Introducing Smart Drive App – Drive Smartly with Smart Drive App

Introducing Smart Drive App – Drive Smartly with Smart Drive App

I am working on a App that helps you drive safely on the roads providing you enough information about quality roads in your city / country.

Explore – Find good roads in your city and drive safely with enough information about bumps and speedbrakers automatically.

Contribute – Collaborate with others and commute safely between your home and work or any other destination.

Interested in this app? Just Sign up to get notified about launch

http://smartdriveapp.launchrock.com/

Startup Idea #6: Using Crowd funding for Credit Card Payment

In these days, Each and every country have a slow economy. Each individuals are being forced to use Credit Card. Almost every one faces the problem of Paying back the credit amount they got it from the Credit Card issuing bank.

If you google on how do Credit Card companies make money, you would see 275,000,000 results.

Here is a little infographic.

How do Credit Card companies make money?

Infographic clearly says many things. but one major mode through which cc companies make money is through Interest being paid on the loan. It can be purchase loan or cash loan.

Most people who have used credit card would surely have faced this. At-least once, each one of us would have paid the interest charges. The Interest charges on cash withdrawals are way too high compared to credit card purchase.

Still, due to the bad time / worst economic situation, people are forced to withdraw cash and thereby end up paying interest charges. Why can’t these charges be paid through trusted crowd funding? also why should we limit ourselves to only 50 day grace period? why can’t we increase it?

Thats where i thought about this silly / simple idea of crowd funding your credit card payment. Lets see how it can work.

Physical Scenario:

mostly, we often ask for economic help from our friends or relatives during economic downtime. To pay the current debts or what ever loans we have.

Online Scenario:

The above one can be easily replicated online. Lets say, a person can have his trusted friends / relatives in his social network whom he thinks can help during his economic slowdown. He / she can raise the crown funding request. ofcourse, there are limits on the amount raised.

His / Her friends can donate certain amounts and thereby reaching the goal and paying for the current month debts. He / she should clearly explain his / her current economic situations to the donors. Based on that donors can take the call and donate.

For donors, they can also get the money back with few interest or may be split the interest the interest amount charged by the bank and distribute.

Pros :

1. Each person gets more credit period than the established one.
2. we all be benefited and thereby helpful to the people we know.

Cons:

1. What if the person is not able to pay the debt back in time? Of-course, (s)he should be charged and making him out of the network.

There can be lots of advantages and disadvantages in this idea. surely, if this grows as a big one, credit card companies will hate such crowd funding sites.

Whats your take on that? Will this be useful? Share your thoughts on the comments below.

Random Thoughts 3

1. Doing business in TN is very very difficult compared to other states. Infrastructure Problem, Power cut problems, too many problems that business cannot concentrate on itself. I am telling this based on my experience with running Chennaishopping.com – the online book store in chennai
2. Recent agitation by students related to Tamil Eelam is a welcome one but a late one. This should have happened in 2009 when the war was on.
3. DMK pulled out of UPA just to tell tamil people that they are more serious about Tamil Eelam. But in reality, they were worried about students agitation and hence want to get attention across nation.
4. India has made the UNHRC resolution draft less effective based on the ties with sri lanka. they are like cat on the wall. If breaking a good relationship with island nation, it will have serious implications going forward. countries like PAKISTAN , CHINA might be waiting to build a relationship with sri lanka to get greater control.
5. Recent TN budget states that govt is keen on making the state a social welfare one (which is already). I think JJ govt should concentrate on solving infra problems, power problems and provide a platform where one can survive.
6. Like selling alcohol, TN govt has started selling Affordable restaurants. This is a welcome one. I also request JJ to consider for water(H2O) distribution through its Metro Water across the state. It can fetch much more revenue as its used by anyone. but rather than making money out of it, govt should keep the water free of cost.
7. CCTP in facebook takes complaints from people in south madras. not sure they care about north madras. may be even the govt or local body authorities….
8. when we book ticket, we pay 40 rs as convenience charges…. would some body pay the same for online store?
9. Many of the shops are now selling milk, water, soft drinks above MRP. what should we do about it? complain? will it work?
10. Autos in Chennai charge double the amount for a commute. my suggestion is if auto guy asks 200 rs for a trip. u can guess the original rate to be (200 / 2 )+ 10 to be reasonable. actually, it will cost only around 100. 10 rs for driver u can manage using this in Chennai.

if u got any other thought, share it in comments.

Envelope 2.0 – can it be upgraded?

Traditionally, we have seen envelope – white or brown or orange. With no details in it. I have been going to post offices and courier for posting parcels for chennaishopping.com

I found that people waste lot of time there waiting in queue at the booking counter. most of the post-office have electronic booking of speed post. only few courier companies booking centre have electronic booking.

The long queue is due to the data entry like name, address, pincode into the system. There are few drawbacks in this.

1. What if the name / address / pincode does not match in the receipt / proof of delivery? since this is entered by human. Many times, i have seen that at the booking centre, they don’t type your full recipient addresses / pincode / name properly.

2. They use their own tracking number shipping label.

i have seen huge letter covers being booked, atleast in courier offices. Error #1 can occur most frequently and there is a inefficiency.

How can it be improved?

I have been thinking about this for some time and i kind found some basic solution i guess. why can’t india post or courier provide their own shipping barcode enabled envelope to their customers? This way it is easier to scan and send at a larger scale which solves #2 problem. this also increases revenue for these companies by selling envelopes.

what about the problem #1?

The sender details and recipient details can be embedded in the form of QRcode.

Automatic Posting Machine:

Imagine like a ATM kiosk wherein you can type in your address and get the envelope or a label sticker with

1. Address printed clearly
2. Tracking number enabled

You just pay the amount mentioned in the envelope or label at the counter. This can reduce the queue size.

I am sure there are lot of ways to re-imagine the post office operations.  If you got, please do add your suggestions….! What do you think?

Random Thoughts – 2

• Entrepreneur life and Marriage life should not be taken together. Both needs your time. Equal time or may be… Marriage life needs more time.
• Lots of people around you gives advice on how to do the business. But they never do their business properly including me. You know the pain only when you get it.
• Long Patience: A Must need in Entrepreneur’s life. you can’t just be that young kid yelling at everyone…..
• A Single Delhi Rape case which is brutal has come to the limelight of Media and general public. When will those that are not arrived will come to the limelight? Will the criminals get punishment? I guess, Governments don’t act fast. It is just a another money making show for all news channels.
• Politicians in GOI are busy thinking about how to make money and more money for their family. The recent hyderabad blasts shows that they dont worry or care at all. Look at shinde’s response. Utterly irresponsible.