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Bangladesh Brand Forum’s March 2023 edition is out now. You can read my thoughts on FinOps in this issue under the title “FinOps – Understand, manage & optimise cloud spending for your organisation.”https://t.co/SEaMCfdzOhhttps://t.co/VBddS9mBtf@BBFBangladesh pic.twitter.com/9FweyQJNvy

— Rifat Ahmed (@Rifat5670) April 17, 2023

]]> https://rifatahmed.com/finops-understand-manage-optimise-cloud-spending-for-your-organisation/feed/ 0 7397 https://rifatahmed.com/i-just-made-a-bad-investment-im-not-worried/ https://rifatahmed.com/i-just-made-a-bad-investment-im-not-worried/#respond Thu, 20 Feb 2020 11:00:38 +0000 https://rifatahmed.com/?p=3287 Business is the most profitable & risky source of income — not breaking news, I’m sure.

Everyone notices when I make big bucks from Deftyled, my company or agency, or whatever you want to call it. They call me Dollar Rifat or World Bank Rifat or some other cheesy names to mock me or pamper or butter me or whatever they think they are doing.

But no one takes bad investments or losses into account, let alone the effort I put into my business. A well-calculated investment of my company went wrong today, and I lost a significant amount. It hurts like hell to lose your investment, but you know what, it doesn’t matter because this company made a hundred times more profit than the occasional losses, and it will continue to do so.

So, every to-be-entrepreneur out there, take it from an insignificant yet experienced solopreneur, don’t lose hope just because you are occasionally misstepping. Your profits will turn out to be greater than your “bad investments”. You just need to ensure client satisfaction. That’s all that matters.

I don’t actually love the term “loss”.

I use “bad investments” more often because it still gives you something — experience, instead of profit, which you wanted. So, losses are still investments, just not “good”.

By the way, if anyone knows how to cheer a guy who just made a “bad investment”, you are welcome to try.

And I’m sorry if it feels like I am rambling, I just took a prescribed sleeping pill, and it’s kicking in. This rambling could be a side effect…

According to a study by Digital Commerce 360, there are already 12–24 million e-commerce businesses, and among these millions of companies, there are 650,000 alone which generate annual sales of more than $1000.

That was 2014’s stats.

You might be thinking, “It’s already 2018 and by now, the figures should be huge. Is there no place for new startups?” Guess what, we are happy to say, “Yes, there is.”

If you have a new concept, don’t suppress it. Make it happen.

You won’t even realize how fast you can grow your business idea in success. But it depends on how you plan to do it and how you execute your plans. So, to make it easy for you, here are some points that’ll help you to get closer to your dream.

Find a need

The first thing you should do is set a goal for your business. Evaluate the needs of the mass. Know what they like, what they’ll buy or take from you. Don’t go after a particular product. Look for the need of people. You’ll find your way.

Design & build a website

Once you are fixed on your product or service, design a layout and put your product details on the website. If you are introducing more than 5–6 products, categorize them and make a separate web page so that it’s easy to get access to your products and services. Let them know what they are getting.

Use search engines to compel targeted buyers to your homepage

To turn search engines in your favor, you have plenty of ways. The easiest way to get traffic to your website is Pay-per-click advertising, otherwise known as PPC. PPC allows you to test various keywords, as well as different headlines, prices & selling approaches. Besides, a PPC ad shows up on the search page immediately. You can also distribute the keywords throughout the site in your copy & code, which would help your website rankings in the search results.

Establish an expert reputation

People will try to know about you before making a purchase. Provide the information they want to see. Communicate with your audiences over social media platforms like Twitter, Pinterest, Facebook, etc. This way, your website will get more attention from your customer and rank higher in searches.

Engage them in your services

Do some free giveaways. It will divert your buyers’ attention to the site and the more valued products. It will also let them believe that you care for them. Become active in the forum section on your website. Create regular blogs and posts.

Use Email Marketing

Email marketing is cheaper and more efficient than TV, Radio or print because it targets very effectively. Building an opt-out list can be the most valuable asset for your online business. Make sure to ask permission to send emails to your newsletter subscribers and customers. Include your gratitude and new products in the email.

There are plenty of options for setting up a new business. You just need plans and motivation to do so, and it’s easy to find. Just look at the entrepreneurs around. You’ll find your motivation and remember, it’s not late yet.