In this comprehensive blog, we will explore various interview situational questions that prompt candidates to demonstrate their understanding of the challenges and opportunities in launching and scaling fintech startups. We will also delve into the essential components of an entrepreneurial mindset that are critical for success in this dynamic industry.

Interview situational questions are an integral part of the assessment process for candidates in fintech startups. The focus also often extends beyond technical skills and qualifications, since fintech companies are known for their innovation and adaptability and they seek candidates with a distinct entrepreneurial mindset. These questions aim to evaluate how candidates would handle real-world scenarios and challenges they might encounter in their roles and focus on the following key-factors:

1. Problem-Solving and Critical Thinking: Situational questions often present candidates with a specific challenge, such as a sudden market disruption or a security breach. The goal is to assess the candidate’s ability to think critically, analyse the situation, and come up with effective solutions. For fintech startups, which operate in a rapidly changing landscape, this skill is vital.

2. Regulatory and Compliance Scenarios: Fintech is heavily regulated. Candidates may be presented with scenarios that involve navigating complex regulatory requirements or addressing compliance issues. This helps evaluate their understanding of the regulatory environment and their approach to ensuring the startup remains compliant.

3. Customer-Centric Scenarios: Fintech startups often need to provide exceptional customer experiences. Candidates might be asked how they would handle a customer complaint, a service disruption, or an unhappy user. These questions assess their customer-centric approach and problem-solving skills.

4. Teamwork and Collaboration: Situational questions can also gauge a candidate’s ability to work in a team. For instance, candidates might be asked how they would handle a situation where different team members have conflicting ideas on a critical project. This helps assess their interpersonal skills and teamwork abilities.

5. Innovation and Adaptability: Fintech startups need to be innovative and adaptable. Candidates could be presented with a scenario that involves a sudden technological advancement or a disruptive change in the market. Their responses demonstrate their adaptability and their ability to capitalise on opportunities.

6. Data Security and Privacy Scenarios: Ensuring data security and user privacy is a top priority in fintech. Candidates might be asked how they would respond to a potential data breach or a breach of user privacy. Their answers show their commitment to protecting sensitive information.

7. Startup Growth Scenarios: Fintech startups often experience rapid growth. Candidates may be asked how they would handle situations related to scaling operations, managing increased user demand, or expanding into new markets. This assesses their capacity to manage growth effectively.

8. Ethical Dilemmas: Situational questions may present ethical dilemmas, such as a situation where a customer’s interests conflict with the startup’s profitability. Candidates’ responses reveal their ethical decision-making and their alignment with the startup’s values.

9. Product Development Challenges: Candidates could be asked how they would address a situation where a key product feature is not performing as expected or where a new product launch faces unexpected challenges. This assesses their problem-solving and product management skills.

10. Risk Tolerance: Entrepreneurs in fintech are no strangers to calculated risks. They are willing to take chances and understand that some level of risk is inherent in innovation. Candidates should be open to risk-taking, with the ability to assess and manage risks effectively.

11. Market Awareness: Successful fintech entrepreneurs are well-versed in market trends, customer needs, and competition. Candidates should demonstrate their market awareness and the ability to leverage this knowledge to make informed decisions.

12. Resourcefulness: Fintech startups may have limited resources, especially in their early stages. Entrepreneurs in these firms should be resourceful, capable of achieving goals with limited budgets or personnel. Candidates should provide examples of resourcefulness in their past experiences.

13. Resilience: The entrepreneurial journey can be challenging, and setbacks are common. Interviewers want candidates who demonstrate resilience, the ability to bounce back from failures, and learn from them. This trait is crucial for fintech startups that may face obstacles on their path to success.

14. Networking and Partnerships: Fintech entrepreneurs often build strategic partnerships and connections in the industry. Candidates should highlight their ability to network and establish mutually beneficial relationships with potential collaborators, investors, or industry experts.

15. Vision and Goal-Oriented: Entrepreneurial candidates should articulate a clear vision for their role within the fintech startup and the impact they aim to achieve. They should also be goal-oriented, setting measurable objectives and demonstrating their determination to achieve them.

Situational questions are valuable in fintech startup interviews as they provide insight into a candidate’s problem-solving abilities, adaptability, regulatory understanding, customer focus, and ethical judgement. They help assess not just the candidate’s qualifications but also how they would handle the complexities and uncertainties that fintech startups often face in their dynamic environment. Entrepreneurs in fintech are visionaries, problem-solvers, and risk-takers who thrive in dynamic environments. Candidates who can embody these qualities and demonstrate their ability to innovate, adapt, and create customer-centric solutions are highly sought after in the industry.

Challenges in Launching FinTech Startups Interview Questions

Case Study 1 : You are a co-founder of a fintech startup aiming to disrupt the traditional banking sector with a digital lending platform. The company’s goal is to provide affordable loans to underserved populations. However, you face several challenges during the launch phase.

Question 1: What is one of the primary regulatory challenges your fintech startup might face when launching?

A. Setting up a user-friendly website

B. Obtaining a banking licence

C. Raising venture capital

D. Creating a marketing strategy

Answer 1: B. Obtaining a banking licence

Explanation 1: One of the primary regulatory challenges when launching a fintech startup in lending is obtaining the necessary licences and adhering to financial regulations.

Question 2: Your fintech startup faces competition from well-established traditional banks. What is a strategy to gain an edge in the market?

A. Launching an aggressive marketing campaign

B. Offering loans with higher interest rates

C. Focusing on personalised customer service

D. Reducing lending options

Answer 2: C. Focusing on personalised customer service

Explanation 2: To gain an edge over traditional banks, fintech startups often emphasise personalised customer service, which can be a differentiator.

Question 3: What is a key technology challenge when launching a fintech startup like yours?

A. Achieving seamless integration with legacy banking systems

B. Creating a diverse portfolio of lending options

C. Raising initial funding

D. Implementing marketing strategies

Answer 3: A. Achieving seamless integration with legacy banking systems

Explanation 3: Integrating with legacy systems can be challenging, as it requires ensuring compatibility and data security.

Question 4: How can your fintech startup address the challenge of raising initial funding?

A. By avoiding venture capital and solely relying on revenue

B. By exploring crowdfunding options

C. By taking out substantial bank loans

D. By not addressing the issue, as it’s not relevant

Answer 4: B. By exploring crowdfunding options

Explanation 4: Crowdfunding is a viable option for fintech startups to raise initial funding and gain investor interest.

Question 5: In the context of launching your fintech startup, why is it essential to have a robust business continuity plan?

A. To maintain complete secrecy about your business operations

B. To navigate regulatory challenges

C. To ensure uninterrupted service in case of disruptions

D. To minimise customer service interactions

Answer 5: C. To ensure uninterrupted service in case of disruptions

Explanation 5: A robust business continuity plan is crucial to ensure that your fintech startup can provide uninterrupted services even in the face of disruptions or challenges.

Challenges in Scaling FinTech Startups Interview Questions

Case Study 2 : Your fintech startup has successfully launched and gained significant traction in the digital lending space. You are now focused on scaling the business to reach a wider audience and offer new financial products.

Question 1: What is one of the key operational challenges when scaling a fintech startup like yours?

A. Increasing server capacity to handle growing user traffic

B. Identifying potential competitors

C. Reducing customer support services

D. Decreasing marketing efforts

Answer 1: A. Increasing server capacity to handle growing user traffic

Explanation 1: One of the key operational challenges when scaling a fintech startup is ensuring that your technical infrastructure can handle the increased user load.

Question 2: As your fintech startup expands internationally, what is a significant regulatory challenge you might face?

A. Language barriers with customers

B. Raising venture capital

C. Developing new marketing strategies

D. Adapting to local regulations and compliance requirements

Answer 2: D. Adapting to local regulations and compliance requirements

Explanation 2: Expanding internationally often involves navigating complex regulatory environments, which can be a significant challenge.

Question 3: What is a strategy to enhance customer trust and security as your fintech startup scales?

A. Reducing customer support hours to cut costs

B. Prioritising data security and privacy

C. Minimising transparency in financial operations

D. Offering higher interest rates on loans

Answer 3: B. Prioritising data security and privacy

Explanation 3: Emphasising data security and privacy is a strategy to enhance customer trust and security, which is crucial for scaling fintech startups.

Question 4: What is the importance of partnerships and collaborations when scaling your fintech startup?

A. They are irrelevant and can hinder growth

B. They help access new markets, technologies, and customer bases

C. They only add complexity to the business

D. They are primarily for marketing purposes

Answer 4: B. They help access new markets, technologies, and customer bases

Explanation 4: Partnerships and collaborations play a vital role in scaling by providing access to new opportunities and resources.

Question 5: In the context of scaling your fintech startup, why is it important to continually innovate and diversify your product offerings?

A. To increase operational costs

B. To maintain a static customer base

C. To respond to changing market demands and stay competitive

D. To reduce revenue

Answer 5: C. To respond to changing market demands and stay competitive

Explanation 5: Continual innovation and diversification are essential to adapt to evolving market needs and remain competitive while scaling your fintech startup.

Opportunities in Launching Startups Interview Questions

Case Study 1 : You are a co-founder of a fintech startup aiming to launch a new digital payment platform. Your platform offers a unique feature that allows users to make payments using voice commands. This innovative idea presents both opportunities and challenges.

Question 1: What is one significant opportunity in launching a fintech startup with a unique feature like voice-activated payments?

A. Meeting traditional banking norms

B. Addressing existing competition

C. Tapping into an unexplored market segment

D. Streamlining regulatory compliance

Answer 1: C. Tapping into an unexplored market segment

Explanation 1: Launching a fintech startup with innovative features like voice-activated payments presents an opportunity to tap into a previously unexplored market segment, potentially gaining a competitive edge.

Question 2: How can you leverage data analytics in the context of launching your fintech startup?

A. By ignoring data analysis due to its complexity

B. By making data-driven decisions to improve user experience

C. By solely focusing on traditional market research

D. By outsourcing data analysis to third parties

Answer 2: B. By making data-driven decisions to improve user experience

Explanation 2: Leveraging data analytics enables your fintech startup to make informed decisions to enhance user experience and refine product offerings.

Question 3: What is a potential advantage of adopting cloud-based infrastructure for your fintech startup’s digital payment platform?

A. Improved scalability and flexibility

B. High initial infrastructure costs

C. Limited scalability

D. Minimal data security

Answer 3: A. Improved scalability and flexibility

Explanation 3: Cloud-based infrastructure offers improved scalability and flexibility, allowing your fintech startup to adapt to changing demands and opportunities.

Question 4: How can your fintech startup benefit from partnerships with established e-commerce platforms?

A. By avoiding any partnerships to maintain independence

B. By reducing the need for marketing efforts

C. By tapping into a broader user base and cross-promotion

D. By solely relying on venture capital for growth

Answer 4: C. By tapping into a broader user base and cross-promotion

Explanation 4: Partnering with established e-commerce platforms can provide access to a broader user base and cross-promotion, fostering growth opportunities.

Question 5: In the context of launching your fintech startup, what role does customer feedback play in identifying opportunities for improvement?

A. It’s irrelevant, as startups should focus on their original vision.

B. It’s essential for understanding user needs and refining the product.

C. It’s primarily for marketing purposes.

D. It’s not necessary, as industry trends provide all the insights needed.

Answer 5: B. It’s essential for understanding user needs and refining the product.

Explanation 5: Customer feedback is crucial for fintech startups to understand user needs and continuously improve their offerings, thereby identifying growth opportunities.

Opportunities in Scaling Startups Interview Questions

Case Study 2 : Your fintech startup, specialising in digital lending, has experienced significant growth and is now seeking to scale operations. As you consider expansion, new opportunities and challenges emerge.

Question 1: What is a potential advantage of expanding internationally as your fintech startup scales?

A. Increased competition from established players

B. Access to new markets, customers, and revenue streams

C. Simplified regulatory requirements

D. Reduced need for strategic partnerships

Answer 1: B. Access to new markets, customers, and revenue streams

Explanation 1: Expanding internationally opens opportunities to access new markets, customers, and revenue streams, driving growth for your fintech startup.

Question 2: How can your fintech startup capitalise on advancements in artificial intelligence and machine learning while scaling operations?

A. By avoiding the complexities of AI and machine learning

B. By using outdated technology to reduce costs

C. By leveraging AI and machine learning for improved decision-making and automation

D. By focusing solely on traditional financial practices

Answer 2: C. By leveraging AI and machine learning for improved decision-making and automation

Explanation 2: Utilising AI and machine learning can enhance decision-making, automation, and efficiency, which are critical for scaling fintech operations.

Question 3: What role does diversifying your product offerings play in the context of scaling your fintech startup?

A. Diversification is irrelevant and adds unnecessary complexity.

B. Diversification can minimise risk and attract a wider user base.

C. Diversification is solely for marketing purposes.

D. Diversification should be avoided to maintain a simple business model.

Answer 3: B. Diversification can minimise risk and attract a wider user base.

Explanation 3: Diversifying product offerings can help your fintech startup minimise risk and appeal to a broader user base, contributing to growth.

Question 4: What potential opportunities can strategic partnerships with traditional financial institutions bring to your fintech startup as it scales?

A. Access to established customer bases and infrastructure

B. Decreased regulatory scrutiny

C. Increased competition from traditional institutions

D. Reduced need for technology innovation

Answer 4: A. Access to established customer bases and infrastructure

Explanation 4: Strategic partnerships with traditional financial institutions can provide access to established customer bases and infrastructure, facilitating growth opportunities.

Question 5: How can your fintech startup take advantage of the trend toward cashless transactions while scaling?

A. By avoiding cashless transactions to focus on traditional payment methods

B. By solely relying on traditional marketing strategies

C. By embracing cashless transactions to attract modern consumers

D. By neglecting digital payment innovations

Answer 5: C. By embracing cashless transactions to attract modern consumers

Explanation 5: Embracing cashless transactions aligns with the trend toward modern payment methods and can attract a wider consumer base, contributing to your fintech startup’s growth.

The post Financial Technology Startups: Interview Situational Questions and Entrepreneurial Mindset appeared first on Vskills Blog.

In our daily lives we spend a major part of our days communicating. We need to communicate in order to be heard and to be understood by others. In the business world the act of communication forms the basis of the workings of the system and is therefore needed to be refined and proper. Poor communications skill not only creates problems in the workspace, it also proves as a barrier for individuals on job hunts. Therefore, one must have good communication skills to survive in the business world and here comes the role of business communication.

What is business communication?

It is impossible for a business organization to function without constant movement of information and feedback, business communication is the mechanism and means by which this information flows along different departments of the organization. It includes all forms of communication that is, reading, writing, speaking and listening.

As an employee or an employer, one must be a part of the larger organization which can only function with some form of communication and that requires skill and eloquence. Most people feel that the simple act of communicating does not require any special attention, even in their workplace. However, when looked at closely the intricacies of the various levels of communication in companies and business organizations often proves challenging.

Why effective communications skills are important?

Exchanging information

Communication is essentially the exchange of information between two or more parties. Business exchanges can be external and internal. Internal communication deals with the staff, it could be in meetings or through written messages (emails, documents, etc.) while external communication deals with clients, suppliers and other business.

Teamwork

Communication does not just involve conveying message and information, it also involves being an active listener and understanding the message being conveyed. For a project to work smoothly and successfully the ability to collaborate and cooperate as a team plays an important role. Effective business communication helps promote understanding and build trust between colleagues, an important part of working as a team.

Preparing and executing plans and policies.

To form sound and realistic plans and policies all the relevant information is needed, this information is collected through different sources by communicating. Managers find reliable sources and information through the tool of communication. Effective Communication also helps get the feedback needed to bring changes to the existing policies and to express views on the new upcoming policies.

Timely execution of these policies and plans also needs communication, organizations rely on communication to disseminate information about the plans and decisions to the various departments. One example of this are the minutes prepared for each meetings, it helps inform the workers of what was decided on the previous meetings and how far has it been implemented.

Increases productivity and efficiency

With the help of communication, the tasks and objectives of an organization, their plans, policies, rules and other complex matters can be explained to the employees helping them to broaden their knowledge about the project they are working on and thus be more efficient in their work. Communication also helps build the trust between the employer and employee which leads to better workplace environment and a general trust and belief in the voice of the managerial figure encouraging the employees to be more productive and efficient.

Secure workplace environment

An organization with good communication at all levels also has a more satisfied workforce and healthy workplace atmosphere. Communication helps the lower levels of the organization to be at ease with the authorities leading to a healthy relationship where they can voice their issues and raise concerns without any hesitation. This creates less chance of misunderstandings between the workers and helps avoid any internal conflicts. It also proves as a good tool for the authorities to get feedback and hear the views and arguments of all the employees, it promotes an open door policy that encourages the hierarchy of the organization to communicate among themselves and work smoothly as a team.

Improving external relations (with clients and other businesses)

Good relation with the clients and other business ventures is always desired for a business organization. Effective business communication skills helps build a healthy reputation and trustworthy relation with the clients, thus promoting the business and helping it grow.

Publicity and advertising

In today’s competitive market, good publicity and advertising is of utmost importance. The better the communication skills of an organization, the better its reputation and the better numbers it has in its sales. Communication also helps remove any controversies that might circulate around the organization as it allows for a smooth flow of information among the parties involved and any disagreement can be resolved easily with good communication.

Having looked at the various advantages of good and effective business communication, let us look at some ways you can improve your communication skills.

Ways in which you can improve your communication skills

• Be a good listener.

Good communication is a two way street and can only flow when the meaning of the words is grasped properly. When someone is talking to you they expect to be heard and have your undivided attention. Do not be distracted by things around you and keep your attention on the speaker. Give voice to any misunderstanding. Do one thing at a time, one conversation at a time.

• Know your audience.

Know the language and attitude to use in formal and informal situations. When talking to a client or your boss the conversation has to be strictly formal. Watch your body language.  Target your message in accordance with the audience, keep the person you are speaking to in your mind and approach accordingly.

• Empathize.

Be understanding of the needs and issues of the person you are speaking to. Put yourself in their shoes and try to approach the problem keeping with unbiased mindset.

Treat everyone equally.

• Be positive in your language.

Try using positive words instead of negative ones. Be optimistic in your approach. Be open to different ideas.

• Be concise and specific.

Try to avoid confusing speech. Be specific and state your position openly. Keep the words concise and don’t go beating around the bush.

• Think before you speak.

Most of the time impulsive actions and words are not genuine and yet create the most conflicts. So take your time and think before you say anything. Read your messages before finally sending it.

There are many ways in which you can improve your communication skills, just keep in mind the two actions involved, that is, of listening and conveying your message clearly. Practice makes perfect, so practice communicating openly with people in all spheres of life.

Good communication is an asset useful not just for the purpose of business but also for interpersonal relationships. It will not just help you stay at the top in your business profile, it also helps build confidence and improve social skills.

The post Business Communication – Why You Should Master the Skill of Communication appeared first on Vskills Blog.

Leadership can be understood as the ability to instigate motivation amongst others that results in the improvement in the quality of the work. Leadership is a trait necessary for an executive to influence the attitude of the worker towards the work thereby influencing the overall efficiency of the work itself. One can define leadership as the capacity of an executive to enhance the degree of accomplishment of certain goals. Positivity, confidence, and willingness are some responses that leaders bring forth in their subordinates.

Due to its abstractness as a quality, it can’t be achieved in a fortnight. However, its presence does make substantial changes in the quality of the work, work environment, and the overall organization. The purpose of leadership for any manager or any other authority figure is to help their teams or subordinates to realize and visualize a well-defined objective. This realization and encouragement carry out the fulfillment of goals.

Leadership traits

• Leadership is the effective communication and professional rapport managers engage in influential tasks for accomplishing business goals.
• Leadership definition incorporates the intermingling of various other traits like emotional intelligence, communication skills, maturity, etc.
• Leadership cannot be practiced at an individual level. It is important that there be interactive engagement amongst a group of individuals.
• Efficient leaders are conscious of their resource disposal and its inherent management.
• There is no singular approach to leadership. Innovative methods and cost reducing ideas are acceptable so long as they are adept to maximizes the efficiency.
• It is crucial that employees are provided with the necessary information and insight in order to realize and implement the vision.
• Conflict management and problem-solving abilities are innate to the duties of a leader.
• Leaders need creative thought processes for crisis management and tackling emergent issues.
• Leadership definitions are inclusive of development initiatives and organizational vision. Thus it requires the delivery of ideas and vision with clarity.
• Leaders need effective decision-making skills. So much so that they can take firm decisions in a difficult situation. Leaders must stand accountable for the decisions that they take.
• For the purpose of practicing leadership in a way that it works practically leaders delegate. Delegation invokes division of work, enhancement of the pace of work and accomplishment of goals.
• There is an inherent need for integrity within a leader and this quality is what makes them reliable and trustworthy in their work.

Importance of Leadership

The necessity and significance of leadership lie in the various activities that it instigates. It is functional in multiple aspects of work. Some of which includes:

• CREATING POSITIVE WORK ENVIRONMENT: Leadership is about creating holistic work environments wherein every employee finds growth opportunities. Managers can’t merely be authority figures who aim to get the job done but ones who provide guidance to all. They need to be engaged at the level of the individual to identify with the problems of their employees and find functional solutions.
• COORDINATION: Leaders are visionaries who ensure that the individual level work has the capacity in it to contribute to the overall organizational goals and purposes be it in a direct or indirect manner. Thereby leadership is important because it ensures an alignment in the individual goals with that of the organizational goals.
• SUPERVISION: Leaders by definition are supervisors but their work involves the task to recognize the strengths and weaknesses of their subordinates and in turn guide the employees in their respective work accordingly.
• UNDERTAKING INITIATION: Leaders are the ones who initiate the tasks after clarifying upon the strategies and approach to the work. They prioritize the work to be undertaken first and implement upon it.
• CRISIS MANAGEMENT AND MORAL SUPPORT: Leaders take in charge of a crisis situation and support their employees through the course of the problem. They do so by building trust amongst their employees and cooperation that ensures the accomplishment of goals despite the hurdles.
• CONFIDENCE BUILDING: Being honest about the requirements, expectations, and demands of the work undertaken can go a long way in building confidence amongst the employees towards the work. This works well at an individual level and at the level of the team.
• MOTIVATION: Leaders need to instigate inspiration towards the work that their employees undertake. A willingness and enthusiasm need to be incorporated. Leadership Definition finds motivation as its foundation quality and thereby leaders in any workspace build an inspired team of professionals under their supervision.

Understanding Leader against Manager

Managers are supervisors and authority figure who need to be leaders essentially. To define leadership as being a Manager, however, is to overlook the distinct qualities of leaders that make them stand out from the otherwise typical authority figure. While the employees merely follow the instructions of a manager, they are led by a leader and that is the distinction.

A manager performs the tasks of organizing, planning, staffing, directing and monitoring. This is fundamental to the job of the manager. To acquire the position of a leader, the manager needs to incorporate and practice the qualities of a leader.

Management alone can be an impersonal activity that is instructive and may not necessarily involve emotional quotient. The disengagement in building professional rapport amongst one another can cost the manager with problems. There can be miscommunication and issues that may be too difficult to resolve. However, Leadership is a way in which the followers feel free and willing to undertake tasks allocated to them. It is the ability to practice ideologies in a way that it remains impactful ever after decades.

Leadership by definition is a skill that needs to be internalized by regular and devout practice. So managers can become leaders. They may also be in the process of being better leaders in the professional sphere.

The task of management is such that it is mutually inclusive to leadership.

All in all, at the level of the individual, the definition of leadership is flexible and can be personalized depending upon the individual’s vision and beliefs.

It is a quality that channelizes improvement in all dimensions of one’s professional pursuits.

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Thus, the main objective of corporations is no longer profit maximization. In today’s age of corporate ethics development it is the responsibility of organisations to properly utilize the resources for the development of the community. There is a pressing need to focus on accountability on the part of corporations not only on what is important for the shareholders but the society as a whole. This is what has led to the emergence of Corporate Social Responsibility (CSR).

Corporate Social Responsibility is a model or form of corporate self-regulation whereby a company is responsible to itself, its stakeholders and to the community. According to CSR a business needs to incorporate various social, legal and environmental concerns in its operations and culture and be ‘socially responsible’. Mahatma Gandhi said that “Wealth created by the society has to be ploughed back into the society”.

The emergence of ethical business and social responsibility of business came from U.S.A. and Europe in the 1990s and 1980s from the campaigns run by pressure groups such as Friends of the Society and Greenpeace that are dedicated to protect natural resources and create a sustainable environment.

Indian lawmakers have also given due importance to the concept of CSR. In fact, India is the first country which has made CSR mandatory for companies in an amendment to the Companies Act, 2013. It is gratifying to know that a number of Indian companies have taken a step towards the development of the country. Some of these companies and their efforts are as follows:

Tata Steel Ltd.  Formerly known as Tata Iron and Steel Company (TISCO) was founded by Jamshetji Tata is an Indian multinational steel-making company headquartered in Mumbai, Maharashtra. Since its inception, the company has been a brilliant example of social responsibility. It was the first company in India to incorporate social responsibility towards its customers and the society in its Articles of Association and the first one to set up a social audit committee in 1979 for measuring social performance.

CSR EXPENDITURE OF TATA STEEL

Some of the CSR schemes undertaken by the company are as follows-

1000 SCHOOLS PROJECT

Tata steel had started the thousand schools project in September 2014 with the aim to revitalize primary education in six administrative blocks in three districts of Odisha, 5 of which are Educationally Backward Blocks (EBB).

The project is based on the Right to Education model and its core objectives include ensuring that every child gets primary education, improving the quality of education in government schools and improving governance of schools through School Management Committees and gram panchayats.

A press release by Tata Steel stated that the project has succeeded in making 68% of the habitations it covers in the six blocks child labour free zones. Moreover, 40,000 children have been helped to overcome their learning deficiency and about 1.5 lakh have been reached across of which 98,000 have been directly benefited. With the help of The Hans Foundation the programme is also being implemented in 2 blocks in Jharkhand, changing the lives of another 50,000 children.

PROJECT MANSI

Before its commencement, the Infant Mortality Rate in Seraikela was 60 per 1000 live births. The Neonatal Mortality Rate was also very high with children dying within 28 days of their birth. This was due to inadequate public health services and lack of awareness among the people. Also, the scattered villages in the hilly terrain made the region inhospitable.

In this project, training was given to the “sahiyas” in the field for maternal healthcare and newborn care to check newborn deaths. They were well equipped and graded according to their performance in the field. This project was unique and one of a kind in the sense that it overcame the terrain barriers and succeeded in empowering and developing a self- sufficient  Sahiyas who a pregnant woman could turn to in the time of need.

Over the period of five years the Neonatal Mortality Rate has been reduced by 61.2% and the Infant Mortality Rate by 63.1%. MANSI has been implemented in 1,686 villages of Jharkhand and Odisha and now covers 2.2 lakh households in that area.

MISSION 2020 FOR AGRICULTURAL DEVELOPMENT

Tata Steel has been working towards the mission 2020 for agriculture development to address poverty and food security issues by drastically increasing the income of poor farmers. The programme has been initiated with the objective to increase agricultural income of 7,000 households in the eastern state of Odisha. It aims to do so by increasing the efficiency of tribal farming communities by giving them skill base training and improving the productivity of the land through modern techniques of irrigation, wasteland development, horticulture and dry land farming.

For this, the formation of various self-help groups was critical. The programme also promoted women self-help groups to implement the project. The project was successful in converting monsoon dependent agricultural land to a three cropland through the establishment of irrigation systems. The project aims to convert 3000 acres of land to three crop lands thereby reducing dependence on rainfall and increasing the income sustainability. Apart from this, ponds and other irrigation facilities have been developed for the benefit of over 344 farmers. About 60 acres of wasteland has been brought under cashew, mango and lemon plantations in association with the National Horticulture Mission and approximately 500 farmers have benefitted from vegetable cultivation of 60 acres of land.

Coca-Cola India is one of the leading beverage companies of the country, offering its consumers a wide range of beverages. In 1977 they withdrew their operations from the country however, since their return in 1993 they have captured a large market share in the industry. The company is a staunch advocator of sustainable development  and has consistently worked towards solving issues of water supply, sanitation, environmental pollution and empowered women to stand up for themselves. The Coca-Cola Foundation, a subsidiary of the company was launched in 2007 and is dedicated to building sustainable communities across the country. It has already joined hands with the most prominent NGO’s of India such as Self Employed Women Association (SEWA) along with institutions such as IRRAD and FORRAD.

CSR EXPENDITURE OF COCA-COLA

Various projects undertaken by the company are as follows:-

ALAG KARO HAR DIN TEEN BIN

The project aims to sensitize the residents towards the objective of building an efficient waste management system through simple and easy solutions such as segregation of wet and dry waste and recycling. It was launched by the Coca-Cola Foundation in January 2017 in Gurugram in partnership with Tetra Pak, NGO Saahas and GIZ. The programme works in close coordination with the Municipal Corporation of Gurugram under its “open waste free” initiative. Gurugram creates approximately 600 tonnes of solid waste which is not being handled efficiently and thereby creating an adverse effect on the environment. If this waste is segregated at the source itself, that is at homes and offices it can be recycled and reused. The Ministry of Environment, Forest and Climate Change has mandated that waste is to be segregated into three categories i.e. wet, dry and rejected waste.

The project aimed to achieve the following:

• 9000 households in 60 selected areas had to segregate the waste at source.
• Collaboration with 50 schools and 50 commercial outlets to create awareness about waste management systems and recycling
• Reaching 150000 people by creating public awareness.
• Preventing waste from being dumped in landfills that is polluting ground water and eliminating burning of waste.

VEER

The “VEER” campaign has been undertaken by CCIPL in partnership with CNN IBN, The Being Human Foundation along with American Indian Foundation. It was formed to give the differently abled people of the country a chance to be heard and an opportunity to fulfill their dreams and ambitions. The major focus of the campaign was to provide these people with employment opportunities and create dignified livelihoods through skill training. It was in the form of a digital initiative with Salman Khan as its ambassador. It trained over 1000 PwDs and provided jobs to 573 Pwds within 15 months of its initiation.

SUPPORT MY SCHOOL CAMPAIGN

Support My School Campaign aimed to provide adequate sanitation amenities like washrooms and other facilities to educational institutions. Several institutions across rural India lack even the basic requirements that children must be entitled to because of non-availability of funds. This Coca-Cola NDTV campaign with its partners has not only build infrastructure at schools but also created a sense of ownership and responsibility among teachers. The teachers and management now take actions amongst themselves to solve obstacles such as power shortage. This campaign has created a difference in 3,72,919 lives across the country.

Mahindra and Mahindra is an Indian multinational car manufacturing company that was established in 1945 as Mohammad and Mahindra. It has presence in more than 100 countries and is employing over 2,40,000 people currently.

CSR EXPENDIDURE OF MAHINDRA AND MAHINDRA

Some of the company’s CSR initiatives are as follows

MAHINDRA PRIDE SCHOOLS

Since their inception in 2007 these schools have been empowering and educating youth from socially and economically weaker sections of the society to enable them to get employment opportunities. The schools provide end-to-end vocational training in the fields of Hospitality Craft, Sales, Information Technology Enabled Services and Retail Customer Management. There are 9 schools located across the country that have trained 26,647 students as of December 2017 and the job placement across all batches is 100%. In FY18, 41,687 students were also trained through Mahindra Pride Classrooms which provide 40-120 hours of training to final year students covering life skills, aptitude, English etc.

LIFELINE EXPRESS

The Lifeline Express or Jeevan Rekha Expess is the first hospital train of India that started in 1991. The company has regularly partnered with Impact India Foundation to sponsor Lifeline Express which provides communities in remote rural areas access to healthcare facilities. The lifeline express was started to provide on- the- spot diagnostic, medical and advanced surgical treatment for preventive and curative interventions. Over 91,000 people have benefited from this.

PROJECT HARIYALI

Launched on October 2, 2007 with the aim to add 1 million trees to India’s green cover every year this project has gained momentum with the stakeholders of the company who are undertaking the plantation drives across the country to surpass the annual goal of planting 1 million trees. They have succeeded in planting over 15 million trees in India to combat the problems of climate change.

SWACHH BHARAT SWACHH VIDHYALAYA PROGRAMME

Aligned with the government’s ‘Swachh Bharat Abhiyan’ the programme has been successful in constructing 4,597 toilets 1,171 government schools across 11 states and 104 districts. Besides maintaining the facilities for 12 months the Mahindra Group is also carrying about training programmes to bring about behavioural changes in girls, parents and school authorities towards more hygienic practices.

WARDHA FARMER FAMILY AND KRISHI MITRA PROJECT

This project supports small and marginal farmers by training them in effective farming practices including soil health, crop planning and creating models for farms with bio-dynamic farming practice with the aim of increasing crop productivity. The Krishi Mitra project was implemented by Swades Foundation and had the budget of INR 5.47 crores and benefitted 49,635 farmers.

PROJECT NANHI KALI

The project is jointly managed by Naandi Foundation and the KC Mahindra Education Trust. Its main objective is to provide 10 years of quality education to the girl child from economically backward section of the society. The founders of this project believe that educating girls will have a positive impact in the long run and will help abolish social evils like dowry system and child marriage. In FY18 the project supported 1,43,992 girls and 25 centers across the country through which young girls received training in finance, computer education etc.

Infosys is a global leader in next generation technology services and consulting that is currently headquartered in Bengaluru. Infosys Foundation was established in 1996 as a not profit trust to support the company’s initiatives. The foundation is devoted to the cause of the destitute, the rural poor, the mentally challenged and the economically backward sections of the country.

CSR EXPENDIDURE OF INFOSYS LIMITED

BIOMASS COOK STOVE PROJECT

Infosys has consistently directed its efforts to reduce environmental pollution. To achieve its objectives the company provided biomass cook stoves to 37,200 families in the Gangam district of Odisha, a project that contributes to 11 out of the 17 United Nations Sustainable Development Goals. These cook stove use 50% less firewood and burn smoke free. These stoves address the household health problems that were caused due to smoke and contribute to climate change mitigation by reducing CO₂ emissions by 2 lakh tonnes. The company is also going to help to maintain these stoves to ensure effective use of them for several years. This programme was later introduced in the Kopal district of Karnataka also.

MID DAY MEALS

The company believes that a hungry stomach has a direct correlation to drop-out rates in Government schools. In partnership with Akshaya Patra Foundation the company has constructed a mega centralised kitchen at Kandi Village to provide mid-day meals to over 1 lakh students in the region and cater to the needs of Anganwadi children.

RURAL DEVELOPMENT PROJECT

The Infosys Foundation works with the local administration of cities to undertake rural development  projects such as construction of road, drainage facilities and providing electricity. The foundation has donated INR 40 crore for rural development and livelihood projects such as spreading awareness about sanitation, hygiene, vocational training and entrepreneurship.

ITC Limited is a multi-business conglomerate that has a presence in the fields of FMCG, paperboards, packaging, hotels, IT and agriculture business. The company has made extensive contribution to the national cause of livelihood creation and has helped empower farmers and educate rural children, thereby increasing rural income.

CSR EXPENDIDURE OF ITC LIMITED

SOCIAL FORESTRY

The ‘greening of wastelands’ initiative of ITC that it seeks to achieve through Social Forestry Programme has covered 2.95 lakh acres of land in about 4,900 villages and impacted over 1,09,000 poor households. This is a part of Social and Farm Forestry initiative that has planted trees in 6.83 lakh acres to date and generated employment for 124 million people. Additionally, the initiative has also led to the regular availability of fuel wood and pulpwood in Andhra Pradesh and contributed meaning towards creating carbon sinks for tackling climate change.

WOMEN EMPOWERMENT PROGRAMME

ITC’s believes that economic development of women transforms them into powerful agents of change. Women are provided with financial assistance and vocational training so that they are employable. ITC also aims to enhance marginal female farmer’s knowledge about modern agricultural practices and make agriculture more inclusive. The company targets Ultra poor women with the objective of mainstreaming them socio-economically over a period of time. It has been successful in generating sustainable economic livelihood opportunities for 61,000 women and 21,000 ultra-poor women have access to sustainable sources of income through non-farm activities.

PRIMARY EDUCATION

ITC’s primary education programme aims to address the inferior quality of education and training provided in schools in rural areas. To strengthen these schools it aims to reduce the number of dropouts, increase the enrolment rate and improve learning techniques. Under this programme ITC provides infrastructure facilities to government schools ranging from classroom equipment to sanitation and health facilities. The Reach India Plus initiative was introduced in partnership with Pratham NGO in 2011 to help children between the ages of 6-14 to read, write, listen and speak. The programme reached 46,891 children during FY18 and 5.70 lakh children in total.162 government primary schools were provided infrastructure facilities and 351 school management committees were strengthened.

HEALTH AND SANITATION

Rural India has been facing he herculean task of eliminating the practice of open defecation.  It is a serious problem because it pollutes the environment and causes various health problems. ITC’s Health and Sanitation initiative addresses this grave issue by building low cost family owned washrooms in the catchments of its manufacturing units located in rural areas. Intensive awareness generation programmes that are specifically designed for the target audience combined with compulsory contribution from the participating families ensure sustained usage levels of constructed toilets. The programme has been successful in constructing about 32,000 low cost sanitary units till date.

WELL-BEING OUT OF WASTE INITIATIVE (WOW)

ITC’s waste recycling and resource conservation project WOW was developed to create larger environmental and societal value through collaborative action. The programme has been executed in major cities across the country including Hyderabad, Delhi, Bengaluru and Chennai. 50,196 tonnes of dry waste has been collected from 562 wards. The programme has reached 77 lakh citizens, 33 lakh school children and 2000 corporates since its commencement and has provided employment opportunities for 14,500 waste collectors.

CSR is gaining momentum in India and now is an integral part of businesses. India’s top 100 companies fully disclose their CSR initiatives in their annual report and spent more than the prescribed value on CSR activities. Maharashtra, Uttar Pradesh, Tamil Nadu, Karnataka and Odisha account for 32% of all CSR initiatives underway in India. The total expenditure on CSR increased from INR 4,708 crore in 2014-15 to INR 7,424 crore in 2017-18. These CSR initiatives are a major driving force for collaborative growth and development at business and societal level but the country’s most backward districts are still deprived.

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It possesses a huge opportunity to build and promote a brand, as the target audience you want to reach is present on this platform. Out of the total Instagram users, 68% are females. 6 out of 10 adults have Instagram accounts and 72% of teens use Instagram.

So, what strategies we should adopt to build our brand on Instagram?

Create a simple & clear profile

Your Instagram business profile is the face of your brand. The key areas to be focused are:

• profile picture
• profile description
• URL link.

Profile Picture

It should be of good quality, clear, related to your business and fits into frame. If you use a logo as profile picture, make sure it is same as on your website or any other platform. Users recognize a brand with picture.

Profile Description

Owing to 150 characters’ limit, it is important to tell visitors who you are, what values you follow and what they expect to experience when they follow you. It is always better to be concise. Use bullet points to explain your profile; Don’t write paragraphs. Keywords are a plus- highlight them. Be sure that the description is connecting with the expectation of the audience. A poor description can not only disconnect the audience from your brand, but also ruin your brand. Lastly, add your website link or email address (in hyperlink, it acts as a call to action button), as it helps your followers to get in touch in a professional manner, if required (in case direct message option is missed out).

URL

Try to keep it simple and easy to remember.

Facts: 72% of users have bought a product they saw on Instagram. On an average, users spend 53 minutes a day on the Android Instagram app.

Create right content

It is the most important for a brand. Think twice before creating a content. To do so, write an objective you want to achieve by this post. Design a user friendly, bright, colorful content. Content is the king. Posting breathtaking images, editing with fun filled image editors, posting one-minute loop videos, slow-motion videos, adding locations are some of top features that Instagram provides. Use canva.com to create content (posts and stories), it will help you enhance your posts. You can use pre available background image or can create your own. It is quite simple and easy.

Facts: Till now, more than 50 million photos have been uploaded on Instagram. User generated content has 4.5% Higher Conversion Rate. Photos with faces get 38% more likes and posts with location gets 79% more engagement.

It will be wise to write less and in bullets in pictures, rather write in description. Even while writing description, try using compendious sentences that relate to your audience very well. Add relevant keywords to the description that are related to your business and brand’s objective. It also increases reach of your post.

You can use the same content on other social media channels like Facebook, Pinterest etc.

Relevant hashtags

If you want to get noticed on Instagram, use of hashtags are very important. You can research top hashtags that are in sync with the post you want to publish on Instagram. It helps to link the subject of the photo/video to other Instagram content with same theme. Try to use 4-5 sets of different hashtags, and in each set 11-15 hashtags are sufficient. Though there is no hard and fast rule but too many hashtags will lose the impact and message of the post connected with them. Also, it makes a brand looks amateur.

You can use www.hashtagify.com to see relevant hashtags for your posts. All you have to do is add one hashtag in search option and tool will generate other popular hashtags related to it. Post that, you can decide which all hashtags you want to add in your posts for your campaign.

Facts: 7 out of 10 hashtags on Instagram are branded; post with at least one hashtag on an average has 12.6% more engagement.

Create Instagram Stories

Instagram introduced this feature in August 2016.Instagram stories is not only important, but also unique. The story features for next 24 hours and then disappears. It is shown on top of Instagram account. This will help you to track who visits your story and how frequently. You can also get the name of viewers that can be later used for creating a dynamic remarketing campaign for the selected few.

You can add stories to appear on your profile as highlights, even after they disappear.

Note: Even after the original story has disappeared, highlighted stories remain visible as highlights, until you remove the. Keep in mind that those you’ve allowed to see your story can also see your highlights.

You can even archive your stories for future reference. Only you can see the stories saved in your archive after they disappear from your story. If you delete a photo or video from your story before it disappears, it won’t be saved to your archive. So be wise while deleting. You don’t have to save manually as it automatically archives.

500+ million stories are published daily– Up from 300 million in October 2017. Most brands (2 million brands) are telling their stories with Instagram stories. One of every 10 stories on Instagram is created by brands. This clearly states that stories, unless copied, works for brands.

Facts: In 2018, around 71% of US businesses were on Instagram. Instagram has more than 1 million monthly advertisers and 8 million Business Profiles. 55% of Influencers use Instagram Stories for Sponsored campaigns.

Live broadcast streams and videos

Videos or live videos accelerate like and trust factors that compel Instagram users to become potential customers to make an investment in your brand and product. Videos are good means of storytelling. Which can be prerecorded or live streamed.

Instagram videos is a short snippet you want to share with your audience. The video will automatically share on your Instagram story feed. You can edit videos in black and white, chrome and sepia, which adds more creativity into your feed.

Live video is an exceptional method to discuss your business. It also helps you to understand what queries does your client is facing and doubts about your product. It helps you to solve their problems instantly and convince them to follow your brand or make a purchase. Unlike Instagram stories you can add it to your Instagram story option by clicking share. It lets users to know: why they should come and visit your page. It helps to increase followers and drive high user engagement, building trust. Live videos are an incredible business blessing or act as a super hero.

Unlike stories Live streams videos cannot be archived which is both good and bad. It creates a sense of urgency in users that if he/she don’t connect, then they might lose something very important information. It is very authentic by its nature.

Many celebrities and influencers also use it to showcase their reach and importance. Facts: every year, there is an increase of 80%. Users love their video posts, right from the start. In 2013 when the feature was launched, 5 million videos were uploaded in first 24 hours. Although it is not a thumb rule, you have to evaluate depending on business too.

Posts regularly

It is very important to post about or product or services regularly. If you don’t post regularly, there might be chances where people forget about your brand and shift to your competitor because they post regularly. Since Instagram users recognize their brand, you might lose the market share.

You can post daily or 2-3 times a week depending on your business objectives and needs. According to me, posting 2-3 times a week is a good option, since posting daily will irritate a viewer too. They might scroll down ignoring your campaign. But again it totally depends on your business requirements. On the contrary, if you are running a campaign for upcoming special occasion such as Holi, then maybe daily posting will be an add on. This is only a suggestion. Again telling it is totally optional and business oriented.

Now question here is, how to do it? Everyday posting a post is a task, creating fresh ideas and posting it daily is a challenge. You work on 2-3 post at a time about various products you have and objectives behind it. For this you can use www.canva.com, as we discussed this earlier (it even helps suggest you different ideas depending you prior templates history). After that you can use software’s like Hootsuite for scheduling your campaigns. You can choose which campaign to be posted on which date, day and time. And plan your campaigns accordingly. You can use Hootsuite for other scheduling other social media planning. But here you have to be sure that you must login same Instagram account which you use in Hootsuite.

You can also download the Hootsuite app on your phone too, there is no need to go and open a desktop site. When you send or schedule to your Instagram profile from Hootsuite, a reminder notification is sent to your Hootsuite mobile app when the post is ready to publish. From the notification you can easily publish the post via Instagram.

Similar to Facebook, Instagram to allow you to post sponsored ads (paid ads). This feature also helps a brand to increase its reach depending on your budget to spend.

Facts: Having said that, Instagram did start sponsored ads for big brands like Nike, General Electric, and Walt Disney and they certainly make a portion of their ad revenue from Instagram.

Stay responsive

Stay connected with your followers is very important. It gives you a fair idea how your brand is performing and which areas you need to improve. Regular posting is one thing and interacting with them is another. If you keep on posting the ads and posts and responding to the customers, then also there are chances that you might lose your market share. People will start telling bad about your brand and your brand value will decrease. Responding to your followers and following back who are important, is very necessary.

You can position your brand as engaging only if you are responding to your followers or users. You appreciate them if praised and if they angry, apologize and try to resolve their problem. But again, addressing them is must. This will help you to attract new ones by tapping user generated campaigns. Big brands are also spending time on social media platforms to engage with customers and resolve their problems. If you are a start-up, then also it’s a must to spend at least 2-3 hours a day to respond on social media.

Recently, I was going through my Instagram account, I saw a sponsored ad by a salon services brand posting few discount services, and in comment section there were lot of people who were not happy with the prior services and hidden charges. This campaign was running since 2-3 days and nobody in the company has addressed even one customer, good or bad. Being a new to this brand I might probably not go for this company’s services. Hence, opportunity of upcoming business is lost. There are so many other users will be there who thinks same like me. Therefore, it is very important to stay responsive and connected with your followers.

Try multiple ad campaigns

Don’t hesitate in trying new strategies in different ads. Also, don’t rely on one campaign. Try to build more than one campaign for a particular objective. And try A/B testing. It means try to test all the ads/posts you had made simultaneously. Also, try to run those ads at different intervals of time and days. There might be changes if one ad will not perform the other ads will outreach. Therefore, you to keep testing which ad helps you in getting the response of the users. A/B testing helps you to cater aspects like frequency of posts, time of day your which ad is showing, popular hashtags, offbeat captions, and calls to action.

A very good example related to this is: During IPL season 2, Vodafone created a series of 30 different ads showing zoo zoos at different ad breaks. Idea behind it was to engage as much as possible. Because of the multiple different ads, it was easy to catch the eyes of the viewers. The viewers were not bored seeing them. This helped them in solving the engagement problem. So is the case with multiple campaigns in Instagram. It will help you to become experienced brand from an amateur one.

Another very good example is Myntra.com, a fashion ecommerce company started different memory games to attract customers to its “end of reason sale”. They showcased different ads and in their ads visitors had to locate the brands. After completion they will get some points which can be redeemed in their end of reason sale.

Follow the influencers

For massive reach you should follow the influencers, celebrities depending upon your business. Follow the trending posts and keep an eye on what’s going on in the market. Keep a close watch on competitor’s business strategy and ads. Then compare how you can improve and take an advantage.

There are various reasons why you should follow an influencer or prefer paid influencers. Some of them are as follows: A. people trust them, they follow them and make decisions on their advice. B. due to increase in social media activities they listen to celebrities and opinion leaders, they are more interactive and have similar way of thinking. C. Influencers are itself a brand. So associating with it or following them will add a point extra in your brand building.

“A brand is no longer what we tell the consumers it is- it is what consumers tell each other it is.” (Gensler, Völckner, Liu-Thompkins & Wiertz, 2013).

Facts: 78% of the Influencers prefer Instagram for brand collaboration. The most popular Brand on Instagram? National Geographic, with over 91 million fans. With Christiano Renaldo, Beyoncé, and my favourite, Dwayne Johnson, the Rock—all between 141 and 115 million Instagram groupies.

Incorporate user generated content

This approach is slightly different from creating right content. Content is king that’s true but people are bored of seeing a boring pictures of product. They want to see fresh content and if it is a user generated content it is like cherry on the pie. This approach is not limited to specific time frame or single user. It is you asking your user to share pictures or videos of them with the product or sharing of their experience with the product. Your followers are much likely to interact with your brand on social media if you not only respond to their tags but, also share their brand inspired content with your other followers.

This kind of user generated content is more followed or preferred due to its authenticity. These content creators have no monetary incentive to share their experience in brand related content. They are simply sharing their experience and helping others to make a decision. You can also ask them to add a relevant hashtag/ hashtags which is only associated with your brand.

Encourage your followers to post their content by providing an event or asking them to answer how they incorporate your brand in their daily lives. Ask them to tag your brand or use the specific hashtags. You can later post their success stories on your timeline or website or you can give them a cash prize or vouchers for the few best one.

For example: Airbnb is a trusted community for people to list and discover their unique accommodations around the world. In 2017, they used Instagram to encourage their followers to find out more about their services. They sell an experience, they used user generated photos and caption to paint a story behind each photo. They asked the users to use popular hashtag #WeAccept. This campaign received a mass engagement and the campaign was a hit.

If you are looking for ways to differentiate yourself on Instagram, consider tapping into topics in a creative way that matters to your following. Sometimes it is not about selling a product, being true to the brand and sharing things you are good at can also have a great impact. Such as National geographic has highest followers as told earlier, it is clear that their social media marketing strategy is right. They post a beautiful picture with a detailed caption explaining what this picture is all about and what its purpose. Because of this strategy they got two times more engagement than any other brand.

You have to be very careful with what you follow for building your strategy. This article will definitely help you in increasing your follower base and building a brand. To sum up, don’t forget to be simple, creative, true and engaging. Follow the instructions to build a strong brand.

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New Year’s resolutions cannot lead to a sustainable change in behavior because they are not built in a way that motivates and transforms motivation into action and change.

We must not lose weight, get to zero, exercise more, stop drinking so much and feel more gratitude. And because resolutions don’t work, they’re depressing inherently. An estimated 80% of resolutions are discontinued by February.

Make New Year’s resolutions and you’re set to feel like a fault, a loser, a faint person. And paradoxically, because you fail so quickly and thoroughly (have you ever decided to lose weight and then picked up a football match five hours later on a New Year’s Day?) you easily give up trying to change.

Resolutions for New Year typically involve one of three wishes.

• Wish to stop avoiding something
• Wish to stop doing something that makes you feel good (drinking, smoking)
• Wish to start doing something that doesn’t come naturally to you (reading, exercise)

Changing behavior and adding something new, unfamiliar are very difficult things to accomplish.

Why are the resolutions for New Year guaranteed to fail?

Your behaviors are not just simple habits

They are deeply rooted in complex psychological, social and neurocircuitry systems. Your behavior is a complex product of your personality and temperament, your various emotional and physical needs (both in the past and in the moment),

Avoidance

That is not something you want to do, anxious or uncomfortable (e.g if you having hundreds of emails in your inbox). You are immediately rewarded by a reduction in anxiety.

Giving up something

It is too difficult to quit something immediately, when you are addicted to it, (smoking, eating, drinking). How will you deal with the overloaded feeling at the end of the day that you want to relax with a drink or the feeling of deprivation that makes eating so pleasant.

The behavior you are having is difficult to change because they work for you at least for a short span of time.

Review and write your accomplishments

You’ll probably be surprised at how much you’ve accomplished. Try to write a long list, so that you feel happy about it, things you have learned, projects you have completed, connections you have made, do add your failure/loss as well.

Ambitious, career-oriented people, especially those with a commitment to entrepreneurship, always focus on the future.

• Next challenges
• The next networking meeting
• The next promotion

The next factor will always push you upwards.

Why goals are better than resolutions

A resolution is something whose main function is to punish yourself. It’s essentially not doable. So why should we take a resolution, when we are not sure about it. We should try to be more realistic, try to set a realistic goal and break the goal into small tasks and do set optimum time for that.

Start something doable

Like start your own blog, and try to write 2-3 a month, I think that is doable, and then later on make it 2-3 a week.

Feel of Accomplishment

Do enjoy your accomplishments, once you complete the task, don’t forget to enjoy, this will help you to accomplish other tasks.

The post Ditch your New Year’s Resolutions and Do This appeared first on Vskills Blog.

“An entrepreneur without funding is a musician without an instrument.”  -Robert A. Rice Jr.

Major problem faced by aspiring business owners, “idea exists but capital isn’t”.

Today’s booming startup world, though finding is seen as an obstacle numerous contemporary methods have been adopted by entrepreneurs

Recently, online lending services such as On Deck and Kabbage have become a popular alternative to traditional business loans. Speed is the advantage that these online lenders enjoy in comparison to the traditional lending methods. Starting from processing an application till issuing the funds would be done within days which is unimaginably adorable and flexible as well. In contrast, the traditional loan process can take months to complete. This technology or can be even meant as innovation has brought in a varied amount of change in business environment. Funding has been made so simple and easy through these online lenders. Hats off tot their idea and support that would have contributed a lot to the booming startup world.

Financing is no more a pain of you adopt  factoring or invoice advancing services for your business. You can sell your accounts receivables to a third party at a discount for immediate cash needs. Factoring is a methodology that Fundbox (small business cash flow Management Company) adopts frequently for its customers. Through this methodology, receivables are no more considered to be a drawback for your cash flow.

Presale is next big wave spreading among the startups. Selling your products before launch is a highly effective way to raise the money needed for financing business. Bittylab, manufacturer of air-free baby bottles benefits greatly from presales. Presales is being strongly adopted by IT and other service companies as well, where they get clients and customize their products or services as per their needs.

If you are blesses with a friend or relative who holds some spare cash and who can trust you in return, you have another potential way to finance your business. Borrowing from friends and family presents an interesting alternative to traditional forms of financing. The major advantages that one would gain through this method is no-interest payments, can stay away from bank contracts, can avoid queues and lot more.

The next method would be “double dipped”. Here comes a live example for it Problemio.com, a mobile app that guides to plan and run a business through 300,000 entrepreneurs was launched by putting in the revenue generated from Comehike.com.

Home equity loans are favorable as they are offered at comparatively low interest rates with better flexibility, though the home is under risk.

If you believe in luck then you get funded. Black & Denim was funded by winning a B-Plan contest.

To get a clear idea on startup funding, it generally has the following phases

• Angel funding
• Venture Capital
• Private equity
• Public equity

Angel funding is basically done by a group of angel funders who contributes or in better words invests their money into the startup which has just been born. The risk involved here is way too high as probability for instability is very high. The investors in this phase would also be engaged as a well-wisher or one of the board member for the start up. The funding obtained here would help the start up to initiate its activities.

The second phase would be venture capital, this stage would exist for 3 – 4 years. The risk involved in still high but less than angel investors. The funding obtained here would be help to commercialize the company’s activities and to start looking for profits.

The next phase would be private equity where the company would get into a position to own well-furnished financial statements. So, the risk habituated in this phase would be less as investors can analyze the company in terms of their statements. The investors will be able to forecast the company’s performance with a good amount of clarity.

The next phase would be public equity this is where company prefers to get listed and may opt for an IPO.

Funding & Deals

BlaBla Car, certified as Europe’s hottest startups obtained a funding of $200million. Bla-bla car has received a really appealing welcome from people as it would provide comfort at less cost to travelers.

Holachef enters the lucky list: Holachef is handpicked to be Ratan Tata’s 14th startup investment at undisclosed amount.

Amazon joins Indian startup stories: Amazon, the company that has spent more in advertisements in FY 2014 – 2015 in India has pitched its leg into Indian startup market by grabbing a minority stake around  in QwikCilver Solutions.  QwikCilver holds about 90% share of the gift-card market in the country. The company has been succeeded with 500% growth in past two years.

Infibeam to get listed: Infibeam is set to become the first e-commerce company to get listed in India. Infibeam has been approved by SEBI to raise Rs450 crore through IPO. This funding is being planned to be put in building a virtual retail marketplace “Buildabazaar and to create a cloud data center”

Click here for Government certifications in Finance

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Low cost Innovation is essential for India. India is a developing country and we keep on hearing this line  since decades . The reasons for being a developing country consider by the experts are :

• Population Explosion
• Limited Finance
• Unstable Government
• Lack of Resources
• Technology Backwardness

and so on …

People are the real wealth of a nation . India is enriched with or say talented people, then who is stronger in the world ? India or other countries like United Kingdom , United States etc. The matter of concern for Indian economy is that Indian government unable to utilize its human resource in a efficient manner . Around 30 % of our population living below poverty line .To attain sustainable growth India needs to focus on its Human Resources. this is the key for success and achieve sustainable growth .Sustainable growth is complex to achieve because it is regular in motion . Government needs to change the way they design their polices . the way they think and act and organize themselves . Government should design their ideas in a way that they should reach to all people in the country .

Low cost Innovation Projects 

• Switch to Traditional Medicines – In ancient times all the diseases were cured with Natural Herbs . it is our strong point . we should pay attention on Ayurvedic Medicines . this method is very natural and effective to cure disease. this will lead to less depletion of forest , people will grow more herbs , this makes our environment as well as our health. Allopathic Medicines should reduced from our society and promote Ayurveda outside the country also. Once we will able to provide proper relevance on traditional medicines then will lead to the attainment of sustainable growth .
• Education is basic requirement : India has achieved low in term of education . education is the development of personality around 10-15 % of our population is considered literate and the criteria for this – those who are able to write their names whether in Hindi or English.

For Govt certification and assessment

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“Cadabra” was the magical name that Jeffrey Preston Bezos, founder of Amazon, initially wanted to give to Amazon in 1994, but was dropped off as it sounded more like “Cadaver“, especially over phone. Even “Relentless” was thought upon to be this site’s name and amazingly you can find this name ending you up at Amazon itself now. Finally ending up with “Amazon“, on the most voluminous river of the world, Jeff Bezos always knew it wouldn’t just be a Book store but the largest name behind E-Commerce.

Jeff’s life always revolved around science and technology. After having graduated with two Bachelor of Science degrees in electrical engineering and computer science from Princeton University, he worked with Fitel, Banker’s Trust and D.E. Shaw and Co. But this didn’t suffice his intellectual needs, making him leave his well paying job as Vice President at D.E. Shaw and Co. to set a company that originally packing and shipping the online consignments in boxes from his two-car garage.

In the starting days, Jeff had a bell put up in the garage which rang every time a purchase was made using Amazon and all the employees used to gather around the screen to see who the customer was and if he/she was a known one. This served yet another purpose- encouraging employees and filling them with enthusiasm on every sale.

Amazon, launched back in 16 July, 1995 and with its twentieth year now, it’s still running miles ahead other E-Commerce stores with its USP and core competency– cheapest product, that too available online. Amazon.com sold its very first book- Fluid Concepts and Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought, by Douglas Hofstadter, in 1995. Success follows innovative ideas developing in the right path and Amazon proved this true within the very first month of launch. In a month’s span, it had its product sold in all 50 states and 45 other countries. And continuing to write history in golden words, it expanded from selling books to being a retailer of every product ranging from diapers to golf carts, within a small time span. To cut costs, Bezos even made the office desks out of cheap doors, which were referred to as Door Desks. They are still made and used all over the world.

One can now buy a kindle, download and e-book and even purchase the couch on which to sit and read the whole day, all with just a click. Yes, you guessed it right, this “one-click purchase” was the innovation brought in by Amazon. And how can one forget the Amazon Web Services (AWS) , the one that allows so many of our favourite firms to rent storage and processing power on “The Cloud” and not pay to build and run their own data centres.

Amazon Prime, launched in 2005, gives the annual subscribers many perks like unlimited Cloud Storage, Amazon Instant videos and many more. Adding to this list, same day delivery has also been started from May 2015 onwards. With its 40 million subscribers which is much more than Netflix’s domestic haul, Amazon remains to be the biggest retail even at the recession times since its inception.

E-reading was seen as a boon with the launch of Kindle in 2007. Maybe I miss the smell of old books a lot and the feel of paperbacks, but then undeniably Kindle revolutionized the reading methodology for the best. Kindle Fire, launched in 2011, gives stiff competition to Apple IPad by being of half the cost of the cheapest iPhone.

In 2000, its website had crashed when it was making $600 million per quarter. So it wasn’t a big loss on the site crash. But when the same happened in 2013, 40 minute crash down made the firm lose $120,000 per minute. This clearly shows the growth rate of Amazon which is much more than the growth rate of Google and eBay.

Amazon changed its logo many times. Current logo of it shows “We’re happy to deliver anything from “A” to “Z”, anywhere”, showing the smile with a dimple end at ‘z’.

Today, Amazon owns many other firms and is even funding a private space travel company known as Blue Origin. The founder and CEO, Bezos is also a donor of $42 million and part of his Texas land for the construction of an underground clock designed to work for 10,000 years and known as “The Clock of The Long Now”.

Hoping to see much more advanced technological Amazon trends with the onset of its 21st year after birth.

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A corporate image is the overall image of a corporation, firm or business in the minds of different people, such as customers, investors and employees. It is a primary and important task of the corporate department to maintain and build this image to accord with and facilitate the achievement of business objectives.

Corporate image helps firms to answer questions like “who are we?” and “where are we doing?” . It also allows consumers to have their sense of belonging with particular company of firm. It expresses us that where a particular firm stands in the market.

Corporate image provides a firm an identity with which it is known. It expresses the structure of a firm to its external shareholders and consumers. If a company or a firm has a good corporate image, more workers are even attracted towards that firm. It also gives a reason to workers to work more efficiently and properly to earn best name of their firm in the market.

The following four key brand requirements are critical for a successful corporate image strategy.

• Differentiation- In today’s highly competitive market, firms need to have a clear differentiation or reason for being. What they represent needs to stand apart from others in order to be observe, make an impression, and to finally be preferred. They need to gain customers trust with best quality.
• Relevance- Firms need to connect to with people that what they care about out in the world. To build up demand, they need to understand the needs and aspirations of their customers.
• Consistency- To ensure credibility with their customers, firms must be consistent in what they say or do. All the messages, all the marketing communications, all the firm experiences, and all of the product delivery need to be together and add up to something meaningful.
• Esteem– A firm that is differentiated, relevant and consistent is one that is valued by both its internal and external people connected with it. Internal people include employees and workers whereas external people include customers. Esteem is the reputation and fame a firm has earned by its efforts and experience.

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