Month: December 2020

Categories
Motivational

Unicorn 2020: This online beauty & lifestyle retailer start-up entered the $1 Billion Club in 2020

unicorn startup

The year 2020 not only be remembered for the chaos that it has created. For some start-ups, this year also means massive funding from investors across the globe. It will be memorable for them as they enter the unicorn club.

India has seen a record number of start-ups valued at $1 billion this year, and Mumbai-based online beauty & lifestyle retailer is one of them. Founded by Falguni Nayar, a banker-turned-businesswoman, Nykaa was launched in 2012.

A graduate of the Indian Institute of Management, Ahmedabad, Nayar was born and raised in Mumbai. Her father ran a small bearings company, assisted by her mother and the conversations revolved around investments, stock market and trading.

For 18 years, she worked with Kotak Mahindra Capital Co. Nayar, who was working as the managing director and head of its institutional equities business left in 2012.

“Once I turned 50, I thought I would become complacent,” she said. Initially, it was hard to quit the job at Kotak, “where everything was going right”, but with the self-imposed deadline of 50 loomings, Nayar did just that.

Before the Covid-19 pandemic came unannounced, Nykaa claimed profitability for the fiscal FY19 last year in December. The company also took the initiative to deliver the essentials to over 14,000 pin codes across the country. In May 2020, after raising funding of Rs 66.64 crore from its existing investor Steadview Capital, it attained its unicorn status at a valuation of $1.2 billion.

Started as a multi-brand online beauty retailer, today Nykaa has more than 46 stores across the country and has extended its online presence through a mobile app. The company has stocked up more than 1500 genuine brands and also provides free shipping.

Nykaa has launched its NykaaDesignStudio where subscribers can share their ideas and interact with each other. With its growing popularity, today it competes with online marketplaces like Myntra, Purplle, Flipkart, and Amazon. The platform follows an inventory-led model and has its private label in the cosmetics and personal care segment.

Not only women, but Nykaa has also launched NykaaMan,an e-commerce platform for personal grooming products for men. It has also acquired 20Dresses.com for an undisclosed amount in a move to further growth.

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Categories
Startup

Startups in India Bagged $9.3Bn Investments in 2020 Despite COVID-19 Challenges: Report

Startup
Startup (Photo Credits: Pixabay)

Amid the COVID-19 pandemic in India, the startups have been hit hard but have managed to emerge successful in attracting investments this year. According to data from consultancy firm Tracxn, Indian startups received investments to the tune of $9.3 billion in 2020 despite the coronavirus challenges. The report reveals that fortunes for the Indian startups turned significantly in the second half of the year. The study reveals that startups raised just $4.2 billion in the first half of the year from about 461 deals while the year saw 11 Indian startups including RazorPay, Glance and Unacademy becoming a unicorn.

According to a report by IANS, the figure is much lower than the record $14.5 billion raised by Indian startups last year as the number of deals this year reached 1,088 from 1,185 last year, TechCrunch reported on Monday. Reports inform that there were 20 funding rounds with dealsize $100 million or larger in 2020 compared to 26 in 2019. Similarly, rounds with dealsize $50 million to $100 million fell to 13 in 2020 from 27 last year. Moreover, the figures exclude the funds rasied by Jio Platforms, which alone bagged over $20 billion investments this year.

The Tracxn report further adds that global technology giants like Google, Microsoft and Facebook wrote checks for Indian startups, while Chinese giants such as Alibaba and Tencent made fewer investments amid border tensions with India.

Categories
Finance

Mandatory 1% Cash Payment of GST Liability will Reduce Fake Invoicing & Tax Evasion

good and service tax
GST (Photo Credits: Wikimedia Commons)

To curb the menace of fake invoicing, the Central Board of Indirect Taxes and Customs has amended the GST rule. According to the new GST amendment, the taxpayers now will be required to pay 1% of GST liability in cash with effect from January 1, 2021.

This rule applies to registered taxpayers whose taxable income, other than exempt supply and export is more than Rs 50 lakh, monthly or the annual turnover is more than 6 crore. The rule, however, is not applicable in the cases where the registered person has deposited income tax more than Rs 1 Lakh in each of the last two years.

 

Also, the registered users who have received a fund of more than Rs 1 Lakh in the preceding FY on account of the export or inverted tax structure, are out of the purview of this rule. If the registered person belongs to a government body, PSU, from a local authority or any statutory body the rule will not apply to him/her. Small businesses including MSMEs and composition dealers are also exempted from the new rule.

 

Registered users who have paid output tax through cash over 1% of the total output tax liability, will be exempted from paying 1% of GST liability in cash. The mandatory requirement of 1% cash payment of GST liability will be applied to about 45,000 taxpayers, which only constitutes 0.37% of the total businesses registered in the Goods & Services Tax System.

 

The provision is meant to bring fraudsters or suspicious dealers who use a lot of fake credit to evade tax and make no cash payment under control. It would neither affect any genuine business dealer nor it will affect ‘ease of doing business’ in any manner. The new rule also restricts the use of Input Tax Credit for discharging GST liability to 99 percent.

Categories
Startup

4 Simple Business Tips That Will Help You Stand Out From Your Rivals in the Competitive Market

Businesses (Photo Credits: Pexels)

For any business to flourish, it takes a great deal of understanding of the market, your product and its need in the market and your target audience. Communication certainly plays a very important part in growing any business, be it online of offline. Few things that will help you stand out from the rest is, know what your customer wants and try and satisfy their demands, timely communication with them and not compromising on follow-ups. You have to understand that for every success you have in growing your market share, other businesses will inevitably lose ground, and you will surely have rivals in the market.

The key factor is that you should establish your business in such a manner that you are not affected by any new entrant in the market. Here are four easy business tips to gain a competitive advantage over your rivals. You can use these tips to insulate yourself from the threat of new businesses in the market.

Provide Solution, Don’t Just Sell Products

Unless you are a known brand, people don’t really search for you as a ‘brand name’. People are just looking out for things that can help them solve a problem or find a particular type of product. If you want to make a difference, you should convince the customers by explaining them in simple terms of how or why your product can help them in solving their problem.

Take Friendly Customer-Facing Staff On Board

This is an important point that every entrepreneur should keep in mind. People tend to buy a product also because the sales person who’s attending to them is just up to the mark, with impeccable skills and behaviour.  Friendly, outgoing and cheerful customer-facing staff will always attract more sales and more people, thus helping you grow your business.

Watch: Low Investment | Business Idea | Dr Vivek Bindra

Own Your Niche

Understand your expertise and go ahead with it. Speciality will really bring you genuine customers. People usually attribute ‘specialists’ with higher quality products that the others who act like ‘Jack of All Trades’ but are a master of none. Your speciality should be kept exclusive and you should try perfecting a single product or service. It should certainly be something that you excel in and have a thorough knowledge about it.

Be Humble And Down To Earth

Always be open to leaning news things and don’t ever get too satisfied with your business. There is always scope for improvisation! Even if your business does wonders and flourishes in no time, don’t get carried away by the success. Always keep in mind that popularity is a double-edged sword! Remember the lessons you’ve leant and heard about the downfall of countless hitherto thriving brands. Market leaders tend to get lazy and complacent when they realise their business is going good.

Categories
Strategy

Digital Marketing: Here are 5 Ways to Promote Your Business Online

Digital Marketing| Representational Image (Photo Credits: Pixabay)
Digital Marketing| Representational Image (Photo Credits: Pixabay)

In today’s fast paced and information centric world, people are increasingly spending more and more time over the internet. Businesses are also shifting the digital platforms and exploring online marketplaces.  Amid the COVID-19 outbreak and the consequent lockdown, the importance of having an online business was felt by various owners. Physical marketplace and traditional brick and mortar shops are moving towards online spectrum of business environment. It is therefore essential for businesses to promote themselves in the digital world as well. 4 Ways to Grow Your Business Online Without Spending a Lot of Money.

Marketing and promoting the business over the web is not as difficult as it seems. However, every firm should make a detailed plan after proper analysis of the various online platforms and create promotional content accordingly. Here are five ways to promote your business online –

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Online Advertising

Advertising is the first most instrument businesses use to reach its potential customers. Over the web also, businesses’ need to advertise themselves. Various social media platforms including Facebook, Instagram, and YouTube among others provide opportunities for businesses’ to post promotional content and advertise themselves. Firms here have an opportunity to be as creative as it wants, the advertisements can include videos, images, infographics, customers’ review among others.

Collaborate with Social Media Influencers

Another way to increase online presence is by tying up with various social media influencers. Social media influencers have a huge follower base and it provides an opportunity for brands to amplify their online presence. Collaborating with influencers’ provides an added advantage for the firm as people tend to have more confidence on them and in trying to follow their lifestyle end up buying and using products endorsed by them. 5 Effective Online Marketing Strategies For Your Bakery Business Ahead of Christmas 2020 & New Year 2021.

Create Social Media Profile

Social media provides an opportunity for the business to directly engage with its existing and potential customers. By making profile on digital platforms, firms can be in a continuous touch with its customer base. Through various analytical tools, businesses can evaluate the liking and disliking of the customers and promote, modify its content accordingly to suit the wants of its followers.

Use Business Listing Sites

Another way of using digital platforms to promote the business is by listing it on various business listing or catalog sites such as indiamart.com, sulekha.com, tradeindia.com among others. It helps the business in two ways. Firstly provides an online presence to the business and secondly such websites are mostly free of cost, hence business can be promoted online without any additional investments.

E-Mail Marketing

Personally engaging with the customers is always helpful for the business to grow. E-mail marketing helps the businesses to directly contact the customer and help understand their need and redress their grievances.  It also gives an opportunity for the businesses to get continuous feedback from the customers. Developing a connect with the customer is the first principle of marketing and e-mailing the customers provides an opportunity for the firm to make that connect and reap benefits.

Online presence ensures a wider market base for the business. It also helps the firm to connect with the customers’ requirement and work accordingly. Hence in today’s world, online presence aids the success and long term survival of the businesses.

Categories
Business motivation

6 Low Investment Business Ideas to lead in 2021

low cost business ideas

Starting a business is not just about having unique ideas. It is about changing your ideas into reality. A bunch of innovative business ideas that can create a revolution shortly will remain an idea without the right direction.

The initial stage is the most struggling period for most aspiring entrepreneurs who struggle to find a balance between investments & ideas. It takes determination and confidence, along with a proper business strategy to give your idea a foundation of reality.

If you are looking for low-investment business ideas, we have listed some of the cheapest business ideas you can start easily. Find them below:

  1. Wedding Planner- Indian weddings are crazy! Not just in our country, but they are famous all around the world for their charm. If you love the madness that revolves around weddings, you can become a wedding planner. If you have good communication skills, creative ideas, innovative concepts, and a strong ability to make decisions, you can excel in this field.

 

  1. Blogger- If you love writing creative blogs and articles, you can become a blogger. Blogging is one of the best low-investment ideas in which all you need is an internet connection, a laptop, or a desktop. Providing good quality content can help you make good profits with zero investment.

 

  1. Social Media Influencer- Whether you are passionate about food, fashion, traveling or anything that may inspire the readers, you can become a social media influencer. You can use popular social media platforms like Instagram, Facebook, or Pinterest to promote your content and increase your followers. Many online influencers are getting paid for collaborations with the brand.

 

  1. Recruitment Services- Another small investment business idea is to set up a consulting firm. You can provide staffing and recruitment services to other companies who need manpower. You can contact them and find their requirements for a particular job opening and then recruit people for that profile.

 

  1. Translator- If you are proficient in one or two languages and speak fluently you can become a translator too.

 

  1. SEO Executive- The paradigms of marketing is digitally revolutionized with the unannounced arrival of Covid-19 pandemic. The entire world is online now and even popular brands have changed their marketing strategies. With a good knowledge of SEO, backlinks, e-mail marketing, PPC campaigns, and Google analytics, and content marketing you can make good money. You don`t need any initial investment for it. It is one of the cheapest businesses to start.

Do you have a unique business idea in your mind? Learn how you can start your own business with https://www.badabusiness.com/life-time-membership?ref_code=ArticlesLeads .

Categories
HR & People Management

7 Key Differences that make Intrapreneurs better than Employees

intrapreneur and entrepreneur

We must have come across multiple times the term ‘Entrepreneur’ in our daily lives. But are you familiar with the term ‘Intrapreneur’? If you think we have misspelled a word here, let us tell you that we certainly have not.

‘Entrepreneur’ is defined as a person who is a risk-taker, and comes up with his venture to sell his products at a certain price. Intrapreneur on the other hand works in an organization takes charge of new ideas and promotes innovation within the limit of the company guidelines.

‘Intrapreneur’ is a newly introduced term in today`s times, however, it was first introduced in the 1980s when a book was published by Management Consultants Gifford and Elizabeth Pinchot. If you are looking for a constructive way to build a motivated team in your organization, turn your employee into an Intrapreneur.

 

Here is a list of difference between an Employee and an Intrapreneur:

  1. Speed- First thing that makes these two professionals different is their speed of doing a task. A self-motivated Intrapreneur finishes his work at a rapid speed without compromising the quality of the work. But, an employee takes a considerable amount of time to finish the work.

 

  1. Approach- An Intrapreneur will always have a problem-solving approach. He will focus on finding a solution to a certain problem with his innovative ideas and critical thinking. However, an employee will always focus on problems and setbacks without making an effort to resolve them.

 

  1. Ownership- Where an employee considers only his relatives as his family; an Intrapreneur considers the entire organization as his own family. He not only takes ownership of his assigned work and but also tries to inculcate new ideas to experiment with his projects.

 

  1. Value- What makes an intrapreneur different from an employee is the way they create and add value to the company. An employee becomes a consumer by doing only their assigned tasks. An intrapreneur becomes a contributor by sharing his vision and bringing a new way to do existing projects to the table.

 

  1. Ideology- Another difference between employees and intrapreneurs is their ideology of working. An Intrapreneur is proactive and self-start, whereas an employee is reactive and needs a push-start.

 

  1. Availability- An intrapreneur is available round-the-clock, whereas an employee is available only for time-to-time. An employee works for 9 hours and leave, while an intrapreneur finishes his work, irrespective of the time it takes for him to finish it.

 

An Intrapreneur gets paid for the value he creates in an organization and promoting new business ideas and breakthroughs, while an employee gets paid for the tasks he performs in his official hours.

 

Build a team of Intrapreneurs in your organization by motivating them in simple and easy ways. Join our https://www.badabusiness.com/life-time-membership?ref_code=ArticlesLeads where you can learn how to take your business to next level.

Categories
Finance

FY Budget 2021-22: FM Sitharaman Says the Upcoming Budget will be like Never Before!

budget 2021

The finance minister Nirmal Sitharaman on Wednesday concluded all the pre-budget consultations for the 2021-2022 Union Budget. 9 stakeholder groups and 170 invitees participated in the 15 meetings held between December 14 to December 23rd, 2020 online.

The Finance minister of India held a meeting with the sector experts related to infrastructure, energy, and climate change to sought suggestions regarding the upcoming budget. According to her recent statement, the upcoming budget will be completely different. The Union Budget for 2021-2022 will be presented under the shadow of the Covid-19 pandemic. The budget for the financial year 2021-2022 will be presented in the parliament on February 1, 2021.

 

The FY22 budget will focus mainly on the infrastructure, which is considered one of the most important parameters of growth. Many economists have predicted that the Indian economy will shrink by 7% to 9% in 2020-21. The finance ministry expects marginal growth in the economy from the December quarter. The Indian economy is also expected to bounce back in double digits on a low base.

 

Apart from the Finance Minister Nirmala Sitharaman, Union Minister of State for Finance and Corporate Affairs Anurag Singh Thakur, DIPAM Secretary Tuhin Kanta Pandey, Finance Secretary AB Pandey, Expenditure Secretary TV Somanathan, Chief Economic Advisor Krishnamurthy Subramanian, DEA Secretary Tarun Bajaj, and senior officers from the Ministry of Finance and other ministries also took part in the meeting.

 

Sitharaman had chaired all the pre-budget meetings that were held online with multiple stakeholders, industrialists, economists, and farmer bodies, etc. for their inputs and suggestions on how to revive the economy that has been severely affected by the coronavirus pandemic.

 

The stakeholder groups made multiple suggestions on various subjects that included Fiscal Policy (including taxation), Insurance, Bond Markets, Health & Education, Exports, Infrastructure Spending, Social Protection, Water Harvesting & Conservation, MGNREGA, Public Distribution System, Production-linked Investment Scheme, Ease of Doing Business, Branding of Made in India products, Public Sector Delivery Mechanisms, Innovation, Green Growth, and Non-Polluting sources of Energy and Vehicles, among others.

 

The stakeholders’ groups included representatives of the Health, Financial and Capital Markets, Education and Rural Development, Trade Unions and Labour Organisations, Water and Sanitation, Industry, and Trade, Services, Infrastructure Agriculture, Energy, and Climate Change sector, and Industrialists, Agro-Processing Industry, and Economists.

 

The Finance Ministry also said “the participants in the meeting lauded the efforts taken by the Indian government to flatten the COVID-19 curve a slow but strong recovery of the economy in the second quarter of 2020-21. They further stated that India is among very few countries whose economic activity has risen with declining pandemic induced fatalities”.

Categories
Startup Technology

4 Ways to Grow Your Business Online Without Spending a Lot of Money

Online Business
Online Business

Going digital is the trend today, so if you have an online business, it will surely grow over the time without any doubt. If you are planning to  start an online business, then you cannot afford to waste money at the initial stage. You don’t have to put in a lot of money into growing an online business. In reality, there are certain things that you can do  without spending any money at all. It just takes little creativity, effort and imagination. Take a look at these 4 ways to grow your business online with a small budget.

Create Rich Content Online

Rich content will always attract readers. Whether it’s a company blog or a product description, Creating high-quality content should be the main focus. For this, you need to really think out of the box and be creative enough to lure the readers with you writing skills. Use facts appropriately and try and engage the readers so that they are engrossed in the write-up. Only if this happens, your online business. In short, it is all about how well you can manage to engage the audience with what they need.

Design Layout and Presentation

The first thing about online content is how it looks when the reader sees it. The layout of the firm, be it any firm, should be appealing to the eye. It shouldn’t be tacky and haphazardly presented. You need to understand your target audience first- youngsters, middle-aged or any other category, and choose colours and layouts accordingly. You should remember that more than one-third of visitors will leave a site if the layout is poor. All that you should keep in mind is the choice of the colour, graphics and even the overall layout of the site. Your aim should be to deliver a pleasant visual and functional experience to people visiting the website.

Watch: Low Investment | Business Idea | Dr Vivek Bindra 

Be Mobile-Friendly

Not everyone carries a laptop or a tab everywhere they go, right? So the basic thing that one should keep in mind is to have a mobile-friendly website. Most people these days surf online from their smartphones. Your website should have a mobile variant like an app so that it becomes hassle-free for your customers.

Be an Active Participant in Online Communities and Use social media

Social media can help your business reach more than lakhs of people in single day. Facebook, Twitter, YouTube, LinkedIn, and other social media platforms have highly engaged users and can help you fetch business and establish your brand identity. Moreover, be active in online communities where people go to post their questions, find content, and explore. Top communities on the internet that are really popular include Reddit, Quora, TripAdvisor among others.

 

Categories
Business motivation

Top 3 New year Business Ideas to Start in 2021!

business ideas 2021

Planning to start your own business in 2021? New Year is the best time to transform your idea into a beautiful reality. However, it is essential to take the new normal into account.

 

There are plenty of factors that make New Year 2021 immensely special due to the challenging times that we have faced this year. The world prayed for the current situation to get better, and the countdown to New year brings a ray of hope and happiness to brighten up our lives.

 

Most of the people take a break from their monotonous routine to celebrate it with their family. However, this time also offers several opportunities to start your own business. If you can create an exceptional experience with customers, we have a list of creative holiday business ideas for you.

 

Check out these small business ideas that you can start with a little spin to make money during this holiday season:

  1. Virtual Party Planner- Considering the current scenario, most people will avoid traveling due to the Covid-19 pandemic. Become a virtual party planner and help families by suggesting fun ways to plan and coordinate amazing get-togethers on video calls. Let your imagination go wild and come out with exciting games that can be played remotely.

 

  1. Designer Crafts & Gifts Baskets- If you enjoy making someone`s day special, selling your personalized holiday gifts online can be a unique new year business idea. You can also focus on decorated gift baskets with different themes.

 

  1. Flower Decorator- Becoming a flower decorator is another great small business idea as people look for good quality flower arrangements. If you have the right skill, creative mindset, and adequate knowledge, it is the perfect time to start your own business.

 

Starting a business might seem daunting at first, but if you have a unique New Year business idea, then without wasting any further time, execute it with smart business strategies.

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