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A Great Leader At Work - Awfis

#FAQatAwfis: How to be a great leader at work?

Business How To’s, Work Life Balance, , ,

 

IMAGE SOURCE: http://goo.gl/oGuwdn, http://goo.gl/HlHXx4, http://goo.gl/cU0CsC
IMAGE SOURCE: http://goo.gl/oGuwdn, http://goo.gl/HlHXx4, http://goo.gl/cU0CsC

Take a breath, calm yourself down, and remind yourself of the leader you are and would like to become. Here are some key qualities that every good leader should possess

What communication skills must I develop?

Developing good communications skills is of utmost importance to ensure that your staff is able to comprehend your instructions and explanations with clarity. It is necessary to ensure that you are consistent in your messages and hold regular meetings with your team to update them on the progress of projects, achievements and other market related news. This makes the employees feel involved in all matters even if they may not be so physically. You must be honest, open and straightforward with them in order to earn their trust. At the same time it is also important to be a good listener and be open to new ideas and opinions.

How do I become a leader by example?

A good leader doesn’t simply do all the talking and leave the rest for his subordinates. He sets an example. If you fall apart when faced with challenges, your followers are most likely to react in the same way when they are placed in similar situations. If your team knows that you’re just as committed to achieving goals as is expected of them, you set standards, and they’ll most likely put in all the effort to help you meet those goals.

How do I motivate my employees?

To motivate your team, it is important to stay away from office politics and favoritism. Employees want to be treated fairly and to earn credit for their work based on their performance rather than their relation with their superiors. Apart from creating the rules and regulations for your staff you must also be available to provide advice, guidance and inspiration for those below you. A good leader would also know that motivation is not only driven by money. What any employee wants most is recognition. Rewarding and recognizing employees for their work from time to time is a good source of motivation. Rewards may be in the form of new interesting assignments or by delegating responsibility.

Why is it important to delegate work?

It is important to let your staff take up responsibility for their own work and find their own ways to go about things. By giving employees autonomy and the right to make some of their own work decisions you can develop a mutual feeling of trust with them. Employees who are constantly told what to do and how to do it soon reach a point of frustration and that could affect your department’s productivity. Let your employees know how much authority they would have and that they must keep you in the loop on a regular basis to see to it that they are on track to meet goals. By delegating work, you are not only proving your confidence in their abilities but also reducing a load of work from your own shoulders.

How to think strategically?

To be an effective leader, you must always be on the lookout for new opportunities for further growth in the industry. Good leaders understand and stay focused on where an organization is headed and are committed to its long-term success and the success of everyone involved. To be able to do so one must have their activities planned in a systematic manner and make strategic decisions based on clear data analysis and proven practices. It is of utmost importance to understand the culture of the organization as well as external and internal influencers. Hope we answered most of your questions and have set you off on your path to become a good leader!

If you want to become a successful leader, start your journey by hiring a shared office space South Extention, New Delhi or co-working space in Koramangala, Bengaluru and start writing your success story.

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Team ShopHop - Awfis

#inspiringstories@Awfis: Bringing the essence of India closer to you – ShopHop

Inspiring Stories, , ,

#inspiringstories@Awfis is an initiative by Awfis Editorial Team to showcase the brilliant business ideas and the journey of our startup member community.

The smell of the fresh mango chutney, the crisp green beans, those bright bell peppers, and the aroma of the organic tea are just few of the things that make your mouth water. We live in a world where organic, fresh and homegrown foods sound like a fairytale.

It is amidst this, that ShopHop brings its USP. ShopHop is a curated marketplace of the finest natural, artisanal and homegrown brands from across India. They pride themselves in sourcing the most innovative brands from homes, kitchens, farms and markets across the country and in showcasing these brands to consumers. At the heart of their mission is the desire to build a new community centered on food and wellness. They are providing budding artisans and food entrepreneurs across the country with a holistic platform to showcase their talents and products and their customers with an entirely new discovery based experience.

ShopHop was founded by a small, yet an ambitious team comprising of Anirban Poddar, Dhruv Jhaveri, Amer Ahmad and Pramod Kokare. Anirban is the Founder & brainchild behind ShopHop. Dhruv handles partnerships and business development. Amer looks after operations and business strategy while Pramod is the in-house SEO expert.

ShopHop-Team-blog-image
Team ShopHop

It was in the fall semester of 2012 when Anirban Poddar took some time off from Columbia and was taken up by how large and fragmented the unorganized retail market in India was. Anirban says, “We tried to bring 15-20 of the most popular local stores in South Mumbai online and helped them digitize their operations while opening them up to the entire Indian market through our portal. That said – this was more of a pet project that I looked at on weekends and in my spare time without the constant attention and focus that it deserved.”

When he returned in July 2015, they decided to pivot the model with hyper local, proving to be a very thin margin business with heavy dependence on logistics infrastructure. As a frequent visitor of farmer’s markets and food exhibitions, Anirban noticed a huge untapped market for food entrepreneurs. Many of these individuals and hobbyists were making incredible food items but lacked the platform and branding/business know-how to build sustainable businesses from their talents. They realized that the industry needed help, and thus they began an online community that was as immersive as the farmers’ market experiences.

Building the food entrepreneurs’ network required a lot of research and sourcing at farmers’ markets and exhibitions. They connected and built a whole network of food entrepreneurs who further helped them with vendors.  Various food entrepreneurs also contacted them and got in touch directly with Shop Hop.

ShopHop mainly looks for brands that are either natural or artisanal. All their products are organic, sustain-ably produced, or made entirely of natural ingredients with no artificial additives or preservatives often found in mass-produced brands. Their products are handpicked by ShopHop’s sourcing team and offer funky twists on traditional recipes, span across an array of ethnic foods or are made with unique (even patented!) methods of production. Not only does it have to be of top quality, but it should also have an interesting story that people can believe in.

Being an entrepreneur at 23 comes with a host of challenges that require a lot of rapid learning. That said, two of the major challenges directly associated with ShopHop have been awareness and logistics.

Anirban says, “It takes time to educate customers about unique and innovative new food brands and why they make for a greater purchase decision.  They are in some ways changing behaviors here and that takes investment and time.” He adds, “The second but greater hassle has definitely been logistics and deliveries. This is a major operational challenge across the country and after several months of attempting to fulfill this on our own we decided to outsource logistics to a third party provider. However, we continue to handle pick-ups to ensure quality control and oversight and this comes with a number of its own challenges.”

With a vision to become the go-to platform for food entrepreneurs to build sustainable growth, PAN-India brands and for customers to discover the most exciting and innovative packaged food products, Anirban believes that there is a greater design and everything happens for a reason.  The goal to reach 300 brands in Mumbai by mid-2017 and a target of 120 crore GMV by December 2017 shows that ShopHop is the one to look out for!

We think that Anirban’s entrepreneurial journey is motivational and we are proud to have such inspiring stories building in our centres!

This is an inspiration to all of us to start our dream venture by taking a single step. Take your first step by hiring a co-working office space Churchgate, Mumbai or Connaught Place, New Delhi and write your success story here.

This story is based on the interview of Mr. Anirban Poddar, Founder – Shop Hop by Awfis Editorial Team.

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Thalaiva Rajinikanth Blog - Awfis

Entrepreneurship lessons from ‘Thalaiva’ – Rajinikanth

Inspiring Stories, , , ,

The one word that comes to mind when we talk about the legendary South Indian actor Rajinikanth is – ‘invincible’. We’re not talking about those exaggerated jokes that we read and laugh at.

What many don’t know is that behind his larger-than-life persona is a simple man, much like any of us. It’s his ability to balance his fame with simplicity and humility that attracted the masses, who not only adore him but worship him as the “Thalaivaa”.

Image Courtesy: http://goo.gl/SqDTSq

His transformation in life, from a bus conductor in Bangalore to becoming the highest paid actor in Indian cinema is truly inspirational. He’s one of the very few actors who has truly humble beginnings and has managed to stay on top of the game throughout his career, reigning in the hearts of audiences across the globe.

Here are some lessons that we can all learn from Rajinikanth’s success story:

1. Struggle is a stepping stone to success:

Failure is something that we shall all face at some point in our lives. What matters is how we take up the challenge to turn ourselves around and build our future from the lessons learned from our past mistakes.

Such a turning point came in Rajinikanth’s life when he was rejected by K. Balachander the first time. Instead of losing hope and feeling dejected he focused on the advice lent to him. He went on to develop his own style and learned Tamil. The rest is history.

2. Let your work speak for you:

To come across a Rajinikanth interview is something very rare. Even though the media follows him everywhere, Rajinikanth is one of the very few actors in the film fraternity who let their work speak for itself and him, rather than bragging about it or promoting it unnecessarily. The superstar is famously reticent when it comes to speaking about himself to the press.

3. Humility and Simplicity are the keys to stardom:

When his films don’t perform well at the box office, he humbly takes the blame and tries to balance the loss. Such is his selflessness. He respects all his fans as much as they respect him. Speaking about his simplicity, off the sets he is mostly noticed in a dhoti-kurta. During the recent Chennai floods, the veteran actor cancelled his birthday celebrations and donated Rs. 10 crore towards relief.

4. Learn to laugh at yourself:

It’s not just you and I who laugh at the famous Rajinikanth jokes we receive every now and then; Rajinikanth himself finds the one-liners about him hilarious. Infact he was once quoted saying in an interview, “I laugh at their imagination. How can they imagine all this? The youngsters (who make up these jokes) are brilliant, very sharp.”

5. Punctuality is Everything:

He never makes anyone wait for him and reaches all his shoots and events before time. Even after having acquired more than his share of fame, he has no starry airs about him. He doesn’t believes in being ‘fashionably late.’

Just like Rajinikanth who takes all this in his stride, these key points will take you a long way as well. Rajinikanth’s life has been an inspiration for various young entrepreneurs. His hard work, humility, growth, attitude towards success and the most important – having faith in his abilities shows that anybody can conquer mountains.

Striving hard to be the best will first require you to hire a business centre, shared office space in Powai, Mumbai or business centre in Indiranagar, Bengaluru.

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Chomp Food - Awfis

#inspiringstories@Awfis: The quest for wholesome food germinated into a business idea – Chomp Food

Inspiring Stories, , ,

#inspiringstories@Awfis is an initiative by Awfis Editorial Team to showcase the brilliant business ideas and the journey of our startup member community.

We live in a world which is full of busy schedules, delayed meetings, tensed boardroom discussions and unending hours at work. In the midst of all this, we forget to take care of ourselves. Our body requires the right kind of food to get us going and to perform well. To break the everyday monotony of work, we need food that is wholesome yet extraordinary to satisfy our taste buds.

In the middle of a hectic day at office when Satwick Tandon and Sandeep Shetty used to take a lunch break, all they saw was the disappointment that everyone faced with their lunch options. Being avid food lovers who enjoy different cuisines, they realized that the problem of limited food options needed to be solved. Be it the cafeteria food, tiffin or restaurant take outs nothing provided the taste, variety or wholesomeness that they were looking for. The foodie within them realized that the one thing that gave everyone joy – ‘Food’, is the thing that was also making their dining experience disappointing. It was this moment that motivated them to start ‘Chomp Food’.

chomp-food_blog
Team Chomp Food

“Our understanding of consumer behavior, food and process industries, marketing and general operating experience and not to forget our love for food assured us that we had the right skill sets and passion to solve this complex problem,” says Satwick Tandon, co-founder – Chomp Food.

Chomp works closely with the best food joints to bring you hand-picked wholesome meals-for-one options that you will enjoy while struggling at work. You can choose from their daily-changing menu and have it delivered straight to your doorstep. You can even pre-order for delivery in a time slot that works for you.

The team at Chomp does a lot of primary research and applies proprietary analytical models, to select partners as well as to curate the menu that appeals to the ever changing tastes of the customers.

Being a customer centric brand, Chomp engages with customers regularly. “We request customers to give us feedback each time they experience Chomp.” Satwick adds. They believe that having personal conversations with customers is vital to understanding their needs and evolving tastes. Chomp has been built with customer preferences being the foundation and every aspect of the business is managed with this mindset.

What keeps Team Chomp going is the excitement of solving a big and complex problem, the creativity & innovation required to excel, the constant growth that they see every single day and the love for food that drives them to strive harder. It is the reaffirmation of the faith that customers put in Chomp that pushes them to go that extra mile.

Beginning with the aim of bringing joy to customers through great food, be it at work or at home, Chomp aims to be the food provider of choice to its customers across major cities globally over the next 5 years.  Their go-getter attitude to excel and the perseverance to convert their love for food into something big is what inspires us at Awfis. We are proud to have such inspiring stories building in our centres!

This story is based on the interview of Mr. Satwick Tandon, Co-Founder – Chomp Food by Awfis Editorial Team.

The solution is right here! Hire a shared office space in Andheri East, Mumbai or co-working space in South Extention, New Delhi, the commercial hub of Mumbai and target your audiences, which are within the proximity.

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Career Ladder Move Up - Awfis

#FAQatAwfis: How to move up the career ladder?

Business How To’s, , ,

How-to-move-up-the-career-ladder

 

If you’ve just got a promotion, congratulations! If not, there’s something in store for you. And we don’t mean to simply encourage you by saying – keep your chin up, have a positive attitude and everything will be fine. We have gone the extra mile to get some interesting FAQs answered for you.

1. Do I befriend my boss?

This is the one question every employee battles in their mind. Is it best to be professional and keep the distance or should you play a little friendly once in a while. But, it is very vital to remember that your boss can be raising the gate and waving you forward and upward to your next position. Use your office setting to seek his counsel and always show your enthusiasm in staying with the company. Talk to your boss not only regarding your performance but also the roadblocks that are potentially stopping you from your promotion. Try to build a rapport with your boss by learning more about his interests and hobbies.

2. Do I ask for more responsibilities?

It is always good to be known as the guy who helps everybody out. Volunteering to help other departments or teams always increases your value within the organization. It shows your interest and desire to help the company grow and puts you in a spotlight. But, remember, it will only backfire if you take up responsibilities but don’t do your work properly. Finish your own work and responsibilities first and then help others.

3. Do I be a team player or work individually?

Today, majority of the work is accomplished through teams and it is extremely vital to share the success with your teammates. Be the captain of the ship and ensure that you swim and sink together with your team. Avoid pointing fingers at others when there are failures. As a team player, you will only build your reputation and watch your ship sail in the strongest stride.

4. How important is it to get the right boss?

“Don’t pick a job. Pick a boss. Your boss is the biggest factor in your career success. A boss who doesn’t trust you won’t give you opportunities to grow.” Said William Raduchel, and we couldn’t agree more. He/she is going to have a huge impact on how much you get paid, how well you enjoy your work, how fast will you move up the promotional ladder and every other aspect in your formal work setting. A boss should be someone you look up to, respect, enjoy working with and who supports you in difficult situations. Let us also acknowledge that more often than not choosing your boss is a privilege that not many employees get.

5. Should I try too hard?

If you’re the office ‘brown noser’, whose sole purpose is to suck up to the boss, this is going to have a negative effect on your upward mobility. If you focus on doing your job well and adjust well within the office culture, this would go much further than simply catering to every whim of your boss. Occasional compliments are well-adjusted, but doing it all the time, will just be counted as flattery. And flattery doesn’t run long in your promotional mobility.

6. Do I ask for help?

It is always advisable to admit your mistakes and ask for help when you feel lost. It shows a lot about your personality and character and adds value to your professional self. Asking for help doesn’t make you any less than the best, it shows you know your strengths and weaknesses. This also shows that you do a high degree of introspection which is always appreciated.

Hope we answered most of your questions and have set you off on your way up the ladder!

Or instead become your own boss. Sounds motivational? Here’s what you need first – a office space, co-working space in Qutab, New Delhi or business centre in Koramangala, Bengaluru , where you will start working for yourself as your own boss.

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Pokemon Go Mastermind - Awfis

The Mastermind Behind Pokémon Go

Business Innovations, , ,
pokemon-go-1200X630 (1)
Image Source: http://bit.ly/2aA5iNu

 

Eddie Cantor rightly said, “It takes twenty years to make an overnight success.” And nobody except John Hanke would understand that better. John Hanke is the mastermind behind the biggest sensation that has taken the world by a sweep or rather, should I say lured everybody in, Pokémon Go.

Pokémon Go is everywhere. In less than a week’s time, it has become a worldwide trend. This week Pokémon Go broke all records with ten million plus downloads, higher than average user time than Facebook, Instagram, Snapchat and WhatsApp.

After creating the world’s first MMO (massively multiplayer online game) called Meridian 59 in 1996, Hanke decided to move on to his bigger dream which encompassed mapping the world.  Later in 2000, John launched ‘Keyhole’ to come up with ways to link maps with aerial photography, and thus that pushed him to create the first online, GPS linked 3D aerial map of the world.  It wasn’t up till 2004 that Google bought Keyhole, and called it Google Earth, what is known more popularly. It was between 2004-2010 that John ran the Google Geo team and created Google Maps and Google Street view.

In 2010, Hanke launched Niantic Labs as a start-up funded by Google to create a game layer on maps. John, later in 2012, created the first geo-based MMO, known as “Ingress”.

He derived inspiration from his daily commute, to and fro from home to Google.

As an April Fools’ Day Joke, Google and Pokémon Company teamed up in 2014, which allowed users to find Pokémon on Google maps.  But seeing the interaction the joke gained, John decided to build Pokémon Go on the user-generated meeting points based on the players of Ingress. This gave birth to the popular Pokestops and gyms in Pokémon Go.

It was in December 2015 that John raised $25 million from Google, Pokémon Company, Nintendo and other investors to grow his team of 40+ to launch the final game.  Since its launch in USA, Australia and New Zealand, the app has generated over $2 million daily in in-app purchases making it an overnight phenomenon.

It was his hard work and determination that pushed him right till the end. John Hanke had only one vision throughout these 20 years; he wanted to create a game layer over the world. But he didn’t let that vision blind him, at every step of success, he didn’t lose his focus, his eyes were still on the price, he just focused at his next level up. It is very rightly said, “the secret of success is never to give up.” John Hanke started with such a simple goal, which escalated into one of the most revolutionizing ideas in history. He was motivated to get people outside the house and focus on their fitness, making them interact with fellow Pokémon hunters and also recreate a new love for their surroundings and heritage places. He believed that humans weren’t built to sit in a dark room with gear on their head and stick to computer screens.

If you want to be the next John Hanke, make sure you focus on the next step always without losing sight of the main goal.

Start by hiring a co-working space in Indiranagar, Bengaluru or shared office space in Powai, Mumbai, and build a strategy, plan your business and work towards your goal tirelessly.

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#FAQatAwfis: How To Be A Good Speaker

Business How To’s, , , ,
how to be a good speaker
Image Courtesy: http://bit.ly/29O1jeC

Standing up and giving a speech to a room full of people is a terrifying thought for many, even if it is in front of our colleagues. But public speaking is another ballgame altogether. Entrepreneurs constantly need to engage in workshops, presentations and pitches as a way to network and propagate their ideas.  Fortunately, there are a few things that we can do to not only overcome that fear, but also to become a respected public speaker.

1. How do I begin my speech?

Unless you are a famous stand-up comedian, a roast master, or well-versed with both humour and your audience, don’t even think about starting with a joke. Pulling off a single joke is a lot harder than it looks. Poking fun at yourself once in a while is fine, but don’t let others walk all over you. Start with a bang, like an interesting story that will help build a rapport with your audience.

2. Should I learn my speech by heart?

You may think that the best way to give a flawless speech is to memorize the content word-for-word.  But trying that can create a lot of problems for speakers. Memorization not only lends itself to sounding over-rehearsed (aka not natural), but also, if your mind goes blank at any point during the presentation, you will lose your place and potentially create an awkward silence. Or worse, start to panic. So, learn to memorize concepts than the content itself.

3. Should I watch others giving speeches?

No matter how intimidating it sounds, it’s good to listen to other speakers, even when you are nervous. You can watch the videos of renowned public speakers and get your learnings from them. You’ll get great ideas for your own presentations. When you attend workshops and conferences, make sure you listen to other speakers and the techniques they use.

4. How long should I talk for?

It all depends on your content. You don’t need to give all of your speech at once. Think of how you converse at a party, there is a natural give and take, pauses in thoughts. The same applies when you’re giving a speech. Have moments of quiet where you step back and let your audience contemplate and soak in what you just said and let them interact with you.

5. I’m nervous and scared even after all the preparation, what do I do?

Remember that the audience is actually rooting for you to succeed. People who fear public speaking when faced with a microphone and a crowd, usually wish they didn’t have to do it in the first place and would rather be dead. However, once you get the knack of it, it will be like a piece of cake for you. Remember to breathe and not push yourself, take your time, organize your thoughts and keep practicing.

Just breathe and enjoy your speech. At the end of your speech, be sure to thank the audience, the host and the company for listening to you. For more queries, comment below, we are happy to listen to you.

A good entrepreneur will always want to be prepared before he takes the podium. Hire a co-working space in Lower Parel, Mumbai or business centre in Connaught Place, New Delhi provide by Awfis.

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Perfect Pitch - Awfis

#FAQatAwfis: The Perfect Pitch

Inspiring Stories, , ,
The Perfect Pitch
Image Courtesy: Shark Tank

Q1. Do I use a backstory/history of my product in the beginning?

Every person today will agree that their attention spans are way shorter than what it used to be. Be it books, blogs or history. Nobody wants to waste time explaining the history of the birth of the product. When making a pitch, always keep it short. Give them an overview of your proposition, and learn to hold your listener’s attention right from the beginning. Remember, short is sweet.

Q2. Should I use many images and slides in my presentation during the pitch?

It’s not only your boss but every venture capitalist in the world as well will tell you to minimize the number of slides you use. Learn to keep it minimalistic and crisp. Use images that are of high quality and that connect well to your ideas. Ambiguous images will just make your listener confused and eventually lose attention.  Recently, Leonhard Widrich and Joel Gascoigne, founders of Buffer, used 13 slides to land $500,000 in three months. Less is more!

Q3. Do I create suspense and mystery in the beginning?

The entrepreneurs already know what your product is and thus, have given you an opportunity to make a pitch. Cut the mystery and suspense, but instead create the need for your product. The main thing running through your listener’s mind when listening to you is, “what problem are you trying to solve?” Give them a definite, concrete statement of the problem and establish the need for your product. Show them how it will affect the people and in turn solve the problem.

Q4. How long should my pitch be?

There are pitches that have not taken longer than 15 minutes, seven minutes, five minutes and even two minutes.  The main point is to deliver your product with all its attributes and how important is it in the industry today. And to do so, in the shortest given time, will not only make your listener happy but will also fetch your extra brownie points. Practice your pitch in front of a mirror or your friends to give it that finesse your listeners are looking out for.

Q5. Do I reveal the other competitors who are doing the same in the industry?

This is an extremely important step. Who is your competitor? What are they doing? Show your listeners what you are offering and more importantly, how is it different from your competitors? And if possible, prepare strategies against the current trends of your competitors. Always good to have an upper hand, right? Shows how well-read you are, as well!

Q6. What’s the next step after the pitch?

Practice your follow-up steps as well as your pitch. People usually get so caught up in the pitch that they forget to take into account what’s coming next? Make a list of all the possible questions the listeners can ask you. Make it clear what you expect from your audience and where you see your product in the future. A perfect pitch without a perfect follow-up is like a hike that is lesser than your current salary.

You can hire a business centre in MG Road, Bengaluru or shared office space in Churchgate, Mumbai, offering all the amenities your require to make your perfect plan that you will pitch in front of your potential investors.

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Brand Names Become Generic - Awfis

5 Brand names that are so commonly used that its household!

Inspiring Stories

In a world of mass consumerism and competition ­– where supermarkets are flooded with thousands of brands – there are a few names that have managed to make their mark on us.

Here’s a look at the brands that have become daily jargon without us even realising it.

1. Xerox

The act of photocopying has been referred to as Xerox for years, which is actually the name of a company that provides business solutions and printing services.

2. Aspirin

Now, it’s the standard word for medication used to cure all kinds of headaches. In reality, it is a drug known as Acetylsalicyclic acid (ASA) often used to cure pain, fever and inflammation.

3. Ping-Pong

The recreational sport is actually a brand of table tennis products launched in 1901 that was named for the sound the ball makes when it’s hit back and forth.

4. Photoshop

The photo editing software by Adobe systems is now popularly used as a term to describe anything that is unreal, fictional, modified or altered.

5. Jacuzzi

This generic name for jet massaging hot tubs, is actually an American multinational corporation that makes mattresses and toilets.

 6. Band-Aid

The most commonly used name to heal minor cuts is actually a line of adhesive bandages manufactured by pharmaceutical giant, Johnson & Johnson.

7. Powerpoint

The presentation and graphic program, part of the many services offered by Microsoft, has become a popular word for presenting information in a visual format.

Know of any more? Share your suggestions on our Facebook, Twitter, Instagram and LinkedIn pages.

Target Audience - Awfis

#FAQatAwfis: Who Is My Ideal Target Audience?

Inspiring Stories,

Q1. What is my first step at targeting audiences?

It’s important to create a “why us” value proposition for your product. Be ready to stay in test and refine mode, as you move forward. Many startups and entrepreneurs get so caught up in their business plan and trying to execute it, they forget the most important aspect, which is the market. It is important to move out of your cubicle and office space and go out and discover more.

Q2. Do I start small or look at the bigger market?

You definitely need to start with the smallest group possible. It may seem contradictory to many who are starting a business, but it’s vital to find a group who think what you offer is special. Finding a narrow group with extremely specific demographics or a specifically targeted problem is the key. It’s easy to expand your reach after you gain traction, but it’s always the best to be a big player in the smaller markets.

Q3. Is it vital to keep resources aside for my research or can I just analyze?

The customers who currently buy your product are your audience and it is extremely important to understand who they are, their characteristics and their buying patterns. Analyze the elements that worked with your marketing strategy that connected with your audience. It is obviously important to invest in customer relationship management software for small businesses. Use tools and software to see your customers’ geographic distribution, age range, habits and other valuable insights.

Q4. How important is it to study the role of my competitors in the industry?

If you’re lucky and blessed, you’ve invented a product that the world has never seen. However, it isn’t so easy always. It’s extremely important to check out the competition that sells similar products to yours. Look not only at the big players, but even the upcoming startups. Start thinking of ways that would persuade your customers to switch to your product. Make your product more desirable. Study your competitors and their success and how they connected to their audiences. Along with success, study their failures as well so you can avoid them.

Q5. How to create an audience profile?

The ideal customer profile contains not only demographic but also psychographic information. Demographics describe aspects like gender, age, income, marital status, job status, education levels, etc. Psychographics identify hobbies, behaviors, habits, lifestyle choices, values, and interests. It is also important to give equal weightage to both these factors as they go hand in hand.

Q6. What is my next step?

After you have figured your audience, it is important to envision your product and your company five years into the future. Both your business and your customers need to move forward in the same direction. Be aware of all the technology changes related to your product. And remember, as your business evolves, your customer base will also shift. But once you’ve found your target audience, the transition won’t be too difficult.

Hope this would guide you into finding the ideal audience, for more queries comment below!

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