How to overcome competition in Business?

Even when you have the most unique idea to start a business, or the best trade secrets in hand, sooner or later, there will be competition knocking at your door. Competition can be either from an already established player in the market or a new player who has just entered the scene. Healthy competition is good for any kind of businesses.

Both kinds of competitors can affect your business and you must evaluate the challenges that they can pose to you. Evaluating your business competition will help you to stay on the top of the game and tone down any unpleasant surprises that may come up.

For a startup business, it is very important to see that you don’t spend above your means. Now, startup companies are being highly encouraged in Kerala and Kochi is the best place to start almost any kind of business. You must make sure that you begin your office in the business center of Cochin.

Starting an office in Kochi is very expensive for a startup company. For such companies, it is always best to use shared space in Cochin, which will provide all the facilities that a normal office would offer. When you are using a shared space instead of renting a real office space for your startup you can save money for marketing your products.

The world is well connected via the Internet now and hence keeping a tab on your competitors is not a really tough job. Doing a quick search on the Internet will give you an idea of the competitors for your business. You must also know the market that your competitor is catering to and the marketing methods employed by your competitor. Even when you are only a startup company, it is important to employ marketing methods to build your business.

Holding frequent meetings with your team is important when you are a start up business. It is also nice if you can attend common meetings where all your competitors come together.

To compete against your competitors, you must know your competitor and all the services they are providing. You must also know what your customers think about their service, so that you can improve your service based on this.

You can make use of conference rooms and shared meeting rooms in Kochi to hold your business meetings. Shared meeting rooms are equipped with all modern facilities like WiFi and video conferencing.

Most of the virtual office providers would provide a private cabin where you can meet up with clients or hold interviews. Thus, even when you are not using a real office space for your office, you can look professional to your clients and partners.

How to Hire Employees for a Startup Company

It is important for entrepreneurs planning to hire their first employees to proceed with caution. You must be able to choose the perfect employees for the salary you are investing. Every penny that you are investing is a risk and salary of employees is among the biggest risks.

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What if you choose an employee who does not work to his or her full capacity. This is not acceptable in a startup environment. Firing one employee and choosing another also is a waste of time and resources, which is not often affordable to a startup.

You can follow the following tips when you select employees for your startup company.

Hire for the desired skills: It is always better to hire employees who have at least a few years of experience in what they are doing. For a startup company, mistakes are often not affordable. Also, you might be able to hire only one staff for a particular job. Hence, it is important to choose employees who have some experience in the work they are going to do.

Don’t put extra weight on experience: Though experience is important, that must not be the only criterion of your selection. You must choose experienced employees who are able to fit into your working culture. The higher the number of years of experience should not be the only criterion.

Never hire out of desperation: This is the last thing you must do. You do not want give in to the temptation of hiring the first aspirant that comes to you. It would be best to keep your standards high and wait for the best person.

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Tell them why they should join your company: You must be able to make your potential employees excited of the prospect of working with your company. Stress on the benefits of working in a startup and win over the candidate. You must also prove that your respect the candidate’s capabilities.

It is important to hire good talented employees for the success of a small business. Startups cannot afford to invest in employees who may or may not perform up to expectations. So, recruiting the best suitable candidates is crucial to make the company grow at the pace you expect.

What must a Virtual Office offer?

Virtual offices are indeed getting popular in Cochin. Since this is only a coming up technology in the city, most of the young businessmen and entrepreneurs are still unaware of what all a virtual office must offer. There are some reputed virtual office providers in Kochi and before you choose one for your business, you have to make sure that they offer all the important services that you business would require.

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Some of the most important functions that a virtual office must provide are as follows.

Virtual Address: This is among the most basic offerings of a virtual office provider. A good virtual office provider must be able to offer you a reputed business address in the business centers of the city. Your address must be unique for your business and no one else must be allotted this address.

Virtual phone number: You must also get a virtual phone number which will be a dedicated landline number. This number is either forwarded to your personal number or voicemail or answered by a virtual receptionist. A landline number is often preferred over mobile numbers because it increases the credibility of your business to your customers. Your home landline number would not work well, because it is not going to be exclusively used for business purposes.

Mail Handling: When your customer sends you a cheque or a document to your virtual address, there must be someone at the virtual office to receive it and forward it to your personal address.

Cheque Depositing: This is another option offered by virtual office providers. Depositing checks through an ATM is generally safe and this can easily be entrusted to your virtual office provider.

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Virtual Receptionist: A virtual receptionist is also available with the best virtual office providers. The receptionist will answer your customer calls and answer their queries. The call will be transferred to you only if she is unable to handle the call.

Shared Conference room: You would also need a shared conference room or meeting room when you are signing up for a virtual office space. Shared conference rooms in Kochi is often required for small businesses which require a meeting place for their clients and partners. It would not be professional to meet your clients in a coffee shop or restaurant.

Ensure Security when using Virtual Offices

Security is one of the major issues that is posed to many small businesses that want to change from the traditional office setup to a virtual office setup. You feel there is a danger of your company data being accessed by people you don’t know properly. You could also be worried about company emails and phone numbers being used for derailing your business.

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Such fears are not unwarranted and it is necessary to take the precautions for safeguarding your business from invasion when you are using a virtual office provider in your business.

Here are some of the most common security issues that are faced and how to tackle them.

When you are shifting to a virtual office setting, you have to make sure that you understand the company well before you give in your personal details. It is very important to ensure you’re your business calls will be answered only by a professional receptionist. The receptionist should be properly trained about how to conserve vital information regarding your business. You should make sure that she forwards calls to the right people when required to do so.

You must also restrict the people who can have access to your voice mails at the virtual office.

Another important point to be ensured is that the calls made to your personal number from the virtual phone number are channeled through a secure system. To ensure this, you have to make sure that you hire a reliable virtual office provider for your purpose.

You must also come up with a strict security policy at your virtual office and you should make sure that this is followed by all your employees and clients. Proper guidelines should be issued to keep your business data inaccessible by unauthorized people.

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You must also secure and upgrade your website so that the identity of every computer that is used to view it is obtainable. Always remember that sharing online information without any proper checks can lead to major security issues.

It is also important to back up your files provided at the virtual office so that loss of data under any circumstance will not affect your business.

Virtual Office Technology

Today virtual offices are becoming much more preferred than the traditional office setup. The growing infrastructure costs led to the development of alternative ways to set up an office cheaply. When you use virtual office setup, the employees can comfortably customize the office timings to fit into their personal schedules.

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As a business owner, you concern should be that the employees complete their work within the confirmed time frame. You will see that using virtual office will considerably increase the productivity of your employees.

The technology that is used for virtual offices is a simple one. A virtual office has to satisfy all the functions of the normal office along with more positive additions. The idea of a virtual office is to use the internet effectively and to combine it with other resources to make a reliable solution to office space requirements.

Although the main idea of virtual office revolves around internet, it also has other components like telephones and whenever required, human input into this arrangement.

A reliable telephone system is required to handle all your customer requests even when your employees are not sitting in an office.

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A virtual office setup offers you a personal telephone number in the city and the phone calls to this number can be answered by the virtual office receptionist. She will transfer the call to you only if the call cannot be handled by her. This way, you can effectively manage your time, without spending money for an extra employee. Note that a virtual receptionist is not going to be solely working for your company. A virtual receptionist will handle will calls by all offices working within the virtual office setup.

Running a virtual office depends on best employing the latest technologies that are required to run one. You have to use your resources well and choose the virtual office plan that suits you best.

How virtual offices helped businesses in Kerala?

The emergence of virtual offices is definitely very beneficial to all small businesses and entrepreneurs who want to shift from the traditional office setup. The amount of money that can be saved by using virtual office setup instead of a traditional office is what marks the major advantage of virtual offices.

A virtual office allows people to work from anywhere, thus connecting everyone in a company no matter how far they are located.

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For an entrepreneur or a small business, the rising cost of infrastructure is a huge investment. It would be really great if the cost of running an office could be cut from the expenses and this is exactly what a virtual office setup can do.

The cost of running a business via a virtual office is much lesser than a traditional setting. You don’t have to pay the rent for the office space as your employees and you would be working from either their homes or their most convenient locations. When you are a business owner and have to travel a lot for your business needs, a virtual office helps immensely.

As long as the employees work within the deadlines set up by you, you have nothing to worry about. Other costs that you can save on are electricity, water and other bills which would have been necessary in a traditional office setting.

Several businesses that opted to use virtual office over traditional office have reported an increase in their productivity. Though it is true that your employees can be tempted to doing other things in midst of work, you can be sure that they will find a way to cope up for the lost work time and deliver the work in time.

An employee can also earn much more when they are working from a virtual office setup. Several costs like transportation are reduced when they start working from home. A virtual office is a perfect solution for business owners who are trying to save some money before they start making profits.

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You can also run multiple businesses from a single virtual office. Software that can handle several business lines is available with all virtual office setup. Simply choose a different phone number for each business. This helps you save money on setting up multiple business offices. In a virtual office setup, they also offer you the services of a receptionist to handle the phone calls for your business.

For business owners who are looking for more flexibility in running their business, a virtual office is the perfect solution.

Spacelance is a premier provider of Virtual office in Kerala. Spacelance started the first virtual office in Kerala in January 2013. Spacelance is offering 3 plans right now.

How to Choose a Perfect Virtual Office?

Virtual office is definitely a better option than traditional offices. However, when you shift from a traditional office setup to a virtual office setup, you need to make sure that it will help you in running your business successfully. It is not good to choose a technology that would not work properly for you.

We already know that a virtual office setup is much more advantageous than a traditional office. You have to properly make use of the facilities offered by virtual office solutions to make success out of your business.

The way you have setup your virtual office will help to determine the success of your business.

A good virtual office is one that carries its duties much more efficiently and promptly. They must be able to provide all theb features that they have promised. If you are using a virtual office solution with receptionist service, then you have to make sure that the receptionist has a clear idea of your business and can talk to your customers without your help. The customers have to be forwarded to you only if the call requires expert handling.

Another important point you have to take care of this is that there should be proper flow of information between individuals in the virtual office. You must get all the details of your customers within the desired time frame.

The telephone network used by your virtual office provider has be reliable and clear. If this is not so, your customers are not going to be happy with your service. Make sure you test the services before you select your virtual office provider.

The virtual office provider you choose must not be too expensive as well. The costs of virtual office solutions must be much lesser than the traditional office costs.

You must also make sure that your virtual office provider offers shared conference room and meeting room facilities. This would be necessary to meet your clients or partners once in a while.

Remember, if your clients face several delays in service and unnecessary setbacks, they are going to be disappointed with your company. It is therefore very important to set up good standards when creating a virtual office setup.

Why you must choose a virtual office for your business?

Using a virtual office is really important for small businesses and entrepreneurs who are planning to start their business as fast they can. One of the best advantages of using virtual office solutions is that you can get your office started almost immediately. As soon as you sign up for a virtual office plan, you will be allotted a virtual address and telephone number. You can right away start using these services for your business.

Some of the reasons why you must definitely opt for a virtual office address are as follows.
Apart from handling your calls, you need a prestigious address for your startup business. Having a proper business address increases your credibility to a great extent. Having a virtual office address also enables you to get your mail delivered correctly.

Who wants to be bothered with rental contracts and lease agreements when you can get an address in the city at less than a fraction of the cost of renting a real office? Virtual offices solutions offer you this advantage.

A professional virtual office provider would have all the staff required to run several offices. They can also offer you a receptionist to handle your customer calls and take their messages for you in your company’s name. thus you will be able to enjoy the services of a receptionist without hiring an extra staff for this.

The best virtual office solutions will also offer shared meeting rooms and conference rooms in Cochin where you can hold meetings with your clients. Such meeting rooms are not going to be as expensive as hotel conference rooms and meeting rooms.

You can definitely reduce your expenses for running an office by making use of virtual office solutions. You don’t have to pay utility bills or employee salary when you are using virtual office solutions.
If you are a new businessman, then you definitely need to test the waters before you make a plunge into it. A virtual office setup would be best for such entrepreneurs and small businesses who want to test the market before they make any major investments.

The best part of operating via a virtual office is that you can be always on the move while your office is being handled by someone responsible. This way, you and your employees can work from anywhere provided you have an internet connection.

Altogether, when you operate using a virtual office setup you will be able to enjpy more productivity as your employees can work from the comfort of their homes and prioritize their working hours. In fact by using a virtual office setup you can operate your business from several parts of the world with staff working remotely in different time zones, yet fitting their regular working hours respectively in their own country.

How to Identify Business Opportunities

It is not very easy to identify what kind of business is appropriate for you. You have to consider several points before your identify your business opportunities.

Understand the market inefficiencies:

You have to find out the inefficiencies in the market before you start your business. When you understand the inefficiencies of the market, you get a new business idea. For example, FedEX identified the inefficiencies in the package delivery market and worked to remove this inefficiency. That’s when a successful business is born.

Remove all the Hassles: You have to be a customer yourself and understand the hassles when buying a product or service. It is not always a requirement to create a new product or service. For example, look at how the search engine developed. There were a million websites available on the Internet. However users were unable to find them easily until the search engines like Google and Yahoo came up.

Understand customer requirements:

Know what the customer would really love to have and based on this develop your business idea.

Select a growing sector:

When you select your business idea, it is important to choose a sector that is growing in the industry. For example, a lot of IT companies in India did well because there was a growing need in this industry.

Creating superior products: It is important to make your products lead the others in the market in terms of quality. After your customers realize the quality of your product, they would be ready to spend a little more for your product if required.

Be careful if you are picking a seasonal business: If you are choosing a seasonal business, then it is important to consider how to operate during off-season months. Handling the cash you make during the season properly will help you get through off-season. Fiscal planning will be of utmost importance in such cases.

Why Start your own Business

Entrepreneurs are being highly encouraged in Kerala now. The idea of starting a business of their own is now highly accepted by the youngsters today. Some of the main reasons why you must start your own business are as follows.

You can put your own ideas to work: When you plan your own business, you are your own boss and you have the freedom to put your ideas to work. You can spend your time in developing your own ideas into a successful business.

You are your own boss: You decide what you want to work for and everything else. You don’t need anyone’s approval to run the things you want to. In a corporate environment, there are several cases when you will have to go by the decisions of your employer. When you are running your own business, you get to choose how you are going to run your business.

You can choose the location: Choosing the business location is also your decision now. You can choose the business to operate from near your home.

So much earning potential: When you run a business, you are the owner and you will be earning a lot more when your business is in success mode. Some jobs may make you feel like there is no career and financial growth. This is when you have to start thinking of your own business. But, remember there is a downside to this. There is no guaranteed pay here.

You can choose when you want to work: There is flexibility of working hours when you are running your own business. Most of the successful businesses that run today are the result of long and hard working hours. But, at least you get to choose when you want to go on your vacation.

You can leave behind a family asset: Most of us work today to secure our future and that of our loved ones. When you own a business and make it successful, you can pass it down to your future generations.