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  • Best Practices For Finding And Hiring Freelancers

    Of all the different types of workplace flexibility out there, freelancing is perhaps the most flexible. One of the best decisions you can make in order to keep your business competitive and growing is to hire freelancers. It doesn’t matter if you’re starting as an entrepreneur, or want to scale your business, or just looking to migrate to a friendlier paradigm workplace within your business.

    For any type of business, there is a myriad of benefits of hiring freelancers. Let’s take a look at the best practices for hiring freelancers, what to avoid, how to find, where to find and the benefits of hiring them.

    Best Practices For Hiring Freelancers

    Don’ts of Hiring Freelancers

    3 Ways to Find Awesome Freelancers

    Top 4 Benefits Of Hiring Freelancers

    Conclusion
    FAQs

    Best Practices For Hiring Freelancers

    By bringing little changes to your hiring practices to assess remote talent, you can attract a wider pool of freelancers to choose from while simultaneously reducing operational costs.

    Here are the best practices to follow when hiring freelancers to support your business.

    Identify Best Platforms

    It’s not easy to find remote professionals with good references and the exact abilities that you need. You need to find a specialized platform that allows you to look for them by category. Browse their record with other clients and protect the investment you make in each hiring process.

    Best freelancing platforms to find and hire freelancers.
    Best freelancing platforms to find and hire freelancers.

    59% of businesses surveyed said they use a freelance platform to source talent. These platforms let businesses advertise opportunities, promote themselves and access freelancers in international markets. Sites like Freelancer, Fiverr, Upwork and Guru, specialist platforms like Commtract and The Freelance Collective vet freelancers before listing them.

    Share Your Big Picture

    Share your big picture with the freelancer, i.e. why you are hiring them and how will their work fit into your main project. This little insight helps them better understand your expectations, ask better questions, and most importantly deliver better results.

    Set Criteria And Filters Beforehand

    Hiring a freelancer is also a recruiting process and just like other processes, setting filters and appropriate criteria will help you save time and select the best profile. For example, you can include specific forms or notes in your proposal to see if the freelancer is paying attention or following instructions or has provable experience in similar projects.

    Optimise Your Payment Process

    Remember when you are paying an independent employee you are making an investment, and this should be congruent with the service you expect to receive. Offering a fair salary means you are conscious of the value that the freelancer’s work will have for your business, and that you can adjust the budget range in consequence.

    Best Payment Options For Freelancer
    Best Payment Options For Freelancer

    Knowing how to manage payments is key to attracting and retaining the right talent. More than 75% of businesses using freelancing platforms pay directly through the platform or use PayPal. When it comes to paying freelancers, the research found the following factors are most important to them:

    • Security (47%)
    • Speed in receiving payments (33%)
    • Ease of withdrawing money when paid (31%)
    • Fraud protection (22%)
    • Pricing (22%)

    Mobile Compatibility is Key

    Mobile payments, mobile apps and mobile communication continue to grow in importance and usage for freelancers. Having mobile tools and be able to make and receive payments play a crucial role in this gig economy.

    Align on Communication Preference

    Communication issues are the biggest reasons for failed freelance gigs. Before working with any external partner, share your communication preferences with them and ask them to do the same. For example, you can specify that an individual worker can send an email to reach you anytime, but you will only respond during standard business hours. Freelancers typically set their own schedules and may work after business hours or on weekends, or they may be in a different time zone. This way you both would know which time is perfect to contact each other.

    Give and Request Candid Feedback

    Freelancers thrive on feedback. Your job is not only to give them honest feedback on what you loved/did not love but also to ask them for their feedback on you. Very often, the freelancer’s experience allows them to make very useful suggestions to improve your projects or even to propose creative new strategies to keep growing. Take advantage of all that knowledge and seize it as much as you can.

    Things to know before hiring a freelancer

    Don’ts of Hiring Freelancers

    There are certain things that you need to avoid during your hiring process. Knowing these details will allow you to conduct the hiring process effectively and efficiently.

    Don’t Let The Lowest Price Be The Selection Criteria

    Freelancing saves a lot of money but that does not mean you should go for the cheapest one. It is important to have a collaborator who fits in your project budget but ensuring the quality of work is equally important. The skills and experience of the freelancer should be taken into consideration while deciding the rates.

    Don’t Look Away From The Guarantee Of A Job Done

    Check what and how these freelancers have worked before. Keep track of their work. Having an open communication channel helps build client-freelancer relationships. Make time to discuss work and issues so that you and the freelancers would be on the same page. Keeping track of the work and maintaining good communication with the freelancers improves the chances of getting quality work in time. Also, give them honest feedback. Your feedback is important. A happy client means a return business to them.

    Don’t Start Working Without Having Perfectly Clear Expectations From Each Other

    It is better to clear the expectations about work hours and payment right from the beginning. You should never accept or start working on a project unless you have provided every single specification to the freelancer. A good freelancer will ensure that they inform you about the specifications of the tool and project budget.

    3 Ways to Find Awesome Freelancers

    You can scour the internet to find high-quality freelancers, but there are more reliable (and productive) ways to find the best freelancers and consultants for your needs. These three methods lead you to talented freelancers without the hassle:

    Ask For Referral

    Your professional and personal networks are the best places to find freelancers. Start by asking your coworkers, former colleagues, and industry contacts for referrals. Chances are, they will do the work for you and pass along some talented folks.

    Reach Out To Local Trade Organisation

    Freelancers love to connect through their own networks. Instead of using a freelance site, reach out to a local trade organization to find top-notch talent. If you need a freelance writer, email the head of a writer’s group in your city — the same goes for developers, designers, consultants, bookkeepers. You could look into Meetups as well!

    Check Out Secret Hive

    Most companies don’t know about the best online resource for finding amazing freelancers — it floats just under the radar. The Freelancer Union’s Hives are the go-to spot for independent contractors for all things freelance. Post your project on their Work Hive, and watch as the responses flood into your email.


    Best Ways To Outsource Your Jobs to Freelancers | Freelancing Jobs
    What does outsourcing essentially mean? It means that there are certain tasks inyour company that for certain reasons you and your current employees are unableto do. So you give that work to someone else who is not a part of the maincompany. It’s not as simple as it looks. But it is best to outso…


    Top 4 Benefits Of Hiring Freelancers

    Benefits of Hiring Freelancer
    Benefits of Hiring Freelancer

    Savings

    Hiring by project or by hours instead of having a permanent employee allows you to save a lot in hiring costs and fixed salaries. It also encourages to work by goals, which is the most efficient way to work. One of the most obvious reasons why businesses are hiring freelance developers is that it is very cost-effective to do so.

    On top of paying annual salaries to full-time developers, you also have to pay for legally required benefits, insurance, paid leave, retirement and savings, supplemental pay (overtime and premium), and much more. Unless you’re hiring remote developers, there are also overhead and general & administrative costs.

    Flexibility

    Freelancers move like fish in the sea in a commercial environment characterized by change and constant evolution. They work on simultaneous projects; they have a more diverse experience and they can offer a wider and more assertive vision of the solutions that your company needs.

    Whether you’re a startup founder or an engineering manager, being able to hire quickly and as-needed is one of the most attractive reasons to work with freelance developers. Imagine this: the IT project manager calls the entire development team into the meeting room and lays down a close-to-impossible timeline for your project. You have three people on the team but you’ve just been asked to deliver five people’s work. This is where freelancers can help you. You can hire them just for this project and then free them. This provides a lot of flexibility.

    Global Market And Access To Talent

    Thanks to online freelance platforms, businesses can now hire the best freelance developers from around the world for their projects. Furthermore, businesses located in more expensive areas of the world can easily hire quality freelance developers at a much lower cost. By hiring freelance developers, you wouldn’t have to worry about visas or relocating someone. Not only you can find freelance developers who are ready to work immediately, but you can also hire domain experts, saving time and money.

    Specialisation

    There has been a growth of freelancers in the business because the industry is demanding more specialized talent. Let’s say you’re trying to find a web developer well-versed in Go because it scales nicely and can handle high concurrent performance issues. Even though Go is an awesome programming language, there is a relatively small pool of developers skilled in it, especially if you’re limiting the search to specific locations.

    Hiring a freelance web developer who specializes in Go would be significantly easier. Maybe you’re not looking for something as niche as a Go developer. Let’s say you want to develop an Android app. Even though the developer you are currently working with is somewhat familiar with mobile development, he or she may not be an expert in Android development. A freelance developer who specializes in developing Android apps will definitely deliver better results.

    What can you use freelancers for?

    While freelancers offer a range of unique and specialist skills, businesses are most likely to use them for technical and creative projects. The most popular freelancing skills are:

    Most Popular Freelancing Skills
    Most Popular Freelancing Skills

    Conclusion

    Giving importance to the above-mentioned information when hiring a freelancer will ensure a good experience for both and it will ensure the addition of a valuable ally to your team.

    FAQs

    What are the best practices to follow when hiring freelancers?

    Here are the best practices to follow when hiring freelancers to support your business.

    • Identify the best platform.
    • Share your big picture.
    • Set criteria and filters beforehand.
    • Optimize your payment process.
    • Mobile compatibility is key.
    • Align on communication preferences.
    • Give and request candid feedback.

    What is the best way to find and hire a freelancer?

    There are many websites and freelancing platforms where you can find a freelancer who has the exact skillset that you are looking for. Some of them are:

    • LinkedIn.
    • AngelList.
    • Upwork.
    • Freelancer.
    • Fiverr.
    • Indeed.
    • Profinder by LinkedIn.
    • Toptal.
    • Contently.

    Which freelancing jobs are most in-demand?

    The most popular freelancing skills are:

    • Web design.
    • Programming.
    • Graphic design/illustration.
    • Web/mobile development.
    • Web marketing and sales.
    • Accounting.
    • Data entry and internet research.
  • Top Startups Funded By Trifecta Capital: A Rope To Reach Success

    To build a startup, one needs more than talent, perseverance, and desire. On that list of necessities, funds take the number one spot. For any kind of startup, getting funds is definitely not a piece of cake.

    Trifecta Capital with its existence makes acquiring funds a little bit easier for startups. The traditional way of getting a loan from a bank is not that easy, not every new company gets that help.

    Thankfully, venture debt like thing exists in reality. Trifecta Capital here plays a significant role. It is one of the companies that put its trust in the startups that have the potential to reach the peak of success. At this age, having someone, who puts their trust in you, is something, that is truly rare. Trifecta Capital lends its hands to new businesses and takes a pledge to rise with them together.

    We rise by lending a hand to others.

    -Svetlana Fernandes

    About Trifecta Capital

    Trifecta Capital is the first company in India, that provides venture debt to startups. It first steps its foot in the business world in the year 2014, as a venture debt firm. It was founded by Nilesh Kothari and Rahul Khanna. The firm mostly focuses on, early growth stage companies and had invested almost ₹1800 Crores from 2015 to 2020.

    At first, it launched with a ₹500 Crore fund. Trifecta with its ways gets to be a part of the growth of different companies. It has invested in over 70 companies and counting. Their aim is “Financial offering designed to help you at every step of your journey to success.”

    Trifecta definitely has one of the strongest portfolios. It has funded some big names in the business and has been a part of their growth process. Some of those companies are: Lets look at Business Funded By Trifecta Capital

    BigBasket
    Infra.Market
    PharmEasy
    DailyHunt
    ShareChat
    Cars24
    CarDekho
    Ninjacart
    Vedantu
    BharatPe
    FAQ

    BigBasket

    Bigbasket Logo
    Bigbasket Logo

    The largest online grocery store in India, Bigbasket delivers grocery and household items to the customers. Founded in 2011 by Hari Menon, Vipul Parekh, VS Ramesh, VS Sudhakar, and Abhinay Choudhari. BigBasket has taken an initiative to deliver fresh grocery items to the doorsteps of every household that demands them.

    BigBasket secured a new deal with Trifecta in July 2019 and fixed a venture debt of ₹100 Crores. Before that, in 2017, Trifecta lend its hand to BigBasket by providing a fund of ₹45 Crore. This time, BigBasket stated that the ₹100 Crores fund will mostly use in supply chains and warehouses. The Covid-19 pandemic led to a sharp 84% rise in the number of its consumers. As per the Financial year 2021, this e-commerce revenue is INR 3818.2 Crores.

    Infra.Market

    InfraMarket Logo
    InfraMarket Logo

    The construction solution company uses technology to organize the construction industry and make the price of materials more transparent. It was founded in the year 2016 by Aaditya Sharda and Souvik Sengupta. It deals with the real estate and construction industry and is a platform that connects clients to those who provide materials at an affordable cost.

    In the year 2020, Infra.Market raised ₹40 Crore as venture debt from Trifecta. It fund was reportedly used for geographical expansion. As per the year 2021, Infra.Market’s revenue is $700 million.

    PharmEasy

    PharmEasy Logo
    PharmEasy Logo

    Another online business, this time it deals with the purchase and delivery of medicine and other medical supplies. It is India’s finest pharmacy app. The best thing is, the customers receive the medicine within 48 hours of their order placement.

    It came into existence in 2014 and is founded by Dharmil Sheth, Dhaval Shah, and Mikhil Innani. It connects the consumers with pharmacy stores that are situated nearby and helps in getting medical supplies in just a click.

    Trifecta invested ₹15 Crore in PharmEasy in the December of 2017 as the venture debt. Later in 2018 E-pharmacy startup PharmEasy raised Rs 40 crore of debt from Trifecta. India’s top Pharmacy app decided to use the fund provided by Trifecta to develop their technology to establish more smooth performance. As per the financial year 2020, the revenue of PharmEasy is ₹637 Crore.


    List of Startups funded by Nexus Venture Partners
    Nexus Venture Partners is one of the most well known early stage investment firms in India. Here are some of the startups funded by Nexus Venture Partners.


    Dailyhunt

    Dailyhunt Logo
    Dailyhunt Logo

    This mobile application software has taken it upon itself to provide news on all trending topics. Founded in the year 2007 by Umang Bedi, Umesh Kulkarni, and Virendra Gupta, it is serving Indian customers every day since then. It is based in Bangalore, India.

    Trifecta has invested a confidential amount of money in Dailyhunt. As per the financial year of 2020, the revenue of Daily Hunt is ₹310 Crore

    ShareChat

    ShareChat Logo
    ShareChat Logo

    It is a social media and social networking service (SNS) founded in the year 2015 by  Ankush Sachdeva, Bhanu Pratap Singh, and Farid Ahsan. The best part is, it is available in 15 regional languages of India. As its name suggests one can share content and it has the feature of the direct message as well.

    In the year 2020, ShareChat secured a deal with Trifecta and got a venture debt of $8.86 million. The revenue of ShareChat is ₹38.12 Crore as per the financial year of 2020.

    Cars24

    Cars24 Logo
    Cars24 Logo

    Cars24 is an online marketplace to buy and sell previously owned cars and bikes. It was founded by Gajendra Jangid, Mehul Agrawal, Ruchit Agarwal, and Vikram Chopra in 2015. It is now quite easy to sell a car, which was quite a hassle before, thanks to Cars24. It is considered one of India’s fastest-growing marketplaces for selling used cars.

    In 2017, the then two-year-old company was able to strike a deal with Trifecta. At that time, Trifecta invested a non-disclosed amount in the company. This time, Cars24 seal a deal of ₹100 Crore from the venture debt firm Trifecta in June 2021.

    With the demand spurring for used cars in the country, Cars24 will use this fund to make its business more strong in the industry. In return, this will help it become a strong competitor for its rival businesses. The revenue of Cars24 is ₹1688 Crore.

    CarDekho

    CarDekho Logo
    CarDekho Logo

    This is an online platform where one can sell and buy cars. It provides every bit of information about the automobile industry. It is based in Gurgaon, India, and was founded in the year 2007 by Amit Jain and Anurag Jian.

    In the year 2018 CarDekho raises a fund of $3.6 million from Trifecta and in 2021 they again got venture debt of ₹100 Crore. As per the financial year 2020, the revenue of CarDekho is ₹240 Crore.


    Top 5 Startups Funded by Tiger Global Management
    Tiger Global Management, LLC is an American investment firm that invests in various startups. Here are top Top Startups funded by Tiger Global Management.


    Ninjacart

    Ninjacart Logo
    Ninjacart Logo

    It is considered India’s largest platform of the fresh produce supply chain. It was founded by Ashutosh Vikram, Sharath Babu Loganathan, Thirukumaran Nagarajan, Vasu Devan in the year 2015. It helps in distributing fruits and vegetables directly from farmers to buyers.

    In the year 2018, Ninjacart raised ₹7 Crore venture debt from Trifecta Capital, and again in 2019, it secured a deal venture debt of almost ₹20 Crore. As per the report, the funding is being used for the growth of infrastructure and the technology Ninjacart uses. The revenue of this company in the 2020 financial year is ₹469 Crore.

    Vedantu

    Vedantu Logo
    Vedantu Logo

    Founded in the year 2011, Vedantu is an online tutoring platform for students. Here, one can find any subject tutor according to their choice and indulge with them in studies. The platform provides ‘LIVE’ one on one session between the teachers and the students. It is created by Vamsi Krishna, Pulkit Jain, Saurabh Saxena, and Anand Prakash.

    The app is extremely popular among students as it provides online tutoring. With superior technology, they are trying to engage in building up the biggest learning platform for students. It focuses on providing quality education and good teachers to the users of the app.

    The venture debt firm Trifecta invests ₹9.42 Crore in Vedantu in the year 2019. This made the online platform’s value $100 million. Vedantu caters to the needs of over 40,000 students from all over the country.

    BharatPe

    BharatPe Logo
    BharatPe Logo

    Founded in the year 2018 by Ashneer Grover, Bhavik Koladiya, and Shashvat Nakrani, this financial service provider company mostly deal with payments via UPI. Based in New Delhi, India this company provides loans to its traders as well.

    Trifecta funded ₹50 Crore to this Fintech company in 2021, the fund will be used for the growth of the lending business. The revenue as per the financial year of 2021 is ₹700 Crore.

    Future Plans of Trifecta Capital

    Trifecta is trying to help the startups that have high growth potential by providing them with funds and have a mission to make India one of the main hubs of Startups.

    Conclusion

    We live in a time where getting funds to begin with a startup is quite difficult. Trifecta started their journey to be the hope for those budding startups that showcase high growth and has a possibility of becoming a big brand in the near future. It is working and lending a helping hand to the dreamers to make their dream a reality, thus, their motive is to rise by lifting others.

    Some of these companies are breaking the business world every day and proving their mettle by keeping the trust of Trifecta. Let’s learn about those companies a little bit.

    FAQ

    Where is Trifecta Capital Located?

    Trifecta Capital is based and operates from Mumbai.

    How much Trifecta Capital has invested?

    Trifecta Capital has invested over ₹2200 Crore since 2015.

    Who is the founder of Trifecta Capital?

    Nilesh Kothari and Rahul Khanna are the founders of Trifecta Capital.

  • How can Small Textile Brands Recover from the Pandemic? | Survival Tips for Textile Industry

    In the course of the ongoing pandemic, many businesses faced a downfall in their progress of making a profit. Likewise, small textile brands encountered a behindhand in making a life out of the pandemic market.

    While the small textile brands are highly populated by poor people, in order to make a small earning by stitching, embroidering and threading clothes all day. After the government of India proclaimed lockdown, many small scale industry workers returned to their hometowns and migrated, waiting to get circumstances back to normal.

    Things were normal when the Government set a time duration to conduct their respective business i.e. 10 am to 6 pm. Whereby, small textile brands worked for 24 hours to meet the targeted profit of the day or month or year. But, the coronavirus unfettered the nation with high cases from April to July 2021, imposing tight lockdown again.

    According to the reports, it is stated that 70% of workers didn’t return to work and saw a 60% drop in the sales of textile. On the other hand, the small textile brands faced an epic hurdle in purchasing raw materials from the suppliers as it is unsafe in trading, due to escalating death rates in the country.

    Besides, the small textiles have to accept those who are willing to do any task, as the industry is facing a lack of manpower. As is the case, there might be unskilled workers joining the small textiles brands which ultimately leads to the production of low-quality textiles; and people won’t buy poor quality products.  Besides, the small textile brands are bungling the concept of technology.

    Here, we’re gonna discuss the chance of small textile brands to expand their market from the effect of the ongoing pandemic.

    Impact of the Covid-19 Pandemic on the Textile Brands
    Things that hampered the production of small Textile units
    How can Textile brands survive the Pandemic
    FAQ

    Impact of the Covid-19 Pandemic on the Textile Brands

    The whole Covid-19 pandemic situation made the economic status of the entire world go upside down. As per the study, the 2020’s economy has gone down by –3%.

    The world faced a major fallback economically correlated to the 2008–2009 financial crises and the surveys say that it may take at least a year to attain the normal state and solidify their thrift. India is one of the major countries that encountered a high difference, definitely not in a good way.

    Considering the available resources and fast-growing markets many foreign institutions were ready to invest in India, and that may have cultivated a huge disparity in the availability of employment.

    The textile industry has a huge part in employment creation in India. The closing of the mart ended in creating an unpleasant reaction in the growth of the textile industry; few minor cloth crews curbed their exposition.

    Due to the low profit, many units limited their human resources and there were pay cuts. Out of all states, the worst pretentious states in cloth manufacturing during the epidemic are Punjab, Gujarat, Maharashtra and Tamil Nadu.


    Impending Challenges in 2021 for Small Businesses
    The Covid outbreak was uncertain for all of us, but small businesses were the most affected ones. So, here’s a case study on Challenges in 2021 for Small Businesses.


    Things that hampered the production of small Textile units

    Fewer Transportation Facilities

    Transportation is the primary element that makes a huge effect on production. The businessmen need transport to supply the product, to get the raw materials and to deliver the goods.

    Due to fewer transport facilities during the lockdown, the transportation of goods and buying of fresh products for sales were halted. The people were not even able to deliver the finished products.

    No Labours

    As transport was not available frequently, the migrant workers shifted back to their hometowns. Their wages were cut short and the companies curtailed human resources.

    Bihar, Jharkhand, Uttar Pradesh and Orissa are the states that produce large amounts of human resources, considering the less income, transport problem and their health risks, they moved to their places. So the limited availability of the labourers resulted in the production.

    Lack of Raw Material

    During the pandemic, the demand for the raw crops reduced and due to that agriculture underwent. As the overall demand for the crops reduced, the production of cotton and silk were also reduced, resulting in less or no availability of raw materials. And as the chemical units were focusing on other significant courses, the dealings of synthetic lessened and the synthetic textiles were affected.

    No Capital

    Many small textile units were shut down as the production and earnings lowered.

    Market size of the Textile Industry in India
    Market size of the Textile Industry in India

    How can Textile brands survive the Pandemic

    Well, in some way or the other, many businesses are recovering the loss from the effect of the pandemic by engaging efficiently in producing and serving the goods to the customers. And in the case of small textile brands also hyped their production in many ways during this ongoing pandemic.

    Unlike other industries, small textile companies lack digital marketing and ergo became a great drawback in achieving their goals.

    Here are some ways that the small textiles industries could employ to stay resilient in the market from the effect of the ongoing pandemic.

    Make sure workers are Safe and Vaccinated

    During the first lockdown in the nation, many small scale workers migrated as per the government rules. So, the first thing that small textile brands should take care of their workers is to prevent the fatal virus across the nation, whereby the necessity of healthcare nearby, nutritious food and safe & hygienic shelter should be rendered to the workers and make sure their vaccinated.

    Stay Informed with the Latest Government Guidelines

    Secondly, small textile brands should stay informed; the Government should inform the measures and up-to-date information regarding the pandemic to the small textile industries. As is the case, they will take necessary protocols assigned by the Government in order to prevent the spread of coronavirus.

    Make sure your financially stable to operate your business

    The small textile brands should be financially stable in meeting requirements such as paying wages to the workers, purchasing raw materials, light & power, fuel and transportation and so on.

    Furthermore, industries should be producing goods & services at a minimum cost of production and maximum optimization of the product.

    Stay in touch with your key stakeholders

    Small textiles brands should be in touch with their key stakeholders in order to sustain an affiliate relationship with them.

    Provide Recess time for Workers

    Brands should provide recess time for workers, who are working 24/7, as this would aid to reduce the cost of excess labour & augment efficiently and effectively in the production of goods and services.

    Make necessary changes according to the environment

    Lastly, the small textile brands should accomplish the set of goals without any objections in doing so and respond to any changes happening in the working environment.

    If the above points are followed by the small textile brands, then the chances of getting opportunities in the market are high during the pandemic.


    What will be the Scenario after Coronavirus Outbreak?
    Many economists suggest that recession is bound to happen considering the ongoing threats and situation in which businesses are shutting down, Checkout the possible scenario after Corona outbreak.


    Conclusion

    The countries confronted a huge economic deterioration. No country was nimble to evade the losses that the pandemic resulted in. The economic rate of the country is poorly approximated to the financial crisis the world faced in 2008–2009. But it doesn’t mean it’s not possible to improve it.

    Fetching back to regular and recouping the stability like before the pandemic may take a few months or also years. And the small textiles that faced a great loss have to find a way to improve their state. They have to create new strategies to sell their products in a modern way and yet not skip and obey the government protocols.

    FAQ

    What is textile business?

    The Textile industry consists of the design, production and distribution or marketing of yarn, Fabrics or readymade clothing.

    Which city is famous for textile in India?

    Bhilwara is India’s largest manufacturer of fabrics and is also known as Textile City of India.

    Is textile industry profitable?

    Yes, textile industry is considered as a profitable industry for new and aspiring entrepreneurs.

  • Why did the Crypto Market Crash in 2021?

    We are at a time, where digital currency holds the utmost importance, in our life. Payment card, UPI, and now cryptocurrency, it seems like complete domination is inevitable.

    The digital currency has literally grasped the mind of people and the big stacks of notes may become obsolete in the future. In recent years, Cryptocurrency has somehow started gaining momentum, especially amongst the younger generation. So much is the craze that almost everyone is willing to invest some funds in them.

    Cryptocurrency at this point has been able to gather attention on itself from everyone. Some are already investing, some are speculating, and some are just watching it from the side. Whatever it is, the world’s eyes are on this, and it cannot be ignored anymore.

    The rising star suddenly got a bump in the road, this year in the month of May, Cryptos suddenly saw a great deal of decline, and the market got crashed. Again on the mid of September, the market crashed and somehow it has created tension.

    “As the value goes up, heads start to swivel and skeptics begin to soften. Starting a new currency is easy, anyone can do it. The trick is getting people to accept it because it is their use that gives the ‘money’ value.”

    – Adam B. Levine

    In this article, we will find out about the reasons for the crashing of the Crypto market. Before that, let’s find out about what Cryptocurrency is.

    What Is Cryptocurrency?
    The Reasons For Crypto Market Crash
    FAQ

    What Is Cryptocurrency?

    A cryptocurrency is a form of digital currency that is decentralized in nature, with the help of Blockchain technology that means it is not controlled by the government or any other mediator.

    It is the direct exchange of this digital currency between two people. People use this to buy goods and services but mostly they are used for investment. Most of the countries still haven’t declared it as legal tender.

    There are some common forms of cryptocurrency that are used in the world and they are:


    Cryptocurrency is readily redefining the future of finance sector in India
    Cryptocurrency or digital currency has a huge impact on Finance industry and it is helping it grow over and above. It is attracting attention all over the world


    The Reasons For Crypto Market Crash

    As mentioned above Crypto market crash in the month of May and again in September of this year, the fluctuating nature of cryptocurrency is creating uncertainty amongst investors and others. There are a few reasons that can be identified to be the cause of the crashing of the cryptocurrency market.

    Elon Musk Denies Cryptocurrency

    In the month of March 2021, Elon Musk the CEO of Tesla, the most valuable car company announced that they are willing to accept the most popular cryptocurrency, that is Bitcoin as a payment method in the USA. With that, it was also said that they will try to introduce this payment method in other countries as well.

    The problem arises when Elon Musk declared in the month of May, that they will not allow any cryptocurrency as a method of payment, the main reason for this, they portrayed was the environmental issues. As bitcoin mining required a huge amount of electricity, it is not eco-friendly enough, this statement leading to 30% crashing of major cryptocurrencies like Bitcoin, Ethereum, and others.

    Elon Musk tweet about Tesla & Bitcoin
    Elon Musk tweet about Tesla & Bitcoin

    By the month of July, the market experienced a 50% dip, and that was quite a lot. Bitcoin faced a 35% plunge at that time.

    Bitcoin Price after Elon Musk tweet
    Bitcoin Price after Elon Musk tweet

    We can say that, although cryptos future seems great, but it not being environmentally friendly is causing it a great deal of concern. The news causes apprehension and over 8 lakh traders decimate their investment.

    China’s Ban On Cryptocurrency

    The reason for the crypto market crash in May was not only Musk’s Tesla but also China’s ban on financial and payment institutions of using cryptocurrency. All the popular ones like Ethereum, Cardano, and Dogecoin showed a dip of 15% to 20% after the major blow.

    China asked the institutions to refrain from providing services to those who are trying to get them by using cryptos and ordered banks to stop providing support to cryptocurrencies. China even instructs bitcoin has to close down its mining operation in Sichuan and like that it got shut down there.

    Even though this prevention did some damage to this digital currency market, in August the market saw a surge, and as per the report, the value rise above $2 trillion.

    The good weather didn’t stay good for a long time; China central bank permanently announced that any transaction done with cryptocurrencies is illegal and banned any type of virtual currencies use.

    As per them, it placed people’s assets in danger. China banned the trading of cryptocurrencies in 2019 but foreign exchange through online continued happening.

    This announcement of China in the month of September of 2021, put the last nail on the coffin of the crypto market in the World’s most populous country. Following this announcement bitcoin showed a 9% drop again.

    China was one of the top names in the crypto industry but this sudden move has plummeted the virtual currency business in the country, with that it has also destabilized the entire crypto market of the world.


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    Conclusion

    Although this fluctuating nature of cryptocurrency is turning people’s heads more towards into them but with industry giants like Tesla giving up and refraining from considering crypto coins as a method of payment is straining the virtual currencies presence in the market.

    Not to forget China’s ban on crypto is questioning the digital currencies’ entire authenticity because of that people are now being skeptical over-investing in them.

    FAQ

    What is cryptocurrency?

    Cryptocurrency is a digital currency that is decentralized in nature.

    Is Cryptocurrency Banned In China?

    China’s Central Bank termed all virtual currency transactions illegal, which is done by cryptocurrency from 24th September 2021.

    What is the reason for Cryptocurrency crash?

    Cryptocurrency crashed in may because Elon Musk denied purchase of tesla using bitcoins and later China banned all the cryptocurrency transactions.

  • List Of Brands Endorsed By Shahid Kapoor

    Shahid Kapoor was born to a Bollywood film family on 25th February 1981. His father Pankaj Kapoor is a popular Indian television, theatre, and film actor. His mother, Neelima Azeez is also an actress as well as a classical dancer. Despite being born to celebrity parents, Shahid had faced a lot of struggles, ups, and downs in the Bollywood industry. He started his career as a junior artist and background dancer in TV commercials and Bollywood movies.

    The Bollywood journey of Shahid debuted with ‘Ishq Vishq’ in the year 2003, which is a romantic comedy. This movie was a blockbuster and gave Shahid a romantic hero image. He could be seen in several romantic and action movies. He had come a long way through Indian Cinema.

    Being a versatile actor with a successful career, Shahid has been roped by many international brands. He has been associated with several brands. Shahid Kapoor’s brand endorsements are listed below.

    List of Brands Endorsed By Shahid Kapoor

    FAQs

    List of Brands Endorsed By Shahid Kapoor

    Colgate

    Colgate - Brands Endorsed By Shahid Kapoor
    Colgate – Brands Endorsed By Shahid Kapoor

    Colgate is an American brand focused on oral hygiene products. Toothpaste, toothbrushes, dental floss, mouthwash are their main products. The brand is owned by Colgate-Palmolive company, established around 148 years ago.

    Recently, Colgate introduced their mouth protect spray, Colgate Vedshakthi. Shahid Kapoor who already has an endorsement relationship with the brand can be seen in the advertisement of Colgate Vedshakti mouth protect spray.

    The ad showcases Shahid Kapoor personally, who loves riding a bike. It’s like meditation. The ad also focuses on the safety measures to be carried while going for a bike ride such as shoes, gloves, and helmets. Along with these, the mouth protect spray protects us from germs, which also gives long-lasting freshness behind the mask. The advertisement is very prominent in our current situation.

    Shahid is a youth icon and a stylish star, is the best choice for this mouth protect spray from Colgate Vedshakti.

    Shahid Kapoor Endorsed Brand- Colgate

    Dulux Paint

    Dulux Paint - Brands Endorsed By Shahid Kapoor
    Dulux Paint – Brands Endorsed By Shahid Kapoor

    Dulux paint is one of the top paint companies in India. It has been offering services for more than 100 years. Over the years they have improved, expanded, and transformed. It is one of the well-known decorative coatings brands in India. They provide service to different sectors, such as domestic and industrial purposes. The brand is committed to safety, environment and security, and health. They run their business by taking care of the people and the environment.

    Shahid signed for their endorsement years back and is continuing the relationship with the brand. Many tv commercials had been released with him.

    Shahid Kapoor Endorsed Brand – Dulux Paint

    Brut

    Brut- Brands Endorsed By Shahid Kapoor
    Brut- Brands Endorsed By Shahid Kapoor

    Brut perfumes roped Shahid Kapoor as their brand ambassador and the ad was quite impressive in the world of perfume ads just meant to attract the opposite gender. The deodorant company just claims that it smells good, lasts long and that’s it.

    Shahid Kapoor is a glamorous and romantic hero is placed in the ad to attract the youth but by just claiming the truth. One of the best ads done by Sahid Kapoor so far.


    Shahid Kapoor Endorsed Brand – Dulux Paint

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    U&I

    U&I - Brands Endorsed By Shahid Kapoor
    U&I – Brands Endorsed By Shahid Kapoor

    U&I is an electronics and accessory brand. It is an Indian brand established in 2019. The brand promises its products are a fusion of innovative technologies, unique designs, and great prices. They claim to deliver high-quality gadget accessories through the Indian market.

    Shahid Kapoor, being an attraction to the Indian youth is selected as the brand ambassador of U&I and he is also considered to be one of the most elegant and dynamic actors in Bollywood today. The founder of U&I, Mr. Paresh Vij finds Shahid Kapoor to be the best for their brand.


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    Aramusk

    Aramusk - Brands Endorsed By Shahid Kapoor
    Aramusk – Brands Endorsed By Shahid Kapoor

    Aramusk is a brand owned by Wipro Consumer Care & Lighting( WCCL). The brand includes deodorants and soaps, for which Shahid is selected as the brand ambassador. The WCCL is the fast-moving consumer goods brand by Wipro. The brand Aramusk was acquired by WCCL in 2011 from VVF. They were only manufacturing soaps under this brand name. After acquiring, they widened the range of products from only soap to deodorant, talc, shaving foam, shaving cream, etc. The brand encourages male grooming. For this, Aramusk chooses Shahid Kapoor to be their face.


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    Sirtex Eazy

    Sirtex Eazy Innerwear - Brands Endorsed By Shahid Kapoor
    Sirtex Eazy Innerwear – Brands Endorsed By Shahid Kapoor

    Sirtex Eazy is one of the best brands in India for knitted garments. They include innerwear as well as casual wear. The finest knitted garments that give style and comfort are what is claimed by the brand. Their products are made from the top yarns collected across the world and they use imported technology in each step of manufacturing Sirtex Eazy products. They promise they will never compromise on the quality of their products.

    Being a premium products brand in the Indian market, they focus on customer satisfaction. To attract customers from every age group, they focus on their marketing tactics. They have Shahid Kapoor as the brand ambassador for their premium innerwear products.

    Tommy Hilfiger

    Tommy Hilfiger - Brands Endorsed By Shahid Kapoor
    Tommy Hilfiger – Brands Endorsed By Shahid Kapoor

    Shahid Kapoor was roped as the brand ambassador of the stylish watch brand Tommy Hilfiger in 2019. Tommy Hilfiger is an American brand of fashion accessories as well as clothing. Their watches are a symbol of luxury and elegance. They have watches for both men and women as well as designs from ethnic to modern.

    Tommy Hilfiger watches are a pure resemblance of style and class. They have chosen Shahid Kapoor to endorse their classy range of Tommy Hilfiger watches.


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    Reebok

    Reebok - Brands Endorsed By Shahid Kapoor
    Reebok – Brands Endorsed By Shahid Kapoor

    Reebok is an International sportswear giant. They have chosen Shahid Kapoor to be the brand ambassador of Reebok India. Shahid was so happy to be their brand ambassador as he said both their synergies match and both endorse the need to be physically, mentally, and socially fit.

    Shahid believes that fitness is a lifelong commitment to oneself and their body. His commitment to fitness is appreciated as unmatched and inspirational by Silvia Tallon, Senior Marketing Director of Reebok India.

    FAQs

    What are the brands endorsed by Shahid Kapoor?

    List of Brands Endorsed By Shahid Kapoor are:

    • Colgate
    • Dulux Paint
    • Brut
    • U&I
    • Aramusk
    • Sirtex Eazy
    • Tommy Hilfiger
    • Reebok

    What is Shahid Kapoor net worth?

    Shahid Kapoor’s Net Worth is around $36 Million.

  • Scaling Indian Organic & Ayurvedic brands – Challenges & Solution

    This article has been contributed by Ms. Pooja Nagdev, Aromatherapist, Cosmetologist and Founder of INATUR.

    Ayurveda, India’s oldest medicinal system, has survived multiple waves of evolution over the previous 5000 years. Ayurveda is poised to become one of the most innovative healthcare growth markets in the world. Despite tremendous expansion in the nascent Ayurveda business, the industry still faces hurdles that must be overcome.  The issue of formulating natural or organic cosmetics is ensuring stability, safety, and efficacy. On the other hand, there is no harmonization of the regulatory guidelines. Many natural ingredients can be found in cosmetics that have a biological function. In the market for cosmetic goods with a longer shelf life, the usage of plants and herbs is on the rise. As a result, uniform standards for organic cosmetics and the standardization of raw materials are required.

    The following are some of the industry’s biggest challenges:

    1. Standardization

    Validation of Ayurvedic concepts (using modern norms) will make Ayurveda more acceptable to society, allowing it to become a mainstream life science. Ayurveda is facing a dilemma in terms of branding and consistency, as well as a diverse range of big and small merchants at the regional and national levels. Standardization and quality control are required to bring Ayurveda to a global audience.

    2. Lack of awareness

    Ayurveda has a large business potential worldwide, but it has yet to be fully realized. There appears to be a mismatch between the rate of increase of demand for services and the rate of expansion of supply. The availability of high-quality pharmaceuticals and a lack of basic infrastructure are limiting Ayurveda’s growing potential. There is a pressing need to properly advertise Ayurvedic products. Additionally, there is a need to raise knowledge about ayurvedic products and services. As a result, establishing awareness of the differences between Ayurvedic, organic, and natural products and services is a problem for participants.


    Also Read: List of the Top Ayurvedic Brands in India | 2021 Updated


    3. Procurement of raw materials

    The procurement and development of raw materials must be improved to ensure that the quality and core methods of Ayurveda are not compromised. Pesticides, herbicides, and insecticides are frequently seen as easy measures to boost productivity, therefore farming techniques have radically departed from age-old traditional methods.

    4. Use of Technology

    In the present period of medical Ayurvedic practice, technology is playing a big part, and it’s opening a lot of doors for avoiding overtreatment. It has improved the speed with which diagnoses are made and the effectiveness of treatment techniques. The lack of or sluggish adoption of technology may be a difficulty for Ayurveda, but it may also be a strength: using technology, products and services can be made more widely available and accessible.

    Organic Cosmetics are often mixed with natural.  All Organic cosmetics and wellness products are Natural, but all Natural products are not Organic. Aloe Vera gel, cucumber extract, honey, lemon oil, and other natural ingredients that manufactured in an organic way, that is no chemical treatment is done to the natural plant in the process of extraction of the ingredient. are utilized in organic cosmetics. Organic cosmetics primarily consist of organic skincare products, hair care, lip care, eye care, organic soaps, perfumes, and oils.


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    Organic cosmetic products require strict quality control to ensure their efficacy and safety. Quality control refers to the procedures that are used to ensure that a manufactured product’s quality and validity are maintained. Microscopic examination, assessment of ash, heavy metals, foreign materials, and micro-biological contamination are all included in the evaluation of organic cosmetics.

    Organic cosmetics are superior to synthetic cosmetics in both cosmetic and therapeutic applications. Organic cosmetics are those that contain a variety of organic ingredients and extracts. Organic cosmetics are unique in that they are composed entirely of herbs and plants. Natural and Ayurvedic cosmetics are other terms sometimes used for Organic cosmetics.

    Natural beauty care products have been around since men first started using cosmetics. Creams, face packs, and scrubs, hair oils, hair colours, shampoos, hair conditioners, lipsticks, blush on, rouge, eyeliners, mascaras, foundations, eyeshadow, fragrances, scents, cleansers, and so on are some common beauty products. By using specific definition approaches, the detailing of all these restorative things integrates an expansion of distinct regular additional substances such as oils, waxes, natural hues, common smells, and plant parts such as leaves, blossoms, and so on.

    Consumers are increasingly looking for products that have a lower environmental impact. Cosmetics are now with more “environmentally friendly ingredients and packaging.” There are tests conducted to check the effectiveness and toxicology of raw material and packaging material tough the criteria and requirements to be met for items to be classified as natural or organic should be issued by regulatory authorities. These guidelines are intended to define the packaging processes that are permitted, as well as to suggest sustainable extraction and processing methods.

  • How to Interview a Freelance Content Writer? | Tips for Hiring Freelance Writers

    Writing content for more than 1000 words doesn’t provide the relevant information, what the people are seeking from the content. Content marketing has been popular in the field of marketing a product, becoming a source of income for many companies.

    As it is stated, Information is wealth, for instance, you are looking for a nice ambience restaurant to have dinner and the primary thing you do is search ‘A good restaurant nearby me’ on Google right? out of incalculable content, the web search manifests you the highly reliable content on the information you are seeking for.

    Moreover, the content must be descriptive without false information. Therefore professional writing (Freelance writer) is as right as rain to any content that can reach a high ranking on Google as well as gets a point in achieving the attention of people.

    Notable content writers or freelance writers are the creators of a powerful link between brands and targeted people as freelance writers are the pillar in building brand awareness with their impactive content.  

    Well, how do you choose the right freelance writer for your company? There are different types of freelance writers such as Blog writers, Brand journalists, Copywriters, Technical writers, Scriptwriters and Ghostwriters, who are mastered in their own field of writing styles.

    But, how do you know if the chosen candidate will bring profit to the brand with the help of his/her content? Will he/she compete to write and be efficient in capturing targeted audiences with the writing? Will the selected candidate match all the qualities you have been looking for? Well, all these questions will be answered when you are interviewing a freelancer.

    How to Interview a Freelance Writer
    Questions to Ask to a Freelance Writer
    Tips for Interviewer Before Hiring a Freelance Writer
    Tips for Freelance Writers before going for an Interview
    Qualifications Needed for a Freelance Writer
    FAQ

    How to Interview a Freelance Writer

    Interviewing any candidate as well as a freelance writer follows a similar pattern, whereby prepping questions that the interviewer gonna ask and review the background to have a further conversation.

    As in the case of interviewing freelance writers, start the interview with an appreciation note, like lauding their talents for making the content more ingenious and instructive ways in order to connect the targeted customers.

    As I said before, reviewing the writer’s past experiences with their clients, command of the language, background and tone of writing the given topic highly depends on the person’s portfolio, and that should be critique ere the interview so that the interviewer get some ideas while having a conversation with the freelance writer.

    After greeting each other, proceed with small pep talk like ‘What are your hobbies apart from writing?’, ‘What do you find interesting about writing?’ and ‘How do you enthral and cogent people with your writing skills, is there any particular talent to do so?’ Note: Always conduct the interview in a convenient ambience to make the freelance writer comfortable as well as communicate in a friendly manner.

    Secondly, identify the freelance writer’s behaviour during the interview, as this would aid you to check the person’s mentality in taking the task. Most importantly, check the freelance writer’s grammar, give them a topic to write at the spur-of-the-moment, analyze whether they are articulate in expressing the given information into high-quality content.

    Last, but not least, see to their tone of language, where you find that person is either glib or eloquent.

    Questions to Ask to a Freelance Writer

    After having a general talk, move on to the questions you have planned to ask the freelance writer, notably, the questions should be professional and not personal.

    These questions might help you in interviewing a freelance writer:

    1. What do you think are the integral parts of good content as a freelancer?
    2. How do you make sure your content is SEO Friendly?
    3. What do you need to know before you start writing content?
    4. How do you proofread?
    5. As, the content really helps a lot in the marketing, so how do you say that your writing will lead a hand in increasing sales?
    6. How do you conduct research on the target audiences and write content according to their preferences?
    7. How many times do you revise your content?
    8. From which source do you get the information regarding the content?
    9. How will you differentiate between good & bad content?

    Once you are done with the questions, then end the interview with a soft and hopeful note.


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    Tips for Interviewer Before Hiring a Freelance Writer

    Freelancer writers play a vital role in the improvement of a firm. So the company must appoint a promising Freelance writer. So fetching a skilled hireling depends on the qualities and excellence of the interviewer.

    A good interviewer must be a good listener and should be heedful. Good listening quality will help to compute the person in the opposite. They must let the other person talk and explain things.

    He must be patient enough to listen to the other person’s conversation. The question they ask must be slightly tricky and observe how the person responds to it.

    The interviewer must be qualified to discern the capability of the interviewee. Every freelance writer has distinct virtues, the interviewer must be skilled to filter out the adequate one the company requires.

    Tips for Freelance Writers before going for an Interview

    In an interview, everything counts, like your way of communicating, your small gestures or how you handle things when they ask you a tricky question. An Interviewer notices everything you say or do. There are few things that you should do and not do during an interview. Here we are listing out the important ones.

    • Before you attend an interview do a small interview beforehand about the company and your client. Make sure that you meet all his prospects. Go through the description of the project you are attending.
    • Go prepared for all the likely questions the interviewer may ask. They may ask simple questions or tricky questions, it depends on the interviewer but don’t answer before giving a thought to it. Preparation is the basic factor for getting chosen in a consultation.
    • Be professional, try to develop an impression that you are apt for employment. Dress suitably, be sharp and don’t be tardy.
    • Be confident in what you are saying. The interviewer must also have performed a small research about you. So if they have called you for an interview then it means they must have seen something in you. Remember your goal and be confident that you can achieve it.
    • Be honest to them about what you can and can’t. Don’t over-praise yourself. And in case they inquire about your prior client or projects, don’t imply that you had an unpleasant association, instead, indicate that you respected them.

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    Qualification Needed for a Freelance Writer

    For becoming a freelance writer you don’t need a formal degree, some prospects may expect a bachelor’s degree. If you are interested in completing a degree then you can take English, journalism, or communications.

    Having a degree helps you to produce nice integrity work. If you don’t possess a grade then you can do an online writing program.

    The significant mastery the canvasser may aspire is writing, ideation, typing skills, endurance, basic computer understanding, and dealing capacities. You don’t have to be a well-experienced person and it nearly depends on the case’s demand. You can serve some online content writing courses to get a vital idea.

    Conclusion

    If a company wants to peddle their content then first should understand what the people seek and how they prefer it. People always crave something new, even in content, they filter out and choose a company that captures their interest.

    People don’t pay too much time going over an entire clause, so the phrases used must be short, detailed, unique and delightful. So a firm must decide on a freelance writer who can forge content that meets the company and also the people’s requests.


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    FAQ

    Can you become a freelance writer with no experience?

    Yes, anyone can become a freelance writer if you have the right skills for the job.

    What is SEO in content writing?

    SEO is the process of optimizing website content for search engines like Google.

    What does a freelance writer do?

    A freelance writer is an independent creator whose job is to write content for various publications and channels, such as websites, press releases.

  • Top 6 Tools to Effectively Manage your Team of Freelancers

    With time, businesses have changed their outlook while hiring people. Nowadays companies are taking interest in freelancers apart from permanent employees. During the pandemic era, when people were left jobless, they opted for the second-best option, Freelancing.

    In freelancing, one is not permanently hired by a company; here they work as an independent contractor for a particular project provided by the company. Somehow, the second-best option has now turned into the best option for most of them. Businesses took this opportunity and started turning it into their favor by hiring freelancers for most of the work.

    Now, the benefits of this new kind of employment have attracted a world. In the point of view of a business, they are getting their work done by a person who specializes in the preferred domain and in a much lesser price. The pay-per-project factor is what encourages the businesses as well.

    When you hire freelancers, managing them can be a little difficult, as they work from remote places and face-to-face meeting them is not possible.

    Therefore, while managing the team, some tools are needed to ensure hassle-free and smooth work. This article will talk about the tools that have taken upon themselves in managing freelancers but before that let’s talk about the challenges that are faced during the management of freelancers.

    “We shape our tools and, thereafter, our tools shape us.”

    — John Culkin

    Challenges Faced While Managing Freelancers
    Tools That Helps In Managing Freelancers
    FAQ

    Challenges Faced While Managing Freelancers

    There exist numerous benefits of working with freelancers, but the obstacles are there as well. Some of the most common of them are:

    Communication

    Communication is a big factor; a project’s success huge depends on the communication process between the client and the freelancer. Sometimes miscommunication while video conferencing or non-verbal ways can lead to a severe conclusion. Tools like Google Docs can be a little trickier while using, to provide detail of the project to the freelancer.

    Time Management

    Time Management is another issue, if deadlines are not met by the workers, it can rig the entire working system which can even lead to the cancellation of the project.

    Management of the project

    Management of the project can be a little tricky; the employer needs to be cautious. They need to update the freelancers if there are any changes in the project and cater to the needs of the freelancers as soon as possible so that they can deliver the best result possible.

    Managing the independent contractors

    Managing the independent contractors can also be an issue, if that person is not giving their best or creating problems for the required project, it may cause a hindrance for the company.

    Tools to Manage Freelancers

    These entire problems can be resolved if one just uses the tools then the collaboration between the client and the freelancer can be a success. All the below tools help in managing the freelances as if they are working on-site instead of remote.

    Trello

    Trello Website
    Trello Website

    This tool helps the client in tracking the progress of the work done by the freelancer. The tools help in organizing all the work in a single board that shows who is working on what and what the progress of that work is. It is called a visual collaboration tool, where comments can be given, attachments can be uploaded that are needed for the project.

    Apart from that, due dates can also be assigned. The projects details are visible to those people who are invited by the employer, so leaking sensitive information can be avoided.

    Trello Pricing

    Trello Pricing
    Trello Pricing

    Alternative Apps- Asana, Wrike, ClickUp, Jira

    Slack

    Slack Website
    Slack Website

    Communication is important in any kind of job, it wouldn’t be wrong to say that it is the key to managing the freelancers as well. Communicating through email, text messages can take a lot of time and may result in delayed work.

    So, Slack here solves that problem. It is an all-in-one communication app; it allows text messages, voice calling, and video calling as well. Through this, communication becomes easier between freelance employers and the independent project workers.

    Slack Pricing

    Slack Pricing
    Slack Pricing

    Alternative Apps- RocketChat, Discord, Mattermost, Flock, Ryver, Microsoft Teams, Google Chat


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    ResourceGuru

    ResourceGuru Website
    ResourceGuru Website

    People are mostly interested to work as a freelancer because it provides the flexibility of time. One can work when one wants to. Sometimes this can create a struggle for the employer to keep the workers on time.

    ResourceGuru makes the job of employer a lot easier; it provides the employer with the availability list of the freelancers. They provide calendar features and helps in scheduling the work of the freelancers according to their time eliminating the struggle of time-consuming.

    ResourceGuru Pricing

    ResourceGuru Pricing
    ResourceGuru Pricing

    Alternative Apps- Tempus Resource, Mavenlink, Forecast, Journyx, LiquidPlanner

    15Five

    15five Website
    15five Website

    The dispute often arises, when queries are not solved through proper communication. Feedback from the workers is needed for the betterment of the project.

    15Five is an app that helps in getting feedback from employees. This also provides the company to answer the queries that arise in the feedback provided by the employees. Therefore, it solves any issues that can create a problem because of not communicating properly, for the project.

    15five Pricing

    15five Pricing
    15five Pricing

    Alternative Apps- Leapsome, Betterworks, Kazoo, Kudos, Motivosity, Culture Amp


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    Dropbox

    Dropbox Website
    Dropbox Website

    Sharing files with freelancers can be an issue if the file is big and there isn’t enough space. Thanks to Dropbox, this problem can easily be solved as it provides enough space and can help in sharing the files with the employees.

    The best thing is, employees can only get access to the files that employers provide them with. The employees also have the option to share large files.

    Dropbox Pricing

    Dropbox Pricing
    Dropbox Pricing

    Alternative Apps- Google Drive, OneDrive, pCloud, Tresorit, NextCloud, SpideOak

    TechSmith Capture (Foremerly Jing)

    TechSmith Capture Website
    TechSmith Capture Website

    Although freelancers are hired because they excel in their domain, there are some things that need to be taught to the employees before they begin with their work. While training freelancers is not easy as they work from remote areas.

    TechSmith Capture makes this work a lot easier by allowing the employers to create training videos of how the tasks should be done, for the employees. Whenever a new freelancer joined the company, the employer can just share the video that can train them.

    Alternative App- ShareX, Greenshot, LightShot, SimpleScreenRecorder, FastStone Capture


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    Conclusion

    With more and more people turning to freelancers for employment, it has become a great market for businesses to choose from. The tool just helps the businesses to collaborate with the freelancers properly that will in return provide the business with top-notch services.

    FAQ

    What is a Freelancer Job?

    A freelancer’s job is of an independent contractor instead of a permanent employee in a company that paid them on a per-task basis.

    Which Skill is Best For Freelancing?

    Social Media Management, Data Entry, Web Designing, Graphic Designing, Accounting, Content Writing are some of the top skills for freelancing.

    What are some of the tools you can use to manage freelancers?

    Trello, Dropbox, 15five and ResourceGuru are some of the top tools you can use to manage freelancers.

  • Paxcom: Digital Solution provider for analytics & eCommerce business strategy

    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 Paxcom.

    Paxcom’s technology solution consists of ML/AI-powered actionable insights on Product Content, On-Shelf Availability, Reviews & Rating analysis, Share of search, Sales, and Promotions. Daily, Paxcom analyzes multi-crore ad spends, and over 1.4 lakh products across 148 platforms, 450+ pin codes, and 11 languages to provide seller and location-specific insights to aid their clients’ eCommerce growth.

    StartupTalky interviewed Mr. Punit Sindhwani (Founder & CEO, Paxcom) to get insights into the startup story and the organization’s roadmap. In this article you will discover how Pacom started, its business model, marketing strategies, and more.

    Paxcom – Company Highlights

    Startup Name Paxcom
    CEO Punit Sindhwani
    Headquarters Gurgaon
    Industry Ecommerce
    Website paxcom.ai

    Paxcom – About
    Paxcom – Industry Details
    Paxcom – Idea & Inspiration
    Paxcom – Product/Services and USP
    Paxcom – Founders and Team
    Paxcom – Name Meaning & Logo
    Paxcom – Business Model and Revenue Model
    Paxcom – Launch & Marketing Strategies
    Paxcom – Challenges Faced
    Paxcom – Operating Locations
    Paxcom – Funding
    Paxcom – Tools used to run startup
    Paxcom – Future Plans
    Paxcom – FAQs

    Paxcom – About

    Paxcom’s eCommerce solutions consist of a robust set of proprietary (or cutting edge or ML/AI) technology solutions backed up by a strong suite of eCommerce services that provide end-to-end assistance for businesses looking to expand their online presence. This startup is well-known for its digital solutions that cover all aspects of day-to-day eCommerce operations and assist brands and sellers in improving their overall online performance.

    Paxcom’s cutting-edge AI solutions can collect and analyze data from all eCommerce channels, across multiple geographies to deliver actionable insights for improving digital shelf share, stock availability, competitive pricing, product discoverability, ROIs on marketing spends, placements, and more.

    Its team of eCommerce experts, Data Scientists, Analysts, Content Writers, and Creative Designers can help you launch and optimize Products Price, Promotion, Placement, and growth strategies on the popular eCommerce Sites. Paxcom’s team of experts comes with vast experience across brands, markets, and platforms to ensure that your brand has all the tools to remain ahead of the curve. Paxcom takes pride in working as a partner and an extension of its clients’ own teams to ensure synchronized plans to success.

    Paxcom – Industry Details

    The recent years have seen substantial growth in D2C and digital brands in India, with over 4000 brands having crossed INR 1cr sales on Amazon alone in 2020. While physical formats of retail have been seeing a marked slow-down due to Covid restrictions, eCommerce is growing at the fastest pace. This has led to an increased focus of brands on eCommerce.


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    Paxcom – Idea & Inspiration

    Paxcom’s founding team took its plunge into eCommerce in 2011 through an ambitious foray into omnichannel retail, before amazon.in the marketplace was launched in India. The in-house omnichannel technology that was built, empowered them for seamless growth across their D2C website, 11 physical locations and to be the pioneer in D2C and marketplaces in India. Mirchimart was one of the first few sellers that Amazon onboarded when they started their business in India. They also won the award for being the largest seller in the electronics category on the Flipkart marketplace in 2014.

    This early exposure to e-commerce enabled the founders to recognize the sector’s potential in India. Consumer brands were taking their first steps in this direction, but there was a significant gap in understanding of how it worked and how to best use it. There was a need for expert advice and technical solutions to assist brands in accelerating digital sales and making intelligent, data-driven decisions. Paxcom was created to meet this need.

    Kinator, a SaaS-based channel intelligence and data analytics platform, was the first solution developed, allowing their clients to track, measure, and audit their eCommerce presence, and provide insights for day-to-day and strategic decisions.

    Over the last seven years, they have continued to evolve and grow alongside their clients’ ever-changing needs, becoming a full-service strategic solution provider for e-commerce, adding numerous services and software along the way.

    In 2019, Paxcom became a part of the Paymentus group – a leading global paperless electronic billing and payment solution, ranked by Deloitte to be amongst the fastest-growing North American companies.

    The idea came from the opportunity and the gaps the team saw in omnichannel retail as they managed their omnichannel retail business. The initial product idea was well received in their outbound campaign reach and few initial brands became Paxcom’s partners in this journey giving the team an opportunity to learn and mature their offerings.  

    Paxcom – Product/Services and USP

    Paxcom offerings simplify Brand’s online strategy and growth by providing actionable insights derived from mining vast amounts of data points daily, across multiple e-marketplaces and multiple geographies. Brands can quickly see areas of growth opportunities, threats from competitive/upcoming brands and get insights on the effectiveness of different campaigns /products on marketplaces.

    In the fiercely competitive eCommerce space, brands need to be agile and well-informed to achieve success. Paxcom’s eCommerce solutions consist of a robust set of proprietary technology solutions backed up by an experienced services staff to provide end-to-end assistance for businesses looking to expand their online presence. It is well-known for its digital solutions that cover all aspects of day-to-day eCommerce operations. Paxcom’s analytical software tools and expert customer service teams assist brands and sellers in improving the overall online performance. Paxcom’s mission is to simplify and streamline online selling for brands and sellers.

    Paxcom’s USP is a robust suite of technology solutions backed by an experienced team obsessed with a data-driven approach to eCommerce growth for its customers. Its technology solution consists of ML/AI-powered actionable insights on Product Content, On-Shelf Availability, Reviews & Rating analysis, Share of search, Sales, and Promotions. The startup’s Omni-channel technology solution optimizes the supply chain for order-fulfillment and warehouse management while its eCart Solution helps establish eBrand Store and apps. Paxcom team comes with a wealth of experience in establishing omnichannel strategy and solutions have gained valuable insights in managing their own, and some of the large brands, eCommerce growth since 2011.

    1. Channel Intelligence & Analytics – Kinator

    Kinator – Paxcom’s proprietary technology solution can collect and analyze publicly available data from all major platforms, across multiple geographies to deliver Data-Driven Analytics & Insights for Brands selling on multiple e-retailers and marketplaces. Paxcom’s interactive KPI Dashboards & Reports enable data-led decision making on Product Pricing, Promotions, Placement, and more. Kinator helps brands track, measure, audit, and analyze their

    • On-shelf Availability
    • Price, promotions, and Buy Box
    • Ecommerce content
    • Reviews & Ratings
    • Visibility on search results and category
    • Sales across platforms
    • Advertising performance

    2. Services, Strategy & Execution

    Paxcom’s team of eCommerce experts, Data Scientists, Analysts, Content Writers, and Creative Designers can help you launch/optimize Products Price, Promotions, Placement on the popular eCommerce Sites.

    Paxcom’s team of experts comes with vast experience across brands, markets, and platforms to ensure that your brand has all the tools to remain ahead of the curve. The startup takes pride in working as a partner and an extension of its clients’ own teams to ensure synchronized plans to success.​​

    • Ecommerce content and design
    • Business Analytics And Consultation
    • Promotions & Marketing Strategy across platforms
    • Global Support (India, North America, UAE, Africa & Southeast Asia)

    3. AMS & Campaign Management

    Paxcom’s eCommerce experts provide end-to-end campaign management in sync with your Brands goals and objectives across eCommerce platforms. When there are millions of products to choose from, a brand cannot afford to sit back and expect a customer to reach its product. Instead, the product needs to reach its customer. The startup manages multi-million spending across different platforms and categories, for leading or upcoming brands, using objective-based tailored strategies.

    • Ecommerce Campaign & Ams Management
    • Technology Aided Campaign Management using Paxcom’s cutting-edge tools
    • Promotions Management
    • Search & Display Ads

    4. Omnichannel Solutions

    Get complete control over your e-commerce logistics and fulfillment. Businesses of all sizes & categories can harness the power of Paxcom’s innovative pre- and post-fulfillment solutions to make their listing, order processing, warehousing, and shipping process seamless, quick, and manageable. Easy connections across several channels, a consistent experience for customers and employees, and automated technologies will help you accelerate with control. Its Omnichannel offerings comprise multiple robust web applications that provide solutions that can help brands grow, and manage their backend operations flawlessly with ease.

    • Product Information & cataloging system (PIM)
    • Order & Inventory Management Software (OMS)
    • Warehouse Management Software (WMS)
    • Marketplace seller solutions

    Paxcom’s USP and innovation

    • Strong experience across platforms and categories
    • Cross geography/industry best practice
    • Strong Technical Solutions + Services work together to give a complete solution
    • Flexibility to tailor software as well as services to your specific requirements
    • Global Support – Multiple language tracking & content Learnings across brands & categories

    Pivot from Initial Idea

    Paxcom was initially building 2 products – a Product Information Management software and software for sellers to manage their orders and inventory on multiple marketplaces. These two were built initially for Mirchimart for their own use and the team thought of taking these to market. These products, gradually they realized, had significant competition and challenges of stability since marketplaces, to date, don’t offer seamless APIs. Paxcom’s core product, Kinator, came after a couple of exploratory meetings with some big FMCG brands. This was a unique problem, no players in India at that time gave information to Brands on what is happening to their products and their category on eCommerce platforms. Since eCommerce was so new and growing massively, brands wanted to have some key KPIs to measure ecom growth. The team decided to plugin that gap, and Kinator came to life.


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    Paxcom – Founders and Team

    Paxcom’s founding team was together over years at their previous company, Mirchimart, and Paxcel and had a strong working relationship. So this came in very easily.

    The team works closely together and quite often the tasks span across different areas. In the current setup, Neha Khosla is responsible for client success, Tanya Kakaria for Global Sales Marketing, Punit Sindhwani for overall strategy, and Gurjant Singh for technology solutions.

    A dynamic powerhouse, Punit Sindhwani has over 25+years of experience in the Technology and IT industry. Punit is currently the CEO of Paxcom, a SaaS-based software that provides complete eCommerce automation solutions from creating and managing e-stores (or marketplaces) to advanced data analysis, exponential revenue growth, managed warehouses, and supply chains along with ensuring happy customers.

    Paxcom CEO
    Punit Sindhwani – Founder & CEO of Paxcom

    He is a strategic leader with a proven track record in managing fast-growing software development companies in Capital Markets, Payments, Health care, Data Analysis, and Data and Image Compression.

    Prior to founding Paxcom, he was Co-founder and CTO of Mirchimart.com, an online megastore where he was responsible for building a high-performance tech platform for B2C and B2B sales, with optimized PIM, WMS, OMS, and Omni-channel touchpoints.

    A bachelor in Electronics from Mumbai University, Punit’s area of expertise includes Enterprise Application Development, Mobile Application Development, Financial Software Development, Gift /Loyalty Solutions, Web application development, Data Analysis Software, Data and Image Compression.

    Prior to Paxcom, the founding team’s technology services company, Paxcel was born in 2001. Paxcel was named after a core value that they look for while hiring any new team member “Passion for Excellence”. Paxcom came as an extension to Paxcel, everything about eCommerce with Passion for Excellence, so this was a unanimous decision of the founding team, Paxcom. The name, Pax part symbolizes the founders’ Passion for Excellence, while the com part symbolizes Commerce. The logo was designed internally by the startup’s creative team.

    Paxcom
    Paxcom Logo

    Paxcom – Business Model and Revenue Model

    There are two parts to Paxcom’s business model. All technological solutions are produced and marketed as SaaS solutions, while the services arm operates on an agency model. It typically has annual retainers and subscriptions with its clients, and the startup tailors the engagement to their specific needs and gaps. Shorter project-based engagements, on the other hand, are also possible.

    Paxcom – Launch & Marketing Strategies

    The founding team launched the company because they first saw the complexities of managing an eCommerce business across multiple channels and the scale and efficiency needed.  The push was motivated enough to take the plunge.

    They were fortunate to be amongst the first ones to offer such insights for eCommerce growth, and as such, they found a great response to their email campaign reach on Paxcom’s innovative solutions.

    “At Paxcom, we believe that a satisfied customer is the best marketer a company can have. The focus on client satisfaction has contributed significantly to our success, and we’ve seen a lot of initial growth organically through referrals and expanding partnerships with existing clients across industries and regions”  – says Punit Sindhwani, CEO, Paxcom

    Paxcom’s marketing and business leaders have invested a significant amount of time and effort in developing strong industry relationships and gaining a thorough understanding of the segments in which they operate. This has allowed them to take a consultative approach to business development, based on extensive knowledge of the ever-changing e-commerce landscape, best practices, industry trends, clients’ businesses, their current eCommerce maturity, possible growth areas, and potential solutions. Every client is different and having targeted outreach campaigns based on this understanding have worked well for Paxcom. It has also recently begun to broaden the use of content marketing by widely disseminating Paxcom’s large repository of useful resources for brands, sellers, and industry enthusiasts at all stages of e-commerce maturity. These are accessible via its website and social media pages.

    Paxcom has established a strong presence and goodwill within the Indian eCommerce industry over the years, helping it solidify its position as an authority on eCommerce. Numerous leading brands it serves and its commitment to providing strong solutions for the clients globally have also helped the startup establish credibility as an eCommerce partner. The majority of its new business, therefore, comes from word of mouth, client referrals, eCommerce platform recommendations, and SEO.

    Additionally, the team at Paxcom is also been working on producing content that serves the industry by offering in-depth information and advice for clients and the broader brands in the market.


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    Paxcom – Challenges Faced

    Paxcom was started when eCommerce in India was in its nascent stage, and grown with the industry. The initial inertia of brands to recognize their potential, and the ever-changing ecom environment have been some challenges. However, the team has had the opportunity of working with some great brands and built strong goodwill for themselves by constantly adapting to ensure they go above and beyond their client’s expectations. This has helped Paxcom grow to its current strength and recognition in the industry.

    Paxcom – Operating Locations

    Out of the 6 office locations 3 are located in India, 2 in the US, and 1 in Canada.

    1. Gurgaon
    2. Delhi
    3. Mohali
    4. Washington
    5. North Carolina
    6. Toronto, Canada

    Paxcom’s services are already available in 20 countries across SEA, Japan, Korea, the Middle East, Africa, the UK, North America, Australia, and India.

    Paxcom – Funding

    Paxcom is a bootstrapped startup and currently, it is not looking to raise funds in the near future.  


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    Paxcom – Tools used to run startup

    Being a tech-focused company at heart, the team understands the value of tools in improving efficiency. There are numerous tools Paxcom utilizes to ensure that the team can function at scale effortlessly. Some of these are Slack, Keka, Google Business tools, Zoho, Hubspot, and Drutas.

    Paxcom – Future Plans

    In addition to expanding within the country, Paxcom is aggressively growing its global presence. Its current clients include over 150 brands, across 20 countries, and it is in the process of growing not just the client base, but also the engagement with existing clients.

    At the moment, Paxcom’s SaaS-based data analytics tools are the top focus, with eCommerce advertising & strategy services following closely behind. Looking ahead, the startup also expects its revenue to triple within the next two years, with the primary chunk of that growth coming from North American and Asian markets.

    Paxcom – FAQs

    What is Paxcom?

    Paxcom’s eCommerce solutions consist of a robust set of proprietary (or cutting edge or ML/AI) technology solutions backed up by a strong suite of eCommerce services that provide end-to-end assistance for businesses looking to expand their online presence.

    Who is the CEO of Paxcom?

    Punit Sindhwani is the CEO of Paxcom. He has over 25+years of experience in the Technology and IT industry.

    How does Paxcom make money?

    Paxcom’s technological solutions are produced and marketed as SaaS solutions, while the services arm operates on an agency model. It typically has annual retainers and subscriptions with its clients.

    Is Paxcom funded?

    No. Paxcom is currently bootstrapped.

    What is the Paymentus group?

    In 2019, Paxcom became a part of the Paymentus group – a leading global paperless electronic billing and payment solution, ranked by Deloitte to be amongst the fastest-growing North American companies.

  • Startup Mistakes to Avoid & Learning from SleepyCat’s Founder Kabir Siddiq

    This article is contributed by Kabir Siddiq (Founder & CEO of SleepyCat). SleepyCat is India’s Premium D2C sleep solutions brand.

    Right after college, I (Kabir Siddiq) was looking to pursue a career in Finance and Banking. I found myself following the crowd. During the initial phase, I worked with Deutsche Bank in the Investment Banking division. Though I thoroughly enjoyed my time there, I always had the desire to do something more. I was keen on pursuing the Entrepreneurial route and building something meaningful. I didn’t want to stick to a traditional job role throughout my life. I really wanted to create, Innovate and develop something of my own. The idea always excited me.

    The Journey of SleepyCat began when I entered the old and unchanged mattress Industry. I realized a big gap existed in the market between manufacturing a mattress and eventually delivering it to a consumer. This long chain; mostly distribution, logistics, warehousing, and retail, severely inflated the price of a mattress without reason. In addition, the quality and structure of a mattress being sold at a price like that were nowhere close to being comparable or justified! To top it all, mattress shopping was troublesome with so many unnecessary choices. We wanted to simplify this and make the process of mattress shopping fun and easy while delivering a world-class product through just four simple clicks! Four years later, we have achieved a great product that can be seen with our mattress being the highest rated in the country.

    The journey from then to now has been riddled with a path of making mistakes and learning. It’s all about constantly improving yourself, the product, and the team.

    Here are some of the things I learned during my Startup journey.

    Always have a plan

    While this may seem like one of the most basic pieces of advice, it is the most important to heed. Map out a business plan that outlines your objectives, costs, anticipate the results, and always work towards a goal you have to achieve. Goals help you align your focus towards success. Stay organized towards your goals.

    Here’s an Ultimate Guide to Writing a Business Plan.

    Don’t do everything yourself

    It’s great to be independent, but never at the cost of your business. Surround yourself with the right people who can consult and steer you in the right direction. This is highly important for aspects that require technical expertise which help scale your business operations.


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    Choose the right investors

    Once your product or service has seen steady growth in the market, select the right investors who will boost your business. Your first set of investors will make it or break it. Investors are more than financial support, they place their confidence in your business potential.

    Listen to your customer

    The customer may not always be right, but they’re ultimately the ones with the purchasing power. Always listen to their complaints, suggestions, and feedback. This leads to building credibility and trust among your customers, it also helps you understand the iterations required to create a product fit for your target market.


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    Never undervalue your products

    Today’s internet-savvy audience is well-read and researched. They’re looking for good quality, durable products. Create and price your products according to their needs. Choose the best quality raw materials, select the right pricing & value your products at a cost that is affordable.

    Also Read: Top 9 most common pricing strategies employed by business

    A successful startup is not built within a week, it takes months, sometimes years, of learning to reach the pinnacle. Hire the right set of people who help your startup grow, consult mentors you can lean on, and most of all accept your mistakes! Mistakes are inevitable, learn to adjust your expectations and move on from them. Never be afraid of failure, keep trying, and always innovate.