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Monthly Archives

July 2020

Individuals to become smart
Better TipsManagementPersonal GrowthWriting

5 Simple Tips on How Individuals Can Become Smart

by Shamsul July 13, 2020

 

5 Simple Tips on How Individual Can Become Smart

 

Anomalies give the majority inappropriate thoughts as they are completely different from normal individuals. At the point when we hear tales around a seven-year-old who can communicate in 14 distinct dialects, or see a video of somebody with a photographic memory rehashing back everyone’s name in a fifty man theater, we sit back in amazement.

“How might they do that?” we state, our jaws on the ground.

We start to imagine that elevated levels of insight are more the consequence of nature, as opposed to supporting. Yet, that is simply not the situation.

In all actuality, we are for the most part clear records when we show up here on earth. Of course, we acquire a couple of things from our ancestors, at the end of the day our prospects rely upon our hard-working attitude. There are a lot of splendid individuals on the planet who never sum to a lot, exclusively in light of the fact that they came up short on the longing to refine their characteristic gifts and knowledge.

Furthermore, on the opposite side of the range, there are a lot of individuals who had the chances stacked against them and preceded to do splendid things. Individuals aren’t brought into the world keen. Individuals figure out how to function with what they have, and become shrewd thus.

 

How?

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1- Keen Individuals Read (A Ton)

Without a doubt, it’s disheartening when you run over somebody who can essentially download books into their mind and recollect each and every snippet of data. In any case, that is a long way from the basic norm.

For the vast majority, perusing must be training and a propensity.

Perusing is the ability simply like some other, and we overlook that. Go excessively long without perusing and extending your mind, and you’ll see the undertaking as fantastically troublesome — particularly when it comes time to review what you’ve perused.

Savvy individuals work on perusing regularly. What’s more, much the same as whatever else, with training, they show signs of improvement and better after some time.

Get Success by learning more

2- Savvy Individuals Stick Around Other Brilliant Individuals

A great many people stick around others simply like them. This can be both something worth being thankful for (when done deliberately) and a terrible thing (when the outcome has a negative effect).

In the event that you need to get more intelligent, you need to invest energy around individuals more brilliantly than yourself. One of my preferred statements is, “In case you’re the most brilliant individual in the room, you’re in an inappropriate room.”

At the point when you invest energy with keen individuals, their drive, their insight, their mindfulness naturally comes off on you. It increases the expectation you hold for yourself. It extends your mind in manners you can’t get somewhere else. Furthermore, it makes you question, “Hello, on the off chance that they know such stuff, for what reason right?” Keen individuals stick around other brilliant individuals. “You are the copy of the five people you invest the most efforts with.”

 

Get Success

3- Keen Individuals Love Committing Errors

Individuals who see how evident knowledge is developed likewise comprehend that “botches” don’t exist.

Each slip up is a chance to get familiar with an exercise, improve, and push ahead. This implies some portion of turning out to be “brilliant” is moving your mindset away from dreading botches and rather grasping them.

Why?

Since they give you what you have to realize straightaway, refine, and enhance to arrive at the following level. That is all the development procedure is. Shrewd individuals know this and are extremely trusting of the procedure.

 

Individuals See an Incentive in a Wide Range of Information

4- Savvy Individuals See an Incentive in a Wide Range of Information

Imbecilic individuals are the ones who state, “Gracious, that is not pertinent to me. I don’t have to realize that.”

 

Shrewd individuals are the ones who state, “That is fascinating. I didn’t realize that. Disclose to me more.” Information, in itself, is emotional. It’s comparative with your interests, your objectives, your aspirations, and your present tasks.

 

In any case, this shouldn’t imply that some information merits knowing and some information isn’t. No, there aren’t sufficient hours in the day to know it all, yet would it be advisable for you to end up in a discussion about an outside subject, why closed it out? Keen individuals grasp these arbitrary snapshots of learning and consider them to be chances to grow what their identity is and their familiarity with the world.

 

Hard Work bring Success

5- Brilliant Individuals Work (Incredibly) Hard

Whoever thinks turning out to be “shrewd” is a cakewalk has never ventured to every part of the way. Learning and improving ought to be fun, and you ought to appreciate what it is you’re diving into. And yet, it is guileless to think the procedure was consistently rainbows and roses.

In all actuality, it’s difficult to work to delve into your art and learn it all around.

Keen individuals don’t avoid such control. What they do is they make an actual existence and a calendar that supports it, driving themselves to complete what they have to complete to stay in a consistent condition of development.

This is the way to progress, and to knowledge when all is said in done.

It doesn’t simply “occur.”  It takes hard work.

 

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Sell on eBay
Better TipsBusinessMarketingTrending

A Detailed Guide on Selling at eBay

by Shamsul July 10, 2020

 

 A Detailed Guide on Selling at eBay

 

There are a large number of popular eCommerce sites in the world like Amazon, Walmart, etc. However, there are a few services that eBay provides to its seller that no other site can match.  The most notable is the customizable storefronts in which an eBay seller can develop his own brand. Here the Buyers now that they are dealing with a particular seller on eBay and interact directly with him. This is not possible on other sites where the buyer deals with the eCommerce site as a whole. Anyone can start selling at eBay.

This business model has made eBay much more seller-focused than other sites. The seller is basically using a shop in eBay’s marketplace and as such has to follow few rules. However, in return, he would get a stable platform, lots of views and an easy to sell products.

 

Steps for Selling at eBay

 

Do your Homework:

First, you should have a feel for the eBay platform. Browse through it and develop a familiarity with the interface. There are a large number of stores selling different items already online on eBay. One should take a look into it and do his own research before deciding which products to sell in his store. Ideally, the product chosen should be sold at competitive rates or have any value added to it to attract the customer.

Creating an Account:

Go to the eBay Registration.

There are two different of accounts one can register in eBay – Personal and Business

  • Personal account: – These accounts are suitable for those who are looking for occasionally sell or purchase a small number of products on the eBay platform. This account can be created easily by filling a simple form that includes your name, mail, and password or signs in from Facebook or Google and start selling at eBay.

Sell on eBay

  • Business account: – This account is ideal for the businesses that deal with bulk sell and purchase of items. For creating a business account, press on Create a business account. This is situated just below to create an account option.

Sell on eBay

Registration:

  • Pressing it will take you to the registration page where you have to give details about your legal business name, email, phone, and password.

Sell on eBay

 

 

 

Products Selling on eBay:

Having a clear idea of what you wish to sell on the eBay platform will help in making the product listing process much easier. Below are few tips to get you started on your product?

 

Sell from your own Inventory:

This is for those who have stock of a product at hand or you manufacture any particular product. For the first time seller, it’s better to sell old stuff that you might not require and can let go. Example:- furniture, books equipment, etc. For the manufacturer, it’s better to sell in small quantities and scale up after you are familiar with the whole process from listing to shipping.

 

Consider Procurement and Logistics:

eBay acts as a global marketplace where you can start selling at eBay to the whole world. As such, it makes packing and transport logistics much easier to deal with if you have a product in mind. Then look at the feasibility of the whole model by looking at the tentative profit you will get. This can be done by deducting the cost of the product, eBay fees along with shipping and packing charges from your selling price.

 

Choose Product Category:

Now you can choose the product category that best suits your product. The popular categories include Books, Collectibles, Antiques, Consumer Electronics, Business & Industrial, Pet Supplies, Sporting Goods, Computers, Dolls, Crafts, Motors, and Home & Garden. Besides this, make sure that your product does not fall through the eBay prohibited categories

 

Creating a listing:

You can start creating by pressing the “Sell” button on top of any pages on eBay. This would take you to sell your item form if your account is up and running. If there is any information missing in your account then it will ask you to fill them before redirecting to sell your item form.

 

Selecting category:

In the Sell your item form, you would first need to select the category and a subcategory for your product. You can also get eBay to suggest a fitting product category by entering keywords related to your product in the search box that says “What are you selling?”

 

Filling Title & Description:

One of the most important things about your eBay listing is that it should be attractive and enticing to the buyers. As such it’s a must to include SEO friendly titles and descriptions that have related keywords.

 

Better and Sharp Images of the Products:

Uploading Photos:

eBay has a few guidelines and tips on the photo which have to be included in the listing. Ideally, the photo should be taken from different angles and should be in a clear white background. You can up to a total of 12 photos in the listing for free. So high-quality photos that showcase the attractiveness of your product can go a long way in helping you make a sale and a better start selling at eBay.

 

Listing Formats:

There are three different listing formats available on eBay. This includes Auction style, fixed style, and classified ads.

 

Auction-style:

Here the base price at which auction starts and the time period for the auction is set by the seller. The product is won by the highest bidder in that timeline. Multiple products can be set for auction simultaneously. There is an option of 1,3,5,7 or 10 days for product auction and 30 days for real-estate auctions. The fees for the auctions include insertion fees, optional upgrades that are charged at the creation of listing, and final value fee which is charged if there is a sale.

 

Fixed price:

This is also called Good ‘till Cancelled listing. Here the buyer can buy the item in an instant. The listing can be of 1, 3, 5,7,10, or 30 days or GTC option which is basically auto-renews every month until it’s sold. The fees include the insertion fee, optional upgrade fee at listing creation, and final value fee when it’s sold.

 

Classified Ads:

This is for those users who want to expose their product to eBay’s potential 175 million users. Here the ads of your product appear on the eBay homepage and eBay’s search result. The buyer can contact the seller directly and the transaction is done on a personal basis. Here the insertion fees change by category. There are optional fees for upgrades but there’s no final value fee. The ad can run for 1, 3, 5,7,10, and 30 or good till canceled in which insertion fees are charged every 30 days.

 

Setting the Price:

In the auction-style listing, the price is ideally set at the bare minimum so that your product attracts more potential buyers. Generally, Items that are priced higher don’t do well. eBay also has the option to accept or decline any offer automatically according to the price quoted by the buyer.

 

Competitive Price:

In a fixed price listing, it’s better to price it competitively after checking your profit margin. You should keep manufacture cost, shipping, and packing and eBay fees in mind while deciding the set price. You also have the option to let buyers quote a price to you by “Let buyers make offers” if they are not happy with your price. If the quoted price is acceptable to you, then you can make the sale.

 

 

Payments & Shipping:

  • Here, you basically give the payment methods that can be used while purchasing from you along with the shipping method that you will use to ship the product to the buyer. You also need to specify the handling time which is basically the time taken by you to ship the product after-sale is done. Payment methods available on eBay are PayPal, pay on pickup, cards, e-wallets like Skrill and Escrow. The most widely used method of receiving money on eBay is PayPal because its fast, secure, global, and easy to use.

 

Return Policy:

  • It’s perfectly alright to not accept any returns but you need to mention the same on the eBay listing. However do keep in mind that even if you don’t accept return, you are still under eBay’s money-back guarantee. An additional information section in the form can be used to give details about your return policy. If there’s no return policy selected in your listing, eBay will automatically apply default return policy
  • Ideal return policy on eBay should give refunds, no question asked returns, 30days time along with mentioning if there’s any restocking fee, return shipping & handling fees associated with the product. Also, the item condition should be clearly mentioned so that the Buyer doesn’t have any unpleasant surprises.
  • Business accounts holders are mandated by eBay to give a minimum of 14 days return window. Also, those who do international business should give clear instructions on returns and who pays return shipping and how the refund is processed.

 

On eBay, the seller can review and accept a return request within 8 days of receiving it. After which the terms of your return policy comes in play. Then buyer ships the product back to you within 14 days. You have to inspect the returned product and check its condition. If that is met, then the refund should be initiated in 6 days. Your eBay fees associated with that sale will be adjusted in your next invoice.

 

How to sell on eBay

 

 Different types of fees on eBay:

A good grasp on eBay’s different fees can help the seller to maximize his profit when you start selling at eBay.Different fees that eBay charges are:

Insertion fees:

eBay provides 50 free listings after which it charges 0.35$ for every additional listing. This fee is sometimes waived off for eBay stores owner even if they have more listing. Also, for the listing of heavy equipment, press, and food trucks & restaurants, there is a flat insertion fee of US$20.

Final value fee:

This is basically eBay’s commission for the item sold in your store and is a percentage of selling price including shipping. This fee varies from 2-12% depending on the category. The majority of categories have 10% as fees while books, DVD category has 12% and the heavy item has 2% fees.

Optional Upgrades fees:

This fee is charged by eBay if you are making any changes to your listing to make it more attractive like making some parts bold, highlighted, having a good looking border, listing in multiple categories, visibility, subtitles, etc.

Classified Listing Fees:

This fee is exclusive to classified ad listing. Classified ads are exactly like newspaper ads and created for very limited categories like industrial, specialty services, travel, tools, information. This is a flat fee of 9.95$ for a classified ad listed for 30 days and there are no final value fees involved.

Optional Promoted Listings Fee:

This is basically marketing your product on other pages that potential buyers are browsing. The seller can decide what amount of the final fee that the seller wants to pay extra to make the product promoted by eBay. This starts with a single percentage of the final value fees.

Payment processing fees:

The widely used payment gateway PayPal charges 2.9%+ 0.3$ for every payment on eBay. It recently started Managed payments on a limited basis which is a total cumulative fee consisting of all eBay fees incurred and paid on eBay platform.

Miscellaneous fees:

These are the additional fees that are applicable to the eBay sellers who have poor ratings and fall short on eBay’s minimum seller level rating requirement. These fees are 5% of the final value fee is applicable. However, if minimum seller performance not met and the account has lots of ‘Item not as described’ return cases. eBay does levies a final value fee even if there’s no sale in case there is a sale or purchase of products outside the eBay platform.

 

eBay does provide a very good platform and a lot of tools for the sellers to maximize sales and profit. For those with low sales, the 50 free listing and 12 free pictures help to list products for free. However if the sales increase, it’s better to get eBay stores and pay monthly charges to get benefits like low insertion fees and final value fees. Why you are waiting now? Register, make a store and start selling at eBay.

 

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Sell on Facebook
BusinessMarketingTrendingWriting

Need to Know That How to Sell On Facebook

by Shamsul July 9, 2020

 

Need to Know That How to Sell On Facebook

 

Facebook is the site where any organization markets / offers their goods after Google with over 2 billion of engaged customers every month. No hidden, due to its growing popularity as an alternative to sites like Google and Amazon Facebook compete with Google in the ad revenue market. You can use the opportunity to sell on Facebook also.

Addressing the huge user base of Facebook will help you achieve a strong ROI and allow you to expand your customer base.

 

Let’s explore the different ways to sell on Facebook.

Selling on Facebook Marketplace:

The Facebook marketplace is less related to shopping and is more related to being a location where consumers can display their goods along with their costs, whether they are ordinary customers, vendors, or producers. Many that are involved will see the product listing and contact the owner for order, agreement, or inquiries. On the Facebook market, there are no purchase gateways.

 

This is how to sell at the Marketplace on Facebook:

  • Sign in to the Facebook Marketplace or instead, by connecting to Facebook and clicking the “Marketplace” button, you can navigate the Facebook marketplace from the left-hand side of your Facebook home screen.
  • Tap “+ Sell Something” while in Facebook Marketplace
  • Pick what kind of item you want to sell
  • Complete the details you need about your item.
  • Click on “Next” when completing the relevant details. You will be taken to a dialog box asking for more coverage to be shared with additional groups.

All that remains is to advertise the listings so that you are more likely to be on the site.

Selling On Facebook Shop

Let’s continue with marketing the goods on Facebook, with the help of a Facebook account.

Create A Facebook Page

You just need a Facebook account to sell on Facebook – either to provide a self-contained shop or to combine it with a current website/e-commerce store.

 

  1. Facebook login / sign-up.
  2. Click on “Create”-> “page” Go to Facebook Pages.
    In the upper right-hand side of the Facebook home page, in the down arrow click in “CreatePage.”
  • Under Business or brand, select ” Get Start”
  1. Name your page and finish it.
  2. Attach a picture to your profile and cover photo
  3. That is it. You are set to turn your Facebook account into your online store.

Add Shop Section to Sell on Facebook

For those who still have not got a website, or who want to complement it and/or raise their ROI through their Facebook page, a shop section is a perfect solution.

 

  1. Sign in and open your Facebook account
  2. Click the Shop on the Page tab, if it is not available you will go to the Preferences of the Page screen, press “Add a Tab” at the bottom of the page, and choose “Format and Tabs.” Look for the Shop tab and press the Add button to connect to the list.

 

  1. Select the checkout method and the currency after clicking the Shop tab.

Through clicking on the “Add products” button, you can now add items to your Account. You will be asked to complete package descriptions, upload photos, set an inventory count, and shipping options after clicking Add Products. Click Save to add the file to your List and fill them accordingly. Follow your remaining products in the same way.

 

Sell on Facebook Using Shopify

Shopify is one of the most rapidly growing Web developers or e-commerce dedicated to the development of today’s online stores.

 

It is simple and straightforward to incorporate your shop in your Facebook App. The steps you must take to build your Facebook store can Shop are as follows:

  1. Login Shopify and press the + button next to the Sales channels on your Store admin page
  2. Click Facebook Shop on the Sales channel dialog.
  • Click the Connect account. Link your Facebook account to allow Shop to link to the Facebook page and follow the instructions.
  1. Wait for the shop to be reviewed by Facebook for up to 48 hours.
  2. When you have updated your shop you’ll get an e-mail which will encourage you to add new or current items to your Shop to appear under the “Shop” tab to your Facebook page.

All subscription plans include the Facebook Shop feature. Once the app is set up and products are connected to it, Facebook then creates a Shop button on your Facebook profile that can “move your items” directly to Facebook.

Sell On Facebook Using Messenger

The Messenger from Facebook is also a support for the purchase and sale of products from within the app. When correctly leveraged, it goes from acting as a customer interaction platform to becoming a proper sales channel.

As you write, you can very easily link shop-based stores to Messenger because they are provided with Shopify as a “sales channel.”

 

Sell On Facebook Using Facebook Ads

Ads on any platform can use a single post, but Hootsuite classifies Facebook ads for the sake of simplicity.

  1. Picture Advertising
  2. Ads for Audio
  • The Ads poll
  1. Ads from Carousel
  2. Schematic Ads
  3. Ads Collection
  • Messenger and Content Interactive Advertising – AR, VR
  • Google marketing commercial

 

For businesses to start an ad campaign, Facebook offers a quick, easy-to-use ad manager. Here’s how you build your shop or goods Facebook Ad Campaign:

  1. Sign in and go to the ads on Facebook Advertising Administrator
  2. You can launch a new Facebook ad campaign by pressing Create.
  • Select an authoritative campaign.
  1. Complete the name of the campaign you picked.
  2. Select the choices for your campaign you picked.
  3. Whether this is the first Facebook ad campaign, it will encourage you to build the Facebook Ad page and continue with the next move. Set up your ad account. If not, just keep press.
  • Continue to configure your marketing plan to hit and interpret it optimally.
  • Ultimately, pick and press Confirm with your ad type.

 

That’s all to sell on Facebook! Go on and start selling and earning.

 

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Earn From Facebook | How to Make Money from Facebook

by Shamsul July 8, 2020

 

How to Make Money from Facebook

 

In addition to its role as a forum for social networking, Facebook is one of the best online marketing resources available. Through moving goods across continents, corporations have extended their client base. There’s no denying that Facebook is the place with 1.18 billion daily users on average. Also, small businesses may extend their activities with a cost-effective platform such as Facebook. Moreover, you can earn money from Facebook in different ways. Moreover, you can earn from Facebook in different ways.

You will be paid to use Facebook, in addition to expressing yourself and getting such updates.

Build Your Audience First:

The explanation of why influencers on Facebook have been successful is that they have already followed a follow-up process. You will improve your Facebook skills by sharing a variety of fine posts – fascinating links, pictures, and updates. You should create a field of interest to truly thrive as a person, so you will become known as an authority. Although marketers may want to target influencers, they would still want to create their profile on Facebook. We will do that overtime to make people identify them as niche expertise.

Earn Money

Earn Money from Facebook by Selling Products

Facebook Marketplace, which was carried out in 2007, is like a virtual yard sale and almost anything will be found on Earth here. Users will list something they wish to purchase or sell and wait for bids. There are many people selling products and earning substantial profits on the Facebook market. You can track sellers or buyers from the networks of your mates. You never realize that there could still be a customer waiting, whether it’s this office party outfit you’ve never worn before or your album set. Facebook is a perfect way to promote goods and communications partnerships. Only add the link to the product you are selling and go there. You can earn a large commission to promote brands like Amazon, Flipkart, etc.

Earn from Facebook by Selling Services

Are you aware that you can earn money by offering services on Facebook? This does not mean that internet services are offered but actual Facebook services. You may have found spamming groups with photos of flats, paying guests, pet services, etc. You can sell and make some money with the right sort of targeted advertising. Like any company, you must seek to deliver services that provide a reasonable return for your valuation. Even if the ad says the service is free, you would know that the service would have a fee. The object is to generate value and then attract future buyers.

Choose groups that are suitable for your skill sets. Request for membership of the Group concerned. Analyze other people’s posts providing similar services. Create a nice post for selling your facilities. Review comments and improve your posts.

Earn from Facebook via Digital Marketing

There are several additional digital marketing activities, however, that you can do in your Facebook program and do not need too much expertise such as handling social media posts, management of corporate pages on Facebook, generating trending messages, etc. Since the handling of social media accounts is fairly simple, you also have the option of managing 3 to 4 company pages and earning money from Facebook.

Send an application for access to relevant job groups on handling social media pages or SEOs, etc. Make a great post for the sale of your services. Check your comments and update your post.

Fear from Facebook
Earn from Facebook by Affiliate Marketing

Affiliate Marketing is a technique through which you receive a small fee for product or service promotion if you sell a product due to your digital activity. You can see that the post brings the viewer with a threefold discount immediately. The product also looks like it has a great many ratings to boost the factor of confidence. The most important thing to see here is that the product is an Amazon connection which means that the “promoter” gets a fee by clicking on the button.

Earn from Facebook Page Likes, Shares & Comments

This is a bit old, but by selling Facebook Views, Comments & Shares I still see people make money. Most users sell clips, reviews, and shares for a fixed price on Twitter. In most situations, people have a network of people who want Sharing Comment for some benefit. Through searching out cheap sources of bank accounts, comments, and shares and selling them at a higher discount, you can also become a reseller of Facebook likes, comments, and stocks. Selling ratings, comments and shares were once big companies a number of years back. But marketers now recognize their vulnerabilities.

Earn from Facebook through Adsense

AdSense is a monetization platform for the website of Google that allows you to view ads on a site. AdSense has some criteria for approval, but when you qualify, you can make money by driving paid traffic from any website to the website. What are you going to need is a website with Adsense approval, which can earn money by clicking on ads on your website. When people click on the ad they are making money, they drive traffic from Facebook to your website.

This type of business is considered as “Arbitrage,” where you pay for the acquisition of the user and make a profit when the user clicks on the ad. This normally works with entertainment and media platforms and people tend to click on these kinds of posts, and your postings might even get a good number of shares to boost your AdSense revenue through certain organic search traffic.

Earn from Facebook by Freelance Social Media Marketing

This role would allow corporations and brands to boost user interaction, like Facebook and other social media sites. Of course, just by producing products that catch eyeballs and make people want to share them is the way to attract meaningful traffic. The job description also gives detail to the readers to the website.

Neil Patel, the author and one of the leading web influencers, says that companies are ready to shell out more and more with social media algorithms increasingly prioritizing advertising. That’s why social media advertisements are being invested. Between 2014 and 2016, social media advertising budgets doubled.

Earn from Facebook By Becoming Influencer

Many companies are struggling to create the requisite numbers from Facebook to raise profits. It is normal for businesses to look for assistance in this case. The influencers have produced a severe grease. Anyone who is now an influential person on Facebook has begun “Zero Facebook.” However, they have taken the time to settle down in a niche and they have taken the requisite steps to create credibility and trust, hence the following one. They realize that they will partner with brands and disseminate messages from the brands in a manner otherwise unlikely for them. The most important condition is that the brand is good for the followers of the influencer.

The reliability of your content can determine your potential partners’ perceptions. High-quality content is critical if you are to make a good first impression. When brands seek out potential influencers on social media, they examine the impact, scope, and engagement rate of their influencers. But they will also pass through the content of the influencer only to see how good a content designer is.

 

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Zoox – Amazon in the Race for the Autonomous Ride Market

by Shamsul July 3, 2020

 

Zoox – Amazon in the Race for the Autonomous Ride Market

 

Summary

Amazon has recently purchased the company Zoox at a $1.2 billion to enter the autonomous ride market. Though Zoox is majorly involved in the autonomous delivery of the package currently but it still open doors for an autonomous ride in the market.

Amazon has to invest a lot of money in the company to be competitive in the market. Three big tech companies in the world- Amazon, Google, and Apple are geared to compete in the autonomous ride market. Hence the acquisition of Zoox is a strategic move by Amazon and would pay great dividends in the near future. This would greatly help Amazon in expanding into other major markets after it expanded into AWS from its online eCommerce.

Amazon’s Strategy

Many people have speculated that this acquisition was just another foray by Amazon to automate its delivery ecosystem. However, Amazon made it clear that it wants Zoox to run as a standalone entity. This would work like the ride service like Uber or Lyft without the need for an actual Driver. As such, it’s a huge potential market that would require a huge investment to deal with all the technical stuff required. Even though Zoox was purchased for 1.2 billion $ by Amazon, Zoox had already invested almost that amount in R&D for autonomous rides.

The potential usage for this technology in Amazon’s current services can be utilized down the line by the creation of autonomous grocery delivery service or package delivery. This is not currently feasible as it would require someone to be present at home to receive packages.

Zoox has an expensive but with the high potential strategy for autonomous ride services that Amazon is planning to continue. In the near future, Amazon would fork out another 1-2 billion dollars for the technology and several more in creating a fleet of such driverless vehicles.

Zoox Strategy

Waymo is one of the competitors for Zoox that has been in the market from the initial days. Its approach to the driverless autonomous vehicle is mainly through the help of sensors, software, and computer programming. The available commercial vehicles are then retrofitted with these technologies in order to create the first generation of its driverless vehicle. It has six hundreds of Chrysler Pacifica Hybrid minivans fitted with sensors and programming in its initial test run. Now 62000 more of these vehicles and 20,000 more of Jaguar I-Pace electric vehicles are being retrofitted in their Michigan factory.

It is highly cost-effective for retrofitting older vehicles as it decreases R&D costs by a very large margin. After the success of this phase, companies would then move on to create exclusive vehicles with no human control modules for their autonomous vehicles. However, Zoox plans to bypass the first generation and move to create exclusive second-generation vehicles. Its vehicles would have seats facing each other and no pedals or steering wheels. The vehicle would also be able to move forward or reverse easily as there is no human at controls.

This strategy is both highly costly and time taking. Along with the creation of the technology, it would also have to take care of the hardware components including the design of these unique vehicles. This led to the collapse of Zoox as it didn’t have the money needed to develop it nor it could raise it. As such, the only way out was to sell the company to Amazon which has the capacity to spend several billion-dollar to complete Zoox’s vision

The testing for the autonomous ride technology has already been started by Zoox using retrofitted Toyota SUVs in the cities of San Francisco and Las Vegas. As per California’s autonomous mile driven record, Zoox has clocked 67000 miles while its competitor Waymo and GM Cruise has clocked 1.4 million and 800,000 miles respectively in 2019.

Amazon

The Reason behind Low Valuation of Zoox

Though Zoox had a previous valuation as high as 3 billion dollars and had raised 1 billion dollars on that valuation, it still sold to Amazon for the low value of 1.2 billion dollars. The reason behind that was the Zoox’s highly ambitious strategy proved too costly for the company.

There would be a shortfall of 2 billion dollars for R&D and the creation of the second-generation autonomous vehicle.  Also, it needs an additional 8-10 billion dollars to create a fleet of a hundred thousand vehicles. This additional money was not available to Zoox and as such, they needed to come up with the money first. When potential investors got this news, the valuation of Zoox becomes lesser than the earlier rounds of investments. So if they were to make more money from investors at lesser valuation, then the earlier investor would lose a lot of money.

It was a better option for the company to sell itself to someone with deep pockets like Amazon. Perhaps Amazon was one of the potential investors that wanted to take over the business. It has money and a way to incorporate autonomous ride vehicle in its future growth strategy

Another big potential investor such as Softbank already involved with their competitors and auto companies doesn’t have that deep of a pocket.

Details About ARS Market

ARS or autonomous ride services is basically driverless ridesharing service. It’s more cost-effective, convenient, and highly profitable. It will provide a highly localized service. The fleet of autonomous vehicles will provide the ride-sharing service to select municipal areas. For instance, a fleet of a hundred thousand ARS vehicles can meet the transport need of 7.5% of the greater Phoenix area.

ARS is a highly revolutionary product that can compete with the likes of Uber and Lyft while also hitting private car ownership. As it becomes cheaper and convenient than owning a car that’s sitting idle most of the time.

According to estimates, The ARS market has the potential to be as big as 75 billion dollars by the year 2025 and more than 750 billion dollars by the year 2030.

Amazon’s Competitor in the ARS market

Waymo is the current market leader of the ARS market with more than 20 million autonomous miles clocked in 25 different locations and 10 billion more clocked in simulation.  Just before the suspension of their services, Waymo was having around 100-1500 trips in the Pheonix area every day with 10% of them were fully autonomous.  Waymo is currently a separate company with a recent investment of 3 billion dollars at a valuation of 30 billion dollars.

GM Cruise is another separate entity that’s now the number two in the ARS market. It has a valuation of 19 billion dollars and had raised around 6 billion dollars at that valuation. It has around 1750 employees in the R&D and is burning cash at a rate of a billion-dollar every year. Its ARS vehicle expected to be available in the second half of 2021.

Apple is also in the ARS market with its Project Titan that has been under development for many years. Legal filings have revealed that it has 2700 employees in the project, more than 100 patents in driverless vehicles. Apple had already invested several billion-dollar and done some testing in California on autonomous driving

Other companies that intend to compete in the ARS market include Ford motors by their entity Ford Autonomous Vehicles LLC along with ridesharing companies UBER and LYFT. Though it’s unlikely that ridesharing companies can afford to develop their own ARS vehicles. They are looking into partnerships to develop it.

 

Tesla is not a part of this list as it’s mostly for the private owners and is semi-autonomous. It doesn’t seem to get into ARS market anytime soon

Amazon’s Opportunity with the ARS

Zoox’s acquisition is a very good strategic move by Amazon as it will have the big ARS market to it. Big companies like Amazon, Apple, and Alphabet have very little avenue for expansion into new profitable big markets.

Also, Zoox’s acquisition has pushed Amazon a lot forward in the R&D into the second-gen autonomous vehicle. It would have been a very foolish move by Amazon part if it were to invest a lot of money to develop this technology from scratch. Now it cost Amazon 1.2 billion for acquisition and around the same more to complete R&D and testing. It’s a very good deal

Even by a very conservative approach, the valuation of Zoox can increase to 30-40 billion by just investing 1-2 billion dollars to complete R&D. The potential 750 billion dollar market by 2030 would be ripe for taking by Amazon.

One more point of view is to compare the current expansion with Zoox with the previous expansion with AWS. AWS has grown from 17.5 billion dollars in 2017 to 35 billion dollars recently. AWS currently accounts for 80% of Amazon’s profit and more than one-third of Amazons’ 1.3 trillion market value. Similarly, Zoox is expecting to generate 35 billion dollar revenue within the next 5-6 years. If it manages to capture even 10% of the whole market. As such Amazon is looking to create another success story with Zoox.

 

Read More:

Driverless Cars – A Guide to Self-Driving Vehicles

7 Steps to Building a Large Business Network

SWOT of Amazon | Amazon SWOT Analysis

July 3, 2020 7 comments
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