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Tag: Crozzo

  • How to Get Global Clients for Your Business?

    Regardless of the industry you are serving or the product/services your business is offering, customers are crucial. Small-to mid-size business owners, all are quite excited to go global. Getting global clients is the first step to expanding your business globally. It is one of the milestones any startup founder aims at. Getting few overseas clients can helps you get to a wider audience and the business can grow globally. It gives a check to your business compatibility in global market.

    Here are some opinions shared by some entrepreneurs about how to get global clients for your business.

    Vicky Jain – Founder, uKnowva
    Sharan Goyal – Founder and Director, Crozzo
    Nitin Gupta – Co-Founder and Managing Director at TezMinds, QRCodeChimp
    Shrikant Pandey – Managing Director, Indiamanthan Publications

    Vicky Jain – Founder, uKnowva

    Vicky Jain - Founder, uKnowva
    Vicky Jain – Founder, uKnowva

    To reach out to the global audience, a business must have an online presence so that people are easily able to find and identify the business. Side by side, a strong social media presence can work wonders for a business trying to attract global clients.

    Businesses that wish to target different countries must provide their website in different languages so that people find it easier to search and learn about their products and/or services. Customer service must also be of the highest standards to create a good experience that can lead to repeat customers. Joining a trade association, the local chamber of commerce and networking organizations along with attending meetup events increases the chances of building a good network that in turn, can create new business opportunities.

    Sharan Goyal – Founder and Director, Crozzo

    Sharan Goyal - Founder and Director, Crozzo
    Sharan Goyal – Founder and Director, Crozzo

    We only serve in India since our product is perishable. However, being an e-commerce enthusiast, could tell you that good performance marketing and targeted advertising through social media get you good global exposure.

    Nitin Gupta – Co-Founder and Managing Director at TezMinds, QRCodeChimp

    Nitin Gupta - Co-Founder and Managing Director at TezMinds, QRCodeChimp
    Nitin Gupta – Co-Founder and Managing Director at TezMinds, QRCodeChimp

    If you’re an agency or service provider, getting more global clients is probably one of your key business objectives. More international clients mean higher revenue and improved reputation.

    However, getting global clients isn’t easy. The competition in the agency industry is fierce, with all agencies battling to get international, high-paying clients. How can you stand out from the crowd and get more global consumers?

    Keep reading to increase your chances of landing more foreign clients.

    Why should you focus on international clients?

    Agencies and service providers should always aim at going global. Global clients
    have bigger budgets, so you can charge more and increase your revenue.
    Suppose you’re a software development agency based in India. The software
    development rates in India are $20-45 per hour. Local clients are aware of these
    rates, and thus, they’d not pay more than that. On the other hand, software
    development rates in the USA are $70-150 per hour.

    SaaS Founders Shared How they reach out to Foreign Clients?
    Every business wants to get a diverse range of growth opportunities. Expanding overseas and seeking international growth is always a temptation for businesses. Ambitious entrepreneurs are always keen to grow globally. International expansion is a huge opportunity for SaaS businesses. Thus, getting f…
    StartupTalkyPreeti Karna

    Shrikant Pandey – Managing Director, Indiamanthan Publications

    Shrikant Pandey - Managing Director, Indiamanthan Publications
    Shrikant Pandey – Managing Director, Indiamanthan Publications

    Bringing in new clients is a crucial skill for companies to get a steady stream of revenue and growth!

    Creating your website and social media accounts is just the initial step of this process. As a business owner, you need to invest enough time and resources to attract the target audience, build connections with potential clients, and convenience them to take the service while keeping the strategies consistent. Also, you need to come up with smart tactics if you wish to take your business globally.

    Fortunately, there is a whole wide world waiting for you with a target audience interested in what service or product you have to offer. Do not stay within your comfort zone anymore – your city, state, or country borders, be ready to forge new territories and take on the world. To help you navigate through this adventurous journey smoothly, I have listed below 7 actionable methods on how to get global clients for your business.

    1. Define Your Ideal Clients

    It is impossible to serve every industry equally whether you are working on a national level or international level. This is considered a wrong marketing tactic. Many businesses focus on targeting everyone using their resources in all directions which lead the company to fail.

    The right approach is first having a defined niche, then targeting clients based on their needs, industries, or company sizes to establish themselves as an expert. You can define an ideal client by understanding your experience or efficiency. Now, list down the clients you prefer working with and look for their demographic details like income level and industry. This way, you will have a good overview of your ideas for customers. It would help you to captivate the right audience and get more global clients for your business.

    2. Take Advantage of all Social Sites

    Social media is something you cannot miss! Make sure you have a strong presence on all the major platforms including Instagram, Facebook, Twitter, Snapchat, etc., and constantly update your social media accounts with interesting and insightful posts. You need to create you’re based on each side, even if some social sites work better for others. You may be surprised to see which kind of account works best for you.

    3. Capture Leads on Your Website

    Your website’s goal is to attract new clients. It is high time to maximize your site’s potential. No matter how big or small your business is, create an enticing pop-up that offers something valuable to your clients. It could be anything from a PDF guide to an eBook or a quiz that will catch your client’s attention and convince them to provide their contact details.

    Unlike a simple contact form, go for a uniquely designed pop-up with attractive content that can entice visitors and get them interested in a specific piece of content. The process on how to get global clients for your business is quite easy – create a piece of content that your customers find valuable, then create your site pop-up, and you are done. When each new lead comes in, make sure to give them a warm welcome.

    4. Host Virtual Events to Find Potential Clients

    Hosting a virtual event is a creative way to get new clients on a global and national level. With these techniques, you can collect attendees’ contact details, to whom you can send follow-up emails to, and provide an opportunity to work with a business partner.

    There are diverse types of virtual events like webinars, live streaming, online workshops, and trade shows. You can any of them depending on your target audience. Before the event begins, share the event details on all your marketing channels.

    5. Share Your Knowledge with the World

    When you are serving clients globally, your clients hardly get to meet you physically, here your valuable clients trust your knowledge and expertise to get the work done right and work as an authority in your field.

    There are numerous ways, you can follow to establish yourself as an authority, when you share your knowledge with the world, it helps you to build your reputation as an expert in the community.

    Offering a free online course is an effective way to establish your expertise. Another way of sharing your knowledge is to speak at events in your industry. Stay updated on what is happening in your industry and contact even organizers to share the topic you want to speak about.

    6. Consider the Currency Exchange Facility

    If you are looking at how to get global clients for your business, you need to first cater to their basic needs. Consider having a system where they can pay in their currency. When you first reach outside of your nation you do not need to have every single currency on there, being with just one destination.

    You can simplify the payment easy for US and European customers by allowing them to pay in dollars and euros. Here, the online payment system providers can help you through the process.

    7. Go for Ad Campaigns

    Another effective method of getting more global clients is to use paid advertising. With this marketing strategy, you get the opportunity to show ads on a platform by paying for keywords or ad space.

    There are three popular paid advertising channels – social media ads, search engine ads, and content promotion networks.

    By using these channels, you get to target a specific audience with a fixed budget. In some cases, paid ads have been proven to reach the target audience faster than organic approaches.

    Ready to get global clients for your business?

    The boundaries that once impeded our ability to work with global clients no longer exist. Present-day, it has become easier to do business with someone on the other side of the world.

    But there is no single formula tactic that will bring your global clients to your door. It is a combination of different techniques, and each method needs to be followed well.

    The ideas shared above are based on my personal experience and experiments. While growing my business ventures- The CEO Magazine & Startup City Magazine, we went through numerous hurdles especially while growing globally. But these tactics helped me to constantly grow and achieve milestones along the way. Hopefully, these techniques would empower your business growth too! All the best for your future endeavors. Keep growing, Keep shining!!

  • How to Calculate Valuation of Your Startup?

    In the competitive entrepreneurship world today, entrepreneurs are quite excited about adding value to their startups. It is one of the most essential things to do for founders as it helps in further equity and funding decisions. Quantifying the worth of a startup is the most complex task to do. There are several methodologies and approaches to determine the valuation of your startup. The worth of a startup depends on several factors:

    • The business idea of the Startup
    • Stage of the startup
    • Product Prototype
    • Market risks and competition
    • Technical Adaptability
    • Customer traction
    • Investors

    Let’s know about the approaches used by startup founders and entrepreneurs on how to calculate the valuation of your startup.

    Mehul Sharma – Founder & CEO, Signum Hotels & Resorts

    Mehul Sharma - Founder & CEO, Signum Hotels & Resorts
    Mehul Sharma – Founder & CEO, Signum Hotels & Resorts

    Pre-revenue start-up valuation may be a complicated endeavour. There are many factors to take into consideration, from the control group and marketplace traits to the call for the product and the advertising dangers involved. And a hard truth associated is that even after comparing everything, despite the only pre-revenue valuation formula, the first level you may get continues to be simply an ESTIMATE!

    The world of the start-up is a place full of enthusiasts. A start-up is initiated every 3 seconds around the world! Every big company you can think of started from a garage with a computer bought with savings money or some sort of gift. But not all start-ups share the same start.

    Business proprietors will wish for an excessive valuation, while pre-revenue investors might opt for a lower price that guarantees a larger go back on investment (ROI).

    So, how does pre-revenue start-up valuation evaluate with a mature commercial enterprise valuation?

    Unlike early-stage start-ups, a mature publicly-indexed commercial enterprise will have extra information and figures to head on. Regular circulation of sales and monetary statistics make it less difficult to calculate the price of the commercial enterprise. More often than not, early-stage startups are valued somewhere within the middle, which means founders don’t get quite the amount they anticipated, and investors pay higher than what they intended to invest.

    For most start-ups especially pre-revenue, Traction is one of the significant indicators for assessing the worth. The true story of a start-up can be brought into the daylight by taking a look at its effectiveness in the market, the number of users, and its growth rate.

    Estimating the actual worth of an unlisted startup before the seed funding is actually of equal importance to having a business idea while going in.

    There are various ways to estimate the current worth of a business, but only a few are used as a daily pill by entrepreneurs.

    The most basic method to assess the value is by analyzing the previous year’s Balance sheet. Under this method, the total debt and liabilities are subtracted from the aggregate value of assets owned by the business. This method is less complicated, easy to assess, and comes in handy.

    Although, the Balance sheet method does not provide the whole picture of the situation. The problem here is that this methodology considers the start-up in its current state and not how it’ll be in the future. Investors are inquisitive about the latter, and so, as an asset-based valuation doesn’t take that into account, this method has its drawbacks.

    Another method of assessing the valuation of a business is by calculating the EPS (Earnings Per Share). EPS is calculated by subtracting the Preferred dividends from the Net income and further dividing it by the average of outstanding common shares. For an individual investor, EPS shows the exact value of revenues and makes more sense.

    The valuation of a start-up is a complex task and there is no straight jacket solution or method to be put into use each time. Often, the valuation is calculated using a combination of ratios, and ordinal values.

    The angel capitalist Dave Berkus believes investors ought to be ready to envision the corporate breaking of $20M in 5 years. His technique assesses five important aspects of a start-up, namely, Concept, Prototype, Quality Management, Connections, and Launch plan. The Berkus technique is an easy estimation, typically used for IT start-ups. It is a good way to gauge value, however, because the market into account isn’t taken into account, it’s not going to provide the scope that some folks desire.

    Furthermore, a few more methods like EDITBA (Earnings before interest, taxes, depreciation, and amortization), top-line method, and GMV (Gross Merchandise Value) have been proven to provide significance for the estimations.

    EDITBA is another easy-to-use method that provides ordinal values by using the previous financial statements. Varied business segments face varied rates of tax payment based on the industry they fall into.  A business with a higher revenue may have an NPV (Net Present Value) lower than the one with lesser revenues due to the different industries they fall into.

    Another interesting method for assessing the value is the Top Line method, which is a reference to gross figures reported by a company, such as sales or revenue. This method gets the name because these are shown at the top of a company’s income statement and are kept aside for the reporting of revenue and or gross sales.

    GMV method ascertains the gross value of sales in the market. Under this, the gross value of the merchandise is calculated as the Sales price of goods with the number of goods sold. It shall be noticed that GMV is calculated in conjunction with net sales, which takes deductions into account.

    The first-time valuation of a start-up is bound to foresee at least a few mistakes. Hence, while evaluating the value of your start-up two big pitfalls one shall avoid are:

    1. Never assume a valuation is Permanent, i.e., after all, a startup is going to be valued at what investors are willing to speculate in it. Ultimately, it shall be kept in mind that the variables are at play, and perceive that no valuation, high or low, is ever permanent- or maybe even correct with certainty.

    2. A Valuation is never straightforward, i.e., even after getting a pre-revenue start-up valuation you’re happy with, it’s best to debate things in nice detail with potential investors simply to ascertain that everyone is on the same page regarding the way to proceed.

    It is rightly said that only a fool would make peace with the first valuation he gets of his business as there are complexities and human factors involved.

    List Of Government Schemes for Startups in India
    The Indian government is doing a lot to encourage and promote entrepreneurship. This StartupTalky post discusses some of the schemes launched to support Indian startups.
    StartupTalkyAshwini

    Vicky Jain – Founder, uKnowva

    Vicky Jain - Founder, uKnowva
    Vicky Jain – Founder, uKnowva

    Startup valuation is not an exact science. Factors can include the industry, the present market, the team’s credentials, and other forces that might be taken into account. The valuation of a start-up is the measure of how much investors think the company is worth right now. One of the simplest ways to measure the value of a startup is with the scorecard method. By weighing up parameters of success like team experience, competition, the strength of the product, etc.) subjectively, this method enables comparisons between a startup and other “average” startups within the industry and area. If the startup looks to have more than average qualities as per the calculations, then the chances of getting a higher valuation increases and so does the investment opportunity. There is another method known as the discounted cash flow method that approximates how much flow of cash a startup will produce over a long period of the term. By predicting this and calculating the expected return on the rate of investment, assumptions can be made about a start-up’s value.

    Sharan Goyal – Founder and Director, Crozzo

    Sharan Goyal - Founder and Director, Crozzo
    Sharan Goyal – Founder and Director, Crozzo

    Valuation in today’s day and age has taken a very sinister meaning. Valuations are through the roof, with no stopping in sight. I prefer to find a reasonable multiple of EBITDA or revenue (in the case of a cash flow negative company) and compare that to that of an existing business which has raised funds at a particular multiple. For example, a D2C business in the food space with a solid distribution network is often valued at 15-20 times forward revenue. It would be fair to assume that a company with a similar profile can be valued at a similar multiple.