This weekly quiz of Your story tests your domain knowledge, business acumen and lateral thinking skills (see last week’s quiz here). In the tenth edition of the quiz, we present five issues addressed by real entrepreneurs in their startup journey.
What would you do if you were in their shoes? At the end of the quiz, you will find out what the entrepreneurs themselves have actually done. Would you do things differently?
Discover YourStory Book review also, with takeaways of over 320 titles on creativity and entrepreneurship, and our weekend PhotoSparks section on creativity in the arts.
Q1: Power of video surveillance
Video surveillance is becoming ubiquitous in stores and cities around the world. However, much of their data is only analyzed after an incident, such as a robbery. What’s the best way to harness the power of CCTV cameras?
Q2: Endorsements and opinion leaders
For a long time, celebrity mentions have been the most viable approach for many brands to increase appeal. But this approach has its limits, and new avenues have emerged. What is this new reality and how would it work?
Q3: Websites and beyond
Websites have rapidly evolved into online storefronts and there are many companies offering products for e-commerce activation. But expanding to other countries can be a challenge. What’s a good way to expand without setting up local offices?
Q4: Chat or calls?
Live web chat for customer service has a number of advantages. Techniques like automation can be easily deployed, they lend themselves well to predictive analytics, and millennials seem to prefer it. So why should businesses offer phone support?
Q5: Improve online learning
Group activities, personalized content, simulation games, rich visualization and peer learning are some of the ways in which digital platforms are enhanced for online education. What other emerging technology can add much more life and analysis to the online learning experience?
Congratulations on making it this far! But there’s more to come – answers to these five questions (below), as well as links to articles with more details on entrepreneurs’ solutions. Happy reading, good learning – and good creation!
A1: Power of video surveillance
Abhijit Shanbhag launched Graymatics to improve the power of security and surveillance systems. Many CCTV images and videos are not used in real time to detect and stop incidents such as vandalism.
The startup has developed real-time analysis solutions that integrate with the existing video surveillance infrastructure, making them active devices and not just passive observers. Its tools are used in smart labs, utilities and retail operations. Learn more about the startup’s journey here.
A2: Endorsements and opinion leaders
The emergence of digital media avenues has spurred the rise of new age thought leaders. “Creating images and connecting with consumers for the brand is no longer limited to celebrities,” explains Anupam Bokey, Marketing Director, Allied Blenders & Distillers.
“Brands can find smart ways to leverage digital influencers who are seen as more credible and accessible, imparting authenticity to a brand’s message,” he adds. However, this requires the brand to have precise measuring mechanisms and be nimble for quick changes. Read more here.
A3: Websites and beyond
Franchise networks and implementation partnerships are effective means of international expansion for e-commerce activation. For example, platforms like Shopify, Wix, and Woo Commerce are being customized in various countries for local vendors.
Marmeto, founded by Shashwat Swaroop, has grown from a website development company to an ecommerce enabler. “We build websites, apps, and business solutions on Shopify,” he says. The startup works with more than 500 companies, such as Mobile Premier League, Epigamia and MTR Foods. Read more here.
A4: Chat or calls?
While live online chat offers consistency and efficiency, there is still a lot to be said for phone support. Freshworks Customer Director Pradeep Rathinam advises brands not to ignore phone service – it can be used for urgent and critical requests.
“With phone calls, you can make deeper connections and answer more complex queries that can help you build customer loyalty,” he insists. Learn more about a range of experts here.
A5: Improve e-learning
Augmented Reality (AR) and Virtual Reality (VR) make learning more immersive – thus increasing focus and absorption, according to Uttam Kumar Pandey, Founder and CEO of Perceived Design.
“In addition, augmented reality and virtual reality come with tracking and analysis mechanisms, which allow educators to track student progress, understand their preferences and monitor their learning journey,” adds. he does. Hybrid blended experiences can also be designed which can improve soft skills such as managerial communication. Read more here.
YourStory also published the paperback “Proverbs and quotes for entrepreneurs: a world of inspiration for startups” as a creative and motivating guide for innovators (downloadable as apps here: Apple, Android).