Today, writers can reach millions of people around the world by writing blogs. They can earn money by leveraging the Google and Facebook ad models. This might seem a safe option to make money but, it also restricts the creativity of the writers.
Writers are not able to create a direct connection with their readers because they have to constantly think about the on-page and off-page SEO.
Writers know that if they don’t rank their article on the first page of Google they won’t get the traffic due to which they will not earn money. This was a big problem for writers. To put an end to this, Substack was launched in 2017.
Within a few years, it has empowered the relationship between a reader and a writer. It has gained immense popularity and people are loving this platform. Substack has over 5,00,000 paying subscribers.
Let’s understand the business model of Substack and how it makes money.
Substack was founded in 2017 by Chris Best, Jairaj Sethi, and Hamish McKenzie. The headquarters of the company is in San Francisco, California, USA.
It is an online platform that helps writers launch their email newsletter. Writers can earn money by collecting a subscription fee from email newsletter subscribers.
The platform provides all the tools to the writers which allow them to write high-quality content. The best part about Substack is that writers can publish unlimited content for free.
Business Model of Substack
The business model of Substack is simple. It provides all the tools to the writers to write content and earn money through subscriptions.
You can manage your email list, add subscribers, send emails and analyse the analytics. Readers can subscribe to your email list monthly or annually.
Apart from making things simpler, Substack has made the bond between readers and writers stronger in the following ways:
Freedom to Write Content
Page view metrics and advertisers have taken away the freedom to write authentically from the writers.
Most writers feel that their creativity is lost due to these algorithms and metrics. Substack helps the writers to write content on their terms and build a genuine audience.
Writers can keep all their subscription lists and content with them. Substack provides all the editorial and publishing tools so that writers can make engaging content. Most importantly, the platform has provided financial freedom to the writers.
Substack V/S Website
Now, the main question lies in why should someone use Substack instead of simply creating their own website?
See, if you opt for a website you need to think about the domain, hosting, website design, payment integration, funnel management and a lot more. You have to hire a professional website developer to do all of these things.
You have to figure out and make all these arrangements by yourself. Now, tech-savvy people won’t find it tough to do all these. This will also take a lot of time and you also need to invest money. But People who just want to write engaging articles without being involved in all these technical customs use Substack.
Building Trust
Trust is a very significant aspect of any business. Substack helps to build trust between the readers and writers. Due to the newsletter subscription model, writers engage in a one-to-one conversation with their readers as the article is directly sent to the email inbox.
Since there is no algorithm pressure on the writers, the main focus stays on creating quality content for readers. Writers can understand what a reader finds interesting and write content accordingly.
Substack producer, Valerio Bassan quoted, “As a publishing tool, newsletters provide a solid answer to the number one question in media today: how can we rebuild trust between us and our readers?”
Using Substack writers can build their own brands. Emily Atkin who previously worked at The New Republic and ThinkProgress moved to Substack. She is now the author of the climate-focused Substack newsletter. Emily now earns more money as compared to her previous salaried journalism job. She is an excellent example of how Substack is changing the lives of many writers.
Substack makes money by charging a 10% commission to every paid subscriber. So, until you make money using Substack, the platform also does not make any money. The minimum subscription fee is $5 per month to $75 per month.
To make more money the main focus of Substack is to get more writers to produce content on their platform and make those writers earn money.
The subscription model incentivizes the writers to make engaging content and give more value to their readers. Contrast this to an ad model where the incentive for writers was to gain as much attention as possible.
Future of Substack
In the future, Substack may add discovery tools like a recommendation engine which would help readers find interesting content according to their preferences. This will boost the relationship between writers and readers.
Podcasting is another great opportunity. Substack already allows its writers to distribute free podcasts. These podcasts are monetized through ads. Rather than following the ad model, Substack can add a paid subscription option for podcasts. This will help both the company and writers to earn more money.
FAQs
How does Substack work?
Substack helps writers publish their content, build an audience and make money by collecting a subscription fee from email newsletter subscriptions.
How does a Substack subscription work?
A Substack subscription starts from $5 a month and can go upto $75 a month. The price goes up as you increase the number of subscribers.
How does Substack make money?
Substack makes money by charging a 10% commission to every paid subscriber.
Is Substack profitable?
Yes, Substack is profitable as writers can build their brand on the platform and earn money by collecting a subscription fee from email newsletter subscriptions. Writers can leave the platform at the time they want and keep all the subscription lists with them.
Does Substack own your content?
No, all the content you publish on Substack is owned by you.
When you start a business, apart from ideas, funds and a proper plan, you need people to work on that plan and execute it in a perfect way and those people are your employees, they are the driving force of an organization. Your employees are your assets, they are the ones who can make or break your company because a company is as good as its employees.
An employee’s efficiency can be found in the productivity of your business, they serve the customers along with you. Therefore, if you want to keep your business alive, you also need to take care of your employees, not only through monetary terms but from all around. Your internal public is as valuable as your external public.
Recently, Better.Com has fired 3000 employees, without any prior notice. In this article, we will talk about the reason for firing so many employees and what did the company do wrong. So without any further ado, let’s get right into the business.
“Employees are the key to your success with customers. Treat them well!” — Ron Kaufman
Better.com is an American company that provides mortgage lending and financing-related services through its online platform. The company was founded in the year 2014 by Vishal Garg and started its first business, Better Mortgage in 2016.
Vishal Garg, Founder and CEO of Better.com
The company is the direct lender of conventional loans, jumbo loans, fixed-rate mortgages, adjustable-rate mortgages and refinancing loans. The online mortgage company is backed by Softbank.
One of the attractive features of the company is that it does not take loan origination fees while providing loans. The headquarters of the company is situated in New York, United States of America.
Fired 900 Employees Over Zoom Call
Things took a wrong turn when, the digital mortgage company in 2021, on the month of December fired 900 employees over a Zoom Call. In a simple Zoom call, CEO Vishal Garg of the company announced that 900 of the employees, who were part of the Zoom call, are fired from their job.
The sudden terminations of those employees were met with a negative response around the world. The reasons for the termination were the lack of productivity and efficiency of the employees.
The Backlash From the Public
The sudden move by the company and its CEO received severe backlash from the world, as no prior notice was provided to them before their termination and created a negative impression of the company in the business industry.
The move was done after the company received a $750 million cash infusion. Following this incident, the CEO of the company, Vishal Garg stepped down from his position and took a break after being criticized by the public for this step.
After Garg’s break, he returned to his prior position. The situation grabbed the headlines and the action was criticised by general people for being extremely insensitive.
As mentioned above, before firing the 900 employees, Better.com has done a similar deed last year as well. After just a couple of months later, on March 8, Better.com again has sacked 3000 of its employees from their position in the United States of America and India.
The employees received their cheques in the payroll app and the way they got sacked was not at all in a good way as most of their computers got shut down in the middle of their work.
Amanda Bullard, Better.com
Reasons for the Lay Off
The first reason for the termination of the employees is the rise of interest value which has led to a drop in the origination value. The company let 35% of its workforce go. The company again said that efficiency is quite a big concern, so they are also laying employees off for that reason.
Where did Better.com Go Wrong?
The first fault is the lack of communication. Any kind of business need communication, lack of it will lead to problems only. Better.com has done the same thing twice, without having proper communication with their employees, the company is firing them. The employees were not given notice of their termination. This has created a negative impression of the company around the world.
Employees shared their experiences on different social media platforms, which has again created a stir. Bad word of mouth has been spread regarding the company, which somehow is affecting the company’s reputation.
As mentioned before the company is as good as its employees and the employer has every right to fire those who are not efficient enough and are not able to provide productivity. However, firing the employees must be done in such a way that it will not crush them entirely, proper communication is necessary while doing that.
FAQs
Why is Better.com laying off employees?
Better.com laid off employees citing the reason efficiency is a big concern for the company.
Who founded Better.com?
Better.com was founded by Vishal Garg in 2014.
When was Better.com founded?
Better.com was founded in the year 2014 by Vishal Garg.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by POPxo.
POPxo is India’s largest online community for millennial women to read, watch, purchase, and hang out, which was founded in 2015. POPxo brings a welcoming and empowering environment that encourages women to live their best lives.
POPxo is aimed to merge content and commerce, which started as content and eventually had its own private label brand. POPxo’s articles, videos, and social networking material are in six languages – English, Hindi, Marathi, Bangla, Tamil, and Telugu – which has attracted over 39 million monthly users who spend over 3 million hours across all of the company’s platforms.
POPxo also partners with the leading companies to increase its reach and engage its audience. The whole platform runs on the basis of content that fascinates young girls. Furthermore, it also features on its website, Bollywood news, life hacks, retail listicles and more.
POPxo was acquired by MyGlamm’s parent, The Good Glamm Group on August 7, 2020. The six-year-old company’s investors – Chiratae Ventures, Kalaari Capital, and Neoplux Venture Capital have joined the board of MyGlamm soon after the acquisition. Furthermore, Priyanka Gill, the founder of POPxo also joined MyGlamm as a cofounder. Here’s all about POPxo, its Founders and Team, Business Model, Revenue Model, Services, Funding, FAQs, and more.
POPxo – Company Highlights
Startup Name
POPxo
Legal Name
Luxeva Limited
Headquarters
Gurgaon, Haryana
Sector
Beauty, Health & Lifestyle
Founded
March 2014
Founders
Priyanka Gill and Namrata Bostrom
Parent Company
The Good Glamm Group
Operating Revenue
$1.61M in FY19
Funding
$12.4 mn (2021)
Number of Employees
251 to 500
Website
www.popxo.com
Popxo – Latest News
January 24, 2022 – Popxo parent, The Good Glamm Group acquires Organic Harvest, a beauty and personal care D2C startup led by Rahul Agarwal.
October 1, 2021 – Popxo enters the Indian cosmetic industry with a Makeup Collection from Myglamm.
POPxo has been founded in 2014 as India’s largest online community for women that offers discussions, content, and products across a wide range of domains including fashion, beauty, lifestyle, work, and more. Founded by Priyanka Gill and Namrata Bostrom, PopXo offers millennial women an excellent platform where they can read, watch, shop, and hang out. Along with exclusive products across brands, PopXo also offers text and video content in a manner that is accessible via social media on mobile and PCs across the web. PopXo has last reported having crossed the 9 million mark in terms of user acquisitions every month and has boasted of witnessing over 102 million monthly engaged content views.
Popxo was acquired by MyGlamm in August 2020 and has since served as a subsidiary of MyGlamm, which eventually turned into The Good Glamm Group in September 2021. The Popxo parent, MyGlamm includes The Moms Co, St Botanica and Sirona, along with other content platforms – POPxo, Scoopwhoop, and BabyChakra, as per January 2022’s reports, and has already turned unicorn in November 2021, thereby being hailed as the first beauty commerce unicorn company of India.
Popxo – Industry
The Indian industry comprised of online personal care and beauty brands and products are estimated to reach $4.4 billion by 2025. There is also likely to be a 4X increase witnessed in the number of shoppers of beauty and personal care products online, which was last reported to be 25 million in FY20 and would be going up to 110 million in FY25.
Popxo – Startup Story
The Popxo is founded by two dynamic women – Priyanka Gill and Namrata Bostrom. During 2012-13 there was no content platform at scale in English for women. So, this was the point when they thought of creating a useful platform for women and began Popxo in March 2013. Priyanka Gill first started Estylista in September 2013 in London for the NRI women, which is popularly known as the base of PopXo. For the first few years, the company started working out of London and raised its first institutional round of funding.
Initially, Popxo created content that enthused women who love to delve into fashion, beauty, lifestyle, wedding, relationships, work, fitness et cetera. The most popular things that attracted women to the Popxo website are hair and skin protection, and other products.
The greatness of the website lies in the production of 1500+ articles in six languages that the Popxo website was last recorded to be publishing every month. The team understood the audience well and presented articles in the same way, which lead to content creation to adding relevant videos. Today, the platform produces 60-70 videos a month and generates 100-150 million views a month. The duration of videos is between 3-7 minutes. Furthermore, they even produce web series.
Priyanka is the Co-Founder and President of MyGlamm and the Founder and CEO of POPxo and Plixxo. She lives in London with her husband and two children as a digital media entrepreneur and storyteller. She enjoys working with creative and entrepreneurial people, particularly women, and considers it a privilege to be in their company. She is now enrolled in a joint London Business School and Columbia Business School EMBA – Global program, said her Linkedin profile post dated May 24, 2021.
Her passion for writing merged with entrepreneurship when she started her own site, Estylista, which is now known as POPxo. She returned to India in 2014 to create POPxo, envisioning her company as a safe and engaging community that helps Indian women lead their lives. Influencer marketing seems to be on the verge of breaking out in India. As a result, she began developing a tech-enabled platform to take advantage of this enormous opportunity. Plixxo was released in 2017 and is powered by PopXo. It was here that India’s first generation of influencers grew up. Priyanka Gill has experience serving as a freelance writer and editor and an investor and board member for several companies. She eventually served as an advisor at PolkaRare and a seed investor of Kalamint, a role that she is still continuing with. She co-founded The Good Glamm Group on Darpan Sanghvi and Naiyya Saggi in September 2021 initially with the merger of MyGlamm, PopXo, and BabyChakra.
POPxo’s Plixxo also joined MyGlamm, India’s premier beauty conglomerate, in 2020, marking a watershed moment and a watershed year. Three powerful brands merged to form one incredible enterprise that goes by the name The Good Glamm, the parent company of MyGlamm in August 2020 and since then, Gill has been appointed as the Cofounder of the latter.
Namrata Bostrom was the co-founder of PopXo, who has also been the CEO of the company as well from the initial phase of the company and stepped down from the role in March 2017. Bostrom is an Economics student who has The University of Oxford and London Business School as her alma mater. Bostrom earlier served as a Consultant at The Boston Consulting Group, and as a Sales and Product Strategist at EDITED before co-founding PopXo. After leaving the role at PopXo, Namrata joined Facebook, the company that she is still aligned to as the Product Management Lead.
PopXo initially had a team of 15 people working together, which eventually grew to include more than 200 employees strong.
POPxo Founder and CEO – Priyanka Gill talks about POPxo
PopXo’s vision has always been “to build a content-community-commerce platform for women.”
The mission of the company was to help the users find their inner natural glow. Now, as a part of The Good Glamm Group, PopXo’s mission is aligned with the mission of its parent, which aims to build the global Digital FMCG Conglomerate of the Future.
Popxo – Name, Tagline and Logo
PopXo Logo
PopXo’s tagline has said, ‘Take it up a POP!’ – and we live and breathe it with everything we do.
Popxo – Business Model
Popxo targets millennial women aged between 18-35 with a range of products across diverse industries including fashion, beauty, lifestyle, wedding, wellness, and entertainment. The company has recently forayed into the cosmetics industry. The social community platform for women has entered the cosmetics industry, which is currently valued at $20 billion with a Makeup Collection by MyGlamm. MyGlamm has acquired Popxo towards the end of last year, and this development has come almost a year after that.
This new makeup collection is termed POPxo Makeup Collection by MyGlamm and will include nail kits, face kits, eye kits, and lip kits in order to cater to all makeup needs. The entire range is reported to be priced under Rs 499 per product in an effort to stay within the affordable limits for younger women. The Popxo Makeup Collection powered by MyGlamm will be sold on the MyGlaam app and website along with being available at popular company stores and kiosks across the country.
Popxo – Revenue Model
Sponsored content is the initial source of revenue. The company approaches brands and claim to have a large audience. Popxo knows what people want and can assist you in selling. The company made content for them, including social media and video content. That comes first while influencer marketing comes in second. Ads come in third, and e-commerce comes in fourth.
Popxo’s money comes from sponsored material, which accounts for half of our total. Influencer marketing accounts for 40% of income. They started selling online in the fourth quarter of the previous fiscal year.
Fashion– POPxo allows you to stay up to speed on the latest fashion trends by reading fashion articles and watching videos. Thefashion experts of the company provide the users with everything they need to stay on-trend, from styling advice to shopping hotspots and must-have items. The platform also offers the latest news on fashion in both western and Indian. It also provides the best tips and fashion hacks that suit you. This platform also offers the latest updates on celebrity attires (both Bollywood and Hollywood).
Beauty– The team of beauty specialists is committed to providing the users with the best services available in the industry. The beauty section has it all, from unbiased product reviews to makeup hacks to skin and hair care advice. The users get updates on skincare, makeup, hair, bath & body, nails, hair products, beauty products and DIYs.
Lifestyle– POPxo also offers related content from a wide range of topics. It provides the consumers with popular articles across all categories, from travel and education to sex and relationships.
Wedding– Wedding planning can be as stressful as you imagine, which is why Popxo is also there to assist. The wedding area keeps young brides-to-be up to date on the latest trends. POPxo has all you need to know about weddings, from bridal makeup to honeymoon ideas.
Wellness– Overall wellness, according to POPxo, is at the heart of a healthy lifestyle. So, if the consumers want to live a healthier life, check out Popxo’s wellness section which has articles on managing stress and maintaining a healthy lifestyle.
Entertainment– Popxo will make sure the users get the best of everything from the comfort of their homes on laptops or mobile phones, from movie recommendations to what’s going on in the lives of their favorite celebrity.
Popxo is home to all feminine things. POPxo’s online store, which includes items such as home decor, beauty, clothes, face masks, mobile accessories, stationery, rakhi presents, and more, is an attempt to make online shopping for women in India more enjoyable!
POPxo has raised a total funding of $12.4M in over 7 rounds of funding. POPxo is funded by 21 investors. Neoplux, IDG Ventures, Summit Media, Oppo, Kalaari Capital, STRIVE, Chiratae Ventures are the lead investors of POPxo.
Date
Round
Amount
Lead Investors
Apr 25, 2018
Series C
$5M
Neoplux, Oppo
Mar 1, 2018
Series B
$750K
–
Mar 16, 2017
Series B
$3.3M
Chiratae Ventures, STRIVE
Nov 5, 2015
Series A
$2M
500 Startups, Chiratae Ventures, Kalaari Capital
Nov 1, 2014
Angel Round
$500K
—
Jul 1, 2013
Seed Round
$300K
—
Popxo – Growth
PopXo grew considerably with a well-knit team of 33 people in its textual content team. Let’s look at some of the prominent milestones that PopXo managed to attain throughout the years:
It has drawn over 39 million users per month
PopXo has delivered content in over 6 languages
The startup has seen over 10.18 mn visiting its content across the mobile app in a month
PopXo claims to have 1.6 bn monthly social media impressions
Popxo – Startup Challenges
Founded by Priyanka Gill and Namrata Bostrom, ideating, founding, and growing PopXo was difficult for two independent women entrepreneurs, which both of them managed really well, earning themselves quite a name in the industry. The first challenge for PopXo was to expand the content it produced and the kind of content produced by the website. The challenge that followed was the creation of an app. Even here PopXo absolutely nailed it. The website witnessed an overwhelming 500K initial downloads!
Popxo – Competitors
Though Popxo, when it was launched, was the sole platform focused on confident and educated women, which speak to them directly without taking down to them, PopXo has been a lot of companies competing with it once it started achieving milestones. Some of the PopXo competitors can be noted as:
ScoopWhoop
Polka Cafe
BuzzFeed
The Business of Fashion
nippon.com
Luxe Radio
The Canberra Times
Popxo – Future Plans
Popxo forayed into the beauty segment with POPxo Makeup Collection by MyGlamm, where both MyGlamm and PopXo are a part of The Good Glamm Group in October 2021 and is currently targeting a revenue run rate of Rs 100 crore in the upcoming 12 months.
Popxo – FAQs
What is POPxo?
POPxo is an Indian online platform specially for women to read, watch, shop and hangout. POPxo covers content related to beauty, weddings, health and lifestyle.
Who started POPxo?
Priyanka Gill has founded POPxo in 2015.
Who is the owner of MyGlamm?
Darpan Sanghvi owns MyGlamm.
Does POPxo creates videos along with content?
Yes, POPxo is able to create over 2000 pieces of content along with 150 videos, 800 stories and a large number of social media graphics.
In the past few years, many online mutual fund investment portals like Niyo Money (Goalwise) and Scripbox have come about which have simplified the process of investing for individuals. This has been mainly beneficial for investors and now gone are the days where people don’t have to go bank branches in order to be able to invest in Online Mutual Funds.
However, before you begin investing, you need to do research on which online mutual fund you want to invest in and think about the purpose of the investment and when you need the money back. Based on that, you need to know how much to invest in equity, how much in debt, and how all of this ties in with your financial goals in life. This article will help you choose a mutual fund platformaccording to your needs.
One of the key advantages of investing in a mutual fund is that each investor (even with a small investment) gets access to professional money management and expertise. Also, it would be very difficult for an investor to create a diversified portfolio of investments on his own with a small amount of money. With mutual funds, each investor participates proportionally in the return the scheme generates.
Each unit gets a proportional share of gain (or bears loss) from the fund. There is a portfolio report generated for each investor, which tracks all investments and the returns generated by the mutual fund. Investors can draw their money any time they want, also they can invest small amount.
Goalwise is an online wealth management platform that allows users to buy and invest in direct mutual funds. Goalwise headquarters is in Bengaluru, Karnataka. Goalwise has been a Subsidiary of Finnew Solutions Private Limited since July 2020. Goalwise has received a total of $1Million in funding. Goalwise main competition is Kuvera, Groww, and ETmoney.
Niyo Solutions acquired Goalwise in July 2020. The company plans to launch international and domestic stocks, Robo-advisory, and auto-invest products in the next few months. Now they have started offering zero commission investment.
It is a new age mutual fund investing platform which provides goal-based investing for investors looking to invest in direct mutual funds. With Goalwise one can easily set up SIPs or invest a large amount in the mutual funds chosen by its algorithms. If someone is a first-time investor looking to get started quickly as well as experienced investors looking for planning and automation.
The Goalwise app has features like automation in fund selection and switching, automation in asset allocation based on the goal time horizon. The app is also highly customization to suit the needs of every individual investor.
Company Name
Goalwise
Headquaters
Bengaluru, Karnataka
Founded On
2015
CEO
Swapnil Bhaskar
Annual Revenue
$1.2M
Sector
Consumer Finance & Credit Cards
Brief on Scripbox
Scripbox is an online platform that allows users to invest in mutual funds. Scripbox is headquarters in Bengaluru, Karnataka. The founder and CEO of Scripbox is Atul Shinghal, while the investors including Trusted Insight, Omidyar Network, and Accel Partners. Scripbox’s main competitors are FundsIndia, Fisdom, and Groww.
As of August 2019, Scripbox has 413.9 thousand fans on Facebook and 2.4 thousand followers on Twitter. Scripbox is a user-friendly app-based investment platform that makes investment completely hassle-free. One can start a SIP or make a one-time investment with the help of Scripbox. It is a great app for beginners as it also automates most of the investment process through its scientific and unbiased fund recommendation. It is the only app which has algorithm that reduces Long Term Capital Gain Tax at the time of withdrawal. Scripbox also generates capital gain tax statement that will us male tax return or annual IT return. Also they do not charge for services.
Company Name
Scripbox
Headquaters
Bengaluru, Karnataka
Founded On
2012
CEO
Atul Shinghal
Annual Revenue
$1.5M
Sector
Consumer Finance & Credit Cards
Direct Mutual Fund Investment
The mutual fund investment you do with the help of a broker or financial advisor includes an extra 1% which is paid to the broker or financial advisor. So some mutual fund plans are called regular plans. You should read about the expense ratio to learn how your broker, commission agent and distributor agent, and distributor make money when you invest in mutual funds.
With Goalwise, you will be investing only in direct mutual fund plans and will be earning an extra 1% on your overall investment. Scripbox however has an algorithm that creates a basket of ten mutual funds. The firm claims to make mutual fund investment simple and jargon-free for investors with no financial background. It also allows the customer can keep a check on their portfolio from their mobile or computer.
Types of investments provided by both Goalwise and scripbox
One of the challenges of mutual fund investing is to find the right mutual funds to invest in a lot of them are dependent on friends, network, and information on the web to find the right mutual fund. However, the bigger challenge is to know when to get out of a particular fund. Goalwise has a wide fund selection criteria and also tries to solve this problem by using data to suggest mutual funds.
When it comes to Scripbox it has more than 8000 choices in the market with seasoned investors which will give a tough time in deciding which to invest in. The Scripbox algorithms choose to perform mutual funds basis on their historical performance.
Goal Based Investing
Goal-based investing is one of the smartest ways to grow wealth and achieve all your life goals. A lot of the first time users are not aware of goal-based investing and they then focus on growing their money that is what Goalwise is known for as it is goal-based investing. When you tie up your investment with a goal, you are more likely to be happier.
Scripbox on the other side provides growth with the principle of safety. In scripbox money is first invested in liquid funds. A fixed portion from this is then invested each month in index funds. The benefits of this are:
Security and stability similar to FDs
Better taxation than FDs thanks to indexation
Better returns than FDs
Full flexibility to stop or withdraw anytime
Glide Path Strategy
The glide path formula is a methodology by which asset allocation is achieved as your portfolio changes every time. Let’s understand this with a simple example from Goalwise and Scripbox :
In Goalwise: One of your goals is to have 40 lakh for child education in the next 6 years. Based on your risk profile the initial investment will be 60% equity and 40% in debt instruments. All your SIP will be done to get exposure in the 60:40 ratio in the equity debt market.
By the final year, your exposure on Equity: Debt ratio would be 0:100%. This is to ensure your investment is safe from market volatility and you receive your goal amount, despite the market going down. Goalwise automates this process and makes it easier for you to maintain asset allocation based on your goal time frame.
Whereas at Scripbox they have a practical action plan in place to create your child’s college education fund. In Scripbox it starts out with the right Financial Goal where they will help you estimate the amount you will need for your goals taking inflation into consideration. After that, they will create a customized financial plan for your child’s college education.
This plan will be based on the type of college, start date, your current savings, and the potential increase in your income. It will then make the right investments by deciding on the right mix of investments that are suited for the customer’s goals and their personal preferences.
Ease to us
The best part about Goalwise apart from being free is, it requires only a one-time setup. It is a complete set it and forget it kind of system. You can revisit anytime and make changes if required. However, the best thing to do is to set it up once and keep investing.
With Scripbox it is one click investment where one can choose between SIP (systematic investment plan) and OTI (one-time investment) and invest in the recommended top mutual funds in India with a single click. You can stay on track with your investments and also inform you in case you need to change your selection.
Transfer Plans
In Scripbox if you want to invest a large amount in equity, If you want to invest a large amount in Equity, but also want to reduce the impact of volatility, this plan is ideal for you. Instead of keeping your large amount in your bank account, park it in liquid funds which grow 2-3% faster.
And most importantly it is flexible. You can stop, and restart, your STP at any time. In Scripbox the amount is fully invested into Liquid funds. Then, every month, a certain amount is moved from these Liquid funds into Equity funds.
The transfer plan in Goalwise allows you to switch from regular fund to direct fund. With Goalwise, you could track all your external investments and see which all regular funds you have invested in. You can also move all mutual funds investment to Goalwise.
So you decided to start using Goalwise and also move all your funds from other brokers/distributors to the Goalwise platform, you could do that with just a few clicks. If you ever feel you are stuck with your existing mutual fund advisor, a feature like this makes it easier for anyone to take control of their funds.
FAQ
Are the mutual funds picked by Goalwise and Scripbox always the most profitable ones?
Every fund selection process goes through underperformance. As these services use AI, the pick would be the most accurate one. But the stock market is highly volatile, nothing is predictable. There will be ups and downs in the short term.
What is mutual fund SIP?
A SIP or a Systematic Investment Plan allows an investor to invest a fixed amount regularly in a mutual fund scheme, typically an equity mutual fund scheme.
Which one is better Scripbox or Goalwise?
Goalwise provides you a goal-based investing and it takes no commission. There are no hidden charges and no account opening and managing charges as well. This means it is completely free. Other services like Scripbox use hidden charges to get money. So, Neo Money(Goalwise) is better.
How does wealth tech company make money?
They apply hidden charges, account opening, and managing charges. Also the premium plans.
Owning and maintaining an online business gives entrepreneurs the freedom to make money from anywhere in the world. The most important step in starting a profitable online business is to find a business idea that matches your skills and strengths. There are so many different online business ideas out there to start small businesses online. In reality, “online” is just a channel that connects businesses to people. It’s a powerful tool that lets you reach anyone from anywhere in the world.
The beauty of the internet is that you can quite literally launch a business and make money online with very little to no capital. If you understand the mechanics of online marketing. In today’s connected world, where technology affords us more flexibility in how and where we work. Find a product idea or business model that fits your lifestyle.
Number of Internet Users
1. Chatbot Businesses
Chatbots have recently become quite popular. They are being used by businesses to provide proactive assistance to their customers. Chatbots are the biggest marketing trend to emerge in marketing. Chatbots leverage chat mediums like SMS text, website chat windows, and social messaging services across platforms like Facebook and Twitter to receive and respond to messages.
2. Ad Management Business
If you do understand the mechanics of paid advertising, then you could easily launch an ad management business. Paid advertising on popular social networks like Facebook, Twitter, and Instagram is another attainable and effective way to advertise your small business. The earlier you capitalize on this industry, the quicker you can build it into a stable online business.
The vacation rental business is booming. Airbnb is the first name that comes to our mind while talking about vacation rental accommodations. You can provide a wide range of vacation rental choices across your locations. It’s very important to focus on different channels for marketing your website.
5 keys for a stable vacation rental business:
Build relationships with your guests
Your relationship with your owners
Your branding and marketing strategy
Your local network
Unique selling point
4. Webinar business
A webinar is a presentation where a host shares information with an audience. The information can be anything. Running a webinar business can be a powerful and effective online marketing tool to help you reach your audience.
More than 60% of B2B marketers use webinars to educate their audience.
Five reasons you should use webinars:
You can reach people from anywhere in the world
Your audience can interact directly with you
You establish trust
You gain leads
You gain a huge source of inspiration
5. Business Coaching
Business coaches have typically experienced entrepreneurs and business owners themselves who decide to use their talents for building and growing a business to help other business owners reach their goals. Business coaches serve as both trainers and mentors, training you in the skills you need to be successful in your business and serving as a source of information. Any successful career in business coaching starts with a defined goal setting.
6. Affiliate Marketing
Affiliate marketing is one of the most popular ways to monetize online content. Affiliate marketing is pretty simple and can be very successful if you start in the right way. The key to maximizing your affiliate earnings is to provide additional value and to engage your readers. The most successful way to use affiliate programs is to only promote products, services, and offers that match the needs and wants of your audience. If you aren’t an online marketing expert yet, you can still use affiliate marketing and learn over time.
A blog is a tool that can help develop an online presence, attract leads, and engage with an audience. Blogging is an easy job but maintaining your blog is tough. Blogging creates brand trust and nurtures relationships with current or future customers. The key is that you want to post original content that is useful to your target audience and to post regularly.
Some tips to start blogging:
Choose the right platform
Find the perfect domain name
Choosing the right hosting is very important
Always keep regular backups
Setup Google Analytics
Set up a professional branded email address
Start building an email list right away
Setup unique contact forms for each use case
Pay attention to image copyrights and licenses
Onsite SEO optimization is important for growth
Online Business
8. SEO Consultant
An SEO expert is someone that knows how SEO works and how to apply SEO to increase the rankings of a website in Search Engines. Before even starting to think about SEO, the first step you need to take is to familiarize yourself with how search engines work. SEO professionals help to increase your traffic and conversion rates, but they’ll free up your time to focus on more important things, like running your business.
Advantages of becoming an expert on SEO:
Increase your rankings and traffic
Less dependency on SEO agencies
Decrease costs
Make better decisions like who to hire to work on your SEO
Highly recommended for Marketing managers
No business can survive online without SEO
9. Small Business Consultant
A small business consultant provides business owners with resources, advice, and planning designed to improve an organization’s performance and efficiency. A small business consultant works with clients on strategy, planning, and problem-solving, and helps clients develop business skills and knowledge.
Consultant specializes in certain topics such as:
Accounting
Operations
Human resources
Management
Marketing
Public relations
Finance
Insurance
Product development
Manufacturing
Fundraising
10. Social Media Consultant
There are many advantages to becoming self-employed. Generally, you’re able to decide on your schedule, workload, and wages. Businesses and individuals turn to social media consultants when they need help managing their social media channels.
Focus on quality
Analyze data to find the perfect quantity
Be charming
Use scheduling tools
Automate repetitive tasks with If This, Then That (IFTTT)
Websites have become a critical component for businesses to stay competitive. Web design refers to the complete designing of a website and makes it visually artistic and functional at the same time. Web developers analyze user needs to ensure the proper content, graphics, and underlying structure are used to meet both the goals of the user and the website’s owner.
Web development job titles:
Front-end developer
Back-end developer
User experience (UX) designer
User interface (UI) developer
Software developer
12. App Developer
With smartphones upgrading every month, mobile app development has become a job.
Analyze the market
Understand the ongoing trends
Decide a suitable namespace
Ensure your app meets your idea
Build with the right category
Choose the right platform
Use the right icon
Test your app more often
App monetization strategies
Optimize your app
Offline availability
13. Tutoring Business
The tutoring industry has seen an unprecedented boom in 2020. Tutors help students keep up with course material, prepare for big exams, and improve their academic development. One of the great things about starting tutoring business is you can start small and then expand gradually as you gain more clients.
Consider these following aspects before starting tutoring:
Identify your niche
Determine your service area
Get certified
Set competitive pricing
Utilize a tutor management system
14. YouTube Channel
The most important thing you’ll need for a successful YouTube channel is something you most likely already have, an understanding of who your audience is, as well as what kinds of things they may find valuable.
Plan your content
Use with the right equipment
Look for inspiration
Make every second count
Start with simple editing software
Optimize your videos
Build your network
Connect with your viewers
Ignore all the negative comments
Upload videos regularly
15. Become a Freelance Writer
A freelance writing career takes hard work, good time management skills. Freelancers offer their writing services to different clients and often work across a variety of genres. Freelance writers can also write for different types of clients. Freelance writers can work full-time or part-time at home or in an office. Some freelance writers have a contract with several different clients.
Mahenoor Mansuri
