androdify my business - gbg mumbai

Androidify My Business – Event on Apr 16th. 3pm

Androidify My Business

Should you really build an app? If yes then how to go about it?

There are nearly 2 million apps on Google Play, a similar number in Apple App Store too. By 2017, it is estimated that over 160 billion (yes, billion) apps will be downloaded worldwide. All the numbers looks great, the success stories of college drop-outs becoming millionaires with an app is motivating for more apps to be developed with hope of making it big. On a flip side, as many as 25% of app users open an app once and never return. In a mobile first country like India, building the right app is crucial to survival of a startup/business.

We have an event just for you to understand how to get started with the app business, what kind of business needs an app, how to get started, what are the best practises, how to get early traction, why Android for India, etc.

When and Where:

Join us on April 16th Saturday from 3pm to 6pm at Zone Startups India, BSE Building, 18th Floor, Dalal Street, Mumbai 400001

Entry free – register here

Topics and Speakers:

Who should attend the event?

  • Early stage startups wanting to build an app
  • Entrepreneurs wanting to redefine their business through apps
  • Or anyone simply interested to understand the business of apps

Signup below and await your confirmation email. Mail us for any questions at [email protected]

*Speaker changed from Prajyot to Puneet.

The currency of trust and how companies like eBay and Airbnb mint it?

Sharing economy or collaborative consumption opened doors to many entrepreneurs to fully utilize their underutilized assets, skills, space or time. It has created digital marketplaces for offline services through Uber, AirBnb, ebay etc to exchange value at an unprecedented scale.

Although technology plays a crucial role in this economy, the very foundation of it lies in something more human-Trust. This secret ingredient empowers users to identify and interact with each other safely. Since it’s such a crucial part of what we do at RentSetGo, I would like to share my two cents on it.

Before the Internet, the traditional way of building trust in retail transactions relied on 8 factors, identified in a paper by P. Resnick and R.Zeckhauser[1] (2001) titled: “Trust Among Strangers in Internet Transactions: Empirical Analysis of eBay’s Reputation System”. Quoting from the paper, the attributes of building trust traditionally are:

(1) Most retail transactions are conducted locally, which gives individuals the opportunity to inspect them, as say with fruit in a rural market. If quality is discernible, no trust is needed.

(2) Retail operations tend to be large relative to their local market, be they vegetable sellers or the local department store. Buyers have frequent interaction with the same seller, and learn whom they can trust.

(3) Even when one’s personal interactions are limited, given that a retailer’s sales are concentrated in a locale makes it easy to develop reputations so customers learn about retailers from their peers.

(4) Retailer reputations are borrowed from other contexts. For example, retailers are likely to be pillars of the church and community, and would be highly reluctant to sacrifice the status that comes from such reputations.

(5) Reputations are built over many years; witness the reputations of Sotheby’s and Christies, the leading auction houses, which are hundreds of years old.

(6) Reputations are borrowed from others. Thus celebrities will attest to the quality of products.

(7) New goods benefit from established brand names, and policing of quality by those who own them. The product, not the retailer, wins the reputation.

(8) Significant expenditures – e.g., building a fancy store on Manhattan’s Fifth Avenue– indicates that one will be reliable, lest this expenditure be wasted, a form of signaling.

However, with the advent of Internet, things changed drastically. Buyers-sellers or hosts-travellers or lenders-borrowers in a sharing economy don’t normally know each other from Adam or in most cases, never even meet. Products sold, at times, don’t even have brand names to back them while customers rarely repeat and do not run into each other. So how do online marketplaces like eBay, Amazon or sharing economy poster boys like Airbnb and Uber really work and build trust within their communities?

Lets take a quick look into how 2 top players in their respective fields have managed to crack this problem.

eBay:

One of the earliest and best known Internet reputation systems is run by eBay, which gathers comments from buyers and sellers about each other after each transaction.

  • The feedback system allowed sellers to build their reputation from satisfied buyers and spread the word to a large population of potential customers through Internet at almost negligible cost.
  • Empirical evidence suggests that, more than half the transactions received buyer feedback, most of which was positive, fostering positivity and virality into the community.
  • Most importantly, as the participants believed this system was working, it deterred sellers from behaving badly, as it could result in a negative feedback and would be damaging to their reputation, hence future sales.

Airbnb:

In addition to the perks of the Internet that eBay enjoyed, Airbnb benefitted from the rise of social networks, which added another layer of identity to its members, fostering trust in the community.

As Airbnb CEO Brian Chesky puts it, “Trust, mediated by technology, is making a comeback. It’s what’s motivating millions of people in tens of thousands of cities around the world to book lodging with semi-screened strangers through this service.” Recent updates to the Airbnb review and rating systems have been implemented to extract more honest and accurate reviews from both the travellers and the host, that in the end benefit the Airbnb community at large.

  • To enable both the host and the travelers to leave honest reviews (praise and criticism) Airbnb now reveals their reviews simultaneously to each other after the trip has been completed. That way neither is affected by the other’s bias
  • As 90% of their reviews come within 2 weeks of travel they have shortened the review submission period to 14days, so that all the feedback is based on recent impression

Like these companies, others such as Amazon, Uber, TaskRabbit, Etsy, Threadflip etc have built impressive reputation models to support their communities and foster a trustworthy environment. Similarly, RentSetGo tracks user behavior through multiple data points and assigns ranks to its members using a proprietary algorithm in the backend. This helps in weeding out poorly rated members from the system and rewards good behavior by assigning higher search ranking on the platform.

In many ways, these reputation models form the core of any business based on sharing economy. These models have evolved considerably over the last decade and continue to do so with help of network effects, mobile and Internet penetration leading to the growing acceptance of such peer-to-peer businesses, and creating a cyclical, snowball effect. Reputation models leveraged by technology are the essence of the sharing economy and the future of this industry depends on how well we are able to extract the value of this currency of trust for the community.

[1] http://presnick.people.si.umich.edu/papers/ebayNBER/RZNBERBodegaBay.pdf

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All about Angel Funding

It is said that beyond bootstrapping, entrepreneurs running startups look forward to the 3Fs for seed fund, that is Friends, Family and Fools for taking the same leap of faith as they do and invest in their business with almost no questions asked.

There’s more to Seed Funding beyond the 3Fs, they are the Angels who provide capital for emerging startups and guide them until they reach a critical level to raise further funds or self sustain.

At GBG Mumbai, we are bringing you an Angel Investor and an Entrepreneur who has successfully secured an angel funding, to give you two sided perspective on the same topic – ‘How to approach and secure Angel Funding

Confirmed Speakers:

  • Ajeet Khurana from Mumbai Angels. He’s CEO at IIT Bombay’s SINE (Society for Innovation and Entrepreneurship)
  • Annkur P Agarwal, co-founder at PriceBaba

Venue: Seminar Hall, Harkisan Mehta Institute of Journalism, Mithibai College, Vile Parle, Mumbai.

Date & Time: Saturday, Jan 24th, 4.45pm.

Entry: Free of cost and by confirmed registrations only

 

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Event: Bootstrapping vs. Fundraising – When and How – Nov29th.

Read the notes from the meeting here gbgmumbai.org/vc-notes/

The world is full of ideas, everyone of us have a profound knowledge of something in our own field of work and an idea follows immediately to make it better. But then, Ideas are dime a dozen, the challenge is in execution. Of the many challenges that hinders executing a world changing idea is access to resources (aka money).

To take the plunge and getting things done is not everyone’s cup of tea, thankfully there are Angels (Friends, Family) who take the leap of faith along with a wannabe  entrepreneur to setup shop and grow the startup.

We wish it was that easy! Well, consider this scenarios:

  • Can your competitors take over the market if they raise capital and you bootstrap?
  • Can your business continue growing without external funding?
  • What are your chances for successful fundraising? or should you even try?
  • You may need the VCs, but does VCs need you?

If answering these questions was not hard enough, there are more jargons in the world of fundraising, Pre-Money, Post-Money, Rights of capital protection, Political rights, Liquidation preferences…does this mean one must give up hopes and resort to just bootstrapping?

Let us remember, ‘raising capital is not equal to success, not raising is not equal to failure’. Whether bootstrapped or funded, the money is just a means to an end. But how does one decide what to do and how to go about?

GBG Mumbai brings you an exclusive session – ‘Bootstrapping vs. Fundraising – When and How‘ where you can hear two perspective on the same topic; one from a Venture Capitalist, another from an Entrepreneur who recently raised funds.

Speaker Profile:

  • Prashanth Mehta, Partner, Lightbox Venture (Lightbox’s portfolio includes InMobi, Cleartrip, Naukri)
  • Prateek Shukla, Co-founder / CEO, grabhouse.com (the startup that gives you broker free house renting)

Date & Time: Saturday, Nov 29th. 3.45pm. Seminar Hall, Harkisan Mehta Institute of Journalism. Mithibai College. Vile Parle.

Entry: Free and by registration only. Please fill the form below and await your confirmation.

Who should attend? If you are a startup or intending to start one in the near future, and would like to know how to the nuances of bootstrapping and raising money, then this event is for you.

Event: User Experience (UX) & Its Impact on Business – Nov 15th

Spork

Technically, a Spork is supposed to provide best of both – a spoon and a fork, but it neither provides the simplicity of a spoon nor the utility of a fork to eat complex food. No matter how nice the design is, or of what material (steel, plastic, gold!) it is made up of, the spork is an epitome of bad user experience in the world of dining experiences.

The need for a good user experience (UX) is a need than a want. A good design (UI) does not necessarily qualify as good UX. The challenge to provide a great UX for your customer only intensifies in digital side of your business where a human interacts with a machine, and no two user may have similar technical savviness to browse through a labyrinth and arrive at what content / product they were looking for in your website / app.

Think of two big giants in digital buisness – Google and Amazon, both are known for their simplicity in UX; think of Search, Gmail, YouTube…or finding a book on Amazon. All of it looks just ok from a design stand point of view, but have you ever found it difficult to use any of these services? Certainly not! that’s the beauty of having a great UX.

A great UX is not seen, but it is subconsciously felt and experienced by an user on your site or app, it is what increases usability and loyalty towards your business in general.

Whether or not apps and websites are at the center of your business, We are sure there’s a digital element to every business. Today, UX is a must-know area for an entrepreneur to succeed in business by increasing usability and enhancing user’s experience to garner loyalty. Here’s a great chance for you to learn more from the experts.

Topic: User Experience (UX) & Its Impact on Business

Speakers:

  • Sreeraman, Chapter Manager, GBG Mumbai: Keynote address
  • Ajay Menon, COO, Zoomin.com: Impact of Design on Startups
  • Debu Purkayastha, Founder at Rubberstamp: Design’s Impact on Communication and Customer Engagement

Date and Time: 15th Nov, Sat. 3.45pm to 6.pm

Venue: Seminar Hall, Harkisan Mehta Institute of Journalism, Mithibai Campus, Vile Parle, Mumbai.

Entry: Free and through Registration only. (scroll down below or click here )

AdWords Certification Workshop for IIM & IIT Indore by GBG Mumbai

GBG Mumbai in association with GSC of IIM & IIT Indore is conducting a day long workshop leading to certification in Google AdWords & Digital Marketing.

AdWords certification is a professional accreditation that Google offers to individuals who demonstrate proficiency in basic and advanced aspects of AdWords.

This program is currently exclusive for students of IIM & IIT Indore.

AdWords Workshop conducted by Sreeraman, Chapter Manager of GBG Mumbai
AdWords Workshop conducted by Sreeraman, Chapter Manager of GBG Mumbai

google business group - event - ecommerce

Deep Dive into e-Commerce

Did you hear about this, 40,000 units of Xiaomi Redmi 1S smartphones sold in 4.5 secs on Flipkart? Ya, we heard that too and wanted to help our community members to figure how to do cool things like that.

So, here’s our next event, it is all about the big booming eCommerce in India. How to get started, how to optimize your existing store, how to create a fulfillment model that’s efficient and then we added even more interest things like, what is Hybrid Commerce, why should you care to know about it? What roles does vernacular language play in eCommerce?

Get to know it all, we have the best in business as our speakers this time. Sign-up soon, limited seats and entry by Invitation Only

Speaker Profile:

Mr. Rajaiv Prakash (IIM-A, former CEO of futurebazaar.com, currently founder and CEO of Next In Advisory Partners where he helps multiple startups leverage the power of eCommerce)

Mr. Harish Singla (ISB Hyderabad, Director and Co-founder of REIT India, An eCommerce Enabler for Selling Online. REIT India builds connect between Brands/Labels and eCommerce Marketplaces with its professional ‘End2End’ services.

Date: 20th September | Venue & Time: Will announce soon.

Queries? write to us at [email protected]

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One on One with Google

Dear Member,

Most of you know that GBG Mumbai is a stand alone initiative and is independent from Google, the corporation. Almost all our events are organized based on our understanding of what suits you the best and hence we conduct events & bring in speakers who are expert in their own domain to help you use technology for business success.

Now, GBG Mumbai brings you a unique chance to take your entrepreneurial venture to the next level; for the first time, here’s a chance to get your start-up mentored by some of the brightest minds from Google through One on One sessions.

This is available exclusively for GBG Mumbai members.

To register yourself for the one on one program, Do fill in the form below and await a response soon.

Note: Filling the form does not automatically qualify you, please await a response from us or Google directly.

 

Queries? Write to us at [email protected]

Event: Learn to use Google Display Network

Whether your business is into making yummy cup cakes or building the next Candy Crush app, you have the constant need to meet the right audience and grow your business by creating awareness and generating leads.

For a start-up, the challenge increases even more, thanks to limited budgets and lack of a full fledged marketing campaigns. So how do you address these challenges?

Google Ads empowers your business with Google Display Network (GDN) which can:

  1. Generate Awareness: by getting your ads in front of consumers, so they can learn about your business as they consider their options. The more that people research in your business category, the more important it is for your products or services to stand out from the crowd.
  2. Increase Sales: by getting your ads on relevant sites and in front of more people, more often, so that when they come to buy, it’s your business that’s top-of-mind.
  3. Drive Loyalty: by re-engaging interested consumers. Target your ads to people who have already visited your website, even if they didn’t buy anything. Reminding them of your business is likely to bring them back to your website again and keep your business top-of-mind.

At GBG Mumbai, we have always been around to help you use technology for business success, we love start-ups and SMEs. So, join us to take your business to the next level as we bring to you a interactive and detailed session on GDN.

Entry: Free and by registration only (scroll down to register)

Event Date and Time: July 19th, Saturday. 4.00pm to 6.30pm 

Address: Seminar Hall, Harkisan Mehta Institute of Journalism, Mithibai College, Vile Parle, Mumbai.

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Agenda:

  • 3.45pm to 4.10pm: Registration and Introduction
  • 4.15pm to 4.30pm: Learnings from Google I/O 2014 by Sreeraman Thiagarajan (Chapter Manager)
  • 4.30pm to 6.30pm: Google Display Network Session by Sandiip Porwel (Founder and CEO of Virtual Snipers)
  • 6.30pm onwards: Group photo session and networking break (hot beverages provided)

Note: The event is a interactive session tailored to benefit entrepreneurs, small business owners, bloggers and SMEs to understand and implement Google Display Network and Google Ads to promote their business No programming skills or prior knowledge is required. Anyone interested to learn is welcome.

Please come on time.

Cheers and see you on 19th July at 3.45pm.

Got any questions? write to [email protected]

 

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Google I/O Extended 2014

UPDATE:

Thank you for voting!!

Google I/O Extended is happening at IIT Mumbai. Visit http://www.gdgmumbai.org/events/io14.html to know more details and to signup.

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The GDG, GBG & GSAs of Mumbai are trying to get you the live experience of Google I/O to Mumbai.

If you want Google I/O Extended at Mumbai, then tell us here and we will organize the event.

Please note the timing are 9PM to 5PM on 25th & 26th of June.