Wednesday, September 21 2022

side sparks, the weekly quiz Your story, tests your domain knowledge, business acumen and lateral thinking skills (see previous edition here). In this 54th edition of the quiz, we present the issues addressed by real entrepreneurs in their startup journey.

What would you do if you were in their place? At the end of the quiz, you will find out what the entrepreneurs and innovators themselves have actually done. Would you do things differently?

Discover YourStory book review section too, with takeaways of over 340 titles on creativity and entrepreneurship, and our weekend PhotoSparks section on creativity in the arts.

Q1: Benefits of educational technologies

Edtech platforms offer a number of benefits to teachers and learners. Educational content and community interactions can be scaled, personalized and personalized efficiently. There is also another key process where such platforms can help educational institutions – what is it?

Q2: Banking Services

Technology has helped increase the customer footprint of the banking and financial services industry, both in terms of quantity and quality. In some cases, digitization can even help overcome existing prejudices against female borrowers. How does this work?

Q3: Content and beyond

Content platforms have become a boon to the creative community by helping them reach global audiences regardless of location and time zone. What are the main ways in which these platforms have also contributed to community engagement?

Q4: Journey to success

The entrepreneurial journey can be long and uncertain, but founders clearly need to be prepared for a range of scenarios. Effective support systems are also helpful. But sometimes paralysis by analysis or lack of confidence can get in the way. How can this be overcome?

Q5: Business communication

Storytelling is widely considered a powerful tool for business communication. The plot, cast of characters, emotional journey, and inspirational message are the key elements of an effective story. What are the other success factors for good storytelling?

Answers!

Congratulations on getting this far! But there’s more to come – answers to these five questions (below), plus links to articles with more details on entrepreneur solutions. Happy reading, happy learning and happy creating!

A1: Benefits of educational technologies

“While new business models are being validated in the education sector with a new era technology stack, student acquisition remains a white space,” observes Abhishek Ballabh, co-founder of ExtraaEdge.

The B2B SaaS company enables educational institutions to automate, streamline and manage their student enrollment funnel. Read more here about its dashboard to track the performance of multiple centers, franchises, teams, advisors and marketing channels.

A2: Banking Services

“Technologies like AI and ML provide a fairer, unbiased, data-driven root to financial processes like loan origination,” says Harshvardhan Lunia, Founder, Lendingkart.

“Gender issues are a major obstacle on the way to a fair economy,” he adds. Read more here on how algorithms can help overcome some human errors and present accurate and reliable results based solely on customer activity and potential.

A3: Content and beyond

“Platforms with built-in real-time gamification, driven by microtransaction-based donation options, have managed to stick the masses in a very short time,” says Varun Saxena, Founder and CEO of Bolo Live, a social live streaming platform.

Read more here on how these platforms allow fans to live chat, connect, interact and build communities with their favorite live streamers. All of this can also be done in the language of their choice.

A4: Journey to success

“The idea is to take the first step. It looks tough, and it looks tough, but take that first step and the path will be formed,” says Vaidehi Vaidya, founder of Women in Sport, India.

Her company aims to bring gender balance to sports. It helps female athletes find mentors and advisors with the right expertise and knowledge. Find out more about his background and achievements here.

A5: Corporate communication

“Good storytelling begins with brevity and simplicity,” according to Ujwal Kalra and Shobhit Shubhankar, co-authors of Startup Compass: How Iconic Entrepreneurs Got It Right.

Founders should also show some vulnerability and not try to oversell. “Organizational culture is at the heart of a business,” say the co-authors. Read more startup tips from the stories of 20 successful entrepreneurs and investors in our book review.

YourStory also published the pocketbook “Proverbs and quotes for entrepreneurs: a world of inspiration for startups” as a creative and motivational guide for innovators (downloadable as apps here: Apple, android).

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