<?xml version="1.0" encoding="UTF-8"?><rss xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:atom="http://www.w3.org/2005/Atom" version="2.0" xmlns:itunes="http://www.itunes.com/dtds/podcast-1.0.dtd" xmlns:googleplay="http://www.google.com/schemas/play-podcasts/1.0"><channel><title><![CDATA[Alefiyah’s Blog]]></title><description><![CDATA[Alefiyah’s Blog]]></description><link>https://www.alefiyahbhatia.com</link><image><url>https://substackcdn.com/image/fetch/$s_!NYk6!,w_256,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F82bc412f-17e6-489e-b7d1-8d364a0d82f5_800x800.jpeg</url><title>Alefiyah’s Blog</title><link>https://www.alefiyahbhatia.com</link></image><generator>Substack</generator><lastBuildDate>Wed, 06 May 2026 11:19:15 GMT</lastBuildDate><atom:link href="https://www.alefiyahbhatia.com/feed" rel="self" type="application/rss+xml"/><copyright><![CDATA[Alefiyah Bhatia]]></copyright><language><![CDATA[en]]></language><webMaster><![CDATA[alefiyah@substack.com]]></webMaster><itunes:owner><itunes:email><![CDATA[alefiyah@substack.com]]></itunes:email><itunes:name><![CDATA[Alefiyah Bhatia]]></itunes:name></itunes:owner><itunes:author><![CDATA[Alefiyah Bhatia]]></itunes:author><googleplay:owner><![CDATA[alefiyah@substack.com]]></googleplay:owner><googleplay:email><![CDATA[alefiyah@substack.com]]></googleplay:email><googleplay:author><![CDATA[Alefiyah Bhatia]]></googleplay:author><itunes:block><![CDATA[Yes]]></itunes:block><item><title><![CDATA[Content Marketing Strategy for Small Businesses: 9 Steps to Cut Through the Noise]]></title><description><![CDATA[As a small business owner juggling a million things, you&#8217;ve thought about playing the content marketing game, but it either overwhelms you or you are wondering where to start.]]></description><link>https://www.alefiyahbhatia.com/p/content-marketing-strategy-for-small</link><guid isPermaLink="false">https://www.alefiyahbhatia.com/p/content-marketing-strategy-for-small</guid><dc:creator><![CDATA[Alefiyah Bhatia]]></dc:creator><pubDate>Thu, 03 Oct 2024 07:13:54 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!63HM!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9afc0555-db5f-4a15-a550-0c60a011fcdf_632x676.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>As a small business owner juggling a million things, you&#8217;ve thought about playing the content marketing game, but it either overwhelms you or you are wondering where to start. With the right strategy, you can cut through the noise, boost your brand visibility and rake up sales.</p><p><em>Here&#8217;s a step-by-step approach for building a kickass content marketing strategy:</em></p><ol><li><p><strong>Nail the basics</strong></p></li><li><p><strong>Get into the right mindset</strong></p></li><li><p><strong>Create an ideal customer profile</strong></p></li><li><p><strong>Conduct competitor analysis</strong></p></li><li><p><strong>Define goals and metrics</strong></p></li><li><p><strong>Set realistic budgets</strong></p></li><li><p><strong>Define your content style</strong></p></li><li><p><strong>Use effective distribution channels</strong></p></li><li><p><strong>Define benchmarks and monitor progress</strong></p></li></ol><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.alefiyahbhatia.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.alefiyahbhatia.com/subscribe?"><span>Subscribe now</span></a></p><p><strong>NAIL THE BASICS</strong></p><p>What is content marketing? All the digital activities that you do as a business to drive profitable customer action. Think of it as a journey of attracting, engaging and converting customers. In the sales life cycle, a buyer&#8217;s decision lingers at one of the stages in the sales funnel and your job is to nudge them swiftly to become a loyal customer.</p><p>The Sales Funnel:</p><ul><li><p><em>Top of the Funnel (TOFU)</em></p><ul><li><p>This is where you first introduce your brand. Focus on creating valuable content that solves problems and educates your audience. Refrain from pushing your sales agenda and focus on creating <em><strong>awareness</strong></em> about your product. Make a striking first impression through blogs, newsletters, white papers, social media posts or videos.&nbsp;</p></li></ul></li><li><p><em>Middle of the Funnel (MOFU)</em></p><ul><li><p>Now that your audience is interested, nurture them with more targeted content. The second stage in the funnel is about building rapport and nurturing the leads. This is where there is an <em><strong>interest and desire</strong></em> for your product and you position yourself as the best one to deliver it. You can do this by providing targeted content through podcasts and webinars, e-mails or ads.&nbsp;</p></li></ul></li><li><p><em>Bottom of the Funnel (BOFU)</em></p><ul><li><p>Your potential customer is ready to buy! This is the stage where you&#8217;ve <em><strong>converted your lead</strong></em> into a customer and generated sales. Provide them with the final push, such as special discounts, testimonials or case studies.&nbsp;</p></li></ul></li></ul><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!63HM!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9afc0555-db5f-4a15-a550-0c60a011fcdf_632x676.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!63HM!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9afc0555-db5f-4a15-a550-0c60a011fcdf_632x676.png 424w, https://substackcdn.com/image/fetch/$s_!63HM!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9afc0555-db5f-4a15-a550-0c60a011fcdf_632x676.png 848w, https://substackcdn.com/image/fetch/$s_!63HM!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9afc0555-db5f-4a15-a550-0c60a011fcdf_632x676.png 1272w, https://substackcdn.com/image/fetch/$s_!63HM!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9afc0555-db5f-4a15-a550-0c60a011fcdf_632x676.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!63HM!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9afc0555-db5f-4a15-a550-0c60a011fcdf_632x676.png" width="632" height="676" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/9afc0555-db5f-4a15-a550-0c60a011fcdf_632x676.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:676,&quot;width&quot;:632,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:663698,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:null,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!63HM!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9afc0555-db5f-4a15-a550-0c60a011fcdf_632x676.png 424w, https://substackcdn.com/image/fetch/$s_!63HM!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9afc0555-db5f-4a15-a550-0c60a011fcdf_632x676.png 848w, https://substackcdn.com/image/fetch/$s_!63HM!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9afc0555-db5f-4a15-a550-0c60a011fcdf_632x676.png 1272w, https://substackcdn.com/image/fetch/$s_!63HM!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9afc0555-db5f-4a15-a550-0c60a011fcdf_632x676.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>As a small business, your potential customers are at the top of the funnel, you will need to cosy them up to your product or they will flee from your services if you rush them in the cycle. That is why you need a content marketing strategy: to navigate a buyer seamlessly through the sales funnel.</p><p>A successful content marketing strategy is about reaching your audience; think of it as speaking their language and meeting them at their go-to spot. So if the majority of your audience is listening to podcasts, you create content that speaks to them and distribute it in a way that finds them quickly. The same age group is also on Facebook and Instagram. Run ads for your podcasts.&nbsp;</p><p><strong>GET INTO THE RIGHT MINDSET</strong></p><p>You want to skip to the part where it makes YOU money by simply selling more of your products and services? Right? I do.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!eHjw!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7bafc38c-bcf9-4030-9209-52b8f55d84b5_786x572.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!eHjw!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7bafc38c-bcf9-4030-9209-52b8f55d84b5_786x572.png 424w, https://substackcdn.com/image/fetch/$s_!eHjw!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7bafc38c-bcf9-4030-9209-52b8f55d84b5_786x572.png 848w, https://substackcdn.com/image/fetch/$s_!eHjw!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7bafc38c-bcf9-4030-9209-52b8f55d84b5_786x572.png 1272w, https://substackcdn.com/image/fetch/$s_!eHjw!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7bafc38c-bcf9-4030-9209-52b8f55d84b5_786x572.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!eHjw!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7bafc38c-bcf9-4030-9209-52b8f55d84b5_786x572.png" width="786" height="572" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/7bafc38c-bcf9-4030-9209-52b8f55d84b5_786x572.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:572,&quot;width&quot;:786,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:null,&quot;alt&quot;:&quot;&quot;,&quot;title&quot;:null,&quot;type&quot;:null,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:null,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" title="" srcset="https://substackcdn.com/image/fetch/$s_!eHjw!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7bafc38c-bcf9-4030-9209-52b8f55d84b5_786x572.png 424w, https://substackcdn.com/image/fetch/$s_!eHjw!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7bafc38c-bcf9-4030-9209-52b8f55d84b5_786x572.png 848w, https://substackcdn.com/image/fetch/$s_!eHjw!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7bafc38c-bcf9-4030-9209-52b8f55d84b5_786x572.png 1272w, https://substackcdn.com/image/fetch/$s_!eHjw!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7bafc38c-bcf9-4030-9209-52b8f55d84b5_786x572.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Imagine yourself as a consumer who loves productivity apps and fashion.</p><ul><li><p><em>Scenario 1 : </em>You are scrolling through your social media feed, bombarded with ads for fancy jackets and self-help books. Result? You end up clicking a random ad on a random day, you explore and exit without buying anything and the cycle repeats. You get saturated and this constant noise leads to ad fatigue.</p></li><li><p><em>Scenario 2 : </em>Now imagine seeing a popular fashion influencer create a fun reel about the "Worst Fashion Trends of 2024" while sporting their own limited-edition merch. Or, perhaps you watch Ali Abdaal recommend a productivity app that promises to boost your efficiency by 80%. These engaging and relevant pieces of content pique your curiosity and draw you in. Further, the limited availability of the influencer's merch and the free trial for the productivity app create a sense of urgency, making you more likely to make a purchase or sign up.</p></li></ul><p>For small businesses, awareness is everything. If you are not even on the map, who will be inclined to travel and give you their money?&nbsp;</p><p>Content marketing is a long-term journey with rewarding short-term destinations. Now that your mindset is right, let&#8217;s understand your customers better.</p><p><strong>WHO IS YOUR AUDIENCE?&nbsp;</strong></p><p>An ideal customer profile (ICP) defines who your ideal customer is; if you are selling to everyone, you are practically bleeding money and selling to no one.</p><p>To deduce your ICP, answer these:</p><ol><li><p>Who are my current clients? Which age group and occupation do they belong to? What are their pain points and motivations for buying my product?</p></li><li><p>Go beyond your assumption: Interview your clientele, ask them relevant questions about your niche and dig into what more you could offer them. Identify the gap in your market and use it to create a unique value proposition.&nbsp;</p></li><li><p>Talk to potential high-ticket clients and identify their desires.&nbsp;</p></li><li><p>What does Google Analytics say about your demographic&#8217;s online activity?&nbsp;</p></li><li><p>What channel are they most active on and where do they shop?</p></li></ol><p><strong>CONDUCT COMPETITOR ANALYSIS&nbsp;</strong></p><p>If you could just get into the mind of your competitors and know what works for them, wouldn&#8217;t that be wonderful? There are tools for conducting competitor analysis that will accurately tell you what is working for your competition.&nbsp;</p><ol><li><p>Semrush&nbsp;</p><p>Complete website analytics and search engine optimisation.</p><p>Semrush tells you everything about your competitor&#8217;s website, from analysing their ads to blog hits. It does a lot more with its dynamic offerings; it's an excellent choice for narrowing down on keywords and building content pillars.</p></li><li><p>Kompyte</p><p>This tool allows you to scan through your competitor&#8217;s online activities without&nbsp; having to manually put in data every time. It&#8217;s an AI-POWERED tool that successfully delivers real-time data by tracking and analysing multiple data points such as product launches, pricing changes, campaigns and reviews. This aids in sales tactics, marketing strategies and product development.&nbsp;</p></li><li><p>Meta Ads Library&nbsp;</p><p>Know your competitor's ad strategy for free. This Meta tool helps you in creating your first campaign by providing a digital database of your competitor&#8217;s ads. It is especially useful in tracking ads on Facebook and can further analyse the trends, graphics and copy style followed by your competitors.&nbsp;</p></li></ol><p>If you are a solopreneur with budget constraints, choose your tools in sync with your marketing goals, take a trial to familiarise yourself with their core offerings before paying for subscriptions. Check out YouTube videos and backtest them simultaneously.&nbsp;</p><p><strong>DEFINE YOUR GOALS</strong></p><p>When you are trying to market yourself in every way, through every channel, your marketing funnel will resemble a typhoon: destructive and all over the place.</p><p>Let&#8217;s understand what your goals should look like:</p><ol><li><p>% increase in sales within 3 months&nbsp;</p></li><li><p>&#8216;x&#8217; number of email subscribers</p></li><li><p>A definitive amount of website traffic in a stipulated time</p></li></ol><p>Don&#8217;t just define your goals by aiming to increase sales, every business aims for that, make your vision as articulate as possible. You can use the common denominators from your competitor analysis to set realistic goals and benchmarks.&nbsp;</p><p><strong>SET REALISTIC BUDGETS</strong></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!v1xQ!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdbc8b133-85cb-44b6-8291-3fda767f9ae2_788x592.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!v1xQ!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdbc8b133-85cb-44b6-8291-3fda767f9ae2_788x592.png 424w, https://substackcdn.com/image/fetch/$s_!v1xQ!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdbc8b133-85cb-44b6-8291-3fda767f9ae2_788x592.png 848w, https://substackcdn.com/image/fetch/$s_!v1xQ!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdbc8b133-85cb-44b6-8291-3fda767f9ae2_788x592.png 1272w, https://substackcdn.com/image/fetch/$s_!v1xQ!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdbc8b133-85cb-44b6-8291-3fda767f9ae2_788x592.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!v1xQ!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdbc8b133-85cb-44b6-8291-3fda767f9ae2_788x592.png" width="788" height="592" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/dbc8b133-85cb-44b6-8291-3fda767f9ae2_788x592.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:592,&quot;width&quot;:788,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:null,&quot;alt&quot;:&quot;&quot;,&quot;title&quot;:null,&quot;type&quot;:null,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:null,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" title="" srcset="https://substackcdn.com/image/fetch/$s_!v1xQ!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdbc8b133-85cb-44b6-8291-3fda767f9ae2_788x592.png 424w, https://substackcdn.com/image/fetch/$s_!v1xQ!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdbc8b133-85cb-44b6-8291-3fda767f9ae2_788x592.png 848w, https://substackcdn.com/image/fetch/$s_!v1xQ!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdbc8b133-85cb-44b6-8291-3fda767f9ae2_788x592.png 1272w, https://substackcdn.com/image/fetch/$s_!v1xQ!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdbc8b133-85cb-44b6-8291-3fda767f9ae2_788x592.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>A standard budget can be up to 8% of your revenue, depending on your content vision.&nbsp;</p><p>From writing content to creating an all-round strategy, are you outsourcing? If not, are you willing to put in the time to write, design, test, edit, monitor PPC campaigns, create videos and engage with influencers all on your own?&nbsp;</p><p>You may be skilled at one or even three of these areas, but you will need professional help to handle all of them, eventually delegate and expand your budget as per your content marketing goals.</p><ul><li><p><em>Do I need a website?</em></p></li></ul><p>A common dilemma that every small business faces is the question of when to create a website.</p><p>For businesses that rely on digital channels, like SaaS companies or online stores, a website is a must-have. It's your digital storefront, where customers can learn about your products and services. A well-optimised website, with landing pages and SEO-friendly content, is essential for attracting and converting visitors. When your sales depend on reaching the consumer through the internet, a website becomes a priority.</p><p>However, if your business is primarily offline, like a hardware or appliance store, you can work towards creating a storefront on Amazon or eBay while marketing on YouTube shorts and descriptive videos before needing a website. You can also consider running Facebook ad campaigns. If you are targeting to run Google ads, you will need to create a basic landing page through your Google Business Profile.</p><p>The key is to assess your specific needs and determine what makes the most sense for your business. There's no one-size-fits-all answer, so consider your goals, target audience, and available resources when deciding whether a website is right for you.</p><p><strong>DEFINE YOUR CONTENT STYLE&nbsp;</strong></p><p>Start by establishing what you can offer through your content:</p><ol><li><p>Use the pain points of your consumers to craft content and establish authority in a specific domain. Use storytelling and personal experiences, voice your opinions and provide useful industry insights.&nbsp;</p></li><li><p>Competitor analysis will help you understand what type of content is dominant in your niche and which channels to choose for distribution.</p></li><li><p>Where does my user stand in the marketing funnel? One of the biggest mistakes small business owners make is ignoring what their customers need. A snippet that will help you understand the basics of a marketing funnel.</p></li></ol><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!wVGa!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F295d060f-82e4-46ed-bc95-b31d0460f573_1024x724.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!wVGa!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F295d060f-82e4-46ed-bc95-b31d0460f573_1024x724.png 424w, https://substackcdn.com/image/fetch/$s_!wVGa!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F295d060f-82e4-46ed-bc95-b31d0460f573_1024x724.png 848w, https://substackcdn.com/image/fetch/$s_!wVGa!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F295d060f-82e4-46ed-bc95-b31d0460f573_1024x724.png 1272w, https://substackcdn.com/image/fetch/$s_!wVGa!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F295d060f-82e4-46ed-bc95-b31d0460f573_1024x724.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!wVGa!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F295d060f-82e4-46ed-bc95-b31d0460f573_1024x724.png" width="1024" height="724" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/295d060f-82e4-46ed-bc95-b31d0460f573_1024x724.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:724,&quot;width&quot;:1024,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:242054,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:null,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!wVGa!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F295d060f-82e4-46ed-bc95-b31d0460f573_1024x724.png 424w, https://substackcdn.com/image/fetch/$s_!wVGa!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F295d060f-82e4-46ed-bc95-b31d0460f573_1024x724.png 848w, https://substackcdn.com/image/fetch/$s_!wVGa!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F295d060f-82e4-46ed-bc95-b31d0460f573_1024x724.png 1272w, https://substackcdn.com/image/fetch/$s_!wVGa!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F295d060f-82e4-46ed-bc95-b31d0460f573_1024x724.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>If your niche runs on word of mouth, you&#8217;d be wondering if the hassle of going digital is worth the pain, it is. Your existing clientele is your fairy godmother, enabling exponential growth of your business. Set up your store on Google, provide a template to your customers to make their work easier, follow-up for testimonials. Even without a website this will help you rank as the top profile on Google, resulting in new leads and conversions.</p><ul><li><p><em>Create an effective content strategy</em></p></li></ul><p>Once you&#8217;ve ruled out whether you need a website or not, focus on the type of content you want to create, a strong competitor analysis would have shown you which of these garners the most traction in your niche:</p><ul><li><p>Podcasts</p></li><li><p>Videos</p></li><li><p>Blogs</p></li><li><p>Newsletters</p></li><li><p>Ads and campaigns&nbsp;</p></li><li><p>E-mails</p></li><li><p>Social media (organic and paid)</p></li><li><p>Influencer marketing</p></li><li><p>PR</p></li></ul><p>Create a combination of the types of content you want to run parallel on specific channels.&nbsp;</p><ul><li><p>&nbsp; <em>Storytelling and thought-leadership</em></p><ul><li><p>Content that shows your brand&#8217;s personality and evokes a desired reaction from your consumers is essential. Storytelling is the beating heart of a brand, the reason to connect and act. Your content should be customer-centric, address their wants and desires, provide value through educational content, and be a consistent market leader.&nbsp;</p></li><li><p>If that&#8217;s a lot, start by documenting the behind-the-scenes of your efforts to achieve a set target. Repurpose that on LinkedIn.&nbsp; Your content strategy has to be smart, not draining.</p></li></ul></li><li><p><em>Content calendars</em></p><ul><li><p>An editorial calendar assures you are three steps ahead and prevents you from having a meltdown while creating content. It's equivalent to having a timetable for your content, when and where you are going to post. You can manually do it in a spreadsheet or modify it from a template. It is vital for building consistency and maintaining quality.&nbsp;</p></li></ul></li></ul><p><strong>USE EFFECTIVE DISTRIBUTION CHANNELS</strong></p><p>According to Semrush&#8217;s data, Instagram, Facebook, YouTube and LinkedIn are the top four social media platforms for sharing content for small businesses. Managing to show up on all the channels by yourself will feel like jumping through fiery hoops and landing without a foot. So use your competitor analysis and focus your content towards where your audience is, where they spend most of their time, break that data down. If it is emails - send out monthly newsletters along with e-mail marketing. If it is social media - repurpose your reels into ads, test these campaigns and note the progress in a Google sheet.&nbsp;</p><p>Basically, pick two channels based on your research. Then create content that targets your users&#8217; likes and behaviours. Finally, repurpose it on another distribution channel. Say you sell handicraft hourglasses and you&#8217;ve identified your target audience is most active on YouTube and LinkedIn, so you create a YouTube video on &#8220;The Truth Behind Productivity Apps.&#8221; Now refine the same content and make a post out of it on LinkedIn. Aim to use one content idea on more than one distribution channel.&nbsp;</p><p><strong>DEFINE BENCHMARKS AND MONITOR PROGRESS&nbsp;</strong></p><p>Measuring your progress is essential, set your KPIs based on your content type and distribution channel.&nbsp;</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!IigH!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe2ee4e16-bdf6-4ccd-b306-1c4b86afe821_1920x1004.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!IigH!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe2ee4e16-bdf6-4ccd-b306-1c4b86afe821_1920x1004.png 424w, https://substackcdn.com/image/fetch/$s_!IigH!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe2ee4e16-bdf6-4ccd-b306-1c4b86afe821_1920x1004.png 848w, https://substackcdn.com/image/fetch/$s_!IigH!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe2ee4e16-bdf6-4ccd-b306-1c4b86afe821_1920x1004.png 1272w, https://substackcdn.com/image/fetch/$s_!IigH!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe2ee4e16-bdf6-4ccd-b306-1c4b86afe821_1920x1004.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!IigH!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe2ee4e16-bdf6-4ccd-b306-1c4b86afe821_1920x1004.png" width="1456" height="761" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/e2ee4e16-bdf6-4ccd-b306-1c4b86afe821_1920x1004.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:761,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:562739,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:null,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!IigH!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe2ee4e16-bdf6-4ccd-b306-1c4b86afe821_1920x1004.png 424w, https://substackcdn.com/image/fetch/$s_!IigH!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe2ee4e16-bdf6-4ccd-b306-1c4b86afe821_1920x1004.png 848w, https://substackcdn.com/image/fetch/$s_!IigH!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe2ee4e16-bdf6-4ccd-b306-1c4b86afe821_1920x1004.png 1272w, https://substackcdn.com/image/fetch/$s_!IigH!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe2ee4e16-bdf6-4ccd-b306-1c4b86afe821_1920x1004.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Keep a track of these measures and note down changes you make. These include refining website copy, adding a blog and every little change that has made an impact.&nbsp;</p><p>For my clients, I use Google Sheets to add links to the documents and assets. It makes it easier to track progress and streamline workflow. Content organisation is key for monitoring progress.&nbsp;</p><p>Creating and executing a content marketing strategy on your own can be daunting, but if you see the potential, there is no turning back. Either DIY it or let the professionals handle it. Your stage is set, chug a coffee and start performing</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!d4xA!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd60cba51-64af-448b-a390-d997c7d0fe89_788x634.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!d4xA!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd60cba51-64af-448b-a390-d997c7d0fe89_788x634.png 424w, https://substackcdn.com/image/fetch/$s_!d4xA!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd60cba51-64af-448b-a390-d997c7d0fe89_788x634.png 848w, https://substackcdn.com/image/fetch/$s_!d4xA!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd60cba51-64af-448b-a390-d997c7d0fe89_788x634.png 1272w, https://substackcdn.com/image/fetch/$s_!d4xA!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd60cba51-64af-448b-a390-d997c7d0fe89_788x634.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!d4xA!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd60cba51-64af-448b-a390-d997c7d0fe89_788x634.png" width="788" height="634" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/d60cba51-64af-448b-a390-d997c7d0fe89_788x634.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:634,&quot;width&quot;:788,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:639131,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:null,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!d4xA!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd60cba51-64af-448b-a390-d997c7d0fe89_788x634.png 424w, https://substackcdn.com/image/fetch/$s_!d4xA!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd60cba51-64af-448b-a390-d997c7d0fe89_788x634.png 848w, https://substackcdn.com/image/fetch/$s_!d4xA!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd60cba51-64af-448b-a390-d997c7d0fe89_788x634.png 1272w, https://substackcdn.com/image/fetch/$s_!d4xA!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd60cba51-64af-448b-a390-d997c7d0fe89_788x634.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://www.alefiyahbhatia.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading my blog. Drop your email so I can send all my new posts right to your inbox!</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[The Barter Myth: Busted! How Money Really Evolved ]]></title><description><![CDATA[A cow for a cloth, a hen for a handful of grain - ring a bell?]]></description><link>https://www.alefiyahbhatia.com/p/the-barter-myth-busted-how-money</link><guid isPermaLink="false">https://www.alefiyahbhatia.com/p/the-barter-myth-busted-how-money</guid><dc:creator><![CDATA[Alefiyah Bhatia]]></dc:creator><pubDate>Wed, 31 Jul 2024 13:30:06 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F935bef4c-0a16-4b22-befa-b9c51d0da9b3_325x473.jpeg" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>A cow for a cloth, a hen for a handful of grain - ring a bell? It's all part of the fairy tale we&#8217;ve been fed. Pure fiction or mass manipulation, you decide.&nbsp;</p><p>Meanwhile, let's explore the true history behind where money came from and why our textbooks got away with churning this narrative for years. Barter; the backbone of economics has no crutch to stand on, unless you consider make-believe a good enough reason.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://www.alefiyahbhatia.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Alefiyah&#8217;s Blog! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p>There's no anthropological evidence to support the idea that entire economies revolved around barter.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!9TbQ!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F42ba8878-1684-47a8-9778-54b6aec7367d_2231x827.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!9TbQ!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F42ba8878-1684-47a8-9778-54b6aec7367d_2231x827.png 424w, https://substackcdn.com/image/fetch/$s_!9TbQ!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F42ba8878-1684-47a8-9778-54b6aec7367d_2231x827.png 848w, https://substackcdn.com/image/fetch/$s_!9TbQ!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F42ba8878-1684-47a8-9778-54b6aec7367d_2231x827.png 1272w, https://substackcdn.com/image/fetch/$s_!9TbQ!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F42ba8878-1684-47a8-9778-54b6aec7367d_2231x827.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!9TbQ!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F42ba8878-1684-47a8-9778-54b6aec7367d_2231x827.png" width="1456" height="540" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/42ba8878-1684-47a8-9778-54b6aec7367d_2231x827.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:540,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:352540,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:null,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!9TbQ!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F42ba8878-1684-47a8-9778-54b6aec7367d_2231x827.png 424w, https://substackcdn.com/image/fetch/$s_!9TbQ!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F42ba8878-1684-47a8-9778-54b6aec7367d_2231x827.png 848w, https://substackcdn.com/image/fetch/$s_!9TbQ!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F42ba8878-1684-47a8-9778-54b6aec7367d_2231x827.png 1272w, https://substackcdn.com/image/fetch/$s_!9TbQ!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F42ba8878-1684-47a8-9778-54b6aec7367d_2231x827.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>But how did this myth spread like wildfire?</strong></p><p>A lie continually told with conviction, ended up eclipsing the truth.</p><p>Adam Smith, the author of &#8216;The Wealth of Nations&#8217; fanned the flames of Aristotle&#8217;s conjecture. He penned it down even though Aristotle had admitted that it was pure speculation. Further, W. Stanley in his popular book &#8216;Money and the Mechanism of Exchange&#8217; took the liberty of taking his examples straight from Smith&#8217;s book.&nbsp;</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!qKrw!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F83288edd-8d42-49d8-a7e9-b405aa6ee137_1162x1574.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!qKrw!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F83288edd-8d42-49d8-a7e9-b405aa6ee137_1162x1574.jpeg 424w, https://substackcdn.com/image/fetch/$s_!qKrw!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F83288edd-8d42-49d8-a7e9-b405aa6ee137_1162x1574.jpeg 848w, https://substackcdn.com/image/fetch/$s_!qKrw!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F83288edd-8d42-49d8-a7e9-b405aa6ee137_1162x1574.jpeg 1272w, https://substackcdn.com/image/fetch/$s_!qKrw!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F83288edd-8d42-49d8-a7e9-b405aa6ee137_1162x1574.jpeg 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!qKrw!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F83288edd-8d42-49d8-a7e9-b405aa6ee137_1162x1574.jpeg" width="320" height="433.4595524956971" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/83288edd-8d42-49d8-a7e9-b405aa6ee137_1162x1574.jpeg&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:false,&quot;imageSize&quot;:&quot;normal&quot;,&quot;height&quot;:1574,&quot;width&quot;:1162,&quot;resizeWidth&quot;:320,&quot;bytes&quot;:464812,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/jpeg&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:null,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!qKrw!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F83288edd-8d42-49d8-a7e9-b405aa6ee137_1162x1574.jpeg 424w, https://substackcdn.com/image/fetch/$s_!qKrw!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F83288edd-8d42-49d8-a7e9-b405aa6ee137_1162x1574.jpeg 848w, https://substackcdn.com/image/fetch/$s_!qKrw!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F83288edd-8d42-49d8-a7e9-b405aa6ee137_1162x1574.jpeg 1272w, https://substackcdn.com/image/fetch/$s_!qKrw!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F83288edd-8d42-49d8-a7e9-b405aa6ee137_1162x1574.jpeg 1456w" sizes="100vw"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>So, where did money come from?</strong></p><p>Money seems to have emerged alongside the development of writing, likely created to keep track of transactions and debt.</p><p>Even though we still do not have a consensus on its origins, all evidence suggests that non-metal money was rooted in debt and scarcity. Money was a social construct from the beginning, what was of &#8216;value&#8217; was collectively decided and traded and most likely was a scarce resource.</p><p>For example, in Ethiopia people used Salt bars, their scarcity made them of value. Surprisingly, Rai Stones in Yap led to the establishment of a primitive ledger system, where they owed each other fractions of the very heavy, nearly immovable Yap stones. They were as hard as mining gold and equally scarce. While in other places like West Africa the Cowrie shells were debased by the Europeans, which further led to a cascading effect of slave trades and forceful land acquisitions.&nbsp;</p><p>Tribes used to exchange their resources on an understanding of &#8216;I-owe-you&#8217;. A hunter shared his find for a favour owed in the future. Economies operated without money, but very well through the existence of debt and gift-giving.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!JweG!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F93910bbc-dcb1-41fb-8b0e-626a8e8c43c6_2226x1054.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!JweG!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F93910bbc-dcb1-41fb-8b0e-626a8e8c43c6_2226x1054.png 424w, https://substackcdn.com/image/fetch/$s_!JweG!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F93910bbc-dcb1-41fb-8b0e-626a8e8c43c6_2226x1054.png 848w, https://substackcdn.com/image/fetch/$s_!JweG!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F93910bbc-dcb1-41fb-8b0e-626a8e8c43c6_2226x1054.png 1272w, https://substackcdn.com/image/fetch/$s_!JweG!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F93910bbc-dcb1-41fb-8b0e-626a8e8c43c6_2226x1054.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!JweG!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F93910bbc-dcb1-41fb-8b0e-626a8e8c43c6_2226x1054.png" width="1456" height="689" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/93910bbc-dcb1-41fb-8b0e-626a8e8c43c6_2226x1054.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:689,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:332542,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:null,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!JweG!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F93910bbc-dcb1-41fb-8b0e-626a8e8c43c6_2226x1054.png 424w, https://substackcdn.com/image/fetch/$s_!JweG!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F93910bbc-dcb1-41fb-8b0e-626a8e8c43c6_2226x1054.png 848w, https://substackcdn.com/image/fetch/$s_!JweG!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F93910bbc-dcb1-41fb-8b0e-626a8e8c43c6_2226x1054.png 1272w, https://substackcdn.com/image/fetch/$s_!JweG!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F93910bbc-dcb1-41fb-8b0e-626a8e8c43c6_2226x1054.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Social relationships and mutual credit understanding were the backbone that carried economies, not the imaginary spot transactions of &#8216;15 cows for yards of cloth&#8217;.&nbsp;</p><p><strong>From Debts to Shekels: The Rise of Early Monetary Systems</strong></p><p>Around 5,500 years ago, agricultural societies in Mesopotamia and Egypt developed systems based on debt. For example, the silver shekel was used as a unit of currency in Mesopotamia. People used these lumps of metal to pay taxes or buy goods on credit.&nbsp;</p><p>The first coins, stamped with images to guarantee their value, appeared around 2,600 years ago in Lydia, now part of Turkey. Coins quickly spread throughout the region and became the preferred form of currency for many societies.</p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.alefiyahbhatia.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.alefiyahbhatia.com/subscribe?"><span>Subscribe now</span></a></p><p><strong>A Quick Timeline of the Evolution of Money:</strong></p><ul><li><p><strong>Commodity Money: From Bullion to Paper&nbsp;</strong></p><ul><li><p>Over time, people started using scarce resources like metals as a form of currency. This eventually led to the development of paper money.</p></li></ul></li><li><p><strong>Metal Money: A Range of Forms</strong>&nbsp;</p><ul><li><p>Throughout history, different cultures have used various metals like bronze, copper, and even gold as a form of currency. Bronze Spade in China, Copper Plate in Sweden and Aes Rude (bronze) in Rome are some of the first forms of metal money.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!k4lQ!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F93aac113-ac49-419b-88cc-d093cf306909_2179x1134.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!k4lQ!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F93aac113-ac49-419b-88cc-d093cf306909_2179x1134.png 424w, https://substackcdn.com/image/fetch/$s_!k4lQ!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F93aac113-ac49-419b-88cc-d093cf306909_2179x1134.png 848w, https://substackcdn.com/image/fetch/$s_!k4lQ!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F93aac113-ac49-419b-88cc-d093cf306909_2179x1134.png 1272w, https://substackcdn.com/image/fetch/$s_!k4lQ!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F93aac113-ac49-419b-88cc-d093cf306909_2179x1134.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!k4lQ!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F93aac113-ac49-419b-88cc-d093cf306909_2179x1134.png" width="1456" height="758" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/93aac113-ac49-419b-88cc-d093cf306909_2179x1134.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:758,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:2365241,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:null,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!k4lQ!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F93aac113-ac49-419b-88cc-d093cf306909_2179x1134.png 424w, https://substackcdn.com/image/fetch/$s_!k4lQ!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F93aac113-ac49-419b-88cc-d093cf306909_2179x1134.png 848w, https://substackcdn.com/image/fetch/$s_!k4lQ!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F93aac113-ac49-419b-88cc-d093cf306909_2179x1134.png 1272w, https://substackcdn.com/image/fetch/$s_!k4lQ!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F93aac113-ac49-419b-88cc-d093cf306909_2179x1134.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div></li></ul></li></ul><p></p><ul><li><p><strong>Minted Money: The Rise of Coins</strong></p><ul><li><p>&nbsp;Coins weren't always around. They actually came about much later, around 2500 years ago. Funding wars and armies by using coins led to it becoming legal tender.</p></li></ul></li><li><p><strong>Paper Money: A Solution to Gold Shortages</strong></p><ul><li><p>Paper money was invented to address a lack of gold to back up existing currencies and for its ease of use. Warehouse receipts in China known as Jiaozi Promissory Note were the first paper money issued for commodities (say grain or gold).</p></li></ul><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!UQKv!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F935bef4c-0a16-4b22-befa-b9c51d0da9b3_325x473.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!UQKv!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F935bef4c-0a16-4b22-befa-b9c51d0da9b3_325x473.jpeg 424w, https://substackcdn.com/image/fetch/$s_!UQKv!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F935bef4c-0a16-4b22-befa-b9c51d0da9b3_325x473.jpeg 848w, https://substackcdn.com/image/fetch/$s_!UQKv!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F935bef4c-0a16-4b22-befa-b9c51d0da9b3_325x473.jpeg 1272w, https://substackcdn.com/image/fetch/$s_!UQKv!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F935bef4c-0a16-4b22-befa-b9c51d0da9b3_325x473.jpeg 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!UQKv!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F935bef4c-0a16-4b22-befa-b9c51d0da9b3_325x473.jpeg" width="325" height="473" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/935bef4c-0a16-4b22-befa-b9c51d0da9b3_325x473.jpeg&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:473,&quot;width&quot;:325,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:85328,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/jpeg&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:null,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!UQKv!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F935bef4c-0a16-4b22-befa-b9c51d0da9b3_325x473.jpeg 424w, https://substackcdn.com/image/fetch/$s_!UQKv!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F935bef4c-0a16-4b22-befa-b9c51d0da9b3_325x473.jpeg 848w, https://substackcdn.com/image/fetch/$s_!UQKv!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F935bef4c-0a16-4b22-befa-b9c51d0da9b3_325x473.jpeg 1272w, https://substackcdn.com/image/fetch/$s_!UQKv!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F935bef4c-0a16-4b22-befa-b9c51d0da9b3_325x473.jpeg 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a><figcaption class="image-caption">Jiaozi Promissory Note from China</figcaption></figure></div></li></ul><ul><li><p><strong>Private Bank Notes&nbsp;</strong></p><ul><li><p>Goldsmiths were the early bankers succeeding whom the private banks issued their own notes which were their own liability in terms of circulation and trading.</p></li></ul></li><li><p><strong>Commercial Banks&nbsp;</strong></p><ul><li><p>Governments took charge of the banking systems, making them the top ledgers and commercial banks acted as a form of sub-ledgers.&nbsp;</p></li></ul></li><li><p><strong>Plastic Currency&nbsp;</strong></p><ul><li><p>Much later in the 20th century, debit and credit cards became the preferential payment mode.&nbsp;&nbsp;</p></li></ul></li><li><p><strong>Digital Cash</strong></p><ul><li><p>Leaping into 1982, David Chaum introduced the idea of &#8220;Blind Signatures and Untraceable Payments&#8221; in his paper, and ran his company DigiCash on this idea. After 9 years, his company went bust like many others that tried to replicate him, up until Bitcoin. He is also known as the godfather of cryptocurrency.<em>&nbsp;</em></p></li></ul></li><li><p><strong>Cryptocurrency&nbsp;</strong></p><ul><li><p>Stuart Haber in the early 90s used hash functions for their company Surety. Once a week they published in The New York Times, using the newspaper as a timestamp for that week&#8217;s information.&nbsp;&nbsp;&nbsp;</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!pHKV!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F94726065-40b0-414c-b222-6f057cbb5fb8_200x274.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!pHKV!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F94726065-40b0-414c-b222-6f057cbb5fb8_200x274.jpeg 424w, https://substackcdn.com/image/fetch/$s_!pHKV!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F94726065-40b0-414c-b222-6f057cbb5fb8_200x274.jpeg 848w, https://substackcdn.com/image/fetch/$s_!pHKV!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F94726065-40b0-414c-b222-6f057cbb5fb8_200x274.jpeg 1272w, https://substackcdn.com/image/fetch/$s_!pHKV!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F94726065-40b0-414c-b222-6f057cbb5fb8_200x274.jpeg 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!pHKV!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F94726065-40b0-414c-b222-6f057cbb5fb8_200x274.jpeg" width="200" height="274" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/94726065-40b0-414c-b222-6f057cbb5fb8_200x274.jpeg&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:274,&quot;width&quot;:200,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:33464,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/jpeg&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:null,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!pHKV!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F94726065-40b0-414c-b222-6f057cbb5fb8_200x274.jpeg 424w, https://substackcdn.com/image/fetch/$s_!pHKV!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F94726065-40b0-414c-b222-6f057cbb5fb8_200x274.jpeg 848w, https://substackcdn.com/image/fetch/$s_!pHKV!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F94726065-40b0-414c-b222-6f057cbb5fb8_200x274.jpeg 1272w, https://substackcdn.com/image/fetch/$s_!pHKV!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F94726065-40b0-414c-b222-6f057cbb5fb8_200x274.jpeg 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div></li></ul></li><li><p><strong>Bitcoin</strong></p><ul><li><p>In 2008, Satoshi Nakamoto published a paper titled&nbsp; &#8220;Bitcoin: A Peer-to-Peer Electronic Cash System.&#8221; A decentralised transaction ledger, that solved the double spending problem. The rest is history.&nbsp;</p><p></p></li></ul></li></ul><p><strong>The Takeaway: Rethinking the Origins of Money</strong><br>The question of whether debt or money came first is an everlasting debate between economists and anthropologists. While many economists believe that bartering led to the creation of money, anthropological evidence suggests that debt played a more significant role.</p><p>Interestingly, research by anthropologists like Michael Hudson, Cornelia Lunch, and David Graeber suggests that gift-giving and credit systems were more common in pre-monetary societies. These systems fostered social ties and economic cooperation.</p><p>The story of barter may be a myth, but that doesn't make history any less interesting. The evolution of money is a fascinating tale of human creativity and adaptation. So, the next time you think about money, remember &#8211; it all started with keeping track of debts and building trust within societies.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!5Zsw!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F41ffaf32-a27b-46dc-b8c5-e14b4e409029_2160x2160.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!5Zsw!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F41ffaf32-a27b-46dc-b8c5-e14b4e409029_2160x2160.jpeg 424w, https://substackcdn.com/image/fetch/$s_!5Zsw!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F41ffaf32-a27b-46dc-b8c5-e14b4e409029_2160x2160.jpeg 848w, https://substackcdn.com/image/fetch/$s_!5Zsw!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F41ffaf32-a27b-46dc-b8c5-e14b4e409029_2160x2160.jpeg 1272w, https://substackcdn.com/image/fetch/$s_!5Zsw!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F41ffaf32-a27b-46dc-b8c5-e14b4e409029_2160x2160.jpeg 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!5Zsw!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F41ffaf32-a27b-46dc-b8c5-e14b4e409029_2160x2160.jpeg" width="474" height="474" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/41ffaf32-a27b-46dc-b8c5-e14b4e409029_2160x2160.jpeg&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1456,&quot;width&quot;:1456,&quot;resizeWidth&quot;:474,&quot;bytes&quot;:282272,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/jpeg&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:null,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!5Zsw!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F41ffaf32-a27b-46dc-b8c5-e14b4e409029_2160x2160.jpeg 424w, https://substackcdn.com/image/fetch/$s_!5Zsw!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F41ffaf32-a27b-46dc-b8c5-e14b4e409029_2160x2160.jpeg 848w, https://substackcdn.com/image/fetch/$s_!5Zsw!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F41ffaf32-a27b-46dc-b8c5-e14b4e409029_2160x2160.jpeg 1272w, https://substackcdn.com/image/fetch/$s_!5Zsw!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F41ffaf32-a27b-46dc-b8c5-e14b4e409029_2160x2160.jpeg 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>                                                    <em>Fin.</em></p><p></p><p></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://www.alefiyahbhatia.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Alefiyah&#8217;s Blog! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Brewing Legacies: Cafe Coffee Day's Shot at a Starbucks-style Comeback]]></title><description><![CDATA[Cafe Coffee Day (CCD) used to be the ultimate hangout spot, but the crown jewel founded by the Late coffee mogul V.G.]]></description><link>https://www.alefiyahbhatia.com/p/cafecoffeedayturnaround</link><guid isPermaLink="false">https://www.alefiyahbhatia.com/p/cafecoffeedayturnaround</guid><dc:creator><![CDATA[Alefiyah Bhatia]]></dc:creator><pubDate>Sun, 17 Mar 2024 10:40:42 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!n5sA!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2e095b38-ef50-49eb-bd74-013f65510e05.heic" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!n5sA!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2e095b38-ef50-49eb-bd74-013f65510e05.heic" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!n5sA!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2e095b38-ef50-49eb-bd74-013f65510e05.heic 424w, https://substackcdn.com/image/fetch/$s_!n5sA!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2e095b38-ef50-49eb-bd74-013f65510e05.heic 848w, https://substackcdn.com/image/fetch/$s_!n5sA!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2e095b38-ef50-49eb-bd74-013f65510e05.heic 1272w, https://substackcdn.com/image/fetch/$s_!n5sA!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2e095b38-ef50-49eb-bd74-013f65510e05.heic 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!n5sA!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2e095b38-ef50-49eb-bd74-013f65510e05.heic" width="1456" height="970" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/2e095b38-ef50-49eb-bd74-013f65510e05.heic&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:970,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:200026,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/heic&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:null,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!n5sA!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2e095b38-ef50-49eb-bd74-013f65510e05.heic 424w, https://substackcdn.com/image/fetch/$s_!n5sA!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2e095b38-ef50-49eb-bd74-013f65510e05.heic 848w, https://substackcdn.com/image/fetch/$s_!n5sA!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2e095b38-ef50-49eb-bd74-013f65510e05.heic 1272w, https://substackcdn.com/image/fetch/$s_!n5sA!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2e095b38-ef50-49eb-bd74-013f65510e05.heic 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Cafe Coffee Day (CCD) used to be the ultimate hangout spot, but the crown jewel founded by the Late coffee mogul V.G. Siddhartha, is now skating on thin ice.&nbsp;</p><p>The coffee empire that stole India's heart is dancing on the razor's edge of a roller-coaster ride, but their strategic twists are keeping them from a free-fall.</p><p>CCDs' financial, legal and competitor battles are far from over, but they seem to be resurrecting themselves on most of these fronts. Can they defy gravity and reclaim their former glory?</p><p>A comparison with their competitor Starbucks elucidates the potential for turnaround. In 2008, Starbucks took a hit that not even its strongest brew could sway. 7 weeks away from the possibility of insolvency, they managed to turn things around and have since generated a remarkable 18x return for their shareholders.&nbsp;</p><p>Cafe Coffee Day in a similar fashion has dodged insolvency as of 2024, but its challenges are a bitter concoction. Will they grind out or turn the heat around?&nbsp;</p><p><strong>A Lot of Issues Over a Cup of Coffee</strong></p><p>It's essential to briefly understand the major causes of Starbucks&#8217; downfall in 2008:</p><ol><li><p>Global economic slowdown reshaped consumer behaviour drastically</p></li><li><p>New entrants like McDonald's and cost-effective options gained traction</p></li><li><p>Rapid expansion led to consumer experience plummeting&nbsp;</p></li><li><p>Poor cash flow management exacerbated the situation</p></li><li><p>Struggling stores added to tumbling margins</p></li></ol><p>In 2019, the suicide of CCDs&#8217; chairman V.G. Siddhartha kicked the hornet's nest wide open, Coffee Day Enterprise Limited&#8217;s (CDEL) books brought to light the breeding of a bad faith business:</p><ol><li><p>Fraudulent activities and misstatements&nbsp;</p></li></ol><ul><li><p>Diversion of funds equal to Rs 3,535 crore from 7 subsidiaries to a promoter entity (Mysore Amalgamated Ltd.)&nbsp;</p></li><li><p>Diversion of funds to the amount of Rs 130 crore, whose apparent beneficiary being Malavika Hedge - current CEO and wife of V.G. Siddhartha&nbsp;</p></li><li><p>Collusion of statutory auditors. M/s ASRMP &amp; Co stands debarred for ten years with a fine amounting to Rs 2 crore. The individual auditors have also been fined and debarred.</p></li></ul><ol start="2"><li><p>Debt Burden of Rs 7,200 crores raising a threat of insolvency&nbsp;</p></li><li><p>Battling lawsuits, fines and defaults&nbsp;</p></li><li><p>Surviving in an overtly competitive market&nbsp;</p></li><li><p>Coffee bean prices hit a 13-year low in 2019, the pandemic was another crucible</p></li></ol><p>In the four years since V.G.S.'s passing, the board has been the sturdy anchor, ensuring the ship stays on course.</p><p><strong>Crown of Thorns; Change of Leadership</strong></p><p>In 2008 after an eight-year hiatus, Howard Shultz, the founder of Starbucks, returned as CEO to align the business operations and take charge of the situation. While the previous leadership justified the hike in product prices attributing them to the economy and the rise in cost of raw materials, Shultz chose to focus on the various internal strategic problems. He centred his attention towards employees and retained the core values of the brand, which had taken a back seat with their rapid expansion.</p><p>His voicemail to partners explained the future course, &#8220;In refocusing our company, we are going to play to our strengths to what has made Starbucks and the Starbucks experience so unique; ethically sourcing and roasting the highest quality coffee in the world, the relentless focus on our customers, the trust we have built with our people, and the smart, entrepreneurial risk-taking, innovation and creativity that are the hallmarks of our company.&#8221;</p><p>In 2019, Coffee Day Enterprise Limited underwent a strategic shuffle, appointing ex-chief secretary of Karnataka S.V. Ranganath as the interim chairman and Nitin Bagmane - an early investor as the chief operating officer of the newly formed executive committee.</p><p>Malavika Hedge took over the reins in December 2020 as the CEO of Coffee Day Enterprise Limited, before taking over she addressed their 25000 employees through a heartfelt letter and signalled at efforts towards debt reduction and preserving her husband&#8217;s legacy. She wrote, &#8220;We will work to reduce the debt to a manageable level by selling a few more investments as I am committed to the company&#8217;s future.&#8221;</p><p><strong>Realigning Company Objectives</strong></p><p>Schultz&#8217;s strategy focused on improving their product line, refining the Starbucks experience and adopting a tech-driven edge. Schultz reinvested in his employees by taking 10,000 store managers to New Orleans for a four-day conference, turning heads with its extravagant expense.</p><p>The conference started with community service, with 54,000 volunteer hours and investing about $1 million in local projects - this made them the single largest block of community support in the history of New Orleans. The vulnerability shown by Schultz, with the transparency of galvanising the top management and starting over instilled a sense of community and responsibility. He then shut down every Starbucks for one afternoon to train their baristas.</p><p>Coffee Day Enterprises Limited (CDEL) has had their hands in more than just coffee beans and retail outlets. With 46 subsidiaries in 2019 that were engaged in luxury resorts, logistics solutions, IT parks, brokerage business and many more -&nbsp; they seemed to have lost track of the bigger picture.&nbsp;</p><p>Likewise, the core business of Starbucks had suffered substantially owing to its venturing into the entertainment business. They had opened their own recording company that won eight Grammy&#8217;s, launched a movie and opened an &#8220;entertainment office&#8221; in L.A. They exited the entertainment biz. and refocused everything on coffee.</p><p>CCD in order to focus on their core business, has reduced its subsidiaries to 17, a 65% reduction as of March 2023. Debt restructuring through asset resolution and closure of unprofitable outlets has been CDELs major strategy, mirroring that of Starbucks.&nbsp;</p><p><strong>Trimming the Fat</strong></p><ul><li><p><strong>Closure of unprofitable store</strong></p></li></ul><p>Starbucks had over 16000 stores worldwide including 11,500 stores in the US. They shut around 780 U.S. stores and 61 stores out of a total of 85 in Australia over a period of five years. They laid off 12,000 employees in 2008. The closure led to a reduction in costs by $850 million.</p><p>As of now, CCD has closed down its international outlets and has decreased its domestic stores from 1700 to 450, a stone-cold 73% reduction. The number of vending machines sold have increased over the last few years but the kiosks installed have fallen sharply.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!bQi8!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67a7be73-9ab9-497c-8c3a-6da43df0e114.heic" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!bQi8!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67a7be73-9ab9-497c-8c3a-6da43df0e114.heic 424w, https://substackcdn.com/image/fetch/$s_!bQi8!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67a7be73-9ab9-497c-8c3a-6da43df0e114.heic 848w, https://substackcdn.com/image/fetch/$s_!bQi8!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67a7be73-9ab9-497c-8c3a-6da43df0e114.heic 1272w, https://substackcdn.com/image/fetch/$s_!bQi8!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67a7be73-9ab9-497c-8c3a-6da43df0e114.heic 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!bQi8!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67a7be73-9ab9-497c-8c3a-6da43df0e114.heic" width="1456" height="973" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/67a7be73-9ab9-497c-8c3a-6da43df0e114.heic&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:973,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:46945,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/heic&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:null,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!bQi8!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67a7be73-9ab9-497c-8c3a-6da43df0e114.heic 424w, https://substackcdn.com/image/fetch/$s_!bQi8!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67a7be73-9ab9-497c-8c3a-6da43df0e114.heic 848w, https://substackcdn.com/image/fetch/$s_!bQi8!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67a7be73-9ab9-497c-8c3a-6da43df0e114.heic 1272w, https://substackcdn.com/image/fetch/$s_!bQi8!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67a7be73-9ab9-497c-8c3a-6da43df0e114.heic 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><ul><li><p><strong>Asset resolution</strong></p></li></ul><p>Unlike Starbucks that financially stabilised by closing stores and cutting costs, CCDs liquidity crisis demands asset restructuring.&nbsp;</p><p>Pivotal cash injections that have helped Coffee Day Enterprises Ltd sidestep insolvency over the last five years:</p><ol><li><p>CDEL has sold its tech park to Blackstone for Rs 2,700 crore</p></li><li><p>Sale of stake in Mindtree for Rs 1,800 crore</p></li><li><p>MACEL, a promoter entity still needs to repay Rs 1,028 crore&nbsp;</p></li></ol><p>&nbsp;CDEL's current debt stands at 434 crore, a promising 94% reduction from 2019.&nbsp;</p><p><strong>Product Innovation&nbsp;</strong></p><p>Product innovation lies at the heart of every business, Schultz brought back the ritual of grinding coffee in the stores. This was aimed to kick in the sensory experience and establish it as a prime choice to connect and enjoy coffee. They also innovated their product offerings and opened new store formats such as drive-throughs. The experience, menu, products, and digital visibility - all stood refined.&nbsp;</p><p>CCD in 2021 introduced its &#8220;OMG&#8221; menu that offered innovative spins such as Cold velvet coffees, dessert shots, banana cake and more. With healthy options like Lemon green coffee, spiced vegan coffee and a range of 50-plus beverage options with a variety of bites, they cater to all moods and prices. Their newly launched options range from Belgian hot chocolate flavoured with Raisin and rum to a perfect winter warmer named &#8220;Mulled spiced winter warmer&#8221;. The range has been carefully curated for the season and changes in consumer preferences, but like me if you too haven&#8217;t heard of these new offerings from their menu, the real innovation that they still need to ace at is marketing.</p><p><strong>Unconventional Media and Marketing Strategies&nbsp;</strong></p><p>Schultz realised the power of digital technology back in 2008, making it an important pillar for their turnaround. They leveraged it to garner customer engagement, launch their digital loyalty program and their app.</p><p>They then rolled out the &#8220;My Starbucks Idea&#8221; - a platform for customers to interact directly and suggest ideas to the company on anything and everything. More than 93,000 ideas were exchanged with over 1.3 million users. Starbucks implemented over 100 ideas, which won customer trust.&nbsp; Further, their social media game focused on building and engaging instead of forcing products down users' throats. They created the &#8220;cool&#8221; persona online and swiftly used it to clear their name from controversies.&nbsp;</p><p>By November 2009, My Starbucks Rewards had integrated their loyalty program that started from &#8220;Welcome Level&#8221; to &#8220;Gold Level&#8221;,&nbsp; where customers earned freebies and in-store benefits as they frequented the store and levelled up. This was imperial to customer retention and loyalty.&nbsp;</p><p>CCD has had loyalty programs for over a decade now, with their major customer falling in the 15-29 age bracket. They have launched social media campaigns such as &#8220;CCDSummerscapeChallenge&#8221;, which hasn&#8217;t garnered traction. An out-of-the-box strategy is what will take to win back the youth.</p><p><strong>The Competition</strong></p><p>Starbucks faced major competition from the entry of new players in the coffee market, mainly McDonald's and Dunkin Donuts. Caribou Coffee, Peet&#8217;s Coffee &amp; Tea Chains were other notable new entrants that gave Starbucks tough competition in 2008. Consumers no longer wanted to pay a premium when a dozen more alternatives had cropped up, with lesser money to spend they chose to settle at these more than just coffee places. To combat this Starbucks added pastries and snacks to complement and stretch the usual coffee routine. They also installed the Clover coffee machines that produced the best coffee Schultz had ever tasted. With campaigns and social media they managed to retain their consumer base.&nbsp;</p><p>Cafe Coffee Day meanwhile faces competition from Starbucks itself as of 2024. CCD with 436 outlets still dominates as the biggest coffee chain in India, with Starbucks standing second with 350 stores. International coffee giants such as Tim Hortons, Costa Coffee, Pret A Manger are expanding their roots in the Indian market, while brands like Lavasa are also set to make a comeback in India. Meanwhile, the local coffee houses and startups such as Blue Tokai and Third Wave Coffee are gaining popularity at a rapid pace.</p><p>CCD needs to buck up and find innovative ideas to stay put in the market before it is too late.&nbsp;</p><p><strong>Government Ties&nbsp;</strong></p><p><em>&#8220;Many shall be restored that now are fallen and many shall fall that now are in honour.&#8221;</em>&nbsp; - Benjamin Graham</p><p>V.G. Siddhartha&#8217;s untimely demise brought to light the pressures from the government, taxation departments and lenders which led to him feeling harassed and pushed into a corner. Fast forward to 2024, V.G. Siddhartha&#8217;s son is married to the daughter of DK Shivakumar, the Karnataka Congress chief, while Malavika Hedge is the daughter of the ex-chief minister of Karnataka who held office from 2009 to 2014. With Congress taking over in the 2023 Karnataka election, the stock prices rose by 17%.</p><p><strong>Technical Analysis</strong></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!JEzg!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fcaae5ef8-98b3-4c0a-841e-b1fad56b79c6.heic" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!JEzg!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fcaae5ef8-98b3-4c0a-841e-b1fad56b79c6.heic 424w, https://substackcdn.com/image/fetch/$s_!JEzg!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fcaae5ef8-98b3-4c0a-841e-b1fad56b79c6.heic 848w, https://substackcdn.com/image/fetch/$s_!JEzg!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fcaae5ef8-98b3-4c0a-841e-b1fad56b79c6.heic 1272w, https://substackcdn.com/image/fetch/$s_!JEzg!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fcaae5ef8-98b3-4c0a-841e-b1fad56b79c6.heic 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!JEzg!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fcaae5ef8-98b3-4c0a-841e-b1fad56b79c6.heic" width="1280" height="819" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/caae5ef8-98b3-4c0a-841e-b1fad56b79c6.heic&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:819,&quot;width&quot;:1280,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:38601,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/heic&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:null,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!JEzg!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fcaae5ef8-98b3-4c0a-841e-b1fad56b79c6.heic 424w, https://substackcdn.com/image/fetch/$s_!JEzg!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fcaae5ef8-98b3-4c0a-841e-b1fad56b79c6.heic 848w, https://substackcdn.com/image/fetch/$s_!JEzg!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fcaae5ef8-98b3-4c0a-841e-b1fad56b79c6.heic 1272w, https://substackcdn.com/image/fetch/$s_!JEzg!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fcaae5ef8-98b3-4c0a-841e-b1fad56b79c6.heic 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a><figcaption class="image-caption">Starbucks (Monthly Chart) 2007-Today</figcaption></figure></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!JVvu!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F31f6a5a3-ab05-42b0-940a-f56d50a73aa1.heic" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!JVvu!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F31f6a5a3-ab05-42b0-940a-f56d50a73aa1.heic 424w, https://substackcdn.com/image/fetch/$s_!JVvu!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F31f6a5a3-ab05-42b0-940a-f56d50a73aa1.heic 848w, https://substackcdn.com/image/fetch/$s_!JVvu!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F31f6a5a3-ab05-42b0-940a-f56d50a73aa1.heic 1272w, https://substackcdn.com/image/fetch/$s_!JVvu!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F31f6a5a3-ab05-42b0-940a-f56d50a73aa1.heic 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!JVvu!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F31f6a5a3-ab05-42b0-940a-f56d50a73aa1.heic" width="1456" height="941" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/31f6a5a3-ab05-42b0-940a-f56d50a73aa1.heic&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:941,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:37321,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/heic&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:null,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!JVvu!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F31f6a5a3-ab05-42b0-940a-f56d50a73aa1.heic 424w, https://substackcdn.com/image/fetch/$s_!JVvu!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F31f6a5a3-ab05-42b0-940a-f56d50a73aa1.heic 848w, https://substackcdn.com/image/fetch/$s_!JVvu!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F31f6a5a3-ab05-42b0-940a-f56d50a73aa1.heic 1272w, https://substackcdn.com/image/fetch/$s_!JVvu!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F31f6a5a3-ab05-42b0-940a-f56d50a73aa1.heic 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a><figcaption class="image-caption">Coffee Day Enterprises (Monthly Chart) 2018-Today</figcaption></figure></div><p>The Starbucks stock price fell far more gradually than Coffee Day Enterprises, which experienced a rapid and relentless fall. But the charts are strikingly similar in that they both have clearly defined double bottom structure on the daily and weekly timeframes.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!30Uo!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe007072c-5fbc-4b75-bd3c-c80e805447ee.heic" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!30Uo!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe007072c-5fbc-4b75-bd3c-c80e805447ee.heic 424w, https://substackcdn.com/image/fetch/$s_!30Uo!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe007072c-5fbc-4b75-bd3c-c80e805447ee.heic 848w, https://substackcdn.com/image/fetch/$s_!30Uo!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe007072c-5fbc-4b75-bd3c-c80e805447ee.heic 1272w, https://substackcdn.com/image/fetch/$s_!30Uo!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe007072c-5fbc-4b75-bd3c-c80e805447ee.heic 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!30Uo!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe007072c-5fbc-4b75-bd3c-c80e805447ee.heic" width="1456" height="940" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/e007072c-5fbc-4b75-bd3c-c80e805447ee.heic&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:940,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:65713,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/heic&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:null,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!30Uo!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe007072c-5fbc-4b75-bd3c-c80e805447ee.heic 424w, https://substackcdn.com/image/fetch/$s_!30Uo!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe007072c-5fbc-4b75-bd3c-c80e805447ee.heic 848w, https://substackcdn.com/image/fetch/$s_!30Uo!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe007072c-5fbc-4b75-bd3c-c80e805447ee.heic 1272w, https://substackcdn.com/image/fetch/$s_!30Uo!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe007072c-5fbc-4b75-bd3c-c80e805447ee.heic 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a><figcaption class="image-caption">Coffee Day Enterprises (Weekly Chart) 2019-Today</figcaption></figure></div><p>While Starbucks had a consistent HH/HL stair-stepping pattern after the bottoms that was largely above the stock&#8217;s 200 day moving average, Coffee Day Enterprises has only just broken to the upside from its 200 DMA in August. The break comes with very high volume and looks promising, although the price faces a cluster of resistance from 66-86. Once we&#8217;re past this, there&#8217;s no structural resistance till about 200 levels. Of course, earnings will have to turn positive for valuations to catch up to the price first.</p><p><strong>Present Day Scenario - A Summary</strong></p><p>CDEL has formed partnerships with New World Hospitality based in Hong Kong, for working together&nbsp;to run operations and open new world properties in India. The glimmer of hope also shines on their vast coffee estates spanning 20,000 acres that produce the finest Arabica coffee beans; they've leveraged it to accelerate their vision.&nbsp;</p><p>Even while oscillating between resilience and uncertainty they've managed to churn out Rs.869 crore as revenue from their retail business in FY 2022-23. With their total debt slashed by approximately 95% and revenue grown by 15% year-on-year in FY 2022-2023, they have made an impressive comeback.&nbsp;</p><p>With Starbucks' successful rebound as inspiration and strategies borrowed from the past, CCD is striving to write a new script. Yet, amidst fines, creditors and competitors amping up, can they caffeinate their future flights, or will they run out of steam?&nbsp;</p><p>In this coffee conquest, there's always another cup waiting to be served, will yours be from CCD?</p>]]></content:encoded></item><item><title><![CDATA[Digital DNA - Welcome to the Matrix]]></title><description><![CDATA[As much as I'd want you to believe that I am here because I finally mustered the courage to go all in on my thoughts, that&#8217;s definitely not it.]]></description><link>https://www.alefiyahbhatia.com/p/digital-dna-welcome-to-the-matrix</link><guid isPermaLink="false">https://www.alefiyahbhatia.com/p/digital-dna-welcome-to-the-matrix</guid><dc:creator><![CDATA[Alefiyah Bhatia]]></dc:creator><pubDate>Sun, 17 Mar 2024 10:31:53 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!xULL!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F574df7b8-c158-4cb4-a01a-53aa09fdbac3.heic" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>As much as I'd want you to believe that I am here because I finally mustered the courage to go all in on my thoughts, that&#8217;s definitely not it.</p><p>But the idea that our consciousness may end up being simulated in a computer, with logic gates replacing the brain's synapses and neurotransmitters does fascinate me.</p><p>Don't you look into oblivion and wonder, this has to be a simulation. If not, have you imagined the future?</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!xULL!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F574df7b8-c158-4cb4-a01a-53aa09fdbac3.heic" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!xULL!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F574df7b8-c158-4cb4-a01a-53aa09fdbac3.heic 424w, https://substackcdn.com/image/fetch/$s_!xULL!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F574df7b8-c158-4cb4-a01a-53aa09fdbac3.heic 848w, https://substackcdn.com/image/fetch/$s_!xULL!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F574df7b8-c158-4cb4-a01a-53aa09fdbac3.heic 1272w, https://substackcdn.com/image/fetch/$s_!xULL!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F574df7b8-c158-4cb4-a01a-53aa09fdbac3.heic 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!xULL!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F574df7b8-c158-4cb4-a01a-53aa09fdbac3.heic" width="1456" height="1551" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/574df7b8-c158-4cb4-a01a-53aa09fdbac3.heic&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1551,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:557026,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/heic&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:null,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!xULL!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F574df7b8-c158-4cb4-a01a-53aa09fdbac3.heic 424w, https://substackcdn.com/image/fetch/$s_!xULL!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F574df7b8-c158-4cb4-a01a-53aa09fdbac3.heic 848w, https://substackcdn.com/image/fetch/$s_!xULL!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F574df7b8-c158-4cb4-a01a-53aa09fdbac3.heic 1272w, https://substackcdn.com/image/fetch/$s_!xULL!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F574df7b8-c158-4cb4-a01a-53aa09fdbac3.heic 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>The Digital DNA we mindlessly leave behind:</strong></p><p>I was born into the age of the internet, Gen Alpha is born alongside the age of Artificial Intelligence. The data we have of ourselves on the internet right now, the cookies we hastily agree upon, and everything we upload on our socials, can be used to create You.</p><p>Your voice, your language, your preferences, your mind itself. All of this makes up your digital DNA, which can be replicated. A notch higher than your digital footprint. Where you go, and what you do, leave traces behind, your prints on the internet. Weaving your traces and leaving behind a shadow of you, another you that can predict your next action? If we were in a simulation and this was base reality your consciousness wouldn't even need to be transferred into a simulated computer.</p><p>Regardless, with everything and everyone being on the internet, the simple question arises; can you escape the matrix? Can you live in a cottage house near a lake without gadgets forever? Can you be part of a world without leaving a personal dot of yourself on the internet?</p><p>With artificial intelligence growing at an exponential rate, can anyone afford to stay out of the algorithm? You might say &#8220;yes&#8221; as of now, but here's why I think no one can:</p><ul><li><p>Digital leverage is powerful, with the impact it creates and the influence it makes. Money, power, propaganda. You are either a silent player of it or simply, are being played through it.</p></li><li><p>Personal Brands will carry a heavy influence over that of MNCs. In an age where automation takes over, people trust the human voice that reaches them clearly. Personal brands also come at a cost, you put your life on the internet, in turn becoming a shareholder of the matrix.</p></li><li><p>The equity of the future lies with those that upskill, not just skills, but evolve and make themselves multi-skilled.</p></li><li><p>The debate of AI systems vs. Humans is like a prime-time show on a news channel - a waste of precious time. AI is here to stay, you cope with technology or you become obsolete in its age.</p></li></ul><p>Your digital DNA is inked in every cookie, in every post, and every time you put your face on the internet. If you feel that the internet knows you better than your partner, it probably does. The better recommendations you get, the more personalised - ask yourself how much of your data is needed and has been put out to deploy such specific ads. Is it just your search history? If not, how much more data can create a silhouette of you? Is your Digital DNA scattered everywhere?</p><p>Wait, does that mean that this article is now a part of...</p><div><hr></div><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://www.alefiyahbhatia.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Alefiyah&#8217;s Substack! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p></p>]]></content:encoded></item></channel></rss>