If only we would know how a new product will do in the market, we will be super-rich. In this data-driven world, all innovations are highly backed by data and are really coming from consumer needs measured on a regular basis. However, still, new products fail in the market causing drastic losses and stalling growth …
Category: Business
How to split your marketing budget between customer acquisition and retention activities?
In any industry, customer acquisition and customer retention don't increase indefinitely as marketing spend continues to increase. One hits a ceiling (depending on industry to industry) even though marketing spends continue to increase. This brings an entrepreneur or a marketing leader to an important question: how can one determine the optimal way to split marketing …
Working Capital Funding for Retail Businesses
Retail is a capital-intensive business, and with large retail players constantly expanding their market footprint, smaller retailers are always in a need to expand into new products, categories and aggressive customer acquisition to build turnover. Dealing with difficult suppliers, uncompromising consumers shifting to competitors every second is making managing working capital increasingly difficult for small …
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Similarities between Brick & Mortar Stores and Online Retail
It is a common misunderstanding that online retailers don't have major costs as brick & mortar stores do and therefore they don't need to have higher margins than the brick&mortar counterparts. However, online retailers do have high costs and they provide every consumer-experience option that a brick & mortar store provides. The below is a …
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5 Sources of Power in Organizations
People in various positions in an organization exercise power or influence in varied ways. There are various ways an individual exercises his/her power over others in an organization. Legitimate Power Legitimate power is also known as positional power. It's derived from the position a person holds in an organization's hierarchy. Job descriptions, for example, …
Flipkart Big Billion Day 2018 Television (TV) Deals – How to get the best value deals? (BBD and GIS)
It is the festive time of the year again in India and like every October we are going to see a huge e-commerce sales season in the form of Flipkart Big Billion Days and Amazon Great India Sale. In this post, we will talk specifically about Flipkart Big Billion Days and the expected offers that …
Head & Tail Categories – Selection, Turnover (GMS), Margin and Rotations
Retail management is all about the rotation of capital. To emphasize the importance of rotations, let us take an example: Let's say I have Rs.10,000 to invest in my business and I am reasonably good at making sofas. So, I invest my Rs.10,000 in raw-material and labor and make a sofa costing me Rs.10,000 (exhausted …
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Laundry Machines Needed To Start a Commercial Laundry in India
This article was contributed to Brandalyzer by Austine D'Souza. Austine is a co-founder of a Lonavala based laundry startup and has successfully run the business for 4 years. He works at IIT Bombay currently, and blogs on machine learning at http://www.zerosnones.net. As seen in the previous article, the laundry machines that are used for B2C and …
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Know-how & Challenges in starting a laundry business in India (and how small players use Diversey to attract customers?)
This article was contributed to Brandalyzer by Austine D'Souza. Austine is a co-founder of a Lonavala based laundry startup and has successfully run the business for 4 years. He works at IIT Bombay currently, and blogs on machine learning at http://www.zerosnones.net. Convenience is the new currency of our living times and it has taken over our …
Laminate vs. Veneers and Plyboard vs. MDF vs. Particleboard
Not every furniture that is in brown color is made of actual wood! Don't make this mistake especially if you are in the market to buy furniture. At a broad level, wood comes in three categories - solid-wood, soft-wood, and wooden boards. Solid wood formats are teak, rosewood, mahogany, beech, oak, mango wood, etc. Soft-wood …
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Are You Losing Money By Calculating Margins Wrong?
I spent time on Friday helping a client update spreadsheets and Excel reports that used an incorrect formula to calculate the margin on bids for construction jobs. While this particular client was looking for a margin of 25%, he was actually getting one closer to 20%. On a $100,000.00 bid, that can be the difference …
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About Interstate Shipping in India
Unable to ship your products on time to your customers? Are your shipments returning to you after getting stuck atInter-State Checkpoints? Having difficulty in understanding the rules and finding the interstate shipping forms? If these are the kind of questions that are troubling you with interstate shipping, then we have something incredibly awesome to share with …
How VAT works?
VAT -- Value-Added Tax -- is the biggest tax reform in the last 50 years of independent India and will change forever the way traders do their business. But do you understand VAT? Don't you need advice on the new VAT laws and how they affect your business? No need to worry, help is at …
Usage of debit note and credit note
Purchasing and Selling of goods are very common in day to day life, and in the same way, returns of goods are also a very usual thing nowadays. Debit Note and Credit Note are used while the return of goods is made between two businesses. Debit Note is issued by the purchaser, at the time of …
How to disagree with someone more powerful than you
Power is the ability to influence the behavior of others with or without resistance by using variety of tactics to push or prompt action. There are six sources of power - legitimate power, referent power, expert power, reward power, coercive power, informational power and power tactics (behavioural, rational and structural tactics). Your boss proposes a …
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Gross Profit vs. Operating Profit vs. Net Profit
At the core, profit is earnings minus expenses. However, we want to bifurcate and come up with various variations of profit to understand the business better. Therefore, at the first level, we have gross profit. Gross Profit is nothing but 'Sales - COGS' This shows how much profit are we earning without considering our expenses and …
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Decoding or understanding your restaurant bill
Not everyone is aware about Service Tax and VAT taxation details. So let's demystify these charges and understand the components that inflate your restaurant bills. Service charge Service charge is collected by the restaurant for rendering its service to you. It is not a tax and is not levied by the government but purely charged …
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Calculating Distributor or Dealer ROI
This is a post that is written on gyaanokplease.blogspot.com and the link to the original article is here. I just cannot emphasize enough about how well this article has been written and hence I've included even some of the comments. Thanks to gyaanokplease for this post. So probably the first thing that your distributor/dealer/stockist is …
Amazon’s Business Growth Flywheel
This is a re-blogged post that is written by Corey Eastman and the original link to the article is here. What’s the DNA of a growth strategy? When Jeff Bezos first started Amazon he drew what’s now known as Amazon’s Growth Flywheel on a napkin. Similar to how nature has patterns that repeat or reproduce, …
Sole Proprietorship vs. Partnership vs. Corporate vs. Limited Liability Company – Various ways of forming a business organization
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