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Why Is Competitive Advantage Important For Your Start up?

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Competitive Advantage Important For Your Startup,Startup Stories,Startup News India,Good Startups in India,Positive Motivational Stories,Startup Competitive Advantage,Most Important Competitive Advantage,Startup World,Startup Business Idea


The very first thing a start up does before flourishing in the marketplace is, develop a market plan! The market plan comprises of many factors, however, the most important is competitive advantage. So, what is a competitive advantage? It is basically anything that sets your business apart from another. Any firm requires a competitive advantage to make its presence felt in the business marketplace. Only then, can you differentiate your start up from other existing firms!

The significance of competitive advantage!

The start up world has been evolving with each passing day! The competition is getting intense like never before. So, how do you create superiority when compared to your rivals in the business market? Develop a brand recognition that a company either delivers quality products at a lower cost than the competitors or, offers various services at a greater value when compared to the competitors! Ensure that your products or services are better and best in terms of quality! This could create popularity among the consumers and they would spread a word which in turns makes your brand recognizable. Consumers could recognize your brand easily and prefer choosing you over others! When you establish an effective brand name, customer base becomes extremely powerful resulting, in customer loyalty. Isn’t that pretty much any firm would love to have? Having your customer come back to you over and over! Apart from this, when you establish an effective competitive advantage, you could develop the reputation of offering the best service or support in the industry which allows your company to charge more for your offering! This makes your investments in the firm all worth it, right?

Listed below are the parameters that you should consider while developing a competitive advantage for your start up!

  • Quality of the product/service
  • Pricing
  • Marketing
  • Innovation

For example, the famous fast food chain McDonald’s competitive advantage relies on a cost leadership strategy! Likewise, the technology giant Apple, is quite famous for its innovative products! This is how you differentiate your company from others! You discover and develop a unique strategy for your firm! However, at the end of the day, it is exceptionally important to keep a track of your firm’s growth in the marketplace! Find out what is working and what is not! With time, if something doesn’t click then work on it along with your marketing team and implement the change!

So, if you develop a great competitive advantage in the market, you could survive in the long run and become a market leader! A competitive advantage could make you or break you! In today’s competitive world, standing out from the crowd is essential! The best strategy for your company is to focus on improving the quality of your product or service so that it is universally recognized as being superior to anything else available! So, choose the path wisely in order to create a better competitive advantage for your start up! 

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How To

How To Build Trust With Clients

Smruthi Kishore

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How To Build Trust With Clients,Client Relationship Building Skills,Build New Clients Trust Factor,Clients Trust Factor,Important of Clients Trust Factor,Build Client Relationships,How Clients Build Trust,How to Build Trust in Business,Client Relationships,Clients Trust,Best Startup Ideas 2018,Best Startups in India 2018,startup stories,Startup Success Stories 2018

For new businesses to grow and have their marks felt, the most important factor is trust. When you are working at a company, your reputation is everything and when that does not work the way you want, things can get messy. With your entire future at stake, building and establishing your trust factor is definitely the most important thing. Here’s how you can get people to not only take you seriously, but also believe in what you have to offer to the world.

1. Show your clients your human side

More often than not, one of the biggest mistakes a company makes is the way you approach your clients. Have a human touch to your messages and make sure people understand what you are saying.

2. Show your clients you trust them as well

One of the primary things to learn about trust is, it has to be earned. You need to let the other person know you trust them as well and that can only be done if you put everything about you as a company on the table. It is also important to know that your clients are not stupid. They know what they are doing and saying, so make sure you give them the benefit of doubt in these cases.

3. Stick to your commitments

The moment your clients realise you are a company which sticks to your word, trust is not far off. If you can’t keep to your commitment, then explain the situation and let your client know why something didn’t happen as planned. The more you give your client an insight into your ways of working, the more validation you get from the client. Always a good rule of thumb for building trust!

4. Display competence

When you show your clients you are in the business for the long run, one of the key ways to do that is by displaying competence. Know what you are talking about and when you don’t, understand the situation and get complete clarity on what is happening. Make sure you are completely honest about what you are saying because while people can understand lack of knowledge, a lie is harder to forgive.

5. Value feedback

While you may know what you are saying and doing as a company, it is important to understand the other person is only saying what they are because they have constructive feedback. The feedback may be obtained in the form of a quick survey or through pointers received from the client. Take what makes sense to your business and let your client know you appreciate what they have to say in a manner which does not come off as defensive.

6. Create an experience

Treat your clients in a way which lets them know they have your complete attention. Always remember the saying, “Marketers don’t make the brand, people do.” Make every interaction with your client memorable, in a manner that ensures longevity in memory!

While building your company in itself is a hard task, establishing trust is harder. If you think there other ways you can build trust between you and your clients, comment and let us know!

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Signs Which Show You Are Meant To Be An Entrepreneur

Smruthi Kishore

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Have you ever had that itch, when you worked at the same place for a long time and realised you just are not meant to work for someone else? Have you ever had that feeling where you are never satisfied with what you do, no matter how interesting your job profile may be? Then you probably aren’t cut out to be a part of the corporate world. While most people don’t think they can branch out on their own and become an entrepreneur, if you have these signs, then this is the role for which you have been looking!

1. You like taking risks

Were you the first one to jump into things everyone was scared of doing when you were a kid? Were you always known for walking down the longer and scarier route instead of taking the easiest road out? Then these are all clear signs of you being a risk taker! One of the key features of being an entrepreneur is to be able to take calculated risks and if you were able to do this all your life, then the stars are clearly aligned in your favour.

2. You never felt like you belong

More than half the entrepreneurs in the world never felt like they fit in the normal ways of life. If you think the 9 to 5 schedule is not meant for you and you were never able to stick to a pattern, then the corporate life isn’t meant for you.

3. You want to keep learning

One of the major traits entrepreneurs have is a love for learning. Everything is new and everything is exciting. There is no dearth of knowledge in the world and when you think there’s a new subject, the learning is always better and more exciting.

4. You like walking on the path not known

The ability of being able to think outside the box is what sets entrepreneurs and businessmen apart from each other. While most entrepreneurs have the urge to move beyond the conventional path of what is already there, it is the entrepreneurs who work toward creating their own boxes. If you were never okay with being ordinary and common, then the entrepreneur life is for you.

5. Competition is your middle name

Have you ever had the urge to always be better than everyone around you? Were you never satisfied with standing second on the list? Then you are a truly competitive person and you like coming out first, always! Having a competitive streak is one of the most important traits possessed by an entrepreneur and if you fit under this category, you know what your end goal should be!

6. Your eyes are set on the bigger picture

If you were never bogged down by the inconsequential things in life, then you know you have your eyes set on the bigger things in life. You have a vision and your mission in place and when you work to make your dream come true, you know you have your eyes set on a future which is far from what meets the eyes.

When you are an entrepreneur, you don’t just wake up one day and realise you want to branch out on your own. There is always an urge and a push which makes you want to do something bigger in life. If you think we missed out on any other characteristics, comment and let us know!

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HR Tools To Automate Procedures

Smruthi Kishore

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HR Tools To Automate Procedures,Best Startup Ideas 2018,Best Startups in India 2018,startup stories,Startup Success Stories 2018,7 Human Resource Management Tools,HR Automation Tools,Zoho People,Uber Conference,Kissflow,Impraise,Best HR Automation Process,HR Automation Benefits,Human Resource Automation Tools,Benefits of HR Automation

In the past few years, with technology having a large hand in every field of life, it comes as no surprise that there is a massive upgrade in the way things function as compared to earlier. This growth is all the more evident in the way a typical office functions, with the Human Resource department benefiting the most. When LinkedIn first came to be, it came as a blessing in disguise to recruiters and with the advance of technology, this blessing grew even more. Here are some apps that help in streamlining hiring processes.

1. Zoho People

A cloud based HR management software, Zoho People lets users coordinate, organise and manage data of all the employees in the company. From tracking leaves to timings to appraisals and performances, this app helps in automating all things related to HR. Further, by using the Human Resource Management System (HRMS software,) this particular app lets one track everything related to all the time consuming things together in one place. Zoho People helps in giving you free time to get other things done.

2. Mettle 

An assessment platform used to conduct different tests and to assess potential candidates, Mettle works well because it provides streamlined and detailed information about the employee. With an eye on two processes, hiring and deployment, this particular tool helps in giving a detailed understanding on the kind of people HR wants to hire.

3. Uber Conference 

Despite technology being what it is today, there are still a lot of bugs one faces when it comes to things like conference calls. Uber Conference is a blessing in disguise when it comes to this. With a free web client based structure, all one has to do is call a unified number and the conference call gets enabled. One of the other advantages of this service is, it is extremely easy to use, with the only requirement being signing in through Google.

4. Trello 

A web based platform which helps one in analyzing and visualizing projects at hand, Trello helps connecting people across an organization. This app is extremely useful for when work is directly monitored by the HR. Furthermore, one of the other advantages of Trello is, it facilitates the integration of third party organizations like Stack, GitHub and Salesforce for users who pay to use the app.

5. Wade & Wendy 

Wade & Wendy, an app based robot enabled with artificial intelligence, helps in identifying and shortlisting candidates who are best suited for the company. A two way street for both the HR and the potential employee, Wade & Wendy helps in improving the employee’s career path by tracking their performance as well.

6. Kissflow 

One of the most streamlined websites in terms of improving the structure in companies, Kissflow helps in improving the approval processes between the employee, the manager and the HR. Not just that, Kissflow also works because it improves the response time between the request raised and the reaction received to solve the problem.

7. Impraise

Last but not the least, Impraise helps in giving continuous and automated feedback to the employees, especially during the appraisal period. With just the click of a smartphone, the app helps in giving access to a host of data and information, which further reduces the amount of time the HR teams puts into the entire process!

The Human Resource department always has a lot to do and with technology spreading its arm over different areas, it comes as a happy change to see it being used in this field as well. If you think we missed out on any other tools related to this, comment and let us know!

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