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  • Business Model of UpGrad | How does upGrad make money

    ‌‌The pandemic has shown us what digitization is capable of! Our education system has been highly affected by the pandemic. The whole education system has gone from desk to desktop. This has brought a positive factor as well.

    There have been tons of education-based applications launched to serve the students in an effective manner. India has entirely moved from the conventional classroom method to the virtual technical classroom. And a great asset to this has been the very prominent UpGrad, which provides higher education, digitally.

    UpGrad is a pretty fascinating application and a very successful education-based company. Through this article, we will discuss the business model of UpGrad in order to have a better understanding towards the Ed-tech companies. Moreover, we discuss how this Ed-tech company makes money and also, how it targets its audience. Let’s get started!

    About UpGrad
    Where does UpGrad operate?
    Key Services of UpGrad
    Target Audience of UpGrad
    UpGrad: Business Model
    What is Unique about the business model of UpGrad?
    How does UpGrad make money?
    FAQ

    About UpGrad

    ‌‌UpGrad is known as India’s largest company that provides higher education in many fields, founded in 2015. UpGrad offers higher education through various programs in Technology, Law, Data Science, and Management. There aren’t any specifications for the students. From students to professionals, anyone can sign up for these programs.

    The most fascinating thing about UpGrad is that it offers courses in collaboration with the top universities such as MICA, IIT Madras, Jindal Global Law School, Liverpool John Moores University, NMIMS Global Access, Duke CE, and many others.

    ‌‌UpGrad has built a very strong upholding in the Indian education system and it’s all set to achieve definite career success for everyone from the global working environment. UpGrad offers an 85% completion rate for programs, industry-relevant curriculum, placement support, result-based learning opportunities, and significant mentorship to its members.

    ‌‌On a global scale, UpGrad has over 40,000 paid active users right now along with an influence on over a million. In fact, UpGrad is the first-ever company to have a well-recognized PG Diploma in Data Science course from the National Association of Software and Services Companies (NASSCOM) and NOS.

    Moreover, UpGrad has been honored with the “Best Education Brands” award from the Economic Times in 2018.

    Where does UpGrad operate?

    ‌‌The co-founder of UpGrad, Phalgun Kompalli has done incredible work in the sector of higher education and learning through technology with his award-winning company, UpGrad. The company operates in many countries including India, Africa, the United States, Southeast Asia, and Brazil.

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    Key Services of UpGrad

    ‌‌UpGrad offers specific online courses and rewards the learners with a well-recognized certificate in many fields such as Machine Learning, Data Science, Digital Marketing, Software Development, product management, and many others.

    ‌‌Furthermore, it provides unique experiences to its customers through the contents developed by academia and industry experts. Also, effective mentorship and career support.

    Target Audience of UpGrad

    ‌‌UpGrad majorly targets people above the age of 22 or 23. Its targeting is quite similar to that of Simplilearn company. UpGrad focuses on the working people in the age group of 23-45, who are eager to learn and improve their skills through online channels.

    Business Model of upGrad

    ‌‌UpGrad runs on a pretty effective business model which holds a two-way approach between the students and the educators in order to form a bright future together. In other words, UpGrad acts as the bridge between the educational institutions and the candidates to gain the best knowledge and proficiency. The educational institutions offer their program courses in different subjects through the UpGrad app as well as the website at reasonable prices.

    ‌‌The candidates who are interested in the offered courses, register themselves on UpGrad by filling out the essential eligibility criteria fixed by the institution. After this, the candidate pays the given fees for the course. UpGrad offers two options for submitting the fees: complete fees at once or installment option.

    ‌‌Besides, UpGrad also employs professional guides who would enroll the professional candidates in their courses. This forms a two-way business approach that helps UpGrad in completing its ultimate goals and brings out a convenient way for companies to hire potential people. As we discussed the business model of UpGrad, let’s have a look at what’s unique about this business model.

    What is Unique about the business model of UpGrad?

    ‌‌The most unique thing about UpGrad’s business model is that it isn’t any other ed-tech company with educational videos and content. UpGrad is the leading platform that provides the expertise and experience of entrepreneurs as well as professionals. UpGrad offers tons of student-based services and always brings out remarkable results.

    ‌‌UpGrad is working towards more than 15 new courses that would be included in the programs and are all set to expand its locations globally.

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    How does UpGrad make money?

    ‌‌UpGrad offers programs at some very reasonable prices as it reflects their commitment towards the education of candidates. Around 50% of revenue is collected from the candidates after completing their program.

    ‌‌For the enterprise business deals, UpGrad receives money from the companies who send their employees for training to UpGrad.

    Conclusion

    ‌‌From this article, we got a better understanding of the working strategy of UpGrad. As we discussed the business model of UpGrad, we built the market perspective of the Ed-tech company.

    UpGrad carries a strong and effective business model and it is clearly reflected through its results and revenues. But most importantly, the company focuses on the education of its candidates and does not compromise anything for that.

    UpGrad follows an effective marketing strategy that always results in various beneficial deals.

    FAQ

    Who is the owner of upGrad?

    Ronnie Screwvala is the Co Founder and Chairman of upGrad.

    Is upGrad an Indian company?

    Yes, upGrad is an Indian higher education company founded by Ronnie Screwvala, Mayank Kumar, Phalgun Kompalli, and, Ravijot Chugh in 2015.

    What is the revenue of UpGrad?

    The revenue of upGrad in 2021 was INR 1200 crores.

  • Generic Aadhaar – India’s Fastest Growing Pharmaceutical Company

    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 Generic Aadhaar.

    As per statistics, about 60% of Indians cannot afford to buy their daily medicines. The reason behind this inability is the high cost of medicines which are absolutely unnecessary in the Indian pharmaceutical market. About 85-90% of the medicines in the market are generic variants which ideally should be available at pocket-friendly prices. However, people end up paying enormous amounts for these drugs as the manufacturer has made it a wholesale business. The irony of the matter is that generic medicines are supposed to be dirt cheap.

    Realizing the gravity of the situation, Generic Aadhaar has embarked on a mission to make generic medicines available to all Indians at an affordable price. It has disrupted the conventional pharma industry and is determined to empower single-store owners and pass on the benefit to the end customers.

    Generic Aadhaar – Company Highlights

    Company Name Generic Aadhaar
    Headquarters Mumbai
    Founder Arjun Deshpande
    Founded 2018
    Sector Pharmaceuticals
    Registered Entity Name Swasthya Lifescience Pvt Ltd.
    Website genericaadhaar.com

    Generic Aadhaar – About and How it Works
    Generic Aadhaar – Founder
    Generic Aadhaar – How It All Started?
    Generic Aadhaar – Name, Tagline, and Logo
    Generic Aadhaar – Vision and Mission
    Generic Aadhaar – Target Market Size
    Generic Aadhaar – Products and Services
    Generic Aadhaar – Business and Revenue Model
    Generic Aadhaar – Startup Launch
    Generic Aadhaar – Challenges
    Generic Aadhaar – Advisors and Mentors
    Generic Aadhaar – Achievements and Recognitions
    Generic Aadhaar – Future Plans
    Generic Aadhaar – FAQs

    Generic Aadhaar – About and How it Works

    The venture provides high-quality generic medicines from pharmaceutical manufacturers at cheap prices and increases the accessibility to these medicines all over India. Generic Aadhaar follows a unique pharmacy-aggregator, profit-sharing business model to source generic drugs directly from the manufacturers. The items are then given to the retail pharmacies, thereby eliminating the 16-20 percent wholesaler margin along with other layers of margins such as C&F agents in the trade.

    The most important differentiator in the case of Generic Aadhaar is the fact that the inventory-carrying cost is very low when compared to stores that stock branded drugs. Since the stores are minimally designed, the overall cost of maintaining the business for franchises is also low. In addition, Generic Aadhaar helps small pharmacies earn double the profits and allows them to stay relevant in the market through the affordable medicines it provides.

    An Interview with Arjun Deshpande | Founder of Generic Aadhaar

    Generic Aadhaar ensures that the franchise is taken by an FDA licensed retailer. The retailer should be a pharmacist; if not, he or she should appoint one before the franchisee is taken. The Generic Aadhaar team helps with branding and provides IT support and medicines to the outlet.

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    Generic Aadhaar – Founder

    Arjun Deshpande founded Generic Aadhaar.

    Generic Aadhaar | Founder | Arjun Deshpande
    Generic Aadhaar | Founder | Arjun Deshpande

    Started with a sole mission of making medicines available to every Indian, a 16-year-old set his eyes on the pharma industry in 2018. At this novel age, Mr. Arjun Deshpande, one of India’s youngest and most dynamic entrepreneurs founded this innovative venture, Generic Aadhaar.

    Generic Aadhaar – How It All Started?

    Arjun’s mother work in the pharma space. When he was around 14 years old, he had visited various pharmaceuticals companies and plants along with his mother and that’s when he understood that generic medicines are sold in the market at the same price as the branded ones.  He noticed that the various countries he visited, import generic medicines from India and make them available to the masses at affordable rates. He wondered, “Why is this not the case in India when we are the manufacturing hub for pharmaceuticals?”

    It stroked him and gave rise to the vision of creating a brand identity through ‘Generic Aadhaar’ outlets. He found that the extra cost for generic medicines could be reduced. What does he do then? He tied up with WHO and GMP-certified pharmaceuticals and directly started providing his franchise’s pharmacist with the medicines that are produced in WHO GMP-certified pharmaceuticals companies. This helped to reduce the cost of medicines by nearly 80%. Arjun, inspired by Ratan Tata, wanted to serve the nation through his generic medicines initiative.

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    Generic Aadhaar, the name says it all; it will give aadhaar to the customers on their medical bills on every purchase of Generic medicines. As a pharmaceutical company, Generic Aadhaar went for a white and green color combination. This combination is symbolic of the healthcare segment.

    Generic Aadhaar Logo
    Generic Aadhaar Logo

    The tagline of Generic Aadhaar is “Dawaiyan Kifaiti Daarome Lejayiye Aapne Gharome” which means that their company revolves around access to affordable medicines.

    Generic Aadhaar – Vision and Mission

    Vision: Generic Aadhaar is a pharmaceutical company with an aim to bring all small medical stores under one roof and help them to earn huge profit margins. It will support you to compete with big retail medical outlets giants and online pharmacies and help the citizens to avail good discounts on all medicines through generic aadhaar stores.

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    Generic Aadhaar holds a long-term vision of assisting the underprivileged sections for the betterment of India.

    Mission: To serve customers by giving affordable quality healthcare medicines. To pull out all the stops to ensure no Indian is barred from the availability of generic medicines. The company is determined to empower single-store owners and pass on the benefit to the end customer.

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    Generic Aadhaar – Target Market Size

    India is a massive hub for medicinal drug intake and consumption. To cater to the underprivileged people who cannot afford high branded medicines, the Mumbai- based Generic Aadhaar is planning to expand its pan-India reach by opening more than 800 plus retail outlets across India. The company is currently operating 45 outlets in cities like Mumbai and Pune.

    The pharmaceutical entity wants to touch every corner of India in the next five to seven years. It is getting calls from all parts of India for extending its franchise outlets. Generic Aadhaar is also working on an initiative called “Entrepreneurs Under One Umbrella.” Under the Generic Aadhaar umbrella, they provide quality medicines from reputed pharma companies by offering up to 80% lesser prices. It provides the biggest portfolio of Generic medicines from government-approved quality manufacturing facilities.

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    Generic Aadhaar – Products and Services

    Generic Aadhaar provides affordable generic medicines (particularly for the underprivileged class of India) through its outlets that are present across the nation. The medicines sold by the company cover all types of ailments like minor diseases or life-threatening illnesses. The USP of the company is the pharmacy-aggregator business model wherein it sources generic drugs directly from the manufacturer and hands them over to the drug retailer who delivers medicines to the masses at cheap rates.

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    Generic Aadhar supports single-retail drug stores all over India. It provides medication directly from the WHO-GMP pharmaceuticals and has tied up with drug retailers from Mumbai, Pune, Bangalore, and Odisha in a profit-sharing model.

    Generic Aadhaar – Business and Revenue Model

    Generic Aadhaar follows a B2B2C model. It is appointing franchisees across India by aggregating single medical stores that are in bad shape due to the intense competition in the pharmaceutical segment. The company is passing on various benefits to the franchise owners.

    Generic Aadhaar has introduced a business model that can support multi-disciplinary medications. The stores are equipped to sell all types of allopathy medicines. The company is actually complementing the Indian government’s effort of making affordable medicines available to everyone.

    Generic Aadhaar | General Chemist
    Generic Aadhaar | General Chemist

    Generic Aadhaar’s franchising model helps in generating employment for the youth in India and also promotes entrepreneurship. While taking stock of the customer’s advantage, Generic Aadhaar ensures that small chemists and retailers earn the benefits of the business too. The medicines are given to the pharmacies at their manufacturing cost which is then sold to customers, thereby reducing the retail price up to 80 percent. The organization also collaborates with the manufacturers by increasing their supply as demand increases, thus manufacturing facilities, in turn, double their profits. Generic Aadhaar protects the interests of customers, retailers, and manufacturers alike.

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    Generic Aadhaar – Startup Launch

    Generic Aadhaar started this venture for helping and benefiting the people of India. Earlier there were very few targeted people but now, by word of mouth they are able to expand Generic Aadhaar outlets across India. Due to affordable medicines, they are growing and getting demands for their brand “Generic Aadhaar” as an identity in India.

    They are not only aiming in their business growth but also, to be the best in providing Generic Medicines to every Indian through their venture. Most of the senior citizens who purchase generic medicines have cut their medical bills up to 50% with the same effect of Branded Medicines.

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    Generic Aadhaar – Challenges

    The biggest challenge for Arjun Deshpande, the founder of Generic Aadhaar, was to make people aware of generic medicines and build their trust in such medicines. Buyers were more inclined towards branded medicines that were quite expensive when compared to their generic counterparts.

    With passing time, misinformation on generic medicines gradually dispelled and Indians started to realize the benefits of purchasing them. During the COVID-19 pandemic, the Prime Minister also encouraged Indians through the ‘MAKE IN INDIA’ and ‘Aatmanirbhar Bharat’ campaigns to purchase generic medicines and support Indian pharmaceutical brands on both national and international levels.

    Nothing seems to stop Generic Aadhaar at the moment! Indians are now building reliance on the company’s outlets for the purchase of medicines.

    Generic Aadhaar | Team
    Generic Aadhaar | Team

    Generic Aadhaar – Advisors and Mentors

    Shri Ratan Tata is Generic Aadhaar’s sole mentor and guru. He also invested an undisclosed amount in the innovative venture.

    Ratan Tata invested in Generic Aadhaar
    Ratan Tata invested in Generic Aadhaar

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    Generic Aadhaar- Achievements and Recognitions

    Arjun Deshpande, the brain behind Generic Aadhaar, has several recognitions bestowed upon him.

    • At Asia’s Biggest Entrepreneurship Awards 2020, Arjun Deshpande was awarded “Young Entrepreneur of the Year” by Mrs. Madhuri Dixit Nene.
    • Young Achievers Award 2020 by Indian Achievers Forum India (IAFI).
    • Dynamic Entrepreneur of the Year 2020.
    • Indian Pharmaceutical Manufacturing Association felicitated him in the presence of the Chief Minister of Gujarat in 2019.

    Being a young entrepreneur doesn’t mean he lacks experience; Arjun has always demonstrated his presence and abilities by sharing his journey infamous talk shows as a key-note speaker.

    Generic Vs. Branded Medicine | Arjun Deshpande | TEDxDSCE
    • TEDx Bangalore – 2019
    • CPHI China – 2019
    • IIT Mumbai – 2019
    • Dayanand Sagar, Bangalore – 2019
    • KIIT University, Bhubaneswar – 2019
    • IIT RGPV Bhopal – 2019

    Generic Aadhaar – Future Plans

    Generic Aadhaar is rapidly expanding the presence of its franchise outlets in India. The company wants to reach every corner and every Indian in the future coming years. Today they have extended to 130+cities across India, but later they are planning to reach every corner it may be not only tier-1 cities but also tier-3 cities and rural towns of India, where there is more requirement. They want to be the only brand that never fails to provide Medicines of Different segments in India.

    Generic Aadhaar – FAQs

    What are Generic Medicines?

    A generic drug is a non-branded medicine that is cheaper as compared to the original branded drug. It has the same active pharmaceutical ingredient (API) but it costs 30-80% less compared to the original ones. It is a pharmaceutical drug that contains the same chemical substance as a drug that was originally protected by patents. Generic drugs are allowed for sale after the patents on the original drugs expire.

    Who is Arjun Deshpande?

    Arjun Deshpande, a teenager and a founder of “Generic Aadhaar – the fastest growing pharma company”, managed to convince Ratan Tata to invest in his startup. He is the youngest entrepreneur of India in the pharmaceutical sector.

    Why you should buy from Generic Aadhaar outlets?

    The team at Generic Aadhaar works aggressively towards making the largest portfolio of quality generic and branded medicines available at its outlets, at prices up to 80% lower than their branded counterparts in Generic Medicines.

    Why are Generic medicines cheap?

    Generic medicines are cheaper because it doesn’t have to face the brand name and manufacturing cost. The drugmaker doesn’t have to undergo the invention or marketing cost as the chemical formula.

    Are the medicines prescribed by doctors are Generic medicines?

    In India, 80-85% of prescribed medicines are Generics. However, due to immense marketing by the pharma companies, the price benefit does not reach the patients and even the generic medicines are costing much higher.

    Who introduced generic medicines in India?

    The Government of India launched the Pradhan Mantri Bhartiya Janaushadhi Pariyojana in 2008, under which it would provide good-quality generic drugs at affordable prices. So far, it has opened 7,290 distribution centers around the country; there should be more.

  • What is Product Management? | Role and Responsibility | Skills Required

    Product management is an umbrella term that includes activities ranging from conceiving an idea for a product to one day introducing that product in the market. It includes market analysis, developing, positioning, marketing and communication.

    The goal of product management is not just developing products that fulfill people’s needs but also analyzing and communicating with the customer to exceed their expectations.

    The product manager defines the vision for a product, prioritizes facilities and product features, researches and gathers input about the market, organizes execution of the product strategy and carefully examines the product cycle.

    “The job of a product manager is to discover a product that is valuable, usable, and feasible.” – Marty Cagan

    Table of content

    Product Management – Myths
    Product Management – Roles and Responsibilities
    Product Management – Skills Required
    Product Management – FAQs

    Product Management Skills

    Product Management – Myths

    Some of the myths related to Product Management are:

    1. “You need a technical degree like Computer Science to get into Product Management”.

    While having a technical degree can certainly give you a push forward, it doesn’t necessarily entail that you won’t be able to get into product management without a deep understanding of technology.

    2. “Product management is concerned only till the launch of a product”.

    One of the most common and untrue myths of all! After the launch of a product, it is the job of the product management to gather and analyse the feedback and customer response to the product in order to gain insight about what the customer actually want and need.

    3. “Product Management is the equivalent of project management”.

    Project management involves the timeline of a project, the planning, scheming and execution of it all. Unlike product management, where even after the development and launch of a product you have to keep track of it in order to continually reinvent it to fit the customer’s demands.

    4. “Product manager is the boss”.

    Product managers are the people who are first hand involved in the development and related strategy of the product, they have information about everything surrounding the life cycle of the product. But this does not, to any extent, ensure the product manager’s authority over the product.

    Product Management – Roles and Responsibilities

    Product Management Overview
    Product Management Overview

    Customer Analysis: Detailed and extensive customer research is essential for the strategic planning of the product. It is also necessary for analysing the competitor’s strategy for their product and bettering your product and services to fit the consumer’s needs.

    Product Strategy: Relevant information and knowledge is essential for the conceptualisation of a highly efficient strategic plan. It includes the conception, development process, launching, product goals and objectives and a rough overview of the product. It is important even after the launch of the product.

    Communication: It means cross-functional leadership. The key stakeholders like executives, developers, investors, project managers and departments of marketing, sales and development have to be made aware about the product strategy. This increases the internal confidence of the company in the product.

    Feedback and Data Analysis: After the development, testing and launching of the product in the market has been done, the product management studies and analyses customer feedback by conducting interviews, surveys and other data. It tells the team what should or shouldn’t have been done and what the changes to keep in mind for future.

    Product improvement: The product management, after the launch of the product, is consistently involved in improving the product, fine tuning the defects, analysing customer response and testing the results. This role of the product management is the key to ensure maximum satisfaction for the customer and thus, better reception for the company.

    Product Management – Skills Required

    Product Management skills
    Product Management skills

    Interpersonal skills: A product manager should have a good interpersonal skillset which includes having problem solving skills, being decisive, having an insight into the minds of their clientele and being a good communicator.

    Strategic Thinking: Product Managers should be able to think strategically and devise plans with a proper understanding of the product life cycle, sales, customer segmentation, goal orientation and, marketing and development process knowledge.

    Active listening: Listening more than speaking and having patience are core qualities required for a product manager. Listening to what your customers want, what your stakeholders want, more often than not, results in the success of your product management.

    Presentation skills: Product managers have to give a lot of presentations. They have to present their strategy to the executive team, to the stakeholders, sales team, marketing team etc. they may also have to hold webinars and conferences to promote their product.

    Leadership skills: For a product to become successful, it has to be backed by a team of professionals, coordinating and working together. And as a product manager, leading that team, having skills like cooperation, compassion and diplomacy are essential.

    Oratory skills: A product manager should have a way with words. They have to converse and deal with both internal and external stakeholders. They also have to understand the needs of the clientele which may or may not be culturally and linguistically diverse and adapt with the language accordingly.

    Negotiation skills: Since the Product Manager has to manage and work with different departments and teams of professionals along the life cycle of the product, they should know how to and when to negotiate and get things done the best and the fastest way with minimum wastage of resources.

    Product Management – FAQs

    Do product managers need to code?

    No, product managers do not necessarily need to code but having some basic knowledge can help with the work.

    Do product managers need to have an MBA?

    Having an MBA in the field of product management can help tremendously but it is not a prerequisite to the job.

    Do product managers work long hours?

    Yes, it is usually common for product managers to work long hours as there are a lot of responsibilities attached with the job.

    Do product managers get paid well?

    Yes, as it is a managerial position, the salary of a product manager is a highly sufficient one.

  • Reasons Why Companies Should Outsource Their IT Support

    There are many perks of running your own business, but it also requires being particular about saving any overheads to keep the company afloat. One such way is to outsource your IT support as it will be in favor of your company. However, most businesses are skeptical about it due to many misconceptions. But we are here to bust those myths. Here are 5 reasons why companies should outsource IT support.

    You Can Focus On Your Real Work

    As an entrepreneur, your time is your biggest asset. You cannot waste it on taking care of things that you can easily let others handle for you. On top of this, the market is constantly evolving and if you are not up on your feet, your company can be left out. Outsourcing your IT support will make you save time that you can utilize elsewhere.

    Your company will have many rampant issues that will need your utmost attention. Creating an efficient workflow will provide you time to solve those issues.

    It is Secure

    Due to the ongoing pandemic, many companies have completely shifted to remote work. While it has several advantages, no one should undermine the possibility of a security breach. It is as important as hiring guards at your office.

    However, IT security is expensive and you will have to hire some experts to get the job done properly. An outsourced IT support will provide your company with the same benefits with added benefits as they will already have the experts of the field. This will ensure a safe workflow so you don’t have to worry about any security breaches.

    Affordable

    Hiring people that are experts in IT is expensive. Especially if your work is not related to it, you will find it hard to find the right people and when you will come across any experts – they will charge a lot.

    You can save up to 40% by outsourcing the IT support department altogether. There are many outsourcing companies that will do the same job in an affordable package. You can kill two birds with one stone.

    Expert Advice

    If you will hire new employees – they will take time to get the hang of the work. On the other hand,  professional IT support companies will know their job to the tee.

    Hiring another company to do the same job will put you ahead of your game as you will have the support of experienced professionals who will fit into this role perfectly and help you stay afloat as a company.

    Allocation of Resources

    Having your own IT support will mean another row in the list of your resource allocation budget. You will have to allocate a space to them and spend your resources on them. However, outsourcing the IT support department will set you free from these commitments.

    You can allocate those resources somewhere else which will help you polish your product/services and help you expand your company.

    To Sum It Up

    Thanks to capitalism, new companies are emerging in the market every day. One thing that they are not aware of (mostly) is that they can outsource some of their departments such as IT support to make things easier.

    For example, outsourcing your IT support to another company can help you save up on resources and money. An allocated amount will be paid off to the outsourcing company and you will not have to deal with any overheads.

    Similarly, it will be more secure and efficient. People who run these IT support companies know their job well, your company will be in a safer position and you can use that time to work on your own company.

  • 9 Best Practical Tips for Handling Your Client’s Invoices

    Sending out invoices to your clients and getting them paid in a timely manner is important for your business to survive. To make sure you minimize payment delays and continue to operate your business smoothly, here are our best tips for handling your client’s invoices.

    1. Discuss Payment Terms First

    To avoid miscommunications and payment delays, it’s best to confirm payment terms and details before going ahead with completing an order. It’s a good idea to get your clients to sign a policy letter that explains how the payment terms work and what consequences there will be should a payment be missed. This can prevent your clients from missing payments in the first place or encourage them to ask you for personalized payment plans in advance. If you know when your client can pay, you can adjust yourself accordingly and keep the relationship intact.

    2. Set Up Flexible Payment Options

    The more payment options you offer, the less likely your customer is to skip a payment. Credit cards, electronic transfers, cash, money order, cheques, and even PayPal, Apple Pay, or Stripe are easy to accept and can make it simpler for customers to pay you. If you only accept one form of payment, it may be more difficult for your clients to get you the funds in a timely manner.

    3. Respect Your Timeline, Too

    If you expect your clients to pay their invoices on time, then you should also take care to fulfill your products or services on time and send an invoice in a timely manner. Try to avoid sending an invoice shortly before it’s due because this doesn’t give your client much time to prepare payment. Instead, ensure you send invoices out quickly and deliver on your goods or services as discussed, too. Your clients also have a financial plan and timeline to follow so it’s courteous and advantageous to respect those timelines, as well.

    4. Create Detailed Invoices

    Your clients are likely ordering from more than one supplier so they may not recognize what the invoice is for as soon as they receive it. If your client has to work at figuring out what the invoice is for and what each charge on it represents, it will delay their ability to process your invoice and pay it. To avoid this delay and confusion, include all details on your invoice. There should be a breakdown of all charges with clear explanations for each one. Payment terms should be visible and easy to understand. The terms must be the same as the previously agreed-upon terms to avoid any confusion. This will help you get your client to pay their invoices much faster.

    5. Follow Up ASAP

    As soon as you notice a payment is missing, you should contact the customer directly to ensure there are no issues they are waiting on you to fix before sending payment. The quicker you connect, the quicker you’ll get paid. Be sure you are contacting the right person at the client’s company to ensure there are no further delays in processing your invoice and receiving payment. If there is an issue on your end that your customer expects you to sort out, you can get to work on it immediately to ensure your payment comes in.

    6. Maintain Excellent Invoice Records

    To stay on top of your invoices and make sure they are sent out on time and paid on time, you should keep excellent records. A digital accounting software system can make it very simple for you to manage your clients’ invoices. This will help you stay organized and ensure you manage your incoming funds and outgoing expenses more easily.

    7. Consider Invoice Factoring

    If you are having difficulty getting your client to pay an invoice on time, then it may have repercussions on your business. It can slow down your ability to order supplies and pay your employees. Your incoming funds are essential to the survival of your business, especially if you are just starting out and have little coming in. Invoice factoring helps you convert your invoice into cash so you can continue to operate. Essentially, you are selling your invoice to a factoring company that will pay you nearly the total value of the invoice right away. When the client pays you, you can then pay the factoring company back. They will also charge a small percentage to cover their fee. You’re receiving a little less to be able to receive at least most of the funds right away.

    8. Ask for a Deposit

    Asking your clients for a deposit before you fulfill your order is a great way to secure some funds early on to cover the cost of supplies. This also makes it more likely for your customer to pay the balance since they have already invested. Asking for a small deposit is usually a request that customers understand and won’t have an issue with. It also ensures you have at least some cash flow going on throughout the transaction.

    9. Offer Incentives to Clients

    To encourage your clients to pay their invoices quickly, offer incentives. For example, a rebate or discount that applies to early payment or payments before 30 days will encourage them to pay quicker. Offering incentives can help you get your cash flow moving much easier and will minimize the need for chasing your clients down for money. If they receive benefits and rebates for early or on-time payments, clients will be most likely to pay.

  • 10 Ways How you can Secure your Startup against Cyber Risks in 2021

    Startups and small businesses are at serious risk of cybercrime. Ransomware, IoT attacks, DDoS attack and deepfakes are threats to growing companies who lack the professional protection that larger firms may enjoy.

    It’s crucial that startups and small businesses invest in IT security to provide the protection they need to power productivity. If you’re struggling to identify where to start, here are 10 ways to set up cybersecurity for startups.

    Why Startups must get serious about protection
    Invest in Antivirus protection
    Commit 100% to the cloud
    Protect all Passwords
    Create Professional policies
    Restrict Network access
    Safely store sensitive data
    Establish a culture of security
    Have a Recovery backup plan
    Invest in protection
    Work with a IT partner
    FAQ

    Why Startups must get serious about protection

    Almost half (46%) of all UK businesses were the victims of cyber-attacks, the Government found in a 2020 survey. Across the world, 53% of small businesses are targeted by hackers and online criminals, says Cisco – and the threat level is increasing.

    Of those businesses attacked, 33% experienced a cyber breach once a week in 2020, costing almost £1,000 each time to fix the problem. As well as incurring expenses, companies can suffer from data losses and damage to reputation that can be more difficult to claw back.

    While startups may not have established a profile, missing protection makes them easy targets for online criminals. A lack of investment in infrastructure, personal safety, and a robust IT security culture means that startups can be easy pickings for online predators.

    The National Cyber Security Centre has created a set of simple guidelines for startups, but these are far too basic for most businesses.

    At Syntax, we work with businesses of all sizes to safeguard their IT systems and provide IT security solutions that deliver the highest levels of protection.

    Invest in Antivirus protection

    While the Government may have recorded a fall in viruses or other malware (from 33% to 16%), strong antivirus software should still be the first investment you make.

    Online threats have increased by almost 30% during the Coronavirus pandemic, as digital criminals attempt to take advantage of lapses in online defenses.

    Antivirus software acts as a first line in protection, alerting you to threats and safeguarding your systems from identified risks. While it may be tempting to use free antivirus software, avoid it. Investing in a professional antivirus package is the only way to enjoy total peace of mind and protection.

    Installing your antivirus software is just the start; you’ll also need to ensure that everyone in your organisation installs updates as soon as they’re released as new threats emerge every day.

    Think you’re protected using a Mac? Macworld provides a list of all threats, and it’s growing every day. Whatever platform you use, invest in anti-virus software.

    Commit 100% to the cloud

    Storing documents and data in the cloud isn’t just convenient; it can be much safer too. As a business owner, you maintain control and oversight of all information. You’ll have an audit trail, too, enabling you to see who is accessing what data and when. It’s easy to generate audit logs in Microsoft 365, providing total transparency.

    By using cloud services, you can hopefully avoid dangerous practices, such as saving to a local computer, emailing files through a web-based provider, or using external storage devices such as USB sticks.

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    Protect all Passwords

    An incredible 85% of all data breaches were caused by human error, including poor password protection, Verizon found in its 2021 survey. The problem is your people. A Google survey found that 65% of people used the same passwords for multiple accounts. This gives hackers and online criminals easy access to your systems.

    Staff must understand the risks of poor password etiquette, including reusing the same password multiple times. Other simple but common issues include writing passwords down or sharing them with other employees.

    Create Professional policies

    The Federation of Small Business recommends you create a password policy to ensure staff choose (and don’t reuse) passwords, and we agree. But you should go further. Every startup and small business should develop professional policies to safeguard IT systems.

    A strong policy will spell out precisely what you expect of each staff member, including what they shouldn’t access, how to manage data, keep passwords secret and more. An IT policy will also ensure that your organisation adheres to legislation, including GDPR and UK data protection rules.

    Restrict Network access

    Cloud platforms enable you to set tiered access levels, allowing only those who need the information to access it. This may mean that only your accounts team, for example, can access information on invoices and outgoings.

    It’s critical as insider threats – where someone within your organisation intentionally accesses information they should – are on the rise. Research in 2020 found that 60% of all data breaches are caused by insider threats. Don’t give anyone – outside or inside your organisation – a chance.

    Safely store sensitive data

    Data is likely to be an organisation’s greatest asset and its most significant risk. Protecting data isn’t just a legal duty; an information breach can lead to long-lasting damage to your reputation too.

    Cloud storage systems provide extra safety for your data. For example, you can set tiered access, provide password protection and see who has accessed data and when. Secure cloud storage systems are also external to your business and regularly backed up, removing one stress point from your IT security.

    Establish a culture of security

    We’ve identified that your people are often the weakest link in your IT security, but it doesn’t have to be that way. Establishing a positive security culture ensures that all staff – from the boardroom to the backroom – take IT security seriously.

    Each member of staff should understand their role in keeping your startup safe. Installing updates, protecting passwords and identifying potential threats are just some of the ways you can create a culture of IT security.

    It’s also critical that staff have the confidence to immediately raise an alert if something goes wrong (and unfortunately, it will).

    Have a Recovery backup plan

    It’s highly likely that you’ll experience an IT security threat, so we recommend that every startup has a robust disaster recovery plan. Each plan should include details of how you’ll manage your hardware, software and essential systems in a crisis.

    The priority here is to ensure the safety of crucial data and to restore systems as soon as possible so you can continue to work.

    Using cloud-based systems and software can reduce your time offline, restoring productivity – and profitability – as quickly as possible.

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    Invest in protection

    Smaller businesses invest proportionally smaller amounts in IT security than larger firms, stats show. This increases their risk of damaging data breaches and online threats.

    Every startup should ensure that IT security is a priority and invest in it. There’s no one-size-fits-all approach here; the amount you spend depends on your organisation, systems, and the security risks you face.

    Our advice is to regularly review IT security spending and avoid the temptation to cut costs or corners.

    Work with a IT partner

    Managing IT security is a full-time job, but too many startups struggle to balance priorities, compromising their protection. Working with an experienced partner can prove to be a cost-effective way to manage your IT systems.

    Outsourcing support can be cheaper and more effective than in-sourcing the task to an already over-stretched IT team. Experienced providers can deliver 24/7 support and guidance, as well as protecting you from new and emerging threats.

    FAQ

    Do startups need cybersecurity?

    Yes, If you’re a small business or a startup you are vulnerable to hackers and so you should step up your cybersecurity to Keep your startup safe from hackers, data loss and breaches.

    What are the 3 major types of cybersecurity?

    Cloud Security, Network Security, and Application Security are the 3 major types of cyber security.

    Why do small businesses need cybersecurity?

    Small businesses should invest in cybersecurity  to protect their own business, their customers, and their data from growing cybersecurity threats.

  • Top 5 Most Effective Marketing Channels for SaaS in 2020

    As of July 2020, 4.57 billion people are using the internet today and this makes a vast potential customer base for SaaS companies. With the ease and advancement in technology, it is cheaper to make software today than it was ever before.

    With such resources and a rapidly increasing customer base software has taken precedence over hardware. This has to lead to a drastic transformation in the industry and the businesses are now thriving to reach profitability as fast as possible with the help of SaaS.

    Customer leads are the most essential key to every SaaS company. As the SaaS startup grows one of the problems that arise is the generation of customer leads. Even though you deploy a lot of manpower in your marketing team, sometimes the traditional techniques don’t work. In this article, you will find the most effective marketing channels for SaaS companies that will help the business in getting more and more customers’.

    Embracing Content Marketing
    Paying attention to SEO
    PPC Campaigns
    Strong Referral Marketing
    Retargeting
    FAQ

    Embracing Content Marketing

    SaaS content marketing is a basic strategy to grow any SaaS business or a startup. The target customers might already be in search of the solution that your business is providing. SaaS content marketing can help you get through these potential customers by answering the questions of potential customers.

    SaaS content marketing isn’t as simple as creating blogs but SaaS Content writing is high quality, persona-driven content that is not only search engine optimized but also offers value to your SaaS potential customers.

    The content which touches the relevant pain points of the market is what you need. Having well-researched questions and providing the solution and answers to them is what will help your platform.

    If your content is providing solutions to the pertaining problems and is giving value to the audience, then they would be ready to exchange that information in return for their contact information, which is what you need as leads and prospective customers.

    Often SaaS companies who provide intriguing content like white papers, ebooks, videos, infographics, and other resources can get email addresses and contact information by simple login and registration processes. This allows your business to convert such leads into your customers in your sales funnel. SaaS blogs are usually a combination of broad topics and specific questions that enable maximum audience reach.

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    Paying attention to SEO

    SEO works hand in hand with content marketing as it will help your content to be more reachable and discoverable on search engines like Google, and Bing. SEO is further categorized into On-Page SEO and Off-Page SEO.

    On-Page SEO

    Creating content that people want is in your control. What people want to read, share, and link to is what you need to provide them keeping in mind the factors like keyword strategy, title usage, Meta descriptions, and internal linking. These factors can be controlled by you and that is what On-Page SEO is all about.

    Off-Page SEO

    The SEO that refers to link building is known as Off-Page SEO. In this, the quality of links that are provided in the content which is taken from the trusted and reliable sources is what matters and that is how your content will be optimized better. Even popular and influential media account links to improve the quality of the content and helps to have a strong SEO.

    It is very important to not only improve the SEO of your blog posts but for the website as a whole. Having an understanding of the potential customers and researching keywords accordingly is the primary step followed by reviewing all the content present on the website. It is only then the SEO will improve and will show the expected results.

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    PPC Campaigns

    If you feel that content marketing and SEO rankings are not enough for generating traffic and leads then PPC campaigns might be helpful. If your SEO is aligned and is supporting your keywords and links with your PPC keywords and phrases then you have the right SaaS marketing strategy. You must pay close attention to your ad quality score as you might end up paying high amounts on PPC keywords and get no results.

    Strong Referral Marketing

    One of the cheapest and effective marketing strategies is to generate leads through referrals from your current user base. Strong referrals are more trusted than traditional advertisements.

    To acquire new customers, referral programs work well as people are more likely to buy or use something that is referred by someone they know and trust. Your website must have a landing page where your customers can make referrals and promote you at a little or no cost. Referral programs can help you achieve the loyalty of your target market and can increase customer lead. To do so, it is important that you:

    • Give good reasons to your customers for making genuine referrals
    • Make it quick, easy, and understandable
    • Keep the right incentives to motivate customers
    • Promote your SaaS referral program and track them

    Whether it is giving discounts or providing premium services for free, you must incentivize your SaaS referral program and find ways to encourage your current SaaS customers so that they spread the word and make referrals.

    Retargeting

    Today retargeting is a very helpful and useful technology that allows you to show advertisements to the prospects after they visit your websites. By placing a tracking pixel on your website you can set up a retargeting network.

    It is also very important that you do not overwhelm your audience with your adverts, it might annoy them. Hence it is imperative that you cap the frequency on the number of times you retarget the ads.

    Retargeting dramatically increases conversions by re-engaging the audience that visited your website. It helps you to track your website visitors and provides contextual offers that lure back the website visitors.

    Regardless of the business industry that you belong to, retargeting is one of the most effective Saas marketing strategies used today and has proven to be very successful in increasing customer turnovers. Retargeting helps you to establish credibility, trust, and familiarity with your brand with your website visitors.

    By combining these different marketing channels and testing them often, SaaS companies achieve success. By having more than one marketing channel, the company gets good lead volumes and more SaaS customers.

    FAQ

    What are examples of SaaS?

    Some of the examples of SaaS are BigCommerce, Google Apps, Salesforce, Dropbox, MailChimp, ZenDesk, DocuSign, Slack, Hubspot.

    How to market SaaS products?

    Content Marketing, Product Trials, Search Engine Optimization (SEO), and Retargeting are some of the ways to market your SaaS.

    How do you get SaaS leads?

    Content development and inbound marketing are some of the effective ways at generating leads for a SaaS startup.

  • 6 Most Profitable Cow Business Ideas

    India, the mystical land wherein cows are preached to be the holy mother. People have high regard for Cattle, especially in Hinduism. If one reads our scriptures, they’d realize people associated with the cow business are in a better financial situation than others. Cow business startups have rendered themselves to be extremely profitable, globally, since all Cow products are exceptionally useful.

    As per the Food and Agriculture Organisation, the Indian dairy market values at around $30 Billion since India produces 160 million tonnes of milk and caters to more than 75 Million dairy farms per year. Having the largest cattle population in the world, Indian farmers highly depend on the Dairy industry to incur profits. After the United States, India holds the position of second-largest milk producer in the world.

    Currently, a number of youth startups are pacing up as the government of India promises countless cow business loan, investment plans and schemes to introduce a quality wave of income in our farmer’s pockets.

    Livestock Population Share of major species
    Livestock Population: Share of Major Species

    Agriculture/cow business ideas and animal husbandry startups, especially cow rearing would help a range of small farmers. Since cow products are naturally beneficial to the human body, a low investment cow business startup dealing with such sustainable products would be profitable to everyone. So if you’re planning to start a cow business in India, go ahead!

    Prime Minister Narendra Modi agreed to the formation of a committee that would be dedicated to the conservation and protection of cows. The Kamadhenu Ayog, 2019 focuses on enhancing the growth of the livestock industry with an initial investment of INR 500 Crore. Encouraging youth successfully into a Cow Business Startup, the Rashtriya Kamadhenu Aayog is functioning suitably. Some of the ideas cow business startups are:

    Milk-Based Products Startup
    Pest Repellants and Fertilizers Startup
    Cow Urine Products Distillation Plants
    Religious Cow dung products
    Natural Beauty Products
    Breeding and rearing of local cow breeds
    Frequently Asked Questions

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    Milk-Based Products Startup

    Milk-based products of Desi Cows like Ghee, Cheese, Butter Milk, Lassi, Paneer etc are highly popular as individuals and companies require them on a daily basis. The dairy business profit is high, as a wholesale supplier of any of these products would be quite beneficial as a business.

    Since this would be a B2B, you’d save tremendous amounts of money on marketing and advertising. A business idea for dair farm would require minimum advertising but good contacts. Having your own farm and produce will always be recommended as it helps you be in control of the demand and supply efficiently. And as milk is something that almost everyone consumes, milk business ideas are never going to go out of fashion.

    Pest Repellants and Fertilizers Startup

    The cow dung business in India is profitable, as Cow dung and cow urine of native cows are often used as Fertilizers and Pest Repellents by locals for a long time. These are suitable for manure in organic farming as these consist of beneficial microorganisms and earthworms that keep the crop safe.

    With your cow dung business ideas, you could make these products available for gardening enthusiasts living in cities. Since it’s a natural and trusted fertilizer that will be provided by you in a hygienic and properly packed way, people with a love for gardening are more likely to purchase such products.

    This could be a great cow business idea since you’re meeting the demands of your customers efficiently. Also, the trust value for ‘Cow dung as a manure’ is already established in the market all you have to do is remove its typical stinky image through your cow dung startup’s branding. So how do you start a cow dung business? By planning and researching a perfect cow business plan.

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    Cow Urine Products Distillation Plants

    For a flourishing farm, Bio-pesticides and Bio-fertilizer should be made available for the agriculture industry. India being an agriculture-oriented country definitely, needs such products.

    Cow urine being the most beneficial and natural pesticide/ fertilizer if made available to your nearby farms can tremendously change the scenario of your cow business setup. Cow urine mixed with neem oil is preferred by Indians to eliminate fungal infections and insects. It is also used to eradicate parasites and nematodes.

    Selling properly packaged Cow urine in rural areas can also be rendered as a quality idea due to its religious value amongst the Hindu Community. Since it is being used in various rituals and customs, making it available neatly and safely will also help you make a bank. Here’s a secret that many don’t know, one might find it disturbing, however, here it goes.

    Consumption of distilled Cow urine or ‘Gomutra’ actually helps your body in unfathomable ways. Some of the benefits of consuming cow urine involve increased immunity, weight loss, detoxification, and control of cholesterol. Gomutra also helps in repairing damaged cells and tissues and help to tend joint pains.

    Usage Of Cattle In Indian States
    Usage Of Cattle In Indian States

    Religious Cow dung products

    Cow dung or commonly known as ‘Gobar’ have been used in Indian households since time immemorial since they have several important uses. From mending the house to celebrating festivals to creating a pyre, Cow dung is used almost everywhere, and having your cow business catering to this need will also be rendered beneficial.

    Cow dung is an exceptional option for making religious products such as incense sticks, dhoop batti, Gobar pats etc. At times, Hindus burn logs of wood as a homage to the god of fire during rituals and ceremonies. This, however, isn’t eco-friendly as it raises Carbon dioxide levels in the air.

    Replacing these with Gobar pats and other religious items made up of Cow dung will definitely be of help. Your innovative cow business for religious products will be considered fantastic as you’re saving the world, reducing costs as well as maintaining the religious believes of the community. This is another one of many cow dung business ideas you can look into!

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    Natural Beauty Products

    Beauty obsessed much? Well, the answer is yes. Obviously. We have to look amazing no matter what, it’s okay if you don’t. However, to ‘glow and lovely’ yourself, it’s always advisable to use natural beauty products instead of expensive coats of makeup. This right here is an opportunity for you that will help people achieve their look goals.

    Skincare products are a huge industry globally. People love using natural products since the trust of nature is definitely more than mere companies. Taking into account the excessive demand for beauty and skincare products your startup could manufacture products using milk. You could also include varieties of products that cater to hair and skin. Milk-based, dung based, urine-based products could be made available for people of all ages.

    Breeding and rearing of local cow breeds

    Cattle rearing and breeding are considered to improve farmers’ total income and boost their living conditions. While breeding and rearing Indian cow breeds also cow with advantages as their products can also have medicinal benefits. Breeding specifics native cow breeds will increase the volume of dairy products being produced.

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    Conclusion

    Since cow-based materials are rich in proteins and amino acids they do not irritate the skin. They can be used on sensitive skin types as well. Several startups have already started growing their business in Cowpathy by manufacturing products like soaps, shaving creams, face washes, toothpaste, cleaners etc. The opportunity in this market is amazing, one just has to hit the bull’s eye! All the best!

    Frequently Asked Questions

    Is cow farming a profitable business?

    In India, dairy farming is definitely a profitable business venture.

    How can I start a cow business?

    To start a cow business you must make a cow business plan after research. The cow business model will include a good location, essentials tools, cattle, veterinarian doctors and employees.

    Is the cow milk business profitable?

    Yes, the dairy business profit is high as 416 litres of milk are obtained daily from these 35 cattle, while the cost of one litre is Rs 60. So the daily income can range from Rs 24,960 while the total expenditure per day comes to Rs 14,900, which is a huge profit.

    Which cow is the best?

    The best cattle breeds in India are Gir, Red Sindhi, Rathi, Ongole, Deoni, among others.

    How much does it cost to start a milk business in India?

    In India,  a dairy business investment will cost an average of 10 to 20 Lakh Rupees minimum.

    What can milk be used for?

    In terms of business milk, can be sold as s standalone item or it can be changed into Ghee, Cheese, Butter Milk, Lassi, Paneer and more. It is also used in the beauty industry for its natural benefits.

    Who is the largest milk producer in the world?

    India is the world’s largest milk producer with 22% of global production.

  • Story of NimbusPost: Creating Tech-enabled Logistic Ecosystem

    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 NimbusPost.

    The Indian logistics industry is expected to grow by USD 10.74 billion during 2021-2025. While there are many startups disrupting this industry with tech-based solutions, NimbusPost is determined to create a tech-enabled logistic ecosystem to provide the most beneficial shipping services to eCommerce sellers.

    Founded by Yash Jain and Rajeev Pratap, NimbusPost aims to bring together India’s leading local and national courier partners onto a single platform. Offering unmatched benefits like 17+ courier options, zero subscription cost, lowest shipping rates, API integration, access to real-time NDR panel, early COD settlements, and much more, NimbusPost has set a benchmark of quality logistics services.

    StartupTalky interviewed the founders of NimbusPost to know the company’s growth story & startup hacks. Also to get insight on NimbusPost’s products, how it started, its competitors, future plans & more…

    NimbusPost – Company Highlights

    Startup Name NimbusPost
    Founder Yash Jain and Rajeev Pratap
    Headquarters Gurgaon
    Founded 2018
    Industry Logistics
    Website nimbuspost.com

    NimbusPost – About and Vision
    How NimbusPost Works – Services offered
    NimbusPost – Logistics Industry Details
    NimbusPost – Founder and Team
    NimbusPost’s Ideation – How it Started
    NimbusPost – Challenges Faced
    NimbusPost – Name Meaning and Logo
    Launch & Strategic Growth Hacks of NimbusPost
    NimbusPost – Funding
    NimbusPost – Competitors
    NimbusPost – Recognitions and Achievements
    NimbusPost – Current State and Future Plans
    NimbusPost – FAQs

    NimbusPost – About and Vision

    NimbusPost is one of the leading logistics platforms in India. With the team’s strong technical background and a reliable customer support team, NimbusPost offers tech-enabled logistics services to SMEs and large enterprises.

    Its vision is to create a tech-enabled logistic ecosystem to provide the most beneficial shipping services to eCommerce sellers. As a young company, with a fresh outlook towards business issues, it aims to help businesses overcome their day-to-day order-fulfillment challenges.

    “We believe in looking for solutions when others see only problems. By creating an advanced, multi-faceted logistics platform, our mission is to be the first choice for every logistics need of online sellers” as said by NimbusPost’s founders.

    Here’s the list of the Most Trusted Ecommerce Shipping Companies in India.

    How NimbusPost Works – Services offered

    The key attribute of NimbusPost’s services is to make shipping easier for businesses by automating their shipping process. The use of advanced technology like AI and automation empowers it to provide quick and hassle-free shipping, lesser RTO, maximum transparency, quick COD remittance, integration to eCommerce channels along with many other benefits.

    Following are some points highlighting how NimbusPost helps online sellers take care of their shipping challenges.

    • Wide range of courier options: Depending on a single courier partner keeps the sellers from serving customers in all locations. As NimbusPost brings India’s top 17+ local and national courier partners (DTDC, FedEx, Blue Dart, UPS, Delhivery, Gati, XpressBees, etc.) on a single platform, sellers can deliver packages to 27000+ pin codes across India, including even the remotest locations.
    • Reduce RTO: High return shipments mean high RTO. Delayed shipments and fake delivery attempts are the major reasons behind the increased RTO percentage. As NimbusPost offers the quickest deliveries with help of India’s leading courier partners, it can help reduce RTO orders. Also, by accessing the NDR panel in real-time, sellers can act on RTOs immediately and resolve them to reduce the RTO.
    • NDR panel: High RTO and fake remarks can cost a lot to the online sellers. NimbusPost allows real-time access to the NDR panel to let the sellers verify and resolve each RTO request at the earliest.
    • Shipping cost: Shipping at higher costs limits the online sellers from earning a good margin, but NimbusPost suggests courier partners that can offer delivery services at the best rates.
    • Auto cloud-calling: Without receiving any confirmation for COD orders, it’s difficult for online sellers to segregate spam orders from real ones, which mostly results in high RTO. NimbusPost’s automated cloud-call feature for COD order confirmation allows the sellers to immediately confirm the COD orders and manage the shipping accordingly.
    • Integration: Using NimbusPost’s integration feature, online sellers can directly ship the orders from their online stores on Amazon, Shopify, WooCommerce, Magento, Prestashop, and Unicommerce.
    • Early COD remittance: Waiting for months for COD settlements disrupts the cash flow for proper inventory management. NimbusPost offers the quickest COD remittance or even same-day COD withdrawal* on request to help the sellers with non-stop cash flow.
    • Real-time tracking: NimbusPost offers real-time order tracking to its sellers and end customers which enhances the sellers’ post-shopping experience and customers’ shopping experience to a great extent.
    • Zero subscription fee: Paying a high subscription fee adds to the unnecessary expenses of the online sellers. NimbusPost offers a free account set up and subscription to its services to allow the sellers to find their best shipping partner for each shipment.

    NimbusPost – Logistics Industry Details

    The sudden rise in the number of online purchases after the pandemic hit the world became the primary reason for the eCommerce industry’s exponential growth. This growth further led to the substantial growth of the logistics sector. Considering the pattern of online shopping is going to be continued by 67% of urban Indians even after the pandemic is over, eCommerce logistics is likely to grow at a rapid rate in the next 5 years. Stats show that the Indian logistics industry is expected to grow by USD 10.74 billion during 2021-2025.

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    NimbusPost – Founder and Team

    NimbusPost was founded by Yash Jain and Rajeev Pratap together in 2018. Both the founders lead the strategies related to methodology, marketing, and clients.

    Currently, NimbusPost is a team of 200+ logistics specialists and technology experts who work together to make a difference under experts’ guidance.

    NimbusPost Owner, Founders
    NimbusPost Founders – Yash Jain and Rajeev Pratap

    NimbusPost’s Ideation – How it Started

    NimbusPost’s foundation story goes back to the time when its founders, Yash and Rajeev, came across the shipping woes of e-commerce sellers. Most online sellers would struggle with their business because of being associated with less-motivated third-party courier partners. Be it a delayed delivery, damaged package, or some other shipping issue, the sellers would have to pay the price. Their dependency on these courier partners would often lead to a negative customer experience and eventually business loss.

    With NimbusPost, the founders aimed to bridge the gap between buyers and sellers with the help of professional shipping services. When they saw how much loss the e-commerce sellers had to bear owing to the everyday shipping obstacles, Rajeev and Yash saw an opportunity to create a quick and hassle-free shipping solution by bringing together India’s leading local and national courier partners onto a single platform.

    NimbusPost – Challenges Faced

    The biggest challenge that the team faced so far was right at the inception, which is to develop a tech-enabled platform using state-of-the-art tools and enlisting the country’s leading national and local courier partners to help the sellers maximum pin codes throughout the country.

    Apart from bringing on board names such as Blue Dart, Delhivery, XpressBees, FedEx, Gati, Shadowfax, and DTDC, NimbusPost has also joined hands with some of the best e-commerce platforms too such as Shopify, Magento, WooCommerce, and Unicommerce, Prestashop, etc. to come up with a brilliant customer service dimension to its logistics platform. Today, NimbusPost has a strong team of 200+ logistics and technology experts all of whom are between 25 and 40 years of age.

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    Another word for “parcel post”, the name “NimbusPost” signifies shipping. The moving design of its logo symbolizes smooth shipping flow.

    NimbusPost
    NimbusPost Logo

    Launch & Strategic Growth Hacks of NimbusPost

    NimbusPost has been a seller-centric platform since the beginning and has focused on easing out the shipping problem areas of online sellers. By using advanced technology, it has been able to offer unique features along with the free signup benefit to its clients. Offering all these benefits led NimbusPost to gain its first 100 customers.

    The key strategic hacks of NimbusPost are:

    • Tech front – It offers the most advanced technology platform
    • Traditional Marketing front – Groundwork has been the startup’s key strategy to reach the platform where it is today. NimbusPost participated in various industry events like seminars, webinars, exhibitions to make its footprint in the market
    • Digital footprint: Using the complete 360 of digital marketing space to create the buzz about our tech-enabled platform in the market
    • Alliance front: Strategic alliances with the industry leaders
    • Economical Pricing &  Upgraded services

    NimbusPost – Funding

    NimbusPost started as a bootstrapped organization and has a self-sustainable revenue model.

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    NimbusPost – Competitors

    Offering unmatched benefits like 17+ courier options, zero subscription cost, lowest shipping rates, API integration, access to real-time NDR panel, early COD settlements, and much more, NimbusPost has set a benchmark of quality logistics services. However, it considers Shiprocket and Shyplite to be its major competitors. Learn how to do competitor analysis in 5 easy steps.

    NimbusPost – Recognitions and Achievements

    • Recognized by major media platforms like Hindustan Times, Outlook India, and others for its efforts to provide enhanced logistics solutions.
    • NimbusPost recently won the Logistics Tech Startup of the Year Award at an award show hosted by Franchise India.
    • Gaining 10,000+ customers in only 365 days is another major achievement of NimbusPost.

    NimbusPost – Current State and Future Plans

    Currently, NimbusPost register 2 million+ transactions every day and have 10,000+ happy sellers. It aims to double this number soon by increasing its operation areas.

    As the startup is about to launch hyperlocal delivery, cross-border services, and more in the coming months, NimbusPost aims to reach a notch higher in terms of operations, quality of services, number of sellers, and business revenue.

    • Cross Border Logistics – Delivering products across the border isn’t possible for all online sellers due to various legal restrictions. NimbusPost’s cross-border logistics service will aid online sellers with cross-border trade very soon.
    • Hyperlocal Delivery – Through its hyperlocal delivery services, sellers will be able to enjoy an exceptional distribution experience. Retail sellers offering grocery, pharma products, food, etc. will be able to deliver at customers’ doorsteps in minimal duration.

    NimbusPost – FAQs

    What is NimbusPost?

    NimbusPost is one of the leading logistics platforms in India. With the team’s strong technical background and a reliable customer support team, NimbusPost offers tech-enabled logistics services to SMEs and large enterprises.

    Who are the founders of NimbusPost?

    NimbusPost was founded by Yash Jain and Rajeev Pratap in 2018.

    Is NimbusPost bootstrapped startup?

    NimbusPost started as a bootstrapped organization and has a self-sustainable revenue model.

    How does NimbusPost make money?

    NimbusPost stands with the notion – ‘Pay only for what you ship!’. It has various plans like Starter (starts @ 27/500 gm), Enterprise (starts @ 24/500 gm) & so on. Services under each plan differ a little based on the need of businesses.

    Who are the competitors of NimbusPost?

    NimbusPost considers Shiprocket and Shyplite to be its major competitors.

    What is NimbusPost’s vision?

    NimbusPost’s vision is to create a tech-enabled logistic ecosystem to provide the most beneficial shipping services to eCommerce sellers.

    Is NimbusPost an Indian Company?

    Yes, NimbusPost is an Indian company headquartered in Gurgaon.

  • Top 10 Richest Men in Delhi

    Delhi being the capital of India is one such metro city, where wealth grows. This city is home to many billionaires. India being a developing nation, most of the industries and big firms target the metros for business opportunities. Delhi is the largest commercial center in northern India that acquires around 42% of the state’s total wealth figure.

    As per surveys, the Delhi state gives out total revenue of 2958 billion rupees in the form of taxes to the central government. This shows why the richest business tycoons love to work and stay in Delhi. In this article, you will find more information about the richest men in Delhi.

    Shiv Nadar
    Rajiv Singh
    Vikram Lal
    Ravi Jaipuria
    Sunil Mittal
    Vijay Sharma
    Anand Burman
    Munjal Pawan
    Kuldip Singh Dhingra
    V.C. Burman
    FAQ

    Shiv Nadar

    Net Worth – INR 1,41,700 crores

    Shiv Nadar
    Shiv Nadar

    Shiv Nadar is an Indian industrialist; the founder of HCL enterprises and also the chief strategy officer at HCL Technologies. Shiv Nadar founded HCL in the year 1976 when he started making calculators and microphones and over the years worked to build a multi-billionaire company that today is the third-largest software service provider in India.

    Rajiv Singh

    Net Worth – INR 32,800 crores

    Rajiv Singh
    Rajiv Singh

    Rajiv is the chairman of DLF Ltd, appointed on the 4th of June 2020. DLF stands for Delhi Land & Finance which is a real estate development company founded in 1946. Rajiv was the executive vice-chairman of the company since 1999. He holds a professional degree in mechanical engineering. For working over decades in DLF, he has now reached this level with all his consistent hard work, perseverance, and strategic mindset.

    Vikram Lal

    Net Worth – INR 30,600 crores

    Vikram Lal is the founder of Eicher motors, a company based on the manufacturing of commercial vehicles in India. He started his career by joining the family company Eicher India founded by his father. He changed the concept of the company by expanding it from commercial vehicles to domestic vehicles as well.

    He started manufacturing motorcycles which are now sold by the name – Royal Enfield. He owns three factories in India and has sold over 6,97,582 bikes in just one year.

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    Ravi Jaipuria

    Net Worth – 25,700 crores

    Ravi Jaipuria’s name is also spelled as cola king in India. He is the chairman of RJ Corp. Ravi also owns a company with the name Varun beverages which to tell is the second-largest bottling partner for the American joint Pepsico.

    He has studied management course in the United States and came back to work in his family-owned business of bottling. Ravi also received the bottler of the year award by US President George Bush.

    Sunil Mittal

    Net Worth – 25,500 crores

    Sunil Mittal
    Sunil Mittal

    Sunil Bharti Mittal is also one of the richest people in Delhi. He is the founder and chairperson of Bharti enterprises. One of the flagship groups of the company is Bharti Airtel. It is the second-largest telecom company in India and has a customer base of 400 million people across the world.

    Sunil Mittal was also the Forbes richest person of India for some time and has also been awarded Padma Bhushan in 2007

    Vijay Sharma

    Net Worth: 23,000 crores

    Vijay Sharma
    Vijay Sharma

    Vijay Sharma is one of India’s youngest billionaires and an inspiration to many. He is the chief executive officer of Paytm. Vijay has studied engineering at the Delhi College of Engineering. He established the company One 97 Communications in 2000. One 97 Communications is the parent company of Paytm. He revolutionized the method of payment by bringing Paytm. The tagline he used to send payment was #paytmkaro. Today he is a role model for the youth as being one of the youngest billionaires in India.

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    Anand Burman

    Net Worth – 22,400 crores

    Anand Burman
    Anand Burman

    Anand Burman is a leading businessman and chairman of Dabur India Ltd. Anand joined the family business of Dabur in 1980. His company is a consumer goods company related to FMCG products. Dabur is a leading brand in India. Anand has a degree of doctorate in pharmaceutical chemistry from the University of Kansas.

    Munjal Pawan

    Net Worth – 22,000 crores

    Pawan Munjal heads the Hero Motocorp. He serves as the chairman, managing director & CEO of the company. Munjal’s Hero Motocorp manufactures affordable motorcycles for Indian people. He joined the company from Hero Honda Motors in 2001 and made the company grow. He successfully transformed it into Hero Motorcorp by 2011. Today Hero Motorcorp offers a huge variety of segments to its customers at a very affordable and economic cost.

    Kuldip Singh Dhingra

    Net Worth – 18,000 crores

    Kuldip Singh is the Indian Entrepreneur who is the chairman of Berger Paints Ltd. He started Berger paints with his brother in 1991 when he purchased the company from Vijay Mallya. He tells that the business of paints was in his blood as his grandfather was also in into paints business in Amritsar.

    V.C. Burman

    Net Worth – 17,000 crores

    Vivek Chand Burman is the former chairman of Dabur India Ltd. Vivek is one of the oldest members of the company. He joined the company in 1954 and was appointed as the chairman in 1998. Over the years he built the company strong and more reliable and because of health issues he retired and gave the position to his nephew Anand in 2007.

    Conclusion

    So, here was a list of the richest men living in the streets of Delhi with their amazing and lavish lifestyles. To sum up, these men have worked hard enough to achieve this success. Being in such a state is not easy but requires enough dedication, perseverance, and hard work. These men are a true inspiration, so start exploring more and more ideas and work hard so that you can come closer to your dreams.

    FAQ

    Who is the richest person of New Delhi?

    Shiv Nadar is the richest person in Delhi who has a net worth of INR 1,41,700 crores.

    Who is the richest man in India?

    Mukesh Ambani is the richest man in India with a net worth of $84.5 billion.

    Which is the richest city in India?

    Mumbai is considered as the richest city in India.