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Harsh

Harsh Bharwani  |55 Answers  |Ask -

Entrepreneurship Expert - Answered on Oct 19, 2023

Harsh Bharwani is a fourth generation entrepreneur.
As CEO and managing director, he leads the international business and employability initiatives at the computer networking institute, Jetking Infotrain Limited.
After graduating from Delhi University, Bharwani joined the family business in 2010 and set up operations in the US and Vietnam.
He has trained over three lakh students in employability, confidence and key life skills.... more
mukesh Question by mukesh on Jun 30, 2023Translate
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Career

i wish to start olx or quikr type business on androide app please guide me how tomdo so.

Ans: Starting a classifieds or marketplace business like OLX or Quikr can be a rewarding venture, but it's a complex undertaking. Here are the essential steps to guide you through the process of creating an Android app for your classifieds business:

1. Market Research:

Research your target market to understand user needs, preferences, and pain points.
Study your competitors and identify gaps or opportunities.
2. Business Plan:

Develop a comprehensive business plan that outlines your app's concept, monetization strategy, and growth plan.
3. Legal Considerations:

Register your business and obtain any necessary licenses and permits.
Ensure your app complies with data protection and privacy regulations.
4. Monetization Strategy:

Determine how you'll make money from your app. Common strategies include:
Advertisements
Subscription models
Featured listings
Transaction fees
5. Platform Selection:

Decide if you want to launch exclusively on Android or on multiple platforms (iOS, web, etc.).
6. App Development:

Hire a mobile app development team or use a DIY app builder.
Develop the app's features, including user registration, listing creation, search, messaging, and payment processing.
7. User Experience (UX) and User Interface (UI) Design:

Create an intuitive and attractive interface.
Focus on making the user experience smooth and user-friendly.
8. Testing:

Thoroughly test your app for functionality, performance, and security.
Gather feedback from beta users.
9. Deployment:

Publish your Android app on the Google Play Store.
Optimize your app's listing with a compelling title, description, screenshots, and keywords.
10. Marketing and Promotion:

Create a marketing strategy to attract users.
Utilize digital marketing, social media, and SEO to drive traffic.
Consider partnership opportunities with local businesses.
11. User Safety and Trust:

Implement safety measures to ensure trust among users. Verify users and provide secure payment options.
12. Feedback and Improvements:

Continuously gather feedback from users and make improvements to your app.
Stay updated with the latest trends and technology in the classifieds market.
13. Customer Support:

Offer responsive customer support to address user inquiries and concerns.
14. Scalability:

Plan for scalability as your user base grows. Ensure your infrastructure can handle increasing traffic.
15. Maintenance:

Regularly update and maintain your app to fix bugs and add new features.
16. Adaptation:

Be prepared to adapt your app based on changing market dynamics and user feedback.
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Chandu

Chandu Nair  |55 Answers  |Ask -

VC, Angel Investing, Entrepreneurship Expert - Answered on Nov 02, 2023

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I am 48 y old I lost my job last 6 month ,I have 18yr experience in korean mnc company in purchase department,now I want to start our bussiness ,pls let me know how to I start bussiness
Ans: First, assess your current situation overall - personal and professional and be sure that own business is the most viable/ sensible option.
Then, make a list of ideas that resonate strongly with you, refine it, do some initial validation and shortlist on the final 1/2 that are most appealing.
Figure out the finances required, personal (for the family) and for the business. Ensure that it will not create issues that can derail you.
Time now for more on the ground market research including prospective users/buyers, assessing competition/ alternatives, checking with suppliers, regulatory environment etc.
Make an initial business plan with key assumptions clearly spelt out and validated as much as possible. Also see if you want to have partners/ co-founders who share this vision and have complementary skills/ experience.
See if you can make an initial prototype of your offering (MVP minimum viable product) and again test it with your potential customers; iterate to see what changes are required including revenue models, go to market approaches etc.
Now is the time to formally register your business - single person company, LLP etc. Get professional expertise as required.
Revisit your Business plan and change as required.
Formally launch, test market, make changes and then go full steam ahead

All the best.
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Moneywize

Moneywize   |66 Answers  |Ask -

Financial Planner - Answered on Mar 03, 2024

Asked by Anonymous - Mar 03, 2024Translate
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I'm contemplating a career change in my late 30s, earning Rs 14 lakhs annually. How can I navigate this transition while ensuring financial stability and working towards long-term goals such as retirement?
Ans: Transitioning to a new career in your late 30s while maintaining financial stability and planning for long-term goals like retirement requires careful consideration and planning. Here are some steps you can take to navigate this transition effectively:

1. Assess Your Skills and Interests: Reflect on your skills, interests, and values to identify potential new career paths that align with your strengths and passions. Consider seeking career counseling or taking career assessment tests to explore different options.

2. Research Potential Careers: Conduct thorough research on the industries and roles you're interested in pursuing. Look into job market demand, salary potential, and growth opportunities to ensure your chosen career path is financially viable.

3. Skill Development and Education: Determine if you need to acquire new skills or education to transition into your desired field. This could involve enrolling in courses, obtaining certifications, or pursuing higher education such as a degree or specialised training programme.

4. Financial Planning: Evaluate your current financial situation and create a budget to understand your income, expenses, and savings. Factor in any potential changes in income or expenses associated with your career transition. Consider setting aside an emergency fund to cover unexpected expenses.

5. Debt Management: If you have any outstanding debts, develop a plan to manage and pay them off efficiently. Prioritise high-interest debts like credit card debt while maintaining minimum payments on other loans.

6. Retirement Planning: Review your retirement savings accounts like the EPF, and assess whether you're on track to meet your long-term retirement goals. Consider consulting a financial advisor to develop a personalised retirement plan based on your age, income, risk tolerance, and retirement objectives.

7. Health Insurance and Benefits: Evaluate the health insurance and other benefits offered by your new employer, if applicable. Ensure you understand the coverage provided and any associated costs. If transitioning to self-employment or freelancing, research options for obtaining health insurance coverage independently.

8. Networking and Building Connections: Network with professionals in your desired industry to gain insights, advice, and potential job opportunities. Attend industry events, join professional associations, and leverage online networking platforms like LinkedIn to expand your network.

9. Side Hustle or Freelancing: Consider starting a side hustle or freelancing in your desired field while maintaining your current job. This can provide additional income, valuable experience, and a smoother transition into your new career.

10. Evaluate Risks and Rewards: Assess the risks and rewards associated with your career change, including potential income fluctuations, job stability, and work-life balance. Be prepared to adapt and make adjustments as needed throughout the transition process.

By following these steps and carefully planning your career transition, you can navigate the change while maintaining financial stability and working towards your long-term goals, including retirement.
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Dr Karthiyayini

Dr Karthiyayini Mahadevan  |599 Answers  |Ask -

General Physician - Answered on Mar 03, 2024

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