StartupTalky

Tag: Business Model

  • Milestones Every Entrepreneur Should be Thriving for Success of Their Startups

    Milestones are a great way to keep track of what you’ve accomplished in your life. And, when it comes to your startup, you should be aware of the milestones that are required and those that have the most impact on your company. Achieving a goal is always a great feeling, and it’s especially crucial for startups since it propels the company to the next level of success.

    Milestones are like stepping stones to a successful business, and it’s critical to create proper milestones to keep track of your startup’s progress and keep it on the correct track. Following are some meaningful milestones you should be focusing on hitting if you want to have a successful startup.

    Milestones for a Successful Startups
    1. Creating a Proper Business Model
    2. Set up a Business Bank Account
    3. Launching a Website
    4. Hiring Important People For Your Business
    5. Make a Functioning Prototype
    6. Collecting and Reviewing Feedback
    7. Official Product Launch
    8. Signing Up of New Paying Customers
    9. Have An Excellent Customer Service
    10. Growth Of The Customer Base
    Conclusion
    FAQs

    Secrets for Startup Success

    Milestones for a Successful Startups

    1. Creating a Proper Business Model

    Proper Business Model - Startup Milestones
    Proper Business Model – Startup Milestones

    It is one of the most important objectives that a startup should strive for. The model should be simple to comprehend, but it must also grow through time and include all of the aspects that changing time necessitates. The business model should tell everything about the project and explain to the investor about the working of the business.

    2. Set up a Business Bank Account

    One should always separate their personal and business accounts. It is usually the most intimidating thing in the world when you are starting a new business. And you’ll need two separate accounts for your personal and business assets to keep everything in order.

    3. Launching a Website

    When you build a business website, it becomes official, and the majority of people will learn about it. If your company does not have an online presence in current times, it will most likely suffer. Launching a website for your company will boost its legitimacy and make it more accessible to customers.

    4. Hiring Important People For Your Business

    Bringing the proper people on board assures that they will grow with you, boosting your company’s overall success and decreasing the need to hire for any new leadership role that arises down the road. When the right people are doing the right jobs, the efficiency sky rockets and is ultimately good for the company.

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    5. Make a Functioning Prototype

    The creation of the first ever working prototype is the next milestone. This is how companies begin by developing their initial product. The prototype leads to the finished product, and the finished product leads to customers, which leads to profit.

    6. Collecting and Reviewing Feedback

    Collecting feedback throughout the introduction of prototypes and minimum viable products will save you time and money in the long run by revealing the product’s market position and future possibilities. Take your time collecting data and reviewing feedback, since this will assist you in creating the ideal product to meet demand.

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    7. Official Product Launch

    For a startup, nothing is more stressful than the first product launch. The first ever launch decides the new reputation of the company amongst the customers and whether it will be valued in the market or not.

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    8. Signing Up of New Paying Customers

    Your company will begin to receive paying customers after formally introducing the new product, and this is the best moment for the startup to keep the customers hooked and keep them coming back. Once the product is published, a small number of new consumers will try it out, and if they enjoy it, they will recommend it to others, resulting in a pool of devoted customers.

    9. Have An Excellent Customer Service

    If the product is good but the customer service is poor, the total quality of the experience will suffer, the product’s market value will fall, and customers may begin to migrate to a company with superior customer service. Invest in it and hire people who are qualified for the job. A company’s image, especially that of a startup, can be made or broken by its customer service.

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    10. Growth Of The Customer Base

    Keep track of customer growth and the amount of new customers you obtain daily and monthly once the business is up and running and the initial product sales are happening. This will aid in the general expansion of the company and its consumer base. A large customer base equals more earnings and more individuals using and promoting your product. Make a daily and monthly goal for yourself so that you always have something to strive for. This will aid in the improvement of profit strategies and the efficiency of work.

    Conclusion

    You achieve a new milestone with every new sale or product you create. However, there are some milestones that are far too essential to overlook, and you should keep track of them to ensure that you are running your business correctly. Milestones keep you on track for your goals, and striving for them will make your work more efficient, and when you achieve them, you’ll feel more productive and optimistic about your business.

    Different business milestones have different effects on the company but the ultimate goal is to earn money and expand the business. Keeping track of records and recruiting the correct personnel for the job will aid in growth and help you reach your milestones faster. However, the most important thing is to not only maintain track of the business, but also to look after yourself and the people who are helping you reach your goals.

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    FAQs

    What makes a startup successful?

    The characteristics that propel a startup to success are proper workplace culture, vision, and teamwork.

    What is the most important thing an entrepreneur should do before starting a business?

    According to experts, analyzing rivals, examining the legal elements of your sector, evaluating your income and expenses, being practical about the risk involved, understanding timing, and hiring aid are all good first steps in beginning a business.

    What is a milestone in entrepreneurship?

    Milestones are business goals that include dates and the individual or team accountable.

  • Pixabay- How Does This Free Stock Photography Site Make Money?

    Images, illustrations, videos are something we all need today. No matter the occasion or need, whenever we want any image, we Google it.

    The moment Google images open, we can see an unlimited range of images to select from. But all these images are not free from copyrights.

    If you want some images for your work, then it is not correct to use the images with copyrights. So, here comes Pixabay to your rescue. It has images, illustrations, videos, and music. The best part is all these are free from copyright.

    Pixabay is like a blessing for creatives. It has attained great success over time with its easy-to-use services. It has a custom Pixabay license that allows you to use the content without any permission.

    What is Pixabay?
    Things to Keep in Mind While Using Pixabay
    How does Pixabay Make Money?
    Can you Upload Photos and Make Money on Pixabay?
    What Makes Pixabay Stand Out?
    FAQ

    What is Pixabay?

    Pixabay Homepage
    Pixabay Homepage

    Pixabay is a website that provides free photography and media. The content available on the site is free from any copyrights as it belongs under the license of Pixabay.

    It is a popular website for sharing images, graphics, illustrations, music, video, etc. Most of the material available is free with certain restrictions.

    One can use this content for market purposes as well without permission.

    Pixabay was launched in the year 2010. It is the creation of Hans Baxmeier and Simon Steinberger.

    Hans Baxmeier and Simon Steinberger
    Hans Baxmeier and Simon Steinberger

    Things to Keep in Mind While Using Pixabay

    Dos:

    • The content on Pixabay is available to the users for free. They can use it for any purpose as they like.
    • It is not mandatory to acknowledge the source of content to anyone.
    • One can make alterations in the Pixabay content according to the needs.

    Don’ts:

    The free stock image website has certain restrictions for its users. These include:

    • The users cannot take content from the site and resell it on other platforms.
    • Make sure that you don’t portray identifiable people in an offensive manner.
    • Remember not to use the exact image content from the site as a physical product.

    How does Pixabay Make Money?

    Pixabay is a website that provides free images, illustrations, graphics, and more. It is a great platform for creatives.

    Since the site is quite popular now, it attracts huge traffic towards it. There are various ways to monetize traffic. Some of them include:

    Traffic

    Traffic is the king for any website to be successful. There is no point in a site if it does not attract traffic. Pixabay offers unique products and services that too free of cost. This quality makes it a popular site in the creative market.

    Over the years, Pixabay has been able to attract quite a great amount of traffic. It has about 36 million total visits. It possesses a monthly growth rate of 6.39%.

    SEO

    SEO stands for Search Engine Optimization. In simple words, it means to enhance the website as per the search engines (Like Google).

    Pixabay is altered according to the search engines. This helps the site to stand out from the plethora of websites available. SEO helps to attract organic traffic towards the website of Pixabay. This in turn helps Pixabay to monetize.

    Social Media

    The popularity of social media is increasing by the day. It provides a huge active user base. Pixabay also has its social media presence. The easy accessibility of links over the social media platforms, helps the site to gain traffic.

    Pixabay’s Instagram handle has 77.6k followers and the site link available in the bio. It also engages in hashtags for its growth potential. The hashtag is #madewithpixabay.

    Pixabay Instagram
    Pixabay Instagram

    Over the years, Pixabay has earned a strong follower base on social media. This is another way that helps the site to earn money.

    Email Listing

    Pixabay is a website that offers free products. So, one of the best sources of monetization is email marketing. This helps the site to maintain its user base.

    Email promotions get done by delivering free reports that contain affiliate links in them. Thus, monetization for the site takes place.

    Once a user subscribes or signs up to the site, this process can begin. These emails are automated. It means they get delivered automatically whenever a user signs up. In this way, it targets genuine users and does not send spam emails.

    Advertising

    Pixabay also earns some money from advertising. When you go to Pixabay and look for images, you will find images from Shuttershock.

    These images are more professional. These are not free; one needs to pay to have these. In this way, Pixabay acts as an affiliate for advertising Shuttershock.

    Can you Upload Photos and Make Money on Pixabay?

    The answer to the first part is yes. Yes, you can upload images, illustrations, or other content on the website. But you cannot earn from it. Unlike other websites, Pixabay does not pay the artists for it.

    One can upload the content on the website to reach a wide audience around the world. Consider it a charity of art and a tool to earn an audience.

    What Makes Pixabay Stand Out?

    A number of sites give access to free images. Pixabay not only offers free images but also other content. This includes illustrations, vector, and video content.

    The best part is you can enjoy all this creative content for free.

    What is Vector Graphics?

    A vector graphic is an image that is made up of separate colour blocks. Unlike a regular image, its pixels are not combined but are built by mathematical formulas. This allows a person to modify every part of the image separately.

    These are created in a design studio. So, if you have ever made something on Adobe photoshop, it means you have made a vector file.

    For example- if you create a vector scenery in a design suite, you can alter every element of it. You can change the colour of trees, mountains and more. Pixabay even provides these vector images for free.

    Conclusion

    Pixabay is a great platform to get images and other graphics for free. It is a super useful platform for beginners in the creative field. It gives access to a wide range of images, illustrations, videos, and vectors to experiment with.

    Pixabay makes money through its traffic, social media, email, and affiliate marketing. All this has helped the site to function in an efficient manner. In 2019, Canva acquired Pixabay. Now, the users can have access to Pixabay’s images through the platform of Canva.

    FAQ

    Is Pixabay really free?

    Yes, Pixabay offers images, videos, and music for commercial and noncommercial use.

    Does Canva own Pixabay?

    Yes, Pixabay and Pexels were acquired by Canva in 2019.

    How much does Pixabay cost?

    Pixabay provides images that are free for anyone to download.

  • Google Pay – Money Made Simple

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Google Pay.

    Do you want a single platform for managing UPI money transfer, phone recharge, QR code payments, bill payments, and other cashless transactions? Your search ends with Google Pay. A robust platform that enables you to go cashless, Google Pay has established itself as one of the top names in the digital payments segment. Bank transfers, sending and receiving money, online shopping, and several other services have become as easy as cracking an egg with Google Pay.

    Millions of Indians now rely on this Google offering for all their payment-related needs. And the number continues to increase with each passing day. StartupTalky covers the Google Pay success story in this post. So, dive into it below:

    Google Pay – Company Highlights

    Startup Name Google Pay
    Headquarters Google, US
    Sector Fintech
    Founders Sujith Narayanan and Sumit Gwalani
    Founded September 11, 2015, and then renewed on January 8, 2018
    Website pay.google.com

    Google Pay – Latest News

    December 21, 2021 – Google Pay and Mastercard ties up to enable the GPay users to transact with their Mastercards via token, without having to use their debit card details.

    Google Pay – About
    Google Pay – Startup Story
    Google Pay – Founders And Team
    Google Pay – Name, Tagline And Logo
    Google Pay – Business and Revenue Model
    Google Pay – Challenges Faced
    Google Pay – Growth
    Google Pay – Partnerships
    Google Pay – Competitors
    Google Pay – Future Plans
    Google Pay – FAQs

    Google Pay – About

    Google Pay, often referred as G Pay is founded on May 26, 2011. Starting initially as Google Wallet, the digital payments platform has changed its name to Android Pay later on September 11, 2015. The app was then launched as Tez before finally settling on the name Google Pay on August 28, 2018.  

    Google Pay serves as a digital wallet-cum-online payment system developed by Google. The Google-powered digital payments platform enables the users to make contactless payments and purchases online via android phones, watches and tablets. iOS is another platform that supports G Pay for the users of India and the United States but with some restrictions. Google Pay works with Android Lollipop 5.0 and above.

    The second most popular UPI platform in India helps the users to pay other merchants and individual users via the Tez mode, using QR codes, and through phone numbers.

    The app is currently available for the users of 42 countries, as of 2021.  

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    Google Pay – Startup Story

    Google Pay was originally developed as Android Pay and was first released at Google I/O in 2015. This application was primarily modeled on Google Wallet that was released back in 2011. The technology of Android Pay was influenced by Softcard’s technology. Google then launched the payments app, Tez on September 18, 2017, pivoting the UPI system. Tez was later rebranded to Google Pay on August 28, 2018.

    According to Sujith Narayanan, the Co-founder of Google Pay, it was while working on Google Tez (another offering by Google), he and his team realized that a consumer’s financial journey extends beyond digital payments. Moreover, there was a need to concentrate on the millennials in India and give them a new, fast and efficient way to handle their finances.

    The founding duo finally decided on a product called ‘Google Pay’, which would redefine financial services for the millennials. Google Tez, a mobile payment service by Google that targeted users in India, laid the framework for Google Pay. Think of Google Pay as a superior version of Google Tez coupled with a plethora of offerings.

    Google Pay – Founders And Team

    Sujith Narayanan and Sumit Gwalani are the brains behind Google Pay.

    Sumit Gwalani (left) and Sujith Narayanan (right)

    Sujith Narayanan

    Sujith Narayanan is the co-creator of Google Tez along with Sumit. Sujith is a veteran payments executive and has an enviable experience in the domain of financial services. He is also known as the co-founder of the neo-banking startup EpiFi. Sujith is an alumnus of the University of Calibut and Mahatma Gandhi University. Starting his career with Standard Chartered Bank, Sujith eventually resigned after 7 years as a National Sales Manager of the organization. He then joined Religare Macquarie Private Wealth as the Vice-President – Marketing and Channel Development before moving on to join Google.

    Sumit Gwalani

    Along with co-founding G Pay, Sumit Gwalani played an instrumental role alongside Sujith in starting EpiFi. He handled Google Tez’s operations in India. Sumit spent 12+ years at Google where he donned multiple hats. Sumit was a Research Assistant at the University of Columbia, Santa Barbara, before joining Trlokom as a Software Architect and eventually joining Google. Gwalani was a Computer Engineering student at the University of Mumbai from where he completed his Btech degree before pursuing a Masters in Computer Science from the University of Santa Barbara.  

    Google Pay is styled as G Pay. The logo of G Pay is cleverly crafted with the Google logo on one side and “Pay” on the other.

    Google Pay’s tagline is “Money made simple”. A meaningful and interesting tagline, isn’t it? With Google Pay, handling money has become easier than ever.

    Google Pay Logo

    Google Pay – Business and Revenue Model

    Google Pay does not charge its users for their access to Google Wallet. GPay allows its users to send money to bank accounts directly and for free. Previously, the company had an agenda of adding a 2.9% fee upon topping up wallets via debit card, which has been taken off.

    Being a digital payments platform, Google Pay mainly collects its revenues via transaction-based fees that it collects from the online and in-app payments of the banks and merchants. Advertisements and product offers within the Google Pay app are some other revenue streams of the company. It also earns considerably by using the users’ data that it collects.

    In 2017 Google Pay had earlier witnessed a growth of its monthly active users, which was recorded at 67 million. The same has presently estimated at 150 million, as of 2021.

    The app has enabled more than 2.5 billion transactions and currently has got a running rate of US $110+ billion in transaction value. Moreover, it is also important to note that now Google Pay also gives the users the privilege of paying over 200,000 stores that are based in more than 3500 cities and towns, and to 2700+ online merchants.

    Google Pay – Challenges Faced

    With the backing from Google, one of the largest organizations in the world, Google Pay wasn’t subjected to the problems that small-scale businesses and startups face while starting out. Neither was there any dearth of resources. Though not exactly a challenge, a technical glitch on Google Pay’s app in 2020 did become a trending topic for some time.

    Several users reported the app saying that their bank accounts were removed from Google Pay without any notice. Complaints on the matter were frequently posted on social media platforms. However, the issue did not bring about any serious consequences. The Google Pay team suggested that it might have been an unintentional action on the users’ part that delinked the app and bank accounts. A fix was implemented by the team and the situation was restored to normalcy. Google India issued a statement when it was asked by NDTV Gadgets 360 regarding the glitch.

    Ambarish Kenghe, the Director of Product Management at Google Pay said, “We are aware that some users faced difficulties with linking their bank accounts on Google Pay today. The issue, impacting a small number of users, was identified earlier today and our teams have worked to resolve it and have implemented a fix within the hour. The issue stands resolved and users will now be able to use the app normally. Users facing any issue should reach out to Google Pay support through our app. We regret the inconvenience caused and are committed to providing our users a seamless payments experience.”

    Google Pay – Growth

    In the year 2018-19, there was a lot of traction with the payment products. The team launched a few new features successfully and also revamped the payment products globally. Google Pay specially focused on partnerships, ecosystem approaches as it forged deep relationships with central bank and government to build innovative products collectively. This made the products work together within the ecosystem.

    GooglePay currently retains 35% market share in terms of volume and 38% of the shares in terms of values, as of October 2021. The payments gateway has last recorded 129 crore transactions, which amounted to Rs 2.50 lakh crore. Some growth highlights of Google Pay are as follows:

    • Google’s digital payment platform Google Pay hit 67 million monthly active users in just 2 years since it made its debut in India
    • Google Pay had contributed 59% in digital transactions in 2019
    • Google Pay is the second most popular UPI platform after PhonePe

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    Google Pay – Partnerships

    Google Pay has partnered with numerous organizations around the world to date. Here are some of the most prominent partnerships seen by G Pay:

    • GPay has announced of its collaboration with SBI General Insurance, which would help the GooglePay users to purchase SBI’s Genearl Insurance plan directly via the app on October 29, 2021
    • The digital payments giant has partnered with Visa on September 21, 2020 to help the Visa card users to tap-to-pay, thereby securing all the transactions made via the app
    • G Pay partnered with 90 banking institutions from 9 nations on September 20, 2021
    • Google Pay is firmly partnered with India’s financial ecosystem, said the internet major on September 3, 2021
    • G Pay partnered with Leumi, an Israel-based bank to enable the bank’s users to use the Google pay digital wallet on September 2, 2021

    Google Pay – Competitors

    Google Pay’s top competitors are Amazon Pay, PhonePe, Paytm, and Stripe.

    • Amazon Pay is a platform for digital transactions. It is similar to Google Pay in terms of functionality and features
    • PhonePe is popularly known as India’s leading payments app. It allows people to use BHIM, UPI, credit card, and debit cards to recharge phones and make payments
    • Paytm is an Indian e-commerce payment system. Paytm offers multiple services through its ecosystem; some of them are e-wallets, bill payments, phone recharges, and an online shopping store (in the form of Paytm Mall). It is headquartered in Noida, India.
    • Stripe simplifies the process of online payments.

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    Google Pay – Future Plans

    Google Pay is always planning something new and unique for its users. The company has announced that it would be transforming its app into a personal finance hub for the users. This would further simplify the payment of funds to friends and family.

    Google Pay – FAQs

    Is Google Pay an Indian app?

    Google Pay is based out of the Google headquarters in California, US. However, the payments app of Google is available for the Indian users and those who resides in Singapore and the US. Google India Digital Services Private Limited, headquartered in New Delhi, makes G Pay accessible for the Indian users.

    Who is the owner of Google Pay?

    Google Pay is owned by Google Inc.

    Can I transfer funds directly to bank accounts via Google Pay?

    Yes, Google Pay allows its users to link their bank accounts and transfer funds directly to others’ bank accounts.

  • Reliance Jio Business Model | How does Jio Makes Money?

    Reliance Jio, we all have been hearing a lot about this company for the past few years. Reliance Jio is a well-structured company whose business model is considered ‘the sweetest data bait.’

    Jio has proven itself the icon of international tech and private capital investors. According to estimated data, Jio has raised Rs. 67,194.75 crore from the forthcoming technology investors including Silver Lake, General Atlantic, Facebook, and Vista Equity.

    With the vibrant interest of the foreign investors in the Indian market have signed several deals for Reliance Jio. When it comes to the business model of Jio, the company has opted for very cleverish strategies which have resulted in remarkable profits for the company.

    Reliance Jio holds a very strong position in the market with an immense customer base. Through this article, we will be discussing the business model of Reliance Jio briefly along with its tremendous marketing strategies. Let’s begin!

    About Reliance Jio
    Key Product and Services of Reliance Jio
    Target Audience of Reliance Jio
    Business Model of Reliance Jio
    What is unique about the business model of Reliance Jio?
    How does Reliance Jio make money?
    Conclusion
    FAQs

    About Reliance Jio

    Reliance Jio Logo
    Reliance Jio Logo

    Jio is officially termed as Reliance Jio Infocomm Limited which functions as the Indian telecommunications company. Jio was founded by Mukesh Ambani in 2007 as the subsidiary of Reliance Industries.

    Reliance Jio, which functions as a subsidiary of Jio platforms and telecommunications services providers has its well-established headquarter in Mumbai, Maharashtra, India. Alongside the company operates all 22 telecom circles through the National LTE network. Through this, Jio provides the voice service on its 4G network, that too only from the LTE network.

    Today, Jio is known as the largest mobile network operator across India and the third-largest in the world. The company has over 42.62 crore subscribers. Recently in 2019, Jio launched its service of fiber to the home, where it offers television, telephone, and home broadband services. As of 2020, Reliance Jio raised its funds by selling around 33% equity stake in Jio Partner, worth Rs. 1.65 lakh crore that is, US$23 billion.

    Jio Business Model and the success story

    Key Product and Services of Reliance Jio

    Reliance Jio Services
    Reliance Jio Services

    Reliance Jio offers tons of amazing services through its fiber-to-the-home services. Its key services include telephone services, television, and home broadband services.

    While its key products are Mobile Phones, top-notch internet speed and services, fixed-line telephone, OTT services, and Wireless broadband.

    Target Audience of Reliance Jio

    Reliance Jio majorly concentrates on the audience who are smartphone users. It provides the service of high-speed internet and great android mobile services. Jio targets the urban and two-tier middle and upper-class people. Jio works towards transforming India into a digital nation.

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    Business Model of Reliance Jio

    Jio, being the highest in the market strategizes its business model in a very significant and unique way. It has opted for the formula of ‘Unique Selling Point.’ This basically means Jio offering such unique and advantageous services to their customers that can not be resisted.‌‌ This can be elaborate as when Jio launched the unlimited offer with a 4G server, people of India weren’t encountered 4G at all. And with such a unique offer, how can someone turn it down? And that’s what benefits the company of Reliance Jio.

    Jio offers a broad range of customer-based features and services like high-speed Internet, free voice calls, unlimited texting, and many other. All these are developed to charge money from the customers. Its tariff plans are exclusively built to catch consumers’ eyes.

    Jio has offered some very exclusive services to its customers with a fully served 4G network. Jio was the first to bring on the popularity and use of 4G network while other telecom companies were still working with 3G networks. And with this significant approach, Jio builds the biggest loyal customers base.‌‌ People wanted more things in less price, Jio took the opportunity and provided them that. This unique strategy is what brought Jio where it is now!

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    What is unique about the business model of Reliance Jio?

    Jio has opted for the most powerful and promising business strategies, which has surely brought great benefits and profit to it. Its business model is very simple, yet unique. The most unique thing about Jio is it offers free voice calls to its customers. According to statistics, only 10-15% of the Jio 4G network is used for calling while the other 85-90% is used for data. And when you have this amount of popularity and usage, paying a little price is always worth it. That’s what Jio does!

    In this way, it attracts more and more customers to its services and creates a significant marketing buzz with free offerings. In all manner, it’s beneficial for the company.

    How does Reliance Jio make money?

    Reliance Jio generates its money from two major options- Charging extra per unit and selling more units. And as compared to other telecom companies, Jio sells way more of its units to generate more money.

    For those who refer to Jio as a cheap telecom service provider, they are talking about its per-unit cost. But apart from this, the company charges its customers INR 154 for ARPU. And this amount is higher than any other telecom operator company.

    So, the Jio customers are actually paying more for the cheap products. Jio does not provide the facility of paying just INR 10 per month as compared to other telecom companies. Jio majorly focuses on generating more money through all its plans.

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    Conclusion

    ‌‌With its incredible marketing strategy of generating money through Jio tariff plans that come in 4G network brings great profit for the company. Jio follows different pricing options and makes enormous customer deals.

    They offer various applications, devices, and fiber services to multiply their revenue. This helps Jio to win numerous business verticals. And with such marketing strategies and development, Jio’s market value and position are unbeatable.

    FAQs

    What is the revenue of Reliance?

    Reliance has a revenue of 7.27 lakh crores INR (US$100 billion, 2021).

    Who is the CEO of Reliance Jio?

    Atul Kansal is the CEO of Reliance Jio.

    When was Relinace Jio founded?

    Mukesh Ambani founded Reliance Jio in 2007.

    Who are the top competitors of Reliance Jio?

    Some of the top competitors of Reliance Jio are:

    • Airtel
    • Vi (Vodafone Idea)
    • AT&T

  • Shoppers Stop Business Model | How does Shoppers Stop Make Money

    Shoppers Stop was a forerunner in India’s retail boom. They have developed from a sole 372sq.m retail in 1991 to 86 locations in 40 Indian cities now. Through constant advancement, the company is primed to have great potential.

    Well with the assistance of renowned and key allies, it’ll always strive to develop with its users by offering trendy and modern items that are up to world standards while being economical.

    To sustain long-term client happiness, they’ve assured that the brand and shopping experience throughout all of their brands is not only appealing but also provides complete delight. It’ll be reflected not just in their practices, but also in how they interact with their staff, partners, allies, and customers. So, Lets look at the business model of Shoppers Stop and how it makes money.

    About Shoppers Stop
    History of Shoppers Stop
    Business model of Shoppers Stop
    Top brands of Shoppers Stop
    Other Initiatives by Shoppers Stop
    Revenue Model of Shoppers Stop
    Strategies of Shoppers Stop
    Competitors of Shoppers Stop
    Future Plans of Shoppers Stop
    FAQ

    About Shoppers Stop

    Shoppers Stop is rich in the diversity of major global and regional brands for fashion, scents, home décor, etc. that serve the wants of the family. K. Raheja Corp. owns it, and it has 86 outlets in India’s top 40 cities.

    It seeks, sustains, and distributes new global apparel across the globe through its shop labels. It is traded on both the BSE and the NSE. Their drive on introducing international practices into retail and offering people a retail buying experience has propelled them to the top of its game. They are among India’s leading departmental stores.

    History of Shoppers Stop

    The K. Raheja Corp. consortium built the basis for Shoppers Stops on October 27, 1991. With its lifestyle business, it’s one of India’s largest hospitality and realty firms, has achieved yet another feat.

    It has evolved from a storefront to an apparel outlet for the entire family since its beginning. Shoppers Stop is now a trusted brand, renowned for its best quality merchandise and for delivering a comprehensive buying experience.

    It has established itself as the finest ideal for the Indian retail chain, owing to its vast experience and repute. Its future growth strategy seeks to assist the firm tackle the issues of the retail sector even better than now.

    Business model of Shoppers Stop

    It operates departmental storefronts selling a variety of home and buyer goods. They operate on a franchise-based model. Its value proposition is to consistently enhance people’s lives via style and a great buying experience. Family, children, the aged, and professionals are their key client segments. Its franchisees, such as Bobbi Brown, M.A.C., Mothercare, Hypercity, among others, are its key partners.

    Its main tasks include promoting and driving sales ranging from designer fashion to décor. Staff and outlets on a-locations are vital assets for the organization. The client interaction occurs either online, on the user’s chosen medium, or in stores.

    Salaries, site development expenditures, raw material ordering costs, and advertising costs make up the cost pyramid. It makes money through its outlets and those of its franchisees. Users can take advantage of the First Citizen Loyalty Program.

    Top brands of Shoppers Stop

    HomeStop.

    HomeStop. by Shoppers Stop
    HomeStop. by Shoppers Stop

    It started to meet the needs for a premium interior décor and lifestyle store. It equips you with a holistic home experience by offering the finest furniture, furnishings, and homewares. The product offering is updated regularly to add more styles.

    HyperCity

    HyperCity by Shoppers Stop
    HyperCity by Shoppers Stop

    It began its initial tour in Malad, Mumbai, on an area of 11,000 square meters, and received over a million visitors in its first 90 days. It’s a spacious, stylish, and dynamic layout that functions as a true megastore, with a vast selection of high-quality goods at low cost in a range of subjects such as grocery items, furnishings, sports toys, and so on. It also provides various value-added services in one place, such as financing, ATM, and telecom services, to make the experience more diverse, efficient, and holistic.

    Crossword

    Crossword by Shoppers Stop
    Crossword by Shoppers Stop

    It was created in 1992 and bought out by Shoppers Stop in the year 2000. It is the largest edutainment store and a renowned name in its sector, offering the Indian client an unparalleled combination of books, songs, & films all under one roof. Its current success is the fruit of a mutual enthusiasm for and loyalty to its clients, firm, and allies.

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    Other Initiatives by Shoppers Stop

    The Shoppers Stop group has also formed alliances and joint ventures with the Switzerland-based nuance group for airline shopping, the UK-based home retail group for catalog shopping under the brand Argos, and the Australia-based LAI group for Timezone entertainment zones.

    Total Revenue of Shoppers Stop
    Total Revenue of Shoppers Stop

    Revenue Model of Shoppers Stop

    Royalty fees

    Continuous royalties are their primary business. They set a fixed flat fee or % of the gross revenue of such units as a facet of the contract. Their successful franchisee partnership has led to increasing royalties.

    Advertising Fees

    Local, county and global marketing initiatives help them. The franchisee donates to a fund set up by the franchisor to cover ad spend, lowering their total cost, however, both sides gain from drawing loyal users to the franchise unit. Store exhibits and sponsors generate income-driven on how long the goods or sponsors’ ads are marketed.

    Employee Training

    When an entrepreneur joins a franchise, they adopt the franchise’s specific business model. The staff of the new company unit requires adequate training to conform with the way these things must be handled, and this earns income for Shoppers Stop via training fees, from which they gain.

    Strategies of Shoppers Stop

    Digitization

    They rebuilt their website, built an e-commerce portal, and teamed with prominent software firms like Google. They advertised their stuff online through them. They then went on to the current shopping site and formed a partnership with big Indian e-retailers. It optimized its backend arrangement to deliver a consistent and cohesive service throughout its multiple channels.

    They also developed in-store technology such as the Magic Mirror, which lets shoppers virtually try new things. It’s one of their most notable creations.

    Shoppers Stop Magic Mirror
    Shoppers Stop Magic Mirror

    Multi-channel

    Customer care was the core of the apps that were developed. They have apps for managing inventory that tracks every step along the way from the producer to the customer.

    Omnichannel

    It combines several shopping channels, such as television, apps, sites, and phones. If you don’t have cash or a credit card on hand, you can buy the same item online using their website or app, that was made to better the digital client experience.

    Pricing strategy

    It uses premium pricing, which sells different high-quality goods at a high cost.

    Advertisements and promotion

    With creativity as a driving force, they’ve rolled out a new philosophy of starting fresh to provide retail a fresh perspective. They strive to start fresh in terms of results, items, clients and thrive as a result of the many offers made available to users. A terrific addition to the company’s name was an endorser or celebrity appeal to the business.

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    Competitors of Shoppers Stop

    Pantaloons:

    It is a big rival of Shoppers Stop. It was created in 1997 and is headquartered in Mumbai, Maharashtra. Pantaloons, like Shoppers Stop, play in the apparel, and accessory market. It accounts for 296 percent of Shoppers Stop’s sales.

    Fbb

    One of Shoppers Stop’s main rivals is Fbb Online. It is a firm based in Mumbai, Maharashtra. It was started in 2001. Fbb Online, like Shoppers Stop, is in the logistics, Wholesaler, and Retail Distributor industries. Compared to Shoppers Stop, it has 4,782 fewer employees.

    Max Fashion

    It is regarded as one of Shoppers Stop’s most formidable competitors. It is based in Bengaluru, Karnataka, and was formed in 2004. Max Fashion, like Shoppers Stop, participates in the logistics, Wholesaler, and Retail Distributor industry. It earns $350.2 million more than Shoppers Stop.

    Future Plans of Shoppers Stop

    Its goal is to become the leading player in India. The firm plans to deliver to India the greatest retail technologies, retail processes, and sales worldwide. As part of their growth strategy, they are currently adding 4 to 5 more outlets to their portfolio annually.

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    Conclusion

    Shoppers Stop is the nation’s first department store, and it serves to set the standard for all department stores nationwide. With new models and alliances, the firm is ready to reshape the Indian retail environment. However, their dedication to delivering only the best to its users will ensure that success does not come at the price of quality.

    Due to its drive to analyze and serve the needs of all of its partners, as well as generate ideal retail models for Indian clients, it has developed to what it is today. The firm is in a big race to develop long-term models that will not only support development but also add value to shareholders.

    FAQ

    Who is the owner of Shoppers Stop?

    K Raheja Corp. laid the foundation of Shoppers Stop on October 27, 1991.

    Is Shoppers Stop an Indian company?

    Yes Shoppers Stop is an Indian department store chain owned by K Raheja Corp.

    What is the revenue of Shoppers Stop?

    The revenue of Shoppers Stop is 1725.09 crores.

  • Twitter Business Model | How Twitter makes money?

    With 206 million daily active users worldwide as of the second quarter of 2021, Twitter, symbolised by the renowned bluebird, grew from the ashes of a failed company named Odeo to become the #1 platform for discovery and generally regarded as the Internet’s SMS.

    It originated as a text messaging network that limited tweets to 140 characters (now changed to 280 characters). One of Twitter’s co-founders, Jack Dorsey, sent the first tweet on March 21, 2006, with the message “just setting up my twttr.” Twitter has evolved to be one of the most popular social networking platforms in the last decade, with over 200 million monthly active users.

    About Twitter
    Twitter Business Model
    What distinguishes Twitter from other social media platforms?
    How does Twitter make money?
    Conclusion
    FAQs

    How Twitter makes money? | Twitter Business Model

    About Twitter

    Twitter is a social networking and news website where users exchange brief messages known as tweets. Biz Stone, Jack Dorsey, Evan Williams, and Noah Glass launched it in 2006 after another firm, Odeo, was stung by the introduction of Apple’s iTunes. Twitter’s headquarters are located in San Francisco, California.

    You may send tweets to everyone who follows you on Twitter, hoping that someone will find your remarks valuable and entertaining. Unregistered users can only read tweets, but registered users may send, write like and receive tweets.

    Microblogging is a term that might be used to describe Twitter and tweeting. Despite being 15 years old and having over 300 million monthly active users, the network is still in its infancy in terms of revenues. And, because the platform is free to use, it’s not immediately obvious how Twitter makes money.

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    Twitter Business Model

    Twitter makes money from its users’ attention in two ways: advertising and data licencing. Advertising generated 87 per cent of company income at over $1.05 billion in 2020, up 87 per cent. The remaining portion is data licencing, which increased by 9% year over year to over $137 million, mainly due to corporate clients using data analysis.

    Although marketers pay to depend on the number of clicks or retweets, a pre-determined advertising budget is specified at the start of a campaign. Advertisers may also utilise streaming video advertisements on the site to target a specific demographic. Content producers may use features like live streaming and video on demand to expand their worldwide reach and user engagement.

    Twitter makes money from data licencing in two ways:

    It provides data products and licences allowing Twitter’s data partners to search, access, and analyse historical and real-time data derived from public tweets and their content and it also provides mobile advertising exchange services through the MoPub exchange.

    What distinguishes Twitter from other social media platforms?

    Keeping things clean and clear is the way to go, whether the goal is to build a personal brand, advertise a product/service, or do anything else that attracts public notice. What could be better than a platform that allows you to communicate with the rest of the world in just 280 characters?

    Twitter promises to take all reasonable steps to prevent authorised parties from misusing data. It follows the Digital Advertising Alliance Self-Regulatory Principles for Online Behavioral Advertising. Twitter implemented labels in November 2020 to alert users about the possibility of error in the information provided in a tweet. This community users includes people from many areas of life. Twitter allows anybody to immediately communicate their thoughts and opinions with the rest of the world.

    Only when the user has given their consent is personal data shared with digital marketers. Twitter’s privacy policy lays out all the options and urges users to read it to see how their data is used.

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    How does Twitter make money?

    Twitter uses these sources to make money.

    Advertisements for Promotions

    Advertisements provide for the majority of Twitter’s revenue, and users can view various advertising on the network.

    Advertisers who want to reach a larger audience or increase interaction from their existing followers can purchase Promoted Tweets, much like average Tweets that users can engage with. Using its proprietary algorithms, Twitter algorithms aim to display sponsored tweets on user timelines that may spark their interest in the product or service. Promoted tweets allow companies to increase their visibility.

    Promoted Accounts is a way of gaining followers by promoting one’s account to related individuals. Users can get recommendations for “Who to follow” on Twitter which is determined by user choices, demographics, geography, and overall platform activity. It may assist a new brand in promoting itself and an established brand in boosting a new campaign and making it viral. Advertisers may utilise this to build a community of Twitter users interested in their products or services.

    Promoted Trends Hashtags give you a sense of what’s hot right now. Promoted Trends are a 24-hour high-impact takeover of Twitter’s Trends list, according to Twitter.

    They appear in the first or second slots in the “Trends for you” section, in a user’s timeline and the “Explore” page, and are used to launch something new or relate to present conditions. Businesses can subscribe to Twitter for a fee.

    Businesses may extract valuable insights from this data using various complex analytical tools at their disposal, allowing them to better respond to customer demands.

    Data Licensing

    Partners can use Twitter’s data licencing offering to access, search, and analyse real-time Twitter data made up of Public Tweets. Twitter distributes about 500 million tweets with data partners every day, but only with a few firms.

    Exchange MoPub

    Twitter’s MoPub Exchange is a mobile advertising exchange that connects advertisers to sell ad inventory with buyers eager to acquire it. Twitter is paid a fee for each transaction that takes place on the exchange.

    Conclusion

    Twitter’s business strategy has stayed constant throughout time, and the company is still aiming to become profitable but has failed to do so.

    Despite all of its grandeur, excitement, and effect, its stock performance has been terrible, and many have dubbed its business model “broken.” Twitter has experienced several losses over the years, and the beatings will continue until the business model is adjusted or changed.

    It’s a harsh reality that monetisation has been a challenge for Twitter, and rumours abound that corporations like Disney and Salesforce may be interested in acquiring the company.

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    FAQs

    Who created Twitter?

    Twitter was created by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams in 2006.

    How does Twitter make money?

    Twitter makes money basically from two main sources which are:

    • Advertisement and Promotions
    • Data Licensing

    What are microblogging platforms?

    Microblogging platforms are platforms for sharing text, image, or video based blog in which content is typically smaller in both actual and aggregated file size. Some of the top microblogging platforms are:

    • Twitter
    • Instagram
    • Tumblr
    • Koo

  • 20 Best Tactics for Bootstrapping Your Startup

    Looking for ways to bootstrap your startup? Do not want to go into a huge process for marketing? You might be lucky enough to know that there are more ways to bootstrap your business other than spending resources on marketing.

    Bootstrapping your startup business strategically is the new trend today rather than adapting to traditional methods of marketing strategies. But, before experimenting with new things startup business owners should know what they need for their business.

    If it helps try doing a SWOT analysis first as it will help understand your strong and weak areas of business. Then you can look at the tactics mentioned below to bootstrap your startup business.

    Best Tactics to use for Bootstrapping Your Startup

    1. Write and publish quality-focused blogs
    2. Make sure your business has been listed to the reviews and listing directory
    3. Use Product Hunt
    4. Find an advocate or a partner
    5. Conduct webinars on your products or services
    6. Target your customers
    7. Create a Facebook page or a group
    8. Use online methods
    9. Conduct an in-depth market research
    10. Do not rush for an office space
    11. Design a proper business model and a plan
    12. Work from home
    13. Do not rely on Client’s credit
    14. Take help of your family members
    15. Use low-cost online tools
    16. Avoid purchasing unnecessary tools
    17. Learn digital marketing
    18. Work on your business image
    19. Always be resourceful
    20. Motivation plays a key role

    Conclusion
    FAQs

    Guide for bootstrapping your Startup

    Best Tactics to use for Bootstrapping Your Startup

    Write and publish quality-focused blogs

    Tactics for Bootstrapping Your Startup
    Tactics for Bootstrapping Your Startup

    Start writing quality blogs in about your business answering questions like the five Ws. People will know what your business is all about if you know how to attract them with the power of your blogs. Using keywords in your blog will do half the job and will help your blog to rank high on the first page.

    Once you have completed writing in-depth blogs try publishing your content on different social media like Facebook, Reddit, Twitter, LinkedIn, etc. Do not opt for link dropping and other such kinds of things but, try doing it with a sense of taste behind it.

    Make sure your business has been listed to the reviews and listing directory

    Business listing is important because it can play a crucial role for the success of your local SEO. These are types of platforms that will allow the users to find out more about your business and also help engage with it. Some basic information like name, address, and phone number are added so that interested users can contact you.

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    Use Product Hunt

    Product Hunt is an online website that you can consider using because here your products can be listed in a linear format. Keeping aside its functions one of the biggest advantages of using this website is that it can be used as a free service.

    Find an advocate or a partner

    Tactics for Bootstrapping Your Startup
    Tactics for Bootstrapping Your Startup

    You do not have to find someone who is a professional but a normal person who can have your back at the right time will be enough. If you find someone who is great at work and is available for you whenever you need them then you have got what you need.

    Conduct webinars on your products or services

    More promotion will only create a better chance of bootstrapping your business. Webinars can be conducted free of cost on various online networking websites. Look for the right one and just get into it because the sooner you start the better you can create a customer base.

    Conduct webinars/meetings frequently so that you inform about your products and services to more and more people. You need to start generating leads and then nurture them as well to create a better impact on your business.

    Target your customers

    Whether it is one customer or one hundred you should know that it is just the beginning of a long journey. Target customers to whom you can provide your service to them and solve their problems. This is where you don’t sell your product but give an idea to them about the problem that they are facing.

    If you can get into their minds about the solution you are giving to them for their problem you will be surprised to know that they will start coming to you after a certain period. Therefore, do things smartly rather than doing them with difficulty.

    Create a Facebook page or a group

    Just like you use Whatsapp groups for sending a message where more number of people will be able to see what you have sent similar to that you can create a Facebook group. Facebook has got around more than 2.9 billion users and this is why it will be a great platform to showcase your business to a large number of people at a time.

    Use online methods

    It is difficult to conduct business activities, especially when it is a startup and thus there is pressure on the sustainability of your business. If you choose online methods for conducting business then you may cut down maximum costs and also help protect your assets.

    Conduct an in-depth market research

    Just like you will do a SWOT analysis of your startup business you also need to do thorough research on the market. You are now the boss of your company and getting to know all the dynamics of your business should be your responsibility.

    If you are well-prepared you will not be needing capital from someone else. Look for online tools on the internet that will help you conduct online surveys.

    Do not rush for an office space

    There will be a lot of things going on in your mind once you have started your business and one of the major things that you think about is having an office of your own. Well, if you are thinking about it then that’s well and good but there will be no need for an office if your products or services do not do well in the market.

    Give your business some time to grow which may take some time and then you can look for an office. New offices will be needing types of equipments like furniture, computers, CCTV cameras, and many more which will only create a burden on your expenses.

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    Design a proper business model and a plan

    Tactics for Bootstrapping Your Startup
    Tactics for Bootstrapping Your Startup

    Most entrepreneurs tend to make the mistake of not planning what should be done next. This is how they waste resources and are not able to sustain in the market even though their business has the potential to do good in the market.

    Therefore, it is suggested that you design a proper business model and a business plan. A proper business plan helps the business to work efficiently by fulfilling its achievements.

    Work from home

    Offices rents’ are going up as each day passes by and you need to cut down expenses not increase them. Working from home can do the job that most offices can’t. If you can have the option to work from home comfortably then why not use the benefit of it. This way you can concentrate better on your work and you will save a lot of cash.

    Do not rely on Client’s credit

    Even though your startup business is a work-from-home work do not give your clients products and services on credit but rather ask them to make immediate payment. This is just the beginning of your business and you are already making expenses and credits can make things worse.

    Ask your clients to make payments as soon as they receive the product or service. This way you can keep a proper account of the business that you have conducted.

    Take help of your family members

    Your family members can be useful in some kind of work for your business. For example, your brother can create a page on social media and he will solely be responsible for promoting your business on different social media platforms.

    Similarly, you can even take the help of your relatives who can be useful in different activities. This way you do not have to hire an extra person to do a simple job and you can concentrate on other things.

    Use low-cost online tools

    Since you are working from home you will be needing different kinds of online tools for marketing or conducting other business activities. Use tools that are available at a cheap price not necessarily a free platform but a cheap one will do the job.

    Since it is just the beginning of your startup business you need to make sure that your expenses are not extending your budget. For the time being, using cheap tools can be useful and later when your business is flourishing in the market you can opt for expensive or premium tools.

    Avoid purchasing unnecessary tools

    Whether you are buying an online tool or an offline one make sure that the tool that you are purchasing can b of some use for the business. This is one of the most crucial tactics for bootstrapping your business because you do not want to go into debt by making unnecessary purchases. Purchasing expensive tools that will be of no use for your business will only create pressure on your finance.

    Learn digital marketing

    With changing technology there are so many upgrades that are being made each day. You need to learn about the technology and use it to your benefit as your business needs to be recognized by more people.

    A digital marketing course will help you understand how to market your business digitally. If you know about digital marketing then there is no use spending time on the courses. Apply what you have learned and see the results.

    Work on your business image

    There is a saying called ‘First impressions are always the last impression’ which is quite true when it comes to business as well. Your new business should be presented in front of the people in such a way that they are impressed with it.

    The image of your business will play a crucial role in getting customers from all around the country or globe. Use appealing photos, images, videos, animations, and other such kinds of things so that customers are attracted towards it.

    Always be resourceful

    Being resourceful does not just mean focussing on your resources but planning on how to grow them. You should gather enough money to fund your startup business because in the initial stages of your business will be difficult to find investors.

    However, there are several free online platforms where you can get the benefit of crowdfunding. Whatever decision you take make sure it will help you with your work keeping the cost structure under your budget.

    Motivation plays a key role

    Even if you follow anyone tactic mentioned above you need to be motivated at your work. Every day when you wake up you need to keep aside all negative things but move forward with the intending to grow your business.

    You should always be eager to learn new things from the market and your competitors so that you do not fall out from the competition. Motivation will also help you bootstrap your startup.

    Conclusion

    Whichever tactic you choose to bootstrap your business try to do it with a focussed mind because it will help your business itself. Even if you are facing a lot of challenges continue doing the same thing but in a different way.

    FAQs

    What does bootstrapping mean?

    Bootstrapping from a business’ point of view means starting a company with little capital rather than relying on investors.

    What are the benefits for adapting bootstrapping techniques to business?

    Some of the benefits of bootstrapping your business are:

    • Cheap and efficient
    • Complete control of ownership of the company
    • Might make funding easy in future

  • HubSpot Business Model: How does HubSpot Make Money

    The internet has brought an immense change in the world, its invention is the game-changer in the technology industry, and is actually the root of every modern tech. In fact, the entire world is literally in our hands because of it.

    Thanks to technological advancement, now we can store and manage data on the internet itself and can also provide IT services through it with the help of Cloud computing systems. In this computing system, we don’t need computer hardware to run the program and store the data.

    The growth of a company hugely depends on its marketing, sales, and its customer service; a business has to do a lot of things for its survival. Online marketing is a new way, and a business must indulge itself in it. The software is used for all of these so that a company can grow to its full extent. One of the most popular platforms that offer all the above facilities is HubSpot. In this article, we will talk about HubSpot, its business model, how it makes money and what exactly it does. So let’s begin with it.

    “Every kid coming out of school now thinks he can be the next Mark Zuckerberg, and with these new technologies like cloud computing, he actually has a shot.”

    – Marc Andreessen

    What is HubSpot?
    Business Model of HubSpot
    How does HubSpot Make Money?
    FAQ

    What is HubSpot?

    HubSpot was founded in the year 2006 by Brian Halligan and Dharmesh Shah, both of them are MIT graduates. HubSpot is mainly about developing cloud-based marketing software, for businesses to market themselves online.

    HubSpot is a huge platform that deals with everything that is needed in the process of digital marketing of a business, like Inbound marketing, social media publishing, blogging, SEO, web content marketing, email marketing, and reporting and analytics. Its headquarters is in Cambridge, United States of America. Basically, it is a software platform that helps business sell their products and services more.






    Try HubSpot


    In 2021, HubSpot acquired The Hustle, which is a newsletter company that deals with small business owners and entrepreneurs. In the month of September of 2021, Yamini Rangan becomes the new CEO of HubSpot.

    What Is Inbound Marketing?

    Hubspot deals with CRM (customer relationship management) and offers inbound marketing. Inbound marketing is all about helping potential customers find the business by making it visible online. Inbound marketing includes SEO, social media marketing, content marketing, and email marketing.

    What Are The Advantages Of Inbound Marketing?

    Here, we will talk about the benefits that a business gets from inbound marketing. They are:

    • Gets the business its customers from different sources like YouTube, Blog, and social media instead of from a single source.
    • Trust can be ensured to the customers when the company shares the content about their products and services that shows their reality.
    • If inbound marketing is done properly, advertisement costs can be avoided and money can be saved.
    • Content is created in such a way that they can reach the audience whenever they search about something using specific terms.

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    Business Model of HubSpot

    HubSpot being a SaaS company indulges in the creation of software for inbound marketing and sales-related work. It mainly makes money through subscription plans and of course professional services that include providing tools to help in the process of digital marketing of a business.

    When HubSpot first started its journey, it used to focus on small and medium-sized businesses, but now with time, any kind of business that wants to strengthen its online presence is, willingly investing in HubSpot. In 2007, only they proved their mettle when it acquired their competitor GroupSharp.

    How does HubSpot Make Money?

    The software made by HubSpot is sold on a subscription basis. The CRM (Customer Relationship Management) tool is free for the customers to use, plus this helps HubSpot attract customers to use their subscription basis plan.

    The hub application of HubSpot is another form where the income comes from. It includes three hubs, which are marketing, sales, and service hub. Third-party apps, consultation, and events are additional ways how HubSpot makes money.

    Marketing Hub

    The marketing hub comes in three different plans and they are starter, professional, and enterprise. This also comes in a free package as well and helps in converting the users into customers that willing to pay.

    Sales Hub

    The Sales hub is used to boost the performance of the sales of the business. It has some great features that include live chatting with potential customers, sending quotes to the customers, and others.

    Service Hub

    The Service hubs include a different support system that the customers need, like giving out surveys and answering all the frequently asked questions to enlighten the customers more.

    Third-party apps like Outlook, Mailchimp, and Slack provide these hubs offering to the customers. Consultation service is offered by HubSpot like SEO-related tips for the customer’s website, content strategy, and others.

    Events are also conducted all over the world to advertise their tools and services and teach how to increase sales, all these come under a fee that the audience of the events had to pay.

    As of 2021, HubSpot has reached over $1 billion in annual recurring revenue. The 15-year-old company has over 100,000 customers that are paying for its services. In the year 2021, HubSpot reportedly has over 4981 employees and with so many employees and a brilliant business strategy, the revenue of the company is not at all surprising.






    Try HubSpot


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    Conclusion

    HubSpot as a CRM platform with its different tools works in making the business reach the heights of success through the help of inbound marketing.  We are in a position where we cannot ignore digital marketing for our business.  All the things that are necessary for the digital marketing of a business, HubSpot gives out those services through cloud computing.

    FAQ

    What is HubSpot used for?

    HubSpot is a CRM software designed to help customers in aligning the business sales and marketing teams.

    Is HubSpot good for Small Businesses?

    HubSpot is said to be the best for small and mid-sized businesses that are looking to attract customers online.

    Who is the CEO of HubSpot?

    Yamini Rangan is the current CEO of HubSpot in 2021.

  • Simplilearn Business Model | How Does Simplilearn Make Money?

    Simplilearn is one of the leading certification training providers which provides online professional courses in disciplines such as Cyber Security, Cloud Computing, Project Management, Digital Marketing, Data Science, AI, and Machine Learning, and many more.

    Simplilearn won the 2021 Stevie Silver Award for Customer Service Success for the fourth year in a row and fifth time overall.

    Let’s see how it caters to the training needs of professionals and earns money. The article covers:

    About Simplilearn
    Business Model of Simplilearn
    What’s unique about Simplilearn?
    How does Simplilearn make money?
    Simplilearn Social Media (06 Nov 2021)
    Conclusion
    FAQs

    Highest Paying Certification Course of Simplilearn

    About Simplilearn

    Simplilearn was founded by Krishna Kumar in 2009 with the purpose to help professionals and enterprises to succeed in the fast-changing digital economy. The company provides outcome-based online training across digital technologies and applications such as Big data, Machine learning, AI, Cloud Computing, Cyber Security, Digital Marketing, and other emerging technologies.

    About Simplilearn Founder – Krishna Kumar

    Krishna Kumar | Simplilearn | CEO
    Krishna Kumar | Simplilearn | CEO

    Krishna Kumar completed his Bachelor of Engineering degree from NIT, Suratkal, India. Before Simplilearn, Krishna was the Co-founder and COO at Tech United, a software product company which he exited successfully in 2007 after selling it to a publicly held company. Initially, Simplilearn was started as a technology blog. Later, it became a professional learning startup for project management-related topics.

    Simplilearn – Area of Operation

    Simplilearn is based in San Francisco, Raleigh, North Carolina, and Bangalore, India Simplilearn has helped more than two million professionals and 2000 companies across 150+ countries to get trained, acquire a certificate, and reach their business and career goals.

    Simplilearn – Key Products and Services

    Simplilearn, an online learning platform, began with a project management certificate called Project Management Professional Certification.

    After 4-5 years, it manages to get big and enter into different sectors like IT, management, business analysis, banking, and data analytics.

    In 2011, Simplilearn started to offer additional courses across categories like cybersecurity, cloud computing, project management, digital marketing, and data science. Simplilearn now offers online training, blended classroom training, and exam practice tests in over 400+ courses across 11 major categories.

    Its most popular courses are Artificial Intelligence (AI), data science, digital marketing, project management, cloud, and DevOps.

    The companies’ high engagement curriculum includes self-paced online learning, instructor-led live virtual classrooms, hands-on projects, student collaboration, and 24/7 global teaching assistants.

    Simplilearn has seen a 200% growth in demand for Programming Courses and with that, it has launched a three-pronged approach to take on the goal of training and placing 10 lakh programmers in India by 2023.

    Simplilearn – Target Consumers

    Simplilearn focuses on students and working professionals. It has a paying customer base of over 3 lakhs.

    Krishna Kumar says “We help in providing a learning machine and help you identify if that’s the right fit for you. Maybe there’s something else that is most relevant for you and once you’ve decided, our instructors will teach you. And while you’re learning that topic, you can interact with fellow students and the instructor, and do a lot of practice. Our teaching assistants are available 24/7.”

    Business Model of Simplilearn

    It bridges the gap between the educational institutions and the candidates to gain the best knowledge and proficiency. The courses that are offered by Simplilearn, are certified by Purdue University and IBM. It offers both free and paid courses.

    ‌‌The candidates who are interested in the desired course need to register first by creating an account on Simplilearn. Then, to avail paid courses they have to pay the fee.

    It’s 70% of domestic business comes from cities like Delhi, Mumbai and Bangalore. In 2019, Simplilearn signed a Memorandum of Understanding (MoU) with National Skill Development Corporation (NSDC) to upgrade their digital skills.

    33 courses available in Simplilearn are accredited by NSDC making it a key contributor to the government skill program. The company’s main focus is to get deeper into categories that are going to dominate the tech space which includes cloud, data science, machine learning, and artificial intelligence. Simplilearn derives 30% of its business from reskilling and upskilling different enterprises.

    What’s unique about Simplilearn?

    The thing that makes Simplilearn different from its competitors are:

    • Courses are Purdue University and IBM Certified.
    • Good structure program and excellent lesson plans.
    • Availability of exclusive hackathons and Ask Me Anything sessions by IBM.
    • Capstone from three domains and 25+ projects with industry datasets from Amazon, Uber, Comcast, etc.
    • Job Placement Assistance.

    How does Simplilearn make money?

    ‌‌Simplilearn claims around 60% of its revenue come from overseas markets. Revenue is collected from the candidates after the completion of the program for their certificates. It also earns by charging instructors a fee for every course sale made on its platform.

    ‌‌For the enterprise business deals, Simplilearn receives money from the early-stage startups like Myntra, Swiggy, and Flipkart who use the platform to train their employees. Simplilearn works as B2B(Business to Business), as well as It, operates on a B2C(Business to Consumes) basis.

    Simplilearn Social Media (06 Nov 2021)

    • Facebook – 3,63,323 people like this
    • Instagram – 58,068 Followers
    • Twitter – 28,991 Followers
    • LinkedIn – 2,77,984 Followers
    • Youtube – 1,480,000 Subscribers

    Conclusion

    During the pandemic, the demand for online education has already increased, thereby, increasing the demand for edtech companies. Taking this as an opportunity, Simplilearn comes forward to widen the scope for students and professionals by adding more courses that match the need of its target audience. It carries a strong and effective business model that helps individuals to acquire the skills they need to thrive in the digital economy by providing certification courses.

    FAQs

    What is Simplilearn?

    Simplilearn is an online platform that provides professional certification courses on topics like Cyber Security, Cloud Computing, Project Management, Digital Marketing, and Data Science.

    Who is the founder of Simplilearn?

    Krishna Kumar is the founder of Simplilearn.

    Who are the competitors of Simplilearn?

    Simplilearn’s top competitors include:

    • UpGrad
    • Skillslash
    • Great Learning
    • Digital Vidya
    • Coursera
    • Edureka
    • Unacademy

  • Business model of MakeMyTrip | How does MakeMyTrip make money

    When it comes to tour and tourism, MakeMyTrip holds a leading position in the market. The very popular Indian travel company, MakeMyTrip, launched in the year 2000. Ever wondered how this company makes money? Or how its business model is designed? Well, in most simple words, the business model of MakeMyTrip entirely revolves around the online travel services it offers.

    MakeMyTrip provides the facility of booking tickets for holidays, flights, busses, cars and trains. This travel company has made booking tickets very convenient for Indians. Also, it has improvised the travel conditions and arrangements in India.

    In this article, we have discussed the business model of this amazing travel company- MakeMyTrip and how it makes money. So, let’s get started!

    About MakeMyTrip
    Key services of MakeMyTrip
    Target Audience
    Where does MakeMyTrip operate?
    Business Model of MakeMyTrip
    What is unique about the business model of MakeMyTrip
    How does MakeMyTrip make money?
    FAQ

    About MakeMyTrip

    MakeMyTrip is a very famous Indian travel company, established in 2000. The company provides some very amazing online travel services and offers. With MakeMyTrip, you can book tickets for flights, hotels, buses and many more.

    This famous travel company was founded by Deep Kalra. The company directly communicates with the customers through its verified online platform and deals with all customers’ concerns related to travelling. In other words, MakeMyTrip is the perfect guide for you to plan your vacation.

    MakeMyTrip owns around 30+ franchised stores along with 14 different stores across 28 cities. In the year 2012, the company developed and launched its mobile application for its customers that provides over 10 lakh routes all around India. MakeMyTrip has made travelling super cool and convenient for the Indians by helping them in all aspects of travel requirements.

    Key services of MakeMyTrip

    MakeMyTrip provides various beneficiary services for its customers. Some of them are booking tickets for any sort of travel media such as flights, trains, buses or many others. Besides this, booking tickets for hotels, hire cars, and holiday packages, etc.

    Apart from this, there are many third-party services also available such as travel insurance, Visa and many others, especially for travelling in any other country.

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    Target Audience of MakeMyTrip

    There isn’t any specific group that MakeMyTrip separately focuses on. The travel company focuses on different groups with different specifications and segments. It attracts all kinds of age groups and genders. Although the company does prefer customers who have a vivid connection with the internet.

    Where does MakeMyTrip operate?

    MakeMyTrip is an India-based travel company but the company has expanded itself into foreign countries as well such as America, UAE and many others. MakeMyTrip has well-functioning offices in New York, Bangkok, Dubai, Kaula, Singapore, Phuket and many others.

    Business Model of MakeMyTrip

    The business model of MakeMyTrip is very strategic and mainly based on customer service. MakeMyTrip provides the audience with great offerings and also, facility to book tickets.

    India, being the fastest-growing digital travel agency that basically benefits brands like MakeMyTrip in making them a strong contender in the global market. And for this, their business model entirely strategies the marketing, price, name, promotion and location. The company provides satisfaction to its customers through its amazing customer-centric services.

    Apart from this, MakeMyTrip provides its services at affordable pricing rates. MakeMyTrip provides an e-marketplace that is basically available for a huge range of audiences across the world.

    The company promotes its services and offerings through electronic banners on television commercials, websites and various other channels. Also, it promotes through offline retail stores.

    Today, MakeMyTrip has become an elite brand and has great strategic planning including various marketing schemes and campaigns.

    What is unique about the business model of MakeMyTrip

    MakeMyTrip is way beyond just creating the most amazing experience for customers. In the competitive marketplace, MakeMyTrip offers the facility of customer testimonials that give strong feedback on the company’s customer service managers. And the great customers’ experience is what favours the company most.

    In addition to this, MakeMyTrip works on various tactics and technologies to improvise its products and services. This brings out a great additional advantage to the company, especially over its audience. Along with this, MakeMyTrip provides an advanced place to its retail stores for showing the company’s products.

    Revenue of MakeMyTrip
    Revenue of MakeMyTrip

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    How does MakeMyTrip make money?

    MakeMyTrip has its major revenue source from the fee it charges over the online bookings. Although the company provides the most affordable flight tickets, that’s what attracts the customers more. They do this by purchasing the tickets from the private airlines by a huge number and they then reduce the charge and sell these tickets to the customers and earn a good extra commission fee.

    MakeMyTrip earns huge profit through the flight tickets but as there aren’t many options available with the trains that’s why they did not offer this service over train tickets. The company has over 5000 to 10,000 registered hotels and around 1000 registered busses.

    Apart from this, the major source of revenue is from marketing of various companies like Tata, Kingfisher, SpiceJet and many others. They also earn revenue by advertising holiday packages of various hotels on their website.

    Conclusion

    MakeMyTrip is known as the leader in the travel market in India. The company follows the Business-to-consumer digital business model. It is amazing with its services and products, both online and offline platforms. The travel market in India has grown at the rate of 40% and a huge market share is taken by MakeMyTrip.

    This clearly shows that the company has its marketing strategies very effective and efficient. MakeMyTrip earns a good amount of revenue and has a strong marketing position. Stay tuned for more content!

    FAQ

    Who is the founder of MakeMyTrip?

    MakeMyTrip was founded by Deep Kalra in 2000.

    What is the revenue of MakeMyTrip?

    The revenue of MakeMyTrip was 163 million U.S. dollars as of 2020.

    Who are the competitors of MakeMyTrip?

    MakeMyTrip’s top competitors include Flight Centre Travel Group, Treebo, TravelTriangle, Yatra and ClearTrip.