StartupTalky

Tag: 🔍Insights

  • Mentoring for Mentors: A team that learns together grows together

    This article is contributed by Mr. Rajesh Kumar Subramanian, Founder, Ghoshak.

    When you are on an entrepreneurial journey, you have a blank canvas in front of you to paint it. You can choose the colors you want, draw anything you want and paint the picture of your dreams. For the right outcome, one needs the right set of paintbrushes, proper canvas, board, and a suitable environment. The proper support and mentorship can help an entrepreneur to focus on the primary goal.

    What is Mentorship?

    Today a mentor is more than a teacher or a guide. A mentor is a supporter, a friend, a helping hand, and a guide. The general conception around mentors is that entrepreneurs seek someone more learned in the same field or industry, have more experience, or support them financially. While someone with this definition is a mentor, anyone can be a mentor if we are open to learning and widening our horizons.

    When you are on an entrepreneurial journey, you have to be more open to new ideas and learnings. Of course, there will be obstacles in the path, but one needs to get up, learn and get going.

    Jack of All Trades but Master of One

    Being an engineer by nature, my core competency lies in all things technology. I (Rajesh Kumar Subramanian) have built software and led technology teams, but when it comes to other crucial aspects of business like Sales, Marketing, Finance, and HR, I do need the support and expertise of colleagues and team members. My co-founder is my biggest mentor, support, and friend in times of crucial business decisions and vice-versa. It’s a team that makes or breaks the startup or any company. They are your strength and can give you expertise and niche advice and take the workload off.

    Here’s how your mentors (team members) can lead to the successful growth of the business:

    More Innovation & Creativity

    When people from different fields and backgrounds come together, they bring their own set of creativity that aligns with the company’s final goal. They shape the company in such a way that is fun and is abundant in ideas. The path to grow and move forward becomes more transparent and easy with the combined strength.

    The Ultimate Guide To Find The Right Business Mentor | Startup Mentor
    n this current century, research has shown that the most powerful weapon in making a successful business is having a good mentor for your business. Finding the right mentor can be difficult.
    StartupTalkyPiyush Mishra

    Increased Competitiveness

    The startup world is quite competitive. Sometimes companies with enough cash flow and resources lack in the market due to a stronger team. However, having the best minds from diverse fields can make the business stand out and give it a competitive edge.

    Attract Investors & Funding

    Whenever an investor wants to invest in a company, the first thing they look for is how driven the team is and their aspirations. This is how they judge how well the team will be able to support or mentor the founder(s). When the team consists of strong and qualified people, even the investors are assured that their investment would be put to good use and safe hands.

    Aid in Business Diversification

    When entrepreneurs start a journey, they always have a plan to diversify the same into different businesses. But, to do the same, they again need the support and mentorship of a good team and investors. From marketing, sales, supply chain, production, finance to quality control, one needs strong people to help you achieve your vision and goal.

    These days many young entrepreneurs start their journey just after finishing college or even before that. But, they have the drive and zeal to create a difference and build something unique. Whether young or old, we all need the right mentors by our side to achieve our goals and see our dreams unfold. They can be friends, family members, investors, seniors from the industry, or even acquaintances. Therefore, always be open to learning new things and have the right people by your side on your journey.

    Ghoshak’s Founder on Game of Hiring for Bootstrapped Startup
    Rajesh Subramanian is the Founder of Ghoshak. He talks about the Hiring culture of a bootstrapped startup and gives advice on hiring the right team
    StartupTalkyJeenal Jain

  • How Does the British Royal Family Make Money?

    The moment we hear the word Royal, the first thing that comes to our minds is huge Fortune. Our minds automatically create a picture of palaces, King and Queen in precious jewellery, and tons of money.

    When we hear the term ‘Royal Family’, the first one to come to our mind is the Royal family of the UK. They are no doubt the most popular royalties in the world.

    The British Royals are wealthy. Looking at the family’s palace, properties, staff members, and lifestyle, we cannot help but wonder what is the source of their money?

    Members of the Royal Family
    The Monarch’s Relationship with the Parliament
    What are the Sources of Income for the Royal Family?
    Prince Harry and Meghan- No Longer Entitled to Royal Wealth
    FAQs

    Members of the Royal Family

    The British Royal Family
    The British Royal Family

    At present, Queen Elizabeth II is the head of the state of the United Kingdom. The queen’s father King George VI died in 1952 and she has been a monarch since then.

    The family consists of the Queen, her 4 children, grandchildren, and great-grandchildren. Queen’s late husband Prince Philip, Duke of Edinburgh was also a member of the Royal family.

    The other important family members include:

    • Prince Charles, Queen Elizabeth’s eldest son. After the Queen, he will get the throne as the King.
    • Prince William, the firstborn of Prince Charles. He will be the next successor in line after Prince Charles.
    • Prince Harry, the second son of Diana and Charles. Last year, however, Harry and his wife Meghan Markle, stepped down as the Senior Royals. Even though they live independently, Harry being born in royalty is still a Prince.

    The Monarch’s Relationship with the Parliament

    In the United Kingdom’s Parliament, there is the House of Commons, House of Lords, and the Monarch (the Queen, at present).

    The Queen enjoys the power of Royal Assent in the Parliament. To pass a bill in the parliament, it is approved by both the House of Commons and the House of Lords. After that, the bill goes to the Queen for final approval.

    This approval is the Royal Assent which converts a bill into Parliament’s Act. She invites the leader of the winning party to form a government and become the Prime Minister. She also plays an important role in the case of the dissolution of the Parliament.

    Today, but the constitutional role of the monarchy in the parliament has been reduced to a certain extent. It is now more of a ceremonial role.

    What are the Sources of Income for the Royal Family?

    The following are the sources of how the British Royal Family makes money:

    The Sovereign Grant:

    The first and the most significant source of income for the Crown in the UK is the Sovereign Grant. The monarch has official duties and for that, the government pays this grant.

    The Crown Estate in the United Kingdom belongs to the throne. It means it belongs to the monarch during their time on the throne. A monarch has no power to sell the estate. It is not their private property. It is neither owned by the monarch nor the government.

    The Crown Estate is super valuable that helps to generate revenue. A percentage of profits of this revenue makes for the Sovereign Grant. It is like an annual income for the monarchy.

    This grant covers the expenses of the monarch’s official duties. This includes security expenditure, press meetings, basic maintenance, and travel.

    The Treasure of the Royal Collection

    Queen's Crown
    Queen’s Crown

    It is one of the most significant and enormous art collections in the whole world. It consists of more than a million objects. Various vintage objects are ranging from fine to decorative art. This collection is living proof of the personal taste of various kings and queens over the years.

    Buckingham Palace Exhibition
    Buckingham Palace Exhibition

    The Royal Collection gets maintained under the queen as a Sovereign. This collection helps in the generation of a lot of money. The items under the collection are given on loan to various museums. For this, there are annual visitors. All this makes a source of money for the monarch.

    However, this trust income is not profitable for the royals. A major amount of this income goes into the maintenance of the queen’s public residences. Also, the artwork and jewels of the crown require maintenance expenses.

    The Duchies

    The Duchies are the properties and financial investments of the royals. It refers to their private estate. There are two royal duchies in England.

    The Duchy of Lancaster, owned by Queen Elizabeth II. The second, the Duchy of Cornwall functions under the Duke of Cornwall. Prince Charles heads and enjoys the privilege of this private estate.

    Duchy of Cornwall
    Duchy of Cornwall 

    These private estates are separate from the crown properties. The revenue generated by these is for the royals and their family’s private and public activities.

    Inheritance

    Inheritance and blood are what makes for a royal family. The members of the royal family also generate income from their inherited properties.

    For example- The queen has her income sources under the Duchy of Lancaster. It was inherited by the queen from her father King George VI.

    In the same way, Prince Charles gets his income from the Duchy of Cornwall. Prince William and Harry are also entitled to the revenue of this Duchy.

    Prince Harry and William have also inherited money from their late mother, Princess Diana.

    Princess Diana
    Princess Diana

    Apart from the crown properties, the royal family has their investments. Even the queen has her investments which are not revealed in public.

    Prince Harry and Meghan- No Longer Entitled to Royal Wealth

    Harry and Meghan Markle in America
    Harry and Meghan Markle in America

    In January 2020, Harry and Meghan decided to step down as the Senior Royals. They decided to shift to North America and be financially independent.

    In an interview with Oprah Winfrey, Harry revealed when he left, he got cut off from any financial help from the royals. He shared that he was grateful for the money inherited from his mother, Diana. This money proved to be helpful in his journey to new life.

    Harry and Meghan are using their wealth to work further. Thus, maintaining their decision of being independent.

    Conclusion

    The royal family holds great importance among the people of the UK. The power is shared between the government and the crown. The queen has official duties and ceremonial powers that make her role important.

    The royals of the UK get money from both public as well private sources. Thus, the royal family has various sources of money to enjoy their status as royalty.

    FAQs

    How much do British taxpayers pay to the Royal Family?

    As per the latest Sovereign Grant the taxpayers are paying nearly $96.28 million.

    How much is Buckingham Palace worth?

    Buckingham Palace is worth an estimated $4.9 billion.

    How many properties do the royal family own?

    The British Royal Family owns 20 properties in the UK.

  • The Art of delegation and Pitching – Creating Fundworthy Pitchdecks

    This article is contributed by the founder & CEO of PitchKrafts, Mr. Aayush Sachdeva. He is is a driven professional who has supported numerous investment bankers, consultants, founders, and company owners in generating important fundraising collateral.

    The thought of presenting an idea to a potential investor could take on anyone’s nerves. Even if an entrepreneur has creativity, business sense, and a great business idea in hand, a lot can go wrong if not organized properly. Pitching an idea to someone is not easy for everyone, but it can add to your strength if you are an entrepreneur. In the digital era, there are endless opportunities to present your idea to investors to realize your ideas. The goal of pitching an idea to a potential investor is to convince them to put their money, time, or effort into it. This is where the art of delegation and pitching needs to go hand in hand.

    A proper presentation to a potential investor is an art and everyone is not aware of this fact. It is challenging for Startups at an early stage to reach out to a potential investor and get funding. The process of perfecting a pitch deck, identifying the key investors consumes a lot of time. A startup wins half of the battle if the pitch deck they create for a potential investor hits the right keynote. A pitch deck not only gets entrepreneurs the much-needed capital but also the support, strategy, network, and more. It is the most important aesthetic in the fund-raising ecosystem.

    With an inadequate pitching style and documentations, on many occasions, startup founders often fail in front of potential investors. A well-prepared Pitch deck helps to talk about the business idea, market, and customer. It also tells a story, challenges, and tension in the market. There are plenty of companies, PitchKrafts, Canva, Adobe that help startups to prepare the pitch decks to present their ideas in front of investors in an effective way. They provide all the essential data including market forecasts, financial projections, etc to help investors to understand better your ideas.

    Pitch deck proves an essential document to put an impression in front of the VCs. So, it becomes important to identify what goes into the pitch deck. It should not sound verbose. It should emphasize the startups’ market, consumer, and revenue numbers, among others.

    A pitch deck helps a potential investor to understand and learn more about the company. It should help to learn four key elements of the business opportunity, which forms the outline of the pitch deck:

    1. Product: A product overview should answer the critical questions. Such as ‘What are the unmet demands our product is fulfilling?’ and ‘How different is your product or service different from the existing competitors’. A good pitch deck should highlight these two questions for a better understanding of VCs. Further, A graph or simple table easily proves effective in understanding the data.

    2. Market: A pitch deck has to address the market size penetration, strategy and if any, the market traction of the company. You may lose credibility if it becomes evident that the real market addressable by your product is smaller than the total market size you have claimed. It is hard to get customers for most businesses. So, any potential investor would want to understand the plan to make that happen and the cost budgeted to achieve the targeted market penetration. Customer testimonials are one of the most compelling things to have in a pitch deck. Market survey results help to understand the feedback from the target audience.

    7 Mistakes Entrepreneurs should Avoid having a Successful Pitch or Presentation
    Pitching an idea to a potential investor is hard. So, Here are 7 mistakes entrepreneurs should avoid to have a successful pitch or presentation.
    StartupTalkyShubham Kumar

    3. People: Potential investors only invest and trust in the businesses if they have confidence and trust in the management team. To maximize the chances, a pitch deck must explain the key roles of the current employees and why they are fit for their roles. Including pictures and brief bios of the people can make it easy to know about the company’s potential. It’s better to add specific skill sets and achievements and highlight those.

    The CEO is the most critical to the company’s success. By convincing investors about the potential of your CEO, you can land towards successful fundraising.

    4. Money: A pitch deck must cover the information related to fund spending. A summary of financial projections or the amount of capital currently raising or the milestones you plan to achieve with it. It should also mention the projected investors’ return.

    Additionally, presenting the high-end results of the financial model, it must explain the basic business model of the company. How is revenue generated? What are the major cost drivers? Are you acquiring paid or unpaid content? It is advisable to highlight the current raise and use projected proceeds. A pitch deck should include the returns that investors are projected to receive on their investment if the plan is implemented.

    Also Read: All About Pitch Deck | Pitch Presentation Tips For Funding

    There is no perfect pitch deck that fits all the potential investors. With the mushrooming startups, Every investor has their unique way of looking at the opportunity. A pitch deck should address every possible question that anyone might ask. It should be short and crisp and explain your ideas. Let the investors ask to explain the points so you can better explain your ideas.

    It becomes important to consider these points to present your ideas effectively and attract an investor with a fund-worthy pitch deck for your business with all necessary research documents, achievements, and attractive designs. Considering these points would lead you to higher chances of convincing an investor and landing an investment.

    About the Author

    Mr. Aayush Sachdeva, Founder & CEO of PitchKrafts is a driven professional who has supported numerous investment bankers, consultants, founders, and company owners in generating important fundraising collateral. He continues to assist startups and other new business models in receiving numerous rounds of funding and finding additional possible investors with all of the insightful information he has accumulated over the years.

    Aayush’s ability to create and place the initial communication tool between entrepreneurs and investors has always given premature companies a strong opportunity to have a financial forecast and run a profitable firm. He continues to succeed and dominate the pitching routine, owing to his extensive expertise in generating Pitch Decks, Financial Modeling & Forecasting, Business Planning, and Valuations.

    He is a powerful networker; he and his team have established partnerships with HNIs, VCs, and Angel Investors all around the world, instilling PitchKrafts into the ecosystem with a stronghold through creating close relationships and providing quality. He has guided businesses through their financing path by creating collateral that not only impresses but also imprints in the minds of investors, increasing their chances of acquiring the funds they require.

    List of Top 25 Companies Pitch Deck
    The best pitch decks tell the real story about your brand or company. Read to know more about the top companies’ pitch decks.
    StartupTalkyGorish Dua

  • Are AI Content Writing Tools Worth Using For Blogs?

    Artificial Intelligence (AI) is a technology that is fascinating and interesting as well and which is constantly on its way to transforming the world. Gone are the days, where AI was just a part of a sci-fi movie, now has become a reality in which we live.

    People have started adopting Artificial Intelligence into their business, from hospitality to advertising to the healthcare industry, AI is ruling the market. Various businesses and organizations are taking a part in this industry to upgrade them and make their work easier.

    When we talk about artificial intelligence, it basically means a machine that has human-like intelligence, which can perform all those tasks that a human can do, maybe much more than that. Artificial Intelligence has also embarked on a journey where now it can use for writing as well.

    We are living in a world, that AI for writing doesn’t seem like something impossible. In this article, we will find out if AI writing tools are worth using for blogs or not. So let’s get started with the first and foremost thing.

    “AI as a technology is complex, of course, but the capabilities and benefits of AI aren’t hard to understand.”

    -Jensen Huang

    What do you mean By AI For Writing?
    How does AI Writing Tools Works?
    Advantages of AI Writing
    Disadvantages of AI Writing
    AI Writers for Blog Writing
    What are the Best AI Writers?
    FAQ

    What do you mean by AI For Writing?

    AI for writing is nothing but Artificial Intelligence technology that looks into big data sets to write in a natural language and in the desired format. This technology can generate texts and create content for you just like a human, not only that you get to have long content.

    Different algorithms are used to understand what the users want as its content and, it can also deal with SEO. AI is becoming smarter and it might replace professionals in the future.

    AI writing tools are used for:

    • Blogs
    • Essays
    • Articles

    How does AI Writing Tools Works?

    Two technologies that are deep learning and natural language processing are included in this process, deep learning tries to work like a brain of a human and the NLP tries to examine and use the language just like the way a human uses it.

    The technology understands and learns the meaning of the words so that they can structure sentences for the content when the users put all the data that are necessary for it, like the format of the content and its length.

    The steps how an AI writings work are:

    • The technology use algorithms to understand the meaning of the words.
    • After finding the meaning of the words, the data is transformed into texts.

    Advantages of AI Writing

    People are thinking about introducing AI for writing because it has an upper hand that is extremely intriguing and helpful, which are:

    • AI writers can write anything, one just needs to insert some data and the work will be done. It can even convey emotions by writing a poem. In 2011, an AI robot writer was created that wrote a poem.
    • AI writers can write ad campaigns for blogs and the best part is once you get an AI writer, there is no need to pay the other writers for their services and you also don’t need to spend any other expenses on them, as AI writers are going to the job.
    • Errors are almost non-existent as data once put into them; through algorithms, they can create the almost perfect content.
    • AI can create high-level and sophisticated content way faster than human writers.
    • AI can create logical content regarding any subject and has various worldwide ideas as they are versatile in nature.
    • AI copywriters can go beyond generating copy with AI copywriting tools. Nowadays, AI isn’t just used for copywriting, but also for analyzing copy. For example, AI copywriting platform Anyword can predict how each copy variation will perform even before a campaign starts. It also determines what kinds of ads appeal to which type of audience, defines the emotional tone of copy, and so much more.

    Disadvantages of AI Writing

    If something has its advantages, it is bound to have disadvantages as well. There are some limitations that AI writing has and those are:

    • AI writing may start creating content that is low quality which is not good for the image of an organization.
    • Fake contents are easier to provide through AI, once it started spreading, it can lead to a bigger mess, which will also tarnish the image of the organization.
    • One of the greatest fears related to AI is that it will start replacing humans in jobs, which will lead to a risk of unemployment.
    • Sometimes AI may create content that can have a lot of inaccuracies as it is derived from all the publications that can be found on the internet.

    AI Writers for Blog Writing

    Blog writing is a very time-consuming task, AI writers will help in creating high-quality blogs that will also work in attracting the attention of the audience through good content. It collects information from all over the internet and uses them, through that they can also create new ideas.

    AI writers for blogs have many pros and cons, some of the pros are that it creates engaging and relevant content in a very quick time for the audience. On the other hand, the cons included the loss of human touch in a blog and it may also lack originality. Definitely, it saves money and time, plus it is said to be a one-time investment.

    AI creates content that is not biased and is based on facts that can be found on the internet. AI Writer may not fully replace a content writer but will be better for any organization to have a versatile source that will be able to coexist with a human content writer.

    What are the Best AI Writers?

    Some of the best artificial intelligence content generators that can help you in writing blogs and articles are:

    • Rytr
    • Jarvis
    • GrowthBar
    • Article Forge
    • Copysmith
    • Anyword
    • WordAi
    • AI Writer
    • AdZis
    • Kafkai

    Rules That Will Improve Your Writing Instantly
    Writing is a life skill that everyone needs. These simple rules of writing will improve your skill instantly.
    StartupTalkyAlan Joseph

    Conclusion

    With artificial intelligence emerging and increasing its popularity in every sector, blogging will also be a great option where one can use AI writers for creating content. People have witnessed the technological advancement that is happening all over the world and it is just a matter of time when AI will make its presence known in every sector and including blogging as well.

    FAQ

    Can AI writing tools write Blog Posts?

    Yes, AI writing tools can write blog posts.

    Is AI Copywriting Worth it?

    Yes, it is definitely worth it as it is cheaper than hiring an actual copywriter.

    What are the best AI Writers?

    Article Forge, Jarvis, and Rytr are some of the best AI writers.

  • OLX Marketing Strategy | How OLX Captured the C2C e-commerce Market

    Started by Fabrice and Alec. The story of OLX began as these entrepreneurs observed that apps like eBay or Craigslist had no interest in entering the market segment of buying and selling products and services. They took the opportunity and launched OLX as a marketplace. And bang, OLX took a step into the world of developing countries. OLX acquired the 7th position on the Google Play Store in the category of top free shopping with 30 million downloads. A rating of 4.2 stars and is labelled as one of the best local shopping apps in India.

    The top categories in which the app allows its consumers to deal are: MobilesCars and bikesElectronicsReal EstatesFashion

    Features of OLX app
    Marketing Strategy of OLX
    Covid-19 Marketing Strategy of OLX
    FAQ

    Features of OLX app

    • Consumers can buy and sell easily through a smartphone.
    • Discover deals and buy from verified sellers in your neighbourhood.
    • Safely get what you want from home and have conversations with certified sellers, negotiate with them.
    • Manage your chats easily.
    • Get recommendations based on your interest.
    • Manage and edit ads on the go. The app is designed for fun, simple, intuitive, and a great shopping experience. It promises a cutting-edge experience that effortlessly helps you find what you need and sell something new in just seconds.

    Apart from having apps and a website. OLX has its presence on social media, which includes accounts on Twitter, Instagram, and Facebook.

    Marketing Strategy of OLX

    Advantage of a wider reach across the globe

    OLX has a global footprint with 322 million monthly active users (MAUs) using the trading platform. Not only this, the team of OLX itself that includes 11,000+ members are spread over 81 nationalities (countries) making it diverse and having a wide reach; the organization ranks 3rd highest among the global companies in digital footprints.

    Partnerships

    Associated with brands like Property 24, Storia, Otomoto, Obidos and more. Its investors include Prosus Naspers, which is also its parent company. DN Capital, Founders Fund, The Perkins and more. OLX also has venture capital firms.

    The Smart Cost-cutting Infrastructure

    With the consumer market segment that includes people who are interested in buying and selling goods and services, OLX facilities as the marketplace for the same purpose, especially for people outside the United States.

    Enabling customers to strike deals directly between them. Offline also cuts the cost of getting involved for different customer segments for its infrastructure. It is an online platform that makes the process for people involved hassle-free.

    Using digital platforms and other channels

    There is a mix of media including Television ads, blogs that are targeted, having a presence on various social media platforms and digital platforms with its website which makes OLX easily stands out making people aware of its presence along with having its app available on the Play Store and App Store highlighting the fact that it is easily accessible to its users.

    The company has also kept up with change and swiftly moved onto marketing on digital platforms; when the internet started ruling the world, the company gradually adapted its budget from offline marketing to digital platforms.

    They have educated the people on how to use the app addressing the concerns of both the buyers and the sellers with various creative campaigns when entering the new markets, while some of their campaigns like “O Womaniya” and the” 6 Months Break-Up Challenge” relied on consumer insights that the company smartly used to its benefit making them successful.

    Giving a reason to the “What’s in it for me?”

    When the consumer asks the most basic question of “What’s in it for me?” OLX gives them infinite reasons to use it. Being able to filter and choose from across categories ranging from smartphones to tool kits for the user-based application and the website with constantly updating the design and adding useful features for the smooth navigation and enhancing the users’ experience.

    An additional benefit is with the knowledge that OLX has gained as exploring the cultures around the world is resolving the stigma that is usually attached to buying “second hand” goods.

    Driving Click-through rate (CTR)

    OLX positions itself as savvy and experimenting a lot with the new technology to develop visuals and the interface. Which brings new features and tools that enhance the user experience which reflects the dynamic, confidence and bursting with energy, expressing all the optimism and attitude that’s true to OLX.

    OLX leveraged its users according to a new case study which drove their metrics up to 300% CTR (Click-through rate) with the new  “saving a search” feature allowing its users to be notified when a new ad goes live that matches their search.

    The Social and Environmental Impact

    OLX Group is driving the change. It is carbon neutral since the year 2021, creating a positive impact on the environment. The company is also giving back to its communities in India and Brazil, clearly creating a good image for the organization also showing responsibility as a leader.

    OLX Pledge
    OLX Pledge

    Covid-19 Marketing Strategy of OLX

    Never a marketing strategy that has been made to suit all situations, as human dynamics are always changing.

    Tailoring a new tone

    The business observed its consumers silently to understand the changes and the situation. The brand strategically devised a tone that was fit for the ongoing situation during the lockdown. That is reassuring, empathetic, and humorous.

    Giving a message of positivity

    Reminding and encouraging consumers that they can still find ways to do the most even while being at home. Inside the four walls. During the third and the fourth stages of unlocking, the brand also came forward, being socially responsible, lending a helping hand to come to terms with helping people in the stage of acceptance and decluttering.

    Built a campaign around decluttering

    Acceptance and decluttering. Coming to terms with the ongoing pandemic and encouraging consumers to declutter their homes. The campaign centred around the idea of how it helps in mental well-being and builds a stress-free environment.

    Sapna Arora, the chief marketing officer of OLX, India centred her message around:

    Marketers using their moral compass while communicating with consumers.

    7 Innovative Marketing Strategies of OnePlus that Revolutionized Itself and the Industry
    One of the major reason behind the success of OnePlus is its innovating marketing strategies. So, lets look at Top 7 marketing strategies of OnePlus.
    StartupTalkyAnagha S

    Conclusion

    The business has not lost its sight and is aiming towards its long-term strategy. And being conscious of where they put their money for marketing. As buying and selling online is coming more into view. Having an online presence is the new primary marketing channel for all businesses.

    With its marketing communications, OLX is building trust with its consumers. Encouraging them to follow the necessary protocols laid out by the Government. Maintaining social distancing and practising the right sanitization protocols. Take the advice caring for your consumers and structuring new strategies helps you go further in the long run.

    FAQ

    What type of marketing strategy is followed by OLX?

    Olx focuses its marketing strategy to make people aware of the advantages of buying and selling on OLX. It uses almost every advertising medium.

    What is the target market of OLX?

    The target audience of OLX is young, educated who have good disposable income.

    Why is OLX successful?

    OLX focuses on advertising, It also has made its site easy to navigate and mobile-friendly.

  • Marketing Strategy of Droom: The Most Reliable Platform for Buying & Selling Automobiles

    Middle-class people are looking to buy the best car at the cheapest price. Well, rarely these two combinations can be found in new cars. Droom’s platform provided an opportunity for second-hand car or bike buyers to buy the vehicle that people wanted at in much cheaper price than new ones.

    Droom’s platform also became an opportunity for sellers because they are the ones posting images and pictures of their car and bikes so that they can find a buyer for them. Droom came into the market when there was already an existing application like OLX. But, how did they gain people’s attention and become one of the most reliable platforms when it came to buying and selling second- hand cars?

    It was all about the marketing strategy that the company adopted. The company focussed on efficient marketing and made sure to reach out to as many people as possible.

    About Droom
    Droom’s Marketing Strategy
    Droom’s Growth Over The Years
    Conclusion
    FAQs

    About Droom

    Droom is an e-commerce company that was founded in 2014 by Sandeep Aggarwal. Droom is an online application platform where people can either buy or sell second-hand cars and bikes with a fresh perspective. The company has its headquarters located in Gurugram.

    Droom’s business is primarily in creating a marketplace in India to help people buy and sell used cars (multi-category). Sellers on this platform are provided with useful tools to manage their listings. Droom became the 17th Indian startup to achieve the title of a unicorn as a high-profile investor.

    Droom’s services were appreciated by most users because a deal could be done between a buyer and a seller within five days. This was pretty amazing and a new way of bringing a service to the people.

    Droom’s Marketing Strategy

    Droom logo
    Droom logo

    Droom’s marketing strategy is quite simple yet effective one which is being able to attract new users to its website every day. There are four to five strategies that the company uses to market and brand its company. Some of them are as the following.

    Facebook (Meta) Community Advertising

    India’s most trusted motor place i.e. Droom created a community page on Facebook where the company is carrying on with its marketing. This is one of the simplest methods of marketing to attract a large number of customers at a single time.

    Impressions

    Also known as ‘ad view’ impressions means a metric system that is used to quantify digital views in a piece of content. To put it in simple words, impressions are all about online advertising.

    Targeted Mailers

    Also known as email marketing is what Droom uses as one of their marketing strategies. Once a user becomes a subscriber then the user receives emails from the company regarding deals and offers. A targeted mailing list is important for the profitability of the business. This is why Droom focussed on such marketing techniques.

    Banner advertisements again are one of the common methods of marketing not only for other businesses but for Droom too. It is the simplest way to reach out to the audience directly. Droom captured the attention of the audience through such advertisements.

    All in all, it can be said that the company uses the use of social media primarily for its advertisement. The advertisement methods might be common but they have proved to be effective ones.

    Droom, also recently rolled out their TV advertisement and started new campaigns. ‘Droom Hai, Toh Fir Test Drive Kyu?’ advertisement campaign created a buzz on several platforms. The ad campaign urged customers to buy used cars rather than testing them first.

    Droom Advertisement

    Droom’s Growth Over The Years

    With effective marketing techniques used by the company, it was obvious that Droom’s future was all about growth and flourishing in the market. Back in 2014, when the company was just stepping into the Indian market its inception took place in Singapore. It was in the same year that the company had raised its 1st and 2nd rounds of capital funding.

    By the year 2015, the company sold its first vehicle of Droom and in the same year, its several applications were launched like the mobile application, website, etc. By the time July came in 2015, the company had already raised its 3rd round of funding. By this time the company had already sold more than 100 orders.

    Droom received several awards for its contribution to the online automobile platform. Some of the prestigious awards were the Coolest start-ups award, Consumer Durable and Integrated advertising campaign awards, and more.

    Conclusion

    A company like Droom has proved that competition does not matter if marketing is done efficiently. Droom’s current growth rate is 100% every year which is quite surprising because it is something that does not happen with every business. Altogether, the company had 6 rounds of funding and by the end of its 6th round, Droom had already raised more than $125 million.

    FAQs

    When was Droom founded?

    Droom was founded in 2014 by Sandeep Aggarwal.

    What does Droom company do?

    Droom is India’s online marketplace for buying and selling new and used cars. Droom is India’s largest auto portal.

    How to contact a seller at Droom?

    There are support assistance provided to the customers who want to engage business with Droom. However, other than that there is also a Whatsapp number that people can use to contact them.

    Which vehicles can people buy and sell on Droom?

    Vehicles to buy and sell on Droom are:

    • Car
    • Bike
    • Scooter
    • Bus
    • Bicycle
    • Plane
    • Truck
    • Tractor

    Some of the popular brands of used cars on Droom are:

    • Maruti Suzuki
    • Honda
    • Hyundai
    • Toyota
    • Tata
    • Fords
    • Mahindra
    • Volkswagen
    • Audi
    • Jeep

  • upGrad’s Marketing Strategy | Acquisitions & Collaboration to Grow so Fast

    Why pay for online courses when you can get them for free? upGrad is such a company that brought out its online education application where students, teachers and everyone else can do courses for free. upGrad’s free courses offer makes it a standout application from other educational websites.

    Most websites and applications that you find on the internet do not come free of cost. upGrad is quite opposite to that and that is one of the reasons why it attracted a lot of customers. Competitions are tight in the Indian market and upGrad’s marketing strategy helped them take the lead in the online education platform.

    What Is upGrad?
    upGrad Marketing Strategy
    upGrad Acquisitions and Collaborations
    upGrad Future Plans
    Conclusion
    FAQs

    What Is upGrad?

    upGrad is an EdTech company that came out with the motive to help students with their higher education. The company performs its business completely online based and free of cost. The application also caters to large variety of courses ranging from undergraduate programs to Master’s degree programs.

    Master’s degrees and some post-graduate programs are only offered on a fee payment system. Otherwise, most courses are free of cost and are also offering a completion certificate unlike other educational applications in the market.

    It was in the year 2015 when upGrad was launched by the co-founders of the company- Ronnie Screwvala, Phalgun  Kompalli, Mayank Kumar, and Ravijot Chugh. Their efforts made upGrad become one of the leading EdTech companies in Asia. Currently, all co-founders of the company are leading different divisions within the organization. Their efforts made it to enter the unicorn club in August, 2021.

    Interestingly, upGrad was not meant to be for college students, or school students or any other institutions. But, it was designed so that more people could be familiar with the term ‘entrepreneurship’ and all those things that are required to become successful.

    about upGrad learning platform

    upGrad Marketing Strategy

    upGrad Logo
    upGrad Logo

    upGrad is a B2C company and follows a wide range of marketing strategies. The company also focuses on its marketing because it is the only way a company is recognized. Well, a company like upGrad does the same thing.

    The CEO of upGrad, Arjun Mohan had even mentioned in an interview that the company spends a whopping sum of money on its advertisements. The company also uses online tools for marketing its products to customers. Some of the most common ones are Google Ads, Social Media Ads, promotional guest posts, and many more.

    Back in the year 2020, when the company was just 5 years old had set a budget of INR 175 crore for its marketing. For a startup like upGrad, this amount is considered to be a massive one and surprising too.

    Other than spending a large amount on advertising, upGrad also focussed on promotional activities. The company took an active part in promoting its business during the 2020 IPL season. Even in the latest IPL season, i.e. 2021 upGrad took an effective part in its promotional activities.

    The company tied up with Disney+ Hotstar and associated with the Star Sports network. This again became a huge boost in the company’s marketing and promotional activities. Surprisingly, the 2021 IPL event became upGrad’s first association with any sport-related event.

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    upGrad Acquisitions and Collaborations

    A company that is not more than 6 years old quite surprised its competitors by making acquisitions. This was a huge achievement for the company because the acquisitions that they made were notable ones.

    upGrad acquired Pyoopil Education Technologies only a year after its formation i.e. in 2016. Pyoopil Education Technologies was a mobile-based SaaS product that was used by corporate. Two years later in the year 2018, upGrad made another acquisition of Acadview Software which was in the field of a college education.

    Later, in the year 2019, the company acquired CohortPlus which was known to be India’s largest product management community startup. Looking at the progress that the company has already made it is clear that the company will become the leader in the TechEd companies in the world.

    Moreover, the company has got notable connections and tie-ups with large institutes and universities. Some of the most famous collaborations are mentioned below.

    • Birla Institute of Technology and Science (BITS)
    • International Institute of Information Technology (IIIT)
    • MICA
    • Duke Corporate Education (Duke CE)
    • HDFC Life (For insurance courses)
    • IIT Madras (For courses related to machine learning and cloud)
    • Cambridge Judge Business School
    • Institute of Management Technology (IMT Ghaziabad)

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    upGrad Future Plans

    Though there are not many revelations from the company’s side of view it is expected that by the end of 2025, the company plans to cross the 5 million alumni members mark. However, other than that, the company is working on other specialization programs curated by global universities.

    With collaborations with global universities, upGrad would become a different and standout educational company in the Indian market. There will be a lot coming from the company’s point of view in the future and we hope to experience the brilliance of learning from upGrad.

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    Conclusion

    upGrad’s products and services are likely to improve and enhance better learning to its customers in the upcoming days. It is not that the company is not doing great currently but the future of the company will determine upGrad’s sustainability in the market.

    FAQs

    Who has founded upGrad?

    upGrad was founded by Ronnie Screwvala, Mayank Kumar, Phalgun Kompalli, and Ravijot Chugh in 2015.

    Are there free courses available at upGrad?

    Yes, there are free courses which can be done free of cost. The company caters to courses ranging from various subject areas.

    Does upGrad provide a 100% job guarantee?

    Yes, the company offers a 100% job guarantee to fresher candidates and other people as well.

    Who are the Top Competitors of upGrad?

    Some of the top competitors of upGrad are:

    • Coursera
    • Byju’s
    • Edureka
    • Simplilearn
    • Unacademy

  • ShareChat Business Model | How does ShareChat Make Money

    Technology brought us the Internet and smartphones. Thanks to these two, we have another medium that is not less of a miracle. Social Media is a part of our daily life. It is almost impossible to imagine, not having a social media account at this age.

    Social media gives us an opportunity to connect with people. It doesn’t matter where they live; one could stay connected with each other through social media. Apart from staying connected with people around the world, one can share their thought, insights basically their life on social media. We also get to have different careerists opportunities as well.

    Some of the well-known and most used social networks are Facebook, Instagram, WhatsApp, Twitter, and others. They are the mains that have people flocking over them. Apart from that, there are various other social media platforms that are taking the world by storm. Among all of them, one such platform is ShareChat. In this article, we will talk about this app and take a look at its business model and how it makes money. So let’s get right into the business.

    “The great thing about social media was how it gave a voice to voiceless people.”

    -Jon Ronson

    What Is ShareChat?
    About ShareChat
    Features of ShareChat
    Target Audience of ShareChat
    Business Model of ShareChat
    How Does ShareChat Make Money?
    Revenue Of ShareChat
    FAQ

    What Is ShareChat?

    ShareChat is an Indian social networking platform that gives users an option to connect with people and also share videos, pictures, and status in their own language. The features like direct messaging and tagging are also included in this app. The app has over 160 million active users monthly. Ankush Sachdeva is the current CEO of ShareChat.

    About ShareChat

    ShareChat first started its journey in the year 2015 and was founded by Ankush Sachdeva, Pratap Singh, and Farid Ahsan, all of them graduated from IIT Kanpur. The social networking site is under Mohalla Tech Pvt Ltd. The headquarters is situated in Bengaluru, India. The company has over 400 employees working for it now.

    In the year 2016, ShareChat enabled its users to create user-generated content that is, they got the option to share photos and videos of their own. In the year 2018, it launched some spectacular features for the users of this app, which made it quite a fan favourite.

    Features of ShareChat

    Some of the highlighted features of this app that makes it popular amongst social media users are down below:

    • The best part of this social media is that it allows people to handle their accounts in their own language. 15 different Indian languages are available in this app namely, Bengali, Marathi, Punjabi, Hindi, Urdu, Malayalam, Gujarati, Odia, Kannada, Assamese, Haryanvi, Telugu, Tamil, Rajasthani, and Bhojpuri.
    • Apart from sharing your content on the platform, you get to have a private messaging option, where you can send messages to other users of the app and stay connected with them by having one-to-one communication.
    • Another popular feature is tagging, where you can create a tag and can post whatever you may like under them.
    • You can also follow another user in this app and can see their regular updates here whatever they are sharing.
    • It also has a feature to share any content that exists on the social media platform on WhatsApp.

    Target Audience of ShareChat

    ShareChat target audience is not limited to any certain groups but it mostly targets people who want to use social networking platforms in their mother tongue or any regional language. Plus it is also a safe place for the people who are using the internet and indulging in social media for the very first time.

    Business Model of ShareChat

    There are two ways in how content marketing is done on the internet. The first form is one the content is created by the creators of the platform and is only owned by them and the other form is where the users of the platform generate their own contents. This social media platform falls under the second category. All the contents are user-generated here.

    Those contents are shared with the other users. It includes pictures, videos, posts, GIFs, audio, and others. Apart from that you can connect with several people here and can make friends with whom you can share your daily updates and of course can interact with each other. The feature that makes it unique is that all of these can be done in any 15 regional languages that ShareChat provides to its users.

    How Does ShareChat Make Money?

    ShareChat mostly makes money through advertising. It mainly collects the data of the user’s analyses them and of course, stores them. These data are then given to the advertisers so that they can identify their target audience and advertise their products to them.

    Apart from advertising, it also generates revenue through payment transactions and sponsored campaigns. They also tie up with local brands that sell products and services amongst the regional language-focused audiences.

    In 2020 following the tension between India and China, when India banned Chinese apps. TikTok was also banned. ShareChat launched a short video platform named Moj as its parent company, which has the same features as TikTok on 29 June 2020. This app reportedly has 160 million active users monthly and has beaten its several competitors like MX TakaTak and Josh and is considered India’s top short video creation app.

    Revenue Of ShareChat

    The company faced a big loss in the year 2020, approximately ₹676 crores. The year 2021 bought quite good news for the Indian social media as it enters into the Unicorn club after raising a fund of $502 million and its valuation jumps to $2.1 billion. The funding was received from venture firm Lightspeed Ventures, Tiger Global, Twitter, and Snap Inc.

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    Conclusion

    With so many different social media apps launching every day, there will be few that are going to be successful and will be able to entice people to use them. Some new and exclusive features have to be added to capture the attention of the users, ShareChat, the new member of the Unicorn club has been able to do that.

    FAQ

    Is ShareChat a Startup?

    ShareChat is an Indian social media startup.

    Who is the CEO of ShareChat?

    Ankush Sachdeva is the CEO of ShareChat since 2017.

    Is ShareChat Made In India?

    ShareChat is a social media platform that is particularly made in India.

  • How Did Revolut Turn 70 Employees Into Millionaires? [Case Study]

    Revolut is a UK-based Fintech company that provides banking services to its client. The company was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko. The services they provide include currency exchange, credit card, and debit cards. With time the evaluation of this company has grown manifold. It has benefitted its shareholders immensely. But not only that it has managed to make 70 of its employee into a millionaire. So, let’s look at how Revolut turned 70 employees into millionaires.

    About Revolut
    How Did Revolut Help 70 Employees Turn Into Millionaires?
    The Revolut Share Sale Controversy
    FAQs

    About Revolut

    Revolut Founders
    Revolut Founders

    Revolut is a fintech company based in London, founded by two Russian entrepreneurs Nikolay Storonsky and Vlad Yatsenko. This company provides various banking financial services to its customers. The prominent services they provide are debit cards, credit cards, and virtual cards. They have also started providing services in free stock trading, crypto, etc.

    Recently it has started expanding in Japan in the year 2020. In the same year, they increased their employees from 1500 to 5000. It is now one of the most valuable companies in Britain. Today it is the fastest-growing fintech startup.

    How Did Revolut Help 70 Employees Turn Into Millionaires?

    Revolut has been giving services of credit cards, debit cards, and many other banking services. With time, it has grown more and more. It also provides quality services.

    Being a fintech company with smart products, it has successfully acquired the whole market. In due course of time, they have provided profit to their shareholders and also provided ESOP to their employees.

    Implemented Shrewd Business Model

    They grew quickly within a single year. As many as 10,000 users registered with them. Till now because of their shrewd business method they have made 70 of their employees into millionaires. In the initial days, the company had given its employees a good percentage of ESOP. This was done to encourage them to work harder and they too would become rich with the company.

    Issued ESOP To Its Employees

    With time, the company grew and it not only paid its actual shareholders but also made its employees rich as well. A lot of new employees also joined and have also opted for ESOP. This is why there might be more employees who turn out to be millionaires.

    But all these things are on paper only. It is not so easy to sell these shares. Revolut is not yet listed on any stock exchange. This is why it is not so easy to monetize them.

    At present, the company is allowing its employees to only take out parts of their shares. In reality, the employees have to sell their shares at a discounted price. But even in this case, it is making them rich.

    The Revolut Share Sale Controversy

    Revolut has issued shares to its employees when they joined the company. Now when the company has grown, the company has allowed their employees to sell some amount of their shares.

    To be specific, they have allowed their employees to sell 20% of their shares and allowed their former employees to dilute 10% of their shares. But it is not as simple as it looks. To monetize their shares, they need the help of a special agent.

    They also have to sell their shares at a discounted price than the original one. If they want to take the help of an agent, then fees will also be charged from them. This is why they have to pay extra money to sell their shares. This is causing a lot of discontentment among its employees. Many of the employees complained that the shares were not getting sold. Others complained about the discounted price.

    But in reality, these things are completely justifiable. First of all, it is a big luxury for people to sell shares of a new company. This is why it is completely fine to do it this way. Though they have to sell their shares at a discounted price the amount of money they’ll receive is huge.

    In the year, 2020 when the company was facing some slowdown due to the pandemic, they fired many employees. It was said that Revolut forced their employees to either resign on their own or they would fire them.

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    Conclusion

    This was the case study on how Revolut helped 70 employees turn into millionaires. If you are an entrepreneur, you can implement these learnings in your startups as well. Hope these learnings will help you grow your startup to new heights.

    FAQs

    What is Revolut?

    Revolut is a fintech company that provides various banking financial services to its customers. The prominent services they provide are debit cards, credit cards, and virtual cards. They have also started providing services in free stock trading, crypto, etc.

    How many employees does Revolut have?

    Revolut currently has a workforce of over 3000 employees.

    How Did Revolut Turn 70 Employees Into Millionaires?

    Revolut made over 70 employees into millionaires by implementing a shrewd business model in the organization. They also had an entrepreneurial culture that made their employees strive to be millionaires and work hard. They also gave their employees ESOP that they turned into millionaires.

  • Spicetree founder’s fuelling thoughts on how to be a successful entrepreneur

    This article is contributed by Mr. Shiraz Khan, Founder/Director, Spicetree Design Agency. SDA is an integrated digital solutions agency with expertise in developing strategies across web design/development, print designs, digital marketing to brand identity and consultation in products & services.

    When you start a business and see it evolve into a successful organization, it is natural to think that it is all because of you. You start feeling like the boss. As the owner/founder of the business or the CEO.

    If you think entrepreneurship is about being the boss, then you are completely off the target. Any managerial position gives you the authority to issue orders, give instructions and ask people to follow your command. However, it doesn’t make you a successful entrepreneur. After having spent long years leading the team towards greater achievements, I (Shiraz Khan) can say with confidence that one can lead only by example.

    The first and foremost thing that every entrepreneur should remember is that they can’t complain. The business you have built is structured by your vision, and where it will go also depends on your vision for the future. Whether it is smooth sailing or adversity, an entrepreneur never loses sight of the big picture, and even in the toughest scenarios, they will focus on finding solutions and making progress. This hunger should never get satiated.

    One of the best ways to do so is to display solid work ethics and a zeal to perform. Be the first one to arrive at work and the last to leave.

    Isaac Newton had once remarked, “Opportunity is missed by most people because it is dressed in overalls and looks like work.”

    Every working day, I reach the office early just because I know that nothing works better than showing the way. People will adopt best practices when they see them in action. Instead of preaching the virtues of punctuality and an early start, I prefer to demonstrate how it is done.

    To be honest, there is ample chance of being misunderstood by people. Some people might see it as indirect pressure, and others as old-school practices, but what truly eggs me on is that my actions as a leader are going to motivate people to focus on self-improvement. I am giving them the reason to walk the path of self-betterment. It is this responsibility of a leader, and the opportunity to bring about a change each day, that makes me step forward with double enthusiasm, each morning.

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    A major challenge that I have seen a lot of people struggle with, is monotony, boredom, or the complacency that creeps in subtly and creates a negative, low-energy environment at workplaces. It is important to be constantly on the guard against such a negative state of mind. As a leader of my pack, I enthusiastically promote a work culture and environment that helps my employees align their job responsibilities with their purpose and enjoy doing what they do.

    Being the Founder-Director makes me the torchbearer for my people and leads them to achieve organizational as well as their own growth. I have constantly strived to build an environment full of equal and attractive opportunities for all the employees. A company’s growth is best exemplified by the growth and success achieved by its people. If the people are unhappy and stagnant then the company is not doing well, and if the people are happy, full of purpose then the company will scale faster. Also, the opportunities for growth shouldn’t just be decided from the top down. As the leader, I believe it is crucial to ensure that the opportunity is packaged and presented in a manner that entices people to go for it.

    Also, there is no doubt that being able to command the ship and having a good grasp on the pulse of the business is the greatest joy for an entrepreneur. Whether it is internal management of the company or the successes one achieves in the market, it is highly satisfying to see that each gain benefits all the people. This is one of the major factors that drives me towards finding new and interesting avenues of growth for the people around me.

    The best part of leadership is to see that each and every person around you get better at the game, each day. Once you are able to inculcate that culture and zeal in the organization, everything else falls into place automatically!

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