The process of bid management and tenders should be a well defined one in order to be mutually beneficial to both suppliers and vendors. A highly efficient and wholly balanced bid and tender management process results in the reduction of costs and managing risks and improves the quality of the supply chain at the same time. Before venturing out into the nitty-gritty of things, it is a good...
In today’s tech world, intellectual property plays a significant role. Patents are a critical asset for a startup as we all know. This is because a startup’s intellectual assets become its main differentiator and USP, giving it a competitive advantage and ultimately driving revenue. If the startup fails to collect and preserve its intellectual property, it may collapse because...
After the launch of the Non-fungible Token (NFT) market, the world has begun to view assets differently. Several collectibles’ enthusiasts saw the potential of this technology and quickly embraced it. NFTs are digital assets, which are recorded on the blockchain. Given the buzz surrounding NFTs, many celebrities like Tony Hawk, Grimes and Amitabh Bachchan have jumped on board and minted...
From everyday products to food and medications, to patient wristbands in hospitals, barcodes have underlined their presence. Barcodes and barcode scanners have become indispensable instruments in today’s globalized economy since their introduction in supermarkets in the 1970s. Multiple industries use barcodes to streamline operations and improve data accuracy not just retail shelves and...
Every startup business needs to focus on its financial balance and make the right financial projections in order to focus on growth. It is important to know and understand clearly where the money comes from, where it goes, how well the business performs, and how it will perform in a couple of months. From an investor’s point of view, this information is vital to their making a decision of whether...
The job duties of the Chief Executive Officer or CEO differ from organization to organization depending on the company’s mission, product goals, and operational needs. The duties of a CEO also vary depending on the size of the organization, the number of employees, and other factors. When we think in terms of the job description, we need to first understand a few basics including Chief Executive...
To every startup entrepreneur, seeing their concepts or ideas morph into tangible, hot selling, money-spinning models is the stuff of dreams. The journey from a scribble or that remarkable eureka moment, to a full-blown commercial enterprise, however, is strewn with speed breakers. The biggest stumbling block perhaps is access to precious capital held by the pool of investors out there. To get...
Every startup needs to have a solid business plan in order for it to survive the initial stages and grow into a successful business. Unfortunately writing a business plan that is credible and works is not as easy as just putting pen to paper and writing out of the top of one’s head. A business plan includes numerous aspects but one of the most important segments of it is the financial plan for a...
From Airbnb to Facebook and the leading e-commerce giant Amazon, the fairytale stories of billion-dollar startups seem to be inspiring young entrepreneurs. Two variables played a significant part in each of these stories: the company’s staggering valuation and the funding they acquired to get there. When entrepreneurs think about funding, usually their first thought is what are the...
In business terminology, growth and scaling are often confused with each other. When we talk of growth vs scaling there is a distinct line that differentiates the two. Before we go any further it is imperative that we understand the difference between growth and scaling. Growth is that point in the business where it is ready for expansion and looks for added options to generate additional profit...