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  • Tips and Hacks which StartupTalkers used to Grow their Startups

    In order to scale a business, it’s important for entrepreneurs to market their products effectively. There are many challenges down the road. So, scalability is only possible with these best startup growth tips and hacking strategies. If you follow us on Facebook, you must be knowing how great our community is! We’d love to discuss about things related to startup ecosystem and share valuable insights with fellow Startuptalkers. Here is the list of successful startup growth hacks and tactics shared to grow their startups.

    In order to reach out to a massive audience, entrepreneurs need to adopt best growth Hacking Strategies for startups. We are sure it will help you to grow your startup as well. We will keep updating it with more and more upcoming hacks. Although some amongst these techniques have only been around for a few years, nonetheless, they prove to play a vital role in the growth of modern-day businesses.

    Startup Growth Tips from Professionals

    Innovate an existing product or service in your initial days, instead of presenting a super unique product. Ola’s concept was not new, however, they introduced the option of Auto rickshaw because it is what people of India wanted. – Varun Surana


    Automate the process of marketing. Although not all the marketing factors, you can hire someone for some aspects of marketing like social media marketing. However, you should still keep a track that what is happening in which field of your business. – Ishu Bansal


    Recruit the best people through LinkedIn. It makes sense because most of the professionals know the value of LinkedIn, and so all the decision makers are available there. If you are able to connect to just 2 best employees of a company and you research about 100 companies, you get 200 best employees. Having this many people professionals increase your success rate. Moreover, you can use this trick if you are new into hiring business. –Priyash Nigam


    Make a product which a small group of people will love to use. When you focus on the need of a community, you get your permanent clients. It is because people tend to use any product by watching others use it. Once you earned the trust of one particular group, they will tend to use it more as they will see other people in the group using it. – Donvon Urfaison


    Co-branding for marketing. However, you should never use this type of marketing with your rival (obviously) but neither should you co-brand with a diverse brand. You can see many products giving free products of their companies like with the bottle of some shampoo, you get hair straighteners. That’s the co-branding. The hair straightener company is not the rival of Shampoo company but still relevant to their industry which is Hair care industry. –Viswam Vemula


    Use barter deals in events. Barter deals are deals without the use of money as an exchange. You can provide free promotion on your website or social media. You can use this hack to get a place in professional events. – Raunak Agrahari


    Use memes for marketing. Memes are in trends right now and you can still use them for marketing. Moreover, you can use emotional videos for video ad campaigns. If you can someone laugh, you can sell your product to them. By laughing on something belongs to you, they tend to think about you. – Arpan Khosla


    Do not to register your startup unless you have your product ready. It’s really senseless unless you are getting a very big round of funding. But it is still advisable to make your product ready even before going to investors. Most of the investor like to invest in product and the team instead of just an idea and concept. – Ramamoorthy


    Get a serious reason get out of your comfort zone. External motivation is just Moh-Maya. Find your reason to do something. Without reason, you can never plan and never know your next step. – Manoj Kumar Sahoo


    Quote more price than your competitors if you are into digital marketing. Some experts advice to do it even if you are giving the same service as your competitor. Clients think that lower prices lead to bad quality of work, which is true most of the time. – Vikas Chauhan


    If you want to deep research about anything then connect to the people who work in the particular industry, which you are researching on, through Twitter. You can also go to NGOs or Government organizations for this matter. They are like mine of information.  – Indranil Deb


    No matter what people say, but looks matters. Especially the looks of the ad campaign of the business matters. Use bright colors to design your posters. Bright colors attract more people and market your product more efficiently. You can observe the posters of other companies to learn more.  – Abilesh Hope


    Get more work done through interns. It gives a lot of perspective on a low budget. Moreover, those interns learn to seriously work on real projects. Although some people think that interns will learn everything from the company and will start something same of their own. It is life and there is nothing like copying. There is only learning and implementing.  – Midhun Noble  


    Use high-frequency sound or buzz in the background to stay focused on the work. These sounds stop your sub-conscious mind from distracting you and you can fully focus on your work. – Ronakk B kakkad


    Use web.archive.org to get content of old websites which have already closed. Although it is not a great strategy for SEO it can provide you with some content which you can repurpose later. It will be great if you ask for the permission from the owner of the content first. –Shubham Kumar


    While writing blogs, research and target on the long tail keywords. The competition on long tail keywords tends to be lower than that of short keywords. Moreover, big popular blogs already cover the rankings of short keywords, so it is better to be at higher ranking with less traffic than lower ranking and still less traffic. – Pranav Parth Tyagi


    Ask the people for the opinions about your new product before launching it. Most of the time, the reality is totally different than we think it is. It is better to know their opinion at the starting and stop wasting time on the unprofitable product than losing your motivation by facing the failure. – Jatin Kumar


    Know your product in terms of exact outcomes it will give to the customers. It will help you to create advertisement campaigns. Moreover, it will also help you to pitch it better to both, investors and customers. – Varun Surana


    Focus on the operations of the company and improve it with the help of technology. You can also outsource any operation. Outsourcing is an economical way for business operation as you don’t have to spend time and money on recruitment and setup. – Varun Surana


    Invest in knowledge. You can get free knowledge from blogs and videos, but they can never compete with the books. Read just 5 pages every day. It is better to go slow than to never start. – Varun Surana


    Track the psychographic data of all your customers. It will help you to know the need of your customers and shape your product or service better. – Pranav Shandilya


    Craft a solution around solving a problem keeping the end user in the center. In simple words, research well before starting your business. – Pranav Shandilya


    Interact with your customers on a regular basis. It increases trust and improves the relationship. And trust is the only way to make anyone your permanent customers. – Pranav Shandilya


    Never get your work done for free, neither do it for free. Getting free service is ok when you are a consumer, but it is not healthy for business. Moreover, when you take free official service from anyone, their expectations towards you increases which is the only reason most of the relationships end up. – Mudassir SkSm


    Find the backlink sources while doing competitive research. Moreover, mirror their strategy. There many paid and free websites available on the web to do this. – Aditya Raja


    The only person who knows the best about your company is you. Write the articles for your company on your own. Do not outsource it. You don’t have to spend hours on it, just 2 to 3 articles per week. – Rakesh Sidana


    Chose your first few customers very carefully. These will be your best customers and your best marketers. – Arun Babu

    8 Tips to Stay Productive while Working Remotely
    Due to the drastic spread of novel coronavirus or COVID-19, companies are makingseveral efforts to keep their employees safe and maintain the productivity atthe same time. Most of companies have asked their employees to work from home[https://startuptalky.com/coronavirus-work-from-home/]. As majo…


    Try to genuinely help your audience. We published an explainer video for GST just to help people. In just somedays, we got 150k views and thousands of subscribers, even when we never planned anything like that. – Shubham Khandelwal


    Focus on the system of your company. Improve the system where your own interaction as a boss, gets minimized. Once you automate the whole process of the company, your company will start growing faster. – Sampathraj Mathurperumal

    Focus on your business rather than your investors. Clients are the biggest investors you can get. Work hard to improve their experience. – Nirav Shah


    Promise discounts on the next service instead of direct discount or freebies on the current service. It will bound your customers as they will think that they will miss the opportunity if they chose anything but you. – Prithpal Rawat


    Collaborate with other brands more often. It helps in growth and marketing. When you collaborate, their audience will get to know about you and your audience will get to know about them. This mutual interaction will be great for the business of both the collaborating companies. – Saqlain Shaikh


    Register an expired domain with good backlinks. They will benefit your SEO. However, research about that domain first as many time these are blacklisted domains and you can never rank them again. – Sahil Sharma


    Do not procrastinate the marketing. Start it from the first day using the existing network of the founders. Most of the time, entrepreneurs think to do marketing after launching the product. Marketing takes time. – Venkatrangan Gokul


    Always have a long and short-term marketing strategy. Having everything planned helps you to stay on track of your goal. You always know what you have to do next even if one plan is failed. – Venkatrangan Gokul


    Create one goal every month and dedicate time to focus on it. It is because most of the time when we see back at the activities of last month, we realize we did nothing productive. –Ramanathan Srinivasan


    Don’t shy to ask for help from anyone. Many failed entrepreneurs regret not asking for help from people. Even many of them didn’t even ask for it from their own investors. People love to help when they can. Even psychology says that asking for help makes other people start liking you. However, if they can’t help, don’t break your relationship with them. – Gaurav Gat


    Don’t build something if it is not on the top of the priority list of your customers. Otherwise, it will take a long time to sell them. – Gaurav Gat


    Even though Facebook is working hard to provide more relevant posts on people’s feed but you will still appear as noisy to many. So, create a go-to-market strategy and don’t rely just on social media marketing.  – Ajay Ghai


    You can track the success of your competitors if they are using bit.ly links. Just add “+” at the end of the link. However, many users hide their confidential data these days but you still can give it a chance.  – Shubham Kumar


    Plan things out but don’t overthink your idea. You never know what will work for you and what will not. Overthinking leads to dilution of motivation and dropping off the idea. –Gaurav Chopra


    Focus on earning a relationship with your customers instead of just earning money. Money is just a byproduct of your service, the main aim should always be the experience of your customers. – Gaurav Chopra


    If you can add value to your customer’s life, they will add revenue to your pocket. – Varun Surana


    Tell stories while pitching your product to your customers, investors or just hiring the best person. Let them know what they can get from your product or company through the story. –Harry Ven


    Don’t hesitate while sharing your ideas. Share your ideas in communities, people will give you suggestions and help to start and grow your business. Even if someone steals your idea, they will not get enough support of all those people as much you will get. – Aayush Kaira


    Even if you have enough funds to hire someone to do anything particular, try doing it yourself for some time. It will help you to guide other people better. – Harshit Baveja


    Be like Chinese Bamboo. Not just tall and strong but patient too. Chinese bamboo grows 80 feet tall in just 3 weeks. But, it waits 3 long years under the ground. What does it do there for that long? Well, it develops itself to really stand that long. Just like Chinese Bamboo, you should be patient to really see your startup grow. You have to develop yourself and your startup and its system to achieve your dreams and goals.  – Yug Jain


    Deal your customers with heart. Many times when people go to ask about products to make a better decision, they treat you like they are some celebrity. If you are not treating your customer like your boss, you will gradually lose your Boss’s position. For instance, when I called somebody to inquire about some program and asked “Can I have more information about this?”, they replied rudely saying that they didn’t have time send a write-up. Although they agreed to explain me in brief. They mentioned 2 points while they had 5 or 6 in their post. That was the moment they lost a potential customer and a lead.  – Aman Kapoor


    Add a  Live chat option on your website. It will help you interact with your visitor. Moreover, if possible try providing anonymous chat option where don’t have to give any information about themselves and still can chat with you. It makes them comfortable to chat with you because most of the people fear that if they give you their email address, you will start sending emails every now and then. Furthermore, there are many services available for this purpose.  – Jafar Muhammed


    Next time someone asks you, where do you see yourself in the next 5 years, just say that it is totally irrelevant. In the 5 years, Apple would have launched iPhone XYZ, Mi would be selling explosives directly instead of hiding them in their devices and so on. The main point is, the technology after five years will be totally changed and it will unlock much more opportunities for everyone. No one can say what they will become after 5 years. This question is totally illogical keeping in mind that 5 years ago, we were saving internet data by sharing files through Bluetooth and today almost everyone has a Prime membership and watch HD movies online.  – Deb Rishi


    Your startup might shut or perform terribly, but the main purpose of any startup is innovation. The innovation of the startup, your  “never give up” attitude and out of the box thinking will help you sail through the storm of failure. Keep learning and keep sailing.  –Sidharth Dugar


    You can fail but you cannot stop. You cannot just give it all up. Life is enough reason for waking up every day.  – Arhaan Arham


    SEO is totally different than you think it is. Reading about SEO on some blogs don’t make you an expert. SEO doesn’t socialize your content, sell your product or manipulate Google’s results instead they communicate your value, help you attract more buyers and make Google’s results relevant. Use it wisely, don’t try to blackhat everything. Be wise and Google will rank you.  – Shanu Singh


    If you really want your dream job or just any job, you have to work on your resume. Maybe, you are not applying for your dream job but the employers are searching for their dream employee, for sure. Consider these points while creating your resume:

    • Your career objective should be aligned with the job description of the company.
    • Add a segment and describe how you and the company can be a winning combination.
    • Be creative and display how you can add values to the company.

    Moreover, spend some time editing your resume and finalizing it. Make it unique which make an impression in the employer’s mind.  – Neeldeep Das


    Try to keep your LinkedIn profile up-to-date. Many people find partners, clients, or service providers on LinkedIn. When they will approach you and see your latest achievements, it will greatly impact them and the chances of generating leads increases.  – V SHiva Kumar

    If you are using LinkedIn just to randomly find people and cold messaging them to generate some leads, then you might be wrong here. There are very low chances that people will actually buy your product based on your pitching through a text message on LinkedIn. Try posting good content on LinkedIn. Make them helpful and enjoyable. People will start following you based on your content. This way, they will connect with you and you have more chances to generate leads.  – Shubham Kumar


    Do not boost your post to get more likes on your facebook page. The likes on your facebook page are nothing more than a fancy number. Most of your post never reach to those people who liked your page. The organic reach of the best of the pages has become negligible now. Even less than 10% people will receive your post in their feeds. It is senseless to spend money boosting your post to get more likes on your Facebook page.   – Ankit Shukla


    To all the content writers there:

    • Text consistency is important; you should not type the same word in different ways.
    • If using one-liner bullet points, you can skip using the full stop until the last line; the full stop can grab unnecessary attention and it provides breaks not needed.
    • Apostrophe marks should be preferred over quotation marks when pointing out to a subject that is a single word. Right below, see how the comma comes before the apostrophe mark is closed, but in the second sentence, the question mark comes in after. This is due to completing emphasis while keeping in touch with the flavor of the conversation.
    • If you copy and paste text from a website and paste it in Word, most often, you will find the font to be different; after you are done, paste everything into Notepad and paste it back into Word; consistent font, every time.
    • The replace feature is underrated; if you have a ton of editing to do, you can use it to replace a recurring mistake with the right word, rather than just manually correcting it over and over.
    • Your client sent everything in bloody CAPS LOCKS? Use Notepad ++ and paste everything there; once done, select everything (Ctrl-A) and press Ctrl-U. Every letter ends up as a lowercase.  – Anthony Stephen Mendes

    I think new entrepreneurs should spend 3-4 hours weekly on product hunt. You get to see new innovative and upcoming ideas, changing UI and UX patterns.  More Importantly, If you will read comments you will get to know people’s views and need. These Learnings you can apply your startup to make better products / provide better services.  PS: You also get discounts and offers from some startups! – Shubham Kumar


    62 Business Ideas with Low Investment and High Profit
    One of the most desired things an entrepreneur wants in business is a smallinvestment business idea and high profits. To achieve this, they sought everyway to make their business run smoothly and increase revenue thus profitability.If you land on this article chances are you are looking for Busin…


    These hacks were implemented and adviced by our amazing community members. Thank you to you all for joining our community and sharing your thought. The basically unique idea was given by our members however some editings were made by our writers.

  • Being A Rockstar In Your Company Is A Matter Of 10 Best Things Leaders Do Every Day

    Ever had a nerve that you want to lead your football team, or manage a startup, or just lead your project team. What all it takes is a, Leader. But you have to understand that you don’t need a name to be a leader. What binds a leader to themselves is leadership and remember this leadership is action taken, not a position. in times, where there is no leadershp , society stands still.

    The successful habits are the only key to great leadership. So, what’s the recipe for a great leader? I would say there’s no such formula but the 10 best things leaders do every day. Although great leaders are born in the past centuries what’s important is what could you learn from them. Because it’s said that “Leadership and Learning are indispensable to each other.”

    What Makes Leaders Different From Everyone?

    You might have seen in movies or if you’re in a corporate, that once The Boss enters the hall, the vibe sets up of the room and everyone stands or bows to greet him. Basically, what’s the difference between you and him/her? Because obviously they aren’t the son of God that you have to bow to them every time you see him. The difference is innovation, the motivation, the wisdom, and gratitude for working with a great team. Leaders don’t fail because of skills but most leadership failures are a matter of the heart.

    10 best things leaders must do to make a difference
    What makes Leader different from everyone? 

    I would start with a great example of Steve Jobs. He was one of the greatest businessmen and co-founder of Apple Inc. but the most shocking part was he didn’t know a single word of how-to code, but Steve Wozniak was behind all the programming stuff. And still, we all know Apple company because of Steve Jobs. In fact, it was Jobs’ vision that laid its steps on the path to success. He once said, “Innovation distinguishes between a leader and a follower” and we, too, agree upon this.

    And there’s a fun acronym to leaders with a HEART to do whatever they want to

    H – Hunger for wisdom

    E – Expect the Best

    A – Accept Responsibility

    R – Respond with Courage

    T – Think Others First

    What do great leaders do everyday | Habits of leaders

    10 Best things Leaders Do Every Day

    1. Promote Your Vision

    Always have a clear vision of where your company is going, in front of your team on a regular basis. Why do this and why not keep it to a smaller group of people! Because when you do this, you’re not only motivating them but also sharing the strategic goals so they connected to the work.

    2. Manage Priorities

    Wise-people always keeps a journal with them, the point of this is to keep your day in the record. The better you can prioritize the thing you’re going to do for the day, the better is the focus of the efforts on the tasks that matter most. Without the clarity of tasks, you’re going to end up wasting time and morning energy. So, better get a pen and paper and write them down!

    3. Delegate Tasks

    It’s a belief that leaders always want to do things for themselves, but learning to delegate when in need is very important. It not only controls your workload but enables your team to achieve goals at a speed of light. This produces better results and accomplishes more than ever could, on your own.

    4. Motivate Changes

    Change is the only constant in this universe. If your team is working on the edge, and your company is stagnant and stuck. There’s when the leader comes to play when a strong leader involves constantly and consistently motivating changes in spite of underlying risks.

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    5. Generate Urgency

    When you instill a sense of urgency within yourself, you motivate yourself to deliver on results. Without it, you may find yourself procrastinating, doing halfhearted work, and struggling to get tasks and projects done on time. Urgency is your best weapon against daily distractions.

    6. Communicate Effectively

    Good communication is key to everything, which is the bed-rock element for successful leadership. A follower would always look towards its leaders for a vision and direction. The communication factor not only builds a good bond between both but its seen the performance also gets improved eventually because communication brings clarity to everything the team needs to do.

    7. Listen Actively

    It’s important that you listen to everyone because active listening is the best skill you can cultivate. When you intentionally focus on what others are saying, then you follow up with open-ended questions: what, why, how, and when. You not only come up with great ideas but you move beyond your own point of view and you get a check on your own understanding for accuracy. There’s a famous saying by Benjamin Disraeli – “I must follow the people. Am I not their leader?

    8. Managing Risks

    The risk-taking opportunity is always not given to everyone and only a few can make it through them. Great leaders are always scanning the horizon for underlying risks as well as opportunities. Believe it or not, the art of constantly weighing costs and benefits, and putting everything on stake is not a cup of tea because prospective outcomes are always less.

    9. Act Decisively

    You have to control any impulse toward impatience and reactivity on one hand, and many other factors on others. You have to work hard to ensure that the understanding of the problem is complete, then only take strong action towards it and never look back.

    Ways of Building trust among the employees
    We all know how important is to build good relations and trust with clients[https://startuptalky.com/tag/clients/]. But it is also important to build trustamong the employees [https://startuptalky.com/tag/employees/…

    10. Empower Others

    Being a leader is a part of your job to help your team develop the top players in your industry. In fact, people grow when they own their decisions, hold themselves accountable for what they are doing, and experience the consequences of their actions. This is what you have to do, assign them what they are capable of, and bring out the greatness in them.

    A leader is a dealer in hope – Napoleon Bonaparte

    10 best things leaders should do every day
    The single biggest way to impact an organization is to focus on leadership development. – Jim Rohn

    What Else Can You Do To Make A Difference is:

    • Make people feel valuable
    • Make some time to connect more with your team
    • Be honest and straightforward even when the news is bad
    • Be accountable for your actions, even if it’s your team in it
    • Share the credit
    • Give praises, and do it more often
    • Delegate responsibility without micromanaging
    • Celebrate skills, and appreciate the talent
    • Challenge the status quo, and don’t settle for mediocrity
    • Invest in your team, and make them feel important
    • Encourage and inspire
    • Build team spirit, and encourage inclusiveness

    When you can do these days, you will be not only an effective leader but likely a successful one too. Leadership is what exactly binds a leader to be it, and not only that, leadership is the learned behavior that is automatic. They are enablers of talent and capabilities within a person because a person with a vision can obviously see what’s ahead.

    No matter what you begin with, because in the end, only a few successful leaders are able to sustain their successes’ with minimizing the upcoming risks.

  • 5 Reasons Why your Business Needs Business Consultant

    Most small business owners are highly skilled multitaskers but a startup consultant can advise you what to do and execute your plan into action saving you money and time with expertise and experience. Hiring a business consultant who can do the work and provide training on what needs to be done. Here we will discuss what does a business consultant do and why a startup needs a business consultant.

    Many businesses run into complications where they need external guidance. If you wait for longer, it may be too late. Business consultants in India can review your business plan, compare it with your goals, and suggest ways improve your chances for success. Benefits hiring a consultant who will be able to sustain and develop your business further and more.
    These are some key reasons why you need a Small Business Consultant to grow your startup or business:

    1. Expertise and Knowledge

    Consultants profit off of the fact that they possess greater knowledge. This means that they have developed larger skill sets and refined expertise on issues that managers may not have. This specialty comes with vast experience from multiple companies, which enable them to be able to draw trends, recognize work patterns, and common issues on a broader spectrum.

    Consultants have the extra qualifications needed to be able to critically analyze problems and implement practical solutions cost-effectively. There are many types of business consultants. You can find a consultant for each department ranging from marketing, operations, finance, strategy, and even IT consultant.

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    2. Creating a Strategic Plan

    One of the key services provided by startup consultants is strategic planning. Startup consultants help business through analysis, statistics, and strategy. A reason why companies hire consultants is that they plan critical steps for their business. Most startups don’t have a clear roadmap or objectives to begin things. It becomes one of the major hurdles for a startup’s growth. Thus, a startup consultant helps you devise a strategic plan and create a roadmap for your business.

    hiring a business consultant
    Benefits of hiring a Business Consultant

    3. Identify and Solve Problems

    Business consultants provide the outlook and perspective needed from outside the business. Internal teams performing analysis may often miss crucial details because it is difficult to be self-reflective to identify our own mistakes. Consultants are professionals at advising and giving suggestions for problem-solving in areas where managers are hesitant, confused, or at a dilemma.

    Business consulting services guarantee you experts who will help your business prevent tech problems from persisting and manifesting into larger, destructive ones. IT consultants are best at being able to quickly identify tech faults and suggest solutions to tackle them too.

    4. Save Time

    Managers of businesses are always bound on a tight schedule, and it is a studious job to try and give time to every single segment of the business. Due to this restraint, managers may overlook some elements that are damaging the operations of the business.

    However, startup consultants give out a helping hand to managers as well as the support they need. This enables managers to focus on the most important aspects and save a lot of time by having an ally to assist through any difficult phase of the business.

    10 Skills To Master As A Consultant | Become A Good Consultant
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    5. Train and Motivate Employees

    When a business is undergoing a decline in performance and sales, this has a negative impact on employees as they begin to slack further. This is because they feel threatened and anxious due to lack of job security and thus, feeds itself as a severe lack of motivation in employees. It can be difficult to manage such employees who are frustrated and are under pressure to perform well, which is not rewarding what they deserve.

    Startup consultants provide guidance and support to managers to be able to motivate and create reforms needed. They train employees in areas which they feel they require more development in, and this serves to bolster confidence and overall morale of the workforce.  

  • 5 Best Investment Options For Retirees

    Putting funds into risk-free speculation choices is as significant as having a different venture portfolio.

    When paying attention to contributing, the profits produced from your speculations can give money related steadiness later on.

    The investment can give money related security and pay one in great heights in later stages and that is the major reason for thinking of investment option after retirement.

    Fixed Deposit

    For senior residents, Fixed Deposit(FD) is one of the most widely recognized budgetary instrument to put away their cash. They want to contribute a lot of their cash in bank FD’s because the primary venture sum is viewed as more secure when contrasted with interests in value and the previous likewise offers guaranteed return as interest. And often times this is the only investment portfolio for 70 year old people. They usually prefer investment in Fixed Deposits because of tax exemption under Section 80C.

    Normally, senior residents open an FD account with the save money with which they as of now have their current bank account. Be that as it may, it will request that you complete your Know-Your-Customer (KYC) process. You will be required to give a self-validated duplicate.

    Some Interesting Facts about Fixed Deposit

    • Senior residents are normally offered higher loan costs when contrasted with the overall population. By and large, banks offer a 0.50 percent higher interest rate. Senior residents can pick whether they wish to get customary intrigue payouts i.e, cumulative or non-cumulative interest rates.
    • There is no restriction on the most extreme sum that you can put resources into an FD.
    • Banks have characterized a period including min and max for which FD record can be opened with them. Normally, one can put money into an FD for a base 7 days and a limit of 10 years. You can pick the period inside this range as per your requirements.

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    Retirees often don’t know where to invest retirement money ? However, apart from FD’s, there are other safest investments schemes too where you can invest your money.

    5 Best Investment Schemes

    1. Post Office Monthly Income Scheme

    This is the best reserve funds plot that empowers you to invest a limit of Rs.4.5 lakh for single possession and up to Rs.9 lakh for joint accounts.

    This month to month salary plot in India offers you a loan cost up to 7.6%, according to rates declared in Q2 2019 out of a plan that is known to offer dependable returns, however, the pay is available.

    SCSS is an excellent plan for senior residents who need a not too bad hazard-free profit for a corpus subsidize.

    The post office offers different sorts of store plans for those hoping to contribute. These plans are otherwise called little reserve funds plans. A portion of these plans, for example, NSC, SCSS, and so on additionally offer expense sparing advantages under charge 80C of the Income-charge Act.

    So this scheme offers tax-saving benefits too under section 80C of the Income-tax Act.

    The interest rates  are amended every quarter by the government with a lock-in period of 5 years for the principal allowing pre-mature withdraws after a year. The Maximum amount invested is 15 lakh.

    Best Business you can start with 1 Lac and less[50+ Ideas]
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    2. Mutual Funds (MF’s)

    At the point when one resigns and there is a probability of the retirement reaching out for an additional two decades or progressively, at that point contributing a bit of the fund in mutual funds expect significance.  

    Best Investment Options for Retirees
    Grow with Mutual funds

    MF’s can likewise be a piece of a retiree’s portfolio. Tax collection from debt fund settles on it, more than normal deposits, particularly for those in the most elevated or high-income society.

    3. Tax-Free Bonds

    Tax-exempt securities, even though not as of now accessible in the essential market, can likewise highlight in a retiree’s portfolio. They are given principally by government-supported organizations, for example, Indian Railway Finance Corporation Ltd (IRFC), Power Finance Corporation Ltd (PFC), National Highways Authority of India (NHAI) One, they are long haul speculations and full-grown following 10, 15, 20 years.

    5 Best Investment Options for Retirees
    Investment options for retirees

    4. Public Provident Fund (PPF)

    There are two explanations behind this: its tax-exempt intrigue and the annual compounding rule. Since the PPF has a long residency of 15 years, the effect of compounding is tremendous, particularly in the later years.

    Further, because the premium earned is assured by sovereign assurance, it makes it safe speculation. For example, retirement PPF is a debt item and it produces an income flow.

    5. Pradhan Mantri Vaya Vandana Yojana (PMVVY)

    PMVVY is for senior residents matured 60 years or more to give them a guaranteed return of 7.4 percent per annum. The plan offers benefits salary payable month to month, quarterly, half-yearly, or yearly as selected. The base amount sum is Rs 1,000 every month and most extreme Rs 9,250 every month. The greatest sum that can be put resources into the plan Rs 15 lakh. The residency of the plan is 10 years. The plan is accessible till March 31, 2023.

    This is a plan offered by the Life protection Corporation (LIC) of India.

    So, these were some of the best short term investment options for retirees. However, the considering any of these is totally depends upon the capacity of risk taking power of the individual as some of the schemes are subject to market forces.

  • The A-Z Guide of How to Hire A Freelance Graphic Designer

    Whether it is for designing the business logo, creating a brand identity, designing your regular templates, packaging, or website, business services today, often require the services of a graphic designer. A Graphic Designer comes under the graphic design and arts industry who collects images, typography to create a piece of design.

    Most of us shy away from hiring a professional designer, often underestimating the job at hand, it is fair enough to proclaim the difference a generous dose of creativity and good design can make to your business.


    Why Hire a Freelance Graphic Designer?
    Points to keep in mind while Hiring Freelance Graphic Designer

    How to Find a Freelance Graphic Desginer
    Pros and Cons of Freelance Graphic Designer
    Conclusion


    Why Hire a Freelance Graphic Designer?

    According to Upwork and Freelancer website, 63% of freelancers in the US choose a work-from-home career over traditional jobs. So if you intend to use the visual media to grab eyeballs and let the content do the talking, you need to find the right graphic designer. Before you hire a Freelance Graphic Designer, you have to specify your needs for hiring them. You should know:

    • What you need to be designed (website, logo, poster,etc.)
    • The look and feel, anyone (including you) going to have.
    • The basic elements of your brand identity.

    You should have a vision in your mind that you want your designer to bring forth. Before hiring a designer, you need to be clear about what you want from your designer. A graphic designer will create a completely different design if your target demographic is children than they would if you are going to target seniors. So, knowing your audience and explaining it to your designer is the key to your success.


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    Here comes the time to hire a Freelance Graphic Designer. A Freelance Graphic Designer will work remotely on a project by project basis for clients who will approach them for their service. How do you learn the nuances of hiring a freelance graphic designer? Take a look.

    Points to keep in Mind While Hiring Freelance Graphic Designer

    1. Keep Contact with your Designer

    Hire a Freelance Graphic Designer and keep in touch while working.
    Hire a Freelance Graphic Designer and keep in touch while working.

    Once you have decided which designer you want to work with, its time to make contact. Reach out and let them know that you are interested in working with them. Give them the structure of your project and ask them whether they are available or interested in working for them.

    2. Negotiate Pricing Before Working

     Hire a Freelance Graphic Designer, who can work on a negotiated pricing.
     Hire a Freelance Graphic Designer, who can work on a negotiated pricing.

    Once your designer has let you know that they will work for you. The next question is to ask them for rates or share your budget. But before you ask this question, it is important to have a clear understanding of market rates for different Graphic Designer projects. When it comes to pricing, there is no one-size-fits-all solution. Fair rates are going to be dependent on your designer, their experience, the scope of the project, and competitive rates in their market. Ask your designer about their rates, compare it to your budget, and then come to a number that fits for both of you.


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    Let’s start with a question, how do you rate your communication skills? And doyou know in between good communication and bad communication lies several jobsthat you could have bagged and had you paid a little attention to the somethingas basic as the way you talk? The point is that one of the bes…


    3. Have a clear Job Description

    Job Description – Details about the company. Who are you? What does your company do? What previous projects you have undertaken? What are your goals and vision? Build a background for the designer to work with, instead of straightaway moving to the work at hand. Are you looking for any specific professional experience or a particular set of skills that the applicant must consider while applying for the job? Are there any project deadlines that need to be considered? Jot down your preference criteria while selecting the right freelance designer and make a list of your requirements (if any) accordingly.

    A design brief is a specific description of what all is required of your job applicant. It includes all that needs to be done, what is expected of the design result, specifics to keep in mind while designing, and all the other relevant information that your graphic designer would need, before getting down to business. You may think the design is a fairly ambiguous area, but that’s just not so. Here’s the breakdown, a good design brief will give you good results. If you are still confused about how to frame a design brief, take a look at this blog. Hire the right freelancer.

    4. Check the Skill Set

    It is obvious, that each designer comes with his or her unique skill set, working style, and experiences. The question is, how to find the one who not only ‘fits the bill’ but also carries the necessary skills to deliver great results? Here are some of the points you should consider before coming to your conclusion. Software expertise Understanding of color psychology Ability to illustrate Typography and Lay-outing skills Experience of working for different platforms Design portfolio and work experience.

    5. Conduct an interview

    Conducting an interview has its own merits. Many companies, these days, prefer interviewing the potential candidates over the phone or via Skype. By conducting an interview, one can decide if the candidate seems passionate enough to do the job, besides acknowledging their personality and desire to give their best.

    Ask your prospect designer of his or her favorite/most recent projects, and how much time they require for a particular project. Once you’re familiar with their working styles and their approach towards work, it would be easier for you to ascertain if the candidate is, indeed, the right choice.

    6. Things to look out

    When you find a good designer you will be very eager to work with them. But don’t let your eagerness make you turn a blind eye to any future threats. If your designer takes days to complete your project, asks for the entire project fee before starting their work, refuse to give references or samples, or makes you feel uncomfortable, that’s not the designer you should work with. Any threats you notice in the beginning before you actually hire them are only going to get worse once you start working together.

    7. Make A Contract Before Working

    Hire a Freelance Graphic Designer and make A Contracts Before Working.
    Hire a Freelance Graphic Designer and make A Contracts Before Working.

    There should be a contract between you and your designer, it protects both parties during and after the project. When you work with the freelancing sites the contract is always taken care of, but if you’re writing a contract on your own, be sure to include:

    • The timeline of the projects including all relevant details.
    • How many edits are included in the project fee
    • Pricing Terms
    • Any Confidential Rights
    • Before you get started, both you and your designer should sign off on the contract.

    How to Find A Graphic Designer?

    It’s an era where the internet rules and needless to say, there are several websites out there that can help you find a graphic designer. Websites like Fiverr, Upwork, Freelancer, and Toptal exist just to freelance, offering a common platform for freelancers and recruiters to connect. 61% of freelancers specialize in 2 to 3 skills.

    It must be mentioned though, that most of these websites are open platforms that do not screen their applicants and hence, may lack the candidate’s authenticity and quality. This means anyone can sign up, make a profile, and apply for the job and you may end up with an endless volume of job applications. Here is a list of some of the best freelance sites for graphic designers like Fiverr, Upwork,99 Designs, and Freelancer.


    12 Best Websites to Find Freelance Work Online in India
    Join Fiverr For Free[https://track.fiverr.com/visit/?bta=122424&brand=fiverrcpa]


    Pros and Cons of Freelance Graphic Designer

    There are certain things to keep in mind while hiring a freelance graphic designer. Freelance graphic designers come with their pros and cons.

    The Pros are:
    • They get paid on a project by project basis.
    • Can be hired for each project according to their specialization.
    • Can be hired whenever you have design needs.
    The Cons are:
    • Won’t be so familiar with your brand, so you need to tell them about your brand.
    • Won’t be available to come to an important meeting.
    • It takes time to find the right freelancers for your company or brand.

    While one gets the liberty of employing highly specialized people, different for each project or, based on one’s design needs, it also takes a fair amount of time and effort to find and employ the right one.

    Conclusion

    A key point that should be taken care of is that it is important to develop an understanding between yourself and the designer. Collaboration is the key. The designer’s point of view might be different from yours. Determine his or her interpretation of your design brief, then explicitly express everything that is required of the designer, in the final design. So now that you know what to keep in mind while looking for a graphic designer, remember to keep an eye out and trust your instincts. Happy hiring!

  • How to Set Up a 401k Plan for Small Business with Minimal Stress?

    A 401(k) plan is a retirement option sponsored by employer to help employees contribute pre-tax dollars to their accounts. As a result, the contribution reduces an employee’s tax liability while letting them save for retirement. When the employee reaches a certain age, they receive distributions from their account. Some of the responsibilities you have as an employer is to set up a 401k plan, whether running a large or small business.

    Devising the best 401k plan for small business with employees is an excellent compensation package, and there are various types of 401k plans for small business owners you can choose to work with. For small businesses that want to help their employees save for retirement, the IRS website provides the guidance for actions you need to set up a 401(k) plan.

    This article covers a step-by-step guide on how to set up a 401k plan for small businesses.

    1. Decide on who will Establish and Maintain the plan

    As a 401k plan administrator, you need to decide who will set up the plan. You might want to set it up on your own or ask a professional or financial institution to do so. These institutions could either be a mutual fund provider or an insurance company.

    If you set up the plan yourself and maintain it, it will be more cost-effective but can be time-consuming. It is advisable to weigh the pros and cons of seeking the assistance of a professional or financial institution. In most cases, it suits you better to delegate such duties to expert financial advisors since they experienced in doing it.

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    2. Have a Written Plan Document

    If you plan to establish and handle this personally, you should have a written document that contains all about your plan. If a financial institution or professional is developing and managing the policy on your behalf, this should also include a written plan.

    This document is a legally binding document that contains all the terms and conditions of your 401k plan. So if you do not fully understand the terms, it is best to consult specialists who would assist you in identifying the inclusions of the plan.

    The best 401k providers for small business should educate you on the proposed plan. This document should contain the type of 401k plan you will be working with and its features (contribution amounts and employee eligibility).

    3. Set up a trust for Assets & reliable Recordkeeping System

    Setting up a trust for the plan’s assets ensures that the funds in the 401k account are used only by its beneficiaries. You need a trustee that would handle contributions, distributions, and structure investments.

    Also, you need to get a reliable recordkeeping system to monitor the contributions, gains, and losses, plan investments, distributions as well as general expenditures. If you want to outsource the handling of the 401k to a financial institution, they will manage the recordkeeping. Furthermore, systematic recordkeeping is crucial for annual financial reports.

    4. Decide the Eligible Employees & Inform them

    For many plan designs, you must notify eligible employees about the 401(k) plan. Your employees need to know the plan’s information, such as benefits, rights, and features. Create a summary that would contain information on employment eligibility and distributions, contributions.

    Employees must be informed about 401k plan and its features 30 days before it goes into effect. Also in future, you might also need to give notice of any changes. A summary plan description serves as the primary way to share information about your plan and its benefits to your employees.

    MSME Loan- Register your Business for MSME in 9 Simple Steps
    MSME (Micro, Small and Medium Enterprise), loans are mostly offered to start-upsand small business owners. In this intense moment of lockdown, many startups andsmall businesses are incurring a huge loss, the government offered assistance byrolling out MSME loans for startups and small business ow…

    5. Keep eye on Compliance Deadlines

    Keep in mind that starting a 401k plan for small businesses has its responsibilities, but the benefits are worth it. Offering a 401k plan doesn’t mean “set it and forget it”. It needs regular upkeep and a close eye on 401(k) plan compliance deadlines so that you don’t run afoul of ERISA and IRS rules.

    It must be remembered that there are some recurring employer responsibilities even after starting a 401(k) for a small business. Your company needs to regularly review or revise your plan features as the company’s situation changes. Depending on your selected type of 401(k) plan, you will need to make employer contributions, report plan information, and keep up with fees.

  • How Do Artists Make Money From Music Streaming Services?

    Some artists and musicians don’t believe in earning money through their arts. On the opposite end of the spectrum, you have individuals who have monetized their creative skills. Music streaming is one such domain which allows artists to earn income.  If you want to know how music streaming services enable artists to make money, then this post is for you.

    The global music streaming market experienced its fourth consecutive year of growth in 2018, generating over $19 billion in revenue. Music streaming now accounts for almost half of that revenue with 255 million paid users worldwide.

    The Music Streaming Industry Revolution
    Growth Of Streaming Apps
    How Do Music Artists Make Money?
    Innovations And Music Industry

    Music Streaming Apps
    Music Streaming Apps

    The Music Streaming Industry Revolution

    A complete transformation in the streaming music industry began with the launch of Spotify, the music streaming Stockholm based startup. Spotify came into being on October 7, 2008, at a when music streaming was considered as the consumers’ wildest dreams and only accounted for 1% of the global music sales.

    By 2013, Spotify had almost 30 million active users along with almost 8 million premium subscribers.

    The digital music industry now rests in the hands of Apple Music and Spotify, and has become a mega contributor to the revenue generated in the music industry. This research was conducted by the Wall Street Journal.

    The data included paid as well as streaming subscriptions; it also reported a jump in subscriptions for both apps by 31%, which equated to 62% of the industry’s total gross revenue. In 2019, Apple and Spotify reported an 18% shift in revenues valued at 5.4 billion dollars.


    Also read : How To Make Career In Music Business


    Although most of it came from music streaming, physical media sales also went up unexpectedly. Both vinyl and CDs saw a massive jump in sales in the past few years.

    Still, this notable increase in physical media sales can’t compete with the music streaming force industry, an area backed by artists like Taylor Swift, Ariana Grande, and Drake. Although these artists aren’t paid huge in music streaming, an appreciable segment of their customer base relies on music streaming.

    Growth Of Streaming Apps

    How Music Steaming Industry Earn Money
    How Music Steaming Industry Earn Money

    Physical music services, in the form of CDs and similar mediums, were the primary source of listening to music till early 2000s. With the advent of iPhone in 2007, the availability of high-speed internet, and a more digitally inclined crowd, these physical mediums started declining from 2008.

    The launch of Spotify and other audio streaming services launched at nearly the same time got a major boost; people were exploring the wonders of audio streaming. And with the emergence of 4G, better smartphones, and everything transitioning to cloud, these streaming apps are now mainstream. The younger generation is now addicted to music streaming and can’t survive without it.


    Also read : Spotify: A Beat for Everyone


    How Do Music Artists Make Money?

    Artists make a lot of money. How? Almost 70% of their revenue comes from online subscribes as well as advertisements.

    The allotment strategy adopted is pro-rata allotment in which a fixed percent is allocated to the artists out of the total streaming base (in the form of royalties). However, artists and musicians desire the payment to made on the basis of who the audience likes and listens to the most. Deezer, a music streaming app, is pushing for this change and pressurizing the big giants to do the same.

    How To Make Money From Music Streaming

    Also read : Apple Acqui – hired music analytic startup


    Innovations And Music Industry

    Inventions and innovations are the part and parcel of every industry. The growing competition is encouraging a huge transformation in the music industry. The newest innovations emphasize on understanding the listening habits of an individual and directing them towards tailored recommendations.

    The new era is about competition between Netflix, Amazon Music, YouTube music, Spotify, and others. Spotify took a major step in acquiring Gimlet Media, taking the initial step towards original content. The acquisition is also a way to recover the lost revenue by enabling more music platforms for streaming coupled with hiked subscription rates.

    The connection and intimate bonding with listeners has become stronger with the launch of live streaming. Music is now not just about pleasure and enjoyment, but a platform to make money. These streaming platforms continue to provide more avenues to musicians, a medium to be in front of appraisers and audience with some help from tech giants.

  • Master the Art of Ad Placement with these 6 Tips

    Ad placements are really important to grow your website including profit. and Finding the right Ad placement can be tricky. Each website is unique so monetization techniques cannot be standard for every website. Finding the best ad placement is all about personalization. It is important that you find out what works for you. It is no rocket science to place your ads but you do require some data and knowledge to place ads perfectly.

    What is Ad Placement?

    Ad placement is an ad unit or group of ad units used to specify areas on the publisher’s website where advertisers are entitled to place their ads.

    Common ad placements include:

    • Headers and footers
    • Sidebars
    • The beginning middle, or end of articles
    • The beginning middle, or end of videos

    Why is Ad Placement Important?

    • Ad placement can identify better audiences
    • Correct Placement of the ads can change the click-through rates (CTRs)
    • Ad placement improves brand awareness
    • Ads can be targeted to a particular audience
    ad placement
     Online media purchase inspiration Statistics

    6 Tips for Best Ad placement on your Website

    1. Your Revenue Model is Important

    Your revenue model is essential to determine your ad placement strategy. If you practice the CPM ad model then work on your impression number and Ad quality. If you employ a CPC model then your strategy should be focused on improving your Click through rates. If you operate both CPC and CPM then prioritize the model that brings in more capital.

    CPC – CPC stands for Cost per click

    CPM – CPM stands for cost per 1000 impressions

    2. Traffic Analysis

    Before placing Ads understand you audience. Check your monthly users and page views. You can also use tools like Google Analytics to check which country is offering the majority of traffic. Focus on the region that offers maximum traffic to your website.

    ad placement
    Google Analytics

    3. Seek Guidance from Google

    Google can improve your Ad placement strategy. The quality content offered by Google is the reason it’s still an industry leader when it comes to tech. It has the largest database of sellers and buyers from around the world. The enormous data provided by Google should not be overlooked.

    google ad
    Google Ad Viewability 

    Ad sizes and display layout marked as most common by Google

    • 300 x 250 – in feed between on content on desktop webpage
    • 728 x 90 – on leaderboard with/under logo
    • 300 x 600 – sidebar sticky on desktop webpage

    Don’t forget to check the ad viewability standard adopted by Google.


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    4. Testing is the key to Best Ad Placements

    While testing your ads customize your ads in numerous ways. You can take the help of several tools available such as Google Ad Manager offers A/B testing experiment. You can also employ third party testing apps to test placements for various webpages.

    A great tool that can help you find the highest engagement is the Heatmap tool. No Ad placement can guarantee you success in ad revenue, so keep trying different combinations.

    best ad placement
    Heat Map Analytics Tool

    Here are some of the Top Analytics Tools for SaaS that can help you improve your website.

    5. Balance your Ads between ATF and BTF

    There are two important aspects that you should acknowledge while placing ads on the website is ATF(Above the Fold) and BTF(Below the Fold). Above the folds are more effective ads because they appear to the users without scrolling.

    It is not advisable to overpopulate ATF ads for better impressions. Nor push all your ads below the fold where they are unseen by the users. Remember users start scrolling as soon as the page loads so these ads should appear on users screen as soon as possible.

    6. Video Advertising

    Many marketers are planning to add video advertisements to their content strategy. Investing in video advertising is a great move as reports show that video advertising gets better user engagement. You can test options like out-stream video ads that can be run using VAST and VPAID services.

    Ad placements get better by experience so go with the best performing ads on your website. Understand your Audience and analyze your traffic effectively. Generate reports of your existing placements and their performance. It is important to find out what works for you rather than what works for others.

  • Register your Business for MSME in 9 Simple Steps

    MSME (Micro, Small and Medium Enterprise), loans are mostly offered to start-ups and small business owners. In this intense moment of lockdown, many startups and small businesses are incurring a huge loss, the government offered assistance by rolling out MSME loans for startups and small business owners. After this news, many startups and small business are working hard to get there business registered to this loan.

    What is MSME Loan?

    MSME loan is an unsecured loan defined by the Indian Government and RBI, that is provided by various financial firms to startups and small businesses on a short term basis.

    You are eligible for this loan if Your business is involved in either of the two classes—the manufacturing or service sector.

    For investments in the manufacturing sector:

    • Micro – Less than Rs.25 lakh
    • Small – More than Rs.25 lakh and less than Rs.5 crore
    • Medium – More than Rs.5 crore and less than Rs.10 crore

    For investments in the service sector:

    • Micro – Less than Rs.10 lakh
    • Small – More than Rs.10 lakh and less than Rs.2 crore
    • Medium – More than Rs.2 crore and less than Rs.5 crore

    Financial Documents Required

    • Identity proof (PAN card, Aadhaar card, Voter’s ID, passport, etc.)
    • Residence proof
    • Business address proof
    • Balance sheets for the last three years
    • Income tax returns
    • Sales tax returns
    • Projected balance sheets
    • Project report
    • Photocopies of title deeds/lease deeds offered as primary and collateral securities

    Here’s some information you may be asked to include in your application form for an MSME loan:

    • Application date
    • Name of the enterprise
    • Registered office address
    • Address of the factory or shop
    • If the enterprise belongs to SC/ ST/ OBC/Minority community
    • Telephone number
    • E-mail address
    • Mobile number
    • PAN Card number
    • Constitution (proprietorship, partnership firm, private limited company, limited company, cooperative society)
    • Date of establishment
    • State where the business is located
    • Branch where the business is located
    • Name of proprietors or partners or directors along with their age, academic qualification, address, telephone number, and experience
    • Existing activity
    • Name of associate concerns and nature of the association
    • Mention the existing credit facilities, if any
    • List out the proposed credit facilities

    How to Apply for an MSME Loan in 9 Simple Steps

    1. Visit udyogaadhaar.gov.in website. This is a national portal for registration of Micro, Small & Medium Enterprises.
    2. Fill in the information like Aadhaar number, Name of the Entrepreneur. Once you enter all the details click on validate and generate OTP.
    MSME loan
    Registration for MSME loan

    3. You will receive an OTP on your mobile number which is linked to your Aadhaar card. After you enter the OTP click on validate and an Application form will appear.

    4. Fill in your personal and professional Details.

    MSME loan
    MSME Details

    5. After Registering Different types of loans will be shown. Click on apply Now on the loan you require for your business.

    MSME loan
    MSME different types of Loan

    6. Once you enter the loan amount Fill in information about your business to proceed further

    MSME loan
     MSME Business information

    7. Fill in your personal information

    msme loan
    MSME loan Other information

    8. Attach the Documents Required such as Aadhar card, Address proof, KYC etc.

    9. Once you complete the process, a Declaration form will Appear. Click Agree on declaration form and you will be successfully registered for MSME loan.

    An application number will be provided to you keep that application number for further reference.


    Also read:

    How to Pitch Investors for your Business | Mistakes to Avoid


    Now two enterprises fall under the MSME category:

    According to the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 enacted by the Government of India, the Micro, Small & Medium Enterprises (MSME) are categorized into 2 classes – Manufacturing and Service Enterprise.

    Enterprises with Rs 1 crore investment and Rs 5 crore turnover would now qualify as micro enterprises.

    Businesses with an investment of less than Rs 10 crore and turnover less than Rs. 50 crore will now be classified as small enterprises.

    The definition for medium enterprises has been revised upwards to an investment of Rs 50 crore and a turnover of Rs 250 crore.


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    Top Banks offering  loans with interest rates


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    FAQ About MSME

    Do all banks offer MSME loans?

    All private and public sector banks in India have objectives prescribed by the Reserve Bank of India (RBI) for lending to the MSE sector. Under these guidelines, domestic stated commercial banks (except small finance banks and regional rural banks) and foreign banks with more than 20 branches will allocate 7.5% of their Adjusted Net Bank Credit (ANBC) or credit equal to the amount of off-balance sheet exposure, to the micro enterprises sector.

    I am an MSME entrepreneur. Will banks extend any guidance to me besides offering me a loan?

    Yes, entrepreneurs in the MSME sector can avail the listed  services offered by banks:

    • Financial literacy and consultancy support
    • Rural Self Employment Training Institutes (RSEITs)

    What happens if I fail to make the payment for my MSME loan on time?

    In cases where the buyer is incapable to pay the supplier, he/she shall be liable to pay compound interest with monthly rests to the supplier on the amount from the appointed day or on the agreed day, at 3 times the bank rate declared by the RBI.

    Are there any guidelines laid down by the RBI regarding interest rates on MSME loans?

    Yes, RBI has advised all banks to rate the interest rates on MSME loans only regarding the base rate to enhance transparency in lending rates.

    This was your complete guide about MSME, if you have any further query you can visit your nearest bank branch and inquire about MSME.

  • How to Organize Employees with Office 365 Timesheet App?

    Organizing employees is the core of managing every structure within a workspace environment. Microsoft research states that up to 80% of company time is spent on collaborative projects. Due to coronavirus pandemic, most of the employees are working from home. Thus, coordinating multiple individuals and checking up on their tasks becomes tedious, inefficient, and time-consuming. Luckily, Office 365 Timesheet is a productive way of tracking hours spent by your employees on all tasks under different projects within your SharePoint environment. Here we will discuss how to use Office 365 Timesheet to track employees’s time and get the most of it.

    Managing employees, working remotely, is not an easy task. When team members aren’t on the same page, quality of work suffers, timelines get stretched and quality of work suffers. But there are many employee time tracking software available. These time tracking tools have improved how people work because communication has become significantly easier, quicker, and accurate than ever before. But office 365 time tracking app is not only easy to use but provides efficiency if used properly.

    The Office 365 Timesheet App is the best timesheet app taking the storm in many corporations to support the managerial system and make their job easier. If you’re looking to install this app for personal projects or on a large-scale office basis, this guide will walk you through how you can best make use of the Office 365 Timesheet App.

    simple timesheet template
    Timesheet template in Office 365 Timesheet App

    Office 365 Timesheet App works with SharePoint 2013, SharePoint 2016 and SharePoint Online (Office 365). It is a productive way of tracking hours spent by your employees on all tasks under different projects within your SharePoint environment.

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    Office 365 Timesheet app Features

    • Create unlimited projects and tasks.
    • Ability for employees to create tasks under existing projects.
    • Employees can record daily work hours on tasks and submit timesheets weekly.
    • Ability to modify timesheets before submission.
    • Managerial approval of timesheets.
    • Detailed reporting for managers and administrator with billable and non-billable filtering.
    • Project and task specific reporting.
    • Email notifications following each transaction.
    • Modification and re-submission of rejected timesheets.
    • Email notification on submission and approval/rejection of timesheets.
    • Previously rejected timesheets can be corrected by employee and resubmitted quickly.
    • Compatible with Internet Explorer, Edge and Chrome browsers.
    • Advanced features and dedicated support with Office 365 Timesheet Pro.
    • Mobile device app for both Android and iOS.
    free online timesheets for employees
    Employees role entry in Office 365 Timesheet App

    Lets see how Office 365 Timesheet App works:

    Division of Tasks

    Each employee is given a specific user ID. As a manager, you can visually see which employee is responsible for a certain task and the due date on which they must complete it. When different tasks have different due dates and assigned to different people, it can be frustrating trying to chase down people on whether their assigned job has been completed or not.

    free online timesheets for employees
    Alert reporting for Due Date

    This app saves you a lot of time and effort as it sends you a notification to remind you when to expect work done. Employees can also simply log that they have completed their assignment to notify you. One of the best advantages of the timesheet app is that you can see all of the tasks in process at once, and this helps to manage multitasking without confusion and error. For this, there are free timesheet templates which can be used in the app.

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    Employee Time Tracking

    Time is a valuable cost. Mismanagement of time and sick leave abuses can be troublesome as they can cause delays in projects and frustrate customers. Every organization makes it their aim to manage its projects on time for maximum efficiency.

    Using Office 365 Timesheet app, employees can track their daily work hours on tasks and projects created by the admin. On the other hand, the assigned manager can review and approve the timesheets submitted by the employees every week or month. Easy reporting allows managers and administrators to generate and export reports for easier invoicing.

    monthly timesheet template
    Time analysis in Office 365 Timesheet

    By time tracking, you can be sure that there aren’t any employees who are slacking. With numeric statistics, it becomes easy to identify which employees are working competently on time versus those who may not be meeting the required standard. Therefore, timesheets provide the ultimate solution to track many employees.

    Manager Approval

    Studies have shown that two-way communication in an organization results in employees who are more likely to finish tasks with fewer errors and also have greater motivation. Employees can always be informed of where they stand as managers can simply approve, reject, or add comments to submitted timesheets.

    Calculate Payroll

    By ticking which timesheets are billable and not billable, this makes it easier for you to easily be able to calculate how much you need to pay your employees. This also allows you to keep track of payments accurate to the number of hours worked and especially for employees need to be paid for overtime.

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    Install the Office 365 Timesheet and explore all its features today.