All posts by Awfis Editorial

Inspiring brand stories, brand strategy

Inspiring Brand Stories | The Journey of an Era: Maggi

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#InspiringBrandStories is an initiative by Awfis to explore successful brands and their journey through a series of interactive infographic.

MAGGI – a name so common to Indians, whether from metro cities or remote towns that it has almost become synonymous to instant food option for people of any age. It is noteworthy how Maggi has built this whole empire with unfailing brand loyalty and engagement with the consumers at a micro level. A subject of brand studies at top B-schools, Maggi set the tone right during its 150 year old journey and is reaping the benefits today after a great comeback from a massive crisis.

It was invented during the Industrial Revolution in Europe as a cheap legume meal option for workers, who needed something that can be prepared and consumed quickly. It still does serve the same purpose in more than one ways. The product became widely popular in Switzerland and gradually entered other countries having similar needs for an instant meal.

brand story, maggi noodles

Making its way up the popularity ladder, Maggi GmBH – the initial registered company was acquired by the Nestle group in 1947. Soon after, it started making its way to India, only to create another example of extraordinary brand loyalty. It took almost 40 years to complete the journey and Maggi reached India in 1983. What happened after is an exciting story!

In a mere 20 years, Maggi became the market leader in instant noodles category, finding itself in almost every home, every small kirana shop to large supermarkets. Starting with a campaign to target homemakers, Maggi shifted its strategy to avert the allegations of being an unhealthy snack. Soon a new campaign was drawn out to position Maggi as a health product and targeted kids.

Successful marketing campaigns has been Maggi’s plus point and they have always scored high with their simple yet effective campaigns. Until 2009, Maggi had not actively engaged celebrities to endorse the brand. After celebrating 25 successful years of the “Me and Meri Maggi” campaign, the instant noodle maker brought in big names like Amitabh Bachchan, Preity Zinta and Madhuri Dixit to uplift the brand’s existing homely image.

Competition was not sitting idle during all this time. While Maggi enjoyed the market leader position and managed to introduce product variants and extensions to capture an even bigger chunk of the pie, brand like Nissin and ITC ramped up product innovation and marketing. In 2013 Maggi saw a dip in its sales due to strong strategy and competition from other local and global players. Another household name Horlicks launched a new product Foodles to capture the existing market, similarly there are many other local brands which currently compete in the same segment of instant food and noodles.

2015 was a bad year for Maggi and parent company Nestle. After allegations of containing above acceptable levels of Monosodium Glutamate (MSG), raised by a testing lab in Uttar Pradesh, the whole nation witnessed an extraordinary episode of unfolding events. Gradually Maggi was removed from shelves following an order issued by the honourable Supreme Court while FSSAI testings were done with samples from various regions and results were awaited. A heartbreak for millions of ardent Maggi fans, the product faced a complete shut out from the market across states in India. It was only after five long dreary months that the SC cleared Maggi for consumption again and the brand resurfaced with all its might.

Leveraging the nostalgia associated with Maggi and its users – pools of people who have had Maggi since their school and college hostel days, in between classes and job interview, a strategic marketing campaign was launched in November 2015. The company recuperated from its tremendous losses with the love of people. After abating all allegations, Maggi is back in the market with approximately 57% share currently and continues to build its way into homes, hostels, canteens, tea shops and cafes. Innovation with recipe worked brilliantly for Maggi as part of an old campaign, and it is working again to restore the faith in the brand.

It is an extraordinary study to learn how Maggi created its own universe within a sub-segment in instant food category. A largely sold and cherished product, Maggi continues to inspire us to do better and do more. We at Awfis find the story of Maggi worth telling, and would love to hear from you about your experience with Maggi. In your startup journey, how does the story of Maggi inspire you?

(This is the first of a series of interesting and inspiring brand stories curated and brought to you by Awfis Editorial.)

How to use workspace infrastructure for your business, smartly

How To Use Workspace Infrastructure For Your Business, Smartly

Business How To’s, , , ,

Every morning when you open the newspaper, you probably spot an advertisement for a new commercial complex. Ranging from the most prime locations to somewhere quiet and further away; with fully-functioning amenities or just bare walls; and across all budgets. Such a scenario must be heaven for new businesses and entrepreneurs looking for the right workplace.

One would think so, but it isn’t. Simply because of the numerous factors that must be considered before taking the decision of whether to buy or rent an office space or not.

Face it; space costs money. When you’re a start-up, funds need to be invested in growing the business and not sunk in leasing or buying the workplace; not right away at least.

So, if you don’t have the budget for a suitable office space at the moment, you will have to compromise on the kind of place you choose. In the long run, this will affect how you work and how your business is perceived.

On the other hand, let’s say you do decide to bite the bullet and invest in the right kind of workspace. If it’s rented, you can never be sure when your landlord might decide not to renew. And if you purchase it, the loan will be a constant sword hanging over your head. No, not a comforting thought.

And then there’s the question of the infrastructure. An office cannot be just walls and people. Today, you need high-end technology and speedy communication channels, all of which cost more money.

Have you given any thought to shared offices instead? This novel global concept is quickly gaining popularity in India too, and there are already several organisations that make workspaces available as per your convenience.

Do you require a meeting room where you can invite your client or have a video call with? Perhaps you need a desk for a few of your employees every week? If you want, you can also have an office for yourself, available for as long or as briefly as you want, in a location that suits your needs the most.

The clincher is the ready smart infrastructure; everything in place, fully-taken care of and with no maintenance or overhead expenses. Pay as you use, and nothing more. Smart, right?

Shared office spaces offer enterprises the right professional environment, with the flexibility of choosing individual cabins, meeting rooms and pods, as well as fixed and flexible seating options.Essential support functions like Wi-Fi, video-conferencing, high-speed internet, and a well-stocked pantry usually available at such workplaces make sure that you have all that is needed to conduct your business in the most professional and productive manner without worrying about infrastructure.

6 Vital Ingredients For Your Startup To Stay Afloat

6 Vital Ingredients For Your Startup To Stay Afloat

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The Indian business landscape is bursting at its seams with its startup culture and young enterprises, each one more unique than the other. Fortunately for the young entrepreneur, the market is ripe and ready for new ideas and new ways of doing business. As is the customer, who laps up every new innovation with eagerness. The government too has pledged its support, and schemes are underway to give startups a boost. It is a wonderful time to be young and innovative in India.

Here are a few points that you must keep in mind while embarking upon your venture:

#1 Is There A Need For Your Idea?

A business idea cannot exist in isolation. It has to fulfill a pressing need for individuals or organizations. Or it has to create a need, in which case, you already have an edge. Is your idea truly revolutionary? Will the idea stand the test of time and survive the pace of disruption in technology and the changes in the customer lifestyle?

#2 Start Small

You might be faced with the temptation of starting with a big bang. Make sure you do not walk the wrong path that many overambitious entrepreneurs before you have walked. Focus on one thing only and do it really well. Allow the idea and business to grow at a pace that you can handle.

#3 Don’t Think Small

Now, this might seem like a contradiction to the earlier point, but it’s not. A startup need not be confined to its current scale of operations. Enjoy all the advantages of a startup, but aspire to get to the top. Keep the larger vision in mind always – this will be your driving force for growth. Observe, study, and learn from those who have found success, and make your learning curve shorter and your journey smarter.

#4 Build The Right Team

Not everyone who is enthusiastic about your idea can actually do justice to it with the zeal and rigor it needs. Find people with the right strengths and bring aboard only those who can add tangible value.

#5 Arrange For Finance

Unless you get a windfall inheritance, chances are you’ll need financial backing. Sometimes, your networking skills can pay off here in the form of attracting a like-minded investor. Consider all funding options, even if they are small. Having a person in your team with a head for numbers goes a long way, making sure you do not rush into a financial commitment without thinking it through.

#6 Do I Need Office Space?

While you’re busy focusing on growing your business, have you given any thought to your actual office space? It’s fine to start out in a garage or your spare bedroom, but eventually, you will need to grow out of those spaces if you want your business to grow.

Shared Spaces

Shared office spaces work perfectly if you want to keep your costs flexible, your business model scalable, and your startup image professional. The environment is conducive enough to work alone or with your core team, brainstorm, or even conduct client meetings – in person or through video conference calls.

Awfis has been offering enterprises the right professional environment, with the flexibility of choosing individual cabins, meeting rooms and pods, as well as fixed and flexible seating options.

Essential support functions at Awfis like Wi-Fi, video-conferencing, high-speed internet, and a well-stocked pantry make sure that you have all that is needed to conduct your business in the most professional and productive manner without worrying about infrastructure.

Awfis offers exciting, customized and affordable plans to suit your needs – with hourly, daily, weekly, monthly or yearly rental options, depending on your requirement. What’s more, as a member of Awfis, you can avail these services across all cities where Awfis has a presence.

Visit www.https://www.awfis.com/inspiration/wp-content/uploads/2016/06/shutterstock_3835072871.jpg.com to know more.

coworking space in Vashi, shared work space in Mumbai

Why You Should Consider Adopting An Open Office Culture?

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The recession in 2008-09 pushed employers to take drastic measures to cut costs as regards office spaces were concerned. As a result, confined cubicles gave way to open office structures. According to a Wall Street Journal report, owing to their smaller footprint and lower build-out costs, open office layouts cost 50% less per employee. What employers were unaware of was the fact that not only would open office structures result in lowering operational costs, but it would also boost productivity. Though large firms are already evolving from open floor plans to flexible office plans, start-ups still have a lot to benefit from an open office culture.

Exhibit A shows the variety of office space set-ups across the world.

Why you should consider adopting an open office space culture

Image Credit: Wall Street Journal

• Work As A Unified Whole
An open office plan, mostly separated by short screens or panels, allows free communication between all team members. These layouts foster easier collaboration as employees grow accustomed to working with each other sooner than when compared to a traditional office layout. Such layouts are also known to facilitate better idea generation and brainstorming sessions as team members often run ideas past the person adjacent to them.

• Making Leaders Approachable
Start-up founders have to be accessible to their team at all times. A Forbes article says that employees really appreciate their leaders listening to what they have to say. Being approachable to their teams can help inspire them to do better and enhance their overall performance. Due to the obvious lack of enclosed spaces in an open office culture, teams can better interact with their bosses. Employees can then ask better questions and gain more perspective on the overall business.

• Helps Team-Building and Inter-Communication Skills
Unlike corporate organization cultures, start-ups are dependent upon their teams to build a culture that nurtures growth and inclusiveness. In an open office culture, team-building is a constant process, as employees interact with each other on a daily basis and not at some monthly or quarterly meeting. Communication too is far more facile due to the flexible office spaces that employees are in.

• Flexible Set-ups for Individual and Team Work
Unlike a traditional office set-up, open offices give employees the choice to pick their seat for the work at hand, a concept commonly known as hot desking in today’s world. They have the flexibility to work in an environment that is conducive to the task. Instead of waiting for meeting rooms to be free, employees can start an impromptu meeting anywhere. Also, if they want a quiet corner to work by themselves, that too is possible.

Open office spaces are ideal for fostering better engagement amongst employees, colleagues, and co-workers. As liberal workspaces are impacting employee productivity in a positive way, open office spaces are spearheading the co-working movement across the globe. Liberal workspace designs laced with employee-centric workstations are giving way to path-breaking ideas. With open office spaces, businesses stand the chance to open doors to a new plethora of opportunities.

5 Ways To Increase Productivity At Workspace

5 Ways To Increase Productivity At Workspace

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“Productivity is never an accident. It is always the result of commitment to excellence, intelligent planning, and focused effort.” – Paul Meyer.

It is not the amount of work that you do in a day; rather the effectiveness of work that helps you achieve a competitive advantage. Harvard Business Review defines ‘productivity’ as the amount of value produced divided by the amount of cost (or time) required to do so. Increased productivity helps you yield tangible results, but on the other hand, being unproductive can adversely affect your business and sustainability in the market. The environment that you work in has a significant impact on your productivity. Awfis provides an affordable, tech-enabled, collaborative, high-energy co-working office environment that will help you remain productive.

In this blog, we’ll take you through 7 effective hacks and tools to boost productivity at work.

1. Plan your plans:

Needless to say, time is the most important asset for every business. Therefore, it is important to prioritize work in order to save yourself from being unproductive at work. A study reveals that just 17% of people can accurately estimate the passage of time. Planning correctly is essential in order to achieve the set goals.Spending 15 minutes in planning the day before you start working is an effective way to increase your productivity.

2. Concrete goals:

By setting concrete goals for the day or for the week, you’ll know exactly how much work needs to be done and how much effort you need to put in to achieve your set goals. You may be surprised to discover that you have a lot of idle time or no time at all and by knowing this, you can plan your methodology accordingly. The goals you set for yourself will also motivate you and thus, help you remain productive.

3.Take breaks to work better:

The highest-performing 10% of workers tend to work for 52 minutes followed by a 17-minute break, reveals a study made by DeskTime, a productivity app. Taking breaks can boost your productivity by improving your blood flow and allowing you to return to work with fresh eyes and a clear mind. What’s more, taking breaks can help you concentrate better and by this, you’ll achieve your goals faster.

4. Track your time:

Tracking time helps you realize whether you are on the right path or not. Various studies reported that work interruptions can cost you 6 hours a day. Well, that is a lot of time! In order to achieve the goals that you’ve set for the day, it is imperative to manage and keep track of time. Additionally, you can modify your strategy based on the time you take for doing a certain task.

5. Avoid multitasking:

You’ll be surprised to know, multi-tasking can reduce your productivity by 40%. Although it is considered by many to be the need of the hour for all working people, more often than not, jack of all becomes the master of none. People, who try to do more than one task at a time, end up getting distracted and less effective, and their quality of work suffers.  Therefore, avoid juggling between too many activities. Take one project at a time in order to yield a better outcome.

Lastly, happy people are 12% more productive. Therefore, it is important to do the work that makes you happy and to work in an environment that gives you happiness. Awfis, being India’s largest Co-working company, aims at providing innovative co-working spaces across India. At Awfis, there is a workspace for everyone.

Do You Have Your Startup Strategy In Place For 2017?

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India is a young country with more than 50% of the population below the age of 25 and more than 65% below the age of 35. This gives us an edge in terms of the intensity of our start-up trend, which is largely considered to be driven by a younger age segment. This finds validation in the fact that India is the youngest start-up nation in the world with over 72% of start-up founders below the age of 35. We are also the third biggest ecosystem globally with 4,200 start-ups. What’s more, according to NASSCOM, India is expected to become the second leading start-up ecosystem globally by 2017, and the number of start-ups is projected to increase to 11, 500 by 2020.

Here are some factors that indicate these are exciting times to be a part of the Indian start-up culture:

Faster incremental growth of Indian start-ups than their leading global counterparts

It’s been just a few years since the start-up trend has caught on in India, and is not showing any signs of slowing down. This has given rise to a dynamic start-up ecosystem, indicating that the time is rife for national and international investments. The Indian start-up scenario also owes its scalability to the fast-developing infrastructure, growing briskly at 40% per annum. According to Tracxn, a start-up which tracks deal-makings involving other start-ups, there are more than 280 incubators and co-working spaces in India that make the environment conducive for the further growth of fledgling start-ups.

vc funding
Source: VCCEdge 2017

Rising national and international investments

Investors across the world have taken a cue from India’s encouraging growth as a start-up ecosystem. This is evident from the rising infusion of Venture Capitalism into Private Equity – from $13 million to $1.82 billion between 2010 and 2014. Helion Venture Partners, one of the more recognized VCs globally, has been the top investor in terms of deals volumes. It has also attracted other investors like Sequoia Capital, Kalaari Capital, Blume Ventures and Accel Partners. Angel investment too has multiplied by almost 8x from $4.2 million to $32.2 million. According to a KPMG Survey Report, such strategic opportunities will create a conducive environment for mergers and acquisitions in the near future.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mergers & Acquisitions

With the rapidly evolving start-up ecosystem in India, new businesses have shifted their dependence on regional and foreign investors for growing their organisation to achieving the same through M&A. While there were 43 mergers in 2014, 2015 boasted of 41 within the first two-quarters. Of these 41 acquisitions, only two were pertaining to large corporates viz, Mahindra & Mahindra and Godrej. This clearly sheds light on the increasing vibrancy and ambitions of the Indian start-up ecosystem.

Being the third largest economy and the youngest start-up nation in the world, India holds the promise for spawning many successful new ventures. As India outpaces other nations in start-up growth and continues to invest in intellect and infrastructure, it seems that the stage and backdrop are set for a blockbuster performance. It’s now only up to you to get your act right. Go on then, and give it all you have. It’s your turn to shine. The world is watching!

Table Etiquettes For Meals In Business Meeting

Table Etiquettes For Meals In Business Meeting

Business How To’s, ,

As a business owner, you may have to attend various business meetings to discuss your strategies and proposals. The eating etiquette you follow on the table defines your personality to a great extent. The difficulty is to follow the etiquette while discussing work as you have to concentrate on both the aspects simultaneously. We can help you in practicing these dinner table etiquette to make your job easier.

  • Host is the in-charge

If you are hosting the dinner, it is your responsibility to select a good venue and make an advance booking. Once all guests arrive, the host should order the meal and direct your guests to take their seats. Insist on enjoying the meal before getting into the business conversation. The host should pay the bills too, but with grace and subtlety. Don’t fight for the check; ask for it politely.

  • Make your guest feel comfortable

As a host, you have to make your guests feel comfortable. If they order an item like dessert, you may also order dessert following the same suit. But draw a line between getting too insistent in your approach to avoid coming across as desperate to impress. Also, never pull the chair for your guest unless it is a matter of gender.

  • Use proper utensils

Crockery and cutlery for each course differs at good restaurants. If all the crockery required for the respective course are offered in front of you, start from the one on the outside and work inwards. You must follow the etiquettes to use forks, knives, and spoons. Prepare beforehand if you don’t know the different kinds and their usage already.

  • The Rest and Finish positions

You must indicate the waiter that you are resting or finished your meal. To indicate rest position, place the knife on top of the plate and fork across the middle of the plate. To indicate finished position, place fork and knife diagonally at the middle of plate lacing knife above the fork.

  • Wish the wait staff

Never criticize food or the services directly if you are a host or guest. You must practice wishing the wait staff with the words ‘please’ and ‘thank you’. If you criticize, it would be an insult to the host. Try to speak good words about the dinner and the services host arranged.

These are the basic luncheon/dinner etiquette you need to follow as a professional in meeting rooms. It is recommended not to ask for leftovers as it is a business dinner. Practice these etiquettes well and you should be fine to manage an excellent meal with your potential business collaborator.

Top 5 shows for entrepreneurs | Awfis

5 Game changing shows that are a Must Watch for every Entrepreneur

Business How To’s, Work Life Balance, ,

Even the super-charged entrepreneurs require a chill-break every now and then. What could be a better way for kicking back and relaxing, than some “TV Time”? Here are five fantastic shows which would get the entrepreneurial motor in you running.

1. How I made my millions

A very popular show from 2009 about the life of an ordinary man, who can convert a little amount to millions with just a simple idea and turn it into an extraordinary business. The show was live on CNBC for 3 consecutive years and explored the success stories of many people who started their business from nothing. It is worth watching to learn how to make it big with small resources.

2. Shark Tank

If you are looking to invest in a business and need some ideas, this show is for you. Shark tank is a business show based on BBC show Dragon’s Den. It allows an opportunity to entrepreneurs with varying ideas to pitch for an investment to a board of 5 prosperous investors, referred to as the “Dragons”. Shark Tank features ambitious entrepreneur contestants as they give business presentations to the panel of investors known as the “sharks” who then decide to invest in exchange of equity if they find the pitch interesting. Currently in it’s eighth season, one can watch Shark Tank on ABC Go. Colors Infinity will also start airing the 7th season this March, every Monday at 6 PM.

3. Undercover Boss

This show was first aired in 2009 on the British Channel 4. It is an epic example of the age-old practice of going undercover to assess performance and problems in the company hierarchy. This show covers the senior executives identifying the issues and ideas to improve their business. The eighth season just ended in December 2016 and can be viewed on CBS official website with subscription.

4. The Apprentice

The Apprentice gives the best lesson on how to deal with your employees in both good and bad times. This show is best known for educating an entrepreneur on how to communicate and interact with their stakeholders. The format has already been rebooted twice to become ‘The New Celebrity Apprentice’ at present. It continues to feature season long contestants from political and famous backgrounds. The Apprentice previously had the now United States President Donald. J. Trump as host for fourteen seasons and can be viewed on NBC network.

5. TVF Pitchers

Our very own Indian startup story in a humorous yet real perspective, conceptualised and created by The Viral Fever. This show created ripples in the Indian web series space with the accuracy of the modern-day startup founder’s life and struggles. The story of 4 friends coming together to build their dream business, putting their personal lives and career at stake is engaging and not preachy. If you are in for some hearty content with real struggles that friends in an early stage startup go through, this show is a must. It is available on YouTube and TVF Play app and website.

We recommend you to have a glance at these shows and look for marking tips and tricks which you could learn and apply in your business. Also, remember that in today’s market those who can capture the attention of their customers are the ones who can capture their wallets!

These are some of the good shows on entrepreneurship. In case you follow a show online or on TV which you believe has something valuable about business, please share your thoughts through your comments below.

Top 5 WRONG Reasons for Starting Your Own Business

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Every entrepreneur has a purpose for initiating their own business. Each one of them has a different story whether to resolve an issue encountered in real life or to pursue their passion, commencing a business of your own can be a life-changing decision. There are several reasons that inspire budding entrepreneurs to chase their dreams of starting a profitable business.

However, if you’re in the opinion of starting your own business for any of these five reasons, then it’s better to think again:

Getting rich

Making money is the legitimate & prime purpose of business. However, for a good business wealth is the by-product, not the main product. If your dreams of entrepreneurship are like boarding a charter jet for Monaco, call a time out. Not every businessman strikes gold or diamonds. Chasing such dreams of cash rainbows can divert you from decision making of good business.

You hate your job

You don’t like your job, but this is not an excuse to start your own business. Instead of hating your job, focus on your positive energy to find a positive solution to your employment problems. If you are an employee working for an unreasonable and demanding superior, then it is quite obvious that this sentiment would have crossed your mind many times. Before leaving your job you must ensure that you are replacing it with a feasible alternative that is financially viable.

You Want to Work Less

Being an entrepreneur and running a business is time-consuming, particularly in the launch of the business. Your 24/7 presence is required to make your business stand and thrive, unlike your job where you can spend time with your family when you don’t have pressure. There is always something to do and you are the only one to make sure it gets done.

Being an Entrepreneur Would Be Easier

If you think that being an entrepreneur would be easier than working in a corporate office space then it is a complete misnomer. Though there are certain complications that are linked exclusively with corporate jobs, but every job has its pros and cons – even in running your own business. Entrepreneurship has its own various set of challenges, but it is in no way easier than having a corporate job.

To Become Your Own Boss

This is the myopic hypothesis. As you have to understand that when you start a business, your suppliers, partners, customers, creditors and a lot of other people will become your new “bosses”. Do not think of starting business if you’re hungry for power.

Every entrepreneur should to be honest with respect to their strengths and weaknesses, and should have realistic reasons for considering the startup path. For a new venture, even with the best of business opportunities, if done for the wrong reasons, would most likely fail.