Tag: New Products

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.

New Age Sales Strategies in the Digital Savvy World

Introduction

Sales strategies are greatly essential for a successful campaign of a product. In this digital age, the strategies are increasingly diversified. The technological aspect of this endeavour has made it possible. The continued involvement of gadgets such as smartphone, television, PCs, laptops, tablets in sales strategies are making campaigns less monetary, but effective.

Though the times are changing everywhere, there are certain timeless strategies still ruling the roost.

What can they be?

This can be understood from the common man’s perspective: As I was buying some groceries at a nearby shop, the grocer was selling his products rather briskly than the nearby one. After closely observing, I found out that the former was trying to retain his acquired customers by a lot of innovative strategies.

One of these was to build a relationship with them by striking a conversation on their daily happenings; about their health; family member’s well-being and more.

Contrastingly, the other shop-keeper was mum about these things and just kept on asking the prospective customer to enter his shop and get what he wanted. All of the customers though met this shop-keeper first, just passed by to the next shop. Being friendly can help retain a lot of customers than just asking them to shop in your enterprise, resulting in a cold shoulder response.

What more can be done to retain customers?

In this digital age, striving to retain customers is all the more essential, just as in the traditional age. The new age sales strategies demand a few things from the seller. Here, a few of them are discussed:

  • Getting in touch If you sold a software product to a firm or an individual, it is good to ask for a feedback of theirs. This can be done by asking their email and sending a list of recommendations that are similar to the products they bought. In order to avoid a cold response from them, make sure to drop a link below the message, as to how they can opt out of the mail list- if caused inconvenience. Because promotional communication is always despised as pesky individual or companies resort to this. Irritated customers could search for new avenues to escape such rude methods.
  • Ask for a survey After the customer buys a product, ask him to reply to a survey in a friendly manner through mails. This should not be done with coercion. The survey should be completed in 2 or 3 steps which are preferably automated.

What are other strategies?

There are a few more strategies that can be discussed:

  • Problems can always be fixed Whenever a customer or a client speaks rudely about his recent nagging problem or a forgettable experience –if at all there is one—make sure to convey him that the problem in consideration cannot be solved by your help services. Then, it can be wise to end the conversation, amicably.
  • Innovation Come up with new products constantly to increase sales to existing or new customer bases.

Conclusion

It should not be said that salespersons are nagging. As this is done through a lack of tact or unprofessionally, through which existing customer database can be affected. This sour relationship in a growing business is uncalled for. It should be avoided.

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.