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Tag: 📖 Learning

  • Win Win Negotiation Skills Entrepreneurs Need To Be Successful

    Negotiation tactics are very important for the business’s success. One must hone the skills of negotiation to build the company at a higher level. Many businesses miss out to recognize the importance of negotiation skills for any further deals to make. It might be a small business, startups, big firms, individual contractor, all need to develop this skill to have a win-win situation between two parties.

    “The most difficult thing in any negotiation, almost, is making sure that you strip it of the emotion and deal with the facts. And there was a considerable challenge to that here and understandably so.” – Howard Baker

    To be a good negotiator, one must try to step into the shoes of other business owners and you will know that almost everything involves negotiation. And in business, sometimes you are a buyer and sometimes you are a seller. So, knowing the technique of negotiation make you survive in the market.

    Negotiation Skills Entrepreneurs Should Know
    Conclusion
    FAQs

    Negotiation Skills Tips

    Negotiation Skills Entrepreneurs Should Know

    Here are 8 negotiation techniques that will make your business more efficient and you will succeed as a confident negotiator.

    Get Prepared

    As a first step, we must be prepared by making in-depth research of the dealer. When you know the inside and outside of the parties involved, it will be helpful for you to make proper negotiations. This holds good even if you are at the other end of the table and want to buy the products or service. The main thing is to have a good idea about the dealer and be clear of what you want out of the arrangements. Without the preparation and research, if you sit for the negotiation, you are half-lost. So make a good research of the party and know their strengths and weaknesses.

    Have patience and listen to the party

    Some of the negotiators talk too much endlessly and does not make a good deal. This is the worst kind of negotiation, be patient, listen to the party, understand their needs and make a wise arrangement. A good listener is a good negotiator. Dominating the conversation will not fetch you any information, so listen attentively.

    No egos and have balanced emotions

    Negotiation Skills | Keep the negotiation professional
    Negotiation Skills | Keep the negotiation professional

    Be confident enough as you have done your background research on the party and most importantly have a check on your ego. When are free from your ego and emotions, you can then think objectively and make a flexible deal. To be a successful negotiator, one must think well even in a stressful situation and find common grounds. During the arguments be neutral and control your thoughts and emotions. Don’t be rigid in your arguments, have a calm mind and think productively which helps both of you. ‘Keep the negotiation professional’.

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    Ask right questions

    Spend some time asking questions to the dealer. This may give you some useful information which helps in negotiations. Don’t be afraid of asking questions as nobody knows everything. According to the deal, you can ask some relevant questions to the dealer:

    • What is the best pricing you can offer?
    • How can you assure me that your product or service suits me?
    • Who are your competitors and how best is your product compared to them?
    • What is the time period of our deal?
    • What is the benefit of our deals?

    Negotiate optimistically

    When you are negotiating, have faith and compassion. It is commonly observed that in negotiations we tend to become defensive as we wish to make the best deal in our favour. But if each other know their strengths and weaknesses, it will be easy to come to a win-win situation. Feel comfortable to set the deal and think optimistically rather than turning off the deal. In this case, both can have mutual benefits.

    Make several offers

    Instead of one offer, make several offers till the party is satisfied. Make two or more offers, so that the party gets more options to accept the negotiation. If a lot of confusion arises between both of you, you can even contact a third person to have a perfect deal. This will not only make the negotiation easy but also gives a creative solution.

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    Walk away if the negotiation fails

    The negotiation will be succeeded if you have a positive mindset. Don’t think negatively during the negotiation. Always stay neutral. You tend to close the deal if the party does not accept your negotiations and has a lot of negativities during the arrangements. Always know that you will make hundreds of negotiations in the future. And keep the space open for many opportunities. Don’t force the party to make a deal that does not have any benefits to you.

    Close the deal with confirmation

    Negotiation skill | close the deal with confirmation
    Negotiation skill | close the deal with confirmation

    At the end of the deal, know how to end the negotiation. It is important to make a recap of the whole arrangement though the negotiation has succeeded or failed. If the deal happened so is a success confirm it and make appropriate follow-ups through emails or letters. Do not leave behind any confusion.

    Conclusion

    Negotiations are part and parcel of any type of business. Negotiating is a kind of CHESS, you should be wise enough to answer instantly at the right time. For this to happen you should have made proper preparation and have the skill to present everything well. It is also important to stick to your own principles so you don’t compromise on the deal. Be ready to give concessions but do not go low. If you know the technique of striking a bargain then don’t think of perfections.

    FAQs

    How to keep the negotiation professional?

    Always have a good and optimistic arrangement with the party. Choose the right words and be strong in making the deal. If the deal is professional then the relationship between you and the dealer can be taken forward.

    What is negotiation?

    Negotiation is a strategic deal that resolves an issue that will be acceptable to both parties. It finds the common ground and benefits each other.

  • How To Reduce Customer Friction in Your Startup?

    Customer friction is caused when the customers feel hesitant to buy goods or services or are unhappy with your company. Friction is something that slows down the customers or they lose interest in your products and services. Friction arises because of numerous flaws in the product or design or delivery. This will lead to poor customer service. ‌‌

    An example of customer friction is that when you are a software company and the app developed by you is in trouble. The company’s website has chat-bots which instantly gives solution for the problems faced by the customers. A chatbot is a solution for customer friction which otherwise need the customers to make a call to the customer care who does not respond quickly. ‌‌

    According to the survey, 84% of customers say the experience a company provides is as important as its products and services. ‌‌

    Friction can be reduced when you make the business as easy as possible for the customers. This is when you will increase the customers and retain the existing customers.‌‌‌‌

    How to reduce customer friction?
    Conclusion
    FAQs

    How to Make Customers Loyal?

    How to reduce customer friction?

    Understand the customers’ need

    In the business, As a first step, understanding customer’s problem is important. Know who your buyer is and what they are looking for. When you identify the customer’s needs and understand what they are expecting from you, then you will reduce the customer friction and make their experiences will be more pleasing.

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    Happy employees create happy customers

    A business is successful when they have happy employees. It is the responsibility of a business to prepare their employees well so that they can clearly explain and brief it to the customers. This type of clear human interaction will reduce frictions. The employees will also know the skill to satisfy the customers with theirs needs. When the employees are made comfortable they in turn help in increase the business by understanding the customer’s needs. When the employees are happy, the customers are also happy. ‌‌

    Improve customer Interaction

    Improving Customer Interaction
    Improving Customer Interaction

    Lack of customer interaction is the major cause of customer friction. If you want your customers to invest more in your company or brand, then it is important to improve your company’s website, train your employees well as they represent your company’s pride and create informative posters. Whether it is online or offline, provide a helpful platform for your customers to directly interact with your products or services.‌‌

    Maintain quality design

    It is important to have a well-oriented and clutter-free website or an interface that will allow customers to show more interest in your company or brand. When you have a clear web design that equalizes the market standards, half of the friction is reduced. When a company provides many useful ways to stay connected with your product like pamphlets well-informed websites, et cetera this will ease the customer friction and increase your business. ‌‌

    Use persuasive content

    The content must be clear and to the point, where it is a website or social media or blog. Proper content will answer many of the questions of customers and they show more interest in your brand or product. There must be a clear call to action that will lead the customers to additional information or the opportunity to buy your products. ‌‌

    Answer the questions before they ask

    Having good communication with the customers is the best way to serve your customers well. Communication means having real-time notifications about the purchases, shipping and follow-ups to make sure that your customers are satisfied with your products or services. Also, place a FAQ section on your website which will help the customers to know more about your company and its products. ‌‌

    Taking the feedback

    When people buy your products, ask them for their valuable feedback. Feedback also give insights into the customer’s satisfaction. You can improve your weak points and serve your customers with the best quality of products. You can also make customers interview to understand their pain points and try to fill those gaps. In this way, you can remove the customer friction completely and focus on building your brand/company.

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    Follow-up with the regular customers

    Regular customers are the best source to know about the hindrances created by any of your products/services. On this basis, you can improve the defective areas and reduce customer friction. If you follow up with these customers they will identify the changes exactly and also help to boost the word of mouth marketing.

    Conclusion

    Customer friction lowers your brand and also affects your business. Following the above strategies will help your company to have happier and loyal customers. When a company or business reduces the frictions, it will decrease your unnecessary investments in other things, increase the purchasing base for your customers.

    The digital world has eliminated the global barrier, thus it is important to make your process and information as simple as possible to reach out to a more customer base. Simplifying the content and website is very important as research says that- “78% of customers cancelled their orders/purchases because they were not happy with the company’s services”. So invest in good website design, train your employees well, attract more customers by reducing customer friction as ‘word of mouth marketing is still a KING’.

    FAQs

    What are the other frictions that reduce your customer base?

    The friction varies from business to business. Some of the common customer frictions are poor website quality, poor customer service, limited business hours, negative reviews, improper content and many more.

    What is the difference between customer friction and poor customer service?

    Customer friction is caused by flaws in the product or its process. This will reduce the customer base. Whereas poor customer service is a service that does not meet the customer’s needs. An increase in customer friction leads to poor customer service.

    How to improve customer satisfaction?

    There is a number of ways to track your customer needs and serve better. Few are taking feedback, conducting customer interviews, create customer journey maps etc.

    ‌‌

  • Neuromarketing For Startups: Guide To Grab Customers | Tools Used In Neuromarketing

    Long ago neuromarketing was limited to multinational companies with high budgets. But today any business irrespective of size and budget is capable of using human brain waves to increase the profit.

    Neuromarketing is also called consumer neuroscience. This helps in understanding the consumers’ behavior by reducing the uncertainties. Neuromarketing studies the human brains to manipulate their behavior. It was earlier considered as a frontier science but from the past few years it has reinforced the market with the capacity to boost the consumer base.

    Even after knowing its potential and some ground-breaking results, there lies numerous questions in the minds of people like, Is it worthy? How to implement it effectively? What are all the tools required? The solution lies in understanding the technology and knowing its utility even in the future.

    Neuromarketing sways the human brain by understanding the process behind it. It is now a buzzword as every business uses this science to influence consumers’ choice and understand their preferences.

    How to hook new customers by applying Neuromarketing?
    Tools Used in Neuromarketing
    Examples of Neuromarketing
    Conclusion
    FAQs

    About Neuromarketing

    How to hook new customers by applying Neuromarketing?

    Attract Customers using Neuromarketing
    Attract Customers using Neuromarketing
    • To promote a product or service just have content that taps the emotions of the customers’ so that your content goes viral. According to ‘Buzzsumo study’ 100 million and more content is driven by the emotions of people. It is observed that people tend to share more when they get emotionally connected with the content.
    • If you want to grab the attention of the consumers then it is advisable to place some important information or ads on the left side of the page. This is because a study says that consumers tend to read the webpages in the ‘E’ or ‘F’ manner.
    • To excite the customers use anchorings like pop up with some audios or videos through an alert sound. So that the buyers do not miss out on the offers. The word FREE also excites consumers to pay attention to that product or service.
    • Did you know that humans gravitate toward fear or danger. For example, if you put in the sales may end soon, Out of stock, limited offers and so on. It is driving your customers for an immediate action.
    • The Corporates can also concentrate on improving the webpage design, colour and other features which attracts the consumers to visit the site and also go through it.

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    Tools Used in Neuromarketing

    Tools used in neuromarketing
    Tools used in neuromarketing

    Neuromarketing is a science to understand the psychology of consumers’ buying activities and preferences. This consumer analysis can be made using Brain scanning and psychological tracking.

    The two foremost tools for scanning the brain are fMRI and EEG.

    • Functional Magnetic Resonance Imaging measures the changes happening in the brain’s blood flow to examine the consumers’ behavior.
    • Electroencephalogram is the only technique which measures the brain activities directly at the speed of cognition. The fMRI technique is expensive to use.

    Psychological tracking is a cost-effective tool, this measures eye movement and other activities.

    • Eye tracking is associated with visual attention along with the emotional response of the customers.
    • Facial tracking includes various aspects like heart rate, respiration rate and the skin conductivity.
    • Biometrics will measure the customers’ engagement with positive or negative responses.
    • Facial coding is used to measure facial expressions like fear, anger, happiness, surprise and so on.

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    Examples of Neuromarketing

    • Paypal  – It used brain waves to understand that customers’ relied more on speed than safety and security. For this, Paypal implemented an effective ad campaign.
    • It is observed that customers’ brains work on various factors. Once a researcher’s team tested by serving Pepsi and coca-cola with fMRI technique. The response from the customers’ was plain and harmonious. On the other hand when they recognized the brand the brain started responding with various emotions and expressions.
    • Another team of researchers served the customers’ with three different wines with different price tags. Though the taste of the wines were the same but because of the different prices, the customers’ started thinking differently. The researchers could observe two different calculations before and after the prices were displayed. This experiment was again based on the fMRI tool.
    • Creating good web design will lead to quality improvement and trustworthiness. This was observed when customers were asked to rate a webpage on the quality and trustworthiness. Irrespective of time taken by different customers’ maximum of them were driven by good web design. The creative design will attract the customers and also increases the confidence within the customers’
    • Everyone of us likes to listen to stories, doesn’t it? The London University compared the audio and video for a combination of movies/ books and the result was only 15% of people showed the internet in the video part and there was shockingly more votes for audio/podcast. By listening to the audio the emotions of the customers’ rose.
    • Yahoo – Yahoo wisely used neuromarketing technique that is EEG. It showed happy faces in enjoying mode in a 60 seconds TV Commercial. This was a ad campaign to stimulate audience across the world. The neuro test was successful as emotions and different thoughts attracted more audience into search engine.
    • Hyundai – This company too used EEG technique of neuroscience to examine its designs. Hyundai allowed audiences to get to know about their car prototypes. By this the company understood the choices of audiences and changed some external design according to audience preferences.

    Conclusion

    Neuromarketing is a fast flourishing technology to rocket our profits by analysing the brain’s response to various factors. It gives insights into consumers’ brains based on their preference and choices. Neuromarketing is a scientific dimension to the marketing and advertising part.

    FAQs

    How useful is Neuromarketing to understand consumer Insights?

    Neuromarketing helps to understand consumer’s emotions, behavior and cognitive states. This technology complements traditional marketing.

    What are the applications of Neuromarketing?

    The common applications are Branding, Advertising, product testing, packaging, Point of sale and many more.

    What are the techniques used in neuromarketing?

    Techniques used in Neuromarketing are:

    • Eye tracking
    • EEG or fMRI
    • Facial coding
    • Mind tricks
    • Sensory marketing.

    When was Neuromarketing introduced?

    The research in this field started back in the 1990s. Gerald Zaltman is the first person to begin the experiments associated with neuromarketing.

  • How To Market Your Photography Business- A Guide

    Marketing strategy is an important factor when you set up a business. It aims at targeting potential consumers and convert them as our customers for our products/services. The marketing strategy of a business consists of the company’s value, target customers, branding and other essential elements.

    Marketing mainly concentrates on selling more products to more and more customers and it is also important to know about our customers’ needs. Marketing a product/service is a continuous process with some innovation in a regular interval.

    It is vital to strategise your marketing which aids you to bring in more profit to the company and at the same time attract more customers. According to a study conducted by Coschedule, the company’s having market strategies are 313% more likely to report success in their marketing campaigns.

    An effective Marketing plan and profitability are the key factors for a successful company. It is marketing that elevates your business profile.

    Stepwise Guide for Marketing Your Photography Business
    Step 1. Identifying the target market
    Step 2. Create a customer database
    Step 3. Engage in social media
    Step 4. Go referral spree
    Step 5. Collect and add testimonials on your website
    Step 6. Get featured in photography blogs
    Step 7. Display your photographs on photo-sharing sites
    Conclusion
    FAQs

    How to market your photography business

    Stepwise Guide for Marketing Your Photography Business

    Step 1. Identifying the target market

    As the first step, you should choose a niche that suits your interests. There are varieties in photography like food, wedding, Wildlife, family portrait, celebrity shoot etc. Having a clear picture of your niche makes it easy to target a market. Be passionate about whichever niche you have chosen and concentrate on marketing. Do not go behind too many things as it reduces your efficiency.

    After a while, expansion of business is important, for example- if you choose wedding photography as a profession then have connections with other vendors that cater services to the bride. This is one of the marketing strategies to attract more customers.

    Step 2. Create a customer database

    Once you stick to a specific niche, now you should start creating a customer database. This database may consist of all your past and present customers. This kind of database helps your business to track the customers. These days photography has boomed as people are obsessed with capturing their memories. So get along with the customers, send follow-ups and offers some discounts to your regular customers. This way you can increase the customer database and also expect high returns.

    Many Softwares are helping you to create an effective customer database like CRM, Nutshell, Insightly etc. These Software have features like tracking your expenses, creating questionnaires and also can sync with other apps.

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    Step 3. Engage in social media

    Increase your network through social media platforms. On social media platforms, you can showcase your activities and other projects. Especially for the photography business, creating a website or adding their creative shoots on social media will help in expanding the customer base.

    In case of creating a website, add your achievement lists, for making the website even interesting add professional photographs and also give the insights about behind the shoot in a separate section called blog. Inculcate Search engine optimization (SEO) which allows your website to be ranked well on google searches.

    Social media marketing also includes Pinterest marketing to serve your photography business with more value.

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    Step 4. Go referral spree

    Word of mouth helps the best marketing tool for the photography business. Ask your customers to leave feedback after getting the service or write a review on social media about your work. By this referral marketing technique, you can guarantee the customer to offer discounts or some free services in future.

    When you kick off your business, it is always your friends, family and close relatives who support you throughout your journey and they act as the biggest source of referrals.

    Don’t forget to extend your gratitude to all those who make referrals.

    Step 5. Collect and add testimonials on your website

    Testimonials act as a trust factor between you and the customers. The testimonials are proof of your achievements and a catalyst to increase the customer base. Maintain originality and don’t hesitate to ask for testimonials from your happy and satisfied customers. This is the best way for a photography business to promote its activities and get more leads.

    Nowadays blogging has become a popular way for promoting your business. All your efforts will be paid off when you get featured on various platforms and blogs. This can be the best marketing strategy for a photography business, as customers can get a glance at your work and skills. In this way, you have a solid presence on social media. Do not limit yourself to few platforms, rather spread your work and expand your business. This will yield high profits.

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    Step 7. Display your photographs on photo-sharing sites

    This is the best time to expose your photography skills, do not be reluctant to post your work on various channels. Here are some of the photo-sharing sites that can improve your photography business: Photobucket, Pixabay, Behance, Exposure, 500px etc. It is observed that many photographers have increased their customer base by using the Flickr site. Sharing your work on such platforms will increase the number of Customers and get genuine feedback. This also makes an effective marketing strategy for the photography business.

    Conclusion

    There are always ‘N’ number of ways to make marketing strategies. And it is always recommended to make a lot of experiments to improve your business plans. Above are few tips to inculcate in your business, always make trial and error and see which suits you. There is no one size fits all approach. Few things work for some businesses and some does not work. Marketing for the photography business is a huge component which when implemented properly leads to high profitability.

    FAQs

    How to market a photography business?

    Photography business marketing tips:

    • Identifying the target market
    • Create a customer database
    • Engage in social media
    • Go referral spree
    • Collect and add testimonials on your website
    • Get featured in photography blogs
    • Display your photographs on photo-sharing sites

    What are the photo sharing platforms for promoting photography business?

    Some of the best photo sharing platform to promote a photography business are:

    • Flickr
    • Pinterest
    • Facebook
    • Instagram
    • 500px
    • DeviantArt
    • Fotoblur
    • Tumblr
    • Behance
    • Twitter

    How to increase the photography website speed?

    Compress the image size without altering its quality; if the image’s size is large, it will hinder the website’s loading speed; Inserting YouTube videos and add images in JPEG format.

    Is it important to have blogs on photography websites?

    Blogging is a kind of content marketing, which is the best way to showcase your photography skills and build a more client base.

  • Should You Invest In Cardano? | Cardano Investment Analysis

    Cryptocurrencies are digital currencies that are not backed by real assets. As a result, they are traded between willing parties without a middleman, and their transactions are recorded on digital ledgers.

    Investors from all over the world have equal access to the global crypto market, which is open 24 hours a day and 7 days a week. As a market that is only a decade old, it has the potential to grow by a factor of ten over the next few years. As the first blockchain platform built on peer-reviewed research and developed using evidence-based methods, Cardano is a proof-of stake platform. It combines cutting-edge technologies to provide decentralized applications, systems, and societies with unparalleled security and sustainability.

    About Cardano
    Features of Cardano
    What makes Cardano unique?
    Cardano’s Efficiency
    Cardano – Pros
    Cardano – Cons
    Should you invest in Cardano?
    Conclusion
    FAQs

    About Cardano

    About Cardano

    Cardano is a public, decentralized, and open-source blockchain platform.

    Cardano promotes peer-to-peer transactions with Ada cryptocurrency. Founded in 2015 by Ethereum co-founder Charles Hoskinson, Cardano strives to bring about a positive impact on the global world.

    The advancement of the undertaking is directed and managed by the Cardano Foundation situated in Zug, Switzerland.

    Although Etherum and Bitcoin are the dominating cryptocurrencies in the market today, Cardano has several advantages over both.

    Cardano was supported through an underlying coin offering.

    The money appeared with a market cap of $600 million. Before the finish of 2017, it had a market cap of $10 billion and arrived at a worth of $33 billion momentarily in 2018 preceding an overall fixing of the crypto market dropped its worth back to $10 billion.

    Features of Cardano

    Cardano Cryptocurrency
    Cardano Cryptocurrency

    Cardano addresses Bitcoin’s extreme energy consumption while challenging Ethereum’s fascinating smart contracts.

    Cardano plan standards planned to refine issues looked at by other digital currencies, like versatility, interoperability, and administrative compliance.

    Cardano uses a proof-of-stake convention named Ouroboros as opposed to Bitcoin and Ethereum which utilize confirmation of work protocols.

    Proof-of-stake blockchains utilize altogether less energy than evidence of work chains.

    In February 2021, Hoskinson assessed the Cardano network utilized 6 GWh yearly, under 0.01% of the 110.53 TWh utilized by the Bitcoin network as assessed by the University of Cambridge.

    Cardano is viewed as the greatest verification of stake cryptographic money in 2021.

    Inside the Cardano stage, Ada exists on the settlement layer. This layer is like Bitcoin and monitors exchanges.

    The subsequent layer is the calculation layer. This layer is like Ethereum, empowering brilliant agreements and applications to run on the platform.

    Cardano’s savvy contract language permits designers to run start to finish tests on their program without leaving the incorporated improvement climate or sending their code.

    What makes Cardano unique?

    Cardano strives to conquer the two main issues in the cryptocurrency market namely :

    1) Bitcoin is excessively lethargic and rigid.

    2) Ethereum is not secure or scalable.

    IOHK (Internet Online Hong Kong) declared an association with the Ethiopian government in 2018 to convey their innovation in an assortment of businesses all through the country.

    In April 2021, IOHK and the Ethiopia Ministry of Education reported designs to dispatch a character and record-saving framework on Cardano for the country’s 5,000,000 students.

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    Cardano’s Efficiency

    The huge edge for Cardano is its case for energy productivity.

    Cardano’s Ouroboros evidence of stake calculation is multiple times more proficient than Bitcoin’s mining framework.

    In energy utilization, Cardano’s greater rival is Ethereum.

    Ethereum isn’t fiercely energy-productive as things stand now.

    All things considered, Ethereum plans to move to a proof-of-stake calculation, like Cardano, that would immeasurably advance its position.

    Proof-of-stake sidesteps the figuring serious mining measure.

    Bitcoin and numerous other customary digital currencies utilize a proof-of-work convention.

    This is the place where miners utilize powerful design cards or trained computed gears to speculate convoluted numerical puzzles. Those with greater computing power win a greater amount of the riddles, and accordingly, get a greater amount of the mining reward.

    Rather than spending gigantic measures of processing power and natural assets to keep up the blockchain, verification of-stake conventions can utilize a digger’s tokens as the security that makes the framework work.

    Cardano’s Ouroboros was novel in being one of the primary fruitful confirmation of-stake conventions that made a practical choice to evidence of-work tokens. Evidence of stake has become so charming that even Ethereum may change to it in the coming months.

    “The client with the most marked digital currency will assemble the most blocks and get the most block award. On the off chance that they continually reinvest these rewards, they will have an always developing level of the stake and could ultimately control the whole stake,” Poston says.

    A few idealists demand that without verification of work, digital money doesn’t tackle a significant number of the decentralization issues it was expected to address.

    Be that as it may, with figures like Tesla (ticker: TSLA) CEO Elon Musk pushing energy utilization worries to the cutting edge, confirmation of stake just acquired a significant round of free exposure. What’s more, Cardano’s Ouroboros seems as though quite possibly the most convincing verification of-stake alternatives accessible.

    Cardano’s Ouroboros seems as though quite possibly the most convincing verification of-stake alternatives accessible.

    Cardano – Pros

    • Reliable team
    • Environment friendly
    • Peer-reviewed technology
    • Decentralized
    • Efficient

    Cardano – Cons

    • New crypto
    • Several competitors
    • Ambitious scope of work
    • Lack of engagement

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    Should you invest in Cardano?

    All cryptographic forms of money are profoundly unstable and speculative ventures.

    Cardano’s cost has been unstable, both this year and the prior years So potential financial investors ought to know about that and think about Cardano as a component of a more extensive broadened digital money portfolio.

    Cardano venture could bode well, as it has a genuine opportunity to remove a piece of business from Ethereum.

    Cardano may not be an overnight achievement, yet it has sufficient legitimacy to stay a top-level rival in crypto.

    Cardano has a solid group behind it and has effectively accomplished a great deal – the undertaking in Ethiopia is a noteworthy certifiable utilization of blockchain innovation.

    As we’ve seen, Cardano is more modest and more youthful than Bitcoin, which brings the two benefits and dangers.

    What’s significant is to comprehend what those are and gauge them against your requirements.

    Only put away cash you can stand to lose, and attempt to adjust the dangerous idea of the crypto venture by building a differentiated portfolio.

    Conclusion

    When it comes to cryptocurrency trading be it Cardano or any other cryptocurrency, it’s clear that it’s a speculative investment that has the potential for high returns. In its infancy, the market is still a young one. We must be prepared for ups and downs, including some dramatic swings, when investing in something new. In terms of market capitalization, Cardano is one of the top 10 most valuable cryptos, with a market capital of $84 billion today.

    FAQs

    What is Cardano?

    Cardano is a proof-of-stake blockchain platform that facilitates peer-to-peer transactions with its internal cryptocurrency.

    When was Cardano founded?

    Cardano was founded in 2015 by Charles Hoskinson.

    Is Cardano worth investing?

    Cardano being among the 10 most valuable cryptocurrencies with market value of about $84 billion is worth investing in.

  • How To Get Your Business Ready For A Seasonal Sale?

    In the world of business, earning money by selling your products can be called an ultimate goal. Every mall, electronics store, supermarket, automobile store has this thing called seasonal sales.

    So the thing which exactly happens in these sales is, it comes at a particular time. During these, which usually happen on special days Or during the clearance phase, the products are of low prices. Less pricing is a strategy that would attract more customers.

    Seasonal sales also include sales at a particular season, where products specific to that season are available. Some discounts are also available. The offering of discounts is in such a way that the store doesn’t get any losses. The profit margin is marginal on individual products during these sales. But the perk is, it attracts more customers because everyone loves reduced prices.

    There are some specific and well-crafted strategies everyone must be aware of before starting seasonal sales. These tips would help the stores and shops make more profit by attracting more customers. Let’s discuss these tips one by one.

    How to Prepare your Business for Seasonal Sale

    Start planning before the season hits
    Planning the budget for seasonal Sales
    Promoting the seasonal sales
    Season focussed marketing strategy
    Inventory Management according to demands
    Setting minimum order quantity
    Quick shipping and good delivery speed
    Clear return and exchange policy
    Creativity in orders
    Watch your competitors

    Conclusion
    FAQs

    Tips for seasonal Business

    Start planning before the season hits

    It is the most important thing we should keep in mind before starting our sales. Procrastination shouldn’t be an option. A beforehand planning would help just as a hurried plan might ruin the wholesales. The plans regarding the budget, the profit margin, consumer choices, the advertising of new brands, percent of discounts are also the key points to focus on. It is to increase the human workforce are all planned.

    The business plan should be in such a way that everything would be ready during the sales. It reduces pressure as well as doesn’t let mistakes happen. It ensures that enough time is there to jot down a perfect strategy that would lead to more fame and extract a good amount of profit.

    Planning the budget for seasonal Sales

    Plan the budget for seasonal sales
    Plan the budget for seasonal sales

    It is important because the sale should in a way that the store or shop doesn’t go into a loss. Also as more customers would come during the sales, more workforce is required. Seasonal sales might need to employ more salespeople. Especially in malls and apparel stores, where people often flock during sales, more salespeople would help them choose according to their whims.

    The budget should also include the expenses for the banners, advertising, and the salaries of the extras during sales. The budget should be such that everyone is satisfied and still a good amount of profit is made.

    Promoting the seasonal sales

    Seasonal Sales
    Seasonal Sales

    Promotion is the key that brings more customers. The promotion of the sales includes using certain advertisements be on the television or newspaper, passing out flyers, making posters, banners outside the shop, etc. The most strategic part is to put a little information regarding the discounts and the list of new products in the advertisement that lets more people know that there is a sale going on.

    People should also have a good experience when they come to the store. Customer is also a crucial agent of advertisements. A happy customer would bring in more customers or visit the next time. It improves the trust of people in the store or brand.

    Season focussed marketing strategy

    Technology helps in chalking out strategies. The making of diagrams of the profits and losses forms to know about customer experiences. It also provides knowledge about customers having an online transaction option. The usage of net banking is essential to enhance performance. The budget should also be a part of the marketing strategy. It is the overall strategy.

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    Inventory Management according to demands

    Knowing the demands of the customers at a specific period or season is the key to attract them. For example, if it’s a winter sale, more winter clothes are the key. A wide range of choices is also crucial. It leads to a customer liking many products and buying them at once.

    In the case of the automobile industry, this is also important. If customers start preferring a specific type of vehicle, that model should be available in plenty. Also, different color choices of the model should be available. It is because everyone does have a specific liking. Good quality products without any defects should be present in the inventory.

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    Setting minimum order quantity

    The possession of a particular number of products brought together helps to make a good profit and sell off more items. Also, it manipulates the mind of the customers into thinking that they have been offered low prices. It can be explained with an example – a handkerchief that costs $10 can be sold for $25 for 3 . This will be beneficial for both the store and the customers.

    Also, this helps small businesses in online stores. They provide reliable prices and have a minimum order quantity that lets them sell their products well.

    Quick shipping and good delivery speed

    It is applicable in online businesses. A quick delivery speed keeps the customers happy. During seasonal sales, the number of customers increases. Good shipping speed avoids cancellation and makes people but more. The delivery men should be polite. Also, the company should work to set up sound networks of delivery. The experience of the customers is what matters the most.

    Clear return and exchange policy

    It is something that provides confidence to the customers. They can rest assured that if a product purchased doesn’t meet their needs, they can return it within a stipulated period. However, this might be confused and damaged products would be returned. So these policies should be clear.

    A stipulated period of 7-14 days is mandatory for return and exchange. The product shouldn’t be damaged while returning. Also, the bill must be present to prove that the customer bought the product from that specific shop. Items such as inner garments and hygiene products shouldn’t come under return policy until it’s proven that they are unused.

    Creativity in orders

    Being creative is something that draws attention. Providing trinkets and gifts is an example of this kind. Some stores also provide flowers and drinks to their customers. It ensures satisfaction among them. They would like to visit the store more often. Also, creative advertising catches the eye of the audience. They come in large numbers.

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    Watch your competitors

    It will prevent entirely making a plan similar to the competitors in the market. Also, one should utilize the strong points. Thus, having a favourable plan is mandatory. It enhances competition and further improves the quality of seasonal sales.

    Conclusion

    Business is just like a game of capturing more and more customers. The brand that is the most creative with its sales gets more profit. These strategies mentioned above can help a brand grow and strive. Knowing about the needs of customers and keeping them happy should be the key objective. After that, good planning, advertising, and recruiting are crucial for a good business.

    At present, when there are many brands, only some can capture the hearts of people. A well-thought strategy is the main thing that is necessary for doing. So, one follows it and executes it properly even a smaller brand would be able to compete with the great brands. Also, a good watch should be kept on the competitors and try to learn from their good points. It will help in a rise in fame and profit.

    FAQs

    What is seasonal promotion?

    Seasonal promotions are special offers, discounts or limited edition products that are occasion specific or season specific.

    What are examples of seasonal businesses?

    Some of the seasonal business examples are:

    • Rakhi Business
    • Kite Business
    • Fire crackers Business
    • Woollen Clothes business
    • Raincoat business

    What are seasonal products?

    Seasonal products are the products that are available in the market during a particular seasons or periods of the year only and are not available during another period.

  • Investing in Foreign Stocks: How To Invest In Foreign Stocks From India?

    There’s a well-said quote that “When money speaks, no one in the entire universe checks the grammar”. That’s true, no doubt, and the whole world acknowledges this truth right now.

    If in the foreign stock market, the value of the share a person has bought increases, the financial profit out of it gets unimaginable hype. Just as an example, Warren Buffet, at the age of 11, had made a profit of 40* times than his investment. His twenty-dollar investment turned into 800 dollars at the end when he withdrew his earnings. One needs to put money into the perfect hole if they want to surpass other competitors in the league. For that, the best place is no doubt ‘The Stock Market’.

    Why Should We Invest In Foreign Stocks?
    How To Invest In Foreign Stocks?
    How Much To Invest In Foreign Stocks?
    Taxation On Foreign Stocks Investment?
    Conclusion
    FAQs

    How to trade in foreign stocks from India?

    Why Should We Invest In Foreign Stocks?

    Have a look at your daily life. You will notice, being in any corner of the country, you have been using so many international brands. Some brands are so integrated into our lives that it becomes difficult to imagine a day without them.

    Products of Apple, Google, Amazon, Netflix are flourishing every second. These international brands have competitive skills and can never let their brand down. By imagining the growth and market value of these brands, you can imagine how gigantic these foreign stocks can skyrocket your investment.

    As these brands have significant uses in our daily life, and if these uses gain a massive profit for you, then it will be a wiser choice to invest in these foreign stocks.

    How To Invest In Foreign Stocks?

    How to invest in Foreign Stocks
    How to invest in Foreign Stocks

    Stock investment is now becoming easier. Many agencies and brokerage houses are flourishing all over the world. The international stock investment is now connecting its network everywhere.

    One crucial thing everybody should understand before going with any brokerage house. Many scams and fraud brokerage houses are also settled in the market. The bunch of crooks can engulf your entire investment and leave you with a considerable loss.

    If you are new in stock investment or have little knowledge, then you might have heard about Karvy Stock Broking. This particular brokerage house did a massive scam of 2800 crores. It reduces the trust of many future investors. The Karvy investors bear a massive loss due to this scam. The vital lesson we have learned here is “to follow the big names”. It would help if you stuck with a big brokerage house providing these services with years of experience. They must have delivered a decent amount of profit to its wide users.

    You may belong from any country, some big brokerage houses must be there. Do healthy research, talk to different experiences in esters, and then decide on a good brokerage house. In India, some big names include ICICI Direct, HDFC Securities, Axis securities. They have tied up with foreign brokerage houses. You can prefer any one of these. Some of the most famous apps are Groww, Upstox, and Angel Broking.

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    How Much To Invest In Foreign Stocks?

    This is one of the most asked questions. The direct answer of this amount varies with the brokerage house. Along with that, your investment amount also decides your transaction rate. You could see the compulsory transaction charges in almost every brokerage house. The transaction charges, at a minimum, can be from 5 US dollars to $15. At maximum, it can go up to $50 in the same cases. It depends upon the stock you choose from which country. You can invest in more than 18,000 stocks as per their presentation and explanation webinar and seminars. Better it would help if you compared all the charges and commissions of all the brokerage houses.

    Another necessary charge that can be applied to cases of investment is the currency conversion rate. Depending on the company’s stocks based on which country, the invested money needs to be converted according to the currency of the respective country. A small charge may be there by the respective banks for the currency conversion. Some mobile apps also provide investment services with similar, maybe lesser charges, and some have zero transaction charges. The services which provide zero transaction charges will ultimately cut some commissions from the investment returns.

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    Taxation On Foreign Stocks Investment?

    If you’re gaining some capital gain, then taxation is no doubt terminology. You must be paying taxes to the respective country’s government, according to Indian taxation rules. Whatever investment you are going to do that will be according to the debt fund taxation. The fund withdrawal is divided into 2 set periods.

    • Short-term capital gain
    • Long-term capital gain

    The taxes will vary with your withdrawal period.

    One is the short-term capital gain which is a period of fewer than 3 years. If within your investment period you withdraw your amount before 3 years, then taxation will be according to your tax slab. According to the 2nd withdrawal rate, if you withdraw your amount after 3 years, the taxation will be 20 percent with indexation benefits. This will be your long-term capital gain. One important thing you should consider is that if you’re gaining some dividends in such cases, it will be added to your normal income. You have to pay tax for it; it will be more complex in such cases. You need the required documents to show the government for significant clarifications.

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    Conclusion

    These were the most prominent ways to invest in the foreign stock market and extract your money from it. But with the international market, the probability of risk rises too and that, in turn, raises the chance of heavy loss if the Sensex crashes. Keeping the risks aside, the above three ways are the easiest ways to access the International market from India without mobilizing. The ways are all legit and can serve the right person with the tastiest profits.

    To make more significant profits from foreign stocks, one must, in the first place, do a complete analysis of how the market there is and what can be the possible pros and cons of investing in their market. The amount of profit from the share market always lies on how good a person can foresight the market value keeping in mind all the current affairs. That’s the best way to make profits from the equity market.

    FAQs

    Can we invest in foreign stock markets from India?

    Yes, we can invest in foreign stock markets from India.

    How much can we invest in foreign stocks from India?

    As per the RBI notification in the Liberalised Remittance Scheme (LRS), an Indian resident individual can only invest up to $250,000 in foreign stocks per year.

    Yes, Stock trading is legal in India. Securities and Exchange Board of India (SEBI) manages the rules, regulation and supervision of the stock markets in India.

  • Customer Testimonials: Importance | How To Get Customer Testimonials?

    When people direct a market campaigning, they do testimonials for brand awareness and its growth and reputation. Thus, they gather fresh leads to drive the conversions. These testimonials by the customer are the critical marketing strategy that a person can use to reach their targets. Various study reports support as a “Word of mouth” that these testimonials have much power under their belt to boost a market campaigning.

    One survey suggests that AC Nielsen polled around 35,000 customers, 85% of whom wholly or may trust the suggestions of friends and family, and 65% value opinions were posted online. Another study research arranged with almost 2000 respondents shows some facts that around 90% of the consumers have shown their trust upon these online reviews for determining the quality of a local business. Every visitor shows up their reason why they checked in to your site, and that very thing will help market campaigning.

    What are Customer Testimonials?
    Importance of Customer Testimonials
    Creative Ways to Get Customer Testimonials
    Conclusion
    FAQs

    How to get Customer testimonials?

    What are Customer Testimonials?

    Personal anecdotes or quotes by the previous customers help in proving that how a product or service helped them overcome an issue are known as customer testimonials. Mostly, these testimonials by customers stay pretty short in length as well as nature. They are composed of fewer sentences, and they stay precise as possible. It’s better to gather as many testimonials as possible for the sake of improving that trustworthy goodwill online. The more people will give their testimonials merrily praising the product’s effectiveness, the more it will bring the brand goodwill.

    Proving the effectiveness and efficient working of their products and services is one thing each company wants, irrespective of any industry on their respective website. It is the reason these testimonials by the able customers are so important to get a reality check. It is the essential way of proving to the new customers what the previous customers felt at the fulfillment of their needs.

    Importance of Customer Testimonials

    So, as we have discussed earlier the basics of customer testimonials, now it’s high time to know why it is so important to have these testimonials. Let’s look at some reasons for it:

    1. The growth in sales, and the brand’s reputation, are all triggered by the testimonials the customers provide. And if the company gets positive reviews, then it gets helpful to establish the durability and reliability as a business for new people.

    2. These reviews help the business set a broad and wide reach with faraway clients who will benefit from the industry. It will ultimately project the versatile characteristics of a company which will make them believe that this company can fulfill their wants or needs.

    3. When the testimonials of the last customers get posted on the website, then like a magnet, it attracts and speeds up the company’s purchasing process. The benefit of these positive reviews is their availability whenever a fresh customer is on a hunt to know more about its products and services.

    Creative Ways to Get Customer Testimonials

    Ways to get Customer Testimonials
    Ways to get Customer Testimonials

    There are many ways by which a company can get as many customer testimonials. But it is reasonably necessary to know which of these processes are much creative to get the attention of fresh customers. Hence, below are the innovative ways to get those positive customer testimonials:

    • Word of Mouth Reviews
    • Testimonial Swap
    • Make it Worth it for customers to provide reviews
    • Unleash the power of Review Sites
    • Arrange a Giveaway Offer
    • For a successful transaction, make a review prompt
    • Testimonials from Social Media

    Word of Mouth Reviews

    One of the most attractive ways of fetching fresh customers is word of mouth, and these testimonials are an essential part of it. When prominent reviews and feedbacks are given in the form of testimonials by the customers, these tactics help to attract customers who are pretty fresh and came for the first time.

    Testimonial Swap

    How amazing, thrilling, and breath-taking it would be to receive testimonials from other brands! If that’s amazing, how about gifting them a little smile? To get some genuine testimonials, you can also avail of services from different brands and leave them some fantastic reviews. As a return of gratitude, you can also encourage them to do the same.

    Make it worth for customers to provide reviews

    One other way for achieving the reviews of the customers is putting some lucky draw to gain something. Any prize can be allotted to the people like any voucher, coupon or any discount.

    There are a variety of options available for people, but it’s also limited to their imagination. Customers are given incentives for the engagement of brands which creates a testimonial loop for the fresh customers. There should be some loyalty system that can fetch the customer testimonials easily.

    Unleash the power of Review Sites

    Many customers leave their feedback on popular review sites such as Capterra, TripAdvisor, etc. Although it might be tough finding the customers behind the reviews, with little hard work, you can do this easily. After that, you can initiate a healthy relationship with the customer, which increases your probability of attaining a 4* or 5* review.

    Arrange a Giveaway Offer

    Another attractive way to make those fresh customers is by making some exciting special offers. These offers can be like some limited-time discounts. These discounts will be given to those new customers for the products and services. All the company will ask is for the customers’ testimonials in return. For example, if a new app is being launched then it is an excellent idea for a free trial offer. All the fresh customers need to write a positive review or testimonial in return for this offer.

    For a successful transaction, make a review prompt

    With the confirmation page, the process of online purchase must not end. Instead, this Page can be used for asking the customers their feedbacks or reviews.

    This objective of achieving review can be done by asking some questions like what more do you expect to be done by them to make it more efficient. Or else another question can be there like why us other than anyone else. What makes these questions best is that these are not limited to a simple yes or no rather, this question reveals some reality with their feedbacks.

    Customer Testimonials from Social Media

    Customer Testimonial on social media
    Customer Testimonial on social media

    The most effective way to gain reviews is by using and being constantly active on social media. It not only helps the company in the growth of sales but also becomes the prime platform of gaining many fresh customers by the customer testimonials of the previous ones.

    In Facebook, it helps to add reviews with the help of their review tab. All the company needs to do is opening a page there, and it will bring more reviews for the products and services. To get positive reviews in the form of Endorsements, LinkedIn is one of the best place. YouTube is another great place where a company can put up videos of their product and services, and with that, people can add as many reviews.

    Google is also an excellent platform to get some positive reviews for new customer’s testimonials. Though there is no specific way for having thoughts on Twitter, that doesn’t imply that it can’t be done. People can still post their questions regarding the company’s products or services, and by saving the tweet, it can be showcased back by answering them.

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    Conclusion

    Thus, these are some of the best creative ways of having customer testimonials by which more fresh customers can be included. A company can add more customer testimonials for its website or any platform by following these few ways. It will, in return, increase their new customers.

    The need for these customer testimonials is to add that pinch of trust for their products or services. It helps the company reach greater heights and gain many new customers.

    FAQs

    Why are customer testimonials so important?

    Customer testimonials are important for building up your on-line business. It helps greatly in converting visitors to your business website to customers.

    How do you present customer testimonials on social media?

    Customer testimonials Can be shared on home page of social media accounts like Facebook, LinkedIn, and Twitter. They can be shared in the Instagram story, and other social media platforms.

    What are the ways to Get Customer Testimonials?

    Different ways to get customer testimonials are:

    • Word of Mouth Reviews
    • Testimonial Swap
    • Make it Worth it for customers to provide reviews
    • Unleash the power of Review Sites
    • Arrange a Giveaway Offer
    • For a successful transaction, make a review prompt
    • Testimonials from Social Media

  • What is Headhunting in Recruitment? | How Headhunting Works?

    "If you’re doing well, you’re a target, nobody’s interested in you except how you can be of use to them." – Richard Grant

    This is the way headhunting works. You may have heard a lot about recruiting agencies and  may be familiar with how an agency works. But what is headhunting? Let’s take a look into the plan of action of headhunting.

    About Headhunting
    What Do Headhunting Agency Do?
    How Headhunting is Different From Recruiting?
    How Does Headhunting Work?
    Types of Headhunting Agencies
    Who Are The Clients of Headhunting Agency?
    How do They Choose Employee?
    Conclusion
    FAQs

    Headhunting Tips and Tricks

    About Headhunting

    Headhunting is the process of finding potential candidate for a specific job profile. It is done mainly by a group or a company or an individual, commonly called headhunters.

    What Do Headhunting Agency Do?

    They headhunt the perfect candidate for a particular position, that may be an executive post in a company such as CEO or MD. These candidates may be happy with their current position and may not be looking for a job change. But that’s where a headhunter starts his job. They get paid by their clients to hire the most experienced and valuable and coveted candidate.

    How Headhunting is Different From Recruiting?

    What does a recruitment agency do? They post job offers, receive thousands of resumes for that 1 vacancy they have posted, shortlist the resumes to find the best ones, call for interviews, finalize the ideal candidate for their vacancy. This actually works while looking for employees or workforce who are responsible for the production or providing services that the company offers to the public. While in the case of headhunting, they select candidates without posting offers or letting them know they are  being hunted. If someone is found apt for a position, they are directly contacted, offered the top positions they are capable of, without adhering to the antiquary.

    After successfully headhunting the quintessential, they are directly contacted and offered the job they might have not thought about yet. Headhunters are given the complete authority to find the perfect candidate by their clients.

    How Does Headhunting Work?

    Headhunting

    Head hunters may concentrate on a particular area of interest. They gather the details and connections among that particular area and maintain a good relationship with the clients by constant communication. They attain success by choosing the right candidate for the right position. For that, they have to ,maintain a proper course of action for the hiring process.

    They must have the data of most talented professionals in their area of interest or for whom they are working for.

    They must have the ability to match the perfect person with the clients requirements.

    Matching doesn’t mean matching the resume which fulfills clients requirements, they must be proven talents, else which can make a black mark in a headhunters profile. For that, these candidates must go through thorough assessment before letting know about the new opportunity.

    Although the whole process is completely different from recruitment, both target in matching the job with the ideal candidate. Headhunters focus on the job and select the ideal one whereas recruiters select the one from a batch of qualified candidates.

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    Types of Headhunting Agencies

    • Contingency basis headhunting agency
    • Retained headhunting agency

    Both are headhunters with different mode of operation, with their own advantages and disadvantages.

    Contingency Headhunting Agency

    They focus on completing the work of hiring first and then getting paid. They are cheap compared to retained headhunters, but gives more assurance as they have to get paid for what they do. They are forced to complete the whole process within a time limit to keep up a good position in this field.

    They would be completely prepared about the candidates and the job offers they get to be filled. So they will be ready any time to fill the vacancies notified the client companies with the available data in their hands. Presenting the best candidate in front of their clients make them win in this field and they work hard to ensure the same.

    Retained Headhunting Agency

    Retained headhunters, on the other hand, are paid at first before finishing the hiring process and after the whole process is done, they get complete payment from the clients. They assure more possibilities of getting the ideal person for the vacancy reported.

    Both these agencies work on a global basis to stand out from the crowd. Choosing the best available person according to  their client’s requirement is not a simple task. For that, they have to check globally and pick the perfect one and communicate with them.

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    Who Are The Clients of Headhunting Agency?

    Their clients are the companies who are in search of exemplary talented professionals for their company. They can’t go through a heavy recruitment process for filling the position of a CEO or MD. So they go to the headhunters to get the perfect employee for their firm.

    Next is their responsibility to find the best match for the particular job. They are already connected with a large circle of employees and firms based on their experience in this field. So that makes it easier for them to choose the correct one for each assignment.

    How do They Choose Employee?

    In this contemporary world, everyone is living or working digitally, which makes the job easier for headhunters. Digital life exposes the work, industry, skills, and professional experiences and many more details a headhunter would look for while headhunting the candidates. Direct Communication and giving value to everyone’s time makes one a good headhunter. Choosing a high level employee to a low profile job and an employee to a high job profile are the mistakes headhunters can make if they are not completely prepared about the candidate and the job profile.

    Headhunters research about the candidate’s profile available or with whom they are connected with and choose the perfect one. Candidates or top level employees who update and showcase their skills are more likely to be shortlisted by the headhunters. Also, active network and good communication skills are add-ons to get captivated by the headhunters.

    Conclusion

    Thus headhunting is not about hunting fresh or new faces. It’s all about selecting the expertise for a top level vacancy and convincing them to join the new company through genuine and clear cut communication.

    FAQs

    What does headhunting mean in recruitment?

    Headhunting is a specialist recruitment service which attracts candidates with relevant work experience for a particular job profile.

    Is a headhunter the same as a recruiter?

    Headhunter searches and finds the potential candidate and recruiter is involved in the the hiring process of the candidate.

    What does a headhunter do?

    Headhunter hunts for candidates to find exclusive or highly skilled candidates for top-level positions.

  • 7 Mistakes Entrepreneurs should avoid having a Successful Pitch or Presentation

    When you don’t have the necessary funds to launch a startup, the pitch you deliver to potential investors can make the difference between a dream come true, and one swept under the rug.

    At the end of the day, the profitability of your business idea weighs the most in the eyes of an investor, but that’s not the only factor you should keep in mind. Affluent investors can receive dozens of great business opportunities every week, and in that case, it’s the quality of the presentation that balances the scales.

    Although not all of these common Powerpoint music mistakes are fatal, it’s always a good idea to be prepared. You only have one shot at a good impression, and you don’t want an otherwise brilliant startup idea to go to waste because you didn’t put a few extra hours into your pitch.

    Making Unsolicited Pitches
    Having a limited understanding of your business scope
    Not bringing enough materials
    Lackluster presentation skills
    Avoiding the hard questions
    Making the pitch without a demo
    Forgetting to follow up
    FAQ

    Making Unsolicited Pitches

    Perhaps every entrepreneur out there has fantasized about bumping into an investor in the elevator and convincing them in 60 seconds that their idea is the next big thing. Unfortunately, this is the kind of elevator pitch is one-in-a-million scenario that creates unrealistic expectations.

    In reality, you should never deliver a pitch without the investor agreeing to a meeting in advance. Investors are busy people, and they won’t be impressed by your gesture.

    Even if you send an unsolicited pitch via email, in 99% of cases, it will go straight to the spam folder, so, to be safe, schedule a meeting to make sure your pitch is actually heard and given the investor’s undivided attention. Also, always make sure you prepare a short and engaging pitch about yourself.

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    Having a limited Understanding of your Business scope

    The worst moment to realize the flaws in your business model is during a pitch meeting. No matter how great your idea sounds in theory, the moment when an investor realizes you don’t know your product or the market, they will lose interest.

    Not doing your research comes across as unprofessional and lazy and raises red flags – especially if you don’t have prior experience. So, know your audience, know your product and your competitors because you will 100% be asked about these things and, it will help you deliver a perfect pitch.

    Not bringing enough materials

    Even if your pitch is short and sweet, the investor will still need documents to back up your claims, provide a roadmap of business development, and expand on aspects that couldn’t be addressed in the meeting. Even if the investor did not request anything specifically, you should still bring with you the following:

    • Business plan
    • Executive summary (a shortened version of the business plan)
    • Revenue forecast, cash flow, and operational expenses
    • Resumes for members of the upper management, detailing their experience in the field.

    To be extra safe, you should have both digital and physical copies of these documents. Referring to them during the sales pitch shows that you’ve done your homework and that you’re committed to your idea.

    Lackluster Presentation Skills

    A great presentation can’t turn a bad business idea around, but it can prevent investors from losing interest and forgetting your file in a drawer. Unfortunately, not everyone was endowed with Steve Job’s charisma and presentation skills, which is why the more you rehearse at home, the better.

    You never know how you react under pressure, so having a script to refer to can save you from all those umms and errs that weaken your language and make you sound like an intimated high school student. It also helps to keep your presentation short.

    Don’t show up to the meeting with a 50-slide presentation filled with large blocks of text. Instead, keep the number of slides to a minimum, use appropriate Powerpoint music, and focus on strong, impactful visual elements. The PowerPoint presentation should include key figures and ideas, but you’re the one controlling the conversation. In general, 15 to 20 minutes is more than enough for the investor to understand your business idea, so structure your pitch around this interval.

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    Avoiding the Hard questions

    Pitch meetings aren’t a one-way street. The investor won’t give you a yes or a no after you delivered a monologue. On the contrary, expect lots of questions and don’t panic if they insist. What makes your idea so special? Why should they pick you out of all people? Can you guarantee that customers want your product? It’s just a way for them to check that you know what you are talking about and clarify some of the things they should know before going into business with you. And, when the questions inevitably get tough and touch on vulnerable points (after all, no business is immune), don’t react negatively.

    By working with you, investors are taking a risk, and it’s normal for them to address problematic topics. If you become too defensive, rude, or downright avoid the questions, you may come across as unprepared or difficult to work with. Instead, try to answer difficult questions as transparently as possible and avoid the scripted “I’ll get back to you on that later.”

    Making the pitch without a demo

    You can’t make a demo for every business idea under the sun but, if your business model allows it, then creating a demo, even a rough one, can make your pitch more persuasive – especially if it’s technology-focused.

    First of all, a demo helps investors visualize concepts that may sound difficult in theory. And secondly, it shows that you already have a capable team and that you went the extra mile and that you’re serious about your product.

    Many times, investors meet up with entrepreneurs who only have an idea but don’t believe in it enough to put it into practice, so a demo helps you stand out from the crowd.

    Forgetting to follow up

    No matter how the pitch meeting went, you should take the time to send an email to the investor, thanking them for their time. Avoid generic, template messages and personalize your follow-up in a way that’s relevant for your interaction. It’s a small gesture, but it goes a long way.

    FAQ

    How long is napkin elevator pitch?

    A good elevator pitch should last no longer than a short elevator ride of 20 to 30 seconds.

    What is a common mistake of pitching?

    The most common mistake you should avoid while pitching is not overloading your audience with information.

    How do you end a pitch?

    A great way to end a pitch is to ask them to join you on a mission or journey.