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Harsh

Harsh Bharwani  |56 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, 2023Hindi
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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.
Career

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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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Anu Krishna  |839 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on May 03, 2024

Asked by Anonymous - Apr 27, 2024Hindi
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Relationship
Hi ma’am My family is not accepting my boyfriend as he is not well settled and doesn’t have any savings. His parent are also divorced and father has a second marriage. The first children custody is still with parents however my boyfriend and his brother live with his mother. He is 5 year younger than me. My family is not accepting my relationship and showing me new proposals every day. To borrow some time i am just refusing the proposal my giving some excuses but now they know that i am still not out from him and waiting for him to get settled. Kindly let me know how can i convince my family to accept my relationship. My boyfriend is working day and night to get settled and have a good account balance. Please advise.
Ans: Dear Anonymous,
If your daughter came to you with the same situation, how would you advise her?
Would you not tell her your concern that she is actually choosing someone who may not be able to support her when she goes on maternity leave? Would you not tell her that coming from a broken family, she may have to take care of her boyfriend and possibly parent him on different occasions? Your parents are only concerned for you and are unable to tell you what they are worried about. Put yourself in their situation and tell me that you will not be worried.

At the same time, I do get your frustration. What you can do is to work on your parents' concerns and buy time till your boyfriend manages to settle down. And it seems like he is doing all that he can to be in their good books. And that's the only way you can get them to accept him. Wait patiently and don't put him under pressure. Instead be supportive and at the same time, you continue to work and be independent as well.

Never try to convince someone who does not want to be convinced but instead work on how they can accept him by addressing their concerns.

All the best!

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Ramalingam

Ramalingam Kalirajan  |1319 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 03, 2024

Asked by Anonymous - Jan 29, 2024Hindi
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Money
Hi Sir. I am 29 years old and have a saving of 5lac now so I want to invest it in lumpsum SIP for 10 years. Could you please suggest me which fund would be better including small, mid and large where I can get over 25 returns
Ans: Investing a lump sum in SIPs for 10 years is a wise move towards building wealth. Considering your age and investment horizon, here's a diversified portfolio suggestion that includes exposure to small, mid, and large-cap stocks:

Large-Cap Fund: Invest a portion of your funds in a reputable large-cap fund known for its consistent performance and stability. Large-cap funds invest in well-established companies with a track record of strong earnings and market leadership.
Mid-Cap Fund: Allocate another portion to a mid-cap fund, which focuses on companies with medium market capitalization. Mid-cap stocks have the potential for higher growth than large-cap stocks but come with higher volatility.
Small-Cap Fund: Lastly, invest in a small-cap fund to capture the growth potential of smaller companies. Small-cap stocks can be more volatile but offer the possibility of significant returns over the long term.
Ensure to select funds with a proven track record, experienced fund managers, and low expense ratios. While aiming for over 25% returns is ambitious, it's crucial to remain realistic and consider the associated risks. Diversification across different market segments can help mitigate risks and enhance potential returns.

Consulting with a Certified Financial Planner can provide personalized advice tailored to your financial goals and risk tolerance. They can help you select suitable funds and construct a well-balanced portfolio aligned with your investment objectives.

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Ramalingam

Ramalingam Kalirajan  |1319 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 03, 2024

Asked by Anonymous - Jan 28, 2024Hindi
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Money
Hi I'm investing 1500 in nifty mid cap 150 index, 1000 in nifty next 50 index and 500 in nifty 50 index. 100 percent passive investment fpr long term. Any suggestions with allocation or diversification?
Ans: Here's a breakdown of your current portfolio and some thoughts on active vs. passive investing:
Current Portfolio:

Nifty Midcap 150 Index (1500): This is a good way to gain exposure to mid-sized companies in India.
Nifty Next 50 Index (1000): This provides exposure to companies on the cusp of joining the Nifty 50, potentially offering higher growth.
Nifty 50 Index (500): This offers diversification with large, established companies.
Overall, your portfolio is leaning towards a growth strategy with a good focus on mid-cap and small-cap companies. This has the potential for higher returns but also comes with higher risk.

Active vs. Passive Investing:

Active Funds: These are managed by professionals who try to outperform the market by picking winning stocks. While active management can be successful, studies show that over the long term, a large percentage of actively managed funds underperform their benchmark index. The fees associated with active management also eat into returns.

Passive Funds (Index Funds): These track a market index, like the Nifty 50. They offer lower fees and historically, tend to match or outperform a significant portion of actively managed funds. This makes them a good option for long-term investors who don't want to spend a lot of time managing their portfolio.

Here's why your current approach with index funds is a good strategy for long-term investing:

Low Cost: Index funds have minimal fees, allowing you to keep more of your returns.
Diversification: You're already diversified across different market segments, reducing risk.
Long-Term Focus: With a long-term outlook, riding out market fluctuations is easier, and index funds tend to perform well over time.
Here are some additional thoughts:

Asset Allocation: Consider your risk tolerance and investment goals. You could adjust your weightings between the Nifty 50, Next 50, and Midcap 150 to achieve your desired risk profile.
Rebalancing: Periodically rebalance your portfolio to maintain your target asset allocation.
Ultimately, the decision of active vs. passive is yours. However, for a long-term investor with a focus on low costs and diversification, a passive approach with index funds is a well-supported strategy.
Lastly, if you're open to exploring active funds, consider consulting with a professional Mutual Fund Distributor (MFD) with Certified Financial Planner (CFP) credentials. They can provide personalized advice and recommend active funds that have the potential to outperform their respective indices over time.

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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