It’s a brave new world this year, in more ways than one. As well as obvious shifts in social and political paradigms, there’s been constant evolution within the technology sector that could mean an entirely new way of doing business for small start-ups and corporate giants alike. While a number of trends have emerged over the course of recent years, I’ve highlighted four technology trends that look set to make headlines in 2017 as the changing face of technology in business.
When you reach your first business failure, it is easy to feel like a failure yourself. But, most entrepreneurs would be lying if they said they never failed at a business venture after starting up their businesses. Most business owners, at one time or another, will fail at a business-related task or venture. And guess what? They live to tell about it.
A business failure does not make you a personal failure. And bouncing back from a business failure is absolutely possible, should you choose to continue your business and move it in the direction of success.
Growing a business can actually be a fairly simple process when you make use of the thousands of helpful growth hacking tools on the web. Best of all, some of them are completely free. Why pay to grow your business when you don’t have to?
Still, even the ones you pay for are well worth it if you want to see your numbers grow exponentially with little effort. They key to expanding your business in today’s world is to create a strong digital brand that helps promote your business. This means you have to venture into the world of websites, blogs, and social media.
The internet is an endless system of products waiting to be bought. More and more shoppers are searching online for the things they need and want, and it’s quickly becoming the popular way to browse and shop.
According to Internet Retailer, by the year 2020, online sales are expected to reach $532 billion and there will be about 270 million active online shoppers. Most of this shopping is expected to take place on mobile devices, like tablets and smartphones.
There’s a lot to think about when you’re on the road to build your own successful ecommerce business. It’s fast becoming one of the most popular routes for start-ups to take, so I’ve come up with a rough guide for new founders, featuring five key areas to focus on.
First things first, you need to pick your product carefully. Many independent online retailers start off as Amazon sellers (or similar). If this is the route you’re taking, you need to ensure you find a manufacturer that’s a good match for your identity, your price point and your customers. Order a small amount to test quality and reliability before committing to larger orders or outsourcing to a third party warehouse.
Common Mistakes StartUp Companies Make:
Starting a business from scratch can be daunting even for the most ambitious entrepreneur. There are a lot of conflicting opinions on what you should be doing, but there are a few things that many founders agree you definitely should not. I’ve put together here a quick list of mistakes to avoid when you’re setting up a start-up.
Picking the Wrong Employees
When founding a start-up company, your employees will be your greatest assets. It’s important to weigh up salary expectations against the skills you require. Often companies will turn to interns as a way of keeping costs low, but if you don’t have the resources to train up junior staff members you could end up costing yourself in the long run. Instead, invest in talent in the areas that will be most important during your early years, such as tech, marketing and customer service.
Throughout my tryst with e-commerce, I’ve been frequently asked regarding what would be the best retail pricing strategy or strategies to adopt. Now, I know that the Flipkarts and the Snapdeals are worth billions of dollars, but do they pull any profits in yet? Not at the last count, despite being there for several years now. I feel one of the flaws they have is an improper comprehensive retail pricing strategy.
I always go by the three Ayn Rand basic values to in order to live a full and productive life: reason, purpose and self-esteem.
And yes, over the years countless institutes and individuals have asked the trillion dollar question: What makes an entrepreneur an entrepreneur? What traits or characteristics are inherent to a successful entrepreneur and is one born with those traits? Well, at the very least successful entrepreneurs are born every day!
Pitching to high-level (C-Level) Executives is a pretty daunting task to say the least. Many a great business development exec or even the best sales folks around have proverbially bitten the dust when it comes to selling/pitching to a C-Level Exec, yes.
C-level decision makers are paid to improve their business results. Regardless of how the media portrays these executives, their primary concern is to improve their business. This includes increasing sales, market share, customer loyalty; reducing costs, errors, or employee turnover; improving productivity, employee engagement, customer service, etc.
For the better part of a decade, a debate has raged on over whether organic SEO (search engine optimization) or PPC (pay per click) is smarter and more fruitful when it comes to online marketing. The reason the debate isn’t more clear-cut is actually quite obvious: PPC (which involves paying a search engine money to bid on targeted keywords) has a lot to lose if big companies with big marketing budgets decide that organic SEO is a better way to market their businesses online.