you can establish the business well, you can also take it up as full-time work and ensure that your source of income through the startup is stabilized.
According to a survey, 90% of startups fail. The basis of any startup is the capital investment, and if you are trying to establish a business, there would be a certain amount of loan that you would have to get. The startup usually has a higher risk of falling victim to bankruptcy. There are different types of loan policies, and then there is a chance of loss at the startup, and hence the chance of bankruptcy also increases.
Main reasons for business failure among startups worldwide in 2021
In this article, we will talk about the steps that can be taken to avoid the bankruptcy of a startup. So, let’s take a look at it.
You may wonder what you can do to make sure that the profit is high while all kinds of expenditures are well managed. There are different types of expenses associated, and when you have a thorough understanding of these, you can easily plan your expenses well.
Here, we are going to guide you regarding budget management for any kind of startup as well as how to ensure that you can avoid bankruptcy no matter how many loans you have to worry about. There are many aspects of the expenses associated with the startup and when you have a clear conception of them planning the budget for your company becomes easier. The chances of failure of your startup lessen. You would also be able to take the help of the finance department for better planning too.
An Expense Management Software
Expense Management Software is another option that helps businesses, big or small, keep track of their expenses. They let businesses manage their spending, prepare budgets, manage various expense-related reports and do much more seamlessly which helps save much time.
Careful Planning of the Month
You may have different requirements every month, but when you have a proper plan about the expenses you would incur and stick to it, it becomes easier to understand how much you save as well as control the expenses as well. Plan the next month’s schedules and the possible expenses ahead of time and then try and follow the schedule to ensure that you are getting the best possible output from your company at the minimum expense.
This way, you would be able to keep track of every expenditure within the startup as well as have proper control over them. This is essential to make sure that your business can maximize the profit and hence paying off the loans would become much easier.
Secondary Income Source Till the Business is Stabilized
If you have a regular job or any other source of income apart from the startup, then do not let them go unless your startup is stabilized and is fetching home a good turnover. This would ensure that you have some other option to manage the debts when your startup fails and you are suffering loss.
If you do not have a secondary income source, you can as well look for it so that there is an alternative to handle your finance when there is any loss at the startup. Any of the family members too can join a regular job and together, you can pull the income and ensure that you have enough money to ensure complete security on the financial front despite paying for the debts.
Cutting Out the Optional Expenses
When you are trying to find out the different types of expenses that your startup has, you will discover several expenses that can be avoided or can be substituted with a cheaper alternative. Make sure that you are cutting them out and saving money.
It may seem less, but over time the amount that you have saved from such minor sources would be the reason why you can pay off your debt easily, and this is elemental to make sure the startup does not go bankrupt. This is a significant risk that people in business are afraid of and this is why many are apprehensive about establishing a business of any kind at all. The risk factors are often considered too high and simply not worth it.
Debt Settlement Lawyer
A Digital Banking and Lending Platform
Every startup and seasoned business needs a debt settlement lawyer for any relevant legal advice. You can hire a lawyer permanently, and he or she would be able to handle all your debt troubles for you.
The lawyer will help you with paperwork, and make the loan process quick and easy. They can help you get loans at a lower interest rate.
Conclusion
The failure rate of Startups is very high. Only a few remain in operation after a year or later as they have to shut down mainly due to bankruptcy. Proper management of expenses, settling debts, having secondary income sources, cutting out the extra expenditures, and hiring a professional lawyer can help you avoid bankruptcy.
FAQs
What can I do to avoid bankruptcy?
You can avoid bankruptcy of your company by:
Cutting excessive spending
Managed and planned Expenditure
Earning more profits
Settling debts
Using professional help
Do bankruptcies hurt your credit score?
Yes, your credit score can be hampered by bankruptcy as it will remain in the credit reports. This might change the way the lenders see you and it might result in them being unwilling to loan you.
What are the three most common causes of bankruptcy?
Running out of cash, not having a market need and getting outcompeted are the three most common causes of bankruptcy.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by MindTickle.
For anyone who is in the selling business is aware of how the world of sales is ever-evolving. In a competitive world like this, it is even more important for the sales team to be on their toes to keep up with the changing demands of the modern sales cycle.
Companies always need to be sales-ready, in other words, they need to embrace sales readiness programs to keep up with the rapidly changing market. In addition, businesses should have a comprehensive sales readiness strategy that includes all the solutions that would help them give an insight into what’s happening in the market, thus helping them maintain their revenues and other expenses.
To make things easier for such companies, MindTickle comes to the rescue. Founded ten years ago, Mindtickle is a sales preparedness platform that offers onboarding, product training, coaching, and continuous readiness services to aid thriving firms to become scalable and give them successful sales team and partner preparation.
Check ahead all the details that cover about MindTickle’s journey. Read about its startup story, its founders, competitors, business and revenue model, acquisitions, and more in this article.
Established in 2012, Mindtickle acts as a sales readiness platform by assisting revenue executives at world-class firms such as Johnson & Johnson, Splunk, and Wipro in preparing for revenue growth by boosting knowledge, pinpointing desired sales practices, and responding to change.
Mindtickle provides on-demand online training to the company’s sales team with mobile updates, coaching, and role-playing with a data-driven strategy, accelerating time-to-productivity, and assuring consistent execution by resulting in sales effectiveness. It assists world-class organizations in increasing income by widening knowledge, recognizing optimum sales practices, and adjusting to change.
The company is best known to offer sales enablement programs and training. This software by Mindtickle is designed to improve the overall engagement of the team with AI-driven reinforcement and practice exercises which helps them to train and develop their skills. The platform also helps organizations to map out revenue outcomes through specific skill sets.
This San Francisco-based company is used by dozens of Fortune 500 and Forbes Global 2000 firms to define excellence, generate expertise, align content, assess performance, and improve behavior across their sales groups.
Due to its technologically advanced sales readiness platform, most of the top industry experts identify Mindtickle as a market leader. Even G2 ranks Mindtickle as the No. 1 corporate software product.
Mindtickle has a footprint in over 115 countries since its clientele has branches all around the world.
MindTickle – Industry Details
As the usage of the internet and online conferencing software grows, especially after the pandemic era, the demand for software is also rising. The software industry remains one of the fastest-growing sectors as compared to other industries. As a consequence, the software industry market size was estimated to be $389.86 billion in 2020, and it has only grown since then. This industry is anticipated to grow at a CAGR of 11% from 2022 to 2030.
The market size of software development is vast and is only getting bigger and better with each passing hour.
MindTickle – Founders
Mindtickle is founded byKrishna Gopal Depura, Deepak Diwakar, and Nishant Mungali.
Krishna Gopal Depura
A student of IIT (Roorkee), and ISB, Krishna Gopal Depura is the CEO and co-founder of Mindtickle. Before launching Mindtickle, he was the Director of Product Management at PubMatic. Besides this, Krishna has worked in many organizations in handling important and strategic decisions. He has worked with notable corporations and startups such as Microsoft, Tejas Networks, and Infinera.
One of his biggest thrills is knowing that Mindtickle’s clients are successful and pleased and that the company is a market leader in the sales readiness platform.
Deepak Diwakar
One of the co-founders of Mindtickle is Deepak Diwakar. He is in charge of the technology and operations of the company. After completing his graduation from IIT, Bombay, Deepak began his career as a software developer at PubMatic, where he worked for 3 years. His main operation is to establish the company’s technology direction and guarantees that its services are secure and dependable. He also manages operations and collaborates with Mindtickle’s worldwide staff to meet the company’s objectives.
Nishant Mungali
Nishant Mungali looks after the product strategy at Mindtickle. He is a seasoned user experience and designs professionally. With a keen interest in UI and UX, Nishant is most fascinated with usability and providing Mindtickle’s clients with the best user experience possible.
Nishant gained his bachelor’s degree in Communication Design from IIT, Guwahati. He began his career at PubMatic and then moved on to D.E. Shaw & Co as an Interaction Designer.
MindTickle – Startup Story
Before the start of something great, there is always an inspiring story of those who worked hard to make it big. Such is the story of Mindtickle’s startup story. The three IIT graduates started the company from the scratch in the late months of 2011.
The founders have shared that when Mindtickle was initially started, it was very difficult for them to even get 4 clients for its new readiness platform.
MindTickle’s three co-founders experimented with gamification for the first time in 2006. They formed a group called ‘TeraMeraIdea,’ which brought students from all across their campus and the world together to participate in fun activities through the internet. They started conducting activities like quizzes and puzzles on various topics and NGO-related activities. They even took to Facebook to attract a lot of traffic. Further investigation revealed that this is where they saw success and came up with Mindtickle.
MindTickle previously focused solely on employee engagement across various businesses. When the three saw that the requirement for staff learning was not being met, they decided to turn their attention to learning as well. After a certain point, the company gradually changed its attention to an effective learning platform while maintaining the insights learned from the engagement trials.
MindTickle – Mission and Vision
Mindtickle has values that they strive to live by:
Give Delight to its customers
Act like founders
Better Together
MindTickle – Name, and Logo
The word mind tickle means ‘anything that makes a person laugh’.
The reason the founders named their company Mindtickle is when they initially developed an engaging gaming platform with an unusual approach, they wanted to give people a rare experience that would help their customers learn while receiving rewards for their successful learning.
MindTickle – Business & Revenue Model
As mentioned in the above points, Mindtickle operates by offering various sales readiness solutions to top business companies. Therefore, its business model is B2B. Its business model can be further described as a developer of a data-driven sales readiness platform to enhance business impact across pre and post-sales teams.
The majority of the business operations of Mindtickle involve a sales readiness platform with the following other services:
Sales Content Management: This software by Mindtickle helps to align content and revenue with its integrated sales readiness platform, which allows organizations to access their team’s content, collaborate, and track their other content in the funnel.
Sales Enablement and Training: With the help of AI-driven technology, the sales team can up their onboarding level through gamification and microlearning tools and train them to reach their goals.
Sales Readiness Index: This Readiness Index by Mindltickle empowers the revenue teams with the assistance of AI-based benchmarks and tools that will allow them to analyze, report, and match with their representative’s behavioral approach.
Personalized Sales Coaching: Mindtickle’s personalized sales coaching is what the name suggests, that is, it offers a completely flexible and personalized coaching experience to representatives to address their strengths and weaknesses. It provides a hybrid coaching system either through in-person, virtual, peer-to-peer, or even self-coaching.
Sales Enablement Analytics: This platform allows organizations to gather insights into sales performance, which is designed for everyone, such as sales leaders, managers, and trainers to give them an understanding of how training and other enablement programs have impacted the entire team’s productivity. The dashboards on this platform give them the liberty to build reports and even export to any BI tool for centralized reporting.
Mindtickle’s sales readiness platform generates most of its income through automated training paths, and by offering learning modules to top industries like financial services, HR, manufacturing, technology, tourism and travel, life sciences, etc. Mindtickle’s clientele includes companies like; Menemsha Group, Data Axle, Johnson & Johnson, Juniper Networks, ChowNow, PureCars, Pricelabs, Cipla, Factomart, etc.
MindTickle – Product/Solutions
Mindtickle is a leader in the market for providing ample sales readiness solutions. Its solutions help organizations focus on their team’s sales training and coaching needs.
Mindtickle offers the following solutions for the revenue team to set goals, and create a coaching environment for them to improve long-term performance. There are:
Mindtickle sales readiness solutions for the sales team are:
Sales Onboarding
Managed-Led Coaching
Sales Training
Sales Kickoffs
Partner Enablement
Account Strategy and Review
Voice of the Customer
Mindtickle sales readiness solutions for the entire team or organization are:
Sales enablement professionals
Sales leadership
Frontline sales manager
Sales and revenue operations
Mindtickle Copilot
The launch of Mindtickle Copilot was announced on August 24, 2023 by Mindtickle. Copilot, an artificial intelligence-based platform for revenue organizations, makes it simple and quick to assess team performance.
MindTickle – Funding, and Investors
MindTickle has raised $281.3 million in investment over seven rounds. Their most recent fundraising came in the form of a Series E round on August 5, 2021. The company is backed by a total of eight investors. These investors are; Qualcomm Ventures, Norwest Venture Partners, Canaan Partners, NewView Capital, SoftBank Vision Fund,
New Enterprise Associates, and Accel. The funding details are:
Date
Funding Round
Amount
Investors
August 5, 2021
Series E
$100 million
SoftBank Vision Fund
November 16, 2020
Series D
$100 million
SoftBank Vision Fund
November 16, 2020
Debt Financing
–
–
July 29, 2019
Series C
$40 million
Norwest Venture Partners
December 12, 2017
Series B
$27 million
Canaan Partners
November 19, 2015
Series A
$12.5 million
New Enterprise Associates
October 10, 2014
Seed Round
$1.8 million
–
MindTickle – Awards and Achievements
As the market leader in the sales readiness platform, Mindtickle has won some awards which are listed below:
Mindtickle has been recognized in the Top 50 Enterprise Products
& Sales Products in 2022.
Mindtickle has been listed in the Top 100 Software Products & Highest Satisfaction Products in 2022.
Mindtickle has won the Best Customer Support Award in 2021
Mindtickle has won Bronze 2020 Stevie Winner for Sales & Customer Service
Mindtickle has won the Sales & Marketing ‘The Sammy’ Technology Award 2020
MindTickle – Competitors
Some of the top alternatives to Mindtickle are:
LevelJump
SalesHood
Allego
SAP
Highspot
Clearslide
Salesforce
Showpad Coach (formerly LearnCore)
Brainshark
Gong
Chorus.ai
Lessonly by Seismic
MindTickle – Future Plans
Mindtickle recently announced that it has partnered with Baker Communications, Inc. (BCI), a sales transformation company to strengthen its sales productivity. With the help of this partnership, Mindtickle plans to provide a sales excellence joint solution that will alter the way firms assess, benchmark, and develop the selling talents of every customer-facing person. Their goal is to favor organizations to identify, develop, and integrate core selling competencies and tools to be sales-ready.
FAQs
What does MindTickle do?
MindTickle provides on-demand online training to the company’s sales team.
The fashion industry is no more about just making and selling clothes. Anybody who thinks they’ll set up a good-looking website, put tons of choices, and hope that customers will follow is living in La La Land.
It doesn’t work like that anymore. The fashion industry is leveraging the latest advancements in technology to boost sales and clientele. Social media is flooded with DIYs, small fashion brands, and fashion giants so it’s safe to say that the market is booming with options for customers.
Projected Revenue of the Indian Fashion Industry from 2017 to 2027
Brands are shifting towards AI to make their voice heard and stand out from the clutter. AI will be an inseparable part of our life. Predictions show Revenue of the Indian Fashion Industry will grow 16.32% annually (CAGR 2022-2027) to reach $39.42 billion by 2027. From automated messages to attention-grabbing notifications, from suggesting sizes to customers to building preferences, fashion brands all over the world are using AI to their benefit.
Here’s how AI is being used in the Fashion Industry:
Demand and Supply Projection
Brands like H&M are sitting on huge amounts of unsold clothing that will lead to lost money. This happens because nowadays brands focus on producing bulk clothing as per the latest trends which go out of fashion swiftly, making room for new trends and thus, production of more new clothes. This costs brands a lot of money and also contributes to wastage.
Brands are now using AI to predict sales according to trends, product type, color, price, and range factors. This is helping brands minimize the extra product and generate increased revenue as there is less money wastage. Returns are also reduced due to smart prediction of demands.
Automated Clothes Sorting
AI Robots used for Sorting Clothes
Sorting and arranging clothes can be a difficult task as it requires labor and time. Most warehouses have people doing it for you and they cannot work 24/7. It is also costly and ineffective. Therefore, big brands like GAP are testing AI to sort clothing for you according to size, color, or preferences that can be just put into a box and shipped to your house via a drone. Through deep learning, the robot can be trained to handle fragile items like sunglasses more gently than jeans.
Malls and stores are being monitored by a camera that tracks the product that is out of stock. They can automatically inform the manufacturer about the shortage. To make it even more efficient, the functioning is such built that they scan data to confirm whether the same product is lying in some other store and being sold so that it can be brought to another store. This reduces wasteful manufacturing and saves money.
Designing Clothes
Use of AI for Designing Clothes
Yes, you read that right. Your clothes might be designed by a robot rather than a human. Popular online fashion retailers like Amazon and Myntra are using AI to generate designs for clothes.
One of the brands on Myntra, Moda Rapido, sells clothes designed by robots. They take inspiration from data about customer preferences and social media trends. Fascinating right? We thought we are far from robots and here they are designing clothes for us.
AI is making the lives of fashion retailers easy by providing them with sorted data as per the likes of the customers. Earlier, we would see the clothes and find out what works for us but now, we get recommendations of clothes that we might like. This is done by AI by carefully analyzing previous orders and finding out color, style, and size preferences.
Conclusion
AI is changing the future of the fashion industry for the better. It is proven to be more sustainable, cost-effective, and user-friendly. But they will also cost many employees their jobs, not only in the lower posts but also as designers. Let’s see if robots can be great designers. For now, it can be concluded that we are much closer to the age of robots than we’d like to think.
FAQs
How AI is used in the fashion industry?
AI is used in the fashion industry to help improve the efficiency of manufacturing processes. AI systems are also used to spot defects in the fabric.
Which industries use AI the most?
Healthcare, Education, and Marketing are the sectors that employ AI the most.
Can AI design clothes?
Fashion designers are increasingly using artificial intelligence to design clothes as a tool for innovation.
How can Machine Learning be used in fashion?
Machine Learning uses existing fashion trends and customer data to produce a model to fit the market need. It boosts the design process.
Imagine being able to control the lighting of your room, your TV, washing machines, and fridge, and locking and unlocking doors too with the help of your smartphone. Technology is moving at a very fast rate and the internet of things also known as IoT is connecting more and more devices than ever before.
Amazon’s Alexa, Google Assistant, and Apple’s Siri are already a part of IoT. Tech startups and established enterprises are linking devices to operate together making it user-friendly.
Connecting every machine to the internet is what IoT stands for. Predictions show IoT revenue in India will reach $1,527.00 million by 2027 with an annual growth rate of 10.14% (CAGR 2022-2027). In global comparison, in 2022 US will generate most of the revenue, i.e., $4,761.00 million. According to a Zinnov report, India’s IoT investments are projected to reach $436 billion by 2026. Intel, Texas Instruments, Telit, Gemalto, Infosys, IBM, and Wipro are the major contributors in this field. “The future is already here. It’s just not evenly distributed”.
Projected Revenue of IoTs in India from 2016 to 2027
Most of the revenue is from Smart Home Technologies, and the rest is from Finance Technologies. With more than 100 smart cities and digitization campaigns by the Government of India, there is a gargantuan requirement for ubiquitous connectivity to enable seamless communication between machine-to-machine (M2M) and machines to humans.
It will be a dream come true for Indians when your home knows you’re not there, locks your doors, and sends you a message to let you know. We are very close to a world where a smartphone is ready to make our life easier. In this article, we are going to talk about the top IoT startups in India.
With a revolutionary idea of offering end-to-end dairy technology solutions, this Bengaluru-based Stellapps was founded by two IITians – Ranjith Mukundan and Venkatesh Seshasayee in 2011 and incubated by IIT Madras. The startup develops and acquires comprehensive farm optimization and monitoring support solutions to assist dairy farmers and cooperatives to maximize revenues with the least amount of work. Stellapps had even managed to raise funding from Blume Ventures, Flipkart, and Venture Highway. They have successfully set up the world’s largest community milking parlor.
Zenatix
Founder
Amarjeet Singh, Rahul Bhalla, and Vishal Bansal
Founded in
2013
Headquarters
Delhi
Zenatrix Homepage
Machine Learning course becomes very handy if one wants to enter the field of AI and IoT. Using advanced ML models, Zenatix provides awesome energy savings for huge commercial consumers of electricity. This Delhi-based startup was founded by Amarjeet Singh, Rahul Bhalla, and Vishal Bansal in 2013. The startup’s offerings include Wattman and Wattman Lite which helps to reduce 30% of electricity consumption. Zenatix had raised about $1Mn Pre-Series A funding led by Pi Ventures.
Smartron
Founder
Mahesh Lingareddy, Narsi Reddy Posham, and Rohit Rathi
Founded in
2014
Headquarters
Hyderabad
Smartron Homepage
Smartron was founded by Mahesh Lingareddy, ex-Intel and co-founder of Silicon Valley startup Soft Machines, along with Narsi Reddy and Rohit Rathi in 2014. The startup provides an intelligent connected platform TronX that offers high-level customized experiences, services, and care through internet-connected smart devices. TronX allows you to converse and control the normal gadgets at home like TV, AC, fridge, and even doors and windows get controlled with gestures, touch, and voice. Sachin Tendulkar is the brand ambassador of the startup.
CarShop
Founder
Rohan Vadgaonkar, Pushkar Limaye, Urmil Shah, and Prathamesh Joshi
Founded in
2015
Headquarters
Mumbai
CarShop Homepage
CarShop (previously Carsense) is on the list of the top IoT-based startups in India with the idea to offer car diagnostic solutions. It is a Mumbai-based startup earlier known as Carnot, founded by 4 IITians Rohan Vadgaonkar, Pushkar Limaye, Urmil Shah, and Prathamesh Joshi in 2015. The startup is deciding to enter into the space of car security by working on GPS, accelerometer, gyroscope, and Bluetooth. It plugs into the OBD Port, while its easy-to-use software app ensures that the electronic systems inside a user’s car (in modern cars, everything comes under electronic systems) are in working order. Once integrated into the system, it can be used to monitor the car to ensure its safety, send alert signals in case repairs are required, give insights into the car’s fuel economy, and more.
AerX Labs
Founder
Sumit Rishi, Kartavya Mohan Gupta and Priyank Sharma
Founded in
2015
Headquarters
Bengaluru
AerX Labs Homepage
With a concept to modernize the avionics sector, this Bengaluru-based startup makes professional-grade certifiable simulators for airlines, flight schools, universities, and corporates. Backed by Intel India and Bosch India, the founders of this company – Sumit, Kartavya, and Priyank are now working on assessing the risk behaviors for pilot training.
TerraBlue XT
Founder
Rajlakshmi Borthakur
Founded in
2015
Headquarters
Bengaluru
TerraBlue XT Homepage
The only sector that needs to be fully integrated with modern technology is the medical/health sector. All the dangerous diseases like Cancer are curable just because of the modern solutions. Rajlakshmi Borthakur founded TerraBlue XT which connects patients, caregivers, doctors, and hospitals with a common thread. Backed by the Government of India’s Department of BioTech, the Karnataka government’s Dept. of ITBT, neDFI, birac, and the IIM Ahmedabad Entrepreneurship Cell, the startup is all set to disrupt the Indian IoT sector.
CavyIoT
Founder
Vilas Khade
Founded in
2019
Headquarters
Aloka, Maharashtra
CavyIoT Homepage
CavyIoT is a company that provides IoT services that helps you in connecting your device to the cloud. With the help of the company’s services, one can manage their IoT devices from anywhere. CavyIoT was founded in the year 2019 by Vilas Khade and the headquarters is situated in Akola, Maharashtra, India.
Facilio
Founder
Krishnamoorthi Rangasamy, Prabhu Ramachandran, Rajavel Subramanian and Yogendra Babu
Founded in
2017
Headquarters
Greater Atlanta Area, United States
Facilio Homepage
Facilio is a management software that takes the help of IoT to manage any kind of building maintenance and operations. This company helps real estate owners and operators to control and manage building operations from one place with the help of this system. The startup was founded in the year 2017 and since then has been serving as one of the most popular systems that manage real estate operations.
Flutura
Founder
Derick Jose, Krishnan Raman and Srikanth Muralidhara
Founded in
2012
Headquarters
Houston, United States
Flutura Homepage
This AI-focused company whose main aim is to improve two objectives of a business and that is Asset Uptime and Operational efficiency. The company has chosen the service of IoT to manage machinery manufacturing in the heavy engineering industry. The company was founded in the year 2012. With the help of the IoT system, Flutura is on its way to becoming the No. 1 IoT platform for industrial companies that are powering new business models.
Detect Technologies
Founder
Daniel Raj David, Harikrishnan Arangali Shaji, Karthik Rajasekaran and Tarun Mishra
Founded in
2016
Headquarters
Chennai
Detect Technologies Homepage
Detect Technologies is a popular and leading AI-based SaaS company that provides IoT technology to increase industrial productivity. The company was founded in the year 2016. The company also includes the services of asset monitoring, predictive maintenance, and other AI solutions. It deals with the sectors of construction, steel, metals, and chemicals. It serves different fortune 500 companies.
Conclusion
IoT is taking over the world and India is no different. Companies and organizations from different sectors are transforming with the help of IoT. With time, the potential of IoT will be limitless, and it will help connect globally. In the future, we will be surrounded by smart cities where IoT will play an important role.
FAQs
What is IoT technology?
The Internet of Things (IoT) is the concept of connecting any device to the Internet and other connected devices. The IoT is a giant network of connected things and people all of which collect and share data about the way they are used and about the environment around them.
How is the Internet of things used?
The Internet of Things (IoT), also sometimes referred to as the Internet of Everything (IoE), consists of all the web-enabled devices that collect, send and act on data they acquire from their surrounding environments using embedded sensors, processors, and communication hardware.
Where is IoT used?
IoT devices can be used to monitor and control the mechanical, electrical, and electronic systems used in various types of buildings (e.g., public and private, industrial, institutional, or residential) in home automation and building automation systems.
What is the future of IoT in India?
As per a joint report by FICCI and Ernst & Young, the APAC region is forecasted to become the largest global IoT region in terms of both connections and revenue by 2025 with India expected to have 5 billion connected devices by 2022.
A new year’s resolution is a kind of promise a person makes to bring change. Not just individuals make new year’s resolutions for themselves, but business owners do it for their businesses too. In 2022, They had taught us many things, the new normal followed by the pandemic is the ultimate truth now. To be prepared for the future and how to manage all things, especially in business. So all businesses want to make 2023 better and the requirements for the organization.
There are so many new year resolutions every entrepreneur should make so that they can see great growth in their respective businesses. Resolutions can be goals you want to accomplish over a short period (short-term goals) or goals you want to accomplish over a year or many years (long-term goals).
The end of the year is the time when all businesses set up a plan for the next year and fill the gap that is not covered in the past year. In this article, we will talk about some new year’s resolutions that every entrepreneur should make for the success of their business. So let us get started.
Time management means prioritizing things for one’s life and activities. By doing so, you can reduce your stress. The main goal of time management is to be productive. When you are aware of what you need to do, you can better manage your workload. Forgotten items, details, and instructions always make us do extra work.
We often talk about time management in our daily life. But do we really know what it really means? When you manage your time, It means you are prioritizing your tasks. So that you can create more time for other things in your life.
Being on time and working produces great opportunities. By being on time, you are able to start meetings and projects, and your workday is properly managed. Discipline helps you to manage both your time and tasks. It helps you to separate emotions from your tasks. When you are away from your emotions and worries. That is when you perform well.
Initially, start with small goals that are part of a bigger goal. Most bosses and companies make blunders by giving unrealistic targets to their employees, but that always backfires and reduces the productivity of the employees.
Expand Your Business
Growth and expansion are key goals for almost all entrepreneurs. Growing your customer base is important for business success. Most businesses target their sales and marketing efforts to specific customer markets based on demographics like age, gender, location, interests, activities, and values. The idea is to market and sell existing products and services.
Social media is a powerful tool to promote your business to potential customers and gain valuable insight. Analyze new opportunities in business. One of the best and most effective ways to grow a business quickly is to build an email list. Many entrepreneurs find initial success in copying a competitor’s business model. But it is not a healthy practice in the long term. It is about making your presence everywhere possible. However, quality should not and must not be compromised over quantity. So select online platforms carefully apart from your website.
It is said that in the 21st century, one skill that requires the most and will be relevant is the ability to inspire others. Personal value is like a magnet that attracts all good things into our lives—the greater our value, the greater our reward. Since the solution to having more is becoming more, we must be in constant search for new ways to increase our value. When you work for yourself, you inspire others by your action and not by words.
Work on your Health
Search volume of “Gym near me” spikes near January every year
Entrepreneurship is always considered a demanding job. Being a businessperson is a hectic job on earth, but so is our health. When we consider the word ‘health’, we think we have to join a gym or go 10 or 20 miles running or lose weight.
However, health means balancing one’s life physically, emotionally, and mentally. In terms of physical fitness, we can follow the WHO recommendation of 10,000 steps daily for adults and for mental and emotional beings, and we can do yoga, meditation, or deep breathing according to our schedule.
Secure Your Business
Protecting your business against losses means securing your employees, customers, building, equipment, and revenue-related assets. According to CBS, over 80% of businesses have reported that their systems have been hacked. Security cameras and other technologies can also help protect your company from harassment or performance issues.
The first and most obvious security investment to make for your business is to install surveillance cameras. Modern business is almost impossible without a network where data is kept and shared among employees. If you have employees, keeping accurate records can greatly improve your payroll accuracy and reduce the risk of overpayment.
A recent Gartner study found that 90% of companies that suffer major data loss close within two years and that 80% of business owners have no plan to protect their data.
Lead Through Crisis
“During a crisis, your goal is to reduce loss and keep things operating as normal as possible.”- Gene Klann
The Coronavirus pandemic is a reminder of how rapidly things can change for businesses. When you are in a crisis, most people are terrified and unfamiliar with the situation. Effective leaders can remain calm and maintain a sense of perspective.
Organizational leaders faced the current coronavirus (COVID-19) pandemic and associated disruptions in the global economy. Sustainability is going to be a major challenge for a large number of businesses.
To overcome this crisis, it is always advised to think about the long-term rather than the short-term. However, you need to plan and work for small-term goals, which will be part of your end vision.
Important steps to lead through a crisis:
Connect as a human.
Stay on top of the information.
Act Responsibly.
Choose people over profit.
Leaders can prepare their organization to deal with the crisis by acknowledging it.
Do not try to control and manage everything. Let things take their own turn.
Make yourself available to your employees and people. It is the most important thing to do in a crisis.
Addressing your feelings and needs is as important as taking care of others.
Decisions like to act or avoid may come at a greater personal cost. Remember the saying by Simon Sinek, “Leaders eat last.”
Flexibility in thinking is crucial while dealing with any crisis.
Work-Life Balance
There is a difference between work and life, which, for entrepreneurs, is rarely true. Deciding when you are available can be much easier than deciding when you are not available. It is hard to inspire and enroll others when you are not healthy. Be “you” in every situation. You should have less stress, more peace, and more harmony in your whole life.
By doing meditation, anxiety, focus, and productivity will be improved. During your working hours, make yourself readily available by phone to your customers. After working hours, communication via phone should only be allowed in an emergency.
Making time for yourself and your family makes for a better personal life, and it also gives you the time you need to reenergize so that you are at your fullest potential when you are working. The most important thing is to learn and grow from mistakes so that you can change what needs to be changed to help you, and your relationships.
Learn Something New
Learning new things has its own set of advantages which brings success and helps you become a better version of yourself. Whenever you make up your mind to take up something new, you get to know different people which helps you get a better idea of life. You can always grow, increase your knowledge base, and improve your skills to better yourself. Developing a new skill will influence the way you do things daily today and it will make doing things quicker and easier, saving time, energy, and stress.
Reading books can be a boon for entrepreneurs. Reading not only supplements us with knowledge and information, but it also increases our focus and analytical skills. On the other hand, a bunch of books on entrepreneurship or critical problem-solving will put you much ahead of your competitors.
Learning new things makes things interesting for you.
When you learn something new, your mind’s horizon and your perception change.
Join New Networking Group
Whether you are interested in strengthening your network or furthering your, career professional networking organizations can be a great option for you. Professional organizations can enhance your personal and professional development and provide endless networking opportunities. Being part of a networking group gives you a great chance to discuss ideas with your friends and associates.
Network groups are a useful source of strong referrals that can boost your business. Professional organizations sometimes offer courses, seminars, and lectures to keep themselves and their members up to date on the latest industry innovations, research, and trends.
As Pablo Picasso said, the true meaning of life is finding your gift and the purpose of life is to give back to the community where we come from. Whatever we earn, not only in terms of money but in every realm of our lives. We should try to distribute to others; that is the way the universe works.
Conclusion
New year resolutions are just a way to give an ultimatum to yourself to fulfill all your short-term and long-term goals. The concept of a New year, a brand-new beginning is taken here and business owners often use this to push themselves to make their businesses bigger and better. The above resolutions are important for every business so that they can enjoy the taste of success.
A visitor once visited Nobel Prize winner physicist Niels Bohr and, having noticed a horseshoe hanging above the entrance, asked skeptically if the professor believed horseshoes brought in good luck for him. “No,” Bohr replied with a smile; “However, I am told by the sender that it brings luck even to those who do not believe in it.”
The above-quoted line “that it brings luck even to those who do not believe in it” is the perfect fit for new year’s resolutions as well. They work for those people as well even if they do not believe in it.
FAQs
What are New Year’s Resolutions?
New year’s resolutions are good practices and new changes one wants to implement in the new year and continue throughout the year.
What are some resolutions entrepreneurs make every year?
Some of the resolutions that entrepreneurs make are:
We are all tired of seeing ads, pop-ups, and banners every time we visit a website.
The ads distract us, and sometimes they are so many that the page becomes unreadable.
Although today, I will tell you a solution that will put an end to all these annoying ads.
Since most of you might be using Chrome you can install the extensions mentioned below to block ads.
Keep reading this article to know about the top 5 chrome extensions for ad blocking that you can install for an ad-free browsing experience.
(Note: The prices of the extensions keep changing, so the price that we have mentioned below might change by the time you read the article. To get an accurate pricing model visit their official website)
Since AdGuard has the largest tracker filter lists containing more than 10,000 rules it will block most of the third-party tracking systems, spyware and adware.
If you visit any of the malicious and phishing websites it will warn you.
It increases page loading speed and saves bandwidth.
All the social media widgets can also be removed using the ‘social media filter’.
Pros:
Blocks the majority of the ads and trackers.
Malicious and dangerous websites are blocked as well.
Blocks most of the known crypto-jackers including CoinHive.
With its ‘element-blocking’ feature, you can block any element on the page.
Cons:
No support for live chat.
To access more advanced features you need to buy their premium plan.
Ghostery
Extension Name
Ghostery – Privacy Ad Blocker
Ratings
4.6
Users
2,000,000+
Pricing
Free for Chrome, Pricing starts from $4.99/month
Ghostery Extension
Ghostery is open-source software that takes ad blocking to the next level.
It blocks all the different kinds of ads, stops trackers and loads your website a lot faster than before.
Features:
Blocks ads that steal your personal information and de-clutter your page.
Clicks you out of all consent dialogues in favor of never tracking.
Ghostery x-rays the websites that you visit and shows you all the hidden trackers.
Block or unblock individual trackers.
The dashboard gives you all the insightful information regarding ads and trackers.
Websites load faster.
Works with Chrome, Firefox, Opera, Safari, and Edge.
Pros:
Intuitive user interface.
To protect your privacy its AI-driven technology neutralizes the trackers and gives them random numbers that restrict the data collectors to know your actual identity.
The dashboard gives you a detailed analysis of the trackers.
There are dedicated apps for android and iOS devices.
You can listen to your favorite songs without interruptions on Spotify, SoundCloud, or YouTube Music.
Most website owners use anti-adblocker detection to restrict people to use ad-blocking software. But, with AdLock’s anti-adblocker detection you can bypass such restrictions.
Keeps your browsing data safe by blocking third-party trackers, ad/malware attacks, and all forms of online tracking scripts used by Google, Facebook, etc.
Protects you against viruses.
Increases your page loading times.
Whitelist websites that you don’t want to block or blacklist again.
Pros:
You can also block ads on video and audio streaming services like Youtube, Spotify, SoundCloud, or YouTube Music.
You can also adjust the filters that determine what should be blocked on the webpages you visit.
Cons:
The extension only works on Chrome and Safari.
The android app is not available on the Google Play Store.
The above graph shows the countries with their ad blockings usage rate in percentage.
Adblock Plus
Extension Name
Adblock Plus – free ad blocker
Ratings
4.5
Users
10,000,000+
Pricing
Free
Adblock Plus Extension
Adblock Plus blocks annoying video ads, banners, and pop-ups.
It not only blocks ads on your Chrome browser but also blocks Facebook ads and YouTube video ads.
Features:
One of the most unique and controversial features of this tool is Acceptable Ads (AA). This feature enables websites that solely rely on advertising to show you ads while maintaining a positive user experience.
Block viruses and malware that are hidden in the ads.
Keep your browsing data safe by blocking ads that track you.
It works with major browsers like Firefox, Safari, Chrome, Microsoft Edge, Opera, and Yandex.
Improve website loading times
Pros:
Easy to use.
Blocks the majority of the ads.
You can whitelist websites and allow them to show ads to you if you feel that the ads don’t harm your viewing experience.
24/7 free and consistent support.
Cons:
The Acceptable Ads (AA) feature is turned on by default but, you can turn it off.
Which One Should You Use
uBlock Origin is the best overall ad blocker.
Since it comes with dozens of customizable features and is very effective in blocking ads you can give it a try.
uBlock Origin is an open-source software which means it is constantly getting better. Plus, it is completely free to use.
So, we will recommend you to use this ad blocker first and see if it matches your needs.
If you want a comprehensive solution that can block ads, trackers, malicious websites, and even crypto-jackets then AdGuard is for you.
AdGuard is the best overall ad blocker after uBlock Origin.
Although to access its advanced features you need to opt for its premium plan.
If online privacy is your biggest concern then Ghostery is best since it is very much capable of blocking trackers and malicious websites.
So, with Ghostery your data is protected and you can enjoy a safe browsing experience.
Adblock Plus has been in the industry for many years and even today it is effective in blocking ads. You can use it for free.
Although there were rumors that top advertisers like Google have paid money to the company to show certain ads to their customers.
As you know the software has a ‘whitelist’ feature turned on by default that allows certain websites to show ads.
But, this doesn’t mean that Adblock Plus is bad software.
It blocks the majority of the ads but, you may see some of them popping through your screen.
If Adblock Plus doesn’t work for you then AdLock is also an excellent ad blocker that you can try.
It will block ads, pop-ups, and even trackers. However, AdLock isn’t free.
If you want to choose between Adblock Plus and AdLock, we would recommend you go forward with AdLock.
Before you install or buy any of the ad blockers you need to understand no ad blocker is perfect in all cases.
Sometimes, advertisements will make their way to your home screen. Advertisers don’t want to lose out on even a single opportunity to show you ads.
This is the sad reality of the world we live in.
Although if you use these extensions you’ll be able to filter out a lot of irrelevant and annoying ads.
FAQs
What are some of the most trusted adblockers?
Some of the most trusted adblockers are uBlock Origin, AdGuard AdBlocker, Ghostery, AdLock and Adblock Plus.
What’s the difference between AdBlock and AdBlock plus?
The major difference between AdBlock and AdBlock Plus is that AdBlock Plus started off as a complete adblocker tool, whereas AdBlock was inspired by AdBlock Plus and started off as an extension only.
In terms of features, feel and look they do not have much difference.
Is there a free adblocker for Google Chrome?
uBlock Origin is a free adblocker for Google Chrome.
Marketing is an integral part of any startup or business. Advertisement is a great way to promote your product and services on various platforms. It can be on a newspaper, a magazine, YouTube, or online streaming platforms like Netflix, Amazon Prime, Spotify, or huge advertisement boards around our cities. But it is crucial to create advertisements that leave a lasting impact on customers’ minds.
These advertising agencies help design and display advertisements for various brands and companies. These top advertising companies provide services in digital marketing, Facebook marketing, Google AdWords, and more across all these platforms.
In this article, we will talk about the bestadvertising agencies in India. Let’s get right into the business.
Crayons advertising’s main headquarters are based in New Delhi with many other branches all over India. The company designs advertisements mainly for television, newspapers, and radio. It is one of the largest growing creative agencies in India. It is popular for its creative advertisement.
This company has won many awards for its work including Dainik Bhaskar Ink Award, Gold in Delhi Ad Club Awards, Advertising Agencies Guild Award, and Gold for the World Heart Day Campaign in ASTER Awards. Its clients include big companies such as Lotto Shoes, Kohinoor Foods Limited, Kajaria PLY, J&K Tourism, Casio, State Bank of India, Air India, LIC, Apollo, and many more.
DDB Mudra Group
Founder
A. G. Krishnamurthy
Founded in
1980
Headquarters
Mumbai, Maharashtra
An advertisement from DDB Mudra Group
Earlier known as ‘Mudra Communications Limited’, this company is one of the top ad agencies in India or creative ad agencies in India. The company was founded in the year 1980 with only 15 employees. This company was behind the successful campaign of ‘Rasna’ with the tagline ‘I love you Rasna’ in the year 1983. The DDB Mudra Group is a leading marketing and advertising agency in India.
Some of the many awards won by this agency are: Silver for Creative Agency of The Year and Gold for Talent Development Program at the Campaign South Asia Agency of the Year and more. This company has many big clients including Pepsi, Linen Club, Colgate, McDonald’s, Puma, Reebok, and Peter England.
SocialPulsar
Founder
Ajish Nair
Founded in
2015
Headquarters
San Francisco, USA
Awards received by SocialPulsar
Originally based in San Francisco, USA, SocialPulsar is one of the best media agencies in India. It is an AI-driven agency that provides not only advertising services, but Social Media Optimization, Content Management, Brand Analysis and Management, Digital Marketing Strategy, and more services. SocialPulsar has won the ‘25 Most Influential Mobile Marketing Leaders’ award at the World Marketing Congress (WMC). It serves many big clients such as Renault, OPPO, Speak INC., Skyline, and more.
Grey Advertising
Founder
Ravi Gupta
Founded in
1977
Headquarters
New York, USA
An advertisement made by Grey
Despite being one of the best advertising agencies in India, Grey advertising is one of the world’s top advertising agencies. It was formerly known as Trikaya Grey. It is an award-winning advertising agency that also offers other services to its clients such as public relations, public affairs, sales promotions, and more. The awards won by the company include 10 Cannes Lions and a Clio. The company has served clients like Gillette, Pfizer, Eno, Sensodyne, Duracell, DELL, P&G, and more.
Creation Infoways
Founder
Satya Narayan Satapathy
Founded in
2000
Headquarters
New Delhi
Some clients of Creation Infoways
Creation Infoways is a digital marketing agency based in New Delhi that provides advertisement services across digital platforms such as Google, Facebook, and Android Applications. This company is certified by Google Partner, Germany Cert, Clutch, and Nasscom. This company provides a full digital marketing package that includes SEO (Search Engine Optimization) services, Facebook marketing, Google Analytics, etc. The clients of this company are companies such as Myntra, FIITJEE, National School of Drama, giBS, etc.
Avail Advertising
Founder
Akshat Shaligram and Avinash Shaligram
Founded in
1989
Headquarters
Pune, Maharashtra
Avail Advertising’s Work
Avail Advertising is one of the top advertising agencies in India based in Pune. It provides many advertising services such as print, audiovisuals, Search Engine Optimization, exhibitions, and event management. It has been offering services to its clients for over 25 years. Some of the clients of this company are Tata Technologies, JW Marriott, fssai, Toyota, LAVASA, and others.
Triverse
Founder
Suresh Tiwari
Founded in
2008
Headquarters
Gurgaon
Services offered by Triverse
Triverse Advertising was founded in the year 2008 by Suresh Tiwari. It is an “advertising agency” that believes in making your brand a brand of choice. This agency creates advertisements for clients across many platforms such as YouTube, TV Commercials, Radio, Print, and more.
Along with advertising, this company provides services such as Brand Strategy, Brand Marketing, Website Development, Search Engine Management, Blogging, and video content development. Some of its clients are companies such as SMC, Plumber FAUCETS, The Belmonte, Godfather, etc.
Purnima Advertising
Founder
Ashok Soni
Founded in
1994
Headquarters
Ahmedabad, Gujarat
Overview of Purnima Advertising
Purnima Advertising was founded in 1994. It is a top company in India and one of the best ad agencies in India that offer Advertising services to its clients. It also offers other services such as brand strategy, design, and media planning. This company has many clients that include government agencies such as AADHAR, BSNL, Gujarat Tourism, and Himachal Tourism and non-government agencies such as DS Group, Gits, Nirma, Shopclues.com, Sleepwell, Ching’s, etc.
Web Cures Digital
Founder
Chetan Sureja
Founded in
2013
Headquarters
Ahmedabad, Gujarat
Web Cures Digital’s PPC Management
Web Cures Digital aims to bring your local business to the top of search engines such as Google, Bing, DuckDuckGo, Yelp, and others. This company was founded in 2013 and its headquarters are based in Ahmedabad, Gujarat. It provides advertisement services along with Search Engine Optimization, Social Media Marketing, and Email Marketing. This company also offers consultancy on Search Engine Optimization, Web Development, and Pay Per Click (PPC) Management. PPC advertising is a good way of generating more traffic for your website.
Urja Communications
Founder
Prakash Chellaram Sharma and Ranjeet Nambiar
Founded in
1986
Headquarters
Mumbai, Maharashtra
Urja Communications’ Successes
Urja Communications is one of the top advertising agencies in India. It has been delivering creative solutions for over 20 years. It provides its clients with digital and email marketing and communications services. It has many big companies as its clients, some of which are: HDFC Bank, Standard Chartered, Axis Bank, Aditya Birla Capital, Jana Small Finance Bank, and many more.
Conclusion
For any kind of business, advertising is one of the prime needs, no matter how small or big it is. Advertising agencies know their work and take the advantage of every given opportunity to make the business visible to their customers and their potential customers. This way they create advertisements to establish a long-lasting effect on the customers.
FAQs
What is meant by an advertising agency?
A firm engaged in providing services of advertisements for clients to create awareness and market for them is known as an advertisingagency. These agencies involve people with specialized skills and knowledge who are well-versed in marketing, advertising, and consumer behaviour.
What are the types of advertising agencies?
Types of Advertising Agencies or list of top advertising agencies in India:
Full-Service Agency
In-House Agency
A Creative Boutique
Media Buying Service
The La Carte Agency
Special Service Agency (Group)
Commission Basis
Cost-Based or Fee System
What does a media agency do?
Mediaagencies provide consumer insight, planning, and buying skills while advertising agencies deliver brand knowledge and most creative materials such as TV ads. Media advertising agencies is an amalgamation of two different types of company that provide different advertising and marketing-related services.
What is a creative media agency?
It is a company that offers a combination of strategy, design, technology and advertising services to clients, it is creative or expert lead, it’s made up primarily of creative professionals, and it’s often strongly defined by values.
With growing internet penetration and disposable incomes, the people of India are experiencing a massive change in their shopping habits. People from all fronts are using their smartphones to buy products and items. With the big three — Amazon, Walmart, and Alibaba, entering the Ecommerce sector of India, the market is slowly maturing and expanding its footprint to the most remote locations across the country. This market for Ecommerce in India is further estimated to witness another transformation with the spread of the all-new ONDC concept that is still new in its approach and promises to make ground-breaking changes.
According to an analysis, the Ecommerce Industry in India grew from 4% of the total population in 2007 to around 40% in 2017, clearly indicating the rise of the internet era in the world’s fastest-growing economy. The growth of the Ecommerce market in India is expected to further be registered at around $188 billion by 2025. This industry would again rise to reach $350 billion by 2030, as per the latest statistical reports. This internet boom is directly proportional to the emergence of Ecommerce in India and other internet-based domains.
WIDGET: leadform | CAMPAIGN: undefined
This post analyzes the current scenario and the future of Ecommerce in India.
Projected Ecommerce Revenue of India from 2017-2027
This success story started in 2007 with the inception of India’s most successful startup, Flipkart. Initially, companies found it tough to encourage people to shop online but with advancing technology, logistics, and payment methods supported by various offers and sales, people slowly drifted to this convenient mode of online shopping. Internet penetration and easily available data, fuelled by the low costs were and continue to be the most prominent factors encouraging this trend.
Ecommerce in India is expected to touch $200 billion by 2025 from the figure of around $40 billion in 2017. The internet economy, on the other hand, is expected to hit $1 trillion by 2030, majorly riding on the Ecommerce wave. Seeing this potential, Amazon, Walmart, and Alibaba started heavily investing in India and building a strong presence. Various domestic players like Snapdeal, Shopclues, Infibeam, etc. are also a part of this organized and exponentially growing Ecommerce segment in India. Though some of them might not be standing tall enough at the present moment, they always have a chance to bounce back though. Also, as a result of the domain of Ecommerce being broad enough to nourish many other subdomains, the Indian ecosystem of Ecommerce has seen the growth of both men and successful women entrepreneurs, with many more opportunities ahead.
Growth Of Amazon In India
Annual Net Sales Revenue Worldwide of Amazon from 2004 to 2021
Amazon expanded its footprints in India by promising to invest $5 billion, and until now it has pumped in more than $6.5 billion. These investments are being used for expanding its portfolio by bringing various sellers onto its platform, building and leasing warehouses for storage, improving logistics, offering heavy discounts to acquire new customers, and foraying into new verticals like grocery and payments wallet.
In 2017, Amazon’s founder Jeff Bezos stated that Amazon’s app was the most downloaded shopping app in India. Moreover, the company’s loyalty program—Amazon prime—was adopted in India at a much faster rate than in any other country. Its international losses as of April 2018 were $622 million and the revenue was $14.08 billion, whereas a year back the figures were, $481 million and $11.06 billion respectively. Amazon.com had $469.80 billion in revenue in 2021. Amazon is also focusing on improving its smart AI-based speaker, Amazon Echo. Alexa, Amazon’s voice-controlled personal assistant, is being trained to understand and focus on the Indian dialect and vernacular languages.
Amazon now has options for Hindi, Tamil, Telegu, Kannada, Malayalam, Bengali, and Marathi on its website and app to conquer customers from tier-2, tier-3, and rural areas where English is not widely used or taught. With a growing focus on improving customer service through setting up various fulfillment centers and faster logistics, Amazon is working to counter its local competitor Flipkart which was bought by Walmart and Paytm Mall. It is going to provide drone-based delivery very soon. With its increasing investments despite heavy losses, Amazon strongly believes that today’s investment of Re 1 will yield returns of Rs 100 tomorrow.
Revenue of Flipkart Private Limited between Financial Years 2014 and 2022
On the other hand, Flipkart is a successful domestic Ecommerce player in India. Initially, it had its share of struggles in bringing sellers and buyers on its platform while dealing with the challenges of logistics and maintenance of warehouses. But with grit and hard work, Flipkart has been successful in bringing a revolution that changed the face of the startup ecosystem in India.
It was the first Ecommerce company to introduce the system of cash on delivery, being mindful of the reluctance people faced while using their cards online. It also accomplished the task of setting up its own logistics unit, Ekart, along with various warehouses for storage and faster deliveries. Just like Amazon, Flipkart’s founders also started their startup by selling books online and slowly scaled their startup to various segments. It has also acquired various startups like Myntra and Jabong in the fashion segment, and PhonePe to delve into the mobile wallet industry. As of FY2017, it held around 45% of the total market in India, with losses of about Rs 8771 crores and revenue rising by 29% to Rs 19,854 crores. Though the market share figures changed slightly, Flipkart still maintained a lead over its counterpart Amazon in terms of market share, which was reported to hold 31.9% market share over the US-based Amazon, which held 31.2% of the market share in 2020.
Flipkart also launched its smartphone segment under the name ‘billion’, and also forayed into the electronics segment under the name MarQ. It is even venturing into the untapped potential behind the furniture segment. The basic reason behind launching an in-house brand is to attain profitability; many experts say that in-house brands will ultimately become the backbone of Ecommerce. Success was not easy for Flipkart. Ideas like trying to turn Flipkart into a mobile app completely didn’t go down with customers, and there were other failure stories as well.
Flipkart was acquired by the American-based supermarket giant Walmart for $16 billion in 2018. This led to a growth in Flipkart’s valuation, which reached $21 billion. This deal was a win-win situation for both as Walmart got a 77% stake in expanding itself into the world’s new Ecommerce battleground, and Flipkart got ammunition in the form of investment and equity to counter Amazon. It eventually began to launch numerous programs like the loyalty program, and Flipkart Plus, where users are provided with free delivery and points. It also has a Flipkart affiliate program where you can become a partner and earn money. These points can be further used to redeem offers on platforms like Bookmyshow, Zomato, Hotstar, etc.
Flipkart launched its refurbished marketplace, 2gud.com, after parting ways with eBay India. With the competition getting tougher every day accompanied by growing market size, it remains to be seen whether Flipkart will be able to maintain its supremacy. No matter what, Indians will always be proud of Flipkart as it changed the way for the average Indian shop.
The third dimension of Ecommerce in India is Paytm Mall and other small players. After the fall of Snapdeal, Paytm Mall (started in 2017) was quick enough to conquer the third spot in the industry. Focusing on its Online to Offline model (O2O model), which allowed consumers to avail of online discounts and offers in Offline partner stores, it established a niche in this particular segment.
Alibaba and Soft Bank invested $356 million in the company. Alibaba took a stake of 28.34% and Soft Bank 19.86%. After this valuation of the company reached $2 billion. It reported annual gross sales worth around $3.5 billion in FY18 and earned operating revenues of $102.97 million in FY19. It reported $34.72 million in revenue from operations and a $17.48 million loss in FY22.
Short-term visions, lack of experience, and strategic setbacks led to the fall of the company. Alibaba and Ant Financial sold their stake at just $5.17 million and backed out of the company. According to reports, its valuation dropped from $3 billion to $13 million in March 2022. Paytm Mall can make a comeback through ONDC.
Another small and promising player was Shopclues, which had been successful in attracting customers from Tier-3 and Tier-4 towns, clearly indicating its difference in thinking from Flipkart and Amazon. It consisted of various small sellers on its platform, selling quality goods at a cheaper price. This business model attracted people from various rural areas who had low disposable incomes compared to their urban counterparts. According to a ROC 2018 filing, it was revealed that Shopclues’ revenue increased by 60% to Rs 180.3 crores, and losses came down by a massive 40% to Rs 332.65 crores. It also hinted at profitability in the coming quarters. However, the promising unicorn, which turned the fourth Indian unicorn startup in January 2016, led by Radhika Ghai Aggarwal and Sandeep Aggarwal, headed only towards nothing.
Conclusion
Many people from the industry feel that the current Ecommerce ecosystem in India (consisting of both the marketplace and inventory type) is less than 5% of its actual potential. With this industry growing exponentially, many small and big players feel that there are more horizontals and verticals which are yet to be explored and organized. Myntra, IndiaMart and Nykaa are among the fastest-growing Ecommerce players in India. The Ecommerce segment will be imperative in pumping up the Indian economy and boosting employment rates.
FAQs
What is the future of Ecommerce in India?
As per predictions, the Indian Ecommerce market will increase by 21.5%, reaching $74.8 billion in 2022, and it will reach $350 billion by 2030.
What is the present scenario of Ecommerce in India?
Ecommerce has transformed the way business is done in India. The Indian Ecommerce market is expected to grow to US$ 200 billion by 2026 from US$ 38.5 billion as of 2017. Much of the growth for the industry has been triggered by an increase in internet and smartphone penetration.
What is the market share of Ecommerce in India?
Growing at an exponential rate, the market value of the Ecommerce industry in India is approximately $88 billion in 2022.
Which is the biggest Ecommerce company in India?
Amazon India is the biggest Ecommerce company in India.
Simply put, Online Reputation is how others see you or your organization online. The question is, are you represented fairly?
Online Reputation Management (ORM) means taking control of the online narrative and protecting your image.
Typically, organizations only consider Online Reputation Management if a negative news cycle, cyberattack, or a wave of derogatory or false customer reviews impacts them.
With 93% of all consumers using Google to find information online, online and offline are blending, and Reputation Management is more critical than ever for companies.
Your Online Reputation is Forever
Suppose someone writes something negative about your business online. In that case, it can put your business at a severe disadvantage over the long term. You might risk falling victim to a vicious cycle of misinformation and rumors—especially if ignored.
Digital Reputation firms like TheBestReputation employ propitiatory techniques and strategies to ensure that people find suitable assets when they look for you on the Internet.
Experienced Reputation Partners can also help create balance, counteract misleading trends, and allow you to portray your business correctly.
Two Types of Online Reputation Management
Reactive ORM
Reactive ORM, sometimes called Crisis Management, is a response to a sudden wave of a vicious news cycle, mass negative reviews, or postings from disgruntled former employees. Businesses can address this by having the right Online Reputation Management partner to craft follow-up content, authoritative media coverage, and custom Search Engine Optimization (SEO) strategy.
Proactive ORM
Many organizations leverage ORM tools to scale up their business by dedicating their efforts to producing quality content, monitoring customer reviews, and ensuring their information’s accuracy across business listings.
Ask for Reviews
Reviews provide useful information, help your business stand out, and help your business profile rank better in Maps and Search.
One of the major listings that you can leverage is a Google My Business Listing. It is highly recommended to request reviews from customers by sharing a URL specific to your business. Here are some of the best practices suggested by Google:
Remind customers to leave reviews Let them know it’s quick and easy to leave reviews. Business owners should refrain from offering incentives to customers to leave reviews. You can also get customers to leave reviews if you create and share a link.
Reply to reviews to build customer trust Your customers will notice your business values their input if you read and reply to their reviews.
Value all reviews Reviews are useful for potential customers when they’re honest and objective. Customers find a mix of positive and negative reviews more trustworthy. You can always respond to a review to show the customers that you care and provide additional context. If the review doesn’t follow the posting guidelines, you can request its removal.
Manage your Social Media Profiles
Managing multiple social media accounts on different social outlets for a small business owner can be exhausting, but it could certainly help in driving high-quality organic traffic to your business.
Here are some social media management best practices:
Research your audience
Develop consistent brand guidelines
Schedule your content in advance
Audit your performance
Hiring the right agency to blend your Online Reputation Management needs, whether it is Crisis Management, Public Relations (PR), or digital assets creation, and to scale up your brand, by utilizing social media management tools, increasing organic traffic, and SEO is essential to a healthy online presence!
Workplaces are changing in so many ways that it might be difficult for experienced business leaders to keep track. One of the most important shifts in workplace trends is that of DEI, or diversity, equity and inclusion. Many business leaders are committed to supporting more employees of different backgrounds — but integrating DEI into business practices is not as simple as hiring a pack of minority talent. Before any business leader strives to move forward with DEI policies, they might pursue diversity, equity and inclusion certification. Learn more about the basics of these terms here:
Diversity
The first letter of DEI, diversity is the presence of differences within the workplace environment. Those differences can encompass all shapes, sizes and colors, from race and ethnicity to gender, gender identity and sexual orientation, to age, to socio-economic class, physical ability, marital and parenthood status and more. Workplaces that succeed in the diversity attribute of DEI will maintain teams of employees with all sorts of differences within their backgrounds.
There are many benefits to diversity in the workplace. The most commonly advertised advantage of more diversity in employment is the opportunity for enhanced creativity and innovation. People with similar backgrounds tend to think, act and feel in similar ways, which means the methods they use to consider problems and devise solutions tend to be alike. In contrast, people with some difference in their background may approach a problem with a fresh perspective and thus formulate new and pioneering solutions which can improve business performance, productivity and profits.
Of course, there is a more significant reason for companies to invest in diversity in their staff. As more companies prioritize diversity in hiring, the gaps in employment and income within our society should close. People who are often marginalized in the workplace tend to experience greater struggle in finding secure housing, affording healthy food, obtaining effective education and more. All members of a community develop the opportunity to thrive when employers intentionally integrate diverse backgrounds — and when surrounding communities are stable, businesses have more strength to grow and succeed.
Equity
The second attribute in DEI, equity, is the process of creating impartiality and fairness within a business’s practices and programs to allow every individual the same opportunity for positive outcomes. An essential component of ensuring equity within an organization is recognizing the advantages some employees might have and the barriers other employees might face on the path to success. Then, business leaders must strategically alter their processes and programs to even the playing field.
Creating true equity in the workplace requires more work than many executives recognize. Often, inequality is not the direct result of overt and malicious bias; rather, it comes from systems that have long existed to prefer certain types of people over others. It can take immense effort for business teams to recognize underlying drivers of discrimination within a business practice and develop solutions that overcome them.
However, the risks of inequity are much more severe than the cost of creating equity in a business. Inequitable systems will drive away people of diverse backgrounds, making it much more difficult for organizations to achieve the first attribute of DEI. What’s more, consumers are becoming much more cognizant of the issue of equity, and if brands do not prioritize eliminating inequity, they could suffer public backlash that makes growth and success impossible.
Inclusion
The final component of DEI, inclusion is the process of building a sense of belonging within the workplace. Organizations that achieve inclusion find a way to balance the need for professionalism and productivity with the desire of every employee to be their authentic selves. When inclusion is achieved, workers no longer feel the need to alter something about themselves when they step into the workplace; they do not try to shield their identity, code-switch or participate in other behaviors that obscure their true nature. With efforts to provide adequate comfort and support to employees of all backgrounds, organizations can achieve inclusion.
As with equity, inclusion is an essential component of maintaining a diverse workforce. Many marginalized employees will begin to feel burned out and unappreciated in non-inclusive workplaces, and as a result, they will leave in search of more inclusive employers. Thus, business leaders need to consider how their workplace cultures might shift to become more inclusive and accepting of people of all backgrounds.
DEI should not be considered merely some passing fad in employment practices. Business leaders need to think of DEI as a foundational component of their corporate culture and practices, necessary for growing into the future.
