4:29 PM | 38.9KB/s BB all a € READING MATERIAL Overview In this video, Mr. Paritosh Sharma, Professor of Bada Business Pvt. Ltd., discusses 7 incredible startups and their business models. Mr. Paritosh Sharma explains what is so unique about these startups and what they have done that: ¢ The valuation of these startups has increased suddenly. ° These startups get so many investors and customers. e They have become a big startup from a small startup. All these learnings are very important for you. We have 3 videos in this series, i.e. “Startups USP Part-1”, “Startups USP Part-2”, and “Startups USP Part-3.” In these three videos, we have discussed total 21 startups. In the Startups USP Part-1 video, we have discussed 7 startups. In this video, we will discuss the next 7 startups, numbered from 8-14. Learnings #8 Paytm Money e Paytm Money is not the regular Paytm that we use. It is a startup. ¢ Paytm is no more a payment company; it is evolving as a financial services company. This is a unique strength that you need to understand. ¢ For the businessmen who want to enter in the a (C} <44:29 PM | 0.8KB/s BB all os < e READING MATERIAL For the businessmen who want to enter in the Fintech industry, it is a very big signal that how a company like Paytm has launched the Paytm Money. Paytm Money is an app wherein you can invest in mutual funds and soon stockbroking services will be added in it. Using this App, you can make direct payment to your mutual funds through Paytm wallet and when you want to take out money from your mutual funds, it can be directly transferred to your Paytm bank. Paytm has started as a payment company, then they bring Paytm Money, and then Paytm Bank. All these are interlinked. First, they on-board customers through Paytm, then they provided value-added services, and behind it, they form a bank. In this way, Paytm wants to open a complete financial services company. You need to understand this strategy and unique approach because today, financial services have a very big market in India that if even 20 companies like Paytm Money came in India, they will have a lot of business. So, the pie is much bigger. The more the competition, the more value will be created for the customer and the bigger the market will become. #9 MyGate MyGate is an incredible App. They have ensured with the help of technology that any guard need not to do an entry in the register. Making an entry in the register is a useless work because: a (C} <44:29 PM | 0.0KB/s B OB rll at € READING MATERIAL e The register may get damaged or spoiled by water, rains, or any fire accident. ¢ Also, you cannot check the entries again and again by flipping the pages. But, with the help of a digital medium, you can quickly check how many vehicles come inside and go outside, who enters the building and who exists out of it, etc. Especially in the lockdown, when all the societies are closed and gated, MyGate App is growing faster. The most unique feature of this app is that the complete record of entry and exit records is digitised. They are also providing value-added services to their customers. For example: ¢ If a person delivers some e-commerce product at your society's gate, then: ¢ Your guard checks the house number on the delivery packet e He opens the MyGate App and taps on your house number. ¢ You will get a notification about the delivery immediately on the MyGate App and you need to select allow or disallow on it. If you select allow, it means you have called that e-commerce delivery boy. On the other hand, if you select disallow, it means you have not ordered anything. So, the digital record of all this is kept by the MyGate App. #10 Img4:29 PM | 1.5KB/s B Bll os € READING MATERIAL #10 Img 1mg has started their business with the delivery of medicines. In the starting, they have a website that you can visit and order medicines as happens in various other websites. When 1mg started evolving and growing bigger, they entered the health nutrients space. Health nutrients mean the specific vitamins and proteins that are used by body builders, weight trainers, etc. Further 1mg grows and enters a new space, alternate medicines, which are becoming important and popular. Alternate medicine includes homeopathy and ayurvedic medicines while mainstream medicines include allopathy. So, while doing inorganic growth, 1mg acquires a startup, which deals in homeopathy. In this way, they enter homeopathy space. They have not stopped there. Now, they are saying that with the help of artificial intelligence and machine learning, they understand the customers’ health records, health patterns, and living patterns quickly and they will predict and tell the customers that what type of health benefits they require. Thus, 1mg has started as an e-commerce company and now, they are building an ecosystem around the health of the people. This is a unique factor about the company. #11 POSist The founders of POSist are Ashish Tulsian and Sakshi Tulsian. They are incredible founders in India’s SaaS space. SaaS means Software as a a (C} <44:29 PM | 0.1KB/s B Bll os € READING MATERIAL #11 POSist The founders of POSist are Ashish Tulsian and Sakshi Tulsian. They are incredible founders in India’s SaaS space. SaaS means Software as a Service, which means: e You are not taking upfront cost of software from the customers ¢ Provide software as a service to your customers * Take monthly charges from the customers POSist is a POS system that you can understand from the brand name. Like Dr. Vivek Bindra says, “Your brand name should be such that by just looking at the name, your customer understands the type of business you are doing.” POSist has made a full-fledged, automated POS system with CRM and ERP behind it. They provided all the value-added services in this big software for the restaurant and hospitality industry. Now, you can say that all the restaurants and the hospitality industry are closed due to corona. But, this is not an issue because when the restaurant and hospitality industry opens again, then POSist will have a monopoly not only in India but outside it because they have huge customer data and artificial intelligence that they can easily predict customers. For example: You are running a restaurant and have a sale of Rs. a (C} <44:29 PM | 0.0KB/s BB rll a € READING MATERIAL ror example: You are running a restaurant and have a sale of Rs. 10 lakhs on a good weekend. With the help of its software, POSist can tell you: e¢ How much sales you have done in the last 3 months? © Which product was sold more? ¢ Which waiter has served the customers most? e What should you pitch to your customers in the coming times? For example, you can train your waiters on the dish they should pitch in the next week. ¢ How much growth will you get in your topline in a weekend if you pitch a particular dish? This is the advantage of the POSist software and being a data-driven company. You also need to understand how you can become a data-driven company and create more value for your customers. #12 Meesho Meesho has disrupted the e-commerce industry. Every person cannot open an e-commerce company, build a brand like a clothing brand, food brand, etc., or have the huge financial capability and financial byte. In such a case, what should be done? Every person has some network, which may include 100, 200, or 500 friends. If you can provide samethina ta these 100 200 ar 5N0 friends and aet a (C} <44:29 PM | 0.0KB/s BB rll os € READING MATERIAL something to these 100, 200, or 500 friends and get money from them, then what will happen? Meesho has done the same thing. It made entire India a reseller. For becoming a reseller: ¢ You need to visit the Meesho website and download its app, and you can open your store in it. * You don't need to do anything, you are just a reseller. ¢ Meesho has a complete store behind whose products you can display in your own store. e When products start selling from your store, you will get margins. So, you are just doing reselling and by reselling, people have earned lakhs of rupees on it. #13 Khatabook In India, there are several Kirana stores and small stores that maintain “khata”. In such a case, if “khata” get misplaced, any page gets torn-off from it, or get damaged anyhow, this lead to huge losses. For example: e Acustomer has to pay Rs. 3000 but as the record of only Rs. 1,500 is maintained, so, only Rs. 1,500 is taken from him. This leads to aloss of Rs. 1,500. © Similarly, if a customer, as well as the shopkeeper, did not know the amount needs to be paid, then there will be no transparency. So, several problems like this are faced by shopkeepers. All these problems are solved by the a (C} <44:29 PM | 0.0KB/s BB all os < READING MATERIAL So, several problems like this are faced by shopkeepers. All these problems are solved by the Khatabook app. Khatabook has received huge funding and get fast growth. They got so much funding because: e They tell the investors that there are several Kirana stores in India and they have huge customer data. These Kirana stores have several ways to capture data. They tell the investors that they will digitise these Kirana stores free of cost by giving them a software. The Kirana stores need to fill their customers’ details in the software so that it enables them to send free SMS, WhatsApp msgs, e-mails, and give them new offers. It is easy for Big Bazaar and Amazon to bring new offers as they have power and capacity. But, how a small Kirana shopkeeper will bring new offers? A Kirana store can also bring new offers with the help of Khatabook. This is the power given to Kirana stores by Khatabook. #14 BulBul BulBul App has made a disruptive business model. It is very interactive. For example: On TV, you must have seen teleshopping advertisements which go on for several hours. In these advertisements, a person explains a a (C} <44:30 PM | 0.5KB/s BB all os € READING MATERIAL In these advertisements, a person explains a product to you and a call to action keeps on displaying on your TV screens, which are the phone numbers that they request you to dial immediately to order the product they are explaining, which is mostly on offer. ¢ You dial the number and get the product at your home at very low prices. The new version of the same thing is used by BulBul App. People show their products like clothes, jewellery, accessories, electronics, etc. live on this app. For example: If a person is selling mixer on the BulBul, then he will on the mixer and show you it's working. So, you are watching and listening to that person live. This is live feedback. In the coming time, i.e. post-corona, people will not go to markets and malls for buying products. They will do all the shopping online. You will get the online shopping experience from real people and they will talk with you live, and you can interact with them live. This will increase trust and loyalty and you will buy products on the recommendation of one person. So, these are the 7 startups that are using technology to build customer relevance and customer experience. You also have to do this. If you don't do so, then you will not be able to stand in the coming years because the upcoming time is the time of technology. a (C} <4