Business Development & Automation:
Business development (BD) is essentially any activity or idea that aims to make a business better over time. This means making use of customers, implementing strategic partnerships, using your markets and building your company’s reputation.
Business process automation refers to the use of technology to execute recurring tasks or processes in an organization where manual effort can be replaced. It is done to minimize costs, increase efficiency, and streamline processes. Business automation is the alignment of business process management (BPM) and business rules management (BRM) with modern application development to meet changing market demands.
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Frequently Asked Questions
“Startups are young companies founded to develop a unique product or service, bring it to market and make it irresistible and irreplaceable for customers.
Startups are rooted in innovation, addressing the deficiencies of existing products or creating entirely new categories of goods and services, thereby disrupting entrenched ways of thinking and doing business for entire industries. That’s why many startups are known within their respective industries as “disruptors.”
You may be most familiar with startups in Big Tech—think Facebook, Amazon, Apple, Netflix, Google, collectively known as FAANG stocks—but even companies like WeWork, Peloton and Beyond Meat are considered startups.”- Forbes
A startup demands much more than just a great idea. It demands a lot of time, discipline, dedication, and most importantly, funding. A 2016 British Business Bank Survey highlights the fact that more than 60% of startups require external funding rounds in order to establish their ground firmly. Hence, without further ado, let’s discuss the various startup funding stages that every entrepreneur should know.
There are 7 major startup funding stages that every entrepreneur or startup developer needs to be aware of.
Pre-Seed Funding: The bootstrapping stage
Seed Funding: Product development stage
Series A Funding: First round of VC
Series B Funding: Second round of VC
Series C Funding: Third round of VC
Series D Funding: Special round of funding
IPO: Stock market launch
Following are the main advantages that come along with startups to build a better economy:
One of the main advantages of startups is that it generates new jobs. Global data shows that startups are creating more jobs in any country than large companies or enterprises in the same sector. Thus it lowers the unemployment problems in developing nations.
As entrepreneurs are attractive investors by supporting and financing their own resources, the people of the nation would get the benefit when the startups grow. As money is allocated within the society, wealth is created within the nation.
Upgrade Standard Of Living
Startups can contrivance innovations and technologies to improve the living standards of people. There are many startups that are working for rural areas to cultivate the overall community.
GDP (Gross Domestic Products) performs a vital role in improving the economic development of a country. By supporting and encouraging more startups, it is possible to generate more revenue domestically and consumer’s capital will also flow around the country.
Research and Development
Startups can highly subsidize the research and development (R&D) of the developing countries as they often deal with high technology and knowledge-based service. The R&D team in a startup supports as an innovation searcher and retains the company growth. It supports well in an applicative orientation or research work in a university or other educational institution. Consequently, startups can inspire students or researchers to implement their ideas by working at a startup.
Develop Talent Pool
Resilient leadership can bring along universities and businesses to produce the sort of talent pools that initiate startups. Likewise, the pro-innovation strategy on the part of local political leaders can clear away some of the regulatory impediments that hamper startup growth.