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  • Rolls-Royce Innovations | Why Rolls-Royce Cars are So Expensive?

    Everyone has their type and preferences when it comes to cars. Cars are something, the interest which is shared by many.

    In the modern days, there are many types of cars available. For Example- Sedan, SUVs, Coupe, Convertible, Hatchback, etc. One of the common interests of people is luxury cars. Some examples of luxury cars include Range Rover, Mercedes, BMW, Rolls-Royce, and more.

    Rolls-Royce is probably the love and dream of many. Having this car is a status symbol but buying one can create a huge hole in the pocket. As Rolls-Royce is considered one of the most expensive cars. Get insights into the reasons why Rolls-Royce cars are so expensive.

    The History of Rolls-Royce
    Rolls-Royce and Its Innovations
    What Makes Rolls-Royce So Expensive?

    The History of Rolls-Royce

    Rolls-Royce Logo
    Rolls-Royce Logo

    Rolls-Royce’s history didn’t begin with the cars. In earlier times, it was an electrical and mechanical business rooted by Henry Royce in 1884.

    In the year 1904, Royce made his first motor car. In the same year, Royce met Charles Rolls. Charles’s company used to sell quality cars in London.

    The collaboration between the two led to the formation of the Rolls-Royce company in 1906. The first launch was the six-cylinder Silver Ghost. In the very first year, it got the status of the best car in the world.

    In 1990, the company formed a joint venture with Bavarian Motor Works (BMW) of Germany the aero engines. BMW got the license of the rights of the name and logo of Rolls-Royce. Since then, BMW is the parent organization of Rolls-Royce.

    Rolls-Royce and Its Innovations

    Rolls-Royce’s innovations are traced back to the time of World War I. During the first world war, air wars were happening. This created a need for strong and sturdy aircraft. So, as a result, Royce came up with his design of the first aircraft engine- The Eagle.

    The ‘R’ Engine

    Rolls-Royce R Engine
    Rolls-Royce R Engine

    In the late 1920s, Rolls-Royce indulged in the development of the ‘R’ engine. These engines were made especially for air racing. In the year 1931, it created a world record of airspeed at 400mph.

    Merlin Engine

    Rolls-Royce Merline Engine
    Rolls-Royce Merline Engine

    Rolls-Royce has also indulged in the development of Merlin engines. Their Merlin engine motorized Hawker Hurricane and Supermarine Spitfire in the battle of Britain. The demand for Merlin engines increased during the second world war. This demand helped Rolls-Royce earn a position of a strong contender in the aero force from a small company.

    Aero gas Turbine

    Rolls-Royce Aero Gas Turbine
    Rolls-Royce Aero Gas Turbine

    The company has also developed aero gas turbines. They entered the market of civil aviation with Vickers Viscount, the then British aircraft line.

    Trent 1000

    Rolls-Royce Trent 1000
    Rolls-Royce Trent 1000

    Trent 1000 of Rolls-Royce is the only engine suitable for Boeing 787 Dreamliner. In the year 2006, it ran for the first time.

    There are many other engine innovations made by Rolls-Royce. For example Trent 7000, Trent XWB-84, Trent XWB-97, and more.

    At present, Rolls-Royce has a strong deal in five products and services. These are Defence products and services, Civil Aerospace, Power Systems, Electrical, and R2 Data Labs.

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    What Makes Rolls-Royce So Expensive?

    Rolls-Royce is an age-old company that has aged like fine wine. Right from the beginning, it has never failed to develop and deliver the best quality.

    Rolls-Royce cars with their fine and best quality are considered one of the most expensive cars in the world. There are certain reasons which make it so expensive. These are as follows:

    Why Rolls-Royce Car are so Expensive?

    Special Models and Exquisite Features

    One of the most important reasons for the expensiveness of Rolls-Royce is their special car models with exquisite features. The buyers sometimes come up with different ideas to give their Rolls-Royce an exquisite and personalized look.

    For example- Once a buyer requested a car finish that was diamond-studded. Rolls-Royce was keen to take up this challenge. The excellent team of the company crushed many real diamonds. They then mixed these with the color. In this way, with the help of this mix, they added the desired shine to the car.

    The most expensive model of the company now is the Phantom. The pricing of Phantom starts from $450,000.

    Posh Headliners

    The starlight headliner of Rolls-Royce
    The starlight headliner of Rolls-Royce

    The second feature that makes Rolls-Royce super expensive is its headliners. The Rolls-Royce cars come with star-studded headliners. This makes for an exclusive atmosphere for the cars.

    Making these headliners is a super lengthy and effort-borne process. These are created by piercing almost one thousand holes with fiber-optic threads.

    Sometimes, buyers ask for personalization in this feature as well. Since these are star-studded, few prefer to add specific effects of light.

    Exclusive Procedure for Color Coating

    Every car of Rolls-Royce undergoes a special color coating process. The coating process takes a lot of time even before the color selection begins. At last, seven coats of color are used to get the final result.

    This feature is unique and expensive because this too offers the option of customization. Buyers are not limited to selecting from the standard shades of color. They can choose a color as rare as their pet’s color. In such cases, the company makes use of DNA materials to obtain the accurate shade.

    This specific style of color coating is a long process. It requires a great amount of time and effort. Thus, another reason that makes Rolls-Royce cars expensive.

    The Soundproof System

    The best and the most important feature that makes Rolls-Royce cars stand out is its soundproof system. The cars are made with driving mechanisms that are soundproof. About 300 pounds of insulation is added around the cabin while making the cars. This enables the cars to run with no sound at all.

    This feature makes the car’s environment friendly. The soundless rides prevent noise pollution.

    The soundless system adds a luxurious and chic touch to the cars. Thus, making Rolls-Royce expensive.

    A Powerful Identity

    Over the years, the company has been able to create a huge identity for itself in the world. The brand name Rolls-Royce is considered a status symbol for the elite class.

    Rolls-Royce Car Golden Logo
    Rolls-Royce Car Golden Logo

    Almost every billionaire in the world owns a Rolls-Royce car in their luxury car collection. The biggest collection of Rolls-Royce cars is 500 cars. This collection belongs to the Sultan of Brunei. This is the most expensive collection held by a person.

    Rolls-Royce has built a powerful identity for itself in the world. Its identity makes it an associate of luxury. This makes it one of the most expensive in the world.

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    Conclusion

    Rolls-Royce is one word that is exclusive. It makes cars that are one of a kind. The company creates such unique and specific designs for the buyers that if another person wants the same, they have to take the permit from the original buyer.

    The perfect and exclusive blend of the features makes the company stand out. Most importantly it is the luxury and the personalized customization that makes Rolls-Royce expensive.

    FAQs

    Why Rolls-Royce cars are so expensive?

    The prime reason behind the Rolls-Royce cars being expensive is their quality. Another reason can be considered as they are counted among the luxury product that can be custom-made and comes with a number of luxury services. Heseveralst of Rolls-Royce is always expected to be more than the normal range.

    How many Rolls-Royce is in India?

    The exact number for Rolls-Royce in India is still a debatable topic. However, the estimated number is around 25-30 units in India.

    Does Rolls-Royce break down?

    There is one myth surrounding Rolls-Royce that it does not break down. However, in reality, Rolls-Royce can also break down irrespective of the details with which they have been made.

  • How Do Art Auctions Really Work? (Explained)

    Auction houses are a place where property or any kind of objects are sold to anyone who bids the highest. Now there are different kinds of auctions that are held amongst all of them there are Art auctions. In art auctions, different types of exclusive artworks are on sale, and whoever places the highest bid can take the artwork into their possession. They are basically public events where anyone can participate.

    In an Art Auction, any type of art can be sold but paintings are the most common. Now, one cannot hold an art auction without knowing anything about it, it needs lots of work and patience. In this article, we will talk about how Art Auction actually works in real. So, let’s get started with our business.

    “Auction houses run a rigged game. They know exactly how many people will be bidding on work and exactly who they are. In a gallery, works of art need only one person who wants to pay for them.”

    —Jerry Saltz

    What is an Auction?
    History Of Auctions
    Types of Auction
    How do Art Auctions Work?
    FAQ

    What is an Auction?

    An auction is nothing but a sales event where buying and selling of products and services happen through bidding. People compete with each other to get hold of the item of their choice.

    To secure the item one has to bid higher than the previous bidder, the price increases with each bid until no one else is willing to bid more than the current price. For example, if the last bid is $50,000 and no one is willing to bid for $50,500, the item will go to the buyer with the highest bid.

    In an auction, one can find various objects like antique pieces, rare objects, properties, company or some artworks that include painting and others. In every auction house, there is a team of specialists who sets the prices for the items that are going to be used for auctions.

    History Of Auctions

    The exact process of Auction came into existence around 500 B.C. At that time, women were sold in Greece for marriage by using the method of auction. Then in the United States, various properties, agricultural products, and slaves were used to get sold through this method.

    With time, artworks, properties, and rare objects are sold to people. Thanks to the help of modern technology, computers, cell phones can be used for bidding in auctions. Not only that, but we also have various online auction sites like eBay where people can bid to acquire their favourite items.

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    Types of Auction

    There are four types of auctions and they are:

    English Auction

    This is the most common type of auction. It is an open auction where the participants compete with each other by bidding higher than the other buyers to secure the item for themselves.

    The prices of the items are stated by the hosts and then the bidding starts, the participants call out the bids and it continues till no one is willing to bid higher than the last bid. The item goes to the person who is the highest and the final bidder. This auction is common while selling wine, artworks, tobacco, or any kind of antique product.

    Dutch Auction

    This is like the opposite of an English Auction. The auctioneer starts the auction with a high price and the bid keeps getting lower until one of the participants who is a bidder is willing to accept the price of the item. This method of auction is mostly used for flowers, fish, tobacco, and for investment securities.

    First-price Sealed-bid Auction

    It is basically a blind auction, where the bidders submit their bids but are shielded from the eyes of their competitors. Only one bid can be submitted for the auction and there is no option to change it. This method is mostly used in foreign exchange, refinancing credit, government contract tendering, mining leases, and military procurement.

    Second-price Sealed-bid Auction

    This is quite like the First-price sealed bid auction the only difference is that the highest bidder gets the products at the price that was bid by the second-highest bidder. This type of bidding method is used for online advertising.

    How do Art Auctions Work?

    An auction has to follow a process so that it can work out properly, down below are the steps that have to be followed:

    A Short Preview is Given about the Auction

    Art Auction Preview
    Art Auction Preview

    At the beginning of the auction, the potential buyers are given a short preview where they get to see what products are going to be on sale at the auction and what their conditions are. The preview time can a day before the auction or a few hours before the start of the auction.

    Buyers are Registered

    After the preview, the potential buyer has to register themselves with the auctioneer. The process of registration involves the buyer’s details like their phone number, address, and identity proof. The bidders are then given a number card through which they can get identified.

    Beginning of the Auction

    The sound of a bell signifies the starting of the auction. The host or the auctioneer talks about the items and describes them to the bidders and then the bidding is started with a minimum price. Then the bidders start their bidding and the price keeps increasing with the bidders calling out their bids higher than the previous one.

    End of Auction

    The whole procedure stops when there are no more bids and when the hammer comes down, the person with the last bid takes the object into their possession after paying for it.

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    Conclusion

    Billions of dollars are obtained through art auctions and it can only happen when it is done properly. Auction houses need to be careful with anything and everything when it comes to art auctions. If you are a fan of artworks then an art auction is an ideal place to find your favourite piece and let others do the same and to do that the whole process must be followed diligently.

    FAQ

    How do art auctions really work?

    Before beginning an art auction, the buyers are given a preview of the artwork. As the bell rings, the auction starts and the buyer with the highest bid acquires the item.

    Do artists make money from auctions?

    No, artists only make money when their artworks are sold on the primary market.

    Can anyone go to an Art Auction?

    While some of the art auctions’ are exclusive, some can actually be attended by anyone who wants to.

    What do auction houses do?

    Auction houses are in charge of buying and selling goods such as rare items, artworks, or properties through auctions.

    Can auctions be held online?

    With time and the help of technology, auctions are now can be held online.

  • IPO India- How It Works? | Top 10 IPO Listing and Funding 2021

    IPO is a term that many of us are hearing nowadays. The ones who know about businesses and share markets are familiar with it. But few still don’t know what IPO is.

    It is simply a process that makes a private company become public. Investing in IPOs can be a lucrative option to earn great financials in the future.

    IPO investing does seem a good idea to almost everyone. However, it might not always be successful. It is important that you are a well-informed investor who knows about this world.

    IPO has a way of working in India. The entire process gets monitored by SEBI (The Securities and Exchange Board of India).

    About IPO
    How IPO works in India?
    How Does IPO Price is Decided in India?
    Top IPO Listings and Funding India 2021

    1. Zomato
    2. Nykaa
    3. Paytm
    4. MTAR Technologies Limited
    5. Easy Trip Planners Limited
    6. Paras Defence and Space Technologies Limited
    7. Nureca Limited
    8. Clean Science and Technology Limited
    9. Latent View Analytics Limited
    10. Laxmi Organic Industries Limited

    Conclusion
    FAQs

    About IPO

    IPO stands for Initial Public Offerings. As the name suggests it is a process that makes a company available to the public so that they can buy a share of it.

    Any company with any type of business, size, or time of existence can get itself listed for being public. IPO simply helps a company to earn funding through public.

    The company shares gets available to the public after initial public offerings. Investment banks help the company with the IPO process. The money raised through IPO enables a business to grow further. This in turn helps the shareholders to gain profits.

    About IPO Process

    How IPO works in India?

    When a private company needs huge capital which is way beyond its reach to raise, it resorts to other measures. One of the best and lucrative options is to ask the public for investment through IPO.

    A company can sell the shares itself, but this makes the process highly taxing. So, companies tend to hire investment banks to take care of the entire process.

    The process of IPO in India involves the following steps:

    Step 1

    At first, the company creates an agreement with the investment bank. This includes the aimed amount to be raised, security issues, and other details about the process.

    Step 2

    Then they register a statement to the Securities and Exchange Board of India. The statement is then approved by SEBI after proper examination.

    Step 3

    After the approval, the company finalizes the shares to be sold to the public. It also finalizes the price for it.

    IPOs are available in two issues. These are fixed price and book building. In the former, the company creates a fixed price for each share to be sold. In book building, the company provides a range of prices. The people then place their bids within the range to get a share.

    Step 4

    After the price fixations, the shares are available for the public. The interested people then submit their applications for the shares. Then after scrutinizing the applications, the company’s share allotment begins.

    Step 5

    The final step is the listing in the stock market. When the public investors receive their share, they are then listed in the secondary market.

    How Does IPO Price is Decided in India?

    In simple words, it is decided by dividing the entire value of the company by the number of shares in the listing.

    The total number of orders received for shares and maximization of the trades to be executed at the time of stock exchange launch makes for the listing price.

    Top IPO Listings and Funding India 2021

    Zomato

    The online food delivery company, Zomato gained huge popularity with its IPO listing. The date of listing was 23RD July 2021. The issue price was Rs.73. The current BSE and NSE prices are Rs.132.70 and Rs.133.70.

    Public offerings helped Zomato raise Rs. 9,375 crores. Its debut in the share market turned various heads around.

    Nykaa

    Another popular IPO listing of the year 2021 is Nykaa. The beauty and wellness e-commerce company was listed on 10th November 2021. The issue price was Rs. 1,125. The current BSE and NSE prices are Rs. 2,063 and Rs. 2,018.

    The company raised funding of Rs. 5,352 crores through the public offerings.

    Paytm

    The Indian digital payments and technology platform’s IPO listing date was 18th November 2021. The issue price was Rs. 2,150. The BSE and NSE prices are Rs. 1,955 and Rs. 1950.

    Paytm raised Rs. 8,300 crores through initial public offerings.

    MTAR Technologies Limited

    MTAR Technologies, the engineering solutions company’s listing date was the 15th of March 2021. The issue price for the share was Rs.575. The current price at BSE (Bombay Stock Exchange) stands at Rs. 2236.95 and NSE (National Stock Exchange) current price is Rs. 2237.95.

    After the sales of shares, the company gained Rs. 179 Crores through IPO.

    Easy Trip Planners Limited

    Easy Trip Planners or EasyMyTrip is the online Indian travel company found in the year 2008. EaseMyTrip got listed on 19th of March 2021. The issue price of the share was Rs.187. The current BSE price stands at Rs. 520.25 and NSE price is Rs. 593.85.

    The company got the funding of Rs. 229 Crores after selling the shares to the public.

    Paras Defence and Space Technologies Limited

    Paras Defence and Space Technologies Limited deals in engineering products and solutions. The listing date for the company was 1st October 2021. The issue price was Rs. 175. The current BSE and NSE price stands at Rs. 732.4 and Rs. 732.9 respectively.

    The company earned funding of Rs. 51 crores through IPO.

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    Nureca Limited

    NURECA, the health and wellness products company’s listing date was 25TH February 2021. The issue price was Rs.400. The BSE and NSE current prices stand at Rs. 1390 and Rs. 1390.4.

    The company received funding of Rs. 44.55 Crores through initial public offerings.

    Clean Science and Technology Limited

    The company uses the latest technologies to manufacture specific chemicals. The listing date for the company was 19th July 2021. The issue price was Rs. 900. The BSE current price is Rs. 2481.65 and NSE current price is Rs. 2476.15.

    Through IPO the company collected a capital of Rs. 464 Crores.

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    Latent View Analytics Limited

    Latent View Company helps with the processes related to digital consumers. It got listed on 23rd November 2021. The issue price was Rs. 197. The current BSE and NSE price of the company is Rs. 491.55 and Rs. 491.3.

    The company received the funding of Rs. 267 Crores through IPO.

    Laxmi Organic Industries Limited

    Laxmi Organic Industries Ltd. is the chemical manufacturing company. The company was listed on 25th March 2021. The issue price was Rs. 130. The BSE current price is Rs. 396.45 and the current NSE price is Rs. 396.5.

    IPO listing helped the company to raise funding of Rs.180 Crores.

    Conclusion

    The IPO market in the year 2021 has seen a great amount of growth. Many startups like Zomato, Nykaa, Paytm have entered the unicorn club through IPO this year.

    IPO investing has two sides. It can be super flourishing but also a doorway to loss. So, it is necessary to do proper research about the company and the market before investing. IPO is a lucrative way that makes for company growth by making it available to the public.

    FAQs

    How many IPO are there in 2021 in India?

    As per data by BSE, a total of 63 Indian companies went for IPO in 2021.

    Which IPO is the biggest IPO in India?

    The listing of LIC is considered to be India’s biggest ever IPO.

    What are the top IPO funding in 2021?

    Some of the top IPO Listings and Funding in India in 2021 are:

    • MTAR Technologies Limited
    • Easy Trip Planners Limited
    • Paras Defence and Space Technologies Limited
    • Nureca Limited
    • Clean Science and Technology Limited
    • Latent View Analytics Limited
    • Laxmi Organic Industries Limited
    • Zomato
    • Nykaa
    • Paytm

  • Shopify Business Model | How Does Shopify Make Money

    What could possibly come to your mind when you first witness the term “Shopify”? The only possible fraction of this term could be “Shop“. Shopify is not present in the physical world and that’s why probably has more effect on the customers. Since every business has moved to a digital platform, why not start with helping those who want to survive the market online.

    With other online platforms where retailers list their products to sell, it’s more like swimming in a pool to win against the other competitors. But with Shopify, one has to just keep swimming in his own pool and survive the water.

    Let’s understand the complete business model of Shopify and how it makes money.

    What is Shopify?
    Features of Shopify
    How Does Shopify Work?
    Shopify Business Model | How does Shopify Make Money
    FAQ

    What is Shopify?

    Shopify was first founded in 2004. It is an e-commerce platform that helps sellers build a website and sell their products online. With all the ups and downs, by the course of a decade, the sales of Shopify skyrocketed. Shopify had about 12,000 merchants by then and earned a huge revenue of $105 million. It is especially known for its flexibility of payments. Its adaptability in business helped it to flourish.

    Features of Shopify

    The e-commerce platform is easy to operate, it is designed for the easy understanding and accessibility of the retailer. The retailer gets numerous features useful in selling products like reporting, email marketing, SEO, analytics, or branding.

    Blogging

    Shopify Website Builder
    Shopify Website Builder

    Shopify also provides the blogging feature that allows developing the site; one can choose themes, write articles, and initiate discussions. Moreover, it provides hosting, which means that Shopify will handle all technical issues related to your shop.

    Dropshipping

    Shopify Dropshipping
    Shopify Dropshipping

    For someone who is interested in Dropshipping, he/she can start with this platform. According to reports, Shopify has over 800,000 stores. The stores are built using this application. It is a comparatively safer platform. Apparently, Shopify and the online store are going to survive more than anyone can imagine as merchants are widely reliable.

    Online Store

    Shopify gives merchants their sole identity, they have their own digitally controlled store to brand and market. It even helps in the branding of products and accepts a wide range of payment methods from the customers of the merchants. Interested Retailers can build and create an online store with plans starting from $9/month. It also provides 14 days of free trial use.  

    POS

    Shopify POS
    Shopify POS

    The POS (point-of-service) options are out of the box. It helps the stores and itself to stand apart from its competitors.

    Unforgettable customer service

    Shopify Customer Service
    Shopify Customer Service

    Unlike other platforms, Shopify gives quite satisfying customer service which is the primary reason why they love Shopify. Shopify has a huge database of FAQs, email & chat support, most importantly with an informative and helping agent on the other side of the call.

    You name the product and you can sell it on Shopify. Nothing limits the lists of products/services.

    How Does Shopify Work?

    Shopify, in simpler terms, helps one build their own website for their business. Shopify acts as a provider of online stores. It helps you to directly create a professional trade website by registering and logging into your account.

    Setting up other simple things and then the users are ready to upload and sell the products at their convenience. It helps them to start a business journey, without requiring to have any knowledge about website building.

    Now let’s look at How one can start selling on Shopify. It is pretty simple to understand how to set up the business on Shopify.

    • First of all, you have to create an account on Shopify to enrol yourself as the seller on the platform.
    • Add products or services from the account, add and customize the theme for the product and finally add a domain.
    • Add text as the description of the selling product and add a suitable image for it.
    • Enable payments from settings. It has got its own payment gateway called ‘Shopify Payments’, it’s a free service. If the retailer uses other gateways – such as PayPal, Amazon Pay, or other methods, he will be charged.
    • Add the shipping settings. One can buy shipping labels and decide at what rate the seller wants to charge the customers.
    • Users can add some apps from the Shopify App Store to market and sell the products on that platform too.
    • Select a Price plan. The user has to upgrade after the free trial by selecting the ‘Select a plan’ button at the end of every page to keep going.
    • When the process is done, the store can then be published.

    Shopify Business Model | How does Shopify Make Money

    Shopify makes the majority of its revenue through monthly subscription plans and payment gateways for the usage of its services. It also makes revenue from its merchant solutions which can be technical support, marketing, and customer services.

    Shopify Subscription Plans
    Shopify Subscription Plans

    The business of Shopify is truly based on the subscription of the merchants. The subscription amount gives lucrative returns than merchant services. On the contrary, the company made over 50% of its revenues from another stream called merchant solutions.

    Shopify’s gross volume comprises mainly from merchants paying for the Advanced Shopify and Shopify Plus plans.

    As a report by Shopify, it earns heavy from the highest-priced tier (Shopify Plus) higher compared to the lowest tiers. Shopify Plus is a service for valued enterprise customers, with larger volumes.

    Shopify Plus
    Shopify Plus 

    Enterprise contracts are also way more promising as the enterprise clients usually sign an annual or multi-year contract. The huge organizations are more stable comparatively. The plans are automatically renewed unless there’s an intimation of cancellation by the enterprise account. It has around 5,300 enterprise accounts as of 2018. Just Imagine the returns!

    Shopify Revenue
    Shopify Revenue

    Revenue comprises services of Shopify POS, Payments, Capital which makes Shopify more reliable to provide a higher value to its subscribers. Thus making its subscription plans more genuine and reasonable.

    Shopify defines its platform as a multi-tenant, cloud-based system engineered for high scalability, reliability, and performance. Shopify merchant solutions primarily make money from payment processing fees from Shopify Payments, Transaction fees, Shopify Shipping, Shopify Capital, Referral fees from partners, and sales of point-of-sale (“POS”) hardware.

    Conclusion

    Starting an online business is the best option any person can do. Selling the products in the offline market is time-consuming and needs effort. But to do that you don’t have to create your own website or hire a web developer. All these can be done with the help of Shopify. Create a seller account on Shopify and sell your products online. Happy Selling.

    FAQ

    What kind of business model is Shopify?

    Shopify operates on a platform business model where third-party sellers sell their products.

    How is Shopify making money?

    Shopify generates revenue from subscriptions, transactions, payment, referral fees, commissions and advertising.

    Who is Shopify’s biggest competitor?

    BigCommerce, an e-commerce platform based in the united states is one of the biggest competitors of Shopify.

  • Best Professional Employer Organization (PEO) Service Providers in India in 2023

    PEO Service has been around for a while, but many people aren’t sure what it stands for, what its benefits are, or how it works. However, in recent years, several different Professional Employer Organization (PEO) service providers have expanded their reach, contacting and delivering useful services to a large number of firms in India.

    However, before we can take advantage of PEO Service Providers, we must first grasp what PEO is and how its business model works. Here in this blog, we will explain PEO, how it works, and some of the best PEO Service providers in India in this article.

    What is a Professional Employer Organization (PEO)?

    A Professional Employer Organization (PEO) is a company that provides HR outsourcing services to small and medium-sized businesses. PEOs act as co-employers, taking on certain HR responsibilities, such as payroll processing, employee benefits administration, tax compliance, and risk management, on behalf of their client companies.

    As per the National Association of Professional Employer Organizations (NAPEO).

    PEOs enable clients to cost-effectively outsource the management of human resources, employee benefits, payroll, and workers’ compensation

    PEOs were initially introduced in the United States of America in response to a dearth of qualified employees for small businesses, which was causing them to lose ground to larger corporations. To address this problem, they would hire workers through a process called co-employment. As a result, local businesses thrived and profited greatly, and the PEO concept drew a large number of people and became quite popular.

    What is Professional Employer Organization?

    How Does The PEO Model Work?

    The PEO (Professional Employer Organization) model works by establishing a co-employment relationship between the PEO and the client company. Under this arrangement, the PEO becomes the “employer of record” for tax and regulatory purposes, while the client company retains day-to-day control over its employees. Here’s a general overview of the PEO model:

    1. Contractual Agreement: The client company signs a contract with the PEO, which outlines the HR services to be provided by the PEO and the responsibilities of each party.
    2. Co-Employment Relationship: The PEO becomes the “employer of record” for tax and regulatory purposes, taking on responsibilities such as payroll processing, employee benefits administration, and HR compliance. The client company retains day-to-day control over its employees.
    3. Shared Responsibilities: The PEO and the client company share certain HR responsibilities, with the PEO handling tasks such as payroll processing, employee benefits administration, and HR compliance, and the client company retaining responsibilities such as setting company policies and managing employee performance.
    4. Cost Savings: By outsourcing HR functions to a PEO, businesses can access a range of HR services and resources at a lower cost than if they were to handle these functions in-house.

    WIDGET: leadform | CAMPAIGN: Link Building

    What Does Professional Employer Organization (PEO) Do For Business in India?

    Knowing that the PEO is handling all of the employee management and administrative needs, one can focus on their goals and build their firm with ease. Following are some major functions of a PEO in India:

    1. Paychecks and Tax Preparation- Salary processing is handled by PEOs, who can also pay local, state, and federal hiring taxes in some situations. Many even combine salary and timesheets, reducing data input duplication and mistakes.

    2. Regulations- PEOs often have regulatory professionals on staff that can assist you in avoiding huge fines. Tax rate law and reporting requirements, insurance schemes, workers’ insurance, recruiting and HR regulation may all be areas of competence for them.

    3. Risks and Security- Safety audits and skills training are occasionally provided by PEOs. Investigations by the Occupational Safety and Health Administration (OSHA) may also require their assistance.

    4. Assistance with Human Resources- In many circumstances, a PEO has Human resource professionals on staff who can assist with HR issues. If a business has such an in-house Human resource representative, the PEO will collaborate with them on a tactical and operational level.

    5. Management of Talent- Recruitment and targeted employment, staff training and participation, and reward systems are all services provided by some PEOs.

    Advantages of PEO

    Following are some of the major advantages of hiring a PEO.

    • Saves Money- When a business is using PEO services, it is saving money and other assets as it doesn’t have to hire a different team for hiring employees, taking care of their needs, and maintaining the work. The PEO does this for the business, hence saving money, time, and effort.
    • Saves Time- By taking care of all the employees work, all the administrative work, and documentation, PEO saves time for the company, and that time can be used for different needs, thus helping in expanding the business.
    • Better Employment Process- PEOs manage most of the human resource management work, allowing companies to concentrate on brand and personnel management to enhance the quality of work life.
    • Improved Employee Perks- Benefits packages, such as health, are frequently negotiated by PEOs.
    • Efficient Procedures- Organizations should expect more efficient administration and HR procedures when they use PEOs.

    Disadvantages of PEO

    Following are some disadvantages of hiring a PEO service provider in India.

    • Loss of Command- Command over certain procedures in one business can be compromised due to an outer company’s influence on the staff and the working culture.
    • Loss of Inner HR Management- Businesses’ HR departments suffer a loss of importance when they hire PEOs. This could cause issues after the PEO is no longer associated.
    • Loss of Privacy of Paperwork- There is a loss of privacy when it comes to employee papers. Employers who use PEOs are usually required to provide the majority of company worker documentation. This could raise security vulnerabilities.

    Best PEO Service Providers in India in 2023

    Small and medium-sized businesses in India are facing an ever-increasing number of HR challenges, from compliance with labor laws to the administration of employee benefits. As a result, many businesses are turning to Professional Employer Organizations (PEOs) to help manage these HR functions. Here, we will examine the best PEO service providers in India, exploring their services and pricing. Whether you’re a small business looking to streamline HR processes or a medium-sized business looking for cost-effective HR solutions, this blog will provide you with the information you need to choose the best PEO for your business.

    Following are some major PEO service providers in India.

    1. Horizons
    2. Sky Executive
    3. Global PEO Services
    4. Husys

    Horizons

    Company Name Horizons
    Website Nhglobalpartners.com
    Industries Financial Services
    Type Privately Held
    Headquarter Singapore
    Founded 2018

    Horizons – Best PEO Service Providers in India

    Horizons (formerly New Horizons Global Partners) is a world-renowned PEO that can also fulfil the demand in India as a PEO. Horizons takes care of your business’s payroll, employee taxes, and compliance obligations in India. By leveraging this approach, you can start doing business in India quickly and conveniently with no need to create a separate subsidiary firm – saving both time and money.

    Horizons can help a business enter the Indian market quickly, hire employees or groups on its account, and handle all bureaucratic and regulatory difficulties.

    Sky Executive

    Company Name Sky Executive
    Website Skyexecutive.global
    Industries Human Resource, Recruiting
    Type Privately Held
    Headquarter Pune, India
    Founded 2018

    Sky Executive - Best PEO Service Providers in India
    Sky Executive – Best PEO Service Providers in India

    Sky Executive has ample experience assisting overseas businesses with their expansion into India. Sky Executive, is one of the best PEOs based in Pune, India, assists businesses in establishing operations in the country. It enables businesses to transfer divisions, products, or activities to a qualified and experienced workforce in India and reap the benefits of huge cost savings.

    Sky Executive provides its services such as office setup, hiring new employees, conducting payroll, general management of employees and corporate taxation. That makes it the ideal partner for businesses requiring assistance in managing staff in India.

    Global PEO Services

    Company Name Global PEO Services
    Website Globalpeoservices.com
    Industries Human Resources Services
    Type Privately Held
    Headquarter Salt Lake City, UT
    Founded 2017

    Global PEO Services – Best PEO Service Providers in India

    Global PEO Services (GPS) is one of the top Professional Employer Organizations in India, allowing businesses to hire staff in India without needing to set up a legal entity. Global PEO Services takes care of all human resources, benefits, payroll, and tax needs for the employees, so that the new hires and headquarter teams can focus on their business goals. Opting for Global PEO Services is the quickest way to set up a workforce in India.

    Husys

    Company Name Husys – A People2.0 Company
    Website Husys.com
    Industries Human Resources Services
    Type Privately Held
    Headquarter Hyderabad, Telangana
    Founded 2002

    HUSYS - Best PEO Service Providers in India
    HUSYS – Best PEO Service Providers in India

    Husys, the top PEO service provider in India, specializes in developing and managing HR systems for small and medium enterprises (SMEs). Since 2002, they have provided HR services to more than 3000 organizations via cost-efficient solutions. Husys, with its experienced and dedicated human resources team, has gained expertise in managing HR functions such as consulting, recruitment, employer of record services, business incubation, outplacement personnel solutions, organizational competency development and talent acquisition.

    Husys claims to offer the greatest experience and authentic HR services to employees in accordance with Indian labour laws. Husys’ highly qualified experts will look after the personnel, as well as any documentation and risks.

    Conclusion

    PEOs can be of significant assistance and benefit to a company’s growth, particularly if the company is small and needs to acquire competent personnel while saving time and money in order to expand. It is up to the client and their type of business, as well as their plans for expansion. There are numerous options and PEOs available to assist them in reaching their objectives. By choosing the right PEO service provider in India, businesses can focus on their core operations while leaving the HR management to the experts.

    FAQs

    Why is PEO important?

    New enterprises can use PEOs to increase sales and efficiency, emphasize on its main objective, and expand business.

    Who employs the services of a professional employer organization (PEO)?

    Several organizations use PEO services. Some of them are:

    • Accountancy companies
    • High-tech corporations
    • Local businesses

    What does a PEO charge?

    A PEO (Professional Employer Organization) typically charges a fee based on a percentage of the total payroll for the employees it is managing. The exact percentage can vary depending on the size of the business, the number of employees, and the services being provided. PEO costs are estimated to be around 2-12 % of earnings, according to industry analysts.

    What services do PEO Service Providers offer?

    PEO service providers offer a range of HR services including payroll processing, employee benefits, compliance support, and more.

    Why should businesses use a PEO Service Provider in India?

    By partnering with a PEO service provider in India, businesses can access a suite of HR services, freeing up time and resources to focus on their core operations.

    What should businesses look for in a PEO Service Provider?

    When choosing a PEO service provider, businesses should look for a company with a proven track record of delivering high-quality HR solutions, a broad range of HR services, and competitive pricing.

    Yes, a PEO service provider can help with compliance and legal issues related to HR management, such as employment laws and regulations.

  • The Correct Way to Start a Subscription Box Business in 2022: The Ultimate Guide

    Subscription box businesses have taken the world by storm, and we don’t need to tell you that. It’s difficult to overlook the business potential offered in this expanding market, with more than 2,000 subscription box firms cropping up in recent years. Subscription boxes are hands down, one of the best ways to shop. They provide consumers with one-of-a-kind experiences centred on products and ideas and introduce new businesses.

    Subscription commerce provides a reliable business model based on recurring monthly revenue tailored to practically any niche, from puzzles to cosmetics to pets. If an online community exists around a product or genre, there’s a chance one can create a subscription box brand. However, creating a successful subscription box requires much more than a solid idea and a love for the things you’ll be shipping, and that’s why we break it down for you in this article with the help of a step-by-step guide.

    Here’s the step-by-step guide on how to start a Subscription Box Business.

    1. Subscription Box Business Idea
    2. Creating a Prototype for Subscription Box
    3. Fulfillment Services for Subscription Box
    4. Creating Budget for Subscription Box Business
    5. Pricing the Subscription Box
    6. Establish Your Brand
    7. Creating a Website for Subscription Box Business
    8. Marketing Strategies for Subscription Box Business
    9. Growing Your Customer Base
    FAQs

    1. Subscription Box Business Idea

    When it comes to subscription box businesses’ success, a good idea is its backbone. Specificity distinguishes decent ideas from fantastic ones, how your concept would fill a gap in an overly crowded market. Your box must stand out, but how do you intend to accomplish this? Some of the important questions for detailed analysis are market research, competition, and customer base.

    Market Research

    Conduct market research before launching your subscription box to ensure a business possibility in the sector you’re enthusiastic about. Try to get specific and break down your ideas to find a perfect product. The more specialized your box is, the easier it is to pick products for a certain audience, allowing you to increase client retention and provide a positive experience.

    Competition

    There are two types of competition for you: direct and indirect. Identity both Big names of your sector, as well as those who have failed, and ask yourself where the success and failure stem from in both cases. You’ll want to be prepared to answer queries like, “How many boxes are you competing with?” during your study. What do they have to give, and at what cost? How can you set your box apart from theirs? Answering these questions will assist you in developing a viable and appealing business.

    Customer Base

    Spend time researching your potential customer. What is the age of your customer? What stores do they frequently visit? What is their degree of income? Which social media channel do they prefer? Trends and customer purchasing habits in the subscription box industry and the things you intend to send, whether they be cosmetics, food, etc.

    2. Create a Prototype for Your Subscription Box

    When you launch the subscription box, one of the most common misconceptions is that you have to get your first shipment ready for launch before you begin marketing. This isn’t accurate, and relying on it could slow you down in the process of preparing your launch. The idea behind the prototype box is to introduce potential customers to the kinds of items they’ll receive month in and month out.

    Here are the steps you’ll need to create a prototype for your subscription box:

    Choose the Products

    Sips by Subscription Box
    Sips by Subscription Box

    Make sure you round up only 5-7 items representing the types of items your customers could anticipate receiving once they sign up. The most important thing is to avoid misleading people by using a prototype box. People are likely to decide to cancel their subscription if they believe your advertising efforts have deceived them.

    Choose the Box

    Depending on where you are in the process depending on your progress, you might or might not have your box finished. It’s probably the most important aspect of unboxing, and it’s worth the time to understand. The good thing is once you’ve worked out the dimensions and layout, it’s not necessary to purchase 2,000 boxes to begin.

    The most important things to take into consideration are branding as well as the design and size. Your box is the face of your company, regardless of how high quality the items are inside. A box that is not up to scratch can negatively impact the user experience.

    Choosing Packaging Supplier and Materials

    It could be crinkle paper, tissue paper, or even wrapping your product. To help with marketing, we suggest starting with crinkle paper since it won’t block out or cover your products from being taken.

    Among the most crucial decisions to make is which firm will provide your packing. Sure, you want to send a low-cost box. However, you’d like to send a package that makes receiving and opening it each month an adventure. Many organizations can design your packaging, so shop around until you find one that provides the ideal balance of quality and cost.

    3. Find a Fulfillment Service for Your Subscription Box Business

    If you’re starting, you’ll probably be able to manage all of the fulfilment on your own. If you want to create a subscription box that can take on the big companies, you’ll need to employ a fulfilment company to handle the logistics of sending your boxes each month. Look into fulfilment in the same way you looked at packaging. Numerous organizations can assist you in saving hundreds of hours per month.

    4. Create a Budget for Your Business

    You’ll need a clear and well-defined budget to fully assess things like return on marketing expenditure and overall profitability.

    • How much do you think your customers would be willing to pay for the items you’ll be sending them?
    • How much can you anticipate paying each month for the products you ship? What about packaging and fulfilment costs?
    • Average LTV (lifetime value) of your niche’s customers?
    • What is the maximum amount of money you can spend on marketing to get each customer?

    Consider all of the costs associated with production, fulfilment, client acquisition, and customer retention to get a clear image of what you’ll need to spend/charge to be profitable and successful in the long run.

    5. Set the Right Price for Your Subscription Box

    One of the most costly mistakes an owner of a subscription box will make is pricing their subscription box. Suppose you’re pricing your subscription too low to remain competitive or charging too much to make a substantial income margin. In that case, each side of the spectrum can affect the viability of your business.

    If you’ve come up with an amount, but you feel there’s something wrong with it, don’t hesitate to send out questionnaires or other deals to your customers. Find out the details to determine which price points seem to be most popular with your target audience? If you’re diligent about pricing, you’ll create the foundation to ensure a steady, reliable stream of income.

    Aspects to be considered when determining the price of your box

    • Cost of the product: The items included in your package.
    • The cost of the box: Your box and accessories for your box (stickers and stamps).
    • Materials for packing cost: Filler paper bubble wrap, filler paper, or inserts.
    • Postage and shipping cost: Mailing labels packing tape, mailing labels, etc.
    • Fulfilment cost: Physically packing your box.
    • Transactions and platform fees: Charges from your payment processor as well as your e-commerce platform per transaction.
    • Fixed monthly cost: Gmail fees, prices for accounting software, etc.
    • The acquisition costs: Advertising & marketing to attract new customers.

    6. Build a Brand For Your Subscription Box Business

    Branding is a very important part of growing a successful subscription service. It helps people notice, share, and remember your service long after exposure to it. If your branding is compelling, people will understand your brand at first sight. People are more likely to share your box if they are impressed by the packaging and the contents, giving you free advertising you did not have to pay for.

    Name

    Effective branding entails more than just a clever name. It should inform customers about the type of business you’re in (subscription box) and the things they’ll receive if they place an order with you.

    Consider a logo as a company name that you don’t have to read to recognize. People will likely know the shape of your logo before they read it, even if it is a script that reads out your box name. Overly intricate logos should be avoided. Keep your design minimal while remaining unique. People will be far better able to identify with your brand if they can comprehend it right away.

    Slogan

    Some companies are noted for their catchphrases, which clearly state the advantages of doing business with them. While it isn’t necessary for branding, creating a memorable slogan is a fantastic way to help your consumers and future buyers remember what the company is all about. For example, when we hear Have a Break, our mind instantly reminds us of Kitkat.

    7. Build a Website for Your Subscription Box Business

    Your website is more than just a place to sell products; it’s also your marketing tool. The foundation of any successful subscription box business and public face for what you stand for.

    Use a Template Site: Depending on your starting capital, a template site from an e-commerce platform like Shopify may be the most cost-effective way to get up and running. They’re simple to make, cheap, and come with a plug-and-play interface that allows you to set up a website in a matter of hours.

    Template sites have drawbacks, but they’re a smart place to start if you’re on a budget and don’t have the technical know-how to develop a conversion-optimized, custom e-commerce website.

    Any eCommerce firm can outgrow the capabilities of template sites; therefore, if you’re starting with a good budget, a conversion-optimized, custom e-commerce site should be preferred. The opportunity to fully personalize every design aspect and functionality to maximize the customer experience and generate more conversions is one of the advantages of this type of site.

    Expert marketers create conversion-optimized websites after conducting comprehensive research into your target buyers, rivals, and user behaviour on your website. The process entails more than just creating a nice-looking website that showcases your stuff.

    8. How to Market the Subscription Box to Reach Maximum Customers?

    Make a website that is all about conversions

    To begin selling, you’ll need a website that is optimized for conversions. It would be best if you comprehended your ideal buyer’s journey as well as the types of content they will require at each stage of their relationship with your firm. You’ll need to know what kinds of material your target subscription buyer enjoys so you can create content offers for them at each point of their journey and capture their information so you can groom them to buy.

    Content offers

    It’s all about purchasing and repurchasing in subscription boxes. Begin creating more “deals” for your visitors and continue to nurture them with great material until they are subscribers.

    Create Tutorials to use your products

    Creating instructions on how to utilize the products you send your members every month, whether your box focuses on beauty, crafts, nutrition, or even men’s grooming, is a terrific way to serve your audience. It’s a tried-and-true way to show that you genuinely care about what you’re offering and that you’re there to assist them.

    Develop Referral Program

    Once it comes to subscription box marketing, referral programs are extremely important. When starting a referral program, there are a few things to consider.

    1. How is it going to work?
    2. What does the individual who makes the reference stand to gain?
    3. How will you persuade them to act?
    4. What system will you use to keep track of referrals?
    5. How will you ensure that the system is not abused?

    Create Ads

    Your goal and marketing plan will determine the type of ad you launch and provide your audience. If you want increased sales right away, a “purchase now” offer is the way to go. If you’re going to grow your subscriber base and nurture them into making purchases via email (which is typically more cost-effective), you’ll need to use a different technique. Before you run any advertising, make sure you fully grasp your aim and approach, as well as how you’ll track campaign success or failure.

    Top 5 Major Brands that Actively Use Meme Marketing in their Marketing Strategy
    Meme marketing is the latest marketing trend and these brands are attracting a huge audience with the help of meme marketing strategy.
    StartupTalkyMuskaan Kapoor

    9. Grow Your Customer Base

    Many recurring subscription businesses are overly focused on customer generation and stop investing in keeping their current customers happy. The goal is to keep growing your company. One of the most efficient methods to keep your clients pleased is to provide excellent customer service. It’s unavoidable that problems develop. This is particularly true for startup companies. The way you address them will determine your success.

    Rather than attempting to push difficulties under the rug, devote resources to resolving the issue for your consumer as soon as possible. Then, regardless of the problem, work to over-deliver and ensure their customer service interaction is happy.

    Social media channels such as Facebook and Twitter are ideal places to operate your customer support business. You could want to create a separate Facebook page or Twitter account solely for customer issues and questions.

    History, Present, and Future of Subscription Business model
    The subscription business model is growing at a fast pace. So, Here’s a deep insight into the history, present, and future of the subscription model.
    StartupTalkyPratyusha Srivastava

    Conclusion

    Many entrepreneurs have been drawn to the subscription box sector because of its potential. However, it would be best to ask yourself how to start a subscription box business from a solid foundation that is poised to produce predictable growth and long-term success, not how to create a subscription box business.

    The suggestions in this article may help you get a head start on developing and launching your subscription box business.

    FAQs

    Are Subscription Boxes Profitable in 2021?

    Yes, Subscription boxes are, in fact, more popular than ever.

    Is a Subscription Box business worth it?

    According to research, subscription models are more than 200% profitable for organizations than one-time payment methods.

    How much do subscription box businesses make?

    Subscription Box businesses have a 40% to 50% profit margin.

  • Companies Providing Best Business Phone Services in India

    Business telephone systems can be used by companies of all sizes to manage internal and external calls. Their capabilities are vastly different from those of domestic phone services. A strong business phone system should be able to manage several calls at the same time as well as transfer calls inside the company.

    If you have an e-commerce website or a small-scale business site, integrating a formal business phone service could help your business expand. It can be used to improve client interactions by providing high-quality service and marketing over the call.

    WIDGET: leadform | CAMPAIGN: Link Building

    In this article, we’ll look at what a business phone service is, its types and some of India’s leading business phone services.

    What is a Business Phone Service?
    Types of Phone Services
    Best Business Phone Services in India

    1. Exotel
    2. CallHippo
    3. RingCentral
    4. eVoice
    5. Nextiva

    Conclusion
    FAQs

    What is a Business Phone Service?

    Business Phone Service
    Business Phone Service

    A business phone system is a multi-line mobile network designed to meet the specific communication demands of businesses. It can support enormous traffic and offers comprehensive call managerial functions. All incoming, outgoing, and local calls within a company are routed through a business phone system.

    If your firm has a proper business phone line, it will appear more legitimate to customers and will aid in the company’s growth. A solid business phone service allows for easy call length tracking, call forwarding, call holding, and caller Ids, among other features. The organization can use such resources, and also have the option to use them on landline phone systems, mobile phones, and even computers.

    Types of Phone Services

    KSU, PBX, and VoIP are the three most common forms of commercial telephone systems. There are hosted (cloud) and non-hosted (on-premises) versions of each of these programs. So this is how they are different from each other-

    1. Key System Units

    A phone system that uses the key system unit is by far the most fundamental (KSU). Because of the constraints on the number of phone lines, it can accommodate, this sort of system is really only useful for small firms with no more than 40 staff working as customer service staff. It’s a simple system that works similarly to a home phone. It contains all of the necessary functions for a corporation, but it limits flexibility and versatility. It selects a phone line manually using a central switching device called the KSU.

    2. Private Branch Exchange

    One alternative to a corporate phone system is a private branch exchange (PBX). This technology is more sophisticated than the KSU and KSU-free methods. It makes use of programmable switching devices to allow for automated handling. Because it’s entirely automated, this type of corporate telephone network is best for companies with more than 40 workers. Another key benefit of the PBX system is that it includes a continuous power supply, which allows a firm to operate without power for a longer length of time.

    The online PBX is a variation of this service. The sole difference seems to be that the programmable switching device is now maintained by a telephone company rather than being put on-premises. The biggest benefit is that you’ll save money on construction and repair while still getting all of the amazing tools that a traditional PBX system provides.

    3. Voice Over Internet Protocol

    Voice over Internet Protocol (VoIP) is a recent and more widespread corporate invention (VoIP). This seems to be the most sophisticated method, enabling a prospective customer and a phone operator to interact even if they are in separate nations. It necessitates the usage of the internet as well as a desktop. It is, however, the most expensive system, with the price based on the number of workers who will utilise it. The key advantage of this system is that all of its operations may be accessed via a computer connected to your firm’s internet connection.

    The VoIP system, like the PBX, can be online. Because the network operator maintains the central telecommunications network, the hosted model delivers the very same benefits as the standard VoIP system, with less construction and repair for the organization employing it.

    Best Business VoIP providers in 2022

    Best Business Phone Services in India

    There are a lot of different Business phone services that can be used by businesses of all scales and the following are some major business phone services in India –

    Exotel

    Best Business Phone Services in India - Exotel
    Best Business Phone Services in India – Exotel

    Exotel advertises a stable and dependable business phone system. The technology is cloud-based, allowing the company to have a single corporate phone number from which to make calls and send SMSs. Exotel also provides selling tools, marketing materials, customer service tools, business analytics, and insights, as well as everything else businesses need to operate their operations successfully over phone calls and messaging. The starting price is ₹5555 per 3 months.

    CallHippo

    Best Business Phone Services in India - CallHippo
    Best Business Phone Services in India – CallHippo

    CallHippo is popular amongst big giants like Byjus, TechMahindra and so many others. It claims to provide smoother support services with tools like call routing, live call monitoring and more. It implies that its services like PowerDialer and click-to-dial messaging will boost the productivity and the efficiency of the business, thus helping it grow and achieve its goals. The starting price for CallHippo is ₹1440 User/Month.

    RingCentral

    Best Business Phone Services in India - RingCentral
    Best Business Phone Services in India – RingCentral

    RingCentral claims to offer the best communication solutions and empower small businesses and their employees with better communications, calls, messaging, online collaborations and so much more. The starting price is ₹1439.28 User/Month.

    eVoice

    Best Business Phone Services in India - eVoice
    Best Business Phone Services in India – eVoice

    eVoice digital voice logging has been aimed at assisting smaller companies in managing inquiries more successfully, projecting a professional appearance, and allowing their customers to operate from just about anywhere. The starting price for eVoice is ₹935.28 User/Month.

    Nextiva

    Best Business Phone Services in India - nextiva
    Best Business Phone Services in India – nextiva

    Nextiva is a linked telecommunications firm that assists companies in expanding more quickly. It claims that its commercial VoIP phone service, online communication, messaging services, and CRM software enable individuals to operate more efficiently. The starting price of Nextiva is ₹1436.4 per month.

    Conclusion

    If a business utilizes a business phone service, it will benefit regardless of how big or small it is. The use of a business phone service leads to more efficient communication and collaboration. It makes the organization appear genuine and professional to everyday customers, and it aids in business growth. Before choosing a business phone service, it is usually a good idea to learn about it and comprehend it. It’s critical to pick the ideal one for your company.

    FAQs

    Is VoIP available in India?

    It is now permitted in India to use VoIP, according to new rules.

    Is Nextiva better than RingCentral?

    Both Nextiva and RingCentral offer good service, but Nextiva is often favoured since it is more adaptable to individual needs.

    Is it cheaper to have a business phone?

    As VoIP business phone services utilize the current internet connection instead of requiring any additional system or equipment, it is less expensive than on-premise landlines.

    What are the best business phone services in India?

    Best business phone services in India are:

    • Exotel
    • CallHippo
    • RingCentral
    • eVoice
    • Nextiva

  • Make Way for Opinions Trading: Here’s How Probo is Changing the Trading Game

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Probo.

    India is home to the second-largest base of casual online gamers with a population of 420 million individuals, as per primary and secondary research conducted by KPMG.

    Even before the Coronavirus outbreak, the Indian internet gaming sector was expanding rapidly. However, COVID-19, and the succeeding lockdowns and WFH models, provided a tipping point in terms of how online casual gaming, prediction gaming, and fantasy gaming have emerged as key channels, including both game base (420 million in FY21) and revenue output to the gaming industry (INR 60 billion, in comparison to the total gaming industry size of INR 136 bn in FY21).

    Gamifying opinions have recently started dominating the prediction market and Probo is one another example of how companies are focusing on opinions and their trading. Crafted in India, Probo takes pride in launching an app that focuses on the discovery of truth. Here’s this StartupTalky article that will let you have a glimpse into the Probo success story, its founders and team and more.

    Startup Name Probo
    Headquarter Gurgaon, India
    Sector Opinion Trading & Prediction
    Founders Sachin Gupta, Ashish Garg
    Founded 2021
    Website probo.in

    Probo – About
    Probo – Founders and Team
    Probo – How to Trade On Event Questions
    Probo – Funding and Investors
    The Rise of Game of Skills Beyond Gambling & Betting Into the World of Trading
    Probo – Game Of Skills Vs Gambling or Betting

    Probo – About

    The universe of monetary value is constantly growing. Data, digital assets, and even basic clothing markets are becoming as important as conventional commodity markets such as oil, agriculture, and gold. This indicates that the financial derivatives market does have some catching up to do. This is where Probo provides event choices as a distinct asset type that covers a wide range of topics and subjects across all varied domains. Finance, Sports, Entertainment, or News – such events have the potential to become powerful assets in the toolkit of today’s value-driven investors.

    Probo users are drawn to the platform for the very same reasons that traders are drawn to the stock or securities markets: they want to profit from their thoughts and knowledge while increasing their financial goals and learning something new. The nature of these events frequently makes trade methods more comprehensible, versatile, and exciting.

    Probo Startup

    For example, did you predict that the Government will repeal any of the three Farm Laws? Did you predict that India will regularise Cryptocurrencies? Do you often have opinions on sports matches? Do you have immense knowledge of a specific subject?

    If you answered yes, you must feel excited about Probo. While previously there has been no platform that allows you to gain returns on your opinions, Probo ascertains that you profit from your opinions by trading them. Don’t let the word ‘Trading’ throw you off, you don’t need to have any prior trading experience to join and earn money on Probo. All you got to do is answer simple Yes or No questions, select the amount you’d like to invest in your opinions or predictions, and based on the actual outcome of the event if your predictions were correct, you win. Once you complete your KYC, you can instantly withdraw your winnings using UPI. What gets better than this?

    If this new age concept seems interesting to you, and you’d like to explore Probo, keep reading to know how to get started.

    Probo – Founders and Team

    Probo, founded by Sachin Gupta and Ashish Garg, is an opinion trading platform where two users with opposing viewpoints can sell their opinions for mutually agreed-upon price and gain benefits. Probo’s app is accessible for Android users and covers subjects such as sports, education, politics, entertainment, the economy, and business.

    Probo compares a user’s opinion to a counter-opinion, then if the user’s view fits a real-life event, he or she wins and earns money. In essence, it is based on a prediction market model in which winning or losing is determined by the outcome of a real-life event.

    Probo – How to Trade On Event Questions

    Download the Probo app from the website, or click here to start the download. Once you Sign-up using your phone number and complete the registration, you will get Rs.25 as a sign-up bonus. Now, follow these steps to trade your opinions and win rewards on Probo.

    Step 1: Explore different categories such as News, Crypto, Sports (Cricket, Football, Tennis), Entertainment, etc

    Step 2: Choose your category of interest

    Step 3: Find event questions in your choice of category

    Step 4: Share your opinions/ predictions by selecting ‘Yes’ or ‘No’

    Step 5: Decide the price and quantity you would want to invest

    Step 6: Submit your opinions and wait for the event outcome

    If you’d like to see how to trade on Probo, you can check their tutorial video on YouTube video.

    Probo – Funding and Investors

    Probo has already raised a funding round from Sequoia Capital and Elevation Capital in March 2021 where it has been successful in raising $2.5 million. This round also included Rohit Bansal, Bhavik Koladiya, Kunal Shah, Kunal Bahl, and Vaibhav Domkundwar.

    As per the recent reports dated February 21, 2022, Probo will now be raising another $25 mn in a Series A round from a mix of new and existing investors, which will include Fundamentum and other existing investors. This funding round will be valuing Probo somewhere between $100-120 mn.

    Date Name of the Funding Round Funding Amount Lead Investors
    March 2021 Seed Round $2.5 million Sequoia and Elevation Capital

    The Rise of Game of Skills Beyond Gambling & Betting Into the World of Trading

    Gambling and betting, in the form of games, is possibly as old as mankind and has been practised both officially and illegally all over the world. The attitude of society toward gaming has changed across diverse geographies, and in most situations, regulations have favoured gambling on skill-based activities while prohibiting wagering on games of chance. Betting entails the exchange of money or assets, and this agreement can be reached in person or virtually.

    The age of the Internet has opened up new horizons of gaming and established a global market for activities on which people can legally play in their different jurisdictions. People nowadays place their bets through phones, computers, and so on. With easy access to internet gambling sites and an international presence, gaming regulation has become an essential concern. Telecommunications technologies and global financial transfers have enabled gaming hosts to be joined into networks. Despite these developments, ‘skill’ or ‘luck’ remains a critical criterion in assessing the legality of a gaming enterprise in India.

    Skill gaming differs from restricted wagering or games of betting, both of which are considered gambling in nature. The distinction between games of skill and games of chance, with the former authorised and the latter outlawed, has long been a characteristic of Indian law. Section 12 of the Public Gambling Act exempts skill-based games from gambling-related penalties – “Nothing in the foregoing provisions of this Act contained shall be held to apply to any game of mere skill wherever played.”

    Now that we have discussed how Skill gaming differs from gambling and betting games, let’s understand more about the skills game below.

    Probo – Game Of Skills Vs Gambling or Betting

    A ‘game of skill’ is one in which the player’s success is mostly determined by superior knowledge, training, attention, experience, analytical abilities, personal traits, and aptitude. While the component of chance cannot be completely eliminated, the element of talent on the part of the participants plays a major role in predicting the game’s outcome. Games of skill are designated as a distinct category since several Indian states (except Assam, Orissa, and Telangana) have codified gambling acts that remove games of skill from the scope of gambling.

    Assume that you believe the world will undergo a significant shift toward electric vehicles in the next few years based on your knowledge and research. How can you apply this knowledge to your advantage? Using traditional means and tools, the most viable strategy would be to acquire shares in a popular electric car company, such as Tesla.

    As and when electric vehicle adoption increases, Tesla’s sales will increase, and you’ll make loads of money. That may work, but purchasing Tesla shares exposes you to tremendous risk. What if a new automaker develops superior-technology electric vehicles? So, what will happen then?

    Probo, on the other hand, allows you to share your opinions and predictions by allowing you to trade directly on the sales of electric cars. Will electric cars, for example, have a market share of more than 5% in India by 2025? You will profit from answering the question correctly and holding your opinions on certain events till their expiration date.

    Because the market is related to a fundamental measurement of the real world, you will not be at risk of underpricing driven by public sentiment. Similarly, when it comes to sports prediction, you have limitless opportunities to answer event questions from across different categories.

    So, why waste your opinions, when you can earn from them? It’s time to trade your opinions on Probo.

    FAQs

    What service does Probo provide?

    Probo is an opinion trading platform that provides opportunities to learn, earn and have a lot of fun for everyone!

    What’s Probo’s process to protect its users?

    We are particularly cautious to defend the well-being of our consumers and marketplaces. Some distinct policies for the foreseeable future:

    ●       There is no counterparty risk because all trades are stored in Probo’s vault.

    ●       We will soon ship several tools to nudge, guide, and educate the user for them to make smart trades.

    How are event questions chosen?

    Probo’s category teams curate and review each event, researching and validating whether the event question is suitable to be listed on the platform. In all fairness, the review process is somewhat complex, however here are a few necessary aspects:

    ●       To offer a fair playing field for all members, the marketplace should have a low risk of manipulation.

    ●       The market does not promote bad behavior.

    ●       The market’s outcome is derived from a credible and trustworthy source.

  • Top 10 Low Investment Small Business Ideas to Start in 2022

    The year 2020 has brought severe turmoil and tension to the global economy, the COVID-19 pandemic being the biggest challenge. Countries have had to implement lockdown measures to contain the disease. Starting a new business won’t be the same as earlier. Hence, following the right steps and working on the best small business ideas can help you establish your own business with little investment.

    The dynamics of business have changed. New business trends in 2022 have come up and some existing ones have gained traction. This post focuses on the trends in the world of top small business ideas. An exciting feature of the top 10 small business ideas of 2022 discussed below is that even beginners can try them and that too with small investments.

    There are over 4 billion internet users in the world, and 6 out of 10 small businesses have a website to serve these users. According to statistics, 73% of online businesses earn over $50,000 per year. Hence, most of the new business ideas in this post are online-oriented. If you want to start your own business in India and be your own boss, now is the time.  

    Here are 10 such small business ideas for 2022 you can start now.

    1. Bookkeeping
    2. Freelancing
    3. Reviewing Products
    4. Affiliate Marketing
    5. Graphic Designing
    6. Podcast
    7. Blog Monetization
    8. Online Course Creation
    9. Selling Products Online
    10. Printing On Demand
    FAQ

    1. Bookkeeping

    Bookkeeping Business
    Bookkeeping Business

    First on the list is Bookkeeping as it is the best small business idea in India. Not every job requires you to be on-site. There is certain accounting software that can help you perform remotely online without any hassle. Bookkeeping is one such example. If you know how to work with software like QuickBooks, accounting software or bookkeeping software, you can do online bookkeeping for someone.

    To start a Bookkeeping business, you need to have a strong foundation in the basics of income, outgoings, etc., you also need good networking skills. You can make a solid income through online bookkeeping. Several such services can also be rendered through virtual assistance.

    2. Freelancing

    Freelancing
    Freelancing

    Freelancing has always been considered a successful small business idea. Many people value freelancing over a day job. Be it side income or more than that, you can achieve a lot as a reputed freelancer.

    To get into freelancing you can sell your services at Fiverr.com and Freelancer.com. It is also the in India as you can do voice-overs, translations, transcribe people’s text, content writing, logo designing, or even programming. This can be the best small business but it is all about finding a match with the perfect client.

    Established freelancers earn hundreds of dollars in a day’s work as it is a low-cost business idea with high profit. Working from anywhere and at your own timeline is another perk of freelancing makes it one of the best business ideas. So freelancing is a tried-and-tested approach to starting a small business and making it big someday. This is a low investment idea where you can follow your passion and make money out of it.

    3. Reviewing Products

    Reviewing Products
    Reviewing Products

    Product review is an easy to start business that can be started online with minimal investment. People like to read and watch reviews before buying products. Leverage this demand to build a small business around reviewing products, this is currently a trending business idea. Has a new product been launched? Procure it and upload a video on YouTube to share your review.

    This is one of the most successful small business ideas as it allows you to make tutorials on the features and functionalities of devices and other products. There are many out there who purchase fancy gadgets on a whim only to not use them to the fullest. Act as their saviour through your reviews! It is one of the best business ideas for women, as many homemakers can review beauty products or clothes from different websites.

    4. Affiliate Marketing

    Affiliate Marketing
    Affiliate Marketing

    Consider the following example to understand affiliate marketing. You review a newly launched camera, make a video of your review, and upload it on YouTube. You also add links in the video description. These links are special because if anyone goes to Amazon by clicking on them and buys the camera from there, you’ll get a certain commission from the purchase.

    This is why reviewers provide a plethora of links. It is also one of the best low investment small business ideas in India. Affiliate marketing is considered one of the most successful businesses to start. If you are interested in affiliate marketing, do check out the Amazon associate program and Shopify affiliate program.

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    5. Graphic Designing

    Graphic designing
    Graphic designing

    Graphic designing is the best business to start in 2022 as the content only sells when it’s attractive. Logos are effective only when they are pleasing to the eye; hence, there is an everlasting need for a graphic designer. It is an upcoming small business idea in India as many startups require a graphic designer to help make their websites creative.

    If you have a knack for photo editing or designing, then graphic designing is the best business to start with. This sector is booming at the moment and is like the hotshot you can undertake this year. Just visit freelancing platforms like Fiverr and Upwork to see the global demand for designing. The pay for this business idea 2022 is mind-blowing and you get to build a nice clientele list.

    6. Podcast

    Podcast
    Podcast

    Podcasts are booming and were said to be the best online businesses to start in 2022 because of the global pandemic. This is one of the few businesses that are now seen as the modern form of information sharing and are equal in value to videos and written content. People now actively listen to podcasts. Joe Rogan podcasts are highly popular. With over 6 million subscribers and podcasts that are as long as 3 hours, Joe Rogan has become a brand.

    It is one of the other low-cost business ideas with high profit because imagine the number of audio advertisements you can place in your podcasts! If your podcasts eventually gain pace, you can secure brand deals with sponsors like Squarespace or Audible. They pay a lot to be part of popular podcasts. With podcasts, you can also bring in other online business ideas 2021 such as affiliate marketing.

    Podcasts can be recorded from home and don’t require huge investment. You can even use your phone’s microphone to record an audio file. Podcasts will always be in the small business ideas list, as you can upload it to a website like Anchored.fm which in turn will share your podcast around the world.

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    7. Blog Monetization

    Blog Monetization
    Blog Monetization

    Blogs allow you to contribute posts on topics like banking, how to make money, how to save money, and how to invest. This is among the best business in India in 2022 as it is easy to earn money. You can use AdSense and affiliate marketing to make money from your blog.

    You can use this trending business idea to market your services. Blogging is among the top 3 ideas for small businesses as creating your own blog won’t be much difficult if you are passionate about writing. It is currently in the list of the top 10 most successful businesses because you can start it easily, it is an inexpensive way to enhance your marketing, get more traffic and then attract customers to purchase your products or services.

    8. Online Course Creation

    Online Courses
    Online Courses

    What’s common between Udemy, Coursera, and edX? They thrive on paid online courses. According to many studies starting an ed-tech startup is the best startup idea in India this year. If you are highly knowledgeable about something, say machine learning, and have the capability to explain complex content lucidly, then creating an online course is one of the top business ideas you should look out for.

    You can come up with an agenda and outline what topics you will cover. Then create videos on each of these topics, make them visually appealing while not going overboard, and also have transcriptions ready for the videos. This is among those ideas that allow you to improve upon your skills.

    Once all items are taken care of, bundle everything into a package and search for the websites that pay you well for your course. The edtech industry in India is growing at a fast pace and this is the right time to grab this opportunity.

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    9. Selling Products Online

    Ecommerce
    Ecommerce

    Selling Products Online is easier than you think. Ecommerce is considered to be one of the best business ideas as creating an online store is not difficult today. Shopify is one such platform that allows you to create an online store.

    Professional templates that are super-easy to customize make it a child’s play to sell products through an online store. Dropshipping is another popular term that’s related to selling products online. As the Indian e-commerce market has witnessed huge growth in the past few years, this is one of the most successful businesses to start.

    10. Printing On Demand

    Printing Business
    Printing Business

    Printing is another best business to start in 2022. There are situations when the design is ready but there’s no way to print it. That’s where print on demand comes into the picture and that is why it is considered to be the best small business. Someone else can design the T-shirts and you can make money by printing them. These new business ideas are even easier if you can bring in the distribution component.

    Conclusion

    We hope this small list of all the beautiful small businesses to start in 2021 sparked any ideas in you. Most of them require no investment at all other than your time. Hopefully, you may have found the most successful small business ideas that are also low-cost with high profit in this list. If you know about any other business idea that can be started on a small scale, let us know in the comments below.

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    FAQ

    How to Start a Business with No Experience?

    Get business-related qualifications, Turn your career or hobby into a business, Do extensive research, Create a realistic business plan and Hire expert employees.

    What are the top 10 small business ideas?

    The best small business ideas in India 2021 are printing on demand, selling products online, online course creation, blog monetization, podcasts, affiliate marketing, graphic designing, reviewing products, freelancing and virtual assistance.

    What are the most successful small businesses?

    The most profitable small businesses are Personal wellness, Building courses, Bookkeeping, Accounting, Consulting, and Graphic design.

    What are the top 10 businesses to start?

    The ten most profitable business opportunities in India that you can start are Digital Marketing Services, Content Writing, Tutoring App development, and Dropshipping Business.

  • 7 Tips To Be Followed For Better Optimised Communication Between Remote Teams

    Communication is said to be the key to success. But when we talk about remote working, communication management is one of the major issues faced by remote teams. With undetermined ongoing situations, working remotely is one of the best options available. The pandemic was a life-changing point for almost everyone. Pandemic proved as the biggest challenge for working people. The normal office work was no longer accepted by the undergoing situations. Hence, Remote work earned its part during this period.

    The acceptance of remote working required many changes in the working pattern of each employee. With the office work directly converted into remote working. There were many issues faced by employees as well as leaders. One of the major issues faced was having proper communication between team members.

    If you are also looking for a way to handle better communication between team members, check it below for a few useful tips. But before actually going to the tips, let us discuss the types of communication.

    Types of Communication
    Issues in Communication Between Remote Teams
    Tips for Better Optimized Communication Between Remote Teams
    FAQs

    Types of Communication

    Communication can be of two types, Synchronous and asynchronous.

    Synchronous

    In this type, direct communication takes place. This is mainly done when quick action is needed. Synchronous communication includes quick and real-time communication between two or more two people. The way for synchronous communication in remote working teams can be achieved through the use of instant messaging, call, instant email replies, etc.

    Asynchronous

    In this type, the conversation is not immediate. It is more like having a conversation with timed replies. A most famous example of this is email. When we message someone without the expectation of having a spontaneous reply, it can be counted as asynchronous communication.

    Issues in Communication Between Remote Teams

    • The major issue is due to different time zones.
    • Having different priorities set up.
    • Technical issues take up most of the educated time.
    • The language barrier between different team members, etc.

    Tips for Better Optimized Communication Between Remote Teams

    1. Proposing Set Guidelines

    The issue faced by remote teams can be eliminated to an extended limit by setting clear guidelines for every member. The proper guidelines and clear settee rules can help workers to know their work and the system workflows.

    2. Arranging Video Conferences at a Predetermined Schedule

    Providing a proper schedule at the start of the week or month can enable the workers to set up their time in a particular format. If someone has a technical issue, they can look before some time to get it resolved and have good communication over the conference.

    3. Giving Frequent Feedbacks

    When the working system is confined to a single building, it is much easier to understand the basics of the work. However when it comes to the remote working team. It is very essential to give out feedbacks at an interval of time. It can enable the team members to know what they should do and what all is accepted by others.

    4. Selecting Proper Tools

    It is very important to have a set of tools arranged for communication purposes. Sometimes, one particular tool can run into a technical error or can not be accessible by everyone. Hence it is advisable to have a set of tools arranged for communication.

    5. Essential Information should be shared on a Single Platform Only

    When we say it is advisable to have more than one communication platform approved for the remote working teams. People tend to get confused with the sharing of information also through multiple sources. It is best to share essential information through a single platform only. Sharing essential information by the means of multiple platforms can make workers confused.

    6. Keep the Format Simple

    Irrespective of the message you want to convey. Try keeping its format and language simple. Online communication is known to create misunderstandings a lot. Hence proper message and in a good format should be applied. Another thing to remember is not all can understand simple words. Sometimes there might be a need for good innovative diagrams attached to it. Proper format is more essential in conveying rules.

    7. Have a Personal Check Over Team Members

    Doing office work is hectic and tiresome sometimes. But we are surrounded by our colleagues and friends to watch over. But when the same thing is compared with remote working, it can get truly tiresome and confusing with no good support. Hence it is suggested to have a personal check on each team member after some interval to check out their issues. This step can also allow a good communication bond between different team members.

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    Conclusion

    The few recent years have proved to be a revolutionary period. Many changes were adapted to make the normal routine work. Hence, The remote working pattern learned much popularity during the pandemic. But changes are not soo easy to be adapted. And one of the most common issues found is the hindrance in communication between different team members of the Remote team. Some of the effective ways to communicate with the remote working team have been discussed above.

    FAQs

    Why is communication important in remote work?

    Employers who engage in providing open channels of communication will quickly gain employee trust, resulting in increased productivity, output, and overall morale.

    How to have better communication between remote teams?

    We can have better communication between remote teams by Proposing set guidelines, arranging video conferences at predetermined times, giving frequent feedback, selecting proper tools, keeping the format simple, etc.

    What are the advantages of the remote working system?

    Remote working has many advantages over a normal office routine. Some of the people found remote working more productive. Remote working can also allow more flexibility in working.