Business Model

It is an analysis tool that will allow you to know who you are, how you do it, what cost, what means, and what sources of income you will have. Defining your business model is knowing what your DNA is, how to make it, how to modify it, how to polish, how to change, how to mold

We could spend days and days rambling on the concept of ‘business model,’ but since we at Emprendedores presume to be very practical, defining your business model is knowing your business’s DNA. It is a tool that will allow you to clearly define what you are going to offer to the market, how you are going to do it, who you are, your customer, how you are going to sell it, and in what way you are going to generate income.

And why is it necessary – even vital – to define your model? It will help you know “what is going to happen and who will pay for what, when, and why. The simpler the business model, the better it works.

“An accepted definition is – says Javier Megías, an expert in strategy and business models – how a company creates, develops, and captures value. But this is very ethereal. In the end, the business model is a vision, a set of everything that is your business”.

For Joan Riera, professor at Esade Business School and CEO of Active Development, the business model is like the pillars of the future business: “They are the foundations. If you are going to build a building, which would be your business, you define where the columns go. That is why the business model is critical to think about before launching an idea on the market. Many entrepreneurs start with the business plan without having thought through their model.

Much more than income

Earning money – generating income – would be the consequence of the process. It is necessary to define and fit a whole series of pieces (which we will see later). “The key questions that any business should know how to answer are: who is my customer? How and what am I offering to the market? And how am I going to make it sustainable over time?” says Joan Riera.

Designing a business model is valid for start-up entrepreneurs and established companies. After drawing and structuring it, you must test it by changing some pieces and seeing how everything behaves,” recommends Riera, who adds.

How many clients pay you?

Thus, to validate all the hypotheses on which you are building your business model, the idea is to go down to the market, that is, talk with clients to find out what they think, with experts in the market in which you are going to operate, etc. “Although the best test to know if it works is to have clients who pay you, because, in the end, an investor is going to ask you how many clients you have who pay you,” says Riera.

For Megías, who defends the idea of ​​executing the business model as soon as possible to see if it works, “the entrepreneur must design his minimum viable product to teach customers and give him feedback. And the keyword is the customer because it is perfect that you think or predict that they will like your product, but the reality is that the one who has to say good or bad is your customer“.

Customer and product

One of the critical questions is, do I build products for my clients, or do I seek clients for my product? “When you are a large company, you know who your customer is, you know him, and you design products for him. When you are an entrepreneur, you have no idea who your client is. You imagine it at best. I always recommend entrepreneurs build a product that they think is good for their clients and seek their product. If you have searched and have not found, obviously your solution did not make sense”, says Megías.

This expert believes that any entrepreneur’s mantra should be to bring their product to market soon: “Try it fast and fail fast and cheap. How do you manage to validate your business model? Not because a client tells you that your product is interesting and that it meets their needs. The only way for a customer to validate your business model is by purchasing your product. Many entrepreneurs are wrong to think that because they have created a beta or are offering it at a ridiculous price, and some customers have told them that they liked it, their product is fine. But that is a mistake because it is not a qualified opinion. How could you not like something free; It would have to be very bad for him not to like it!”.

How to keep your workplace safe

Health and safety actions in the workplace are essential for both employers and employees’ well-being. As an employer, you have a legal accountability to provide a safe and secure work environment.

Hazardous working conditions put your workers at risk and reduce productivity and engagement. If your employees know that they safe against any unforeseen event or accident, they will feel safer and work more efficiently. As a result, the productivity of your SME could increase dramatically.

Why is safety in the workplace so important?

Occupational risk prevention is a factor that every company must consider in its policies, regardless of the activity in which it is engaged. Make sure that your employees work in an environment where they can safely and appropriately carry out their actions should be a company priority. Maintaining safe working conditions is of great importance because it protects your employees’ physical integrity and psychological and emotional.

As an entrepreneur, you can delegate some aspects of workplace safety, but you should monitor the process to ensure that everyone seriously treats the matter.

To avoid and take care of your employees from occupational hazards, you must carry out safety assessments in the workplace and control all possible threats related to your SME production process.

Steps to ensure safety at work

Carry out risk assessments. The first thing to improve workplace safety is to identify potential risks and problems. After that, you must implement sensible measures to control the risks and prevent any harm.

Create a checklist to analyze potential hazards. Make lists to ensure that all relevant issues get formulated and discussed and encourage a creative approach to risk assessment. The strategy needs to be continuously reviewed and updated.

Create a workplace health and safety plan. The company must make an initial evaluation and plan for the medium and long term. The assessment should establish common risks for all jobs (general review) and those specific to each task (assessment by job position). If you have different work centers, you must evaluate and plan for each of them.

A workplace safety plan should contain the following elements:

Objective: what is the procedure.

Scope: must include activities, processes, and jobs that will be affected.

Periodicity: the frequency with which the procedure  (monthly, every six months, when hiring new workers, etc.).

Responsibility: the positions that will involve in carrying out the preventive action.

Methodology to follow the act: make reference to the procedures already available (provided by the prevention service or other sources).

Resources: You must quantify economic resources (cost of third-party prevention services, equipment acquisition, hours invested in staff training), materials (resources such as computers, meeting rooms or training to be used), and human (hours dedication of those responsible for the coordination and those accountable for the management, the commitment of managers to verify security conditions, etc.).

Business Trip – If you are lucky enough to have the opportunity to visit the vibrant and culture-packed city of London on a business trip, you’ll want to know how to make the best of the experience. Happily, you can get some of the best tips from experienced travellers in our guide below. Read on to find out more.

Only take carry-on bags

First of all, if you want to enhance your next business trip to London, then it’s a good idea to ditch the big suitcase and only take a carry-on bag. This is because you can save a great deal of time and hassle by not having to check in your luggage before you board the plane and because you won’t need to wait for your bag to come around on the carousel once you have arrived at your destination either.

However, before you make the switch from a large hold-style suitcase to one that can be taken with you into the cabin, you will need to check the dimensions that the airlines you are using allow in the cabin. Then you will want to get a bag that matches these exactly, if not a little smaller.

Once you have your bag sorted you will need to consider what you will pack in it carefully. When travelling with a smaller bag you need to ensure every item counts. This means that a business travel wardrobe is the best option as any piece can be worn with any other. You’ll also need to make sure you pack a waterproof jacket and closed shoes as London, England is notoriously wet and rainy for most of the year.

Keep up with your healthy habits

It’s easy to let your daily healthy habits slide when you are travelling. After all, you may not feel comfortable going for a run in an unfamiliar country, and it’s a known fact that most people eat out at restaurants a great deal more on business trips, especially when their company is footing the bill.

The good news is however, it is possible to stay as healthy as possible even while you travel. First of all, it’s a smart idea to find a hotel with a gym or pool so you can get some exercise during your stay. It’s also a good idea to invest in a smartwatch which can track everything from your steps to your quality of sleep, providing you with crucial data on the areas in which you may be lacking.

When it comes to eating, you may not always be in control of the meals or menus that are before you and English food can be heavy. However, if possible a home-cooked meal is usually healthier, so if you have kitchen facilities in your accommodation use them. If you are reliant on restaurant food be sure to limit your alcohol and saturated fat intake, and choose one course that is mostly vegetables such as a salad. Although there are some amazing small and independent restaurants and food stalls in London like the ones you will find at Spitalfields market, so do try and sample these if you get the chance.

Explore London before you head home

Another way to enhance your next business trip to London is to ensure you don’t get stuck in the office for the entire duration. Indeed, taking some time to explore the historic and vibrant city in which you find yourself is crucial for your enjoyment and well-being. Some of the top tourist attractions in central London include Buckingham Palace, home of King Charles III, The National Gallery home to among others Van Gogh’s Sunflowers, and the London Eye which boasts panoramic views across the city skyline.

Unfortunately, a lot of business travellers find themselves with only a limited amount of time to explore the cities they have been sent to. Add to that the issue that they will need to check out of their accommodation and deal with their luggage and you can see why exploring may be difficult.

Fortunately, there are some solutions to use here including making use of things like this St Pancras luggage storage service. Such a service will allow you to store your luggage for an entire day no matter what size it is for only £5. This then leaves you free to explore the city at your leisure and in comfort. Additionally, when you are ready to head to the airport, all you’ll need to do is go back to the train station and pick up your luggage and you will be ready to catch your train and begin your journey home, all without the hassle of having to head back to your hotel.

The system of gambling and lottery is not new to India, and Satta Matka is one of the oldest lottery forms that became popular in the 1950s. Now, with the advent of digital media and state restrictions on physical gambling, people have turned to online platforms to try out their luck and make some extra money. The Public Gamblings Act of 1857 that bans gambling is silent on online betting, making it a profitable gray area.

History of Satta Matka

After Independence, when the country was in turmoil, everyone was looking to make some extra money off their luck. Therefore, people started betting on the opening and closing rate of the imported cotton from the USA. The cotton rates were updated through the Bombay Stock Exchange, and accordingly, bets were placed.

However, when the NYSE stopped updating the shipping price, this form of gambling came to an end, and people started looking for viable alternatives. This was when the Satta Matka was born. “Satta” means a bet, and “Matka” means pot. Now, people would pick their desired number combinations and place bets on the order of appearance.

A random person would be called and asked to draw numbers from the “Matka” or the pot. Then depending upon the number of matches, the winner would be declared to take the bet money. This lottery game became so popular among the masses that between the 1970s and 1990s, a huge volume of lottery transactions took place, and the government ordered a crackdown.

This was when Ratan Khatri, a well-known “Matka King,” had started running an organized gambling network and “Satta Bazars.” If you wanted to play the lottery, you had to go to Satta bazaars and place your bets with the bookies. After the 90s, this system disappeared completely, and the Satta lottery disappeared from the market.

However, when the internet became popular and online payment platforms flourished, several stake-based games began to appear, and one of them was online Satta Matka. The ease and efficiency of placing bets online made it easier for more and more people to participate. Therefore, the prize pool also grew by a lot, and now they run over a hundred million, which have increased the winning odds.

The competition in the online betting world is constantly growing, with more and more websites with multiple pools and games coming up. Satta Matka online here gives the customers a lot of options and incentives and helps them understand the game. Many sites offer some sort of virtual coins free of cost, which can then play mock games and understand all the nuances risk-free. This facility wasn’t available in the olden days when the money placed was gone if you didn’t know the game.

How to play Satta Matka?

In Satta Matka, you get to pick up a combination of three digits from 0-9. Now, the three digits are summed together, and the last digit of the sum is taken as the fourth digit. If you choose 1,2,3, then the sum would be six, and your first final combination would look somewhat like 1,2,4,*6. Now, you will be given a chance to pick out another combination of digits. Say you pick 4,5,6; the sum of these three would be 15. Therefore, your other final combination would be 4,5,6*5. The overall digit combination would be 1,2,3,*6 X 4,5,6 * 5.

Now, you can bet on the selection and outcome. In this instance, your first selection would be six, and the second selection would be 5. The range of bets depends upon the site rules and pool money. If you place your bet on the first selection, you may end up with nine times your money.

Matka also has some crazy payouts depending upon the rarity of the combination. For example, “Jodi” is the combination of the two selections, and if you get a draw for Jodi, you may end up with 999 times your money.

How do the payouts work?

The payouts in this format are simple, you just have to put in your bank details, and the winning amount will be credited immediately. Now, several wallets have tied up with these online sites to get your payouts in these wallets if you are not comfortable giving out your bank details.

The site commission is just 5% in case you end up winning the lot. The rest of the ticket amount goes into the pool, and it is a very transparent process.

Conclusion

Lottery games are really fun and entertaining and a good way to earn some side money with minimum work. You must be aware of the financial risks involved in the lottery games and play accordingly. Always calculate the risk-reward ratio and the total loss you can bear. Knowing when to leave the game is equally important as winning. Be very calculative and analytical to minimize your risk of playing the game for a long time.