Posted by Managementguru in Entrepreneurship, Financial Management, Marketing
on Oct 17th, 2016 | 0 comments
20 Main Reasons for Startup Failure Entrepreneurs start a business with the single goal of achieving success. But we also see them fail miserably. 80% of startup companies witness closure since three years of commencement says a statistics. So, what should entrepreneurs do to be in that 20% population range of successful people? One good way to start is to learn from the mistakes committed by other startup companies. Research Giant CB insights has analyzed 101 failed startup companies and found out 20 important reasons categorically. CB insights is a company that focuses on business, investment and investment strategies. Also they supply valid information on startups and their founders, venture capital and Angel investment. These are the 20 main reasons for startup failures: No Market Need – 42% Ran Out Of Cash – 29% Not the Right Team – 23% Get Out-competed – 19% Pricing/Cost Issues – 18% Poor Product – 17% Need/Lack Business Model – 17% Poor Marketing – 14% Ignore Customers – 14% Product Mis-Timed – 13% Loose Focus – 13% Disharmony on Team/Investors – 13% Pivot Gone Bad – 10% Lack Passion – 9% Bad Location – 9% Not Financing/Investor Interest – 8% Legal Challenges – 8% Don’t Use Network/Advisors – 8% Burn Out – 8% Failure to Pivot – 7% SIDBI, a government based financial organization caters to the financial requirements of small and medium enterprises. It plays a crucial role in the growth of SME’s. Startup India and Standup India are the two movements initiated by the central government to enhance the spirit of entrepreneurs. Now, SIDBI has also started SIDBI Startup Mitra to associate startup companies with incubators and investors. It is quite difficult for the startup companies to get guidance and funding. These two factors are very vital for the growth of a startup firm. Various investment agencies, angel investors and incubators have associated themselves with Startup Mitra which in turn facilitate the tie-up. SIDBI startup Mitra also paves way for startup firms to reap the benefits of government plans. The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents, partnerships and news media. India’s top 10 funded startups of 2016 Ibibo Group : $ 250M Investors : Naspers Industry : Online Travel Company Snapdeal : $ 200M Investors : Ontario Teachers Pension Plan, Iron Pillar, Brother Fortune Apparel Industry : online marketplace BigBasket : $ 150M Investors : Abraaj Group, Sands Capital Management, IFC, Helion VC, BVP, Ascent Capital Industry : Online Grocery Shopping and Online Supermarket CarTrade : $ 145M Investors : Temasek, Warburg Pincus, Marche Capital Industry : online auto classifieds platform Byju’s Classes : $ 75M Investors : Sequoia, Sofina Industry Byju’s mobile app has video lessons for IAS, CAT, GMAT, GRE, IIT-JEE & Class 6-12 and comprehensive study material Lenskart : $ 60M Investors : IFC, Ratan Tata, Kris Gopalakrisnan, IDG, Adveq Management, TPG Growth. Industry : Shop online for Sunglasses, Eyeglasses and Contact Lenses for men & women Mobikwik : $ 50M Investors : GMO Payment Gateway, MediaTek, Sequoi, Tree Line Asia Industry : Online Recharge, Mobile Recharge & Bill Payments Lendingkart : $ 32M Investors : Bertelsmann India, Saama Capital, India Quotient, Darrin Capital, Mayfield India Industry : SME-lending firm, Short-term loans for Small Businesses Nestaway : $ 30M Investors : Tiger Global, IDG Ventures Industry : Marketplace for shared home, apartments, flats rentals Droom : $ 29.8M Investors : Lightbox, Beenext, Beenos, Digital Garage (Japan) Industry : online marketplace to buy & sell used cars, bikes, scooters, bicycles, aero planes. ...
Posted by Managementguru in Business Management, Human Resource, Leadership
on May 18th, 2016 | 0 comments
Managing people require a completely different skill set than managing tasks. The transition from being an individual contributor to someone responsible for the work of others and team performance results in a steep learning curve. Learn how to motivate, delegate, communicate and lead. Play to your strengths and improve on key weakness areas. With an emphasis on building high achieving teams, dealing with an increased workload and developing the influence, assertiveness and confidence necessary to be an effective manager or supervisor – this course will ensure you hit the ground running.
Posted by Managementguru in Leadership
on Mar 25th, 2016 | 0 comments
Some are born leaders; some become leaders due to chance or situation- either way leaders have these peculiar qualities you would not see in a normal individual. Peter Drucker famously stated that when “management is doing things right, leadership is doing the right things.” Great leaders possess incredible social intelligence, a passion for change, and above all, vision that allows them to set their sights on the “things” that truly merit attention.
Posted by Managementguru in Financial Accounting, Financial Management, Startups
on Jan 22nd, 2016 | 0 comments
The Key Functions of A Finance Manager Finance manager is one of the important role-players in the domain of finance function. He must have a complete know-how on the areas of #accounting, finance, economics and #management. His position calls for judicious capability and analytical approach to solve various problems related to finance. A person who deals with finance related activities may be called finance manager. “Focus on a few key objectives … I only have three things to do. I have to choose the right people, allocate the right number of dollars, and transmit ideas from one division to another with the speed of light. So I’m really in the business of being the gatekeeper and the transmitter of ideas.” – Jack Welch Finance manager performs the following major functions: Forecasting Financial Requirements It is the principal function of the Finance Manager where he is required to estimate the financial obligations of the business concern. He should evaluate how much finances are required to procure fixed assets and forecast the amount needed to meet the working capital requirements in future. Learn MBA-Level Finance and Make an Extra $10,000 a Year Learn All the Finance You Need to Succeed in your MBA (or, just take this course and skip the MBA altogether)! 10 Ways to Become Financially Stable Acquiring Necessary Capital The next step of a finance manager is to focus on how the finance is deployed and where it will be available. The Beginner’s Guide to Budgeting Investment Decision Best investment alternatives have to be considered to assure reasonable and stable return from the investment. He must be competent in the field of capital budgeting techniques to govern the effective utilization of investment. The finance manager must attach more importance to the principles of safety, liquidity and profitability while investing capital. 9 Personal Finance Milestones Everyone Should Reach Before 30 Cash Management Cash management plays a major role in the area of finance because proper cash management also helps to meet the short-term liquidity position of the concern. 10 Steps to Financial Freedom – A Course in Personal Finance Get a clear, complete guide to debt pay, retirement, and investment complete with editable excel sheets for your plan. 5 Ways to Combine Finances with Your Spouse Interrelation with Other Departments Finance manager handles various functional departments such as marketing, production, personnel, system, research, development, etc. He must maintain a good rapport with all the functional departments of the business organization. “Rule No. 1 : Never lose money. Rule No. 2 : Never forget Rule No. 1.” ― Warren Buffett Follow ManagementGuru Net’s board FINANCIAL MANAGEMENT on...
Posted by Managementguru in How To, Marketing, Social Media, Startups, Strategy
on Dec 16th, 2015 | 0 comments
Email Marketing Techniques Email marketing has become one of the powerful sources of product promotion eventually generating more leads. Targeted emails can do wonders with regard to such lead generation and conversion. This article from Aweber precisely pin points the 200% user engagement that email marketing creates and the benefits that come along with it. The more the subscribers, the more the reach; its as simple as that. Bloggers, Product Promoters, Service Providers, Educational Institutions, Matrimonial sites and many more businesses along the vertical are beneficiaries of email promotions who are happily reaping the rewards. “How to go about it”, is the crucial question lingering in the minds of digital marketers and this session will definitely be helpful in finding the way out to increase sales conversions. Visit businessguru.aweber.com to grow your sales through email marketing. Let Your Subject Line be Catchy: Subject lines are crucial because they are the very first thing people see in their inbox. If it doesn’t intrigue them, it could also be the last thing they see of that email. Stat: “64% of people say they open an email because of the subject line.” More people open and engage with the newsletter when they know what would be covered. The insight provided by the title allow people to determine if it would be worth reading. When people knew ahead of time that they would be interested in what the email had to say, they engaged more with the content as well. Stat: “Personalized subject lines are 22.2% more likely to be opened.” The more direct subject lines were the clear winners. Though the creative subjects could be intriguing in the inbox, if people weren’t sure what they were going to gain from opening it, they were less likely to do so. Stat: “Subject lines fewer than 10 characters long had an open rate of 58%.” Some variables to consider: Length (does shorter or longer work better for your audience?) Personalization (including their name or other details in the title?) Use of Numbers (are they better spelled out or as numerals?) Question Marks and other icons (Eye catching or annoying?) Humor (Do people respond well to jokes or do they prefer a straightforward approach?) Scarcity tactics (Do people act on urgency?) As always, even if you think you know what your subscribers like best – it’s worth the test. For B2B companies, subject lines that contained “money,” “revenue,” and “profit” performed the best. What to avoid: In short, the spam filter. A few things to steer clear of: CAPS LOCK IN YOUR SUBJECT LINE Lots of punctuation!!!!!! Spammy words such as free, winner, or profits Any combination of these things Though these tactics might catch someone’s eye in their inbox, if they’re coupled with other spam concerns, they’ll be caught in the spam filter first. Stat: “7 in 10 people say they made use of a coupon or discount from a marketing email in the prior week.” What to do instead: Convince your reader, through the subject line, that your content is worth their time and won’t take up too much of it. According to Copyblogger, there are a few key things that accomplish this: “How to” headlines Headlines with numbers, indicating a list Simple, direct statements Headlines that sound like news, not an ad The use of “you” Stat: “72% of B2B buyers are most likely to share useful content via email.” Some Very Interesting Facts: Emails that include social sharing buttons have a 158% higher clickthrough rate. Women click 10% more often than men on mobile emails. Monday emails had the highest revenue per email. Email marketing spend grows 10% year over year. 40% of...