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How to Test Your Business Idea

 September 17, 2018       No Comments 

Passion! Conviction! Tenacity! Without these traits, few entrepreneurs could endure the challenges, the setbacks, the twists in the road that lie between their often path-breaking ideas – opportunities, as they call them – and the fulfillment of their entrepreneurial dreams.

The very best entrepreneurs, however, possess something even more valuable – a willingness to wake up every morning and ask a simple question about their nascent opportunity: ‘Why will this new business work when most will fail?’ Or, to put it more realistically, ‘What’s wrong with my idea, and how can I fix it?’

Overview: The Seven Domains, a Great Tool for Entrepreneurs

At its heart, successful entrepreneurship comprises three crucial elements: markets, industries and the one or more key people who make up the entrepreneurial team.

The seven domains model brings these elements together to offer a new and clearer way to answer the crucial question that every aspiring entrepreneur must ask themselves every single morning: ‘Why will or won’t this work?’

Markets and Industries: What’s the Difference?

Moreover, the model’s seven domains are not equally important. Nor are they additive. A simple scoring sheet won’t do. Worse still, the wrong combinations of them can kill your venture. On the other hand, sufficient strength on some factors can mitigate weaknesses on others. Good opportunities can be found in not-so-attractive markets and industries.

To understand the diagram, it’s worth starting by addressing a very common confusion. As mentioned above, markets and industries are not the same thing. But very often entrepreneurs and even investors blur the definitions. This leads to trouble.

What Do We Mean by Market?

Markets consist of buyers, not products.A market consists of a group of current and/or potential customers having the willingness and ability to buy products – goods or services – to satisfy a particular class of wants or needs. Thus, markets consist of buyers.

Example: One such market, for example, consists of businesspeople who get hungry between meals during their workday. We’ll call this the market for workplace snacks.

What Do We Mean by Industry?

An industry consists of sellers – typically organizations – that offer products or classes of products that are similar and close substitutes for one another.

Example: What industries serve the market for workplace snacks? At the producer level, there is the salty snack industry, the candy industry and the fresh produce industry, to name but three. There are also industries providing the distribution of these products to workplaces, including the supermarket industry, the restaurant industry, the coin operated vending machine industry, the coffee bar industry and so on. Clearly, these industries offer varying bundles of benefits to hungry workers. Some of these industries are more attractive than others to would-be entrants seeking to serve the workplace snack market.

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Departmental Accounting

 May 8, 2017       No Comments 

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Chart of Accounts

 May 8, 2017       No Comments 

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Balance Sheet

 May 8, 2017       No Comments 

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Audit Trail

 July 2, 2016       No Comments 

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Amortization

 July 2, 2016       No Comments 

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Accounts Receivable

 July 2, 2016       No Comments 

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Peeks into the Present and Future of SEO

 July 17, 2015       No Comments 

The dawn of computer sciences has led the internet to progress gradually. We have advanced from the humans who had little information about the tools and strategies of the Internet to tech savvy minds and souls today. We possess every intricate detail about how to reap the fruits of successes from the tools of the internet. We have indeed ‘evolved’ in the true spirit.

Possibly it would be much better if we divide the segment of life, of how the Search Engine Optimization has evolved and progressed to become the indispensable necessity of the businesses today.

History of SEO:

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SEO, without which an organization cannot run its business successfully today, has unprecedented and rapidly evolving history. The phrase ’SEO’ was initially coined in the late 90’s by Bruce Clay. This man ultimately popularized the SEO to the extent that is being employed by the businesses worldwide today.
Rightly stated as the process wherein the keywords are framed in a way to attract the attention of the users, the SEO was originally not encumbered with the analytical tools as it is today. It was a simple competition between close to perhaps a dozen of websites that competed on the basis of their keyword density, tagging their websites, etc.

It was only when the popular or what we call the forefront search engines of today’s era came into existence like the Google and the Yahoo that the database definitions began with their alteration.
When the people and the database analysts woke up to smell the coffee, they realized that sufficing the addition of only the keywords stuffed into a website would not meet their requirements of letting in the web traffic. Therefore the process of evolution started.

Evolution of SEO:

The first ever major evolution in the field was made in 2005 when the Google search engine began to personalize the search results separately, but the people opined differently, which led the search engine optimizers to launch a campaign which heavily focused on the search of all the users. This amalgamated searching technique linked the users to the most frequented website.

This became the edifice of what the people generally call the ‘Google instant’. This made the websites to be searched effectively along with semantic understanding of the various web pages. This user focused search definitely made the middle ages of the SEO a remarkable focused time for the expansion of usability.

Picture of SEO in 2015:

The Google trends and the Google analytics have made the picture of SEO so appeasing to the business organizations today. Amped up escalations of the SEO rankings along with the user friendly interfaces of the websites have strongly made SEO a notable embodiment worth usage.

The various tools which have made a website interactive with the consumers today are:
Knowledge graph from Google – This tool helps the users to get quick answers, analyzing the trend of the various questions that are frequently asked online. The result of the same can be easily viewed through the SERPs which are the Search Engine Result Pages.

Google Adwords– The adwords have subsequently helped in a two way purpose. The first of which is advertising the website and the second being of the marketing of the website being created.

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CMS– Effective content management system is the king that plays to rule the roost of the people today. Since it strongly affects the minds and visual power of the users it has increased the potential of a website.

Thus, we stand at crossroads today where on one side there is an unsurpassed development of the SEO claiming at us while on the other we have intense lacking of security and privacy. Thanks to the SEO!

Future of the SEO:

Though SEO has certainly come a long way from being a monotone platform where only the display of content was possible to now be an interactive session imbibing user. With the gradual transformation of the internet, the users expect the elevation so that they can develop a brand name eventually.
Perhaps the ‘in app content’ would be the next thing that we can expect from the developers of the search engine techniques and methodologies. Experimentation with the voice enabled searches have already begun to be loaded with their codes in the search engines, but we still have an ardent wait for a technological bent which ensures the privacy of the users as well.

Creating a dominant presence over the social and digital networks, the newer methodologies of SEO might have striking features that would certainly be out of the box.

Conclusion:

Optimization thus, forms a large proportion of earning by the major corporate enterprises. Thus, the developers and the experts in the field of SEO have been developing and introducing reforms to provide the requisite supplementary additions to the optimization techniques.