Skip to main content

SHARING IS CARING !..... EVEN FOR STARTUPS !


The Shared Economy Concept, at its core, is based on the most efficient use of money and resources. In the era of start-ups, gathering the resources is the most challenging aspect of any start-up. The broader vision of the founders of a start-up need to be simplified into micro plans so as to achieve the objective initially set. These micro plans focus on the resource requirements of the start –up. By resource requirement we mean all the tangible and intangible forces which are needed to build up the venture. It includes manpower requirements, space requirements and funding to name a few. Since the funds available to a start-up are usually limited, manpower planning plays a crucial role. An essential ingredient to effective leadership is to manage the resources efficiently. As the funds are limited, resource sharing can play an important role in the success of the venture. The technological advancement across all industries today makes resource sharing a very convenient and appropriate choice. An effective human resource management technique is to hire freelancers for specific tasks. A lot of female workforces of our country, who are on a career break but enthusiastic and willing to provide their services through flexible working options, are being taken on board at reasonable cost by the start-ups.





Similarly, the marketing function plays a crucial role in the success of any start-up. However, establishing a fully fledged marketing department cannot be an economically viable option for any start-up. So in such a case, a part time marketing team can be hired or you can say the marketing function can be outsourced in order to reap the benefits of expertise at a pocket friendly cost. Outsourced CMO at present is providing exactly this service with expert marketing strategies at reasonable cost.

 Classic example of success through resource sharing is that of eBay. The uprising of eBay led to the strong foundation of the sharing economy. There is no question that the sharing economy, where users are able to rent what they want, be it skills, a room, or a car has disrupted the traditional economy. When a company is still small, it doesn't need a full-time marketing department. It probably also doesn't need a full-time IT person, a dedicated accountant, or a company chef. Conveniently, these jobs can all be hired out to freelancers.

Today a start-up can hire someone to build its web page or someone to create the text of its brochure, hire someone to do its corporate taxes or help it to manage its fund professionally so that it can pave its way to success. Collaborative consumption offers economic benefits for everyone involved. With the proliferation of online jobs and ride-hailing providers such as Ola, Rapido, Quick ride, and others, people can now work from the comfort of their home and use their owned vehicle to generate an extra source of income. People can also sell unwanted pre-owned items on portals such as OLX and eBay. This ensures the seller makes some money on commodities that were otherwise futile. On the other side of these arrangements, you may eliminate the cost of car ownership, reduce your travel expenses, and secure valuable financial support for a new business idea that may not have been fundable otherwise.

Sharing economy’s contribution to societal concerns isn’t just restricted to the environment. One very important aspect of sharing economy is instilling trust amongst community members. Earlier the apprehensions of having unfamiliar faces as guests soon were overcome by strong driving principles that led to the creation of the Airbnb community. Many sharing economy platforms, such as ride-sharing apps like Uber and Airbnb, have built-in ratings and reviews that help keep providers and consumers honest. These trust-building efforts help the share economy participants see one another as equals, building constructive relationships where none existed previously.



While these are still early days in the resource sharing and not all is green, the potential it holds is second to none. As technology takes giant strides forward reducing processing time, increasing capacity and a wider interconnected network, it’s only fair to assume it would add on to empowering communities as a whole with sharing economy at its center. To make sure that your business survives the current economic turmoil, look for ways to move with the current, instead of against it. Thus resource sharing can benefit your business if you let it!

Comments

Popular posts from this blog

Why should Startups look at unsuccessful entrepreneurs as business mentors?

Entrepreneurs, particularly startup entrepreneurs are risk takers. We do not conform to the norms of safe play but are always on the lookout to push the boundary of trade and commerce to develop new opportunities and markets sometimes even where none exist.


We know that failure is the stepping stone to success and are not deterred by our own failures but press on towards our goal with single minded determination and take the help of people who have got the experience and calibre to help us.
So why is it that we do not even think of taking the help of people who have done it and seen it all but were unable to achieve their goal. Yes we are talking about unsuccessful entrepreneurs!
Anyone who embarks on the entrepreneurial journey dreams of his startup achieving great heights in the days to come but the unsavoury reality is that 90% of startups in India fail within the first 5 years.
They fail not because of want of dedication, effort or enthusiasm but despite that due to common mistakes …

Outsourced CMO is no more a path less trodden

Money View, one of the fastest growing start-up in consumer lending space with over 10m app downloads till date, joins the growing family of Outsourced CMO.
But what made Money View, which already had a fully functional and successful marketing team, hire us? Instead of opting for a more conventional route of hiring a CMO? Because only Outsourced CMO, by virtue of our unique model, is able to offer the perfect blend of CMO function and marketing consultancy. And most young organisations growing at phenomenal pace will not only need a robust marketing function but also a strong external, perspective with extensive multi-sector experience.
Outsourced CMO has over the years been able to successfully resolve the pain point of startups / SME of hiring senior experienced marketing professionals at an affordable cost which has benefited  these companies to control the ballooning resource cost.
OCMO has demonstrated its capability to handle the entire marketing function of companies, from strate…

4 long years of Painful yet Successful journey of "Outsourced CMO"

It has been 4 long years since I made the life-changing yet the most difficult decision of my life, the decision of leaving a completely stable, well-paying job & the last one from the major business conglomerate of India ,to work on a completely unique, least known concept. The decision of leaving the well-paying job proved to be even more difficult, especially if you are the only earning member in the family, with retired parents and several mouths to feed, taking care of various loans stacking up, which is the true scenario in my case. Amidst all these, doubt and anxiety were at its peak as entrepreneurship appeared as an alien term after giving more than two decades to the corporate world. Self confidence and faith on the concept of "Outsourced CMO" was the only driving force to keep me motivated through the journey as I was confident that the concept of “Outsourced CMO" is the much-needed concept in the world of SME/ Startups, as it's an expensive business fo…