5 Legal Prerequisites Before Establishing a Company

Whenever an entrepreneur implements an idea in the form of a tangible business, legal prerequisites need to be taken into serious consideration in order to avoid trouble. Not considering legal fundamentals can prove to be costly and can hurt any business in the long run. Research is therefore imperative in order to fully comprehend what the government requires entrepreneurs to obtain before they invest their energy, time and money into establishing a business.

The paralegal team at NIC Lahore has made it fairly simple for all our incubated start-ups with the following listicle. If you’re an entrepreneur struggling to prioritize your pressing legal tasks, here are five things that need to be addressed immediately:

  1. Develop Your Co-Founder Agreement

A co-founder agreement is not necessarily a legally binding contract. However, it is an agreement between founders about key issues. This entails the co-founder relationships, their responsibilities to towards the company, structure of the company including, vesting schedules, exit strategies, ownership of intellectual property and such other matters integral to the running of the Company.

  1. Define your Company’s Legal Structure

The company’s structure defines how it is defined legally. Primarily, there are three main business types. These include a sole proprietorship, a partnership and corporation. In most parts of the world the core impressions and functions remain the same. In a sole proprietorship all consequences fall squarely on the founder making them personally liable for possible debts et cetera. A partnership entails a legal relationship and are formed through an agreement between individuals to run a business as co-owned. Lastly, a corporation is a separate entity from the promoters and shareholders of the Company therefore liabilities of the Company are the responsibility of the Company and has no bearing on the promoters or shareholders of the Company.

  1. Get your Permits and Licenses in Order

If your business requires a license, then delaying the task may be a bad idea. Required licenses based on the business are usually specified by the state based on what the business entails to begin with. Where some may require special licensing, others may only require an operating license; identifying the need should be one of the first steps. Additionally, permits allow the government to regulate businesses that may be in direct correlation to the public.

  1. Register Your Business

If you intend to convert your startup into a company recognized under law, then you must not delay registering your business. Registering your business can save a lot of trouble for everyone involved in a platitude of ways. Registering your business enables you to ensure no one else uses the business name and it becomes a separate legal entity thereby limiting the founder’s liability.  Add that they become more inevitable, enhances brand image etc.

  1. Be wary of Business Laws and Regulations

There are three main regulatory branches a business falls in; these are organizational, employment and taxation. Founders are required to immediately identify and define their structure. This means claiming whether their start-up runs on sole proprietorship or not. Additionally, the type of business one intends to run further defines tax laws for them and streamlines employer regulations and perquisites as well.

Therefore, starting a business and executing an idea is always exciting; but without the legal matters in place, the entire situation can go South as soon as it begins. Make sure the above 5 points are in place for your business and avoid possible damage at the hands of legal ignorance.

Dr. Sarah Qureshi On the Brink of An Aerospace Marvel

Dr. Sarah Qureshi is a force to be reckoned with as she sets out with a team to introduce a sophisticated new feature into the aerospace universe. Born and raised in Islamabad, Qureshi recalls having been raised by a family that valued and encouraged education. She grew up inspired by a mother who possessed a PhD in Quantum Chemistry and a father who tirelessly made a name for himself as a prominent Physicist and Scientist.

She completed her bachelor’s in Mechanical engineering from National University of Sciences and Technology and pursued a Master’s in Aerospace Dynamics and a PhD in Aerospace Propulsion, both, from Cranfield University, UK. In conversation with NIC, Qureshi recalls:

SQ: I was very focused and clear about my ambitions from a very young age. After graduating as an engineer and while working in the automotive industry in Pakistan I started to learn flying. I obtained my Private pilot license in Pakistan. During my time at Cranfield University which had its own airport, being the hub of aerospace in Europe I learnt acrobatic flying (loop, spin, hammerhead, barrel roll etc.) of which the most exciting and challenging maneuvers was spinning the aircraft and then recovering it from the spin.

RK: What continued to inspire or motivate you to actively pursue and then retain interest in this field?

SQ: Aviation is a passion; you either have it or you don’t. It is not something you do to make a profession. It has to be pursued deliberately and fervently.

RK: As a woman, it is unheard of for someone to go into aviation. Could you describe people’s response?

SQ: I realized that a lot is happening to support women. There are ample women willing to put in the effort; it is the society’s attitude that needs to be amended. Secondly, if we want women to be more involved and contributive, we need to accept children as part of the package. The arrangement cannot be exclusive. Women have a greater risk appetite and can therefore undertake cutting edge endeavors.

RK: Aside from external support, did your exposure as a child play a part in choosing aviation?

SQ: Yes, the environment at home and having my father in this profession helped a lot. I worked in the automotive industry and as a student I used to work on engines and machines with my father. I also did a few internships at automobile and engineering plants where I got a lot of hands on practice on the factory floor. Besides even as a child my father had his private set up and both my parents were very involved in teaching us ever since our school days.

RK: Where would you say the inspirational force behind Aero Engine Craft lies?

SQ: A major part of this work was also carried out in Pakistan with the support of my father who acted as an external supervisor for the research. That is how my father came up with this breakthrough invention that was granted two international patents. I further developed the entire engineering model for it during my PhD research. I was offered a university studentship for my masters and PhD. This particular problem was given to me as a research question for my PhD thesis by my supervisor Prof. Pericles Pilidis in 2012.

RK: There are always many roadblocks in the process. Did they ever feel like a hindrance towards your goal?

SQ: Roadblocks are a part of pursuing your passion. I went for my PhD after my marriage and had to return to Pakistan after one year when my daughter was born. I continued my PhD for a while in Pakistan working at home while caring for a very young child. When I returned to the UK my family was here, I was a single mother there and the challenges of that are completely different.

Even as a young girl going into factories, I met with discomfort. However, I do believe the support outweighed the distress and most people treated me professionally. I was the only girl in my undergrad engineering class and I often felt like an outcast; one girl amongst 60 boys. But since I don’t find it in me to give up and because I was so supported, I was overwhelmed by the assistance and never felt hindered.

RK: How challenging was it to balance being a mother and being in this field?

SQ: It was very challenging. Your whole world shifts. You are no longer a single entity. But I believe that when you start something there is a lot of inertia which is why if you begin during the good, you can drag it through the difficult. That is how it was for me. I remember a meeting with my supervisor while I was expecting and I was asked when the baby was due, I said “tomorrow” (laughing).

RK: Since the idea was developed abroad, did you ever feel like you should’ve stayed in the UK?

SQ: I was offered to stay there. The response there was excellent and the resources and workspace is incredible. Pakistan lacks the infrastructure and in the UK, the stage is pretty much set for you. You just need to do your bit of work; here in Pakistan everything needs to be done from scratch. You need to first set your own stage before you even get a chance to perform. But that makes your learning curve very steep and it’s a very enriching experience. So, coming back was a personal choice. Pakistan is our identity, this is where we belong and the kind of acceptance and support there is extended here, can’t be found elsewhere.

RK: At NIC Lahore, how has it been for you to work in the facility and with the NIC team?

SQ: It was wonderful. I don’t think anything is possible not just without team effort, but without team credit as well. I was lucky enough to not just be supported by my family but be provided a space by NIC that allowed me to work as per my convenience. I can bring my daughter here and work at my own pace and comfort and I value that a lot amongst other things. NIC enabled me to commercially launch my company Aero Engine Craft (pvt) Ltd as a three-generation startup co-founded by my father and named by my daughter. I would like to acknowledge everyone who has been a part of this journey.

RK: As a pursuer of dreams, when do you think you’ll feel the target of your passion is met? What’s the future?

SQ: The future is going to take time because I am aware of the journey I am on. I want to be able to create awareness through it and I know that deep down I am an environmentalist and I want my engine to benefit society and humanity. When all the engines in the world use this technology, and we are able to counter global warming and save the planet, I will feel like the target is met.

RK: Is there any message or food for thought you’d like to leave young entrepreneurs with?

SQ: Value time. It has its worth just like money.  My time now has a price because of what I am trying to accomplish. Don’t be frugal with time, make it mean something. Do not follow the trend, rather follow your aptitude and passion; that is where you will be able to excel.

The current team;

  1. Sarah Qureshi – Founder and Chief Executive Officer (Aerospace Engineering)
  2. Masood Latif Qureshi – Founder, Inventor and Chief Technology Officer (Design, Engine Development, Manufacturing and spin-off Inventions)
  3. Pericles Pilidis _ PhD supervisor and Academic Collaborator (Jet Engine Technology)
  4. Romana Qureshi – Combustion Chemist
  5. Hassan Waqar – Aeronautical Engineer; Aircraft Performance
  6. Saif Ul Malook – Mechanical Engineer ;Computational Fluid Dynamics
  7. Abdul Ghaffoor –Technician
  8. Tassaduq Hussain- Machinist
  9. Adnan Arif –Network Engineer
  10. Noor Khurram – Data Manager
  11. Shermeen Ahmed Khan- Consultant; Finance
  12. Asim Naseer-Consultant; Business Development
  13. Zahra Qureshi- International Business Collaborator
  14. Adil Zeshan- Technical Writer and Content Developer
  15. Maryam Khan – Developer; Contrail Trading Methodology
  16. Wali Ali – Developer; Artificial Rainfall Model
  17. Hamza Mehmood – Graduate Intern; Manufacturing
  18. Adil Habib – Undergraduate Intern ;Aviation Systems
  19. Omar Nazir – Undergraduate Intern ;Environment and Climate
  20. Nida Rasheed – Graphic Animator

Secretary of State for International Development attends Business Education event by Ilm2 & British High Commission

The British High Commission organised a networking and exposure event for education businesses at LUMS National Incubation Center (NIC) Lahore marking the completion of their Ilm Ideas 2 project. The event held on February 21st 2019 was attended by Chief Guest, Penny Mordaunt, Secretary of State for International Development in the UK.

The event demonstrated a few of the start-ups from across the country that are actively working on improving the quality or access to education.

Andy Brock, from Cambridge Education, stated,

“I am really delighted to attend this event hosted by NIC Lahore. The facility has been very supportive throughout this project to showcase to the Secretary of State, a whole host of excellent Pakistani businesses and incubators doing a wonderful job improving education.”

About UK Aid

Funded by the UK’s Department for International Development (DFID), UK Aid Direct was established in 2014 as a successor to the Global Poverty Action Fund (GPAF), which was created in 2010. UK Aid Direct is a challenge fund designed to support the UK’s commitments to achieving the Global Goals.

The share of the private sector in the Pakistani education system is around 40% with a higher incidence in cities and about 65% of the market in low cost schools. Ilm2 is actively seeking solutions of all kinds which could find market in this vast low cost sector. It is working with technology companies like Multinet and SABAQ to develop engaging and localized digital content for primary grades. Other projects include support to companies like AZCorp Entertainment and their comic series for children, or Knowledge Platform, a company working on blended learning and assessment models for low cost schools.

lm Ideas II is providing support to twenty-one start-ups through incubators to encourage new private sector start-ups. The majority of them work on quality issues. As a result of IlM2’s interventions, approximately 43,790 children continue to benefit through various programmes and 15,417 children have been enrolled as students for the first time.

About Ilm Ideas 2

Ilm Ideas II (Ilm II) aims to engage players from outside the education sector, primarily the private sector, to develop innovative approaches to improving the quality of education or increasing access to education in Pakistan. It is a four year programme.  Ilm II is a national programme and currently has its footprint in four out of five regions (Gilgit-Baltistan, Punjab, KP, Sindh and in AJK).

About National Incubation Center Lahore

The National Incubation Centre Lahore (NIC Lahore) is a first of its kind Incubation & Acceleration platform, launched under the public – private partnership of the Ministry of Information Technology & Telecom, IGNITE, Fatima Ventures & Lahore University of Management Sciences (LUMS). Additional information may be found at www.niclahore.lums.edu.pk

NIC Lahore Batch 2 – A Recap

On January 10th, the National Incubation Center Lahore hosted the second investor’s summit for the graduating batch. The Summit is committed to making genuine and reliable contributions to the entrepreneurial community. NIC offers the perfect platform for networking as it brings together entrepreneurs and investors within Pakistan. The investors included 43 ventures, Fatima Ventures, Khurram Zafar, Almas Hyder, Usman Sabir, Umer Shah and several others. Each start-up was allowed 3-4 minutes to make their pitch – a fruit of their 4-month long incubation journey with the facility. The pitches included a demonstration of learnt skills, business models and financial ask.

Several raised the interest of the investors present hoping to secure a deal and promise themselves a more profitable future. NIC is a believer of providing opportunities to entrepreneurs and the investor’s summit is perhaps the most sought after event of our program.

30 start-ups were incubated in categories of Health, Education, Energy, Water and Agriculture.

Out of the 30, 15 start-ups graduated and were given the chance to present their pitches to investors.

The 15 start-ups included:

  1. Entertainment Pakistan

  2. Paycard

  3. Big Bytes

  4. MittiGhar

  5. Comic Con Pk.

  6. The Support Group

  7. Roady’s Café

  8. Mawazna.com

  9. Careerz360.pk

  10. Ilm Rohi

  11. Vceela

  12. AgriMart

  13. TrashMasti

  14. Home Innovation and

  15. RADA Technologies

Design Thinking

The graduation marked the end of a 6-month long journey inclusive of training sessions and one-on-one mentor-ship. Every start-up was given the opportunity to start their journey with a ten-day entrepreneurial development program. Soon after, they attended a 5-day workshop with the internationally acclaimed Shahid Khan and his design thinking workshop.

Industry Tour

The start-ups were also given a chance to visit the industry and learn from entrepreneurs in the business world, first hand. During the 3-day industry tour they interacted with and sat in sessions conducted by names like Daftarkhuwan, Fatima Ventures, Shakarganj and others.

Mentor-ship

Apart from the above events, the start-ups were regularly exposed to international and local mentors who provided them insight into the many facets of the entrepreneurial world so they may be equipped to step out. They attended sessions with lawyers, marketers, Silicon Valley entrepreneurs, social media experts, website designers, investors and financial leads so that the start-ups may understand the many branches of their business and cater to them all, effectively.

What we Stand For

NIC Lahore believes in ensuring that the very best deal is provided to the start-ups. To ensure a decent impression is made, the 6-month long journey was tiresome indeed but productive for those who served the purpose well, invested their energies and were dedicated to ensure they meet the prerequisites set by the facility. Whether it was a 5-year plan or the drafting of an investment brief, the highly acclaimed trainers of NIC Lahore equipped all the start-ups to the best of their abilities before they were given the floor to make their pitches to potential investors.

NIC Lahore believes in providing opportunities to the start-ups to the best of its abilities. The investor’s summit marks the end of a start-up journey and commences the start of a business venture. We wish to continue serving the entrepreneurial community by incubating and producing more deserving entrepreneurs with revolutionary business ideas.

Clever UI/UX Design trends for 2019

Websites have always been getting revamped by the makers to ensure they stay up to date and continue meeting the standards of the users. Because of this reason, websites today come nowhere near the websites that existed even a few years ago. Back in the day, when a website was created – the primary incentive was to get as much information on there as possible. The user and their needs were never taken into consideration. However, now; when a website is created the attention span and interest of the user are the driving forces behind content and design.

Website makers and business owners now spend months researching the psyche of the customer before they put out a final product to ensure maximized results. If you have to design a website, then here are some clever design trends for 2019 you should keep in mind to.

Credible Design

A well designed website never grows old. It plays a pivotal role when controlling and modifying the emotions of the user. It can persuade users to respond to the website in a certain way. This means the ease with which users can find their way within the website and how engaging it is in terms of content and display of information.

A good example to look at would be Amazon. Their use of patterns and the display of products on their webpage is what keeps urging and persuading users to click the “purchase” button. They simplify it even more by offering their customers the ability to purchase an item with just a single click. This kind of ease on a website has long lasting impacts on the users and becomes the primary reason why they keep returning to the website.

Recent psychology has proven to be a very useful tool in order to enhance the use of website design. Implementing this as a core of your design can help you validate the use of certain features once they’ve been proven to be popular amongst customers.

It can also help develop new theories and serve as a form of research to make up for deficits.

The Illusion of Control

It is the primary job of a good designer to translate his day to day interactions with people into the design they create and that is accomplished through control. This is how they can ensure a positive response from the people; by observing their response to the environment. A good designer is one that enables a sense of control through the design of their website. As human beings, the innate desire is to feel control in all circumstances. Through this illusion of control, a sense of mobility through motivation can be triggered within the users.

When designers take over the control and drive the user motivation they can gain the kind of responses they are looking for. This targeted motivation forces users to engage with the provided content in front of them.

Conclusion

There are a lot of stats that can help designers and website makers identify where they stand in the eyes of their customers.

However, it is only the use of clever design hacks driven out of human psychology that can truly maximize the results.

AYECo. Introduces Smart Canes for the Visually Impaired

From the first batch of graduates of the National Incubation Center Lahore, Faaiz Arbab, a student in the electrical engineering graduate program at Lahore University of Management Sciences’ (LUMS) urbanized a voice-operated smart wheelchair called GOBEE. AYECo. is the first and only manufacturing company in Pakistan producing Smart Wheelchairs and assisted devices. Their wheelchairs can be operated from a mobile application and relives the user from relying on any physical attendant for movement. AYECo. is also working on other assisted devices.

Taking his successful, useful and progressive start-up a step further; AYECo. Is now introducing smart canes for the visually impaired. Smart Cane is an electronic device to help people with visual disability to find a path without hitting obstacles.

What motivated AYECo.?

Low vision and blindness are important public health problems. People with visual impairment usually need support and assistance unless they get vision rehabilitation with the provision of low vision devices, orientation and mobility training and counseling for making specific modifications in their living environment for proper adaptation towards performing day to day activities and social integration. Most electrical low vision devices cost an arm and a leg, and that is the primary reason why the poor in Pakistan cannot afford it. The average cost of an imported blind man stick is almost $400.

According to the Journal of Pakistan Medical Association (JPMA), there are 2 million people in Pakistan, who are visually impaired and almost 1.7 million of them are not affording a cane which costs $400.

The Solution They Offer

We live in an amazing time in terms of finding technological solutions for people who have lost their sight. Each day seems to bring a new medical or electronic solution, making the world more accessible for physically impaired. AYECo. Is researching on electronic blind man canes for the blind community of Pakistan. The start-up intends to produce a smart, effective cane which will cost no more than $50.

After struggling with and manufacturing multiple prototypes of the Smart Cane made, the start-up has finally perfect their product.

The first prototype was not fold-able and demonstrated difficult vibration pattern. The second prototype was modified and made a compact remote with the electronic circuitry embedded in it. In this way, Smart Cane become a fold-able device.

The Smart Cane has a rechargeable battery and can easily attach a white cane to it. AYECo. intends to launch the Smart Cane in Pakistan. Their aim is to provide cheap technological solutions for assistive devices in Pakistan.

They wish to make Smart Cane more compact and connect it with smartphones so that it can help the visually impaired navigate with ease. We wish the team at AYECo. The very best of luck as they improve the lifestyle of the physically impaired in Pakistan, one futuristic product at a time.

Tech Leadership Summit 2019 to kick off on 10th January with speakers from Forbes, Amazon, HP and Microsoft

Tech Leadership Summit 2019, presented by OPEN Lahore, TechTalk, and CareAxiom will take place on January 10, 2019.

The invite-only event will feature a number of reputable speakers from Amazon, Microsoft, TechJuice, and Forbes.

New technologies and startups are emerging every day. From blockchain to Virtual Reality, Internet of Things to Artificial Intelligence, new technologies are changing every aspect of our lives every single day. With more and more people moving towards a digital and connected future, it is important to identify the role of technology in our lives and have a meaningful discussion over where the future is heading towards.

And who is better suited to talk about the future than the representatives from the companies who are actively striving to bring it to fruition?

That’s why OPEN Lahore, Tech Talk, and CareAxiom have joined hand to invite speakers from Amazon, Microsoft, TechJuice, and Forbes to talk about future technologies and their impact on our lives.

Tech Leadership Summit 2019, which will be held on 10th January, will feature notable industry leaders such as Salman Akhtar, President OPEN Lahore, Fahad Aziz, Contributor at Forbes, Rizwan Malik, Senior Product Manager at Amazon, Fatima Rizwan, CEO of TechJuice, Iram Nawaz, HP/Microsoft Representative, and Muneeb Khawaja, VP CareMerge.

The tentative schedule for the event is:

  • 9:30 AM – Welcome

  • 9:45 AM – Introduction to OPEN Lahore: Salman Akhtar (President, OPEN Lahore)

  • 10:00 AM – The Exponential Thinking & Future of Technologies: Fahad Aziz (Forbes)

  • 10:45 AM – Fireside Chat with Rizwan Malik (Sr. Product Manager, Amazon)

  • 11:30 AM – BREAK

  • 12:00 PM – Components of a true cloud-based application. Muneeb Khawaja

  • 12:15 PM – Faster Innovation, Faster Releases: Continuous Integration: Furqan Razzaq

  • 12:30 PM – Building a Testing Framework for Cloud apps: Mudassir Ali

  • 12:45 PM – 10 Ways To Market Your Products Free Of Cost, by Fatima Rizwan (Founder TechJuice)

  • 1:15 PM – Evolving Role of Technology Leaders: Iram Nawaz (HP/Microsoft)

  • 2:00 PM – Closing Remarks

The event will be held at the National Incubation Center (NIC) located inside Lahore University of Management Sciences (LUMS) and it is invite only. You can follow this link to submit an application to get an invite.

 

Note: To read original article click here.

The Importance of Deadlines for Entrepreneurs

There are several elements that work for regular employees but cannot be applied to entrepreneurs. However, what stays relevant and significant for both are deadlines. Deadlines are imperative when it comes to setting and achieving goals. For entrepreneurs, it is imperative that their deadlines be strategically specific and not capricious. It is only then that they can allow one to excel towards their goal and experience small wins on the daily as opposed to always stressing about bigger goals set for a longer future.

However, not exhibiting or following deadlines with a clear head can backfire. Some entrepreneurs get stressed and react whereas others get so caught up in the deadlines that they neglect major business priorities. For business newbies it is important to learn how to do things effectively. Deadlines can be daunting, but they can also excite, inspire and give your team the motivation and purpose. Here are some reasons why deadlines are important for entrepreneurs:

  1. You become liable for your goals

It is imperative for entrepreneurs to take the sole responsibility of several aspects of their business in order to ensure things ensue in the right direction. Deadlines have the power to grab one’s attention and that is how they define the varying levels of importance set for different tasks. Hence, regardless of who sets the deadline, if the objective is singular, it instills a strong sense of liability for attaining goals.

  1. They encourage positive impetus

Strategically set deadlines ensure entrepreneurs work towards meeting them. Approaching a deadline often spurs emotions and that is what induces in them the desire to act upon their feelings thus meeting or evading a deadline. Meeting deadlines instills a strong sense of positive impetus because it translates as a success. It enables entrepreneurs to believe in them and get excited for bigger deadlines. Despite the magnanimity of a deadline; meeting one is always positive.

  1. They tend to instill Creativity.

For entrepreneurs who feed on success, deadlines become a challenge that forces them to engage with their work creatively. They see deadlines as an opportunity for them to prove their own worth. It has been recorded that renowned individuals like Steve Jobs were known to set unattainable deadlines, primarily to set a singular objective for his team and force them to think creatively to meet it. Deadlines should be used to fuel creativity and should not be leveraged by entrepreneurs looking to remain motivated.

  1. They help Prioritize

When one sets a deadline, it helps them value not just their time but the time of everyone involved. It helps entrepreneurs struggling to make it big to organize and manage themselves and therefore, prioritize tasks not just for themselves but for their entire team. This is what enables them to keep the momentum going and not meet a standstill when it comes to meeting bigger deadlines that matter. Deadlines help say no when one feels like they’ve been stretched too thin.

  1. They keep you on your toes

Deadlines are a great way to identify what needs to be said yes to and what needs to be ignored. Setting a deadline helps entrepreneurs say no to various tasks and thus never compromise on the quality of the work being done. However, it is important to not slack and say “no” to pressing tasks out of sheer laziness. Setting deadlines to meet the expectations of the clients ensures that you stay on your toes. Additionally, it also ensures that entrepreneurs make only those promises that they can deliver. As an extension, this teaches them the integrity to run their business.

  1. They allow space for small failures and successes

For entrepreneurs with a team in place, it is significant to delegate. Seeping into everyone’s decision making process can become quite problematic and can only add to unnecessary delays. Therefore, as an entrepreneur or the founder of a business, one must allow the space for small failures and successes merely to identify what type of deadlines work for everyone. This helps establish and set productive, effective and strategic deadlines for everyone in the team, in the long run.

  1. Meeting Deadlines Builds Buoyancy

When one starts meeting small deadlines on a regular basis, it tends to establish a strong sense of faith and belief in one’s team in the long run. It equips entrepreneurs to approach bigger and more important deadlines with a strong sense of buoyancy. This is very effective in inducing customer happiness and enables more team members to take on more responsibility.

  1. Helps Assess Success

There is no denying that meeting deadlines helps entrepreneurs assess the calculable progress of their business. It helps them assess their own performance and the performance of their team members.

There are many opportunities that exist in the entrepreneurial world. These vary from international grants to opportunities that can change the face of a small business as we know it. Setting deadlines and approaching them seriously allows entrepreneurs to meet more significant deadlines in an organized and strategic manner and that is what helps them upscale their business.

UX for Online Business – A Short Series

Series 2: Essential UX Aspects for Ecommerce

There is a reason why people prefer walking into a physical store as opposed to ordering online. Primarily, this is because they enjoy touching the products they intend to purchase and experience them physically before having to decide. Online shopping has this one drawback – the inability for people to experience the product before buying it.

However, with properly implemented UX elements you can easily fill in these gaps and ensure increased purchases. A very basic example to accomplish this is to avoid putting in a lot of information all at once, avoid using complicated language and make things look simple and approachable. Following are a few other elements that must be kept in mind:

Making the First Impression

If a customer is not impressed with your home page and if you’ve struggled to leave a strong first impression, then don’t be surprised if they prefer a different retailer within the first couple of minutes. Not only does it need to be compelling, it must also focus and help the user focus. The easiest way to do this is to provide a captivating story to the customer telling them why you as a retailer are a better option as opposed to several others that exist. This does not mean you complicate it. Keep it simple and focused.

Have a Diverse Collection

It always helps to have a diverse collection. This can be displayed in a grid system with the most popular items appearing first. You can also recommend products that have received better reviews in the past. Don’t force your users to make purchases of items you are unable to sell. Instead, allow easy filtering and comparisons for them so that they are able to choose based on their interest. Using a grid allows more collection items to displayed all at once.

Marketing Scheme

Research and statistics in the past have recorded that almost 70% of the users abandon their cart post an online shopping spree. It is very important to treat the customers differently. It is important to ensure that if someone has added certain items in the cart, they purchase them and do not abandon them. Here are some ways good UX experience can be accomplished:

  • Use a marketing software for emails.
  • Make New offers
  • Use promotions on Social media actively
  • Hold Contests to intrigue users
  • Announce Sales with timers and
  • Offer Free shipping for a certain amount spent on purchase.

Plausibility

An online store can only build its plausibility and credibility as a retailer through demonstration of testimonials. You can have page ratings and reviews and even product reviews so that users can see what people have to say about the brand and the services.

Always Have Customer Service Strips

It is very important to sustain a well-made first impression all the way through to the future. Customers will evidently have questions that cannot and should not be ignored by the retailer. This is why it is imperative that your website offer tabs where they can leave their grievances for you to cater to. This can also be done through live chat boxes or customer service strips at the top or the bottom of the page.

Make Checking Out Simple and Secure

A secure checkout should be a priority for all retailers. Build a sturdy platform and follow it up with speed and security. A single click for checkout works best so this should always be the aim for the retailer.

UX Experience

A decent UX experience is what will guarantee that a user returns to your store. In order to do this, it is essential that the retailer thinks about how their user feels when clicking the cross. Whether you feel that your products lack some sort of a zeal, or even if the business is about bed sheets and herbal teas; photos make all the difference. Get creative to leave the user with a feel.

To Sum it Up!

From the first impression on a visitor to the last on a consistent user, A UX experience for an e-commerce business if very important.

Social Media Mistakes Marketers Often Make

When it comes to establishing new businesses, it is very important to be wary of possible mistakes in all avenues. One such avenue is social media marketing. In order to grow and reach maximum number of people, it is important for businesses to hire professional and trained marketers who hold the potential to develop rich, client centered and evocative approaches to maximize productivity. A flawed strategy can cost one a lot, so here are some social media mistakes marketers should avoid:

  1. Poor Choice of Social Media Platforms

It is very important to identify the social media platform being used before it is used – this enables the marketers to come up with a solid strategy. This identification comes through research and the assurance that the chosen platform adds to the business value. If a social media platform does not promise longevity of profit and increased opportunities, then you may need to think twice.

Facebook usually works in all cases – it allows effective communication and enables marketers to promote their product or services well. Platforms like Twitter allow connection in a very interesting and creative fashion – this biggest plus is the direct interaction with followers. If networking and branding is your desired results, Twitter is the way to go. Other platforms must be look at through a similar lens so you can decide how you can benefit from each in the best possible way. It is always better to use more than one platform, however, the two should be picked out after some strategic thought.

  1. Inconsistent Updates

It is imperative that your social media platforms be updated on a regular basis. Inconsistent updates not only make a bad impression but they also fail to accomplish the desired impact minimizing your reach to the audience. Not only should you stay consistent but also boost strong posts so that you reach a maximum number of people. Consistency tells your users that you are concerned with the frequency with which your business is putting information out there. This does not mean you post one thing or another without an end result in mind. Come up with a solid strategy that keeps reminding your users of your services without becoming spam.

  1. Develop a strong strategy

The newness or oldness of a business does not define the use of social media strategy. Whether you’ve been in the business for a while or are just starting out, it is imperative that you develop a strong strategy. It is this approach that will allow you to establish a certain kind of connection with the audience. If you continue to use social media based on whims, then you may continue struggling to establish any connection with the people on the other end. This can only begin once you’ve identified your target audience. It is imperative that the content being released resonates with the audience, it should also have a touch of personalization while being engaging as well.

  1. Observe and Analyze Page Performance

A website is continuously under observation and that is what allows marketers to ensure it is up to date and its performance is being analyzed. If you wish to be at par with the response of your audience, then you must observe their rate of response and analyze the performance of each post on the page. Analysis is what ensures that you care about your customer and are willing to modify your stance based on the response rate. It allows you to:

  • Calculate achievement levels
  • Identify strengths and laggings

These will allow you to maneuver future posts to the best of your company’s abilities.

  1. Altering Approach

Social media is constantly being evolved. Because of this reason an approach that was very effective yesterday, may not be operative today. You can easily build your own brand and understanding with clients. Several companies build their individual brand and then empower that idea amongst their users. You can do this through modification in the mobile landscape of your application, simplicity and ease with which customers can find their way. It is important to stay on top of trends and analyze what it is that the consumers are most receptive to.

  1. Live chats and streaming

If you’re wondering how you can benefit from live chats and streaming online, then here are a few:

  1. Allows consumers to make quick decisions.
  2. Allows ease in access to products.
  3. Expedites response time to questions put forth by consumers.
  4. Allows personalization in user experience.

Any company or business without their customers is a fundamentally failing one anyways. It is imperative that your marketers are prioritizing the customers and keeping their requirements in mind. Everything a marketer does must have a vision and a strategy. This can only be done through assessment and analysis of what is already done in the past and how it must be amended to continue gaining positive and effective responses from consumers, both old and new.