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Travis Kalanick Life Lessons

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Travis Kalanick Life Lessons,Startup Stories,Best Startup Ideas 2018,Best Startups in India 2018,Startup Success Stories 2018,Travis Kalanick Uber,Uber CEO Travis Kalanick,Travis Kalanick Life Story,Uber CEO Life Story,Uber CEO Success Story,Inspiring Story of Travis Kalanick,Uber CEO Inspiring Lessons


Travis Kalanick, the CEO of Uber, has a lot to his name. From bringing back a startup which was failed, to making its presence felt in more than 300 countries all over the world, Travis has come a long way. When he first began his journey in the year 1998, little did he know he was at the cusp of creating something truly great. Over the years, Uber has grown from being just an idea to being one of the most successful startups. Here’s taking a look at some truly inspiring lessons to learn from the man who made travelling a hassle free process.

1. It is okay to take risks

Nothing worth having ever comes easily in life. If you want something, you have to go out of your way to achieve it and through the years, Travis has taught us just that. The more you believe in yourself and the more you believe in your ideas, the more you know they will come true. The bigger your risks, the bigger your rewards and by making Uber what it is today, Travis taught us the importance of taking risks.

2. Start with small beginnings

When Travis started Uber, he started with a really small idea and a smaller team. With only four people coming together in a small room in San Francisco, Uber grew to a massive success through sheer hard work. However, with the zeal to realise their dreams and make them come true, this small team created magic by using passion as their potion.

3. Think of solutions

Finding the problem isn’t enough. Finding the solution is important. Work with your team, understand the root cause of the situation and figure out what really happened. The more you dig, the more you realise what the issue is and how it can be solved. A classic example was how Uber in itself came to be. When Travis realised there was a massive dearth of cabs in Paris, he realised the solution was to start a cab service company, an idea which eventually took over the world.

4. Don’t be afraid of the hurdles

Every time you work toward making your dream come true, there will always be hurdles that cause roadblocks. Ever since it was founded, Uber has had its fair share of issues. However, instead of giving up on the problems, the team always tackled them head on and worked on giving people what they want. Had they stopped UberMoto when it failed in Paris, they would not have a solution to the other problems in the world.

5. Make mistakes and learn from them

Making mistakes is a part of growing up, a learning process which has a steep curve toward success. One of the major reasons so many startups fail before they can hit the success mark is because they don’t look back on their mistakes. They don’t take stock of what went wrong and refuse to look at the things which happen out of plan. Learn from the hurdles, from the problems and find ways around them to successful ends.

6. Sell your story

One of the biggest things Travis believes in is the selling of a story. Weave magic with your words and sell your idea to the people who matter the most. One of the ways Travis sold the idea of Uber to his investors was by telling them to look at the world through the eyes of a taxi driver. Only when you truly take in everything with all the magic the world has to offer can you see the brighter things of life!

Through all the years of Uber’s growth and rise to success, Travis played a major role. If you think we missed out on any other life lessons from this visionary, comment and let us know.

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How To Increase Online Sales Of A Business

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How To Increase Online Sales,Online Sales Business,Increase Online Sales Business,Startup Stories,Latest Business News 2020,Increase Online Sales 2020,How To Increase Sales,Increase Online Sales Tips,Online Business Sales Tips

Sales is an important part of any establishment or organisation as it is a major revenue contributor.  A product or service can be sold any number of ways, but mostly it falls under either offline or online sales.  The present consumer is increasingly relying on technology to make their purchases and that is the reason why almost every company or organisation has an online presence on an aggregator platform or via their own in house app.

Online sales can be made consistent by following some simple tips given below.

1.Show customer testimonials

Testimonials are an important way for a new user to get an understanding of the product or service they plan to buy.  Testimonials offer customers a sense of confidence that they are making an informed decision about their purchase. Good testimonials are a way to convert impressions into sales.  Amazon has reviews for every product it offers on its platform and urges customers to leave a review as well after making a purchase.

2. Money back guarantees

Most online sales happen without the customer physically inspecting a product or service before making a purchase.  Therefore, it is a good practice to offer some form of money back guarantee for a sale, in case a customer is not satisfied with their purchase.  Having a money back guarantee is also a form of conveying the strength and quality of the product being sold. Online clothing store Myntra has a return policy where, if a customer is not satisfied with their purchase, they can return it back and the cost of the transaction is reverted back to the customer’s account.

3. Create a call to action

Creating a sense of urgency or a call to action is a very subtle way of guiding a customer to make an online purchase.  This can be achieved in many ways like offering a product bundle for a discounted price or creating a discount sales campaign.  Showcasing high selling products or the most recommended products are some other ways to make the customer make their choice quicker.  Food delivery platform Swiggy has an option called Swiggy Pop which has a curated list of meals for one person at attractive prices. This spares the customer the hassle of browsing through multiple restaurants and making a decision.

4. Streamline the checkout process

The checkout process is the most important part of a purchase.  Items in an online shopping cart are often left in the cart itself as the checkout process is time taking.  Lengthy information fields are most often a hassle and make a customer abandon their product in the cart and instead look for other alternatives elsewhere.  Having a secure payment gateway, which does not interrupt transactions midway, is a must have for the customer to trust the brand.

5. Offer multiple payment options

Have multiple payment options like cash on delivery, netbanking, online wallets, credit and debit cards.  The present day customer has many options at their disposal to make a payment and they would like to be able to make that choice in choosing how they would like to pay.  In India, almost every online marketplace offers a plethora of alternatives for payment, like Paytm, Google Pay and credit/debit card transactions from multiple banks, from which the customer can choose.

While there are multiple tweaks and ways to increase the online sales of a product, following these tips can help streamline the sales process and offer a sense of understanding from a revenue standpoint as well.

Learn more about how to increase sales of a business here: 4 Tips For A Business To Increase Sales

 

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4 Tips For A Business To Increase Sales

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4 Tips For A Business To Increase Sales,Startup Stories,Proven Sales Strategies to Increase Sales,Tips to Boost Your Sales,Tips to Improve Retail Sales When They're Down,How to Increase Sales in Retail,Ways to Increase Online Sales

Any business, once established, needs to generate revenue in order to sustain itself.  Sales are the major revenue generating stream for any business. In the current business landscape, it is highly imperative to have stable sales revenue.  A good product will automatically generate sales if it has a target audience who like what they are purchasing. However, any product or service always has scope for improvement and generating more sales.

Let us have a look at some tips for a business to increase sales.

1. Invest in a good sales team

Any business needs a sales team which can look after pitching the product or service to the target demographic.  Providing resources and training to the sales team will go a long way in generating a healthy sales forecast. Elevator pitches, quarterly audits and target based competition will generate a healthy atmosphere and a zeal to perform.  Leading software as a service (SaaS) company Salesforce currently has one of the best sales teams in the world and they invest a lot on them by offering them training at an event called ‘Dreamforce.’ The sales team is trained by leading industry experts and Salesforce executives.

2. Generate positive reviews

A business needs constant feedback to know the needs and wants of the customer in order to optimise its offering to suit their audience.  One of the easiest ways to do it is to go online and register on a reviewing site relevant to the industry in which the business is. Constant feedback, especially positive feedback, is important as it increases the likelihood of generating more traffic and demand for your product/service.  Google is one of the best platforms to get reviews as it is used by almost everyone. For example, a business which is in the food service space can focus on reviews on platforms like Zomato or Yelp.

3. Create packages or bundles

Creating packages or bundles of products or services clubbed together is a good way to maximize sales.  Clubbing together products or services which deal with the same issue or action increases the convenience and seem more useful to customers, who may believe they are getting more value out of a purchase.  E commerce giant Amazon offers suggestions based on user purchases, which show similar products that will be useful with a purchase. For example, if a customer purchases a mobile phone, Amazon’s suggestions may include a screen guard and a mobile phone case.

4. Partner with other businesses

A business can explore the possibility of partnering with another business if investing in research, development and infrastructure is expensive.  Partnering up with a business can create unique products which need less development time and investment because existing businesses have the necessary infrastructure in place and only need collaboration.  Microsoft is a good example in this instance. Microsoft was notorious for its reputation of not offering its products on Apple’s Linux platforms because Apple is a competitor.  However, Satya Nadella, when he was made CEO, decided Microsoft would partner with Apple and release a Linux compatible Microsoft Office suite for the iPad, the iMac, the iPhone and the MacBook.  This move drastically increased the sales of Microsoft.

A business can adopt these tips to come up with a sales plan which creates a revenue stream.  While these do not guarantee immediate results, they can provide an organic growth in sales traffic.  A good product should be able to elicit a definite answer from the audience and these tips should always go along with a call to action for the customer. 

Read more about how to increase business opportunities here: Five Steps Entrepreneurs Can Follow To Identify New Business Opportunities

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How To Start A Business With Little Capital

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Starting a business may seem like a great idea to pursue a passion, but it has its share of problems.  It is easy to worry about from where to bring in the investment for it, what kind of business should it be, whether it will give a return on investment and whether it will become sustainable and provide a stable source of income.  While these questions and the uncertainty can act as deterrents to begin a business, you can still start a business with a little bit of planning.

Let us look at some tips about how to begin a business with little or no investment.

1. Keep working at your present job

If an individual who wishes to begin a business already has a stable job, it is a little easier to begin investing resources into a business or an idea.  Having a job acts as a cushion on which you can fall back if things don’t go as planned. The job also acts as a source for initial startup capital by creating savings on which you can bank.  You will, however, have to put in those extra hours to work on the business. Mailchimp is a popular email marketing platform which was created by founder Ben Chestnut when he was running a design consulting business.

2. Create a business plan

Once sufficient savings are pooled up, it is important to work on your business plan.  Creating a list of variable and dynamic parameters which may affect the business, analysing the market for a demand, creating a business plan with minimal investment and operational costs and creating value for the product is important.

3. Start simple and build a revenue stream

One of the easiest ways to begin a business with little capital is most often by creating a service based model.  Service based models are easy to implement as revenue can be generated after providing a service. There are many service based industries like washing and cleaning, housekeeping and delivery services, to name a few.  If a product based model is your passion, consider starting off with services and use the revenue to build a product. For example, cooking or baking is the easiest way to generate revenue. Food will always see sales and the initial market demographic can be acquaintances, family and colleagues.

4. Consider a small loan or an incubator

Once a working model is established with revenue forecasts, consider taking a small business loan which will provide a capital pool that can be used to invest in scaling up and building infrastructure.  Incubators are a great way to grow as well. An incubator acts as a source of funding for businesses if they have good business models. Many well known business schools act as incubators. The famous startup WeWork also began as an incubator platform for startups and they have branches all over the world now.

5. Crowdfunding

Crowdfunding is a very powerful tool to generate capital for your product or business idea.  A lot of businesses kicked off using crowdfunding and it is not just limited to businesses. Crowdfunding can be used for any number of reasons like making a movie, starting a restaurant or funding travel.  Oculus Rift is a virtual reality headset which was crowdfunded by multiple backers on Kickstarter, a crowdfunding platform. Oculus was later acquired by Facebook for over $ 2 billion.

Starting a business does not have to be a complicated exercise and it can begin by following these tips if there is the problem of initial capital .  There is no shortcut to success, but these simple steps can help in achieving the goal of starting a business.

Read more about how to start up here: A Simple Guide To Starting A Business

 

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