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Harsh

Harsh Bharwani  |62 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.
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Insurance, Stocks, MF, PF Expert - Answered on Nov 17, 2024

Asked by Anonymous - Nov 14, 2024Hindi
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Hello finance guru, I am 45 years old , with 2 kids. I live in a Tier-1 city with ~49 Crores of networth. This includes ~12 crores of investment in real estate (land and a flat at a prime location), ~34 crores in equity, ~1 Cr in Crypto and ~2 Cr in cash. I work in a pharmaceutical firm in an executive role and planning to retire in the next 1 year. My knowledge on finances is average and would like to seek your advise. I would like to generate ~2.5 lakhs per month for expenses from my savings and would like to double my networth in the next 7 years. Could you provide me help on the directions I can take to make this working?
Ans: Hello;

Deducting the real estate and crypto investments from your networth, we have 36 Cr.

You may invest 4 Cr each in 2 equity savings type mutual funds and 2 conservative hybrid debt oriented mutual funds.

If you do a 3% SWP from each of these funds you may expect a monthly payout of around 2.8 L (post-tax).

These funds generally yield 8-9% returns so they will continue to provide inflation adjusted income to you.(6% inflation rate considered)

Balance remains around 20 Cr, while 2 Cr may be retained as liquid fund for contingency requirement, the balance 18 Cr you may invest in combination of mutual funds, PMSs and AIFs.

As you enter retirement phase your focus should shift from "maximising returns" to "decent returns with moderate risk" since return of capital is more important than return on capital.

Happy Investing;
X: @mars_invest

*Investments in mutual funds are subject to market risks. Please read all scheme related documents carefully before investing.

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Milind

Milind Vadjikar  |650 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Nov 17, 2024

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Dear Sir, I am 53 yrs. I want to retire @60 with a INR 2.00 Cr Corps. Currently I have following SIP Total SIP 30000/- PM Axis Bluechip Fund - Regular Plan - Growth HDFC Mid-Cap Opportunities Fund - Growth Plan Aditya Birla Sun Life Pure Value Fund - Growth Option Aditya Birla Sun Life Equity Advantage Fund - Regular Growth Sundaram Mid Cap Fund Regular Plan - Growth Bajaj Finserv Flexi Cap Fund -Regular Plan-Growth Franklin India Focused Equity Fund - Growth Plan Franklin India Smaller Companies Fund-Growth HDFC Top 100 Fund - Growth Option HDFC Multi Cap Fund - Growth Option I have MF Investment @ 26.00 Lakh Current Value is @ 52.00 Lakh. I have Savings of Rs. 10.00 Lakh, PPF Rs. 5.00 Lakh, Share investment Current Market Value around Rs. 20.00 Lakhs. I don't have any Loan. Insurance INR 1.50 Cr. up age of 70. Per month earning around Rs. 1.25 Lakh. I have a Investment in real estate which can give my INR 40.00 Lakh at current Market Price & Gold Investment of INR 20.00 Lakh which I think sufficient for my daughter Marriage. Current Monthly Expense INR 40-50 K. I am in a new tax regime, so discontinue my ELSS saving and PPF Saving. Suggest how i can increase my Corpus for retirement.
Ans: Hello;

You may top-up your monthly sip by 10% every year for 7 years. This will grow into a sum of around 0.51 Cr.

The MF corpus and direct equity holdings worth 0.72 Cr today will grow into a corpus of 1.59 Cr after 7 years.

Therefore you may achieve your intended corpus of 1.59+ 0.51=2.1 Cr, 7 years from now. A modest return of 12% is assumed from MF and direct equity holdings.

2-3 years before 60 you should start moving your gains from equity funds to liquid or ultra short duration debt funds to protect it against market volatility.

Also good health care insurance for yourself and your spouse.

RE property you may sell at a later date to boost your retirement income.

Happy Investing;
X: @mars_invest

...Read more

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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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