StartupTalky

Tag: Business Analyst

  • 10 Best Automated Answering Systems in 2023

    When working outside of normal business hours, your office may receive a large volume of phone calls from clients and potential clients. Even if you have a receptionist on duty, it may be inadequate if the volume of calls exceeds a certain limit. However, not every business requires a receptionist. An automated answering service can effectively route calls to the appropriate operator and can be customized to suit the specific needs and requirements of your business.

    In the business world, second chances are rare. Missing a call can cost you a potential lead, client, or significant business opportunity. But with automated answering services at your disposal, you can ensure that you don’t miss any opportunities.

    All answering service portals are user-friendly, so you don’t need a technical expert to set them up. To choose the best-answering service for your business, consider your current business needs and align them with your vision. This will help you make the right and most effective decision.

    What Is an Automated Answering Service?
    Factors to Consider While Choosing an Automated Answering System
    Top 10 Best Automated Answering Systems

    1. Nextiva
    2. Answer First
    3. PATlive
    4. Voice Nation
    5. Grasshopper
    6. Ooma
    7. Phone.com
    8. Vonage
    9. 8×8
    10. Aircall

    What Is an Automated Answering Service?

    Some companies use live operators to handle phone calls and take customer messages, but they also use automated answering services to take care of calls when the operators are busy with other tasks. Automated answering services are also useful for individuals who receive important calls but can’t answer every call themselves.

    In simple terms, an automated answering service is a type of virtual receptionist that handles customer requests and inquiries without making them wait on hold. It’s important to note that an automated answering service is different from an automated calling service, as it primarily manages incoming calls rather than outgoing calls. Additionally, an automated answering service typically includes a self-service option that uses advanced AI technology to answer customer questions.

    An automated answering service generally works in three different ways

    • Answer the calls on your behalf using your existing phone number
    • Play a pre-recorded greeting message that is tailored to your business requirements
    • Guide customers through a series of menus and ask them for their intent and gather all relevant information

    An automated answering service collects information from the caller and routes them to the appropriate department. It can also use call deflection to handle the high call volume.

    Factors to Consider While Choosing an Automated Answering System

    With the information provided about the top 10 automated answering systems for 2023, there are also other considerations to keep in mind when choosing an automated answering system. By taking these factors into account, you can make a more informed and efficient decision.

    Multi-Level Call Attending

    Automated answering systems route your client’s call directly to the specified operators by guiding the client through a simple menu. However, in case of multi-level call attending, this service goes up a notch by creating custom paths that allow for multiple callers.
    For example, one path might be reserved solely for accounting whereas another might go for technical support.

    Account and Call Monitoring

    When choosing an automated answering service, it is important to consider the call analytics feature. Many businesses use a dashboard to track customer interactions and this feature is activated every time a customer calls. Therefore, it is essential to ensure that the dashboard is user-friendly, and up-to-date, and allows for easy management of users, permissions and various aspects of phone calls.

    Live Call Answering Feature

    While automated answering services can be helpful, having a live person available to answer calls can also be beneficial. Some clients prefer talking to an actual person rather than having a machine answer their query. Having a live person on the line can provide customers with better satisfaction as they have direct access to someone who can assist them with their inquiries or concern.

    A live call answering feature is a valuable addition to a phone plan. Therefore, it’s important to check if the automated answering service you are considering has this option available.

    VoIP Market Size By Region

    Flexible Hours

    Many businesses operate 24/7 and require answering services that can work continuously. On the other hand, some businesses only require automated answering services during regular working hours. Therefore, it’s important to select a company that offers flexible operating patterns that align with your business hours and requirements.

    In addition to the factors mentioned previously, here are some additional features to consider when choosing an automated answering service:

    • Web/Mobile Chat
    • Post-Call Surveys
    • Conference Calling
    • Voicemail Transcription
    • Call Recording
    • CRM Integration
    • IVR

    Top 10 Best Automated Answering Systems

    Selecting an automated answering system is a significant change for businesses of all sizes. When making this decision, it’s important to consider how the system will improve and streamline operations for your business.

    In order to make the best choice, you need to have the most suitable automated answering system. With many options available, it can be challenging to make a decision. That’s why we have compiled a list of the top 10 best automated answering systems for the year.

    Nextiva

    Rating 4.4/5
    Best For Small Businesses

    Nextiva is a full-service VOIP phone system designed for businesses, but it can also function effectively as an automated answering service. It comes with several features that enable you to create a personalized greeting and set answering rules based on your business hours.

    Nextiva

    With these features, you can route calls based on factors such as area code, time zone, and other factors that dictate your call-handling process. Nextiva acts as a virtual receptionist, eliminating the need for a physical receptionist to answer calls before, during or after business hours.

    Nextiva’s user-friendly administrative portal makes it ideal for small businesses and can be accessed from a computer or the company’s mobile app, allowing you to manage the entire admin portal. Additionally, Nextiva offers scalable features as your business grows, including advanced customer contact features, VoIP, video chat services, virtual voicemail, and more. It also has plans available that include a multi-level auto-attendant for more complex call routing.

    AnswerFirst

    Rating 4.2/5
    Best For 24/7 Customer Handling

    Answer First provides businesses with a professional digital presence 24/7 by giving access to features such as message taking and response, appointment scheduling, and assistance with purchasing and ordering. The company has a certified and dedicated customer service team, made up of professionals who have been connecting people with answers since 1998.

    AnswerFirst

    Here are some of the services that are available to you when you sign up with Answer First: 24/7 Dispatching, Systems and Security Management, Live Transfer, Message Taking, Scheduling and Reservations, Virtual Receptionist, and Voice Mail Services.

    Answer First is an advanced automated answering service that offers exceptional customer service to all clients. It offers a wide range of third-party integrations and customizable pricing plans tailored to your specific needs and requirements. With Answer First, you can ensure that you never miss a potential lead, client, or business opportunity, and can always make a positive impression on your customers. The service’s 24/7 availability, live transfer, and message taking feature, scheduling and reservations, virtual receptionist, and voicemail service ensure that you are always reachable and able to provide professional and efficient customer service.

    PATlive

    Rating 3.9/5
    Best For All types of businesses and Customer Experience Management

    As a business owner, you are constantly seeking out solutions that can meet all of your business needs, including 24/7 coverage. PATlive’s digital receptionists provide professional customer service around the clock, which can significantly improve your customer relations and strengthen your relationships with current clients. With their help, you can make sure that your customers have a positive experience with your company at all times, even when you are unavailable.

    PATlive

    Additionally, the digital receptionist service guarantees that you never miss a potential lead or business opportunity, which can help you grow your business. PATlive offers a 14-day free trial feature that allows you to gain a comprehensive understanding of the product before making a decision. Additionally, the bilingual service feature enables you to communicate effectively with people speaking a language different from yours.

    With PATlive’s digital agents, you can easily book, manage, and keep track of your appointments using the software’s web-based calendaring service. This feature allows you to schedule, reschedule, and cancel appointments, as well as view upcoming appointments in a calendar format. This functionality can help you to manage your time more efficiently and productively.

    Voice Nation

    Rating 4.3/5
    Best For Live Call and Chat Answering

    Voice Nation offers top-quality automated answering services that are available 24/7 for your convenience. By signing up with Voice Nation, you gain access to a bilingual virtual receptionist that will answer your calls and respond to texts on your behalf. This feature ensures that you never miss an important call or message and can provide professional and efficient customer service to your clients.

    VoiceNation

    Additionally, when you sign up with Voice Nation, you also gain access to additional services such as order processing, message delivery, detailed reports, and a dedicated account manager that is included in each plan. With this automated answering service, you never have to send your customers to voicemail again, as you can personally attend to each customer at any time of the day. This can help you improve customer service and strengthen your relationships with your clients.

    With Voice Nation, you can customize your call script to match the type of business and clients you have. The service also offers a mobile application that is compatible with both iOS and Android devices, providing you with flexibility and convenience.

    Grasshopper

    Rating 4.5/5
    Best For Solo Enterpreneurs

    Every business has a unique selling proposition (USP) that sets it apart from the competition, and it’s important to effectively communicate that USP to customers. Grasshopper’s software includes an auto-attendant feature that allows you to use pre-recorded scripts from the software’s database.

    Grasshopper

    You can assign different scripts for different client paths to help answer your incoming calls more professionally. For an additional fee, the software also offers a professional voice studio. Grasshopper’s software allows you to switch between live operators and digital receptionists depending on your preference, giving you the flexibility to choose who handles your calls. Grasshopper offers an easy 4-step process to add a business number and integrate your smartphone with a virtual phone system, allowing you to never miss a call and present a professional image to your customers.

    Ooma

    Rating 4/5
    Best For Small Businesses without IT Departments

    Ooma is specifically designed for small businesses and includes an auto-attendant feature when setting up an account. It has a text-to-speech enabled feature and callers are greeted by a virtual assistant every time they call. You can select and assign a customized greeting which will be read out by a computer-generated voice to the caller. Additionally, the software’s dashboard includes a control panel that enables you to record audio files, which is a useful option if you are considering a virtual receptionist.

    Ooma

    Ooma is loaded with numerous features such as HD Audio, low international calling rates, a virtual fax system, mobile app integration, a complimentary toll-free number and free local phone numbers. These features are intended to enhance customer service, boost productivity, and improve overall business communication.

    This automated answering service also offers a mobile application compatible with both Android and iOS, allowing you to check voicemails on your phone anytime and anywhere. As a small business owner, cost-effectiveness is a priority, and Ooma offers smart plans for every user. As your business grows, Ooma will ensure that your phone bill remains low. Therefore, not only does your business advance, but you also have the opportunity to make significant savings on your phone bill.

    Phone.com

    Rating 3.9/5
    Best For Small Businesses and Entrepreneurs

    If you are looking for a solution to manage your metered subscriptions, phone.com is an automated answering service specifically designed for businesses with lower or fluctuating call volume. The software offers both metered and non-metered subscription plans. This allows you to customize and integrate your plans based on your specific needs and requirements. Additionally, phone.com provides access to various additional features such as live receptionist, international numbering and dialling.

    Phone.com

    The global numbers and international calling feature will be particularly beneficial for businesses with multiple marketing campaigns. Additionally, phone.com offers a wide range of features such as voice, video, text, call management, and other collaboration features commonly found in enterprise phone systems.

    Furthermore, this answering service is highly versatile and can seamlessly switch between computer and phone. It offers a variety of options such as local, toll-free, and vanity numbers.

    Vonage

    Rating 3.5/5
    Best For All Businesses including Micro Businesses

    Irrespective of the type and size of your business, it is important to have a flexible and cost-effective business plan that can help your business to grow without incurring high phone bills. An ideal plan would provide you with the necessary communication tools while keeping costs low.

    Vonage

    This can include features such as virtual phone numbers, call forwarding, voicemail, and auto-attendant, all of which can help to improve your customer service and increase your productivity. Additionally, many business communication solutions offer affordable pricing plans with different features, so you can choose the one that best fits your business needs and budget.

    Vonage offers a variety of flexible options, including over 50 phone features with the ability to add advanced features at an additional cost. The basic plan includes 18 standard features such as call recording, internet fax, conference bridge, virtual numbers and more.

    Additionally, a self-service mobile application that is compatible with both Android and iOS is available, enabling you to deploy third-party apps without needing professional services. Vonage offers a wide range of services such as contact centres, customer engagement, mobility, remote work, and more.

    8×8

    Rating 4.1/5
    Best For Unified Business Communication

    8×8 is an automated phone attendant service that operates in over 48 countries and is ideal for companies with a large number of international clients. Additionally, the software has an economical subscription plan that allows you to save money on international calls.

    8×8

    The auto-attendant software has phone number support flexibility in over 100 countries, allowing your business to expand virtually in areas where you do not have a physical presence. However, the software’s collaboration features are currently limited to file sharing and video meetings.

    Furthermore, the software utilizes AI to assist you in monitoring and managing your voice interactions, helping your team leaders and managers. The software also has an app that is compatible with both Android and iOS, allowing you to access all your business communication such as chat, video messages, voice calls, and more.

    Aircall

    Rating 4.3/5
    Best For Integration with CRM and Helpdesk Tools

    Aircall is a cloud-based auto-attendant software that is perfect for e-commerce companies, enabling them to make their call centre more remote and efficient. It is an IT-approved, cloud-based solution that is ideal for sales and marketing teams.

    aircall

    This software is also easy to set up and enables you to communicate with anyone, anywhere in the world. Aircall also comes equipped with CRM features, helpdesk solutions, and other essential apps that provide all the necessary information to clients when they call.

    Aircall allows you to manage and monitor your work, analyze calls, and measure your call metrics to make measurable improvements. It also includes features such as a cloud-based IVR menu, skill-based routing options, and more.

    Conclusion

    Regardless of the type of business you run, an automated answering service can greatly benefit your business and contribute to its growth. An automated answering service allows you to customize it to provide all necessary information to your callers. By doing so, you can greatly reduce operating costs, time and staff resources. High-quality customer service is heavily dependent on your telephone system, and customer satisfaction improves when exceptional customer service is provided.

    FAQ

    What is the best phone system for business?

    The best Business Phone Systems are as follows

    • PATlive
    • Nextiva
    • VoiceNation
    • Grasshopper
    • 8×8
    • Vonage
    • Aircall

    What is the automated phone answering system called?

    Interactive voice response (IVR) is an automated telephony system that interacts with callers, gathers information and routes calls to the appropriate recipients.

    What is an IVR dialer?

    An IVR Dialer is an automated dialer that dials numbers from a given database and plays IVR (Interactive Voice Response) messages when connected.

    What are the limitations of telephone answering machines?

    The Disadvantages of Using an Automated Phone Answering System

    • Automated Phone Systems Can Alienate Customers.
    • Automated Phone Systems Can Confuse Customers.
    • Automated Phone Systems can Malfunction
    • Automated Phone Systems can be Inefficient

  • Why Business Analysts are Important for Organisational Growth

    In today’s world, growth and development are important in every sector. There is development in technology, infrastructure, science, as well as management. This rapid growth is making lots of things go outdated. The products or services without technological changes are also out of the market now.

    There are lots of changes that are taking place in a business environment. The traditional methods and techniques can no longer make them grow and succeed. The new economic policies, as well as change in the consumer mindset, are also a threat to businesses. So, therefore, to ensure continuity, a business has to upgrade itself and make suitable changes. If the business is, then it will be difficult for the business to survive.

    Who are Business Analysts?
    Important Roles of a Business Analyst

    Who are Business Analysts?

    Who is a Business Analyst and what is his role

    Business Analysts are professionals who are experts in analyzing the changes and also creating processes to implement the changes in the business. In this business era, the competition among the brands is also at a high level. The brands with higher technology/best solutions/standardization are quickly replacing the traditional businesses.

    Therefore, business continuity and survival have somewhat become difficult for the companies, this has created the need for business analysis. So, Business Analysts became a growing professionals in this corporate world. Every business needs Business Analysts in their companies to help them survive in this highly competitive corporate world.

    Professionals keep constantly checking business performance and its positioning and keep identifying all the key areas which require change, or modifications. Business Analysts help businesses adapt to strategies effectively and efficiently.

    Important Roles of a Business Analyst

    The roles and responsibilities of a business analyst differ from business to business. Businesses in different sectors require variable business analysis, But there are common roles and responsibilities which a business analyst has to perform in an organization.

    How to Spy on Your Competition – 10 Different Ways
    Being in the startup space means a lot of competition, but how to find out if your competition is better or worse than you?. Here are 10 ways you can spy on your competition.
    StartupTalkyAnagha S

    Business Continuity
    Making Strategies
    Analyzing Upcoming Changes
    Data Analysis
    Growth of companies in comparison to growth in the sector
    Make cost-effective plans
    Analyzing and Solving Business Problems
    Future Projected Goals Analysis

    Business Continuity

    Business Analysts focus completely on understanding the business, workflow, positioning, and competency. The ability of a business to sustain itself and its capacity is understood by them. Once they collect the information and knowledge, they focus on all the points interconnected and linked with the company. They keep a factor check on such points to ensure business continuity and smoother operations.

    Market Analysis

    Business Analysts do the market analysis of the products and services offered by the business. Several factors associated with market analysis like the product, pricing, positioning, promotion, etc. are considered by analysts. Market analysis is done to ensure that the product/service offered by the business is capable to achieve its objectives. Business analysts make a complete assessment of all the marketing factors which can impact their business. In large organizations, market analysts are the ones who perform such functions, But in most organizations, it is the business analysts who focus on the market part.

    Making Strategies

    Business Analysts are also the strategy makers of the organization. They create different strategies to help the businesses continue their operations and achieve their objectives. And to do so, they build several strategies like growth strategy, market strategy, team strategy, and more.

    Top 10 Low-Cost Marketing Strategies for Startups
    Are you an entrepreneur? Are you looking to grow your business in a cheaper way? We can help you find the best low-cost marketing strategies.
    StartupTalkyNiku Mandal

    Analyzing Upcoming Changes

    Predicting upcoming changes helps the organization to prepare itself for the situation. It will give an idea of how to change things to move the business in the right direction.

    Data Analysis

    Business analysts gather information associated with the business in different ways. They collect the data and keep a record of such data, These data are used to do further planning. The analysts identify many alternatives to gather more results. Out of all these alternatives, they focus on the ones which can give maximum output to the business. For Example, they can select the one alternative which gives maximum returns in fewer resources.

    Growth of companies in comparison to growth in the sector

    The Business Analysts do the complete industry analysis in which the business is involved. If the business is dealing in the dairy industry, then they will do a complete analysis of the industry. After analysis, they will compare the growth of the business in comparison to the industry, If the business lacks behind the usual industry growth then they make sure and fix the problem.

    Make cost-effective plans

    Business Analyst's Definition
    Cost-Effective Planning

    The business always focuses on more output at minimum possible costs. So the business analysts create cost-effective plans to implement the required changes. There are often lots of ways and plans, but the ones which are less costly and impactful will be more productive for the organization. It will save the organization extra expenses. Therefore, analysts focus on making cost-effective plans to implement business changes.

    Analyzing and Solving Business Problems

    Business Analysts are much involved in solving real business problems. They identify and analyze threats and then try to solve the problems. They have to maintain their speed of solving problems before time. Analysts are much concerned with ensuring business health. Therefore, they try to solve business problems as soon as they can.

    Future Projected Goals Analysis

    A company has many future projected plans and goals. All these goals and plans are analyzed by business analysts to create a process and method to achieve the projected goals efficiently. They focus on minimizing time duration, making the best use of resources, and cost analysis. Cost analysis is usually done to make sure that the business can achieve its future projected goals under the estimated cost.

    Business Analysts work more on data, and reports and make decisions based according to such reports. The growing competition in the market is increasing the need for more business analysts in the corporate world. This makes business analysts a growing profession in the corporate world.

    Conclusion

    Business Analysts understand the requirements of the business and help in predicting the problems in future. They work towards the development of the organization by building a marketing strategy, researching the efficient way to run the business and interpreting the data, Hence business analysts are considered important for organizational growth.

    FAQS

    Who are Business Analysts?

    Business Analysts are professionals who are experts in analyzing the changes and also creating processes to implement the changes in the business.

    What is Market Analysis?

    The process of collecting information that affects a marketplace is called Market Analysis.

    Why is Business Analysis necessary?

    Business analysis is important to identify vulnerabilities and issues in the business or its strategies and help implement necessary solutions.

    Why are cost-effective plans important?

    Cost-effective plans are important because it helps the organisation to focus on more output with lower expenses.

  • What Is It Like to Be a Freelancer?

    One of the most favoured ways of working nowadays is freelancing. People are quitting their 9 to 5 jobs to enjoy the perks of being a freelancer. It wouldn’t be wrong to say that freelancing is the new trend in business. Apart from people opting for freelancing, businesses are also turning their interests into freelancers.

    If you were in a full-time job and a beginner just setting your foot in the freelancing business, you must be already in awe of the kind of lifestyle freelancing offers. Working from home, efficient hours, flexible schedule, and best of all, no boss to wander around your desk every morning complaining about your work style, what is there not to love, right? Well, maybe not. You see, what motivates thousands of people to quit their jobs and switch to freelance, are just the perks that come along with the real challenges. Sure, you are your own boss and yes, you get to choose what project you undertake and which client you work with. Yet, you can’t exactly be sure if freelancing is indeed the right choice for you.

    In this article, we will talk about what it is like to be a freelancer, we also found freelancers who shed some light on their freelancing and what it is like to be one So, without any further ado, let’s get started.

    Having Freedom
    Getting The Value of Your Work
    Work Anytime and Anywhere
    Effort and Courage Is Mandatory
    No Stable Income
    Hard to Find Work at Times

    Having Freedom

    Freedom is the most valuable aspect of a freelancer’s lifestyle. Not everyone can manage to fit into the 9 to 5 mold or appreciate the impending sense of monotony that follows along. One can work whenever they want and however they want, you are not bound to do your work in an unchangeable way.

    "As a freelancer, I don’t write status reports, I don’t attend meetings for the sake of it, I don’t do self-appraisal and have debates every quarter or so with a random person called the manager when I know nothing is going to improve. I can use that time to upskill, teach, write a book, make YouTube videos, launch apps, build and enhance my website, own a non-IT startup, collaborate with like-minded people, and launch a real estate project for employed NRIs." – Imtiaz Mohammad, Freelancer and DS & Algo trainer

    While freelancing, one of the perks is that you are being allowed to maintain an independent mindset, and also getting a chance to explore any work genre you want. The sense of freedom catches up with you and it freedom is what everyone craves for.

    Getting The Value of Your Work

    An irregular paycheck is sure a challenge as you struggle to keep up with those monthly bills. But getting paid for your project’s worth is a valuable experience just as well. With the increasing popularity of freelancing in India, the market today is ripe and open for the freelancer community and there are plenty of excellent opportunities to grab and get along with.

    "There are freelancers in India who are earning more than 1 lac per month. We have successful bloggers, web content writers, and others who are working day in and day out and earning a lot of money." – Anshu Choudhury, Counselor/Assistant Professor at Indira Gandhi National Open University and a fellow freelancer

    Work Anytime and Anywhere

    One of the biggest advantages you can take from being a freelancer is that work from anywhere and anytime you want and get paid for your work’s worth. You can work on a project that is given by a company that is from another part of the world while staying or being in a totally other parts of the world. There is independence, a flexible work schedule, and a good return value.

    "Perks of being a freelancer is that you can work over a boat as long as your mobile has a hotspot and laptop has enough charge. You need to take a faithful leap once you are sure that you can go along very well with freelancing.’ People are choosing this field as a full-time career because of freedom. You can travel anywhere in the world and enjoy the food of different countries, meet new people and most importantly earn loads of money." – Amit Ghosh, CEO of aeron7.com and a featured freelancer

    Effort and Courage Is Mandatory

    Despite all its merits, freelancing in India is a tough business with immense competition to sail through and immense fellow competitors to learn from. The problem here is as a freelancer, your workflow tends to get extremely erratic, from loaded work hours to dismal bank statements. The key is to stay put and keep trying, to learn, gain clients, or land gigs.

    "I would often end up on sites with black backgrounds reading a brand new technique and then another, and another. The more I learned, the more work there was for me to do – and every new technique I learned usually resulted in more and more work, with little to no money in returns." – Subhash Chandra, Co-Founder RiseMetric and a successful freelancer

    Setting up your working style and staying confident of your methods is one of the best things you have to learn, while living your life as a freelancer. Only that it doesn’t come so easy. It is earned through years of practice and passionate eccentricity.

    No Stable Income

    You won’t get fixed income while working as a freelancer, especially in India. Because sometimes you will get too much work and suddenly there will be no work at all. It’s not like a full-time job where you can get a monthly paycheck. Here everything depends upon your work and how you handle your existing clients.

    If you maintain a good relationship with your clients, you will get regular work. But in many cases, you have to save a lot of money for your survival. Though there are so many new opportunities coming in the market that offers regular work and for long-term, but to get those types of work you have to establish yourself as a successful freelancer.

    Hard to Find Work at Times

    One of the toughest challenges one faces while making a living as a freelancer is the lack of a regular workflow. Being a beginner with little experience of the freelancing environment simply makes things harder.

    "The first customer is the hardest to get, so better make sure you do your best with your first." – Anubhav Yadav, a freelancer from Pune

    There might be times when you are decked up with multiple projects and times when your hours run free at a miserable stretch. The point is, given the randomness of hiring candidates from the pool and the nature of the business, that is almost normal. Nearly every seasoned freelancer has had his or her brush with the ‘empty desk syndrome’ and each one will advise you to stick it on.

    Conclusion

    Freelancing is definitely one of the most popular ways of working and earning money nowadays. There 31.4.5 of the total workforce in the world are freelancers At the rate, that it is increasing, in a few years it might become the majority way of working. Just like everything freelancing has its advantages and disadvantages, one needs to check all the pros and cons and then opt for it.

    FAQs

    How many freelancers are there in the world?

    As of now, 1.1 billion freelancers are there in the world.

    Is freelancing safe in India?

    Freelancing is one of the safest ways of working and earning money in India.

    Are freelancers happier?

    76% of workers feel happier while freelancing instead of doing a traditional job.

  • The Step by Step Guide for Writing a Business Plan

    A business plan decides the future of a business. It’s working, profit, features, everything is provided in a business plan. But there is no universally accepted template of a business plan – it tends to differ from company to company, owner to owner, product to product, and service to service.

    Steps in writing a business plan are very very important, which is why you need to learn how to write a business plan step by step. No matter what the format of the document is, certain sections and components just can’t be missed out, which is why everyone must know how to write up a business plan. Since many people don’t know how to write a business plan.

    This write-up is going to present the important points of an ultimate business plan in parts of Essential sections, business planning tips, and general tips.

    Essential Sections Of A Business Plan
    Sales And Marketing Figure
    Operating Strategy
    Executive Summary
    Target Market Analysis
    Product Or Service In Question
    Management And Advisory Committee
    Financial Summary
    Future Requirements
    Competitive Analysis
    Some Tips And Business Plan Suggestions
    Avoid These Mistakes While Drafting a Business Plan
    FAQs

    5 must have business etiquettes | Professional Ethics
    While good communication skills and intellect can land you with a job. Etiquetteand manner would help you build stronger professional relationships. For growthin any field it is necessary that you must possess manners along with therequired skill. To be able to maintain healthy relationships wit…
    StartupTalkyAyush Verma

    Essential Sections of a Business Plan

    How to start a business plan? The first step to write a business plan is portraying it’s Motto and Vision. Quite catchy slides or print-ups with interesting quotes and catchy vocabulary doesn’t make it an excellent business plan. Remember, the vision and mission are two important factors of an excellent business plan section, you can also check some samples of a business plan to get an idea of it and come up with your own.

    One of the top business plan tips is writing a simple one-liner that exudes the vision of one’s venture, creating a formidable impression on potential investors instead of long descriptive write-ups with no mention of the vision and the motto of business.

    Sales and Marketing Figure

    As the sharks on “Shark Tanks” say let’s talk about numbers because business is all about numbers, isn’t it? So this section is an insight into the true potential of the business. It highlights the existing funds raised, predicted sales over the financial year, marketing costs, and ROI, etc, and is an important part of any small business plan.

    The key point of writing a business plan is not to exaggerate or bluff data in any way. The tip for writing a good business plan is providing data about the real sales of the business and giving a pictorial representation such as charts and graphs to elucidate the intended message. It’s better than creating a large table, spanning over several slides or pages. You can also check the best business plan template to understand how it can be written.

    Also, give an estimate of the turnover that the business is planning to make in the upcoming year. This will eventually make the investor ponder about the investment portfolio. These are the main things to remember if you don’t know how to write a business proposal.

    sales and marketing go hand in hand
    Sales and Marketing go hand in hand

    Operating Strategy

    The major purpose and hassle of creating a business plan is to decide the operating strategy of how the entire business will operate as this is the part of writing a great business plan. Every good business plan will describe the process flow in terms of how the entire business would operate and endeavor. After all, any execution method is best understood when one is aware of its algorithm, in other words how the execution process takes place, because that is what is the bottom line of all the hard work.

    How to Do Market Research For Your Startup
    How to Do Market Research For Your Startup ? A big question for persons havingstartup idea. It is great to have an idea that expects to capture the hearts andminds of consumers everywhere or perhaps stumbling upon a service that isn’tbeing offered by anyone else, hopefully, a service or product t…
    StartupTalkyParnas Ghosh

    Executive Summary

    Many people don’t know how to write a business plan executive summary. The ultimate business plan is usually confined to a page or two, the executive summary ought to paint the entire picture without going into further details. The value proposition is an essential component of this summary and shouldn’t be skipped.

    It’s advised to write the executive summary after drafting the entire business plan because by picking important ideas from other sections of the document, a concise crux can be formulated. You can follow many guides to writing a business plan or check for a free business plan template to make sure you haven’t missed anything.

    Target Market Analysis

    A no-brainer would be aiming to sell the product or service to everyone out there without any research and analysis which is why writing a business plan is important. This is the main part of how to write a business plan. A niche item would attract only a particular segment of the customers. When you write up a business plan it is necessary to let whoever is reviewing the business plan to figure out the audience that the venture is targeting.

    Product or Service in Question

    Imagine you are on a flight and don’t know the destination of it, will it make any sense? No of course, right? Likewise, without specifying the product and its specifications that the business intends to disseminate, it makes the entire document meaningless. Among all the steps to write a business plan, it is an important step to add specifications of the product.

    Are you going to explain a chemistry experiment without specifying the substances and compounds involved? A startup business plan will always have a list of product dimensions, working, identified flaws and workarounds, usage, demand in the market, etc. A description should be mentally stimulating so that the customer can envision the entire thing before owning it.

    10 Highly Sold Sales and Marketing Books of all the Time
    Benjamin Franklin said “Experience keeps a dear school, but fools will learn inno other.” In other words, you can rely solely on first-hand experiences to gainsales knowledge but it might be painful. There are plenty of blogs and websitesdedicated to SaaS out there, but sometimes nothing beats a …
    StartupTalkyRishabh Rathi

    Management and Advisory Committee

    The business plan must include a section that consists of a short profile of each member involved in the startup/company. This is the top business plan tip as it provides a parameter to evaluate the credibility of the business from the eyes of a VC or Angel Investor. It is the main part of how to do a business plan. The reasoning is clear—the ethics, personality, and various other attributes of the founder and his team are reflected in the final product.

    This may seem absurd to some but pondering over it does ring a bell as it is setting up a business plan. Also, if the business is being mentored by some kind of advisory committee, it is a testament to the fact that the business can turn profitable otherwise experienced individuals would have stayed away from guiding such a venture and that is why it is an important part of business plans for any startups.

    Financial Summary

    Not to be confused with the sales figure section, the financial summary resembles a probable balance sheet and this is one of the top business planning tips. Revenue projections give an idea of the rewards you expect for the efforts you put in running the business because the numbers on the plan will surely speak your company’s story to the presenters because as mentioned earlier, numbers play all the game in business. A financial summary is part of a good business plan.

    Future Requirements

    One reason which makes a businessman work hard is the growth of its business in the future and a sample of the business plan must have this. Even if it is a small business plan, it must have future requirements as the future needs are going to vary when compared to the current ones.

    For example, if the investment required at present is a six-digit figure, it may become an eight-digit one to sustain the business as time progresses. However, justification of the predicted requirements ought to be mentioned to make sense. You can check free business plan templates to see how this can be listed out.

    How to get Media’s Attention Towards your Startup?
    Media runs the world. They can make someone billionaire, declare someone dead,make you believe in fake news, etc. No matter how much you hate or love media,it becomes the same for everyone when it comes to business. Many media houses might be so negative, but they still are important for everyb…
    StartupTalkyParnas Ghosh

    Competitive Analysis

    While writing a business plan you don’t want to create a rip-off. The idea is to be unique with one or more unique selling points to stand out from rivals in the same segment. This is among the important steps to write a business plan, an analysis with existing products with nearly the same functionality helps to bring out the USP and also gives you the scale to make your product better than the competitors. Any guide to writing a business plan will have a competitive analysis in it.

    Guide to Writing A Business Plan

    Some Tips and Business Plan Suggestions

    • Don’t make the business plan boring by leaving out graphics. Not losing the listener or reader’s attention determines the outcome is one of the best tips for writing a business plan.
    • The best business plans include an appendix to make traversing across the document easily.
    • Executive summary in the beginning or at the end won’t make much of a difference as long as the entire plan is cohesive and is part of a good business plan.
    • There are various types of business plans, you can figure out want you want by looking for the best business plan template. Research about them before choosing a free business plan template.
    • Don’t read it out like a textbook when presenting the plan somewhere. It is one of the main steps in writing a business plan and you should know the key points and themes to sound convincing.
    • Every startup business plan details the strengths and weaknesses of the business, and how you are going to seize the opportunity if provided.
    • One of the other business planning tips is using the same indentation and formatting throughout the document. The sudden transition from a times new roman 16 to comic sans 24 can be disturbing and agonizing.
    • While writing up a business plan, make it a story-based interactive session because no one likes to listen to lectures where you are not allowed to interact. The more people are going to interact, the more they will indulge in your business plan.
    • The most important tip while writing a business plan, be the master of the plan that you have created to monitor your business. Go through each point thoroughly, make sure you are aware of all the numbers, all the future expectations, and anticipations, growth, etc. Make sure you are satisfied with the small business plan you have created.

    Top 10 Best Marketing Strategies for Your Product Launch
    Every creator has the dream of launching its product with huge pomp and show.For this, the prototype has taken shape; the long time spent in R&D phase hasborne fruit. But a major task is till undone—preparing for the product launch. The big day is a make-or-break situation; propagating the right …
    StartupTalkyNiku Mandal

    Avoid these Mistakes while drafting a Business Plan

    Drafting a business plan requires intense focus and integrity as it forms the backbone of the entire business. Many people get confused about how to write a business proposal. Remember that when you are writing a business plan it should outline both the present and future strategy of the business, elucidate necessary points, facts, and stats around which it revolves.

    Simply put, it can make or break everything at stake. You can check out the best business plan template to avoid making these mistakes. Here is a list of dont’s that should be kept in mind while creating your ultimate business plan:-

    Worn out Phrases

    Phrases like ‘disruptive’ and game-changing are over-used and stale; avoid using them in the draft. These words may show what the business is but evade its idea in an actual sense. Avoiding worn-out phrases is a part of the steps to writing a good business plan.

    The plan here is to make the readers/clients/investors resonate with the business plan and convey the right message when propagated to others. Moreover, cliched expressions make you sound over-ambitious and over-confident in nature and is not good for a good business plan. It might be the greatest plan on the planet but claims that are beyond your capabilities are a bummer.

    Don’t use the word ‘DONE’ to Describe your Business

    The theory behind the working of a business plan is that it keeps on going forever; business is a cycle of implement-improve-repeat. Using ‘done’ may put an end to your aspirations outlined in the business plan. If you want an ultimate business plan process then you should PLAN-RUN-REVIEW-REVISE when repeated takes the business to the next level.

    This is why when you are writing a great business plan, using the words finished and done makes the plan one-dimensional and less prone to getting success. Always keep it open-ended in nature and sound optimistic throughout the draft and follow all steps in writing a business plan.

    Never Calculate the Sales from a Big Market

    At the same time, don’t consider the segment you’re targeting as a small percentage of a large market. Forecast the details like stores, distributors, users, subscribers, click and emails, etc. Keep everything upwards, not downwards in business plans for startups.

    Avoid Extreme and Unsupported Optimism

    Not involving the risk factors involved can be a deranged factor for the company’s future if the words mentioned in the business plan take twice as long to make half as much as forecast.

    Don’t Fill The Business Plan With The Product’s Or Service’s Technical Specification Or Characteristics. Keep it at a minimum. Emphasize more on questions like:

    • What problem are you going to solve for the client?
    • How are you going to solve the problem?
    • What is the product’s value proposition?

    Outline the answers to these questions in your business plan. Be careful about what you put in the business plan because it’s your business canvas while setting up a business plan. Deliberate thoroughly, ponder all possibilities and points, don’t make wild claims, stick to the facts, and finally avoid the mistakes explained above!

    Best Revenue Model for Startups | Business Model in 2020
    Every startup builds a business model that is viable and promises huge returnsafter a specific time frame. But for a business to sustain itself in this highlycompetitive ecosystem, earning revenue along with some investments is important.So, here are some revenue model [/tag/revenue/]i.e. a chann…
    StartupTalkyPiyush Mishra

    FAQs

    What is the most important part of a business plan?

    The executive summary is the most important part of your business plan, and perhaps the only one that will get read, so make it perfect! The executive summary has only one objective: get the investor to read the rest of your business plan.

    What is in a good business plan?

    A company often needs a business plan before it can borrow money from a bank. Good plans are usually highly detailed and include information on all aspects of the business, including the industry, marketing, personnel, finance, and various operating procedures.

    What are the 4 types of business plans?

    Business plans can be divided roughly into four distinct types:

    • Short plans, or mini-plans
    • Presentation plans or decks
    • Working plans
    • What-if plans

    What are the steps to writing a business plan?

    Business plan Steps:

    • The executive summary.
    • Who are your customers?
    • Evaluate the target audience.
    • What are your opportunities?
    • Understand the competition.
    • Build a simple financial plan.
    • Include an outline marketing plan.
    • Plan your operations.

  • How to become a Business Analyst in 2021 (Complete Guide)

    Any form of business requires a multidimensional approach. It requires coordination between them as well. With the ever increasing globalisation and mechanisation, it is highly important to avoid gaps and discrepancies as far as businesses are concerned.

    This also means that there should be a connection between the IT related nuances and the business related realities. No aspects will work as independent entities any more.

    A Business Analyst is a person who bridges this gap. They are capable of effectively planning and predicting the behaviour of a business model through well informed technical tools that fit the firm.

    Data analytics is considered one of the most important arms of industry 4.0 and its scope in the future is predictable. If you are a science person who loves to be in the corporate world, then business analysis which comes under data analytics is the right choice for you. This emerging high potential job has a few prerequisites and a few steps before becoming one yourself. This article guides you through the details on how to become a Business Analyst in 2021.

    Who is a Business Analyst?
    Skills needed for a Business Analyst
    How to Become a Business Analyst
    Online Certification Courses for Business Analyst
    FAQ

    Who is a Business Analyst?

    Business Analysts are those who engage with large contents of data to derive patterns of occurrences. Their scrutiny will help improve the quality and efficiency of the business firm. They will help in understanding places where there is a performance gap and will suggest a better option to mitigate them.

    They focus on functions and processes of an organisation. As mentioned earlier, they serve as the mediators between technology and commerce. Through data analysis, business analysts become capable of simplifying complicated tasks into simpler ones by giving data driven recommendations.

    They strategically plan things for the company to reduce the chances of failure as much as possible. It requires a deep understanding about both market scenarios and information technology. The four main types of planning that business analysts do are :

    • Strategic planning – Depending on the needs of the company
    • Process design – Planning the flow of procedures
    • Business model analysis – To propose different market approaches and business strategies
    • Systems analysis – Based on the technical requirements

    Top 8 Successful Digital Entrepreneurs in India
    India has produced many billionaires and successful businessmen. So, Here are top entrepreneurs who have expertise in their field of interest and business.
    StartupTalkyPratyusha Srivastava

    Skills needed for a Business Analyst

    Scientific temperament

    You are going to deal with big data and technology which are highly scientific. It demands you to be curious about new things, especially scientific ones. Only if you are able to understand the science of functioning can you identify the problems and recommend a feasible solution.

    Critical Thinking

    It can also be read as analytical thinking. As a business analyst, you serve as a link between information / data and business. In order to derive connections and solutions, one should be able to critically analyse the data available.

    It is because no observations will be implicit and the data analyst in fact has to decipher the problems and solutions from the data. Hence, a business analysts should be capable of critical thinking

    Organisational Skills

    It is important to properly classify the data available to get the best out of it. Although this is mechanically done, it is important to keep track of the data organisation.

    Carelessly organised data can give distorted results which will further affect the analysis. So be sure to develop a habit of organising things right from your own bedroom. Let that be a part of your lifestyle.

    Communication Skills

    Business Analysis is not a job done by a single person. It is not humanly possible also. Hence, many business analysts in a firm come together to discuss and collate their observations to reach a fruitful conclusion.

    To facilitate this, it is very important to have good communication skills. It is not only to put across your observations and inferences but also to absorb the most valuable information from others as well.

    Documentation Skills

    Keeping track of things is one of the most important parts of a Business Analyst’s job. They are to document the variations in the functions and processes of the firm so as to provide appropriate recommendations. Apart from that, such documentation is required for deriving a particular information from a different point of time.

    Challenges Entrepreneurs Face
    Everyone thinks of becoming one with their “One in a million” idea. So, here are some problems which you will face in your entrepreneurial journey and some truth about startup life.
    StartupTalkyVidhi Punamiya

    How to Become a Business Analyst

    Considering the amount of technicalities behind the work that a business analyst needs to do, it is always better to train yourself professionally. However, the option to self learn is always open. Today you have a lot of courses on the same.

    Undergraduation

    If you are going for an undergraduate degree, go for a Bachelor in Business Administration in fields that you like. Some colleges offer courses in business analytics. But be mindful that it is different from business analysis. However, the fields are related and will definitely help you in your studies.

    During this time, learn more about computer programming as much as you can. Analysing case studies of different kinds will also help you in being a better candidate.

    Higher Education

    You can either go for an MBA which specialises in Business Analytics or allied subjects. Such a programme will really help you in further dwelling into the intricacies of the wide subject and will make you a pro. A postgraduate certificate will definitely aid you in getting good positions.

    Another thing you can do is that many international firms offer specialisation certificates that are widely approved. You can try undergoing their courses and earn your certificates. Some of these certificates are

    • IIBA Entry Certificate in Business Analysis (ECBA)
    • IQBBA Certified Foundation Level Business Analyst (CFLBA)
    • IIBA Certification of Competency in Business Analysis (CCBA)
    • PMI Professional in Business Analysis (PBA)
    • IIBA Agile Analysis Certification (AAC)
    • IIBA Certified Business Analyst Professional (CBAP)
    • IREB Certified Professional for Requirements Engineering (CPRE)

    These courses will help you in getting a senior Business Analyst position.

    Online Certification Courses for Business Analyst

    • The Complete Business Analysis Fundamentals Course + CERT by Udemy
    • Business Analysis and Project Management by Coursera
    • Introduction to Business Analysis Using Spreadsheets by Coursera
    • Excel to MySQL: Analytic Techniques for Business Specialisation by Coursera
    • Business Analysis and Fundamentals by Udemy
    • Business Analyst : Project Management Techniques and Tools by Udemy
    • Business Analysis Modelling Skills and Techniques by Udemy
    • Business and Data Analytic Skills by Edx
    • Business Analysis: Developing Requirements by Udemy

    FAQ

    What is the main role of a business analyst?

    Business Analyst bridge the gap between IT and business using data analytics to data-driven deliver reports to executives.

    What qualifications do I need to be a business analyst?

    You require an Undergraduate degree in computer science, business information systems, computing and systems development, and business management.

    How much does a a Business Analyst in India make?

    The average salary for Business Analyst in India is ₹7,00,000 per year.