Household Consumption Analysis in Rawalpindi

Family unit Consumption Analysis in Rawalpindi Imran Ejaz 1. Presentation: Utilization and creation produce monetary exercises in an economy. Utilization and creation go one next to the other. Utilization makes interest for additional creation of products and ventures. It is right to state that if there is no utilization there is no monetary movement in the nation. Just the last acquisition of merchandise and enterprises is known as utilization, and each business movement is for creation reason. Utilization can be communicated in two different ways. In ostensible, implies the cash spent on the acquisition of products and ventures, and in genuine, implies the inferring of the utility of merchandise and enterprises for the fulfillment of needs for example spending of purchaser merchandise both durables and non durables. Utilization adds up to the greatest piece of Pakistan which represents 81% of Gross Domestic item in 2013 as per World Bank insights. Utilization is additionally named as the absolute spending on products and ventures in an economy. The utilization work is utilized to evaluate the extent of all out utilization in an economy. In sociologies, the utilization work is a used to communicate pattern of customer spending as salary of individuals rising and falling. Utilization work gives a magnificent outline of a run of the mill grouping in the improvement of the nation and way of life of the individuals. Bentham (1748) additionally thought about creation and its use as significant determinants of an economy. The procedure of utilization was imperative for any framework to support. Keynes (1936) addresses the hypothesis of utilization, which demonstrated the connection between purchaser salary and utilization. As indicated by Keynes, â€Å"People by and large, have conduct that when their salary increment, they spend more, yet not as much as their pay raises. It is comprised of self-sufficient utilization that was not a ffected by current pay and incited utilization that was impacted by the economy’s pay level. Chow et al. (2001) did an examination about the Chinese economy and Chinese business visionaries who had developed alongside the Chinese economy. This examination paper investigates the utilization propensities for low and high pay business class and inferred that independent companies wages are passing and progressively temperamental thus their utilization is less and they will in general spare more then again business people who win more and to a great extent spend on dinners, moving from one spot to other, private conventional training and costly things as their wages were changeless and stable over some stretch of time. Socio-segment factors, geographic areas of family unit effectsly affect the preferences and inclinations. Thus, assembling and mingling exercises of shoppers that were completed are the second biggest cost in their financial plans as they need a ton of systems administration to succeed the business. In any case, low pay class spends a bigger measure of their pay o n medical problems, instruction of their masses. Tai and Tam (1997) talked about the utilization conduct of females that was changing due to theâ different financial factors, for example, deferred marriage, littler family size and single parentsâ have lead to changing elements of buyer showcase thus the customer inclination wereâ changing and utilization example of the families. Siddiquie (1982) investigated the utilization designs dependent on the Engle law regarding salary, family unit size and number of workers. The investigation indicated that the utilization of food and non-food things was firmly influenced by the adjustments in all out uses and size of families. Utilization designs in Pakistan have been evaluated by Burki (1997) utilizing time arrangement information. By utilizing Almost Ideal Demand System (AIDS) strategy and information from 1972-1992 there was an exogenous development in non tough food things request regardless of the developments in their costs and development. Study centered that the arrangement producers should concentrate on own value flexibility to anticipate effect of assessments. This examination will be created based on Household Consumption in Rawalpindi. The examination will incorporate both cross-sectional and time arrangement information of buyer conduct. Poll will likewise be created to address the investigation adjacent to auxiliary sources. In this examination econometric model will be created by taking salary, age, family size, customer value record as free factor and family unit utilization as needy variable. Use on food things will be utilized as an intermediary variable. 1.1 Objective of the investigation: The goals of the investigation are as per the following: To dissect the centrality of segment factors (family size, age) on family unit utilization use in Rawalpindi. To concentrate experimentally the effect of financial variables (salary, buyer value record and family unit utilization use in Rawalpindi) 1.2Significance of the investigation: Utilization is the sole reason and most compelling motivation because of which every single financial movement starts extending from employing of administrations of components, putting away cash, developing processing plant or constructing and some more. As though there is no utilization in any general public there is no requirement for exercises of any kind extending from maintaining a business or utilizing some place in any way. In short it is the utilization with the goal that economies exuberant exist in any case not. Utilization is a significant capacity of salary however there are numerous different variables that impact theâ consumption design there are rate when two families with same pay level may haveâ different utilization design because of way of life, inclination and the phase of life cycle they are in as aâ household extraordinarily influences the utilization designs. Every one of these investigates attempt to investigate the behaviorâ patterns that are significant for trim the utilization design every one of these explores have addedâ different key reasons and not a solitary research as had the option to think of any normal behaviorâ traits in the various social orders of the world this wonders show that the utilization patternsâ changing as per society the house hold dwells in. Salary is the principle part on which the utilization depends. The investigation will join the causal connection between family unit utilization to pay and family utilization to shopper value list which is the significant and new in this examination when contrasted with the work done before. This investigation will be a bird’s eye see about each resident utilization design which is influenced by large scale monetary factors and segment factors. Audit of Literature: Thomas (1993). In this paper he attempted to see if all family unit individuals share same inclinations or they were directed by any one individual from the family unit. They reached a resolution that when salary was in hands of females portions of use increments towards lodging, instruction, wellbeing, family unit administrations and entertainment when guys were given the spending they will in general spend overabundance on wellbeing, family administration and amusement. Training was viewed as interceding variable for winning consequently increment in utilization, so they barred instruction from interest work and incorporate it as a legitimate instrument for complete salary. The specialists have arrived at these resolutions by leading straight and quadratic models on the went along information Carroll et al. (1994) led an examination about propensity arrangement that utilization was occurred at same level when a family unit was loathing same degree of pay as it did already. Furthermore they attempted to examine the effect of shopper feelings on the utilization designs considering into contemplations the different financial factors. They precluded lasting pay and unadulterated life cycle speculation and expressed shopper spending was a muddled proportion of vulnerability when vulnerability expanded the degree of utilization tumbled down henceforth prompting prudent investment funds. Fei et al. (2003) led an exploration clarifying the reality how youngsters impacted the spending examples of family and in about 27.8% of families, children’s utilization utilized 33% of the family’s all out pay. In 35.6% of families, children’s utilization utilized 40% of the family’s absolute pay. In 19.4% of families, children’s utilization took one portion of the family’s salary. What's more, in 7.4% of families, children’s utilization took more than one portion of the family’s salary. Consequently in many families, the child’s utilization level was higher than the normal per capita utilization of the family. He featured different factors, for example, advanced education levels for kids including additional sums paid for private schooling and tutors.Moreover increasingly recreational exercises and top of the line devices like mobiles telephone, workstations and expanded costs towards medicinal services of the youngste rs. Khan and Dhar (2004) did an exploration on social choice hypothetical point of view on epicurean and utilitarian decisions and they discovered that distinction among buy and utilization of products and administration. The investigation discovered that there was an exceptionally dainty line which customer doesn't understand and dynamic of utilization was only influenced by pay, inclination and way of life of the purchaser. Aydin (2006) did the examination about the utilization designs in Turkey’s distinctive financial classes and found that globalization has prompted change, reconfiguration and reformulations of class structure and this was prompting social movements from class based legislative issues to character governmental issues, philosophy to ways of life and large scale manufacturing to utilization these powers have fuelled the social change consequently prompting rises of new white collar class carrying on with another recreation way of life. The exploration reapproved the way that social class factors significantly affected consumption.Income had the most grounded constructive outcome at all the utilization level all the while. Instruction had affected the class separation, i.e., the gathering with advanced education had wagered

Anna and Emma and the arts :: essays research papers

     The expressions, in a wide range of structures, assumed a significant job in the occasions and results of both Emma’s and Anna’s life. Expressions of the human experience affected significant choices in both of the characters lives. Regardless of whether it was an underlying sparkle or a main thrust, workmanship assumed numerous jobs.      Even however they at first met at the train station, the met by and by at a ball the two of them join in. While they were at the ball they fell into their daily practice of moving and mingling. Vronsky searched out Anna when he saw her however when they at long last met up just because, that would be the start of the end for Anna. They were at the time and the music helped put them two of every a daze with one another. This was the first occasion when that expressions of the human experience were associated with Anna and Vroksky meeting up. This ball caused Anna incredible energy inside her yet in addition made some torment Kitty. At the point when Kitty saw them together she knew, directly at that point, she had lost Vronsky to Anna. She was sorry to Dolly for any hurt emotions that may have emerged at the ball with Kitty. I feel that underneath her discussion with Dolly, Anna delighted in the influence that she had on Vronsky. At the point when she at last gets back from the energizing ball, her life at home doesn't energize her as she suspected it would.  â â â â These balls and kinds of gatherings are something that were ordinary to Anna. In her group, society, and close to companions, these occasions are of ordinary event. The main craftsmanship that Anna participates in is simply the best her class has accessible to her. She is high in status in her marriage with Karenina. They have a status and hope to maintain. They drag each other to these incredible moving balls or tremendous gatherings and drink and discussion about old news without fail.      Vronsky thinks about this sort of class enough to know the correct individual who knows the opportune individuals. It was about who you were companions with and what your identity was associated with. The general public of balls and gatherings was the inclination for Anna. Vronsky realized they would meet at these sorts of occasions. Vronsky played human expressions the correct method to vanquish his â€Å"fair maiden.†      Anna additionally gets an opportunity to see Vronsky in an alternate manner when they went to the races.

CP5 MindMapping and Task Management with MeisterLabs - Podcast with Michael Hollauf

CP5 MindMapping and Task Management with MeisterLabs - Podcast with Michael Hollauf BUSINESS MODEL OF MINDMEISTERMartin: Great. Michael, let’s talk about the business model. So, when you first launched the model, it was something like as you said a free model but later on you added a freemium model. Can you elaborate a little bit on that? So how did this evolve and how did it work?Michael: Actually, we did have â€" right from the launch; we had a freemium model. The only things we didn’t have were premium features. Yes, we had the pricing plan as well as the whole billing system so you could use a credit card and everything, but we didn’t really have features that were available to the freemium version. The funny thing was though that from Day 1 â€" and I think actually on Day 2, the first person paid, you know, a huge amount, I don’t know the cost back then, I think 30-40€, but they paid because they liked the product without having any need to pay. So that was pretty interesting. I mean, obviously the real payments in higher numbers only came when they a ctually had premium features and when we started to put up some restrictions on the free usage, they have to do otherwise, you won’t be able to sustain your business.Martin: And how did you try to balance growing the customer base which is, from I understand, you’re mainly driven by signing up free users and secondly, balancing this with developing, let’s say, premium features so you can monetize them because you are only having limited resources? How did you try to balance those two things?Michael: Another very good question. It’s at a point where we always have this question about it and still do it actually. But for a long time, actually still up to now, we went more for the giving away free as much as you can to increase virality to get in front of as many people as possible who if they don’t pay, might at least invite other people, you know, that might help you grow virally and try to make the features so that people who that are actually using it, not only profession als but definitely the ones who use it professionally and for business purposes but also who use it really more deeply, that they will pay. You let special users in it for free because in the end of the day, they are unlikely to pay for it anyway if I’m honest, and the ones who use it really deeply; you try to convert by adding features, that they would need, into the premium plan.Martin: How did I come to it, think about MindMeister before I was doing some memory training and I was thinking about: “Okay, what type of cool business application could I start? And then I came to MindMeister and it looked very, very simple and easy to me. So now, the question is: What are the reasons you keep out competitors out of the way? What is the secret sauce? Is it the scale, is it the simplicity, is it just because you’re somehow market leader in this kind of segment already?Michael: I think all of it placed together a little bit. We were the first to launch but not by a lot. Actually, I think about two months after we launched, the first competitor came along with you know, quite a similar solution, he was technically different, it was actually flash-phase back then, the competitor. It was the same browser-based mind-mapping.Yes, the thing is that definitely something we always prowess one of our USPs is simplicity â€" the focus on usability, on simplicity, on a beautiful design that we try and update regularly and keep fresh and keep modern, also again try and focus on a simple user interface that doesn’t overload the user, that keeps the learning curve quick and steep and that’s what we still do with that product with all the other products as well. At least I believe it’s one of the keys to success for all kinds of apps.Martin: And when this competitor arose like two months after you’ve launched, what had been your thought or reactions to that?Michael: Desperation, initially. In the first few years, whenever a new competitor came along, we would be quite depressed and think: “Oh god, what if they do it so much better than we do?”, “What if, they take our market away?” It hasn’t happened fortunately. If you stay on the ball, if you keep pleasing the users, keep making your app better, keep providing it with service, it’s unlikely to happen, unless Facebook or whoever decided to enter your niche. It hasn’t happened and we learned to live with it much better. So these days when we see a new app, we’re like: “Right, okay, so yup, looks good but we’ve come a long way and I think they will have to come a long way as well.Martin: Can you elaborate a little bit on the current team set-up and what is actually your focus? Are you seeing yourself more like a, let’s say, marketing customer acquisition company or are you perceiving yourself more as a tech company or maybe something totally different?Michael: I think we would like to perceive ourselves as a marketing growth customer acquisition company but if we’re being honest, we’re a tech company. That’s not a bad thing in itself either. My co-founder, Till and I were both techies from our background, we’re still techies at heart, I think. Although in the last years we focused much, much more on things like marketing, growth and even finance â€" all these things, you have to obviously do if you run a company. So we do that much, much more with built teams there to do that, but in the end of the day, after everything, I think it’s the product that counts. You have to have a great product, you have to provide a great service, you can increase your success obviously with marketing but I think no amount of amazing marketing could turn a dot into a gold nugget.Martin: And how many free users that you need to acquire so you c ould become cash flow-neutral at least after many months?Michael: I think as we had about a hundred thousand users or something in free users in total that, I think, that that wasn’t breakeven yet. But I think it was bet ween a hundred thousand and three hundred thousand, somewhere there we had a monthly recurring revenue that helped us pay the costs, running costs of the company. Well, we were only free people back then, still it wasn’t a huge running cost. But like I said, we focused a lot on getting many users so the conversion rate wasn’t amazing to paid users so we needed quite a lot of free users to actually pay the costs, but it grew quite quickly.Martin: Good. And at what point of time did you think about adding another product and creating, let’s say, an overall brand like MeisterLabs?Michael: Early on, about three years ago I would say. So we launched it nine months ago, we took our time building the second product; we wanted to make it really good. It took about two years actually. But we saw a few things:First of all we saw: mind-mapping is a stage in a process and it’s usually the first stage in a project. Three years heavily in the start phase of a project, when you exchange id eas, when you brainstorm, when you map out your project, and then comes a point when you go into implementing the project and working on everything. Then you need a different tool, and we saw a lot of users dropping off, of MindMeister maybe coming back a couple of months later for the next project but actually dropping off. We said, “Okay, let’s, you know, it’s a shame that they have to move to another tool because we don’t provide anything for them.”So we thought: “Okay, that would be a nice point to offer them a product that’s integrated with MindMeister and supports them in that second phase of the project.” We thought there’s lots of task mission tools around, of course it’s a huge market, it’s a very important market and we thought we have a lot of ideas that could make it nice, make it very usable, very simple, combine some of the things we like in other tools and create something we hope users will like.Martin: Why did it take you two years to develop t his prototype? And second question would be, lots of start-ups have the belief that: “Let’s ship it early, get the customer feedback and then iterate on the live product” which apparently you did not do.Michael: Exactly, yes. I have to say, looking back I’m very happy with the result, it is one thing. We took our time, we took a long time, we went through many iterations of design and so on and when we shipped, it was a really, really good product. But, looking back, I think we should have probably come the other way, we should have done it quicker, come up with something quicker, got feedback faster. That’s what we’ll probably try to do working in the next product. That is a lesson learned, I would say. Although again, I couldn’t say if the result would be the same. You know, looking back now you don’t know what would’ve happened if you went the other way. Taking too long with a product has a lot of drawbacks apart from the fact that you know, we came up later, we did. You know, you have to keep your team motivated and developers as well, if you take too long to bring out something, obviously the market moves. So my take away from that experience was next time spend more time on a smaller initial prototype and try to ship it faster.Martin: When you started with the company, you had a very limited scope of what you wanted to achieve, like for example with MindMeister, and then adding further products. For me, the question is what is the bigger vision which combines those different product ideas?Michael: Well, the bigger vision is to cover the entire creative process inside a high-tech company, so to speak, because that’s our target market, our main target market. The creative process, I mean creative project that starts out with a brainstorming bit, product development bit, and some sort of marketing campaign bit, anything else. Right now we cover the first two phases, the brainstorming phase and the actual project carrying out. There is a missing piece at the end, there we have some ideas for that as it is one missing piece in there and we might come out with it with a product that covers something there and closes the circle to the next project.Martin: How are those products integrated? So, for example I look at MindMeister, how is it then integrated to MeisterTask?Michael: When you’re in MindMeister, you can switch on MeisterTask toolbar and you can connect each mind-map with a project, so to speak. And if it’s not connected you can just right from there, create a project for this mind-map, although I’ve made a mind-map that’s connected with the same project and all that. So, let’s say kind of a one-to-many relationship there. And then in the toolbar you’ll see all the people that are in your project. You see little avatars from photos of them, and you can very easily just drag any mind-map node, any topic onto one of those avatars and what it’ll do, it’ll create a task for that person in the projec t.We, for example, we a lot our weekly meetings, and in weekly meetings we mind-map all the things we go through and then, with that okay, so that’s actually that’s something that, you know, Andrei has to do. So, we make the task and we drag it onto his face and he has the task assigned and the project management system and he can start working on it after the meeting.Martin: What’s the idea of MeisterTask based on several customer requests or was it more of a vision of you both that you said: “Oh, it would be very interesting if we are working on this creative process and therefore the next logical step would be this although customers didn’t request it.”?Michael: We had many customer requests to enhance the task management functionality in MindMeister. In fact, there’s a little bit of a task management functionality there like all mind-mapping tools, they allow you to sign a priority onto a node and the person and due date. But it’s very, very lightweight, so it ha s no follow-through, no process behind it. It is also very little, in terms of task functionality.Customers wanted more there. So it was visible customers used it for task management as well but we didn’t want to blow up a, sort of, partial functionality of a mind-mapping tool and then make it into a mind-mapping tool more complex, more low fit. We thought: Okay, since this is something different what people do, then this should be done in a dedicated tool.Martin: One option would have been if Im having this kind of modular market where I’m having mind-maps and I perceive you as a clear market leader in that. And now you’re entering into another market which is more task related etc. So, did you receive some kind of reaction from the other task-related companies that were just adding mind-mapping functionality, and then the competitions in those two markets are even increasing?Michael: We haven’t seen that yet as such. I think it terms of market size the mind-mapping market is a very focused but still very niche market. Usually when companies are in a market of a certain size, they expand into bigger, adjacent markets. They usually don’t expand so much into smaller adjacent markets. So we haven’t seen many task management tools expanding into mind-mapping. We see quite a few of our mind-mapping competitors adding task management but they usually do it differently, they add some more functionality into their product.ADVICE TO ENTREPRENEURS FROM MICHAEL HOLLAUFMartin: So Michael, over the last let’s say ten to thirteen years, what have been the major learnings that you can share with other people starting a company? Like some the stupid mistakes an entrepreneur can do, or maybe some very cool things he should do?Michael: Well, that could potentially be quite long. People interested in the story, there’s this article on TechCrunch that kind of tells our story, in quite details.Whenever I talk about the learnings from 7, 8, 9 years ago, I always me ntion the fact that this was 7, 8, 9 years ago and that also the market, the internet market, SaaS market has moved a lot since then. So, when I talk about the way we launched with a private beta, had invited people, gave them invitations, that’s something that worked back then. Quite uncertain whether it would work as well now because many people have done it and the market has changed and you need to shout much louder these days to get their attention than you used to so many years ago.But I think some of the other learnings are still quite valid for example: the other one I mentioned is focus on making your product usable, focus on the user, try to give him a nice feeling when he uses it. That is one key to success that we’d had, modest as it may be compared to some other companies out there of course. But I still believe that that’s one of the big things and we are not ready to compromise on usability doing anything. So we will discuss any small user interface change in th e name UI for a very long time to make sure that it doesn’t make things more complex or scare users off. So that is something we are good at.Some of the things that we’ve learnt over the years that we weren’t so good at, we also learned that they were important, have to do with obviously with marketing, with analytics especially. So analytics is one of the things that everyone knows is hugely important. In terms of measure, how your tool is used, measure what your users do, measure the conversions, all your key metrics, beware of key metrics. But I think at the same time, everyone who knows how important it is, very few actually know the numbers very well or do enough on that side. And that’s something that becomes more difficult to do the more you grow. So, if you start up with a small tool, and you build all the analytics and your measurements right in the beginning that’s much easier than if you do it years later when you have quite a large tool.Martin: You said that an alytics is very important. In the beginning, you didn’t know how your valid proposition and business model will look like because you’re iterating, etc. Do you think it’s a very good idea to have analytics from day one although you do not know what it is because it costs money to set up analytics, analyze etc, etc? Or do you think even though you should be very agile and iterative, still analytics should be done on day one?Michael: Yes, I think it should be. Like I said, it’s very easy to build it into a small product and I don’t think there’s any real cost associated with it if you don’t have a lot of traffic yet. Most of the tools that are out there will let you use it for free up to I don’t know how many thousands of impressions per day or logs per day. Once you grow, it’ll cost money but then you could hopefully afford it. It just helps you know your business, it helps you to keep things simple because if you measure everything you will also not run the risk of building too complex work flows into your tool, billing flows, conversion flows, and sign-up flows because it’s hard to measure them.The other thing we’ve learned, we’ve had quite a difficult set-up of ­ ­in terms of 30-day-free-trial with or without the credit card. And we actually went back and made everything much, much simpler. First of all, it is better for the user, easier to understand for the user, and second, because it’s much easier to measure.Martin: What tools can you recommend for analytics?Michael: So, we are using a mixture at the moment. One of the tools is everyone talks about is quite good, really, it’s Amplitude as it lets you log real, granular user events inside your app and see what users do, look at funnels about what they’re doing in the app. We still use Google Analytics for main SEO things.There is a couple of other SEO tools, on-page optimization tools and so on that are out there but there’s really too many to make any clear recommendation . We use on-page, we use search metrics, we use a few of those but take your pick. Something is better in each of the tools but overall, as long as you use something, that’s good enough.Martin: And when you wake up in the morning, what are the 3 to 5 key metrics you are totally interested about in order to assess whether your business is running well or not?Michael: When I wake up in the morning I usually unfortunately think of the tech things. I should think about those key metrics more. But some of the things we’re deeply looking at are, with intention, something we’re looking into very much in MindMeister. So, we look at different things in different products. In MindMeister retention is our focus and that’s because, like I mentioned before, it’s a bit of a seasonal product â€" you use it when you start a project, and you map it out, you create a couple of mind maps, share them with friends. Then when you fund that, you go away maybe for a long time and maybe come back. So our goal with that tool is build it into the usual work lifes of people more like we use it on an on-going basis and there we focus on retention. We have a lot of new users and we have four to five thousand new users per day, still growing, it’s pretty amazing. It’s important to show the people what they can do with the tool and keep them as users.With MeisterTask, it’s different. MeisterTask is a much more techy product once you use it because once you had a project there, once you had a task in there, unless you manage to finish them all, you will continue to use it, you know, you can continue to make more tasks, continue to share it with people. There, for us it’s more important to show people this is here as well, so this is an alternative if you’re using, let’s say, Asana, Wunderlist, or Trello, have a look at this because we think it’s better for these and these reasons. Most of the people who’ve seen it have agreed and the challenge there is how to get in front of those people.Martin: Great. Michael, what other learnings did you perceive over the years?Michael: So one other thing we’ve seen is it’s also been the way we’ve developed the second product, MeisterTask. If you had a problem and you don’t find a solution out there or you don’t find that you like and you then build a product to solve that problem for you then it’s quite likely, very likely so to speak, that there will be others out there, probably many others who had have that same problem and for whom you will help solve the problem with your product, so to speak. We did this with MeisterTask, we had this problem ourselves, how do we do our tasks after we’ve the mind-mapping. We built something that we wanted to use that helps us in our product development in our company, helps not only the tech team but also helps the marketing team and the sales team to manage their projects. So, we looked at companies our type, our size with different departments that would like to use an all-in-one tool together and built it for that. And we looked at the second characteristic as well there, we looked at companies â€" small companies like ours that work with freelancers, we have an external designer, we have an external iOS, Android developers and so on. And so we built the tools so that it also works for those people. You can write there, they have access to it, they don’t have to use only that and you can look at this use case and when we launched it had seemed that we weren’t the only ones who had that problem. So I think, build something for yourself that you really happy with and others will follow, so to speak.Martin: Great. Michael, thank you so much for sharing your insights and if you’re looking for a great task manager, check out MeisterTask. Thanks!Michael: Pleasure.THANKS FOR LISTENING! Welcome to the fifth episode of our podcast!You can download the podcast to your computer or listen to it here on the blog. Click here to subscribe in iTunes. Martin: Hi. This time we have a one â€" or long-time favourite of mine, who is Michael from MindMeister. I can remember when I was still at university, I thought to myself: “Hmm, maybe I should start mind-mapping a company myself.” When I saw Michael, I said: “Hmm, maybe I would look for another business modeller.” Hi Michael! Who are you and what do you do?Michael: Hi Martin! Thanks for having me. First off, I didn’t know you â€" almost became a competitor â€" but you know I’m glad you didn’t. So my name is Michael Hollauf. I’m an Austrian and I now run, together with my co-founder, Till Vollmer, I run a company called MeisterLabs and we have two products. One of it you mentioned, it’s MindMeister for online-based mind-mapping tools and the second one is MeisterTask, it’s a collaborative Canban-style task manager that is fully integrated with MindMeister and a few other tools as well. We just launched last year.Martin: Great. How did you start this company?Michae l: Actually, we’re coming up to the 10th anniversary of the company founding this February, so next month.Martin: Congrats.Michael: Thank you. The product MindMeister itself has been around for good eight â€" eight and a half years. We launched it about a year after we founded the company. We’ve got a story behind us out there.Martin: And what did you do in those, like, twelve or eighteen months before you launched MindMeister? Did you work on other ideas first and then iterate it? Or was the vision, “Yes, we like to do something like mind-mapping but maybe we’ll just work on the prototype maybe during our spare time and if we see some traction then we will switch to it full-time.”?Michael: Yes, it was a bit like that. All I can grew out of another company that we founded three years before. Till and I were at an outsourcing company. We had a team of Java and Rubin developers in Romania and we did projects for other companies. And when you have, sort of, a service company, you have a lot of work to do in the one side but you also have downtimes when you have fewer projects, you have, sort of, free time with the people. And we tried out a few ideas â€" different things like 3-4 ideas like I would say, small tools. One of them was an online browser-based mind-mapping visualization. That kind of really felt right so we developed it further and then I think we started to found the company that would be a product company, would be MeisterLabs. In the 12th month before the launch, we just developed a product for that.Martin: And what made you think: “Oh, maybe we are on the right track with Mind Meister back then”? So did you receive some great traction in terms of user acquisition? Because I still can remember the first time I saw you, you had something like 1,000 or 10,000 subscribers which wasn’t that much back then. But was it something like this type of market validation or was it some kind of radar customer feedback which made you think: “Yes . We’re on the right track.”?Michael: So, the first feeling we got that we were on the right track was just from us personally and showing it to our friends, trying it out with people inside the company. We all thought: “This works better than we thought; there could be a market for this”. And then after that, it was a private beta launch like you mentioned, in that private beta launch we got a lot of feedback really quickly. So we started with an invitation of about 200 people and I think within a couple of days, we had a thousand people there. So those 200 people invited had invited other people and it quickly became a thousand and then, actually, within two or three weeks, to ten thousand people. The fact that people invited others and sent the link around showed us, alright, this sure is something that some people at least have been waiting for.BUSINESS MODEL OF MINDMEISTERMartin: Great. Michael, let’s talk about the business model. So, when you first launched the mode l, it was something like as you said a free model but later on you added a freemium model. Can you elaborate a little bit on that? So how did this evolve and how did it work?Michael: Actually, we did have â€" right from the launch; we had a freemium model. The only things we didn’t have were premium features. Yes, we had the pricing plan as well as the whole billing system so you could use a credit card and everything, but we didn’t really have features that were available to the freemium version. The funny thing was though that from Day 1 â€" and I think actually on Day 2, the first person paid, you know, a huge amount, I don’t know the cost back then, I think 30-40€, but they paid because they liked the product without having any need to pay. So that was pretty interesting. I mean, obviously the real payments in higher numbers only came when they actually had premium features and when we started to put up some restrictions on the free usage, they have to do otherwise, you won’t be able to sustain your business.Martin: And how did you try to balance growing the customer base which is, from I understand, you’re mainly driven by signing up free users and secondly, balancing this with developing, let’s say, premium features so you can monetize them because you are only having limited resources? How did you try to balance those two things?Michael: Another very good question. It’s at a point where we always have this question about it and still do it actually. But for a long time, actually still up to now, we went more for the giving away free as much as you can to increase virality to get in front of as many people as possible who if they don’t pay, might at least invite other people, you know, that might help you grow virally and try to make the features so that people who that are actually using it, not only professionals but definitely the ones who use it professionally and for business purposes but also who use it really more deeply, that th ey will pay. You let special users in it for free because in the end of the day, they are unlikely to pay for it anyway if I’m honest, and the ones who use it really deeply; you try to convert by adding features, that they would need, into the premium plan.Martin: How did I come to it, think about MindMeister before I was doing some memory training and I was thinking about: “Okay, what type of cool business application could I start? And then I came to MindMeister and it looked very, very simple and easy to me. So now, the question is: What are the reasons you keep out competitors out of the way? What is the secret sauce? Is it the scale, is it the simplicity, is it just because you’re somehow market leader in this kind of segment already?Michael: I think all of it placed together a little bit. We were the first to launch but not by a lot. Actually, I think about two months after we launched, the first competitor came along with you know, quite a similar solution, he was techn ically different, it was actually flash-phase back then, the competitor. It was the same browser-based mind-mapping.Yes, the thing is that definitely something we always prowess one of our USPs is simplicity â€" the focus on usability, on simplicity, on a beautiful design that we try and update regularly and keep fresh and keep modern, also again try and focus on a simple user interface that doesn’t overload the user, that keeps the learning curve quick and steep and that’s what we still do with that product with all the other products as well. At least I believe it’s one of the keys to success for all kinds of apps.Martin: And when this competitor arose like two months after you’ve launched, what had been your thought or reactions to that?Michael: Desperation, initially. In the first few years, whenever a new competitor came along, we would be quite depressed and think: “Oh god, what if they do it so much better than we do?”, “What if, they take our market away?” It hasn’t happened fortunately. If you stay on the ball, if you keep pleasing the users, keep making your app better, keep providing it with service, it’s unlikely to happen, unless Facebook or whoever decided to enter your niche. It hasn’t happened and we learned to live with it much better. So these days when we see a new app, we’re like: “Right, okay, so yup, looks good but we’ve come a long way and I think they will have to come a long way as well.Martin: Can you elaborate a little bit on the current team set-up and what is actually your focus? Are you seeing yourself more like a, let’s say, marketing customer acquisition company or are you perceiving yourself more as a tech company or maybe something totally different?Michael: I think we would like to perceive ourselves as a marketing growth customer acquisition company but if we’re being honest, we’re a tech company. That’s not a bad thing in itself either. My co-founder, Till and I were both techies from our background, we’re still techies at heart, I think. Although in the last years we focused much, much more on things like marketing, growth and even finance â€" all these things, you have to obviously do if you run a company. So we do that much, much more with built teams there to do that, but in the end of the day, after everything, I think it’s the product that counts. You have to have a great product, you have to provide a great service, you can increase your success obviously with marketing but I think no amount of amazing marketing could turn a dot into a gold nugget.Martin: And how many free users that you need to acquire so you c ould become cash flow-neutral at least after many months?Michael: I think as we had about a hundred thousand users or something in free users in total that, I think, that that wasn’t breakeven yet. But I think it was between a hundred thousand and three hundred thousand, somewhere there we had a monthly recurring revenue that helped us pay the c osts, running costs of the company. Well, we were only free people back then, still it wasn’t a huge running cost. But like I said, we focused a lot on getting many users so the conversion rate wasn’t amazing to paid users so we needed quite a lot of free users to actually pay the costs, but it grew quite quickly.Martin: Good. And at what point of time did you think about adding another product and creating, let’s say, an overall brand like MeisterLabs?Michael: Early on, about three years ago I would say. So we launched it nine months ago, we took our time building the second product; we wanted to make it really good. It took about two years actually. But we saw a few things:First of all we saw: mind-mapping is a stage in a process and it’s usually the first stage in a project. Three years heavily in the start phase of a project, when you exchange ideas, when you brainstorm, when you map out your project, and then comes a point when you go into implementing the project and w orking on everything. Then you need a different tool, and we saw a lot of users dropping off, of MindMeister maybe coming back a couple of months later for the next project but actually dropping off. We said, “Okay, let’s, you know, it’s a shame that they have to move to another tool because we don’t provide anything for them.”So we thought: “Okay, that would be a nice point to offer them a product that’s integrated with MindMeister and supports them in that second phase of the project.” We thought there’s lots of task mission tools around, of course it’s a huge market, it’s a very important market and we thought we have a lot of ideas that could make it nice, make it very usable, very simple, combine some of the things we like in other tools and create something we hope users will like.Martin: Why did it take you two years to develop this prototype? And second question would be, lots of start-ups have the belief that: “Let’s ship it early, get the customer feedback and then iterate on the live product” which apparently you did not do.Michael: Exactly, yes. I have to say, looking back I’m very happy with the result, it is one thing. We took our time, we took a long time, we went through many iterations of design and so on and when we shipped, it was a really, really good product. But, looking back, I think we should have probably come the other way, we should have done it quicker, come up with something quicker, got feedback faster. That’s what we’ll probably try to do working in the next product. That is a lesson learned, I would say. Although again, I couldn’t say if the result would be the same. You know, looking back now you don’t know what would’ve happened if you went the other way. Taking too long with a product has a lot of drawbacks apart from the fact that you know, we came up later, we did. You know, you have to keep your team motivated and developers as well, if you take too long to bring out something, obvio usly the market moves. So my take away from that experience was next time spend more time on a smaller initial prototype and try to ship it faster.Martin: When you started with the company, you had a very limited scope of what you wanted to achieve, like for example with MindMeister, and then adding further products. For me, the question is what is the bigger vision which combines those different product ideas?Michael: Well, the bigger vision is to cover the entire creative process inside a high-tech company, so to speak, because that’s our target market, our main target market. The creative process, I mean creative project that starts out with a brainstorming bit, product development bit, and some sort of marketing campaign bit, anything else. Right now we cover the first two phases, the brainstorming phase and the actual project carrying out. There is a missing piece at the end, there we have some ideas for that as it is one missing piece in there and we might come out with it w ith a product that covers something there and closes the circle to the next project.Martin: How are those products integrated? So, for example I look at MindMeister, how is it then integrated to MeisterTask?Michael: When you’re in MindMeister, you can switch on MeisterTask toolbar and you can connect each mind-map with a project, so to speak. And if it’s not connected you can just right from there, create a project for this mind-map, although I’ve made a mind-map that’s connected with the same project and all that. So, let’s say kind of a one-to-many relationship there. And then in the toolbar you’ll see all the people that are in your project. You see little avatars from photos of them, and you can very easily just drag any mind-map node, any topic onto one of those avatars and what it’ll do, it’ll create a task for that person in the project.We, for example, we a lot our weekly meetings, and in weekly meetings we mind-map all the things we go through and then, with that okay, so that’s actually that’s something that, you know, Andrei has to do. So, we make the task and we drag it onto his face and he has the task assigned and the project management system and he can start working on it after the meeting.Martin: What’s the idea of MeisterTask based on several customer requests or was it more of a vision of you both that you said: “Oh, it would be very interesting if we are working on this creative process and therefore the next logical step would be this although customers didn’t request it.”?Michael: We had many customer requests to enhance the task management functionality in MindMeister. In fact, there’s a little bit of a task management functionality there like all mind-mapping tools, they allow you to sign a priority onto a node and the person and due date. But it’s very, very lightweight, so it has no follow-through, no process behind it. It is also very little, in terms of task functionality.Customers wanted more there. So it was visible customers used it for task management as well but we didn’t want to blow up a, sort of, partial functionality of a mind-mapping tool and then make it into a mind-mapping tool more complex, more low fit. We thought: Okay, since this is something different what people do, then this should be done in a dedicated tool.Martin: One option would have been if Im having this kind of modular market where I’m having mind-maps and I perceive you as a clear market leader in that. And now you’re entering into another market which is more task related etc. So, did you receive some kind of reaction from the other task-related companies that were just adding mind-mapping functionality, and then the competitions in those two markets are even increasing?Michael: We haven’t seen that yet as such. I think it terms of market size the mind-mapping market is a very focused but still very niche market. Usually when companies are in a market of a certain size, they expand into bigge r, adjacent markets. They usually don’t expand so much into smaller adjacent markets. So we haven’t seen many task management tools expanding into mind-mapping. We see quite a few of our mind-mapping competitors adding task management but they usually do it differently, they add some more functionality into their product.ADVICE TO ENTREPRENEURS FROM MICHAEL HOLLAUFMartin: So Michael, over the last let’s say ten to thirteen years, what have been the major learnings that you can share with other people starting a company? Like some the stupid mistakes an entrepreneur can do, or maybe some very cool things he should do?Michael: Well, that could potentially be quite long. People interested in the story, there’s this article on TechCrunch that kind of tells our story, in quite details.Whenever I talk about the learnings from 7, 8, 9 years ago, I always mention the fact that this was 7, 8, 9 years ago and that also the market, the internet market, SaaS market has moved a lot since then. So, when I talk about the way we launched with a private beta, had invited people, gave them invitations, that’s something that worked back then. Quite uncertain whether it would work as well now because many people have done it and the market has changed and you need to shout much louder these days to get their attention than you used to so many years ago.But I think some of the other learnings are still quite valid for example: the other one I mentioned is focus on making your product usable, focus on the user, try to give him a nice feeling when he uses it. That is one key to success that we’d had, modest as it may be compared to some other companies out there of course. But I still believe that that’s one of the big things and we are not ready to compromise on usability doing anything. So we will discuss any small user interface change in the name UI for a very long time to make sure that it doesn’t make things more complex or scare users off. So that is something we are good at.Some of the things that we’ve learnt over the years that we weren’t so good at, we also learned that they were important, have to do with obviously with marketing, with analytics especially. So analytics is one of the things that everyone knows is hugely important. In terms of measure, how your tool is used, measure what your users do, measure the conversions, all your key metrics, beware of key metrics. But I think at the same time, everyone who knows how important it is, very few actually know the numbers very well or do enough on that side. And that’s something that becomes more difficult to do the more you grow. So, if you start up with a small tool, and you build all the analytics and your measurements right in the beginning that’s much easier than if you do it years later when you have quite a large tool.Martin: You said that analytics is very important. In the beginning, you didn’t know how your valid proposition and business model will look like bec ause you’re iterating, etc. Do you think it’s a very good idea to have analytics from day one although you do not know what it is because it costs money to set up analytics, analyze etc, etc? Or do you think even though you should be very agile and iterative, still analytics should be done on day one?Michael: Yes, I think it should be. Like I said, it’s very easy to build it into a small product and I don’t think there’s any real cost associated with it if you don’t have a lot of traffic yet. Most of the tools that are out there will let you use it for free up to I don’t know how many thousands of impressions per day or logs per day. Once you grow, it’ll cost money but then you could hopefully afford it. It just helps you know your business, it helps you to keep things simple because if you measure everything you will also not run the risk of building too complex work flows into your tool, billing flows, conversion flows, and sign-up flows because it’s hard to meas ure them.The other thing we’ve learned, we’ve had quite a difficult set-up of ­ ­in terms of 30-day-free-trial with or without the credit card. And we actually went back and made everything much, much simpler. First of all, it is better for the user, easier to understand for the user, and second, because it’s much easier to measure.Martin: What tools can you recommend for analytics?Michael: So, we are using a mixture at the moment. One of the tools is everyone talks about is quite good, really, it’s Amplitude as it lets you log real, granular user events inside your app and see what users do, look at funnels about what they’re doing in the app. We still use Google Analytics for main SEO things.There is a couple of other SEO tools, on-page optimization tools and so on that are out there but there’s really too many to make any clear recommendation. We use on-page, we use search metrics, we use a few of those but take your pick. Something is better in each of the tools but overall, as long as you use something, that’s good enough.Martin: And when you wake up in the morning, what are the 3 to 5 key metrics you are totally interested about in order to assess whether your business is running well or not?Michael: When I wake up in the morning I usually unfortunately think of the tech things. I should think about those key metrics more. But some of the things we’re deeply looking at are, with intention, something we’re looking into very much in MindMeister. So, we look at different things in different products. In MindMeister retention is our focus and that’s because, like I mentioned before, it’s a bit of a seasonal product â€" you use it when you start a project, and you map it out, you create a couple of mind maps, share them with friends. Then when you fund that, you go away maybe for a long time and maybe come back. So our goal with that tool is build it into the usual work lifes of people more like we use it on an on-going basis and there we focus on retention. We have a lot of new users and we have four to five thousand new users per day, still growing, it’s pretty amazing. It’s important to show the people what they can do with the tool and keep them as users.With MeisterTask, it’s different. MeisterTask is a much more techy product once you use it because once you had a project there, once you had a task in there, unless you manage to finish them all, you will continue to use it, you know, you can continue to make more tasks, continue to share it with people. There, for us it’s more important to show people this is here as well, so this is an alternative if you’re using, let’s say, Asana, Wunderlist, or Trello, have a look at this because we think it’s better for these and these reasons. Most of the people who’ve seen it have agreed and the challenge there is how to get in front of those people.Martin: Great. Michael, what other learnings did you perceive over the years?Michael: So one other thing we’ve seen is it’s also been the way we’ve developed the second product, MeisterTask. If you had a problem and you don’t find a solution out there or you don’t find that you like and you then build a product to solve that problem for you then it’s quite likely, very likely so to speak, that there will be others out there, probably many others who had have that same problem and for whom you will help solve the problem with your product, so to speak. We did this with MeisterTask, we had this problem ourselves, how do we do our tasks after we’ve the mind-mapping. We built something that we wanted to use that helps us in our product development in our company, helps not only the tech team but also helps the marketing team and the sales team to manage their projects. So, we looked at companies our type, our size with different departments that would like to use an all-in-one tool together and built it for that. And we looked at the second characteristic as well there, we lo oked at companies â€" small companies like ours that work with freelancers, we have an external designer, we have an external iOS, Android developers and so on. And so we built the tools so that it also works for those people. You can write there, they have access to it, they don’t have to use only that and you can look at this use case and when we launched it had seemed that we weren’t the only ones who had that problem. So I think, build something for yourself that you really happy with and others will follow, so to speak.Martin: Great. Michael, thank you so much for sharing your insights and if you’re looking for a great task manager, check out MeisterTask. Thanks!Michael: Pleasure.THANKS FOR LISTENING!Thanks so much for joining our fifth podcast episode!Have some feedback you’d like to share?  Leave  a note in the comment section below! If you enjoyed this episode, please  share  it using the social media buttons you see at the bottom of the post.Also,  please leave an h onest review for The Cleverism Podcast on iTunes or on SoundCloud. Ratings and reviews  are  extremely  helpful  and greatly appreciated! They do matter in the rankings of the show, and we read each and every one of them.Special thanks  to Michael for joining me this week. Until  next time!

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The Dash Gourmet A unique solution for your dining experience Business Plan July 16, 2007 Presented By: Ben Blum Rahul Kapasi Candice Lalor Elyssa McMullen Brian Reppert Suresh Selvarangan Jeff Tierney Executive Summary Dash Gourmet is a quick service deli on the cutting edge of technology, designed to serve a clientele consisting of busy corporate employees looking for a quick, yet healthy, dining experience. Dash Gourmet will feature traditional deli food: sandwiches, salads, etc., but will utilize unique technology designed to enhance and accelerate the customers’ dining experience. Each customer will be able to place their order themselves, either ahead of time on the internet or via a self service touchpad†¦show more content†¦Additionally, these locations could serve as secondary locations for future restaurant expansion. The restaurant will feature dining room seating for approximately 15 tables and will be equipped to serve up to 50 take-out customers per hour during peak lunchtime hours. Market Analysis Summary Market Segmentation The 2000 Census indicates that there are about 116,000 people living in the Edison/Woodbridge Area. Additionally, there are 1,305 corporate businesses in the area, employing about 16,000 employees between them. Target Market Segment Strategy Although the target market demographic for quick service restaurants is fairly broad, and The Dash Gourmet will capitalize on the overall market, the main target demographic that we are aiming to serve is the technologically savvy and busy corporate employee who is concerned with eating quickly and in a healthy manner. Market Needs Currently there are no sit down restaurants that utilize self-service ordering. The Dash Gourmet would be the first establishment to fill this need, which would be essential for the target demographic that we are serving, the computer-savvy corporate customer who cannot afford to spend too much time preparing lunch. Market Trends There are several favorable market trends in the Metro Park area including, a growing number of corporate entitiesShow MoreRelatedAssessment of Products and Services of Starbucks Coffee1385 Words   |  6 PagesCoffee is hot and cool. No longer just a commodity and a clichà ©, coffee-based specialty drinks are achieving new glamour status as the beverage of choice among the young and the hip. Gourmet coffee is becoming more of an away-from-home phenomenon. 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Fantasy and Poetry in Children’s Literature Free Essays

The two selections of literature are Cinderella for the fantasy story and a poem by Eloise Greenfield called â€Å"Tradition†. Both selections are from different cultural traditions, but portray positive messages to children and adults in today’s society. Every little girl dreams of finding her prince charming. We will write a custom essay sample on Fantasy and Poetry in Children’s Literature or any similar topic only for you Order Now There are more than 1500 different versions of â€Å"Cinderella† from cultures all over the world. The story of Cinderella has been in existence since 1865 and published by George Routledge. This fairy tale is one of the oldest and most familiar to young children that inspire them to believe anything is possible. The literary elements in Cinderella include the setting, characters, plot, conflict, climax, and ending. The setting was in a faraway kingdom a long time ago. The characters included a young girl name Cinderella, her stepmother, two stepsisters, the prince, and fairy godmother. The Plot of this fairy tale is a young girl who is being treated unfairly, but dreams of finding her true love. She is being mistreated by her stepmom and sisters and works as a maid in the home. Cinderella begs to go to a ball and is told she could go after all chores are completed. Once she completes the chores and finds a dress, she is maliciously attacked by her stepsisters and destroys her dress. Cinderella was shattered and thought she would never recover from this. The conflict in this story is the continual dislike from the stepmother and stepsisters against Cinderella. The climax is so exciting in this story. After Cinderella meets her fairy godmother, she dresses her in a beautiful gown and sends her to the ball, Cinderella forgets about the time and at 12:00 midnight her fantasy is over. She runs out of the ball and leaves her glass slipper. The prince is searching all over the kingdom searching for the girl who could fit the glass slipper. The ending to this fairy tale is every girl’s dream. The prince searched high and low searching for his princess. He sent his grand Duke to try the glass slipper on every girl in the kingdom and the shoe only fits one person. After Cinderella revealed she had the other glass slipper. This created one of the most romantic fairy tales ever. Cinderella and the Prince falls in love, marry, and live happily ever after. â€Å"Tradition† is a poem written by Eloise Greenfield, an Africa American poet in 1988. Eloise was born in 1929 in North Carolina; this was in the early days of the Great Depression. Eloise was influenced by memories of her childhood, observations, and stories she had read about. The literary elements in the poem include the setting, characters, plot, conflict, climax, and ending. The setting in this poem was a long time ago in a southern state. The character in this poem is any person who has worked hard throughout his or her lives with no worry of failure or fear. The plot in the poem is to live, learn, and give back to others. The conflict in this poem is dealing with self. She can achieve anything in life if she works hard and want it bad enough. The climax is rising to the occasion. If she is able to overcome adversity and focus on her goals, regardless of the many things you have been through. Success is the end of this poem. How to cite Fantasy and Poetry in Children’s Literature, Papers

Snapchats Updates Causing Controversy Essays -

Dr. Cottrill ENG-101 25 March 2015 Snapchats Updates Causing Controversy The New Snapchat Update is rapidly rising as the #1 most used app. It has caused a rave amongst all its users this year. Snap Chat developers have changed on what we expect on mobile apps. It has built so much popularity with teenagers and young adults, most are saying its the hottest Social networking tool since the release of big time apps like Twitter in 2008. Snapchat has given all media publishers a new standard to go by. I say this because, most apps and social networks dont have or arent capable of what Snap Chat is able to now do. They have risen the bar. Some might even say set new expectations if you will. How, you ask? They did it with great innovation and smart business moves causing Snap Chat to bring in some helpful, pass the time additions to their application. These 5 updates were added to Snap Chat in the past two months and could possibly make Snap Chat the #1 used app after a while. The first update they did was the addition of Discover. The Discover slide is a daily update with a select few of the most popular TV network channels. TV network channels such as VICE, CNN, ESPN, People, Warners Music, Food Network, and much more. This quickly became popular to everyone who uses Snap Chat or watches those TV channels. With this, snapchat has brought so much meaning to the term App in such short time. It amazes me how innovative and efficient this app is becoming while other apps are at a standstill. Apparently, Im not the only one who is impressed with Snapchat. Discovers user interface is devilishly clever. Just open the menu, pick one of twelve channels, and browse animated story teasers from that channel The next day, you get an entirely different set of stories. Its a good medium for browsing while youre on the bus, in the bathroom, or waiting for someone at a restaurant. And, at least for now, the channels are putting a lot of effort into making their stories v isually appealing. Most post five or so stories per day, though Ive seen as many as fifteen. (Roose par. 5). Snap Chat knows America is constantly on the go. People are always ripping and running now a days. No one has time to sit down and watch their favorite TV channels anymore. So, Snap Chat has found a way to advance their #1 used app campaign by giving the busy people of America a way to stay updated and in the know with their favorite TV network channels. Im not talking like all reports or something either. They also provide you with daily videos that load instantly. Which if you ask me is perfect for people who dont have time to go out their way to view something that they might actually want to see. Im a witness to this update making my life that much better by being there when I needed it. Its so handy and convenient that its hard not to always use this app. I mean yea, on twitter you got videos now and you can follow your favorite TV channels pages but they dont show daily updated videos every single day like Snap Chat does. Even then Instagram isnt showing you daily updates. Instagram would show you more of a weekly update. Useless really, unless you not big on keeping up with society. Someone like me who is constantly busy and has something to do appreciates a daily update on 11 TV network channels that are so easy to access. Im always looking for a daily news update on whats going on in the world. I just have to be in the know of things. Also, with the variety of channels to choose from, snapchat appeals to such a broad audience of people who watch those TV channels, but also have jobs. I remember when I first got this update I was in the food hall sitting down talking to some friends. When I was shown by another friend who updated before me I couldnt believe it. Every teen in that food hall was