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  • Case Study: The Story of SoftBank and its Vision Fund

    SoftBank Group Corp. is a Japanese global conglomerate headquartered in Tokyo. The SoftBank Group has launched SoftBank Vision Fund, the world’s biggest innovation-centered investment finance, with over $100 billion in the capital. In this article, we have discussed SoftBank, Its Vision, Its Stakes Possession, SoftBank Vision Fund, SoftBank’s Vision for India, Its Marketing Strategy, etc.

    SoftBank – About & Vision
    SoftBank – Softbank Vision Fund
    SoftBank – Name, Logo & Tagline
    SoftBank – Marketing Strategy
    SoftBank – Stakes Possession
    SoftBank – Growth
    SoftBank – Yahoo Japan Story
    SoftBank – Vision for India
    SoftBank – FAQ’s
    SoftBank – Conclusion

    SoftBank – About & Vision

    SoftBank Group Corp. is a Japanese global conglomerate headquartered in Tokyo. SoftBank was positioned in the Forbes Global 2000 list as the 36th biggest open organization in the world, and the second biggest organization to be traded in Japan’s open market after Toyota. The organization possesses stakes in top technology companies like Softbank Corporation, Softbank Vision Fund, Arm Holdings, Fortress Investment Group, Sprint, Alibaba, Uber, and many more.

    SoftBank – Softbank Vision Fund

    Softbank Vision Fund is the world’s biggest innovation-centered investment finance, with over $100 billion in the capital. The organization is known for its initiative backed by originator Masayoshi Son. The Fund presently has its fingers in broadband, fixed-line broadcast communications, web-based businesses, innovation administrations, media and advertising, and other domains.

    Softbank Vision Fund

    SoftBank Vision Fund is a subsidiary of the conglomerate Softbank Group. The company is specialized in growth capital and social impact investments that revolve mostly around software companies. Mostly, the funds are invested in latest technology sectors such as IoT, AI, Robotics, Communications Infrastructure, Telecoms, Computational biology, Biotech, Cloud Technologies and Software, Consumer Internet Businesses, FinTech, and Mobile Apps. The Fund is designed in such a way that it’ll be a catalyst for technology progress in anticipation that it will expand SoftBank’s capabilities, accelerating progress towards SoftBank 2.0.

    It also aims to invest in businesses and foundational platforms that SoftBank believes to revolutionize and innovate the world tomorrow.

    SoftBank – Name, Logo & Tagline

    The SoftBank logo derives from Kaientai, a maritime exchanging organization that existed during the end of the Tokugawa shogunate.

    Softbank Corporation Logo

    SoftBank – Marketing Strategy

    The Softbank group uses an effective and smart “4P” marketing strategy to carry out its business across multinational market places. Here’s a description of the 4P model used by SoftBank:

    Products & Services

    SoftBank deals in money, broadband, semiconductor structures, innovative administrations, broadband and what not. Softbank also has prominent wind power plants, sun based power plants, and other energy generation sources. It is a conspicuous player in the residential telecom showcase in Japan which incorporates closeout of mobiles, repaired line telephone utilities, and information correspondence.

    It additionally furnishes benefits in relationship with Yahoo Japan and “IBM Watson”, a cell phone application grown together with IBM Japan. As an internet provider, Softbank offers different choices, for example, web through optical strands. Softbank Air is a popular web information administration service offered by the behemoth. Before the dispatch of iPhone 4s, SoftBank was the main iPhone bearer in Japan.

    How To Create An Best Web Marketing Strategy For Your Startup
    There’s never been a better time for a startup. While many people out there aresaying that the market is saturated, there are too many “fakers,” and that youcan’t make money online, several individuals are out here killing it every day. So, why is it that some people have no trouble making a ton 

    StartupTalkyPiyush Mishra

    Price

    SoftBank offers a different worth which includes evaluating arrangements to serve its purchasers the best. Softbank has a wide extension to utilize these strategies exceptionally, particularly in the telecom and web advertisement domains where it has different contenders like NTT and AU. Since Softbank faces escalated rivalry from its rivals, its valuing relies on relative market evaluation. Softbank uses packaging techniques to value its administrations higher. This concentrates the vast majority of the purchaser’s excess. It likewise uses worth estimating and has presented worth packs that are charged for the value conveyed.

    Place

    SoftBank works through wholesalers and retailers far-reaching the nation over. Through its wide chain of selective stores in shopping centers and commercial spaces, it draws in a wide range of buyers. Being a multi-year old organization, Softbank has a huge shopper base. It reaches its customers through online store and cell phone applications. Softbank additionally finds certain stores on its site that use staff proficient in English for engaging with its global clients.

    Promotion

    SoftBank has top-notch advancement systems in its advertising mix to connect with buyers, particularly those concerning mobiles. It gives complimentary wireless internet at different bistros and railroad stations to expand its perception and image in the market. It gives enormous accentuation on ads distributed in papers, magazines, online networking, and TV.

    Here are the other Ps to make it the promoting blend of Softbank.

    People

    The Softbank gathering is profoundly reliant on its workers since they are the main impetus of the organization. They have utilized 69154 representatives since 2016. The essential spotlight is on worker commitment. And this in turn ensures client satisfaction. Since the well-being and security of the workers legitimately impact their exhibition, the organization guarantees the equivalent.

    Procedure

    Procedures in Softbank are completed in the most transparent manner. The website helps clients purchase the administrations they are interested in. The point-by-point guidance makes it simpler to perform the purchase procedure. Moreover, client care services assist the client with all sorts of questions and challenges.

    Grofers – Bringing Grocery at Your Home in a few Clicks
    Company Profile is an initiative by StartupTalky to publish verified informationon different startups and organizations. The content in this post has been approved by the organization it is based on. As we move forward in the world of modernization, we tend to scroll the screensof our mobile pho

    StartupTalkyRishabh Rathi

    SoftBank – Stakes Possession

                    SoftBank's Stakes Possession
    Company Name Total Shares Hold(in %) Company Name Total Shares Hold (in %)
    Ola 30 Slack Technologies 5
    Renren 42.9 WeWork 80
    InMobi 45 Zhongan Online P & C Insurance 5
    Hike 25.8 Compass 22
    SnapDeal 30 AUTO1 Group 20
    Fanatics 22 Wag 45
    Improbable Worlds 50 Katerra 28
    Paytm 20 Cruise Automation 19.6
    Oyo 42 Ping An Insurance 7.41

    SoftBank – Growth

    SoftBank had a solid beginning to the 2020 budgetary year, accomplishing income increments over the entirety of its portions and including Yahoo Japan as a combined backup to its business. This brought its income to about „1.16 trillion.

    The buyer section i.e. the center business of SoftBank, expanded its income to around „658 billion, an expansion of over „22 billion. The portion’s telecom administration incomes expanded by 6.2% year on year to „528 billion. Inside its telecom administration incomes, versatile interchanges income expanded by „23 multi-year on year to „423 billion, with the addition essentially credited to increments in cell phone supporters and a decline in the month to month limits for its Ultra Giga Monster Plus plan. This plan isolates handset installment and administration charges.

    Softbank’s Growth Over The Years

    SoftBank revealed it had 22.5 million shopper cell phone supporters during Q1 2020 compared to 20.7 million in the same quarter of 2019. Its venture fragment went from winning „148 billion to „154.5 billion in income year on year. This included versatile income which expanded by 4% to „68 billion, fixed-line income which diminished by 6% to nearly „49 billion, and other income that expanded by around 24% to „37.5 billion.

    The increments in the portable and business arrangements incomes were because of bounces in cell phone endorsers and deals from cloud administrations. Fixed-line incomes diminished because of the unit cost of telephone utilities became cheaper. The endeavor portion’s working pay was „28 billion, a 17.7% expansion.

    Delhivery Success Story – The Startup Which Took India by Storm!
    #delhivery #courier #pickup
    StartupTalkyRishabh Rathi

    SoftBank – Yahoo Japan Story

    Yahoo Japan, the new section that was solidified into SoftBank budgetary outcomes, had its income bounce from „226 billion to „235 billion, a 3.3% expansion year on year. Of this, trade income expanded by 4.8% year on year to „165 billion, media income stayed relentless at around „72 billion, and other income diminished by 13% year on year to around „1.4 billion.

    The expansion in trade income was predominantly because of an elevation in income-related with an increment in exchange, an incentive in business administrations. While Yahoo Japan’s income expanded over the previous year, its working salary dropped 8% because of ventures geared towards growing its online installments stage.

    The purpose of making Yahoo Japan a solidified backup, SoftBank stated, was to reinforce its association with Yahoo Japan in the making of such new organizations. “The two organizations will upgrade the administration assets designation dependent on a coordinated methodology that empowers them to expand cooperative energies,” it said.

    Its appropriation fragment—which offers items and administrations essentially tending to ICT, cloud administrations, and IoT arrangements—hopped from „92 billion to „116 billion, up by 26% year on year. This was for the most part due to firm offers of existing items, for example, PCs and servers, notwithstanding an expansion in the number of licenses for cloud administrations. The conveyance section’s working salary was nearly „5.3 billion, an expansion of 32% year on year.

    Altogether, SoftBank’s working salary was „269 billion, up by 22% from the year-earlier.

    The expansion was fundamental because the Japanese combination was encountering relentless development in its different telecom organizations; the working pay of its telecom organizations over the Consumer, Enterprise, and Distribution sections was expanding by over „20 billion altogether. With another solid execution in its Q1 2019 outcomes, the Japanese aggregate proceeds with its upward direction, having expanded its working pay by 81% for FY 2018 contrasted with FY 2017. The gigantic bounce was driven by the SoftBank Vision and Delta Funds which dramatically multiplied the working pay.

    SoftBank likewise declared a second SoftBank Vision Fund a month ago, comprising of $108 billion („11.7 trillion) in reserves.

    Snapdeal Company Profile – Catering to 400 million Value-Conscious Indian Consumers!
    How easy have our lives been ever since e-commerce portals came into action! Oneof these, Snapdeal makes online shopping a boom with its coupons and vouchersfor the consumers. Founded by Kunal Bahl and Rohit Bansal in February 2010, Snapdeal is an Indian e-commerce company based out of New Delhi.

    StartupTalkyRishabh Rathi

    SoftBank – Vision for India

    SoftBank Vision reserve was set up in 2017 with an all-out corpus of $100 bn. The majority of this vision reserve was raised from Saudi Arabia and Abu Dhabi. The organization has put around $10B so far in Indian new businesses.

    Softbank’s Vision For India

    SoftBank has seen an 80% year-on-year development in its working pay for FY 2019. The Son-driven organization ascribed this development to an unrealized addition of about $12.5B from its interests in ride-hailing organization Uber, Indian accommodation organization OYO, and other portfolio organizations. In general, its interests in Flipkart and OYO were responsible for an addition of $2.7B, split among acknowledged and unrealized increases.

    The closeout of SoftBank’s offer in the Indian web-based business goliath Flipkart brought about the addition of $1.3Bn for the Japanese organization. Flipkart was purchased by Walmart for $16B in August 2018. OYO’s valuation has expanded to $1.4bn in FY 2019. SoftBank’s other key interests in India include Ola, OYO, Hike, Paytm, FirstCry, Grofers, Delhivery, and Paytm Mall. Not long ago, SoftBank was said to be pondering on the first stock sale of its $100B SoftBank Vision Fund.

    OLA Success Story – Full Form, Story, Founder, Business Model, Funding History, Team, News
    ‘Ola’, the company needs no introduction. The first Indian cab aggregatorcompany, Ola has made availing cab services a smooth experience. Owned by ANITechnologies Pvt. Ltd., and formerly known as OlaCabs, Ola was started in Dec2010 by two IIT Bombay [/mumbai-startups/] graduates. Ola serves as an

    StartupTalkyShubham Kumar

    SoftBank – FAQ’s

    Is SoftBank a bank?

    SoftBank Group Corp. started out in 1981 as a distributor of computer software. As software is called “soft” in Japanese, the name “SoftBank” literally means “a bank of software.”  The word “bank” was chosen based on the company’s grand aspiration to be a key source of infrastructure for the information society.

    Who owns SoftBank?

    SoftBank’s founder and CEO, Masayoshi Son, is the third-richest person in Japan, with a $20.6 billion personal fortune. He owns $45 million worth of real estate in Tokyo as well as a $117.5 million estate in Silicon Valley.

    What is SoftBank Vision Fund?

    Softbank Vision Fund is the world’s biggest innovation-centered investment finance, with over $100 billion in the capital.

    What Marketing Strategy does SoftBank follow?

    The Softbank group uses an effective and smart “4P” marketing strategy to carry out its business across multinational market places.

    SoftBank – Conclusion

    SoftBank Vision Fund is a part of the multi-national conglomerate Softbank Group. The company is specialized in growth capital and social impact investments that revolve mostly around software companies. It also aims to invest in businesses and foundational platforms that SoftBank believes to revolutionize and innovate the world tomorrow.

  • Communication Tools Every Startup Company Should Use

    Efficient and seamless communication is the key to a successful startup business. The most effective communication tools are those that are easy to use—in other words, they don’t require a lot of technical expertise, they’re easily customizable, and, best of all, they are easy on your business budget.

    When you’re starting out in business, there are a few things you can do that will help you get your message across quickly. Here are just some of the communication tools every startup company should use both internally and externally.

    Communication Tools

    Communication Tools

    VoIP (Voice over Internet Protocol) Phones

    Having VoIP phones is a must for every startup. But first, what are VoIP phones?

    VoIP, which stands for “voice over internet protocol,” is a phone that is connected over the internet. It can either come in the form of a software (on a computer or portable device) or specialized hardware (running on an individual’s personal computer). So, instead of the traditional telephone, VoIP phones use an internet connection to communicate.

    One of the advantages of a VoIP phones is that it also provides a wide range of features, including caller ID, ringless voicemail, and multiple phone numbers. If the phone has more than one number, you can use a single number and keep receiving calls from a number of people. You may also opt to receive multiple messages at one time.

    MassText Messaging App

    The ability to communicate through a mass text app allows startups to reach out to more people. This will be very helpful if you want to announce something to your employees. You can simply just send one text to all your employees. At the same time, this is also a very useful marketing tool to communicate with your customers.

    The use of mass text messaging for communication allows for you to reach out to many different individuals who may be in a variety of situations. If you are unable to get them on the phone or Skype, you can get them through text, making it easy to let them know your intentions and what you want them to know. If you have a product launch or upcoming sale, you can send text blasts to all your customers who subscribed to your newsletter. One click, and everybody gets the message. You won’t need to send individual texts.

    Email Messaging Platform

    Email is a must for every corporation. This is the basic communication tool in a corporate setting. It’s a more formal way to communicate within and outside the company, which will also increase your startup’s credibility. So, make sure to set up your startup with an email platform.

    At the same time, email is also a very important communication tool when talking to your clients or customers. Email campaigns have become increasingly popular over the past several years as they give you the opportunity to build relationships with customers, which can lead to repeat customers. In addition to that, the cost of an email campaign can be minimal compared to other marketing tools.

    With an email campaign, your company can send email blasts to clients and customers. These messages often contain sales messages, and they include information about new products and services that are available for your company. An email campaign can provide you with valuable feedback about what your customers think of your products and services, which can help you build customer loyalty.

    Project Management App

    Communication tools for project management are often used to increase the level of communication between teams, to manage time and costs, to reduce project risks, to improve productivity, to manage conflicts, and to make decision-making easier. With that said, another communication tool you need for startups is a project management app.

    Project management apps can also be used to track progress and performance of project managers. An organization can build a network of project managers to coordinate and monitor the progress of its employees. Communication tools can also allow project managers to provide feedback to people who are working on the project and allow managers to identify problems or issues.

    Private Channel, Chat, and Group Messaging Tools

    Communication tools
    Communication tools

    Aside from having your email set up, you’ll also need a private channel where your team can exchange messages, links, and files in the form of chat and group messaging. This way, you can instantly contact members of your team.

    There are also messaging apps, like Slack and Microsoft Teams, that integrate some popular and useful tools such as Dropbox, Zoom, Groove, Trello, and others into their systems. Having this will make it easier for you and your team to collaborate and share files. In addition, these apps are also available in iOS and Android. So, even if your team members or employees don’t have their laptops with them, they can easily respond to messages on their phones.

    Survey and Data Analysis

    Communication includes getting feedback from your employees as well as your customers. To get to know your employees and customers better, a good communication tool you’ll need as a startup is surveys. There are apps to create surveys and help you analyze data, such as Survey Monkey.

    These apps can create a seamless survey that your employees and customers can answer. Afterwards, you’ll get a comprehensive report about the opinions of both parties. This will help you evaluate your performance and how to approach situations moving forward. For most of the survey apps, it’s usually free for a certain number of questions per survey. Then, paid plans will provide you with unlimited number of questions, customized themes, additional analysis, phone support, and more distribution options.

    Customer Service Chatbot

    Customer service chatbot has proven to be highly effective for addressing customer concerns immediately. When using a customer service chatbot for your business you will soon start to see the benefits that you can reap from it and the benefits go beyond just the obvious of an increased level of efficiency.

    Your customers will also notice the improvement in your services and this can make them feel more comfortable with your brand and this can lead to increased sales. You will also be able to improve the way your customers interact with you through a more personalized approach. If you’re customer service personnel is away, you can also set up some auto-replies to be able to assist your customers even if you’re away.

    In addition, customer service chatbot providers also offer packages with a support ticket tracker. This way, you’ll be able to monitor all communication between your customer service personnel and customers. In addition, you’ll be able to see which tickets have been addressed, are pending, or solved.

    Improving Communication Skills And Social Skills For Success
    Today’s world is all about showing your best social skills and communicationskills for marketing yourself. The budding entrepreneurs constantly need to sellthemselves and market their business ideas. To bucket up the investors for thebusiness, one needs to attend social gatherings and socialize w

    StartupTalkyPiyush Mishra

    Social Intranet Software

    As your startup gets bigger and bigger, it can be difficult to keep up with the changes, new people, new rules, and policies. The solution to that communication problem is to set up a social intranet software, which is a central portal accessible only by people in your company.

    This social intranet software should contain announcements, company news, company-wide documents, templates, policies, and contracts. By having one, your employees will be aligned with the latest news and goals of your company. Your employees will also have an easier time keeping up to date with changing policies.

    Task Management Apps

    One of the more common communication tools is the task management system. Task management systems offer a very simple method of managing your tasks and keeping track of them. Many of these systems also provide reports and graphs that make it easy to see where you are currently at in terms of productivity. Most task management systems will also provide a calendar for keeping track of events such as meetings, deadlines, and other projects.

    For managers, they can assign tasks to their team members as well as track all their progress in one page. Deadlines, priority levels, and meetings can also be inputted in the system. It’s a communication tool that will keep your employees on their feet and organized.

    Internal Blogs

    Internal blogs are also an effective way to communicate with your employees and make sure that you’re all aligned towards the same goal. If you are creating content for an internal blog, you need to be certain that all of your information is relevant. If your information is not relevant, your reader will be frustrated and may not be willing to read the information. You also need to determine how the content relates to your goals and objectives, the business objective, and your readership.

    For internal blogs, you can post topics regarding the achievements of your company to keep everyone up to speed. In addition, to boost employee morale, you can also use this medium to announce employees who did exemplary work. This will encourage more employees to do the same. You can also use internal blogs to post work-related tips on how be more effective.

    Internal blogs are very flexible. This can also be used as a medium for your employees to post creative works they create. If you have employees who love to write poems, then you can feature poems of the month to celebrate the talents of your employees. Having this will create a tight knit community within your startup and have more people involved.

    How to be a good listener: A Complete Guide
    Listening is an indispensable part of the communication process. Listening skillaids in establishing an effective link between the management and the employees.Listening skills also influence consumers and other businesses. So, it becomesnecessary for every person to have good listening skills in

    StartupTalkyAditi Chawda

    Discussion Forums

    Discussion forums can be your startup’s digital workspace where all employees can ask questions, bond, and discuss different projects freely. Most of the time, there is a big disconnect between veteran employees and new hires. To keep new hires up to speed and minimize mistakes, the discussion forum can be an avenue for veterans to share their knowledge. At the same time, the forum can also serve as a connection to bridge together veterans and new hires.

    In discussion forums, internal knowledge can be disseminated. All these information and discussions will be stored within the organization so that anyone can access it if they need to go back to a question. It can also be a space where your employees can talk about anything under the sun and bring each other closer together.

    Conference Calls

    Collaborative communication tools include teleconferencing, video conference, and conference call apps. Especially with more people working from home, conference call apps are very important. You can do video calls with your team to collaborate. In addition, you can also use this tool to host discussions, team huddles, webinars, and live events. This is a very important tool for your team to be able to collaborate even if they’re not physically together.

    Since remote working has become more prevalent, your counterparts might also be working from home. Because of this, you can use conference call apps to conduct meetings with clients or suppliers. If you need to present something to your client, conference call apps also have a share screen option for you to share your presentations while explaining it over voice.

    Employee Profiles

    As your organization gets bigger, it can be difficult to know each and every person in the startup. Problems on not knowing who to contact for specific processes, questions, or information. This may also cause employees spending unnecessary time searching for information by asking their colleagues to track down individuals.

    As a solution, you can set up employee profiles, which provides basic information about each person within your startup. This way, everyone can see the contact details of the person they need to contact and understand their role. The system should also show their expertise and who they report to for seamless communication. This will save a lot of time and alleviate a cloud of confusion among employees.

    Conclusion

    Effective and efficient communication is important and integral for every kind of company including startups. There needs to be seamless communication both internally and externally for a startup to thrive. Thankfully, there are lots of communication tools that you can use to help you out with that.

    The tools listed here are simple to use and can be used by anyone who is comfortable using them. They make it much easier for you to communicate effectively. They are also very cost-effective tools that will help you manage multiple projects.

    FAQs

    What are Communication Tools?

    Communication tools refer to three forms of electronic communication in distance education courses e-mail, discussion groups, and chat rooms.

    Why do we use communication tools?

    communication tools are used for external and internal communication.

    What are communication skills examples?

    Examples of communication skills:-

    • Active listening
    • Adapting your communication style to your audience
    • Friendliness
    • Confidence

    How to improve communication skills?

    • Body language matters
    • Check your message before you hit send
    • Be brief, yet specific
    • Write things down
    • Sometimes it’s better to pick up the phone
    • Think before you speak

    The simple guide How To Start Own Painting Business – StartupTalky
    Many times you see fresh paint which can do wonders for a home on TV or anyvideo or any movie. Few people have patience and skill with a brush to do as ajob forever. Starting your own painting business can be a great opportunity tobe your boss and become an interior designer. It’s not as hard as 

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  • How To Start Your Own Tax Preparation Business

    Many tax preparers find that their passion lies in helping others with tax related issues, and going above and beyond to guarantee the most favorable tax outcome possible for their clients. This drive often leads these individuals to pursue an independent tax business of their own, but the question of where to begin can be daunting.

    More than 3 crore people file taxes in India every year, and this number sees an increment of 5% every year. Hence, starting a tax preparation business won’t be a bad idea. If you are an experienced tax preparation specialist interested in starting your own business, the time is perfect.

    This post will discuss about starting your very own tax preparation business. The points given below will give you certain milestones to follow in setting up your own tax preparation business.

    How to Start a Tax Preparation Business?

    How to Start a Tax Preparation Business?

    Check With Your State

    The first thing that you want to do if you want to start a tax preparation business is checking with your state to see if there’s any exam or certificate necessary for you to take.

    Obtain A Piece

    The second point is to obtain a piece. It is a preparer identification number. If you are a tax preparer, you are required to have peon number. This number is provided by the IRS in case you are receiving money for your tax preparation business.

    Obtain An Ethan

    Do as much as research as possible about Ethan. Of course, you can go to the IRS website or you can look up videos on how to do Ethan. But Ethan is something that you do want to have. If you don’t, your tax preparation business will falter.

    Marketing Plan

    Marketing Plan In Tax Preparation Business
    Marketing Plan In Tax Preparation Business

    If you are a tax preparer, you need a marketing plan. Anybody can be a tax preparer. It takes three to five minutes to do a tax return. The competition is high when it comes to tax preparation business but it isn’t meant to discourage you. It is of utmost priority to have a marketing plan. If you have become a tax preparer recently and are new to the business, you won’t go too far without appropriate marketing tactics. People start off small by doing taxes and returns for a few individuals the first year and get disheartened. They get discouraged and lose their interest to continue tax preparation. The cause is the absence of a marketing plan, because you don’t know what to do. Marketing helps increase those five or so customers the first year to higher numbers the next year.

    Figure Out Your Tax Office

    Do you want your tax office at home, or want to set up an office workspace? You go into the tax industry, you want to be a tax preparer but where will you function from? Do you want to have a brick and mortar location, work from home, or function out of a co-working space. Figure this out while keeping your budget, liking, and other constraints in mind.

    Best Financial Business Ideas For 2020 | Financial Industry
    Here we’re getting on to understand about finance. What is finance? How it’sestablished? What are the categories of finance? How a person or the company canget funded? What is the effect of finance on company and economizing? And how tobegin an economic business and the various impressions about 

    StartupTalkyPiyush Mishra

    Create A Budget For Equipment

    Create a budget for equipment, no matter whether you are working from home or have a dedicated office space. You need a computer, printer, paper, and other stationery. Think of everything else under the sun that you may require: high speed internet connectivity, virtual conferencing subscription, etc.

    Bank Products

    Bank product decides how much you get paid. In case you are going for e-file, decide what banks do you want to go with. If you are not going to e-file, you don’t have to worry about bank products.

    Tax Preparation
    Tax Preparation

    Retaining Clients

    Congratulations, you have 20 clients in the first year. Now what? You need to retain them! Figure out how you will retain your clients because not everyone is going to be happy. If you are able to keep each client happy, kudos to you. After you complete the tax return for someone, he or she will get a letter. And it’s very common for the client to call you for help. You can assist them with the verification process, “Send me a picture or come into the office and let see how I can help you.”

    CTEC Tax Preparer

    So you want to be a tax preparer in California. Unless you are an attorney, CPA, or enrolled agent, you will have to register with California tax education counsel or CTEK for short. It’s a state requirement.

    What To Do?

    You need to take 60 hours of qualifying education from federal and state laws from a CTEK approved provider. You can get a list at CTEK.org. Next, you need to get a $5000 tax preparer to assure bond. If you need help, ask an insurance agent. You will then have to register for an IRS preparer tax identification number, also known as p10. Visit irs.gov for more details.

    All Done? Not Yet.

    You still need to register with CTEK. This is important. A lot of new tax preparers assume education providers register for them but they don’t. It’s up to you. Visit CTEK.org and click on the green box that says tax professionals. Then click on the tab says “register renew now”. Enter the last six digits of your social security number and your last name. Some important information in bright red letters will appear. Please read it.

    Fill in the blanks and pay 33 dollars registration fee. Congratulations, you are now a CTEK registered tax preparer, or CRTP for short. CTEK will give you a certificate and registration number that is valid for one year. You have to renew by October 31st every year. If you don’t and keep charging fees to do tax returns, you could face penalty up to five thousand dollars from the franchise tax board.

    Conclusion

    Establishing yourself as an independent tax preparation professional is a great way to acquire financial independence, whether you’re practicing full time or supplementing your income from another source. With the right tools, experience and an entrepreneurial drive, you can become one of the many tax return   preparation businesses that help millions of people file taxes each year in India.

    Entrepreneurial Finance: Resource – Based View (RBV)
    IntroductionOne of the directions of the search for the foundations of the strategic successof an enterprise is the resource approach of strategy formation, which isconsidered as an alternative to the market-oriented strategy of strategydevelopment [https://bizfluent.com/how-4423250-define-strategy-development.html

    StartupTalkyLakshya Singh

    FAQs

    How to start a tax preparation business in India? or How to start a tax preparation business from home?

    Steps to start a tax preparation business in India:-

    Check With Your State
    Obtain A Piece
    Obtain An Ethan
    Marketing Plan
    Figure Out Your Tax Office
    Create A Budget For Equipment
    Bank Products
    Retaining Clients
    CTEC Tax Preparer

    Is a tax preparation business profitable?

    Yes, tax is a preparation business profitable.

    What do I need to start a tax preparation business?

    1. Social Security documents.
    2. Income statements such as W-2s and MISC-1099s.
    3. Tax forms that report other types of income, such as Schedule K-1 for trusts, partnership and S corporations.

    ClearTax launches feature of Nil GST Return Filing for CAs and Businesses
    ClearTax, India’s #1 Tax & Investing platform today announced the launch of itsnew feature called Nil GST Return filing, a unique feature that will help CAsand businesses do their Nil GST Return filing in just a few seconds. Currently, every month over 20 Lakh small businesses including MSMEs fil

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  • Important Entrepreneurship Lessons That College Never Teach

    A businessman is successful because they run their business well. They can be successful because they have the experience and learn from what their teachers taught in school. At school, they learn about what is being taught by their teachers, especially regarding entrepreneurship. They apply many of these lessons in their entrepreneurship so that they can lead their companies to success. Various subjects, such as ways to create a business, how to start their own businesses, and much more are important for this field. However, not all the Important Entrepreneurial Lessons are taught in school. Some come from experience and contact with other people. Let’s find out The Important Entrepreneurship Lessons That Colleges never Teach.

    Creativity And People Management
    How Money and Cash Flow Work
    Never Give Up
    Failing Is OK When Aiming Big
    How To Be Your Own Boss
    Success Without Happiness, Love, And Service Leads To Emptiness
    The Indomitable Will To Succeed
    Question Everything
    Who You Know Is More Important Than What You Know
    Entrepreneurship Lessons – FAQs

    Important Entrepreneurship Lessons
    Important Entrepreneurship Lessons

    Creativity And People Management

    Schools do not teach about creativity and people management. Creativity, in fact, needs to be self-taught with motivation to generate brilliant ideas. People management refers to the management of a team of employees. How can they be trained to become people with credibility and a high enthusiasm for work.

    How Money and Cash Flow Work

    The money that any company gets is either used up or saved for later. However, the real money and cash flow is not known by people. If one can learn more about this, they can manage their finances well enough. They can also analyze the gains or losses that will occur.

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    Never Give Up

    This lesson is very valuable because it can teach people to never give up. In any case,  nobody should ever give up, because a person who gives up is not mentally prepared to face problems and may suffer business losses.

    Failing Is OK When Aiming Big

    Work in a team that can aim bigger than expected. If they fail, it is okay because they have been aiming big. That is, the big shots are indeed difficult to come by than a small shot. So, if you fail it will not be a problem.

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    How To Be Your Own Boss

    Boss is a corporate leader who rules his employees to work and bring the business to success. Every person needs to teach himself or herself to be bosses to become successful in life.

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    Success Without Happiness, Love, And Service Leads To Emptiness

    Success would be very sweet if it has come with hard work. However, it was never taught in school. Success without happiness will only bring a lot of money, but the individual will feel empty.

    The Indomitable Will To Succeed

    Persistence and hard work bring success. A person must be persistent in running a business. Many business people have learnt to work hard and train their persistence so they can get closer to success. But this important lesson is not taught in schools.

    Question Everything

    Question everything. Everything that is needed to be asked, All that is needed to be known. The exhilaration of curiosity can be missed if the answers are already known. However, the sense of curiosity to ask about things will lead to success.

    Who You Know Is More Important Than What You Know

    This perception has been said by a Co-Founder and CEO of ListenTrust, Craig Handley. Create a network and meet lots of people. They will give plenty of opportunities for running a business.

    entrepreneurship lessons

    Entrepreneurship Lessons – FAQs

    What entrepreneur means?

    An entrepreneur is someone who has the ability to establish and administer
    a business along with bearing the associated risk to make profits out of the new business.

    What is the best definition of entrepreneurship?

    The act of setting up and running a new business is known as entrepreneurship. Entrepreneurship is defined as the ability and readiness to establish, organize, and run a startup or an enterprise, taking the risk of uncertainty in order to make a profit.

  • What are the Best Small Businesses to Start in an Uncertain Market?

    It should come as no surprise that the global economy is set to contract by the end of 2020, with the coronavirus having impacted significantly on both developed and emerging economies alike.

    In total, the world’s economy is projected to shrink by at least 4.9% this year, with this having been revised from a forecasted contraction of 3% in April. The US economy is expected to be one of the worst hit with a 5.9% decline, although the UK and a host of European nations have been similarly impacted.

    However, some firms and marketplaces have fared relatively well amidst the chaos, and we’ll look at some examples while asking why they should offer inspiration to aspiring entrepreneurs.

    Ecommerce
    The Development of Workplace Technology Solutions
    Finance and Market Trading

    Ecommerce

    Let’s start with the obvious; as the impact of social distancing measures and lockdowns has compelled more people to shop online throughout 2020.

    Of course, this has become the best small business and accelerated a trend that was already prevalent prior to the outbreak of Covid-19, with estimates suggesting that the pandemic will add a total of ÂŁ5.3 billion to UK ecommerce during 2020.

    The market leader for growth in this sector is Amazon, with this company remaining a trail-blazer that continues to influence the future direction of the industry. Interestingly, Amazon also offers support and increased exposure for affiliates and start-up ecommerce ventures, meaning that a raft of different companies can profit significantly in 2020.

    Small businesses
    Small Businesses

    From the perspective of new traders and aspiring entrepreneurs, ecommerce also represents an accessible and low-overhead market that can drive higher short-term profits. This is an important consideration in the near-term, especially given the socio-economic impact of Covid-19 on consumers and households.

    The Development of Workplace Technology Solutions

    While Zoom stock may have endured something of a correction of late, this video conferencing tool experienced huge, triple-digit growth during the first three quarters of 2020 .

    This came as a growing number of people began to work from home in the name of social distancing, with 46.6% of the UK workforce operating remotely regularly throughout April. Of this number, an estimated 86% did so as a result of Covid-19, creating a sudden spike in the demand for workplace tech.

    While this demand is beginning to fall, however, companies are increasingly inclined to offer remote and flexible working directives to their employees, and in this respect, companies that develop accessible tech solutions will have an opportunity to enjoy considerable growth in the near and medium-term.

    Of course, this is a specialist and relatively high-cost market in which to enter, but entrepreneurs with technology expertise could well target it with some success as 2021 gets underway.

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    Finance and Market Trading

    You may have noticed that accountancy and similar financial services have come to represent increasingly attractive markets in recent times, thanks largely to the fact that it’s relatively easy to market these as a start-up venture or freelancer.

    On a similar note, we’ve also seen an uptick in the financial market trading and participation in the digital age, as technological advancement and innovation have broken down many of the historical barriers that once surrounded the marketplace.

    Of course, you may need some academic accreditations and advanced learning before entering into these markets, especially if you’re going to offer widespread financial services. In the case of accountancy, for example, you’ll need a relevant higher education degree and a license from the Financial Conduct Authority (FCA) before providing advice and services.

    When it comes to financial market trading, you’ll have to build a solid foundation of knowledge, before using online tools such as demo accounts to gain risk-free and practical experience of your chosen marketplace.

    FAQs

    What are the most successful small businesses to start?

    Most successful small businesses:-

    • Ecommerce
    • The Development of Workplace Technology Solutions
    • Finance and Market Trading

    How can I start my own business with no money?

    Choose a small business idea with low startup costs. If you still don’t have enough money, you can finance your business idea through crowdfunding or investors.

  • Why CFO is Essential For Startups?

    Startup entrepreneurship is not a business for the faint-hearted. It is a roller-coaster ride of triumphs and disappointments. All this is navigated in an atmosphere of being absolutely boot strapped to being flushed with funds to managing cash flow till the next infusion.

    The founders are dependent on attracting sizeable funding for the success and realisation of their dream. Even the bootstrapped entrepreneurs look for funding within the first 3 years of operations to really create market leadership that can be protected.

    No wonder 90% of startup fail within the first four years of establishment. Founders need to be on their best to navigate this scenario which is further complicated by dynamic taxation, legal and regulatory environment.

    Only about one in 100 start-ups are invited to a conversation with a meaningful VC. This is dependent on a product offering that is on an ascendency, the marketing and public relations being visible and the market opportunity being large enough. A study of 885 institutional VCs at 681 firms by the National Bureau of Economic Research found VCs start with a pipeline of hundreds of potential opportunities and narrow those down to make a very small number of investments.

    Eventual funding with good valuation from these conversations is based on past performance, future projections, VC’s impression of founders’ capability to meet the management challenges in a scaled business, and the VC ability to guide and open doors. VC also have a keen eye for the other senior members of management team and specially on the person managing the financial affairs.

    An experienced finance professional who has been part of the core team for a longer tenure gives more confidence to investors – which is important for valuation. It is here that a talented CFO (chief financial officer) with multi-disciplinary experience becomes critical for the start-up.

    Siba Panda (Founder & CEO), Faustus Advisory

    When not guided by a good CFO the past performance numbers can suffer the weight of oversights and short-sighted decisions. A talented CFO will ensure that the founders run a well-oiled set-up with absolute control. Some of the issues that require the guidance of as CFO (and the CA is not enough) are:

    • Controlling of bad debts and outstanding debts
    • Contracts that are litigation free
    • Unit margins that are VC attractive
    • Management of suppliers and vendors
    • Buy vs lease decisions
    • Compliance with taxation rules
    • Director compensation and reporting
    • Well-structured employee and labour agreements for win-win
    • Ensuring employee stock-options that attract best talent at low equity cost

    Future projections need an understanding of core business on par with the founders and expert ability of leveraging financial planning tools which a good CFO will have. Future projections are critical in deciding the final valuation as they directly determine the money infused in this round and even future rounds of VC funding.

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    The Founders management ability in the face of scaled up business after funding is also reflected in how the cash flows has been managed in the past and projected for the future. How the past agreements have been structured, the tax compliance the litigations that could have been avoided, the decision-making process for taking business calls all feed into this evaluation. This is essential for determining that the founders will remain in the driving seat even after funding and a competent CFO is essential for this.

    Post funding the role of CFO in startup is further expanded as the VC expects financial reporting to be in line with their best practices. If the startup is not able to quickly adopt, due to not having a trusted CFO, then the VC suggests their recommended CFO. Such a CFO is likely to be more committed to the VC than the founders. Also, the CFOs remuneration may be very hand will become difficult to manage when stretching the funding before the nest infusion.

    Post funding period also requires careful monitoring of costs and ROI to keep them in line with the board’s expectation. The startup will have a serious commitment to the board for the first time as the VC is on it. They will require all statements to be backed with complete data and will also expect projections and explanations on any deviation. A good CFO ensures that the founders make reasonable commitments and are able to meet all commitments without having to take the eyes of the growth objectives.

    It is thus cost practical for startups to onboard a CFO right from inception even though the cost to company seems high in the early stage. The CFO also frees the founder to focus on business growth rather than managing financial and contractual headaches. One way to keep the CFO cost low is to outsource the CFO thus getting the best of both worlds.

    This article is authored by Siba Panda (Founder & CEO), Faustus Advisory.

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    FAQs

    What is CFO?

    A chief financial officer (CFO) is the senior executive responsible for managing the financial actions of a company.

    What is most important to a CFO?

    A CFO looks to contribute outside of the confines of the traditional CFO role, using financial analysis to support and challenge decision-making as well as involvement in the strategy. A business environment that enables this is important as well as one that offers the opportunity to undertake different challenges.

    What does the CFO do?

    The CFO’s duties include tracking cash flow and financial planning as well as analyzing the company’s financial strengths and weaknesses and proposing corrective actions.

    How to become CFO?

    The majority of CFOs will understandably have an educational background in finance, business, economics or management. A typical path would be a bachelors and masters degree in accounting or other finance-related studies, alongside the ACCA Qualification.

    What are the benefits of CFO?

    Benefits of having a CFO:-

    • Financial Reporting and Risk Management
    • Operational Efficiency
    • Strategy Development
    • Increased Profitability
    • Reduced Costs

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  • What is Microsoft Azure And How Does it Work

    The services offered by Microsoft such as Azure is replacing the practice of storing all the data in server that you purchase which can be expensive. Cloud services are essentially the new and advanced method of storing and accessing data and provide software subscriptions mainly for the example like Microsoft office 365 suite.

    Microsoft Azure – About
    Microsoft Azure – Application
    Microsoft Azure – Services
    Microsoft Azure – Training
    Microsoft Azure – How Does It Work?
    Microsoft Azure – Pricing Plans
    Microsoft Azure – FAQ’s
    Microsoft Azure – Conclusion

    Company Name Microsoft Azure
    Developer Microsoft
    Founded On Febraury 1st, 2010
    Operating system Linux, Microsoft Windows
    Licence Open source for client SDKs

    Microsoft Azure – About

    Microsoft Azure formerly known as “Windows Azure” is a cloud computing service that provides provisional computer resources that including other Microsoft’s own products and technologies. It provides a range of cloud services, including compute, analytics, software, storage, databases and networking.

    It also offers open source technologies such as Linux technologies which can be deployed inside a virtual machine. Users can pick and choose from these services to develop and can even scale new applications or run existing applications in the public cloud. Microsoft also offers Microsoft Azure training.

    Microsoft Azure Logo

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    Microsoft Azure – Application

    Microsoft Azure Applications
    • The Azure platforms aims to help businesses manage the challenges that they face and meet their organizational goals.
    • You can create you own Linux virtual machine in minutes from the wide selection of marketplace templates while Azure will host your apps and services
    • It offers tools that help support all industries including e commerce, analytics and finance is compatible with other open source technology.
    • Azure also offers managed SQL relational database from one to unlimited number as a service.
    • You can use Azure as a resource to build your application and to launch it in a virtual machine, Azure provides an affordable alternative to the heavy budget that is required for resource provisions.
    • With azure it is easier to create and globally deploy applications that compatible on popular web and portable platform. Which come along with safe and highly accessible data storage.
    • It is adaptability to any environment so startups can compete with fortune 500 companies and then later transition to other bigger setups.
    • Another add on service available under Azure is that Visual Studio team services offer a complete application life cycle management (ALM) solution in the Microsoft cloud.

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    Microsoft Azure – Services

    Microsoft charges for azure on a pay as you go basis, which means that the subscribers receive a bill each month that only changes them for the specific resources they have used. Azure offers 4 different forms of cloud computing which are Infrastructure as a service (IaaS), Platform as a service (PaaS), Software as a service (SaaS) and server less.

    Microsoft Azure Services

    1. Infrastructure as a Service (LaaS) –

    This is the base of the service that Microsoft Azure provide their clients a server in the cloud. They control the virtual machine and give full autonomy of the management to the client, from the operating system to the application that they’ll be deploying.

    2. Platform as a Server (PaaS) –

    The clients are also given an operating system, a database, a web server, a code executor and other services along with the server in the cloud. It deals with the operating system and other minor details so you can focus on your work.

    3. Software as a Server (SaaS) –

    This service is for building an application that is hosted on third party vendors. Most applications are built on a cloud in order to avoid costs and ease of availability.

    Microsoft Azure – Training

    Microsoft itself offers preparing in Microsoft Azure through their Microsoft Virtual Academy. They offer levels of training as the beginning structure from beginner to middle of the road and afterward advance course. Anybody from understudies to individuals who work intimately with Microsoft Azure can increase some intensive understanding, as Microsoft even offers free courses to its clients.

    The beginner can try Microsoft Azure for IT Pros Content Series: Introduction to Microsoft Azure, and a progression of six courses. Microsoft has a whole preparing page on its site explicitly for Microsoft Azure, which are all free. Individuals taking the course will be given confirmations for their Microsoft Azure preparing. Microsoft Learning is another device that shows you Microsoft Azure through the Microsoft Virtual Academy and paid preparing. After the courses and exercises, you’ll be offered certificate tests.

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    Microsoft Azure – How Does It Work?

    The Process of Microsoft Azure

    1.  Just as other cloud platform, Azure also relies on technology known as virtualization. Most computer hardware can be emulated in software because most computer hardware need a simple set of instruction which is permanently or temporarily encoded in silicon.

    2. By using an emulation layer that maps software instructions to hardware instruction, virtualization can be executed in software as if it were the actual hardware itself.

    3. The cloud is a set of physical servers in one or more data centers that execute the virtualized hardware for the customers. With this the questions that raise are how does the cloud create, start, stop and delete millions of instances of virtualized hardware for millions of customer at once?

    4. To understand how this works, we should look at the architecture of the hardware which is in the data center. Inside each data center there is a collection of servers that are arranged on server racks. And every server rack will contain server blades as well a network which provides network creativity and a power distribution units (PDU) providing power.  Racks are further grouped into larger units called Clusters.

    5. Each rack or cluster are designated to run these virtualized hardware instances for the customer. Some of these servers run cloud management software called fabric controller, which allocates and monitors the health of the server and heal server when it fails.

    6. Each instance of the fabric controller is connected to another set of servers that run cloud orchestration software known as front end. The internal Azure database is used for all the functions the cloud performs.

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    Microsoft Azure – Pricing Plans

    Like other open cloud suppliers, Azure basically utilizes a pay as you use model that charges depending on the amount of utilization. However, if a single application utilizes various other Azure services, each service may include different price points. What’s more, if a client makes a long term commitment to a certain service, Microsoft offers a discounted price.

    Given the numerous components of cloud service pricing, the organization must review and manage cloud utilization to limit costs.  For example, Azure native tools, can help screen, visualize and enhance cloud spending. It is also possible to use tools like Cloudability or RightScale, to oversee Azure usage and related expenses.

    Microsoft Azure – FAQ’s

    What is Microsoft Azure used for?

    At its core, Azure is a public cloud computing platform—with solutions including Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS) that can be used for services such as analytics, virtual computing, storage, networking, and much more.

    Is Microsoft Azure free?

    Azure is an extremely big and powerful cloud platform that you can use to develop and run your applications. These are services like Cosmos DB, Cognitive Services, Azure Active Directory and many more. If you are new to Azure or if you want to run an experiment on Azure, you can use it for free, for 12 months.

    What is Microsoft Azure and why is it used?

    Microsoft has leveraged its constantly expanding worldwide network of data centers to create Azure, a cloud platform for building, deploying, and managing services and applications, anywhere. Either option provides secure, reliable access to your cloud-hosted data—one built on Microsoft’s proven architecture.

    What are the Microsoft Azure Services?

    Microsoft Azure comes with a range of data services: Azure Storage, Azure SQL Database, Azure DocumentDB, Azure StorSimple, and Azure Redis Cache. Below is an overview of Azure Storage, one of the most prevalent data services provided by Microsoft Azure.

    Does Azure require coding?

    Azure as a platform can be learned without knowing any programming at all. Although if you wish to deploy an application to Azure then you may need to write some configuration code or a deployment script. But for normal infrastructure management and other tasks you can use Azure. There are many ways to learn Azure.

    Is Azure owned by Microsoft?

    Microsoft Azure commonly referred to as Azure, is a cloud computing service created by Microsoft for building, testing, deploying, and managing applications and services through Microsoft-managed data centers.

    Microsoft Azure – Conclusion

    So fundamentally, Azure is a huge collection of servers and networking hardware running a complex set of distributed applications to orchestrate the configuration and operation of the virtualized hardware and software on those servers. It is this orchestration that makes Azure so powerful, because users are no longer responsible for maintaining and upgrading hardware because Azure does all this behind the scenes.

  • How To Tackle Virtual Team Management Challenges?

    Virtual Teams are becoming a part of life slowly and steadily. This concept has picked up the pace in the past 5 to 6 years. It is becoming a trend now and a good alternative for traditional management systems. With the inclusion of technologies in our life virtual teams have become an essential part for organizations. Although there also come certain challenges. Here we will discuss certain Virtual Team Management Challenges. What can be the measures an organization can take up to tackle these challenges?

    Let us first discuss what does actually Virtual Team means?

    Virtual Teams
    Types of Virtual Teams
    5 Virtual Team Challenges

    Virtual Teams

    Virtual Team Survey done in 2020
    Virtual Team Survey done in 2020

    When people from different areas or locations come together with the help of technologies like telephone, video call, voice call, e-mail or fax and work together forming a team for a specific cause being at where they are can be termed as Virtual Teams.

    So, here people are assigned different tasks on the basis of their hierarchy. So they can perform them virtually through different locations. Nowadays, video calls are the best alternative as it helps people to interact in a better way. It also helps in creating a better environment as compared to phone calls. It creates a more interactive session.

    Virtual Team meetings are also an efficient and effective way to conduct meetings. It helps a person to save cost of traveling and setting up an office.

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    Types of Virtual Teams

    Types Of Virtual Teams Meaning
    Networked Teams Under this people from different expertise and knowledge comes together to solve a particular issue.
    Parallel Teams It is formed for a short span and is usually formed among the people in the same organisation regarding any specific issue.
    Product Development Teams Teams takes part from different countries and contribute their ideas towards a new product development
    Production Teams In this every individual does his own work and at the end all indiviiduals works are combined for the end product
    Service Teams Under this the work is done in different countries according to their time zone. Suppose one country’s work is done then the other country will take it from that position according to their time zone
    Management Teams These teams are formed at different geographical area. Managers forms this and takes the decision under the same organisation. Big decisions of the organisations are taken under this.
    Action Teams These teams are formed for a quick solution to a problem and when the problem is solved these teams are put off

    5 Virtual Team Challenges

    Growth of Successful Virtual Teams
    Growth of Successful Virtual Teams

    1. Focusing On Tasks

    First of all, while developing a team proper instructions should be provided.  What task to perform, time management, and about the resources that will help them to reach a certain goal. But the main emphasis should be on how should the process takes place. They should be taught how tasks can be tackled. Focusing on the goal is important but should not be given primary importance. Also, as a team leader, you have to simplify the processes and tasks to your team members. Each individual should be clear about the task assigned to them.

    2. Developing Rhythmic Communication

    While managing a team virtually good communication is a must. When people are located at different places it is easy to get distracted. And as a manager of the meeting you have to take care that the focus of the people does not get away. Try to make the other people feel comfortable and create a healthy decorum. Also, if you are doing it on a regular basis try to fix a certain time. They will try to clear out their minds from other daily routine tasks which will help them to focus on the meeting.

    3. Start Off With An Informal Communication

    Whenever you are starting off a virtual meeting do not directly jump in into the formal part. Start with a healthy gesture and ask people that what were they doing before this or how are they holding up. It will help the other person feel more involved and comfortable. First few minutes you can ask them what is going on around them. This will make them feel important and will provide a better output during work.

    4. Allowing Flexible Work Hours

    When a virtual meet is conducted it is important to provide them with flexible work hours. Asking them to submit the task assigned within flexible hours will help you create a good bond. It will also help them provide better work with less amount of stress. Although try not to let them lose too much. Give them flexible hours but in a preferred amount of time. The time provided should be beneficial to both you and your workers.

    5. Ask Your Team Members To Share Their Opinion

    Whenever a virtual meet is conducted make sure all your co-workers feel involved. When a task comes under you and your team tries to listen out to everyone’s opinion. Ask them how they can do it better. If anyone comes up with a great solution try to reward that worker and praise him. This will help in creating an involved environment and also will help them to boost their morale.

    So, Managing a virtual team can become a great alternative if you and your teammates become used to it. More and more organizations are shifting to this type of team management.

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    Virtual Team Management Challenges – FAQs

    What are the challenges of managing virtual teams?

    5 Challenges of Virtual Teams

    • Focusing On Tasks
    • Developing Rhythmic Communication
    • Start Off With An Informal Communication
    • Allowing Flexible Work Hours
    • Ask Your Team Members To Share Their Opinion

    What is the meaning of virtual team?

    When people from different areas or locations come together with the help of technologies like telephone, video call, voice call, e-mail or fax and work together forming a team for a specific cause being at where they are can be termed as Virtual Teams.

    What is an example of a virtual team?

    Example of a Virtual Team:

    Company A, a plane manufacturer, is facing heavy pressure from competitors. To address the issue, Company A connects experts from the United States, Canada, Asia, and Europe to collaborate and create a new innovative plane design.

    What are the types of Virtual Teams?

    7 Types of Virtual Teams

    • Networked Teams
    • Parallel Teams
    • Product Development Teams
    • Production Teams
    • Service Teams
    • Management Teams
    • Action Teams

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  • Virtual Assistant Companies To Help You With Everything

    The technology in this generation is helping businesses achieve all their goals. It is done in very effective as well as innovative ways. Out of all, one of the best ways the companies getting their work done more efficiently is by hiring virtual assistants. A virtual assistant helps to take care of administrative or any ongoing business task. Virtual assistant companies can help you connect with support for works, starting from managing your schedule to organizing all your emails in suitable orders.

    Virtual assistants in any company are counted as one of the greatest assets. But it is also important to select a qualified virtual assistant. You also have to track their time management and work productivity. If you are searching for virtual assistant companies to contact, you first have to specify the kind of work you need help with. The works can include research on various topics. For instance, scheduling meetings, making travel plans, managing social media accounts, and much more.

    So, here are a few virtual assistant companies to get the best out of your work.

    Hubstaff Talent
    GetFriday
    Brickwork India
    Osssisto
    Wervas
    Acelerar Technologies
    Webcenture
    Wishup
    Your Daily Task
    Virtual Employee

    Hubstaff Talent

    A directory of talented remote workers from all over the world, Hubstaff stands first among all the virtual assistant companies. This company comes with a free-end feature for all employees as well as the employers. This makes the virtual assistant receive the entire amount that is being paid by the clients.

    virtual assistant companies_startuptalky
    Hubstaff

    Browse through a pool of 11,000 virtual assistants and virtual assistant companies. Get all details about a virtual assistant. Know the hourly rate, resume, experience, skills, availability and languages spoken. Virtual assistants can add a short bio to provide more information on themselves. You can filter the profiles by skill, years of experience, availability or location. Even it enables the user to search for keywords or phrases. Hubstaff Talent will display the best results to the query made by the clients.

    GetFriday

    GetFriday is equipped with highly-skilled virtual assistants. These assistants are specialized ones in comprehensive task management which have proven effective enough to let you concentrate on other things too. It also provides users with a flexible payment option to work with. A team of 200 diverse professionals are being employed by GetFriday. It helps the user by having someone online 24/7. This will enable them to cater to all kinds of needs regarding businesses and individuals, which works actively in all time zones.

    assistant virtual_startuptalky
    GetFriday

    After getting your subscription done, you are all ready to use your Virtual assistant. It enables you to assign tasks via the phone, fax machine, email, or even online. This virtual assistant would manage all the rest of your task. You will get an immediate notification when your work is being completed.

    Brickwork India

    One of the best Bangalore based virtual assistant companies in India, Brickwork India spread across 88 countries. This company has included everything from Fortune 500 giants to startups. They provide flexible engagement models. These enable you to get a customised version which would be suitable for your business needs.

    assistant virtual_startuptalky
    Brickwork India

    Brickwork India helps in providing business services in aspects, social networking, such as sales support and other administrative tasks. Besides, it can also help you in human resource assistants, web development and marketing.

    Why You Should Hire A Virtual Assistant?
    Most people dream of running their own businesses [/tag/business/]. When thisdream becomes a reality and things start picking up, it might become chaotic forthe business owner to accomplish all the tasks alone. Owner may findhimself/herself in a tight situation when he/she forget to schedule meet

    StartupTalkyAshwini

    Osssisto

    Ossisto helps in getting virtual assistants who excel at numerous administrative duties. One of the Bangalore based virtual assistant companies, Ossito also works in other countries like United States, Australia, and Great Britain. You can get services in Ossisto that range from IT and business support to graphic design. Digital marketing is also another major task done by Ossisto.

    virtual assistants_startuptalky
    Ossisto

    They assure you the deliverance of task at any time or any day of the week. Ossisto claims to provide you ‘young and dynamic team working exclusively for you’. So you can rely on them no matter even if you belong to businesses starting from start-ups or you are up to some unique entrepreneurial activities.

    Wervas

    A very unique name that pronounces as ‘we are VAs’, Wervas is one of the top virtual assistant companies. It is a Kolkata, India based company which was founded in 2016. With Wervas, you get virtual assistants for various tasks like email management, Internet research, Web development, Search Engine Optimization (SEO) Services, IT support and customer service.

    virtual assistants_startuptalky
    Wervas

    It offers the clients to choose from the various affordable price ranges. You can assign a task for hours or even for full-time work. It also comes with a 24/7 support so you don’t miss on anything you need to be assisted on.

    Acelerar Technologies

    A Noida based company, Acelerar Technologies can be one of the best virtual assistant companies. It will provide virtual assistants who are experts at social media management, email and chat support, internet-based research, administrative support, appointment planning accounting support and more.

    virtual assistants_startuptalky
    Acelerar Technologies

    This company was founded in 2006 and is still running successfully in helping seekers getting the exact they want. With a free trial, it also offers flexible payment options. To get a free quote, you just need to give them a call or you can also fill a form on their website.

    Webcenture

    Founded in 2008, Webcenture has successfully carved out a niche in the market, especially counted in the SMEs as well as in startups segment. This is one of the Mumbai based virtual assistant companies.

    Virtual assistant companies_startuptalky
    Webcenture

    Their services range from website development, WordPress management, SEO, social media marketing, internet research to administrative activities. They provide hourly rates are both competitive as well as affordable. You can choose from the hourly task that you need or even pay only for the required tasks. This flexibility makes it a pay-as-you-need model.

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    Wishup

    Wishup is one of the latest virtual assistant companies. This company enables you to select from a number of smart professionals who are adept at various computer-based tasks. Wishup helps in connecting business owners with trained assistants, ready to work for them remotely.

    virtual assistant companies_startuptalky
    Wishup

    This company is located in New Delhi. The exclusive feature by Wishup is that they hire, train and skill their employees up so they can be the best suitable for your work. You can subscribe based on the number of assistant hours that you want to use for your tasks.

    Your Daily Task

    If you want to avail services even on holidays and weekends, then Your Daily Task is the best option among all other virtual assistant companies. The company provides you with a flexible scheduling option. You can choose how often you would need a virtual assistant to work during the day or week.

    virtual assistants_startuptalky
    YourDailyTask

    With the easy work portal available, you can assign tasks, track hours, and discuss projects, comment, share files, set milestones, pay bills, and can do much more. They also provide security as well as the confidentiality of your venture.

    Virtual Assistants

    Virtual Employee

    Founded in 2007 and is one of the Noida based virtual assistant companies. It is a NASSCOM affiliated, ISO 9001 and 27001 certified company. It offers its clients, 700 full-time virtual assistants. It also comes along with countless part-time ones today.

    virtual assistants_startuptalky
    Virtual Employee

    They offer a considerate range of IT and non-IT domain services across multiple industries. The fields included are such as engineering, transcription, internet marketing, accounting and finance, data entry, law, content writing and administration, graphics, architecture, HR as well as all tasks related to healthcare.

    So, with these virtual assistant companies, you can choose the one that suits you the most. The virtual assistants will assist you with every task. So you can incorporate one of them so you don’t miss out the important dates and events in your life.

    FAQs

    What is the best virtual assistant company?

    Hubstaff Talent
    GetFriday
    Brickwork India
    Osssisto
    Wervas

    What is Hubstaff?

    Hubstaff is a simple application that your virtual workforce installs on their machines to track time, activity levels, and take screenshots.

    Why companies hire virtual assistants?

    Hiring a virtual assistant can help delegate tasks that are mundane and monotonous while freeing oneself to focus on critical areas that demand skilled specialization. By offloading these tasks, VA allows the company team to have more leisure time.

    What is Virtual Assistant Service?

    Virtual Assistant Service is an independent service provider which provides various services to businesses from remote locations. Virtual Assistant Service provides a variety of tasks that a business needs on a daily basis hence, the virtual assistant service is allowed to access various documents of the organization.

    How Virtual Assistant Works?

    A Virtual Assistant Works are as same as a regular employee does but from a remote location. Virtual Assistant can perform a variety of tasks for businesses like attending calls, scheduling tasks and appointments, manage emails and messages, data entry, research, and many more daily time-consuming tasks that a business needs.

    Which factors should you consider while selecting a Virtual Assistant Service?

    While considering a Virtual Assistant Service, we should consider the following factors:

    • Communication Skills
    • English Proficiency
    • Knowledge of Computer and various technologies
    • Responsiveness
    • Multitasking abilities
    • Quality of Work
    • Price
    • Work Delivery

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  • Lifestyle Marketing: Brands That Speak | [The Definitive Guide]

    It’s been ages that every brand is trying to generate a brand value that grabs the attention of their target audience so that the next thing that clicks in their mind is “They want to buy it.” From the car you drive to the deodorant you use; we are looking at the brand value of the product we use. People from around the globe are trying to create a lifestyle ideal, and then we buy those products over others.

    Rome was not built in a day: Creating a brand value is not like you can just do it all with money. There are various other factors, and marketers have spent a great deal of time wrestling the idea of developing useful, real-life market strategies. These foundational characteristics are rooted deeply in human wants and desires and act to create a connection between a company, its products and services, its people, and ultimately its customers.

    Today, the average consumer is sick and tired of “traditional ads”. People don’t want to be “sold to” by their favourite brands.

    If you want to know what are lifestyle brands….keep reading !

    What is Lifestyle Marketing?
    Why Lifestyle Brand?
    Characteristics of Lifestyle Brands
    How to Create A Lifestyle Brand?
    Tips For Creating A Lifestyle Brand

    What is Lifestyle Marketing?

    But what is the lifestyle brand meaning? The word “lifestyle” is a somewhat broad one, and it means that your company can focus on a range of areas, all the way from fashion, to cooking, or sportswear. A consumer’s lifestyle is seen as the sum of his interactions with his environment.

    Lifestyle Marketing | Lifestyle Brands
    Lifestyle Marketing | Lifestyle Brands

    Lifestyle marketing is a marketing strategy where a product is branded and marketed such that it is perceived to possess aesthetics, ideals, and aspirations according to the people’s wants; which also get identified and revolves around an ideology that gives meaning and purpose to why it exists.

    Now marketers have realized that in order to get their brands heard amidst all the noise in the advertising space, they need to take a different approach. Instead of trying to convince consumers to buy their products, these marketers create a seductive aura around their products such that the consumers crave to buy their products and get associated with the brand.

    These are some popular lifestyle branding examples that you might have seen:

    • The athlete, like Nike, Puma, or Adidas.
    • The thrill-seeker, like Vans, The North Face, or DC Shoes.
    • The adventurer, like Jeep or Harley Davidson.
    • The trend-spotter, like Warby Parker, or Dior.
    • The luxury lover, like Marks and Spencer, Ralph Lauren, or Louis Vuitton.

    Why Lifestyle Brand?

    Why Lifestyle Brand? | Nike: Just Do It.
    Why Lifestyle Brand? | Nike: Just Do It.

    In our hectic life, many of us aspire to live a different life with more excitement and thrill. We want to become more athletic, fitter, more adventurous, more rebellious, more fashion-conscious, and the long list never ends. It is this desire to live a different kind of life that lifestyle marketers appeal to.

    Lifestyle brands are effective in a way because they work on a deeper understanding level of what their target audience actually wants to do and achieve. Lifestyle brands create the whole idea that using their products or being associated with their brand takes people closer to the kind of lifestyle they want to live. They analyze the experiences that their audience craves, as well as the people, things, and places that inspire them.

    Successful lifestyle brands don’t just compile demographic data into a user persona and begin to churn out content, they dissect every aspect of their audience until they know exactly what makes them tick.

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    Characteristics of Lifestyle Brands

    • A devoted, cult-like following and community around the brand and its products.
    • An emotional connection with their audience.
    • Inspire the audience to live a better or more exciting life so that they cultivate the trust and respect of their target audience.
    • Content and marketing activities are more focused on their audience rather than their products.
    • Don’t try to sell to everyone, cater for and connect with a niche audience.
    How to create a Lifestyle Brand?

    How to Create A Lifestyle Brand?

    Creating a lifestyle brand is about defining who or what your audience wants to become in the future, and giving them the solution that will help them achieve that end goal. It’s not about designing the perfect running shoe, but convincing your audience that your company will make them a better runner.

    One of the basic characteristics that differentiate lifestyle brands from non-lifestyle brands is that lifestyle brands succeed in activating and uniting communities. They market the product as a lifestyle or a part of the lifestyle.

    5 Steps to Build A Successful Lifestyle Brand

    • 1. Decide what kind of lifestyle you want to sell
    • 2. Weave lifestyle into your brand
    • 3. Be personal
    • 4. Use content to create experience
    • 5. Build your community

    Just imagine standing in your favorite brand’s store. You would think why this brand makes it in my favorite list? Why should I buy this? How is this going to help me or my charisma? With the initial perception of a product should be such that the consumer is convinced by lifestyle branding.

    In a way or not, we always try to use our money on things that are actually helping them out with their problems for a longer duration and also, building up their aura. I mean, obviously, a guy with Apple iPhone is more technologically-advanced than one with Nokia 1600. We judge everyone with the brands they wear or their lifestyle. Although this is hard to digest, we live for a better life, and that’s how lifestyle brands help to achieve that.

    Lifestyle marketing | Lifestyle Marketing
    Lifestyle marketing | Lifestyle Marketing

    Tips For Creating A Lifestyle Brand

    Lifestyle brands are effective because they appeal to our human need to find a company that embodies our ideals. While there’s no one size fits all guide for lifestyle brand strategy, the following tips could help you to get started on the right track, before you begin your marketing campaign

    1. Do Your Research

    Always keep in mind that your aim is to define your company as an ideal that can help consumers buy what they aspire for. To step up on that, you should have a clear-cut idea about what those goals really are, and which try doing something unique. When you know what kind of lifestyle brands people like, or what identity they want to build; then achieving anything can be made possible. Make a list of lifestyle brands in your area of interest.

    With that information in hand, you can do some research into your marketplace, including:

    • What kind of competitors you’ll be facing.
    • How your name, logo, and visual identity should represent your lifestyle.
    • What kind of brand values your customers respond best to.
    • Where your customers spend most of their time, and what kind of marketing they like.
    • What your brand should never become.

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    2. Build your Personality

    The top lifestyle brands have unique personality traits that travel with them wherever they go. So when you do research on what kind of customer you want to appeal, then that should give you an insight into how that type of person talks and interacts with other individuals in their community. This will make it easier for you to adapt your voice to resonate with your followers.

    Remember, some lifestyle brands even create their own branded buzzwords and language. For instance, employees at Disney World aren’t called staff members, but “cast members”.

    3. Cohesively Demonstrate Your Ideals

    The only thing that lifestyle brands are doing better is, they convey a lifestyle that their customers aspire to be. Whatever you decide your lifestyle brand is going to be like, you need to be willing to commit to your ideas for the long-term. Even the methods you use to communicate through your audience might evolve, make sure that your customers can rely on you to embody their ideals, no matter what. For instance, your brand might be associated with luxury, hospitality, or an adventurous nature, but it includes their aspiration; then it’s easy for them to differentiate between every other brand in the market.

    Ralph Lauren | Polo | Lifestyle Branding
    Ralph Lauren | Polo | Lifestyle Branding

    If you want to create a lifestyle marketing strategy around your brand, you should start by defining the kind of lifestyle you want to sell, then weave that lifestyle into your brand story, engage and interact with your customers, create outstanding, authentic content, and build a community of followers around your brand. People don’t usually buy things, because they need a new pair of boots, they choose that particular brand over others because of the identity it embodies, and the idea it conveys.

    Nike doesn’t exclusively market itself to accomplished athletes. Instead, the company encourages everyone to believe that, with its help, they can all be successful in their health and fitness goals.

    Consumers view the items and services they purchase as an extension of who they are and what they believe in. Lifestyle brands simply build on that concept, by ensuring that they don’t just sell a product, but a set of values that appeal to their target market. Products come and go, but our underlying quest to find ourselves, and become the people we want to be can remain the same for decades.

    At the end of the day, most buying decisions are rarely logical; other than what Indian Mothers make!