StartupTalky

Tag: šŸ“– Learning

  • What Should You Know Before Developing Backend for Your E-commerce Website?

    Before establishing any e-commerce website, or any web application, we should establish a fully functioning system before kicking off. If we do not do our homework in setting up this system, we would face a lot more difficulties as time progresses.

    They are two main components that come to play when it comes to setting up this system- Frontend development and backend development .

    Examples of frontend-based technologies are HTML (HyperText Markup Language), CSS(Cascading Style Sheets), Angular.js, React.js.

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    What Is Backend Development?
    What are the Key Components of Backend Development?
    Things To Consider Before Backend Development For Your E-Commerce Website

    What Is Backend Development?

    They are two main components that come to play when it comes to setting up this system- Frontend development and backend development. Frontend development involves those aspects of programming that the user/client can see and interact with. A frontend developer is to build on the User Interface and User Experience and thus bring those designs to life and thus provide a structure needed for feasible working.

    Backend development involves the other aspects of programming which are faced by the server/programmer and are responsible for the smooth functioning of the platform from behind the scenes.

    Actions taken by the user/clients are analysed, fetched, and then data is manipulated depending on what is the function of the platform by the backend developer. A backend developer should be well versed in knowing various databases and frameworks which we would discuss in detail.

    What is backend Development?

    What are the Key Components of a Backend Development?

    The key components of a Backend ecosystem are as follows:

    Database Management

    Database management for E-commerce website
    Database management for E-commerce website

    A database helps us maintain and process the humongous amount of data, created by the users, that is present in the web application. The backend developer is the one who is responsible for storing, retrieving, updating, and managing the complete dataset.

    While the frontend developers do have the option of manipulating data from the Application Programming Interface (API), it is a cumbersome process, and asking the backend developer to manipulate, like say adding new data, through the databases he has is widely seen as a time-saving process.

    Examples of databases are SQL, MongoDB, DynamoDB by Amazon, Firebase by Google, etc.

    Backend Framework

    A backend framework is a foundation where the user has all the foundational tools needed for developing the backend applications in one place together. Thus, they automate all of the necessary prerequisites correlated with backend software development activities.

    The advantages are that it reduces the time taken for the whole process and can make it more scalable across various other platforms. Some popular backend frameworks are express.js, Django, Ruby on Rails, etc. And all of these backend frameworks need an environment conducive to work. There comes the role of various programming languages like Python which supports Django or runtime environments, which allows the user to run the language outside the browser.

    For example- Node.js, which provides a runtime environment in which JavaScript can run, is the platform on which Express.js runs. These runtime environments, as seen in Node.js, also act as their web servers which turn out to be very convenient. Web servers are a type of software that takes requests from users, scans, and then provides an end product in the form of the requested documents to the user.

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    Things To Consider Before Backend Development For Your E-Commerce Website

    Things To Consider Before Backend Development For Your E-Commerce Website
    Things To Consider Before Backend Development For Your E-Commerce Website

    Compatibility

    In some cases, the database is way more compatible with the backend framework which makes for smoother implementation and convenience. For example, MongoDB works way better with Express.js(and thus node.js) than SQL simply because there is no specific need for a well-structured schema for MongoDB as in MongoDB the data is represented as a collection of documents rather than tables with foreign keys.

    This is why ā€œstacksā€ exist. Stacks are a set of software subsystems that comprises the various software that is compatible with each other. In web applications, it consists of various components depending on the circumstances. For example, it could include the three backend aspects in the databases, backend platform, and the programming language/run-time environment.

    It could also include the front-end (web application framework) or even the webserver. At times, if it works with only a specific operating system, then even that is included in the stack.

    One popularly known stack is the ā€œMEAN” stack(MongoDB-Express.js-Angular.js-Node.js) where MongoDB, Express.js, and Node.js act as the backend components while Angular.js is the front-end component. Alternatively, we can substitute Angular.js for React.js and thus, the ā€œMERNā€ stack.

    Another known type of stack is the ā€œLAMPā€ stack(Linux-Apache-MySQL-PHP/Python). Here Linux is the specific operating system on which it works, Apache is the Web Server responsible for connecting web browsers to the correct website, MySQL is the database used and PHP/Python is the programming language on which this works. There is also the Python-Django stack which comprises the programming language in Python and the backend framework in Django.

    Thus buying into these tried and tested stacks which are compatible with each other makes for smoother implementation of the project. We must also ensure these stacks are compatible with the technology we use, for example, we canā€™t try to use the LAMP stack on a Mac or a Windows directly without separately installing Linux in it.

    Scalability

    By Scalability we mean whether the system increases or decreases in performance and cost in face of more application and process demands than what it is used to.

    Thus, when building an e-commerce website, we need to be sure of roughly how many users would come to our site at various junctions of time. For example, if the e-commerce site is targeting a low number, but niche customer then it makes sense to use MySQL as database, as it works well when there is a low write/read ratio. If the site is targeting a higher number of users then it is preferable to use MongoDB as our database as it is suited to handling larger and more complex data.

    It also makes sense to use JavaScript(.js) backend frameworks more than Python-based frameworks as it allows multithreading, which makes for better scalability. Multithreading is a model of program execution that allows for multiple sequences of programmed instructions to be created within a process, executing all of them independently but at the same time. JavaScript-based frameworks also have more inbuilt libraries which give us a lot more diverse options in hand.

    Efficiency

    While selecting what kind of technologies we need for our backend framework, we also need to consider how much time it takes for building the process. Like if the e-commerce website has any time constraints then they can quickly launch the product using LAMP, but if we can take a slow and steady approach then it makes sense to go for the MEAN framework as it allows for better performance.

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    Frugality

    We also need to consider the various costs involved in setting up the whole process in the first place. That could be the expenses paid to the developers, or could be the separate cost of setting up the web servers and so on. In the end, all of these depend on the complexity of the task-in-hand. Like, it may take relatively lesser costs for a low-level e-commerce website using JavaScript-based frameworks as all of them can be dealt with by a single or a group of JavaScript specialists. Whereas for say LAMP you need a separate specialist for Apache and then PHP which might bring more costs and more parameters to be considered, thus making it complex.

    Security

    We also need to consider how secure the back-end frameworks are and be wary of them before incorporating them into our e-commerce website. Like, due to different servers and client codebases, we might allow malicious data to enter while operating through a LAMP stack.

    Similarly, privacy issues might prop up if we disable JavaScript and this can be an obstacle in running the MEAN stack. We need to find the optimal solution which does not compromise our security.

    Conclusion

    Thus, here, we have discussed the various factors which should be considered for the backend development of any e-commerce website. A basic rule of thumb is that for smaller applications it makes sense to go with a LAMP-based stack and for bigger ones, it makes more sense to go for MEAN-based stacks. There might be some innovative developments in the future but for the time being, it makes sense to go with these known frameworks so we can start the business soon.

    FAQs

    What is backend development?

    Backend development refers to the server-side of a software/application that communicates between the database and the browser.

    What are the Key Components of a Backend Development?

    Key components of Backend Development are:

    • Database Management
    • Backend Framework

    What are the features of an eCommerce website?

    E-Commerce Website Features are:

    • User-Friendly Design
    • Mobile-Friendly Features
    • Detailes Product Description
    • Several Payment Options
    • Customer Support Features
    • Sales and Discount
    • Users Review Option

    Which technology is used in backend development?

    Technology used for backend development are:

    • Javascript
    • Python
    • Ruby
    • PHP
    • C#
    • Perl
    • C++

    Which is the best example of an E-commerce website?

    Some examples of the best E-commerce websites are:

    • Amazon
    • Flipkart
    • Ebay
    • Walmart
    • Snapdeal

  • 9 Office Rules That Are Hated by Everyone

    Rules are a part of our life, we are expected to follow them everywhere. From schools to our office, every organisation have a set of rules that one associated with them has to follow.

    Office rules are a set of written rules for employees to be professional and polite person. While office rules depend on the company, generally, some office rules are made to allow employees to correct their behaviour in the office. These office rules affect everyone.

    In this article, we will talk about the rules that one needs to follow in office but doesn’t like. So, let’s get started.

    Attendance Policy
    Restricting the Internet Policy
    Time Policy
    Bathroom Policy
    Counting With Miles Policy
    Overtime Policy
    Rigid Ranking Policy
    Banning Cell Phones Policy
    Dress Code Policy

    Attendance Policy

    Attendance is a significant part in any organization. It is basically the record of how many days you have been in the office at the proper time and how many days you were late for the office. It also determines the day that you have come to the office. All these records are saved in any kind of tool for attendance that particularly depends on the organization.

    The company expects the employees to do the first thing after coming to the office is putting their attendance in the log of the office. However, those who want to cheat with the attendance log can, and the organization should use other tools for keeping a record of attendance.

    Restricting the Internet Policy

    There is no doubt that the internet has become a very necessary part in our life and on in any organization, it is much more important. Giving employees access to the web, however, is not a very trustable thing.

    Instead of working at their office, Ā employees will tend to pass their time by doing other activities and neglecting their office work. To make sure that the employees are working and not doing other things, companies restrict the use of internet for the employees in the office. However, just because one person at the office spent time watching other stuff rather than writing important mails does not mean that the other employees should get punished for this. The company should allow the responsible employees to use the internet in break time, as long as work does not suffer. Besides, these rules are preventing employees from doing research and using the internet as a useful tool.

    Time Policy

    It is being asked by the employees, ā€œ what were you doing all day?ā€ and itā€™s a very humiliating question for most and no one wants to answer this especially when they have to work all day in the office. Though the toughest challenge faced by a companyā€™s management is to keep records of work and time spent by the employees.

    As un-tracked work hours could be costing massive losses that business incurs daily across the world. However, keeping a record of every employee can be difficult for any organization. A company manager is always concerned about the lost time and thatā€™s natural because that directly impacts the company’s growth. Although the employees working daily donā€™t like to be questioned in turn. Trust is essential for successful cooperation in the organization. A company manager should trust their employees.

    Bathroom Policy

    Some organizations have a policy of how many times a person can use the bathroom in the office. Managers should not add these kinds of policies to the office. When an employee has to go, an employee has to go. Unless that employee is not abusing bathroom rights and spending unnecessary time without completing their work.

    A Chicago-based firm, a call centre in Scotland, Amazon have this policy which is criticised by employees as well as people around them.

    While there is a clear public policy of allowing employees access to bathrooms, it does not support that employees may leave their tasks at any time without responsibly completing them. Seriously, limiting people’s trips to the bathroom is only going to give them serious health problems.

    Counting With Miles Policy

    Some companies have the policy that any employee going on a work trip from the company side, they have to give a record of how many miles they have travelled. This policy is a bit unnecessary if the employee is going on their own expenses. Thereā€™s no need for keeping a record of how many miles the employee travelled.

    Employees generally hate to do this because there should be trust between the company and the employee and the employee feels like the company does not trust them. Plus if the company should not send an employee if they feel thr employee is not that trustworthy.

    Overtime Policy

    Overtime is the period in which an employee has to work more than their working hours. Under the overtime rules and policies defining work hours, an employee should work 8-9 hours per day in India which equals a total of 48-50 hours a week. The company sometimes offers employees more work to do as overtime and also the company pays for it. Employees do not like to do overtime but they have to fulfil the company’s requirements.

    Rigid Ranking Policy

    We live in a world where benchmarks and rankings are set to judge the performance of a person. When rankings are used at the office for praising employees’ performance, many managers think that doing this can inspire them to become more competitive. This will help them in working hard to catch up more.

    Although in reality, the opposite happens, employees become demotivated. People who ranked highly will always think that they are already in the highest position, and are the best. While people who are ranked too low can become depressed about their work and might give up.

    Companies like IBM, Amazon, and Facebook use this policy to rank their employees.

    Giving feedback is another thing but comparing employees to other employees is not good for the companyā€™s growth. Companies can compare the individual performance of an employee and that will help them in growing their confidence.

    Banning Cell Phones Policy

    The use of cell phones at the office can cause extended personal interaction during working hours. The banning of cell phones is used to protect company secrets. Cell phones cause various kinds of distractions in offices while people are working.

    Employees talking on their cell phones, sharing pictures and videos, and loud ringtones are annoying factors that result in banning cell phones at the office. So companies follow this policy. However. banning cell phones will always result in employees finding other ways to use them. Some may have legitimate reasons to use their cell phones which may affect the employee’s ability to work. Anyone who uses their cell phones just to avoid doing work will find another way of using a cell phone or wasting time.

    Companies like Concentrix, Genpact, American Express, Accenture and Fidelity have the No Cellphone Policy in their offices.

    Companies just need rules to protect their privacy. So they should allow cell phones during break time. So that in an emergency, employees would be able to use them.

    Dress Code Policy

    The debate over whether or not companies should have a dress code policy or not is going on for a long time. Some organizations believe itā€™s essential that their employees should have certain standards regarding the way they dress up at the office. This is mandatory when employees have to attend face-to-face interactions with the clients on a daily basis.

    While many employees donā€™t mind following the dress code, others feel that as adults, they are more than capable of deciding how to be at the office without having a formal dress code.

    Companies like Wipro, Wells Fargo, and JPMorgan Chase have a strict dress code. Wipro and JPMorgan Chase allow their employees to wear casual clothes on Friday.

    If the company is deciding to implement a formal dress code in the office, the company should try to get a balance between guidelines that give the employees the need for comfort and style and also a policy that requires them to dress in a way that reflects the values of the company. If the dress code is implemented in the right way, employees will have no reason to oppose it.

    Conclusion

    Employees should be trusted at the office by the manager. Employees are all adults who should not be treated like under-performed employees by the company. Just because of the mistake of a few employees, not everyone should be punished.

  • Case Study of How Indian Brands Under Twitter Attack After Indo-China Conflict

    Indian based startup unicorns like Flipkart, Zomato, Swiggy and Paytm have recently been under the radar of Twitterati accused them of getting investments from Chinese investors. This anger has abruptly taken a rise after the deceitful act done by China at the Galwan Valley after 20 Indian soldiers were killed.

    People have shown their anger on Twitter and have also suggested to start boycotting the services of these applications which are either china based or being funded by Chinese investors all over India. Many users have asked that these companies should get their stakes back as most of the stakes of these companies are in the hold of Chinese investors.

    How Flipkart Responding To The Situation?
    Snapdeal Statement
    Chinaā€™s Investment and Future Prediction

    How Flipkart Responding To The Situation?

    People on Twitter are asking people to boycott and it can be a harm to their current market situation. Although they have not come up with any formal response regarding this they posted a photo informing people that how they are trying to help sellers across India to work hard and how they will support them by providing their health insurance plans, by laying off the storage fees and trying to provide flexible work policies making them feel more comfortable and helping these sellers to ease their work.

    China has created a large effect in the Indian market by investing frequently in the past 5 to 6 years. Many of the Indian homegrown startups have been backed up by Chinese investors. China has been a key investor in the technological development of the Indian market. With the recent situation where people are boycotting Chinese goods and the Government is banning Chinese Apps, things are turning worse.

    ā€œThe overall sentiment is anti-China and that is building on various counts which have now been aggregated. A lot will depend on whether or not the government wants to play the hardball.The social media storm was inevitable. In the past also we have seen how some apps were downgraded citing ‘national interest’. There could also be some direct business impact for the time being. However, how it will reflect in the long term will totally depend on the way the government plans to handle the current situation.ā€ – Anonymous Industry Executive

    Snapdeal Statement

    While companies like Flipkart, Ola, Zomato, Swiggy and Oyo have not given any formal statement or uttered any word regarding this but Snapdeal came forward to give a statement.

    ā€œSnapdeal has always been focused on creating opportunities and access for India’s small and medium businesses – sellers and manufacturers. For over a decade, we have championed the cause of Indian MSMEs and provided them with a platform to grow and succeed. As a proudly Indian company, we remain committed and steadfast in this mission.ā€ – Snapdeal

    Chinaā€™s Investment and Future Prediction

    A source named Gateway House has estimated around $4 billion of investments have been done by them in India’s technology-based Startups in 2019 while a $2 billion investment was done in the year 2018. Moreover, at least 18 of the top 30 startups in India are being backed by Chinese investors.

    Ant Financial, Tencent, Shunwei Capital, and Alibaba are some of the big Chinese investors who have their stakes in Indian based unicorns. Well, a startup founder has also stated that after the month of April the Chinese investments have started to come down due to which the doors have been opened for other avenues which are based in UK, USA, Middle East and India.

    ā€œFresh investments will take time because everyone is cautious as to what will happen next. There is going to be a bit of a lull because the sentiment is certainly low. Both Wuhan and border tensions have come at the same time. There is an element of negativity. However, it will not have a major impact on the existing companies operating in India that have Chinese investors on board. The very fact that Chinese companies have invested in Indian firms, doesn’t make them ‘Chinese products’. There are so many Indian companies that have set up manufacturing units in China. If we keep on boycotting things like this, we will end up hurting our own economy and the talent growthā€ – Sreedhar Prasad, Independent E-commerce Analyst

    Conclusion

    Although it will be a hard road for India on the economic front for a while as there is a ban on the investments by the world’s second-largest economy it will help in getting invested by other countries too which are more reliable and will help create a good relationship with them. Also, it will be helping all the Indian based startups and entrepreneurs and provide them with a great opportunity in the near future.

    With the current tensions at the border, it looks impossible for a while to expect good relations with China and the spread of the deadly coronavirus will also play an important role in the Chinese market as many countries would give a second thought to having economic relations with them.

    The USA is the world’s largest economy, and is showing some disinterest in China for the past two to three months too can look forward to India and can become a prime investor in these firms.

    FAQs

    How many Chinese apps are banned in India?

    224 Chinese are banned in India since 2020

    Is PUBG banned in India?

    PUBG is banned in India under the instruction of the Government of India.

    Why Chinese apps are banned in India?

    Chinese apps are banned in India because of the security and thereat of Indian citizens and the ongoing conflict between the two countries.

  • How to Start an EdTech Company in 2022? (Step by Step Guide)

    Markus Aurelius said that the first step of understanding anything is simplicity; he proposed that one should understand the nature of something before dwelling on it. So going by the words of one of the most renowned philosophers in the world, let us understand what is ed-tech or educational technology.

    Breaking it down to its simplest form educational technology usually involves the use of computer software and hardware along with teaching pedagogies to facilitate and enhance the learning experience. The ed-tech industry is quite a niche market and its demand has been rising in recent years. so if you are someone who wants to build your own edtech company here’s how you can get started.

    Research the Market
    Narrow Down and Validate Your Idea
    Define Your UVP and Choose the Right Business Model
    Build the Perfect Team
    Have a Proof of Concept/MVP

    Research the Market

    Research about EdTech Industry
    Research about EdTech Industry

    While I was researching this topic, I understood that many renowned personalities in this field have suggested first understanding the ed-tech market. For example, before the pandemic started, the US ed-tech sector received 1.66 billion in investments, which is the highest in 5 years.

    While many industries were at a disadvantage due to the pandemic, ed-tech companies raised an astonishing 16.1 billion USD. Knowing the market, its demands, and other things like that would ensure any suitor in this sector scale the evidence and weigh the facts.

    Narrow Down and Validate Your Idea

    You need to understand the concept of divide and conquer when it comes to ed-tech. The ed-tech market is too vast and ever-changing for a single entity to rule over.

    The first step is to critically and objectively view your own idea. Find out whether your idea serves the customer’s needs and itself is unique. This will also go on to indirectly help you predict the market, discover the trend of your niche, and identify your competitive advantages.

    It may look tempting to start your own ed-tech company when I put it across in such simple terms but we need to understand the problem of validity because before you propose any idea you have to ask yourself these 3 questions,

    • Does your idea solve a problem that is troubling a lot of people or improve a system that is quite essential in this specific area?
    • How do you know that you are solving a problem?
    • Do you have enough data and research backup to support and pitch your idea?

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    Define Your UVP and Choose the Right Business Model

    Any business requires a UVP or a unique value proposition. What can you offer that other companies can’t? Your unique value proposition can be constructed by 3 crucial things,

    • The value that is delivered by your product.
    • The customer base that you would like to target.
    • What is the approach you are adopting to sell your product in this highly competitive market?

    The right business model must follow your UVP. A business model usually entails how your ed-tech startup will achieve its goals and earn its revenue. It also describes the main highlights of your product and how it is going to create value for your customers.

    You can experiment with a number of business models. Certain business models usually are taken up with the intention of rapid growth and the capture of large market shares, whereas certain others would usually involve selling products to institutions and monetizing your customer base from the beginning.

    My advice to anyone who is interested in this area would be to choose a business model that helps you build a sustainable and independent business around a challenge or problem that you are trying to solve.

    Build the Perfect Team

    Building the Right Team
    Building the Right Team

    The right team is necessary for any business to succeed. In the highly competitive ed-tech industry, one needs to have the right team for even his/her idea to even come into consideration in front of investors. The best way to address this problem is to hire a group of professionals who are passionate and have an experienced background in education, which acts as their primary motive and the monetary benefits as their second priority.

    Try to build a team that can help you create a scalable monetization model and a go-to-market strategy for your product. Being an ed-tech company’s CEO is definitely a different experience. You should start engaging in educational conventions, start visiting your local schools and understanding their learning demands and start talking to other individuals who are involved in the same business.

    Being a startup in the initial stages would usually mean that you would have to work with minimum revenue. It is always better to work with an outsourcing company than pay an in-house team of engineers.

    The need to have a skilled CTO – an individual who has the experience and expertise to work on the design of your product and oversee your development team is key to progress.

    Have a Proof of Concept/MVP

    Theoretically, it is easy to pitch any business idea. Practically every aspect of the product will find it difficult to serve and deliver to different demands of the real world. The best way to resolve this issue would be to build a proof of concept.

    By building a proof of concept, you would have a strong base to validate your idea on a minimal budget. This application would usually involve the most important functionality or risky features of your product. Fancy design should not be used here to dazzle users.

    Minimum viable product (MVP) works on similar lines with proof of concept. Proof of concept usually involves proving that your product will work in real life but whereas an MVP ensures that your customers are satisfied and pleased with your product.

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    Conclusion

    Finally, in conclusion, we can say that by following these steps, you may have the perfect start for your company, but we should all remember consistency is key for any business to become better. With thorough research and strategy, any business can become successful and so is the case with ed-tech.

    FAQs

    How does EdTech make money?

    Usually, edtech companies make money by selling their courses to students or schools. There are also companies that provide their courses for free but charge a small fee for the certificate.

    How do you get funding for EdTech startups?

    First, you need to prepare a solid business plan and then you can approach angel investors or VCs to pitch your idea and receive funding.

    What is the future of EdTech in India?

    India’s EdTech industry is growing at a really fast pace and is expected to reach $30 billion in the next 10 years.

  • How to Become Best at Event Planning?

    Event planning is a cool job to have but hard to execute and make a living out of it. The event planning business is a grey area that only a limited number of experts know in and out. There are five basic skills you need as an event planner. You don’t have to go to a specific school, follow a specific course or education on event planning. One gains event planning education through experience and actual projects. Planning can be quite needy and hard at times, and that’s where real-life experiences help.

    An event planner who makes money out of selling events is no less than an entrepreneur. It’s different and a bit harder than working as an event planner on the payroll for a company that pays a set salary every month. Either way, you need to gain experience and basic knowledge. Networking is the most effective strategy for event planners to find new clients with a significant share attained through social media.

    Learn to Plan
    Listen to Your Clients
    Manage Your Finances
    Be Prepared for Everything
    Learn to Handle Criticism
    Research About Event Planning
    Get Experience
    Choose Your Specialization
    Get a Website

    Learn to Plan

    You need to know about planning. Though it’s obvious by the name, several event planners are not able to plan. As an event planner, you have strict deadlines and you should hit those deadlines earlier rather than later. A lot of event planners think they can delay a bit but that’s equal to inviting the client’s wrath. Those event planners who tend to procrastinate should know that their procrastination will lead to difficulties. So, you need to plan well not just for yourself but also for your team and clients.

    Listen to Your Clients

    A lot of people go into the event planning business with their perception of what a good party or event looks like. You should bring in your ideas but in the end, your client needs to be happy with your services while you cater to their needs. If your client comes to you and says, “Oh, I want a balloon themed party, ‘ and you bluntly disagree with the idea, it means you are not listening to the client. A client’s requirement has to be met; after all, you’re being paid for meeting certain expectations. Add your creativity while adhering to the customer’s core requirements, and listen to your clients. The event is meant for the customer and he or she needs to be happy.

    Manage Your Finances

    You need to be good with finances. A lot of event planners don’t know about managing money. As an event planner, you work with a tight budget. It’s good to be cool and awesome while planning the event but don’t go overboard with the budget. You always need to have an emergency fund to bank on if things go awry.

    For example, if you order a cake and the baker doesn’t show up, you need to have some extra money to order an alternative. If you do not have basic financial skills, work on them immediately. Your clients will be not fond of your service if they are forced to spend more than their budget.

    Be Prepared for Everything

    Creativity is the secret sauce. Through creativity, event planners can find solutions on the spot when everyone else is flipping out. As an event planner, you often troubleshoot when least expected, even though you assume everything is planned well. Your clients can turn the course of the entire event in five minutes before and you have to be creative to solve such issues.

    What if the caterer turns up late? You arrange for quick bites. If there are electricity problems, the generator you had as backup comes to the rescue. The scenarios are innumerable, you may not be able to prepare for all of them. However, even a small attempt at mitigating the effects goes a long way.

    Learn to Handle Criticism

    One of the most important skills you need is having nerves of steel. As an event planner, you organize the entire event and also lead the way for others. You need to be strong enough to handle client criticism.

    You need to be disciplined to ensure your team does what is to be done and they are not slacking off. If something goes wrong, you bear the brunt as the lead. You need to have nerves of steel to tackle situations when you or your team members get stressed out due to unforeseen circumstances.

    A lot of event planners start to buckle under stress. That’s when events go wrong, learn to handle criticism. Learn to keep calm in the midst of the storm because everyone looks up to you to make the event a success.

    Research About Event Planning

    Now on to the business side of being an event planner. Ā So go and research how many planners are in your area, what do they work on, and the potential clients in the area. If you live in an area people don’t have money to hire an event planner, you will only sit at home and be frustrated. After all, people won’t be able to afford your services.

    If you want to be a freelance event planner or a workforce member, you need to do your research first. When it comes to finding potential clients. figure out if you want to work b2b so business to business or b2c (business to customer).

    Get Experience

    Finally, you have all of your event planning skills in your pocket – you know your target group, your market, how many event planners are there in your area, and potential clients. However, it only matters when you have real-time experience. If you don’t have event planning experience, start by organizing small parties and events for friends. Do such events for free or for a small fee and then start using their references for your portfolio. Ensure you get enough footage like pictures and videos of the party you organized because that’s going to build your first portfolio item which you can then show to paying clients.

    If you have no event planning experience, start helping out here and there. If you can get an internship, grab it. You can learn a lot from an event planner that’s been in the business for a long time. Sometimes you start two to three months ahead and there is a lot of turning wheels you need to keep an eye on.

    Do your homework, make sure your basic event planning and organization skills are up to the mark before you start setting events. Otherwise, bad reviews are inevitable and that’s not good for your business.

    Choose Your Specialization

    It’s better to specialize in a certain type of event. For instance, you may plan a kids’ party. But if you are not into kids and have an “it’s another job” mindset, it will never be as amazing as planning a press event or a company party that you’re passionate about. You may initially take up all kinds of events in the beginning, but there will be a time when you’ll have to specialize.

    To make sure there are enough events for you to sell, it’s a good idea to specialize in a certain type of event. You can be a wedding planner, kids party planner, company event planner, or press event planner. If you have public relations experience, you could easily cross over into PR events. There are so many events like hen parties, and bachelor parties, you can even plan funerals.

    Specializing in an event sets you off from the crowd and it will help you sell that event without too much competition. Figure out if there is anyone that is doing the same type of event that you want to specialize in.

    Get a Website

    You need to get yourself a website, you need to start posting the reviews you get from friends, smaller jobs, or employers. Add photos, videos and other graphics that reflect the assignments you have taken up. People need visuals to rate an event planner.

    Documenting every step of the way is a good idea to get your event planning business off the ground. Create a workflow that fits you. Make sure your workflow has your clients face minimal or no stress. The same goes for you. Your workflow needs to be smooth, it should be a template to quick-start planning events.

    Conclusion

    Planning an event is a very big responsibility, everything depends on you and how you follow all the steps to make the event a success. Those who are venturing into event planning for the first time, need to research and be aware of how to plan properly, through this only one can become a good event planner.

    FAQs

    Which is the first event management company in India?

    Touchwood entertainment is the first listed event management company in India.

    What makes a person the best event planner?

    An event planner has to be organised, must have a keen eye, and have good observing sense.

    How much do event planners make?

    An average Event Planner with 4 to 9 years of experience makes INR 4 Lakhs a year.

  • What is Team Coordination? | Importance of Coordination in a Team

    Coordination is the essence of every successful organization. So what exactly is coordination? In simple words, it is a mechanism or strategy that enables different entities to work together. Coordination helps with maintaining and improving efficiency while striving for a common goal or target. Hence, team coordination is of utmost importance if a company wants to make it big.

    In fact, experts quip, “Ineffective communication and coordination is the primary contributor to project failure one-third of the time, and had a negative impact on project success more than half the time.”

    This post by StartupTalky gives you an overview on the importance of coordination and also provides some tips to improve the coordination levels in a team.

    What is Team Coordination?
    Importance of Coordination in Teamwork
    Importance of Team Coordination in Project Management
    Tips to Improve Coordination Between Team Members

    why is coordination important?

    What is Team Coordination?

    At times, the situation calls for individuals with differing backgrounds, perspectives, and thought-processes to come together. Ā It could be to fulfill a goal or an objective that is impossible to achieve single-handedly. How can this be done? Through coordination, i.e., the act of getting people to communicate and collaborate without creating chaos or confusion. Coordination has a major role to play in any successful team-based initiative.

    Importance of Coordination in Teamwork

    Can a business operate without employeesā€™ cooperation? No. A business entity can be viewed as the concoction of different groups and hierarchies. It’s imperative for these groups to work alongside each other in harmony to achieve organizational goals. Hence, coordination becomes a major driver of success and growth.

    Coordination is required among members of a team and between teams for the following reasons:

    Interlinking of Different Business Operations

    Importance of Team Coordination
    Interlinking of Variours Teams

    Coordination helps in connecting multiple business operations. The organisation members are able to connect business operations together to get the desired output. If there will be no interlinking of such business operations then there will be wastage of resources or maybe a delay in getting results.

    Suppose, what will happen if there is no connection between the HR Department and the Marketing Head? If the Marketing Head was looking for immediate results and in the meantime, the HR granted a leave. If HR has already granted leave then why will the employee wait for anything? This will result in the loss of required manpower and can cause delay to get results.

    The HR could directly reject the leave if was aware of such a requirement. But due to the absence of coordination, he wasnā€™t. The lack of coordination caused a delay in getting results.

    Each Department Focuses on Its Own Objectives

    In a business or an organisation, each person or department has its own objectives to meet. Each of the departments is concerned about its own objectives and goals.

    The objective of the organization is met with them while making informed decisions. Sometimes, the goals of the department get diverted from organizational goals. It will be too difficult to identify such incidents because of business complexity. If coordination is not present among both, then it can cause damage to the business goals.

    There are times when the objectives of one department cause the loss of others. In this case, also, it will cause damage to the business. The success and failure of one department are linked with the other. So the success of one department at the cost of losses to another will result in failures too.

    Socializing and Understanding Among Team Members

    Importance of Team Coordination
    Understanding Among Team Members

    There are different personal needs of every individual. Socializing are also the personal needs of every human being. The process of coordination helps in fulfilling such personal needs.

    The employees will be able to connect with other teammates. This will create a strong bonding among team. The process of coordination helps in building improved relations among teammates.

    Helps in Saving Resources By Avoiding Repeat Activities in Different Departments

    There may be several activities which are repeatedly performed in different departments. These activities cannot be identified if thereā€™s a great barrier between the departments.

    The repetition of such activities will result in more use of resources. If all the activities are performed in one place, then it will save resources. Suppose two different departments have hired a person for the same task which they require not much often.

    These tasks can be performed in one place and will save the extra expense of an employee. But this couldnā€™t be possible because of a lack of coordination. But if there was any coordination among them then they could have saved such extra expenses.

    Avoiding Conflicts Among Employees

    Conflicts inside business always end up doing multiple losses. They make the working environment disturbed for all. So they kill their time and also of the team members. Ā Every conflict results in wastage of time as well as resources. Any arguments/conflicts among the team members will cause damage to business resources.

    Conflicts must be avoided to create a healthy working environment among team members. Coordination helps in avoiding conflicts among them. The communication gap or misinformation is easily sorted out with coordination.

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    Importance of Team Coordination in Project Management

    Importance of Team Coordination in Project Management
    Importance of Team Coordination in Project Management

    Project coordination involves managing the day-to-day operations of a project, making sure the resources are aware of deadlines and tasks that they are responsible for managing meeting minutes, and so on.

    Coordination helps you better monitor and control each stage of the project to ensure it’s progressing according to your prescribed timeline. It helps in Collaborating with your team on the issues you encounter, to manage risks and the validity of tasks to the project’s current scope.

    Tips to Improve Coordination Between Team Members

    Here are some tips to improve coordination between team members:

    Conclusion

    Coordination is one of the most important activities in any business. It is present in every company but some do it right while others don’t focus much on it. The best way to ensure good coordination is to create and manage the proper structure of the company while giving the required power to people.

    If you have anything else to add, please let us know in the comments.

    FAQs

    What is team coordination?

    Team coordination is a process that involves the use of strategies and patterns of behaviour aimed to integrate actions, knowledge, and goals of interdependent members, in order to achieve common goals.

    Why is team coordination important?

    Coordination ensures that employees do not engage in cross-purpose work. Team coordination minimizes conflicts, wastages, delays, indifferences and other organizational problems.

    How do you bring coordination to a team?

    5 Steps To Successful Team Coordination or coordination in a team:

    1. Know the Big Picture.
    2. Create Well-Defined Roles.
    3. Foster Great Communication.
    4. Master Your Planning.
    5. Don’t Overdo It.

    What are the key elements of teamwork?

    Key elements for a successful team:

    • Communication
    • Commitment
    • Accountability
    • Delegation
    • Support

    Who is responsible for coordination between different teams assigned for project?

    Project Manager is responsible for coordination between different teams assigned for project.

  • How To Become A Freelance Writer? | 9 Tips to Follow

    Freelancing is on the verge of conquering industry upon industry, people are leaving their daily 9 to 5 jobs and are opting to become a freelancer. There are various reasons for this, flexibility, good payments, and freedom of work are some of them. Freelancing is one of the strongest career paths today. Writing is one of the most popular tracks in freelancing. This is a major reason behind the plethora of content writers you see today. A freelance writer can reach great heights once he or she perfects the art of writing and indulge themselves in the profession.

    There are several categories within freelancing writing one can pursue, copywriting, editing, blog writing, b2b writing, and others. Each one of them is an entire world in its own sense. The process of becoming a freelance writer within any of these mediums is all similar.

    A freelance writer with enviable skills can easily earn more than 50,000 INR per month in India, in fact, even more. In this article, we will talk about how to become a good freelance writer. So without any further ado, let’s get right into the business.

    Skills You Possess
    Choose a Niche
    Research About Your Niche
    Create Your Target Audience
    Build Your Portfolio
    Platform for Freelance Content Writing
    Email Marketing
    Seeking Clients Through Social Media
    Think Yourself as a Brand

    Skills You Possess

    Writing capabilities in terms of grammatical expertise and eloquence is the base requirement. If you don’t know the difference between they’re and there, and is completely clueless about vocabulary and grammar, no one’s going to be interested in your write-ups. Hence, having command over the written form of the language is essential.

    You can become a freelance writer in literally any field and industry. However, if you have some experience and expertise in a certain field, any piece you write related to that domain is a notch higher than writing on a totally alien topic. For example, if you have done some cool projects related to Blockchain and know the nitty-gritty details about it, the information you’ll impart via a Blockchain-based article will be a treat to read. So make a list of the domains and fields you have knowledge about. Go through your work experience, education, hobbies, other activities you follow, and the topics people reach out to you for advice as to the guiding star, this is how you build a niche. Figure out the overlap between a profitable freelance writing niche and your background and then work on it.

    Choose a Niche

    Once you have a list of topics and domains decided, it’s now time to prioritize them. There’s going to be one topic where your experience and expertise triumph over the other shortlisted topics. While the ability to write on multiple topics as a freelancer is appealing, establishing credibility in one genre is better for the writer and shows their excellence in the said genre. Keep in mind that it may take some time to figure out what your niche is. Don’t be afraid to start broad and then narrow down as you go.

    Research About Your Niche

    Once you get your niche, you need to research further. Make a comprehensive list of businesses, agencies, social media accounts, blogs and websites of the big shots in the industry dealing with that same genre. The more you know about the industry, the better off you are going to be. Having a list and the contact information of all relevant individuals in the niche get you through a long way.

    Create Your Target Audience

    Figure out the potential clients who will be interested in your write-ups. You should ask questions like who are they? Where do they live? How much money do they have? What do they do for a living? What do they do for fun? These are some indicators to get a good sense of the audience you want to market yourself to.

    The more you can get in their head and understand their needs, the easier it becomes to showcase your offerings. Say, you want to start writing about smart homes and connected devices. Make a list of all the products the target audience uses every day, it could be smartwatches, Ā audio systems, Alexa, and whatnot. It could be a connected car technology. These components fit in the smart home universe. Remember, the aim is to establish a deeper connection with the client.

    Make a list of the different resources the target audience uses to get information online. You want to be familiar with the concepts and the trending news in the niche domain chosen.

    So, when you are talking to potential clients you have to be upto date relevant and be speaking the same language as them. Then, start thinking about what can you write. It might be product blogs, trade magazines, trade publications, industry sites or others. You can start breaking it down, you should have a good idea of the types of people you are going to pitch.

    When it comes to the type of writing, there’s a long list as well. It could be a blog post, white paper, thought pieces, E-books, product launches, sales email. By the time you are done with all the decisions, you have a game plan and is ready to go. Now, it’s time to start putting the business into motion.

    Build Your Portfolio

    You can use Wix, Squarespace, or WordPress. WordPress is the most flexible and robust way to build a portfolio at present. New resources like Ghost are also coming up. You are not necessarily using this website to find a bunch of new clients, and it is probably going to take some time for you to rank in search engines. You need to build up content on this website where people can organically find you and your portfolio.

    One doesn’t need an over-the-top website. An about page, contact page, portfolio page, and an appealing homepage would suffice to start with. You may also have a rates page where you talk about your pricing. Adding a link to your blog is an awesome way of showing off your writing ability. You can have a handful of samples that shows the different writing types you are capable of offering as a freelance writer. The aim is to give people concrete visibility which sets you apart from other random freelance writers down the street.

    Platform for Freelance Content Writing

    After confirming your niche, one needs to look for platforms where they can get freelance content writing jobs. Sites like Contently, Skyward, and Freelancer are some platforms to seek freelance writing assignments. They have the best-paying customers and clients and you can reach out to them directly. Having some projects done on freelancing websites helps build a profile and makes it easy to find new leads.

    Email Marketing

    Sending a personalized cold email is a famous way to gain clients. It can be painful, tedious, and time-consuming, but it works overtime. It is truly a numbers game if you send 500 personalized emails even if it takes a couple of months to do it. Email marketing is surely one of the best form of marketing.

    You will get clients this way, and some of them will become permanent. The key to doing this correctly is not sending the same email template to every prospect. That’s not going to work. Take time to research, the person you’re pitching to, and send a personalized email. It’s a matter of dedicating some time. These people probably get dozens of emails. Do something to reflect the time and efforts you put in and that you respect them enough to send something personal beyond a blanket template email.

    Seeking Clients Through Social Media

    This is important for any freelancer and not just a freelance writer. LinkedIn is phenomenal for building relationships via social media. Most people don’t think about it, they overlook LinkedIn even though that’s where most of your target customers are hanging out.

    Identify organizations and companies that are looking for freelance content writers. This will also give you an idea of what’s in demand with respect to a content writer, what do the majority of the job descriptions seek, these details worth a lot.

    Go to LinkedIn and click on the jobs section; you might get lucky and find some engaging projects. If not jobs, connect with people who work for the type of organizations listed above. Look for people with titles related to marketing, content, or social media.

    Send a contact request with a personalized introduction. Under any circumstance, do not directly pitch for a job in the first introduction. Establish a connection, start a relationship, and get the conversation going. If you do this with enough people in your industry, there’s a good chance of finding some freelance jobs along the way.

    Think Yourself as a Brand

    You have to be consistent with your effort. Have a plan for building relationships and clients? Spend some time every single day on marketing your business, be it by sending emails, talking to people on LinkedIn, working on your website, creating content for yourself, meetups, or looking on freelancing platforms for projects.

    Think of yourself as a brand, a business that has to succeed on all frontiers. If you truly invest in yourself and treat the entire process akin to building a business, you will secure plenty of paid writing assignments over time. It will help transition from being unhappy to bringing in money accompanied by newfound skills to building a long-term content writing business.

    Conclusion

    After Covid-19, the freelance market of the world has increased tremendously, people have found their peace in this way of employment and are preferring it over a 9to 5 job. Freelance writers are in great demand and with the current ongoing trend, the demand is only going to increase in coming years.

    FAQs

    Do freelancers get paid?

    Freelancers get paid after completing their work.

    What does a freelance writer do?

    A freelance writer is a self-employed person who writes articles, copy and and other types of content.

    How many people are involve in freelancing?

    Approximately, there are 1.1 billion people who are freelancers.

  • Creating an E-commerce Website? Here Are the Vital Features That You Need

    Online markets have been in existence for quite a long time. But the pandemic made them a necessity more than a want.

    The e-commerce industry has seen significant growth over the past few years. This has encouraged many people to launch new startups in this field.

    To build an e-commerce platform, the most important base is a strong website. If the website is not well-made and easy to use, it will not bear the fruits of success.

    A successful website needs certain features to work well. These include- customer services, detailed information, reviews section, different payment options, and more.

    Overview of E-commerce Websites
    Most Important Features for E-commerce Websites

    E-commerce website Features

    Overview of E-commerce Websites

    Trade and commerce play a huge role in the global economy. Buying and selling have been in existence almost since the existence of mankind. Earlier it took place as barter and then the monetary values got involved.

    Now, the buying and selling process has modernized because of the increasing technology and digitization. This has given birth to e-commerce. It stands for electronic commerce. In simple terms, it is just the commerce happening over the internet.

    But how does this happen? The entire process happens over a website. It is a website that gives power to people to buy and sell products, services, and more, over the internet. For this, a person does not have to go to a physical store.

    E-commerce websites enable businesses to take orders, receive payments, manage to ship, and also provide services to the people at home.

    WIDGET: leadform | CAMPAIGN: undefined

    Most Important Features for E-commerce Websites

    The origin of a startup is based on an idea. The idea is to solve a problem and add value to society. There is no doubt that the problem of providing products and services at home has been solved. Some of the leading platforms like Amazon, Flipkart have done that already.

    But this does not mean that the newcomers cannot enter the market. To dive into this market and swim successfully needs strategic planning and its implementations. The basic and foremost strategy is to build an effective website that can help you earn a place in the market.

    Here are some of the important features that you need to add to your e-commerce website:

    Accessible Design

    The first thing you do before putting in the various elements in anything is to make a blueprint. The most important thing for any website is its design. Make sure to keep it simple and uncomplicated. Adding a lot of elements can be fun and attractive for some. But it is the road that can lead to further complications.

    Your design should be such that when a user enters your website, they access everything at ease. This makes for a great experience for the users. So, always remember to keep your design easy, uncomplicated, and user-friendly.

    Mobile Optimization

    E-commerce Website feature - Mobile optimization
    E-commerce Website feature – Mobile optimization

    Most people like access to everything at their hands. This means nowadays, they want everything on their smartphones. So, while developing a website make sure that it is suitable for mobile phones as well.

    It is important to include the feature of mobile optimization. The design must be adaptive for both computer and phone screens. Its size should change according to the screen size.

    Different Payment Options

    E-commerce Website feature - Several Payment Options
    E-commerce Website feature – Several Payment Options

    This is the most important feature that ensures the seal of a purchasing deal. Many people might like the platform and fill their carts with your products and services. But when they proceed to the checkout and do not find their preferred payment option, they wonā€™t make a buy.

    So, it is important to include various payment options as your feature. You can add options of debit and credit cards, Net banking, PayPal, COD, and more. If suitable, you can also add buy now and pay in the future plugins.

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    Descriptions and Shipping Information

    Another feature to include is product description and shipping information. It is important that every product or service has its description with it. It should also include the information of when is the shipment expected and extra charges (if any).

    This feature makes the website appear clearer and more trustworthy.

    E-commerce Website feature - Filter and Sort Feature
    E-commerce Website feature – Filter and Sort Feature

    This feature makes the process for customers easy and effective. Search enables the customers to look for products and services without endless browsing. The Filter ensures that they can target their exact preferences. Sorting helps them to select a criterion for listing.

    So, for a sorted user experience, it is important to include this feature.

    Cart and Wishlist

    E-commerce Website feature - Cart
    E-commerce Website feature – Cart

    It is the most important feature needed for an e-commerce website. This enables the users to add all their items in one place. Many websites ditch the e-commerce buttons of a wishlist, thinking that itā€™s not important.

    But it is necessary to think from the peopleā€™s perspective. There are times when a customer likes six items but they only have the budget for four. So, they like a place where they can keep the left items for some time and come back later for it. Thus, this is a vital feature for ensuring a good experience for users.

    Review Section

    This feature is helpful in many ways. It will help you to get feedback about what is good and what is not. It will help you know about customer preferences. The most important thing is that it will help the customers build more trust in your site.

    Since the customers cannot see the product as they do in a physical store, they gain trust with these reviews. It is like word of mouth that helps attract more customers. So, make sure to include the feature of user reviews on your site.

    Customer Care

    It means to be available for support for online customers. The whole process works over the internet. So, many customers have questions to ask and also face challenges with certain things.

    It is the duty of the platform to keep the customers satisfied. Including the feature of customer care service in your website shows your support and availability for the users. This feature can also gain new potential customers as they can get their doubts cleared.

    Discount and Offers

    E-commerce Website feature - Discount Feature
    E-commerce Website feature – Discount Feature

    This is an important feature, responsible for attracting more customers. Everyone loves when they get a discount while making a buy. You can add this feature to the homepage. So, when a person opens your platform, this is the first highlight on their screen.

    You can send certain offers and codes to users via various marketing channels. For this, you can add the feature of the code box at the time of checkout.

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    Conclusion

    The above-mentioned are the most important features to include in oneā€™s site. Apart from these another thing to keep in mind is to ensure that the website has a short loading time. Long wait snatches the interest of users from the platform.

    A great e-commerce website is not one that is too fancy. It is the one that gives a clear, accessible, and intuitive experience to its users. So, when you offer quality items and clear access to the website features, it is bound to take you towards the path of success.

    FAQs

    What are the important features of an E-commerce Website?

    Some main features of a Good E-commerce websites are:

    • Accessible Design
    • Mobile Optimization
    • Different Payment Options
    • Descriptions and Shipping Information
    • Filter, Sort, and Search
    • Cart and Wishlist
    • Review Section
    • Customer Care
    • Discount and Offers

    What are types of e-commerce?

    There are four traditional types of e-commerce:

    • B2C (Business-to-Consumer)
    • B2B (Business-to-Business)
    • C2B (Consumer-to-Business)
    • C2C (Consumer-to-Consumer)

    What are the best platforms to build an E-commerce website?

    The best platforms to build an E-commerce website are:

    • Shopify
    • BigCommerce
    • WooCommerce
    • Wix
    • Square

  • Tips For Investing in Startups to Kickstart Your Angel Investing Journey

    The article is contributed by Mitesh Shah, Co-Founder, Inflection Point Ventures.

    Start-up investing is an emerging and rewarding asset class. While many people are now starting to consider investing in startups, the initial journey can seem daunting and hard to navigate.

    If you are someone who is looking to kickstart your angel investing journey, here are some tips that could help:

    Tips for First-Time Investors

    Develop a personal investment thesis

    As an angel investor, you should work with a personal investment thesis. This thesis will help you identify the sectors and the kind of startups you would want to invest in. In this thesis, try to cover the following topics:

    • A range on how much you are willing to invest in startups.
    • What is your focus ā€“ impact generation or seeking substantial returns.
    • Identify sectors you are not comfortable investing in. For example, many angel investors who donā€™t support tobacco or alcohol consumption, do not invest in start-ups in those sectors.

    Do your research and think about it from the perspective of building a portfolio

    Once you have made up your mind about start-up investing, the first thing is to do is identify the right startups. Like most investments, it is imperative to do thorough research before investing in a startup. You can begin with identifying certain sectors that interest you or you can choose to be sector agnostic, but what is imperative is that you develop an understanding of the business, team and market before investing.

    Target opportunities that are scalable

    When looking for successful ideas to invest in, scalability becomes an important parameter to look at. Understand how large a problem they are solving; how many people will be able to adapt and benefit from the solution, what is their total addressable market size, how is the larger industry growing, etc.

    Deep dive into the team

    A startup idea is only as strong as the team that is going to execute it. So, when you come across an idea that excites you, gather confidence in not the founder/s but also the team at large. And how the founders plan to expand this team and hire good resources. At times people consider good pedigree – an IIT/IIM degree to be a good enough indicator of the founderā€™s abilities; this although might not be the best parameter at times so you may avoid following that convention.

    If itā€™s a tech-driven business do your tech research and validation rigorously. If needed, seek advice from experts. Pay close attention to how they aim to build that tech and the timelines they are working with.

    Donā€™t judge founders by their past failures

    Donā€™t go in with biases. Failed entrepreneurs come with a great degree for experience and understating of ā€œwhat not to doā€. Research suggests the learning process of opening and closing a business increases the chances of success.

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    Invest in what you know

    To begin your angel investing journey, it may be beneficial to start with industries and sectors that you are already familiar with or have some experience in. It positions you to better evaluate the start-ups when you are just starting out.

    Invest your time, knowledge and connects

    It ties into the previous point about investing in sectors you are familiar with because angel investing is about a lot more than just investing money. As an angel you can bring to the table your experience and expertise thatā€™ll help the start-up grow. At early stages, guidance and connects are as important to a start-up as money is.

    Invest with others/ Seek advice from others

    Start-up investing is a risky asset class, and when you are just starting out, it might be difficult to get everything right on your own. Try investing with other investors, either through privately formed niche groups or through angel investing platforms. Other like-minded angel investors will not only help you evaluate your investment decisions but also help you learn more about the ecosystem and further identify potential investment opportunities.

    Be prepared to invest for a long term

    As an angel investor you will most likely invest in a start-up at a very early stage. At times startups can take some time to reach a scale wherein you get substantial returns on your investment. So be prepared to have the money invested into the startup for a long time and be patient till the start-up reaches its full potential.

    Consider your exit opportunities at the time of investing

    While making a decision to invest, it is also important to consider what your potential exit options will be. There are multiple ways to get an exit ā€“ follow-on rounds by VCs, M&As, IPOs etc. Undeniably, at the end of the day, your success as an angel investor is defined by the returns you are able to generate and the experience you have gathered.

    Paperwork and legalities

    A term-sheet defines the framework of your investment agreement with the startup. While it is a non-binding document, it is still important to make sure you have carefully considered all the terms mentioned in it. You need to know that you have the right to negotiate the terms if they donā€™t suit you. In the beginning, it is advised to take inputs from more seasoned investors or SMEs (Subject Matter Experts) when negotiating the terms. The important points to consider in the term-sheet are:

    • Valuation of a company & ownership percentages
    • Investor Rights
    • Payment of Dividend
    • Liquidation Preference
    • Types of Shares offered
    • Dilution/Anti-Dilution

    Then comes the SHA ā€“ Share Holderā€™s Agreement. SHA is a legally binding document upon the investor and the company, and a precisely drawn term-sheet would help ensure that there are no sudden disturbances due to miscommunication while signing the SHA.

    Conclusion

    Overall, while navigating start-up investing can seem difficult in the beginning, access to right information and a like-minded community of investors can definitely make it an enriching journey. Joining an angel investment platform can help you get access to good startups, diverse network of experienced investors and help with legal documentation. This will enable you focus your time and attention towards finding the right startups for your portfolio, where you can contribute not only dry powder, but your time and professional experience as well.

  • What Makes for a Good Storyline? | 7 Tips You Need to Create a Bestseller

    Authors across the world have produced a lot of masterpieces and literary treasures, some of which people still revere after decades. The love for literature can be seen in these aspiring writers, as they can be seen dreaming of creating one of the masterpieces and getting the #1 bestseller achievement. An aspiring writer, always tend to wonder what it is that the popular writers got right, that so many other authors did not. The secrets that all the #1 bestsellers have.

    There are several techniques that authors follow to be inspired and write quality content. Some of these are unique, while some others are good generic practices that all aspiring writers should follow. In this article, you will learn some tips and tricks to write an excellent storyline. So, let’s get right into the business.

    Tips You Need to Create a Bestseller

    Outline of Your Plot
    Strong Opening
    Elaborate Your Characters
    Dialouge and Narrative Structure
    Build the Suspense
    The Timeline and Setting of the Story
    The Perfect Climax

    Outline of Your Plot

    Before starting the prologue or Chapter 1, you should have a clear idea of the novel outline. Ā Your story’s skeleton should consist of the overview of the story it includes the introduction, key events, main characters, and the climax. The overview has to be of perfect size, a summary of the plot that you should be able to tell in under a minute. If you can get this underway, it means you have all your basic plot set, which holds the entire novel together.

    Strong Opening

    To capture the reader’s attention right from the start a powerful or startling opening line or a gruesome or shocking opening sequence is needed. Remember that the beginning need not to be the first incident chronologically.

    In thrillers, the prologue usually begins with an ominous incident, the significance of which is known only later in the book. On the other hand, there is nothing wrong with a simple opening where you introduce all the characters one by one and set the mood or tone of the novel. Another way of beginning a story is to “start at the end,” and narrate the remainder of the book through flashbacks or diary entries. It makes it interesting and can keep the attention of readers till the end.

    Elaborate Your Characters

    It is always good to prepare a mental picture of the characters and their traits beforehand so that you can plan how you want to introduce them to the story. The protagonist and antagonist typically have an elaborate introduction sequence, sometimes with a backstory as well. Some characters end up being just names, while others have a deceptive nature to the reader until the end of the tale.

    Make your characters realistic; create qualities, strengths, and weaknesses that the readers can empathize with or find a connection with. Your pen and imagination have the power to create powerful and memorable heroes Ā and villains.

    Dialouge and Narrative Structure

    Some characters have become famous because of their nature, while others have become popular because of their punchlines. The dialogue is an integral part of stories that most writers underestimate. Conversations can reveal a lot of details about the plot and especially about the nature of the characters in the story.

    A closely linked factor is the narrative format of your story: first-person or third-person. If you want the reader to explore the story from a particular character’s point of view, use the first-person narrative. If you want to talk about multiple storylines or wish to reveal information to the reader that none of the characters knows, the third-person narrative is better. This format, however most of the time forces you to write using formal language.

    Build the Suspense

    The build-up of the plot and the escalation of all the storylines towards the finale form the biggest chunk of the book. You must keep the reader guessing at all stages of the book; that is what keeps the story flowing. How much information you reveal to the reader and the characters in the book defines the suspense.

    Using plot twists is the best way to surprise the reader, but you need to get the timing right. Note that plot twists can serve as humour elements too. A comedy of errors or a hilarious mix-up is effective in engaging the reader.

    The Timeline and Setting of the Story

    The time period of your story is very important, the setting depend on the time period. It can be restricted to a small, possibly imaginary, town, or it can also span across several countries. It can be in the contemporary settings, during the Second World War, or in the year futuristic world. The setting can be put into action only after analysing the time period.

    You need to know enough about the location you choose, it includes the people, their culture, local events, and others. You can choose to tweak science and history a bit to make your book more entertaining, but do not go overboard.

    The Perfect Climax

    One of the most important thing that an author ponder on is how to write an ending that will blow the reader’s mind away. If you want a final plot twist, you must lay enough clues in the story to lead up that perfect plot twist. If you had to pick one segment of the story to give maximum attention to, it is the climax. There are various types of endings you can give your story, and you can select the one that fits in most naturally.

    For a mystery novel, tie up all the loose ends and present a clean solution. If you want to continue the book in a “Part 2”, you can either write the climax in such a way that this novel is a standalone book or by preserving some essential information for the sequel, it depends on your writing skills.

    Conclusion

    The storyline is the heart of your book, and getting it right is paramount to your novel’s success. You have the freedom to use your creativity in any way you want, and you can use the best writing apps as well. Ultimately, the effort you put in must make the book the best one possible.

    FAQs

    What are the three things that make a good story?

    The three things that make a good story are:

    • Characters
    • Conflict
    • Resolution

    Who is the world’s highest-paid author?

    Dan Brown is the highest-paid author in the world and his net worth is $178 million.

    Who are the three most famous authors in the world?

    The three most famous authors in the world are William Shakespeare, George Orwell and J.K. Rowling.