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Working Backwards Amazon Style

September 26, 2014 2 Comments

wealthymatters “There is an approach called “working backwards” that is widely used at Amazon. We try to work backwards from the customer, rather than starting with an idea for a product and trying to bolt customers onto it. While working backwards can be applied to any specific product decision, using this approach is especially important when developing new products or features.

For new initiatives a product manager typically starts by writing an internal press release announcing the finished product. The target audience for the press release is the new/updated product’s customers, which can be retail customers or internal users of a tool or technology. Internal press releases are centered around the customer problem, how current solutions (internal or external) fail, and how the new product will blow away existing solutions.

If the benefits listed don’t sound very interesting or exciting to customers, then perhaps they’re not (and shouldn’t be built). Instead, the product manager should keep iterating on the press release until they’ve come up with benefits that actually sound like benefits. Iterating on a press release is a lot less expensive than iterating on the product itself (and quicker!). Read more of this post

Filed under Entrepreneurship, Theory, Tool Kit Tagged with new product development, postaday, press release template, problem solving, working backwards

IFA-International Franchise Association

September 25, 2014 Leave a comment

wealthymatters If ever you wish to research franchising opportunities, I can’t recommend any place better than the website of the International Franchise Association.

Filed under Entrepreneurship, Tool Kit Tagged with franchising, franchising oportunity, international franching, postaday

The Cost Of Undergraduate Education

September 25, 2014 Leave a comment

wealthymatters In the HSBC survey The Value of Education: Costs Vs Quality India as emerges as one of the least expensive destination for undergraduate education among 15 nations and Australia, Singapore and USA top the cost chart.Over 4,500 parents in 15 countries and territories were surveyed to examine parents’ attitudes and behavior towards children’s education around the world.

The average annual cost including university fees and living expenditure of an undergraduate international student in India is $ 5,642, of which $ 581 is university fees. At $ 42,093 a year, Australia – a hugely popular destination for Asian students – is the most expensive option globally followed by Singapore at $ 39,229 and USA at $ 36,564. Overseas students need to spend on an average $ 35,045 a year for undergraduate studies and living in the UK, according to the survey.

Education costs are lower in emerging markets such as India because the state-run universities are heavily funded by the government and also the cost of living for overseas students is lower Read more of this post

Filed under Theory, Tool Kit Tagged with cost of undergaaruate education, postaday

Trust Issues

September 25, 2014 1 Comment

Here’s a story from the past:Back in 1936, Shapoorji Pallonji Mistry (grandfather of Cyrus Mistry) acquired around 12.5% of Tata Sons after the death of FE Dinshaw, from his estate. Dinshaw had been a frequent financier for the Tatas and had converted debt to equity to get his shares in Tata Sons. He wanted his shares to go into a trust after his death, but somehow Shapoorji Mistry prevailed upon his managers.And then in a master-stroke Shapoorji acquired another 6% from JRD Tata’s brother Darab, who sold, it is said, to spite his elder sibling, who was hogging the limelight at the Tatas. But Shapoorji’s adventure had to stop there, as the sons of JN Tata Ratanji and Dorabji had already arranged their own holdings, adding up to 80%, into charitable trusts before their deaths. ( JRD and Darab were descendents of Dadabhoy Tata, a partner and cousin of JN Tata’s father Nusserwanji Tata.)

The Tata Trusts are probably the most well known in India.Using trusts, either charitable ones like these or private ones with private beneficiaries, was popular in India till the ’80s to bequeath assets to progeny. Between the 80s and the ’90s, private trusts went through a period of highest taxation and lost their popularity. Today, they seem to be the flavour of the season again. Along with popularity have come services that set up trusts and help manage them. Apart from the tax pressure on trusts being eased in early 2000, some high-profile inheritance drama helped. Read more of this post

Filed under Paper Assets, Tool Kit Tagged with Amicoro Trustee India Pvt Ltd, charitable trusts, Cyrus Mistry, Dadabhoy Tata, Darab Tata, Dorabji Tata, estate duty, estate planning, Heritage Trust, IL&FS Trust Company Ltd, inheritance tax, JN Tata, JRD Tata, Kotak Mahindra Trusteeship Services, Merrill Lynch Trust Services, Nerine Trustee Company Pvt Ltd, Nusserwanji Tata, postaday, private trusts, Ratan Tata, Ratanji Tata, Sailesh Haribhakti, Shapoorji Pallonji Mistry, SNG & Partners, Tata Sons, Universal Trustees, Warmond Trustees and Executors

How To Use An Auto Title Loan To Improve Your Credit

September 25, 2014 Leave a comment

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You might be in a situation where you need cash and you need it quick. However it is difficult to get the loan that you need because you have bad credit. This is where an auto title loan can help in a couple of different ways. Read on to find out just how an auto title loan can help you and get you the money that you need quickly.

Get The Money You Need Quick

If you own your car and hold the title in your hands you could be holding the key to the money that you need. This is especially good when you have bad credit and an emergency happens where you need money. This could be for things such as car repairs, medical bills, a home improvement that cannot wait or a grubstake to get started in business. Most of the time you will receive your money the same day and a credit check will not be necessary.

Auto Title Loans To Improve Your Credit Read more of this post