Monthly Archives: January 2012
Strategies for success – Richard Branson
On Taking Risks
A Search-Engine Startup Story
There are about 90 million frequent fliers in the U.S. alone, and they all face the same problem: difficultly using their airline and hotel rewards points. It’s time-consuming and requires multiple online searches and phone calls. People get very frustrated with the complex regulations and different options to figure out the actual price of a flight. It’s often confusing as to whether it’s a better value to pay with cash or rewards. MileWise solves this problem.
In one search request, we show all the ways to pay for a flight: cash, miles and points. MileWise converts all of these ways to pay into a dollar-equivalent value, making them easy to compare. And our ranking algorithm includes rewards earned–we focus on value, not just price. We’re the only flight search engine that recommends the best way to pay based on each user’s travel and redemption preferences, and displays the rewards earned per flight, including status and cabin bonuses.
We received investment interest while still in the concept stage; however, we decided that a fleshed-out prototype and business model would be optimal before engaging in a focused fundraising effort.
We have several revenue streams. Along with a commissions-based model, advertising is extremely context-sensitive. We also intend to make money from credit card sign-ups and from the aggregated data and analytics insight we offer to our partners.
We’ve added flexible-date searches and will add a feature that will recommend and alert users when they’re eligible for award trips. We will soon automatically integrate deals and promotions, like mileage bonuses, into the site, and we plan to support many more airline and credit card programs. In parallel, we plan to offer search and recommendations for hotels and cars. Mobile is also an extremely important part of our strategy, and we’re planning on releasing iPhone, iPad and Android apps.
Porter’s 5 forces analysis – Global Telecom Industry
How to Invest in Share Market?
- Subscribe to a dealer or securities investment firm with ties to the Indian stock market. The determining factor in the recruitment of financial markets is an experience in which you invest your money. Brokers can be expensive, but tend to respond quickly to questions about individual actions.
- When a person want to buy/sell shares in the share market then he has to first place the order with a broker or can do himself using online trading systems .When you buy a share, the message is transferred to the exchange [either NSE or BSE ] and the order stays in the queue of exchange’s other orders and gets executed if the price of that share comes to that value. Once you get the confirmation of this transaction, the shares purchased, will be sent to your demat account. The shares will be stored in demat account in electronic format.
- Demat (short form of Dematerialization) is the process by which an investor can get shares (also called as physical certificates) converted into electronic form maintained in an account with the Depository Participant (DP).
- DP could be organizations involved in the business of providing financial services like banks, brokers, financial institutions etc. DP’s are like agents of Depository.
- Depository is an organization responsible to maintain investor’s securities (securities can be shares or any other form of investments) in the electronic form. In India there are two such organizations called NSDL (National Securities Depository Ltd.) and CDSL (Central Depository Services India Ltd.)
- Investor’s wishing to open Demat account has to go DP and open the account.
- Opening the Demat account is as simple as opening the saving bank account with any bank.
- As you need bank account to save money, deposit cheques etc, likewise you need to have a demat account to buy and sell stocks in share market and to hold the shares.
Businesses with less investment
Cakes and cupcakes are the highlight of any party, and reality foodie shows such as Cupcake Wars have made baking a popular new business idea. Brooklyn blogger and cupcake expert Nichelle Stephens says you can start a cupcake business for $500 or less, as long as you aren’t trying to open a storefront. “You spend more time than money when starting a baking business,” says Stephens, who shares baking and business tips on her blog. “You need to find a neighborhood where there is a limited number of baked goods available and identify your niche.” Once you get your mixer, the next expense is quality baking pans and cooling racks. Use your co-workers as your test market and promote your business in the groups you belong to, especially if you have children. Other parents are a great potential customer base. Keep in mind it’s illegal in most jurisdictions to bake and sell food from your home. Here’s a website where you can research commercial kitchens in your area.
Despite technological advances, documents such as property deeds, wills and loan papers still require an official signature and stamp by a notary. Some banks and real estate agents have a notary license, but the current trend is using notaries who come to your home or business on call. Setting up this kind of business has strict rules: Most states require you to take a course to learn the notary business and pass an exam, and all require a state license. Check with your state for regulations and costs, and visit the National Notary Association for materials and more information. It’s important to put out the word to friends, family and co-workers about your new notary business. Set up a professional website with search engine optimization so that your business can be found locally. “Pick a niche,” says Dany Victory, owner of mobilenotarypublic.com in Southern California. “I specialize in loan documents, and it’s helped me earn referral customers such as realtors and title companies.” As a mobile notary, your costs are low and there are fringe benefits: You can drive around, meet interesting people and charge a premium for providing door-to-door service. “My income is higher because I charge travel fees on top of the standard notary charge of $10 per signature,” says Victory.
Many people’s New Year’s resolution is to lose weight, and many of these same individuals are looking for professional help to shed those unwanted pounds. If you are a fitness buff or avid runner, you may be able to make a living by teaching others what you’ve learned. You can be a general fitness instructor or specialize in marathon prep, yoga or Zumba. The first step in launching a fitness business is to become certified as a personal trainer. You also may need some basic equipment such as a portable CD player, exercise ball, stair step and mats. To launch your training business, start by telling your own weight loss story. Don’t be afraid to share your before and after pictures on your website and Facebook page. To find clients, try to build relationships at the gym you already attend. Inquire about becoming a trainer on staff to learn the business. Reach out to friends and colleagues who either don’t have time to go to a gym or feel embarrassed in a room full of people running on treadmills. Fitness enthusiast John Leber of Paramus, N.J., became a trainer in retirement. Leber studied, took a workshop and an exam, and within months got his personal trainer certification from the National Academy of Sports Medicine (NASM). “I worked for a large fitness chain gym for 18 months, and it was like your first job out of college, but after I left that company, my old clients started calling me for services,” says Leber, who is 63.” He specializes in working with clients 50+ and with people recovering from injuries. Here’s more on how to become a personal trainer.
Clutter is stressful for everyone, and you can make a living helping people get their homes, offices and lives in order. Professional organizing is a perfect business for people with a knack for neatness and developing systems. You can charge hourly or set half-day and full-day flat rates for your time. Not all clutter is the same, so it’s a good idea to choose an area of specialization, such as cleaning out garages, helping people plan for moving or downsizing, or assisting professional women with busy lives. Devise a system for how you will approach new client projects. Some organizers interview prospects; others ask for a tour of the space that needs organizing; some just throw everything on the floor and start from there. Philadelphia-based professional organizer Debbie Lillard, author of Absolutely Organized, wanted to work part time after years as a stay-at-home mom. She launched her business by contacting old friends who were stressed by the disorganization in their lives. She created business cards and flyers and distributed them in grocery stores in affluent neighborhoods. “I wrote a sales letter explaining who might need an organizer and sent it to everyone I knew, which landed me my first clients; from there, it was all word-of-mouth referrals,” Lillard says. Within a few months, she also launched a do-it-yourself website. Lillard went on to write two books about getting organized and shared organizational tips during media appearances, which helped her business grow. Collecting before and after pictures and client testimonials are good ways to promote a business as a professional organizer. For people interested in this business, consider joining the National Association of Professional Organizers, which provides education and training for new business owners in the field.
The social media world is growing, and most business owners don’t have time to keep up. You can create a business as a social media marketing assistant or strategist if you have strong writing skills and a working knowledge of the major social media networking sites. Copy editing skills also are in demand for customers with blogs. Prior experience in public relations and marketing can also set you apart from those who just know social media tools. This business involves helping clients develop a social media strategy, build blogs, and set up Facebook Fan Pages, Twitter accounts, LinkedIn profiles and Google+ accounts. lf you know how to set up and maintain WordPress websites (they’re free), you can specialize in that service and charge a higher hourly rate. Cathy Larkin of Web Savvy PR in Aston, Pa., shows her small-business clients how to make social media marketing less intimidating. She provides strategies and shortcuts to keep her clients up to date online. “The first thing I did was learn the tools; then I picked a niche for the kind of customers I wanted,” Larkin says, “Be willing to work for free at first, just to prove you know what you are doing and get some references.” A low-cost way to quickly sharpen your social media skills is to attend a social media conference such as a PodCamp, which are held all over the country. The key to being successful as a social media marketing assistant is keeping your skills updated and making sure you stay on top of the constantly changing features on the social networking sites.
People like handmade, one-of-a-kind jewelry, and this hobby is a good choice for a home-based business. Settle on your signature style or specialty — whether you’ll create pieces with bead design or design molds for silver and goldsmithing or stainless-steel items. Then you need to name your business, create samples, produce high-quality photos and start developing marketing materials. Patricia Miller, owner of the Velvet Box in Flint, Mich., got hooked on the craft while helping a friend with her holiday jewelry orders. Miller launched her own business with small orders for bracelets, and then she began doing home shows. Later she created an online shop at Etsy.com, which makes it simple for crafters to display and sell handmade goods. “Ninety-eight percent of my business has come from repeat customers and word-of-mouth referrals,” says Miller. Jewelry sellers also should look into setting up booths at craft fairs, flea markets and community events. Try partnering with local art galleries, hospitals and boutiques to sell higher-end pieces in your catalog. Don’t forget to wear your own jewelry everywhere you go — you are your best advertisement.
Are you the person everyone stops and says, “Wow, you look great! Can you go shopping with me?” You are not just a trendsetter; you also may have the skills to be an image consultant or visual branding specialist. “Both women and men need to present their very best to the world. I help people reinvent and update their look,” says Tracey Reed, who runs a Philadelphia image consulting firm, Tracey Evelyn Beautiful You. “I do everything from color analysis to make-up lessons and personal shopping.” If you want to start a business as an image consultant, you need to have an understanding of color basics, textiles and clothing silhouettes. Reed, who has a master’s degree in theater make-up and costume design, suggests taking courses in color theory and retail merchandising to sharpen your skills. She started out in the beauty business as a licensed aesthetician and later expanded her services to include wardrobe and image consulting. Potential clients include professional women too busy to shop, brides-to-be who want makeovers, and men who want to sharpen their images to get ahead at work. Having a personal network is key to building your initial clientele. Set up a blog to share style tips, and then use Facebook and other social media to attract new customers. You also can use your website to post special packages, share testimonials and feature before and after photos of clients. It could be your best sales tool.
Share Market Basics – Part II
Financial Planning •
Here are three basic questions that you will answer during financial planning:
* Where are you today? What is your current financial situation?
* Will you be able to get there? How do you plan to achieve your vision?
* Where do you want to get to? What is your vision of your future financial situation?
During the financial planning process you analyze what is your financial needs and goals are. In other words, financial planning is the process of meeting your life goals through proper management of your finances. Life goals can include buying a home, saving for your children’s education or planning for your retirement. It is a process that consists of specific steps that help you to take a big-picture look at where you are financially. Using these steps you can work out where you are now, what you may need in the future and what you must do to reach your goals. We can make a much larger contribution in every area of our life when our personal finances, investments and taxation are properly planned up.
Financial planning is simple mathematics. There are 3 major components :
* Financial Resources (FR)
* Financial Tools (FT)
* Financial Goals (FG)
When you want to maximize your existing financial resources by using various financial tools to achieve your financial goal, is financial planning.
The Financial Planning process aims to establish a comprehensive plan to meet the client’s objectives. These steps are:
o Gathering data
o Establishing the client’s objectives, goals and aims
o Recommending a plan of action
o Processing and analyzing information
o Implementing the plan when agreed and also reviewing the plan regularly
Financial plans must be dynamic to reflect the changing socio-economic environment, as well as the stage of life that you are in. Yet, very few of us bother to review our financial situation as we move from one stage of life to another. A financial planner, is someone who uses the financial planning process to help you figure out how to meet your life goals. The planner can take a `big picture` view of your financial situation and make financial planning recommendations that are right for you. The planner can look at all of your needs including budgeting and saving, taxes, investments, insurance and retirement planning. he best time to review your financial situation is today! And you must do this as regularly as you can because your life is never static.
Unless you start early, you might find that time has passed you by. You will get older, your children will have growing needs, your expenses will rise…..and, before you know it, you may be regretting but not planning the future. So go ahead, and plan your future now.
Volatility in Share Market •
Securities •
Risk Management •
Real Estate •
Principal •
Portfolio •
Open-End Fund •
Maturity •
Share Market Basics – Part I
Differences between stocks and mutual funds