Tag: IT

Invest in Finland

Finland is the next big thing in innovation and success stories, with many of them scripted to
perfection by Government agencies based here. These are the likes of Helsinki Business
Hub and TEKES bringing about a leading band of partnership along with PrEver.
PrEver has a long time tie-up with these agencies and can help businesses needing R&D and
growth solutions to set up their base in this Nordic country. It has helped funding and
nurturing various Startups and SMEs that have an innovative product or solution.
Finland is a land of innovation and is seen to have spawned a number of advancements in
technology. These include novel ideas such as harvesting electricity from wood pellets, which
is a great leap and reclusive to the conventional forms of generating electricity that are a bio-
hazard.
Also, the land is incumbent to a host of policies facilitating tolerance by the prevalent
Government. This ambiance created by the political establishment precludes any insurrection
of corruption or red tape too. Finland being the least corrupt country in the world, ranking in
the top four with Denmark, New Zealand and Sweden, makes investing here an added
advantage.

Be a part of the Finland exodus from India and register to a Gala event in Bengaluru with
keynote address, speeches by prominent people in the funding agencies and PrEver.

Different Types of Funding Optimization for Your Small Business

Introduction

A small business thrives on capital put into it by the founders. As each of them have some amount of remuneration paid to themselves, the business in this mode cannot deal with expansion.

These payroll distributions limit the company to a certain area of inception. It cannot move out of its present location and the founders have to deal with it until there is a considerable growth of the company- big enough to support their salary needs.

What are other modes of investment?

There are other diverse modes of investment for a small business. Let’s take a look at them:

  1. Friends and family This is the most popular mode of investment by start-ups. There can be considerable amount put forth by well wishers who have a common goal towards the success of the company. Even there is a better aspect in terms of interest paid to these kith and kin. They do not qualify for returning the amount with a specific interest annually. This consensus is not good for the intricacies of the bonhomie shared with them. The spat can turn ugly with them feeling cheated or the relationship can turn sour after not being paid their due for a long time. I know a person who bore the brunt of bitter relationships once his wife behaved rigid with his partner- the partner’s wife usurped the whole company and even runs it still. This is a drawback. But it is advisable to offer some interest to them that is competent in the market, just to keep peace.
  2. Angel investing This type of investment is quite popular as these investors engage with start-ups. Many people get benefited from these affluent individuals. But these people get a share in your business and the details of the investment should be checked carefully.

Conclusion There are quite a few benefits from various types of funding. But, the bigger picture is being buoyant in the industry with perseverance and dedication. A keen eye and professional guidance is the key to success. PrEver Consulting is doing a lot in these regard to equip start-ups through Helsinki Business Hub and strategies.

PrEver Consulting, along with Helsinki Business Hub and the Finnish Funding Agency for Innovation TEKES invite you to connect with the impressive R&D and product evolution opportunities Finland has to offer with a deep-dive into the Finnish innovation & support ecosystem.

For more information click on the link below:

Accelerate your business to a global success story from Finland

 

How to Bolster Your Business in the Competition Around

Introduction                                                                                                   

There is a cut-throat competition in businesses world round. While this keeps you on your toes to devise plans and helps a business to grow bountifully, developing in quality, there is a need to stay abreast of your rivals.

How can one accomplish this?

People survive in such competition around too. All that one needs to do is maintain their focus on the goal of being buoyant. Here are some points that your business can work on:

  1. Uniqueness Your business should capitalize on the uniqueness it offers. This helps so that you can devise patents and licenses on your intellectual property. A great benefit of this is that no rival can copy your assets like these. Otherwise, your uniqueness may be lost and they may replicate them.
  2. Reputation A company should build up its reputation among customer circles by adhering to quality. The services such as call centres to handle customers’ queries should be professional and elitist. Employees handling such tasks should be fluent in English or other vernacular languages the customers demand. Any request of the customers should be handled without turning them down. Emails too should be attended within a few hours delay. This way a business can flourish.
  3. Research your field Set apart a time to research your market and rivals. Pricing should be at par with them. Also keep finding information about what they are up to. New features they bring about in their products should be brought in your products too.
  4. Philanthropy works Set apart some of your accrued revenue in such works. This develops an image in your customer base and the needy get benefited too.

Conclusion Businesses that are constantly changing with the market and adopting new trends get buoyed here. Many great businesses are made of this mettle.

Bad Habits Sales People Should Avoid

datacom-connect-presents-andy-paul-going-bald-simple-sales-habits-that-amp-up-your-sales-11-638Introduction

Sales is a dynamic world wherein it calls for enthusiasm in the concerned person’s life. They should be good at social responsiveness and get along with people. However good they may be at their profession, some sales people have bad habits too.

What are the bad habits?

Let’s look at the bad habits that sales people are susceptible to:

  1. Quoting unearthly prices A sales person should always be conscious of the price he quotes for a product. He should never disclose it when the prospective customer is unconvinced of the quality features of his product. An unreasonable price can put a lead off from buying your product. More so, a product that has less privileged features can be approached to the prospective customer with a wholly different tactic- its price can be revealed.
  2. Cold calling Avoid calling your prospect repeatedly with the same tone or proposal. It may not work out as the person at the other end has the same product with him or is uninterested in buying it for a host of reasons.
  3. Right moment Do not call the prospect during irritable or inconvenient moments. This could be driving during rush hour or such, end of the month, running errands for their family. The best time could be asked from themselves. Preferences should be respected.
  4. Waiting fingers crossed The world has a factor called inertia. So, whenever someone sets out to do the thing he wishes, he does it unless an effort is put into it. Waiting for the deal to be closed or finalized is not always wise. Just begin putting in your efforts and follow up. Persistence works.

Conclusion It would be wise if sales people take heed of these undermining habits and incorporate an accommodating strategy in their work. This works!

Marketing Challenges Ailing Startups in India

Introduction

Startups have huge pitfalls in coming up with a good marketing strategy. However creative an entrepreneur may be, he has to firmly plant his feet on the ground looking for exciting challenges.

What are these challenges? 

Vector Business Competition Concept In Flat Style

Let us look at some of these:

  1. Non-specific content The content used in the marketing endeavour should be aimed at a targeted audience that is responsive. When this is overlooked and the content goes haywire, it needs to be brought on track. This is the problem with start-ups wherein the writeup doesn’t match to a specific audience. For example, a renewable energy brand that is aiming at a state with surplus energy such as Punjab –not frequented by power cuts– can be categorized as a failed marketing strategy. This is because the chances of lead conversions aren’t the most. If a marketing strategy is general or not accommodating people from different age groups or communities or inclinations as such, can experience a downturn in conversions.
  2. Having your way There should not be a headstrong attitude towards planning a strategy. A plan that is not strongly based upon analytics and is just on an opinion does not bode well for a business. Everything should be tested and implemented. There may be an innovative business idea on your mind, but it deserves to be put through trial and purged.
  3. Emphasizing sales Investing more and more on sales is a very big impediment facing start-ups. Marketing should take precedence and not a backseat. This should be borne in mind and focus can be on quality content too.

Conclusion A business that has a keen inclination to change and incorporates all the possible measures to emerge as being buoyed is worthy to become successful. There are great benefits of being watchful.

Startup Growth in India: The Potential

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Introduction

The Startups have a great potential in India, as a report by Nasscom-Zinnov states. It observes that India is the third largest startup contributor in the world- second only to the United States and United Kingdom. There could be a growth 2.2 times by 2020, which amounts to 10,500 new ones.

What are the ground results?

The Indian Startup ecosystem has a lot of rag-to-riches stories. Let’s look at one of these inspiring tales when it comes to software businesses:

Sridhar Vembu, the CEO of Zoho Corp. had a humble beginning in a middle class family, where his father worked as a stenographer in the High Court. His parents never went to college, but he understood the importance of education at this young age and did well at school. Then he enrolled in a Bachelor’s degree program specializing in Electrical Engineering at IIT, Madras. Later he obtained a PhD from Princeton.

Soon, he set up a business catering to the network equipment vendors. And then, he metamorphosed his company into an online applications provider.

His company never entertains capital from shareholders and successfully competes with Microsoft, Google and Salesforce.com. It is valued at $1 billion. There is an awe inspiring aura behind it as it competes with such computing and network giants.

How is the Government encouraging these Startups?

The government under the aegis of Prime Minister Narendra Modi has been greatly assisting the business of Startups through a lot of policies and frameworks. Here are listed a few of them:

  • Self-certification compliance regime Instead of the certification being cumbersome for Startups and making them run pillar to post to get this work done, this regulatory burden has become cost-effective. The companies have to be self-certified with 9 environment and labour laws. Nothing more.
  • Setting up of Startup India Hub This stakeholder in the thriving ecosystem of Startups will be collaborating with Central and State Governments, Indian and foreign VCs, angel networks, banks, incubators, legal partners, consultants, universities and R&D institutions. It will assist the Startups in financing, feasibility testing, market skills and will also mentor them with technical resources. It is tied up with educational institutions and R&D centres- be it government ones or private organizations. Startups will be effectively and thoroughly nourished and nurtured by this assistance of the Startup India Hub. This is a great sign by the government to herald a change in these budding businesses’ ecosystem.
  • Seamless and easy registration of a firm With the setting up of a mobile portal and an app, the registration of a firm will be made simple by just filling out an easy form downloaded from the app. The registration application can be tracked for progress and the final digital version of it downloaded from the app.
  • Fast patent examination This is done by Controller General of Patents Designs and Trademarks (CGPDTM) with lower costs than before and the government bears the facilitation costs.

Conclusion The Startup ambience being enriched by skilled talent pool and eased government regulations, the way these companies can go is only skyward. A conducive atmosphere like this one can bolster a business thoroughly with such added impetus.

Can India create the next Google or Apple?

Can we create the next Google, Apple, Uber, Air bnb, Alibaba, Amazon or valuable product companies like SAP, Oracle etc.?

The answer is NO. Not by the way we are thinking today!5_hpheader_home-page-slider

From the turn of the millennium we have been very successful in exporting IT services across the globe and that mindset has kept us in a comfort zone for quite some time. We have created great companies in IT services companies from the nineties. Most Indian entrepreneurs today come out from these large companies who have been used to the easy way of leveraging on foreign billing, hence taking advantage of the sliding rupee.

Today we do have Start Ups, incubation and accelerator programs for college graduates and folks willing to be entrepreneurs, but we either create an app, e-commerce platform, market place or a solution for an industry that caters mainly to the local market only. Only a few entrepreneurs are creating the next big wave in information technology or any Sciences.

For sure the local market is huge. That’s a no brainer. Even Jeff Bezos, Amazon Founder plugged and played India. But, the need of the hour is to create something that is not just good for the promising local market, but also for the whole globe. Internet penetration across the globe is increasing in leaps and bounds.

There could be several reasons to this. One could be that follow the cash creating leaders like Flipkart, Red bus etc. These companies are promisingly catering to the local market. There could be several reasons why they chose to remain within India.  The con or buck is just passing hands and nor real revenues are visible to the discerning.

The other reason could be the existing venture capitalist and investor community within India. Based on casual interactions with few top partners from the community, it is very clear that they are investing a lot in companies and ideas that can penetrate the local market. Many a times, they are talking registrations and sales from Tier 1 and Tier 2 cities of India. Could this make the Indian Entrepreneur from restricting himself? Many great global ideas get shot down in the process. It seems as though the investor community has a mandate or there could be some global political agenda behind this, as majority of the investment for these activities comes from abroad which is beyond the entrepreneur’s understanding. Moreover, the investment groups have got a taste of the quick valuation game and ROI by investing in companies that have penetrated the Indian market. They are taking the easier route out.

During my consulting with good Indian companies with promising products, I always used to tell them, that creating a product only for the local market is a “crime”. With internet penetration and connectivity growing across the globe including remote parts of Africa, it actually seems like a crime creating a product and solution only for the local market. Yes, of course you have to start local, but the ultimate goal must be to “Go Global.”

Consulting across the globe, it is very clear that governments of several G20 nations and developed nations are encouraging their entrepreneurs to come up with big technological ideas for the global market. It is also evident that they have created eco-systems where funding for product development and other activities for global reach are available. This is not yet available in India in a structured manner. Time for a change in mindset!

Hopefully the answer to my question mentioned above will become a firm “Yes” in the near future and this can happen only if you and I together decide to genuinely “Go Global.”

All the best Indian Entrepreneurs!

 

Importance of Digital Marketing for Small Businesses

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Digital Marketing is slowly casting a shadow on its analog counterparts. From the last decade or so,with the emergence of social media and growing use of smartphones, the latter one’s meaning has lost in this new world.

 What is its relevance in the marketing world?

The smartphone market has grown in leaps and bounds in India. From an era, wherein the usage of smart phones was limited because of expensive tariffs, this trend slowly changed over a period. Globally it was a rapid evolution over the past decade or so and smart phones gave you the power of internet at your fingertips 24/7, 365 days. This has been a totally disruptive game changer be it social behavioral disruption or ‘how you do commerce’ disruption.

India has grown into a behemoth when it comes to the number of users for devices such as smart phones. This could be ascertained from the fact that there are over 500 million + users for these devices in this country.

 What are the benefits of this type of marketing?

There are many distinct benefits of digital marketing for small businesses.

Level playing field :the digital marketing platform ensures a level playing field for such businesses when compared to their rivals and large enterprises. This is because there can be analytics provided to judge for the small businesses themselves to stay in the cut-throat competition around. Previously this was limited only to large enterprises.

Cost-effective:this format is very cost effective when pitted against the traditional marketing. A large part of this is because it negates the use of advertisements in newspapers, books, telecommunication, television and radio broadcasts.

 Digital marketing is a boon for businesses that have understandably less capitalization and resources. This type of marketing is to stay for a long time as people have a penchant to use the internet for their daily needs and entertainment on their handset; what with smartphones becoming your primary and lasting companion forever.

Finland: Land of Innovation and Collaboration

istock_000011790889mediumFinland has the best ambiance for setting up a software business. This is possible because of the conducive atmosphere created by this country’s different government agencies. There are a lot of companies that have set up their research and development wings in Finland.

Such companies have greatly benefited from the highly divergent business atmosphere. There are a lot of verdant parks and lung space to be rejuvenated after working considerable hours.

The talent pool of engineers is also an asset for Finland. It has a technical talent pool of 116,000 skilled people. This is the same thing echoing from Timo Jokiaho, the ex-Vice President of the Finnish R&D Center, Huawei, when he says, “It is easier to find top class engineers in Finland than in many other countries today. We’re also very happy with the smooth cooperation with research institutes in Finland.”

There are varied reasons for this pleasant reaction from the management heads of acclaimed companies like Huawei. Government agencies like Helsinki Business Hub do a lot for the software companies the world over who want to enter the software business in Helsinki. They provide funding for them and create a healthy atmosphere among the players.

It has helped Helsinki to retain the number one spot in property rights, intellectual property protection, venture capital availability, patent specialization in software, internet penetration and considerable helping in the least number of documents to be furnished to register a firm. Such conducive environment among the players is always a good sign to invest and reap manifold.

The IT population in Helsinki has 53% of Master’s degree and 23% of them have a Bachelor’s degree. Finland has the third lowest labour costs of IT talent in Europe.

The preferred language being dominantly English, there cannot be difficulties for outsiders. The reason being that whenever the natives are asked questions in a broken Finnish accent, the response registered is in English.

This is greatly efficient for companies who like to accommodate, relocate or shift their talent base to the Helsinki region. The employees can have a blissful experience when greeted with a verdant atmosphere all round. There are a lot of exquisitely planned urban spaces which include a conveniently compact City-Center.

This sprawling City-Center can help make a walk to any utility buildings, parks, banks, schools and other everyday destinations easy. In the next 20 years, there can be 80,000 new resident walkers in Helsinki.

This makes Finland one of the most sought-after destinations in Europe for world-class engineers because of the innovative and collaborative atmosphere all round. This quality of Finland has put PrEver Consulting firm on its toes to bring quality service to this region and helping software companies to make use of the ample resources offered here.