Today, a huge number of startups are setting their foot in the industry and are conquering the world with their innovative ideas. These startups follow different types of business models. A business-to-business startup, commonly known as a B2B startup, is a huge thing in the market these days. The whole idea of a B2B company is to establish a business that caters to the needs of other businesses. According to a report, 85% of B2B marketers say lead generation is their most important content marketing goal.
However, running a B2B startup is a tough task as owners of such businesses need to look for suitable clients who require the goods or services that the company is offering. Moreover, generating B2B leads for your startup can become a hectic job and cause excessive levels of frustration. So here is our B2B marketing strategy. It will help you to generate B2B leads for your startup and proceed with their work strategies.
Business-to-Business (B2B) marketing mainly involves the vending of one company’s products and services to another company’s products and services. The goods could be used for the production of some other goods, for reselling it to the consumers or could be used in the general operations of the business.
Pre-requisites for a Business-To-Business Marketing
B2B marketing requires products for other companies. You should not just start off without even a rough idea in your mind. This will only lead to unproductive outcomes and will take you nowhere. The first thing that one should do is think about the product, its merits, and its demerits.
Several questions should come to your mind before finalizing anything.
Is my product beneficial for the company?
What would be the gain that my product/service would provide to the clients?
How much will my product/service help the clients to earn?
What are the main advantages of my product/service that make it better than the others in the market?
What efforts can be made to improve the quality of the product/service?
What is the price structure of a similar product in the market?
Conduct a thorough analysis of your products and services. Customer feedback is the best way to do this.
10 Ways of B2B Lead Generation for Your Startup 2022
Diversity
All buyers of a B2B company will have different needs and wants, so an entrepreneur must make sure that their content addresses all the needs and demands. The content should fit the shoe and not be focused on just one thing to attract buyers from all around the globe.
Stand Out
The capabilities of a startup are judged by the content that is posted on their blogs or social media websites. Hence, this content needs to be attractive with infographic inputs and strategically placed to allow buyers to find them easily. Moreover, it gives a boost up to the startup showing true data in their content which makes them trustworthy.
Pricing
It is not a common practice to post prices on the company’s website as it hinders the chances of getting many opportunities, but if the prices are not posted, most of the queries would be to know the cost but not generally buy the services. Posting prices would decrease useless traffic and allow more room to focus on potential customers. Furthermore, the pricing strategy should be decided with a thorough competitive analysis for breakthrough performance.
Relationships
Having a healthy relationship with the client’s company is extremely important for the business to flourish, thus, building a good connection will allow the business to grow through word-of-mouth marketing. Although, word-of-mouth has a different approach it has always had a high conversion rate.
Marketing
Marketing is the best way to generate leads. In today’s technology-driven society online marketing is the major contributor to an increase in sales. Services can be marketed depending upon the needs of various buyers using social media platforms, blogs, or a well-developed website. Creating an email database to send occasional newsletters to potential buyers helps in boosting the business. In other words, email marketing is a great tool to generate B2B leads for the business.
Sign up forms
Sign-up forms for the company website should not be very long as that irritates buyers. The easier the signing up process the more potential buyers will sign up and add to the business. They should contain the basic details like name, email, phone number and address but not a whole lot of information that can be asked in later stages.
Optimize the Landing Page
The homepage of the company’s website or the social media profile should be SEO-friendly. Articulating content that would attract people. Make your content in such a way that it is displayed clearly on top Google searches. Most people do not go to the second page while searching for something on Google to make sure that the website comes in the first page in Google searches related to the keyword.
Have a Q and A section
Have a FAQ section, which is clearly visible on the website, to answer the most common queries on the website for people to properly understand the services. Ask present clients about the issues they may have faced while registering on the website, collect the information and create a questionnaire with answers by the team.
Buy Leads From Various Platforms
Startup owners can also buy leads from various online platforms that are selling them. There are many sites that provide quality leads with accurate information. B2B companies should collect as many leads as possible from these sites to help them in progress.
Hire
Owners can also hire a company that specializes in lead generation or hire freelancers that can generate leads and do promotions. Hiring freelancers residing in different countries can be profitable and will help in getting leads from various different countries. It is also inexpensive in nature and provides a quality result to generate B2B leads for your company.
B2B Success Stories on Social Media
Approximately, 69% of the Indian B2B marketers agree, social media is one of the major tools to engage potential customers. Statistics regarding the success of lead generation for B2B companies using social media marketing are quite high. B2B buyers are much more attracted to brands that have a strong social presence. They prefer the companies to present the information via social media.
Some of the successful social media campaigns implemented by a few companies are:
iYogi
iYogi being a technical support company faced many difficulties in generating leads and creating brand awareness for its new service; Digital Service Cloud. The company chose LinkedIn to focus on the key areas of interest and target audience. The campaign was a huge success and helped to achieve 62% of the follower base in the duration of just three months.
Deskaway
The company chose Twitter along with paid media and Adwords for the purpose of selling its web-based team along with the project collaboration software. Product announcements, news, and blogs were shared on a continuous basis and thus, generating leads.
Conclusion
The above two examples show that social media is really an efficient tool for B2B marketers. It not only helps to increase brand awareness on a huge scale and target a bigger audience but also establishes a company as a thought leader. The company gets to connect easily with the clients and the prospects. Good relations are built with the people who can influence the industry. Social media and email marketing also trigger word-of-mouth conversations and help in optimizing the conversions for B2B companies. Keeping these important points in mind shall go a long way for B2B companies in creating a huge client base and gaining success in their business proceedings.
FAQs
What are 4 types of Marketing Strategies?
Four types of marketing strategies are:
Market Penetration Strategy
Market Development Strategy
Product Development Strategy
Diversification Strategy
What are the four types of B2B Markets?
The four basic categories of business customers in B2B markets are producers, resellers, governments, and institutions.
Is Amazon a B2B OR B2C?
Amazon is both business-to-business B2B and business-to-consumer B2C.
People have gained notoriety by accomplishing something that inspires amazement in the rest of the world. From the creation of the world’s first microcomputer through the establishment of a space research agency dedicated to the launch of numerous ships.
From political decisions to social and economic transformations, billionaires play a critical role in influencing the world. We’ve compiled a list of the world’s top 20 billionaires, who have risen to the top through extraordinary achievements.
As we all know, from being the founder of SpaceX to becoming the CEO of Tesla and also owns many titles such as the founder of Neuralink, OpenAI, and The Boring Company. Elon Musk is a force to be reckoned with in the world of technology, which ultimately made him the world’s richest person as of now with a net worth of $235 Billion.
Elon Musk began his career in 1995 when he and his brother Kimbal Musk founded Zip2, a web software company that did not succeed and went out of business in 1999.
Elon Musk founded X.com, an online financial services platform that merged with PayPal, with Musk owning 11.7 per cent of the company’s stock.
Musk’s life took a turn in 2001 when he started SpaceX with the goal of decreasing space transportation costs. SpaceX deployed roughly 34 satellites in 2021 and plans to launch 52 more by 2022.
After that, in 2004, Elon Musk became Chairman of Tesla by investing a majority stake in the company with the intention of producing electric vehicles. When questioned about his development of Tesla-electric cars, he refused to give up and backed up his assertion that electric cars are both efficient and conventional, resulting in Tesla scoring the largest market in the automobile business by 2021.
Jeff Bezos
Net Worth- $181 billion
Industry- Technology
Country- United States
Jeff Bezos
Almost half of the population has made a purchase from Amazon, the world’s largest online marketplace, which sells everything from A to Z and was founded by Jeff Bezos. Bezos founded Amazon in 1994 as an online bookshop, subsequently expanding to other consumer goods.
During the 2000s, he experienced financial ups and downs, and in 2016, the firm raised approximately $671 million, which is the greatest sum ever raised in Amazon shares. According to Forbes, Jeff Bezos surpassed Bill Gates as the world’s wealthiest person in 2017.
Moreover, Bezos is the founder and CEO of The Washington Post, an American newspaper publishing firm, and Blue Origin, aerospace, and spaceflight manufacturing company, in addition to being the founder and CEO of Amazon. With a net worth of $181 billion as of February 2022, Jeff Bezos is the second richest person on the planet.
Bernard Arnault
Net Worth- $161 billion
Industry- Consumer
Country- France
Bernard Arnault
When we think of “global fashion,” the first words that come to mind are Paris or LVMH Moët Hennessy Louis Vuitton. Bernard Arnault founded Louis Vuitton, the world’s most recognizable luxury goods fashion brand, in 1987. Initially, Arnault and his managerial partner, Antoine Bernheim, invested together in Boussac Saint-Frères, a subsidiary of Christian Dior.
In 1987, Bernard was encouraged to invest via Joint Venture with Guinness PLC by former LVMH chairman Henri Racamier. Bernard later founded the world’s largest duty-free chain in the 1990s, which included Sephora, Loewe, Celine, Berluti, Christain Lacroix, and other well-known fashion labels.
Bernard also extended his business in the 2000s by acquiring premium labels such as La Samaritaine, Fendi, Bulgari, and Tiffany & Co. Bernard has earned the title of “Europe’s wealthiest person,” with a net worth of approximately $161 billion.
Bill Gates
Net Worth- $128 billion
Industry- Technology
Country- United States
Bill Gates
With the exception of 2010, 2011, 2012, and 2013, the world-famous billionaire, investor, author, philanthropist, and co-founder of Microsoft has appeared on the list of the world’s wealthiest people every year since 1987.
Bill Gates was a key figure in the microcomputer revolution in the 1970s and 1980s. Gates enrolled in his first software program when he was very young, and he was particularly interested in programming the General Electric system in BASIC.
In 1970, four students were grouped -Bill Gates, Paul Allen, Kent Evans, and Ric Wieland & created the ‘Lakeside Programming’ club to make money. In 1975, Gates founded ‘Microsoft’ with his friend Paul, and produced the first-of-its-kind programming language BASIC for the Altair 8800 ‘Microcomputer,’ an early personal computer.
Following the merger with IBM, Gates released the first retail version of Microsoft Windows in 1985, making him the richest person on the planet with $128 billion in February 2022.
Larry Page
Net Worth- $121 billion
Industry- Technology
Country- United States
Larry Page
He is the co-founder of Google and a computer scientist and Internet entrepreneur from the United States. In 1998, Page and his friend Sergey Brin teamed up to create the domain name ‘Google.’
With one billion URLs at the time, Google became the most searched web in 2000. After hiring Sundar Pichai into the Google team as CEO and Eric Emerson Schmidt in 2011, he withdrew from Google.
Larry Page also founded Google’s parent firm, Alphabet, the world’s largest search engine operator, from which he stepped down in 2019 but remained a board director. Larry Page’s net worth is predicted to be 121 billion dollars, putting him in fifth place on the list of the world’s wealthiest individuals as of February 2022.
Warren Buffett
Net Worth- $115 billion
Industry- Technology
Country- Diversified
Warren Buffett became the richest man in the world as a result of his partnerships with major corporations such as Apple Inc., Coca-Cola, Bank of America, Kraft Heinz, BYD, DaVita, and others. He is recognized as the ‘Oracle of Omaha,’ as a successful investor in both the twentieth and twenty-first centuries.
Buffett’s primary investment was a large interest in the textile producer Berkshire Hathaway Inc. in 1965, which proved to be a huge shot in his career. He is currently holding the sixth richest person in the world as per Bloomberg Billionaires Index, worth 115 billion dollars.
Sergey Brin
Net Worth- $116 billion
Industry- Technology
Country- United States
Sergey Brin
As I stated above, Sergey Brin, a Google partner as well as the co-founder, assisted Larry Page in the development of the world’s first online search engine internet- Google. Brin followed Page’s lead and stepped down as CEO of Google and Alphabet.
Brin was a Stanford student when he met Page and developed the PageRank Algorithm, which led to the creation of Google, a California-based firm founded in 1998. Sergey Brin is the 7th most powerful person on the list of the world’s richest people, with a fortune of $115 billion, as of February 2022.
Steve Ballmer
Net Worth- $108 billion
Industry- Technology
Country- United States
Steve Ballmer
He is a businessman and investor from the United States who served as the CEO of Microsoft for 14 years, from 2000 to 2014. Bill Gates hired Steve Ballmer as his first business manager in June 1980, offering him 5 to 10% of the company’s stock.
After antitrust litigation against competing corporations, Steve Ballmer was given the post of CEO of Microsoft in 2000. Steve was interested in sports and had planned to invest in the Seattle SuperSonics, but instead moved to Oklahoma City and began playing for them. Ballmer invested approximately $650 million after Chris R. Hansen proposed bringing the Seattle SuperSonics back.
Later that year, there was an auction for the Los Angeles Clippers, in which Steve Ballmer was the biggest bidder in sports history, winning $2 billion. In February 2022, Steve Ballmer’s net worth was estimated to be $108 billion.
Oracle Corporation, a Texas-based firm founded by Larry Ellison in 1977, is the world’s second-largest software company. Larry and Bob Miner worked at Ampex Corporations on a similar version of Edgar Ted Codd’s remarkable work on IBM’s ‘rational database,’ which led to the establishment of Oracle Corp. The ‘Structured Query Language (SQL)’ was Oracle’s initial database application, and it immediately became popular.
The program’s first customer was the United States Air Force, who employed it at Wright-Patterson Air Force Base. In 2021, he became an exclusive member of Oracle Corporation after purchasing 40% of the company’s stock. He is also the world’s ninth richest person with the asset 97.7 billion dollars, according to the Bloomberg Billionaires Index for February 2022.
Mukesh Ambani
Net Worth- $91.1 billion
Industry- Energy
Country- India
Mukesh Ambani
For long-standing, Ambani is the first richest Asian in the world according to the Bloomberg Index. He is the owner of Reliance industries limited, which is considered the most valuable brand on the Fortune Global 500 list. Ambani took his late father Dhirubhai Ambani’s steps in developing RIL and its expansion in the field of petrochemicals, natural gas, mass media, textiles, and telecommunications.
Reliance Industries Ltd. is the largest retailer in India and held the title of India’s richest person on Forbes list for the past 10 years. In 2018, Ambani became the richest Asian over Jack Ma– CEO of Alibaba Group with 44.3 billion dollars as net worth. As of now, Mukesh Ambani’s net worth is $91 Billion.
Gautam Adani
Net Worth- $85.2 billion
Industry- Industrial
Country- India
Gautam Adani
Gautam Adani is an Indian industrialist and philanthropist worth billions of dollars. He is the creator and chairman of the Adani Group, a transnational firm founded in Ahmedabad that works in port advancement and projects in India. Adani also administers as the president of the Adani Foundation, which is governed by his wife, Priti Adani.
Adani was born on June 24, 1962, in Ahmedabad, Gujarat, to Shantilal and Shanti Adani and has 7 siblings. His father worked for a modest textile company. Adani was interested in business, but not in his father’s textile company. In 1978, Adani began his work as a diamond sorter for Mahendra Brothers, and in 1981, he took over as the manager of his brother’s plastics project.
He began importing primary polymers for small-scale manufacturers in 1985, and by the early 1990s, he had expanded his firm to include metals, textiles, and agricultural items.
Adani joined the power generation business in 2006. Adani won the world’s largest solar bid, worth $6 billion, from the Solar Energy Corporation of India in May 2020. Adani purchased a 74% share in Mumbai International Airport, India’s next busiest airport, in September 2020. And after continuously accomplishing his enterprise, he ultimately came to be Asia’s richest person in February 2022.
Mark Zuckerberg
Net Worth- $83.6 billion
Industry- Technology
Country- United States
Mark Zuckerberg
One of the most extensively utilised social media networks is Facebook. Mark Zuckerberg is the co-founder of Facebook as well as the chairman of Meta, the business that owns Facebook. Zuckerberg was born on 14 May 1984 in White Plains, New York, United States. Zuckerberg was studying at Harvard University. In February 2004, Zuckerberg and his Harvard University roommates Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes created Facebook from their dorm room.
Initially limited to a few college campuses, the site quickly grew in popularity and finally surpassed one billion users by 2012. In May 2012, Zuckerberg took the firm public with a controlling stake. He came to be the world’s youngest self-made billionaire at the age of 23 in 2007.
Since 2008, Time magazine has labelled Zuckerberg as one of the world’s 100 most influential people as part of its Person of the Year award, which he won in 2010.
Zuckerberg was positioned 10th on Forbes’ list of the World’s Most Powerful People in December 2016. According to the Forbes Real-Time Billionaires Index, Zuckerberg’s net worth was $83.6 billion on February 4, 2022, and his net worth went low by $29.7 billion due to a drop in Meta Platforms shares, which caused the social media giant to lose roughly a fourth of its market price.
Francoise Bettencourt Meyers
Net Worth- $81.2 billion
Industry- Consumer
Country- France
Francoise Bettencourt Meyers
We read about many wealthy guys in the previous sections, and now it’s time to meet Francoise Bettencourt Meyers, the world’s wealthiest woman. Françoise Bettencourt Meyers is a rich inheritor from France. She was born in Neuilly-sur-Seine, France, on July 10, 1953. L’Oreal was founded by her grandfather, Eugène Schueller.
Bettencourt Meyers’ net worth was over $39.5 billion in 2017, putting her among the top 20 wealthiest persons on the planet. Even though Francoise Bettencourt Meyers had a 33% interest in L’Oreal, Françoise devotes her time to writing novels.
The heiress is a writer who has written books on everything from Greek mythology to the Bible. She was raised Catholic and is academic. She even co-founded the Bettencourt Schueller Foundation with her mother in 1987 to assist scientific, artistic, and humanitarian studies.
According to the aforementioned Vanity Fair profile, she favoured playing the piano or reading books even as a child. According to the Bloomberg Billionaires Index, she was the world’s richest woman in January 2022, with a net worth of $81.2 billion.
Binance is one of the world’s major cryptocurrency exchanges and it was created by Changpeng Zhao, also known as CZ. He is the founder and CEO of Binance. Changpeng Zhao was born in Jiangsu, China, on September 10, 1977. He was raised in Canada, where he completed his education.
CZ began working when he was a teenager in order to assist his parents. In the 1980s, he worked at McDonald’s. He later studied Computer Science at McGill University. He was also interested in stock markets and trading, which influenced his decision to pursue this profession. Zhao worked as the chief technology officer of OKCoin and was a part of the Blockchain.info development team.
As of January 23, 2022, his net worth was computed to be $96 billion, propelling him the wealthiest person in Canada and he has earned the 14th stance in the chart of richest persons on the planet, according to Bloomberg Billionaires Index.
Zhong Shanshan
Net Worth- $75.8 billion
Industry- Diversified
Country- China
Zhong Shanshan
Zhong Shanshan is a rich Chinese businessman. He is the majority owner of Beijing Wantai Biological Pharmacy Enterprise and the creator and chairman of the Nongfu Spring beverage firm.
Zhong was born in the Chinese city of Hangzhou in 1954. In 1977, he began his career as a journalist at the Zhejiang Daily and then moved into the business world. After relocating to Hainan, he worked as a sales representative for the Wahaha beverage company, where he marketed healthcare supplements.
Zhong established a bottled water firm in Hangzhou in 1996, named Nongfu Spring. His company grew prosperous as a result of his hard effort. He was the sixth wealthiest person in the world in 2021, with a net worth of 95 billion dollars, but he plummeted after suffering a significant loss. He owned 84.4 per cent of Nongfu Spring and was the company’s chairperson as of January 2021.
Carlos Slim
Net Worth- $69.5 billion
Industry- Diversified
Country- Mexico
Carlos Slim
Carlos Slim Hel is a philanthropist, investor, and telecommunications billionaire from Mexico. Slim was born in Mexico City on January 28, 1940. He had an interest in business since he was a child.
He began investing in government savings bonds when he was 11 years old, and at the age of 12, he bought shares in a Mexican bank, eventually becoming the largest shareholder in the country. In civil engineering, he received his diploma.
Education, health care, industrial manufacturing, transportation, real estate, media, energy, hospitality, entertainment, high-tech, retail, sports, and financial services are among the industries represented in his alliance.
His net worth is equal to around 6% of Mexico’s gross domestic product, and he controls 40% of the Mexican Stock Exchange’s listings. He is the richest person in Latin America. With a net worth of $69.5 billion as of January 2022, Bloomberg Billionaires Index rated him as the world’s 16th richest person.
Jim Walton
Net Worth- $61.5 billion
Industry- Retail
Country- United States
Jim Walton
James Carr Walton, an American businessman and the heir to Walmart’s riches, is the world’s biggest merchandiser. Jim Walton was born in the Arkansas town of Newport, in the county of Jackson. Walton earned a bachelor’s degree in Business Administration in Marketing from the University of Arkansas in Fayetteville, Arkansas, in 1971, after graduating from Bentonville High School in 1965.
He joined Walmart in 1972 and worked in the company’s real estate division. In 1975, he became president of Walton Enterprises, a family business, after serving for four years. He was CEO of his family’s Arvest Bank before becoming Chairman of Arvest Bank and Chairman of Jim Walton’s newspaper company, Community Publishers Inc. (CPI). Walton was noted to possess more than 152 million Walmart stakes worth more than $11 billion in September 2016.
According to the Bloomberg Billionaires Index, Walton was the seventeenth richest person on the planet in January 2022, with a net worth of US$61.5 billion.
Amancio Ortega
Net Worth- $60.5 billion
Industry- Retail
Country- Spain
Amancio Ortega Gaona is a Spanish billionaire businessman. He is the founder and former chairman of Inditex fashion group, best known for its chain of Zara clothing and accessories shops. He was born on 28 March 1936 in Busdongo de Arbas, Spain. At the age of 14, he relocated to A Coruna. He worked for Gala, a local shirtmaker, while he was a teenager.
He started Confecciones Goa in 1972 to offer quilted bathrobes. With his wife Rosala Mera, he launched the first Zara store in 1975. Ortega declared his impending retirement from Inditex, the parent company of the Zara clothing retailer, in 2011. Ortega has a net worth of $60.5 billion making him the world’s 19th wealthiest person.
Rob Walton
Net Worth- $61.1 billion
Industry- Retail
Country- United States
Samuel Robson Walton, the world’s richest man, is the heir to Walmart’s fortune. Rob Walton was born in Tulsa, Oklahoma, on October 28, 1944. Walton studied at The College of Wooster and earned a bachelor’s degree in business administration from the University of Arkansas in 1966. In 1969, he graduated from Columbia Law School with a Juris doctorate.
Walton joined the firm as a member after graduating. He was the senior vice president of Walmart in 1978 and was promoted to vice chairman in 1982. From 1992 through 2015, he was the chairman of Walmart.
Charles Koch
Net Worth- $59.2 billion
Industry- Industrial
Country- United States
Charles de Ganahl Koch, a rich businessman from the United States, inherited from his father. He was born in Wichita, Kansas, on November 1, 1935. He attended a private school and received his education at the Massachusetts Institute of Technology. He earned a bachelor’s degree in general engineering, a master’s degree in nuclear engineering, and a second master’s degree in chemical engineering.
Koch began working at Arthur D. Little, Inc. after graduating from college. Along with his brothers, he inherited his father’s business. He is a co-founder of the Cato Institute in Washington, D.C. On the Bloomberg Billionaires Index, he was listed as the world’s 21st richest person in January 2022, with a net worth of $59.2 billion.
Conclusion
The above-compiled list of billionaires consists of billionaires from different industries who made big in their industry. There are billionaires who gained their billionaire status by starting their own space company and some by diversifying their portfolio and smartly investing in stocks. The industry that produced the most billionaires is technology. So, if you want to know who will be the next new billionaire, keep a close watch on this industry.
FAQ
Who is the No 1 richest person in the world?
As of Feb 2022, Elon Musk is the richest person in the world with a net worth of $224 billion.
Who is the richest person in India?
Mukesh Ambani is the richest person in India with a net worth of Rs 7.18 lakh crore.
Which country has the most billionaires?
The United States has the most number of billionaires with 724 billionaires in the country.
There is a high chance that you don’t remember the last time you used ‘cash’ for a transaction at a Kirana store. The world is changing and it is becoming cashless, not a new thing but more like the new normal.
The shift from cash to cashless is so welcomed all over the world that it has become the new normal. Tech in transactions is the most in-demand technology and has proved to be really penetrative in every society.
The most famous technology is the UPI. It stands for Unified Payments Interface. It is the most favourite bridge that enables transactions all over India. We all know this and we see just this aspect of the story. However, that is not all. Behind the scenes, a lot of fights happen for customers and numbers. UPI apps are almost always constantly at war. In this article, we talk about these apps and what is the issue that they deal with. But first, the basics.
UPI or the Unified Payments Interface is the most famous bridge of transactions in India. It is fast and secure which makes it the perfect alternative for cash. Handling cash is hard, handing a UPI is not hard at all.
Immense growth was led by UPI last year, which recorded more than INR 73 Lakh Crores in 2021. Moreover, a year-on-year rise of over 110% as opposed to INR 33.87 Lakh Crores transaction in 2020.
UPI is a system that has the ability to attach multiple bank accounts with a smartphone application. That application can be later used to transact with the bank that the user uses. This makes it easy to go cashless when your bank account is linked to the UPI app in your pocket. It’s like taking the bank in your pocket.
Benefits of UPI
You can send money almost immediately through any smart device and even a basic buttoned device.
UPI is available at any hour and any day of the year.
As the name suggests, UPI is a unified payment method that enables a user to add more than one bank account to the application.
2FA is more than easy in this process. 2 FA stands for two-factor authentication which is easily managed with a UPI pin along with the inbuilt app pin.
UPI is easy because it saves you the time of writing details like Card number, IFSC code and all the bank page clutter.
Total Transactions of UPI Apps in India
UPI is the future of payments, or should we say the smart present of payments. The numbers point in this direction as well. We see that just in the first month of this year, UPI transactions touched the cap of 461 crores. Those crores transactions totalled to be worth about 8.31 Lakh Cr.
The topmost player surprisingly was not Google Pay, In terms of market share PhonePe carried out 21,403 Crore transactions. Those mentioned transactions were worth INR 4.05 Lakh crore in the first month of the year.
The new entrant in the payments market, WhatsApp Pay saw the value and number of transactions grow to great magnitudes. The overall share of the company however is as low as 0.03 percent which entails about 13.4 lakh transactions in the first month. Those transactions were reported to be around 205 Crore in Indian Rupees.
In the month of January, the UPI transactions were recorded to hit the number 461 crore. Those transactions in the month touched the magnitude of 8.3 lakh crore in Indian rupees, equivalent to 111 billion dollars.
This number was not usual in any sense and was the highest recorded number in the history of UPI transactions. Even after this number is the highest in the magnitude of UPI transactions, it grew only about 1 percent month on month. This is in no doubt a jump and halt situation.
Noticing the surge in transactions and magnitude in the UPI sector, it was also noted that app performance had not grown that much. App wise, the growth was not new, it was the previous pace that continued and no jump was noticed in the app sector.
Apps performance recorded a single digit of growth in this month on month. Even in this segment, PhonePe was the winner that carried 4.05 lakh crore transactions. Google Pay, which most people were anticipating, did not come to the first resort. It was the second runner up in the race of UPI transactions. That maintained to get some transaction value that was worth almost three lakh crores.
The third number, in terms of transactions and magnitudes, was won by the Indian player that is also now a publicly listed company. Yes, you guessed it right, it is Paytm. Paytm saw a transactional rate of 85 thousand crores which was a fall from before. Amazon pay got transactions that were worth about 67 hundred crores. WhatsApp, the new entrant in the payments market touched the 205 crores of transactions with its messaging app which is now a UPI payments app too.
Among all these numbers, one thing is common, that thing is UPI. It is the transaction that everyone is looking at and it is also the point of conflict of many multinationals.
UPI war is on with all the players in the market. The goal is to get maximum density in markets and to get a viable customer experience that can increase loyalty. Before we read more about the ongoing UPI war let us read some important words in the UPI market. Basically how the UPI world works.
There are many technical terms that can confuse a noob when we talk about technology. The UPI world is also not an exception. Let us talk about a few things that the UPI entails before we read more about the UPI war.
VPA ID
VPA or virtual payment address is the virtual address of someone. As the name suggests, it is the address to which payment in a transaction can be directed. To begin a transaction, one has to share their virtual address to which the payee can direct the payment.
The payer has to confirm the VPA by entering the MPIN, or mobile pin, to be sure that it is an authentic translation and is done by the owner of the bank account. Once checked, the transaction is completed and a change in balance is reflected, without any delay.
QR code
QR code is a better alternative for VPA IDs, these are codes that can be scanned via a mobile device. Stores have these types of transaction mechanisms that help in the easy collection of payments from buyers.
They can be scanned from the UPI app itself and transactions can happen easily. This is easy and faster than sharing VPA IDs and most smart stores have them as a payment aid.
QR Code Scanner
Several Bank Accounts can be added using the UPI app and Several VPI Ids can be maintained. A maximum of 20 transactions is allowed in 24 hours. All transactions take place on a real-time basis.
The Mobile Number
Most people in India are not tech-savvy and this is a hindrance in payments via UPI. Even if someone sets up a VPA and UPI Id on a shopkeeper’s device, he won’t know it and would not remember it.
UPI apps save the day with one more feature. Mobile numbers can also direct payments to the right address. This feature was enabled recently and has massive use cases.
Every mobile number now is connected to the bank account of the holder and can serve as a UPI or VPA ID. They are known as linked MMID and can direct payments to the right bank account.
Bank Credentials
Another factor in payments of UPI is the bank credentials themselves. You can manually enter the saving account number and/or the IFSC code to the UPI app and the app can direct payments to that specific account. This is however not the best alternative to transactions but is popular in India.
NFC
New smartphones nowadays come with a new technology called NFC. NFC is an audio technology that is contactless and can connect two devices. This connection can also help in UPI transactions and is authenticated by both ends. According to RBI guidelines, one can interlink all their existing KYC compiled e-wallet accounts. But, only a few apps provide this service.
Market Share of UPI Apps and the Ongoing UPI War
A Detailed Look at the UPI App War
The UPI apps we are talking about, have their own territory. Market share refers to that territory in this context.
PhonePe
Last year the UPI app with the most wins was PhonePe. This year the war continues. PhonePe won on all the key metrics that there is to track payments. Be it the value of transactions, registered users and all the merchants’ average.
While PhonePe’s count of transactions remained the same, the volume of transactions rose to 48.7 percent. The startup has been the leader in the market with over 46 percent market share in the transactions volume processed last year. This metric proves the dominance that the UPI startup has gathered.
PhonePe’s share in transactions counts remained the same but the volumes transcended a big jump and it rose to about 48 percent. The company also claimed that the ‘registered users’ have crossed the 350 Million mark. They also mentioned that they were witnessing a 28 percent month on month growth from January to December 2021.
PhonePe is the first payment platform in India. Based out of Bangalore, this UPI payments app became the heartthrob of payers. The company collaborated with Yes bank to get into the UPI space and captured about 37 percent of the new market in India. Later, the company was acquired by e-commerce giant Flipkart. It is soon to be added as a valid payment option in Walmart India’s “B2B Cash & Carry Stores”.
They had the first movers advantage in many aspects. Just like the google pay (Tez earlier) app, the PhonePe app has a lot of features that make them stand out. With the money transfer limit using UPI set to ₹1 lakh, one can pay credit card bills too. An outstanding UI is a cherry on top.
Google Pay
Next in the line of market shareholders is the most household name of Google pay. They didn’t witness significant growth. The market share for google pay dropped from 37.5 per cent to 34.4 percent. According to an NPCI guideline, all third party UPI apps have to add a cap to the value of their transactions at 30 percent by December 2023. This can be good news for this fall in the market share of the US fintech giant.
With great goodwill at the back, Google really stands on a pedestal. The google pay UPI app is by far the most famous UPI payments app in India. Google has always remained a top innovator in every part. Any of the Google services can be relied upon. The name Google itself stands for efficiency and simplicity. The Google Play app has also made it easy for app users to use proximity features. They have NFC enabled in the app.
The payments app from google has all the features that it takes to make it the best UPI app out there. With online trade being a fast option for most people, google play also includes more than 2000 merchants partners in India alone. In India, Google pay is the second-largest UPI payments app with a market share of 35 per cent. It entails figures like 320 Million transactions in terms of volume and 61000 crores in terms of value being the guns on its trajectory.
The app really features loaded and has every feature of a top-notch character. Carrying the ‘Simplicity’ thing that google has managed to carry on all its services and apps, the UPI app has managed to get the second most UPI payments in the country.
PhonePe and Google Pay were the topmost choices of UPI payments in the last year. We will discuss the rest later, let’s focus on the war of these two first.
Paytm
Paytm is another famous name in the UPI segment. It has an inbuilt feature of wallet which can be used without KYC and bank account, this is one of the most unique features that the app has. It is also a differentiator. The war of UPI apps has led Paytm to get a share of almost 6% in the UPI segment. This is rather small but the app has a lot of potentials. The primary rivals are Google Pay and the leader PhonePe.
Paytm was the first digital payment service provider that had its hands on Indian territory. The homegrown brand is the largest digital wallet service provider in the country. The app is known to have dominated the cashless payments market. The company also claims that they have more downloads across Android and IOS than most UPI payments apps. The initial problems that the company faced were the UI and the acceptance of digital payments in India.
After updates and updates with learning’s and learnings, the Paytm app has improved much and now comes with an excellent UI. The app first lost in the war of UI and user experience but the overall performance has been quite impressive. It is the most famous homegrown UPI app in India. Founded by Vijay Shekhar Sharma and being a homegrown company, the startup has a lot of leverage that adds to its revenue.
Paytm is one of the easiest to use UPI apps out there and not only that, the app offers a long list of features. There is a unique wallet feature, then there is a Paytm bank, then a mall on your phone, it is also now entering the investments category.
You can pay your credit card bills, do shopping of all sorts and buy now pay later options are available too. Thus, this small package of apps offers a decent amount of features and accessibility to money and transactions. That is one of the main reasons for its market share of 6%, which is decent in India.
Amazon Pay
The next rival or participant in the UPI war is Amazon Pay. The new entrant in the market with great tech support and seamless payment options, amazon pay is out there to win.
As of November 2020, it was reported that amazon pay was the fourth most used app in the UPI segments. The app wins over everyone in terms that it is a sidekick of payments in shopping. The brand of amazon gives it a good boost. It was reported that Amazon Pay got 37.15 million transactions in volume that added to over 3600 crores in total value. Which is a pretty good sum in the segment.
Not only a shopping aid but the amazon pay app also offers payments of groceries and small buys at a Kirana store. The shopping integration of Amazon is really a great kick start but the app is also growing out of that segment too. Amazon pay got 37.15 million transactions in volume with Rs 3,624.51 Cr in transaction value in this month.
The ongoing war is nothing but a fight of features and like-ability. The app that has the most unique and helpful factor wins the game and takes the customers. All the top players in the market which we discussed above have their own set of features and uniqueness. Here we will try to uncover what lies behind the bush of differentiators.
PhonePe
PhonePe, the most used UPI app in terms of volume, is bound to have awesome features and traits. The startup has made its app look really different and simple. The app is capable of linking various accounts and e-wallets to itself.
You can link free charge, Jio money, and e-wallets like Airtel wallet to your PhonePe account. The app also allows people to pay credit card bills within the app which saves a lot of hassle.
The users of PhonePe can even buy gold with the new update. Cashback and rewards are the most common features of UPI apps in the market. PhonePe has that, without mentioning it. The app follows all the guidelines of UPI payments and thus, one can make a transaction of upto 1 lakh. The app also has the basic categories of regular payments like electricity, gas broadband, data card and the like.
Bill payments and recharges are very easy on PhonePe and there exists a separate icon for money transfer from bank accounts. You can check bank balances too and they are super attentive to negative feedback. Which makes it the all-rounder UPI payments app.
Google Pay
Google Pay is another famous app. The UPI app from Google runs on the same principle as of the parent company Google. The app is simple and works every time without any hassles. However the wallet option is not available, the app does work overtime to make it right for users. You just need a mobile number and a bank account to start your payments. It is easy and reliable.
You can chat with a person on google pay before and after any transactions. The User interface and the experience that it entails is also top-notch. Payment services are available across all the Google services and they can also be used to 3rd party apps. There exist extensions like Zomato, Swiggy, Groww and etc. within the application itself. It is the first to use NFC technology. DTH, broadband, landline, mobile recharges are also reminded to the user. The app is secure and has a safety shield feature too and users can also enable biometrics.
Paytm
The app comes with an excellent user interface now and is completely made in India. Which makes it a famous application among Indians. The app has one of the most differentiating features of a wallet that helps it find a good product-market fit in the UPI segment. Many people who do not operate a bank account can go with this feature of e-Wallet. Paytm Payment Bank is linked with Rupay Virtual Debit Card.
Due to all the features and an excellent UI, the app works in most locations. From a small Kirana store to big malls, Paytm is accepted. You can even invest your money directly from the app itself. Paytm services range from bank to mall to mutual funds etcetera.
Amazon Pay
Amazon Pay is also a famous app because of its parent company, Amazon. The app first originated as a payments app for nearby UPI payments. Now the app has grown into a full-feature app on its own. It is a great aid in shopping for people who love to shop.
Apart from that the app also makes it possible to use it as a UPI payments app. This was the unique feature with Amazon pay but it is not that famous like Google Pay and others.
The reason is that many people don’t know about it, Amazon customers just use Amazon to buy something and forget about their account. Once this barrier is lifted, the Amazon pay app can be a big disrupter in the online payments market.
UPI Guidelines and Regulations
When the online market in the payments sector is booming, it becomes important that the market is regulated. NCPI has come forward to make some guidelines for UPI payments. Here we will discuss some of the most notable ones. These are the guidelines for TPAP, or third party app providers.
NPCI’s guideline had asked all the third-party app providers (TPAP) to cap their transaction value at 30% by December 2023. This means that UPI payment apps like PhonePe and Google Pay now need to rescue their market share. As per NPCI, the upper limit for UPI is Rs. 1.00 lacs.
The Third-party app provider guidelines for TPAP guidelines are also aimed to prevent oligopoly and to promote competition. Competitions will be healthy for the overall market and it has the ability to make the market a little better than before for everyone. These guidelines were also the reason why WhatsApp has a very small UPI share in the whole market. WhatsApps share is equal to 0.08 percent.
Adding to the guidelines above, The NPCI has also disallowed WhatsApp from leveraging its payment platform. They have ordered a cap of 50 crores. This means that Whatsapp payments will not go above the magnitude of 500 million dollars or 50 crores. It is to be noted that WhatsApp had around 487 million registered users in India last year. In 2021, it had 390 million active users growing 16% year on year in India alone.
It was recently seen that the messaging app WhatsApp is entering the payments market which makes people suspicious. WhatsApp was also made to put a cap on their payments feature to prevent monopoly over the market. Their users were limited to 20 million. But now the revised relief says that the company can double down the users of the payment, NCPI said.
Now the cap is reported to be 40 million and WhatsApp has done really well in the past financial year. In January, last month, WhatsApp recorded a total of 23.4 Lakh transactions. That was worth INR 205 Cr. It also entailed a 9% month-on-month growth (highest among the top four, mentioned in the article).
RBI has mentioned that about 50% of the transactions through UPI were below INR 200, thus, a framework to enable small value digital payments in offline mode has been announced. Users will now be able to make small transactions (within 200 rupees) offline (without the use of the internet). We will now be able to channel transactions without any instruments such as cards, wallets and mobile devices in any UPI app.
100% of post office banks will come under the core banking umbrella to boost financial inclusion. The move is aimed at giving access to post office bank accounts through net banking, mobile banking, ATMs, and also provide online transfer of funds between post office accounts and bank accounts, During the Budget 2022 speech, Finance minister Nirmala Sitharaman said.
To boost the adoption of digital banking services further and to mark 75 years of India’s independence, 75 digital banking units in districts will be set up by scheduled commercial banks, Finance minister Nirmala Sitharaman said.
“This will be helpful, especially for farmers and senior citizens in rural areas, enabling interoperability and financial inclusion,” she mentioned in her Budget speech.
All the guidelines point in one direction, and that direction is the direction of a cashless future. We are all moving to a cashless world where paper money will be a thing of the past. This was not easy before but looking at the current trends and shifts in technology, it is the near future. Exciting as it gets, the UPI market in India is set for more tides and currents.
As per a report by ACI Worldwide, India retained the top spot in terms of digital transactions worldwide. India saw payments of 25.5 billion on a real-time basis. It is the highest number, followed by China.
No doubt, that the UPI market is set for growth in India and anyone capitalising on this will make real cash. This is the reason UPI payments companies are fighting for this and thus the UPI war.
Apps like PhonePe, Google Pay, Paytm and amazon pay have been fighting for market dominance and the market is evenly distributed in most parts of India. Besides growing in India, the Unified payments interface is all ready to enter overseas as well, reports say. UPI will be prevalent in countries such as the USA, the UK, Japan, China, Singapore, etc.
FAQ
Which are some of the Indian UPI apps?
Phonepe, Paytm, and BHIM are some of the UPI apps based in India.
Are UPI apps safe?
Yes, UPI apps are completely safe as it is regulated by the Reserve Bank of India & NPCI.
Which payment app is the best?
Google Pay, Paytm, Phonepe and Apple Pay are some of the best payment apps.
Since the Indus Valley Civilisation, agriculture has been the lifeline of India. We have 70% of Indian households still dependent on farming, contributing 17–18% to the country’s GDP, according to the latest report.
Agritech startups have great potential in India. There is a huge scope of Agritech startups for India’s farmers who are striving against unreliable climate changes, water scarcity, price hikes, and many other problems.
Agritech is the concept of applying modern technologies to the agricultural sector with a view of enhancing and producing with efficiency and generating sufficient revenue to support livelihoods.
The concept extends to any kind of applications, practices, products, and services that enhance any aspect, whether input or output, of the agricultural process.
Why is there a Need For Agritech Startups in India?
Today’s farmer faces a lot of challenges to sustain their livelihood through farming. Malpractices in the unorganized agricultural markets and the absence of organized marketing systems for production are becoming a major concern for Indian farmers.
Moreover, they have to deal with poor transportation and storage services and much more. They have limited access to superior technology to get timely information and agricultural solutions which leaves them vulnerable and all by themselves.
Agritech startups have the potential to address these challenges from the very beginning, and subsequently change the face of Indian agriculture. They are the knights in shining armour for Indian farmers.
Initiatives by Indian Government For Agritech Startups
The Government of India has been dynamically making policies to improve farmers’ lives in India. In fact, the government has promised its citizens to double the incomes of farmers by the end of 2022.
Finance Minister Nirmala Sitharaman also said that the government will support new entrepreneurs in driving value addition to farmers’ produce from the field.
The NITI Aayog is collaborating with companies like IBM to pilot technology-driven solutions for the agriculture sector in order to provide real-time advice to the farmers. As a result, artificial intelligence is being used to develop crop-yield protection models.
The Agritech sector is a fast-growing sector with great potential to benefit Indian agriculture and eventually raise farmers’ incomes. Currently, India has 450 Agritech startups and is reported to grow by 25% every year by NASSCOM.
A wave of Agritech startups has emerged in the last few years in India. In India Agritech sector has come a long way with 43 startups in 2013 to more than 1000 startups in 2020, driven by rising in rural internet penetration, a rise in post-harvest and supply chain losses, a growing number of investors interest in the sector, etc.
They are now able to solve agricultural problems such as the use of outdated equipment, supply chain management, lack of proper infrastructure, and farmers unable to access a wider range of markets with ease.
According to the latest report, over 3.23 billion dollars were invested in the agriculture sector worldwide. Of this,53 Indian Agritech startups raised 313 million dollars. This is a huge breakthrough for Indian startups and these figures will inspire young entrepreneurial minds of our country to seek in the direction of agricultural technology.
Which States are Focusing on Agritech Startups in India?
Although all states are aware of the importance of Agritech startups for agriculture to flourish, some states have actually established startup ecosystem hubs. Karnataka and Maharashtra together account for almost 50 percent of the total Agritech startups opened in the past 5 years in the whole country.
Although Gujarat has a low share in Agritech startups, according to the State Startup Ranking Report 2018 published by The Department of Industrial Policy & Promotion (DIPP), it is the best-performing state in the Indian Agritech startup ecosystem hub.
Leading Agritech Startups in India
1) Ecozen Solutions
Ecozen Solutions Logo
Based in Pune, this Agritech startup was founded in 2010 by Devendra Gupta, Prateek Singhal, and Vivek Pandey. It focuses on developing technology-enabled products to strengthen the farm-to-fork value chain of perishables, with a focus on renewable energy and sustainable development.
Till now, Ecozen has developed two products so far:
Ecofrost, is a device that acts as a portable cold room that maintains a low temperature. It works on solar power.
Ecotron, a pump controller for irrigation that also works on solar power.
According to the company, approximately 20,000 farmers in India have used their products. But the owners don’t want to stop there. They are planning to enter new areas for irrigation sales and launch a new set of cold-chain products.
2) FreshVnF
FreshVnF Logo
FreshVnF is founded by entrepreneurs Atul Kumar, Vikas Dosala, Sumit Rai, and Aashish Krishnatre in 2018. It is a Mumbai based Agritech startup that uses machine learning (ML) to optimize a farm-to-fork supply chain by connecting farmers with hotels, restaurants, and cafes.
FrenshVnf is a prospering company, having recently raised 2 million dollars in a funding round led by Equanimity Ventures. It has delivered around 15 tonnes of fresh produce per day to more than 300 clients. The company now aims to provide fresh farm produce to the end customer within 16 hours of harvesting.
3) FIB-SOL Life Technologies
FIB-SOL Life Technologies Logo
FIB-SOL Life Technologies is an agritech startup that was founded in 2013 by a team of post-doctoral and doctoral scholars of IIT Madras. The company’s technology is focused on developing low-cost bio-fertilizers that help farmers to improve crop yield and soil quality.
The company offers three products for its customers under GEL and DROPS which provide microbial nutrients to enrich the fertility of farmlands. They are priced at Rs 420 and Rs 100, respectively.
FIB-SOL also aims to improve product shelf life for manufacturers, help suppliers stock inventory efficiently, and eventually boost farmers’ income. In May last year, the startup received Rs 1.5 crore in angel investment from Keiretsu Forum in Chennai.
Agritech startups are the need of the nation right now. More and more entrepreneurs are setting up companies in this field, grabbing the opportunity to transform the sector. The government policies are also giving thrust to these startups so that they can easily find investors. The farmers can finally look forward to better price realization now and embrace this new initiative.
FAQs
What is agriTech?
AgriTech is the concept of applying modern technologies to the agricultural sector with a view of enhancing and producing with efficiency and generating sufficient revenue to support livelihoods.
How many agritech startups are there in India?
There are nearly 600 to 700 agritech startups in India.
Are there any listed agritech companies in India?
Bayer CropScience, Godrej Agrovert, and PI Industries are some of the listed agritech companies in India.
Why is agritech important in India?
AgriTech promises to help farmers increase crop yields, improve animal health, reduce waste, lower carbon footprints, and improve scalability by easing the burden of labour-intensive tasks.
What do agritech companies do?
AgriTech companies work on products, services or applications derived from agriculture that improve various processes. Technology and data can open new opportunities and help solve problems with production, traceability, and the preservation of natural resources.
WOW! Momo is a quick-service restaurant that is growing rapidly in all parts of India. This is the first and only restaurant with the biggest momo supply chain. In over 250 cities, it offers its momos of various varieties and delicious sauces. Momo is a common dish in Nepal, certain areas of Tibet and India.
Sagar Daryani and Binod Homagai are the founders and owners of Wow! Momo established the brand in 2008. Both of them studied at St. Xavier College, Kolkata. Their success can be interpreted by the revenue they generated for INR 120 crores for the year 2019.
The business was initiated with starting investment of INR 30,000 and within a few years, its valuation raised to crores. Wow! Momo extended its franchise in Chennai, Cuttack, Cochin, Rourkela, Puri, Bhubaneswar, Kolkata, Delhi, Mumbai, Gurugram, Faridabad, Ghaziabad, Noida, and Bengaluru. In these cities, it currently has 254 outlets.
Sagar Jagdish Daryani and Binod Kumar Homagai from Kolkata started Wow! Momo. They drew their inspiration from their love of momo’s and dreamt of starting a Momo business.
Sagar’s parents initially invested INR 30,000 and with this money, the founders started their venture. They started it all in a 200 sq. ft. size kitchen with one table and two hired cooks on a part-time basis with a nominal pay. Raw materials were taken on credit from the local grocery shop and this has become their base of emerging business.
Binod Kumar Homgai During the Initial days of Wow! Momo
On July 15 Wow! Momo raised their first seed funding of $100 million led by the Indian Angel Network. In addition, in 2017 they raised $440 million led by Lighthouse Funds. The brand was climbing the stair of success ever since and hasn’t looked back.
Marketing Strategy of Wow! Momo
Initial Phase of branding Wow! Momo chose the colour yellow for kiosk promotions and to organize marketing campaigns.
Wow! Momo Kiosk
They used the idea of giving momo samples to their customers which clicked instantly and which helped their sales go up rapidly. Social media platforms like Instagram, Facebook, Twitter, etc. helped in advertising and promoting their brand further with their consumers
Their unique selling proposition is their pan-fried momo’s. Both veg and non-veg momos are available. A few of their most famous momo’s varieties include steamed momo’s, chicken momo’s, schezwan momo’s and prawn momo’s. They even have a range of momos for vegetarians that is corn and cheese momo’s, mushroom momo’s, etc.
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The target customer base of Wow Momo is students and working professionals. They cater to this particular customer base a lot as Momo is fast easy bite food and extremely affordable.
Expansion Plans of Wow! Momo
The brand also aims to initiate the opening of cloud kitchens to meet its customers online using food platforms like Zomato and Swiggy
By 2021, 350-400 outlets were planned and INR 300 crores turnover was also expected in terms of profits.
More complex and diverse Momo flavours are also added to the Wow Momo’s menu.
More inventions like “chilled momo’s,” gluten-free momo’s for supermarkets, etc. are available in their kits. In particular, in the Middle East, the brand also seeks global opportunities.
What Sets Wow! Momo Apart from others?
Wow! Momo competes with street momos vendors who sell momos at a lower price. The high quality, hygiene and different flavours of momos give a competitive advantage to Wow! Momo over the street vendor.
Momo represents a mix of consistency, flavour and diverse varieties in its exclusive product of diverse momo’s. Nowadays 12 different momo’s flavours are available in 3 types, e.g., steamed, fried and pan-fried momo’s. Flour variants are mostly mainly white and brown.
Wow! Momo Variety
They fry these momo’s to give them Indian tastes with various sweet or spicy sauces.
Furthermore, they have Momo chats, Tandoori momo’s, momo’s fried, Momo Burgers named MoBurg. The company also carries on its menu a special dessert called ‘Chocolate Momo.’
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Wow! Momos use platforms like Zomato, Swiggy and etc., to help their customers to give them helpful feedback and rate their food. This in turn helps customers also to check if the restaurant is good to eat or not. Reviews help to boost the business and interact with customers. It helps to rectify any issues the customers face with quality, service and etc.
Conclusion
Wow! Momo’s founders began with an idea and this idea spread throughout the country. Your commitment to work and your passion for your goal set an example for others. The two entrepreneurs of the brand did not think much about failures when they started their business.
As an entrepreneur of a startup, believing in the idea and its success is more important. The brand has proven to be able to put anyone on a path to success even with limited resources to start with.
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Their first outlet was a stall in the supermarket. The founders Sagar Daryani and Binod Homagai would approach every customer with momo samples asking them to try their momos.
What was the initial investment Wow! Momos?
The founders had borrowed INR 30,000 from their family initially to kickstart their business.
What is Wow! Momos unique selling proposition?
Their unique selling proposition is their pan-fried momos and they have different varieties of momos.
Who are the competitors of Wow! Momo?
One of the biggest competitors of Wow! Momo is Roll Mafia.
What was the origin of Wow! Momo?
The origin of Wow! Momo’s was in Kolkata. The founders started making momos in a small kitchen which was a garage with an investment of Rs 30,000.
India-based social media apps have seen a rise in the country and worldwide, after the prohibition of the usage of TikTok and some other Chinese apps in India. The Prime Minister of the country has been asking the citizens to shift their usage to “Made in India” apps to work towards what we envision as an “Atma Nirbhar Bharat”, which is the vision of the PM to make India a self-reliant nation.
So, here’s a look at some of the best Social media apps made in India that you can use:
Here are the 9 best Indian social media apps people can use.
Sharechat
ShareChat – Indian social media app
ShareChat is an Indian Social Media app. It is a social networking service that is growing to become one of the best social media apps for chatting with its headquarters in Bangalore, India. Mohalla Tech Pvt. Ltd is the parent company and they were the ones who developed the app. Its initial release was during the month of January 2015. ShareChat is available in GooglePlay and also for iOS users. You can use Share Chat in over 15 different languages.
The company was started by Ankush Sachdeva, Bhanu Pratap Singh, and Farid Ahsan, who were graduates of IIT Kanpur. This Mobile Application has 250+ Million monthly active users.
ShareChat offers features that include private messaging. You can even tag people in videos using this platform. This platform also allows you to share social content with other unknown users such as videos, jokes, songs, and other language-based content.
ShareChat’s parent company Mohalla tech has acquired some companies lately including Transversal, a tech-owned short video platform; Elanic, which is a Bengaluru-based online fashion marketplace; Member, which is a meme discovery and sharing platform, and Circle Internet, which is a hyperlocal information platform. All the above platforms were acquired for undisclosed amounts.
Koo
Koo – Indian social media app
The app was earlier known as Ku Koo Ku. It was founded by Aprameya Radhakrishna who is the current CEO of the application, and Mayank Bidawatka. In August 2020, the app won the Government of India’s Atmanirbhar App Innovation Challenge.
The app won the Aatmanirbhar App Challenge, which was organized by the Indian government to foster local innovation. While Koo has many of the same capabilities as Twitter, it also lets users publish in Indian languages other than Hindi.
One of Koo’s selling advantages is that it is available in numerous Indian languages. “To connect with Indians in Indian languages,” it says on its website. Koo can be used on a computer (website) or on a mobile device (app). It’s available in the Google Play and Apple App Stores, and users may sign up with their phone number. Currently, English, Kannada, Tamil, Marathi, and Telegu are supported by Koo. Support for Bengali, Gujarati, Oriya, Malayalam, Punjabi, and Assamese is also in the pipeline, according to their website. A user can write up to 400 characters of text, which is higher than Twitter’s limit of 280 characters. All multimedia functions, including audio and video recording, are likewise supported by Koo.
Chingari
Chingari – Indian social media app
Chingari is an Indian-based short-video platform. It was launched in the year 2018 in the month of November. It is a video-sharing and social networking service where the users can create short videos.
Chingari lets its users create videos that provide features to lip-sync, dance, voice-over movie dialogues, etc. The ban of TikTok has led this social media video app to gain a lot of popularity in India.
Josh
Josh – Indian social media app
Josh is an Indian-based short video platform It was launched in the year 2020 in September by Dailyhunt. Dailyhunt is an Indian content and daily news application which is located in Bangalore, India. It provides content in 14 Indian languages. It was founded by Umesh Kulkarni and Chandrashekar Sohoni who were ex-Nokia employees. It was released initially in the year 2010.
The short video platform, Josh has short videos which are trending and viral that you can share with your followers. The app lets you create your unique videos. The App has videos on dance, music, comedy, jokes, and pranks. It also has videos on various challenges, pets, cooking.
The Mobile application has an easy-to-use Josh beauty camera with real-time filters, face stickers, special effects, makeup camera, emojis. Etc. You can even create Duet videos on Josh. You can share the videos on WhatsApp or Facebook and you can set it as your status.
Josh is India’s number 1 Short videos app. The launch of this platform is considered to be the next step by Dailyhunt to release more apps in the future.
Flik is a social media app that is trying to change the experience of chatting by making it much more enjoyable and is gearing to stand one of the top social media platforms made in India. The app provides a feature that is a mixture of a social media app and a dating app. It was founded by Bahadursinh Jadeja and launched on the year 10th of September 2019. The parent company of this mobile application is Loopytime Pvt. Ltd.
You can connect with new people using Flik. Flik helps you in finding friends and increasing your contact. It has an additional feature which is for dating and you can match with a like-minded person on the app. Flik can be considered a dating app as well.
Flik is one of the few mobile applications that provide features such as social media and dating in a single platform. The app can be used in Hindi. It provides features such as personal messaging, video calls and voice calls, audio messages, etc. If you would like to add live stories of the content Flik allows you to do that, flik is one of the social media sites that help you to share it with your friends.
Flik allows you to share files in any format such as pdf, ppt, word, mp3, excel, Apk, zip, and much more. Flik is rated for 18+. It has 10K+ downloads on the Play store. The app is available in the Play store and the size is around 12 MB.
Moj
Moj – Indian social media app
Moj app is a social media platform for video sharing and its parent company is ShareChat, and is owned by Mohalla Tech Private Ltd. Moj was founded by Ankush Sachdeva, Bhanu Pratap Singh, and Farid Ahsan. It was founded immediately after TikTok along with other Chinese apps was banned in India after the India-China situation in 2020.
The social networking platform began its journey on 29 June 2020 and in just two days 50 thousand downloads were made from the Google Play Store. The main features that it offers are special effects, emoticons to use on your videos, and others. Different genres of videos can be made like comedy, education, dancing, and acting. The duration of the videos can be of 15 seconds to 1 minute.
The app is growing to be one of the most popular social media with a support of over 15 languages and in January 2021, it has crossed 100 million downloads. In 2021, it generated $102 Million in revenue.
Mitron
Mitron – Indian social media app
Mitron is launched by Shivank Agarwal and Anish Khandelwal on April 11, 2020. It is a video sharing app that provides you with the feature of creating, editing, and sharing your videos. With just a size of 26 Mb, it can easily get fit into your phone space without any problem.
The features that the offers include a cool range of transitions, special effects. Apart from that, the users can edit their videos as per their requirement and there are various types of audio to choose from and can be used in your video. The app is free. Mitron offers more than 15 different categories for content. This app is very popular in the Indian Short video content ecosystem.
Leher
Leher – Indian social media app
Leher is an India Social networking platform that provides room for audio and video discussion. It was founded in the year 2018 on the month of August by Atul Jaju and Vikas Malpani. It is a live discussing platform and any topic can be discussed here with your community and friends. You can also join the discussion of your favorite topic here.
It is easier to interact with the audience and one can do live Q&A, polls comments, and one can also send a direct message to the person they want to. The person who is hosting a discussion, and invite other people of their choice in the discussion and can ask them to participate in it. Stickers and Emoji reactions are also offered to the users to make the discussion more fun
Leher made revenues close to Rs 11 lakhs in FY20, which was a laudable rise from Rs 4 lakhs, which is managed in FY19. It is a competitor of the Clubhouse app.
Kutumb was founded in the year 2020 by Abhishek Kejriwal and Mohit Sharma and is a social networking platform. Through this app, one can get connected with people through their communication and can share images, videos, news, and other things. All of these can be done in your choice of regional languages.
During the time of Covid’s second wave, it is through the help of Kutumb app that numerous NGOs managed to collect donations to help the victims of the Covid-19 disease and prevent or overcome its dreadful effects.
Conclusion
There are a lot of other famous Indian-based Social Media Apps and we would definitely be able to find a lot more different social media platforms coming up in the future. Some apps like Houseparty, a messaging platform; Trell, which is similar to Pinterest, Helo, and Vero social media platforms, and many more.
4.7 billion social media app downloads were recorded at the end of the first half of 2021 with Asia leading the charts. India is the leader of social media downloads, as per the same report App Annie. Therefore, every second, someone or the other is registering on one of the popular social media sites including the made in Bharat apps. If you haven’t visited these websites/platforms yet, now is the time to do so!
FAQ
What is the first Indian social media app?
Bharatam is India’s first own Social Networking platform. It is a platform of the Indians, by the Indians, and for the Indians.
How many Indian apps are there in India?
There are more than 161,022 apps from Indian publishers on Google Play.
Whether it’s a kid or an adult, everyone loves soft drinks. A source of refreshment and a way of quenching your thirst, soft drinks have made a place in everyone’s life quite vigorously and for a very long time.
The global market of soft drinks is said to be about $994.7 Billion and by 2027 it’s going to be $1.4 Trillion. Leading the industry from the front is none other than Coca-Cola. It has always been a fan favourite for decades and it continues to be one till now.
When we talk about a popular cold beverage that is a favourite of almost everyone, we cannot miss the world-famous Coca-Cola. Almost everyone has a sip of it in their life. It is one of the most popular soft drinks companies and is loved immensely by people.
So, what makes this brand the favourite of the world? In this article, we will find out about the marketing strategy of the biggest soft drink brand, so without any further ado, let’s get started.
“The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.” – Peter Drucker
Coca-Cola, the multinational company first started its journey in the late 19th century. Interestingly, at first, it was sold as a patent medicine. Dr John Pemberton was the creator of this now world-famous drink. The first sale of the drink started in 1888 and since then it has never looked back, now the company sells 1.9 billion soft drinks every day.
Coca-Cola Bottle Evolution
Coca-Cola can be found in more than 200 countries in the world and the largest shareholder of the company is Warren Buffett. The headquarters of the company is situated in Atlanta, Georgia, United States of America.
Coca-Cola – Target Audience
The best thing about Coca-Cola is that it generates mass appeal which means it is made for everyone; the main audience that it targets is of 10 to 35 years of age. Not only that, it has an option of diet coke for those who are health conscious and above the age of 40.
It comes at different packaging and price and is therefore available for every income level. Although the main audience of Coca-Cola has to be teenagers and young adults as the brand recruit film stars and pop start to promote it and appeal to their audience.
Coca-Cola – SWOT Analysis:
Strength
It is already a known brand and is existing for 130 years, so naturally, people trust this brand and want to be associated with it. It is found in over 200 countries in the world, one can find it available, anywhere they go.
Celebrities and singers are roped in to promote the brand on the global front, which makes it more attractive especially in front of young customers. Coca-Cola has also tied up with different restaurants that will serve their meals with a bottle of coke.
The loyalty of the customers of Coca-Cola is pretty insane; they prefer this brand of soft drink over others and have been doing it for a long time.
Weakness
One of the prime competitors of Coca-Cola is Pepsi, another globally recognized brand of soft drinks.
Opportunities
Coca-Cola hasn’t indulged in the snack business unlike its competitor Pepsi, so it’s kind of lacking various opportunities because of that.
Threat
People are being more health-conscious, and as Coca-Cola is a carbonated drink that contains sugar it is not good for health. Plus this causes diabetes and other health-related issues which is why doctors suggest people avoid soft drinks.
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The brand positioning of Coca-Cola has been done in such a brilliant way and because of that, it has been able to enjoy its current success. Undoubtedly, when a brand is positioned in a unique way, it is bound to get recognized by people. It has always been a high-quality drink that is made to be enjoyed by friends and family.
As a proper drink for refreshment, Coca-Cola focused on promoting it consistently and promotes it as an epitome of positivity and happiness that must share with everyone. This way, they are able to position their brand in such a way that it grabs the attention of everyone. It is said to be one of the most valued companies in the entire world and has total assets of $86.38 billion.
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Coca-Cola’s campaign has always been a hit in front of the people; they have organized some of the most popular campaigns over time. Probably one of the most popular campaigns of all time of the brand is the ‘Share A Coke’ campaign.
It was a major hit, in this campaign the coke bottle was labelled with Share a Coke with friends or family. Another version of the campaign was launched where instead of the brand’s logo, people’s names were labelled. It was a successful campaign and increased the social media reach of the brand tremendously.
People shared their name-labelled bottles on every social media such as Twitter, Facebook, Instagram, and others. Not only has it increased the sales of the company but also somehow psychologically create a more intimate relationship with the customers and provide happiness to them.
Coca-Cola – Celebrity Endorsement
Different celebrities from different countries are roped in as brand ambassadors of Coca-Cola. In India, lots of popular celebs have been the face of the brand, Bollywood actor Aamir Khan has been in the business of endorsing Coca-Cola for almost a decade.
After him, superstars Deepika Padukone and Farhan Akhtar have been a part of it. Then we had Alia Bhatt and Siddharth Malhotra, singer and actor Diljit Dosanjh, and actor Ranbir Kapoor. In 2021, Coca-cola extended its partnership with BCCI president and former Indian cricketer Sourav Ganguly as its brand ambassador.
Coca-Cola is a famous brand whose marketing strategy made it the unforgettable soft drink that is ruling the beverages industry for a long time. Even after facing strong competition from its competitors, it has been able to hold its position and crown and stayed undefeatable.
It tries to improve its relationship with its customers by creating amazing campaigns and advertisements. They use social media and other technology to their best limit to reach more and more people and that is their secret of success.
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Coca focuses on online commercials, print media, sponsorships, influencer marketing, and celebrity endorsements. It also prioritizes its brand and consumers over its product.
How does Coca-Cola measure customer satisfaction?
Coca-Cola conducts various questionnaires and surveys to evaluate customer responses.
Who is Coca-Cola’s biggest customer?
McDonald’s is one of the largest restaurant customers of Coke.
A workplace is where we spend one-third (8 hours) of our day which is more time than we do spend at home. Every company focuses on productivity. There are some milestones that people have to go to make work successful and tangible. Deadlines are key areas that have to be met in order to measure success. Some managers put unnecessary pressure on employees like extending working hours. Ideally, this cannot be a parameter to measure success and effectiveness. Motivated employees always remain positive and the opposite is demoralizing.
According to a survey, 75% of the reasons people quit come down to their managers. As the boss, you need to have the capacity to monitor each and every employee. When you realize some funny character in an employee, make a quick action and attend to their attitude. As an employer, have you noticed that your employees have started to withdraw? Reduce stress by observing the following tips on how to Inspire Employees to Work.
Flexibility in working hours should be encouraged to Inspire Employees to Work. Office time and personal time must blend. Keeping people at work throughout does not increase productivity at all instead employees get burnout. Flexibility makes employees work to achieve set targets within the specified time. After work, they get to attend to their personal issues effectively thus creating a work-life balance.
Set time for Break
Human beings are made to concentrate up to a certain period. Downtime for employees is very vital. Making employees work without break is unhealthy and production will be less. Burnout is eradicated when employees get time to be out of their desks for a cup of tea or water. Fresh ideas are conceived while being outside a normal work environment.
Structured Meetings
As an employer, avoid overwhelming employees with unnecessary meetings. It is a very terrible situation when people attend meetings just for the sake of culture. Meetings are made for updating and getting ideas from each other so organize an effective meeting only. Avoid wasting the time of employees, by organising unnecessary meetings.
Transparency
Information sharing is very crucial in a company. Employees are just like investors and they expect such treatment. Let them be at par with information, transparency makes employees attach and have passion with the company and also helps in winning their trust.
Develop Work Schedule
It is very tiresome to work blindly. This brings a lot of confusion when you’re trying to deliver the work. Work schedule helps in planning for activities. This is the only way to track and prioritize information. Allocation of tasks is done effectively. Teamwork is embraced, as people involved will understand work dynamics and work cordially and not based on fear.
Work as a Family
Despite the workplace bringing people together from various backgrounds, employees feel honored and respected when they are treated as a family. This is a place where we are driven by a common goal. Give employees your back just like any other member of your family. Stand with them and don’t let anybody abuse them. This is a very important point on how to inspire employees to work.
Treat Employees Equally
In a working environment, understand that no one is special than the other. Management should be concerned about everybody and not some hence productivity. When there is a difference in a workforce, teamwork will not be guaranteed and therefore the workforce will be split, which will in return be a hindrance. Favouritism brings discouragements among employees and brings division among employees.
Capacity Building
It is a very embarrassing situation when employees don’t know what to do. You always feel out of place and feel frustrated. It raises morale when you train employees to understand their work better. Proper work can be done with confidence only.
Provide Right Tools for Work
Most of the bosses demand much from employees while they know very well they have not equipped employees with tools. Employees feel harassed. Provide them with adequate and functional tools to facilitate their work. Tasks and deadlines will be met on time.
Participatory Approach
People are always allergic to changes imposed on them. Learn to engage employees in the decision-making process. For example, based on the kind of work that you do, get to know how people feel about the sitting arrangement. Get feedback from them, harmonize their concerns, and definitely this way, you will be able to address their needs better.
How to Retain Employees in an Organization
Every business or company needs employees to run effectively and meet its business needs. However, hiring new employees can become a tasking job causing levels of frustration to rise and hindering the progress especially when the company has just started. Thus, every company should learn Employee retention strategies in retaining its employee base.
Here, we bring you employee retention strategies and how you can inspire your employee so that they are satisfied and content with their work.
Create a Healthy Work Environment
This is one of the best Employee retention strategies for any company. As a start-up, there is a lot of work pressure on the employee to meet deadlines and make faster progress; however, employees tend to make mistakes under pressure. When such situations arise, make sure to not criticize or pressurize the employee by reprimanding him; instead, help them to become more efficient in their work.
Transparency
Maintain an office policy where everyone works with a clear knowledge of all the things going on in the company and is treated equally on all fronts. This is also one factor in employee retention strategies. All employees should be able to put forth their ideas and suggestions regarding anything. This gives an employee the sense of being involved and the more involved a person is, the more likely he is to stay.
Rewards
Your workplace is like your second home, hence, treat your employees like family. Give them occasional rewards on their success or any big achievement that the company makes, this will help in Employee retention strategies. Give them yearly treats that are personalized for them like providing them with a paid holiday or some complimentary leaves and gifts that they would like. Incentives may also be a good way to encourage employees, although gifts have a better impact in keeping them happy.
Do Leave and Staying Interviews
If you are unable to understand, why employees are leaving, ask them. Your human resource team can arrange a leaving interview for every person that is quitting their jobs and you can take their feedback to improve your companies’ policies. It helps in Employee retention strategies for your startup or business. Apart from this, you can hold interviews of the loyal employees asking them the reasons for their stays and what did they like about the company and what would make them leave. Assess all the feedback and improve yourself.
Provide Them With Small Perks
Give your employees some facilities to improve their lives so they can work better. A complimentary transport service or free lunch would work wonders. This will give a boost to employees and help in Employee retention strategies. Some paid leaves can also be given in order to make the employees loyal. The money spent on these things will be way less than the money spent on recruiting and training new employees which is not only a waste of money but time as well.
Hire smartly
While hiring employees make it a point to know whether that person is actually suitable to work in the company’s environment or not. Every company has a different culture and discussing that culture with the employee can go a long way to get an idea of whether the person will be suitable or not.
Keep a Tab on Everything
Even though start-up co-founders get really busy after the successful take-off of the company they should take out some time to check how the company is working. Recruiting a management team is not enough, founders need to look at every department and know whether the work environment is good or not. Sometimes, this can bring unexpected things in the light which can be corrected only by the bosses.
Respect the Work-Life Balance
Your employees have a life outside work and that should be respected. The employee works for the company during office hours but working beyond that is their own choice. So don’t make employees do more than they have signed for. This is one of the most important factors for employee retention strategies. Yes, there can be times when you need them to work a little extra but that should not become a daily routine because an environment like that will drive people a way to look for jobs that provide flexible working hours.
How to Keep Employees Happy and Motivated
Are you a small business owner? Do you wish to improve the office environment? The key to a successful business is to keep employees happy. It has been proven that a person is most productive when they are happy. So if you have a happy task force chances are high that your company will make tremendous progress. Keeping Employees Happy is of the utmost importance to your company and here are some ways to keep them happy.
Help Your Employees Feel Valued
If your employee is doing a good job appreciating their effort is very important. Thank them for the work they have put in and make them feel that you value their contribution. There goes a lot into doing some work, and giving appreciation might not be a big deal for you but will surely make your employee’s day. This will make him want to work harder and better. If something goes wrong, do not punish or be harsh on them. They are adults and know that they have made a mistake. Help them correct their fault or give them some extra time to mend their mistakes. Also making efforts to know the employee and be humble to them. An occasional small talk about their family and their kids will make the employee feel as if they are important.
Positive Atmosphere
Try to create a positive atmosphere in your office. The workspace should enough room for your employees to walk and move. There should also be spaces for your employees to interact with each other or relax while taking a break. A dark and congested office will never improve the work environment. Place some greenery around the office. Let some fresh sunlight come in so that people feel recharged. Also, change your air filters and get the office cleaned regularly. A clean environment is sure to make a person feel more relaxed and will help in keeping employees happy.
Involve Them
Involve your employees in everything. Take opinions on every topic. They should know what business the company is doing and how their work is affecting the company. You can set up regular employees meetings for the exchange of ideas. The meeting should not be excessively serious and all work. It should have a light environment and everyone should be given a chance to share their thoughts and opinions any topics. This will make them feel more involved in the company matter and give them a feeling that they have a responsibility to hold. This is one of the most important points to Keep Employees Happy.
Let Them Work at Their Own Ease
With so much technological advancement you do not have to follow the old ways and lock your employees up in an office. Let them do their work at their own ease. If they have an emergency, let them work from the comforts of their houses. If they are completing their work, it is not necessary for you to constantly have them in front of your eyes.
Give Them Time off Work
If your employee has been doing a good job all year giving them an extended vacation is not bad. If they are a good employee, they will make sure that they complete their pending work on time. This has another advantage. The other employees will see this and want to work hard and earn their own perks.
Encourage Them to Stay Fit
A fit person is always a happy person. This does not mean that you need to tell your employees to go to the gym every day and lift weights. All you need to do is motivate them. You can build tennis or football or basketball court in your office. Or you can have an indoor gaming area where your employees can come and ease out the stress and also get some exercise. This will keep the endorphins in their body running and in turn, it will help Keep employees Happy.
Conclusion
As a leader, you should act as a role model. Employees would always imitate your actions. Show concern to employees by responding to their needs on time. Appreciate them by celebrating their achievements and where applicable give incentives. All this enhances production and inspires employees to work. Good employees are the backbone of the company and retaining them will go a long way in making the business a success, hence, keep these points in mind to maintain the smooth progress of the company.
FAQs
How you can motivate your employees?
To motivate your employees, you should praise them, treat them with respect, don’t be impartial, and try to listen to their concerns.
What are the best retention strategies?
Provide your employee’s growth opportunities. Engage with your employees, reward them for their work and be impartial.
What is the key to employee retention?
The main points to do is to provide job satisfaction to the employee and keep them engaged, that is how you can retain your employees.
If I ask you what are some of the benefits which are at the tip of your tongue about technology? You might have answered as engaging, helps connect people at a large scale, a platform to interact, and a place to learn new skills. With the boom of technology today, everyone can access the larger world and can learn by pushing themselves closer to the world of globalization. Well, it’s a known fact that with so many advantages comes the question of your security and safety. Are you even safe while surfing the net or while just operating technology? Well in this article we will share with you the concept of EHS software and how you can implement them while handling technology.
What is EHS anyways?
EHS stands for Environment Health and Safety Software. Just like its expanded acronym, it tends to build safer spaces for organizations to work and excel. It’s a tool that helps one to link their organization to a digital platform where it further connects to all safety management objectives unified in one place. It might sound complicated but is as simple to function. The main motive of the EHS software is to ensure your safety while you work with technology.
Pointers you need to keep in mind:
Which license? It’s very important to strategize before you opt for any plan. Make sure the EHS software pricing must be in line with the capacity of your organization.
Customize it for me: The provider of this software is unaware of your requirements, so it becomes very essential to add features that cater to your requirements.
Maintenance and charges: Well looking for EHS software pricing might be a task but you can make it much easier by making sure the annual cost of maintenance is considered.
Features only for you: Each organization has a different motive and that can only be executed when you have the right features installed. Do make sure the added features are the ones that serve your purpose for EHS software pricing.
With Capptions you will ace it
For those of you who are unknown of Capptions, it is an EHS software provider platform that uses innovative features to help you with managing your safety and security. They provide an inspection that is easy for you to operate without any problem. With a comprehensive understanding of security, while handling technology, Cappitions has made an appearance as a fully functional app and a web dashboard. The
EHS software pricing at Cappitions is also very reasonable. They have three (3) basic plans- Standard, Business, and Enterprise.
To end
It might seem intimidating while turning for EHS but businesses and organizations have started performing much more efficiently after they chose EHS. To make your organization sustainable in the long run it’s important to have EHS software. It has always been a two-way road the more you invest in your business and employees the better the return you receive from your clients and customers.
This article is contributed by the multiple couple entrepreneurs.
Work life balance harmony in the life of an entrepreneur is one of the big challenges they face. Differentiating between work and life becomes difficult for entrepreneurs. And when we talk about Couple Entrepreneurs, where both of them are building the same startup, it is quite interesting to know their management to get a proper work-life balance. Building and successfully running a business together and maintaining work-life relationships are equally important.
StartupTalky took the initiative to know how couple entrepreneurs manages their work-life relationships. Let’s take a look at some of the startups founded by couples and their view on managing personal & business relationship.
Zypp Electric | Founders: Akash Gupta & Rashi Agarwal
Zypp Electric Founders | Akash Gupta & Rashi Agarwal
Entrepreneur couples are usually busy 24×7 in building their ventures. Most of the time, the work becomes life and personal life goes for a complete toss. However, at the same time, they enjoy and value the time spent together at work and in their personal lives, where they can learn, solve problems, and discuss strategies together.
Rashi and I, we both try to balance our work-life relationship by taking 2-3 days off at least once in 6 months and planning a trip together to a new destination which helps us unwind, recharge and realize that we have a couple life apart from work too. We also try to make sure that we watch movies, TV series together as part of our couple goals.
We are residing in a scenario where the global corporate community is evolving on the startup culture successfully! Startups are independent and flourish through the actions and efforts put in by the entrepreneurs in constructing them from scratch. While being on a similar note let us address the qualities that couples who start startups share. Studies do present mixed reviews on this one but let us view this in a positive light.
Same workday cycle – startups in their early days have no fixed timings or schedule as one has to put in all their time, effort, heart, and soul into its making. The same workplace and working hours gives the couple an added benefit to be on the same work cycle even while working for longer durations or through vague timings.
Aligned passions – couples who build a startup together are committed to similar elements and are compatible in their thought processes which in turn reinforces their communication, connection and boosts the growth of their startup.
Complimentary relationship – while the couple does not have to acquire the same skills, their creative differences can complement one another and they can work over their respective domains in the startup. They can give their best shot where their specialization lies.
Working the negatives – building a startup from scratch is no joke and it is nearly impossible that two people, even though a couple, would blatantly accept whatever the other one proposes and hence a couple constructs their professional relationship with the same patience and compassion in the way they built their own relationship. Since they are well aware of each other’s choices and recognize each other’s differences it becomes easier for them to respect the other one’s judgment and make space for it.
The difficult discussions – when a couple works together towards creating something substantial for themselves they realize the value of putting the other life decisions on hold which can be taken care of later in life.
In the contemporary world, entrepreneur couples are setting newfound goals for all the couples around them. With the hustle and bustle of the entrepreneurial work life and long hours they are managing to balance their professional and personal life with a bang!
Some significant factors that lead to this work-life balance:
Set boundaries in the boardroom and the bedroom – when the couple is working, even if at different offices, it is necessary to set boundaries when it comes to professional talks and personal talks. One must keep the two separate in order to maintain a healthy relationship and respect for their personal space.
Time management – the right management of time is the key to success in life whether it is in personal life or in professional life. Couples must discuss and divide their time as per the requirements of their home, partner and their official needs. You must plan your week beforehand and fit in some personal time exclusively for each other.
Clarity on finances– with the busy schedule of one’s life, couples often forget to discuss the crucial matters that affect their personal lives. One such matter is the finance. A detailed discussion and agreement on the expenditure, budget and vacations is a must to avoid any disagreements in the future.
Keep the spark alive – while being busy with work do not forget the small things that laid the foundation of your partnership. It is not about fetching the stars, all about the little gestures. Surprise each other with each other’s favorite things, make time for movie dates or watch a season together, run small errands for one another and just keep the love alive in the best possible ways!
Be supportive – any relationship progresses on the love, respect, and support, that the partners give one another. While a million things go wrong on the professional front, at least the partners should be sure of having each other’s support through their darkest days.
Patience is the key– in the midst of the heavy days, practice to remain patient and calm with your partner. Not every day the sky shines bright and you must remember that as a couple. Do not lose your temper together on each other, it is not you vs. the other, it is always you both vs. the problem. Try to find solutions to disagreements rather than fueling them with ego and harsh words.
Zymrat is an Innovation-led D2C Performance Wear Brand dedicated to creating world-class athleisure wear products for the Indian audience.
Ujjawal Asthana, Co-Founder & CEO, Zymrat:
I started Zymrat with Ankita while we were dating and got married while taking this journey together. The decision was very simple for us, if we can trust each other with our lives, we can trust each other with our dream. To be honest, I am at a point where I cannot imagine anyone else as my co-founder. Through all the highs and lows, doing a startup together is nothing less than bringing up a baby together. I consider myself lucky to have met my co-founder and wife through the common interest of fitness and building a brand. Zymrat is not only allowing us to live our dream of building a world-leading performance wear brand out of India, but it is also allowing us as a couple to spend the maximum amount of time together doing what we love and cherish. From getting the first order to spending sleepless nights shipping 1000s out of our 2bhk flat, to raising funds, to building a dream team, we have done it all and we continue to do it. If both partners share a common goal and are equally passionate about the journey, the joy and the depth of the relationship reaches unprecedented levels. I wouldn’t do it any other way.
Ankita Riva, Co-Founder & COO, Zymrat:
Ujjawal and I are married, and we are also building Zymrat together. Zymrat is an innovation-led D2C performance wear brand, and we make world-beating products for everyday athletes. Our vision for Zymrat is audacious and I am actually glad that we are doing it together. Entrepreneurship is a long road, an emotional roller coaster I’d say, and co-founders play a crucial role in each other’s lives, and if they are related to each other then the role becomes even more critical. The journey of entrepreneurship is so demanding, deep, enriching and satisfying that eventually, the line between work and life starts blurring out. If you are into it together as a couple, then you care more about each others’ physical and mental health than merely thinking about work-life balance, while still having eyes set on the vision. Turning off the laptop for a couple of hours every day, ensuring that you are having dinner together every day, going out on a date night every now and then are a few great ways to keep life balanced. If you have a common interest outside of work then that interest automatically takes care of the balance. In our case, hitting the gym together whenever we can keep doing wonders.
The Nestery | Founders: T S Viswanathan & Vaishnavi Rangarajan
The Nestery Founders | T S Viswanathan & Vaishnavi Rangarajan
The Nestery is a Context-led Vertical Marketplace focused on Helping Modern Indian Parents to discover and pick up the right products just when they need them.
We actually almost don’t manage. Pandemic however has been somewhat of a blessing in disguise because we’re able to sort of work from home and as a result, you know, at least we are physically present at home while you know our six-year-old attends school and lives her life. In terms of as a couple, it’s actually good for us because we know each other for over 12 years and we’ve been married for a good 10 And it’s been a good experience because when it comes to work, we have very different roles and responsibilities. So there is no stepping over each others’ toes. But sometimes, yes, living and working in the same space for 24 hours by 365 can get overwhelming. I know, for example, TSV goes for playing poker. He has a set of friends with whom he goes out and meets every weekend. I am on the other hand, like 100% homebody if you just let me be I will be home alone. And so that’s really helpful manage work in life.
Naina and Prateek Ruhail, Co-founders of Vanity Wagon – India’s first and largest clean beauty marketplace, tied knot in 2012 and have a 2- years old daughter. They being the youngest clean market entrepreneurs in the country, have onboarded mammoth brands like MamaEarth, Juicy Chemistry, Daughter Earth, Blossom Kochhar Aroma Magic to name a few out of their 105 brands client portfolio since the inception of the brand in 2018. With the launching of this platform, they aim to establish an incomparable and yet trending e-commerce platform with a concept of clean beauty.
The couple has grown the brand multifold in these years. The annual turnover of Vanity Wagon for the previous financial year is USD 0.75 Mn and have clocked close to 35k orders, average ticket size of USD 14 till date of a value of USD 0.5 Mn. Since 2019-20, revenue upsurged by 5 times. With an aim to become the largest selling clean beauty portal in the country, they have grown the workforce from 12 (pre-covid) to 22 (post-covid). VW’s monthly users have risen from 30k to over 1lac now and the affiliate network has now reached a remarkable 500-member team from 98 in March 2020.
Working as a couple has a lot of pros, much over the cons. Naina and Prateek understand each other well and that allows them to collaborate well. Also, as a couple they can freely be the devil’s advocate at times, allowing themselves to arrive at the right decision together.
Talking about the secret of managing perfect work-life balance, Naina says, “it’s a lot about respecting and caring for each other and while we work together, we make sure we detach from our work for a few hours when we are home, helping us build some amazing memories and enjoying our time together.”
For entrepreneurs, perfect work-life balance is a mirage. There is no such thing as a balance when you love your partner and what you do professionally together. It’s a full-fledged mental fixation. Giving “time” is significantly less crucial than paying attention. You may spend all of your spare time with someone, but if you’re not mentally present or making an effort to improve as a partner and lover for your spouse, you’re squandering your time.
While it’s unrealistic to expect you to leave work at the office once you get home, you may make an effort to turn off work conversation for a period of time in order to be present for your family. Make it a point to schedule time for yourselves on a regular basis. Both the partners individually need to find out their passion areas and devote time towards it. Outside of the company, and even outside of our marriage, couples have their own lives. Make an effort to keep up with the activities that offer you joy and allow you to escape from the demands of everyday life. Also set aside time to spend together, putting business discussions on hold. It’s critical to recognize that your marriage is precious and takes precedence over your business. You’ll have a better understanding and relationship with your partner if you both share that mindset.
The line between work and personal life is frequently blurred, and that’s fine. The commonality of your core values should allow you to work incredibly well together. Everything boils down to your belief system and if that is aligned, your relationship and business will thrive.
The Baker’s Dozen | Founders: Aditi Handa & Sneh Jain
The Baker’s Dozen Founders | Aditi Handa & Sneh Jain
Working with your life partner is like an exciting roller coaster ride and luckily we have managed it well so far. In our opinion, for any entrepreneur, work life balance doesn’t really exist, especially at the initial stage of work. The passion for work, the product, the business is so high that moving away from it is like being away from your comfort and happy zone. The same applies for Couple-preneurs. We both are passionate about our work and thus having a supportive family environment helps concentrate on work in a way where the lack of work life balance isn’t too much of a problem.
However within a few years couples do tend to want some time away from the business and concentrate on their personal priorities whether as a couple or as individuals. In our case the rule we had placed was that we won’t discuss work on Sundays. Sunday’s were earmarked for personal and family priorities. Apart from that, if we talk about stress levels and how to cope with it, then I think the stress levels are very high for Couple-preneurs. But the trick for this is one’s perspective towards a situation. The same stressful situation can be looked at from a lens that motivates and makes you happy.
Inspired by the love of consumers towards local handicrafts as well as the functionality of bags in this active, bohemian, solo, and nomadic lifestyle, Zouk aims to support and encourage good Indian craftsmanship and handicrafts, to keep India’s culture alive for future generations and combine them with modern functionality. The dynamic husband-and-wife duo of IIM Ahemdabad graduates – Disha Singh and Pradeep Krishnakumar, founded Zouk in June 2016 and it has been growing ever since. The idea behind Zouk was to promote the local craftsmanship of India so that the upcoming generations are always closer to the Indian roots and also help the majority of Indian women in the workforce who wear traditional ethnic attires to work. The brand is a Proudly Indian,PETA certified, Vegan and Cruelty-free D2C brand. The brand plans to expand overseas by Financial Year ’23.
As founders, we are the ever-optimists. While we are typically wired in 24×7 on building Zouk, we have better control over our schedules. We also connect with our teams on a weekly basis to align on their team’s priorities and solve any of their blockers. A big part of how we can manage work and life is thanks to our team. They drive most of the execution and hence allow us to think about strategic pieces.
Everyone knows that an amazing team can change the company’s growth trajectory. What’s not said often is that a great team can do wonders to the health and wellbeing of the founders.
ESDS | Piyush Somani & Komal Somani
ESDS Founders | Piyush Somani & Komal Somani
Piyush Somani is the Chairman and MD of ESDS Software Solution Ltd. and Komal Somani is CMO and Whole Time Director at ESDS Software Solution Ltd.
One of the partners has to be a silent observer. What that means is that one of the Entrepreneur doesn’t react at all and are committed to watch everything and discuss on everything and decide on things jointly. If there’s no consensus between both of you, avoid taking that decision unless the consensus is built. Couple Entrepreneurs cannot force their individual decision on each other, that’s the secret to have true partnership with your better half.
Tarrakki | Founders: Saumya Shah & Shaily Shah
Tarrakki Founders | Saumya Shah & Shaily Shah
Building a start-up from scratch is very stressful and sometimes it impacts personal relationships. But it is definitely a good experience to have my partner Shaily Shah, Co-Founder of tarrakki in this journey along with me since the inception of tarrakki. We get to learn new things in the process each day (personally and professionally)while working and it adds alot of value to our work. I personally believe that having clear boundaries between personal and professional life is the key. Another key learning is to know when to switch off from the work and avoid the natural temptation of working 24*7. Also, working together brings up it’s own set of challenges, so it’s important to find strengths in joint wins along the way. However, it is a good experience to have the life partner also be the business partner and together we are game for any challenges that come our way be it at a personal or professional capacity.
AKS Clothing | Founders: Nidhi Yadav & Satpal Yadav
AKS Clothing Founders | Nidhi Yadav & Satpal Yadav
Apart from operating a business properly and economically, a couple who decides to start and grow a business together must achieve that delicate work-life balance that is important for one’s mental health. Many couples operating startups have discovered that setting out ‘personal time’ for one other and their families have helped build relationships while simultaneously growing the business.
It has become difficult for people to distinguish between personal and professional time. And it’s considerably more complicated when the employees are a couple, and it’s even more complex when the pair is an entrepreneur.
Maintaining a healthy level of communication with your spouse is essential when working together. Your professional and personal relationships may suffer if you wind up tiptoeing around one other. It is critical to communicate clearly. Clarify which role you’re speaking from if you’re dissatisfied with something as a coworker but not as a spouse. Failure to do so will result in a great deal of avoidable strife.
A successful professional connection is predicated on a successful personal relationship. You can’t have peace at work, and at home, you can’t have war, so all you can do is prioritize your connection. Even if you see each other every day during the week, you should schedule a date night for the weekend. This will maintain your personal relationship on top of things while also providing you with a vacation from any business-related stressors.
When you’re at work, though, it’s essential to maintain a professional relationship. If you don’t do so, your emotions will get in the way of making complex business decisions. Treat your spouse as if they were a coworker. Make every significant choice as a team while still acknowledging your particular abilities.
Nidhi Yadav: My spouse Satpal and I always set aside ‘personal time’ for each other and our family, which has helped us strengthen our relationship while developing our business. Every weekend we plan a dinner or lunch date and go shopping or picnics along with our family. We always prefer having at least one meal of a day together and make sure to spare some time out of our busy schedule for our daughter.
I believe maintaining a healthy level of communication with your partner is essential when working together, and always keep our professional and personal affairs away from each other and communicate whenever we have any issue.
