Thursday, 25 August 2016

Organic growth and inorganic growth: An insight

The term 'organic' denotes the way living beings develop from the womb. Time plays a crucial role. Inorganic growth is like assembling built parts (organs) into a system. For many businesses, the way forward is growing organically for the first say two to three years. For an online business, you come out with a proprietary software, unique contents, find affiliates and sponsors, build followers and customer list, raise MozRank. This comes close to organic Search Engine Optimization (SEO) where the focus is on generating unique contents and notion of time comes into play.
Organic growth gives an impression of sticking to one place, slow movement, guarding home/core territory. The idea is finding meaning with roots. For months, your business may be generating little revenue. Your confidence in what you are doing is right will be crucial. You use rail instead of flight in order to save money that adds to the bottom line. Cost accounting is in full swing.
Quick top line growth is more often after acquisitions & mergers, inorganic way to expand. With abundant capital, one could have acquired/merged an existing shop or portal on day1. Inorganic growth is more justified when you have built a foundation and then bring into force newer entities. There is a rise in gross sales figure in addition to adding more employees and suppliers. There are more press coverage and public attention. The deciding factor is whether there is a rise in net profit that justifies the expansion effort. Microeconomic theories like increasing returns to scale find relevance.
Even when one goes for inorganic growth, the business purchased is built organically. So, organic growth and inorganic growth are not mutually exclusive. One strategy could be to go for organic growth in your core business and use inorganic ways to capitalize like a catering firm expanding with acquiring confectionery brands. One could see that more than often the natural way is building a foundation through organic growth and then capitalizing on inorganic growth.
A rough way to look at organic growth and inorganic growth is doing work by yourself equivalent to organic growth and hiring others to do inorganic growth. Acquiring a new business is obviously not hiring in the strict sense. 
For a sole proprietor, the choice to grow organically or inorganically is to a great extent about personal preference. For a software vendor, one way could be to acquire newer software brands and other to continue developing the existing product because of bonding that the proprietor has with it irrespective of lost business opportunities. This is one of the reasons why sole proprietorship business remains small and listed companies expand over time, other things remaining constant.

Saturday, 6 August 2016

How learning transcription opens new doors of opportunities in this digital environment

Medical Transcription Theory and Practicum Course for $2,795 at

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According to Speechpad, transcription is "[a] text document that contains a transcript of everything that is spoken in an audio or video file." Transcription is divided into two broad categories:

Medical Transcription:  The audio file is the voice of a physician dictating about patient interactions. The file is then listened by a medical transcriptionist who types it out as a text file, cross‐checked by editors before uploading to physician’s server.

General Transcription: Anything other than Medical Transcription. Includes Legal like court reporting, Business including speeches,lectures, podcasts.     

Medical Transcription is more specialized because you need knowledge of medical terms, follow mandatory guidelines like by HIPAA in the US. Here are the benefits of learning art of transcription while pursuing other hobbies/careers in your career timeline:

  • Transcription improves listening skill, especially for someone with English as a second language.  
  • One also needs to learn to type. At a time when most writing involves desktop/laptop, imagine how much more productive you become while writing letters, reports when fast on the keyboard. 
  • You need to be accurate in English grammar. Understanding subject and verb agreement, the right use of prepositions and punctuation marks is crucial for those who neglected English grammar during school days. In other words, it is an opportunity for an adult learner master writing English correctly. 
  • While learning transcription, your immediate motive may be to find a job. There are lots of transcription jobs available online which one can pursue as a freelancer. While the introduction of voice detection software has reduced the work, there is always a demand of trained editors to give the final copy a human touch. In fact, speech recognition software acts as productivity enhancement tool  for editors in today's BPOs that specialize in transcription.
  • Once your listening skill is improved, you are more comfortable attending phone calls. You also learn about pronunciation/accent during training. So, you can interact with overseas clients more confidently. You may join as a caller/customer care agent in a call center.
  • In case you love to write, it is easier to change your profile as content writer producing web-based contents.
  • In the case of medical transcription, medical lessons undertaken may help selling nutritional supplements while associating with direct selling companies like Amway.
  • Translation is yet another growing field where you find a lot of jobs translating from your mother tongue to English and vice versa. Just like transcription using speech recognition software, in translation, there are wonderful aids including Google Translate with which you get a first-hand copy but needs human revision.
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Wednesday, 3 August 2016

Born Creative

Guest Author: Harry Hoover
Creativity is a human trait that has helped us conquer our world and move us to the top of the food chain. Research shows that we all have creative ability. The more training you have, and the more diverse the training is, the greater is your potential for solid creative output. Additionally, it has been shown that in creativity quantity equals higher quality. Noble Prize-winning chemist Linus Pauling asserts that the best way to get a good idea is to get a lot of ideas. Unfortunately, school teaches us to find the "right answer" when actually there is almost always more than one right answer for a problem. Children – on average – generate 60 possible solutions when given a challenge. Adults generate three to six solutions. Society has convinced us that only certain special people are creative. This is so wrong that I wrote a book about it called Born Creative. The infographic provides some additional facts about the brain and creativity. You, Improved

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