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Best Ways To Travel The World With A Full-Time Job

If the lives of wandering Sufi dervishes and Buddhist monks inspire you, the daily 9-5 work schedule bores you and you wish to travel the world while earning money. Unfortunately, not all of us are gifted with an enormous fortune that will allow us to see the world without worrying about how to pay for it. You need some means to keep travelling. There are various traveller job which you can easily do and still travel the world.

Now before we start with the kinds of jobs you can take up while travelling, we need to understand the difference between finding a job to travel and a job that requires you to travel.

In the first case, almost always the person wants to travel and finds a job to make it happen. It may not always be the case with the latter one. It’s great if you are a traveller by passion and you find a job that requires you to travel but oftentimes that doesn’t happen.

If you are a traveller and you need a job to keep your pockets full.

These kinds of jobs are usually very varying and require different amounts of skills. They can be super casual like house-sitting, working on an organic farm or a hostel in return for free accommodation and food.

Below we have listed some of the ways of how to travel the world while earning money

Travel Blogging

Most of the travellers these days maintain a blog page of their own and try to keep it as attractive and updated as possible. Starting as a blogger can be tough and trying as it takes time before some real cash flows in, but if you keep trying and keep it good then it might become one of your best-earning sources in the future. This is the best traveller job and a nice way to travel the world and have a full time job as blogging.

A travel blog needs to be updated regularly. Your content should be rich, interesting and have a wide berth of knowledge. Make sure that the pictures that accompany your blog page should be of high quality and relevant. Again, for blogging to become a good source of income it takes some time. Once again you don’t have to be a traveller to be a blogger. There are all sorts of bloggers out there.

Teaching English Online

You can also teach English online. This is becoming a pretty trendy route for travellers. You will have a massive advantage if you are a native speaker but even if you are not then you can get a certificate from TFEL and get going. This is a very common form of traveller job that is becoming pretty awesome among the traveller community. You can travel the world as well as you can earn money.

Teaching English online is a consistent and accessible source of income for travellers to earn money while travelling. All you need is a good internet connection and good teaching skills. Plus, you can choose your schedule and commitment level depending on your level of comfort.

Dropshipping

It is also a very popular way of earning some cash amongst travellers. It is essentially the process of buying something at a very low cost from one country and then selling them at a higher price in another country like Europe or the USA. If you are a good at marketing and love to travel the world this traveller job is for you.

Affiliate Marketing

Another method of a similar kind is Affiliated Marketing. What this means is that you promote the products or services of a company on your official site or your YouTube channel and if someone buys them or chooses them then you get a commission from the company. This is becoming one of the best traveller job to earn money if you are a traveller who travel the world quite often.

Become A Scuba Instructor

There are other ways that you could earn money like you could become a scuba instructor or a surf instructor. Though being a scuba instructor brings you more money. And more money means more challenges.

You need a proper certificate from the concerned authorities to work as a scuba instructor. There are a bunch of courses and certificates required for this. Services like these are available in Thailand and the Philippines.

Become A Surf Instructor

Becoming a surf instructor is similar but without all the need for certificates and courses. You just need to be a good surfer. Though you will not earn as much money as a scuba instructor. But this is a great way of meeting new people, having new experiences and earning some extra cash along the way. You will love this traveller job.

Real Estate

If you have been a traveller for quite some while now and you have money that you can spend, then instead of using up that money to travel more exotic locations you can buy a property in your native land and put it on rent. Travelling is not cheap and requires money and renting out a place on your own can give a consistent and stable source of income. This is a majorly common option for travellers who have been in this occupation for quite a while.

Work On Cruise Ship

There are always opportunities to work on a cruise ship. It’s a lot of fun and these kinds of jobs are easy to find. There are cruise ships that are more than ready to offer you a job on the deck so that you can work and earn some extra money.

Working on a cruise can be hard but they can party hard too. Though the pay isn’t anything special, the lack of any insurance to pay, or hotel room charges or transportation fees means that whatever you earn, it goes straight into your savings. This is hard job to do but you get a chance to travel the world and earn at the same time.

Work As A Volunteer

There is a lot of volunteer work also that you can do in exchange for free accommodation and food. Like WWOOFing and HelpX. There’s also Workaway that is fast becoming popular among budget travellers.

House-sitting

Housesitting is also a very popular means of earning cash for travellers these days. It has a lot to offer. You get free accommodation with all the facilities that a full-fledged house can offer you plus some real privacy. Though getting started in this business is a bit tricky and takes time but once you build a good reputation and a CV, you are all set to go!!

Work In A Hostel

Hostel work is one of the holy grails for travellers. There is hardly any hardcore traveller in this world who hasn’t at any point done hostel work. It is probably on number one in the list of budget travellers.

It is super easy to get jobs like these. You just go to the hostel and ask at the front desk if they need any sort of “help”. “Help” usually include works like minding the bar, managing the front desk graveyard shift or sweeping the floors. Though they might or might not pay you, but you get free accommodation and food.

Become A Tour Director

And the last idea is becoming a tour director. I saved this for the end because this is the most asking of all the jobs that we have listed here. You need to have endless energy and have to handle a lot of things like communication with the driver, accommodations for the travellers an so on.

They will ask you a lot of questions and you need to stay with them throughout the tour. But on the bright side, this is a great way of meeting new people and this option also gives a decent amount of money. There are a lot of tour companies and agencies who look for tour directors especially to remote and popular places.

April 11, 2020
Apply These Secret Techniques & Hacks To Improve Name For Startup

Any parent considers at least a hundred names before deciding one for their baby. Well, every startup is its founder’s baby. I say their names require the same amount of attention. The name will lead the startup throughout its career, and is the first thing people will come in contact with. This article will discuss some guidelines and methods to help you find the perfect name for your startup.

1. Brainstorm

Brainstorm the Name of the Start-up with Your Co-Founder or with Your Team.

Pick a corner. Grab a notepad. Write down what your business is about. A very short one-line description of your business. Pick the defining aspect of your business. Is it customer service? Or integrity ? Or customization? Play with words. Search for the word in different languages. It is necessary to have an idea of what your name should be like and what it should represent before you seek inspiration and after all the calculations give the name of Startup.

2. Inspiration

Name of the Startup on any Inspiration.

Now, for the inspiration. When you have an idea, it is necessary to seek inspiration. I know that the process is usually reversed but hear me out. It is important to be uninfluenced before you start deciding on a name of the Startup. Seeking inspiration at the start will lead to constant comparisons of whether your name will be better or equal to that of your competition. Inspiration can be from anything- that depends on your product.

Also Read: 16 Must Watch Bollywood Movies for Entrepreneurs.

3. Name Generator

Name Generator Websites Can Help you in Naming of the Start-up.

Remember when I discussed word play. There are online name generators available that ( you guessed right ) generate the names of the startup. Generators like the one shopify offers, or namelix give you a variety of choices. All you need to do is enter the keyword, the ones you wrote down while brainstorming. The options range from misspelled words to catchy phrases. Some generators even check for domain availability at the same time. I’ll discuss domains in a little while.

4. Simple

Name of the Start-up Should be Simple.

Keep your name simple. Don’t exceed more than twenty four letters. Something that captures the whole essence of your company with one word. And try to stick to a single word. It can even be a compound word and if it has to be two words, make it catchy, for example- Dunkin Donuts or Krispy Kreme. A tall order; taller than a Starbucks latte unfortunately. If it is more than a few words, make it your catchphrase, like McDonalds- ‘I’m loving’ it’ or Nike’s- ‘Just Do It’. Keep it simple and keep it memorable.

5. Original

Originality Should be Maintained in Naming the Start-up.

Originality is something important. Not only does that give you the creative bragging rights but also makes it easier for you to use the name without competition and escape unnecessary lawsuits involving copyrights. Your originality reflects a part of you. While you don’t have

to stress over name of the startup, it is definitely something you need to be original about, because the name and how you describe your product is important.

Also Read: How to Come UP With a Creative Business Name.

6. Spelling

Spelling Should be Correct While Naming the Start-up.

Spelling is one of the most important aspects of your name. Unless you deliberately misspelled your name like Flickr or Lyft, spell it as it sounds. Even misspelled names merely replace letters that do not change the pronunciation of the word. Don’t use silent letters. And most importantly, understand the language of your target audience and name accordingly. It makes no sense to use a french name for a product targeting a Spanish audience unless it is really relevant.

7. Say it aloud

Say the Name of the Startup Aloud.

The name of startup needs to sound as good as it is spelled. If your name is mispronounced one too many times , it’s a sign you need to change it. Also your name shouldn’t associate or rhyme with any negative connections. Simply put, your name is not something that should be made fun of easily.

Also Read: How to Get Media Attention Towards Your Startup.

8. Relevance

Name of the Start-up Should have a Relevance.

Unless you have the means to oversee a huge marketing campaign, stick to names with relevance. Google, Yahoo, and oracle make no sense by themselves but since they are popular, they needn’t be self explanatory. In fact those names have developed their own definitions.

If you are opening a coffee shop, your name should be something such as coffee bean, or coffee hour, or anything relevant.

9. Feedback

Feedback can Help you While Selecting the Name of the Start-up.

Feedback from your circle will you give you a new perspective. Your circle is the closest you can get to your target audience before launch. They will also offer valuable inputs from a customer point of view so be sure to take them into consideration.

10. Don’t be obsessed

There’s always this feeling of satisfactions when it comes to creativity. A better design, a better logo, a better color scheme, a better…stop. Don’t obsess. If it fits all your requirements stick with it. And don’t hold out hopes for changing names in the future. That will give you unnecessary hassle because there are legal aspects involved. A name is surely important and worth a few sleepless nights but don’t obsess over it.

11. Growth

The Name of the Start-up Should Add Growth to Your Start-up.

The name shouldn’t restrict your growth. Don’t tie your name to a place or a single product. Names of the startup such as ‘Jonah’s books’ or ‘Madras Apparel’ won’t do you any favours when your aim is to scale. Stick to non-confining names. Unless of course the place is ties to the brand. Kumbakonam filter coffee is one example. Kumbakonam is a place in Tamil Nadu renowned for its delicious coffee.

Also Read: How to Find The Perfect Co-Founder.

12. Trademark

Trademark Should be Registered While Naming your Start-up.

Once you have your name all set, it’s time to put a TM on it. Look up the procedure on how to register your brand for a trademark to prevent others from using your name. And if anyone does copy your name, they’ll be liable to pay you. Register your trademark as soon as possible.

13. Domain

Domain Name Should be Similar to the Name of the Start-up.

If you need an online presence, check for availability of domains. If your domain is available, great. If not, and if you definitely require an online presence, you have to change your name unfortunately. Or if your domain name is available for sale and if you don’t want to go through the process of choosing another name, buy that domain. And always, always go for a .com rather than a .net or .org because .com implies credibility to the user.

Also Read: Build Trust in Online Business

14. Register

Registration of the Name of the Start-up Should be Done Soon as Possible.

Once you choose a name of the startup, you have to register your business. The procedure varies from location to location but a lawyer can definitely help you with all the legal aspects of the business.

15. Social handles

Social Media can help you to Decide the Name of the Start-up.

Retain the same name across all social handles. Don’t change it from one medium to another. Familiarity helps with memorability. Different names of the startup will make your customers question credibility. If special characters are part of your name, include them as well at all handles.

Also Read: Top 10 Social Media Management Tools for Business.

16. Are you satisfied?

Satisfaction Should be there While Naming the Startup.

Don’t kill me for making you think twice but are you satisfied? Because it is important to be happy with the name you have chosen so that you can focus on other important aspects of your business. Seek validation from trusted ones and make sure you are happy with the name before you proceed to a point of non-reversal.

The process of finding a name is definitely nerve-racking. Don’t stop until the name feels right to you. If you have a team, consult them. Your business name is not just the business’ identity, but yours as well. The name will also influence the marketing campaigns and investors. Find your niche and choose (or create!) a name to represent it. Whatever name you choose, stick with it and do not second-guess it too much.

Happy name-hunting!

April 11, 2020
Best Ways To Manage a Freelance Project

Freelancing has helped people to put their skills to work and earn a lavish livelihood through it. It has broken the myth that a job in an MNC will help you accomplish your dream to buy a BMW! It’s a great feeling to be your boss but challenging simultaneously. Management is one of those skills that must be imbibed in your DNA because if you can’t figure out the workload and deliver things on time, you will surely lose your clients, no matter how experienced you are! So, let’s peep into the brains of successful freelancers and find out the way how to manage a freelance project. Below we have discussed some of the ways to manage a freelance project like a pro.

Ways to Manage a Freelance Project

Be The Best Of All Your Competitors And Offer Unique

Imagine a scenario of a Content Writing organization that has a team of content writers. Now, there are lakhs of organizations doing the same thing. So, the smart move would be to offer graphic designing and website building services also! Rather than hiring some more freelancers, learn and teach your team designing and web development. This will help you attract more projects.

Also read : Tips To Become Best Freelancer In India

I am a pen and paper person. I like to write things down.So I utilize a spiral notebook to accomplish all of my to-do’s for the day. I put the client’s name with their task list and then deadlines. So I record every detail. Same daily schedule for little and large tasks, with or without deadlines. Additionally simply be straightforward, defined limits with every customer, and don’t guarantee things you can’t convey. – Fernmaiden Fuentes

Make proper use of technology

Use New Technologies

Use the best technologies available and offer some unique services. There are many tools available on the internet which you can use to increase your productivity. If you are in an online marketing space there is a lot of tools and software available which you can use to offer more services to your clients and also to track your work-in-progress. You can easily manage a freelance project if you how to use technology in your favor.

I use a task manager, where I have every day’s to-do list separated by project and priority. I recommend Todoist. – Adriana Chionetti

Popularise yourself through social media

Popularise Yourself

Connections and links with people in communities can get high-budget projects to fall in your side. LinkedIn and other professional social media platforms are the best ways to do that. If you are a coder or a developer then your GitHub profile, Hacker Earth, Hacker Rank or SPOJ profile will automatically attract the companies. So, you don’t need to prove yourself in front of the interviewers. That’s why it’s important to build a strong network. With great network it becomes easier to manage a freelance project.

Also read : Improve Your Freelancer Profile that Stands Out

Set Remote Work Hours

Though you have the freedom to work on the project anytime, professionalism has a vital role to play in your life. Make a proper time-table and have fixed working hours. In the lust of money, don’t just spend 24*7 working on the project. Deliver things on time and that’s enough!

Make your every day as productive as possible and try to use your time more efficiently. That way you will be able to learn new skills to improve your portfolio.

I make use of the Pomodoro method. It helps a lot. EEach Pomodoro is a 25-minute cycle followed by a 5-minute break. After the fourth Pomodoro, you take a 15-minute break. – Christina Ramas

Keep the Client Informed

If you have promised to deliver after 3 weeks then it’s not that you will call the client on the last day! It’s important and a nice practice to keep him updated weekly at least! Whether you face any setback or challenges, just write an email to the client. This will just increase the value of your freelance project during submission and appreciation.

I have been battling with this since the time I had a go at setting off to an electronic calendar. This year, I went back to a paper planner with time blocked out for each client, priority to-do lists, and recognition that sometimes I may need to erase or rearrange. I additionally utilize a major whiteboard to list my customers initially, check off occupations as I finish them. These two methods together are working. – Bonniejean Alford Hinde

Ask for Testimonials and Referrals

Following up on building excellent rapport with clients. When you do this, it’s much easier to ask a client for a testimonial, which you should do!

Tributes are a piece of showcasing yourself and are “professional proof” which increases trust in other imminent clients.

Testimonials can be published on your Website, in marketing PDFs, and on LinkedIn. Having recent testimonials is vital as the older a testimonial gets, the more irrelevant it becomes. Referrals are a great way to drum up new work and clientele. A referral implies either asking your customer to legitimately prescribe you to individuals in their system who may likewise require your services or inquiring as to whether they know anybody who might need your services so you can reach out to them yourselves. As with anything new that you try, there will be stumbling blocks, but it’s all part of the learning process — and the learning process can be exhilarating.

When you begin to shape some authority around freelancing, you’ll be considering approaches to comprehend new difficulties, for example, expanding your freelancing rate or discovering greater and better tasks to work on. Take the time to get your feet wet and learn the ropes!

Also read : Best Digital Marketing Business Ideas for 2020

Decide Your Prices Well

People think very differently! Selling at a very cheap rate might force people to think that you might be missing something and may compromise with quality while high rates will return the customers at the very first sight. So, if you are quoting something higher than the market then you must offer some more than your competitors. Make it worth the money!

Start with a table in Word/Doc/Notepad: 1. List all your clients. 2.List the quantity of articles or words (for me) to be presented that day PER Client. 3. Rundown the time you want to spend on it. 4. Strike off everyone when complete and add your time. – Geo Maria George

Outsource Your Work

Many freelancers done a mistake when they get a lot of projects either they don’t accept or they try to do everything on their own. Try to outsource your work and it will be more beneficial if you can build a strong team. A team plays a major role in the freelancing world, you can’t grow your business if don’t have a team. So, after reaching the top try to build your team of freelancers. Sometimes it can be hard to handle any freelance project but following proper guidelines you can handle it easily.

Also read: How You Can Use Instagram For Your Business

No matter what you are doing in your life, management is a skill that you will need in every aspect. So make sure you are building your management skills along with other jobs. It will happen many times that you will get negative testimonials that time doesn’t give up and try to improve your skills more. Always try to deal with negative feedback as your mentor and learn from them. Learn time management as well and one day you will be able to manage your freelance project like a pro!

April 11, 2020
How To Build A Brand That Customers Love

Every startup aspires to become a renowned group brand, but only some manage to survive beyond 2 years. Even fewer go on to cement their status. The reason is simple, brands aren’t built, overnight billionaires. It is easier to make money out of your startup than to build its identity. To build a brand, you must first know what a brand is.

According to you, a brand is a popular name on which goods and services are sold, and that with time, companies eventually become a brand. Another definition may be of an organization that sells a given product and has a symbol/logo in conjunction with a name. Well, a brand is way more than just a name and the simple textbook meanings mentioned above. To achieve the coveted status of a brand in the market, you need to think beyond ordinary. It doesn’t mean you mimicry what big brands do right away but do what the big shots did before becoming a household brand name. There is nothing like building a brand that customers love because it attests to a sense of attachment and fulfillment when people are satisfied with your product or service. Here’s a list of ideas to achieve popularity and love amongst customers while building a formidable brand.

Pay Attention To Your Business

You need to carve a unique identification of the brand for your product or service. Don’t engage deeply in one segment while ignoring others. Putting more into marketing and image building but less in sales or vice versa has pessimistic effects. No company focuses on branding first and sales later. Selling your service should be at the top of one’s priority pass list. Provide the best to your customers. Likewise, not focusing on your strategies also leads to problems. Heed to all aspects of your brand.

PAY ATTENTION WHILE BUILD A BRAND

Also Read:-Email Writing for Awareness Stage

Be Prepared Always

“Give me six hours to chop down a tree and I will spend the first four sharpening the ax, ” these words by Abraham Lincoln summarize the secret to crafting a successful brand. This simply means to prepare yourself and work smarter instead of harder. It is the quality of a product or service which differentiates a good brand from an average brand, a great one from a good one. Customers trust a brand based on its offering’s quality.

To become a prodigy name, businesses must consider three elements: past, present and future. The first two elements must be used to craft strategies for the future. They need to keep themselves prepared for the worst. Whether it is the threat of a new competitor in the market or drastic action changes in the fundamental concept, brands revered by customers work on all possible scenarios and rebound no matter how severe the situation may be. A brand is thus the result of constant efforts and betterment applied over time and this makes it a preference for customers.

Also Read:- Online Marketing Tools Which You Can’t Live Without

Exceptional Customer Service

The key is to keep customers happy and content. An organization needs to build a loyal customer base that comes back to them each time. Such customers can even increase your brand publicity through word of mouth, forming a good image of you and a prodigy brand identity. Make your customers feel valued; be it in the form of a gift, a monetary incentive or some other add on. This way, your business enters the list of their all-time favorite.

CUSTOMER SERVICE

Also Read:-Types of CRM

Understand Your Brand’s Soul

A brand is more than a company—it is an emotion, a feeling. You must have seen people talking about certain products with very high involvement. Women showing off their Gucci bags and kids flaunting their Air Jordans. Endorsing a brand gives them a feeling of standing out from the crowd. Your brand should have a meaning for you as well as its customers. This ultimately becomes the core of your functioning circuit. The crux of your business should be loud and clear. A tagline with a logo is the best way to represent it. It exudes your concept and shows the spirit of doing the business. An example is Nike’s ‘Just do it‘, which promotes the spirit of confidence. Any athlete is likely to buy a Nike product since the brand is strongly linked to sportsmanship qualities.

Also Read:-Best Sales and Marketing Books

Authenticity

Your brand must possess authenticity. Originality is a differentiator. Don’t imitate existing, successful brands word-to-word. You may borrow an idea or two but some aspects should set you apart. Straightforward mimicry is harmful, and customers are quick to judge such steps taken by companies. This also portrays your brand as hostile and fearful of the competition act.

Also Read :-How to Remotely Manage your Workforce?

Affordability

AFFORDABILITY

It may sound weird since branded products are all high priced but this is when they are already established. They’ve been standing up to the reality of the expectations of their customers for a long time. To command, a high price for your products or services, start by becoming a brand that offers the best in quality at reasonable prices. Keeping lower margins, in the beginning, will increase your sales and with time, these can be adjusted with the rise in standards services.

It can be an enormous task to build a brand, but if you are passionate about your product and you, it becomes easier to convince people. Whatever you offer them, they have double to offer you. Credibility, authenticity check and quality lead you to unmatchable grounds of the market where everyone loves your brand. But for this, you need to love and live your brand.

April 10, 2020
Intugine is Helping Government Monitor Home-Quarantined Individuals

To ensure strict compliance of social distancing guidelines, a Bangalore-based start-up, Intugine Technologies is helping government officials monitor a large number of home-quarantined individuals as the nation ramps up its efforts to contain the COVID-19 spread. The most important part of their solution is that it does not require the installation of any mobile application and can work even on feature phones. Using SMS, the user consent is recorded and the tracking is initiated.

Already live in five states including Goa where the company has launched a mobile application Covid Locator to suit the demographic. The state governments are using the solution to monitor COVID-19 quarantines in specific regions, the solution is helping officials monitor tens of thousands of cases on a single dashboard. This has helped reduce the workload on the ground teams significantly while ensuring a more effective way of ensuring adherence. The dashboard is accessible to the officials and the COVID-19 control room to facilitate real-time decision making and monitor the home-quarantined cases. The location data is stored securely on cloud servers, thereby ensuring that the privacy of individuals is not compromised. The tracking stops automatically after the quarantine period ends. The start-up is in talks with government officials to deploy the solution in other states of the country as well.

Intugine is a Logistics Technology company, providing real-time tracking and supply chain optimization solutions to the likes of Philips, Flipkart, Mahindra Logistics, Arvind Mills, Arvind Fashion and many more. Intugine’s end-to-end platform includes route planning & vehicle allocation, digital indenting, in-warehouse tracking, in-transit tracking, electronic PoD, and data-driven planning. Intugine’s Location Intelligence platform already tracks lakhs of truck movements every month and is repurposed to track the home quarantines in the light of the COVID-19 crisis. Intugine tweaked their logistics solutions, including their ‘Mobile Number Tracking‘ solution to help government authorities track movements of the home-quarantined people and detect any possible breaches. The tech works on basic phones as well, covering 95%+ of the Indian Mobile Phones.

Intugine Technologies Founders

The founding team behind Intugine includes Harshitv Shrivastava, Ayush Agrawal, and Mrinal Rai, who come from IIT Kharagpur and SRCC. They raised an undisclosed amount from IPV and some angel investors in 2019.

To maintain mandated confidentiality, the names of some states have not been mentioned.

The founders stressed on the importance of private ventures backing the government in these troublesome times. As they put it, effective use of technology can go a long way in containing the situation.

Harshit Shrivastava: With social distancing being the only effective option to contain COVID-19, we believe that an effective monitoring solution can be of great help at this point. With our location intelligence platform, we are enabling authorities to monitor thousands of quarantines at once, in an effective, least intrusive and scalable manner.

Ayush Agrawal: Our logistics platform fits seamlessly in providing a solution to the COVID-19 monitoring. As we got positive feedbacks in detecting the breaches of home quarantine, we started reaching out to multiple state governments for large-scale implementation.

Mrinal Rai: Once the lockdown ends it’s going to be very crucial to identify COVID hotspots based on population movement and density and do effective contact tracing to avoid the next wave of infection. With our location intelligence algorithms and data mining technologies, we are building tools to do such analysis and tracing at scale.

April 9, 2020
Ecommerce Trends in the Indian Ecosystem

Disruptions are the need of the hour. This applies to the eCommerce in India as well. With the emergence of new competitors in the online segment, established players such as Myntra, Flipkart and Amazon, are reinventing their way of functioning to stay at the top.

The new strategies being employed can be witnessed through the ‘trends’ that have captured everybody’s attention. Indian entrepreneurs are adamant about revolutionizing the eCommerce industry and experience for their countrymen, taking inspiration from their western counterparts as and when required.

WIDGET: leadform | CAMPAIGN: undefined

Here are a few trends of 2020 that are collectively catapulting the eCommerce in India to another level.

Innovation in logistics

The customer orders an iPhone but receives a fruit instead. The blame directly or indirectly goes to the delivery guy who’s just a small part of the supply chain. Ecommerce players are realizing the importance of getting logistics done right since most of the customer complaints pertain to delivery issues. To sort it out, third-party logistics providers are turning up on the scene and are being hired by companies to micromanage the entire delivery process. The highlight to watch this year would be drones replacing delivery boys, overcoming hurdles such as traffic, transportation, etc. with relative ease. Hence, taking Ecommerce in india to another level.

ecommerce

Video marketing

Static advertisements are now becoming a thing of the past. Video marketing is gaining prominence, propagating and convey much more information than a normal ad. A 10-second advertisement can influence the audiences’ mind to an extent that wasn’t possible earlier. Don’t believe this? Pay a visit to sites that show what’s trending in India and what is going to be blocked soon in India and test out the effectiveness of such video commercials!

Also read : Impact of Coronavirus outbreak on ecommerce in india

Virtual trial rooms

Not leveraging the potential of AI and machine learning in the modern-day means an outdated way of performing tasks. A lot of endeavors out there are concentrating on creating the perfect trail room experience, continually improving the entire virtual procedure to mimic the real-world experience. A major reason why offline shoppers are reluctant towards jumping on the online purchase bandwagon especially when it comes to clothes is due to the lack of ability to try out items before purchasing them. Virtual trial rooms are quickly going to tear down this inability of e-commerce sites.
Virtual assistant: A chatbot or virtual assistant with the appropriate functionality can do more than just a “Hi there”; it can guide through the customer’s entire experience on the website, right from opening the catalog to finalizing the shopping cart. With the amount of research going on in Natural Language Processing and Artificial Intelligence, the number of conferences being held all over the world, universities rolling out certifications and specializations in these domains is a testament to the power that chatbots possess. Some websites have incorporated the same, showing that AI-powered assistants are receiving a positive nod. These advanced technologies are Ecommerce in India to grow more faster.

Government support

The current central government has been rolling out schemes one after the other. Initiatives such as Digital India, Make in India and others have strengthened the eCommerce in India. Various foreign companies are given canned to partner with local companies such as Walmart who purchased Flipkart, to increase foreign investments in India. Not only at the national level but at the regional level also, the state is organizing business summits to encourage eCommerce startups in India. The PMOs’ insistence on digital wallets has caused companies such as Amazon, Flipkart to bring changes in payment gateways. Other effects will be felt for sure in the coming future.

Also read : Deep Case Study on Why Startup Fails

Industry partnerships

Foreign corporations investing in Indian companies make headlines is becoming a common news headline. The shot in the arm that Walmart intends to give Flipkart was the talk of the town for quite some time, and the legal broth it had stewed is a kind of incision revealing the difficulties involved in big mergers. By partnering with international firms, Indian e-retailers can leverage expertise and skills for their enhancement. It will give them chances to expand in their respective countries. The biggest problem is negotiation while remaining compliant with Indian rules and regulations.

Big Data, Cloud and IoT

With the extremely number of data that is being generated by online shopping sites, new visualization techniques and analysis tools are the needs of the hour. Storing the processed information calls for secure and reliable storage mechanisms is something that cloud service providers such as Amazon and Microsoft are known for. MNCs and startups alike are utilizing such high-end solutions for most of their needs. And as time progresses, the advancements are only going to reach unprecedented levels, allowing e-commerce organizations operating out of India to innovate and invent.

Also read : A Complete Guide on How to Start an Ecommerce Business in 2020

The rise of phygital stores

This is the most updated trend that the current eCommerce industry is using is combining the online store with the classic retail stores, commonly known as phygital store i. e physical + digital stores. There are numerous times when we want to buy something but can’t because of the sizing or other issues. The phygital stores are the solution and these are growing rapidly. Online brands like firstcry, lenskart, Nykaa have started this and other brands are planning to do it soon. This gives the customer the satisfaction of buying things personally while for the company they get to retain their company.

The rise of Social Commerce

With the trend of providing high-speed internet by Jio and other brands, the period spends online has increased. The transition in the way online shopping is done in India is evident. From people thinking twice before sharing their credit card details in the payment gateway to youngsters and adults buying items in a jiffy through the comforts of their smartphones, e-commerce is shaping up for sure, and for the better. It would be interesting to see how new trends evolve over the years, and how they would contort the presence of e-commerce in India. Who knows, brick-and-mortar shopping outlets may soon become a thing of the past!

Here’s is the reason why Jeff Bezos is Dominating Several Verticals Through Amazon.

April 9, 2020
Must Follow Exit Strategy For Startups And Investors
Investors invest in a startup intending to earn back multifold times their actual investments. But, some startups tend to lose their grace during their startup journey or go into losses. So, many investors and entrepreneurs decide to exit the present venture to either start a new one or to join an existing one.

Any investor don’t want to use any exit strategy, here are some exit strategy in business plan that can be followed by investors as well as founders, to minimize losses and maximize profits.

Public Offering

In this process, startups sell their stake or part of the business to the public for trading. The advantages behind this process are, first, it increases liquidity or cash in hand. More reputation and more anticipated ROI will result in more trading price. Second, this cash in hand can be used to buy stakes of companies which are privately held and are facing a roadblock. Also, many companies going for an IPO sometimes buys smaller companies working in the same domain, to enhance their value and the money required to buy these small counterparts come from an IPO. This can be considered as a nice exit strategy in business plan by investors.

exit plans for business

Mergers

Mergers and acquisitions can go both ways i.e. A company can merge or acquire other smaller counterparts or can get itself merged or acquired. The basic reason behind this process is to maintain cash flow and to keep the company afloat.
Companies with drying investments and facing tough competition in the market, choose this process. A company acquires others, to increase its workforce working in a specific area, to improve its dominance in a market or to scale itself. The amount an investor receives directly depends on his stake.
It depends on the investor to either stay or use this as exit strategy, so to decide this an investor notes down three important things,
- Will the company acquiring the venture, handle the venture properly or will it fade away with time?
- Will the venture survive after the acquisition i.e. will it lose its grace or its niche?
- Will the valuation increase?
Also read : Deep study on why Startups Fails

Private Offerings

Many startups when facing a cash crunch, raise investments in return for a stake. So, when a startup is to be sold completely, many entrepreneurs and investors tend to sell their entire stake in return for cash. This results in cash for a seller and complete control for a buyer, who then can change things accordingly.
Most entrepreneurs follow this rule if they have a successful venture during their initial stage of life. This money sometimes used to start another startup, without actually facing a cash crunch at the initial phase. This exit strategy in business plan is also followed by an entrepreneur who wants a complete hold of his/her startup.

Cash Cow

The firms that can maintain a high market share in a low growth industry, in return of paying dividends to its shareholders. They have enough cash flow to stay afloat for the future where they see themselves in profits. Instead of exiting, these startups aim for profit by upping their sales figure. But, in some cases, an investor demands to opt-out, so than these ventures provide them with a refinanced plan with better offers. They tend to cash in on their products, so they are often termed as “Cash cows”.Well established organizations who want to reinvest their profits for upscaling themselves, follow this procedure.

Also read : Learn How to avoid Bankruptcy during Early Days of Startup

Acquihires

At times, the talent behind a successful product sparks greater interest than the product itself. This exit strategy happens during the initial phases of the startup, often leading to the closure of the startup. The employees are hired by a larger organization, on a much higher pay scale along with various other perks. Thus, the buyer company ends with an enviable workforce that becomes an acquisition target for the rivals.

Selling it to a friendly

It is a satisfactory way to sell your business and exit from the market as it is going to be a friendly face, with whom you will sell it. It occurs in family businesses where one family member passes the business to another member. The interested parties can be a family member, acquaintance or any knowing member. The face is selling your business to a friendly face will give you a satisfactory feeling that your business is in good hands. This is easy exit strategy in business plan as compared to others.

Liquidation and close

Liquidation is the process in which all the assets of a company are sold over in the market to liquidized it in the form of cash. When a business decides to go liquid, the prices of all bits invention goes down in the market so that it sells quickly. The proceeding is used to repay all creditors and whatever is left over is divided between partners. This might be the most painful exit strategy of all.

Also read : Reasons Why Your Business Needs Consultancy

Management buyout

It is a rather unconventional yet conventional way to keep your legacy alive. If you are that businessperson, who wants to keep their legacy alive, then it can be a convenient way for you. In this method, you can sell your business to your employees. This will the business will have its working going on as usual. The employee will have the idea of all the details both intimate and general and hence, it will be easy for them to regulate the business, the way it was already moving. Also, it won’t hamper the production rate of it when the owner will be selling it. Giving it to the family is also can be considered but since there are chances of family rivalry or lack of knowledge, that won’t be the resulting beneficiary.

Seller always wants to sell his venture for maximum money and a buyer wants to buy it for an affordable price, so when a balance between both of them is struck, it is the correct time for an exit. It is advised to plan an exit strategy and should be mentioned in the pitch deck. This makes it easier for both owners and investors and doesn’t come as a shock to both the parties.
April 9, 2020
How to Keep an Eye on your Competitor

Almost all businesses face some sort of competition. Business Competitors should be viewed, not as a hurdle but as challenges. Your business competition may create a plethora of problems for you, but you can try to remain one step ahead of them, keep an eye on your competitor and focus on improving your business model concerning that of the competition. Observe them, find loopholes in their strategy as well as yours and use this information to place yourself in the market efficiently.

If you don’t know who is your competition here’s The Five Forces Model to Determine Your Industry Competition.

Here are a few ways by which you can spy on competition ,

Monitor their brand

We live in an age where having a social media presence has become very profitable and can be used in many ways for the good of the company. Similarly, in our era, people share all of their experiences on social media, they give positive or negative reviews about companies. You can use this to your advantage by finding out the shortcomings of your competitors on social media. You can use these failures or shortcomings of your competitors, by highlighting their weaknesses as your strengths. Responding cleverly with well-placed marketing tactics can boost the image of your company in a major way.
You can easily monitor the brands of your competitors by using google alerts. However, google alerts, although users may miss out on a lot of mentions of your competitors. There are many useful tools out there with the help of which you can monitor brands of competitors. These include SEMrush and Brandwatch.

Here’s Why Business Analysts are Important for Organisational Growth?

Follow your competition on social media

Follow your competition on Social Media

Although this seems like an obvious point, it is one of the easiest yet most efficient ways to keep track of your competition. Follow your competitors on social media, sign up for their newsletters and read their blogs. Companies constantly update these with their latest innovations, tech, and ideas; This can be a great way to learn about what they are doing and position yourself in the market accordingly.

Also read : Analysing competitor’s strategy

Find out the keywords that they buy

The way companies position themselves in the market can largely be figured out by analyzing the keywords they buy. One of the best ways to keep an eye on your competitors is to find out the keywords they use, and figure out what keywords you can buy, which will be cheaper and how you can position yourself in the market effectively. Almost all companies use Google AdWords and it is compelling to find out how the marketing teams of rival companies place their ads.
SEMrush, the tool for brand monitoring is also one of the most useful tools you can use to keep an eye on your competitor’s AdWords. You can get an overview of the top organic keywords, distribution of how these keywords rank, paid keywords and also backlinks. And the best part is that you can get all this for free. More advanced options are to be paid for.
However, it is also important to check their SEO, and figure out what keywords bring organic traffic from search engines to the website. Using this information, you can try and optimize your SEO for similar keywords or position yourself differently in the market.

Also read : successful brand getting competition

Follow their marketing strategies

One of the most effective and popular forms of advertising is creating display ads and placing those efficiently to attract users to your website. By keeping track of the ads your business competitors, you can analyze their strategies, find shortcomings and weaknesses and use these to help you create your strategy and figure out where to place your ads and modify your marketing strategy to bring more high-quality traffic. However, it is beneficial to use tools instead of manually figure out how their display ads are placed or what their marketing strategy is.

follow Competitors market stratergy

Most Ad Search is the biggest search engine for finding out digital ads. You can easily find out about the ads your competition has used in the past and the ads that are still active. You can use this to analyze the type of ads that may have worked well for them and create your marketing strategies accordingly.

These are a few ways you can spy on your competition and remain up to date in the market. But it is important to keep the focus on your own company. Your priority is your own business and although you are trying to stay ahead of your competitors, you should not lose sight of your vision for your startup.

April 8, 2020
Examples of Great Customer Service

Great customer service is one of the most important aspects of the business. We hear a lot of stories and there occurs a huge amount of negative coverage about companies that deliver poor customer service, and we don’t hear a lot about companies who are doing it right. At this age, it is essential to stand out and one needs to rethink and improve customer service.

According to American Express, consumers allow themselves to spend 17 percent more when working with companies that are known for delivering excellent customer service.

Especially in the digital world, where a consumer is encouraged to check reviews and find out how other customers have interacted with a company before engaging with them. Good customer service has become ever more important. While several factors can affect the experience of a customer, customer service is one of the top indicators of how your brand or company is perceived as.

Customer Service is especially important for small businesses and startups. This is one aspect that they can control and use to effectively compete against big companies. You can’t control your competition, but the type and quality of customer service you provide are completely in your hands. This is why you should put extra focus on trying to up your customer service.

Now a days every business use Customer Experience Management Software to increase the costumer satisfaction.

Also read : Top 10 customer support solutions

However, as it can be hard to figure out what changes your customer service needs, here are a few examples of exceptional customer service and how you can learn from these companies –

Amazon

Customer Service by amazon

Amazon is one of the most quoted examples when talking about great customer service. But what makes them exceptional? This widespread eCommerce company keeps customer service as their priority, along with dedicated and extensive help pages and multiple ways to contact them for help. Its return policy is also an excellent example of how they keep put customers first. They have often put customer service as a priority in ways that cost them their profit. But it ensures a lifetime of loyal customers and good publicity.

Jeff Bezos, the CEO of Amazon himself says “We’re not competitor obsessed, we’re customer-obsessed, we start with what the customer needs and we work backward.” This kind of dedication, when it starts at the top of the company and trickles down throughout is when you know a company has great customer service.

Also read : Survey of customer satisfaction by online giants.

Spotify

Music by Spotify

Spotify’s design and program itself is created in a way that it learns a user’s preferences by screening their music taste and songs, and uses this information by creating and providing personalized playlists as well as radio stations. Spotify tries to make interacting with customers and providing customer service fun, it has started a practice in which customers who tweet questions to their company are sent individual playlists designed in a way that it answers their questions. It also releases themed playlists in correlation with pop culture themes and popular styles. It is important to make your customer service fun and personalized and have a prompt social media team, which attracts customers.

Lyft

customer service by lyft

Lyft keeps up to date and focuses on issues that pertain to the real world. For instance, with the recent rise in awareness of global warming and the seriousness of this situation, Lyft announced a commitment towards minimizing the harmful extensive environmental impact of a large number of car rides it provides every day and declared all of its rides to be carbon neutral by purchasing carbon offsets. Lyft has also contributed around a million dollars to the American Civil Liberties Union (ACLU), to help them fight against an executive order that restricted immigration from Muslim-majority countries to the United States of America. Lyft is focused on current issues that are important to customers with various initiatives like these.

An essential part of great customer service is to be aware of current affairs and take action when it is needed. Millennials are especially interested in doing business with companies that use their resources to give back to those in need and have similar interests. Many customers believe that it essential for companies to take stands on current issues.

Coca – Cola

customer service coca cola

Coca Cola is also one of the brands that focus on social issues and strives to make a change at the core level. One of the most important aspects is that they not only donate to big charity or organizations but also have initiated efforts to pump money into local charities. Coca Cola started a ‘Thank You Fund’ based in Ireland wherein they have tried to fund projects that inspire and support young people in Ireland and Northern Ireland, along with their partners Irish Youth Foundation and Youth Action Northern Ireland. It has donated around 900 Euros with this initiative to local charities and non-profit organizations.

Ritz-Carlton Hotel

Great customer service by Ritz-Carlton

A very important facet of great customer service is high levels of employee satisfaction and engagement. They are so deep commitment to the idea of exceptional customer service, that they have given any employee the power to spend up to $2,000 per day to improve the stay of guests. John R. DiJulius is the President of a leading customer experience consulting group, who has written about the customer service of Ritz Carlton Hotel in his book.

DiJulius accidentally left his laptop charger behind in one of their hotels when he left. The hotel sent him a next-day air package with his charger, along with an extra charger. The package carried a note personally signed by someone from the hotel’s Loss Prevention department which said “Mr. DiJulius, I wanted to make sure we got this to you right away. I am sure you need it, and, just in case, I sent you an extra charger for your laptop.”

This level of customer service was only made possible by empowering their employees, by which they felt more engaged and took on more responsibility.

And even if you don’t have a large budget like that of this hotel chain, it is possible to keep your employees engaged through different means, or having a smaller budget to wow and give customers a memorable experience.

Customer Service is not limited and companies can be very open and creative about the kind of experience they want their customers to have. Be as open when interacting with customers, keep your employees engaged and empowered to bring more customer loyalty and focus on what the customers want, and basing your business model around it instead of having it the other way around. Having great customer service will make you stand out and it is the one thing you can control, especially while competing with business giants.

April 7, 2020
Financial Year: 2019-20 Clarifications
Financial year or Fiscal year is the a period of twelvemonths in which governments, companies,business and individual citizens calculate their budgets, profits, and losses. They comply with their tax liability and calculate their current market position considering their expenditure. Financial year is often used in business to compare with the calendar year. This fiscal year is a one-year period that companies and governments use for financial reporting and budgeting.

A fiscal year is most commonly used for accounting purposes to prepare financial statements. A fiscal year is important to publicly-traded corporations and their investors since it includes revenue and earnings making year-to-year comparisons possible. For tax purposes, the Internal Revenue Service (IRS) allows companies to be either calendar-year taxpayers or fiscal-year taxpayers.

It comprises of 12 months which is generally 1 April to 31 March. Although a fiscal year can start on January 1st and end on December 31st, not all fiscal years correspond with the calendar year. For example, universities often begin and end their fiscal years according to the school year.

In India we follow the financial year 1st April to 31st March. This financial year is a legacy left behind by the British. It was the East India Company which first brought this concept of 1st April to 31st March as the Financial or Fiscal year while they were ruling the undivided India. From then we all are following the same and we have made it part of our life.

Meaning of Financial Year and Previous Year according to Income Tax Act,1961

In the Income Tax Act, 1961, Sections 2(9) and 2(34) of defines the ‘Assessment Year’ or Financial year’ and ‘Previous Year’ respectively.

As per Section 2(9) of the Income Tax Act, 1961 the term ‘Assessment Year’ means the period of twelve months commencing on the 1st day of April every year. The Assessment year is the financial year of the Govt. of India during which income of a person relating to the relevant previous year is assessed to tax.

Every person who is liable to pay tax under this Act. files return of income by prescribed dates. These returns are processed by the income tax department officials and officers. This processing is called assessment. Under this income returned by the assessee is checked and verified. For instance, Assessment Year 2020-21 is a time of a year beginning from 1 Apr. 2020 and finishing with 31 March 2021.

While, as per section 2(34) of the Act, “Previous Year” means the previous year as defined in section 3.
Section 3 of the Act defines previous year as follows:
For the purposes of this Act, “previous year” means the financial year immediately preceding the assessment year. Provided that, in the case of a business or profession newly set up, or a source of income newly coming into existence, in the said financial year, the previous year shall be the period beginning with the date of setting up of the business or profession or, as the case may be, the date on which the source of income newly comes into existence and ending with the said financial year.

Also Read: Entrepreneurial Finance: Resource – Based View (RBV)

In fact, many nations in the world such as Japan, United Kingdom, Canada, New Zealand, Hong Kong, South Africa follow Fiscal Year of April to March, each year. But there are only 33 countries following the traditional old April to March financial year. Rest of other developed countries like Spain, Italy, France, UAE, etc. follow the Calendar year i.e. January 1 to December 31, as their financial year. As majority of the developed countries follow Calendar year as financial year, countries following old financial year are now facing few drawbacks to get in align with rest of the developed countries.

Government of India is thinking of change of Financial Year (April to March) to Calendar Year (January to December). Prime Minister, Mr. Narendra Modi had given a proposal in this respect in a NITI Aayog’s meeting. If this would be done, it would close the chapter of Financial Year of April to March introduced by Britishers in 1867,150-year ago. Implementation of Calendar Year in India as Financial Year may get operational issues first year in this way. Hence, it will be necessary to bring the important changes, data right now a half year prior before carrying the enactment with this impact.

As government of India has been taking steps along with Ministry of Corporate Affairs and Income Tax Department to make this amendment which will not only be challenging for common citizens but also for organizations & government but eventually it will lead country into better position overall.

Pros of this Amendment will be:
- This amendment will also benefit many MNC firms in India as they will not have to prepare different sets of accounts for different accounting period which will also ease their work at the time of consolidation of accounts. It will be easier for the companies to consolidate their data and manage their report for their respective holding companies.
- This will likewise assist the administration to estimate their spending arrangements, as this will adjust the monetary year to the critical storm cycle. Additionally, this will help in better designation of assets to the farming area, in light of the nature of storm in that specific year.
- International tax payers will also be quiet at ease due to no change in the period of taxation of their home country and other countries.
Cons of Amendment will be:
- It will prompt numerous different changes, for example, moving Parliamentary Sessions, spending introduction in November-December, redesigning charge foundation and laws, charge appraisal year which could prompt disarray.
- With the whole framework of bookkeeping programming and tax collection frameworks changing, there could be an enormous one-time cost for both of all shapes and sizes organizations.
- Much the same as the past demonetization and GST usage, changing the monetary year may likewise make a little vulnerability. Subsequently, this move should be very much arranged and executed to evade any disturbances in the economy.
No Extension of Financial year

Lately, a post of a newspaper got viral on social media because demand to extend the financial year was in light of the shutdown that was put in place to combat the COVID-19 outbreak. In the article, it can be read that ‘fiscal 2019-20 will end on 30 June 2020 while fiscal year 2020-21 will begin on 1 July 2020 but ends on 31 March 2021’ in the case of RBI. The article does not claim that RBI extended its current financial year till 30 June 2020 because it is already till 30 June 2020.

Even though 15-month year would look financials look better compared to the previous year,the government through a notification, clarified that it has not changed the beginning of its financial year from April 1 to July 1 – as is being claimed by some social media posts. The beginning of the current fiscal year (2020-21) would begin normally on April 1.

The finance ministry said, “There is no extension of the financial year The government has not extended the current 2019-20 fiscal year and it will end as scheduled on March 31.” PTI erroneously reported that the new financial year will start from July 1. The news alert and the related story have been withdrawn. “

Finance Ministry released a Notification to discard Rumours

Industry has been demanding extension of fiscal year by three months in view of the economic impact caused by outbreak of Covid-19. The administration’s explanation comes after a Gazette warning, which related to an adjustment in dates for assortment of stamp obligations, was doing the rounds in certain circles. Hence officials said that date of applicability of stamp duty has been changed from April 1 to July 1.

The finance ministry in a statement said amendments have been made to the Indian Stamp Act by deferring the effective date of applicability from April 1 to July 1, 2020. To rationalise and harmonise the system of levying stamp duty and help curb tax evasion, the government had through the Finance Act, 2019, amended the Indian Stamp Act, 1899. Certain changes were to be effective from April 1, 2020. Through a notification, the revenue department said these amended provisions will come into effect from July 1, 2020.

What Made up to these Rumours?

The coronavirus flare-up couldn’t have come at a more terrible time. It is the period of March and there are numerous monetary cutoff times that fall right now. These incorporate filing of income tax, , connecting of PAN and Aadhaar and so on.

Everywhere throughout the nation, urban communities have been locked down , curfews have been forced and individuals are telecommuting. This is on the grounds that individuals have been advised to keep away from crowded places.

“This notification pertains to few amendments in Indian Stamp Act wherein stamp duty on security market instruments shall be collected through stock exchanges and depositories. This was to get implemented from 1.4.2020 but is now forwarded to 1.7.2020 due to current situation,” said government officials. – SOURCES

Also Read: Get help with tax preparation and planning

The administration’s explanation comes after a Gazette warning, which related to an adjustment in dates for assortment of stamp obligations, was doing the rounds in certain circles. Therefore, the government announced that Implementation of Stamp Act changes deferred by 3 months till July 1 which was misinterpreted as change in financial year as auditors as well as tax practitioner were in a view with the goal that business houses can close their books of records appropriately to broaden the money related year was considering the shutdown that was set up to battle the COVID-19.
April 5, 2020