Calculating the Costs for Setting up your Business

Here’s a list of costs that you must account for when deciding how much capital you need for your startup to function.  All businesses may have all costs but most will have most of these costs.

Market Research Costs

Trademark Search and Registration Costs

Business Registration Costs

Office set up costs – Real Estate Purchase/Lease/Registration, Furniture & Fittings, Equipment Costs

Ongoing maintenance costs

Utility costs

Employee /Temporary/Contingent staffing Costs – Salary, Recruitment, Employment Taxes, Bonuses

 IT staff, manufacturing, accounting, legal, human resources,  office maintenance, delivery, customer service, marketing, sales, personal help

Outsourced work costs such as H.R, Accountant, Lawyer etc

Product creation costs – Manufacturing costs, IP purchase costs,  infrastructure costs, market research costs,  Travel costs

IP protection costs, Patent filing costs

Customer Acquisition  Costs

Marketing Costs

Graphics, Copywriting, Content Generation(Text, audio, video, animation etc)

Web page design, App Design

Newspaper/Television/Radio/Billboard Advertising

Event sponsorships

Affiliate marketing ,  Influencer Marketing

Email Marketing , Bulk SMS

Adwords/Banner Displays Online/Twitter Ads/Facebook Ads

Referral Costs

Advance Taxes

Kickbacks to government officials

Warehousing Costs

Delivery Costs

Packaging Costs

Chargebacks & Refunds

Costs due to Fraud

Costs due to Damaged Goods

Taxes and Penalties

 

This is by no means an exhaustive list. Nevertheless, I welcome all readers to put in your two cents and help us make it an exhaustive list for the benefit of all fellow entrepreneurs who are starting out in business.

 

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Words of wisdom from my mentor Jay Abraham

These words of wisdom have been passed on to Jay by his mentor many years ago.

Your goal, responsibility, obligation and primary purpose in business is to carefully examine, fully understand, appreciate thoroughly, empathize respectfully, and acknowledge meaningfully how the other side sees the situation. This applies not only to prospects and buyers — It applies to your team members, vendors, competitors, and the marketplace, community world in general.

 I hope you can adequately analyze, aptly internalize and usefully adopt it in your own business for greater success, more loyalty and greater profits.

Want to learn more about Jay?  He is at Abraham.com

Towards greater profits everyday,

Deep J.

Pricing Mistakes of The Rookies

Pricing Your Widget _ Greater Profits

When you sell a product online, the price of the product is among the most important factors that determines how much money you are able to make!  But rookie businesses often make the mistake of  pricing their products wrong.  This article discusses some of the factors you need to consider while pricing your product.
Continue reading Pricing Mistakes of The Rookies

Why Customers Leave – And How to Prevent It

 

Here is an awesome post by Lincoln Murphy from Sixteen Ventures regarding the difference between “happy” customers and “successful” customers.

Read it till the end.  Don’t miss out the comments.

http://customerthink.com/why-happy-customers-leave/

Also check out this post on the subject on this blog…

How to Not Drive Away Your Customers

Your’s in Greater Profits Every Day,

DJ

Pricing Pages That Sell – Features of a Successful Pricing page

In this third installment in the series about required Ecommerce website features, we are talking about the pricing page. Pricing pages are key to conversion. Designing the right pricing page increases checkout and ultimately Profits.

Pricing Page Optimization - Greater Profits Media

Continue reading Pricing Pages That Sell – Features of a Successful Pricing page

Explode Your Business – February Meetup 2/15/2015

Hi Exploders,

Our startup meetup for February is slated for February 15 2015. Please note the venue below.

What: Explode Your Business – From Startup to 10 crores

Where : Cafe Coffee Day, Golibar Road, Santacruz East, Mumbai

When : 4.00 pm. Sunday February 15 2015

For more details, please sign up at http://meetup.com/ExplodeYourBusiness

Thank you,
Deep Janardhanan

Better User Experience Through Reliable Site Architecture

Site  Architecture refers to how  you have positioned your pages for Search Engines or people to find.  This also talks about how easy it is for a user to find the page by clicking links on the page. The better your architecture, the easier it is for people to get to your money pages faster.  So what kind of architecture works best for your site?

Continue reading Better User Experience Through Reliable Site Architecture

How to have a Successful Ecommerce Website – Home Page

Amazon.In Header - GreaterProfits.com
The AboveTheFold view from Amazon.In

At the root of any successful eCommerce business is a powerful, attractive and performing eCommerce Web site. With a lot of new interest in eCommerce, many start-ups are entering the fray – offering everything from services to products to abstract purchases over the net.

I’ve been fielding a lot of the questions recently about requirements for eCommerce websites. This article deals with the Home Page and some of the features on it. Continue reading How to have a Successful Ecommerce Website – Home Page

The 3 Basic Tenets of Marketing

No matter what business you are in , no matter what part of the world you are in or what your target market is, there are 3 undeniable rules of marketing. They deal with how your business achieves growth organically.

So, here are the few simple Marketing Rules.

Rule 1: There are only 3 ways to grow your business.
Continue reading The 3 Basic Tenets of Marketing

Building a Colossal Email List for Beginner Marketers

Getting started with Email List Building

Email Marketing still remains one of the most cost-effective ways of growing your business. This is because in spite of all other means of communication and various channels now available, most of us are still using emails – and they are the cheapest to send out and consume. And as long as our emails escape the spam filter, these are being read.

But before you have a successful email marketing campaign, you need to build an email list. A targeted, laser focused list is truly worth its weight in gold. So how do we go about building an email list?  Listed below are a few of the options available to a start up marketer…
Continue reading Building a Colossal Email List for Beginner Marketers

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