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Ashwin Chawwla : A Revolutionary Leader transforming Digital Escrow payments

Digital payments in UAE have experienced tremendous growth. With digital adoption ascending to its peak, the number of digital payment transactions grew at an annual rate of more than nine percent between 2014 and 2019.

Currently, with the increasingly digital-savvy population in the Middle East, the payments industry revenue in the UAE is expected to grow to $18.7 billion by 2031.

According to a new Boston Consulting Group report, revenues are expected to grow at a compound annual rate of 7.7% in the upcoming years.

With such whopping numbers, the business world needs to put its best foot forward and up its game. Helping small and medium-scale businesses along the way and paving an excellent road map ahead for smooth and secure digital transactions is the one-of-its-kind platform- Escrowpay.

The Hook

Moving contingent money across payment rails is still broken, especially if one of the endpoints is an emerging SME. However, in B2B, there was no platform enabling a feasible solution, so there was a great need to innovate. Hence, this real challenge needed a solution and that’s how Escrowpay was born.

Meet Ashwin Chawwla

A serial entrepreneur in wealth management with over two decades of experience. Ashwin is the Founder and CEO of Escrowpay . He is a passionate learner and an avid reader, who is keen on discovering new things and getting to learn from them.

Education and Career Deets

His education qualification includes: completed graduation from Delhi University, MBA in marketing from the University of Liverpool, executive education from Universoty of Texas, Yale University and Stanford University.

His career in wealth management spans insurances and real estate before etering payments in 2015. He started his career as a corporate insurance agent in 2001 with Tata AIG and Birla Sunlife then moved to global real estate in 2004. Ashwin has hit many milestones in his career. Some of the most lauded ones include, he has successfully closed over $3B in transactions on behalf of his clients. He was instrumental in bringing Coldwell Banker, an over 100 years old real estate brand to India.

He also closed the largest land deal in India of over $500 M way back in 2013 from where the escrow idea was seeded. Ashwin has also travelled with Prime Minister Narendra Modi to Germany. He is a member of three panels on entrepreneurship & technology with Confederation of Indian Industry.

Currently based in Dubai, Ashwin is onboarding a new banking partner for expanding Escrowpay in GCC. Understanding the need of the hour, Ashwin reckons that the payment industry and the development of a FinTech ecosystem are among the growth drivers of the future economy.

The Foundation of Escrowpay

One hot afternoon in Mumbai, two leading developers DLF and Lodha Group were struggling to close a $500M land transaction. Ashwin happened to advise both companies. While trying to find a solution, someone suggested ‘Let’s escrow” and that rang a bell and that is when the Escrowpay idea was seeded.

Every day small and medium-scale businesses struggle to get paid on time. Litigation with your client is never really an option.

So, one day while sketching the product, he realized that the puzzle in front can be stitched, and a solution can be offered. His company then tied up with largest banks in india. With such an effective system, businesses now can enable trust in their transactions for ‘collecting on-time to payments on-time’.

At Escrowpay, the team was able to digitize the escrow piece 100%. Today, it offers an escrow account nearly instantly. It is the first company in the world to successfully open escrow accounts on WhatsApp.

Additionally, the perks of having an escrow account certainly help to make investing in the primary market a lot safer.

Core DNA of Escrowpay

In the business world, small and medium-scale businesses are creating an impact and marking their presence. They are equally important as the large-scale business

Hence, Escrowpay is fully aware of the requirements of SMEs and hence supports such businesses to succeed. This is at the heart of what Escrowpay does, helping small and medium-scale businesses to hit milestones and accelerate growth.

Until recently, only the big players could enjoy escrow, However, with its latest technology now, it is making digital escrow available for everyone, giving SMEs the chance to get ahead and aim for higher and timely revenues.

It endeavours to make life better for an SME. It is focused on the growth of SMEs worldwide, by helping them collect and pay on time.

An Overview of Escrowpay

Its Indian Banking Partners

ICICI Bank, Axis Bank, IndusInd Bank, YES Bank & RBL Bank

Team

Escrowpay’s team handles escrows of over $1.5 billion and is a team that didn’t need “more money” to show PMF and growth

Problem

The problem Escrowpay is trying to solve is that banks today need 2-3 months in opening an escrow account with about 400 pages to sign.

Solution

Founded in 2015, ESCROWPAY is an all-in-one payment platform. Be its high-value, once-in-lifetime purchases, milestone-based transactions, long-dated sales, or even recurring regular transactions, the company protects the interests of stakeholders in all contingent-based transactions by creating a safe, secure, transparent, and smart digital escrow-centered ecosystem of payments. It has dropped the number of pages to sign to just 20. A platform with No hidden fees, No minimum balance, No ‘lock-in’, and No stress.

Better Experience

The need for ‘on demand’ trust in transactions is a booming business as businesses would always desire to collect and pay on time

Technology

Today, Escrowpay’s technology allows opening an escrow account faster than any bank in minutes, with complete checks and balances and the money in your account. Smooth, convenient, transparent, and delightful. It has married banking software as a service and API connectivity making transactions seamless and simple.

Product Suite covers:

Payment Gateway Services
Digital Banking Solution
Debit Cards
Trusteeship services
Identity checks
Digital signing capabilities
Digital ledgers
Digital escrow
eNach for recurring payments
POS business

Pivot

Escrowpay is today a digitally native business serving a large number of clients in different cities, no feet on the street, no DSAs, and no branches, and it offers an escrow account to every SME.

Why this – Discovering a Huge Gap in India 65M SMEs today run their businesses without an escrow account and run the risk of closure on account of delayed payments. As per an Ernst and Young report, $200 billion is stuck in delayed payments – A HUGE GAP in the 65M SME market

Why now – Digital transformation

When Escrowpay was founded a few years back, even the adhaar stack was not available. The company has walked a difficult path but continued to hold against all adversities. Demonitisation and all government initiatives for digitising payments like UPI stack etc has worked very well for Escrowpay.

In-house built technology

The platform build was completed in June 2020, taking all product development risks away from investors. In 2021, the team secured strategic partnerships, built white-label versions of the platform, and refined the application before achieving staggering results. While we all use payment gateway every day, Escrowpay is a ‘Digital Trust’ Payment Gateway.

Medulla – Escrowpay’s nerve centre

A powerhouse in the cloud helping onboard clients faster than ever. Backed by security protocols from AWS and Escrowpay’s proprietary algo, this is by far the biggest innovation Indian payments and banking industry has seen.

Awards

Technoviti Award, CII Innovation award, incubated by the US State Department and the University of Texas at Austin.

Key Insights about Ashwin’s Personal Life

Morning Rituals

Ashwin wakes up at 7 am, in the prayer room by 8 am. He starts his day by thanking the universe for all health, wealth, and happiness. He starts work by 8: 45 am, the meetings are largely online and have a great team to tide over all his requirements. Listening to music while working helps Ashwin relax and focus at the same time.

Favorite book

Rich dad poor dad

Favorite Quote.

“Failure is only when you quit”

Ashwin’s take on Women Entrepreneurs in Business

Women are great leaders and can build their empires as beautifully as they have built their homes. Ashwin has collaborated with some inspirational women in business.

Vani Kola from Kalaari Capital, Padmaja Ruparel from Indian Angel Network, Rema Subramaniam, Ritu Verma, Kamakshi Rao from Ankur Capital, and Vasudha Wadhera from Elevation Capital are some of the leaders in the funding space

Escrowpay’s Future Goals

As new specialized payment players bring the bigger picture to reality, the GCC will experience real-time advancements. Escrowpay is at the forefront of this opportunity including the CEPA deal which both India and UAE signed recently. With new and optimal solutions, Escrowpay aspires to become a blockchain-based fully digital bank for business owners with having global presence.

Don’t Just Save, Invest: The Ultimate Guide to Retirement Investment Plans

When it comes to planning for retirement, saving money is just the first step. While it’s important to have a savings account, relying solely on savings won’t be enough to sustain you during retirement.

Investing your money in retirement investment plans is the key to ensuring a comfortable retirement. With so many investment options available, it can be overwhelming to choose the right plan for your needs.

In this ultimate guide, we’ll explore the basics of investing, the different types of retirement plans available, and how to choose an investment strategy. Let’s dive in and start preparing for your retirement today.

Understanding Investment Basics

Understanding investment basics is essential before you start investing. Investing is different from savings, which involve putting money into a low-risk account or instrument. Investing involves putting money into a higher-risk vehicle with the potential for higher returns.

There are different types of investments, including stocks, bonds, and mutual funds. Each type of investment has its own risks and rewards.

Retirement Plans

Retirement plans are essential for building wealth and securing a comfortable retirement. Common retirement plans include 401(k), IRA, and Roth IRA.

401(k)

A 401(k) is an employer-sponsored retirement plan that allows employees to save for retirement through payroll deductions.

Contributions are made before taxes, and the money grows tax-deferred until withdrawn.

Individual Retirement Accounts

Individual Retirement Accounts (IRAs) are another type of retirement plan that people can open on their own. Majorly, there are two types of IRAs: Traditional and Roth. Traditional IRAs let investment be made before taxes whereas Roth IRAs allow after-tax contributions, but withdrawals in retirement are tax-free.

Self-directed IRA is the most common type of IRA where the account owner directs all of their investment decisions through self directed ira custodians or brokers. This gives the owner a high degree of flexibility in selecting investment options. Besides, choosing a self-directed IRA may also help cut down the fees charged since only the investor is involved in the investment transactions.

Choosing an Investment Strategy

Choosing an investment strategy is essential to maximize returns and build wealth over time. Factors to consider when choosing an investment strategy include risk tolerance, investment goals, and time horizon.

Risk tolerance refers to how much risk an investor is willing to take on in their investment portfolio. Someone with a high risk tolerance may be comfortable with investing in stocks, while someone with a lower risk tolerance may prefer bonds.

Investment goals should also be considered when choosing an investment strategy. Some investors may be focused on generating income in retirement, while others may be focused on growth.

Managing Your Retirement Investments

Managing your retirement investments is essential to ensure that you are on track to meet your retirement goals. Regularly reviewing and rebalancing your investment portfolio is crucial to ensure that it is aligned with your investment goals and risk tolerance.

Understanding the tax implications of retirement investments is also essential. Taxes can significantly impact the amount of money you have available in retirement. For example, contributions to traditional IRAs and 401(k)s are tax-deductible, but withdrawals in retirement are taxed as income.

Considering the impact of inflation on retirement investments is also essential.

Wrapping It All Up

Investing in retirement plans is crucial to ensure a comfortable retirement. By understanding investment basics, choosing the right retirement plan, and developing an investment strategy, you can maximize returns and build wealth over time.

Regularly managing your retirement investments and considering tax implications and inflation can help you achieve your retirement goals. Don’t just save; invest in your future.

Romina Guglielmetti: Innovative Businesswoman, Administering Success in Corporate and Commercial Law with Starclex

Revolutionary indeed, both Romina Guglielmetti and her venture, Starclex, continue to set the pace in the legal industry while breaking new ground and innovating world-class solutions.

Today, Starclex holds a significant position in the market as a name associated with a company offering excellent service in all areas of business and commercial law. The Starclex team, which consists of knowledgeable professionals from various industry sectors with a strong international background and exceptional skills, continues to put in the effort and make a name for itself in the sector by providing support that is supported by its extensive industry knowledge, which is well-known in the Italian and international business community.

Headquartered in Lombardia, Italy, and under the supervision of Romina Guglielmetti, who founded the company in 2013, Starclex specialises in providing ordinary and exceptional support to listed and non-listed companies in the fields of corporate and commercial law, corporate governance and compliance, banking and financial law, internet law, intellectual property, and innovative start-ups and SMEs. Emerging in the legal space, Romina Guglielmetti’s privately owned law firm has been dealing with complex issues every day, developing innovative solutions to meet the needs of the customers.

The visionary leader

Romina Guglielmetti, Founding Partner of Starclex, is a lawyer with expertise in corporate governance, corporate law, banking, and capital markets law. In addition to lecturing in university courses and master’s programmes with a corporate governance focus, she has developed substantial competence in advising listed and private organisations in several business sectors. She was a founder member of Starclex in 2013, and from 2007 to 2013 she served as a partner at Studio Santa Maria; from 2000 to 2004 she was a senior associate at Studio Legale Bonelli Erede Pappalardo (now BE); and from 2004 to 2007 she was of counsel at Studio Notarile Marchetti.

The inspiring lady was also involved in the corporate governance of financial institutions, listed companies, and state-controlled businesses, with a focus on control systems (at the individual and group level), succession plans, related party transactions, and the appropriateness of the composition and operation of boards of directors.

Sharing more about her persona and goals, the magnificent woman asserted, “I would like to be remembered for professionalism and competence, together with the capability to assist clients in complex operations (M&A, IPOs, takeover bids), or in delicate corporate governance issues. “I would like to be remembered for the capacity to combine, with a tailormade approach, the experience I got in the professional and academic field with the experience I gained as a board of directors and control member of primary listed companies, operating in different sectors (e.g., Enel, Italgas, MPS, Tod’s, Compass Banca, ITA Airways, Fondazione Milano-Cortina 2026, Pininfarina, Dea Capital Investment Funds SGR, etc.).”

The Exclusive Service Portfolio of Starclex

The young and dynamic law firm, with high technical skills and united by a deep passion for their work and for legal Starclex, deal with complex issues every day, developing innovative solutions to meet the needs of the customers on the following issues:

Ordinary corporate matters: helping boards and other company functions with governance issues, compliance and control systems, and developing, analysing, and restating bylaws, internal policies, and regulations (such as compliance, control, and internal dealing procedures, ethical codes, and the structuring and functions of board committees).

They support publicly traded businesses with regard to the legal and compliance aspects of their interactions with shareholders and regulatory bodies, with a focus on the accuracy, completeness, and coherence of their communications to the market and to oversight bodies. In dealing with the Bank of Italy and Consob (in relation to extraordinary corporate operations, regulatory penalties, etc.), structuring their control and governance procedures, dealing with fit and proper tests, and board evaluation processes, they support businesses and financial intermediaries.

Starclex specialises in assisting governance bodies with planning and recording meetings, providing legal advice, and, more broadly, advising businesses on difficult corporate decisions (public market transactions, situations involving conflicts of interest, transactions involving correlated parties, etc.); extraordinary corporate matters: advising companies and financial intermediaries on complex extraordinary transactions such as IPOs, tender offers, M&A, spin-offs, and demergers.

The Strong Clientele

The clientele that can benefit from Starclex’s service includes Italian and internationally listed companies as well as private firms in every phase of their companies’ lives. Additionally, Starclex offers legal assistance to businesses, banks, financial organisations, and groups during board and shareholder meeting activities. This assistance extends even to businesses with control system profiles.

In fact, Starclex’s goal in assisting clients is to foster a cultural evolution so that the obligations imposed by industry regulations are not perceived as mere bureaucratic burdens but rather as tools for creating value for the company and all its stakeholders. The company helps businesses both before and after they list, offering a variety of qualified services spanning from daily assistance to the organisation of board and shareholder meeting proceedings, from extraordinary transactions to relations with the authorities and the market.

Standing at a Distinctive Stance in the Legal World

With years of expertise in intricate, global operations and a thorough understanding of the Italian market, Starclex is a dynamic reality that can provide its clientele with a flexible, constantly-evolving approach. Starclex works in full judge independence to provide clients independent assistance and supplies finalised consulting services to the client’s objects and needs. Associated with in-depth knowledge of the issuer and its management, this perspective allows the team to be ready and effective in assisting the client in ordinary activities, in structured capital transactions, or in the acquisition of complementary third-party companies that are strategic to the growth path. Several businesses have asked for the continuation of the collaboration relationship with our company, in part due to the strong bond of confidence that has been established.

The Latest Tech Evolutions

Starclex is adapting to the changes in its market sector, which is distinguished by a significant amount of competition, by investing in young, motivated personnel, valuing unique attitudes and competencies, and enhancing the client’s approach in terms of professionalism, service accuracy, dedication, costs, and the sensitivity of new technologies.

Talents and diversity Valorization, flexibility, and digitalization are aspects that have an impact on the sustainability of legal firms, and Starclex, although a specialised boutique, is spotting emerging needs in the legal consulting sector that may be of interest to its clients even in the future.

Overcoming the Hurdles

Along the Way The major challenge to face has been to establish itself on the market. Starclex is a young company that was founded by my partner Carlo Riganti and Romina when they were only thirty and forty years old, respectively. As a result, it took a lot of energy to gain the trust of clients, expand the network, and be able to generate the money needed to invest in structures and sources quickly. Being a woman was initially a possible disadvantage, but this has been greatly overcome.

Future Outlook

When questioned about her future ambitions, Romina stated, “In the coming years, I will see myself committed to consolidating and further enhancing our outcomes, both in terms of business and in terms of developing the firm’s structure, confronting more worldwide perspectives.”

“From a personal standpoint, I wish to make up for my family’s tolerance by giving it more time. They have always supported me in my decisions. I have always been fascinated by the idea of striking the appropriate balance between work and family, and I have never done so unless it was absolutely necessary.

Chaos: Changes in business strategies

The two words you have not stopped hearing in 2023 are recession and layoffs. 2022 was a year of recovery, post covid many businesses started doing better then the previous 2 years and recovered their losses apart from raising prices and improved profits. But this recovery was short-lived.

In the past 3 years of Covid and the recovery year, we have seen disrupted demand and supply chain connectivity affecting established manufacturing and delivery cycle time for every industry. Just an example was the pharma industry which was in demand overdrive for vaccine and certain drugs while and the China sourcing strategy came under pressure due to restricted supplies of API and containers being stuck in China. These challenges led to chaos as there were no quick solution in sight when dealing with such global issues.

Organisations had to get ready to tackle their challenges, that too while sitting at home. As no situation is permanent – good or bad – the challenges reduced with industries and government jointly tackling these issues. Many existing businesses did come under huge risk of closure: hotel, tours and tourism, airlines etc. What also changed for the better was adoption of ecommerce and many businesses which were online. However once the covid threat was over many of these opportunities changed into risk as startups in edutech, telemedicine or remote working became unnecessary. The software industry which was happy to work from home with reduced overheads faced new challenges like moonlighting.

Post covid, the war in Ukraine has now lasted for over a year. Leading to oil and gas supply crunch followed by higher fuel prices due to sanctions and Europe is now forcibly investing in building new energy source and resourcing alternate energy.

If this was not enough, recession clouds have started gathering and businesses are already acting to reduce expenses, cut jobs and stop new investments. A new blow from technology has been the AI based AI tools like CHATGPT which are challenging many professions to do a lot better or be redundant.

One thing is certain, business stability is a luxury of the past. This has challenged most businesses to create new opportunities to de-risk the future by developing alternatives strategies to grow their existing business or expand into new areas. No board is comfortable with the “As Is”, as mortality rate of businesses has increased.

Considering the above challenges it would be crazy to lead an organisation. One could say the situation is chaotic and the businesses are in chaos.

Chaos doesn’t mean the existing business doesn’t work but only requires constant attention and quick reaction to changes. One has to be fast to control the damage if caused by any situation and make gains with what works. But that’s living in the present, how do we deal with chaos for the future.

Dealing with Chaos

Reskilling to beat redundancy. What you learned in college you hardly applied in your job and mostly what you have learned on the job is not relevant for the future. Managers have to learn new skills, this was earlier required only in the case of IT companies when new languages, software and hardwares were launched. But today simple coding and design can be done on AI based software. Marketing as a function is moving from conventional to digital, sales is now being challenged with data analytics and customer buying patterns. Logistics & supply chain is evaluating moving continents to source along with last mile connectivity. HR which was busy with payroll and industrial relation is realising how important is it for them to influence business productivity with learning and development, and driving cultural & performance changes through mentoring.
Short planning cycle and risk taking. A lot of new projects will need to be done startup style, a company will need to take risks without committing huge funds at the start while it gets the proof of concept verified. Large organisation will need to be nimble on their feet and respond in real time. Needless to say companies need to be nimble on it feet and develop start up teams with a culture to perform. As today they are losing large business to startup. With advent of online buying and it meteoric rise, D2C companies have challenged the extensive distribution structure of large corporates and taking away their business. Size doesn’t matter any longer. The large corporates have to now relook at their business as entrepreneurs.
Identifying blind spots in current business. Many businesses have been done conventionally and whether its competitor ‘A’ or ’B’ they all work on the same systems, customer feedback and application and have the same assumptions thus the products look similar as they are aping each other. When you work with a set of un questionable assumptions you are probably missing a blind spot. These blind spots can be revealed by getting a new perspective with business diagnostic techniques else get in people from different industries to run or evaluate your business. A common change use to be getting in people from B2C industries but today even the B2C industries have become staid and commoditized.
Investing provided you have a lot of cash, this could be a good time to buy out companies which could compete with you in the future or those who would define the future of your business. A buyout at a good price is another way to grow exponentially. However, there would be cultural challenges which may need to be managed.
“Jugaad”, an Indian term for a quickfix or frugal innovation or hack. This is suggested for situations, a challenge which exist in the short term, but may not persist long. Or for symptomatic challenges. One needs to be innovative while solving temporary issues or issues which may not require a lot of changes in systems and approvals. As some of the issues may not arise again.
Cut costs on projects which do not a have a definite return expectation or exist low profit products which are not reengineer able by hiving them off.
Transform your business re look at the business on what segments are we missing out and what opportunities are we failing to address. Are there opportunities in B2B or B2C, or new markets or un-addressed price segments. This is a way of redesigning your organisation to cater to customer satisfaction. How can we deliver customer delight through mapped customer journey and monitor each and every interaction with the company, its products, people, intermediaries and service.
Digitisation is a process of enabling your business to be data driven rather than work on gut feel. Every decision is based on data for which one needs a robust system on which will reside an ERP, sales automation, logistics, digital advertising, lead management modules as may be required and all these should talk to one another i.e. be compatible. It’s a long process starting with cleaning the data followed by data analytics. This can help identify internal challenges before they happen as well as gain customer feedback for a changing future.

These are just a few ways of managing chaos, of course, depending on the industry and product life cycle there could be more ways to manage chaos. While for the unforeseen.

– By Vineet Trakroo

CEO and Chief Evolution Officer

Evolution Strategy Advisors LLP

Ran Rachlin: An Ardent Leader with a Magnificent Mindset, Spearheading Ubertesters to Deliver Excellent Testing Solutions

“The way to get started is to quit talking and begin doing.” By Walt Disney

Tycoon Success is back with another story of ‘scratch to success” – by introducing our readers to Ran Rachlin, Co-founder & CEO, of Ubertesters.

An accomplished, multi-talented senior executive with extensive global experience in developing and managing innovative initiatives from conception to implementation, making major sales, and directing large global businesses across different nations and industries. Ran is a hands-on business owner and leader with excellent sales and management abilities and an ideal example of strong will and dedication.

Spearheading as the CEO, Ran is the man behind the victorious journey of Ubertesters, embarking on a successful journey to deliver the best software testing solutions. Ran held a number of prominent management positions in P&L, general management, and operations before founding Ubertesters. Together with remarkable performance in deal negotiating and closing in any business environment, he possesses tremendous expertise in sales and marketing, strategic business planning, new business creation, market analysis, and strategic alliances.

Sharing what empowered his inspiring journey, the visionary leader stated, “My travels throughout the world and the fact that I spent more than ten years in a different nation molded my cross-cultural experience. Additionally, having managerial positions in large international organizations has given me the required knowledge to oversee both foreign clients and international teams throughout the globe.”

“Surviving the global economic crisis of 2008 while guiding my organization to a “safe harbor” was another significant step. This gave me insight into how to ensure that businesses survive a recession (like the one we are currently experiencing,” he continued.

Ubertesters and its Exclusive Service Portfolio

“We help our clients sleep better knowing they can launch their digital product with confidence, convinced it was well tested by real users in their actual target market and it’s bug-free.” – Ran Rachlin

Incorporated in 2014, Ubertesters is the pioneer in crowd-testing or on-demand software testing. The program enables businesses to use remote, globally validated testers with devices only when it is necessary to outsource the power of the public for their own digital testing or QA needs.

Ubertesters offers a platform that connects businesses with a global network of professional testers who can perform various testing tasks such as functional testing, compatibility testing, security testing, and more. Ubertesters aims to assist companies in enhancing the quality of their software and providing their customers with high-quality products.

The main advantages of employing crowd-testing for businesses are access to a sizable and varied tester pool, lower testing expenses compared to traditional testing methods, and a speedier time-to-market because bugs are found and fixed more quickly.

The Initial Setbacks, Ubertesters Suffered

In the beginning, the team experienced two significant difficulties. In order to succeed, they first had to outperform a single industry titan by offering a special value proposition. The second issue was how to create a sizable global network of QA specialists who matched the description and were eager to test in their spare time for extra cash.

Ubertesters have to give customers more value in order to get past the first obstacle. So, they made the decision to develop a “boutique” style of service that provides more distinctive and tailored testing solutions along with excellent and attentive client support. They overcame the second obstacle by heavily utilizing social media and paying the testers slightly more than their rivals did and much more quickly.

Healthy Work Environment: UberTesters’s Focal Point

Innovation and creativity must be encouraged if a business is to succeed. Setting a clear vision and objective for the organization is a first requirement. Encouraging open communication is the second. The intention is to foster an atmosphere where everyone feels at ease offering recommendations and thoughts.

Every time Ran gets new, creative suggestions from staff members that help the business succeed, he acknowledges and rewards creativity. He first celebrates the concept privately with the employee before doing so publicly through an announcement to the entire organization. He also provides a financial award. He is a proponent of setting an example. He makes an effort to showcase his own originality and inventiveness. Ran does his best to demonstrate his own creativity and innovation. This can help inspire employees and create a culture where everyone feels empowered to contribute their unique ideas.

Surmounting Entrepreneurial Hiccups

The high-tech industry is characterized by rapid innovation, constant change, and intense competition. There are two major challenges: rapid technological change and talent acquisition and retention.

Technology is evolving rapidly. To keep ahead of the competition, businesses must constantly develop and upgrade their products. Yet doing so also necessitates a substantial investment in engineering, which may be costly and dangerous. Second, there is fierce rivalry for talent in the tech business, which demands highly qualified staff with specific knowledge.

Painting Ubertesters’s Future Canvas

The inspiring CEO envisions himself developing his business through innovation, creativity, and the “voice of the customer” over the coming few years. He also wants to establish a new business to discover a product that will benefit society by extending life expectancy and enhancing the quality of life.

From a personal perspective, Ran focuses on improving his work-life balance. This can be done through better time management and boundary settings.

Words of Wisdom for Aspiring Entrepreneurs

Start with a solid plan and take care of your team. Before starting your business journey, it’s important to have a solid plan in place. This plan should have a distinct vision for the company, a target market, a business model, and a strategy for long-term financial viability. Without such a plan, it will be impossible for you to assemble a solid team. Then, build a strong team with complementary skills and values, and provide them with the support and resources they need to succeed. The business world is very dynamic. Be willing to pivot your business strategy if necessary and be open to new opportunities.

Jennifer Marcus: Assisting Small Business Owners to Operate their Businesses in the Most Cost Effective Way

Jennifer Marcus is a highly sought-after entrepreneur, youth keynote speaker, and empowerment coach. After earning her master’s degree in Accounting and Finance with honors, Human Resources Management, and MBA from Keller Graduate School of Management, she went on to work for a couple of accounting firms before establishing Marpalms in 2016. In addition to owning Marpalms LLC, Jennifer is also the CFO of Tour Décor and co-owner of Beau Diamante LLC, CEO and President of You Can be You, Owner of Jepriv Fashion, Paint Me Sassy, One Winged Incorporated, Marcus Brands Incorporated, One Winged Steel, One Winged Studios, One Winged Speaking, One Winged Literature, One Winged Presentations, Jennifer Marcus LLC.

Since childhood, Jennifer has tackled racism, physical and emotional abuse, and child abandonment. These life experiences eventually created expectations that nearly exceeded her abilities, such as finding employment to pay rent while being a full-time student at thirteen. Unfortunately, at this point of time, Jennifer’s mother also suffered from drug addiction and used the household’s limited income to feed her drug habit.

At fifteen, Jennifer reached a pivotal stage in her life after moving to California with a few older friends. She was then shot in a random drive-by and immediately taken to the hospital. While lying in bed, attached to several monitoring devices, Jennifer thought she deserved much better. Upon her exit from the hospital, she immediately set a course to be on the right path and got involved in sports programs, clubs, and other initiatives that helped her to use her time wisely. These decisions eventually developed her self-confidence and led to a range of achievements, including earning three master’s degrees, owning twelve successful businesses, and identifying her purpose to make an impact on youth and students internationally.

In 2016, Jennifer founded Marpalms, which has since grown into a sophisticated business providing much more than simple bookkeeping services. Proud of the educational focus of her company, Jennifer is incredibly enthusiastic about the consulting work and the relationships she builds with other individuals and organizations. Jennifer is an open book of tools and strategies which can be used to improve efficiency, be successful, and effectively empower small business owners. Jennifer’s philosophy is to offer the highest quality services at affordable pricing.

Finding Opportunities

While working for other accounting firms, Jennifer noticed that entrepreneurs and small business owners were struggling and being taken advantage of. They were being charged exorbitantly for bookkeeping and accounting, which they couldn’t afford. Although they needed the help but were spending everything they had, leaving nothing to grow their business further. So, many would go out of their businesses for lack of capital.

So, she formed Marpalms in 2016 to give those businesses a greater opportunity to grow while still receiving the needed service.

“If you’re going to live, leave a legacy. Make a mark on the world that can’t be erased”- Maya Angelou

“Marpalms is built on the philosophy that we try to start with our clients early and set the fees so that they are affordable. As the client’s company grows, the fees increase, so we grow together. Doing this leaves more money in their business and, in turn, creates a long-term partnership versus a company out of business and a client lost,”- Jennifer explained.

She also went ahead and started Jepriv fashion, offering clothing at a price that everyone could afford. Later she opened Beau Diamante, offering both fine and fashion jewelry, Paint Me Sassy carrying nail wraps and nail supplies, One Winged Studios offering a podcast studio, a video studio, and a photography studio under one roof.

When the Going Gets Tough

Jennifer feels the main challenge she has faced in the Accounting and Bookkeeping industry is not being taken seriously. Several larger firms have questioned her abilities, as her fee structure is different than others, that she loves to work with new businesses, that she does not take any of the large companies, and that she will not conform to the way that they want Jennifer to run her company. However, she prefers to operate her company in a way that can cater to those that others do not want to take care of, those that need the services the most to grow their businesses and thrive.

“If you can dream it, then you can achieve it. You will get all you want in life if you help enough other people get what they want.” – Zig Ziglar.

“Honestly, when it comes to business, I do not think that I have had many roadblocks related to being a woman. I think this is because I don’t let them bother me, and I refuse to let them deter me from helping others and staying on the path set forth,”- she said.

As we all know, the pandemic had many major effects on all businesses worldwide, and Jennifer’s businesses were no different. Her retail businesses almost completely came to a halt, and there was a massive drop in her clients, as they no longer had their businesses or could not afford services. Jennifer and her team worked with her clients in any way they could.

“Luckily, when it came to my retail businesses, I was able to ride it out and withstand. This is because years ago, I decided that when I started a business, I would ensure that I had enough money to pay for the inventory, the costs, and any other fees that are not just basic day-to-day. By doing this, I had no expenses, allowing my companies to hold tight until sales started coming in again,”- Jennifer remembered.

Future Priorities

In the future, Jennifer seeks to grow her business with the addition of the nonprofit You Can Be You, continuing to speak to business owners, entrepreneurs, and individuals to help them create and maintain their own business empires. She plans to do this through public speaking, podcasts, and educational classes. In addition to those projects, Jennifer will also continue to speak with high school students regarding the importance of choices, their ability to make decisions, and that regardless of background, where they came from, or what they have been through, they too can make choices that can set their life on the path towards the future they desire.

Advice for Future Leaders

As a serial entrepreneur, youth keynote speaker, and empowerment coach, Jennifer advises future business leaders that they should not give up. She says, “I know that it seems insignificant and redundant but never give up. No dream, no goal, no job is too small. I started out working for others now; I stand here with three master’s degrees, twelve businesses, one nonprofit, and a passion and fire not only to teach others but to ensure that they are also able to inspire and teach others.”

Henry Lukenge: Helping you Find the Perfect Caregiver

Healthcare staffing companies provide temporary and permanent staffing solutions for healthcare facilities, including clinics, hospitals, long-term care facilities, and other medical institutions. These organizations specialize in recruiting and placing healthcare professionals in various roles, including registered nurses, physical therapists, medical assistants, etc.

Founded by Mr. Henry Lukenge in late 2009, NEXIM Healthcare Consultants Inc. is one such countrywide provider of contingent, planned, and un-planned health and social care staff to hospitals, community living organizations, families with individuals who have developmental delays, and homecare through its Retire@home program for seniors retiring at with their homes. Other value-added services Nexim Healthcare provides include, but are not limited to, call assurance, home modifications to enable elders to stay in their homes, non-ambulatory transportation, and wheelchair-accessible transportation.

The Steadfast Leader

Born and brought up in a family of entrepreneurs, Mr. Lukenge has seen his father run one of the first indigenously owned construction companies in Uganda during the mid-70’s. Initially, Mr. Lukenge worked at his father’s construction company and learned various skills.

In the late 80s, he moved to England with his eight siblings and parents after surviving the conflict and displacement from Uganda. Mr. Lukenge completed his high school in England and joined the University to study Mathematical statistics, a career he had little interest in, but with limited command of the English language, his choices was limited. Later Mr. Lukenge went back to school for the professional accounting exams at the Association of Chartered certified accountants-UK- which combined his great love for numbers, problem-solving, and people engagement. With his outstanding performances in the CA program, he was then hired to join the articling program at one of the Big 4 Accounting firms in the U.K. Eventually, he rose through the ranks to become a junior tax partner – leading larger tax compliance, audit, and financial risk analysis projects across Europe, South East Asia, and Africa before being headhunted for an investment banking role in Canada’s one of the largest Trust Funds as a Director of Investor Services.

So, in 2006, Mr. Lukenge relocated to Canada. He served the Trust Fund for nearly three years until he got disillusioned and unhappy with his career and decided to walk away from the finance and accounting industry to start his own business.

Initially, Mr. Lukenge wasn’t sure about the nature of his new business. So, he took his time out and visited his mother in Kampala, Uganda, who advised him to set up a healthcare staffing company focused on providing thought staffing solutions to help leading sector players in the health and social care sector fulfill their staffing needs.

Eventually, in late 2009 Mr. Lukenge returned to Toronto, sold all of his real estate, prepared a business plan, and established NEXIM Healthcare as a business.

Revolutionizing Healthcare Staffing

When Mr. Lukenge founded Nexim, he wanted to create a company that would revolutionize the healthcare staffing industry while using some of its net income and technical expertise to advance access to education, wildlife conservation, and the fight against climate change in the third world. Mr. Lukenge’s life journey began in Iddi Amin’s Uganda, East Africa via South Africa where he overcame apartheid and a refugee camp to become a CA, enter the largest board rooms, and achieve the enormous success he never imagined possible because he was able to attend school when the majority of the children he was displaced with failed to do so. This is one of the main reasons why Mr. Lukenge established NEXIM more than a decade ago. Through NEXIM, Mr. Lukenge offers internships to inner-city kids who are starting their careers and have no places to find internships, so they don’t have to go through what Mr. Lukenge went through when starting his career in 1990s South London, England

“The day NEXIM Broke even is the milestone I’m most proud of, but my greatest career achievement to date was the day I retired from my career as an Investment Banker leaving a whole life to start a new one. Best decision I have ever made in my life.”- he states.

Primary Challenges of the Healthcare Industry

As NEXIM Healthcare’s founder, Mr. Lukenge always prefers to call challenges opportunities for growth. According to him, the primary challenges lie in the lack of qualified and employable candidates and longer wait times for internationally educated healthcare professionals to be integrated into the Canadian healthcare system because there are no updated and precise professional competence requirements for IEHPs entering the country. Also, the incompatibility between the provincial and federal immigration policies with healthcare professionals’ credential accrediting organizations and the less than adequate supply of amenities like transit and short-term rental units in the hard-to-serve areas of the provinces poses a significant challenge for the industry.

However, Mr. Lukenge and his team at NEXIM are working with all levels of the government, professional accrediting agencies, hospitals, and various stakeholders to help capitalize on these opportunities. Presently, NHCI is setting up its own private career college with a focus on controlling access to training opportunities for healthcare staff and helping with faster integration of IEHPs into the labor force.

NEXIM is also working with the government and other professional accrediting organizations to simplify protocols so IEHPs coming to Canada can be granted shorter wait times to appear for the practice compliance tests. Additionally, with its facilities management unit, NEXIM is building a unique ecosystem consisting of short-term accommodation, site-to-site transportation, and several other amenities for staff who are willing to relocate for projects in hard-to-serve areas. In the process, the organization has created an entirely new business unit through which it has built a substantial real estate portfolio for its stakeholders while providing reliable services to its clients.

“Our vision is to become a leading healthcare manpower planning leader across North America through a combination of local and international healthcare human capital talent acquisition, placement, and career development in partnership with public, private, and Inter -government stakeholders,”- Mr. Lukenge explains.

Assisting Clients During the Pandemic

Overall, the pandemic proved advantageous for NEXIM and gave the business an ideal balance of risk and reward to expand its services. During the pandemic, NEXIM Healthcare grew its service area to the entire province and became a province-wide provider of its services. Due to its ability to combine lodging, site-to-site transportation, and the creation of isolation hubs for staff supporting various clients, NEXIM Healthcare quickly established itself as the go-to business for anyone in its region experiencing a COVID-related staffing crisis.

“Through earlier preparations and a solid business plan that prepared us for the pandemic without us actually knowing it was coming, our operation and logistics units fit perfectly in the country’s drive to lower community spread; hence we experienced rapid growth and grew our business by 150% year vs. year during the pandemic,“- remembers Mr. Lukenge.

Building An Unique Ecosystem to Support Remote Regions

With the help of Mr. Lukenge’s visionary leadership, NEXIM has become one of the very few healthcare staffing firms that have created a distinctive ecosystem to support organizations in remote locations with third-party staffing services without passing on high costs for short-term stays and logistics. NEXIM assists its clients in reducing their costs while still maintaining margins for itself by combining its expertise in real estate, vehicle fleet management, and management services.

NEXIM is one of Canada’s very few 24/365/7 days completely staffed healthcare staffing organizations. It provides seamless scheduling, intake, and timesheet tracking via a technology suite that combines scheduling, payroll, and accounting into one. This enables NEXIM’s clients to monitor staff on shifts from the comfort of their homes to the site with digital time cards used for payment and invoicing.

Looking at The Future

Presently NHCI is diversifying around its core services of providing third-party services to the healthcare industry. NHCI is also planning to set up a countrywide PCC network to help train both social and healthcare workers and to help quickly integrate IEHPs into the Canadian labor force.

Also, through NEXIM’s philanthropic program NIDO, Mr. Lukenge intends to increase the number of scholarships for East and South African students to 10k yearly. Presently, through its 4E framework, NIDO provides scholarships to 400 students. Additionally, through the NIDO program, Mr. Lukenge aspires to help healthcare organizations with their international healthcare staff recruitment plans while helping them craft faster integration protocols for IEHPs.

“We are taking NEXIM Canada-wide though remodeling a dilapidated commercial unit which we are equipping to become a large Hub in the city of Hamilton, which will contain operations, shared services, and logistics unit hired based on the different time zones In Canada ,”- he says.

Entrepreneurship is a Game of Patience

Mr. Lukenge believes entrepreneurship is a game of patience, persistence, discipline, and comfort in loneliness; for the most part, an entrepreneur will work alone toward a business and idea. So, he suggests that young entrepreneurs should never forget it’s a long journey whose results can even take years to manifest, so when things do not work on their time, they should not despair.

“For those starting out, I can say that– our society or world has many needs or problems; find a way to solve one at a price that few can beat and let everyone know about it. Be disciplined and patient in a delay while working hard but find time to play. Remember to bring as many people with you as you can. The rest will take care of itself,”- he concludes.

Navigating The Tax Maze- 5 Blunders Entrepreneurs Should Avoid

Taxes are painful, business owners, but you’ve got to pay them to prevent hassles. Did you know that the IRS collected more than $4.1 trillion in taxes in 2021? And the number increases every year. That sounds gross, right?

And as a business owner, you must do more than file returns and pay your taxes on time. Steer clear of mistakes as you don’t want to leave any money on the table or face penalties. But let’s face it, entrepreneurs; navigating the tax maze can be confusing, overwhelming, and downright scary for newbies.

But don’t worry guys, we’ve got you covered with a list of common blunders you need to ditch to stay safe and keep your business on the right track. Here you go!

Blunder #1- Mixing personal and business expenses

Well, it is common for small business owners to use their credit cards for buying things for business and paying company bills. But it’s a recipe for disaster, guys. You may find yourself struggling to keep track of your business expenses in the first place.

Even worse, mixing expenses can raise a red flag with the IRS, which is the last thing you want to deal with. Use separate credit cards and maintain separate bank accounts to draw the line.

Blunder #2- Not maintaining accurate records

Not maintaining accurate records can surely land you in big trouble with the taxman. Failing to keep detailed and correct records of your financial transactions sets you up for potential errors in tax reporting.

Additionally, you may end up missing deadlines and facing penalties. The solution is simple- just stay ahead of records and keep them organized.

Blunder #3- Going without a strategy

Well, going without a strategy is another mistake you should avoid as an entrepreneur. For example, it makes sense to pay estimated taxes throughout the year instead of leaving them until the last minute. The massive expense may stress you out and topple your startup budget.

Why not rely on proven Tax Planning Strategies to navigate the journey easily? You can collaborate with experts to show you the way and help you stay afloat despite the challenges.

Blunder #4- Misclassifying workers

Misclassifying workers can lead to serious legal and financial trouble. If you’re hiring freelancers or independent contractors, classify them correctly for tax purposes. Misclassifying permanent workers as independent contractors can lead to hefty penalties and legal issues.

So, do your due diligence and classify your workers correctly. It can save you from big problems down the line!

Blunder #5- Not making the most of deductions and credits

Are you making the most of valid tax deductions? Are you claiming the credits you are eligible for? If you’re missing out on either of them, it’s time to reassess your plan. As an entrepreneur, you can explore plenty of legit deductions and credits.

They can lower your bills and help you keep your hard-earned cash. Research thoroughly and take advantage of all the deductions you’re entitled to

There you have it, folks. You must absolutely ditch these tax blunders as an entrepreneur. These mistakes can cost your business a bomb, but a little awareness and planning are enough to stay ahead of them.

Business simplified; 4 ways to help you expand your business

Growing your business is one of the most exciting and rewarding endeavors you can undertake. It requires careful planning, strategy, and implementation to ensure success. By exploring the possibilities of expanding your business, you can open up new opportunities for growth and profitability.

With the right strategies in place, you can increase your customer base, reach new markets, and make more money. In this article, we will discuss some key strategies for expanding your business and how they could help you grow your business even further.

Strategy #1 – Expand Your Reach Through Online Marketing and Social Media

For small businesses, online marketing and social media can be powerful tools to expand their reach and get the word out about their products and services. With the right strategy, small businesses can use these channels to build an engaged audience, increase brand visibility, and drive traffic to their website.

The key is to develop a comprehensive online marketing strategy that includes tactics such as SEO optimization, content creation, email campaigns, paid to advertise, and more. Additionally, it’s important to leverage social media platforms like Facebook, Twitter, Instagram, and LinkedIn as part of your overall digital marketing plan. By doing so you can engage with potential customers in real time and create meaningful relationships with them.

Strategy #2 – Focus on Building Relationships with Your Customers

Building relationships with your customers is essential for any business. It helps to create loyalty, increase customer satisfaction, and ultimately leads to increased sales. Customer engagement strategies such as customer loyalty programs and customer relationship management software can help companies achieve this goal.

These strategies can help businesses get to know their customers better, understand their needs and preferences, and provide them with personalized experiences that will keep them coming back for more. With the right tools in place, businesses can build strong relationships with their customers that will last for years to come.

Strategy #3 – Expand Your Business To The United States

Expanding your business to the United States is a great opportunity for growth and success. With an E2 visa, you can live and work in the US while running your business. There are many benefits to expanding your business to the United States, such as access to a larger market, more resources, and new opportunities. Many entrepreneurs are shifting their base to Georgia since it is quite a lucrative business field. Many people are heading to Marietta in order to expand their businesses. You can search for immigration lawyer marietta ga in order to help you find the right lawyer to get an E2 visa. These strategies can help you make an international impact on your business.

Strategy #4 – Invest in Automation To Increase Efficiency and Productivity

Automation is becoming increasingly important for small businesses looking to increase efficiency and productivity. Automation tools can help streamline processes, reduce the time spent on mundane tasks, and free up resources to focus on more important aspects of running a business.

These automated processes can be implemented with a range of automation software, from simple task automation to more complex process automation. By investing in the right automation tools for your business, you can save time and money while improving efficiency and productivity.

It is important to understand the different ways through which you can expand your business. Use this service by Markup to help you boost your business internationally.

Mário Leite da Silva: Assisting Clients in their Specific Business Problems

Mário Leite da Silva began his career in the banking industry and the assurance division of one of the Big 4 corporations. He has twenty-five years of experience, 15 of which were spent in top management positions with numerous industrial companies, business family offices, and financial institutions in several nations, including several listed companies on the stock exchange.

Mário was also an experienced university and post-university planning and management control professor until February 2020 and a member of the General and Supervisory Board of Porto Business School till April 2019. Mário also has extensive experience as a member of risk, audit, finance, and remuneration committees.

In 2020, Mário realized it was the right moment to launch his consulting project with an unequivocal and differentiated market position focused on value creation for his clients and not a mass market consulting company fighting on daily rates and with junior consultants. This led to the launch of PTCG, an independent management consultancy boutique that assists clients in their specific business problems related to planning, management, and control, change management, strategic planning, corporate finance, restructuring, project management, and specific challenges arising from family businesses. PTCG has the skills of a large management consulting company without its cost structure, so the company believes it can offer a highly competitive proposal with total flexibility to its client’s needs.

Rethinking the Way of Doing Business

PTCG operates in a reasonably relaxed work environment, and its team members get along well with each other. As part of its process of rethinking how it does business, the organization also promotes the introduction of fresh ideas and carefully considers each suggestion.

As the organization’s founder, Mário believes diversity and inclusion are essential topics not because they are now on the business leaders’ agenda but because they effectively increase the results of the companies. “It’s one of the topics that today, as members of some HR committees, we work more carefully given the cross-cutting impacts it can have on our organizations,“- he explained.

Creating Value for Clients

Since its inception, PTCG has grown a client base that recognizes the value that the company creates in each assignment independently of the experience of the promoters. “This is something special. To realize that the initial vision was right and that we can have a direct impact on our client’s portfolio, our teams, and our community,“- Mário said.

Looking at the Future

Under Mário’s leadership, PTCG wants to continue on the path of growth with consistency and profitability. PTCG also wants to help its teams to have a positive impact on its clients’ business. It is currently working on launching a new project that combines IT technology with management know-how as it believes that lifelong learning platforms are essential to improve its clients’ performance and to give them the tools that meet the current market volatility and complexity requirements.

Suggestions for Younger Self

Mário believes that when someone aspires to launch a new project, the individual should develop the concept carefully and study the market, competitors, and the client’s needs. He feels it is always better to be present in a context of growth, so it’s essential to tackle the timing for the launch properly. It’s never an easy journey, and young entrepreneurs must stay prepared to make some hard decisions. However, if the individual believes in the project and the vision, he/she should fight for it.