Small Enterprise - June 2016

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EDITOR’S NOTE
www.smallenterpriseindia.com
EDITORIAL TEAM
Dojo Jose : Editor-in-Chief
editor@smallenterpriseindia.com
N Mahesh : Associate Editor
Dhanya Menon : Features Editor
Vaibhav A : Copy Editor
Sandeep Kumar : Sub Editor/ Deputy Editor
Babu S : Senior Correspondent
Design
Parithimal E : Senior Designer
SALES & MARKETING

Alok Srivastava : Senior Manager Advertising – Print,
Online & Events
Dear Readers alok@smallenterpriseindia.com
Manjari Gupta : Marketing Manager
manjari@smallenterpriseindia.com
The young India is thinking about dropping out from employers
MANAGEMENT
to start up. And start ups are laying foundation for a great India, Dojo Jose : Publisher & CEO
creating and making changes across sectors. dojo@smallenterpriseindia.com
Dr.K.J. John : Managing Director
The startup culture is truly happening in India- but Startups in FINANCE

India are facing challenges on different fronts and struggling to Jeykumar Samuel : Finance Manager
carve a name of their own- be it funding, technology, managing, CONTRIBUTORS

HR, taxation or process initiation. Provided all these, starting up Aayush Kumar : Delhi
Aditya Singh : Bengaluru
right is half done and is more important than just starting up Ankur Bhatia : Mumbai
with anything, however unique the idea is. Apart form the Gagneet Singh : Mohali
Itishree S : Hyderabad
bubbling energy, a big idea and infectious optimism, there are Jill Shah L: Ahemedabad
certain essentials to start ups should have andknow. Nandana Mohan : Bengaluru
Pooja Agarwal : Bengaluru
Nikita Peer : Mumbai
So what are the startup essentials? Read on this June issue of Mandeep Puri : NCR
Small Enterprise magazine. Rajesh Kumar : Kolkatta
Rekshma A : Chennai
Smitha Venkiteswaran : Goa
Happy Reading! Viraj Desai : Delhi
Abha Chopra : Delhi
COLUMNISTS
Warmly Smitha Hari : Mumbai
Akshatha Sajumon : Bengaluru
Rashida Khilawala : Ahemedabad
Chackochen Mathai : Chennai
Dojo Jose MAGAZINE SUBSCRIPTIONS

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Dojo Jose
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Editor-in-Chief, Small Enterprise Magazine.
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Publishers regret that they cannot accept liability for errors or omissions
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editorial items appearing in this publication are the copyright property of
Aspire Media Pvt Ltd. All rights reserved.
https://vk.com/readinglecture
I came across the magazine, a few Small Enterprise magazine has been
months back and its been a good read presenting many interesting success
all through. I have a huge respect for stories. It will be great if you can
entrepreneurs, and, I am able to relate analysis various potential business
myself with almost every article that I segments in which start ups can try
read in your magazine. Right from their hands in. Looking forward in
thinking straight, to drafting a coming issues
business-plan, to funding, to -Pratap, Mumbai
marketing, you people give an honest
behind-the-scenes story of startups. I am a women entrepreneur running
(That is what I feel, compared to other an apparel store in Chennai. I have
similar magazines). read in your magazines, several
entrepreneurs speaking about online
-Harsha Vardhan, (via –email ) presence and social media marketing.
When I enquired with some web
Glad to know about Small Enterprise development companies, it is very
India magazine. It is packed with costly to start a website and initialize
information for start ups like us. We the online marketing activities. At this
read many business publications, but point it is quite unaffordable for me. Is
everywhere the talks are about big there any cost effective tips which
SMALL ENTERPRISE INDIA
businesses. If they speak about small small businesses like mine can have
MAGAZINE is a repository of reliable
business, it would be a rural business. an online presence? Hope to see an
professional information for the
But there is a line in between where article in your magazine about this
entrepreneurial fraternity of India. We
people like us fall. Thanks for soon
cover a wide range of topics for small
publishing a magazine keeping people -Lalitha, Chennai
businesses enabling them to
like us in mind.
understand the industry, market as
-Jitesh, Mysore
well as opportunities available locally Kudos to this initiative by Aspire
and globally. Media. I came across your magazine
As we have a restless need to stay Your Franchise issue was a good read. last week. Simple, yet informative,
fresh we welcome your feedback to There are so many opportunities now that’s how I would like to sum up my
mould and make us better. Please in the market. Thanks for enlightening first impression. Looking forward for
send your feedback to the readers about starting Franchise many informative as well as diverse
business opportunities in various issues.
editor@smallenterpriseindia.com segment. Hope you will have diverse -Ranjith, Pune
topics in the coming issues.
-Sidharth Kumar, Mohali
VOLUME-V, ISSUE-IV, JUNE 2016, PRICE Rs.100/-
08
Economy
10
City Scan
32
Servcorp
Slow global growth kochi Emerging concepts in business

Should Indian SMEs space management -To give
be worried Start ups and Small Enterprises
the “EDGE”
16
18
How startups and SMEs can succeed in
today’s ecosystem
Why legal compliance and requirements

should be priority for startups
36FRANCHISE 56 TECHNOLOGY Moto G-4 Plus vs XiaomiMi 4
How to protect Data Hacking
21 Why business processes need not be from your Smartphone

alien anathema to startups Pebble Smartwatch Now
in India
24 Just moneybag or beyond that
62 AUTOMOTIVE
mentorconnector
Wonderchef Covering the
Kitchenware Market
27 Why it is important for startups to hire for

the future than hire for a position
30 Looking at data beyond tax returns

64 FINANCE
Start Up 4 Best Mileage Mid-Sized
Cars in India
70 HOW TO
6 Uncommon Ways to
39 Aasaanjobs Making recruitment easy for

job seekers and companies alike
Survive Lean Times
Can P2P lending lead to
42
money laundering RBI
MySchoolDepot The Convenient School weighs in
Shop How to create an effective
68 TAX
virtual team
44 ToneTag Revolutionizing Payment

Ecosystem with Innovative Solutions Simple Tips to Boost
Focus at a Home Office
Success Story 74 HR
Use Presumptive Taxation
to your Benefit
47 LoanAdda Offering Financial Solutions

for the under banked
76 TRAVEL
50
News republic Changing the world
through News
The Current Employment
The Success Story of Easyfone India’s Scene at Startups
54 Most Senior Friendly Phone How to slash your
business travel
expenses
ECONOMY
SLOW GLOBAL GROWTH

SHOULD INDIAN SMES BE WORRIED?
S
mall and medium Global decline is a worrying is bad news for industry owners
enterprises are the sign indeed: In today’s world in India. Those Indian SMEs
heartbeat of the Indian when global business is not which have been focusing mostly
economy.However, with isolated by geographical bound- on exports may see a decline in
a falling global growth aries, any decline in global their overall trade volume with
rate, will Indian SMEs face the markets is bad news for every- chances of volatile pricing.
heat? In its semi-annual World one. A falling growth rate in
Economic Outlook, the IMF has developed nations means China’s loss could be India’s
reduced its global growth lowering purchasing capacity for gain: The slowing Chinese
forecast for 2016 by 0.2 percent- the common man. This impacts economy—growth estimates
age points to 3.2 per cent. India, their overall purchase ratio, which pegged at 6.7% in 2016 and 6.5%
on the other hand, is projected to leads to lower exports of goods each in 2017 and 2018—signals a
grow by a robust 7.8% this year and services from India. window of opportunity for Indian
and 7.9% in the next two years. SMEs to capture the global
With Europe facing an economic markets.
So, how does all of this add up and political crisis and China
for the average Indian SME? Let's slowing down in growth rate to China has been the one big
find out. 6.5 per cent in 2016, and with no influence in global trade in recent
changes in Japan and USA's times, especially in the manufac-
growth rate, the global slowdown turing sector. Now, with the
08 \ Small Enterprise \ June 2016
Chinese economy slowing down, local Indian market is a more
Indian SMEs do not have to profitable option for most SMEs. Already, Indian SMEs do not have
worry about cheaper goods substantial labor support and
being dumped domestically, Long term reforms need of the rising labor costs have meant an
allowing them a more level hour: With a global slowdown increase in the final production
playing field both domestically expected, Indian SMEs are line. In a cost-effective global
and internationally. looking at the government for market, Indian SMEs need to
some pro business reforms. To pitch in their strong USP’s to
Indian SMEs better off focusing raise capital successfully remains remain competitive in the long
on domestic sales: A global one of the biggest concerns for run as and when the big econo-
slowdown means that exports Indian SMEs. While things have mies start sustaining a positive
may not be as flourishing as they improved for the smaller units growth for their economies in the
have been in the past. Indian with the introduction of fundrais- future. The time for Indian SMEs
SMEs need a change of strategy ing under the Mudra scheme, to chalk a long term strategy is
and focus more on domestic more needs to be done to shield now.
sales to get the better of the Indian SMEs from the impact of a
situation in the next couple of global slowdown and partial A slowdown in global growth is
years of global slowdown. recession in many developed bad news for everyone, but
nations. Indian SMEs need not press the
This, by no means, implies that panic button yet. A strong
exports should not be looked at Short and long term impact: domestic environment facilitated
as a decent revenue generation While Indian SMEs may not feel by lowering inflation and a good
channel for SMEs. However, any immediate impact of the growth rate mean Indian SMEs
over-reliance on exports should global slowdown,the SME sector can focus on domestic sales
be avoided, as a global meltdown can find it hard to sustain its while riding out the tough times.
scenario puts undue pressure on growth over time unless the
prices. With India poised to grow government has a long term -Babu
domestically, focusing on the policy in place.
June 2016 \ Small Enterprise \ 09
CITY SCAN
KOCHI STATISTICS
State : Kerala
Classification : Tier II City
Population (2011) : 2,117,990
Literacy Rate : 98.50%
Official language : Malayalam, English
Website : www.corporationofcochin.net
K
ochi also commonly known as
Cochin is the second largest
city of Kerala. The city is home
to the southern naval com-
mand of the Indian army with
an international port, shipyard and
offshore refineries. Kochi has been a
traditional business hub and is today
epicenter of multiple industrial sectors in
the state. The city is home to electronics
component industry along with rubber
and coir making up for the traditional
businesses running successfully across
the city. Kochi has well developed indus-
trial parks facilitating textiles, handloom
and IT business.

THE ADVANTAGES OF INVESTING
IN KOCHI
• Easy availability of skilled and semi skilled

workforce: Kochi offers easy availability of skilled
and semi skilled workforce for all industrial and
non industrial sectors. The state of Kerala with its
high overall literacy rate means that workers are
well equipped with English and regional languag-
es. Kochi with its number of technical institutions
including engineering colleges and management
institutes churns out fresh graduates who are well
versed with technical knowledge.
• Impressive industrial infrastructure: Kochi with

its international airport, the Cochin port and rail
and road connectivity makes it well connected to • Geographical location advantage: Kochi handles
all parts of the world. The Cochin Special Economic a large volume of trade shipments due to its
Zone located in Kochi is one of the first successful- geographical location advantage. Kochi is one of
ly operational SEZs in the country. With state of the largest transit points in India delivering both
the art civic, social and physical infrastructure domestic and international shipments. Kochi is also
setting up a business in Kochi gives the business a considered the gateway to Africa and Middle East
head start adding value to the overall business as the city offers direct port connectivity to all
facilitation process and ease of management. major trade centers.
• Single window approval mechanism: Kochi

offers a single window clearance mechanism for
any new industrial projects that are planning to set
up base in the city. The state single window
mechanism across the state of Kerala is headed by
the chief secretary and issues clearance are
allocated within a maximum time of 45 days from
the day of application for all medium and large
scale investment projects.

CITY SCAN
BUSINESS OPPORTUNITIES IN
KOCHI
KINFRA integrated industrial and Textile Park and
KSIDC Textile Park.
• IT: Kochi is a pulse of the thriving IT sector in the

state and beyond. Kochi houses some of the most
well known national and international IT compa-
nies in various software technology parks across
the city. The InforPark in Kochi which is one of the
relatively new IT parks developed in the city today
accounts for more than one-third of the State’s
total IT exports.
• Coir Industry: Kochi is a hub for the coir industry

in India and has a well oriented industry develop-
ing coir related products. The major coir product
industrial sectors include manufacturing of coir
rope, coir yarn and rubberized coir. The industry
provides employment to Lakhs to skilled and semi
skilled workers. COIRFED the apex federation for
the small coir cooperative societies also has its
headquarters based in Kochi.
• Handloom and textiles: Kerala has always been • Electronics: Electronic hardware industry has been
considered to be a strong bed of handloom and one of the major industrial sectors in Kochi. A
power loom industry. Kochi with its good connec- dedicated electronic hub is coming up in Kochi
tivity acts as a gateway for supply of raw materials which will act like a manufacturing zone for small,
for the textile industry to export of finished goods medium and big enterprises involved in the
both in India and other parts of the world. Kochi is electronics and electronic component industry. The
home to a number of textile parks that offer a hub government on its part has allocated more than
for the handloom and textile industry in the city. 100 acres of land for the upcoming Amballoor
The two well known textile parks in Kochi include Electronic Park.

• Tourism: Kochi is a hot bed of tourism and attracts TOP BUSINESS SCHOOLS IN KOCHI:
domestic and international tourists virtually all
trough the year. Meetings, Incentives, Conferences
• Amity Global Business School-Kochi
and Exhibitions tourism program also known as MICE http://agbs.in/kochi.asp
tourism is playing its part to promote business
tourism in the city while Kerala tourism is making all • Amrita School of Business, Kochi Campus
efforts to make Kochi an international standard https://www.amrita.edu/school/business/kochi
tourism destination for Kerala.
• Rajagiri Business School Kochi
• Alternate healthcare: Kerala and Ayurveda go hand http://www.rajagiribusinessschool.com/
in hand and the state has been famous for alternate • Kochi Business School
modes of treatment. Kochi is now being developed http://www.kochibusinessschool.ac.in
as a epicenter for alternative medicine with approved
medicines and treatment centers. People from all • FISAT Business School http://fbs.ac.in/
over the world are visiting such alternate medical
treatment centers in Kochi as part of their overall • School of Management Studies Cochin
wellbeing. http://sms.cusat.ac.in/
• Rubber industry: Kochi is home to India’s biggest -Sandeep Kumar

rubber industrial park named KINFRA. The industrial
park houses both small and medium manufactures
along with bigger corporations involved in the
manufacturing and trade of rubber and rubber
components.

COVER STORY | STARTUP ESSENTIALS
HOW STARTUPS AND SMES CAN SUCCEED IN TODAY’S ECOSYSTEM?
B
eing in a startup spot opportunities to pitch their There can be so many factors
ecosystem has never idea on the right forum to get that could decide the success
been as exciting as it is funded. So, there are quite a few probability for a startup. Some
today. The opportuni- challenges that a startup under- of these, as outlined below,can
ties to start a venture goes before they get to the certainly help these startups to
abound and there is room for success bandwagon. increase their success quotient.
many to play in this space. The
top cities that produce tech In spite of plethora of challenges Validation: Developing products
startups are Bangalore, NCR, that startups have to surmount, and services without validating if
Mumbai, Chennai, and other fast our country is buzz with ‘start- there is a market or demand for
emerging cities. ups’, thanks in part to our Central their product or service can be
Government’s initiative in one such critical driver of success
Innovation is the order of the bringing a separate focus on this probability. In a blue ocean
day. Disruptive technology and startup industry. Recognizing strategy where you are trying to
disruptive business model are the that this industry needs to be capture new frontiers, or come
new age mantra for exponential nurtured to propel its way to up with disruptive technology,
growth. become a super power, it is the validation process has to be
heartening to see policy initia- different. Not just the research,
Over 90% of startups fail. tives to support startups in India. but also understanding the pain
Almost over 50% of startups Today, the younger generation is points or gain aspects for any
do not last beyond one year. 8 ready to take risks, which has consumer is crucial. This can
out of 10 startups kick start been a change in the outlook reasonably decide for you if there
through their savings. compared to the risk-averse is a product-market fit for you to
previous generation. leverage.
The fund raising options have How can startup leverage to Mentoring: should be effective
improved,yet not many have make their mark and be in order for startups to increase
access to investors or are able to successful? their success ratio.There are
many incubators, and also social media, etc. All have to be It is also about sound and smart
accelerators, but rare to find a in a single thread so that what execution that determines the
combination with an effective, you speak and what you standby success factor. It is ideal to have a
continuous mentoring and should be the same, in whatever 'startup business consultant'
guidance system for startups. dimension it is seen from. (business advisor)on your Board,
Some investors do receive an who can ensure that you are
investment seeking proposal Creating differentiators: is also taking the right steps and
every other day, and in spite of a challenge that most startups executing it right.
short-listing hundreds of ideas, grapple with. Startups need to
the startup they invest in may or understand that in order to win a The startup ecosystem is certain-
may not provide them the race one need not necessarily be ly getting better by the day, but
desired results. Even from many miles ahead, but just nose ahead. the pace of support is slow
investors' stand point, the ratio Many startups tend to spend a considering the growth and
of success seem to be 1:6 or 1:7, lot of time trying to create a big opportunities that Indian start-
meaning 1 in every 6 or 7 differentiator and miss out on ups can exploit. With a right
startups will grow significantly precious time. combination of great mentoring,
that would offset the loss of good business, marketing
other ventures. Time lost can mean a bigger strategies, and with a great team,
opportunity lost. In startups, the execution can take startups
So, though the risk factors are timing matters a lot. In spite of to much higher levels. It’s time
high, be it for the startup found- an idea being greatand the to facilitate by creating such an
er or the investor, the market is differentiator being in place, the ecosystem which in turn can
still very exciting that the inspira- product or service can still fail contribute to the growth of our
tion is drawn from the successful since it could be out of sync with GDP,and also creating millions of
startups for the new breed to the timing factor. That is,the idea employment opportunities in the
follow their path. is too early or too late. coming years.
Creating a niche: This is yet Marketing and positioning: is

another aspect that most start- another key factor that can
ups miss out in creating and decide a startup's fate. Digital
marketing their product or marketing has to be pursued by
service. You can also term it as every tech startup without fail.
‘branding effect’. Brand is not The reach can be significant and
what you think you are, but what every penny spent in this initia-
others perceive about you. tive can be tracked to find what Shyam Sekar S, Founder and Chief
It starts from your identity, like works and what does not. Mentor, Startup Xperts Business
Consulting Pvt. Ltd.
the logo, the website, the
collaterals, your presence online,
WHY LEGAL COMPLIANCE AND REQUIREMENTS SHOULD BE
PRIORITY FOR STARTUPS

I
f you are planning to walk on reasons, quite often, a lack of preneurs starting out is, what
the path of entrepreneurship awareness of legal risks and the kind of ownership structure to
or have been bitten by the need for business protection can consider. Will opting for a
startup bug, a world full of equally be the culprit. Any proprietorship be a better idea
opportunity awaits you. unexpected legal dispute or than going for a partnership?Will
Given the resurgentstartup liability can sink your business an LLP suit business vision as
ecosystem,government polices ship before it even starts sailing. compared to a private limited
facilitating startup culture, and entity?
easing ofnorms, the timing is just Here is an insight into how legal
about apt. risks can derailany startup and Many budding entrepreneurs do
look at ways in which you not take into account their long
New startups sprout up almost canprioritize compliance require- term vision and how opting for
every day, but not all of them are ments over pressing business the wrong business ownership
able to sustain their initial matters. can become a problem going
momentum and fall by the forward—be it in getting inves-
wayside. While wrong business You may be having a wrong tors on board or getting funded.
modelsand a lack of market ownership structure: A big Your legal attorney or advisor
understanding can be possible question faced by many entre- would be the right person to
choose the right ownership terms and conditions can be for Intellectual property, copy-
structure for your business. the way you conduct business rights, and trademarksmay not
with peercompanies, the memo- be adequately protected: You
Requisite organizational randa of understanding you may will need to start protecting all
documentation may have been have with your partners, joint your intellectual property before
overlooked: Every organizational ventures, or clients. launching your business. These
entity has its own set of docu- include filing for patents, regis-
mentation owing to the legal The terms and conditions even tering trademarks, licenses,
structure it adopts. If you are stem from those listed on your detailing on any infringement
handling the day to day opera- official brochures and websites, issues, etc.
tions or the setting up of your or from the contractual obliga-
business entity, it is quite possi- tions arising from hiring and Since this is a technically inten-
ble that you may overlook an other operational activities. sive exercise, it needs domain
essential organizational docu- Now,having a legal counselin expertise and due diligence.
ment that may have been key to place enables the entrepreneur Unless you have a legal team or
mitigating the legal risks you are to draft workable and unique have access to expert legal
trying to circumvent. You do not terms and conditions agreement advice that can exclusively
want to be in a situation later to serve as negotiating docu- monitor and safeguard all your
where your business launch or ments or business protection intellectual property rights and
any funding gets rejected due to devices. other intangible business assets,
any missing documentation. chances abound thatthese risks
Startups may resort to copying can be inadequately protected,
Maintaining a legal cell within terms and conditions of other leading to possible rights
your company or securing legal companies or entities, but infringement and potential
counsel enables your company to shortcuts such as these can business losses.
take care of itsorganizational actually increase your exposure
documentation needs and to legal risks instead of mitigat- Make sure your business
possible record keeping in the ing them.The entrepreneur is follows all necessary registra-
future. then at risk of leaving himself or tions: To make sure your
herself vulnerable to any future business is complaint you will
Business terms and conditions loopholes that may come have to follow all legal and
may be missing or inadequate tohaunt their business financially, employment regulations, includ-
Every business comes with its ethically, or legally. ing registrations under the labour
own terms and conditions. The laws and locals laws. Registra-

tions under applicable state shop but you will need to raise financ- Giving priority to compliance
and establishment legistation, es with time. Make sure your requirements should be a part of
Employees’ Provident Funds and company is “fundraising com- your business basics. With a legal
Miscellaneous Provisions Act, plaint’ from the start. The last team in place or with credible
1952 (if your company or factory thing you want is to see investors legal advice, you can focus on
has 20 or more employees)an- looking away due to any techni- your business without worrying
dEmployee State Insurance Act, cal regulation or compliance about unaddressed legal liabili-
1948 (if you are planning to open issue. ties.
a factory by employing 10
workers or more or planning to Your business may not be
open any other business estab- sufficiently protected against
lishment employing more than discrimination-or harass-
20 people you will need to sign ment-related risks: Discrimina-
up with the Employees State tion and harassment are not
Insurance board of your state) synonymous with human moral
are very important. ethics,since,with a large work-
force, there are often complaints UnnikrishnanVenugopalan is a
Further, following the work-time, that need to be addressed on Company Secretary and lawyer,
paid holidays and maternity leave their own merits. having rich experience of
under the applicable Shops and working in various industries. A
Commercial Establishment Act, Unless your company has former Legal Representative and
promulgated by various states well-oriented policiesand guide- Company Secretary of Intel India
and the Factories Act, 1948 lines for such complaints, you in Bangalore, Unnikrishnan
needs to be ensured. Many may find it difficult to resolve currently Associate Partner of
start-ups ignore the same as such complaints. Do not ignore Themis Associates and is
insignificant, while the non-com- the possibility of a legal compli- providing business-centric, legal
pliance of the same could attract cation in the absence of any advice on fund formations,
huge penalities. policy against discrimination and investments, and divestitures;
harassment. It is never too soon joint ventures and strategic
Your business may not be to institute such measures that alliances; and cross border and
compliant enough for fundrais- can protect your business against domestic M&A for both listed
ing activities: If you are a discrimination- or harassment-re- and unlisted companies.
nascent startup, you may have a lated legal risks.
bootstrapped business for now,

WHY BUSINESS PROCESSES NEED NOT BE

ALIEN/ ANATHEMA TO STARTUPS?
I
believe the present debate needed about the startup, before one or multiple founders.The
on startups -what is required getting down to the brass-tacks founders are driven Alpha
for its success, dos and for creating an ecosystem that people, focused and determined
don’ts etc. – are triggered by facilitates their proliferation, to succeed. They will have limited
the announcement of the survival and consequently, access to finances, except from
Startup campaign by Prime success. Startup is a young specialized sources created for
Minister from the rampart of the company just beginning to that purpose.
Red Fort on 15th August 2015. develop. It is usually small and
Some conceptual clarity is initially financed and operated by

The other important feature of people or driven by the entre-
such enterprises is their focus The same analogy holds all the preneur. It is true for Microsoft,
on creativity and intellectual more true in the case of a Dell, Apple and Infosys, if one
inputs that help in devising startup. A startup is a commer- takes an Indian example. They
newer products and services. cial venture and cannot be have grown over the years into
Because there is a heavy bottled up in the cocoon of an multi-billion and multinational
dependence on the brain trust intellectual pursuit. There is companies. A historical perspec-
to pursue such entrepreneurial initial investment both in terms tive of their growth, for certain,
ventures, it's often pointed out of men and materials. It is not will reveal not only the strong
thatcomplying with processes an exercise done in a vacuum. In structures and processes that
and practices wouldscare them most of the cases, a startup they have built around them not
away from their creative either to create a new product only when they grew up but
ventures. or a service cannot be confined also at their startup trajectory
to the household premises. It as well.
Startups are quintessentially should have an office, staff, and
different from the avocations of recurring expenditures like “A business process is a collec-
a writer, painter or a sculptor, electricity, computers, tion of linked tasks, which find
who are glued to their works. telephones, stationery and their end in the delivery of a
What is happening in the sundry expenses. Assuming that service or product to a client”.
outside world, is of less signifi- the startup is a one-man show, A business process has also
canceto them. A close examina- most of these expenses still been defined as “a set of
tion presents the flip side of have to be incurred. No venture activities and tasks that, once
the concept.For instance, why a capitalist or a bank will invest in completed, will accomplish an
writer of repute employs or these units unless they antici- organizational goal. The
seeks the help of a literary pate profits, not immediately, process must involve clearly
agent or a sculptor depends on but in the future, if not in the defined inputs and a single
an art agent to sell their immediate future. For such output. These inputs are made
creations. Why reams of reviews finances to come in, there are up of all of the factors, which
are done in all available mass minimum threshold structures, contribute (either directly or
media before a book launch? processes and compliances that indirectly) to the added value of
Why sculptors and painters the investor should look a service or product”.
display their creations to the forward to, such as registration
outside world accompanied by a of the enterprises, its future It’s a myth in the startup world
cacophony of publicity and cash flows, a roadmap for its that not having processes
invitations to visit the exhibi- sustained growth and of course makes one more competitive. In
tion. These are structures and adequate return on capital after my experience, start ups are
processes that have to be a lapse of a few years since its never able to take off without
compiled once the author or inception. defined processes to respond to
painter wants to sell his/her market needs in a timely
creations at a premium. Even if Another important reasoning is fashion, and meet parameters of
he or she does not want to do that startup is not a“be all and quality, operating costs etc. I
so, the publisher or the agent end all” game. Every start up do believe that start ups must
will compel them to do so since should gain a critical momen- adopt certain business process-
they make the investments. That tum at some point of time to es, in order to be successful. Of
meansthat there is a heavy move up in the value chain. That course these processes must be
commercial angle to even such way, almost all IT behemoths in simple, transparent, logicial and
pursuits, which are innately the world were startups to definitely not bureaucratic.
cerebral in nature. begin with employing a few These processes must be in

tune with the culture of the following are samples of process- sales, support, and service
company, established by the es to be adopted: operations.
founders. These processes must
be evolving, and will change 1. Keeping track of expendi- Processes and structures rather
based on the business require- ture and business assets. than being seen only as the
ments. antithesis of innovation, should
2. Managing business to have some relevance to compa-
I do not suggest that one should specific goals, priorities, and nies at every stage. A bit of
model one’s startup after the a clearly set out plan. “good” process facilitates growth
complex corporate organizations and expansion.
one hated in his or her last job, 3. Organise and prepare for
but there are a few basic func- need based funding.
tions and activities that would be
expected to be found in a startup 4. Human resource planning.
proposal with any real potential
to add value to the world. The 5. Manage the Marketing,
Asoke K. Laha, is the Founder, President & CEO InterraIT Inc. and President &
Managing Director of InterraIT India. Ashok is the Executive Vice President and
incoming National President of the Indo-American Chamber of Commerce
(IACC). Asoke is actively involved in various prestigious industry bodies like
AMCHAM, ASSOCHAM. He is a working committee member of the Software
Export Promotion Council (“ESC”) and also represents the Noida Special Econom-
ic Zone (“NSEZ”) as the President of NSEZ Entrepreneurs Association.

JUST MONEYBAG
(OR BEYOND THAT - MENTOR/CONNECTOR)?

S
tartups have been stuck on pre-money valuation and in bargain may lose time
growing in India or commercial terms and and money, with able advice
and in last couple of ignore other factors than one can avoid mistake and
years the number of you’re likely to be sorry later. gain from investors experience
startupsgrew at The way investors evaluate on building team, cracking
much faster pace in last and do due diligence before that first sale or avoiding huge
decade. As per Economic investment; even entrepre- cash burn or how to negotiate
Survey 2015-2016, there are neurs should do their part of etc. It is nice to have someone
over 19,000 technology evaluation on investors and with lot of wisdom on your
enabled startups in India. their expertise/offerings. side while building a venture.
While the number of startups
has grown, the number of There could be many factors,
investors has also grown on here are few what an entrepre- 2. Who’s the Investor: When
similar way and the money is neur can look at while decid- you are raising money, you will
getting invested from all ing on investor:- come across many investors.
possible quarters. All things being equal choose
1. Expertise: Nothing can the one with the best recogni-
Though investment cycle has match wisdom or experience. tion as investor. Taking money
seen some slackness in last If you can learn from someone from known savvy investor,
few months but the quantum else’s experience; be it failure who has built successful
in first or seed cheque stage or success and avoid those venture or part of successful
hasn’t shown any slowness. costs than path to success entity, will always help as their
The money is one of the would be easier, more impor- involvement will be viewed as
important ingredients for tantly the learning cycle would positive factor for your
success of any venture but is be shorter with less mistakes, venture.
not the only one. making path to success easy.
For eg, taking money from
With average age of first The first time entrepreneur financial investor or from likes
generation entrepreneurs faces many challenges and of Ratan Tata or Mohandas Pai
going down it becomes more with less on experience the will always make a difference
important to get smart money path becomes bit challenging as they are smart investors
than just money from investor, and could be costly if not and a successful picker of
money should not be the only thought thru before taking winners. In case you are not
deciding factor while taking action, if one can find some- aware about the investor then
investment but there could be one who has been down a do make an attempt to ask
many factors like, whether similar path, handled similar people around you or do
investor can provide access to situation and gone thru research, social media can play
customer or suppliers, can churning cycle before success- great role in doing so. An
help in building team or can ful exit, they can be a great investor’s reputation plays an
help raising next round or how value add and provide crucial important role in building
to deal with growth pangs etc. advice and suggestions. company, apart from their
experience it will also help
Money is important but there Most of the time post invest- opening up many doors,
should be more than money ment, you tend to accelerate which matters a lot.
on table while deciding growth and burn fast without
on-boarding investor, if one is realising on impact of action

3. Network clout: All being you can gel well with investor choosing right investor
equal then connections plays or not, whether investor and improves the probability of
an important role as it is said your goals are aligned or not. success and avoiding mistake
“Connections are golden. The What kind of personality they which could be costly and time
investor should be in position are? are they someone you consuming.
to open doors for you or put in would like to look at in time of
touch with people who can need or can you spend whole
help accelerate the business. day brainstorming your next
The timely and appropriate business strategy.
connection certainly improves
the chances of success. Investor 5. Sounding board: Entrepre-
with good network can do neurial journey is very lonely
wonders for business, hence do journey and there are times
evaluate investor networks, this when you don’t know whom to
can be easily done or checked approach of advice or whom
on linked or social media. you can bank on that one piece
of advice or can you just
A good networked Investor can download your heart and move Anil Joshi is the Managing
not only open doors for your in life. Partner of Unicorn India
sale but can also help bringing Ventures, an SEBI approved
right member on team or Smart investor plays an import- venture fund under AIF-I
access to consultant or advisor ant role being a sounding Category. Prior to this, Anil
or mentor or to your next board to young/first time was heading operations at
investor. For eg. if you are entrepreneurs. Hence do take Mumbai Angels and Bangalore
starting an travel company time to understand your Angels, leading Angel
then having someone from that investor and whether you can Investment forums in India as
industry will certainly help, like look up at them when you President. His experience also
providing access to distributor need them most. includes corporate
network or help building management functions in
channel partner, here investors While valuation do matter, medium and large
experience plays an very however during initial phase it organizations, investment in
important role. is important to have right start-ups, project
investor on board, in case you management, joint ventures
4. Gelling / Long term associ- have a choice between inves- and business development.
ation: Early investors are long tors and one of the investor
term investor, you would betters’ on above traits than
probably have longish associa- another then choose one who
tion with them as investor than would be more favourable to
anybody else, and irrespective you and business in long run
of stage of investment this is even if at lower numbers.
largely true for most of the
investor. It is better to have a smaller
slice of a large company than it
You would be spending lot of is to have a large pie of a much
time with your investor and smaller, or in the worst case, no
make lot of decisions hence do company. The failure rate in
spend time in ensuring whether startups is quite high hence

WHY IT IS IMPORTANT FOR STARTUPS TO HIRE

'FOR THE FUTURE'THAN HIRE'FOR A POSITION'
A
t the start of this startup ecosystem was abuzz successes of Instagram, Snap-
decade, the Indian with activity giving rise to chat, and Whatsapp), one of the
business ecosystem another category of financial biggest booms that occurred was
witnessed the evangelists called ‘Angels’. These in the hiring domain. Startups
advent of startups. Angels, HNIs of sorts, were needed people to build technol-
Largely driven by technology, looking at alternative asset ogy, sell products, and provide
these were established by urban, classes to invest their surplus operational & logistical support
educated, younger class to funds. While the initial invest- to deliver a great customer
leverage the growth of the ments in startups kept multi-fold experience.
Internet and mobile phone gain in mind, later it became
penetration in India. It was these fashionable to be Angel invest- In the initial years talent was
new first generation entrepre- ing. By 2013 and 2014, the readily available, largely because
neurs who were equipped with startup ecosystem matured in of the startup euphoria and a
strong technology know-how India, with large deals being certain credibility it bought with
and understanding of how the funded and emergence of it being a part of a Product
western world solved day-to-day successful digital businesses like development company. India,
challenges using the Internet. Flipkart. until then, was largely recognized
With funds being available easily as an 'outsourced services'
The green shoots of serious and race for achieving overnight country executing cumbersome
startup activity: By 2011, the growth (trying to emulate the jobs that the western world did

not want to do or did not have conduct business and largely The peculiar survivors: While
the resources for. moved where it costed them the challenges continued to haunt
least. There was almost no the larger startups who had
Startups begin to step up: 2015 customer loyalty to any single committed spends for higher
saw large startups come into brand. growth rates, there were
their own. An after-effect of that mid-sized and small (and even
was almost anybody and every- The ubiquitous layoffs: Late some large) startups that contin-
body started getting funded. 2015 and early 2016 saw a series ued to survive due to some very
With the available funds, larger of layoffs by prominent startups peculiar strategies. These were
teams were getting built. There to rein in their monthly burns. the startups who had, earlier on,
was war for talent—even expats Staff salaries contribute to over realized the impact of over-hiring
were brought in to get cutting 60% of monthly expenses for a on their P&L and who were very
edge know-how from the Silicon technology startup. Almost every cautious about adding head-
Valley. Even smaller startups with startup had invested in hiring counts, unless it was absolutely
Angel or pre-seed funding specialists in a given domain, inevitable. These were the lean
starting becoming ambitious and paying top dollars. With and frugal startups, who focused
looked to onboard high quality challenge to reduce burn, the on building a steady customer
talent at stratospheric costs. startups had to reduce on their base and on generating revenues
offerings leading to making from the word 'go'.
It was in the second half of 2015 several employees redundant.
that things started to decline for Uniquely,the hiring strategies of
startups. With large teams The majority of these redundan- these survivors revolved around
on-boarded and businesses built cies affected those specialists, the adoption of fresh talent.
on the promise of future, almost who were hired for a specific role, While at one end one section of
no startup generated revenues. who came with experience in a startups believed in getting
Technology became extremely given domain. While few were specialized expertise, these
dynamic where newer tools were agile enough to catch onto the smarter startups leveraged the
getting available in the open changes, new systems brought, enthusiasm and 'hunger to grow'
source community improving on many banked on their extensive traits of the millennials.
the existing ones at significant- (stale in most cases) knowledge
lygreater pace. Customer started and skills. The team pyramid in such
getting multiple options to startups was 1:5, where every

one senior specialist—usually contribute,and be loyal is the stages. Startups need to take a
from the founding team—would greatest asset. longer-term view of their
groom, develop, and lead five businesses and build for the
freshers who would be malleable Compare this with someone with future. Even the likes of LinkedIn,
enough to be molded & prior experience in the domain Facebook, and Amazon took
re-molded as the startup needed. and is hired for a specific several years to build a formida-
Millennials were not only position and role. Tendency of ble business.
inexpensive, but also flexible such employee is to constantly
enough to don any hat as was judge whether his or her current The mantra, then, becomes that
required at that hour. role is adding value or enhancing startups need to carefully and
his or her existing experience. gradually build their core teams
On the other hand, risks of hiring The focus then shifts more keeping future in mind. Startup
for specific positions was grow- towards self-goals rather than culture is about agility, flexibility,
ing because when the need to company’s.Of course, there are and malleability of its teams to
shift the gear & direction became exceptions to this phenomenon, be able to bring innovations at
more dynamic, the specialists lost as with any other. significantly lower costs. Technol-
sense of bearing or got disillu- ogy, business models, and
sioned with not being able to Further, someone with specific customer segments will change
leverage gained experience. experiencemay tend to come more rapidly today than they did
Many also worried about their with preconceived views about decades ago. Today, there is a
CVs getting spoilt due such what can and what cannot be competitor born every day and
aberrations and shift in job roles. done, blinding them at times to entry barriers to start something
potential newer ways of doing new have significantly reduced.
Hire for Potential: It has been things that could turn out to be Thus, only those startups that will
observed that employees who faster, better, or cheaper. be nimble enough to move fast,
were not hired for a specific steer fast, and shift fast will
position stayed longer in the One of the crucial impacts of survive and succeed. So startups
company. Employees hired based hiring for the future then is in will need to look at teams that
on their long term potential and terms of how much the Founder will stand test of time enough to
thus highly groomable, or sheerly has to spend time managing able to figure out 99 ways of not
because of their fire in belly,indi- such employees and handle making a bulb, faster then their
cating a strong desire to succeed, stress, in addition to other more competitors!
demonstrated higher eagerness pressing matters to worry about.
to learn the ropes and explore Employees that are loyal gain
newer and better ways to do the significant trust of the Founders
same things. and thus Founders have less to
worry about managing them. As
Because of this opportunity to against employees who are
learn on a daily basis, such constantly weighing their own
employees imbibed stronger gratification and who are incre-
allegiance with the company's mentally productive to the
interests. This made them more startup are a cause of huge worry A serial entrepreneur, Chetan has
loyal and dedicated, preferring to to the Founders not only in terms extensive work experience in USA, UK
and India in senior management roles.
stay put and grow rather than to of return on investment but He has built and sold multiple ventures
get attracted by better compen- potential threat to the overall and is currently Founder of a Virtual
sation or cushy designations. culture and work environment. Recruiter Platform called Reckrut.com.
However,the basic assumption Chetan is an avid blogger, speaker at
here is that the employer also It is increasingly becoming conferences and advises aspiring
entrepreneurs across variety of startup
recognized their contributions important to adopt the right
segments.
and gave them due respect and hiring strategies not only in the
appreciation. For a startup, an early stages of a startup but
employee willing to learn, evenin the growth and scale up

LOOKING AT DATA BEYOND TAX RETURNS

activity of filing the income tax
returnsis a once-a-year affair, due
to which the information on the
tax return files is dated and
mostly 12-18 months old. This
hinders the lenders in taking a
view of the most recent financial
health of any business.
Due to these limitations, lenders

have been encountering
challenges in underwriting loans
for the small business segment
and they follow a very cumber-
some alternate process for
underwriting loans. A lot of
information is gathered from the
customer by doing personal
meetings and field visits which is
not parameter-driven and is
highly subjective. The underwrit-
er relies too much on non-finan-
cial parameters.
This manual process makes credit

administration expensive for the
lenders which eventually gets
passed on to the customer and
reflects in lending rates for the
small business segment being
L
much higher than consumer or
corporate segment even though
ending to small approach of estimating a the credit performance of this
businesses is a complex prospective borrower’s income segment is at par or maybe
activity and is not as suffers from certain drawbacks, superior to the corporate
straight forward as categorically when the underly- segment.
lending to consumers ing borrower is a small business.
who have traceable and recurring If lenders can get access to some
salary payments or akin to Firstly, for small businesses, the other structured information or
lending to a large corporate tax returns do not reflect a true data, they can safely lend to
where accounts are audited and picture of the business. The small businesses in a more
are publicly available. income on the statements is efficient manner.Most small
mostly understated and also businesses are fairly simple and
The traditional approach there is little distinction between easy to understand and do not
followed by business lenders to personal and business financial have complexities associated
gauge the ability to pay typically position which tend to get with large businesses like project
relies on review of tax statements clubbed. Another major limita- execution risk etc. Small
or income tax returns. This tion in this approach is that the businesses are also generally

better placed with respect to This approach has benefits detailed statementsthatcapture-
economic cycles and have countering the drawbacks of the detailed descriptions of each and
greater flexibility to scale up and income tax return-based under- every credit or debit transaction
down during cycles. writing. It provides a view of the with much more granularity.
mostrecent financial position of a Some of the data points that can
The primary requirement of small business and is potentially easily be extracted from a bank
borrowing for a small business is more accurate than tax returns. statement are business turnover,
towards working capital as they loan repayment, tax payments,
mostly sell on credit and buy Adding to the advantages is the utility bill payments, salary
from large business suppliers fact that these supply chain payments etc. All these signals
paying upfront.Even if supplier aggregators are large corporates are much more valuable than the
credit is available, the effective or technology platforms and are information that is obtained from
rate which is built into product equipped with sophisticated ERP the tax statements.Bank state-
pricing is much higher than what systems. This enables the aggre- ments are also available in real
a business would pay for formal gators to maintain a far superior time and hence reflect the
lending from financiers. quality of data as compared to current health of the business
any data provided directly by a much better than the historical
Themost effective way for a borrower. The process of data tax returns.
lender to lend to small business- transmission can also be com-
es by looking beyond the tax pletely automated. Information Along with bank data,the finan-
returns data would be to some- obtained from such aggregators ciers should also turn towards
how embed themselves in the is far more valuable and provides other forms of data like Service
supply chain in order to get a a more holistic view of the tax and VAT returns,shipping and
direct visibility into the transac- business than tax returns which logistics data, utility bill payment
tions being done by the business. are fairly uni-dimensional. data, data extract from point of
With a rapid pace of evolution in sales software and enterprise
various industries, there are For instance, in addition to ERP/ accounting system, etc. The
various emerging supply chain getting the most recent business data in question is mostly
aggregators that can be poten- turnover data, the lender can available in digital format,andis-
tially leveraged by lenders as potentially get information like fairly easy to extract and analyze
data source for loan underwrit- price trend, growth rates, defect if the right technology and data
ing. rates, return ratio, buyer rating model is built around it.
etc. for a business, which is much
Exemplifying the above state- more valuable than just looking
ment, e-commerce is an industry at tax data. This same method SiddharthMahanot, Co-founder
where large market places have can be replicated across indus- and COO, Indifi Technologies
developed and the web has tries—for instance, income data Private Limited, a platform that
become a trading platform for for a cab owner could be sourced enables access to debt-financing
many SMEs. These marketplaces from a cab aggregator;that for a for small businesses.
are nothing but aggregator grocery store from a FMCG
platformsthat facilitate business distributor; and, that for a hotel
for innumerous enterprises and from OTAs, etc.
therefore are a rich source of
business transaction data. Such Another source that is better that
data can be used by lenders to tax statements from an evalua-
assess income flow of the SMEs tion perspective are bank state-
or prospective borrowers, based ments. Bank statements have
on which, loans can be under- evolved significantly over the
written. past few years from hand-written
passbooks to much more

IMPERIAL SERVCORP
EMERGING CONCEPTS IN BUSINESS SPACE MANAGEMENT

TO GIVE START UPS AND SMALL ENTERPRISES THE “EDGE”
Ms Taranviir S Kaur, Country Head, Imperial

T
he “Make In India” costs, high manpower and Servcorp, the world’s premium
initiative launched by training costs and a lot of serviced office provider gets
the government of administrative hassles. This need these two offerings to India
India has opened up gap is bridged by Serviced and along with a complete range of
huge opportunities for Virtual offices which ensure that business solutions to run the
Start ups and small enterprises. you can run your business business cost effectively, in India
Today they are gaining momen- professionally without the cost of and in 150 locations across the
tum, promising new ways for a full time physical office and globe and gives SMEs access to
businesses to collaborate and support staff on your payroll. the best locations, facilities,
grow both in Indian and the technologies and people at the
International market. Serviced offices provide an lowest possible cost.
opportunity in a prestigious
For start ups and small enterpris- location without significant Servcorp is the world leader in
es to flourish, businesses are overheads or a long-term lease serviced, virtual and shared office
adopting innovative means to and the flexibility to increase or products and IT services focusing
curtail prohibitive real decrease their workspace as per on providing business solutions
estate/property costs incurred in their business requirements. Also to help you save time and money
setting up one’s own office and for businesses that do not have and allowing you vital portability
work smartly. a requirement of physical office and flexibility to do business at
and for the tech savvy business any time from the most premium
When it comes to business, generation of today who is locations and cities around the
image is everything. Having an always on the move , there is a world. We give you a five star
office located in a professional unique concept of Virtual offices enviroment, the best technology
environment and area that’s .A Virtual Office gives you the and the best people crucial to
commonly associated with big professional presence, mobility, making your business successful.
names in the industry does flexibility and the diversity of
wonders for one’s business doing business that any growing
profile. Normally for a start up business needs.
this equates to high real estate

IMPERIAL SERVCORP
At Servcorp we aim to provide will benefit our clients by unmatched anywhere else in the
our clients: providing comprehensive and industry:
integrated programs on our
• Reduced running costs private IT network with give our a) Find ME Follow ME- Never
clients the flexibility of miss an important call. When a
• The best first impression which controlling their business by call comes it rings simultaneously
they can make on their clients giving them complete control or sequentially to different no.s
over : provided by you- your mobile,
• A global platform giving you home, office
ease of entry and representa- a) Our resources- Book Meeting
tion in any market around the rooms, boardrooms staff services b) ONEFONE: This amazing app
world anywhere in the world in real provides the convenience of
time from your smartphone, having your office at your
• Complete transparency- you tablet or laptop via our meeting fingertips by helping you take
decide, only pay for what you app your office phone number with
use. you anywhere i the world
b) Our communications- You
What is it that differentiates have the power to update your c) ONEFAX: Secure fax to email
SERVCORP company details, phone answer- technology.
ing requirements and allocate
1. World’s greatest locations, your voice mail diversions online “We aim to provide your
plush interiors with modern and and control your call flow. business the difference. The
classic fitouts which create the difference which empowers your
right impression 3. Servcorp is the only provider business and becomes your
in Cloud and Servcorp’s high COMPETITIVE ADVANTAGE”.
2. At Servcorp we have invested speed internet service is
heavily in development of designed in house for a
proprietary business software multitenant environment and is Ms Taranviir S kaur, Country
because we know what our unique to the industry. Head, Imperial Servcorp. She can
customers want and what helps be reached on:
drive their business. We have 4. World Leading Communica- tkaur@imperialservcorp.com
created technology solutions that tions with features that are

FRANCHISE | WONDERCHEF
WONDERCHEF
COVERING THE KITCHENWARE MARKET

W
onderchef, brand has been bringing world Wonderchef carries about 250
India’s premium class quality and international chosen SKUs in the Studio
kitchenware designs to India for the last 7 depending on the catchment of
company,was years. the location. The Studio also
created by two carries some exclusive brands
enthusiasts driven by passion of At a time when dependency represented by Wonderchef in
making Kitchen the Centre of towards smart, efficient, effort- India like Ballarini Cookware and
wellness and goodness in homes. less and compact kitchenware is PavoniBakeware from Italy,
Mr. Ravi Saxena and Chef Sanjeev becoming the need of the Peugeot Pepper and Salt Grind-
Kapoorbelieved in kitchen being millennial, cookware, bake ware ers from France, Richardson
the 'heart of our home', as it and kitchen appliances are Sheffield Knives from England,
inspires us every day to create becoming increasingly important. Hurom Cold Press Juicers from
lasting memories with the food Wonderchef, currently, has South Korea and Microplane and
we cook for our loved ones. presence in over 4000 cities and KitchenAid from USA.
towns in India, through retail, TV,
This is why the entire range of e-commerce, general trade, The founder emphasised that in
Wonderchef Cookware and modern trade, and a unique the coming years, as the business
Appliances is a perfect blend of channel of direct marketing via grew, franchising would be an
health, taste and convenience 40,000 women across India. important channel of growth for
that inspires us to 'cook with Wonderchef.
pride'. Wonderchef products are “Wonderchef, with its philosophy
used in millions of homes in India of innovation, brings these smart Branching Out With Invest-
where healthy and convenient solutions for today’s progressive ments
cooking is a part of lifestyle. homes, including nuclear families Wonderchef has branched out to
Aselection of products has been and bachelors,” says Saxena.“ To- include 130 Shop-in-Shop
specially designed by Chef day, millions on customers are formats, and has a presence in
Sanjeev Kapoor to meet the fine using Wonderchef products across about 2100 retail stores, becom-
taste of India’s discerning India and it has become synony- ing one of the most respected
consumers, who now want the mous with quality in kitchenware brands in the kitchenware
best. category.” category. The company’s first
exclusive studio franchise
Wonderchef constantly endeav- The Franchise Business Model kick-started in Linking Road,
ours to create modern solutions Ravi Saxena elaborated on the Bandra, Mumbai, and is now
for today’s woman, making it the way Wonderchef exclusive brand riding on the success to open at
‘most loved Kitchenware Compa- stores work. There are two ways, least 8-10 stores within the year
ny' in India. We had a small namely, Franchisee owned, 2016.
insightful talk with Mr. Ravi Franchise operated (FOFO) and
Saxena about Wonderchef, their Franchise Owned, Company Ravi Saxena is hopeful of gaining
beginning and journey into the Operated (FOCO), and these 100+ Franchise stores by
delicious world of kitchenware. depend on the city and the FY20-21. When we asked him
location of the business. “In both about the eligibility of a person
The Beginning models, the property belongs to, to open a franchise, he said that
Both Ravi Saxena and Sanjeev or is leased by, the Franchise. The any seasoned businessman who
Kapoor have been in the food Company provides the design and has a Hi-street or Mall property is
industry for years. It was their layout for the outlet, and the eligible.
desire to bring high quality Franchisee invests in the fit-outs,”
kitchenware to Indian market he explained.“A healthy margin is “The carpet area of the property
that paved the way for the birth shared with the Franchise that must be 600-800 sq. feet. It has to
of Wonderchef range of Cook- ensures payback within 18-24 be strategically located in a
ware and Kitchen Appliances. The months.” high-footfall location,” said

FRANCHISE | WONDERCHEF
Saxena. “The property can be

fitted out within 40 days of the Ravi Saxena is not too bothered “Association with Wonderchef
signing of the contract.” by the marketing facet of their not only offers a partnership with
business. asuccessful company, but also a
According to Saxena, the franchi- relationship with Chef Kapoor,
see fee per outlet is INR 5 lakhs. “Social Media is utilized effective- one of the most loved and
The company would invest in the ly to reach out to the large fan respected icons in India,” he said
marketing and launch of the base of Chef Sanjeev Kapoor. This as we wound up the interview.
outlet, along with the appropri- ensures both, participation and
ate PR that involves the popular footfalls leading to sales.” -Viraj D
chef Kapoor himself.
The product’s good quality
“Investment in fit-outs is about ensures word-of-mouth publicity,
15-20 lakhs. 2 months of inven- and to add to that, Chef Kapoor’s
tory must be kept in a team also holds culinary classes
well-stocked outlet,” said Saxena, for enthusiasts that allows
when asked about the invest- customers to connect to the
ment. brand.
The Marketing Strategies

The franchise stores will be well Contented Businessman
marketed by Wonderchef Ravi Saxena is a content man. He
through online and offline cherishes the role of a business-
formats. The first studio was man, and is also proud of the
launched by Chef Kapoor in a success waves Wonderchef is
glittering function that had a making through the country.
huge fan following, participation More than that, he cherishes his
and engagement with the outlet. partnership with the Chef.

STARTUP
AASAANJOBS
MAKING RECRUITMENT EASY FOR JOB SEEKERS AND COMPANIES ALIKE
A
n attempt to stream- seekers and the recruiters. From being a new entrant in the
line the unregulated field in 2014 to becoming the
recruitment market in The brainchild of Dinesh Goel an go-to medium through which job
India marks the birth IIT-Bombay alumni and also the seekers in the target segment,
of Aasaanjobs, an current CEO and co-founder of Aasaanjobs is attracting job
online marketplace for entry-lev- Aasaanjobs, the company uses seekers entrepreneurs and
el and blue collar jobs. Founded innovative technology-backed investors alike.
in November 2014, Aasaanjobs solutions that solve the problem
seeks to leverage India’s rich of recruitment in a largely The phenomenal journey of
human resource pool by making unstructured segment. Aasaanjobs: Aasaanjobs has
recruitment easy for both job been developed as an online

marketplace for entry-level and Dinesh Goel, "Aasaanjobs offers a It is not just about getting
blue collar jobs. Based in multilingual website to reach out investors on board for Dinesh
Mumbai, the company is funded to people with diverse back- and his team as he says " We
by IDG Ventures and Inventus grounds as well as a WAP wish to build an ecosystem where
Capital Partners and headed by website to engage with candi- Aasaanjobs and allied products
co-founder and CEO Dinesh dates still using feature phones. are able to guide and transform
Goel, a chemical engineer from We have a created an assessment people, from skilling to getting a
IIT-Bombay. module for jobseekerswhich can job, and one where all the
be accessed through mobile and stakeholders involved - manpow-
In the words of Mr. Goel, "the web platforms". er agencies, employers as well as
unregulated recruitment scenario job seekers - are able to trust the
in India was the main inspiration Employers can purchase credits system and gain maximum
in starting the company. We based on which they can shortlist benefit from it".
atAasaanjobs seeks to leverage and interview candidates,
our country’s rich human through a digital portal where Marketing strategies being
resource pool by making recruit- they can use multiple filters to adopted by Aasaanjobs: Since
ment scenario easy for aspirats select the right candidate for the our aim is to maximize our reach
as ell as employers". job reveals Dinesh. "Aasaanjobs on the candidate side, we
therefore functions as a market- regularly popularize the use of a
Today Aasaanjobs is fast becom- place of recruitment consultants WAP website to candidates who
ing the go-to medium through and placement agencies that are still use feature phones explains
which job seekers in the target able to help employers fulfill Dinesh as he underlines how
segment are able to transform their hiring requirements" Aasaanjobs is adopting horses
their lives and realize their career underlines the co-founder as he for courses strategy for market-
aspirations through technology. describes the simple but effective ing.
business model adopted by
A word on the founders: Aasaanjobs. "All communications on the job
Aasaanjobs is the brainchild of seeker side regularly state the
Mr. Dinesh Goel, a Chemical Aasaanjobs USP: Our USP is our free service that we provide, as
Engineering pass out from innovative technology-backed well as the ability of a candidate
IIT-Bombay with a host of solutions to resolve the recruit- to search for jobs near their
entrepreneurial experience of ment related issues in unstruc- home" says Dinesh.
working with some of the leading tured segments, says Dinesh.
companies in the world including "Asaanjobs offers a multilingual Although Aasaanjobs has done
Deutsche Bank and Channel V. website and a WAP website to both print and digital marketing
Dinesh is driven by his focus on engage with candidates using campaigns, "Since our business
disrupting the extremely friction- phones, andour assessment model allows an employer to hire
al recruitment industry in India modules can be accessed based on the number of valid
by making the process of finding through both mobile and web interviews conducted rather than
a job or identifying the right platforms" underlines the candidate contact data or
candidate quick, convenient and dynamic CEO of Aasaanjobs. postpaid basis, clients save on
smooth for all collaborators. their hiring costs and are able to
Funding and Finances: In 2015, adopt a smarter way to hire,
Business model adopted by Aasaanjobs raised a seed round something that we point out in
Aasaanjobs: Aasaanjobs uses of 1.5 million USD (lead by marketing collaterals on the
innovative technology-backed Inventus Capital and IDG) while employer side" shares Dinesh.
solutions that solve the problem in 2016, we raised 5 million USD
of recruitment in a largely in the Series A round (lead by Challenges Faced: Unlike the
unstructured segment. In the Inventus Capital, IDG and Aspada popular perception the going has
words of co-founder and CEO Mr. Advisors) reveals Dinesh. not been all smooth for Aasaan-

STARTUP
jobs team. The major challenge staffing has been growing at a budding entrepreneurs and
initially came from shedding that pace of 21% yoy, and is only set startups Dinesh shares the secret.
image of being just another to grow in the future which "Startups must always focus on
manpower agency reveals augers well for our business the scaling up productively,
Dinesh. "Once job seekers were shares Dinesh. We have already keeping unit economics in mind
convinced, looking at the various extended our footprint to Pune while designing and strategizing
technological and service and Delhi, and over the course of models of growth". This will keep
offerings, it became a little easier the next 2 years will be expand- them in good health in the
to bring traction. The other ing to Chennai, Hyderabad and present and times to come,
challenges were liasoning with Bangalore shares Dinesh as part shares the successful co-founder
partners and agencies, as well as of the future plan of action. "Our and CEO of Aasaanjobs.
fulfilling client requirements" tech product would be able to
shares the young CEO. connect job seekers with the -Pooja Agarwal
right employers, and with the
Eventually we are striking a chord assessment module available
with all stakeholders by setting online, candidateswould be able
realistic expectations and take to have a better idea which job
challenges to augment our role they are the most capable
learning”, smiles Dinesh. for".
Future plans and the road Tips for budding entrepre-

ahead: The recruitment and neurs: As a single mantra for all

STARTUP
MYSCHOOLDEPOT
A word on the founders:
MySchoolDepot was cofounded
by three friends Bharat Goel,
Ashish Gupta, and VivekGoel in
2015. Bharat worked at SEBI for
THE CONVENIENT SCHOOL SHOP almost a year after completing
E
his MBA from IIM Lucknow. He is
currently working in the educa-
very year parents make a buy all essential school supplies tion sector, where he is closely
bee line to various retail from the comfort of their home. working with multiple education-
shops to purchase al institutes. Ashish worked at a
school supplies like The journey of MySchoolDe- financial firm developing
uniforms, books and pot: My School Depot is a high-tech trading applications
stationary. In the burning heat marketplace for education sector. after completing his Masters in
parents accompanied by their A venture of Penpencil Technolo- Computer Science from the US.
children have to spend long gies Pvt. Ltd, the company was Vivek meanwhile has a keen
hours for their school shopping. incepted in 2015 with the mission interest in education and ecom-
& vision to revolutionize the merce space and is currently
My School Depot incepted in school supplies. MySchoolDepot handling the technology aspect
2015 is silently revolutionizing has officially partnered with over of MySchoolDepot.
the way school supplies are 100 schools and respective
bought by parents. Today vendors to provide authentic and Business model adopted by
MySchoolDepot is a preferred verified goods. MySchoolDepot: Our business
online portal connecting parents model is anchored by an innova-
with the students needs and In the words of Ashish Gupta, tive system that incorporates
delivering it right at the doorstep founder of MySchoolDepot convenience with right products
of their clients. “Parents can place order 24*7 on for parents, students, schools,
our website, so that they will not and vendors says co-founder
Brainchild of Bharat Goel, Ashish be shackled by the constraints of Ashish. "We have partnered with
Gupta, and VivekGoel, shopping times. The ordered industries best shipping and
MySchoolDepot has associated items will be delivered to their delivery companies which help us
with schools and vendors across house in 3-4 days ". deliver these products to
the country, so that parents can customer’s doorsteps in most

activities".
Challenges Faced: Our biggest

challenge was and is to keep up
the quality of our offerings
underlines Ashish. "It is critical
that we group the right products
based on students needs for the
upcoming session. Educating
customers is another one,
although customers are familiar
with e-commerce, but they are
not aware that they can buy
school supplies online with a
click of a button" shares the
young founder of MySchoolDe-
pot.
efficient way. We do charge a experience". The preferred
small commission from the vendors help MySchoolDepot in Future Plans and the road
sellers for listing the product and providing a standardized delivery ahead: The emergence and
helping them deliver the product experience and store pickup as popularity of e-commerce sites
to customers" explains the young an additional mode of delivery. have forever changed the
cofounder of MySchoolDepot. thinking and dynamics of shop-
Funding and Finances: ping in our county. I see this as a
MySchoolDepot USP: We MySchoolDepot is completely positive sign, and when applied
carefully work with schools to bootstrapped in all aspects for correctly, technology makes
create books, uniform and now. "After having a high beta everything easier says Ashish on
stationery sets based on the launch, we are now looking at the roadmap of ecommerce in
child's needs for an upcoming other avenues to generate capital India. "The success of our beta
session according to the school which will be used for market launch has given us a lot of
guidelines explains Ashish expansion. We are in talks with positive belief in our work. We
highlighting the USP of some great investors, and the hope to expand soon into various
MySchoolDepot. future is looking promising" says other states and closely work
Ashish as he explains the funding with more schools and vendors
"We use the best hyper local aspects of the company. to bring the ease of school
partners to deliver the goods in shopping to more and more
the shortest and safest way. We Marketing Strategies adopted customers. In the long term, we
pride ourselves in providing by MySchoolDepot: We worked would like to be a Pan-India
great customer service and put a closely with schools to introduce company which is the first choice
lot of emphasis on customer our concept to the parents for parents and students for the
satisfaction" underlines the through parent-teacher meetings, procurement of all kinds of
young entrepreneur in Ashish. flyer distributions in the schools school supplies" shares Ashish
as part of our marketing strate- and his team as MySchoolDepot
Growth Strategies: We have not gies says Ashish. ". Our represen- looks forward to take their
yet ventured into franchising but tatives helped parents order successful beginning forward in
have brought on a concept of directly through their mobiles the years to come.
preferred vendors says Ashish and tablets in these meetings. It
explaining the business strategies allowed us to build a great -Vijay
adopted by MySchoolDepot rapport with parents and helped
team. "Our hyper-local approach us clear their doubts and even
of integrating traditional offline simplify our process. We are
stores to the online marketplace focusing on the other traditional
is helping us reduce the order marketing routes like online,
delivery time significantly and social media, print-media and
improving the entire customer other customer engaging

STARTUP
TONETAG
REVOLUTIONIZING PAYMENT ECOSYSTEM WITH INNOVATIVE SOLUTIONS
I
n its quest to make payments makes use of sound waves to enable contactless payment
in the Indian financial system enable contactless payments on acceptance on EDC machine
seamless, cashless, safe and any device. using sound. Being the first
secure marks the birth of mover, ToneTag is certainly
ToneTag. As a sound based ToneTag being a software poised to be a leader in sound
proximity communication element is non-competitive to based contactless payment.
provider, ToneTag is revolutioniz- device specific payment instru-
ing the payment ecosystem with ments or any banking app and The journey of ToneTag: Tracing
their innovations. Tonetag's mobile wallets. Also they are the the journey of ToneTag, Kumar
unique patented technology first company on the planet to Abhishek, co-founder and

current CEO at ToneTag reveals experience like Apple Pay of the technology has the potential to
how Once a Singaporean friend west. completely redefine the way
asked him “Why is it in India we transactions take place as it
get candies instead of balance In the words of co-founder brings unprecedented advance-
cash?” We all have faced thisma- Kumar "We have more than 900 ments in fraud prevention"
ny a times in our past, but have million mobile phone users, so underlines Kumar on the role of
never given much thought about. can these mobile phones become technology in business evolution.
When I heard this statement from acceptance point? Can customers
my friend, I knew that it was an pay directly from any mobile they Funding and Finances: ToneTag
opportunity. While cashless have without really having a need has received series A funding
transactions and mobile wallets to swipe their cards ?ToneTag from Reliance capital in July 2015
are getting very popular world, makes all of these possible, it and is likely to raise more funds
in India, even card transactions plays an important role in in the future as the company
yet to reach out to many. As a enabling these bank account increases its footprint globally.
core banking service provider in holders to use their phone for a
Singapore, I sawthis in a new contactless, digital payment Challenges Faced: ToneTag is
light and after extensive research experience". addressing a few of the complex
and gaining expertise I with my challenges in the payment
friend Vivek Singh established Marketing Plans adopted by domainin a simple way,which
our venture to provide contact- ToneTag: We are mainly into B2B required a lot of convincing and
less payments facility in India. space explains Kumar as where education to impact on regulato-
we are giving our software as ry compliances and global
Business overview of ToneTag: SDK to Banks, Wallet players, security standards”, shares Kumar.
ToneTag uses sound waves to Issuers, Acquirers, Retailers and "As the mobile payment vertical
enable offline, proximity and enable contactless proximity is new here, hence a lot of
contactless payments on any communication, Payments, existing players look at us as
device. It has filled multiple location based services and competitors rather than enablers.
global patents and currently customer engagement services Ours is a product company
getting deployed at various among a multitude of other working closely with service
global locations including India. solutions. providers to bring a large pool of
As per Kumar Abhishek the consumers to a cashless ecosys-
current CEO and co-founder "Marketing activities are focused tem" reveals Kumar highlighting
"These technologies have huge on highlighting the USP and use the challenges faced by the
constraints and many have failed cases of ToneTag to the clients. company in the past.
to enable payment on them. At To be present at events where we Rewards and Milestones:
ToneTag, we are creating a rich can meet and interact with our • Selected as finalist by Citi for
and unique mobile payment clients" highlights the dynamic Citi Mobile Challenge to be
experience over 'Sound waves’. co-founder. demoed at New York
That is our primary and unique Role of technology in business
‘Tone’ part. In addition, we can evolution: As a part of our • Winner of Great Tech Rocket-
do the same using NFC as well, business we always try to bring ships as India’s fast growing
which other players are trying to innovation with our technology. technology company, an
do. That is the secondary ‘Tag’ This constant innovation helps us initiative by UKTI, TechHub, IAN
part. ToneTag SDK can be to deliver a secure and friction- &iSPIRT
integrated with any application, less contactless payment service
on any platform quite easily". to our customers in the India • Demo at Campus Google
explains Kumar. (London) as part of Great Tech
USP of ToneTag: Tone Tag can Rocketships where the compa-
enable payments through any "Recently, we introduced the ny receivedlots of appreciation
device – Laptops, PCs, Tablets, block chain technology for the and touted for giving a better
EDCs, mPOS, Smartphones, first time in India. We have payment experience than Apple
Feature phones and so on, always been at the forefront of Pay.
explains Kumar as it offers a disruptive technology in the
seamlessly digital payment fin-tech space. Block chain • Selected as Top 10 Product

STARTUP
Company in Asia. Wherein insists Kumar. brand stores, 14 large e-com-

TechInAsia put an article stating merce companies for COD
ToneTag to be an Apple pay for Tracing the future on the sector transactions, and thereby with 80
every man and ToneTag, Kumar goes o to million customers. These strate-
add that "ToneTag is making gic partnerships will make
• Selected as Finalist by Global Mobile Payments a reality for all ToneTag available on mobile
Payment Awards 2015 as best irrespective of the fact what payment apps used by billions of
payment deployment in Asia. phone customer is using and if it customers and 1, 90,000
is connected to internet or not. merchant terminals.
• Emerge 50 awards 2015 by As it works on any mobile device
Nasscom  without internet, making Advice for budding entrepre-
payments reach the last mile. We neurs: Believe in solving prob-
• Winner of Aditya Birla bizlab are here to play a role in enabling lems through Innovation. If you
our society and economy leap are constantly Innovating, you
• Selected for the top 10 product towards cashless. Keeping this will never be disappointed with
videos showcased at Startup mission in mind we approach and the results shares Kumar as his
India, an event initiated by the partner with the clients globally, mantra for budding entrepre-
PM. give them our solution as license. neurs and startups. "Listen to
Integrate the solution in their people’s advice and suggestions,
• Selected as top 10 product existing infrastructure and help but in the end listen to your
startups from India in inTech50 them enable payments on any heart to make the key decisions
2016 device and reach financial as you know the product and the
Inclusion". company more than anyone else.
Current market scenario and Also, Things will not be in your
the road ahead: Most mobile As part of its future growth and control all the time, so it’s very
payment initiatives have tried to expansion ToneTag aims to be important to find the right
address specific hardware or financial inclusion enabler balance". Lastly as an experi-
platform or particular segment. making proximity payments enced campaigner Kumar signs
This has led to negligible reach the last mile and to the off by saying that you should not
customer adoption. We at critical masses irrespective of worry about the competition as it
ToneTag have changed the game geographies, Internet connectivi- is sometimes good to have some.
by bringing technology innova- ty and hardware dependency.
tion which is platform, hardware Additionally in FY15-16 and -Sudipto
and segment agnostic. It enables FY16-17 ToneTag will associate
any phone to initiate payment with 34 large and mid-market

SUCCESS STORY
LOANADDA
OFFERING FINANCIAL SOLUTIONS FOR THE UNDER BANKED
W
hen technology banked consumers across the and NBFCs to create an easy loan
is there for globe. disbursal process for customers.
everything, why
it can’t be used Since its inception in September It is no surprise then that Loan-
to provide loan 2015, LoanAdda has scored over Adda is well on its way to fulfill
to people with limited banking 50,000 applications across 2,000 its mission “to improve financial
access? This thought gave birth data points per application. inclusion services in India and
to the New Delhi based Loan- Being one of the few key players promote hassle-free access to
Adda, a company delivering a in the market who provide loans”.
range of custom-made financial end-to-end services, LoanAdda
services with a focus on under has excessive tie-ups with banks

An overview of LoanAdda and tion’s Priority Sector Lending Funding and Finances: “We are
its business: LoanAdda is a model. currently bootstrapped and are
fintech company that uses pumping the revenues back into
disruptive technology to stratify Story behind the start: It all the business to expand and
lenders with borrowers with a started when the loan application grow”. Even after this, we are
focus on Priority Sector Lending. of founder Anshuman got cash flow positive and profitable
In the words of founder and CEO rejected by a bank one day. “It smiles Anshuman when quizzed
Anshuman Mishra "We facilitate was a long tedious process to on funding and finances for the
customized loans for businesses figure out why this had business.
and individuals with limited happened, only to find numerous
banking access". credit requests in my CIBIL report Marketing strategies of Loan-
that I had never made. This got Adda: LoanAdda has a mix of
LoanAdda offers a wide range of me thinking about the non-trans- online and offline activities.
financial services to the needy parent financial structure in our "Considering most of our focus is
that seldom have access to country" says Anshuman. on the PSL category, we look at
banks. The company uses big the offline medium as first touch
data analytics and artificial The parent company ADDVenture point with the customer. It helps
intelligence to connect them to Capital was started with the goal us build trust and a long-term
the right lender, using handhold- of adding capital to ventures that relationship with the customer,
ing approach at each step to are on an adventure reveals leading to positive word of
simplify consumer experience. Anshuman as the roots of mouth" explains Anshuman.
Our products are Home Loan, LoanAdda were sown.
Loan against Property, Personal When quizzed on partnering with
Loan, Business Loan, Working USP of LoanAdda: There are 2 other companies for marketing,
Capital Loan, NRI Loan and Credit USPs of LoanAdda explains Anshuman reveals how they have
Card shares Anshuman. Anshuman, one from the a team ethos in marketing
business point of view and the strategy. "We have also built a
A word on the founder: Loan- other from the product. As a strong associate network. Apart
Adda is the brainchild of Anshu- business, we focus on the from this online activities for
man Mishra who is also the CEO unbanked customers. The ones brand promotion and visibility
of the company. Based in New that lie in the Bottom of the continue to be the cornerstone of
Delhi, Anshuman earned his MBA Pyramid and are shunned away marketing activities"
– Finance from IIFT and later from banks due to poor credibili-
earned a 1 yr general manage- ty reveals the CEO of LoanAdda. Role of technology in business
ment degree from INSEAD, Paris. evolution: LoanAdda has
With over 15 years of profession- Explain in detail on how Loan- developed its own technology
al experience across banking, Adda is different as a loan that is uniquely customized
Consulting, Retailand venture aggregator, Anshuman explains allowing them to improve the
capital sector, Anshuman decided "We have product parameters of financial inclusion in India. "Our
to embark into the sphere of over 40 banks and NBFCs and by proprietary algorithm that runs
online loan market and ideated taking all of the client’s relevant on machine learning and AI, is
LoanAdda.Prior to establishing data points we are able to arrive constantly learning and develop-
LoanAdda, Anshuman gained at a higher probability of getting ing with each application and is
valuable experience in the loan the loan sanctioned. We plan to fast approaching accuracy to the
disbursement sector through add all microfinance companies real world decision making" says
stints in major financial institu- and all P2Ps also to the platform Anshuman on role of technology
tions.He began his professional to make it the most comprehen- in evolution of LoanAdda.
journey as a Product Manager sive platform for scouting for a
with ICICI, where he was respon- loan".
sible for managing the organiza-

SUCCESS STORY
Anshuman Mishra, CEO, LoanAdda

Rewards and Milestones: program". To bypass the Detailing the future plans of
• Sourced loans worth INR 1,124 challenges LoanAdda aims to LoanAddaAnshuman says "We
Cr and have processed more make a seamless technology have chalked our next 5-year
than 50,000 applications. based decision for credit in the plans keeping in mind the growth
coming future. in the market and the address-
• Selected in global summits like able opportunity size. We have
RISE, Hong Kong and Money- Current Market Scenarios and planned our team growth to
Conf, Madrid the road ahead: The market is meet the set targets and will be
exploding for online loans; the launching newer products in our
• Garnered the opportunity to lead generators are catering to portfolio. We aim to expand our
demonstrate its technological only fixed clientele of banks to services deeper into India in
prowess and logarithmic growth whom they give leads says coming times and have strate-
at various summits including Anshuman. "We’re the only lead gized launching across all major
RISE and MoneyConfis. fulfiller, which uses technology Tier-1 and Tier-2 cities".
for decision making of which
Challenges Faced: Explain the bank, thereby enhancing the Advice for budding entrepre-
constant challenges at hand, probability of loan happening. neurs: The one big set of advice
Anshuman reveals that "The The P2P sector is very nascent Anshuman has for all budding
financial landscape is fast and total disbursals are less than entrepreneurs is to be patient
changing; we face the challenges $1 Mn so we see a large space with their business models and
of Indian banking sector being empty which we’re filling fast" have faith their own ability even
analog. In fact no bank does underlines the young CEO of in the hard times.
online credit decision making LoanAdda.
and there are no standardized -Vijay
processes that can be fed into a

SUCCESS STORY | GLOBAL
NEWS REPUBLIC CHANGING THE WORLD THROUGH NEWS

S
EI interacts with Gilles into it. Just jump in. The water better know better. Informed
Raymond, founder of might be cold, there might be citizens are empowered citizens.
News Republic, a global sharks and strong currents, but if News Republic empowers
news revolution started you have a vision and the passion everyone with real-time access
in 2008, and with over to make it happen, then don’t and personally relevant content
12 million people around the hesitate for an instance. Find an to global news from curated
globe currently. entrepreneur to mentor you – media sources. Our readers get
most entrepreneurs are open to easy access to multiple
sharing their unique experiences. perspectives so that they always
How did you start your And build a great team. It took get the story straight.
entrepreneurial journey? me 20 years to realize that the
truest value of a company is its How do you plan your
I have always been intrigued by team. With them, together, you marketing activities? What
the challenge of making a can scale the steepest challenges. were the strategies that are
difference in the world. I did work The product is important. The /were successful for your
in the corporate world for a while team is always more important. business?
but could not resist the lure of
embarking on the entrepreneurial We have two simple strategies
journey. Please brief about your for growth: laser focus on
company, its business and its consumer experience and trusted
How satisfying is the role of an products? partnerships to ensure a robust
entrepreneur? content ecosystem. What do I
News Republic is a disruptive mean by that? First, we have built
It is the toughest, and the most global news media group on and continually enhance a fast
satisfying job, on the planet. You mobile for smartphones (iPhone and fluid user experience to
have all the rights and the duties. and Android), tablets and ensure that our readers get the
All the freedoms, and all the wearables (Samsung Galaxy Gear best possible news experience:
responsibilities. You start with etc.). We are starting a global seamless, with both the widest
hand that’s empty and a heart news revolution, giving the perspective and a uniquely
that’s full and the will to start power of information back to the customized news flow. This is
something from scratch. To people, connecting the world why we enjoy such high user
create something from nothing through mobile. News Republic ratings across the world and why
and that takes grit, offers news from over 1,650 we are both richly awarded and
determination, passion – enough licensed content partners, shares highly regarded within press and
to overcome the stresses, failures 50,000 unique articles every day, industry circles.
and workload along the way. I generating 3 billion news views
love this quote from Ben per month – that’s 1200 every News Republic is a Google
Horowitz who sold his company second. Over 12.5 million people Editor’s Choice, it is frequently
for $1.2B: “When I was an around the globe (40 countries, featured by Apple as a
entrepreneur, I slept like a baby. I 37 languages) read their news on noteworthy app and we won
woke up every two hours and News Republic apps (News “Best Mobile Media Publishing
cried.” But, despite this, the Republic, AppyGeek and App” at the Mobile World
entrepreneurial journey is one AppyGamer), spending an Congress, an award we accepted
like no other. I would not tread average of 6 minutes a day (3 on behalf of journalists
any other path. hours a month) on the app. everywhere. Which brings me to
our second strategy – building
Your advice for budding News Republic’s mission is to trusted relationships in the
entrepreneurs? provide information with purpose content creation and delivery
for engaged citizenship. We ecosystem. Unlike RSS feeders,
Stop finding excuses not to jump believe that those who read we do not scrape the web for

SUCCESS STORY | GLOBAL
content and provide it in o Design. Our design is simple, eyeballs, and high engagement
unlicensed, abbreviated snippets. straightforward and easy to are. So the mobile media market
We only distribute content that use. Better rating than will grow exponentially.
we have licensed rights for Flipboard on Google Play. Consumers will also increasingly
because it is the ethical thing to More focused on News. focus on the quality of content
do. Journalists should share in over its mere quantity and
the revenue gains from their o Publishers. We work with ubiquitous availability. They will
work. We also build strong publishers and license their become selective in their
alliances with OEMs like HTC, content; we don’t just crawl the consumption choices and so that
Acer, Samsung, Huawei etc. web for stories. quality content will regain
because today mobile device supremacy over clickbait. I am
screens (smartphones, tablets o Full Articles. We provide access very optimistic about market
and wearables) are key content to the complete article, not just trends.
consumption channels for a shortened version of the
consumers. Last, but not least, we content. How are the expansion plans
have also forged strong made?
relationships with the Android o Global. News Republic is
and iOS platform teams. That is available in 40 countries. And We have a management team
the marketing that we do – its all 37 languages. that makes decisions
about our readers and our transparently, collectively and
partners. o Underlying Technology. We nimbly. We do not shy away from
have a proprietary semantic conflict, we encourage robust
How have you been adopting engine that creates a map of debate and we always get to the
technology in your business? global news – this is our secret point where the team feels good
sauce that learns about your about moving ahead. Every
We have a proprietary semantic news preferences. We also have member of the management
engine that deploys artificial an advanced “tagnav” team has veto power so if one of
(algorithmic) intelligence to tag intelligence that creates a us uses the veto power, we do
global news correctly, so that we custom GPS for our global change direction.
can deliver a uniquely relevant news map.
news flow to each reader, in real How do you see your business
time. In today’s hyperconnected How the fund requirements are in the next 3 years? What are
world, most of us face the meeting? your future plans of
challenge of dealing with too expansions?
much content, rather than too We are VC funded and profitable
little. We deploy a learning in Europe. We reinvest profits for We are already in 40 countries
algorithm that narrows the growth in global expansion. and publish content in 37
content flow so you get the news languages. Not bad for a little
that matters to you rather than start up (For comparison, Apple
the noise that your doesn’t. How do you see the current News is in 3 countries and one
market scenario? language). Our focus will be to
How is NR different from strengthen our presence where
competitors? There is, and will be, robust we already have a footprint. We
growth in mobile media are learning to walk and readying
News Republic is different than consumption and monetization. to run.
Flipboard and other news Smartphone screens have
aggregators. Here are the key become the defacto content
differences. consumption portals for the
world and advertisers are finally
shifting budgets to where the

SUCCESS STORY
THE SUCCESS STORY OF

EASYFONE
INDIA’S MOST SENIOR FRIENDLY PHONE
T
he penetration of An overview of SeniorWorld: experience in diverse domains.
Smartphones in India SeniorWorld is India’s only
has meant new models company focused on the holistic Story behind the start: Tracing
and phone launches needs of Seniors, from health and the story behind the start, Rahul
virtually every day. wellness to technology to shares "I have just touched 50
While most companies focus on lifestyle. In the words of Mr. and am a part of a pretty large
enriching new features for the Rahul Gupta, Co-Founder & CEO, extended family from both sides
youth and business owners, SeniorWorld "Our mission is to of my parents. One could clearly
senior citizens are often left become India’s most preferred see that there were lots of
ignored. Unable to keep pace destination for seniors. We are un-fulfilled needs, outside of
with changing technology, senior building a wide range of prod- some basic stuff that one saw
citizens find phone features ucts, services and engagement elders struggle with. And like I
complicated and not very user avenues for seniors, with the keep telling my much younger
friendly. support of like-minded partners. co-founder, I wanted the eco-sys-
Through these, we aspire to tem to be more senior friendly by
Changing the situation, Senior- create an ecosystem that the time I reached my senior
World, a Gurgaon headquartered supports seniors in ageing hood."
company has come up with positively and leading more
Easyphone which is focused on fulfilling lives". USP of SeniorWorld: The USP of
the holistic needs of seniors SeniorWorld is its focus and drive
making it most senior-friendly A word on the founders: on one niche segment and that
feature phone with unmatched SeniorWorld is the brain child of segment alone. "We are solely
features. two friends Rahul Gupta and MP focused on Indian Seniors. While
Deepu. Rahul Gupta, Co-Founder there are many companies out
The brainchild of Rahul Gupta, & CEO, is a CA by qualification, there that are making products
Co-Founder & CEO, SeniorWorld and is a corporate professional that are also suitable for Seniors,
has been inspired by seniors who with over 25 years diverse ours is the only one that designs
wish to redefine the retired industry experience.MP Deepu, and conceptualizes products and
person stereotype and live their Co-Founder & COO is a telecom services keeping ONLY seniors
life to the fullest. industry veteran with 20 yrs of and their requirements in mind"

sense of humor. In fact, as per a One other thing that we are
lot of Industry benchmarks, our really proud of is our 32k strong
FB community of seniors is the community of seniors on our FB
probably India’s most engaged page which is growing at a fast
social community”. pace says Rahul. The level of
engagement and participation is
Role of technology in business fantastic and heartwarming and
evolution: We have a 360 we keep introducing fresh
approach when it comes to content to keep the engagement
technology and the emphasis will high smiles a proud co-founder.
also be on technology adoption
explains Rahul. "While lots of Funding and Finances: Currently
tools are available, the challenge SeniorWorld is self funded but
though will remain on how to with growing success, the
keep it simple for our segment, company will be brining investors
Rahul Gupta, Co-Founder & CEO which may be a little technology on board in the near future.
SeniorWorld “shy” because of a variety of
reasons". Market Scenario and the road
says Rahul underlining the ahead: We see the Indian market
importance of its core niche Challenges Faced: Like any for seniors’ products and services
segment. "So if you were to look venture catering to a completely at a very exciting growth phase.
at the Easyfone and compare it new set of needs and market, we In terms of pure numbers,
with other products, you will are constantly exploring the best Seniors are growing at more than
immediately see why it is India’s ways to reach our customers double the growth rate of the
most senior friendly phone" shares Rahul when quizzed on Indian population and people
smiles a beaming Rahul. challenges faced by the company. over 60 comprise more than a
"The seniors segment on the fifth of Indian population very
Marketing activities adopted Internet is also not large, so we soon explains Rahul. ". This is a
by SeniorWorld: Explaining the do reach out to adult children to long term market requiring
marketing related activity Rahul enhance awareness about patience and resilience and
explains that "For the Easyfone, SeniorWorld and our products. having entered this now, we think
we offer a 21 day, no questions We have the double responsibili- that will be defining many best
asked “money back guarantee” if ty, and hence challenge, of first practices in terms of designing
our customers are not satisfied convincing the adult children to for and marketing to Seniors.
with the Easyfone for any reason. invest their trust in us by buying With increasing awareness,
That is a reflection of our confi- our products for Seniors in their seniors’ growing independence
dence in our product and it has family, and then to also win the and proliferation of nuclear
helped us build trust with our trust of Seniors through their families in India, the market is
customers". ultimate usage of our products going to grow very fast in the
and services" says Rahul explain coming 5-10 years" says the man
The company is focused on in detail how the company plans behind Easyfone.
getting feedback from seniors to bypass the challenges faced.
who are the real drivers of the Advice for budding entrepre-
company. Rahul explains that it’s Rewards and Milestones: neurs: Rahul Gupta the
supremely important that seniors Easyfone has received good co-founder and CEO of Senior-
relate with our brand and our reviews and tons of ‘gratitude’ World share a threefold mantra
offerings. “For the digital seniors, mails from thankful sons and for all budding entrepreneurs.
we connect with them on Social daughters, whose parents finally "Chase your dreams. There’s no
Media, primarily Facebook. This have a mobile phone that they better time to pursue your
has worked great for us. We’ve can operate easily (‘operate’ here passions than now. Focus on
got terrific response from seniors means reading, dialing, typing, fundamentals and be resilient.
on Social Media. Seniors give hearing and calling for help) and There are no short cuts to
their comments thoughtfully, are have conversations with their success" says a smiling Rahul.
ever-ready to adopt new ways of families.
thinking, and they have a great -Pooja Agarwal

TECHNOLOGY | GADGETS
MOTO G-4 PLUS V/S XIAOMIMI 4

M
otorola and Xiaomi which the phone seems a tad expand the memory of the Mi 4.
are both well larger than its predecessors. The It comes with 16GB of storage
established brands device is fairly slim with even space, although there are
that have managed weight distribution, so you won’t rumours of a 64GB model in the
to create a niche feel any added weight when works.
for themselves in the Indian holding it.
smartphone market. Both brands Xiaomi also falls behind in the
have made a name for them- The Xiaomi Mi 4, on the other camera department. The phone
selves specifically from catering hand, has a different design from carries a 13-megapixel rear
to the budget requirements of its predecessor owing to a more shooter, while an 8-megapixel
the masses. traditional shape that’s seen in camera is set up on the front
Samsung and Apple devices. A face. The shooters are decent,
Motorola, after their acquisition 5-inch full-HD 1080x1920-pixel but won’t quite reach up to the
by Lenovo, ousted their first IPS panel dominates the front, 16-megapixel shooter with f/2.0
Lenovo branded fourth genera- with very little area left at the aperture and Phase Detection
tion Moto smartphone. The Moto bottom, and the sides are flat Autofocus (PDAF) on the Moto
G-4 Plus is a better equipped with shiny stainless steel rim G-4 Plus.
device than the Moto G4, with running around.
improved camera and software. The G4 Plus has non-removable
Xiaomi, a name that cemented Design-wise, Motorola’s device is 3000mAh battery which provides
itself under the Rs 10,000 mark, more of a looker than the Mi 4. enough juice to take you through
launched their slightly expensive the day. The Mi 4, on the other
Mi 4. The latest flagship is Specs & Features hand, has a slightly bigger
coming after the success of the The Moto G4 Plus hides Qual- battery at 3,080mAh.
Mi 3, which is no longer available comm's Snapdragon 617 SoCoc-
in the market. ta-core chip running at 1.5GHz, When considering performance,
and 3GB RAM and 16GB storage, both devices are worth their
Design which is a good bargain at this money. Motorola’s device takes
Moto G4-Plus has the same price. Xiaomi’s Mi 4, meanwhile, extra points for design and feel,
iconic feel as Motorola’s previous carries a Qualcomm Snapdragon while the Mi4 makes up in
line-ups. The curved foam factor 801 with four CPU cores running performance and battery life.
with metal frame provides good at 2.5GHz and an Adreno 330 GP,
grip and feel when handled. as well as 3GB RAM.
-VishnudasNandan
There’s a 5.5-inch full-HD TFT While the Moto G4 Plus has a
display in the front, owing to slot for microSD card, you can’t

TECHNOLOGY
HOW TO PROTECT DATA HACKING FROM YOUR
SMARTPHONE
Y
our smartphone may fortification if they are to be blackmail and extort money from
be having a compli- shielded from the spying eyes of people. Keeping your sensitive
cated password; you hackers and digital criminals. personal information safe with
might even have a Granted that ordinary people are proper cyber security can help
folder lock or security not at much risk than govern- you from being vulnerable in the
apps installed. But it won’t make ment agencies from being digital world.
your device impenetrable to hacked and robbed of informa-
hackers. tion. Passcodes
This is the minimal security that
And it’s not only phones. Most However, financial and personal people are expected to adhere
electric devices need strong information could be used to to. Having a four-digit passcode

is like locking your front door. Fingerprint scanners can lessen will lock your phone screen with
Get a six-digit passcode, and you the pain, until someone cuts of a passcode and display a custom
have a stronger fence that is your finger to scan the phone!! message with a phone number,
much harder to crack. so the finder can contact you.
Encryption
Add letters, special characters Apple has integrated iPhones Another app called Activation
and numerals in your password running iOS 8 or later with disk Lock is a tougher cookie since it
to make it tough to crack. With a encryption. This allows the data renders the phone unusable, thus
longer password, it’s harder to stored inside the phone safe effectively disabling thieves from
guess and a stranger would have from extraction. selling the device. Unless you
to sweat a great deal to pry it unlock it with the Apple ID, the
open. In Android devices, the setting is phone can’t be reactivated.
available but you would have to
If you set a self-destruct feature turn it on. The setting is available Android has a store of such apps
that will activate if the password by default in the latest Android in their Play Store that can be
is typed incorrectly after a fixed version, so if you choose, you can downloaded and activated to
number of tries, you have a turn it on in your phone’s prevent theft and robbery of
better chance of keeping your settings. data. You can also remotely wipe
information safe. There’s such a any data in the phone, prevent-
feature in the iPhone, where the Device Finders ing it from being used by
phone cleans itself after 10 tries There are applications that will strangers and hackers.
of incorrect password. help you find your phone if you
lose it. iPhones have a default -VishnudasNandan
However, it can backfire if you app called Find My iPhone,
forget the password yourself! which, when put in Lost Mode,

TECHNOLOGY | GADGETS
PEBBLE
SMARTWATCH NOW IN INDIA

I
f you are looking to buy a Eric Migicovsky, Founder & CEO extended battery life. The Pebble
Pebble Smartwatch from the of Pebble, announced that they Time Round offers 2 days charge
US, stop right there. Pebble were excited to carve their niche while the Pebble Time Steel
Technology Corp has in the Indian markets. The offers up to 10 days of life.
entered the Indian markets, company is holding a series of
and you can now grab hold of hackathons to reach out to A few days ago, the company
the handy watch with local hundreds of developers in the ousted an update to Pebble
ground support. country, with an aim to create Health, aiming to provide
valuable content for their improved information experience
There’s the original model, consumers. through graphs on the compan-
Pebble Classic, along with newer ion smartphone app. It also
ones like the Pebble Time, Pebble Pebble Smartwatches are com- offers enhanced auto-detection
Time Round and Pebble Time patible with both iPhones and of runs and long walks, as well as
Steel. While the older version Android smartphones. They sport new activity insights in the Time
costs only Rs. 5,999, the newer an e-ink display which enables it series, and Smart Alarms.
models will set you back by to stay on for almost seven days.
double that price and more. The Classic Pebble Smartwatch Pebble has a dedicated app store
has a black-and-white display, for its line-up. There are over
It’s not that Pebble smartwatches which isn’t surprising since it was 13,000 apps and watch faces that
weren’t available to Indian the first of the lot to enter users can make use of. With over
customers. You could buy one off shelves. The later models, like the 20,000 users already in the
Pebble.com, but the hassle of Time range of smartwatches are country, and a noticeable online
paying dollars and then having equipped with a colour display presence, Pebble hopes to
them shipped to the country was plus an LED backlight. expand and reach out to a bigger
quite irksome, which can now be share of the populace.
done with. The Time range of devices is
quite similar in functionality,
except for the added feature of

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AUTOMOTIVE
4 BEST MILEAGE
MID-SIZED CARS IN INDIA
A
utomakers constant- Manufacturers are tweaking the Let’s take a look at four of the
ly strive to manufac- existing engines or bringing in mid-sized cars that go easy on
ture vehicles that new powertrains to produce a the money and high on the fuel
offer better mileage better fuel economy. There are efficiency.
along with engine many models currently rolling in
performance. This helps increase the market with new powertrains
sales as well as leaves their and engine specs that have
customers satisfied. proved to consume less fuel for
the distance driven.
Maruti Swift Dzire Now available in both petrol and Petrol Mileage- 18kmpl in city
diesel variants, the Swift Dzire and 20.85kmpl diesel
Competition among cars is has taken control deftly from
mostly centred around the fuel rivals. The diesel motor is a Price- Rs. 5.08 lakh to Rs. 7.82
efficiency exhibited. With 1.3-litre MJD unit, while the lakh
customers scrutinising mileage, petrol engine is a 1.2-litre motor.
Maruti has revamped their Swift
Dzire, giving it a facelift, along Diesel Mileage- 23kmpl city and
with updated features. 26.59kmpl diesel

Maruti Suzuki Ciaz
Another of Maruti India’s boys, the Ciaz is touted to be a replacement for the SX4 mid-size saloon that
caught rage a couple of years back. The car is available in both petrol and diesel variants, and both offers
respectable mileage to the driver.
The diesel variant is fitted with a 1.3-litre multi-jet unit that holds 89bhp and 200Nm of peak torque. The
petrol engine carries a 1.4L motor that churns out 91bhp and 130Nm of torque.
Diesel Mileage- 23kmpl in city and 26.21kmpl freeways

Petrol Mileage- 18kmpl in city& 20.73kmpl on highways
Price- Rs. 7.17 lakh to Rs. 10.32 lakh
Honda City
Honda parted the curtains off their diesel line-up with the City. The sedan carries a diesel engine and became
the country’s most fuel efficient car, raising the Japanese automaker’s sales graph.
The diesel variant of the City sports a 1.5-litre i-DTEC unit producing 99bhp and 200Nm of torque. The
gasoline version, on the other hand, has a 1.5-litre i-VTEC motor that churns out 117bhp and 145Nm of
torque.
Diesel Mileage- 23kmpl in city and 25.8kmpl diesel
Petrol Mileage- 18kmpl (Manual), 19.1kmpl (CVT)
Honda Amaze Compact Sedan
After the City gained the spotlight, Honda ousted their first ever diesel car in the country – Honda Amaze.
You will find under the Amaze’s hood the same 1.5-litre i-DTEC unit seen in the City sedan. And as with the
City, the engine here produces 99bhp and 200bhp of power. There’s a petrol variant of the Amaze available,
although most people prefer the diesel variant.
Diesel Mileage- 22-23kmpl in city traffic and 25kmpl on highways
Petrol Mileage- 15kmpl in city and 18kmpl on highways
-VishnudasNandan

FINANCE
6WAYSUNCOMMON
TO SURVIVE LEAN TIMES

T
imes they are a chang- brick-and-mortar as well.Contact avenues.
ing" sang Bob Dylan. your former customers and start
The fact remains that a sales referral program that can You can work out modalities like
the cycle of time spares help you increase your sales in sharing your clients with multiple
none. You may have the the lean period.Whatever you do, vendors in return for their clients
best business plan, the best avoid stagnating. or other business benefits like
product in the market,and a great lower overheads or shared
team, but if the times are bad, 3: Contact former customers: distribution. This was you as well
you may well be left with singed A lean period is the best time to as your partnering company can
fingers and red figures on your contact your former customers get an additional potential
balance sheet. and make use of the downtime to customers to approach.
understand customer behavior.
The good news, however, is that Consider a lean period as a good 6: Think deep, but act: Business
one can make use of the good time to take time out from the owners can do all the homework
times and formulate a strategy usual grind of sales and market- but a lean sales period is
for the lean period. Here is a look ing and understand the pulse of depressing, to understate things.
at some uncommon ways that the market, and where your This means many business
you can use to keep your product can improve over its owners lose out on the motiva-
business afloat during lean times. rivals. tion to beginning a new process
to counter the lean period.
1: Reinvent your business: 4: Try selling additional
The first thing you should ask products to existing customers: Think or worry about your lean
yourself when faced with a lean When faced with a lean period, it period, sure.But also make sure
phase is whether your product or is a good idea to try selling you devise a strategy to counter
service has become outdated. additional products to your the phase and act. Nothing can
Take a long, hard look, and if you existing customers. There is no ever be resolved just by planning
the answer is 'yes', then make use harm in offering your existing and not acting. So keep your
of the lean period to reinvent clients a discounted deal for thinking cap on but also make
your business. packages so that they can sure to act in your plans as soon
increase their overall sales as possible.
Instead of selling the same volume.
product over and over again, Even if clichéd, it is true that
understand the changing needs For example, if your existing tough times don’t last but tough
of your market. Try developing a customer is making a purchase of people do. When faced with a
futuristic product in your niche Rs. 1000 from your company, try lean phase, keep the motivation
segment. Consider how to plan and increase that to Rs. 1500 for levels high and adopt some
and market for an innovative each customer as a yardstick by innovative business strategies to
product for the future instead of bundling other products at accelerate your exit from the lean
worrying about the lean period. discounted or concessional rates. period.
2: Find alternate sales channels: 5: Team up with other vendors: -Vaibhav

Every business requires sales to Lean periods often run parallel
stay afloat. If you find sales across sectors. A lean period is a
dipping as they often do in a lean good time for you to join hands
period, look at new channels for as a collaborator with other
sales. For example, if you have business operations and offer
not been selling online, make a collective sales programs. It can
start by selling online. Similarly, if be in the form of exhibitions in
you had been focusing on just new territories by sharing costs
online sales, then focus on or improving sales in existing

FINANCE
CAN P2P LENDING LEAD TO MONEY LAUNDERING?

RBI WEIGHS IN
I
ndia may be a traditional operating in a transparent and
hotbed of business and With the rise in popularity of fair manner.
entrepreneurship with a alternate sources of funding, the
thriving ecosystem of small Reserve Bank of India is proac- Need for regulation for alterna-
and medium enterprises, tively monitoring the trend with tive lending platforms: With the
but raising finances continue to likely guidelines for such growing popularity of alternative
be a pain point. To offset to some platforms. modes of funding, the lack of any
extent the difficulty Indian security guidelines was one big
entrepreneurs and SMEs face, Here is everything you need to negative against such lending
alternate sources of funding such know about the RBI's concerns in platforms. Financial experts
as crowd funding and P2P this regard and how it plans to believe that with RBI taking the
lending platforms have emerged ensure P2P platforms provide lead and coming out with
as viable options. clear economic benefits while guidelines for such lending

platforms, it augurs well borrow- beyond India's borders, the What this means for potential
ers, lenders and the sourcing transactions would have to borrowers: As a potential
platforms. satisfy the norms under FEMA borrower, you will be able to
provisions to ensure transparent borrow using alternate lending
As of now the regulations are in a transactions. The RBI has also platforms with ease once regulat-
draft proposal stage, but eventu- suggested that to avoid any ed. Currently, the risk is too high
ally RBI wants to bring in all such threat of money laundering, the when using such platforms for
alternative lending platforms money must flow from the lending with no checks in place.
under the Non-Banking Financial lender’s bank account to the Once RBI regulates the platforms,
Company (NBFC) purview. RBI borrower’s bank account directly they become more transparent
will then issue notifications with no intermediary in between. resulting in easier loans with a
ensuring lending platformswill common regulation code.
conduct transactions as per Focus on easy, transparent loans
regulated guidelines of the and recovery: All the suggestions Snapshot of important RBI policy
government. in the RBI draft of proposals are proposals for alternate ending
aimed to make all alternate platforms: Here is a quick
Overview of proposed RBI lending platforms transparent snapshot of RBI proposals for the
regulations: Here are some of the and under the central guideline alternate lending platforms:
proposals put in place by RBI to framework.
bring transparency in alternate • To act only as an intermediary
modes of funding. Currently, lending platforms are between borrower and lender
not regulated by any single
As per the proposed guidelines policy, which makes them a high • Cannot give any assured returns
of the Reserve Bank of India, all risk affair. There is also no clarity or other unfair advertisements
lending platforms would play no on the norms adopted by such
role other than an intermediary platforms for loan recovery • To keep a check on creditworthi-
bringing together the buyer and especially in case of defaults. ness of borrowers listed
lender. This role can be equated
to the ecommerce marketplace With the new guidelines in place, • Money trail to move from
model where e-commerce principally all alternate lending lenders bank to borrower’s bank
players are allowed only to act as platforms would be governed by directly
a platform between buyers and a single policy, ensuring lenders,
sellers. borrowers, and the government • Alternative lending platforms to
can take decisions in a transpar- come under NBFC recovery
The platforms will not be allowed ent manner. regulations
to give any surety on assured
returns, maintaining financial What this means for alternate
independence. The platforms lending platforms As all alterna- -Vaibhav
would continue to check the tive sources of lending would
suitability of a lender and even come under NBFC category, they
check the creditworthiness of the would have to comply with the
borrower to make sure there are norms of a minimum capital of Rs
no unwanted defaults or NPAs. 2 crore along with a prescribed
leverage ratio. This effectively
Lending portals would also have suggests that alternative lending
to follow strict guidelines for platforms could also operate in a
advertising to ensure there is no brick and mortar fashion once
mis-selling of any kind on the the new guidelines come into
platform. If the financial transac- effect.
tions form a trail that extends

TAX
USE
PRESUMPTIVE
TAXATION TO YOUR BENEFIT

A
re you a working under the ambit of presumptive How PTS is different from
professional or a taxation scheme provided their traditional method of tax
business owner with gross receipts from the profes- calculation
an overall annual sional service are below the When you file your income tax
turnover below Rs. 2 maximum limit of Rs.50 Lakhs in return using the presumptive
crore? If yes, then you can makes a financial year. For small scale taxation system (PTS)methodolo-
use of the refined presumptive business owners, the total gy, you are not allowed to claim
taxation scheme (PTS) turnover for the financial year has deduction under section 30 to
announced in the Union Budget to be below the threshold limit of section 38 of the IT Act. This
2016-17. Rs. 2 crore. includes depreciation benefits
that you may get under the
This effectively means you will What this means for business traditional system of tax calcula-
not have to spend hours and owners tion. With the presumptive
weeks in maintaining your book As a business owner, if your taxation system, the deductions
of accounts. You can now focus annual turnover is below Rs. 2 and depreciations are accounted
more on your core business crore for the financial year, you for in the computation of the rate
operations while computation of can file your income tax based on of income tax as announced by
income tax would be done on an the presumptive limit of 8%. That the Finance Ministry.
estimated basis under section is, you can estimate your income
44AD of the income Tax Act. at 8% of the total turnover of Snapshot of the Presumptive
your company or gross receipts Taxation Scheme:
Here is everything you need to of your business sales. • You do not need to maintain
know about presumptive taxation books of accounts, or profit and
and how you can use it to your Suppose you own a business loss statements, and do not
benefit. entity which does an annual need to get them audited with
business of Rs 1.5 crores for the a chartered accountant each
What exactly is presumptive next financial year. Now, instead year.
taxation scheme? of chalking down and computing
The presumptive taxation scheme your profit onthe account books, • You pay tax on an estimated
has been in existence for many comparing balance sheets and basis depending on the annual
years. Under the scheme, you do ledgers, and hiring the services turnover of your business.
not need to maintain anaccount of a chartered accountant and his
of all your transactions and keep team, you can easily compute • The rate of income tax for
all your Profit &Loss books your company’s income tax.The presumptive taxation is fixed at
updated. Instead, you are business income chargeable to 8% of the annual turnover.
allowed to file your income tax you would be 8% of Rs. 1.5
on a presumptive, or estimated, Crores,which comes to Rs. 12 • You business should have an
basis at a minimum prescribed Lakhs. annual turnover of less than Rs.
rate. 2 crore.
Can you declare a higher
Eligibility for filing taxes under income tax assessment? • Presumptive taxation system is
the presumptive taxation As a business owner, you are free available only forresident
scheme to declare a higher income tax individuals, resident Hindu
Earlier, the presumptive taxation assessment over the mandatory Undivided Families (HUFs),
scheme was open to all resident 8% of your total turnover. The 8% resident partnership firms, and
individuals, resident Hindu tax rate is just based on estima- working professionals.
Undivided Families (HUFs), and tion.If you have higher profit
resident partnership firms. margins, you can declare a higher -Babu S
income tax over and above the
In the annual Union Budget of 8% of your total turnover for the
2016-17, the Finance minister has financial year.
included working professionals

HOW TO
HOW TO CREATE AN EFFECTIVE
VIRTUAL TEAM
C
hanging times have So, if you are looking to create a members and facilitate mutual
ensured that old ways virtual team for your business trust.
of doing business entity or already have a team in
have been replaced place and want to increase their Only when each member of the
by more efficient and productivity, here is a look at five virtual team understands their
innovative ones. The use of such golden rules that can help. role irrespective of their position
virtual teams is one such and have complete trust towards
phenomenon that has increased 1: Ensure a trust-filled work each other can a virtual team
in popularity over the years. environment: One of the bare deliver the results.
essentials of having a virtual
Once confined only to big IT office with a virtual team is to cut 2: Think long term: Performance
companies who had a global down on any trust deficit. You of virtual team players often
presence and could not assimi- cannot know if your team peaks when they are working in
late everyone together physically, member has been running the the same work environment over
virtual teams are now part of hard yards or taking it easy. The a period of time. Constant
many businesses and sectors. best way to build a successful chopping and changing of the
team is to trust your team members and team leaders of

your virtual team is likely to have partly due to the 'out of sight, To avoid any such communica-
a negative effect on work out of mind' syndrome. tion gap, ensure the team
parameters including productivity members are interacting with
and trust development, apart To create a well-developed virtual each other. Your company should
from reducing performance. team, focus more on having an ensure it has a communication
experienced and motivated team charter where any team player
So, when you are setting out to leader rather than focusing on can easily communicate any
create a virtual team, think long individuals for the team. A good issues or thoughts to those
term and give your virtual team leader can increase productivity higher up the hierarchy.
players a longer rope to deliver with even a mediocre team by
on their goals. Of course, keep a raising the bar. If you have a global team in
look out for some warning signs place, ensure that you finalize a
where team members are 4: Ensure physical contact: A common language for all com-
communicated to properly, but virtual team works in a virtual munication to avoid any misun-
the productivity is low even after environment, but the best way to derstanding or any team mem-
offering a conducive work bring the team together is to bers feeling left out. Cultures and
environment. ensure physical meetups among languages may differ, but the
team members once in a while. essential human traits remain the
3: The team leader matters: You can choose the duration of a same. Ensuring a positive work
Irrespective of whether you have physical get-together as per the environment for your virtual
a virtual team or an in-house team preference. When team team members will lead to better
team working from your brick members work in physical results over a period of time.
and mortar office, the role of the proximity, spend time together,
team leader is crucial. In a virtual and exchange ideas, it leads to Working virtually is now a given
environment, the role of a team an even better understanding in many industries and can lead
leader becomes even more between team players when they to reduction in overhead costs
critical as he or she cannot lead work virtually. and increasing productivity.
by example if he or she needs to Ensure you give your virtual team
demonstrate the long hours of 5: Have a communication the best possible environment to
work being put in. Also, keeping program: Since your virtual team thrive so that your business
the motivation high for all does not come face to face often grows by leaps and bounds.
members working in a virtual enough, it may lead to a commu-
environment is a challenge, nication gap kind of a situation. -Sudipto Ghosh

HOW TO
SIMPLE TIPS TO BOOST FOCUS AT A

HOME OFFICE
W
orking from for multitasking between office set up their home office. An ideal
home once and household chores but if not home office should be in a
limited to a balanced correctly the same secluded spot like in a home
handful of home office can be detrimental extension or a garage to allow to
entrepreneurs to your business. peaceful working environment.
has today become a regular You can also consider setting up
affair. The increase in the number Here are some simple but your home office in a basement if
of startups and high rentals for effective tips that you can use to you have access to one.
office space has meant many new boost productivity in your home
companies set up base in homes office. You may believe having a home
with a home office in place. office closer to your family may
1: Choose your home office help you manage household
Working from home may be a spot wisely: A common mistake chores more effectively but any
great idea as it can help you save many entrepreneurs do is to use distractions like noise from the
on office rentals and also allow any empty space that they find to TV or from the kitchen are sure

to put your work off track. So and lighting for their office inside of your office space. Do
take some time in choosing the space. Imagine having a home not consider replacing natural
best spot for your home office office where there is want of greens with artificial ones even if
even if it means shifting and natural light with dark colors. they appear to be more perma-
changing some old furniture and Using such an environment can nent.
preparing space for your home not only bring in depressive
office. thoughts like failure but is also 5: Set up regular working
akin to lack of productivity at hours: It is very easy to get
2: Cut out the distractions: You work. carried away while using a home
do not want to set up your home office and not focus attention on
office in a place which has a lot Sunlight offers us a lot of work as much as one should.
of distractions. Be it sound from vitamins and minerals apart from Make sure you keep your work
the door or the nearby road or being the light of our souls. Make life and personal life separate
from your neighbors or your own sure your home office has access and set up regular working hours
house. Make sure you are cutting to direct sunlight as much as for your official work. Working
out the distractions by blocking possible. Use light and vibrant from home office requires some
any unwanted noise and using colors which make the office discipline and only if you manage
large glass windows to block any mood uplifting and somber. Use to focus your attention should
noise from the road etc. of whites, off-whites and pastels you opt for one.
are better suited than dark grays
If your office is in a larger room and blacks.
trying using artificial panels to Working from home is a great
cut out distractions and opt for 4: De-clutter and Go Green: way to balance your work and
office cubicles instead of using Make sure your home office is personal life allowing you to do
the entire long stretch of the absolutely de-cluttered and holds more work. You do not have to
room. Sliding doors, panels, only those things that you need spend long hours travelling to
curtains and blinds are all for office use. Any unwanted old office or worrying about office
effective measures to make your furniture, racks, books, or other rent but home office can also
office space cut out any unwant- such materials should be lead to lack of productivity.
ed noise and distractions. You removed from the office space. Opting for the above mentioned
can choose the most suitable as Use a well endowed chair and tips will make sure your home
per your needs and budget. table for your official use. office is productive and happy
space for you and your employ-
3: Focus on color and lighting: Trying decorating your office ees.
Many home office users tend to with greens using plants in pots
overlook the significance of color placed strategically outside and -Vaibhav

HR
THE CURRENT EMPLOYMENT SCENE AT

STARTUPS
I
f you would have asked any startups by well know venture
fresh college pass out in Startups are here to stay: capitalists and angel investors
2008 to choose between The first thing that most fresh also helps startups to keep
working for a well known employees look for before walking on their journey without
MNC or a startup, chances joining any company is whether risking going bust in a short
are that most would have given the company would be a good term.
the startup a skip. With changing option in the long run. After
times as India has adopted a years of hard work the worst Increasing investments augur-
massive startup ecosystem, today thing any pass out could possibly ing well for startups: With a
fresh pass outs are equally keen do to his career is to join an well placed startup ecosystem,
to get absorbed in startups which unknown entity that disappears Indian startups have been the
value their talent and help them from the globe in a few months focus of attraction for many
grow in their respective careers. down the line. foreign and domestic investors.
As much as $9 billion was
Here is a look at the current With startup ecosystem placing pumped into various Indian
employment scenario for Indian its footprint in the Indian system startups in the year 2015 alone.
startups and how potential for good, potential employees Add to it the fact that there are
employees are more open to are considering working for many startups that are still
work for a startup entity today startups that have the potential bootstrapped and may opt for
than ever before in Indian to grow big in the coming years. funding in the near future. With
business history. The inflow of regular capital in some of the well known venture

capitals and angel investors fresh and experienced employees
putting their money and bets on are now working for various Startups creating organic job
multiple Indian startups, surely startups as the ecosystem gives growth: Startups have already
working for such a company is an opportunity to express their started creating organic job
not out of bounds for fresher as talents and grow with the growth in the Indian market.
well as experienced individuals. company. Someone who has According to recent data startups
been with any startup entity from are likely to cater to more than
Changing mindset of potential its initial phase is much more 5000 jobs in the current year.
employees: One big advantage likely to rise up the ranks com- Many more startups are attract-
that Indian startups have over pared to someone who joins the ing potential employers irrespec-
their international peers is the company at a later stage. This tive of their funding stage.
availability of fresh human chance for organic growth is a Working for a startups entity
resource which is capable and decisive clincher for employees today is not as surprising as it
intellectually ready.Both experi- to opt working for startups. was five years ago. With chang-
enced employees and fresher’s ing mindset, the growth of
today are more eager to work for Successful co-founders attract startup ecosystem, helpful
startups than ever before. With human resource: Many startups government policies and inflow
good capital inflow startups are have been founded or co-found- of capital all have promoted
able to offer equally good pay ed by well known and successful startups. People seeking jobs are
packages for employees com- entrepreneurs. Many of these much more inclined to work for
pared to other well known entrepreneurs have been startups today without having to
companies. This means new handling successful business worry about working for a
recruits do not have to compro- operations in the past of other relatively lesser known company
mise with a pay cut and get to multinationals. Once such or brand.
grow with the company offering experienced and well known
them a dual advantage of individual chooses to go solo, -Babu S
working for a startup entity. they attract not only their
previous team members but
Chance to grow with the other likely employees all keen to
company a huge motivation: work with a proven successful
Monetary reasons apart, many team manager.

TRAVEL
HOW TO SLASH YOUR

TRAVEL EXPENSES?
BUSINESS
I
rrespective of whether you costs like hotels, food, car rentals travel. You can consider opting
have a big business, a small and taxi fares etc. All of these if for virtual meeting on multiple
one or just starting out in not regulated properly can have platforms like Skype or Google
the world of entrepreneur- a severe impact on the overall hangouts if your travel plans
ship, travel remains an finances of your business in the were limited to meetings or
essential part of every business end. interaction with one of more
plan. The reasons for travel may individuals. With Smartphone
be endless from traveling for Five gold tips to reduce your penetration helping the cause
exhibitions or conferences, to travel expenses: Here is a look planning a virtual meeting is
increase your networking circles at five simple but effective tips easier, cost effective and equally
for business expansion, finding that you as a business owner can effective as face to face meet-
sales in new regions etc. adopt to bring down your ings.
business travel costs.
With rising inflation the cost of 2: Plan your travel itinerary in
travel has also witnessed a 1: Use technology and opt for advance:Last minute fares have a
substantial increase. Every time virtual meetings:With growing big impact on your finances.
you travel you are not only technology one can bypass the Many business owners do not
paying for the air or train fare, need of a physical meeting plan their plans in advance and
but also spending on assimilated thereby eliminating the need for pay out a higher fare in the last

minute hoping to cover their cost travel plans.Combining trips can air miles and other travel cards.
if the business deal goes mean you can accomplish more Since as a business traveler you
through. The fact is that if you with your travel plans increasing will be doing a lot of travel using
are always spending a higher your chances of a successful credit cards with travel oriented
amount for your last minute business trip multifold. cash back or air miles option can
travel plans, you are overspend- offer you good return benefits
ing on travel which will be hard 4: Have a travel manager on over a period of time.
to make even if your business board: If you are too busy
offers you a good cash flow or handling the day to day opera- Travelling for business is an
profits.Instead of opting for a last tion of your business, consider essential part of every entrepre-
minute travel plan, plan your opting for a dedicated travel neur. By planning your travel
trips in advance which will get manager. Just a five or ten smartly you can save on any
you a lower fare for travel, minute browsing on your office unwanted travelling costs which
accommodation and allied costs. laptop to quickly compare fares can help you lower your costs.
or hotel charges is not likely to This way your business capital
3: Combine trips together: If get you the best deals. A travel remains free for the business and
you need to travel to one manager understands the role is not unduly spent on travel and
destination now and then plan a and works out the most cost travelling related expenses
trip again after a few days, it is a effective travel plans for you and unwontedly.
better idea to play smart and other business employees.
combine your trips. Instead of -Vaibhav
having one fixed agenda for your 5: Make use of travel centric
trip, spending an extra day and cards: Do not forget the impor-
finishing multiple tasks works out tance of having travel centric
to be cheaper than multiple cards including credit cards for

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carve a name of their own- be it funding, technology, managing, CONTRIBUTORS

Dojo Jose MAGAZINE SUBSCRIPTIONS

Aspire Media Pvt Ltd., No 9, Leonard Lane, 1st Floor

 Slow global growth  kochi  Emerging concepts in business

Why legal compliance and requirements

21 Why business processes need not be from your Smartphone

24 Just moneybag or beyond that

27 Why it is important for startups to hire for

30 Looking at data beyond tax returns

39 Aasaanjobs Making recruitment easy for

 Can P2P lending lead to

44 ToneTag Revolutionizing Payment

47 LoanAdda Offering Financial Solutions

SLOW GLOBAL GROWTH

08 \ Small Enterprise \ June 2016

10 \ Small Enterprise \ June 2016

• Easy availability of skilled and semi skilled

• Impressive industrial infrastructure: Kochi with

• Single window approval mechanism: Kochi

June 2016 \ Small Enterprise \ 11

• IT: Kochi is a pulse of the thriving IT sector in the

• Coir Industry: Kochi is a hub for the coir industry

12 \ Small Enterprise \ June 2016

• Rubber industry: Kochi is home to India’s biggest -Sandeep Kumar

June 2016 \ Small Enterprise \ 13

HOW STARTUPS AND SMES CAN SUCCEED IN TODAY’S ECOSYSTEM?

Creating a niche: This is yet Marketing and positioning: is

WHY LEGAL COMPLIANCE AND REQUIREMENTS SHOULD BE

PRIORITY FOR STARTUPS

June 2016 \ Small Enterprise \ 19

20 \ Small Enterprise \ June 2016

WHY BUSINESS PROCESSES NEED NOT BE

June 2016 \ Small Enterprise \ 21

22 \ Small Enterprise \ June 2016

June 2016 \ Small Enterprise \ 23

24 \ Small Enterprise \ June 2016

June 2016 \ Small Enterprise \ 25

26 \ Small Enterprise \ June 2016

WHY IT IS IMPORTANT FOR STARTUPS TO HIRE

June 2016 \ Small Enterprise \ 27

28 \ Small Enterprise \ June 2016

June 2016 \ Small Enterprise \ 29

LOOKING AT DATA BEYOND TAX RETURNS

Due to these limitations, lenders

This manual process makes credit

30 \ Small Enterprise \ June 2016

June 2016 \ Small Enterprise \ 31

EMERGING CONCEPTS IN BUSINESS SPACE MANAGEMENT

Ms Taranviir S Kaur, Country Head, Imperial

32 \ Small Enterprise \ June 2016

June 2016 \ Small Enterprise \ 33

34 \ Small Enterprise \ June 2016

36 \ Small Enterprise \ June 2016

June 2016 \ Small Enterprise \ 37

Saxena. “The property can be

The Marketing Strategies

38 \ Small Enterprise \ June 2016

Slow global growth kochi Emerging concepts in business

Can P2P lending lead to