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Stand-alone website an important component but needs to be aligned with other forms of partnerships/marketing for viable revenue stream

Once you have your website filled with relevant contents/images/videos/extensions/SMO or Social Media Optimization in terms of Facebook profile/Twitter handle, you have a product to start with which you can now monetize. If yours is a content website (online publishing), direct selling or reference could mean visiting personally to raise a subscription for ads. You can raise subscriptions for advertising on your website or align with manufacturers whose products you plan to sell. You can now visit an office, offer them a download of a free software product link of which included on your website, and request them to subscribe to your newsletter in favor. Next, you refer them products that you are entitled to advertise as publisher and earn a commission (with the likes of AmazonCommission Junction) on sales through your newsletter as part of email marketing and personal interaction the next time you have an appointment with. Read More …

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How to save one-month rent while looking for new office to rent and why young professionals should opt for a rented home instead of buying a new property

You are looking for a new premise on rent for your small business. You understand that buying an office is a costly affair and means blocking a substantial portion of liquid cash which could otherwise be used for meeting other pressing needs of your business. Your need is urgent, and you want to accomplish your objective with minimal of cost. One strategy that you can pursue is to visit online property portals that are popular in your country, city and make searches that exclude brokers. For instance, you are fresh in Kolkata and want to rent an office within a week or two. Not a problem. Choose Google search engine by typing www.google.in (if you are from Australia, you type google.com.au). By default, Google opts the result for your region by itself and so you need not worry. You can just type www.google.com on the browser address bar. Next, type keywords like property portal, rent, office space, Kolkata. You can obviously try other keywords based on your imagination and requirements. Read More …

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Outsourcing: Where to stop?

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4 things to define in project report when it comes to value creation and how online marketplaces like Amazon fare

When starting a new business, a project report (also called business plan) that analyses among other things prevailing market condition, investments required in short-term and long-term, and anticipated risks is crucial. Here are the four things to define while preparing project report for your business when it comes to value creation:

  1. What value your business intends to provide.
  2. To whom your business seeks to provide this value.
  3. What resources/partnerships your business can mobilize to provide the value.
  4. How your business will produce added value.  Read More …
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Relevance of face-to-face marketing for life insurance agents in India

Like many other businesses before the advent of the internet, face-to-face contact was considered essential in selling a product and insurance is no exception with agents bringing a bulk of business for an insurance company. Now, at a time when direct sale of insurance policies by visiting the website of an insurance company or use of comparison websites is picking up because of the internet that eliminates intermediaries like agents, the role of agents, especially in cities and towns with audience comfortable using PC, is redefined. It can no longer be offering and collecting data from clients which can be done by clients themselves through online means. The challenge for agents here is to provide more value-added services by including insurance as part of complete financial planning. Read More …

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3 components of brand name and a business idea for freelancers and investors

Here are three components of a brand name to start with:

  1.  Brand name itself (Google)
  2.  Logo
  3. Domain name (google.com)

According to Margot Bushnaq, founder of BrandBucket, there are eleven features that make up a good brand name (How to Choose a Business Name – An Introduction):

  1. Top Level Domain or TLD
  2. Length
  3. Real Word/Expression
  4. Alphabet
  5. Pronunciation
  6. Spelling
  7. Conflicts
  8. Industry Match
  9. Longevity
  10. Uniqueness
  11. General Retention

It is easier to assign score to TLD (.com commanding greater weightage than .net and .org) and Length of domain name (shorter domains commanding more value; according to BrandBucket, exponentially important as the name gets shorter) than Pronunciation and Retention, which according to BrandBucket, are most difficult of all features to rate. Trademark requires a country-specific approach. Read More …

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Buying a franchise? Few points to consider

If you are having adequate capital and looking to start a new business, you can consider buying a franchise of an existing brand. The advantage is that you need not introduce or convince from scratch to local populace about the product. The product is already popular and you reap the value of the brand in your locality/area. There is, however, no free lunch. As a franchisee, you will be asked to pay a price for the brand value by the franchisor which will form a significant component of cost. Read More …

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Organic growth and inorganic growth: An insight

The term ‘organic’ denotes the way living beings develop from the womb (internal growth). Time plays a crucial role. Inorganic growth is like assembling built parts (organs) into a system. This is how Investopedia explains: There are two ways for human beings to keep our heads warm. We can grow hair, or we can put on a hat. It takes a while to grow hair, but we create it ourselves. We do not have to pay money for hair; the body grows hair naturally. The hair is equivalent to organic growth, and a hat is equivalent to inorganic growth. Hair doesn’t cost anything, but it takes a while to grow. Those people that don’t grow hair fast may be better off buying a hat or a wig if it’s cold outside. Read More …