4 Steps from A Startup to A Growth Company

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Working won’t make you rich but having your own business plan will. Starting own business has become a trend as of late. Many people dream of having a billion-dollar company but a few succeed in it, for having even a successful company is an achievement in itself. Starting a company is fine but making it a profitable venture is what takes a hell lot of dedication. First of all, you shall have to be gutsy to startup. Startup requires flexibility and must be loosely structure, for the growth and communication transfer needs to be fast.

A startup may or may not be a company. It can be few guys sitting in a room and developing an application to provide services to people. It is also not about being young or old. There is no age for a startup. A boy as young as 15 can be a budding entrepreneur or a man of 40 can think of starting up. It’s not about cash either. A person with cash in thousands can start up. Also, there is no necessity of innovation. It can be an idea that can revolutionize how things work. Take Uber, the biggest cab service company, for an example. It does not have its own cars and it was just an idea

If India needs to succeed, startups need to be the ones aiding. With no funding of their own, the startup guys, who aim to be big entrepreneurs can take steps that revolutionize the world. But after everything is done, the company is started, there is only one thing that is in the minds of the entrepreneurs: What next? What steps do I take to become one of the top notch businessman in the country? What makes best entrepreneurs is the thing that they reach quality and scale, all at once. The one who manages to reach both of the parameters along with new policies and plans is going to succeed in the long run.

One other thing is that all startups cannot be linked directly to technology. Not all startups are about technology. Startups may be a part of the digital economy and still not include technology. What makes a difference is whether, or not, the startups use technology but how they use it.

To make your startup a big company, you need to give in all. These are the 4 steps that need to be followed.

  1. Find the right team

Having the right people in your executive team takes off half of the workload off your shoulders. Having the right mix of people can lift your spirits up and take you in the direction of doing your job. All the people must have different thinking levels and should be able to adjudge the pros and cons of the decision taken. Loyal, trustworthy and intelligent people are crucial for the transformation of any business. Having a good team is a great investment which will be crucial in good returns. A perfect team can be the best way to ensure higher returns.

  1. Stick to what sells best in the market

Selling way too many things in the market at the initial stages can lead to doom and no entrepreneur would want to shut his business when it has just begun. Doing too many things altogether can spoil your curry. It can lead to problems one after other. Add to operations slowly. In the initial stages, stick to what sells best. Find the good or service that sells best and proceed with it. Focus on core operations and leave the rest of the work. This is a widely acclaimed formula and works for almost everyone.

  1. Strategize and formulate a business plan

During the times of growth, the startup guys need to formulate a business plan. The strategy should be such that the company should slowly make plans and penetrate slowly and deeply in new market. The business plan should be made within the dimensions of the resources and if more of them are needed, it should think about ways to raise funds to accumulate those resources. The strategy should be that the products should take the center stage and rest of it is secondary. The entrepreneurs should make the most of the opportunities as and when they come their way.

  1. Review your business plan

Composing a business plan is not where it all ends. Next comes reviewing the business plans. It is important to review the business plan timely. The entrepreneurs should look at the future goals: Where they want to see their company in 3 years’ time. Your team should understand the plans you formulate and should give their review on what they think about the business plan. If you think that the plan needs to be altered or revamped, the planning team along with the entrepreneur should go ahead. They should not hesitate in doing that.

The startup entrepreneurs should not feel comfortable at any time in the starting of the business. They should devise plans and research about the industry they are in. An entrepreneur must not be free. He/she must keep researching and thinking about new things.

This article has been contributed by Simran Setia, Content Writer, LegalRaasta- an online platform for GST Software, GST Registration, GST Return Filing.

The Role of Bitcoin technology in the Insurance industry

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The increased breakthroughs in information technology have seen most industries transform from the paperwork that used to be time-consuming and insecure to paperless systems. Insurance firms have been striving to integrate technology in their service providers to ensure that customers have access to efficient, cost-effective, secure and diversify their services. Bitcoin technology is a type of digital currency that involves the use of block chain technology.

 

All Bitcoin transactions will be stored in a decentralized public ledger that is tamper proof. Such features will be playing a key role in creating trust among consumers of insurance services, and the technology is meant to ensure that there is a clear trail of purchase that prevents fraudulent transactions. Blockchain technology is a new type of consensus system that allows transactions to be quickly authenticated and securely maintained through cryptography, computational power, and network users, making the need for a trusted centralized authority irrelevant. Blockchain technology is used as a tool in managing massive, real-time data sets, ensuring guaranteed security, increased innovation, automation of processes, ensuring more utilization of peer-to-peer insurance and prevention of fraud in the insurance industry.

 

Reduce claim costs

The technology is tamper proof, and it creates room for insurance companies to provide smart contracts to their customers. Smart contracts are contracts that can automatically enforce terms when certain conditions arise. Smart contracts are more likely to ensure that insurance companies can manage claims in a transparent, responsive, and irrefutable manner. This will ensure that only valid claims can be are paid and no duplication of payments.

 

Building trust

The incorporation of blockchain technology by insurance industry players will ensure that trust can be built among insurers and between insurers and customers. Trust has the potential to increase customer loyalty for firms and attract new clients who will be encouraged by the firms’ successes. Trust can also play a leading role in reinsurance of smaller insurance firms by the larger multinational insurance companies.

 

Reduce fraudulent claims

Insurance companies can incorporate the bitcoin technology where blockchain technology will ensure that it reduces fraudulent claims. The technology has potential to detect false billings and tampered documents, as data is decentralized and immutable. Adoption of modern technology enables insurers to lower their loss-adjustment expenses and pass on the savings to consumers. The technology ensures that use of other people’s information to make a claim is limited and provides for encryption of data at the financial transaction level. Proper technology is meant to ensure that the amount of identification information available in the block chain is minimized hence a reduction in the risk of identity theft.

 

Cyber-crime reduction

Cyber bullying has been on the rise with more people having access to the internet and uploading their data online. Many insurance companies have found themselves on the receiving end, as most of the insured are prone to losses related to cyber-crimes. The companies that give free insurance quotes now have the option of adopting the blockchain technology, which has the capability to limit cyber liability. The common practice of central storage of data has been proved insecure, as it is prone to hacking. Bitcoin technology enables insurance companies to ensure the security of client information is guaranteed.

 

Bitcoin technology has potential to ensure insurance firms have a common claims-handling platform that would still make it possible for individual insurers to diversity products and services. Adoption of a blockchain technology is necessary for streamlining the insurance industry by ensuring individual firms can improve service delivery to customers making insurance claims. The technology is also likely to play a leading role in reducing fraudulent activities in the sector and creating a tamper-proof process. Societies can benefit from significantly reduced cases of stolen identities, low costs of making claims, free insurance quotes, and fewer cyber-bullying cases by adopting necessary technologies.

 

Why Should You go for an SEO Certification Course?

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SEO (Search Engine Optimisation) has become a core part of digital marketing over the years and if you are an expert in the industry, you can get the opportunity to work with some of the best organisations in the world. Also, SEO is a field where you can see people paving paths of success easily. There are two main reasons for SEO becoming so popular in the recent years – 1) it does not require a special degree to become an expert, just the right amount of skills; and 2) people from all walks of life can start their career in SEO (whether someone is a small business owner, work-at-home mom, journalist, or a blogger).

However, you need to learn the techniques, terminologies and have the knowledge to become a professional SEO person. SEO courses will help aspirants in that direction by providing effective optimisation techniques. Most of the times, there is a confusion among the aspirants to whether go for a certification course (which comes at a cost) when there are so many free videos available on the internet. The following points will clear such confusions and show why enrolling to a professional SEO training course has various advantages:

  • You can get a deeper understanding

 

Certification courses are usually designed to provide a comprehensive training to the candidates so that they are job-ready at the end of the learning period. That is why you can get a deep understanding of the subject and learn all the techniques involved in SEO practices. This will help you to be ready for any kind of interview questions and you do not have to prepare exclusively.

 

  • Professional begets professionalism

 

Unlike free course videos on the internet, certification courses have professionally curated learning modules taught by experts in the industry. Most of the courses are taught by a trainer with whom there are provisions to have one-on-one interactions if you have any doubts. Thus, when you get to learn the techniques and skills from a professional, you will also understand the type of professionalism associated with the industry.

 

  • You will acquire practical understanding

 

Practice makes a man perfect. We have heard that too often. To gain SEO expertise, one needs to practice a lot. Professional certification courses offer that opportunity to learn things in a practical manner. Most of the certification courses offer live projects to work on, which will help you to be acquainted with real-life SEO activities that create impact.

 

  • You are updated with the latest methods

 

A professional course will teach you all the latest techniques and methods in SEO and provide with factually correct information. These courses are generally developed under scrutiny by expert professionals in the industry. Thus, you will be ready for an SEO career directly after completion of such courses.

 

  • It is cheaper to let employees learn than hire an expert

 

Organisations who want to start the practice of SEO can let employees with interest go for training courses instead of hiring experts. This will help them to get the benefits without having to hire costly consultants. Entrepreneurs can learn SEO themselves so that they can optimise their websites with no additional costs.

 

  • You get to practice ethical SEO methods

 

The big search engines, including Google, check for unfair practices while optimising websites. So, it is important to follow the best and ethical practices in SEO. Certification courses train candidates only those methods which are ethical and pertain to the highest standards in the industry.

The Bottom Line

If you are thinking of pursuing SEO as a career option, it is always beneficial to follow the best learning path and a certification course will provide that. There are various online SEO courses through which you can master the skills and prove yourself as a certified online marketer.