Businesses that may get affected due to #COVID-19 Pandemic in India – Economical Impact of #coronavirus discussed

The world seemed invincible just a few months ago, especially India, like many countries in Asia was growing without a stop for decades. Although it seemed like the growth rate might have had a slump during the recent past, the economy was still on its way to record 5 percent growth.

With the middle class growing all over and the poverty rate seeing a decline, health indicators were uniformly increasing everywhere. The world seemed like a rosy place to be until #coronavirus (#COVID-19) hailing from Wuhan city in Hubei province, China, decided to change the trajectory of the global economy. This virus, which is capable of spreading through human droplets, has spread across 199 countries as of today affecting 1,224,938 people approximately, killing  66,502 approximately till today (April 5th, 2020).

In order to reduce the extent of calamity that might be caused because of the #coronavirus pandemic, many countries including India, have completely locked down the borders. This lockdown is not just limited to inter-country travel but also covers interstate, intercity and interarea travel as well. This directly affects many companies in the travel, food and aviation industries. All modes of transport departments (air, water and road) will be under huge fiscal pressure as they will have to forgo their revenue for the days the country is under lockdown. This not only will affect the tourism industry, on the whole, but also the service industries such as events and weddings in India which is one of the biggest in the world. The taxes and revenue that, in turn, generated from these businesses will also be massively impacted. Furthermore, when we focus on the organised and unorganized employment sectors, these industries that recruit people on a daily wage basis will be forced to announce layoffs resulting in underprivileged people losing their jobs in large numbers (Please do watch the video on how India’s coronavirus lockdown is affecting its underprivileged citizens; at the bottom of the post).

 The indirect effects of the #coronavirus on the world economy with the necessary lockdowns to curb it are innumerable. Almost all sectors will have a huge impact on their growth which will also vastly affect even an individual’s pocket. Many global economic institutes have projected that this situation will impact the global economy much worse than the banking crisis in 2008 – some have even projected that the world economy might shrink as much as 1 percent. India which was previously said to have had a growth rate of a decent 4.5 percent has been projected to grow only by 2.5 percent, which might still go down if the crisis lasts longer than expected.

The Paris-based OECD, an advisor for developed economies on economic policies quoted, “the global economy has become substantially more interconnected, and China plays a far greater role in global output, trade, tourism and commodity markets”. China which was the first to get affected by the virus is seeing huge losses in terms of growth this year already and because of the lockdowns of factories, the Asian market and the markets around the world that depends on Chinese manufacturing has seen huge losses even before the virus started spreading into their countries.

How India’s coronavirus lockdown is affecting its underprevileged citizens – Source; Guardian News

About the Author:  Varsha Kumar is the Managing Consultant at Wiz For Biz Creative and has worked with over 20+ Brands all over the world. MBA holder with 5 years of International Banking and IT Experience – worked with over 6  plus start-ups (Start-Up Accelerator, Lifestyle, Education, Audits and Compliances, Multimedia solutions and Branding agencies) as a marketing consultant and an advisor – also assisted companies in terms of Market Research and Venture Capital Raising aspects (Competitor Profiling, Pitch Deck Preparations, Presentations, Marketing Strategies and Business Plans).

Extensive understanding of marketing and brand objectives, consumer needs, and the value of effective communication – Strong communication and presentation skills with up-to-date knowledge on the current market trends

Use Wiz For Biz Creative as your starting springboard business consultants – they will only happily answer your questions and help you build your brand!

Please do visit our website https://www.wizforbizcreative.com for a glimpse of the Professional Digital Services that we offer.

Web Design & Development | Digital Marketing | Graphics & Illustration | Branding | Business Consultation – ‘We design solutions for your Business to be the best”

Essential Steps before formulating a Business Plan – Kick-start your Startup

With jobs getting scarce, economy stooping down and the entrepreneurial ecosystem developed,  there is widespread interest amongst the youngsters to start something on their own. The reality, however,  is that 8 out of 10 startups that commence, do not go too far and die within the first three to four years.

While this must be due to the fact that young entrepreneurs do not have the experience of having run a business and hence the intelligence to run a business successfully remains as a bottleneck. It is a fact that failure teaches us a lot of lessons. However, it is wise to seek advice, develop a plan and be prepared for any adverse situations.

The basis of all successful ventures is good planning and of course skilful execution. Most often a formulated and well thought out plan can save you a lot of frustration and disaster in the future.

A business plan, as all the other manuals will essentially answer the following questions:

  • What is the product or service your business is promoting?
  • What needs does it fulfil?
  • Is it unique?
  • How is it different from a competitor if one exists (The Product/Service Differentiation)?
  • Who will buy your products/service and at what price?
  • How many customers will you gather over a period of time and at what price and what volume (Customer Acquisition Cost and Strategy)?
  • What will be your strike rate?
  • How much revenue will be generated now and from when (Financial Modeling and Future Forecasting)?

In short, this is a process for forming a revenue model. As you can see this is a tall order but it is imperative that you need to work on this.

Let us start with the basic product /service and the need that the product or service satisfies:

  • It is always pertinent to look at some success stories and get inspiration (but remember for every success story there is a lot of failure stories as well).

Almost more than a decade ago, two young engineers found it difficult to get a seat in a bus going to Andhra Pradesh during festival time. They went from agency to agency and lost a lot of time!  It was frustrating as well.

Being techies they felt that if one could connect all buses going to a destination into a database which updates seat availability across various buses, this would be helpful to all concerned. The business Redbus was born. Initially, they trudged the difficult path of convincing each travel agency to get the software in their computer with a net connection, so that transactions could be updated real-time.  Each stakeholder with a vested interest in the company knew instantly about all the data such as – ‘how many seats are filled’, ‘how many vacant and in which bus’ and with online ticketing instant comfort, the business took a flight.

As the business potential was large, rapid scaling up took place. Competitors tried barging in, but since the volume was large there was room for many.

So perhaps, the first phase of the plan is to have a product or service that satisfies a widespread need (addressing a problem) at a reasonable cost – this will make the business scale up at a faster pace., as they say the task of marketing as an extension – “A business, is to uncover a need”.

Look around, get inspirations from success stories, conceive an idea, product or service and step out without a fear!

Stories from such sites as www.yourstory.com should inspire you.

Use Wiz For Biz Creative as your starting springboard business consultants – they will only happily answer your questions and help you build your brand!

Watch out for the next blog: The gestation period

About the Author:  Prof Rajan Lakshmanan, Alumnus of the prestigious Indian Institute of Management Bangalore (IIMB). A former manager at Asian Paints Ltd., General Manager, Pancharathna Industries, Advisor to Maini Group, Advisor to GMCI (The Greater Mysore Chamber of Commerce).

He has designed and conducted more than 100 training programmes and MDPs corporate. He has conducted many case analysis and has written many cases. The case ‘The Dabhol Debacle’ on ‘Enron’s Misadventure’ in Maharashtra was widely acclaimed.

The Benefits of Digital Marketing in 2019 – Top 5

Starting a business is a herculean task, you need a good concept/product that you can sell, get the investments right, break through all the red tapes, finally make your consumer base aware of your product/service and make them fall in love with it, this is where marketing comes into picture, marketing and sales have in the past been done through posters, through in-person salesmen, newspapers and television advertisement. Although some of these traditional forms of advertising are still followed and have quite an amount of impact in bringing consumers to your doorstep – a new form of more efficient and cost-effective advertising has overshadowed the old timers – of course, I am talking about the internet marketing alias digital marketing. Digital marketing is the best in 2019 and below are the few reasons why.

1) A Young and Ever-Growing Consumer Base

The internet is the place to be now, nearly everyone is hooked to a smartphone and constantly browsing, this set of audience is millennials or younger, so they are going to stay with your company for quite a long time. Also, the amount of people who are connecting to the internet is only going to expand as more and more developing countries like India are getting more connected. The amount of digital marketing companies is also increasing in number day by day, more competition is only going to reduce rates and increase efficiency.

2) Cheaper and Fairer Rates when compared to Traditional Marketing methods

Internet marketing is pretty reasonable, sometimes even free, social media advertising is charged only when someone clicks (CPC) on your advertisement, which not only makes this affordable but also fair. There are so many SEO companies that could help you with bringing in your clients – they all work for an affordable cost that any small to medium sized companies can easily afford them.

3) Targeting, Segmentation and Data collection

Television advertisement just run on your TV they can’t tell with high accuracy what sort of demography watches your advertisement, but best digital marketing agencies and social media advertising can accurately calculate you demography, and help you target your advertisement to the consumers you want your advertisement to reach to, for example, a shop in Chennai can target your advertisement in Chennai, and it can also segment your target into much smaller groups or clusters which proves to be very effective – 18-25-year-olds in Chennai, Only Women or Men – so on and so forth

4) International/Global Exposure at your fingertips

The best marketing agencies can expand your base globally if your Product or Service requires such an attention. Social media sites like Facebook and YouTube have spread globally all over and advertising with the with the right SEO tools and strategies with good SEO agencies/Digital Marketing agencies, can easily spread the word about your products within short duration much effectively E.g. From the USA to Japan – Advertised within no time.

5) Greater return on investment

ROI is the best way to measure if your marketing strategy is working, and there is no better way to get the best ROI other than internet marketing in today’s or future era.

So, the above justification makes it very clear that digital marketing is the future of marketing – reasonable yet effective and does all the wonders that are needed for the one who wants to grow his/her business to the present and future generation (within an affordable budget) which is going to be the consumer base for the coming years. Please do visit our website https://www.wizforbizcreative.com for a glimpse of our professional Digital Services.

Web Design & Development | Digital Marketing | Graphics & Illustration | Branding | Business Consultation – ‘We design solutions for your Business to be the best”

How to Create and Design a Professional Logo – The Importance of a well-designed logo

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What really triggers your memory centre when someone says, Audi? The four rings must immediately pop into your head, likewise, it’s the same for the cursored reddish/ white Coco cola logo, it’s something that is almost universally accepted as the brand’s core identity. Logo’s aren’t just fancy ways to spell the company’s name, but also a very integral part of brand building and recognition. You can pick out a Mercedes Benz or a Jaguar even when they are piled along with 100 other cars in a jiffy, that is the kind of power a well-designed logo gives to a Product or a Company. So, it is important that the logo you choose for your company clearly establishes the organisation’s soul and agenda and will remain as your company’s identity for a very long time.

Almost every person out there must have wanted to be an entrepreneur, but not everyone gets an opportunity to breathe life into their dreams, if you are one such person who has had the fortune to start your dream project, you must have definitely given considerable thought about its logo, the logo must serve as a window into your company’s star product, as well as being an artistic treat to satisfy your inner creative child. Many of the best creative branding agencies, can give you – your perfect logo, but you should clearly know what you are looking for, in order to deliver the best design without any hitches or prolonged work.

https://wizforbizcreative.com

When you approach a creative and affordable graphic design service you must make sure that the logo they design is representative of your company, the word/ words they use is an exact or at least a distant synonym of your vision, for example Cola-Cola has the name cola in it, no one is going to mistake it for an oil company, do they? Companies like Indian oil do what exactly they sound like. The fonts should also meet your expectations and style, you can’t use a modern-day abstract looking font for a finance company, it might not scream professionally. The colour combinations and the designs are vital to how your future clients will perceive your company. A classy colour combination with lots of greys would be more appropriate for serious businesses that deliver professional services like a group of hospitals, or a trading company. A logo with perky colours, which would suit a fun company like Cadbury or Nestle. The scalability of your logo is also an important factor to consider, your logo must look on a tiny coffee mug to a giant billboard.

 

There are some things that you can do before one wants their logo to be designed by the best creative branding agencies , they could try to use free software, a logo designing website or perhaps a hand sketch, to get an idea of what kind of logo they want, then they could approach these professionals to get a refined version of their amateur design. Remember at the end of the day these logos are like the face of your company, they are always going to be something that people will recognise your brand with and hence are incredibly important for the company’s progress.

Please do visit our website https://www.wizforbizcreative.com/logos.php for a glimpse of our professional Logo Design Services.

Web Design & Development | Digital Marketing | Graphics & Illustration | Branding | Business Consultation – ‘We design solutions for your Business to be the best”

One Stop for All Your Design and Business Branding Needs

Let’s agree we have always struggled on how to brand our business and get the niche audience.  We just don’t know where to begin and how. Sometimes all it takes is a little manpower and help from companies which have the expertise to guide you and take your business to the next level. As an entrepreneur and an artist, I have struggled with branding and promoting my product to my niche audience until I came across this multimedia agency Wiz For Biz Creative that helped me throughout and also gave a personal touch. I reckon, there are a lot of other artists/entrepreneurs out there struggling with the same and I hope this piece helps you. It’s one of the best website design agencies I have come across, with affordable web development services, best creative branding agency for best graphic design services.

https://www.wizforbizcreative.com/

About Wiz For Biz Creative: Who they are?

Wiz for Biz Creative is a contemporary multimedia firm that consolidates digital marketing & conventional branding that proposes creative and profoundly competent Business and Branding Solutions. They yield niche solutions to lift businesses around the globe. It has earned a title for one of the best E-commerce web development company in the current market. The firm understands that it’s not just about the quantity but also quality matters and that every brand is just as unique and important to them; The whole team puts in their heart and soul in projects curated perfectly for their clientele base.

https://www.wizforbizcreative.com/

What do they do?

They render efficient business solutions that you covet, with the aid of designers, writers, and developers. They have worked with many different industries globally and provide 100% client satisfaction. Their vast expertise also encompasses Logo design, designs for events, infographics, illustrative paintings. They also create and sell customized calendars, 2D & 3D animation prints. The company takes up only limited projects to ensure that the quality of the products and solutions matter and add a personal touch to their client’s demands.

Their expertise?

They help you render solutions for web design and development, corporate presentations, business pitch schemes. They have also designed book covers designs and album arts. They also outlined the cover page for the INTERNATIONAL FILM FESTIVAL OF INDIA for their 46th edition. The firm also works with cafes, restaurants, and corporate offices to help them with physical and business branding. They serve in USA, UAE, Kuwait, and India.

Where are they located?

The team consisting of 15 people, a 1-Year-old start-up company is registered in JP Nagar, Bangalore. Although, the design studio is situated in Carambolim, Old Goa.

Behind the scenes: The Team

The company’s Unique Selling Point is Quality over Quantity and to deliver high-grade results the company has the best of designers, writers, developers, and consultants. Their team consists of 15 extremely qualified and experienced professionals. The Advisor of the firm graduated from Indian Institute of Management Bangalore (IIMB), one of the finest institutions in India. Chief Design Consultant holds 10 years of industry experience as well. Basically, a pack of multi-skilled, dexterous minds have come collectively to constitute this beautiful organization to render with the best business and graphics solutions for anyone’s need.

https://www.wizforbizcreative.com/

https://www.wizforbizcreative.com/

Collaborations

They’ve worked with FIFA, JW Marriott,

Hallmark, Baskin Robbins, Shoppers Stop, INOX to name a few.

 

Contact Info

Phone Number: (+91) 771 8851 567

Email Address: info@wizforbizcreative.com

Website: www.wizforbizcreative.com

Hope this piece helped you gain some insights.

 

Author: Krithika

Blogger, Writer, Entrepreneur.

Design Sprints: Everything You Need to Know About

Let’s say you have an idea for a brand/product and want to publish it on the market. You need to up your game and determine whether or not to invest time in your ideas.  For such dilemmas and queries, Google Ventures proposed a platform to help start-ups to overcome business and marketing hurdles they are faced with.

Google Design Sprint
Source : Google Ventures

What Are Design Sprints?

“The sprint is a five-day process for answering critical business questions through design, prototyping and testing ideas with customers.”, as it says on the website.

Google has created this profoundly structured five-day process with activities assigned for each day to help participants/entrepreneurs come up with assertive solutions for their business ideas.

Design Sprints allow you to design, sell and govern sprints that deliver valuable and assertive acumens. It also helps you understand who are your customers and what’s mattering to them. It lets you test your web interface and products to be certain if it really works.

It’s quintessential to have a club of participants coming together from different fields resulting in a working prototype sketched for your needs.
Affordable web development services use Design Sprints as an innovation protocol.

How Design Sprints Structure their five-day process

Individuals are grouped to work and learn better. This also teaches them to be in a team and grow their leadership qualities. If there are no groups, Design Sprints cannot exist.

Each Design Sprint consists of 5 following phases:

Design Sprints Structure

Monday: The groups are assigned to specialists across the Google Ventures organization to recognize their ultimate aspirations and create a plan for the rest of the week. This is to understand your goals and space clearly.

Tuesday: The groups start to spitball ideas and creations to solve their ideas faced with business difficulties. Each individual in the group would grab a pen/pencil to sketch out their ideas and solutions which could potentially help their case.

Wednesday: The groups discuss the solutions that came across while sketching out on Tuesday; You should be able to eliminate and decide which one of them works best for your brand/product.

Thursday: The groups transmute their sketches into a realistic functioning prototype, storyboards created in the past days will easily help you make a working prototype. Your prototype should be ready for the final testing by now.

Friday: The final prototype is up for testing with real live users. This is the chance to not only validate your prototype with potential customers but also stakeholders and engineers. Test with a minimum of 5 users to get a good idea of what are your goals next

Benefits of Design Sprint

  • Sprints allow you to make decisions, come up with solutions and a working prototype in a crunched period of time. This shows how fast you can adapt and process. You are able to execute the work of several months in just 5 days, this is the fastest way to test your efficiency and work ethics.
  • Having a group of stakeholders, investors, and engineers together working with you on the same project helps you really gain an insight and it’s much easier to come up with solutions.
  • Design Sprints are an advocate for creative and innovative thinking. They allow you to manifest your thoughts into sketching your dream prototype rather than getting outright rejected by the company world. It gives you the freedom to experiment and learn.
  • You learn how teamwork is an essential part of the process and how people from across the world have something new to share.
  • Using Design Sprints, the best website design agencies have drastically improved their productivity.
  • Time constraints help boost creativity and drives you to make decisions quicker. No more procrastination and piling your work until the last moment.
  • You can reduce your risks of failure and a capital loss on creative ideas. You can scrunch months of development into 5 days with a minimal amount spent. This gives you extra time to validate your ideas and improve if there any changes to be made in case of failure.
  • Design Sprints are also very useful for affordable web design services because they do away with the expenditure needed in long-term prototyping.

Challenges of Design Prints

  • One of the main challenges of Design Prints is to gather a group of individuals that correlate to your work. Getting people to cancel any plans they have for the week is arduous and finding the right week when everyone is free is even harder.
  • Managing projects and time constraints is not an easy balance. It gets too complex and head-wrecking to execute projects under pressure. For example, affordable custom website design services might find it difficult to operate on such a short timescale.

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Reference Links:

https://www.shopify.com/partners/blog/design-sprint

https://www.coursera.org/learn/uva-darden-running-design-sprints

Picture Courtesy: Google Ventures