‏إظهار الرسائل ذات التسميات startup resource. إظهار كافة الرسائل
‏إظهار الرسائل ذات التسميات startup resource. إظهار كافة الرسائل

Top U.S. Visas Every Indian Startup Should Know About

Top U.S. Visas Every Indian Startup Should Know About

As India experiences a growing hub of startups, many entrepreneurs wish to explore means to lawfully enter U.S. markets to expand these startups.

Three leading visa options for this purpose are the new office L-1 visa, the O-1 visa, and the EB-1A visa.

While for some individuals there may be more than one viable option, it’s important to familiarize yourself with the similarities and differences between these visa categories to choose the best option.

In this article we will dive into each visa category in detail.

NEW OFFICE L-1 VISA

First, there is the L-1 visa — specifically, the new office -1 visa.

The L-1 nonimmigrant visa classification is for intracompany transferees who have worked abroad continuously for one year within the past three years and will be employed in the U.S. by branch, parent, affiliate, or subsidiary of their current employer in a managerial, executive, or specialized knowledge role.

The L-1 visa being a non-immigrant visa essentially means that the visa is meant to secure temporary legal work authorization in the United States rather than permanent residency (i.e., getting a “green card”).

However, the L-1 visa is “dual intent,” which means that, unlike some other nonimmigrant visas, it is lawful to contemplate an immigration pathway when applying for the visa.

For intracompany transferees who wish to come to the U.S. in a managerial or executive capacity, the relevant visa classification is an L-1A; for intracompany transferees who wish to come to the U.S. in a specialized knowledge capacity, the relevant visa classification is an L-1B.

L-1A applicants are typically allowed to enter the U.S. to work for an initial period of three years, subject to two 2-year renewals for a total of 7 years. Comparatively, L-1B applicants are also allowed to enter the U.S. to work for an initial period of three years, but can only renew their visa for one 2-year renewal for a total of 5 years.

The new office L-1 visa matches the same renewal and total year duration as other L-1 visas, but a key difference is that the initial entry period for a new office L-1 is one year.

This also means that for Indian startups looking to establish their initial presence in the U.S., the new office visa L-1 is the pathway to go.

For startup personnel looking to secure a new office L1-A visa petition, the following pieces of evidence must be established:
  • Adequate physical premises have been secured to house the new office;
  • The L-1 beneficiary employee has worked continuously for one year within the three years prior to the petition filing in an executive or managerial capacity, and the proposed L-1 employment will involve executive or managerial authority over the new operations in the United States;
  • The intended United States operation will support an executive or managerial position within one year of the L-1 petition's approval (which can be supported by the U.S. entity’s structure, its financial goals, and its available investment from the foreign entity).
For a new office L-1B visa petition (which would generally be less common than a new office L1-A visa petition for startups, but may well include individual employees coming to work at the new U.S. office in a specialized knowledge capacity and who otherwise qualify), the U.S. petitioning employer must provide evidence that:
  • Adequate physical premises have been secured for the new office;
  • The business entity in the United States is or will be a qualifying organization (i.e., branch, parent, affiliate, or subsidiary of the foreign entity);
  • The U.S. petitioning employer has the financial capability to compensate the L-1 beneficiary employee and to begin business operations in the United States.

O-1A VISA

Next, there is the O-1A visa.

The O-1A visa is designed for individuals and entrepreneurs who demonstrate extraordinary abilities in fields such as science, business, art, education, or athletics.

The O-1A visa, like the new office L-1 visa, is a nonimmigrant visa. Similarly, it also is “dual intent.”

O-1A applicants are typically allowed to enter the U.S. to work for an initial period of three years, subject to indefinite 1-year renewals.

However, the requirement for a sponsoring employer is slightly different.

Whereas the L-1 visa requires a sponsoring employer from the U.S. counterpart of the foreign office to petition on behalf of the beneficiary employee, the O-1 visa allows for a U.S.-based “agent” to do so (who must be your employer, a representative of the employer and beneficiary, or someone specifically authorized by the foreign employer).

Supporting documentation for an O-1A petition must demonstrate that the beneficiary has received a major internationally recognized award (such as the Nobel Prize) or meets equivalent evidence.

EB-1A VISA

Lastly, there is the EB-1A visa.

The EB-1A visa is an employment-based immigrant visa available to non-U.S. citizens with extraordinary ability in the sciences, arts, education, business, or athletics.

Essentially, the EB-1A is the “green card version” of the O-1A visa leading to permanent residency within the U.S.

To demonstrate sustained national or international acclaim and recognition in your field, the applicant must provide evidence of either a major internationally-recognized award or meet at least three of ten criteria (or equivalent evidence if any criteria are not applicable) listed on this website.

PROS & CONS OF EACH VISA CATEGORY:

In conclusion, which of these three visa categories works best for startups depends on weighing the pros and cons of each and applying them to the facts of a particular situation.

New office L-1 visa:

Pros:
  • Beneficiary does not need to establish any sort of demonstrable excellence in their field in order to qualify;
  • Dual intent;
  • Can open a new office in the U.S. which is not currently operational;
  • Easy transition to a green card (i.e., EB-1C) for new office L-1A category;
  • Spouse and unmarried children under 21 can work;
  • No numeric caps in available visas.
Cons:
  • Initial entry period of only one year;
  • Limited maximum duration (7 years for L-1a visa and 5 years for L-1B visa);
  • Requires to have worked for a foreign employer for one continuous year within the last 3 years (even if this is one’s own startup);
  • Generally must have substantial revenue/capital to fund new office, employees, business expansion, etc.;
  • Green Card pathway not possible for new office L-1B category (EB-1C visa requires that the beneficiary’s employment for the foreign company must have been in a managerial or executive capacity).

O-1 visa:

Pros :
  • No need for a physical office presence either abroad or in the U.S.;
  • Initial stay period of three years with indefinite extensions;
  • For startups, no need to necessarily be generating revenue or have significant investment before the founder can qualify for an O-1A (so long as three of the eight above-mentioned criteria are satisfied).
  • No numeric caps in available visas.
Cons :
  • Must meet specific criteria of excellence for extensions which must be maintained annually (since extensions are in 1-year increments);
  • Pathway to green card (i.e., EB-1 visa) comparatively more difficult to substantiate since — despite similar requirements for the O-1A and EB-1 — the standard of review for the EB-1A is subject to higher scrutiny (e.g., USCIS may consider a certain VC startup investment sufficient for “award” O-1A purposes but not for EB-1A purposes; similarly, they may be satisfied with media coverage/promise for the O-1A but want to see documented achievements for the EB-1A).
  • Spouse and unmarried children under 21 cannot work.

EB-1A visa

Pros
  • Leads to U.S. permanent residency/”green card” (which itself generally leads to citizenship within 5 years);
  • You do not lose your visa if you have your employment terminated;
  • No numeric caps in available visas.
  • Spouse and unmarried children under 21 can work (since they get their own green cards).
Cons
  • As noted above, the standard of scrutiny for an EB-1A is subject to higher review than an O-1A nonimmigrant visa (for this reason, it is recommended to generally opt for an O-1A visa first — especially since eligible criteria can further develop while in the U.S. on O-1A status).

DigitalOcean Launches Serverless Solution for Startups & SMBs

DigitalOcean Launches Serverless Solution for Startups & SMBs

New offering enables developers to build applications without having to manage cloud infrastructure

According to IDC’s IaaSView buyer survey, 25% of cloud IaaS buyers intend to utilize serverless functions in the next 12 months

DigitalOcean Holdings, Inc. (NYSE: DOCN), the cloud for developers, startups and SMBs, today announced the launch of its new serverless solution, DigitalOcean Functions. DigitalOcean Functions will enable fast, scalable and cost-effective compute solutions that will allow small businesses and startups to build quickly, scale automatically, and save costs by eliminating the need to maintain and provision their own servers.

“Serverless functions have been one of our most common customer requests,” says Gabe Monroy, Chief Product Officer of DigitalOcean. “That's why last year we acquired Nimbella, a leading serverless platform, and have been focused on seamless integration with our cloud. DigitalOcean Functions will allow builders to spend less time maintaining their infrastructure and more time creating and scaling software that changes the world.”

Despite the proliferation of cloud computing in recent years, developers — particularly those in small businesses and startups — often complain about the considerable effort and cost involved in provisioning and scaling server infrastructure. DigitalOcean Functions will enable developers to build or expand their apps quickly without needing to manage the underlying infrastructure. Instead, applications will be able to scale automatically and instantly based on demand, making the solution ideal for unpredictable workloads.

According to IDC’s IaaSView buyer survey, 25% of cloud IaaS buyers intend to utilize serverless functions in the next 12 months — one of the highest rates of planned adoption compared to other adjacent cloud services. DigitalOcean Functions is uniquely positioned to serve the needs of individual developers and businesses by providing:
  • A unified and integrated experience for apps that require long-running servers and on-demand functions
  • A developer console to test functions prior to pushing to production
  • Seamless integration with DigitalOcean Managed Databases
  • Support for common languages and runtimes
“DigitalOcean Functions is a great blend of flexibility and ease of use that allows my team to keep all projects under one provider,” says Jonathan Hsu, Director of Customer Success at Zerion Software. “It enables us to quickly add serverless APIs to our website resulting in increased team productivity and faster time to market.”

"By adding native serverless tools and functions to its compute portfolio, DigitalOcean can begin to capitalize on this growing demand from IaaS buyers,” says Andrew Smith, research manager, Cloud Infrastructure Services at IDC. “The central tenet of DigitalOcean Functions is simplicity — in pricing, deployment, utilization and integration with other DigitalOcean services such as App Platform and Managed Databases. This simplicity should appeal well to DigitalOcean’s core customer base, including developers, startups, and SMBs looking to utilize serverless computing in order to abstract their infrastructure resources and focus on modernizing their applications and workloads.”

DigitalOcean Functions is available now in all DigitalOcean data center regions. Read more about pricing and availability here.

About DigitalOcean

DigitalOcean simplifies cloud computing so builders can spend more time creating software that changes the world. With its mission-critical infrastructure and fully managed offerings, DigitalOcean helps developers, startups and small and medium-sized businesses (SMBs) rapidly build, deploy and scale applications to accelerate innovation and increase productivity and agility. DigitalOcean combines the power of simplicity, community, open source and customer support so customers can spend less time managing their infrastructure and more time building innovative applications that drive business growth. For more information, visit www.digitalocean.com or follow @digitalocean on Twitter.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may be identified by their use of terms and phrases such as “anticipate,” “enable,” “expect,” “will,” “believe,” “continue” and other similar terms and phrases. The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated by these forward-looking statements, including those factors contained in the “Risk Factors” section of our SEC filings. It is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this release. The results, events and circumstances reflected in the forward-looking statements may not be achieved or occur

Secrets To A Solid Tech Startup Business Plan

Secrets To A Solid Tech Startup Business Plan


According to studies, writing a business plan makes your tech startup 16% more likely to succeed. It’s also estimated that over 70% of fast-developing companies have detailed business plans. This is not surprising, especially when you consider that this powerful document can help you with everything from:
  • Data-driven decision-making
  • Creating action plans, with goals and milestones
  • Testing the viability of new ideas
  • Bringing new ideas to the table
In short, a well-crafted business plan can be a very effective management tool that will allow you to keep track of your progress and make more money for your business.

To help in that regard, read on to discover the secrets to a solid tech startup business plan to ensure your growth and expansion.

1. Executive Summary

Writing a business plan for your tech startup sounds like an easy task.

All you have to do is create a detailed document outlining your business objectives and the process for achieving them, right?

Unfortunately, it's not that simple to create a persuasive tech startup business plan that is highly accurate.

You need the right approach and the ability to put together the essential elements - one of which is an executive summary.

This is the first and arguably the most important element in that structure.

It’s a short, clear, and concise document that communicates everything about your business.

The document should be able to stand on its own.

Here are some tips for a well-crafted executive summary:
  • Use strong, positive language.
  • Include your mission statement in one short paragraph.
  • Include general company information (when your business was formed, names and roles of founders, office locations, number of employees, etc.)
  • Include a brief description of your products or services and your target customer base.
If your goal is to get funding, include your funding goals and any financial information about previous loans or the banks/lenders you've worked with, etc.

Add visual highlights such as charts and graphs pertaining to business growth or key milestones.

Pro Tip: Y
ou can use an online chart maker, or if you can’t create the graphics yourself, you can hire a freelancer to do it for you.


The process for writing an executive summary is the same whether your company offers simple e-learning software or complex technology.

2. Company Overview

A lot of people mistake the company overview for the executive summary. Just as many mistake a business proposal for a business plan.

However, there are distinct differences between the two.

The company overview offers a more detailed, top-level view of your tech business structure and what you do.

Here are some tips to help you draft a great startup overview:

  • Describe what your company specializes in, as well as the technology behind it
  • Explain the nature of the marketplace and industry
  • Outline your tech business’s legal structure
  • Provide the ownership structure of your business
  • Show the value you offer and highlight the opportunity in the market
Preply, a company that offers a language learning app, has a detailed company overview that outlines each of the criteria above.

You can conduct a quick search online to find other companies with well-crafted overviews as a way to inspire your own.

3. Market Research

Regardless of how great you think your startup will be, you still need to conduct market research in order to gather information about your target customers, as well as your competitors.

There are two steps to achieving this:

Step #1: Identifying Your Target Market

It won't matter how great your product or service is, without a viable market for it, your new tech startup will be doomed to failure.

In fact, this is one of the main reasons why the majority of startups fail, as evidenced by the graph below:

For example, after conducting or outsource market research, a marketing tech company that allows corporations to host virtual events might discover that there is a distinct need for their product among large organizations.

The company might use a survey maker like this one to conduct surveys of their prospective customers, and once they get a clear picture of their total addressable market (TAM), they can then niche down to find a more targeted (and therefore more engaged, and higher converting) audience.

For your own market research, you can further segment your audience by the following factors:
  • Demographic: What is your target audience’s age group? Gender?
  • Geographic: Where do your prospects live? Country? City?
  • Customer Behavior: What are their buying habits? Which retail stores or brands do they prefer
  • Content Preferences: What blogs, websites, or news sources do they like?
Say you offer a CRM with predictive dialer. You might discover from your research that your target audience consists of 35 to 45-year-old male marketers who are largely based in the US.

You could then do further research to discover their purchasing behavioral traits so you can better speak to their needs.

Step #2: Performing Competitor Analysis

Your next step is to conduct a thorough analysis of your competitors. This will help you find the key differentiators between you and your rivals.

You can do that by asking yourself these questions:
  • Why should someone choose my product or service?
  • Why do people buy the product already in the market?
  • How can I improve on existing solutions currently in the market?
Thinking about your main competitors, their weaknesses and strengths, will help you identify new opportunities for innovation. Ultimately, this will help your business better connect with customers.

This is particularly important for people in super competitive spaces, such as the VPN software niche, or the landing page software niche - two of the most competitive software niches.

4. Marketing and Sales Plan

Now comes your marketing plan.

Here, you need to mention the strategies you intend to use for marketing and sales in your business.

This includes sales channels and marketing activities.

Your marketing channels are those you use to promote your business and product.

Sales channels, on the other hand, are the mediums that allow your customers to buy your products or services.

You must include at least one direct sales channel, such as an eCommerce store, and explain it within your business plan.

You can emulate the examples of eCommerce stores like 3Wishes that are already successful. But even better, you can look at what your direct competitors are doing as a way to brainstorm ideas for your own strategy.

Marketing activities should detail how you intend to acquire leads and customers for your business.

For example, if your company offered a podcast hosting platform, at a base level, you might include:
  • Launching a company website
  • Developing a strategy to generate traffic, e.g. from search engine optimization (SEO)
  • Creating a paid traffic strategy, such as PPC for immediate online exposure
  • Developing channel partnerships
  • Building an email subscriber list
This section of your tech startup business plan needs to account for various factors, including your goals, budget, and risks in the market.

Pro Tip: In addition to including graphs and charts on your business plan, you can use animation software to create eye-catching imagery.

If you’re not knowledgeable about these things, it’s important you get sales expert advice from professionals who can help you develop a strong marketing plan.

This brings us to our final secret to a solid tech startup business plan.

5. Financial Projections

The last section of a good tech startup business plan should include relevant details about your budget and company sales goals.

This can be quite challenging for new entrepreneurs.

For example, say you’ve just created a WordPress guest blogging plugin that you’re eager to offer to the world.

But, how do you come up with financial projections when you have no stable income, let alone balance sheets or cash flow reports on which to base your projections.

Having said that, creating a detailed financial plan is still possible if you've done proper market research because you can make educated projections.

Here are some details to include in your business plan:
  1. Revenue Streams: Outline how your company will generate its income
  2. Major Expenses: Detail any high costs that you anticipate in the year ahead
  3. Salary Demands: Note whether you are still bootstrapping, or if you and the partners are taking salaries, in which case make a note of how much.
  4. Financial Milestones: Communicate your expansion strategy and factor in future store openings or hires that will have an impact on your books.
Keep in mind that the majority of startups are not profitable in the first year.

So your financial projections need to maintain a longer-term view for success while keeping your ambitions honest and realistic.

This will help you produce a break-even analysis that is more accurate.

Conclusion

These are the 5 core components you need to build a structure that has been proven to be the most effective in creating a solid tech startup business plan.

Follow the steps above to craft an elaborate business plan that will help propel your new company to success.

Over to you. Do you think these tips will help you write a tech startup business plan like a pro? Share your thoughts in the comments below!

Acies Launches India’s 1st Funding + Technology Development Program for Start-ups and Entrepreneurs



Acies, a leading multi-national firm in the technology and advisory space, today announced the launch of a special initiative aimed at supporting budding entrepreneurs and start-ups that face technological, management or capital constraints. Through this initiative, Acies, led by its ventures business will provide access to capital for funding business growth, professional guidance, and support from the Acies leadership and usage rights to their no-code platform Revolutio for building their technology product or service. This initiative will be called the Acies Ventures-Revolutio program.

Developed by Acies Techworks, Revolutio is a unique and unified no-code application that enables any individual, group, or even existing start-up to build or enhance their applications without the hassle of coding. Revolutio is architected to develop applications for the enterprise and for enabling complex computer operations. The platform allows anyone with or without coding experience to build their enterprise-ready applications - covering architecting, data management, process automation, modelling, reporting, visualization and project management capabilities.

Announcing this initiative, Mr Rahul Murthi, Global Head of Acies Ventures said, “We have seen a lot of bright ideas and promising start-ups failing to succeed due to various challenges such as technology development, hiring the right people, partnering with the right investors, timing their entry in marketplaces or even sustaining their revenue streams generated by their products or services.”

“Over the past year, from our conversations with various budding entrepreneurs and start-ups, we realized that the common ask from them is to help them build the right technology stack with less dependency on outsourced technology experts - which is precisely what Revolutio will achieve for them," he added further.

Commenting on the launch Mr Muzammil Patel, Global Head Strategy and Corporate Finance at Acies said, “Revolutio bridges the gap for a lot of individuals and businesses that know what is required for the technology-enabled product or service to serve the key need of the marketplace but never see it become a reality due to lack of technology or coding know-how. With this program, entrepreneurs and start-ups get access to using this platform to build their application their way."

Through the Acies Ventures-Revolutio program, any individual, group, or even existing start-ups can use this to build or enhance their applications without the hassle of coding. They can also get access to capital for funding their business growth through the help of Acies Ventures and obtain professional guidance and hand-holding support from the Acies Consulting leaders. Acies Consulting leaders will support them in a variety of ways - ranging from setting up their enterprise, scaling operations by hiring executive management and other professionals, structuring market-entry, and business development strategies for positioning their product or service into different marketplaces.

Access to this program is open to anyone around the globe - interested individuals or start-ups may send their application by filling the details in the form available here.

About Acies Ventures

Acies Ventures, a division of Acies, focuses on supporting the growth of new-age companies and laser-focused entrepreneurs through equity or debt investments and strategic partnerships that look to use technology as a means to bring in positive change at the market infrastructure or be a mutualized source for driving efficiency in the industry.

About Acies

Acies is a multi-national firm comprising businesses that focus on providing advisory and implementation services, technology applications and platforms, content and learning and development solutions, and strategic investments.

Acies' vision is to provide practical and tangible outcomes to support institutions and industries through businesses rooted in using next-generation technologies and tools to innovate, implement, skill and scale businesses to support growth and sustainability.

The firm is headquartered in India and has global offices and entities based in APAC (Singapore and Malaysia), Middle East and Africa (Mauritius) and the Americas (USA) respectively.


7 Important Lessons for Startups from Ramayana

Heralded as the biggest epic in history, Ramayana is a household name in India and other subcontinents. The sensational mythology is rife with values and lessons on relationships and promises. Not only does the story benefit on an individual level, but even companies, especially startups, can learn a lot from it. 

Mentioned below are some of the lessons, which if adopted, can improve the chances of success for a startup: 



  1. Know your team’s strength -


    Rama knew his core team well. For instance, Rama sent Angad (Bali’s son) for a peace talk with Ravan, knowing very well that Angad had great negotiation skills. Rama was also aware that Nala and Neel had a curse bestowed on them—that they couldn’t sink anything in water. Rama capitalized on this and used their unique ability towards building a bridge to Lanka. Like Rama, companies should focus on knowing their employees’ strengths to keep them engaged and perform better.


  2. Develop Strategic Relationships for Future Partnerships -



    Rama made friends with Sughreev, promised to make him king, and later followed through on his promise. In return, Sughreev lent his entire army to Rama in his fight against Ravana. Taking a leaf out of this strategic move, startups may initiate a goodwill towards client: they could work a project or two pro bono and in this way start to build trust with the client. The key is to give without expectation—especially when you are in the early stage of your business. A good client would be appreciative of the effort and may reciprocate with a long-term partnership.


  3. Hire from Competitors -


    [caption id="attachment_144837" align="aligncenter" width="730"] Image - Bhaskar.com[/caption]

    One of the major reasons behind Ravana’s defeat was his brother Vibhishana, who was on Rama’s side. He gave away all major strategies of Ravana’s army, including tipping Rama on the right way to kill Ravana . If you’re a startup, hiring smart talent from self-same industry may help you update your own strategies and broaden knowledge; it may lead you to approach your audience in a different light.


  4. Consult your team before making crucial decisions -



    Ramayana shows multiple instances where Rama, Dashratha, and Bharata consult with their ministers about any major decisions. On the other hand, the egocentric Ravana is shown to act on his own and not listen to his ministers, including the instance where they urge Ravana to let go of Sita but he doesn’t, which in turn costs him his empire. This is an important lesson for startups: when management listens to their team, a range of perspectives is shared. It’s a win- win situation as not just the management benefits from it but the employees also feel heard and valued—which in general could lead to employees feeling positively towards their company.


  5. Be true to your words -


    "Praan Jaye Par Vachan Na Jaye”— was one of the most important lessons from Ramayana. We saw many occasions where Rama kept his promises, be it going for 14 years of exile or giving Sughreev his kingdom back. Being honest and committed to your word plays a critical part in any organisation. This can include adhering to timelines given to clients and vendors, sending them assured deliverables, fulfilling promises made to employees, and so on. The company should look to follow through on their word so the trust is intact among all their stakeholders.


  6. Never underestimate your competition -


    Ravana never believed that Rama with his Vanar  army could defeat him. He never thought that they could cross the sea and destroy his kingdom. Ravana in his arrogance underestimated Rama and all his moves. Similarly, a company needs to be able to correctly gauge the abilities and strengths of their competition. Self-confidence is different from arrogance: while former can lead you to success, the latter is directly detrimental to success.


  7. Be patient and hopeful -


    Last but not the least, a very important lesson from Ramayana is to be patient. When Rama knew that Sita was kidnapped by Ravana, he took his time processing the enormity of the situation: he couldn’t have just directly entered into a battle with Ravana and his Lanka. It took Rama several months but he utilized his time efficiently, building his army and focussing on strategies. Likewise, for a startup, it is necessary to be patient and not lose hope especially at a time when they are in their early stages. Committing a 100% to their goal and achieving results take time. 



Ramayana is filled with timeless wisdom and a belief that good triumphs over evil. Incorporating the above lessons in your organization will promise a successful start and a fruitful sustenance. Ramayana is not an epic story, it’s a way of life! 

[box title="Author of this Content"]The above content is contributed by Rohit Gawali, who is the co-founder of Officebing which operates and provides flexible and coworking offices PAN India.[/box]

Surviving the COVID-19 Impact - TiE Mumbai's Guide to Startups

As the global COVID-19 pandemic continues to disrupt life, the Startup ecosystem has been confronted with unique challenges both from the business and operations perspective. In this unprecedented scenario, TiE Mumbai continues to assist Startups and has organized several webinars with investors, legal assists, Industry leaders and mentors to help entrepreneurs with much needed guidance to tide over the current situation.

"These are challenging times. We are facing a crisis of both life and livelihood. TiE Mumbai is committed to remain engaged with the Startups and support and guide them is every possible way," said Atul Nishar, President, TiE Mumbai.

Some of the webinars organized by TiE Mumbai were -

Business Continuity and contingency planning - This was a Brainstorming Session on Practices adopted by various Startups and strategies bracing for the days ahead. Startups discussed that it is extremely critical to have cash in this crisis. Startups must utilize this time to invest in relationships and must be clear and transparent in their communication with employees. There is an active need for evolution in thinking and businesses and adoption of new product lines. Raising money is not easy thus being frugal is the key. In addition, Startups must be mindful not to delay their statutory payment.

COVID-19 Brainstorming Business Strategies for Food Service Network - Key members from the Food Startup industry discussed that liquidity is an issue. However, there are opportunities in challenges, distribution of resources and change in business model should prove effective. One must be very prudent in opening new outlets.

Unsettling times, what next in the Startup World - This was a panel discussion between VCs from around the world on how the current economic situation might evolve, how different geographies and sectors might get affected, how investors view the situation evolving, and their plans for funding. The mentors agreed that this is the time to focus on surviving. While great businesses have started during downturns, tech served companies, digital enterprise solution and digital healthcare remain hot pics.

Cash Flow and Financial Management Bootcamp For Entrepreneurs - Here experts discussed how to retain one's advantage while cutting costs during these times. Cash management, sensitivity planning, statutory issues, accelerated cash collection and organic growth were discussed as the way forward.

Founders' 101 was launched in partnership with Nishith Desai Associates ("NDA") for Founders to get legal and tax experts' answers to questions on an array of legal issues that need attention. The discussing focused on Force Majeure Issues for Startups: Can Parties Renege from their Contracts in view COVID-19

Ask me Anything Session with a renowned Doctor from Hinduja Hospital on COVID 19, its symptoms and medical assistance.

About TiE Mumbai

The Indus Entrepreneurs (TiE), was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region. Since 1992. TiE has been supporting entrepreneurs by offering education, mentorship, networking and funding opportunities. The mission of TiE is to foster entrepreneurship globally through the 5 pillars of TiE: mentoring, networking and education, funding and incubation. Dedicated to the virtuous cycle of wealth creation and giving back to the community.

TiE's focus area is to generate enable the next generation of entrepreneurs. There are currently 11,000 members, including over 2,500 charter members in 60 chapters across 17 countries. TiE's mission is to foster entrepreneurship globally through mentoring, networking, and education. Dedicated to the virtuous cycle of wealth creation and giving back to the community, TiE's focus is on generating and nurturing our next generation of entrepreneurs.

~ Newsvoir

Help Your Startup Succeed Through Networking and Face-to-Face Meetings

The number of startups in India has grown dramatically from 7,000 in 2008 to 50,000 in 2018. India is also ranked as the fifth-most startup-friendly country in the world ahead of Germany, Switzerland, and Sweden, according to CEOWORLD Magazine. One of the ways to grow a startup is to identify fresh opportunities such as new or alternative markets. To do this, you would have to network and travel within and outside of India to actively sell the startup so that it can thrive and grow.

Why Business Travel Matters for Startups



There are surely many reasons why business travel helps your startup grow. When you travel outside of your location, you are expected to meet new people including the competition, discuss ideas, develop partnerships, and even forge closer alliances. The level of personalisation is very important as it helps you attain the confidence and trust of potential investors or customers.

Even though technology has reduced the need to travel for business purposes, there is no substitute for in-person relationship building. If lucky, you might even get access to a CEO so that you can pitch your business ideas to secure extra funding for expansions. The personal interaction with others build the present and future partnerships that can make the business stand out. Reducing miscommunication because of face-to-face meetings is crucial to the success of the startup. According to the Harvard Business Review, a face-to-face request is 34 times more powerful than an email making travel a compelling business strategy.

Before Travelling



Travelling may have a huge impact on the direction where your startup is headed. It also requires preparation. Considering that you are going to unknown territory, it is also vital to protect your financial interests as travelling itself already represents an expense that you might or might not recover.

One way of protecting your business is to get a travel insurance that will cover your back in cases of unexpected events such as an illness or family emergencies. There are several benefits of having a travel insurance. It will pay for accidents and losses arising from a journey. Like any other business transaction, ensure that you are getting your money’s worth when shopping for travel insurance. Compare prices across providers and look at the terms closely identifying what is covered and not. In addition, check if it makes sense to buy a single or annual plan. This will largely depend on whether you intend to do frequent trips to promote your business or not.

Startups are important players in the Indian economy that require time and investment. Identifying new opportunities and networking through business travel help owners sustain their activities, grow, and succeed.

Few Productivity Hacks for Startups

Most businesses owners never feel like they have enough time to do all the things that need to get done. Startup founders feel especially burdened since their teams are usually small and they have limited resources. While there’s nothing you can do about the number of hours in the day, you can make every day more productive. Here’s how to get the most out of each day.

Monitor Your Online Time and Minimise Distractions


The Internet can be a key facilitator of modern businesses but it can also prove to be a major distraction. Apps like RescueTime and even the new Screen Time feature on iPhones provide lots of insight into your online activities. The stats collected by these apps may shock you. If you’re running an online business, social media screen time will be key to your productivity. However, if most of your business is done offline, 3 hours on Twitter per day may not be the best use of your time. Try muting the notifications from these apps. If you still find yourself checking them for updates, log out at the start of the workday.  Only log in during breaks or at the end of the day.

Don’t Reinvent the Wheel; Use Templates


You can get templates for virtually anything you need to create. These include editorial calendars, social media audits, purchase orders and more. These will keep you organized, ensure everything has a uniform look, and save you lots of time. Customize the templates with your brand colors and logos and any special sections you need. This will take a lot less time than designing everything from scratch.

Automate Tasks Where Possible


Take advantage of the wide range of tools which can help you automate some of your functions. This can free up some of your time so you don’t have to do repetitive processes manually. Apps like Hootsuite, Drip, and Autopilot allow you to schedule your social media posts, manage inbound messages and track audience growth and performance. UiPath can take over both front and back office processes. Invoice generators and accounting tools make it easier to manage your finances and make tax season a lot more hassle-free. You can also use an alert system to monitor online brand mentions. Tracking social media manually for reviews and comments can be very time-consuming.

Sign Up for a Managed Email System


Startups get lots of emails and forgetting to follow up on a critical one can have a significant impact on business. Managed email systems allow you to have more control over your inbox. You can schedule alerts, mark emails which have been successfully handled and organize messages according to importance. This may not seem necessary in the beginning but once you start to get lots of offers, orders or queries, you will see the need.

Make Sure Your Workspace is Work-Friendly


work harderGetting the most out of your day doesn’t only revolve around digital tools. Your office environment can either boost or hamper productivity. You should have adequate space for each worker, good lighting and proper equipment. You also need to ensure that office furniture is ergonomic. Your office should be set up in a way that employees can interact as necessary and have access to the tools they will need. If privacy and security are important in your field, make sure these are not compromised in any way. You can also add some custom neon lights in your workspace to remind you to work hard.

Outsource Small Tasks to Freelancers


The gig economy is growing and startups should take advantage of this. There are certain small jobs which may not suit anyone in your team. Instead of leaving the task undone or giving it to someone who can’t handle it, hire a skilled freelancer online. Fiverr, PeoplePerHour and other freelance marketplaces list hundreds of people who work for as little as $5. Outsourcing allows your team to focus on their areas of specialty and the core aspects of business.

Ban Meetings on One Day of The Week


Asana is one startup which has put this policy in place. Having one day of the week free of meetings allows workers to focus on their respective tasks. While meetings can be valuable, if they aren’t properly planned or organized, they can simply be a waste of time. Unless there is an emergency, impromptu meetings can stop everyone from actually getting work done. Leave one day each week for focused work.

The Bottomline


You can land clients, build your brand and bring in revenue without spending every minute of the day working. Create a workspace that’s conducive to work, automate where possible and outsource when necessary to make sure you and your team operate at optimum levels. Don’t forget that there are ways to market your business with minimal effort.

4 Tips for Building a Dream Team for Your Startup

Not having the right team (or having a wrong one) is the third main reason to why startups fail, states an analysis from CB Insights. It’s preceded only by the lack of market for their product and cash for keeping the business afloat. What this means is that the importance of your team is huge, so building it is a great responsibility that will likely determine if you can or cannot succeed. Take your time to assess the candidates, consider their personalities as well as skills, and, most importantly, train them to perfection.

Here're 4 Tips for Building a Dream Team for a Startup -

1. Define your culture before looking for a team


If you take a look at the 10 Examples of Companies with Fantastic Cultures from Entrepreneur you’ll see that the businesses mentioned there are some of the most successful in the world today. It’s not a surprise as their staff loves what they do and gives their all to the company.

If you want your team to be this way, you need to define your culture and then hire the people who will identify with it. A company culture is your business’s ‘personality’. The term encompasses the working environment, ethics, values, mission, expectations, and goals. Once you define all of them, you’ll have the biggest part of your perfect employee profile ready. All that’ll be left is to add your requirements towards their skills and experience.

2. Assess both strengths and weaknesses of the candidate


No one is perfect. That’s the most important thing you have to remember when building a dream team for a startup. You must accept that every member of your team will have weaknesses and decide if you can deal with them before hiring.

This rule is the same for anything. For example, as a small business you’re definitely looking for the best cheap hosting, right? This means you accept your budget size and service limitations that come with it. However, you still compare the offers to find the best cheap cPanel host. By studying them, you determine which of the limited packages will work best for your specific business.

It’s the same with hiring staff. You need to see the person’s failings and weaknesses and assess them from the point of view of their performance for your business. The most important question isn’t ‘Is this person good or bad?’ but ‘Can this person help my startup succeed?’

3. Take your time


You can’t build a dream team for a startup in a week. That’s completely normal and nothing to be worried over. However, if you want your team to be efficient, which is the key to your initial success, you need to take your time in choosing them.

Interview as many candidates as you can and be sure to keep your mind open. If possible, have a trial period so you can see how the members of the team interact and whether they can work together effectively. Don’t rush in making decisions that might decide if your startup lives past its initial year.

4. Train your team diligently


No team is ‘born’ as a well-oiled machine that propels a business forward. It’s your job as a leader to make it so. This means that once you find employees that have the characteristics you require, you must teach them the ins and outs of your business as well as train them to work together. Team building activities are as important as lessons on your product/service in the beginning.

Your main goal is to ensure each of your team members can:

  • See the ultimate goal of your startup.

  • Understand their position within the company.

  • Understand what they can and should do to help the business achieve its ultimate goal.

  • Understand the roles of other team members and work with them smoothly.

5 Amazing Tips & Tools for Startups & Ecommerce Businesses

The last two decades witnessed the exponential rise in the startups and ecommerce businesses. But over 90% of them failed miserably and the operations had to be shut down before further financial losses. These points out that most of the startups and ecommerce businesses lacked either a business idea or a business plan while only a handful of them knew the way out and hence, thrived and excelled. The fact is that the trends in such businesses keep on changing every year and if a startup or existing company cannot upgrade themselves according to the trend, they are sure to perish. If you are thinking of launching a startup or adding ecommerce to your existing platform, the following 5 useful tips and tools will help you immensely to survive the competitive market and thrive steadily.

5 Amazing Tips & Tools For Startups & Ecommerce in 2018 –

Reach Out To The Targeted Audience – The success or failure of a business depends on the marketing strategy. There are various marketing ways like email marketing, consumer marketing, customer base marketing, social media marketing, and mobile marketing. In 2018, you cannot depend solely on any one of them and instead, you have to cater to all of them to reach out to the targeted audiences.

Tool – Marketo is the best tool to avail all these marketing ways with one automated dashboard. The tool is used by the leaders in the startups and ecommerce businesses to increase brand awareness, get leads and prospects and converting them into long-term customers.

Viral Marketing – There are two ways to do viral marketing such that your products reach out to a lot of audiences at once. One of the ways is paid campaigns on search engines and on social media sites. The other way is through influencers. More than the first way, the second one is going to be fruitful in 2018 as it is going to attract the attention of the audiences far more than the first way out. Finding influencers to promote your products and services can be tiresome unless you know the right tool to use.

Tool – BuzzSumo is the tool tailor-made to find out the influencers in your niche. You can reach out to them and strike a deal to promote your product or service among various categories of audiences you can send out to. Furthermore, the tool helps you to find out what is the hottest things going on in your niche so that you can capitalize on the trends.

Effective Social Media and Email Marketing – Social media marketing is one of the best in the current scenario but not many corporates know how to do it properly. Similarly, lack of knowledge of email marketing makes corporates think email marketing is ineffective. They are gold mines for businesses to hit the jackpot.

Tools – For email marketing, you need Sumo which has various templates to collect emails automatically and politely and built a strong list of subscribers to reach out to for conversion. Furthermore, it has share buttons for social media and it shows where on the website the visitors are clicking more. Similarly, Buffer is the tool for social media marketing whereby you can publish posts at the optimal time to get the best reach and analyze your performance for betterment.

Converting The Traffic Into Customers – It is said that the first impression is the last. Therefore, make the best impression with the most attractive landing page. You need to test out various variations to see which one is working the best for you and increasing the conversion rate.

Tool – Unbounce is the tool to design and test out stunning landing pages. You can also use Optimizely for A/B testing. These are the leading platforms for testing and optimizing the landing page to impress your visitors and increase lead generation.

Understating Your Visitors – You have to understand the behavior and the demand of your visitors to serve them perfectly and converting them into leads and customers. You can understand such parameters through detailed analytics.

Tools – Qualaroo is a leading tool to get detailed insights and analytics and take actions accordingly for improvement. Inspectlet is a tool that records the activity of the users in video form and you can analyze the videos to understand every visitor minutely.

If you want to have a successful startup and ecommerce business in 2018 like PromocodeClub, you have to incorporate the above-mentioned tips and tools in your business to prosper.

Top 7 Reasons Businesses Need External Funding in India

To earn money from your business, you first need to invest money. Irrespective of the size of your business, you need funds to launch and grow it. Many times, businessmen dig into their savings to finance their business and its requirements. However, instead of doing so, it is advised to resort to external funding and keep your personal funds separate from business funds to ensure sufficient fund is available to meet your any personal emergency requirements.

Now, let’s understand what those reasons for which businesses may need external funding are -

1.Start a business

New businesses which are still in the start-up stage would need finance to get off the ground. Here an external funding can be used for everything from purchasing/replenishing a stock, hiring staff, paying salary to pay the rent of the office.

2.Purchase Assets

As a business grows, it needs new machinery, vehicles, equipment, etc.; to compete with competitors and stay in the market. While you may have sufficient funds as working capital, you may need to go for external funding to buy new assets, including technology for your business expansion. And remember, new technology is not about dealing with computers only, as it involves new machinery and tools which can ease work with great quality.

3.Grow business

External funding can make working capital available to you for expansion. Here, the expansion may include opening new offices, purchasing new lots or doing any activity which can take your business to the next level.

4.Meet emergencies

Life is full of ifs and buts. The uncertainty of life can have a major impact on your business as well. What if you got a big contract that needs to be completed in 15 days? Or what if you have been hit with GST rules? To meet any unplanned requirement, external funding is the right option.

5.Develop and upgrade products

In today’s fast-paced business world, where competitors are constantly updating their products and services, your business also needs funds to develop and market new products & services. The external funding can be used to cover the cost of product testing, marketing research, product launches, etc.

6.Enter new market

A business expansion plan includes new markets. These may include targeting new customers and locations. By resorting to external funding, it is feasible to cover the cost of transporting goods, setting up new retail outlets, planning media campaigns, etc.

7.Takeover or acquisition

When a business purchases any other company, it will require huge money to pay for the acquisition. You should go with external funding to pay the owners of the company which you have bought.

Now when you know those situations when you need external funding, let’s discuss from where you can get the funds.

Business Loans as an External Funding Option



Amongst all the available finance options, business loan is apt to raise money to meet divergent business requirements due to the following reasons:

1.Easy to Get

As happened in most of the cases, a online business loan is easily available without collateral. It means, even small businessmen or startups can apply for the loan and use it to meet both immediate and planned requirements without thinking about which asset you should pledge. Further, with business loans, you get an opportunity to apply for the loan online in a few clicks of the mouse. It is the power of the internet that let you keep a tab on the post loan disbursement mechanism by checking various factors, like repayment schedule, loan certificate, etc.

2. Flexible repayment schedules

As a borrower, you can decide the loan repayment schedule as per your convenience. By consulting the lender, you can chalk out a repayment plan as per the cash flow of your business to avoid facing issues while servicing the loan. Further, borrowers can increase or decrease their monthly instalment as per the situation.

3. Effective funds utilisation

Whether you need money to start a business or expand it, a business loan allows business owners to manage their money requirements effectively in accordance to their needs. Further, in most of the cases, lenders do not ask you about the purpose of the loan. It means, if you want to use the loan as working capital or for opening a new office, you can utilise the funds for meeting different needs of your business.

4. Build credit score

Some external financing is necessary to build a credit history as without it you would not be able to get large-scale financing in the future. Taking out a business loan and sticking to the repayment schedule will help in building and bolstering business credit for the future.

Conclusion

Overall, a business needs cash at different stages of its lifespan. Therefore, it is essential to carefully review your requirements and have a business plan ready to make the right decision. Here, business loans win hands down when it comes to convenience, flexibility and ease.

So, while external funding can be considered a king, business loan deserves a seat on the throne.

Things To Keep In Mind When Selecting A Trademark For Startups

What is in a name….? Shakespeare once said. Well in today’s age it could be a few millions or billions of dollars. So a question that often comes in the mind of a startup/entrepreneur generally is …. What kind of a brand name should I choose that helps me rake in millions of dollars? Well the answer is quite simple… you must adopt a brand name that is distinctive and has a strong recall value...To help you answer that, we have listed below some points to ponder on when choosing a brand name;


  1. The brand name should not describe the products/services being offered:

    One of the biggest myths going around these days is that a good brand name is one that allows the consumers to identify the nature of the products or services being offered by a Company. Well what startups and new companies adopting descriptive brand names do not realize is that when they adopt brand names which consist of words commonly used in their business circle to describe the products or services they offer they are weakening their brand value. The primary function of a trademark is to help consumers distinguish the goods or services offered by one entity from those of other entities. If the brand name being adopted is a word commonly used by entities to describe the qualities, characteristics, nature of the products/services they offer then they will be unable to stop other entities from using the same word to describe their products/services for e.g. Choco Treat in respect of chocolates and chocolate based confectionery; American Airlines for airlines etc. Brand names which are descriptive of the nature or characteristics of the products/services they offer do not generally proceed to registration as no entity can claim exclusive rights over words which are commonly used by other traders in that business to describe the products or services they offer. Hence, descriptive brand names are the weakest brand names to have.



  2. The brand name could be suggestive, arbitrary or coined:

    While a Company or startup should not adopt brand names which are descriptive of their products or features they could adopt brand names which are suggestive e.g. MICROSOFT (suggestive of software for microcomputers), NETSCAPE (suggestive of software which allows traversing the "landscape" of the Internet). Suggestive trademarks do not directly describe the nature of the products and require some imagination, thought, or perception to reach a conclusion as to the nature of the goods.

    The strongest trademarks are made of words which are arbitrary and coined. Arbitrary trademarks are those which are commonly used dictionary words but which have no co-relation with the goods or services being offered under the trademark e.g. Apple-Computers, Orange-Mobile, Mango-Clothes. Coined or Invented Trademarks are those marks which have no meaning e.g. Kodak-Camera, Exxon-oil and gas company. If we were to look at the Top 10 brand names as per Forbes…you will notice that they have an extremely high recall value and have no direct correlation or connection with the goods/services they offer e.g. Apple, Google, Microsoft, Facebook, Amazon, Disney and these are either suggestive, arbitrary or coined brands.

    It is, therefore, advisable to adopt a brand name that is coined/invented for the simple reason that if any other entity adopts a brand name which is identical or deceptively similar to the invented/fanciful brandname even in respect of dissimilar goods or services they will could be liable for trademark infringement or passing off because they will have no reasons to justify adopting the brand name which has no meaning.


  3. Conduct a pre-filing search:

    Once an entity has shortlisted a brand name to be used in respect of the products or services they wish to offer the next important thing they must do is to conduct a pre-filing search. The importance of a pre-filing search is to ascertain the availability of the brand name as a trademark i.e. to identify if there is any other entity that has already adopted a trademark which may be identical or deceptively similar to the brand name that the entity wishes to adopt as its trademark. If upon conducting a search no identical or similar trademark is revealed then the entity can proceed with filing the trademark application to register the brand name and commence marketing or promoting the products/services under the brand name. It is advisable to conduct a pre-filing search to ensure that the entity does not spend substantial money in promoting the brand just to be sued by another entity that had adopted a similar brand name in respect of same goods earlier in time.



These are some preliminary points that entities must keep in mind while selecting their brand name.

Vodafone Launches Startup Kit To Promote IoT Solutions Among Startups

Vodafone India has introduced the Ready Start-up Kit that has solutions aimed to give complete visibility, manageability, and control over various business assets to startup owners. The kit aims at grabbing IoT business from startups across the country.

Vodafone India will offer complimentary access to Vodafone's IoT Managed Connectivity Platform, expert support and rental free package for 6 months for 50 IoT SIMs to develop and deploy their solution.

Vodafone India will also offer complimentary access to three curated cloud-based business apps for one month -- Vodafone CRM, Vodafone Mobile Workforce Essentials and G-Suite. These solutions can help start-ups to boost their productivity, efficiency and enhance their ability to engage with their employees and customers.

Vodafone claims that it is the only Indian telecom operator with a completely online Cloud applications marketplace - Vodafone CloudStore.

Start-ups selecting the Vodafone IoT solution will be able to increase awareness of their products and services and engage with their customers using Vodafone’s Programmatic Marketing solutions, which includes up to 50,000 SMS free package for marketing.

“The Ready Start-up Kit brings forth Vodafone’s global experience as an enabler of start-ups and reinforces our commitment to this community. We expect it to be a game changer with a suite of solutions that will empower start-ups to catalyze innovation and fast track growth,” said Sunil Sood, MD and CEO of Vodafone India.

THe above development was first reported in ET Telecom.

How To Save Your Startup From Failure?

When one starts a business, one expects it to grow and become profitable without failing. There are things you need to do save your startup from failure. They include the following.

You need plenty of drive and determination if you want to succeed. While drive and determination are broad ranging concepts, I'm talking about the ability to get out of bed in the morning, not have that second cup of coffee, and not "just browse the internet" before you start calling potential customers or negotiating a price discount with key suppliers.

Evaluating your personal character strengths and weaknesses as compared to a successful owner of a small business is a great idea and If you don't know any successful business owners then now's a good time to find one. That means proving yourself as successful by being discipline for your business.

We've all been to the small workshop where the owner can't find anything, didn't know you were coming (even though you phoned last week) and hadn't got your order ready. It's far from impressive.

Being organized, following up on the details and managing projects is all down to you. Even if that means delegating. And while we're talking about tricky situations, how well do you handle tricky situations or deal with different personalities? (I mean difficult personalities, but diplomacy is needed). Keeping your word and following up on your promises shows high personal integrity and is valued greatly by all the people you will deal with.

As a potential business owner, you will need to get yourself technically up to speed and develop successful working relationships with key professionals you need to make your business work. Customers, suppliers, staff (hopefully some day), accountants, probably lawyers, and of course the bank manager.

You need to be strong enough to make concrete decisions pertaining your startup otherwise you will fail. Sometimes there's just no substitute for straightforward - quick from the gut - decision making. As a small business owner, you will often need to make rapid decisions under stressful conditions or tight deadlines without the ability to consult. This is very critical because you need to ensure you make the right decision.

Okay, but what about when you've already been on your feet for 12 hours, your children kept you awake last night, and the computer just crashed? Physical and emotional stamina is essential. This is because you can only live on the adrenaline and excitement of being an entrepreneur for so long. There is nothing more frustrating than wanting to keep going but having nothing left in the tank. It's very important to know when to take a break so that you can be at a stable mind to make the right choices.

You've dug deep in to your pockets, you've made the calls, got the goods, delivered the product, collected the money, paid the supplier, the accountant, the taxman, the rent, and all the stake holders involved.

There's nothing left. You've been a busy fool. Oh, No. Better give up now. No, not really. Resolve to learn from mistakes and make essential changes is critical. We've all heard research that shows poor planning is responsible for many failures, but not as many as running out of money. Cash is King for a reason. Without it, you just can't go on.

Many different operational aspects of your business end their life either in or out of your bank account. Things like managing inventory (stock), delivery and production schedules and quality control all need to be managed through your financial statements. A tight fist of control and mastery of your business dynamics will have you ordering that new car soon enough! That will show you are becoming a success.

The first few years of start­up is the hardest and one should look at all aspects to save it from failing. It's important that you brief your family, so they know what to expect, but it's as important to make sure you have their support during this time. They will help you and your startup from failing through their inputs. You're not going to be as well off as you used to be until you make the business profitable and trade above break even. You're going to be short tempered, tired and crotchety at times and you're not always going to be home in time for dinner.

Careful planning can eliminate many of these, but even the best plan in the world cannot take everything into account. But if you set the right plan for your startup you will prevent it from failing.

[box]Above is an authored article by Swati Chamoli. Swati is Marketing Executive at Enterslice. A Legal Technology Company dealing in Company Registrations, NBFC Registration, FSSAI License and other start-up services.[/box]

Multiple Usage Applications for Startups that Run Cross Platform

With the humungous increase in the variety of mobile platforms with each passing day, it is becoming a real challenge for developers of these multi purpose applications to be able to run their applications in comparatively more user-friendly and adaptable forms. With vast advancement taking place in the digital and multimedia sectors, it is quite natural for consumers of various applications to be accessing the services from different mobile platforms. As a result, the need of the hour is to create and develop more Write Once Run Anywhere (WORA) codes. For those of you who are not used to hearing this term, WORA refers to a piece of code which is initially written on any one particular platform, however, it can be run on multiple platforms thereafter.

So, basically what’s happening here is simple code reuse! This method of using multiple usage applications that can run across different platforms leads to the logical and practical conservation of the developer’s time, efforts, and money, of course.

Needless to say, there are several top- notch cross platform mobile development tools available for all kinds of mobile operating systems, including iOS, Android, Blackberry, and Windows among others. Some of these cross-platform mobile application development tools are PhoneGap, Appcelerator, Monocross, Codename One, Convertigo, and Nativescript, etc.

Without much delay, let us now take a look at some of the best multiple usage applications that run cross platform.

Best Multiple Usage Applications that Run Cross Platform



SHAREit – Connect & Transfer

SHAREit is a very popular utility application that also falls in the category of a multiple usage application that runs cross platform. Basically, it is a sharing tool which works cross platform that too without any mobile data required! Using the SHAREit application, you can share pictures, videos, audio files, documents, and other multimedia apps, games, and similar utilities to and from any other phone or desktop computer. One of the features of this multiple usage application is that it supports all file formats, hence making it even more convenient for you to exchange applications, games, etc. It can be used anytime and from anywhere, and it is a lot faster than your device’s Bluetooth (about 200 times faster). There is also a SHAREit music player where you can listen to the music that you received from any other device, irrespective of its operating system. With this cross-platform application, you no longer have to use cables and the internet for sharing files across your mobile phones and laptops.

TutuApp

TutuApp is one among the perfect examples of cross-platform multiple usage applications. This application is available for both the users of Android as well as iOS mobile devices. Using this application, you can install as well as run paid apps on your iOS and Android-powered devices, that too straight from the Google Play Store (for Android) and the iTunes Store (for iOS). The best part about using the TuTuApp is that you need not shell out a single penny for downloading all these applications! Yes, you can literally download and use all paid applications and games while using the feature-rich TuTuApp. This app also comes with an in-built toolbox which manages your device’s Bluetooth, Wi-Fi, and other such utilities. It is also coupled with a cleaning feature which helps maintain the speed and RAM usage of your mobile device, hence making sure that it functions smoothly during all times.

Opera Mobile Store

The Opera Mobile Store is yet another cross platform or “platform- independent” application that can be used for multiple different purposes. It is not only a browser- based application meant for users of mobile devices; rather it also functions as a digital application distribution platform which has a user-base of thousands from all over the world. What makes the Opera Mobile Store cross-platform application stand a step ahead of its competitors is the fact that it can used for browsing and downloading applications across more than 7,500 mobile devices, that too across a variety of different operating systems, including iOS, Android, Windows Mobile, Blackberry, Java, and Symbian to name a few! It is also available on the desktop versions of these operating systems. With more than a million apps being downloaded from the Opera Mobile Store each day, this cross-platform application is easy accessible from your smartphone devices.

Conclusion


These 3 applications work best for my startup needs. Do share your experiences in the comment section below!

25 Startup Jargons Every Entrepreneur Must Know These Days

Last updated:27 February 2023

Ready with your idea? Planning to enter the entrepreneurial world? If the answer is ‘yes’, then this article is for you. Entrepreneurial world is not so glittery as is seems to be. Your ride to this fancy world will be full of challenges and hardship. And you know what is the major problem which aspiring entrepreneurs faces? It is the language. Yes, for aspiring entrepreneurs, language act as hiccups in their journey as they are not aware about the most common startup jargon used by the entrepreneurial world. Entrepreneurial world is full of startup jargons and if you want to create an impact, you need to know these startup culture lingos. So to make your ride bit easier, we at IndianWeb2 has penned down few startup jargons with their definition.

So below are the few must know lingos & Jargons for all the aspiring entrepreneurs:
  1. Accelerator - Accelerators are essentially 'training schools' for expanding startups. Accelerators generally offer startups a specific amount of capital and guidance in exchange for a percentage (usually 6-8%) of ownership in the company.

  2. Acqui-hire - buying out a company primarily for the skills and expertise of its staff, rather than for its products or services.
    • MBO buyout - A management buyout — mbo buyouts — is a form of acquisition in which a company's existing managers acquire a large part, or all, of the company/start-up, whether from a parent company or individual. MBOs generally occur to take companies private in an effort to streamline operations and improve profitability.
    • LBO Buyout - A leveraged buyout (LBO) is when a company is purchased using a combination of debt and equity, wherein the cash flow of the business is the collateral used to secure and repay the loan

  3. Alpha Test - It is a trial of machinery, software, or other products carried out by a developer before a product is made available for beta testing.

  4. Accredited Investor - An individual potentially interested in investing in the company which can deal with securities not registered with financial authorities by satisfying one of the requirements regarding income, net worth, asset size, governance status or professional experience.

  5. Bleeding Edge - The very forefront of technological development.

  6. Buyout - It is the purchase of a company's shares in which the acquiring party gains controlling interest of the targeted firm.

  7. Bootstrapped - it is a situation in which an entrepreneur starts a company with little capital.

  8. Cliff - It means that the founders will not get vested with regards to any shares until the first anniversary of the founders stock issuance.

  9. Co-invest - It is a minority investment, made directly into an operating company, alongside a financial sponsor or other private equity investor, in a leveraged buyout, recapitalization or growth capital transaction.

  10. Dragon - While a ‘unicorn’ denotes an unlisted company that has achieved a valuation of over $1 billion based on funds raised, a ‘dragon’ is one that raises $1 billion from investors in a single round.

  11. Decacorns – Term used for companies valued at over $10 Billion. Some of the notable members of the club are WhatsApp and Snapchat.

  12. Elevator Pitch - An elevator pitch, elevator speech or elevator statement is a short sales pitch which is often an ice breaker, that will (hopefully) lead into a deeper dialogue about the functionality, and specialty, of what you and your startup can offer. In practice you typically have just 60 seconds to leave an exciting, impactful and meaningful impression with whomever you come in contact with

  13. Exit Strategy - It is a strategic plan of entrepreneurs to sell his or her investment in a company he or she founded. The strategy gives owner a way to reduce or eliminate his or her stake in the business and, if the business is successful, make a substantial profit.

  14. Full stack developer - A developer with specialized knowledge in all areas of software development

  15. Gamification - the application of typical elements of game playing (e.g. point scoring, competition with others, rules of play) to other areas of activity, typically as an online marketing technique to encourage engagement with a product or service.

  16. HockeyStick Chart - A line chart in which a sharp increase or decrease occurs over a period of time. The line connecting the data points resembles a hockey stick, with the "blade" formed from data points shifting diagonally and the "shaft" formed from the horizontal data points. Hockey stick charts have been used as a visual to show dramatic shifts, such as global temperatures and poverty.

  17. HoneyPot - A highly attractive offering used to entice a specific, targeted audience.

  18. Institutional Investor - It is a term for entities which pool money to purchase securities, real property, and other investment assets or originate loans. Institutional investors include banks, insurance companies, pensions, hedge funds, REITs, investment advisors, endowments, and mutual funds.

  19. Iterate - The term is used for trying something, do it wrong, and try it again in a slightly different way with the hopes of achieving a better result.

  20. Liquidation - It is an event that usually occurs when a company is insolvent that is it cannot pay its obligations as and when they come due.

  21. MVP (Minimum Viable Product) - It is a development technique in which a new product or website is developed with sufficient features to satisfy early adopters.

  22. NASDAQ - An automated information network which provides brokers and dealers with price quotations on securities traded over the counter.

  23. Quinquagintacorn - A term used for a startup worth $50 billion or more. Uber is one of the best example of quinquagintacorn.

  24. Unicorns - It is the most common term used in startup industry. It is used for a startup companies who are valued at more than a billion dollars, typically in the software or technology sector. Flipkart is one of the unicorns for Indian startup world.

  25. Unicorpse - It is one of the current buzz word in the startup world. Unicorpse are former unicorn, now valued at less than $1 billion. The best example of unicorpse (in India) is Snapdeal [Read Here].

These are few startup jargons which every budding entrepreneurs should know and I hope this will help entrepreneurs to write their success story. If you have any startup lingo which I have missed out, please do mention it our comments below.

The Best Free Resources For Startups

The Best Free Resources For Startups

Starting a new business takes a lot of planning and strategic decisions. As a young entrepreneur, you have big aspirations and goals for your company but don't really know the right path to get there. Hence, it is always good to have a little help. Here, in this article, Indianweb2 brings to you Top 10 Free Resources & Tools that worth to be used in daily activities of young entrepreneurs who want to make it big in the Startup World.

1) FoundersKit


Founderkit is a reviews site for tools to help you save time and money while building your startup. It essentially offers unbiased reviews of startup tools from experienced founders. It was started as a spreadsheet, which creators shared with other founders, and quickly evolved into a full-fledged reviews site with a highly curated list of products that startups use.

2) Investor List


If you don't know where to look for money for your business, the Investor List will get you sorted. It is a searchable, crowdsourced list of over 1,000 investors built by a tech startup called Peg who were inspired to built the List when they themselves faced problems while raising investment for their startup.

3) Syrup for Startups aka GetSyrup



We spent too much time and money looking for solutions to our problems. In small business, every dollar and minute counts, and that's why Getsyrup was created for startups. Its a curated list of only the best of the best products discounts and exclusive deals on top tools for startups, also it's free, so that's cool. Free site for free stuff.

4) Marketing Stack


It has been observed that a majority of the entrepreneurs while starting up prefer doing most of the work themselves so as to ensure 100 per cent productivity and save money at the same time. One of the toughest hats that the entrepreneurs have to don is that of a marketer. Marketing Stack provides entrepreneurs with a curated directory of marketing resources and tools all under one roof.

5) Good Email Copy


When you're getting started, you have to email a bunch of people on a day-to-day basis. But, the problem is, sometimes even when we have passion for something, we don't really know how to convert that passion on to the paper and get the word out. This is where Good Email Copy will come to your help. A rich resource of email copy from some of the greatest companies in the world, this particular resource will ensure that you don't dread writing an email ever again in your life.

6) Launchpad for Sketch


Your website is your door to your world. Hence, it is very important to have a website that highlights your products/ services and glorifies your achievements. All the hard work that you do in getting the word out of your startup goes in vain, if you're website is unpleasing and hard to navigate. This is where Launchpad for Sketch comes to help. The platform acts as a service for static websites and lets entrepreneurs publish responsive websites directly from Sketch. All a user has to do is design on sketch, and the platform puts it on the web.

7) Mixmax Calendar


Since as a new business and entrepreneur, meeting numerous people is a part of your daily hustle, therefore having a good meeting management system is a must. Mixmax Calendar is considered as the fastest way possible to schedule meetings with anyone, anywhere in the world. All you have to do is customise the days, times, duration and maximum meetings per day that you’re free to meet, and add your link to emails, websites, social profiles, or wherever you want. The final step step involves your guests picking a time and the meeting is added to both the people's calendars instantly, without any back-and-forth.

8) Social Media Academy by Buffer


In the Internet age, social media is probably the cheapest way to get the word out about your product, service and startup. The Social Media Academy by Buffer helps startups up their social media marketing game, one article at a time. You can read articles and examples from today's top social media marketers and become a social media wizard yourself.

9) Drift 2.0


A scalable way to talk to your customers, Drift 2.0 claims to be the next generation of marketing technology. The tool brings the power of Artificial Intelligence to the most important part of your business: the relationships you have with your customers. The tool helps companies provide their customers premium, concierge-quality experience at scale.

10) Asana


Hoping to get startups from a state of chaos to clarity, Asana enables teams to move work from start to finish. The management tool helps its users organise their tasks into shared lists or boards for their initiatives, meetings, and programs.

11) SpreadShare


The tool lets users explore community-curated spreadsheets. These spreadsheets can be anything. Contact lists, product comparisons, financial tools, dashboard templates and whatever you can imagine. Using the tool, you can challenge and improve your spreadsheet’s content through feedback, additions, corrections and ideas from the crowd.

12) Slack


Team communication for the 21st century, Slack helps companies organise their team conversations in open channels. One can make a channel for a project, a topic, a team, or anything—everyone has a transparent view of all that’s going on. In addition to this, one can take a conversation from typing to face-to-face by starting a Slack voice or video call in any Channel or Direct Message. Further, everything in Slack—messages, notifications, files, and all—is automatically indexed and archived so that you can have it at your fingertips whenever you want.

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