Tag: impact

  • Smart retirement planning- How much do you actually need?

    Are you looking at creating a retirement plan for a secure and comfortable future? If yes, you should definitely figure out the amount you need to accumulate. People often make the mistake of underestimating the future corpus they have to build to comfortably live out their post-retirement years while accounting for inflation and other increasing expenditures simultaneously. Retirement planning should ideally be done in the early stages of life rather than when you are closer to retirement.

    To this end, you should first use a retirement planning calculator to estimate your future needs. Irrespective of your current life stage, you should not neglect retirement planning and should systematically save up for the same in a disciplined manner.

    How much do you require for a comfortable future?

    As mentioned, you can use a retirement planning calculator to determine the total amount you require after retirement. You should begin with calculating the basic cost of achieving diverse life goals and the projected expenditure on living costs when you stop earning monthly income. Prioritize essential expenses over non-essentials. Many calculators can help you find the accurate figure in this regard.

    For example, let’s assume that you are a 25-year-old professional with a monthly expenditure of ₹30,000. You are looking to create a retirement plan so that you can retire a bit early, let’s say at the age of 50. Furthermore, you want to have a corpus that can support you for at least 25 years after you retire. So, taking a 6% inflation rate along with an 8% rate of returns on your investments, you will need to at least accumulate around ₹1,72,00,00. This is a sizeable amount that will require a solid portfolio of diverse investments to achieve.

    While planning this amount, make sure that you are adjusting your figures for future inflation. In addition, you should consider future living costs by doing your own calculations. Otherwise, you run the risk of falling short of what you require to lead a comfortable lifestyle after retiring from work. Finally, it is essential that you reassess your requirements periodically, as your monthly expenses will not always be the same, and varied financial responsibilities, may arise suddenly.

    Should you choose pension plans?

    Pension plans are often considered an effective retirement planning tool for the future. It is an investment strategy provided by life insurance providers to aid you in saving for retirement. The plan offers a predetermined and recurring pension, avoiding financial shortages in your retirement years. Moreover, they make a strong case for their inclusion in your portfolio due to the following reasons:

    • Building savings for the long term – You may purchase pension plans well in advance, and you can invest your money to help it accumulate into a sizable kitty over the years. You can use this amount to earn regular monthly income to meet your expenses easily.
    • Coverage for beneficiaries – Pension plans also protect your nominees and beneficiaries in case of any financial distress. Many such plans come with accompanying life insurance coverage where the sum assured/death benefit is paid out to the beneficiaries/nominees in the event of the policyholder’s untimely death. This amount may also be payable in installments to the nominees at times.
    • Helps in tackling inflation- Usually, your accumulated money’s value will come down yearly. Inflation leads to a drop in monetary values, i.e., your costs will increase, and your purchasing power will also decrease accordingly for similar amounts. Suppose inflation continues unabated for two or three decades. What is going to happen then? A pension plan will help you invest in a disciplined manner where you can outstrip inflation accordingly.
    • Tax Deductions- Pension plans come with accompanying tax benefits for policyholders. You can get tax benefits up to Rs. 1,50,000 under Section 80CCC of the 1961 Income Tax Act on the premiums you pay for these plans. After retirement, you can take up to 1/3rd of the accumulated corpus without paying any tax on it, as per Section 10 (10A). Before investing your money, you should always consult a financial advisor regarding tax benefits.
    • Compounding benefits- Compounding naturally takes place when investments start earning income/returns, and these are further invested to earn more returns as well. If you stay invested for 10, 20, or even 30 years, then you will benefit significantly from the power of compounding. This will help you amass a sizable corpus that will keep you comfortable throughout your retirement.

    These are some of the pertinent factors that make pension plans value-additions to your portfolio, no matter your age and current life scenario.

    What is the type of payout option that you should consider?

    Pension plans usually have two payout options. Once you invest over a long period and accumulate your retirement kitty, you can either choose to withdraw the entire amount as a lump sum amount. You can then invest this amount to get a monthly income. At the same time, many people choose to get a part of the corpus as a lump sum payment while allocating the same to get monthly income from the same. Some choose to distribute the entire amount as a monthly payout or income source throughout their lifetime.

    Do your homework before choosing any pension plan and compare options across multiple insurers to make the best possible choice.

  • Here’s why Locksmithing is still a great career choice

    The profession of locksmithing is a good choice for anyone looking for a high-paying trade with reliable employment prospects. Locksmiths will be in steady demand through economic slowdowns and technological shifts that could put people in other industries out of work.

    Although becoming a locksmith requires years of training and apprenticeship, it takes less time than many white-collar professions with smaller salaries. Some states require locksmiths to be licensed, bonded and insured although many employers will cover the costs of these requirements for their employees.

    Locksmith Training

    Many trade schools and community colleges offer locksmith training programs that meet the educational requirements for locksmiths in their states. Locksmith training can take one to two years of study and involves a thorough education in lock picking, safe cracking, key making and other locksmithing duties.

    Training courses will include sections based on locksmith theory, practice and safety, and at the end of each course there will be a written assessment. In states that require licensure, these programs will typically end with a licensing exam. Many schools will help students find internships and apprenticeships to gain work experience.

    Professional Apprenticeship

    Working as an apprentice for one to two years is an optional career path in some markets and niches. Commercial locksmithing is often more complex and challenging than auto or residential locksmithing, so these professionals usually need more experience before they can work without supervision. With such a wide range of skills to master, commercial locksmith apprentices must wait around two years before they’re ready to accept contracts.

    An apprenticeship is simply an on-the-job training program for entry-level locksmiths, and not every employee will start out as an apprentice. Although apprentices earn smaller salaries than full-fledged locksmiths, the experience provides a smooth introduction while mitigating errors that could raise insurance and bonding costs.

    State Licensing

    The states that require locksmith licensing are:

    • Alabama
    • California
    • Connecticut
    • Illinois
    • Louisiana
    • Maryland
    • Nevada
    • New Jersey
    • North Carolina
    • Oklahoma
    • Oregon
    • Texas
    • Virginia

    However, locksmithing laws are constantly changing, and additional states could require licensing in the near future. Licensing is a way of standardizing locksmithing practices to ensure that customers receive a minimum standard of quality. States require licensing to weed out untrained and unprofessional locksmiths who might offer cheap service with a high risk of failure.

    You’ll need a license before you can become an apprentice, and licensing requirements vary from state to state. By the time you complete your trade school program, you should have the knowledge needed to pass a licensing exam. Otherwise, you may choose to invest in a test-prep course before paying the exam and licensing fees in your state.

    Work Experience

    After obtaining a license and completing an apprenticeship, you’ll be ready to start working. Rising through the ranks of seniority will take time and expertise, so you’ll need extensive experience to move into the upper bracket of income earners. Once you have the necessary experience, you’ll be qualified to accept lucrative contracts from government and industrial clients.

    After about 10 years of unsupervised experience, you should be ready to perform any type of locksmithing job in your niche. However, because locksmithing niches can be quite specialized, you may be limited in the types of jobs you can accept.

    Types of Locksmith Jobs

    Locksmith companies can offer commercial, residential or automotive services. Many locksmiths specialize in areas such as safe cracking or commercial locksmithing. Learning how to open a locked safe is a challenging process that can take years to master. Because this skill can put safe owners at risk of theft, the ethics surrounding safe cracking and other forms of lock picking are vitally important for locksmiths.

    An auto locksmith offers lock picking services for automobile owners who are locked out of their vehicles. They also possess the skills to start all types of vehicle ignition systems without keys. Automotive locksmithing requires the mastery of a wide range of skills, including picking locks, making keys and installing electronic locks.

    How Much Does a Locksmith Earn?

    Locksmiths earn salaries ranging from around $30,000 to $70,000 per year, according to the U.S. Bureau of Labor Statistics. Earnings depend on a locksmith’s experience and the number of hours he or she works. Hourly earnings can range from around $15 to $33, depending on experience and specialization.

    The job outlook for locksmiths will be stable in the coming years, and it will tend to grow at the same rate as the overall economy. Locksmithing is a job that will always require human hands, so artificial intelligence technology won’t directly impact the industry. However, as the economy changes, locksmiths with the largest range of skills will have the best employment prospects.

  • CodeGym Launches Java Course With 100% Job Guarantee

    CodeGym, an online education platform, has announced the launch of its Java programming course with a 100% job guarantee.

    The course is designed for students who want to pursue a career in software development and aims to provide them with the skills and knowledge necessary to secure a job in the industry. This can be a game-changing development for India’s vast population of young people who are struggling to find employment.

    Exploding job market

    With more than 100,000 openings on Naukri alone, the demand for Java developers in India is skyrocketing. Despite that, employment rates for fresh graduates remain abysmally low at around 10%. For most students, the only way to secure a job is through family connections or expensive coaching centers.

    Because of this, the tech market is experiencing serious shortages of skilled workers and is losing the recruiting battle to global capability centers. These centers represent a brain drain for India, as they often lure away top talent with the promise of better salaries and working conditions.

    Even still, more than 14,000 startups were launched in 2021, making it the third-largest startup ecosystem in the world. The business continues to boom, and the job market will continue to grow along with it.

    Education remains an obstacle

    The main obstacle to employment for many young people in India is the lack of quality education. While the country boasts some of the best institutions in the world, such as the Indian Institutes of Technology (IITs), a majority of students attending these schools come from wealthy families.

    As a result, lower-income students are forced to attend second-rate colleges that do not provide them with the skills they need to succeed in the job market. In addition, the vast majority of colleges in India do not have adequate facilities or experienced teachers.

    This is a serious issue because it means that up to 80% of graduates cannot find employment. After all, they do not meet job requirements. Despite receiving plenty of education, they are not able to get jobs because they don’t have the skills employers are looking for.

    Why Java?

    Java is one of the most popular programming languages in the world and is used by some of the largest companies, such as Amazon, Google, and Facebook. It is also the language of choice for Android development. Because of its popularity, learning Java can make it easier to find a job in the tech industry.

    High demand, low competition

    No matter how many graduates are churned out, the number of people with the skillset required to work in the tech industry will always be low relative to demand. New applications and technologies are being created every day, and there is a constant need for people who can develop and maintain them.

    In India, the number of graduates with the skills necessary to work in the tech industry is even lower because of the poor quality of education. As a result, those who do have the right skill set are in high demand and can often negotiate a higher salary and better working conditions.

    Huge salary upside

    The career path of a Java developer can provide significant financial rewards. Some companies are willing to pay 7, 10, or even 25 LPA for a senior developer, which is ten times the average Indian salary. In addition, many developers can find employment outside of India, where salaries can be even higher.

    While the starting salary for a Java developer is not as high as that of a doctor or an engineer, the upside is much greater. A Java developer with 5 years of experience can easily earn more than an engineer with the same amount of experience.

    Job security

    The demand for Java developers is not going to decrease anytime soon. It is only going to increase as more and more companies move towards digitalization. More than 1.1 billion Indians will have internet access by 2025, leading to higher demand for new applications and support.

    This means that those who have the skillset will be able to find secure and well-paying jobs for years to come.

    While other industries were impacted heavily by the COVID-19 pandemic, hiring for IT-related positions in India has continued unabated. Once you have the necessary skills, you can be confident that you will be able to find work.

    CodeGym Java University

    The CodeGym Java University course is designed to give students the skills they need to pursue a career in software development, and it is done with the help of experienced mentors.

    The fundamentals course takes place entirely online, is designed to take 12 months, and is divided into several main stages:

    • Java Syntax: In this stage, students will learn the basics of the Java programming language. This includes learning how to write code, compile it, and run it.
    • Java Core: In this stage, students will learn more advanced topics in Java. This includes object-oriented programming, exception handling, and collections.
    • Final project: After solving 576 practical tasks, you will be asked to create a project of your own. The project will be graded by experienced developers, and upon successful completion, you will receive a certificate from CodeGym.

    Also, in the program there are topics like Spring and Spring Boot, Hibernate, Databases, etc.

    Mentor-led instruction

    One of the key features of CodeGym is live mentor instruction. Throughout the course, you will be assigned a personal mentor who will help you with the material and provide feedback on your progress.

    Your mentor will be an experienced Java programmer who can answer any questions you have about the language or the industry. In addition, they will be able to help you with your final project and give you tips on how to make it successful.

    This one-on-one instruction from a qualified developer is exactly the thing that has held back the Indian educational system in the past and led to so many unprepared graduates.

    Anyone can be a developer

    The core principle of every CodeGym course is that anyone can learn to code. The course is designed in such a way that it can be completed by people of all backgrounds and experience levels. Whether you are a complete beginner or have some experience with coding, the course will be able to take you to the next level.

    In addition, the CodeGym team provides 24/7 support to students who need help with the course material. Students can also connect through the Slack chat, where they can ask questions and help each other out.

    100% Job Guarantee

    Once you have completed the course, CodeGym will help you find a job in Java programming. You will finally have the necessary skills and experience to chase down one of the thousands of openings in India and around the world.

    The 100% job guarantee is a fantastic opportunity for those who want to pursue a career in programming but are struggling to find employment. With the help of CodeGym, you can be sure that you will be able to find a job in the industry.

    Final thoughts

    If you are a student in India who is interested in pursuing a career in programming, CodeGym’s Java University course is the perfect way to get started. With its 100% job guarantee and mentor-led instruction, you can be sure that you will be able to find a job in the industry.

  • Top 7 Ways To Retain Straying Customers In B2B

    Not every customer is the same, and retaining them is a balancing act between personalised tactics and broader recognition of in-house development. This is especially true when it comes to B2B companies. For B2B, customer retention is one of the most important aspects of the entire organisation. A loyal customer means recognition, and recognition means respect in the industry and repeated custom.

    So what happens when you notice clients beginning to lose interest? As mentioned previously, not every customer is the same, but the processes which you put in place to deal with straying customers should be followed by everyone. Here are seven things you should do to retain any straying customers:

    Analyse Your Data

    It goes without saying that data is important when it comes to your company’s relationships with clients. Often, however, there can be a mound of data which becomes a bit meaningless when merged together. It is important, therefore, to streamline your focus, work out your broader retention rate and see if there’s anything you can do from there.

    Work Hard

    You might be thinking: well, obviously. But it cannot be stressed enough how straying customers can always be diagnosed at the source. How is your company operating? What is your employee engagement like? Are there weekly training programs, web content and client communication? Try to see if you can improve the company itself, relay the cracks in the road and that could help you save customers who are straying from the path.

    Focus On Improving The Service Or Product

    Like the last point, this is another area of customer retention which can be sorted out in-house. What is the service you’re providing and is it still relevant? If you are no longer feeling invigorated by your own business then why should the customer? Try to see if there are any updates or changes you can make to improve what your business is offering.

    Create A Feedback Loop

    It’s important to remember in business that the customer doesn’t bite. In most cases, they will be more than happy to discuss any problems they are having, so try to create a feedback loop to understand customer sentiment. This should also help with the transparency of your company, which is another important factor for B2B and should help the customers feel more connected to your business as a whole.

    Liaise With Other Stakeholders

    As a business, you will have many stakeholders with opinions, so it’s a good idea to go to them and ask how this issue should be sorted. Try to direct your communication with rival stakeholders with similar interests. Is there a reason why these customers are straying? Where and who are they straying to? The likelihood is they will have gone through what you are going through, so try to learn from them and pick up on points which you can bring to your own company.

    Look Into Marketing Channels

    It is likely that you have already founded a solid marketing campaign, but that doesn’t mean you are taking advantage of every avenue. There are plenty of B2B marketing channels, so take a long look into all of them and see if you’re still marketing yourself efficiently to existing customers.

    Develop Better Reward Schemes

    Reward programs are integral to retaining a B2B customer. There may be a wider B2B landscape trend when it comes to straying clients, so work hard to create a reward scheme which will be personalised to them. Invite them to remain loyal to your company through these rewards and endeavour to formulate programs which will invigorate and encourage them to invest.

  • Chargebacks911 Dispute Management Review

    Chargebacks911® is the original end-to-end chargeback management platform, offering a complete suite of management solutions with transparent accountability. The company’s data-driven platform touches every step of the chargeback process, helping eCommerce merchants remediate risk and recover revenue lost to chargeback fraud.

    This review dives into the features and applications of the Chargebacks911 platform to help you decide if it’s really right for you.

    Who is Chargebacks911?

    Founded in 2011, Chargebacks911 (Cb911) specializes in helping merchants prevent chargebacks, mitigate risk, recover lost profits, and enhance customer experiences. The company originated with two eCommerce merchants who were frustrated by chargeback losses. Unable to find an available solution that worked, the pair created a process built around patented methods and technology.

    Chargebacks911 takes a unique approach to chargeback management—one based on trial and error, real-world experience, and proven effectiveness. The company’s solutions focus primarily on dynamic chargeback tools that target three distinct facets: chargeback prevention, chargeback remediation, and chargeback intelligence.

    Leveraging Cb911’s Services to Prevent Chargebacks

    Chargebacks911 works directly with clients to create customized prevention strategies. Recognizing that a variety of chargebacks can stem from merchant missteps, Cb911 offers a 106-point review of the business’s processes and policies to uncover potential chargeback triggers.

    The Chargebacks911 platform is also built to facilitate the use of outside prevention tools. For example, Ethoca Alerts and Verifi Cardholder Dispute Resolution Network (CDRN) are examples of alerts services that notify merchants about pending disputes. Merchant can then avoid a chargeback by issuing a transaction refund.

    Both providers have their own coverage network, but Cb911’s Enhanced Alerts combines those with its proprietary network, thereby offering the widest alert coverage available. Plus, any combination of the three networks can be accessed directly through the client portal, a helpful feature for merchants.

    Card network inquiry programs such as Verifi Order Insights and Ethoca Consumer Clarity can also be integrated into Cb911’s platform, simplifying access for users of these products. The same is true of Verifi Rapid Dispute Resolution (RDR).

    Combining access to all these tools into a single dashboard helps streamline operation. Users should note, however, that the Cb911 platform only facilitates these extra programs; merchants will still need to enroll with the different providers.

    But the bottom line is still this: does the Cb911 platform help merchants reduce chargebacks? Yes, it does, by identifying and resolving internal issues while consolidating and simplifying the addition of external programs. The company offers a “Fast-Track” integration designed to have clients set up and receiving prevention alerts in as little as 24 hours; many merchants report seeing positive results almost immediately.

    Fighting Back Against Friendly Fraud

    Prevention is important, but the experts at Chargebacks911 understand that no single prevention effort will be 100% effective. Most fraudulent claims against a company actually happen after the fact. Customers practice what is known as “friendly” fraud: using false claims to obtain unwarranted refunds.

    The Cb911 platform addresses this post-transaction fraud through exclusive tools. Blending patented technologies and expert human analysis, the company’s proprietary Intelligent Source Detection allows the merchant to look beyond chargeback reason codes and find the true source of every chargeback.

    This leads to more precise targeting of illegitimate claims, and customized chargeback responses that are tailored to each specific case. The result is more chargeback reversals, more recovered revenue, and fewer cases moving to arbitration.

    While Cb911 does not discuss specific win rates, they’re confident enough in their product to offer the only performance-based ROI guarantee in the industry. Merchants can follow their cases and track KPIs through Cb911’s extensive, user-friendly reporting capabilities.

    More Data for More Effective Strategies

    One of the keys to Chargebacks911’s effectiveness is the extensive chargeback data the company has collected over the years. As one of the very first chargeback companies to leverage deep data, Cb911 has been gathering more information, from more sources, for longer than any other provider. Merchants benefit from this rich resource, which continues to grow daily and is consistently cross-referenced for accuracy.

    The company’s vast knowledge and expertise have led to exclusive partnerships with some of the largest banks and processors in the world. In fact, Chargebacks911 has more industry integrations, prestigious partnerships, and world-renowned experts than any other service provider.

    Expanding Their Role

    With the 2020 launch of their sister brand, Fi911, the company expanded into the sphere of financial institutions. Among other things, Fi911’s offerings help standardize, create, and facilitate communications between merchants and acquirers.

    Chargebacks911 is expanding its role in other ways, as well. Even while successfully working within the existing system, the company leads the fight for long-term industry change, lobbying for updated regulations, speaking out in support of merchants, and developing technologies that benefit clients and non-clients alike.

    Another thing to note: unlike other large providers, Cb911is an independently held company. That could potentially mean they have less access to the operational resources provided by conglomerates such as Visa or Mastercard. Even so, Chargebacks911 is a global company with offices on three continents. The lack of a corporate parent allows them to focus wholly on the client’s needs, with no inherent preference for particular products or services.

    Chargebacks911 Pros and Cons

    Here’s a quick look at some of the benefits and challenges of using Cb911

    Pros:

    • Solutions for every stage of the chargeback process, from prevention to representment and beyond.
    • Agnostic design allows seamless integration; strategies are tailored to the merchant’s needs.
    • Highest win rates; No-risk, performance-based ROI guarantee.
    • Easy-to-use customer portal and dashboard; dedicated account manager.
    • Certified PCI1 (highest level) and SOC 2 compliance for maximum data security.

    Cons:

    • The company’s platform may not be cost-effective for smaller businesses.
    • Merchants dealing with extensive criminal fraud may need a secondary product for optimal impact.
    • As an independent company, might have less access to the operating resources of corporate-owned providers.

    Chargebacks911 was one of the first companies dedicated to helping merchants deal with chargeback fraud. Companies worldwide recognize Chargebacks911 as thought-leaders in chargeback management. Their platform is flexible, intuitive, and widely used by merchants in all verticals. More importantly, the solution has been proven to be highly effective for chargeback risk mitigation and profit recovery.

  • 5 Tips on starting a business and how virtual offices can help?

    Virtual offices are becoming more popular than ever before! And with good reason.

    They reduce costs, increase productivity, and provide a professional image for your new small business.

    Starting a business is a rewarding and exciting endeavor, but it can also be costly and stressful.

    There are numerous variables to consider throughout the process, which can be mentally and financially draining.

    Who are your potential customers? How do you promote your company? Can you afford to start your own company? Where will you conduct your operations? How do you intend to keep it running?

    A virtual office can help startups and new small businesses solve many problems. While a virtual office is a digital service that exists in the intangible expanse of cyberspace, it still provides many of the same benefits as a physical office space.

    With today’s technology, people can work from anywhere, whether you’re working from home to save money or relaxing in the Caribbean while still running your business.

    If you own a startup or small business or are considering starting one, a virtual office can provide you with a suite of powerful tools to help you make the process efficient, cost-effective, and successful.

    Here are five ways a virtual office can help you start your business:

    Create a professional image

    Particularly in today’s ultra-competitive, quick-paced market, image is everything.

    You seriously reduce your chances of success if you use your home address for business purposes on your website, in your email signature, on your business cards, or in brochures or newsletters.

    When choosing a virtual office for your company, make sure that it has a physical address in a busy, commercial area and, ideally, one that looks great from Google Street View.

    Attempt to stay away from P.O. boxes as they appear unprofessional on marketing materials and contact details.

    Additionally, if someone looks up your address and sees that it is a residential property, they might reconsider doing business with you in light of tools like Google Maps and Google Street View.

    Get Operational Instantly

    Starting a successful business can be challenging. Numerous obstacles will stand in your way, and if you’re not making money, you’re probably spending it.

    Making strategic decisions early on in the development of your new company will help you become operational and start bringing in money as soon as possible.

    With a virtual office, you not only get a professional business address that you can use right away, but you also get help with shipping and receiving.

    To help you launch your business quickly and easily, a reputable virtual office provider will provide you with secure mail and package holding and forwarding services as well as a dependable telephone service

    Keep Overhead Costs Low

    Saving money results in income. If you’ve started to calculate the startup costs for your own business, the figures might have discouraged you.

    Commercial office space can come with hostile, locked-in lease terms, crippling utility costs, and other hidden fees that can crush one’s dreams.

    The right virtual office service will be able to save you money by providing much lower costs, commercial shipping rates, and flexibility to allow you to grow your business at your tempo and make strategic choices without being penalized by a business realtor or landlord.

    Access to Professional Space

    A virtual office can give legitimacy to your new business, but what happens when you need to host a meeting or meet with a potential client who doesn’t want to use your home or a local coffee shop? This scenario is unavoidable as your company grows.

    A perfect virtual workplace issuer may also be capable of providing you and your commercial enterprise bodily assembly rooms and work area for the quick term, final minute, or occasional use.

    When selecting a virtual office service, ensure that they can provide a physical workspace if needed. Some of the more prestigious virtual office and shared office space providers even have professionally staffed reception areas and waiting areas.

    Better SEO and Google Rankings

    Google has started giving your company’s “NAP” (name, address, and phone number) more weight, and thanks to tools like Google My Business, local businesses can now take advantage of more targeted search results.

    You can establish a reliable location for your new company with a virtual office without actually needing to set up a physical office space.

    This may have a significant positive impact on local search engine optimization outcomes.

    A virtual office that gives you a phone number and an address in your target area will improve your search results if you want your new business to rank well for particular local search terms but don’t have a physical location.

    Conclusion

    Investing in a virtual office can have an immediate impact on your company.

    We are confident that you can launch a successful business. To protect your startup budget, grow rapidly, and maintain your focus and productivity, it’s crucial to make the right choice at the right time.

    Check out our services page for more details about Kumospace virtual office solutions and how we can help you launch a new small business or expand an existing one.

  • 6 Reasons Why you Need to Buy the Best Term Insurance Plan in India

    Financial independence is one of the most important things in life these days. Every other person aspires to live a happy and comfortable life, and for that one needs to invest early on to create that savings pool. However, it’s also important to secure the life of your loved ones without financially. The best way to do so is to go in for the best term insurance plan in India as that would offer your family with a financial safety net that they would be entitled to in case of any unforeseen event.

    The best term insurance plan in India offers an individual a range of benefits and additional guarantees even though it’s a pure life cover. It will provide the policyholder and their family with a sense of financial support in case of a critical illness, accidental death benefit, and disability benefits as addons to the cover.

    In this article, we will look at a few points as to why you should invest in best term insurance plan in India at the earliest.

    What is a Term Insurance Plan?

    A term insurance plan is a pure life cover that guarantees a sum assured to the policyholder’s family in the untimely demise of the policyholder. However, it’s important that an individual invests in best term insurance plan in India early on in their lives to benefit from a higher coverage at lower premiums. As one ages, the premiums tend to go higher, and the amount of coverage drops. You can take help of a term insurance premium calculator to figure out the best course of action as it will give you automated accurate results pertaining to premiums on your preferred coverage amount making the whole process of selecting a cover less tedious.

    Reasons to Buy the Best Term Insurance Plan in India

    There are plenty of reasons to invest in the best term insurance plans in India, and one of the top reasons is the financial assurance that one’s family gets in the unforeseen event of the policyholder’s death. While other investments take time to liquidate, a term insurance plan gives access to immediate funds to meet their expenses making it one of the best investment options available.

    Affordable Premiums:

    If one invests early in the best term insurance plan in India, they get access to reduced premiums for a higher sum assured. There are multiple insurance service providers offering a variety of plans in the market, and it’s best to do your research before investing in one to get the best rates on premium for maximum coverage amount.

    Easy Claim Settlement Process:

    One of the best factors of term insurance plans is their quick claim settlement. Since most leading insurance providers have an in-house claims settlement team, all genuine claims settlements are cleared within a few days to provide security to the policyholder and their family. Moreover, the claim settlement process is hassle free giving the family time to grieve without having to run from pillar to post.

    Critical Illness Cover:

    We know how costly healthcare is getting by the day, and any incidence of a critical illness is more than enough to wipe out one’s life savings. The best term insurance plan in India

    provides financial security in case the policy holder is diagnosed with a critical sickness, and a lumpsum amount is paid out on diagnosis, without having to wait for hospital bills.

    Accidental Death Benefit:

    We know the significance of financial support in case of sudden demise of an individual due to an unfortunate event such as an accident. In such an instance the policy provides a higher payout to the family as financial support.

    Tax Benefits:

    One of the reasons you should buy a term insurance plan is to achieve tax benefits.

    Thus, if the individual pays out the premium of the term insurance plan up to a certain amount, the term insurance plan would save a certain amount of money in tax under section 80C of the Income tax Act.

    Financial security is very important for survival, and one cannot always rely on others for security. However, term insurance plans provide the cover that is required by the policyholder if they are no longer there to support their family.

    The best term insurance plan in India provides you with optimum benefits to living a worry-free life as you can be sure that no matter what life holds tomorrow, your family won’t have to compromise on their dreams and ambitions. Therefore, even though it’s a pure life cover without any savings or maturity benefits component involved, it’s still one of the best investment options due to its high liquidity and assured coverage to give your family the right to living with dignity!

  • Funding A Startup? Important Facts To Keep In Mind

    A startup investor is someone hungry for staking their money in a new business with a growth prospective.

    They are constantly on the lookout for strong signals that can persuade them to invest their money.

    Keep reading to understand the main areas to focus on when funding a startup and valuable tips.

    What is a Startup?

    As the name suggests, a startup is a business in the initial stages of formation. The founders usually finance the business from many sources.

    It can be personal savings, loans from financial institutions, seed capital, financing from angel investors, incubators, or accelerators.

    There are many types of startups; however, the most common are small businesses, buyable, scalable, offshoot, and social startups.

    The idea behind startups is to develop products or services, bring them to the market and find acceptance among customers.

    Why Do Entrepreneurs Fund Startups?

    In answering this question, we must understand why startups need funding. A new business requires funds or capital to take off, increase visibility and attract the attention of a wide market.

    For this, they need to raise capital to support the business venture, and that’s where funding comes in to provide the resource.

    Mostly, funding comes in the form of cash but can also be the effort or time taken to build the business at the foundation stages.

    With this in mind, why should you fund a startup as an entrepreneur?

    First things first, entrepreneurs enter into business to make money. When you put your hard-earned money into a startup, you want to be sure it will come back with interest.

    Other than supporting the startup venture, you’ll want your money to multiply because you’re an entrepreneur.

    In addition, as a funder, you’ll develop an interest in the upcoming startup and see it grow into a big venture.

    In America, some of the big names have a history of being financed through successive stages of funding. It can be at the beginning, customer or market, and credit stage that includes taking out external loans.

    Some of the most successful companies that took off to grow into big names as a result of funding include Apple, Oracle, eBay, and Microsoft.

    When building a business from scratch, it’s always important to be prepared for any eventuality. Funding startups is likely to continue into the future as innovation takes center stage.

    Things To Keep In Mind Before Funding A Startup

    Now that you understand what a startup is and why people or institutions invest their money in startups, next, we look at things to keep in mind before funding a startup.

    1. Examine The Growth Prospects Of The Startup

    Knowing if the startup has a growth projection in the short term and long term is one of the most important things to consider before you advance money for its take-off.

    According to research, most startups die at the infancy stage due to a lack of planning funds running out, lack of proper research, ineffective marketing, poor partnerships, and lack of interaction with industry experts.

    Likewise, a big mistake most new companies make is to scale up too quickly by bringing onboard new people, spending a lot of money, and trying to get new customers without nailing down their product, marketing, and business model.

    A startup with growth projections has clear goals and ways to meet its objectives.

    2. Look at the Executive Summary

    The executive summary contains vital information about why the startup wants to exist. Remember, there’s no ton of information about the business because it’s new.

    Therefore the summary should be convincing and contain valuable information as well as the value proposition of investing in the business.

    3. Interrogate the Business Opportunity

    The startup should explain how it’s different from other companies and the nitty-gritty details about its products and services.

    The proposal should also include the target market, audience, competition, and why they deserve funding.

    They should give projections about the market segments they want to target and share of the market.

    4. Scrutinize the Financial Statements

    Even though it’s a new business, the proposal should provide details about their financial stability and what they’ll contribute to the project.

    Before you step in, the founders will have to raise the initial capital. A small business may get an online loan depending on the nature of the venture.

    A payday loan is also an option if the founder is employed in an organization and the startup is part of their side hassle. Whatever the source, these details should be available in the business plan.

    The financials should also show revenue and expense structure to up their odds of getting funded.

    5. Examine Current and Future Credit Requirements

    Of course, as the business expands, it will require funding which can be from banks, private lenders, credit unions, or CreditNinja loans in Minnesota , for example.

    The startup must disclose their estimated funding requirements and be candid about their expectations from lending institutions.

    They should also disclose how they intend to use their future cash requirements and whether the business will meet loan repayments at that time.

    Usually, as a business grows, metrics like credit score and reports will be used to determine its financial health. Thus the startup should detail how it intends to maintain sound financial stability.

    6. Review The Management Team

    The startup should give you a short description of the management team.

    As an investor, you just don’t want to know the ins and outs of the finances. You also want to know about the people within the business, particularly the directors, management team, and staff.

    The team should have a distinguished background to whom you invest your money. They should spill the beans about the founders’ educational background, work experience, and financial stability.

    Do the founders have a history of bankruptcy or debt repayment? Ask that too.

    Conclusion

    You need to be confident, which is vital to your venture’s success. When funding a startup, you stand a better chance of being successful if you exude confidence in your dealings with the venture. By scrutinizing all the details, you should be certain that the startup meets the criteria of being funded and taking off on a good start. Most importantly, keep your chin up, believe in the business, and know that it takes time for a business to scale up.

  • What Should Startup Owners Know About SSDs?

    A startup owner needs an SSD drive to store their data because it is faster than a hard drive and the data can be accessed quicker. An SSD drive is an excellent choice for startups because it provides a lot of storage space and the performance is better than any other type of storage device.

    There are a number of different types of drives on offer, but we will just focus on SSDs. A solid-state drive (SSD) is a form of mass storage device that uses flash memory instead of a spinning hard disk drive (HDD).

    Please read on to find out all you need to know about SSDs before incorporating these devices in your business.

    What is an SSD?

    An SSD (solid state drive) is a storage device that can be installed in your computer to replace a traditional hard disk drive. It has no moving parts, so it’s ideal for applications that require faster access to data.

    SSDs are more durable, emit less heat, and consume less energy without these components. They’re also more resistant to regular drops and wear and tear because they don’t have little pieces that can be damaged.

    NAND technology is used in the vast majority of SSDs. This sort of flash memory organizes your files into grids, with each grid storing between 256KB and 4MB and allowing your PC to retrieve your contents almost immediately.

    SSDs are similar to RAM in your computer in that they do not lose information when the power is turned off. This enables them to perform significantly faster and with higher dependability than a regular hard disk.

    SSD installation across your business network can boost productivity and employee satisfaction. The cost of an SSD is relatively cheaper compared to the cost of a regular HDD for the amount of storage space required by most corporate desktops and laptops. Furthermore, a little investment in an SSD may boost the speed of your old equipment sufficiently to justify extending its useful life.

    SSDs Vs. HDDs

    The primary distinction between a solid state drive (SSD) and a hard disk drive (HDD) is the manner in which data is stored and accessed. To access data, HDDs employ mechanical spinning disks and a moving read/write head, whereas SSDs use memory chips.

    If cost isn’t a concern, SSDs are a preferable choice, especially because contemporary SSDs are nearly as reliable as HDDs.

    The gap in speed between SSDs and hard disk drives is huge. SSDs are highly fast in all areas, however the difference is most obvious while executing specific activities.

    However, it is not necessarily an either/or situation. The operating system (OS), programs, and frequently used files are installed on an SSD, while other data is stored on an HDD, which is often larger and less expensive.

    Using your SSD to run your operating system and applications is an excellent approach to improve SSD performance.

    As long as affordability isn’t a concern, SSDs win out – particularly since current SSDs are nearly as reliable as HDDs. Today, HDDs are only useful for storing vast volumes of data that will not be accessed frequently. Therefore, if you can afford it, an SSD provides better speed and a faster computing experience.

    How Long Does an SSD Last?

    While SSD cells may have a limited lifespan, this isn’t really an issue today. SSD longevity myths are based on assumptions from the 1990s and early 2000s.

    In theory, more data written to a cell causes it to wear out faster. A contemporary SSD cell can sustain roughly 3,000 write cycles, which may not appear to be much. However, thanks to the wear leveling principle, the SSD distributes write operations uniformly across all cells, minimizing cell death and extending the drive’s lifespan.

    Furthermore, SSDs have spare cells that restore dead cells. This is known as poor block management, and it is the reason why the larger the SSD, the longer its lifespan.

    SSDs are a newer way of storing data. They are faster and more reliable than HDDs. They also have a higher capacity than HDDs and can store more data on the same size drive.

    The main reason that SSDs are so popular is because they have no moving parts, which means they are less prone to failure and last longer than traditional hard drives.

    SSD technology is also more power efficient because it doesn’t need as much energy to do its job. This makes them a great option for laptops and other mobile devices.

    What You Need to Know about SSDs for Your Startup?

    How Does Using an SSD Make My Startup Faster and More Efficient?

    An SSD is a type of storage device that can be used in a computer to store data. It is an abbreviation for Solid State Drive, which means that the storage device does not have any moving parts.

    A startup company can use an SSD as it will make their startup faster and more efficient by providing them with the ability to store and retrieve data without having to move around mechanical parts.

    The benefits of using an SSD are:

    • Faster startup time
    • Faster data access
    • Faster file transfer
    • More efficient power usage
    • Less power consumption
    • Lower cooling costs
    • Increased reliability

    SSDs Drawbacks

    The cost of enterprise level storage (found in servers) has always been high, and the cost of equivalent SSD technology is slightly higher again.

    SSDs become increasingly expensive for personal storage as storage capacity increases. Traditional HDDs may be a superior option for archiving vast volumes of data, but SSDs are often the best option for everything else.

    Conclusion

    Storage devices are an important aspect of any modern, functioning business. From storing customer data to company data and more, they are a crucial part of the digital world.

    SSDs are fantastic gadgets that use nonvolatile flash memory to enable computers to run at considerably higher speeds.

    There are numerous advantages to adopting an SSD, including faster system performance, increased reliability, and improved system cooling. All of these advantages are important since they will save you time and money in the future.

    Overall, having an SSD can benefit everyone. SSDs can be valuable to you whether you are a student, faculty member, or staff member.

  • Use the PNB Housing EMI Calculator to Plan your Home Loan

    Owning a home is the pinnacle of life’s achievements for most people. In the early days, it used to be a near-impossible goal to reach. Today, in the era of flexible equated monthly installments (EMIs), achieving this goal is much simpler.

    However, these EMIs are a double-edged sword. On the one hand, you get an easy way of paying back your housing loan, but on the other hand, you may get overwhelmed by this monthly payment that you have to pay every month. And this is true even for the best PNB home loan in India.

    EMI Explained

    EMIs give you the luxury of paying back your loan amount in comfortable installments over several years. The repayment period (the tenor) will determine the amount you pay as EMIs each month.

    Once your loan gets sanctioned, your lender will issue an amortization schedule. This schedule gives you information on the amount of the EMI and a year-wise breakup of your balance loan amounts.

    Calculation of EMI

    The calculation for a home loan EMI is complex, and we use many variables to arrive at the final figure.

    The main determining factors of an EMI are the principal, interest, and tenure of the loan. The dominant component of the EMI is the interest due to the high value of the principal. The interest reduces as the loan gradually gets paid off.

    The EMI uses these variables, but the value of the EMI remains constant at all times.

    Formula for EMI

    The formula that lenders use to derive the EMI of a home loan is as follows:

    E = [P x R x (1+R) N]/[(1+R) N-1]

    Where:

    E = EMI

    P = Principal amount

    R = Monthly interest

    T = Tenure

    N = Number of months

    So, for example, a loan for 20 lakhs at 7.5% per annum and a tenure of 240 months (20 years) would generate an EMI of:

    EMI = (20,00,000 x 0.00604) [(1+0.00604) 240/ (1+.00604) 240-1] = INR 16,112 per month.

    (Where R = (7.25/100)/12 = 0.00604)

    Benefits of Home Loan Calculators

    Even for the most adept people, calculating the EMI of a home loan using the above formula can be quite overwhelming. But knowing how to calculate your EMI by changing the variables can help you get the best deal and most suitable home loan in India.

    You check the different EMIs by varying the numbers in seconds with a home loan calculator.

    Calculate Your EMI

    You can get the exact EMI in seconds by using the PNB home loan calculator. It puts the affordability factor in a better perspective. By changing the numbers, you can arrive at an EMI that suits your budget.

    For example, increasing the tenure to the maximum limit can considerably reduce your EMI.

    See Your Interest

    You might be interested to see the extra amount you will be paying over and above the principal (interest). EMI calculators give you that figure.

    Loan Comparison

    An EMI home loan calculator helps you compare loans offered by different lenders.

    Plan Your Tenure

    You can see how the EMI differs according to different tenures. It is a great facility for long-term financial planning. If, for example, you can pay higher EMIs, then you can choose a shorter tenure and finish your loan sooner.

    See Your Amortization Schedule

    You can see the breakdown of both components of our loan, which gives you a clear picture of how your interest reduces and the principal increases. Although lenders provide this information, a housing loan calculator gives you access to it at all times.

    Using the PNB Housing Loan EMI Calculator

    PNB Housing Ltd brings you a convenient EMI calculator. Using this handy tool, you can get all the information about your housing loan even before it gets sanctioned. Here are the steps to use the PNB housing loan EMI calculator:

    • Enter the principal amount
    • Key in your chosen tenure
    • Add the interest amount in the relevant field

    Once you enter these three variables, you get the figure of the EMI you will have to pay each month. The beauty of this calculator is that you can add different permutations and combinations to find a housing loan that is best suited to your requirements.

    Conclusion

    PNB Housing Ltd provides you with all the tools to make your dreams come true with a housing loan from them. Using the PNB home loan online EMI calculator puts things in perspective. It makes applying for a loan and getting it approved an easy and stress-free experience.