Increased customer satisfaction is sacrosanct when it comes to any type of business. A WhatsApp business account integrated with a chatbot helps businesses to connect with their customers promptly and regularly thus being able to achieve higher levels of customer engagement and increased conversions.
Before we jump into the WhatsApp chatbot, let us know about chatbot and its benefits.
A chatbot is basically an AI simulated computer program that is designed to interpret and process the user requests and give prompt and most-relevant answers. It can be programmed to give a voice message as well as a text message.
A chatbot first analyzes and identifies the intent of the user request.
To classify the user request and to send an appropriate response, it adopts three methods. This is where AI comes into play.
The texts are grouped and matched to pre-existing patterns through AI Markup language. When a match is found, the answer to that related pattern is sent across.
The user request text is converted into structured data. The NLU algorithm follows the entity, context and expectation concepts to find an appropriate match to the user query.
The NLP first converts the text input into structured data. A set of relevant words is converted into a token. The user emotions are processed (voice). The typo errors are checked before looking for the categories of information required by the user. The bot matches the tokens with the common phrases and picks the answer when it finds the near-relevant match.
During the conversation, the user will have to pick options from the text passed across to them. This is a guided conversation and the user’s next step will determine the response. The bots that follow a predetermined rule or a structure are the rule-based chatbots. These bots can be programmed to answer queries related to delivery status, transactions, business hours and services.
The conversational chatbots or the virtual assistants use the power of predictive intelligence and sentiment analysis to understand the context of user queries and provide more personalized conversations. They mimic the human voice and help businesses deliver a customized experience.
1. Prompt reply
In any business, it is not possible to be available to the customer 24*7 and reply to their messages instantly. But with chatbots, you can automate responses and get it delivered to the customers instantly. Also, you can be available to them 24*7.
2. Conversation starters
Bots can keep the customers engaged initially. This way you can offer recommendations and general information about your services and offers.
3. Manage customers
Businesses can manage customers during peak days or hours by automated responses without spending extra on additional manpower.
4. Directing leads
Through chatbots, you can direct the leads from customers to the relevant team for further engagement. For example in a real estate business, chatbots can identify the user queries for different projects and direct the users to respective project teams.
5. Increased conversions
By constant and instant customer engagement, chatbots help to decrease bounce rates and increase conversions.
WhatsApp Business API can be integrated with third-party tools to provide you with a WhatsApp Chatbot. Many third-party tools offer free services while some charge a monthly or annual subscription. WhatsApp provides insights to analyze the delivery of messages and user engagement.
Specially designed for medium and big enterprises, Messenger People offers end-to-end encryption and GDPR compliance in its message communication. It is easy to create chat texts here without knowing the basics of coding. This acts as a centralized customer message management platform for many other social media channels like Telegram, Facebook Messenger, Apple Business Chat, Viber including WhatsApp.
Benefits of Messenger People-
Drift offers free and premium chatbot services. Very beneficial for small and big enterprises alike, it has a host of features that will help you to engage customers and even book a meeting with them.
Benefits of Drift-
Like other chatbots, the AI Agent Bot also helps integrate AI-chatbots to your WhatsApp business account. It offers superior AI analysis to help you send personalized messages to user queries.
Benefits of AIAgentBot-
It is now easy to integrate chatbot with Whatsapp. Chatbots are essential for every business be it real estate, transportation, local services, or the hospitality sector. It will help enterprises boost their sales and engage the customers in meaningful conversations that can lead to conversions. Properly channel the possible user queries and your automated response will work wonders in converting leads into sales.
If your business needs WhatsApp chatbot integration, get in touch with us. We will help you integrate the best chatbot tool with your WhatsApp business account so that you can keep your customers queries resolved at all times.
How can we leave behind the cricketers when it comes to celebrities who invest in startups? Here is the list of famous cricketers who have invested in tech startups or turned entrepreneurs themselves.
List Of Celebrity Cricketers Who Have Invested In Tech Startups-
Kapil Dev, the famous former Indian cricket captain, has invested in Mumbai-based Samco Ventures. He has also invested in a cab aggregator VAOO that offers free rides to passengers when they view advertisements. Recently, he has invested in a power sector-focused startup Harmonizer India that delivers AI, ML and IoT-based energy-efficient solutions.
More recently, he has invested in a sports & entertainment-related agency SportsBiz.
Virat Kohli, along with his actress wife Anushka Sharma has invested in a Bengaluru-based technology-backed insurance startup, Digit Insurance.
He has also invested in Chisel, a fitness startup that has a chain of gyms and fitness centers.
Virat has partnered with Hong-Kong consumer electronics company Zeeva to launch MuveAcoustics, the audio equipment company in India.
Virat Kohli has invested in a London-based startup Sport Convo. This app connects the sports stars with their fans through social media.
He has also invested in EazyDiner, an online table reservation platform. Other than this, he has also invested in healthcare marketplace Healthians, automotive services marketplace startup Cartisan, online marketplace for private jets and helicopters JetSetGo, a tech-based booking platform for mini-trucks Moovo (now shut down) and many other startup incubators.
The former Indian cricket team captain, M S Dhoni has invested in the business ledger app KhataBook. He has also invested in online used car marketplace Cars24. Apart from these, he has invested in Run Adam, an analytics-based platform that connects sports rookies with resources like coaches and sponsors.
Sachin Tendulkar, one of the Indian celebrity investors, has invested in Indian Tennis League, Indian Super League and in the hotel business. He also has a significant investment in Sportsbiz, a company that utilizes the power of AI and advanced analytics to help brands increase their sports marketing and investment for sponsorships. The God of Indian cricket, he has invested in an Internet-of-Things (IoT) company Smarton India. He has also launched a premium menswear brand True Blue in partnership with Arvind Fashion Brands Ltd.
E-commerce is a promising sector and if well managed can give you lucrative returns. If you have a niche product or service to sell, come to us. We will design an ecommerce website and mobile app for you to ensure that your sales increase.
We design user-friendly and responsive websites that will help viewers with easy product search and payment. We are the best ecommerce web development company and we specialize in website and mobile app design and development.
When one wants to expand a business through an MLM plan or when one wants to join a leading MLM company for extra income, one would need information on the latest top MLM companies in the world. This will give them information about what makes these MLM companies successful and what are their compensation plans.
MLM (multi-level-marketing) plans are best when one wants to augment their income or improve their savings. Also, a business can reach greater levels of success if it follows any MLM model. An MLM plan in business ensures that your product reaches new people in a cost-effective way. A company will increase its product sales if it has a well-thought MLM plan that has a good compensation plan to pay to its distributors.
Let us see the top 5 MLM companies in the world-
Sales: US $ 8.4 billion in 2019
Amway Corporation, a Michigan-based MLM company became a household name in the US by selling a vast product line including home and personal care products, dietary supplements, and electronics. Its distributors are paid commissions on the sale of products and also on recruiting new members to its direct-selling model.
Amway was established in the year 1959 by Jay Van Andel and Richard DeVos as American Way Association (Amway). Its first product was a concentrated liquid organic cleaner. Since then, it has established its presence in over 100 countries.
The Amway products are not available in stores. They have to be purchased from distributors. Amway has earned a name for itself because of the quality of its products and its presence worldwide. 52% of its total sales were in nutrition and wellness products and 26% in beauty and personal care products.
Sales: US $ 8.3 billion in 2020
Market America was founded in 1992 by James Howard Ridinger and his wife Loren Ridinger. James is a former Amway distributor. At present, Market America is headquartered in Greensboro, North Carolina. Its products include household cleaning products, dietary supplements, water purifiers, jewelry, personal care products, financial management and custom websites.
Market America sells many products like auto care, electronics, water filtration systems and oral hygiene through affiliations with other outside companies that advertise and sell these products. The independent distributors are addressed as ‘UnFranchise Business Owners’ and they can also operate their online retail website. The distributors earn money through the sale of products and by bringing in new recruits.
Sales: US $ 5.57 billion in 2019
Avon Products was founded in 1885 by David. H. McConnell and is based in London, United Kingdom. Its main products are cosmetics, clothing and perfume. Initially started in New York, it first sold only perfumes and was registered as California Perfume Company.
Avon sells products in more than 100 countries. It shifted its headquarters to London in 2016. In 2019, Brazilian beauty company Natura purchased a 76% stake in Avon Products making it the world’s fourth-largest beauty company.
Avon Products operates training centers in some cities and they have a small retail section in which they sell skincare products. The main chunk of their profits comes from multi-level marketing in which they recruit Avon ladies and Avon men to do the direct selling of products.
There is ambiguity regarding Market America or Avon Products being the second largest direct-selling company worldwide.
Avon Products has already closed shops in France, Australia and New Zealand. Its sale is continuously dipping since 2014 and now it remains to be seen if the acquisition by Natura will infuse life to it.
Sales: US 4.89 billion as in 2018
Mark. R. Hughes is the founder of Herbalife Nutrition that has its headquarters in California, U.S.A. This multi-level marketing company sells weight management products, dietary supplements, personal care products and sports nutrition. It operates in 100 countries and has a network of independent distributors of about 4.5 million.
Herbalife’s first product was a protein shake, a weight management product. This Formula 1 protein shake is a soy-based meal replacement and even now remains the company’s best-selling product. In the USA, a member can join Herbalife as a member and get a discount on its products or join as a distributor to earn extra income. The members cannot sell products or are not eligible for rewards.
Sales: US $ 2.68 billion as in 2018
Nu Skin Enterprises is an American multi-level marketing company founded in 1984. It sells personal care products and dietary supplements. Its products are sold in more than 50 countries and it has about 1.2 million independent distributors.
It sells personal care products under its Nu Skin brand and dietary supplements under the Pharmanex brand. It also sells antiaging products under the ageLOC brand. It has its head office at Provo, Utah in the United States.
An MLM company succeeds when it has effective management of resources. An automated MLM software/website/app will help in organizing the downline and the payouts. MLM websites and apps help distributors in easy management of their sales and incomes. It also helps for easy communication between the distributors and their team leaders.
If you have any requirement for MLM software/website/app, you can count on us. We have the best website developer and designer who will design websites and apps that will help you in easy management of your MLM business.
The best way to grow your business and increase its brand awareness is to sell it through multi-level marketing (MLM) plan. Also called direct selling or network marketing, this type of plan succeeds when the members have a strong network and use it to join new members in the plan. This way, the products/services get sold and you reach a wide customer base. This MLM plan works when you offer attractive incentives and profits to the members.
Each MLM plan is structured depending on what a business wants to achieve and the product/service that it wants to sell. An MLM has many types. A business may want to achieve more customers, more product sales, target a specific location or group and so on. Based on this, the MLM type is decided.
The reason why MLM business is popular is that it offers a chance of income from top to the bottom of the tree. IN any MLM plan, you join as a distributor under someone. You start to enroll people under you. When the people under you make any sale, a small part of the profit gets distributed among the upline members. If the right people join under you, you are guaranteed a good income from your downline. The people under you also ensure the same and hence everyone is benefitted by it.
There are main 3 types of MLM plans-
The Binary MLM plan follows a tree-structure with two legs, usually termed as the right leg and the left leg. Only 2 people can be recruited directly under a distributor and the remaining goes under the downline. Usually, the two legs in the Binary MLM plan is known as the power leg and profit leg. New recruits are added in the power leg and the tree keeps growing. A new recruit is added to the profit leg to complete the binary structure. The profit compensation is distributed among the upline members.
This is the simplest MLM plan and allows distributors to add unlimited recruits directly below them. The distributor can keep adding newcomers and increase the width of his tree. The commission is distributed up to a fixed depth as previously decided. The process continues and schemes are made attractive by bonuses and incentives after reaching a specific level of frontline depth. This is most preferred for new MLMs as the concept is easy to explain for newcomers.
Also known as the forced matrix plan or the ladder plan, this MLM structure has a fixed width and depth as pre-decided by the company. Since the width is limited, the distributor has to drive more sales from his downline to enable profits. To qualify for the position and the forced matrix bonus in the Matrix MLM plan, the member’s downline team will have to complete their matrix and fill in all the required free positions. This type of plan is usually preferred by businesses that need people to purchase its products only once like RO filter, power bank and so on. Here a repeat purchase is generally not done by the members.
The rest of the MLM plans are derived from these 3 MLM types. A company can select the type of MLM that best suits their product and the business target they want to achieve.
This plan uses 3 child members under a single parent. Similar to the binary plan, a third leg is added usually to the left side here for sales support. During the time of payouts, 3 IDs are required for matching.
This plan is very popular now and is preferred by most of the newly formed MLM companies. It is very similar to the tri-binary plan, but the only difference is that binary matching is not essential to complete the tree. It is also called the X-Up Plan or Step-Up Plan.
This MLM plan grows in depth with recruits added one under the other. Also known as a monoline or linear compensation plan, here the distributor at the top of the hierarchy profits from every new user added downline.
Also known as the revolving matrix plan or the recycled matrix MLM plan, this constitutes a board with a member limit set by the company. The role of the member is to recruit other members in the downline. When the matrix is complete, the board is divided and the member now has to recruit new members to complete the new board matrix. He gets a commission for the completed board and has to pay to join the new matrix.
Also named as the Crowdfunding MLM, Donation Plan, Money Order/Cash Order Plan or the Help/Helping Plan, this is a give and take plan. A distributor receives help from his network/downline in the form of donations when needed. Or a distributor sends a gift directly to one member and receives gifts from many other members. So, some of the members receive multiple gift receipts from others. This is beneficial for people who lack financial resources for maybe initial startup, business diversification or some other purpose. In turn, when other distributors need money, all other distributors have to pool the money so that they help him. The Gift MLM plan is considered illegal in some countries.
In this plan, members recharge other people’s SIMs and DTHs. The bonus or incentive is received when a set number of transactions are completed. You also add new recruits to increase the network.
One of the popular MLM plans, the generation plan is also referred to as the repurchase plan or the gap commission plan. This involves the generation structure or the levels and members earn a certain income either on level completion or rank achievement. The level completion bonus is when a certain level in the tree structure is completed. The rank bonus is based on your performance and is mainly associated with how active your downline team is. The FMCG products generally follow the Generation MLM plan.
In a party MLM plan, the products/services are marketed through the arrangement of gatherings, parties, and social events. The host conducts the party inviting his family and friends and pitches the products to them.
The Hybrid MLM plan is a combination of two or more plans adapted to suit the business strategy and growth. Usually, the uni-level and binary MLM plans are combined to extract the strengths of both the plans.
This MLM plan also called the Stair Step Breakaway Compensation MLM Plan is based on a pre-decided volume of sales target that forms a step. When the distributor, with the downline team, completes the target/step, he is promoted to the next step or the higher level. The compensation is paid when the set target is complete. In this MLM plan, all strive for higher sales and better profits. While you move higher in the network, you better your income. Finally, those who earn higher or reach a threshold, breakaway and form part of another group within the MLM that aims for much higher income.
An MLM works well for businesses that lag behind in networking resources. MLM helps them to broaden their network and join new customers with the help of others. It also augments the income of its members.
An MLM works best when you manage the MLM tree structure and the payouts efficiently. The MLM software including the website and the app helps businesses to manage their MLM effectively. It fastens the calculations and helps in payout and member management.
If you are interested in MLM software, select the best MLM software development company near you that will design the software/website/app as per your MLM business requirement. After all, good MLM software will help you manage and increase your profits.
Surat is the city where you will get the finest of food and places to travel. While Surat city in itself is filled with many places to visit, there are places near this city that can be visited for a whole day or two.
Check these top 5 places near Surat that can be easily accommodated during weekends-
Synonymous with the famous Gandhi salt satyagraha, Dandi in Navsari has plenty to explore for a day. The Salt Satyagraha Memorial depicts beautifully the story of salt satyagraha from its conceptualization to the final picking up of salt grains to symbolize the breaking of salt laws. The Dandi beach along the Arabian Sea and the Saifee Villa that displays the pictures of Mahatma Gandhiji are the places to visit in Dandi.
Located in the Western Ghats or Sahyadris, Saputara is the only hill station of Gujarat in the Dang district. Rich in natural beauty, Saputara is frequented by the people of Gujarat and neighboring Maharashtra throughout the year. The month-long Saputara Monsoon Festival showcases the rich customs and traditions of its native tribal population.
The capital city in the Indian union territory of Dadra and Nagar Haveli and Daman and Diu, Daman was once a Portuguese colony. The Daman fort, beach, Jain temple, and the Church of Bom Jesus are the main attractions. If you are a food lover, try the various sea-food options here. Also available are the adventure sports along the seashore that will help you spend quality time here.
At 182 meters, the Statue of Unity is the world’s tallest statue. Constructed on a river island, this statue faces the Narmada Dam downstream. The statue houses a museum and audiovisual gallery. There is a memorial garden at the base of the statue. The Sardar Sarovar Dam, Tent City, Butterfly Park, river rafting, and Valley of Flowers are added attractions near the statue.
The hometown of Parsis in India, Udvada is rich in Zoroastrian heritage. This quaint little coastal town has the sacred fire temple inside which lies the ‘Victorious Fire’ or the Atash Behram. The tourist places in Udavada are the Zoroastrian heritage museum and the beach. Fit for an idyllic holiday, visitors must try the mouth-watering Parsi food and the delicious snacks from the Irani Bakery here.
We have tried to list the top 5 places near Surat to help visitors plan their travel. There are many other places to explore in and around Surat that can also be included in your travel itinerary like Tithal Beach, Dharampur, Vansda National Park, Pavagadh, Umbergaon, and so on. So, where are you planning to go next?
The list of celebrities who invest in startups is growing at an exponential rate. Taking a cue from the success of other early entrepreneurs and investors, many celebrities have joined the bandwagon in promoting and investing in startups that they can relate to.
The latest to join the league of Indian celebrities who have invested in emerging tech startups is Katrina Kaif. She had already launched her own beauty line ‘Kay Beauty’ on Nykaa Fashion startup. Now, she has invested an undisclosed amount in this beauty products e-commerce platform.
Here, we have compiled a list of international celebrity entrepreneurs as well as Indian Bollywood celebrities who have invested in emerging tech startups or launched their own businesses.
Hollywood investors are many. Ashton Kutcher leads the list with his impeccable knowledge in startup investments.
1. Ashton Kutcher
First in the list of celebrity investors is Ashton Kutcher, a celebrated Hollywood actor. He has invested in many tech firms either directly or through his investment firm A-Grade Investments. Some of his well-known investments include Skype- a video calling app, Flipboard- a news aggregator and a social magazine app, FourSquare- a location-based service, Airbnb- a popular vacation rental app, Path- a photo-sharing app (discontinued now), Spotify- a digital music streaming app that gives access to millions of songs, Uber- an on-demand cab hiring app.
2. Leonardo DiCaprio
Leonardo DiCaprio had invested in the now-defunct Mobli, a social mobile photo and video sharing app. He has also invested in Suja Juice that sells organic cold-pressed juices. He has also invested in a company Casper that manufactures mattresses and pillows.
3. Justin Timberlake
Justin Timberlake has steadily invested in a diverse portfolio. He has invested in a photo start-up Stipple, Disney-acquired app maker Tapulous (now shut down), a boutique music record label Tennman Records, clothing brand William Rast, a golf course Mirimichi Golf Course.
4. Kim Kardashian
5. Lady Gaga
6. Will Smith
7. Robert Downey Jr
Robert Downey Jr, a popular Hollywood actor known for his film Iron Man, has invested in a life insurance startup Ethos Technologies Inc, an online education platform Masterclass that offers interactive tutorials by experts in various fields.
8. Demi Moore
10. Jared Leto
A well-known actor, director, singer, Jared Leto has invested in numerous startups like Reddit- a social news aggregator and web content rating and discussion website, Uber- an on-demand cab-hailing app, Slack- a business communication platform, Headspace- a digital health app, DocuSign- an electronic signature service app.
When it comes to startup investments our Bollywood is not behind. From the likes of Amitabh Bachchan to Deepika Padukone, many have invested in either startup or have turned entrepreneurs with their own brand launch. Let us look at the Bollywood investors who have taken the investment and entrepreneurship route.
1. Amitabh Bachchan
Amitabh Bachchan, Indian Bollywood’s Big B has invested in the Mumbai-based local search engine app Just Dial. Together with his son, he has also invested in a Singapore-based blockchain empowered micro-lending solution provider startup, Ziddu.com. He has further invested in a Mumbai-based edtech startup Eduisfun that develops gamified educational apps for CBSE and ICSE students.
2. Shahrukh Khan
The heartthrob of Bollywood, Shahrukh Khan has heavily invested in sports through the franchise Kolkata Knight Riders of the Indian Premier League. He also has a film production and distribution company Red Chillies Entertainment. He also has a stake in KidZania, an international chain of family entertainment centers.
3. Deepika Padukone
Deepika Padukone has started her business investment by a multi-crore partnership with a health food brand Epigamia. This Mumbai based company sells Greek yogurt, artisanal curd, snacks, smoothies and Indian sweets. She has also invested in an IISc-incubated space tech company, Bellatrix Aerospace.
Deepika Padukone, through her family investment vehicle, Ka Enterprises, has invested in Blu Smart, an on-demand electric cab and bike-hailing platform. She has also invested in Furlenco- an online furniture rental app and Purplle- a beauty products market platform.
4. Akshay Kumar
Akshay Kumar, the fitness enthusiast he is, has invested in a wearable tech startup, GOQii. Just like Fitbit, this wearable helps people track their steps in addition to their sleep and other physical activities. It is integrated with an app that offers real-time personalized coaching, health checkup schedules and health-related merchandise.
5. Aishwarya Rai Bachchan
Aishwarya, together with her mother, has invested in Ambee. This Bengaluru-based startup combines data and analytics to give information about the local air quality. This environment intelligence app helps customers take preventive measures in cases of severe environmental issues.
6. Shilpa Shetty
Shilpa Shetty, the famous Bollywood actress has invested in Groupco Developers, a real-estate based company that helps people find the best deals on properties. She has also invested in IOSIS, a chain of spas in Mumbai. Being one of the most popular celebrity entrepreneurs, Shilpa Shetty has invested in many restaurants and has also managed to monetize her love for Yoga. Her latest investment venture is Mamaearth, a baby care startup that offers natural, toxin-free products for mother and baby care. Viaan Industries founded by Shilpa Shetty and her husband is in news for alleged money laundering.
7. Arjun Kapoor
Arjun Kapoor has invested in a home food delivery enterprise called the Foodcloud. This startup empowers homemakers to take orders and deliver fresh and hygienic home-cooked food to customers from their home kitchens.
8. Priyanka Chopra
Priyanka Chopra, a global film actress and a model, has invested in a feminist dating app Bumble. She has also invested in a college education startup Holberton School that offers a project-based alternative to college for software students.
9. Farhan Akhtar
Farhan Akhtar has invested in a film discovery app Flickbay that uses AI and ML technology to provide users with information about trailers, songs, reviews and ratings on films that are running in theaters or are available on TV and online streaming platforms.
10. Katrina Kaif
Joining the list of Indian celebrities investing in startups is Katrina Kaif, a popular Hindi film actress. She has started her own line of cosmetics Kay Beauty and has partnered with Nykaa Fashion for the product sale.
11. Salman Khan
Salman Khan, a popular Bollywood actor, has invested in Yatra- an online travel company. He also has his clothing and fashion brand, Being Human that funds his charity organization, the Being Human Foundation.
12. Aamir Khan
13. Alia Bhatt
14. Jacqueline Fernandez
15. Anil Kapoor
16. Ajay Devgn
17. Boman Irani
Joining here in the Bollywood investors list is Boman Irani, a popular actor who is remembered for his intense as well as comic roles. He has invested in Rooter, a platform that brings the sports fans together when a sporting event is held.
18. Suniel Shetty
19. A R Rahman & Shekar Kapur
20. Ayushmann Khurrana
21. Madhuri Dixit
22. Malaika Arora
23. Rana Daggubati
25. John Abraham
26. Karishma Kapoor
27. Lara Dutta
Lara Dutta, a famous Bollywood actress together with her husband Mahesh Bhupathi, a famous tennis player, has started her production house Bheegi Basanti Entertainment. She has also introduced her fitness and holistic lifestyle DVD series under the name H.E.A.L (Health, Exercise And Longevity).
28. Rannvijay Singha
What’s Up Life, an online lifestyle media platform has been backed by investment from Rannvijay Singha. This famous actor and TV personality has also invested in the sports management company IT Magia Solutions and also in a fashion styling app IStyleYou.
29. Ronnie Screwvala
Sealing a place in the list of celebrities who invest in startups is Ronnie Srewvala, the founder of UTV Group (now known as Walt Disney Studios India), who has invested in UpGrad, an online higher education platform that helps aspiring students through programs built with top universities and industry partners.
30. Sukhbir Singh
Popular singer Sukhbir Singh has invested in a beverage startup LQI that manufactures smoothies, milkshakes and fruit water frozen packs. He has also invested in a startup eBikeGo that is an electric bike rental company.
Picking the right startup to invest in is a challenging job. The idea, the team, the market, the consumers- all these need to be taken into account. But once done, there is a huge scope to get good profits.