|In: BlockChain|Last Updated: | 0 Comments

When is the right time for your business to implement blockchain technology? Is it the right time to invest your capital in the technology and if yes, then will your current capacity or core capabilities be able to bear the overwhelming potential that blockchain has to offer? The Government of India, in its 2018 budget, has undertaken to explore the use of blockchain proactively for ushering in a digital economy. To aid the efforts of the Government, Microsoft* has been working over the last many years with global giants to uncover the potential of blockchain across banking and finance, retail, cyber security, supply chain management, IoT, Insurance, cloud storage and many more.

Image Source – BlockChain

But what is blockchain exactly? And what capabilities make it so attractive for enterprises?

Blockchain is a disruptive technology trend that enables a shared, authentic, decentralized ledger that is-

Secure: Blockchain uses strong cryptography to create transactions that are impervious to fraud and establishes a shared truth. Also, all the transactions are signed with the digital certificate.

Shared : The real benefits of blockchain, over conventional technology, are achieved when we use it to link organizations to share information on a distributed ledger.

Distributed : A blockchain can be distributed across multiple organizations and becomes more secure as replicas are added.

Ledger : Every transaction is written into the ledger once and cannot be changed after the fact.

What kind of businesses is blockchain best for?

First and foremost, blockchain technology is adept for businesses where large amounts of data is transferred, updated and filtered by multiple users. The potential scenario to apply blockchain depends largely on that. Once we realize that there is a situation that requires the capabilities of blockchain, there arises the need to understand whether a public blockchain is required or an enterprise blockchain is essential.

But what is an enterprise blockchain? An enterprise blockchain [i.e. Hyperlegder, Ethereum Enterprise, Ripple, Quorum, etc.] is a distributed ledger with the following characteristics-

  • All the participants, and their digital identities, are known from one or many trusted organizations
  • Writes and read permissions are roles-based and usually requires consensus of several participants
  • Multiple algorithms are used for consensus

There are two types of enterprise blockchain:

  • Private: Usually managed by a single organization. Typically, the network participants are internal business units or divisions.
  • Consortium: In this case, the blockchain network is managed by multiple trusted organizations. New participants require a consensus of several participants.

Which industries can use blockchain?

The potential impact of blockchain is significant across all sectors and industries—from banking to government to healthcare and beyond, as it-

  • Eliminates intermediaries increasing efficiency and speed.
  • Simplifies operations by reducing cost and time related to reconciliations and disputes.
  • Potentially enables new business models increasing revenue and savings.

According to top market analysts and leading consulting firms, the top five industries that blockchain will likely disrupt by 2020 are financial services, government, real estate, supply chain management, and media distribution. Currently, most Microsoft customers using blockchain on Azure are financial services institutions, including insurance companies. However, the trend is rapidly shifting to other industries.

More interestingly, a sizeable percentage of blockchain implementations involve at least one participant from a second industry such as manufacturing, government or retail. A few customer examples are –

  • Bank of America and Microsoft Treasury using Blockchain in a Trade Finance scenario to improve the process of issuing a Standby Letter of Credit to a customer [SBLC] to a customer.
    Impact – The process has been reduced from 3-5 weeks to just 3-5 days
  • Renault Group is working together with Microsoft and VISEO to create the first digital car maintenance book based on Blockchain and using Microsoft Azure capabilities.
  • Large food manufacturers and distributors are using blockchain to track their premium products journey from source to consumption efficiently, and to have a shared ledger as the single source of truth.

In India, amongst other strategic partnerships and implementations, Microsoft has partnered with Primechain whereby Azure Blockchain is the exclusive cloud platform for BankChain, a blockchain consortium of 30 top banks. Primechain is creating innovative applications on top of Azure for near real-time cross-border remittance at near zero cost, real-time peer-to-peer transfer systems with automated reconciliation, end-to-end loan syndication process management, vendor on-boarding, NDA processing, and vendor rating and many more. The State Bank of India, India’s largest bank is using Primechain’s blockchain-enabled smart contracts and KYC [Source]

Both, in India and globally, Microsoft is the partner of choice for the financial services industry, be it for transforming into a modern workplace, collaborating securely in real-time with first line workers and field teams, reducing IT costs, improving CRM performance, or technologies like blockchain.

Looking ahead, Microsoft is working with customers, partners, and the developer community to accelerate blockchain’s enterprise readiness. Microsoft’s mission is to help companies thrive in this new era of secure multi-party collaboration by delivering open, scalable platforms and services that any company can use to improve shared business processes. Its roadmap is based on the following principles –

  • Blockchain on your terms – No one-size-fits-all approach — Microsoft’s platform and ecosystem partners make it easy to get started and iterate quickly with the blockchain of your choice, both on-premises and in the cloud.
  • Integrated with your business – Merge blockchain with the IT assets you already have. Azure lets you integrate blockchain with the cloud services your organization uses to power shared processes.
  • Ready for the enterprise – With the Coco Framework, Cryptlets, and Azure services integration, Microsoft is addressing existing technology gaps with blockchain and helps organizations build durable enterprise-grade applications.

Microsoft also actively participates in industry consortiums such as R3, Enterprise Ethereum Alliance, and IC3, to understand core industry scenarios, and to continue learning to meet the needs of customers. Currently, Microsoft supports the most widely used blockchain and distributed ledger protocols on Azure, including HyperLedger Fabric, R3 Corda, Quorum, Chain Core, and BlockApps.

For more information, please visit here and here

[Note* – This article is contributed by Microsoft]

|In: Funding|Last Updated: | 0 Comments

Healthureum, blockchain based healthcare startup announced raising of $15 million in the bounty program of its Pre- ICO campaign. The company had undertaken it’s first ICO in the month of Nov~Dec and ended up raising an amount of $15 million. Healthureum an Estonia based startup that claims of bringing first blockchain based Healthcare announced its Pre-ICO in the month of Dec and after an overwhelming response from the market is all set for its Upcoming Token generation event which is scheduled for the 3rd week of February respectively.

New applications of blockchain technology are picking up pace and startups are bent on exploiting it in every way. As complex as it may seem, blockchain is a decentralized ledger that records transactions on blocks and encrypts them cryptographically. It’s decentralized nature enables preserving the integrity of data and hence makes blockchain ideal for application in data management.

Healthureum, launched its initiative aiming to revolutionize the healthcare technology by integrating blockchain and cryptocurrency into the existing system to eliminate malpractices and errors in order to ensure efficiency and accuracy in the operational procedures of healthcare. The company made news after it raised a sizeable fund in its Pre Token Generation Event [Pre-TGE] mounting up to $15 million at the very beginning of this year.

Healthureum is a platform designed on Ethereum based blockchain employing smart contracts to create a dynamic environment for stakeholders involved in the overall healthcare procedures by facilitating payments and rewards within the system with the use of an exclusive token called HHEM.

Spearheaded by Data Scientist Malcolm Wilkinson, Medicine Specialist Tomoi Set, and Chief Project Office Danuta Kowalska, this integration of a 21st century technology, blockchain, and one of the most ancient practices of humankind, healthcare, is dubbed as the first step to a holistic environment where solutions to multiple health services related problems well forth from this sophisticated software.

As per the press releases from the company, Healthureum will proceed with its next ICO beginning 26th February, 2018 till 1st April, 2018 with an appreciated token price at $3.95 from a previous $3.53. Healthureum provides efficient support in doctor consultation, referrals, and diagnostics, medical infrastructure, philanthropic activities, data systematization, and research programs to enable cost cutting, population health management, innovation, and regulatory practices by adopting cooperative delivery models and transitioning to digitized operations.

Ritu Tyagi, Director of Marketing, Healthureum, said

The response to the Pre TGE has been encouraging and we are looking forward to another successful Token Generation event on 26th February. Our investors have immensely supported the development of our services in the early stages. We are positive that the establishment of a decentralized framework will induce a chain reaction to rejuvenate the operational and administrative procedures in both institutions and the bureaucracy not only in the west but across countries.

Studies conducted by American giants such as Deloitte and IBM state the role of blockchain in the evolution of healthcare and shortcomings of the prevalent systems further corroborate the scope of blockchain’s application in the industry. With a transparent and immutable ledger of longitudinal history of every patient participating in the system, the crippled structure of data management which causes prejudicial events for the patients as well as the caregivers in the industry can be stabilized and revived. More than 500 lives lost each day due to errors and accidents in the hospitals can be prevented by replacing the existing mechanisms with systems capable of managing mountainous data such as in the health industry.

Transitioning to a digitized system is expected to invite support from philanthropic contributors as well as investors. A monetary influx is essential to support the upcoming change while simultaneously filling the existing gaps in other fronts of the systems as lack of trained personnel, advanced equipment, infrastructure, and need for research and development. The cryptocurrency based model, using HHEM token on the ECR20 standard, is a self appreciating scheme to provide high yield to each participant as well as to the whole system at large.

The HHEM token will facilitate fast and secure transfer of funds across borders for payments for services and rewards on referrals both within the network and outside it enabling patients to seek video consultation from doctors in any part of the world without worrying about the hassles of transferring money to another country hence opening the doors to a globally connected network of doctors and patients.

Aiming to bring standardization, scalability, and social responsibility, blockchain is a blessing in disguise as it is expected to improve the overall state of people’s health in the country that it is established to. The health of a country’s population is an essential determinant of the growth of the economy, very well reflected in the GDP when more and more people are able to contribute to the development of the areas they work in while the financial burden on the economy is reduced when people are healthier. 

Blockchain based initiatives, such as Healthureum, are garnering attention as experts and enthusiasts in finance and tech look for promising opportunities which are, of course, financially beneficial and also lead change in their niche. With an advantageous start at the Pre TGE, Healthureum has its road map ready with the implementation of its Alpha model in hospitals lined up in November 2018.

|In: e-commerce|Last Updated: | 0 Comments

Criteo S.A., the leading commerce marketing technology company, announced the launch and general availability of the Criteo Reseller Program. Developed with the needs of the Asia-Pacific [APAC] region in mind, the program allows online marketplaces to resell, Criteo’s best-in-class solution, Criteo Dynamic Retargeting, to merchants or affiliates on their platforms.

Regional eCommerce sales are expected to exceed US$3 trillion and account for more than 25 percent of total regional retail sales by 2021. Across the APAC region, close to 6 in 10 shoppers purchase products on online marketplaces. The program has therefore been designed to help online marketplaces and their merchants maximize their share of this APAC growth opportunity, while delivering seamless and relevant retail experiences to shoppers across all devices and channels.

Yvonne Chang, Executive Managing Director, Asia-Pacific, Criteo, said

In virtually every APAC country, an online marketplace tops the list of eCommerce sites or apps most used by local shoppers. For merchants, participation in an online marketplace has become the most obvious pathway to success. Through the Criteo Reseller Program, merchants can now take advantage of Criteo Dynamic Retargeting, within marketplace environments, to re-engage shoppers online.

They can control and adjust their ad spends to better connect shoppers with products they need and love – this will boost revenue for themselves, the marketplaces and the economies they are a part of. The program will drive further commerce growth in each country and across the region.

With access to Criteo’s machine learning technology and open commerce marketing ecosystem, a merchant can now serve personalized product offerings and recommendations to reach, engage and convert shoppers on a larger scale. An online marketplace that empowers increased reach and sales for its merchants will enjoy revenue and higher Gross Merchandise Volume [GMV] growth, while reinforcing itself as a valuable sales channel.

The Criteo Reseller Program offers online marketplaces an Application Programming Interface [API] that simplifies campaign management. The technology allows merchants to manage & adjust their own ad spends and Cost-Per-Click [CPC] prices to boost sales under the marketplace’s dynamic re-targeting campaign. As a result, online marketplaces do not need to manage ad spends and budgets on behalf of merchants. The marketplace manages the technical integration, with no further technical development required from merchants themselves.

Yahoo! Shopping Japan was an early adopter of the Criteo Reseller Program in early-2016. Within a relatively short period of time, more than 1,800 merchants on the online marketplace saw the value of using dynamic retargeting campaigns to drive traffic to their product pages, thereby increasing Yahoo!’s online marketplace sales by 69 percent.

Criteo Dynamic Retargeting uses machine learning technology to comprehensively understand shopper behavior across devices, browsers and apps. After accurately predicting an individual’s propensity to buy specific products, the technology customizes product recommendations and the ad’s visual design in real-time, driving engagement and compelling the individual to complete a purchase. Criteo’s direct relationships with thousands of premium publishers delivers scale and ensures the best dynamic ad placements across all online channels, so shoppers can be reached and engaged wherever they are online.

Patrick Wyatt, Senior Vice President, Product Management, Criteo, said

The Criteo Reseller Program paves the way for commerce businesses to define their own growth and future. The program was developed to enhance the power of Criteo Dynamic Retargeting for online marketplaces, merchants and affiliates. By staying ahead of emerging industry needs and offering industry-leading Criteo Dynamic Retargeting technology through this new program, we are committed to fulfilling our vision of building the highest-performing and open commerce marketing ecosystem.

At Criteo Exec Connect 2018, the company’s first-ever regional thought leadership and education summit for commerce businesses and digital marketers, the leadership team shared the company’s Commerce Marketing Ecosystem vision, Innovation Roadmap for APAC, as well as Commerce and Online Marketplace Outlook 2018. The Outlook provides valuable insights on voice shopping, data collaboration, connecting online and offline sales, and the impact of the upcoming General Data Protection Regulation [GDPR], among other trends that are expected to shape the industry in the year ahead.

The summit, hosted by Criteo in Da Nang, Vietnam, from 1 to 3 February 2018, was attended by 40 major APAC commerce players, including Lazada, Expedia, The ICONIC, Flipkart and Nykaa.

|In: IOT|Last Updated: | 0 Comments

In a move designed to promote the adoption of Internet of Things across sectors, leading IoT platform and solutions provider Aeris Communications has announced the launch of an exclusive solution developed for the social/not for profit sector.

The first of its kind IoT solution for the not for profit sector offers a range of benefits to stakeholders connected with NGOs and similar organizations. Among other benefits it helps promote efficiency, operational transparency and better engagement between all stakeholders at all times. It provides aid from a single source including disaster relief and reconstruction support to long-term development cooperation projects with local partner organizations.

The launch customer for this solution is Welthungerhilfe, one of Germany’s biggest private organizations for development and humanitarian aid, which is working on water conservation in India.

Dr. Rishi Bhatnagar, President, Aeris India, said

At Aeris, we have always worked towards broadening the spectrum of IoT adopters. IoT will be able live up to its potential only if it moves closer to mass adoption. Many social enterprises have already embraced technology to further their development agenda and with this solution, they will be able to use Internet of Things as well. This will not just help social enterprises but also the beneficiaries they work with.

The solution has been developed in association with Aeris’ solution partner Manacle. A variant of this solution is already powering enterprises ranging from large FMCG majors, logistics, telecom and manufacturing firms. With the availability of this solution, social enterprises will be able to leverage Internet of Things to achieve their goals around sales, order and cash management.

About Aeris

Aeris is a global technology partner with a proven history of helping companies unlock the value of IoT. For more than a decade, we’ve powered critical projects for some of the most demanding customers of IoT services. Aeris strives to fundamentally improve businesses by dramatically reducing costs, accelerating time-to-market, and enabling new revenue streams. Built from the ground up for IoT and road tested at scale, Aeris IoT Services are based on the broadest technology stack in the industry, spanning connectivity up to vertical solutions. As veterans of the industry, we know that implementing an IoT solution can be complex, and we pride ourselves on making it simpler. For more information, please visit Aeris

|In: e-commerce|Last Updated: | 0 Comments

BookMyShow, India’s largest online entertainment ticketing platform, said that it has alone sold close to 5 million tickets for Padmaavat since the release of the film on January 26, 2018. The Deepika Padukone, Ranveer Singh, Shahid Kapoor starrer enjoyed a two week clear run at the box-office, though a few cities were not part of the release.

BookMyShow, the category leader in online movie ticketing, contributed over 60% of Padmaavat’s opening weekend collection – a staggering contribution for a blockbuster release – achieving over INR 100 Crore collection on BookMyShow. The Sanjay Leela Bhansali magnum opus sold tickets across 340 cities and towns and was released in Hindi, Tamil and Telugu, in 2D, 3D and IMAX.  The film’s first ticket was booked from Jharsuguda in Odisha, while maximum number of tickets for Padmaavat were sold in Mumbai, followed by Delhi, Hyderabad and Bengaluru.

Padmaavat, which was clearly the movie of the month for the Indian film industry, contributed to over 35% of the total movie ticket sales on BookMyShow in the month. BookMyShow also rolled out an ad film [BookMyShow TV Ad | Touchy Topic] and a digital film [BookMyShow Video Ad | Padmaavat – Jao Book Now] around the movie which was viewed and shared by millions of movie lovers across the country.

Marzdi Kalianiwala, VP- Marketing and Business Intelligence, BookMyShow, said

Padmaavat has definitely given the movies business a great start this year. BookMyShow sold over 500 tickets a minute, making our contribution as high as over 60% to the film’s opening weekend collection. With some exciting releases lined up, we do expect February to be a good month for the movies business.

As market leaders, we also continue to work closely with production houses and movie theaters to increase footfalls, and drive ticket sales – in line with our endeavor to increase the overall share of online movie ticketing in India. Our extensive marketing strategies, backed by real time user engagement data and incisive understanding of the entertainment industry, allows us to play a larger role in the growth of the overall category.

About BookMyShow

BookMyShow, is India’s largest online entertainment ticketing platform that allows users to book tickets for movies, plays, sports and live events through its website, mobile app and mobile site. Founded in Mumbai in 1999 and launched in 2007, BookMyShow is now present in over 650 towns and cities across India, currently meeting the entertainment demands of millions of customers. For more information, please visit BookMyShow

|In: Fintech|Last Updated: | 0 Comments

Scripbox was awarded the ‘Best Innovative wealth, asset and investment management service/product‘ by the Internet and Mobile Association of India [IAMAI] at the 8th India Digital Awards held last week. The awards were part of the 12th India Digital Summit held in Delhi. IAMAI’s India Digital Awards recognizes and rewards organizations, teams and practitioners who deliver successful business outcomes using the digital medium.Scripbox uses proprietary algorithms to simplify and automate the steps required for successful mutual fund investment. Human errors and bias are removed as the algorithm recommends the best mutual funds to invest your money in. Additionally, best investment practices such as periodic review and refreshing of funds are also automated by Scripbox. Since their inception in 2012, they have enabled over 1.1 million investment transactions.

Speaking about the award, E.R. Ashok Kumar, CEO and Co-founder of Scripbox, said

It is a proud moment for us to have our efforts recognized by IAMAI. We have been focused on delivering customer focused innovation and doing what is best for the customer in personal finance. This award will go a long way in encouraging us and endorsing our efforts.

Union Minister for Commerce and Industries Suresh Prabhu and NITI Ayog CEO Amitabh Kant attended the IAMAI 12th India Digital Summit which concluded with the 8th India Digital Awards. IAMAI is the only representative body of Internet Services business in India. IAMAI is a not-for-profit industry body which champions the interests of India’s internet services business among government, investors, consumers and other stakeholders.

About Scripbox

Scripbox is India’s most trusted online investment service. Scripbox simplifies the journey of wealth creation with jargon free and unbiased automated investing – scientifically choosing the best funds to invest your money in. Established in 2012, Scripbox today has over 3,50,000 subscribers across 1150 cities & towns who have invested over Rs.650+ crore of their savings with the company. For more information, please visit ScripBox, also available on Android and iOS.

|In: Gaming|Last Updated: | 0 Comments

Many years back, we had only three major requirements – food, water and clean air but with the advent of mobile [smartphone], it has also been added to the must-have requirements. Many of us develop a feeling of anxiety when our mobile phone is not around. With changing times, our basic necessities have now moved beyond Roti, Kapda, and Makaan to Roti, Kapda, Makaan, and Mobile. The mobile revolution has impacted each and every sector in business, whether it is banking, shopping, social, food, etc. and it has a profound impact on our day to day lives. Gone are the days where you had to plan in advance to do grocery shopping or buying clothes/shoes/gifts, etc. since there are mobile apps that help you achieve the same.

Image Source – Poker

As per a report, mobile phone penetration is set to rise to 85~90% by 2020 and this growth has been fueled by the slew of affordable smartphones in the 8K~10K price range [Source]. Along with affordability of smartphones, increased internet penetration [even in rural areas] and push towards a Digital India are some of the other aspects that are driving the digital adoption in India. Gaming is one more industry that has also undergone a massive shift over a period of time. The mobile gaming was largely dominated by PC and console-based gaming in the 2000’s where several middle-income group Indians jumped on to the gaming bandwagon. Over a period of time, numbers of gamers in India are increasing multi-fold due to mobile penetration and improved internet connectivity. Mobile gaming has truly shaped how we engage with our smartphones today.

As per the Flurry Mobile Gaming Report, United States, India, China, Brazil, and Russia are the top five mobile gaming countries that drive 50% of all global gaming sessions [Source]. Since there are more than 350 million Indians in the youth population bracket, India becomes a very important market for the global gaming industry. Compared to other global markets, India has a very diverse consumption pattern and gaming behavior. The diversity exists across

Image Source – Game Diversity

The emergence of technologies like Augmented Reality [AR], Virtual Reality [VR], freemium game development, adoption of Platform As A Service [PASS] are some of the other factors fueling the growth of the overall gaming industry. In a nutshell, there are ample amount of opportunities for local players, well as global players like Zynga, Gameloft, etc. to make a dent in the evolving Indian gaming industry.

Card games have also moved beyond the physical tables and a lot of gaming companies in India are creating a niche by offering traditional games like Rummy and Teen Patti online that not only connects with the general audience but also bring a feeling of nostalgia in your minds. Games like Rummy and Poker are not only card games but you require a good amount of analytical & logical skills to play them. They are considered as mind games 🙂

More and more Indians are spending a considerable amount of time on smartphones & even hardcore gamers are shifting to the small screen for playing games. Though games like Poker are relatively new to the Indian audience, there is a growing interest and many Indian gamers [who are popular with card games] are willing to jump on to the Poker Bandwagon. When we talk about Poker, PokerStars [the flagship brand of The Stars Group Inc.] comes to our mind. On PokerStars, you will find more tournaments and games than any other poker site, with 24/7 support, secure deposits, fast cashouts and award-winning software. It is home to the best online poker events. PokerStars is the largest online poker site in the world controlling over two-thirds of the total online poker market [Source]. There has been lot of buzz about PokerStars entering India and that time might come soon

#PokerStars organized an event in Bengaluru where the main guest was Professional Poker Player – Aditya Agarwal. Aditya Agarwal is a member of Team PokerStars Pro and has cashed for more than four million dollars in the biggest PokerStars tournaments. He has been playing Poker since 2004 and now he has been tasked with the responsibility of promoting Poker in India. During the event, Aditya interacted with the bloggers and other members who were interested in Poker and shared details about his journey, love for Poker and why India is ready for a game like Poker. More details about Aditya Agarwal can be found here. Since card games like Rummy [and also Poker] are considered as games of skill, players can play and make real money during their tournaments.

Himanshu Sheth (L) with PokerStars Pro ‘Aditya Agarwal’

While discussing about the adoption of Poker in India, Aditya explained that he is bullish that the early adopters of the game would spread the word and bring more interested gamers to the platform. Though this would be a huge task, they already have a decent platform since ‘social gaming’ or online card games are gaining more popularity due to wider internet penetration and if professional Poker players like Aditya can help reduce the learning curve, the game would see faster adoption.

Just like Rummy, Teen Patti and other online card games are garnering wider acceptance and fanfare, we hope that #PokerStars is also accepted by the ever-expanding online gaming community. PokerStars is set to launch in India soon and we wish that they create a dent in the online social gaming market in India!

|In: Entrepreneurship|Last Updated: | 1 Comment

Do you have a dream of starting something on your own? Do you have that spark in you? Are you in short of money to pursue your business? Always remember that most of the biggest companies were started on a very short budget.

Amazon’s office during the early stage

If you have that passion in you, budget constraint won’t be able to stop you from winning, period.

Let’s discuss a few pointers you need to consider if you are starting your business on a budget

Paperwork is optional

Unless you are dealing with some legal way or something, it is not mandatory to get your business registered. Many of the small business were started without any paperwork done. Once they validated their idea, they proceeded to get their site registered.

I see guys getting into all the paperwork without even validating their idea. Later on all the effort of registration and paperwork is wasted if the business doesn’t turn out well.

You don’t need an office

Jeff Bezos started his empire from garage and same is with Larry Page. Don’t hesitate to make garage your office if required. You can always opt for those swanky offices once you run in profits.

As most of the businesses these days run on laptops and phones, you can also get this done sitting in the comfort of your home! I understand that some guys hesitate sitting in garage or home, but if you are really serious about the work, you will be able to do it no matter where you are sitting.

Be ready to make your hands dirty

While in corporate world, there is a specific task assigned to each of the employee. But when you are starting up, you have to do it all yourself. Sometimes you be the sweeper and sometimes a telecaller. Man, this is startup and you have to get into multiple roles unless you are a Ambani or Tata.

Similarly, get things like branding and website by yourself too. I have used Canva’s Free visiting card maker to get some awesome cards done within seconds and used DesignEvo to make logos. Want a website done? Get website builder and do it yourself. Similarly you can do a lot of things by your own.

Want a website done? Get website builder and do it yourself. Similarly you can do a lot of things by your own.

Save Save Save, negotiate where you can

A penny saved is a penny earned, right? Negotiate everywhere. Always remember you are on a fixed budget. Buying computer parts? Search for wholesalers in your area. Always look out for wholesale places as there are always such places where the prices are low.

Similarly, ask your vendors to give you credit for a month or so. This will help you keeping cash in hand. Also, keep a check on minute expenditures. These small ones look negligible but they might result in huge expenses collectively.

Learn new things instead of outsourcing

As I said before, you don’t have to get everything outsourced when you are starting up. Learning new skills helps a lot. I know many startup guys who designed their website, who designed their logos, who painted their office.

There will be times where you will need expert’s help. For that, there are communities related to every industry. Just be bold and ask your query. Yes this is time taking, but who cares? When you are moving, it is good, whether it’s slow or fast 🙂

Do a lot of networking

Once I met a developer who turned out to a great guy. We met at local dev meetup where I offered everyone free hosting coupons I got from a friend who just started his web hosting company. The developers were so impressed, one of them offered me help to create my blog.

In a nutshell, networking helps a lot as you can help people as per your expertise and they can help you as per theirs. This is a win win situation where no one has to spend money to get things done!

Starting a business is no doubt a tough task. I have seen many guys sinking and getting back to their 9 to 5 within months of starting up. Don’t let any constraint hinder your way, keep your will as strong as stone and dive into the sea of entrepreneurship. All the best!

About the Author

Prince Kapoor is a Freelance Marketing Analyst and Blogger. While not working, you can find him in gym or giving random health advises to his colleagues which no one agrees on :). If you too want some of his advises [on health or on marketing], reach out to him at @imprincekapur