CEO's WORDS

How to increase your Business Revenue

How to increase your Business Revenue

JULY 16, 2015 Samudra Dutta Gupta
Worldwide Internet population stands at a hopping 3,161,135,635. Out of it, Hong Kong Internet enabled population stands at 5,751,357. As the number of user are increasing on daily basis technology advances giving people a more efficient way to do things, and these processes get results. For example, education has been greatly advanced by the technological advances of computers. Students are able to learn on a global scale without ever leaving their classrooms. Agricultural processes that once required dozens upon dozens of human workers can now be automated, thanks to advances in technology, which means cost-efficiency for farmers. Cost efficiency is an added advantage. As technology improves on existing processes and showcases new ways to accomplish tasks, machines are able to produce the same -- if not more -- output than humans in certain industries. This results in cost savings for business owners, allowing them to invest in growth in other areas of the business, which contributes on a positive level to the economy as a whole. Say for instance, if we can provide a solution, to replicate 2 clerk’s human actions. Let us enumerate the cost and benefit of such instances as below:

Considering the Actual Cost of Man Power:

If we consider 24Hrs x 7days which is equivalent to 168 Hrs per week of Man power required.

If we consider it for two (2) positions
168Hrs Per week x 2 No. of Position = 336 Hrs per week

We know that each person can work for 48 Hrs as per ILO regulations.
Hence number of person required to man 336 Hrs every week.
336 ÷ 48 = 7 persons required.

Considering festival leaves, compulsory leaves, sick leave and vacation 7+1=8 person required.

Let’s assume that the minimum salary per person, per month is HK$ 8000
Hence, for 8 person, TOTAL Monthly Salary payout for you is HK$ 8000 x 8= HK$ 64,000
Hence, for 8 person, TOTAL Annual Salary payout for you is HK$ 64000 x 8=HK$ 768,000

Alternatively, if we consider HK$ 32.50 per Hrs.

Then the cost will be 365 Days x 24 Hrs. x 2 Persons x HK$ 32.50 per hour=HK$ 569,

So, if you consider on monthly remuneration basis or hourly basis the cost to will be HK$ 768,000 or HK$ 569,400 respectively.

While on the other hand, we are charging for your 24Hrs work on daily basis?

Hexcode Charging for its services:

25000 ÷ (365x24) = HK$ 2.85 per day.

Suppose you tell us that you will hire 2 person for just 2Hrs in a day.

So as per the calculation, you will be incurring a cost of 365Days x 2 Hrs. X 2 Persons X HK$ 32.50 per Hrs =HK$ 47,450.

You have the option to utilize us for 24Hrs which will be costing you only HK$ 2.85. For Calculation: If you opt for 2Hrs in a week then you are capable of handling our work for 2Hrs @ HK$ 5000. Which will be costing you HK$ 15,000 for 3 person in a month. i.e. HK$ 180,000 in a year.

But if you pay us HK$ 25,000 you will have capabilities of 24Hrs working. So which one will you consider as good for you HK$ 60,000 with capabilities of 2Hrs or HK$ 25,000 with capabilities of 24 Hrs. Your employees will require having festival leaves, Sick leave and compulsory leave which may hamper their productivity. For Eg: If you want some operation need to be done on a fixed date say for example March 23rd 2016. It may happen that your employee may be sick or forgets the day particularly. With our system you will be getting reminders about its progress on daily basis which can be a report on the basis of the achievements or lags. We can grantee that the operation will happen without any failure even on 1st November 2015. We will be in contact with you in talk, chat or visit you as per your requirement. Just to ensure that our processes are in line to achieve your goals and objectives.

From our end you would be getting services of well qualified individuals, who are business consultants or CFO’s on the other hand if you prefer to take these services individual it may cost you HK$ 25,000 to HK$ 40,000. If you consider these services from a team of professional then the cost will also be increased accordingly. While at HexCode we are providing these services for a fixed of HK$ 25,000 which is equivalent to HK$ 69 Per Day for a year.

Once you are technologically enabled, you will start using a computer costing you about HK$ 25,000 and a technology enabling process at a cost of another, HK$ 25,000 (say), you can ensure that you can potentially be reached to 5,751,357, every day in a year for 365 days, 24 hours a day, 7 days every week. Thus your shop is never closed, even when you are sleeping or away from your shop. Hence, according to simple mathematics, if you can sell for a value of HK$ 100,000 every month, by keeping the shop open for 12 hours a day, for 6 days, you should be ideally able to reach a figure of {(100,000/6)/12}*{24*7}= HK$ 2,33,333 which is a hike of 133.33% of sales prospect. If you merely multiply this with your one year figure, just think for yourself, how much money, you are leaving on the table, for your inaction of not enabling your business with IT enabled processes.

Well, I know what you are thinking….”Who will buy Gold jewelry after 9 PM in the night or before 11 AM during the day?” Now you tell me, whether your wishes of gifting something to your beloved ones, follows the manmade clock. fully colored front page advertisement in a leading daily at a huge cost, or similarly putting their advertisements up on big and giant size hoardings. Just imagine, how many potential buyers are seeing this vis-z-vis non-potential buyers. I think, we all will agree, that our 95% potential buyers are internet enabled, either by mobile or computers. And there are variety of ways to reach them as below:

Once you are Technologically enabled, you will start using a computer costing you about HKD 25,000 and a technology enabling process at a cost of another, HKD 25,000 (say), you can ensure that you can potentially be reached to 316,357,057, every day in a year for 365 days, 24 hours a day, 7 days every week. Thus your shop is never closed, even when you are sleeping or away from your shop. Hence, according to simple mathematics, if you can sell for a value of 100,000 HKD, every month, by keeping the shop open for 12 hours a day, for 6 days, you should be ideally able to reach a figure of{(100,000/6)/12}*{24*7}=2,33,333 HKD, which is a hike of 133.33% of sales prospect. If you merely multiply this with your one year figure, just think for yourself, how much money, you are leaving on the table, for your inaction of not enabling your business with IT enabled processes.

Well, I know what you are thinking….”Who will buy Gold jewelry after 9 PM in the night or before 11 AM during the day?” Now you tell me, whether your wishes of gifting something to your beloved ones, follows the manmade clock. You may feel like gifting at 11 PM or even at 5 AM. Today’s problem is that even if you wish, you cannot do it, because the shops are not open during that time. But in case….. Just think, and I believe you will get the answer.

Now comes the story of reaching the right people in right time. One age old process is media advertisements, where big houses can pay for a fully colored front page advertisement in a leading daily at a huge cost, or similarly putting their advertisements up on big and giant size hoardings. Just imagine, how many potential buyers are seeing this vis-z-vis non-potential buyers. I think, we all will agree, that our 95% potential buyers are internet enabled, either by mobile or computers. And there are variety of ways to reach them as below:
1. Google SEO: This is known as Search Engine Optimization. This means, when someone searches, for your shop or for something similar to the items that you sell, your page should ideally come up as one of the choice for him to click. Your past customers can search for your shop on google and will get your own web page giving all of your contact details and your current promotions and your current announcements if any. People searching for things related to what you sell, they too should be able to see your shop site, and preferably see the location of your shop so that they can reach your shop easily without any hindrance.
2. Google Adwords: Google Adwords is the system Google has developed to assist you in marketing your products or services in the Google Search Engine, and its affiliate sites, via the use of a placed text ad that appears when people search You may feel like gifting at 11 PM or even at 5 AM. Today’s problem is that even if you wish, you cannot do it, because the shops are not open during that time. But in case….. Just think, and I believe you will get the answer. Now comes the story of reaching the right people in right time. One age old process is media advertisements, where big houses can pay for a for phrases related to your offering, this appears as a “sponsored link”.

3. Google Adsense: Google Adsense is a contextual advertisement program which is run by google itself. In google Adsense, google allow the publisher to show ads on blog or website. Google will pay to the publisher when someone click on the ads. You too can show up your advt. on renowned publishers, like The Standard, using google adsense, at a lower cost, on Internet.
4. Google Map / Google business
5. Google Analytics: How many of your website visitors are brand new versus returning? How long are people spending on your site? Does it have a high bounce rate? All of these important analytical questions can be answered by Google Analytics, Google's free website analytics product. Google Analytics can give you smarter insight into your website traffic and help you understand how people are finding and navigating your site. That said, website analytics is definitely not a replacement for marketing analytics (here's the difference). You'll still need integrated marketing analytics software like HubSpot's to help you measure your entire marketing funnel and track your visitors all the way through to becoming leads and customers -- the metrics marketers are ultimately measured by.

6. Google My Business: All that we have to do is claim your Google My Business listing (formerly known as Google Places), and your business can get featured in the search results (as well as in Google Maps) for local searches like the one pictured below. Check it out -- all the businesses within the red call-out in the screenshot below are local Google My Business results for the search "mexican restaurant, boston." Best of all, unlike Google AdWords (which we'll touch on later), none of those businesses paid for their positions in these local results.
7. Google+ Business Pages: Its now highly important to maintain an active Google+ Business Page these days if you're not a local business, like if you want to sell to "pan India", but has a shop ONLY at Jamshedpur (say). That said, given Google's massive empire, we think it behooves all businesses to play it safe and create a Google+ Page, even if you only update it every so often. But if you're a local business, setting up and maintaining a Google+ Page goes hand in hand with your Google My Business listing (see above), making Google+ even more critical for you. And considering your Google My Business listing will include a link to your business' Google+ Page, it's important to take some extra time to make your page the best it can be.
8. Google Trends: Google Trends can be a great tool for helping you make smarter keyword choices. It enables you to evaluate the popularity of certain terms, compare them against other keyword variations, analyze how their popularity varies over time and in different regions/languages, and shows related keywords, which can be helpful in getting new keyword suggestions.
9. Google Alerts: Google Alerts enables us to monitor the web for mentions of specific keywords or phrases. Once set up, you'll receive either email alerts or results via RSS whenever these phrases have been mentioned online. For instance, you can sign up to get notified whenever someone mentions your company, products, executives, or your competition. This PR tool is a great way to stay on top of your business' online reputation and react to online mentions of your brand in a timely manner.
10. Google News: Newsjacking, or capitalizing on the popularity of a news story to amplify your sales and marketing success, is a great way to piggyback off the success of a news story that is already getting traction. If you're interested in taking advantage of Newsjacking in your marketing content strategy, use Google News to search for and identify news relevant to your industry with good newsjacking potential. To learn more about Newsjacking and how to integrate it into your content strategy, check out our "Complete Guide to Newsjacking."
11. Google FeedBurner: FeedBurner email is a service that allows us to deliver your related news or promotional content feed to subscribers via email.
12. YouTube Video Marketing / Facebook Marketing / Moderated Forum (for your customers to interact) / Bing SEO
13. Creating database of your regular customers, and sending them promotional mails/calls. You can also use this database to understand the pattern of purchase like someone, regularly buys during their wedding anniversary, or birthdays, or puja or Diwali or similarly other occasions. You will also be able to understand, what sells most from your shop and can concentrate on focusing on those “most selling” items and figuring out how to increase that particular segment sales.
14. Online sales or Ecommerce:
15. Partnering with independent online vendors: Like Amazon.com, Flipkart.com, Snapdeal.com etc.
16. Pay by Airtel Money / Pay by IDEA money / Pay by Vodafone Money

After everything said and done, I just wanted you to THINK about this:

1. Business Consulting 1: Writing good and,marketable content is highly necessary for people to like your website and spend more time on your website.
2. Business Consulting 2: (In the case of Gold jewelers)Weighing machine of gold maintains Government of India promulgated regulation of F2 accuracy class (international OIML R111 or OIML = Organisation Internationale de Métrologie Légale (International Organization of Legal Metrology) or Working Standard Level) on the premises of the jewelers.
3. If you have 100,000 HKD per month revenue, and you are taking 15 days time to think over this solution, you are potentially losing an opportunity to gain by HKD 133,333/2 = Rs. 68,517/- . In case you are having a revenue of 500,000 per month, your 15 days indecision will cost you HKD 3,42,585. And you can potentially STOP this drain by paying us HKD 25,000 as soon as possible.

To calculate your hidden revenue. Click here

We will help you to run your business more prominiently and more effectively

Samudra Dutta Gupta

About Author

Almost half a decade back, HexCode Technologies K K was initiated with the idealism of creating a stir in the world of hardware solutions, system architecture and IT support. However, the journey towards excellence was not a fairy tale. The harsh realities challenged the expertise of HexCode Technologies. Many a times we stumbled, but rising up and continuing was what kept us going.

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