StartupTalky

Tag: 🔍Insights

  • How Blusteak Media clocked 5 Million revenue; Plans to Become 360° Digital Marketing Agency in Kerala

    Blusteak Media is a creative digital marketing agency located at Kottayam, Kerala. Lets learn from Jaison Thomas and Telson Thomas along with Dixon Alex, the co-founders of Blusteak Media, about the startup story and How Blue Steak managed to clock a revenue of 5 Million.

    And the Journey Begins…

    From our childhood, me and my brother (Jaison and Telson Thomas) always had a dream about making a mark in the world, and to pursue our dreams so that we can influence the lives of many. But, we had no idea, our mind was blank except for the urge to do something of our own.

    By the time Facebook became a thing in India and Orkut became history, even though we had no internet connection in our homes, we would go to the nearest cafe to surf through the net, and especially really enjoy all the internet “memes” thoroughly.

    Inspired by many of the much loved meme pages in Facebook, we decided to start one of our own. We initially tried to build up several pages but everything failed miserably, but our perseverance gave us the energy to give it one more shot. This time fortune was on our side, the last two portals that we began ended up getting more that 5.5 Million followers.

    We managed and generated sufficient income from those sources for about 3 years. All these time me & my brother were doing our schooling & college degrees.

    Launch and Shut Down of their First App – Dudeapp
    Bluesteak Media – Launch, Initial Challneges, Growth
    Strive Campaigns by Bluesteak Media
    FAQ

    Launch and Shut Down of their First App – Dudeapp

    We decided that we needed our own platform or an app to scale and stabilize the business, By that time apart from us brothers, Dixon Alex also made it into the list of cofounders. We then together developed and launched an app called Dudeapp, which was a UGC segregation platform.

    Dixon Alex - Bluesteak Co-founder
    Dixon Alex – Bluesteak Media Co-founder

    In the initial month it saw itself grow into a user base of more than 50,000. The app was covered by several news outlets and gave us tremendous exposure. Unfortunately, due to technical disabilities we had to shut it down soon.

    Bluesteak Media – Launch, Initial Challneges, Growth

    We got the opportunity to learn in depth with tremendous exposure on practical experience on social media platforms. At that time, we knew that we have developed a set of skills that is in huge demand for the business world. So decided to start a social media agency which was one among the first of its kind in Kerala, we named it Blusteak Media.

    We had no experience in business development or in how to build up real world professional connections. We had only a very few amount of money left with us since all the other revenue sources has been shutdown. Hence we had only one shot at marketing our company and if it did not hit the spot, that would mark the end of it and we would have been forced to quit and join some other day jobs to sustain our daily needs.

    While we were brainstorming ideas to effectively market the startup to businesses, one of our friends, Dimple Meera Jom contacted us and shared her idea of conducting a 1 day workshop on Social Media Marketing to students and businesses.

    We thought it out and realized that, this workshop could help us connect with brands and would give our startup a quick boost. Hence we conducted the one day workshop “Swipe Up”.

    Blusteak Media
    Swipe Up Workshop

    Just as we thought, it turned out that one of the main sponsors of Swipe Up was interested to test out digital marketing for their brand. After a couple of meetings, we were able to land our very first client and their budget was enough for us to run the company and to stabilize it by hiring new team members.

    Blusteak Founders and Team
    Blusteak Media Team

    Several other brands soon associated with us we started rolling out effective online result oriented campaigns. We then moved to a new multi-storied office which was situated even closer to the city of Kottayam.

    Some of the great achievements we pulled off was to grow the sales of an Ayurvedic product 600% compared to the sales statistics before us through our well executed e-commerce integration. By this time we had managed to bag half a crore revenue that year.

    Blusteak Media Headquarters
    Blusteak Media HQ

    It was time to level our game up, we plan to become Kerala’s biggest 360 degree digital exclusive marketing agency by 2020. Hence we currently accompany an in house production team for creating social media friendly video ads.

    Strive Campaigns by Bluesteak Media

    Apart from production, what makes us stand out from the crowd is our unique marketing service protocol, known as “Strive Campaigns”. We have been running beta Strive campaigns and it continues to outweigh all other campaigns in terms of results.

    Strive Campaigns by Bluesteak Media
    Strive Campaigns by Bluesteak Media

    Pushing much deeper into online marketing so as to provide maximum value for our clients, we are developing our own wing for technology integrated marketing activities such as Augmented Reality based interactions and chatbot communication. This will enable data collection and Machine learning based data processing methodologies for our clients.

    To summarize about our organisation, We are passionate about creatively passing on the message of an organisation to the masses which will, in turn, help the audience to choose better & worthwhile products and services.

    FAQ

    Who is the founder of Bluesteak Media?

    Telson Thomas, Jaison Thomas, and Dixon Mathew are the founders of Bluesteak Media.

    Where is the headquarters of Bluesteak Media?

    The headquarters of Bluesteak Media is located in Kottayam, Kerala, India.

    When was Bluesteak Media Founded?

    Bluesteak media was founded in 2018 by Telson Thomas and Jaison Thomas.

  • How does Amazon Manage its Supply Chain and Logistics?

    Amazon is now the world’s largest e-commerce company in the world. Many small and medium-scale businesses benefit a lot from Amazon. If you are a curious person and are entrepreneurial in nature, you might wonder very often how Amazon supply chain works. The logistics of Amazon are fairly complex and quite vast. Over the years Amazon has improved its supply chain operations and many other things. Today Amazon’s supply chain is one of the most sophisticated ones.

    Warehousing Strategy
    Sophisticated Delivery Network
    Use of Robots
    Third-party procurement and Self-manufacturing
    Cost-Effective Supply chain
    High-level Automation
    Outsourcing Inventory Management and Insourcing Logistics
    Push-Pull Strategy for Supply Chain Success
    FAQ

    So, Lets look at the Complete process of Supply chain management of Amazon

    The supply chain of Amazon is one of the most sophisticated complex supply chains in the world. It is because of its supply chain, it has achieved such great heights. So, let’s look at the basics of how Amazon manages its logistics? and some of the advanced optimization Amazon does in order to work more efficiently.

    Warehousing Strategy

    Amazon Warehouse
    Amazon Warehouse

    Amazon is one of the influential e-commerce companies because of its advanced warehousing strategy. It has a strategy by which it can locate the desired product properly. All the products are placed strategically so that they can be found easily. The products are segregated infrequently demanded and rarely demanded. Warehouses are optimized really well so that goods can be procured faster.

    They do demand forecasting and keep the products of high demand ready to be deployed. Apart from that they also follow certain quality control rules depending on the product so that the customer gets the best quality product.

    Sohpisticated Delivery Network

    Amazon Drone Delivery
    Amazon Drone Delivery

    The delivery system of Amazon is very sophisticated in nature. The supply chain is very well planned which will help the company to deliver the product properly. For members who have a Prime subscription, their products need to be delivered to them within 2 hours or next day depending on the location. Amazon has put in place a number of techniques that can arrange and pack your product and send it to your home.

    Amazon has deployed a number of drones, robots, and other logistics technologies to help the goods reach your house faster. There are also many other delivery robots through which they are delivering the goods to their customer.

    Use of Robots

    Amazon Kiva Robots
    Amazon Kiva Robots

    Amazon employs technology in its Warehousing to improve its efficiency. It uses a number of robots in its warehouse which helps in arranging the goods, moving them from one place to another.

    Amazon had acquired an automation company called Kiva Systems. It was renamed Amazon robotics after acquisition. These robots decreased human intervention and improved the delivery speed.

    Amazon also implemented drones so that they can deliver their goods where logistics companies could not reach. Amazon has also deployed many small delivery robots which deliver goods to other people. These technologies enhance the delivery speed and make the whole process very easy.

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    Third-party procurement and Self-manufacturing

    Amazon Manufactured Products
    Amazon Manufactured Products

    Amazon is not just a retail e-commerce website now where it sells products from 3rd party. It is a company that ultimately focuses on customer satisfaction. In due course of time, Amazon has looked into possible ways of decreasing the cost of products.

    With time, Amazon started manufacturing its own products like Earphones, iPhone chargers and many other things. These goods were much cheaper than the 3rd party manufacturers.

    The product quality is also much better as the quality control is done by Amazon themselves. This leads to a lot of simplifications and decreases a lot of complications on the part of Amazon.

    Cost-Effective Supply chain

    Amazon has kept the cost of its supply chain very low. Due to its huge economies of scale, it was able to keep its cost very low. The per-unit supply is very cost effective. Amazon has several warehouses of its own and it has automated to a great extent. This is why they have a lot less operation cost than other companies.

    High-level Automation

    Amazon Delivery Robot
    Amazon Delivery Robot

    From its warehouses to delivery, Amazon has deployed a lot of robots to automate it. There are robots that would move and arrange the goods in the warehouse and also packaging the goods. For the delivery, Amazon has deployed drones, delivery robots, to deliver the product to the customer’s house. This decreases human involvement and thus decreases the cost of operation.

    Outsourcing Inventory Management and Insourcing Logistics

    Amazon outsources its inventory management to third parties wherever they see it’s feasible. Outsourcing helps them reduce costs and reduce the unnecessary expansion of the supply chain.

    The third party stores the goods in their local storage and it is not stored in an Amazon warehouse. These third-party warehouses are generally located at special places and are supplied with those goods which are in high demand in that area.

    Push-Pull Strategy for Supply Chain Success

    Amazon implements a push-pull strategy in its warehouse management. The warehouses owned by Amazon are located in more strategic locations. While the Warehouses belonging to the third party are located at other places. So in the case of Amazon’s warehouse, it implements a push strategy and in the case of a third-party warehouse, it implements a pull strategy.

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    Conclusion

    Amazon has designed a supply chain in which it can optimize any part of it. It has introduced high-level automation using robots to decrease human employment. This helps them decrease the cost. From warehouse to delivery it has deployed several robots to arrange pack and deliver the product to the customer’s house. The supply chain and logistics of Amazon is one unique entity in the whole world.

    FAQ

    Does Amazon have the best supply chain?

    Yes, Amazons supply chain is counted as one of the most efficient supply chains in the world.

    What is the revenue of Amazon?

    The revenue of Amazon of 2020 was 21.33 billion U.S. dollars.

    What are the tasks that Amazon Outsources?

    Product Listing and Optimization., Product Photography Services, Managing Sponsored Ads/ PPC, and Customer Support Services are some of the tasks that are outsourced by Amazon.

  • Is Olympics Economically Viable? | Economics of Hosting the Olympics

    Who doesn’t love to watch their favourite country in the Olympics but have you ever thought about the expenditure incurred to host the Olympics? For instance, the Olympics is the most awaited international leading sports event that every sportsman will look forward to.

    Whereby different countries compete with each other in various competitions such as- Athletics, Baseball, Archery, Gymnastics, shooting, Rackets and many more.

    Usually hosting an international event, especially the Olympics, demands a tremendous amount of money to conduct as, every year, different countries make bids million or billion bigger in order to host the Olympics and take charge of the spending that literally covers around tens of millions. So, Let’s understand the economic impact of the Olympics.

    Why is there a Concern about Investing Money in Hosting Olympic Games?
    The Economic Impact of the Olympic Games
    How are the Olympic Games Financed?
    FAQ

    Why is there a Concern about Investing Money in Hosting Olympic Games?

    Regarding hosting the Olympics, the priority task for the hosting country is to fulfil the demands & requirements of the International Olympic Committee (IOC) such as infrastructure updates, Olympics village, operational cost, transportation, maintenance, accommodation and so on.

    Apart from the benefits of the augment in tourism (travel to watch the games) and infrastructure update in the countries or cities, the hosting country has to defray the expenditure of renovation which are accountable to incur beyond the expected budget of the hosting country.

    As is the case, it is reported that many countries encountered an economic downfall and bankruptcy after hosting the Olympics. Instead of uplifting the economy in terms of unemployment, poverty, and many other opportunities, those countries misspent millions of million in hosting the Olympics which seems irrelevant according to the national spending.

    Since the Olympics 1960, No countries or cities haven’t witnessed profit from hosting, though London and Seoul found profitability as they took advantage of existing structures in updating infrastructure and corporate sponsorship in funding other expenses. While the other hosted countries fall into a massive debt that can take decades to pay off.

    Many hosted countries failed to maintain their finances which made them insouciance about investment in the Olympics again and not ready to face tremendous financial instability after hosting the Olympics.

    Here, one such country is taken into consideration, the Rio de Janeiro, When the state won the bid back in 2009, for hosting the Olympics 2016, didn’t see the preordained financial catastrophe after the Rio de Janeiro Olympics 2016. Although for the very first, the country received a global audience of more than 6.6 million in the Olympics, it failed to meet crucial financial arrangements for the games.

    In order to appeal to the audiences as well the IOC, the country did things beyond imagination, where the act of demolition and displacement of the country’s heritage sites occurred, fomented human rights in the nation.

    The former governor  Francisco Dornelles at the time proclaimed ‘state of calamity in the country, where the state’s government is bankrupt and failed to meet further requirements in the upcoming game of Olympics 2016.

    Another example of financial disaster after hosting the Olympics was Montreal’s 1976 Summer Games where they were liable to pay around $1.5 billion, which took three decades to repay.

    The Economic Impact of the Olympic Games

    Instilling in hosting the Olympic tournaments is beneficial and productive is a counterfeit presumption. The government’s agenda on constructing modern arenas is the perception that it will generate fresh careers and the arenas will succeed to be beneficial in the future but it never takes place.

    For hosting the 2002 World Cup, South Korea subsidized a hefty number in constructing 10 new arenas with a capacity of holding 40,000 to 60,000 people. But the aftermath was disappointing, to date they operated simply five of the stadiums and the typical crowd stature for soccer games is roughly 3,000.

    South Korea 2002 World Cup Stadium
    South Korea 2002 World Cup Stadium

    Likely, Nigeria built a stadium for the 2003 African Games with a capacity of holding 60,000 people, but the arena hadn’t been utilized due to the high keeping and conspiracy rate in the area.

    Likewise, there were several further countries like Chicago and Rio de Janeiro that hosted the tournament in the notion that it would boost tourism and also enhance the infrastructure. Nonetheless, some of the countries didn’t achieve the outcome they foresaw but few managed to succeed.

    Sydney developed over 100,000 new job vacancies, Atlanta Olympic Organizing Committee created 77,000 new jobs, South Korea profited an $8.9 billion.

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    How are the Olympic Games Financed?

    Organizing the Olympic Games costs high budgets and the allowance for the Olympic Games can be halved into two sorts:

    OCOG (Organising Committee For the Olympic Games) Budget:

    The IOC contributes a large amount of money. They subscribe from the dividend they receive from the top Olympic Partner programme and from the capital they obtain from the firm they trade the broadcast ownership for the Olympic Games.

    A hefty sum of capital is mandated to coordinate an Olympic Games and IOC subsidies fill in a considerable portion of it. In the Rio 2016 Olympic Games, the capital required to organize the event was 1.5 billion USD.

    The country that owns the Olympic rights should also provide the ticketing of the event. The money for host broadcast operations is also contributed by the IOC. The federal partnership programme is also the basis of income for the provincial organisers. Around 880 million USD will be invested for the 2022 Olympic Winter Games.

    NON-OCOG (Organising Committee For the Olympic Games) Budget:

    The regional councils hold control of this budget and it has several divisions in it.

    Systems budget: The operative services for general administrations like transport, customs, immigration, safety and medical assistance for athletics succeed under this budget.

    Capital Investment budget: The private or civil administrations undertake the financing of particular ventures. The edifice of tournament outlets succeeds under this allowance.

    Conclusion

    Hosting the Olympics is not a susceptible task and it arrives with a hefty price of ventures. Many countries imply no attention in hosting the occasion reckoning about the obstacles in undertakings and insurance.

    Usually, the nations who have investors and are inclined in boosting the technology of the nation put up with this as a recourse.

    With a substantial portion of capital, the nation hosting the Olympics obtains undisputed recognition. Around 880 million USD will be subsidized for the 2022 Olympic Winter Games.

    FAQ

    What was the cost of Tokyo Olympics?

    The cost of the Tokyo Olympics was $15.4 billion.

    Do Olympians get paid?

    Yes, In the Tokyo Olympics the athletes were rewarded $20,000 for gold, $15,000 for silver and $10,000 for bronze.

    Which was the most expensive Olympic ever held?

    Sochi Winter Olympics was the most expensive Olympics which a total cost was $51 billion.

  • Aladdin Software Managing $21 Trillion: The Investment Management Giant

    A business is not just about buying and selling a product or service. It is much more than that. For a business to run properly, everything needs to be on point, for that management is necessary.

    In fact, it wouldn’t be wrong to say that management is necessary for every step of a business. The most important factor in this is to manage the financial assets, risk, and other investments of the business.

    From financial planning to look after bonds and equity of investors, it includes everything. Now, we all know business and risk go hand in hand. Therefore, in a business apart from investment management, risk management is also required.

    Risk management is all about recognizing and controlling those venturing threats that can affect the organization’s financial assets. It is mostly done to protect the company from harm and its future. Risk management makes the work environment safe.

    Now, thanks to technological advances, this also can be done by software. This article talks about the biggest investment and risk management software, BlackRock Aladdin.

    “Wealth is only a benefit of the game of money. If you win, the money will be there.”

    -Paul Getty

    About Aladdin Software
    How does Blackrock Aladdin Work?
    Interesting Features of Aladdin
    Top Companies that use Aladdin
    FAQ

    What is Blackrock Aladdin?

    No, as the name suggests, it is not related to Aladdin and the magic lamp from the Arabian Nights. Although the work it does is not less than that of a genie fulfilling wishes. Aladdin (Asset, Liability, Debt, and Derivative Investment Network) is a system whose work is to keep an eye on the markets and stop anything going wrong.

    It connects people and technology together to manage funds.  It is part of BlackRock, Inc an American global, Investment Management Company. This system was found after BlackRock’s was founded in the year 1988. In the year 2000, Aladdin was introduced as a system for investment management user

    This software works with thousands of computers for 34 hours and is continuously striving to manage the financial ecosystem of the world.

    Interestingly, Aladdin was first created to handle BlackRock’s business. Now, apart from BlackRock, it is used by different clients of BlackRock’s to manage their investments.

    Since the financial crisis in 2008, the demand for Aladdin has surged all over the world and it has now become one of the most important parts of the investment management industry in the world.

    How does Blackrock Aladdin Work?

    The system is involved in portfolio management to risk management; it’s all about providing a smooth investment process to the client with the help of a number of computers and people. With the tools required for portfolio management like trading, operation, and accounting, it gives out proper risk analytics.

    Aladdin gives out powers through its tools to the user so that they can communicate efficiently and if any problem arises, they can solve it quickly during the investment process.

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    Interesting Features of Aladdin

    Some of the features that make Aladdin different and unique are:

    • Over 55,000 investment workers are connected with Aladdin and depended on it.
    • It has more than 240 clients all over the world.
    • Thanks to the existence of this brilliant software, it eliminates the need for paperwork.
    • Eradicate excessive repair costs of machines.
    • This software provides the facility of trading bonds without the need of a middleman.
    • The software manages the wealth of some of the biggest companies.
    • The software contains a centralized database.
    • Aladdin contains a climate risk reporting app, that notifies if there is any risk that can be caused by climate change to their portfolio.

    Top Companies that use Aladdin

    Genworth Financial

    This is an insurance company founded in the year, 2004 by Dave Reedy. Aladdin manages Genworth Financial, along with eFront, another software that manages the alternative investment, it keeps an eye on risk management and asset allocation of the company.

    Fannie Mae

    Fannie Mae is an enterprise that deals with mortgage financing. It was founded by Franklin D. Roosevelt in 1938; its main motive is to create a sustainable housing finance system. In 2015, Fannie Mae associated itself with Aladdin.

    Macquarie

    The global financial service deals with asset management, wealth management; principal investment were founded in 1969 by Stan Owens. Macquarie has taken up Aladdin in the team for their asset management.

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    Conclusion

    The capability of the software Aladdin by BlackRock can be seen since the 2008 financial crisis. It has become the world’s most powerful risk management system and some of the largest enterprises are dependent on it. Needless to say by managing $21 trillion and counting, it is ruling the investment management industry of the world.

    FAQ

    Is Aladdin a Part of BlackRock?

    Yes, Aladdin is an electronic system for investment management by BlackRock.

    Who is the CEO of BlackRock?

    Laurence Douglas Fink is the CEO of BlackRock.

    Which companies use BlackRock Aladdin?

    Genworth Financial, Fannie Mae, and Macquarie are some of the top companies that use BlackRock Aladdin.

  • Founder of Liquii Beverages on Challenges in Scaling F&B Companies in India

    The article is contributed by Mr. Shubham Khanna, Founder & CEO, Liquii Beverages Pvt. Ltd.

    With a growing population, there is also a rise in concern over healthy foods and drinks. People are now more aware of the food and drinks they are consuming. This has led to Food and Beverages companies working on their toes to deliver the best product they can. Consumers these days are well aware of the products they are consuming, they are in regular touch with the health factors of the food delivered to their doorstep. Food and Beverage companies not only have to look out for their competitors but face other challenges too.  Some of the challenges that these companies have to go through are listed below.

    Innovation

    To retain their position in the market or to sustain the cut-throat competition, it is likely that companies have to go through innovative ideas. The market is full of Food and Beverage Companies offering products that are tempting enough for consumers to go for. In this rush to get creative, food and beverage companies have to come up with something new. With so many different products available for purchase across a multitude of channels, product innovation and differentiation is getting increasingly important. For one, plant-based and fresh Products disruption will continue to increase. Demand for Fresh substitutes has rocketed recently, and consumers are consuming more plant-based and Fresh alternatives. The key to longevity is the need to accelerate new product development and adapt & improve products in correlation to thorough R&D.

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    Striking the right concept

    For any company to achieve success and growth, it has to check all the boxes of striking the right concept. Most of the Food & Beverage companies fail because of the lack of awareness about the concept. Nearly 60% of the startups fail around the first year of their inception. But if you have done the right research about the market, and focus on disruptive ways to integrate the right balance between functionality and long-term brand vision, you will succeed. Products are bought and not sold, and consumers have now become aware of the social and lifestyle impact of the brands. It’s important to build a strong community of loyal customers who not only like the product but also align their values to the brand’s vision.

    Customer Centricity

    With the internet playing a dominant role in everyone’s life, consumers are well aware of what they are being offered on their plates. Consumers are becoming savvier, more informed, and are demanding change. To that end, customer-centricity has to be at the heart of every F&B company. The companies should not only keep the safety of consumers in mind but also their mindset regarding the environment. To better meet the demands of the target market, it is imperative to tap into customer insights like behavioral segmentation and product preferences and centering the innovation efforts around them. That doesn’t just mean the product itself, but also the end-to-end customer experience from shopping to eating, to delivery to the doorstep

    Waste Reduction and Sustainability

    Reducing food waste is imperative not just to cut down on unnecessary costs, but also to reduce planetary impact and optimize organization sustainability. In addition to that, the consumer is also becoming more aware and concerned about the planet, so they are opting for sustainable options.  Sustainability issues must be brought to the forefront. In particular, addressing the food system to eliminate food waste and build a better food system for everyone. One of the key pillars of sustainability is to fight food waste by finding a home to “bad-looking but not bad-quality ” fruits that otherwise get discarded. Through years of research, it’s been proved that it’s not the food that’s bad but it’s the food system.

    Also Read: How to Create a Zero Waste Business Strategy (4 Steps)

    The current impact and aftermath of Covid-19

    Pandemic has turned the world upside down. No one has ever expected the scale of impact the pandemic would cause. The Food and Beverage sector has faced the worst burn of the coronavirus. Not only has consumer demand decreased but it has also hit the manufacturing and supply chain. Ingredient sourcing with farming and agricultural activities have also seen a great loss due to pandemic. Consumers still refrain from ordering food from outside. While the onset of vaccination helps reduce some of these challenges, the aftermath of the pandemic is likely to remain.

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  • Startup Learnings & Mistakes to avoid for 2nd Gen Entrepreneurs – from an Expert!

    This article is contributed by Dr. Ambrish Kumar, Founder of Zipaworld and Group CEO, AAA 2 Innovate Private Ltd.

    This is the age of innovations and new ideas are getting implemented at a very fast pace. The past decade has seen the emergence of Startups where we have seen a lot of innovators, first movers, and hustlers coming up with problem-solving ideas and causing disruption to a set pattern of the trend followed for years.

    In other words, we have seen a new league of entrepreneurs who have a disruptive idea, USPs, strategies, a problem-solving business plan, but may or may not have the capital or funding, or may not belong to the traditional league of businessmen. We have also seen many investors and financers encouraging these entrepreneurs by funding their ideas and becoming a part of the disruption to the stereotype. We have seen the exponential growth of many startups to become Unicorns crossing the $1bn mark in a very short time.

    India has seen the growth of Unicorns and with the current pace of new ideas being coined by startups and the response received from the markets and the masses, there could be more than 100 Unicorn companies in India by 2023. All thanks to technology that the pain areas are being efficiently addressed by digitization and automation. When we speak about the emergence of startups, we have to see the flip side of the coin as well.

    Also Read: Top 7 Ways to Create a Buzz around your Startup

    The pandemic that started in 2020 was unexpected and unprecedented and caused massive disruption to whatever was normal before that, and the new normal came into existence. Businesses and entrepreneurs globally have faced severe turmoil in their routine operations and have had to make acute decisions to get hold of the situation. All grades of companies, be it small or large, were forced to take desperate measures of survival and sustenance. Cash flows were hit badly, debts increased, receivables were stuck or delayed, investments went wrong, and so on.

    As per a survey conducted by FICCI during mid-2020 with 250 start-ups and incubators considered, almost 70% of startups were adversely hit by the pandemic, approx. 12% had to shut down operations, and 68% had to cut down on their expenses. The adverse situation compelled investors to hold investments that were signed pre-pandemic.

    This ought to be the learning curve for the entrepreneurs to approach odd circumstances like the post-COVID times differently and more effectively. The entrepreneurs are now getting cautious about what to sell and what not to, that is, to re-invent their business strategies. Hence, the entrepreneurs need to filter out their products and services precisely focussed on the need of the consumers.

    The Pandemic has impacted the funding, investments, cash-flows, timelines, schedules, and also untimely non-availability of raw materials, labor, logistics delays, the lower purchasing power of consumers, etc. In these times, focussing on products that suffices the necessity, would sell. The entrepreneurs need to be more generous in setting realistic timelines and keep a balanced check on cash flows. Fund-raising and investments have taken a back-seat due to the prevailing circumstances and may take another couple of years to come back to where it was pre-pandemic. Mr. Alex Lazarow rightly puts it in the Harvard Business Review article – “Startups, It’s Time to Think Like Camels — Not Unicorns” which means entrepreneurs need to disguise themselves as camels which can survive in worst scenarios, for the next few years, then aiming to be ‘Unicorns’.  

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    The change in mindset and trends may see a deceleration in the rapid scaling up the process by the means of fundraising. The startup trend of burning cash to capture the market needs to have a new dimension. Entrepreneurs and survivors might take a balanced, steadier, and smarter growth path. The endurance of the concept and problem-solving ability of a start-up would play an important role in retaining customers. Marketing, virtual omnipresence, and brand identity will play a significant role in the present times. The more constructive and cost-effective e-commerce solutions, digital marketing, web services will be resorted to extensively, rather than the traditional marketing drives. Further futuristic aspects of technology Machine learning, Artificial Intelligence, IOT, will help anticipate and keep a check on adverse scenarios and will also help in comprehending demand prediction and anticipation based on data analysis, and to cater to customers’ needs more precisely, thereby mitigating risks and avoiding wastage of resources.

  • How can Small Textile Brands Recover from the Pandemic? | Survival Tips for Textile Industry

    In the course of the ongoing pandemic, many businesses faced a downfall in their progress of making a profit. Likewise, small textile brands encountered a behindhand in making a life out of the pandemic market.

    While the small textile brands are highly populated by poor people, in order to make a small earning by stitching, embroidering and threading clothes all day. After the government of India proclaimed lockdown, many small scale industry workers returned to their hometowns and migrated, waiting to get circumstances back to normal.

    Things were normal when the Government set a time duration to conduct their respective business i.e. 10 am to 6 pm. Whereby, small textile brands worked for 24 hours to meet the targeted profit of the day or month or year. But, the coronavirus unfettered the nation with high cases from April to July 2021, imposing tight lockdown again.

    According to the reports, it is stated that 70% of workers didn’t return to work and saw a 60% drop in the sales of textile. On the other hand, the small textile brands faced an epic hurdle in purchasing raw materials from the suppliers as it is unsafe in trading, due to escalating death rates in the country.

    Besides, the small textiles have to accept those who are willing to do any task, as the industry is facing a lack of manpower. As is the case, there might be unskilled workers joining the small textiles brands which ultimately leads to the production of low-quality textiles; and people won’t buy poor quality products.  Besides, the small textile brands are bungling the concept of technology.

    Here, we’re gonna discuss the chance of small textile brands to expand their market from the effect of the ongoing pandemic.

    Impact of the Covid-19 Pandemic on the Textile Brands
    Things that hampered the production of small Textile units
    How can Textile brands survive the Pandemic
    FAQ

    Impact of the Covid-19 Pandemic on the Textile Brands

    The whole Covid-19 pandemic situation made the economic status of the entire world go upside down. As per the study, the 2020’s economy has gone down by –3%.

    The world faced a major fallback economically correlated to the 2008–2009 financial crises and the surveys say that it may take at least a year to attain the normal state and solidify their thrift. India is one of the major countries that encountered a high difference, definitely not in a good way.

    Considering the available resources and fast-growing markets many foreign institutions were ready to invest in India, and that may have cultivated a huge disparity in the availability of employment.

    The textile industry has a huge part in employment creation in India. The closing of the mart ended in creating an unpleasant reaction in the growth of the textile industry; few minor cloth crews curbed their exposition.

    Due to the low profit, many units limited their human resources and there were pay cuts. Out of all states, the worst pretentious states in cloth manufacturing during the epidemic are Punjab, Gujarat, Maharashtra and Tamil Nadu.

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    Things that hampered the production of small Textile units

    Fewer Transportation Facilities

    Transportation is the primary element that makes a huge effect on production. The businessmen need transport to supply the product, to get the raw materials and to deliver the goods.

    Due to fewer transport facilities during the lockdown, the transportation of goods and buying of fresh products for sales were halted. The people were not even able to deliver the finished products.

    No Labours

    As transport was not available frequently, the migrant workers shifted back to their hometowns. Their wages were cut short and the companies curtailed human resources.

    Bihar, Jharkhand, Uttar Pradesh and Orissa are the states that produce large amounts of human resources, considering the less income, transport problem and their health risks, they moved to their places. So the limited availability of the labourers resulted in the production.

    Lack of Raw Material

    During the pandemic, the demand for the raw crops reduced and due to that agriculture underwent. As the overall demand for the crops reduced, the production of cotton and silk were also reduced, resulting in less or no availability of raw materials. And as the chemical units were focusing on other significant courses, the dealings of synthetic lessened and the synthetic textiles were affected.

    No Capital

    Many small textile units were shut down as the production and earnings lowered.

    Market size of the Textile Industry in India
    Market size of the Textile Industry in India

    How can Textile brands survive the Pandemic

    Well, in some way or the other, many businesses are recovering the loss from the effect of the pandemic by engaging efficiently in producing and serving the goods to the customers. And in the case of small textile brands also hyped their production in many ways during this ongoing pandemic.

    Unlike other industries, small textile companies lack digital marketing and ergo became a great drawback in achieving their goals.

    Here are some ways that the small textiles industries could employ to stay resilient in the market from the effect of the ongoing pandemic.

    Make sure workers are Safe and Vaccinated

    During the first lockdown in the nation, many small scale workers migrated as per the government rules. So, the first thing that small textile brands should take care of their workers is to prevent the fatal virus across the nation, whereby the necessity of healthcare nearby, nutritious food and safe & hygienic shelter should be rendered to the workers and make sure their vaccinated.

    Stay Informed with the Latest Government Guidelines

    Secondly, small textile brands should stay informed; the Government should inform the measures and up-to-date information regarding the pandemic to the small textile industries. As is the case, they will take necessary protocols assigned by the Government in order to prevent the spread of coronavirus.

    Make sure your financially stable to operate your business

    The small textile brands should be financially stable in meeting requirements such as paying wages to the workers, purchasing raw materials, light & power, fuel and transportation and so on.

    Furthermore, industries should be producing goods & services at a minimum cost of production and maximum optimization of the product.

    Stay in touch with your key stakeholders

    Small textiles brands should be in touch with their key stakeholders in order to sustain an affiliate relationship with them.

    Provide Recess time for Workers

    Brands should provide recess time for workers, who are working 24/7, as this would aid to reduce the cost of excess labour & augment efficiently and effectively in the production of goods and services.

    Make necessary changes according to the environment

    Lastly, the small textile brands should accomplish the set of goals without any objections in doing so and respond to any changes happening in the working environment.

    If the above points are followed by the small textile brands, then the chances of getting opportunities in the market are high during the pandemic.

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    Conclusion

    The countries confronted a huge economic deterioration. No country was nimble to evade the losses that the pandemic resulted in. The economic rate of the country is poorly approximated to the financial crisis the world faced in 2008–2009. But it doesn’t mean it’s not possible to improve it.

    Fetching back to regular and recouping the stability like before the pandemic may take a few months or also years. And the small textiles that faced a great loss have to find a way to improve their state. They have to create new strategies to sell their products in a modern way and yet not skip and obey the government protocols.

    FAQ

    What is textile business?

    The Textile industry consists of the design, production and distribution or marketing of yarn, Fabrics or readymade clothing.

    Which city is famous for textile in India?

    Bhilwara is India’s largest manufacturer of fabrics and is also known as Textile City of India.

    Is textile industry profitable?

    Yes, textile industry is considered as a profitable industry for new and aspiring entrepreneurs.

  • Why did the Crypto Market Crash in 2021?

    We are at a time, where digital currency holds the utmost importance, in our life. Payment card, UPI, and now cryptocurrency, it seems like complete domination is inevitable.

    The digital currency has literally grasped the mind of people and the big stacks of notes may become obsolete in the future. In recent years, Cryptocurrency has somehow started gaining momentum, especially amongst the younger generation. So much is the craze that almost everyone is willing to invest some funds in them.

    Cryptocurrency at this point has been able to gather attention on itself from everyone. Some are already investing, some are speculating, and some are just watching it from the side. Whatever it is, the world’s eyes are on this, and it cannot be ignored anymore.

    The rising star suddenly got a bump in the road, this year in the month of May, Cryptos suddenly saw a great deal of decline, and the market got crashed. Again on the mid of September, the market crashed and somehow it has created tension.

    “As the value goes up, heads start to swivel and skeptics begin to soften. Starting a new currency is easy, anyone can do it. The trick is getting people to accept it because it is their use that gives the ‘money’ value.”

    – Adam B. Levine

    In this article, we will find out about the reasons for the crashing of the Crypto market. Before that, let’s find out about what Cryptocurrency is.

    What Is Cryptocurrency?
    The Reasons For Crypto Market Crash
    FAQ

    What Is Cryptocurrency?

    A cryptocurrency is a form of digital currency that is decentralized in nature, with the help of Blockchain technology that means it is not controlled by the government or any other mediator.

    It is the direct exchange of this digital currency between two people. People use this to buy goods and services but mostly they are used for investment. Most of the countries still haven’t declared it as legal tender.

    There are some common forms of cryptocurrency that are used in the world and they are:

    Cryptocurrency is readily redefining the future of finance sector in India
    Cryptocurrency or digital currency has a huge impact on Finance industry and it is helping it grow over and above. It is attracting attention all over the world
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    The Reasons For Crypto Market Crash

    As mentioned above Crypto market crash in the month of May and again in September of this year, the fluctuating nature of cryptocurrency is creating uncertainty amongst investors and others. There are a few reasons that can be identified to be the cause of the crashing of the cryptocurrency market.

    Elon Musk Denies Cryptocurrency

    In the month of March 2021, Elon Musk the CEO of Tesla, the most valuable car company announced that they are willing to accept the most popular cryptocurrency, that is Bitcoin as a payment method in the USA. With that, it was also said that they will try to introduce this payment method in other countries as well.

    The problem arises when Elon Musk declared in the month of May, that they will not allow any cryptocurrency as a method of payment, the main reason for this, they portrayed was the environmental issues. As bitcoin mining required a huge amount of electricity, it is not eco-friendly enough, this statement leading to 30% crashing of major cryptocurrencies like Bitcoin, Ethereum, and others.

    Elon Musk tweet about Tesla & Bitcoin
    Elon Musk tweet about Tesla & Bitcoin

    By the month of July, the market experienced a 50% dip, and that was quite a lot. Bitcoin faced a 35% plunge at that time.

    Bitcoin Price after Elon Musk tweet
    Bitcoin Price after Elon Musk tweet

    We can say that, although cryptos future seems great, but it not being environmentally friendly is causing it a great deal of concern. The news causes apprehension and over 8 lakh traders decimate their investment.

    China’s Ban On Cryptocurrency

    The reason for the crypto market crash in May was not only Musk’s Tesla but also China’s ban on financial and payment institutions of using cryptocurrency. All the popular ones like Ethereum, Cardano, and Dogecoin showed a dip of 15% to 20% after the major blow.

    China asked the institutions to refrain from providing services to those who are trying to get them by using cryptos and ordered banks to stop providing support to cryptocurrencies. China even instructs bitcoin has to close down its mining operation in Sichuan and like that it got shut down there.

    Even though this prevention did some damage to this digital currency market, in August the market saw a surge, and as per the report, the value rise above $2 trillion.

    The good weather didn’t stay good for a long time; China central bank permanently announced that any transaction done with cryptocurrencies is illegal and banned any type of virtual currencies use.

    As per them, it placed people’s assets in danger. China banned the trading of cryptocurrencies in 2019 but foreign exchange through online continued happening.

    This announcement of China in the month of September of 2021, put the last nail on the coffin of the crypto market in the World’s most populous country. Following this announcement bitcoin showed a 9% drop again.

    China was one of the top names in the crypto industry but this sudden move has plummeted the virtual currency business in the country, with that it has also destabilized the entire crypto market of the world.

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    Conclusion

    Although this fluctuating nature of cryptocurrency is turning people’s heads more towards into them but with industry giants like Tesla giving up and refraining from considering crypto coins as a method of payment is straining the virtual currencies presence in the market.

    Not to forget China’s ban on crypto is questioning the digital currencies’ entire authenticity because of that people are now being skeptical over-investing in them.

    FAQ

    What is cryptocurrency?

    Cryptocurrency is a digital currency that is decentralized in nature.

    Is Cryptocurrency Banned In China?

    China’s Central Bank termed all virtual currency transactions illegal, which is done by cryptocurrency from 24th September 2021.

    What is the reason for Cryptocurrency crash?

    Cryptocurrency crashed in may because Elon Musk denied purchase of tesla using bitcoins and later China banned all the cryptocurrency transactions.

  • Scaling Indian Organic & Ayurvedic brands – Challenges & Solution

    This article has been contributed by Ms. Pooja Nagdev, Aromatherapist, Cosmetologist and Founder of INATUR.

    Ayurveda, India’s oldest medicinal system, has survived multiple waves of evolution over the previous 5000 years. Ayurveda is poised to become one of the most innovative healthcare growth markets in the world. Despite tremendous expansion in the nascent Ayurveda business, the industry still faces hurdles that must be overcome.  The issue of formulating natural or organic cosmetics is ensuring stability, safety, and efficacy. On the other hand, there is no harmonization of the regulatory guidelines. Many natural ingredients can be found in cosmetics that have a biological function. In the market for cosmetic goods with a longer shelf life, the usage of plants and herbs is on the rise. As a result, uniform standards for organic cosmetics and the standardization of raw materials are required.

    The following are some of the industry’s biggest challenges:

    1. Standardization

    Validation of Ayurvedic concepts (using modern norms) will make Ayurveda more acceptable to society, allowing it to become a mainstream life science. Ayurveda is facing a dilemma in terms of branding and consistency, as well as a diverse range of big and small merchants at the regional and national levels. Standardization and quality control are required to bring Ayurveda to a global audience.

    2. Lack of awareness

    Ayurveda has a large business potential worldwide, but it has yet to be fully realized. There appears to be a mismatch between the rate of increase of demand for services and the rate of expansion of supply. The availability of high-quality pharmaceuticals and a lack of basic infrastructure are limiting Ayurveda’s growing potential. There is a pressing need to properly advertise Ayurvedic products. Additionally, there is a need to raise knowledge about ayurvedic products and services. As a result, establishing awareness of the differences between Ayurvedic, organic, and natural products and services is a problem for participants.

    Also Read: List of the Top Ayurvedic Brands in India | 2021 Updated

    3. Procurement of raw materials

    The procurement and development of raw materials must be improved to ensure that the quality and core methods of Ayurveda are not compromised. Pesticides, herbicides, and insecticides are frequently seen as easy measures to boost productivity, therefore farming techniques have radically departed from age-old traditional methods.

    4. Use of Technology

    In the present period of medical Ayurvedic practice, technology is playing a big part, and it’s opening a lot of doors for avoiding overtreatment. It has improved the speed with which diagnoses are made and the effectiveness of treatment techniques. The lack of or sluggish adoption of technology may be a difficulty for Ayurveda, but it may also be a strength: using technology, products and services can be made more widely available and accessible.

    Organic Cosmetics are often mixed with natural.  All Organic cosmetics and wellness products are Natural, but all Natural products are not Organic. Aloe Vera gel, cucumber extract, honey, lemon oil, and other natural ingredients that manufactured in an organic way, that is no chemical treatment is done to the natural plant in the process of extraction of the ingredient. are utilized in organic cosmetics. Organic cosmetics primarily consist of organic skincare products, hair care, lip care, eye care, organic soaps, perfumes, and oils.

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    Organic cosmetic products require strict quality control to ensure their efficacy and safety. Quality control refers to the procedures that are used to ensure that a manufactured product’s quality and validity are maintained. Microscopic examination, assessment of ash, heavy metals, foreign materials, and micro-biological contamination are all included in the evaluation of organic cosmetics.

    Organic cosmetics are superior to synthetic cosmetics in both cosmetic and therapeutic applications. Organic cosmetics are those that contain a variety of organic ingredients and extracts. Organic cosmetics are unique in that they are composed entirely of herbs and plants. Natural and Ayurvedic cosmetics are other terms sometimes used for Organic cosmetics.

    Natural beauty care products have been around since men first started using cosmetics. Creams, face packs, and scrubs, hair oils, hair colours, shampoos, hair conditioners, lipsticks, blush on, rouge, eyeliners, mascaras, foundations, eyeshadow, fragrances, scents, cleansers, and so on are some common beauty products. By using specific definition approaches, the detailing of all these restorative things integrates an expansion of distinct regular additional substances such as oils, waxes, natural hues, common smells, and plant parts such as leaves, blossoms, and so on.

    Consumers are increasingly looking for products that have a lower environmental impact. Cosmetics are now with more “environmentally friendly ingredients and packaging.” There are tests conducted to check the effectiveness and toxicology of raw material and packaging material tough the criteria and requirements to be met for items to be classified as natural or organic should be issued by regulatory authorities. These guidelines are intended to define the packaging processes that are permitted, as well as to suggest sustainable extraction and processing methods.