Over a decade ago, when people were hunting for the right professional services, the advocate of automation, “Deepak Mandy,” came up with an idea. The idea is to bridge the gap between organisations seeking professional services and the experts offering these services. As automation has always fascinated Mr. Deepak Mandy, he has been keen to utilise technology right from the time he tried his hand on MS paint. Obviously! He just could not wait to give wings to his idea. This is how his brainchild, Work4you, came into the picture. Soon, the idea became a game changer in the industry as all the small and mid-level organisations benefited from its technological services.

The journey of Work4you started back then when it provided backend support to its Australian client, CBD Movers, which has now grown to have a worldwide presence. After this glorified success, there was no looking back. Work4you has today become a leading organization that runs processes in virtual assistance, lead generation, sales, enterprise-level solutions, customer support, website design and development, digital marketing, app development, and various other niches all over the world.

You must be wondering why Mr. Deepak Mandy chose this difficult and competitive niche of the industry. Well, commenting on this, Mr. Mandy shared his thoughts that he knew that the strong value system and deep-rooted thoughts he had behind launching Work4you would help him surpass all the competitors in the industry.

In conversation with Firmfinder, Mr. Mandy shared his secret sausage of success in the initial days. He shared three key points:

1. Engagement

“We at Work4you have always been open to suggestions and deliver the best to our clients. Since our initial days, we have followed the strategy of engaging with our clients.” Our approach has always been feedback-centric,” shared Mr. Mandy.

2. Tapping “The” Right Niche

He also shared another crucial thing, which was to recognise their forte and work hard to improve it. And today, Work4you is leading the virtual assistance and digital marketing industry. They recognised their hook and worked for it.

3. Setting goals

We also figured out that Work4you, since it was a baby, has kept a goal-centric approach. They set measurable, small goals and worked to achieve those goals. The team also ensured that the process of reaching that goal was realistic and smooth.

The ladder to success was not easy for Work4you. Even this industry-leading brand had to overcome many initial challenges, such as finding the right skill set, acquiring resources, and gaining societal trust. Throwing some light on the initial days’ setbacks, the CEO of Work4you shared that his team was in the process of taking a very influential client on board. He quoted, “We worked hard on the project in making the strategies, hiring more people with the required skill set, and providing the best services. But this very client, for no good reason, went silent just a week before the kick-off was scheduled.

We also discovered that Work4you’s monetization model has a two-pronged model and has further subdivisions. The first model is delivery-oriented. It focuses on understanding the requirements of the customer and delivering on their demands. Another model is partner-oriented. The goal here is to expand the network and add more to the skill set by collaborating with the companies and individuals. This approach is majorly contract-based. The collaboration is structured in a way that benefits both parties.

Work4you follows 5 key points, which are based on a design thinking model that has led it to create successful apps or SaaS.

  • The first approach revolves around the customer’s demand. It is the customer-centric approach. The idea behind this approach is to satisfy the demands of the clients and make their experience worthwhile. An example of this is Mate4trade. It is a customer relationship management app. It was developed to help tradies manage their team and work. It has helped tradies to abandon the stressful process of managing the leads manually.
  • Next, the brand uses a “lean approach.” It uses the art of optimising resources efficiently. The idea is to do smart work and save time and effort.
  • The third approach that we discovered, which Work4you uses, is agile methodology. As Work4you has always believed in the engagement approach and satisfying customers’ requirements. It sticks by it at every step. The customer’s feedback is taken at every step to make sure that the results satisfy their requirements.
  • Another approach that Work4you is appreciated for is its “after-sales” support. It maximises customer satisfaction completely. Providing maintenance after delivering the service or product is very important to maintain the authenticity of the product.
  • Another very evident approach that Mr. Deepak Mandy swears by is valuing relationships more than monetary benefits. Work4you has gained popularity for serving the community and giving affordable services that actually help brands achieve their goals.  

We know that by now you are all influenced by the charm that Mr. Deepak Mandy has spread in the industry. Since you are all influenced by him, let us tell you a good deed that is on his mind. If you are idealising him, then you must approach him and give him ideas to actualize it. So, being a visionary man, he has the vision to begin a movement that provides a platform for the masses to show their talent to the world. That will further aid them in earning their living. Hardworking and deserving people should be able to make their name as experts in the niche that they are proficient in. Helping people realise and tap into their inner potential and grow in life is his aim.

It was the support of his parents, wife, children, and employees, whom he chooses to call his own family, that led him to the point where he is today. Yes, this is what he shares whenever he is asked about the strengths that made him a successful entrepreneur.

There is no success story without mistakes. Every human being makes mistakes, and so did Deepak Mandy in his initial days. But he believes that it is important to make mistakes and learn from them. Do not be knocked down by them, but rather persevere each day to reach the point of victory.

He has built a strong international brand, but the key to his heart will always be a simple Indian milk tea. Deepak Mandy believes in constructing a strong path for himself and others through his vision. Having made his name in the industry, he is now focused on helping others build theirs. These are the highlights from the interview of Mr. Deepak Mandy, conducted by firmsfinder.

You need a strong reason to part with your hard-earned money. Australia is going to give you plenty of those. If you are a strategic investor, you already know what factors to look into before investing in real estate in Australia.

You know what goals you want to achieve and you have long-term property investment strategies already forming in your mind. But if you are new to this game, you are probably going to need a bit of advice and guidance. This could be your opportunity to turn your cash into a money-minting asset. The following section contains a checklist that you should keep in mind when investing in real estate anywhere in Australia. Let’s begin:

1. Begin By Organizing Your Finances

You cannot imagine investing your money without organizing your finances. You must have a financial plan ready before you buy any property. Right now, interest rates across Australia are quite low but they do vary from city to city. Usually, this allows people to borrow somewhere between 80% to 90% of the property’s value and just have to gather close to 10% to 20% to pay upfront. You may decide to work with a finance broker to get you the most flexible loan options that are going to suit your needs the best.

2. Understand The Structure Of Your Loan

The next step is to understand the structure of your loan. You can engage a financial advisor to structure your loan whether it is fixed, variable, or mixed. The interest that you pay on your investment property is going to be tax deductable. Remember that there are certain borrowing costs as well that are tax deductable but others may not be. You will be advised to go for an interest-only loan. This is especially relevant for investment properties because you can easily write off the interest amounts when calculating your tax. Remember that going for the contemporary principle and interest structure for your loan may not be the perfect fit given the current economic conditions. But then, the entire structure of your loan will depend on your financial goals as well.

3. Purpose Of The Investment

What is the purpose of your investment? Are you looking to invest in a property so that you can convert it into a source of recurring income? Do you want to invest in a house or a commercial building so that you can sell it off later at a profit? Whatever your goal might be, this is your wealth creation journey we are talking about and the answers to these questions will form a part of your property investment strategies. At any point of time, there are more than 300,000 properties that are available for sale all across the country. According to independent studies, less than 5% of them are investment-grade. So remember to first define the purpose of your investment and then shell out any money for investing in real estate in Australia.

4. Wrap Your Head Around The Upfront Costs

You must have heard about upfront costs from various sellers, buyers, investors, and property management professionals as well. What are these?

Deposit

Real estate investors looking to invest in residential property will be required to deposit at least 20% of its value. If you want to buy any commercial properties, the percentage changes to 30%. The vendor is going to expect at least this much from you.

Loan Establishment Fee

This fee is also called your application fee. It is going to cover the cost of document preparation for your new mortgage. Some banks and financial institutions do not charge this fee at all. This can cost you somewhere between $200 and $700 depending upon the amount of loan you have taken.

Lenders Mortgage Insurance

The lender is going to require this insurance if your deposit is less than 20% of the value of the property. This is a one-time fee that the lender is going to charge just for protection purposes. If you default on your mortgage, this fee is going to give the lender the cover that he needs.

Stamp Duty

When it comes to changing the ownership and title of the property, the stamp duty is going to cover the cost associated with it. The amount is going to differ depending on which state you are located in. It is also going to fluctuate depending on the value of the property.

Connections

All your utilities, services, water, gas, electricity, and other amenities are covered under this fee.

Legal Fee

If you have hired any solicitor, this fee is going to cover his cost.

5. House, Unit, Or Land

The type of property that you are looking for is also an important consideration. A plot of land is like a blank canvas which can be a lot less expensive initially as compared to an already constructed villa. Also, if you intend to acquire this land and turn it into a rental property, there is a long gestation period and further investment that will involve constructing a building, looking for tenants, advertising the property for rent, and a lot more. If you are a first-time investor, a single unit can be your first choice. Despite the high prices, houses still continue to be a preferred choice amounting to close to 38% of purchases.

6. What Is The Age Of The Property?

As a real estate investor, the age of the property would also matter to you because an established building would require the services of a professional property manager and regular inspection of the asset. In a new property, these issues may be limited in number. You can always improve the condition of the asset through renovations.

7. Remember To Negotiate

Is there a rule that you have to accept the asking price? Not at all! It is never advised to suppress your desire to negotiate. If you have the calibre to do it, do not hesitate. Some sellers are always going to price their property really high because they already anticipate that the buyer is going to negotiate. They would then cut down on their asking price and sell it off still at a very considerable profit.

Final Thoughts

Investing in real estate in Australia can be one of your biggest life-changing decisions. Whether you are a non-resident or an ex-pat, the property market in Australia always has something for everyone and every budget.