Tag: entrepreneur

Mahesh Murthy: Founder and CEO of Pinstorm

Mahesh Murthy is the Founder and Chief Executive Officer (CEO) of Pinstorm, a digital marketing agency. He is an Indian Entrepreneur, Marketer, and Investor focusing on early stage startups. He is also a managing partner of early-stage fund Seedfund. He is also a writer, speaker and columnist. He was one of the Top Writers on Quora in 2014.

Mahesh Murthy- Biography

Name	Mahesh Murthy
Born	11 September, 1965
Age	55 (2020)
Nationality	Indian
Education	Kendriya Vidyalaya, Osmania University
Profession	Investor, Marketer, Writer, Speaker, Entrepreneur, Columnist
Position	Founder and CEO, Pinstorm
Known for	Column in WSJ, Businessworld, Business Today
Television	Business Baazigar, The Pitch

Mahesh Murthy- Personal Life
Mahesh Murthy- Education
Mahesh Murthy- Professional Life
Mahesh Murthy- Marketing Journey
Mahesh Murthy- Director
Mahesh Murthy- Angel Investor
Mahesh Murthy- Pinstorm
Mahesh Murthy- Controversies
Mahesh Murthy- Opinions

Mahesh Murthy- Personal Life

Mahesh Murthy was born and brought up in a Tamil Brahmin family. His father was a Colonel in the Indian Army.

Mahesh Murthy- Education

Mahesh Murthy completed his primary education from Kendriya Vidyalaya Picket, Secunderabad. Later, he got admitted in Osmania University to study chemical engineering, from where he dropped out at the age of 17.

Mahesh Murthy- Professional Life

Mahesh Murthy has explored varied aspects of job throughout his career. He started off as an advertising agent and later, became an entrepreneur. He worked for several well-known companies as a marketing specialist. He has also experienced the struggle of establishing a TV channel and series. He experimented with many startup companies by funding them.

He founded Pinstorm, a digital marketing firm in 2004. He co-founded an early stage startup Seedfund in 2006. He assisted in redesigning the website of Carwale, Voonik and RedBus.

Mahesh Murthy- Marketing Journey

Mahesh Murthy worked as a vacuum cleaner salesman for Eureka Forbes after dropping out of college. He further founded his first ever cleaning service company, Vaclean.

He also worked for an advertising agency called FCB (then FCB/Ulka) and Grey Advertising (then Trikaya Grey) in India. He won awards for the work done for clients including Network copiers. He further shifted to Ogilvy & Mather, Hong Kong where he was employed to work for clients including Unilever, The Economist, HP, Microsoft, Pepsi, and MTV.

He later moved to CSK Partners, Portland where he got an opportunity to work at Yahoo! and on Amazon’s “Earth’s Biggest Bookstore” campaign. He then started exploring the e-commerce domain. He was positioned as the vice-president of marketing for iCat, a publisher of e-commerce software that was acquired by Intel.

Mahesh Murthy- Director

Mahesh Murthy directed a series of six films for MTV with Shashanka Ghosh in 1994. He also won the New Directors Showcase award at the Cannes Lions.

He also ran an Indian music television channel- Channel V, as an acting GM for India. He revamped the position of the channel as a youth channel and also launched its website, vindia.com.

Mahesh Murthy- Angel Investor

Mahesh Murthy founded an angel fund, Passionfund in 2000. His funding agency invested in many startups like, Compassbox, WebDunia, Tulleeho, Geodesic, EBSDirect.

Mahesh Murthy- Pinstorm

Mahesh Murthy established an online advertising agency, Pinstorm on May, 2004. He is the CEO of the company. The headquarters of the company is in Mumbai, Maharashtra, India. While the offices are also in New Delhi, Bangalore, Kuala Lumpur, Zurich, Singapore and Santa Clara.

Pinstorm provides an integrated digital advertising on a pay-for-performance basis, involving SEM, SEO, SMM, Display, ORM, Email, SMS, mobile marketing. It has connections with many advertising agents. About 120 employees currently work for the company.

Pinstorm is well known for its marketing efforts using Twitter and other social media networks. In 2005, the company was declared among the “Asia’s Top 100 Technology Companies” in first “Red Herring 100 Asia list.”

Mahesh Murthy- Controversies

Mahesh Murthy was alleged of multiple sexual harassment since 2013. After one year of the first allegation, nearly half a dozen women filed complaints against Murthy alleging sexual misconduct before the National Commission for Women (NCW).

In 2017, the Mumbai Police registered a case of sexual harassment against Murthy owing to the letter wrote by India’s National Commission of Women about the complaints they received from various women. While Murthy has denied all these allegations.

Mahesh Murthy- Opinions

Mahesh Murthy has been an advocate for net neutrality in India. He clashed with Marc Andreessen on the matter. He also attacked the high salaries paid to executives of Indian online companies such as Flipkart, arguing that such practices would encourage economic protectionism.

A thread: My personal experience with #TRPscam:
(1) It’s been rigged in India for at least 30 years
(2) Not just @Republic but many channels benefit
(3) Scam value is up to Rs. 25,000 cr a year
(3) Don't blame Republic, but @WPP that owns @Mindshare @GroupMworldwide @Ogilvy
1/n

— Mahesh Murthy (@maheshmurthy) October 9, 2020

Mahesh Murthy’s tweet on TRP scam

In the year 2020, he tweeted on the malpractices and his personal experience of TRP scam on twitter. He wrote how TRP scam is rigged in India since 30 years. He mentioned the latest scam by Hindi news channel, Republic TV. He accorded that not only Republic TV but many channels do take benefits from them. The scam value is upto Rs.25,000 Crore within a year. He equated his thoughts of not blaming solely Republic TV, rather the WPP that owns Mindshare, GroupMworldwide and Ogilvy.

November 14, 2020

Paytm Launches A Mini App Store For Indian Developers

The digital payments company Paytm has launched a mini app store in order to support Indian app developers and entrepreneurs. It has now become a direct competitor to the Google play store and its dominance in the market. Paytm has come up with Mini app store, following the temporary ban it faced from Google Play store on 18^thSeptember for violating the developer guidelines on real money gaming.

Phonepe which is Paytm rival, had launched its own in app platform in June 2018, which was later rebranded as PhonePe Switch in October 2019. Instead of giving local apps and developers, Paytm is hosting links to Progressive Web Pages (PWAs) which are light apps that can run within a web browser without requiring any installation.

Mini apps are custom-built mobile websites that offer users an app-like experience without having to download them, thereby helping users save their data and memory. The mini app store only has a few apps listed, but’s plans to list out 300 services in the coming days. According to Paytm’s press release, the mini app store has been designed to help small developers and businesses in India to set up low cost and easy to build apps using HTML and Javascript.

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The Listed Apps on Paytm mini app store

More than 300 apps, including Decathlon, Ola, Rapido, Netmeds, 1MG, Domino’s Pizza, Fresh Menu, NoBroker have joined the Paytm app store. The startup founders such as Paytm’s Vijay Shekhar Sharma and Razorpay’s Harshil Mathur, along with 50 other founders discussed on the possibility of building an Indian app store to challenge Google.

The various apps that are included into the mini app store

Paytm said that the Mini app store has been in its beta testing phase with select users in the country for some time and has seen over 12 Million visits in the month of September. It also has apps like AQI monitor, EMI calculator, Mojo Pizza, Horoscope, Speedtest and Unit converter. While more apps are expected to join soon.

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Google enforcing 30% in app fees in India

The companies move indicates a fallout from google as it is mandatory for the developers listed on its Play Store to use its billing service. Google charges a 30% commission on any transaction made for a digital product or service through its in app billing system. Paytm aims to help developers in reaching out their products to the masses.

These apps open within a window inside the Paytm app itself and the listing will also be free. It will also provide developers with free payment avenues including Paytm Wallet, Paytm Payments Bank and UPI. However it should be noted that a 2% extra charge is levied for payments that use credit cards. Paytm is also providing the developers with a dashboard for analytics, payment collection and various marketing tools to better engage with users.

Accessibility to Mini App store

To access the Mini App Store, open your Paytm app. On the home page, click on Show More > Mini App Store from the pop-up menu. The portal allows direct access to users to explore, use, and make payments through the apps, without any additional downloads or installs.

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Indian App makers want an alternatives to Google Play

When Google had recently accounted that it would enforce its 30% fee for apps, the Indian app developers and entrepreneurs to demand for a national app store alternatives to google play. Google play store then pushed back the 30% commission in India until March 31, 2022. The tech giant says that the delay has been so the Indian developers have enough time to implement the UPI for subscription option that will be made available on Google play.

When asked about the issue Vishwas Patel, The Chairman of Payments Council of India and a member of IAMAI said that, “Just because Google owns the gate and the gateway to the digital ecosystem of this country they should not act arbitrarily and enforce their rules and regulation that are contrary to our country laws”.

Paytm Takes On Google, Launches Mini Android App Store In India To Support Local Developershttps://t.co/nIEGyqyEIn

— Swarajya (@SwarajyaMag) October 5, 2020

Google stand in courts is that is does not need RBI authorization as it is not a payment system operator but now it is mandatory that Indian apps use only Google proprietary billing and payments systems. “Google should not exercise its dominant position rather allow a level playing field for everyone” he added.

The Indian developers plan to lobby the government and come up with an alternative to Google. The business channel ET now also reported that the government is planning to ramp up its Mobile Seva app store, which has mostly catered to MSMEs, to act as an alternative to Google and Apple platform. On twitter, Razorpay founder Harshil Mathur added that, India needs a local app store long-term, as it will otherwise eat up most businesses and asked if anyone trying to build one.

On 29^thSeptember google said that, “Play distributed apps must use Google Play billing and as the method of payment if they require or accept payment for access to features or services, including any app functionality, digital content or goods. This applies only to apps and has been purportedly done to prevent revenue leakages to Google Play from January 2021.”

The government is reportedly planning to make the Mobile Seva app store mandatory on all smartphones. Paytm recently listed on the store, which mostly has Government apps. In the absence of any legal means, the government will have its work cut out for making a viable alternative to Google and Apple, experts said.

October 5, 2020
Survival Tips for Startups during Lockdown

Today almost every country in the world is under lockdown due to COVID-19 pandemic to contain the coronavirus outbreak. Small businesses, startups & entrepreneurs are wondering how to survive lockdown. On one hand, you want to keep the operations going as long as possible but on the other hand, the health of yourself and your workforce is the top priority. There are survival tips that must be followed to protect your company to avoid closure of business.

The business has surely been slow since the last few months and with the coronavirus pandemic rapidly spreading around the world, the economies are falling down drastically. Now, as over a Billion Indians are under lockdown due to the novel Coronavirus. It has created many hurdles for many established business, startups and their employees to survive in markets.

Humankind has never witnessed anything like this before. Companies are complaining about stranded supplies and non-uniform implementation of orders by law-enforcing authorities. In addition to this; the ever-changing government rules and notifications that are putting restrictions on transport, gatherings, etc.

Due to COVID-19, there is a huge cloud of uncertainty and darkness but as an entrepreneur needs to deal smartly with the circumstances and understand what can be done differently to get over this crisis. Many are looking for business survival tips in lockdown.

While people are locked inside their houses for safety concerns,many major companies have adopted new ways to operate like asking employees to work-from-home, safely shutting down facilities, etc. As the markets have witnessed record falls, it is more difficult for startups to survive in this situation. So here are some strategies to help startups survive during lockdown.

Be Open and Honest with your Customers

Right now we are all facing uncertainty, may it be self-employed, business owners, stay-at-home parents or working a full-time job. It is important to keep our relationship with existing clients alive. Empathize because they are as badly hit as we are. So be honest with your customers and tell them what actions your business is taking.

Experts say, company’s website must be designed well as many customers can visit it during lockdown. Adding an FAQ section to your website is the easiest way to give your customers the info they need. Consider creating a pipeline of business through digital outreach. It is necessary to connect with older customers.

Work from Home Efficiently

Working from home is not a new strategy anymore but how to work efficiently from home is the question before many employees. In almost all affected countries, the advice is to work from home if you possibly can. According to a research, 86% of people feel less stressed working remotely.

To work efficiently, employees need to use the right kind of tools. Thus, startups must ask their employees to use video conferencing tools like Zoom, Google Meet, Skype, Slack, etc. Apart from this, one must ask employees to maintain strict hygiene while working remotely also. One must ask teams to have regular communication to inform about progress and updates.

Manage the Expenses

At this point, the only thing startups should focus on is staying afloat and come out of this situation diligently. This can only be done by managing the expenses in a proper way. Question every expense, get rid of everything that is not important, re-negotiate agreements with suppliers, take a hard look at team costs, chase every single receivable, and do not sell without advances. In times like this, the single focus is to keep the business afloat at all costs, which may need founders to be very careful.

Find out what Help Government is offering

Many governments across the world, are just putting measures to fight COVID-19 but they are also rendering financial help to startups and SMEs to restore falling economy. For instance, the UK has announced plans to offer various grants, loan schemes, reduced business rates, and statutory sick pay relief for SMEs.

The US Government recently announced a $2 trillion relief package for its citizens and businesses, impacted by Covid-19 pandemic. New Zealand’s measures include wage subsidies for small businesses. So, it’s your responsibility as entrepreneur to keep yourself updated with any such help offered. It is advised to check your local city or state website to find out what steps officials are taking or what is available in your area.

Related: 9 Founders Shared their tips on Surviving Coronavirus Outbreak

Update your Google My Business page

If you haven’t got one yet, it is advisable to claim your Google My Business listing now. It’s free and it will help customers find your business online. If you already have Google My Business page, log in to your account and you’ll see a new option on the homepage called “Coronavirus (COVID-19) ” option that has been added recently.

By following the link, you will reach a page where one can make suggested changes to their business information. There one can update their business hours, adding extra services they are offering to customers or their local community or informing them about delays to normal service and so on.

It is necessary to communicate with Suppliers and devise plans accordingly

Move your Sales to Online Shop

Now, selling your products one-to-one is impossible due to lockdown but selling online is still an option. Selling online has never been easier and now is the perfect time to start an online shop to earn extra revenue. Depending on your country, postal services and couriers might still be running, otherwise, lots of companies are starting to offer “doorstep deliveries.”

It is totally safe as the business owner drops the parcel on the doorstep and the customer collects it from there, so there’s no contact involved. This is also a great way to help the people in your community get the goods they need. This may help the operations keep going due to continuous cashflow.

Keep in touch with your Suppliers

Because of restrictions on transport and meetings, there might be interruptions in the supplies you need to make your products or do your job, depending on your line of work. Knowing this ahead of time and keeping track of inventory can help you prepare and set realistic expectations for your customers.

You can ask the suppliers or vendors how long it will take them to deliver the goods. If it’s going to take you longer to fulfil orders than usual, your customers will be more understanding if you let them know in advance.

Looking at the current scenario, stabilization of inventory and logistics may not be achieved immediately. But businesses should then turn their attention to pre-booking rail and air freight capacity and using after-sales stock ensuring continuity in their supply chain network.

Take Tough calls

According to experts, the need of the hour is to make a impartial analysis of the current state or position of your startup and take tough calls based on that even if it means merging your startup with another venture. Sooner or later, startups will come face to face with the reality-survive at any cost.

To take such calls, entrepreneurs would require support and help to think clearly. A few other options, that founders can explore, are holding on a favourite project or letting go of a resource that might be valuable but not affordable at this hour.

Have Patience

During this tough time, having patience until things restore back is really essential. For this, a team has a valuable role to play. A Team should be strength, motivating and bonding the team is important. A leader must share the situation so that the team can support and help. Sharing the problems can give hope and might find you a solution to deal with the situation.

Also Read: How Different Sectors will Resume their Operations after Lockdown?

Conclusion

Each new learning becomes a rule, and each failed attempt becomes new learning. In the matter of just a week, India went from a do-not-panic state to a state of complete lockdown. So during such testing times, there are several financial and legal aspects that all businesses should bear in mind to lower risks and cut down on their losses. By adopting the appropriate strategies, any business can survive this lockdown. And remember it is a matter of time!

May 21, 2020
Management Strategies For Entrepreneurs For Health Flourishment Of Business

Management strategies and time is the essence of success. These are the key to success. Also, as we know, “time and tide wait for none so make sure you fully use all your time and the opportunities coming for you. Considering it as tangible or intangible is entirely one’s personal opinion, but when it comes to the significance of the 24 hours in a day, everyone has a single voice— money and time decide everything. Making the best out of whatever time a person gets requires planning and a series of right decisions; there’s no room for mistakes but then to err is the trait of being human. And when it comes to entrepreneurs for health flourishment who are striving to disrupt the established notion with revolutionary breakthroughs, time easily takes the top stop in the list of most expensive commodities. Child or adult, knowing a few time and management strategies will only do well so here are a few techniques allowing a person to maximize efficiency and minimize stress. These are being presented with a special focus on startup founders.

Understand Whether You’re A Lark Or A Night Owl

Some of us sleep early and like to work during the day while for others, the productivity index is at peaks during the late hours. Hence, in order to be extremely efficient, it’s worth knowing when you function at your best. But make sure you don’t procrastinate with you work this which means that if the job has to be submitted in the afternoon, you started working on it a few hours before the submission.

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The Workplace Should Be Conducive

It may a cubicle, a room, or simple table-chair setup in some corner—keeping the desk organized and clean definitely increases productivity. Save yourself some time by not bin rummaging over a cluttered table, desperately searching for that piece of paper! Create yourself an environment that interests you to work and the same with your workers. Make a chillax room in the office where people can take a break and enjoy themselves because recent reports say that people who work with few breaks, work more efficiently.

Workplace Should Be Conducive

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Document Everything ASAP

As the founder of the next big venture or endeavor, a person has a lot of tasks at hand. In this case, documenting processes and requirements make things easier for later stages. A lot of mobile apps are out there, serving multiple purposes such as a memo combined with an advanced planner. Make different documents for different projects and keep them in separate files, without mixing them. Also, do this once you complete the project. This will save you from a hectic day procedure of searching for everything and you will be saving some time also.

Document Everything ASAP

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Prioritize Accordingly

Working on the presentation which you have in the afternoon or the client meeting in the evening? Which will you choose among both? Here comes what we call “Prioritizing “. Not every undertaking has the same priority. It’s essential to categorize to-do actions into not so important, important, and extremely important. The temptation eve to complete menial tasks allures each one of us. But then, the resistance needs to be built up in order to avoid such situations in the first place. Make the plans beforehand and always have a mental plan for your works.

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Agility Both Physically And Mentally

It makes sense that in business everything doesn’t go according to your choice. Here, responsibilities can come out of nowhere, anytime or any place. Thus, the agility of the mind accompanied by the required physical flexibility budget is more than a competency—it is a necessity. As an entrepreneur, activities such as traveling for delivering pitch decks, meeting potential investors usually come up unexpectedly and hence the stressing on agility. So keep your agility high because you never know when that perfect agility of physical and mental will be your need to crack that big deal.

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Maintain The Calm State Of Mind

A peaceful mind always makes the perfect decision. Although, it’s not that easy as it can be said. There will desperate times where there will be calls for desperate measures. And in such cases, temperament remains volatile; there may be a sudden outburst of emotions. Is it going to escalate progress? That’s a strict no. So, practice techniques such as meditation and yoga to transition smoothly in this long and challenging entrepreneurial development path. Because of the calmer, you are, the more efficient decision you will be making for your business.

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Multitask Only Wherever It’s Feasible and Plausible

Multitasking is the coolest technique to handle things but not always it’s the best thing to do in the situation. Multitasking is often seen in a negative sense. But then, people do multitask and that too effectively. This skill varies greatly according to individual capacities. So, see how feasible study it’s for you before actually bringing it into practice. Master the skill first, then use it when it’s necessary. Also, don’t compromise position with the efficiency of the work you are multitasking because that hitch can cause you huge loss. Hence, multitasking has both pros and cons, so use it wisely.

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Involve Others

Delegation isn’t a synonym of slacking evolution off. But when doing something innovative and ingenious, leaders and founders should delegate secondary activities to fellow members and take care of the major responsibilities themselves. Good teamwork skills make work easier and also more ideas can be given to make the work more efficient. There may be less room for error as many people will be checking and analyzing the work. Hence, this allows multiple activities to be covered in the same amount of time. The end results which come are efficient and good also.

Involve Others

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Identify Sources Of Distractions

It can be anything—television, unwanted guests or even annoying colleagues relationship. These things can break your concentration level and it may take you long to get back to the focus point to start again.

So, try to stay away from them especially when doing important activities that call for focus, concentration and undivided attention.

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Incorporate The ‘Pareto Principle’

If you are able to get 80% of the results with just 20% of the efforts, then the future’s looking bright for you! Backed by scientific evidence principle, try to ensure that daily activities revolve around the 80-20 rule. It may seem difficult at first, but once you get the hang of it, reap the rewards!

Pareto Principle

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Don’t Wait

Staying idle isn’t a bad habit but don’t spend too much of your precious time waiting. Even two minutes are sufficient to complete a task, provided you have a knack for identifying and classifying activities according to the time they require.

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Take Breaks

This may seem to be in stark contrast with earlier point but both signify something different. Continuous grinding can reduce productivity. Hence, it is advised to take breaks in-between to ensure that the fuel keeps running, and to keep your mind fresh to cultivate more new and productive ideas.

Take Breaks

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Actions Speak Louder Than Words

Don’t waste time in preaching stand. Practice what you say and that too with utmost dedication and sincerity. Instead of wasting time suggesting those around you about what they should do, let others take inspiration from your way of handling things. After all, no one likes to be friends with a hypocrite.

April 12, 2020
How To Build A Brand That Customers Love

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

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

Pay Attention To Your Business

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

PAY ATTENTION WHILE BUILD A BRAND

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Be Prepared Always

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

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

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Exceptional Customer Service

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

CUSTOMER SERVICE

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Understand Your Brand’s Soul

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

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Authenticity

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

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Affordability

AFFORDABILITY

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

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

April 10, 2020
How Entrepreneurs are Helping to Fight COVID-19?

Needless to mention, Coronavirus has affected every aspect of human life. Lockdowns and social distancing particularly has had immediate effect on several banking activities. Thus, at the same time, many efforts are being made to raise funds and help startups and SMEs. Experts in the sector have greatly underscored the need for focusing on digital channels and platforms during times like these. After the coronavirus wiped $7.6 trillion off the world’s stock markets in four days, global health groups are asking companies, governments and even the public for billions of dollars to fight the contagion. The World Health Organization(WHO)set up a website seeking contributions from anyone in an attempt to raise at least $7 billion.

On Tuesday (March 24) evening, Prime Minister Narendra Modi announced that the whole country has been put on lockdown and had announced INR 15,000 Crore package to strengthen the Indian healthcare infrastructure in India. The fund will be used to develop testing facilities, personal protective equipment and procure more isolation beds, intensive care unit (ICU) beds and ventilators. Moreover, the government will be using the fund to train paramedical and medical staff helping in treating affected patients. Earlier in the day, finance minister Nirmala Sitharaman had relaxed timelines for filing taxes and raising default thresholds for avoiding bankruptcy proceedings. She had added that the government will soon announce a package to address the coronavirus impact on the economy.

In one such efforts, Prime Minster of India, Narendra Modi announced a special emergency fund for the nation to fight crisis like COVID-19 on March 29. Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund), is a dedicated national fund with the primary objective of dealing with any kind of emergency or distress situation, like posed by the Coronavirus pandemic, and to provide relief to the affected. Hours after the announcement, entrepreneurs and celebrities from various walks of life have come together to show their appreciation.

Ratan Tata

Joining a number of India Inc leaders who are doing their bit in their own way, Ratan Tata has committed Rs 500 crore for protective equipment for frontline workers, respiratory systems for treatment of increasing cases and testing kits in the fight against COVID-19. In a tweet on March 28, Ratan Tata shared a post detailing how Tata Trusts and the group companies will help as India battles to contain the spread of COVID-19 crisis. Ratan Tata tweeted, “COVID-19 is one of the toughest challenges we will face as a race. The Tata Trusts and the Tata group companies have in the past risen to the needs of the nation. At this moment, the need of the hour is greater than any other time.” The amount would be used for personal protective equipment for the medical personnel on the frontline, respiratory systems for treating increasing cases, testing kits to increase per capita testing, setting up modular treatment facilities for infected patients, and knowledge management and training of health workers plus the general public.

Following Ratan Tata’s announcement, N. Chandrasekharan, chairman of Tata Sons, announced an additional Rs 1,000 crore in support towards COVID-19 and related activities. He said in a statement, “We will work together with the Tata Trusts and our Chairman Emeritus Mr. Tata and would be fully supporting their initiatives, and work in a collaborative manner to bring the full expertise of the group. In addition to the initiatives articulated by Tata Trusts, we are also bringing in the ventilators necessary and are gearing up to also manufacture the same soon in India.”

Mukesh Ambani

One of the top business tycoons of India, Mukesh Ambani has also contributed in his own ways. In collaboration with the Brihanmumbai Municipal Corporation (BMC), the Sir HN Reliance Foundation Hospital has set up a dedicated 100-bed centre at Seven Hills Hospital, Mumbai, for patients who test positive for COVID-19. Reliance Industries Limited is enhancing its production capacities to produce 100,000 face-masks per day and a large number of personal protective equipment for the nation’s health-workers to equip them further to fight the coronavirus challenge. Reliance Industries has donated Rs 500 crore to PM’s Citizen Assistance and Relief in Emergency Situation (PM CARES) Fund to help government in the fight against coronavirus.

Similarly, other companies in India have come forward to contribute. Digital payments company Paytm said it aims to contribute Rs 500 crore to the fund. For every contribution or any other payment made on Paytm using the wallet, UPI and Paytm Bank debit card, the company will contribute an extra up to Rs 10, Paytm said in a statement. Also, Flipkart-owned PhonePe also launched a donation drive and said it aims to contribute up to Rs 100 crore to PM CARES Fund towards fighting coronavirus crisis. Infosys Foundation has also committed Rs 100 crore to fight COVID-19. Uday Kotak, managing director of Kotak Mahindra Bank announced a Rs 60 crore donation. On March 22, Anand Mahindra, CEO of Mahindra and Mahindra also offered the group’s hospitality arm as a medical care facility and said the group will work on how its manufacturing facilities can manufacture ventilators. Engineering and construction giant Larsen & Toubro (L&T) on Monday announced Rs 150 crore donation to the PM-CARES Fund to fight the coronavirus outbreak and said it has set aside over Rs 500 crore per month to support about 1.60 lakh contract workers. JSW Group, an Indian business operating in metals and mining has announced contributing Rs 100 crores to the prime minister’s citizen assistance and relief in emergency situations (PM-CARES) fund in the light of the ongoing Coronavirus outbreak. Paint and decor company, Asian Paints on Monday has announced contributing Rs 35 crores towards Covid19 Relief Fund.

However, startups and small businesses were getting anxious about the support from the government considering the pressure they are facing to keep the operations running smoothly in the light of funds being scarce and market demand being low. This combined with the pressure to plan for remote teams due to the lockdown across India. Amid the country-wide lockdown, startups have been calling for a relief package for small businesses and the startups which are struggling as the coronavirus pandemic continues to hamper daily life. A Reuters report has now said that the India government may bring an INR 2.3 Tn ($20 Bn) relief fund by the end of the week for the poor sections of the population and businesses. For this, various entrepreneurs have showed willingness to help.

Mark Zuckerberg & Bill Gates

The Chan Zuckerberg Initiative, the philanthropic arm of Facebook founder Mark Zuckerberg and his wife Priscilla Chan, has announced plans to team up with the Bill and Melinda Gates Foundation to donate USD 25 million to a research fund exploring possible COVID-19 treatments. Separately, a coalition backed by Bill Gates and Norway is considering a crowdfunding campaign as they seek to attract about $2 billion to speed up development of vaccines. Mastercard and charity foundation Wellcome are also partnering with Bill & Melinda Gates as part of the initiative, which started with $125 million in seed funding at its launch. The goal of the project is to develop affordable treatments to COVID-19 that can be distributed at scale.

In the same way, Facebook wants to help small and medium-sized businesses (SMBs) survive the coronavirus pandemic. Now it is offering $100 million in grants to 30,000 companies in over 30 countries. Sheryl Sandberg, chief operating officer of Facebook, said on her page on Tuesday (March 17) that the social media giant(Facebook) wants to “do our part” to help with the “enormous challenge in front of us.” To that end, the company is extending a total of $100 million in cash, as well as credits for advertising, to a maximum of 30,000 eligible small businesses.

Similarly, Facebook’s Head of Health Kang-Xing Jin said in a blog post that Facebook is also supporting COVID-19 fact-checkers with a $1 million grant, in partnership with the International Fact-Checking Network (IFCN). The funds will be used to launch a program to increase capacity during the coronavirus pandemic. Facebook has also opened a special hub to help SMBs during the pandemic, and is planning virtual training through Blueprint, its free e-learning training program. The company’s goal is to assist companies “in this new and unsettling environment.”

March 31, 2020
How to Be a Good Boss | 10 Ways?

Becoming the leading head of any company or office is a great honour and opportunity. It always gives a feeling of superiority and strength. As the boss, people get respect, attention, and love from their employees. However, this is not always the case as bosses might become the center of gossip, the one person, the employees dislike with passion and other issues around the workplace. It is better to know that respect is earned, thus, the question arises, how to become a good boss?

According to a report, 86% of companies say developing new leaders is an urgent need. Here are a few ways to accomplish how one can be a proper boss. You Know that when someone is the boss, employees follow their command and just because they do that, doesn’t mean they are doing that happily and it also does not mean they are always entitled to follow the boss’s command. There are qualities of a good boss that one must possess so as to garner the respect that is required from the subordinate. In this article, we will talk about those qualities.

Make Goals Together With the Employees
Be a Good Listener
Celebrate Success With Employees
Remember That Mistakes Can Happen
Identify Employees’ Development Needs
Conflict Resolution
Sensitivity
Be a Good Example
Encourage a Good Relationship Among Them
Admit Your Mistakes

Make Goals Together With the Employees

It is very important to let employees feel that they really are a part of the company and not just puppets. Let them feel that they belong in there, like a big family. Employees also have goals, not just for themselves but for the company, too. So, make the employees aware that when the company continues to grow, they will also grow with it. Most of them build their future in the company they work for, so help them to realize it that the growth is also for their own benifit.

Be a Good Listener

Not everyone can be a good listener but in a team, this quality is extremely important to have in a leader. Listening to employees and their problems and attend to their needs is one of the prime responsibility of a leader. Do not focus only on self-growth, try to understand and know the issues, employees are facing and help them find a way out. This is very important to become a good and respectful boss.

Celebrate Success With Employees

In a business, success is not just about you, it should be enjoyed by the whole team because all of them have worked hard for it. Treat your employees to a meal or anything that would simplify the celebration of success and thanksgiving. Do not forget to thank them for the success because they are part of it and make them realise that, the success could not have been achieved without them.

Remember That Mistakes Can Happen

We are human, and mistakes are bound to happen. Although being a perfectionist is important but one also has to remember and consider that mistakes do happen. There are times when bosses might have to consider these mistakes and let them go. When there is proof that it was not committed intentionally, understand why it has happened and do not take too long to forgive.

Identify Employees’ Development Needs

Conduct training for employees to develop their skills and allow them to gain more
knowledge about new innovations and ideas. Have personality-building sessions for employees to allow them to grow personally. Every employee needs growth and a boss must take care of that, when there will be growth of an employee, the company will definitely get benefited from it.

Conflict Resolution

As this is a company, so arguments and conflicts can happen anytime, it is inevitable. When there are conflicts in the office, pacify employees as soon as possible and stay neutral towards the causes. Try to see the matter from different point of views. Being biased will only create rifts between the boss and employees, so be impartial.

Sensitivity

When somebody commits a mistake, do not scold them right in front of their workmates but call his attention and inform him about the issue. When someone has done something good, do not hesitate to appreciate them and if possible, give a reward. With this, they will feel more motivated, enthusiastic and important to the organization. It is not one of the most successful methods to become a good and respected boss.

Be a Good Example

When you are the boss, your responsibility becomes double, so be the version of yourself, so your employee can draw inspiration from you. Remember that in the office, everyone is working in one team. Avoid doing things that may disappoint others and reduce their respect for you. Do not allow this saying to come true, “Follow what I say but do not follow what I do.”

Encourage a Good Relationship Among Them

Team work makes a dream work. When you are in a team, you must have a good relationship with your group mates a proper coordination is required. A healthy work environment will help employees work well and thus the company will get the taste of success. When they feel comfortable with each other, they can avoid conflicts and concentrate on getting their work done with ease. Do some in-office activities that will encourage them to mingle with each other and have a good relationship amongst them.

Admit Your Mistakes

As mentioned above, when you are a human , mistakes are inevitable they are bound to happen. What makes you different, is your way of acknowledging it and not repeating the same mistake again. When a mistake is committed by the boss, they should admit it and be sorry for it. Seeing this humility will make employees trust the leadership qualities of the boss.

Conclusion

Being a friend to employees is the first step towards being a good boss. Do not pretend to be somebody else. Be honest in dealing with them and do not build huge blocks for interaction. The more approachable one is, the easier it is to pacify conflicts and solve issues. A good boss results a into a good company, if an employee is happy with their boss, the possibility of growth of that company increases.

FAQs

What are the Three Qualities that make a Good Boss?

The three qualities that make a good boss are, high EQ, Honesty and the ability to motivate.

What are Good Bossess like?

Good bosses earn respect from their employees not demand them.

Are bosses always right?

Bossess are not right everytime, when the made mistake they should apologise for it.

December 13, 2019