Business potential of stock broking agencies in India

Published on: 21 November 2018 Last Updated on: 10 September 2024

Over the last few years, quite a few stock brokers have been forced to shut shop due to weak business. This is true not only of broking but also of other businesses where automation has been taking its toll. To survive and thrive in the stock broking business you need to be able to extrapolate the key trends in stock broking and position yourself accordingly. How do you differentiate yourself as a stock broker? That is the only way you can realize the full potential of stock broking. Remember, each year Indian investors are investing more than $25 billion into equities either in direct equities or via equity and ELSS funds. That is a lot of money. How do you grab the most of this potential? There are five things that you need to be aware of.

The industry is getting divided into two segments:

In the broking industry, you either need to run with the hares or hunt with the hounds. The broking industry as a whole is getting stratified into the zero brokerage discount brokers and the full-service brokers. The room for the in-between brokers is increasingly reducing. If you want to be a discount broker then focus on an efficient offering at a very low cost. Alternatively, if you want to be at the full-service end then you need to be prepared to invest in research and technology. In the past, there was room for the median brokers who were somewhere between the full-service brokers and the discount brokers. With both these categories of brokers pushing their boundaries, the gap in between is getting squeezed. First, be clear on your positioning and your strategy should follow after that.

Be clear on the value proposition:

This is a logical corollary to the first point. What is your value proposition? Are you offering the lowest brokerage in the market? That is an advantage that is hard to sustain over longer periods of time and the model is always vulnerable to sudden changes in the market undertone. Secondly, are you offering the best advisory services in the business? This called multi-level skills in portfolio design, need understanding, portfolio customization, portfolio review etc. This is quite complicated and any advisory is always open to an opinion about success and failure. In a competitive market, this can work both ways. Lastly, is technology your USP? In the past, technology was just a tool, but that has changed. Today it is possible to look at broking as a software company and offering a robust trading model that is super efficient and intelligent.

Automate and employ technology intelligently:

If you look at how brokers are adding value to their customers, most of the value addition in the last few years is coming through technology. Thanks to broadband and the use of smartphones, it is possible to trade on the fly using your mobile app. Brokers are also employing artificial intelligence and machine learning to make machines increasingly think and strategize like humans. And then there is the all-powerful call to action. Here the customer is guided seamlessly through research, screening, and execution without really realizing that they are different parts of the trading system.

Engage the customer continuously through financial planning:

Broking is increasingly commoditized. That is more the case when you try to offer broking as a solution rather than as a service. For an investor, the solution is the creation of wealth in the long term. The solution could also be managing risk. The solution could also entail profiting from short-term trends. Most often brokers tend to confuse between the product and the solution. Focus on the solution in this industry. When you are in the financial services industry you always start with the financial goal in mind. Help the client identify long-term goals and then prepare a plan to reach these goals. As a broker you will find out how easily equity, mutual funds, and even bond sit prettily into this scheme of things. That is the best way to increase your customer engagement and improve your ROI per customer. It is just that in this case, the ROI flows naturally.

Provide a delivery platform that simple, elegant and actionable:

One of the critical success factors in the broking industry will be the variety and robustness of the delivery platform that you offer. If you offer more platforms like online, offline, mobile, call-n-trade, SMS trading, non-market trades etc, then your chances of engaging the customer meaningfully is much higher. Your delivery platform should also be seamless such that the movement between research ideas; advise, screening and execution should be smooth and with minimum clicks. That is when the clients can actually experience the value proposition.

The key issue here is that the opportunity in the broking industry is still huge. It is just that the nature of the opportunity is changing. As a broker, you need to position yourself in the bracket that reflects your core strengths the best. The rest will follow!

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7 Tips For Women To Succeed In Business

Corporate culture has evolved over the years, as today, gender participation and role see new twists. In the present age, many women own businesses and are running them smoothly. Women now work in authoritative positions and run successful companies. Being an entrepreneur in the competitive business world requires business owners to demonstrate their A-game all the time. They have to stay abreast with the emerging technology, keep an eye on the market trends and be innovative with their marketing techniques to persuade customers into purchasing their services. Today, the representation of women in the business world is comparatively better than before. Still, the corporate world is primarily male-dominant. Women juggle many responsibilities and have to put in earnest effort to make a name for themselves. Modern women understand that entrepreneurship is not for the faint-hearted. Yet, many are courageous enough to take the plunge and venture into the business world. Women can succeed in the business world by demonstrating dedication, being flexible, and having nerves of steel. Many females have business ideas that they want to turn into reality and earn money through them. Embarking on an entrepreneurial journey is exciting for many females. Still, they also have a flick of fear in their hearts. Below we are stating some tips which will help women overcome their anxiety and succeed in business: 1. Focus on Continual Professional Development Successful people understand that there is always room for improvement, and they continue to strive for it. Women in the business should keep an open mind and not feel shy about learning something, even from juniors. Technology dominates the modern world, and many practices have been shifted online. Women entrepreneurs can take advantage of e-education and enroll themselves in online learning business programs. Several prestigious higher educational institutes have now waived off the GMAT requirement, a multiple-choice test, from the prerequisites of MBA admission. Women who want to make their companies flourish can enroll in online programs. They can search for online MBA no GMAT required programs to equip themselves with the latest business skills. Women who believe in constantly challenging themselves can groom professionally and thrive. 2. Get Skillful People on Board Entrepreneurs cannot take care of all the aspects by themselves and need to hire several people. They must ensure that they take competent people on board who are well-versed in their fields. Women business leaders must promote open communication and create an inclusive team environment where all employees work together to achieve the common goal. Besides, hiring professional people minimizes the chances of errors and enhances organizations’ productivity. Competent people know their jobs well and are committed to their companies. Female entrepreneurs must have a strategy for hiring their team and getting skillful people on board. 3. Know your Market Women entrepreneurs must realize that they cannot run businesses in a vacuum. They need to have a market and in-depth insight into it. Having a clear idea about the market enables them to formulate a business plan, devise strategies, and design their campaigns. Additionally, it helps them identify their position in the market and determine their competitors. The modern world has provided entrepreneurs with many options. Women business owners can use technology to conduct surveys to learn what their customers want. They can be creative and use other ways to get an idea about their audience and modify their techniques accordingly. 4. Learn to Prioritize Leaders have one thing in common: they prioritize their tasks and finish the utmost important ones without delay. Women entrepreneurs need to understand the difference between urgent and essential and should focus on significant tasks. The art of 'putting first thing first' helps business owners make their companies thrive as they accomplish their tasks on time efficiently. 5. Carry a Positive Attitude Women entrepreneurs can do wonders with an ‘I-can-do-it’ attitude. They must have confidence in their abilities and exhibit positive vibes. Entrepreneurs who empower others and have tremendous energy build a positive work environment and impact people in a good way. Another tip is to have positive self-talk as it boosts confidence and gives women business leaders the strength to overcome challenges. The key is to carry a positive attitude, believe in oneself, and be self-aware at the same time. Women entrepreneurs must not cross the line and be overconfident as it can adversely affect the business. Carrying a positive attitude helps in taking failures in stride and derive learning lessons from them. 6. Learn to Say No The world has changed massively and has started accepting women as leaders; still, there is a long way to go. Women entrepreneurs have to go through more challenges than their male counterparts. They may have to bear unnecessary pressure, but they need to develop a thick skin and learn to say no. If they disagree, then they should voice it professionally and should not give in to pressure. Women must realize that giving in the stress and agreeing to something they do not believe in can harm their company in the long run. 7. Take Care of Wellbeing Women entrepreneurs must realize that they cannot take their health for granted and look after their physical and mental wellbeing. Stress is part and parcel of the business world, and they should learn to manage it. Eat healthy food, be physically active and take proper rest. Good health is critical to succeeding in the cut-throat competition of the corporate world. Conclusion Words like ‘shepreneur’ or ‘womenpreneurs’ create a buzz in the business world as an increasing number of women take the plunge and enter the competitive market. They understand the challenges and the hard work that entrepreneurship demands and give their heart and soul to their companies. Women who are confident about their abilities committed to their cause, and learn from their mistakes put their companies on the path to success. They should equip themselves with the latest business skills, be strategic and thoughtful about their success, and demonstrate consistency to succeed. With each passing day, more and more women are launching their companies and are ready to do what it takes to succeed in the market. Read Also: How Business Leadership Plays an Important Role in Business Success? 4 Business Leadership Skills for Business Success

What Is Channel Management And How Does It Work?

When you are a manufacturer or the handler of a company, you have to understand that you can not manage all the work yourself, especially the production and the selling on your own. Manufacturing and looking after the production lines is the essential job of a manufacturer. But out of the product sales, the company will make a good profit. If you want to grow your company, you have to concentrate on selling the goods primarily. Here the names of the channel management process are becoming stronger. Without a successful, efficient channel management process, your business and the products selling both are turning to be hectic jobs. But when you involve channel management software in the system, your sales and marketing work is becoming more simple and more productive. Let’s see first the answer to ‘ what is channel management?’ What Is Channel Management? The manufacturers are looking after the product’s production. After the production of the product, these products are heading towards the market for sales. Channel management is a process where the channel partners look after the product selling and product marketing with a specific channel. Channel management is working as the connecting bridge between the customer and the manufacturing company. The channel partners followed an individual target to sell the product and make the communications between the customer and the manufacturing company. Most of the channel partners are following the contractual bond between the company and them. And they are communicating on behalf of the manufacturer of the company. The channel partners can individually develop any new channel management strategy to improve the marketing plannings. The relationship between customer service and channel management is quite dependable. Customer service is an essential key integral part of the channel management process. When the channel management partners represent the company brand, the customer care services should be pretty strong and professional as the customers do not lose their faith in the brand. Now we think the channel management definition is clear to you. Now let’s jump into the next phase of the question of the importance of channel management. The channel management example is giving you a better understanding of the topic. Pros Of The Channel Management Process For Running a business, the necessity of a productive channel management process is to help you to grow. The main working area of the channel management process is to streamline all the business and customer communications. This is the reason in the positive channel management process that customer communication is so important. Here are the pros of the channel management process. Take a look at this and plan your successful channel operation module. The Channel management process is looking after the communications between the customers and the manufacturing company. And make a better relationship with good customer care support. Along with good revenue generations, the customer relationships and the bonds are going to be stronger when you are using the successful channel management process. Each channel partner is responsible for streamlining the communications with the customers in the channel. Every channel follows different types of strategy and different types of customer care services. Along with the goal achievements, you will know which module is the best suitable for your business. Techniques and strategies wise, each and every channel is using different techniques. But business protocol remains in the same position. The channel partners are establishing direct communications with the customers of the specific channels. So every time the customers need any specific help, the channel partners are present to provide the customer support. Along with the good customer support, your brand value is also going to increase, and your products are going to reach a good number of customer connections. These are the attractive features of the channel management process. And if you want to grow your business, the first thing you have to do is develop attractive channel connections and develop a good channel process model. How To Boost Your Channel Partners? Boosting your channel partner means you are taking action to grow your business. Successful channel management is the only way by which you can spread your product sales areas. Successful channel management has multiple benefits for your business. The best of all is the manufacturers do not have that much time for customer communications and looking after marketing and sales. But direct recruiting is very costly here. Here is some strategy that you can follow to boost your channel partner’s energy. Excellent cooperative collaboration with the channel managers and schedule data exchange is a regular job to boost the channel partner’s energy. And the meetings and essential training are the compulsory tasks to grow the channel engagement process and improve the communications. Announce the suitable incentive models for your channel partners. And elaborate the model structure in the open seminars. Always give the achievable target and a different target scope with different incentive structures. The target should be on the basis of the experiences and the channel’s nature. So for every channel partner, the target is distant. Seminar meetings are helping you to develop a stronger bond with your channel partners. Always communicate with the partner, and the channel manager should always maintain the communications between channel partners and the company. The company goal and the channel partner’s cooperation are helping you develop a solid and productive channel management system. More you recruit the new channel partner, their different perspectives, and the additional business terms are helping you to make progress and generate a new productive channel management process. Wrapping It Up The channel partners are a great help to spread your business and develop a more productive sales and marketing team. Hence, you are a manufacturing company and do not have time to look after sales and marketing. Therefore, creating a good channel management process offers the best facility to your customers. What is your opinion about the channel management process? Do not forget to share your opinion with us. More Resources 5 Tips to Improve Your Internet Privacy Why Your Business Needs Call Center Tracking IT Quick Fixes for Your Business During the Crisis by Paul Belogour

How Philanthropy and Entrepreneurs Are Changing The World

If you have been following the news and are tuned to social media, you might have come across billionaires pledging sizable fortunes to charity. Bill Gates, Warren Buffett, and others have pledged to donate more than half their wealth to improving the condition of the less fortunate in society. You will know about how Philanthropy and Entrepreneurs are changing the world in this article. Entrepreneurship is not only about working hard and earning millions, but it is also about feeling good about doing something valuable. Yes, you might get satisfaction from buying supercars and private yachts. However, beyond a point, all those things fail to excite you. In this article, we will look at what entrepreneurs are doing to change their society, one step at a time. We will also discuss some lesser-known entrepreneurs who are silently engaging in meaningful philanthropy. Entrepreneurship and Philanthropy: Relationship The trend of entrepreneurs giving back to society is not a new phenomenon. America’s old billionaires like Rockefeller and Carnegie were famous for donating huge fortunes to uplift the deprived sections of society. Owning and distributing is one of the key tenets of philanthropy. Entrepreneurs know that they have benefitted greatly from the society that has allowed them to succeed. They also realize that giving back to society has a spiritual and otherworldly connotation to existence. You might see some of the top CEOs and Founders talk about meditating early morning and believing in things like ‘Karma’. In simplistic terms, it might be about feeling good about yourself. It can also be about not feeling guilty about enjoying some of the best things that money can buy. Most of the entrepreneurs are not from lineage. They are first-generation success stories. They have seen their parents struggle when it comes to food, health, education, and other middle-class challenges. Their sense of social responsibility to philanthropy stems from their humble background and origin stories. According to Forbes, philanthropy is about solving social problems that can help establish large enterprises. It needs disruptive ideation, innovative insights and a real zeal to engineer change. Entrepreneurs are famous for exhibiting the just-mentioned qualities. Entrepreneurs making a real difference to Philanthropy: While news stories about Philanthropy and Entrepreneurs doing the rounds usually concern themselves with big billionaires, many others are doing just as much. In recent years, entrepreneurs like Matt Redhawk are trying to benefit society in multiple ways. Matt Redhawk dons many hats. He is a writer, entrepreneur, producer, writer, and mentor. He is also a philanthropist who likes staying away from all the publicity. His publication, ‘Drought and Dreams: Stories of Resilience During America’s Darkest Time’ provides fascinating insights about American families and their struggles during periods like depression. However, the best thing about people like Matt Redhawk is the way they are inspiring similar entrepreneurs to follow a similar path. Conclusion Entrepreneurship and philanthropy should be considered as a journey, rather than a destination. Rather than considering it as a goal in itself, people should think of it as a continuous process. With so much strive, struggle and destitution, everyone should definitely do their bit in alleviating the situation in their immediate society. In this article, we looked at the intricate and varied relationships between Philanthropy and Entrepreneurs. We also looked at how entrepreneurs like Matt Redhawk are trying to change the world, one small step at a time. If you know of similar entrepreneurs, pleas mention them in the comments section below, You can also email this article to your entrepreneur friends to inspire them to take up the path of giving. Read Also: 7 Startup Ideas For Young Entrepreneurs Courses For Entrepreneurs Are Worth It – Here’s Why Green Business Opportunities For Eco-Entrepreneurs

Business potential of stock broking agencies in India

The industry is getting divided into two segments:

Be clear on the value proposition:

Automate and employ technology intelligently:

Engage the customer continuously through financial planning:

Provide a delivery platform that simple, elegant and actionable:

How to Save a Struggling Company

Five Reasons Your Business Needs Incident Management Software

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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7 Tips For Women To Succeed In Business

What Is Channel Management And How Does It Work?

How Philanthropy and Entrepreneurs Are Changing The World

Business potential of stock broking agencies in India

The industry is getting divided into two segments:

Be clear on the value proposition:

Automate and employ technology intelligently:

Engage the customer continuously through financial planning:

Provide a delivery platform that simple, elegant and actionable:

Share this Article

How to Save a Struggling Company

Five Reasons Your Business Needs Incident Management Software

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

Leave a Reply

Popular

Follow Us

Recent

Related