Business innovation
Business, News

How has Innovation Helped A New Businessman?

In the running and over exploding field of entrepreneurship, innovation is vital for every company today, especially as the consumers are becoming more demanding and aware of their choices.

Gaurav Mohindra believes that entrepreneurs need an extra edge to stand out in their industry, and only innovation can provide that. He says that profitable exploitation of new ideas is crucial to a business because it improves the processes of the brand and it brings new and improved products and services to market and clients. It also increases the efficiency of a business and improves its profitability.

Marketplaces have become highly competitive, which is why the need to be innovative has increased. In addition, the competition has increased in the market due to broader access to new technologies and advanced trading.

The truth is that the key to any successful business is the ability to produce fresh new ideas because it keeps the operation running and the products and services fresh, explains Gaurav Mohindra. So innovation has to play a crucial role in any business venture.

Though you might think that your enterprise has a unique and exclusive way of functioning, in reality, there are high chances that many others would be doing the same, and they might be putting their best foot forward to succeed. 

If you want to stand out from the rest, you need to involve innovation as a part of your business idea. Innovation means doing something to the best of your abilities, but with some twists/amendments so that you can make your own unique identity in a cluttered market. 

Let’s understand in much detail how innovation helps new business people. 

  • It helps the business grow in leaps and bounds.

A study conducted by Gaurav Mohindra has proven that businesses that use innovative ideas can scale up their structure much more.

Innovation helps a business to gain more customers and grab a more significant share of the market. Additionally, it also makes it convenient for the company to grow.

  • It helps make a niche for yourself in competition.

The market is a vast place to compete, and it is filled with numerous individual businesses serving the same products as you are. 

To make your business strive and have its marketplace, you need to be innovative, as it has the potential to serve your audience with unique services and products. To do so, you can create or maybe recreate your product with a pinch of your personalized creative idea. 

  • It is vital for future growth.

Innovation is an essential factor that ensures consistent growth of a business from a future point of view. 

It plays an essential role in adding newer business models and products to the business. 

A sustainable innovation idea also ensures that current products continue to meet customer demands.  An innovative business can stand firm even if the market experiences constant vagaries. Such companies are untouchable, ready to face any challenges that future market changes can bring in. 

Business, News

Imperative for Starting a Business

If you are someone who is planning to set up a Small Business or big business you need to follow certain essentials. Here’s what you need to know about starting any business.

The first thing before setting up any business is the right set of perception and know-how. 

Let us see how you can set up a successful business opportunity.

1. Finding a Business Opportunity:

Opportunities are present around you, but you need to search for the perfect opportunity. It is a skeptical process when there is an abundance of opportunities present around you. But you need to find something that you have passions for, as this will work best for you says Gaurav Mohindra. It is very vital while selecting a set of business opportunities that your skills are vitally important so that you can easily enter the industry.

2. Setting up a Business plan

Without a proper business plan, there would be no way to perform and start your business. A full-proof business plan will give you a proper insight and a better understanding of your industry you are going to enter. The business plan should have a step to step guide for implementing the business plan. Also writing it or making a flow chart will help you out in a clear and better understanding.

3. Arranging for finances:

Finances are the blood of a business without which no activity can be completed. Invest in the business is a long process as there are many areas you need to invest in, right from arranging fixed capital to working capital loan says Gaurav Mohindra. Also for start-ups, if you don’t have enough funds, finding funds become a cumbersome task, therefore your business plan should be much competitive so that the lenders don’t think much before passing your loan or the public doesn’t think twice before investing in your company. 

4. Unique Business Name

Your business name should be unique yet understandable to the public. It should connect to your business activity so that the public at large could relate to it well. Also, it will help you distinguish yourself from other competitors, and will help in popularizing your brand bringing laurels to the company.

 5. Business License and Permits:

Another thing you need to think about before setting a business is the clearances. There is a lot of clearance and permits you need to pass before starting a business. All the paperwork and regulations are a must for setting up the business in a legal way. You need to tie up with the state authorities for various clearances, permits and paperwork says Gaurav Mohindra.

6. Business Location:

Another significant matter is the business location which should be such that which has proximity from the market. Your office or workplace should be easily accessible to the public. Location factors will attract a lot of factors like labor, raw material, purchasing. So, it should be selected keeping in mind all these variants. 

News

Profitable Business with Low Investment

Starting up a business is never an easy task. There are so many things which are to be considered while opening up a business such as land, labour, type of business, location, capital etc. But the most important thing is the investment says Gaurav Mohindra. Yes, money or capital really plays a very important role while opening up a business and therefore, people often get confused about which business they should start with while having a small amount of money in hand. Niece, following are some of the business options that can be open up with small investments:

1. Candle Making :

One of the best businesses which you can go for is the candle making business. Candles are used in large numbers and are in huge demand. There are multiple purposes for which people need candles. Moreover, these days, there are a variety of candles available in the market and people often look for new designs of candle. Candle making business requires a very low investment and can be opened up for a small amount of around 30,000-40,000 INR. Hence, you can now open up your own small scale business and earn huge profits without much risk and stress.

2. Fashion Boutique:

Fashion and clothing has always been in huge demand in the market. There are people who love to buy new clothes in order to maintain their status and looks. Girls are very picky in their outfits and try to get the trendy clothes whenever possible. Even men these days do not look for the budget while buying clothes says Gaurav Mohindra. So here is another business which can be opened with a very low investment but can help you earn huge profits. All you need to have is the uniqueness in your clothing. Fashion boutique is really in huge demand and can be operated for a small amount of money.

3. Delicious Bakery :

Bakery is another option available for the people who are looking forward to opening up their own business with a low investment. Cakes are always the favourites of people. On every occasion, people tend to cut cakes and celebrate. These days, the demand for muffins and cupcakes is also increasing, and this is the reason why bakery dealers are earning huge profits. Now, you can also earn huge profits with your very little investment. Open up a bakery right now and offer good services and delicious cakes to your customers and rule over the market.

4. Social Media Management Services:

There is no doubt that these days, social media is playing a very great role in the lives of people. Whether these are our big celebrities, or we talk about normal common men, everyone is trying to manage their social media accounts with great efficiency and effectiveness. People with great fan following always try to maintain their social media with beautiful pictures and graphics but not everyone has enough time to maintain their social media accounts. And this is the reason why social media management services are leading in the market. People who are providing social media services are earning huge profits by investing very low says Gaurav Mohindra. So here is why social media management services could be the best business option that you can choose for a low investment.

5. Selling handmade Products :

Each one of us has our own talents and skills. There are many people who are blessed with the skill of making handicrafts and art. So if you are one of those people who have that artist and crafting person in them, then you can choose to open a handcrafts business with your limited investment. You can definitely earn huge profits from this business.

Originally Posted: https://vocal.media/journal/top-5-most-profitable-business-with-low-investment

News

Business Ethics Are Important

The smooth functioning of the organization is possible by the Business Ethics. Moral principals in business are essential. Business ethics are moral beliefs that help in decision making in the business to achieve success. Following the regulations enhance the business growth and helps attracting more business. Different sets of rules, environmental regulations, salaries of employees, are certain example of Business Ethics. Another such regulations that become the backbone of the business is stopping inside trading and conspiracy, that must be looked for to attain minimum standards for business ethics and smooth success. The principals governing business has changed over time, moreover every business organization have different business ethics.

The captain of the enterprise must stick to the principals, this helps the workers at the base levels to follow such ethics as suggested by Gaurav Mohindra. The leader should lead his team of employees so that they would follow him blindly due to the management’s ethical practices.

However, the company flourishes by leaps and bounds once the ethical foundation of business is laid. It helps in attracting the best possible talent for the company and building and maintaining a good reputation. The bond between the employees and the management becomes stronger when the top brass of the enterprise ethically run the business. The principals of the business vary from industry to industry and from one country to another. The moral values of the business are sometimes compromised due to the nature of the business’s operations. All media companies must abstain from showing those programs which are not good for the children, thus being ethical and promoting true values. The companies associated with energy must stick to the moral principles and do not play with the environment in particular. The firms that produce energy, particularly nonrenewable energy, should not do anything that forces it to answer various regulatory bodies suggested by Gaurav Mohindra. The environment should be at the top of the priority list of different power companies if they want to avoid notice from the various regulatory bodies. Various studies have revealed that business ethics leads to better corporate governance levels and supports the policies of different companies. There are different types of business ethics, such as personal responsibility, official responsibility, corporate responsibility, economic responsibility, legal responsibility, personal and business loyalties, and technical morality as said by Gaurav Mohindra. Keeping promise, being trustworthy to the customers, being loyal, fairness and concern for others are few principals of ethics in business. Judgment of right or wrong is one of the importance ethics in business that must be taken care of. All decision making by the board members in a business should primarily be influenced by the culture of the successful company. These are the certain norms that becomes the foundation of the business and helps the business to flourish and hold its roots in the market.

News

Send Money To Friends Through Facebook

Facebook announced a pretty cool feature today!  Starting today, Facebook users in France and the UK can send money amongst friends via a peer-to-peer payments service.  Facebook indicated that this is one of the most requested features in Messenger.

The new peer-to-peer payments will not be available in all of Europe yet, as it will only be available in UK and France. But, I’m sure if it’s successful it will be rolled out to a wider audience.

Facebook states (and we agree) that this is a convenient and secure way to send and receive money right in Messenger threads.  It will make it fast to send money without leaving a conversation. They have also added an animation of falling Euros and British Pounds, depending on the country, just for fun.

From Facebook – this is the first time Messenger has extended p2p payments since launching in the US in 2015, and since then, p2p payments in Messenger have been widely used to make life more seamless. Some recent Messenger research has shown it’s not just the transactional act of paying someone back, it’s the emotional importance of doing so. Reciprocity fosters happiness and builds trust. We’ve heard that people often want better ways to express themselves when sending money, like adding accompanying text, emoticons, pictures and GIFs; of course Messenger is the best place to do many of these things, so we hope we’re bringing even more functionality to the art of conversation.

The peer-to-peer payments are expected to roll out to everyone in the UK and France over the coming weeks. With this feature, people will be able to send money to others in their country (from a person in the UK to another person in the UK, for example) but not across borders.

For further details on this new Facebook feature, check out:

https://newsroom.fb.com/news/2017/11/send-money-to-friends-in-messenger-now-in-euros-and-british-pounds/

The postings on this site are authored by Gaurav Mohindra, and do not represent the postings, strategies or opinions of my employer, or any other party.  References to other articles are linked to most posts, should any referenced article require a formal citation (Chicago Manual of Citation), please contact us.  All referenced trademarks are the property of those trademark owners.

News

Amazon to Start Selling Technology Products in Whole Foods at Black Friday Prices

Amazon.com Inc. is going to start selling technology products in Whole Foods locations at discounted prices.  The deals are not limited are to just Thanksgiving related food items but popular technology products.

Amazon announced that it will offer the discounted deals on some of its products for the entire week before Thanksgiving.  The discounted items will be available at more than 100 of its Whole Foods Market locations.

The discounted products include the following:

$10 off the Echo Dot

$20 off the newest Amazon Echo

$30 off the Echo Plus

$30 off Kindle Paperwhite

$20 off the new Amazon Cloud Cam

$20 off the Fire 7 tablet

$30 off the Fire HD 8 tablet

Further product details are available at www.amazon.com.

These technology products may not be what one normally expects to see at a Whole Foods, but shouldn’t be a surprise since Amazon’s recent acquisition of Whole Foods.  The brick and mortar retail channel will also allow customers to touch and feel these Amazon products before they make a purchase.  It would be helpful if these items could be demo’d too!

Amazon will also unveil “Amazon Pop-Up” stores at Whole Foods locations in Rochester Hills, Michigan, and Chicago on Nov. 13; in Davie, Florida and Pasadena, Calif., Nov. 14; and in Denver Nov. 15. The staffed pop-up shops at Whole Foods stores will allow grocery shoppers to play around with Amazon devices and get more information about services including Amazon Prime.  Keep an eye out for more “Amazon Pop-Up” stores in your area.

Amazon has not yet made Black Friday or Cyber Monday plans for its online retail business public. So it’s not clear if the deals offered at Whole Foods will also be offered online at Amazon.com.

For further details, check out: https://www.thestreet.com/story/14386421/1/amazon-to-sell-its-own-devices-in-whole-foods-stores-at-black-friday-prices.html

The postings on this site are authored by Gaurav Mohindra, and do not represent the postings, strategies or opinions of my employer, or any other party.  References to other articles are linked to most posts, should any referenced article require a formal citation (Chicago Manual of Citation), please contact us.  All referenced trademarks are the property of those trademark owners.

News

Apple News: Cable assemblies conveying high speed signals while providing reduced signal noise, radiation, and susceptibility to interference.

HDMI cables have quickly become the global standard for connecting high-def equipment audio/video equipment. HDMI is widely recognized as the best all-digital interface delivering both quality and ease of use. Most of the largest consumer electronics, PC and mobile device manufacturers incorporate HDMI connectivity into their products.

So, it should come as no surprise that a new Apple patent was recently published having the following title and abstract:

Ground bar for micro-coaxial wires in hdmi cables

Cable assemblies that may convey high speed signals while providing reduced signal noise, radiation, and susceptibility to interference. These and other examples may be readily manufactured. These and other examples may provide cables having a reduced thickness.

From the patent application, Apple provides the following example of what they’re seeking to capture: An illustrative embodiment of the present invention may provide cable assemblies having a reduced thickness by providing an internal strain relief for the cable. This may eliminate the need for a conventional strain relief that typically wraps around an outside jacket of a cable. These and other embodiments of the present invention may provide a cable having hollow tube in or near its center. The hollow tube may have one of a number of different cross-sections. For example, the hollow tube may have a star-shaped cross section, a circular cross-section, or other shaped cross-section. Stiffening rods may be inserted into the ends of hollow tube. The stiffening rods may prevent the cables from being bent at a localized point and may instead distribute the bend radius over the length of rod. In these and other embodiments of the present invention, the hollow tube and rod may be replaced by a plastic or nylon rod. In these and other embodiments of the present invention, these hollow tubes and rods may be in or near a center of the cable or elsewhere in or on the cable.

The patent application was published on August, 3, 2017 – and has the following publication number: US 2017/0221604 A1.

The postings on this site are authored by Gaurav Mohindra, and do not represent the postings, strategies or opinions of my employer, or any other party.  References to other articles are linked to most posts, should any referenced article require a formal citation (Chicago Manual of Citation), please contact us.  All referenced trademarks are the property of those trademark owners.

News

A?: Here’s A Solution For Fixing That Annoying iPhone Bug

Apple products are user friendly, include a great design, plug into the Apple ecosystem seamlessly, and provide an amazing user experience.

Apple’s new iOS 11.1 echoes all of Apple’s known attributes and overall, is a great update. It definitely makes iPhones more user friendly, and it actually frees up space on users’ devices.

However, there is an annoying glitch that’s plaguing many users.

Many users are reporting a strange symbol appearing when typing the letter “I” on their iPhones.

This glitch goes beyond just iPhones but also affects users who updated their iPad or iPod touch to iOS 11.1.  Users are finding that the letter “I” is autocorrecting (or being replaced) with the letter “A” with some kind of symbol next to it, either a “?” or barcodes.

Apple is aware of the bug and has provided guidance and some workarounds to solve the problem.

Apple provided a workaround when the bug first became an issue over the last week and seemed to resolve the issue for many users.  However it now seems as through users can update their devices to iOS 11.1.1 to fix the issue themselves.

The following steps walk you through correcting the glitch on your own:

  1. Connect your device into a power source, and make sure you’re connected to the Internet with Wi-Fi.
  2. Go into your Settings > General > Software Update.
  3. Select “Download and Install”. A message may pop up asking to temporarily remove apps because iOS needs more space for the update, tap Continue or Cancel. Later, iOS will reinstall apps that it removed.
  4. To update now, tap Install. Or you can tap Later and choose Install Tonight or Remind Me Later. If you tap Install Tonight, just plug your iOS device into power before you go to sleep. Your device will update automatically overnight.
  5. If you’re asked, enter your passcode – then type in your password and the update should conclude.

Apple has a great Support Page – which answers most questions, so check it out regularly for updates and tips!

The postings on this site are authored by Gaurav Mohindra, and do not represent the postings, strategies or opinions of my employer, or any other party.  References to other articles are linked to most posts, should any referenced article require a formal citation (Chicago Manual of Citation), please contact us.  All referenced trademarks are the property of those trademark owners.

News

Order Food with Facebook

Facebook is an easy way to connect with friends, communicate with people (messenger), and even sell products (Facebook Marketplace).  Now, Facebook is getting into food delivery!

From Facebook – Today, we’re taking the time out of finding what you want to eat by officially launching the ability to order food for pick-up or delivery, directly on Facebook. People already go to Facebook to figure out what to eat by reading about nearby restaurants, and seeing what their friends say about them. So, we’re making it even easier.

Facebook has combined options from existing food ordering services such as –  EatStreet, Delivery.com, DoorDash, ChowNow and Olo, and even restaurants like Jack in the Box, Five Guys, Papa John’s, and – out favorite – Panera.  As a result, users won’t  have to search multiple places to find what they’re looking for.

The new Facebook service will connect users with old favorites and new discoveries all within the Facebook platform. Users can even consider how their friends review a restaurant before ordering food.

From Facebook – You can browse restaurants nearby by visiting the Order Food section in the Explore menu. On this page, you can browse food options and select Start Order when you’ve found what you’re looking for. If the restaurant you want to order from offers takeout or delivery with multiple services, you can select which service you’d like to use. For example, if you have an account with Delivery.com, you can easily order with your existing login. If you don’t have an account with that service, you can quickly and easily sign up, without leaving the Facebook app.

Initially, Facebook users will be able to browse restaurants near them that take orders via Delivery.com, DoorDash, ChowNow, Zuppler, EatStreet, Slice, and Olo, as well as directly from restaurants including Papa John’s, Wingstop, Panera, Jack in the Box, TGI Friday’s, Denny’s, El Pollo Loco, Chipotle, Five Guys and Jimmy John’s.

For further information on this new FB feature is accessible at:

https://newsroom.fb.com/news/2017/10/order_food/

The postings on this site are authored by Gaurav Mohindra, and do not represent the postings, strategies or opinions of my employer, or any other party.  References to other articles are linked to most posts, should any referenced article require a formal citation (Chicago Manual of Citation), please contact us.  All referenced trademarks are the property of those trademark owners.

News

Some Considerations on Apple’s Tax Payments

Apple’s tax practices are back in the news.  A recent study from the International Consortium of Investigative Journalists says Apple found a new location to store its overseas cash to avoid paying higher taxes. The findings, part of a leak of documents called the “Paradise Papers,” state that Apple chose the tiny island of Jersey in the English Channel to store its over $250 billion in cash. The island charges no tax on companies’ profits, ICIJ reported.

Apple put out a press release to clarify it’s tax position.  Apple believes every company has a responsibility to pay its taxes, and as the largest taxpayer in the world, Apple pays every dollar it owes in every country around the world.

Apple also highlights certain inaccuracies in the reporting by the International Consortium of Investigative Journalists. Among the inaccuracies in these reports:

1) The changes Apple made to its corporate structure in 2015 were specially designed to preserve its tax payments to the United States, not to reduce its taxes anywhere else. No operations or investments were moved from Ireland.

Far from being “untouched by the United States,” Apple pays billions of dollars in taxes to the US at the statutory 35 percent rate on investment income from its overseas cash.

2) Apple’s effective tax rate on foreign earnings is 21 percent — a figure easily calculated from public filings. This rate has been consistent for many years.

Apple further included some additional facts regarding their tax exposure:

1) Apple is the largest taxpayer in the world, paying over $35 billion in corporate income taxes in the last three years.

2) Apple’s worldwide effective tax rate is 24.6 percent, higher than average for US multinationals.

3) The vast majority of the value in Apple products is created in the United States, where design, development, engineering work and more are accomplished. So under the current international tax system, the majority of Apple taxes are owed to the US.

4) Apple has cash overseas because that’s where it sells the majority of its products.

 

Further details on Apple’s tax position is accessible at:

https://www.apple.com/newsroom/2017/11/the-facts-about-apple-tax-payments/

The postings on this site are authored by Gaurav Mohindra, and do not represent the postings, strategies or opinions of my employer, or any other party.  References to other articles are linked to most posts, should any referenced article require a formal citation (Chicago Manual of Citation), please contact us.  All referenced trademarks are the property of those trademark owners.