Tag Archive 'Business Startups'

Mar 21 2014

5 Reasons Why Most Start-Ups Fail

Published by under Business & Marketing

All start-ups are not runaway successes – in fact, a majority of them sink without a trace after 2 to 3 years of existence. Even when budding entrepreneurs are equipped with all the right qualities, they have to deal with layoffs, bankruptcy and faulty services/products. So if you are planning to set up a new venture, you must understand some common reasons why most start-ups fail. It will help you avoid potential problems that may come your way.

1. Thinking small

A research conducted by Harvard Business School reveals that 8 out of 10 businesses fail in the first 3 years. Most entrepreneurs try to create unique products or services that don’t cater to larger audiences. Think global, your product must solve the problems of masses and only then your business will survive in the competition.

2. Lack of funding

For any business to flourish, regular cash flow is a must. It is a blueprint that helps the business to grow and improve. Most entrepreneurs cannot afford to pay their staff. Financial problems can ruin a business. Before launching any new business, make sure that you have sufficient funds.

3. Trying to handle everything on their own

Newbie entrepreneurs, in an attempt to cut down costs try to play different roles themselves such as that of an accountant, Human Resource or Marketing Executive. This can become very stressful and may hinder the growth of your start-up. If you cannot afford to hire permanent staff, then seek services of a staffing agency and let them assist you.

4. Lack of research

Most businesses fail because entrepreneurs don’t have enough knowledge about their products, market conditions, and customer tendencies. It is very important to have insights about the market that you are getting into to build a successful business establishment.

5. Improper marketing

Marketing is the lifeline of any business. Most newbies don’t follow a proper marketing plan and simply blow up money on traditional methods of advertising that does little good to the business. You can harness the power of Internet; create forums and communities to reach out to target audiences.

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Apr 09 2012

Promotional items for business startup events

Published by under Promotional Products

Promotional items can be a wonderful marketing instrument for start up businesses. These are proved to be a good brand mascot bearing your company name. Through promotional items you can get connected to your customers and build relationship. These items can act like ice breakers and make you more credible to your customers as they may know your products and quality of the same.

Logo Promotional Products

There are certain essential planning that one needs to adhere for promotional products while promoting start up business. It is of utmost of importance to know your target audience. Also knowing their likings will help you to design and plan for right kind promotional items. Try to make your presence through building brand from the very first impression. Your promotional products will help you build your market perception and earn credibility in the market.

Understand your clients’ needs before they start telling you about it. Provide solution with an immediate impact. Through your promotional gifts your customers will able to connect to you in an engaging way that will go a long way to build your brand. Everybody loves getting things for Free. It’s a good idea to offer some sample products to your customers and request them to use it first and see how effective the product is for them. This will get you some future business.  You can very well grab your customers’ notice by distributing some useful promotional items like personalized promotional pens, flash drives, writing pads and many such similar items.

If people find your promotional products useful they might try your service and this also gives them the reason to hire you. This way you will have better brand visibility and brand recall.

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Mar 24 2011

Inspiration for Women’s in small businesses – Business Story by Matthew Ney

Published by under Business & Marketing

I hope the Story of David Crane inspired and interested you as much as it gripped me. Here is another piece, in response to our “Business Story Contest”, by Matthew Ney, who runs a Gym and Fitness Center with his wife. Ney’s story tells the tale of a small business, and the challenges it faces in its competition for survival. I found this story particularly gripping for its rendition. Not everyone has a fairytale business venture, in which a business idea is converted into a successful business. There are ups and downs and Matthew Ney’s story inspires in the way he has fought to survive these hurdles. I hope you guys find his business story very interesting. I would also like to wish Matthew Ney all the luck in making his business very popular.

By Matthew Ney

“In November 2008, my wife was working as a Fitness Trainer at a local Fitness Facility. She had been there almost 8 years and loved it. In mid-November the owner of the Facility told her she was closing down her business on November 30th. Just like that, 8 years of loyalty and now income was soon to be gone. We went into action the day she was told and started looking for somewhere to house a small Reformer Pilates business. As luck would have it, just down the road was another Gym, struggling to stay afloat (different story) but wanting to diverse their offerings. We leased a 15′ X 15′ space and started up on December 1st. We stayed at that facility till May, when due to the mismanagement of the gym we were at, we were forced to look somewhere else.

We landed at a local Golf Course who had an unused fitness center. We ordered some more equipment and added Personal Training as well. I was laid off from my job in April 2009 so rather than go back to corporate again; I started with my Personal Trainers Certification and then added 3 other Certification since. We have struggled with cash flow, marketing (value), operating systems and did I mention cash flow? We have added Running Coaching and put on running events. We have settled on a Marketing Program, which will include a Fitness operating system. We struggled as husband and wife, I think mostly due to the strains of having enough money to run our business and pay for our bills at home as well. But, by the grace of God we have managed and are seeing things get better each month. Our biggest problem though is always having new clients to replace those that stop or take a break. We’ve revamped our website with new things, videos and we will take a look at selling items(nit determined fully) online. Looking forward to the future.” Our business is called Pilates Powerhouse and Personal Training. We are located on the web at: www.pilates-powerhouse.com. Our marketing plans (we just started working with a marketing company that specializes in Fitness in February) include at least one internal and one external marketing program/campaign per month for 2011. For example, one of our internal campaigns for March is to send out a 6 email sequence in 30 days to our past and inactive customers with an incentive to come back and train with us. The example for the External campaign is we are having a “Health & Fitness Expo”, inviting those types of businesses to set up a booth, offer a service that can be performed that day and a coupon for something from them down the road. We’ll have businesses performing blood pressure checks, 10 minute chair massages, healthy food, OB gyn coupons for services, etc…. We’ll add that event to our website with links to all and video from that day. Our Yearly Sales $ Goal is to grow 2011 by 50% from 2010. By working with our marketing company, they feel we can achieve that goal and more. We are also going to add a “business operating system” from our marketing company that can fully automate billing, track client sessions and help us perform the vital statistical information for analysis to help us tailor our monthly marketing campaigns. We’ve been tracking everything manually by hand, so to speak, and we’ve missed booking sales dollars and really staying in touch with our clients. We’ve been able to make a go of it so far based on several areas. First, we are Christians and we have a mentality to serve others and treat them with respect. I believe people know we have their best interest at heart. Second, my wife Bonnie has a tremendous reputation in our area for fitness; she has clients that go back 6 years. Third, we are athletes competing in everything from 5K’s to 50 mile races and we also do triathlons and biking. People know us and that helps from a recognition standpoint. Fourth, our niche market is Reformer Pilates and we don’t have a whole lot of competition in our area right now. We now plan from a marketing standpoint to really take advantage of that. Fifth, we’ve cut our expenses as much as we could and still do. We’ve not taken a weekly vacation in 4+ years in order to continue to operate our business. Fifth, we’ve tried to partner up with other business who we know our clients could benefit from, including chiropractic, massage and nutrition. With our newfound marketing company approach, there are ways to promote our business through these partnerships in many ways. Lastly, we’ve passed the two year mark being in business this last December. It’s been exciting and stressful at the same time. One of the great things we’ve realized is that we know we can adapt to life changing events and come out better set for the future.”

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Mar 20 2011

In Response To The Business Story – A tale about David Crane

Published by under Business & Marketing

At the onset I would like to thank everyone for being so enthusiastic in responding to the “Busiess Stores” and appreciating the business branding idea. I got some 20 responses and from these I am going to publish two which I found very interesting. I would like to introduce David Crane, whose story was very gripping, interesting and inspiring to read.David Crane is a business entrepreneurwho left his highly stressful Silicon Valley job to live with his family. Out of excitement but more out of challenge to himself, he developed an app “feel good” for iPhone mainly to be used by his family. The idea caught on and now the application is available in all iPhone Stores. He currently lives with his family in La Honda and runs Lone Moose Software where he develops easy-to-use software in different domains.The Story published here has been written by Julia Scott and tells of the struggles of David Crane in developing “feel good software” and his inspiration behind developing it.

“LA HONDA — When David Crane finally left his high-stress Silicon Valley job in late 2009, he felt good. Really good. 

So good, in fact, that he would give himself five gold stars today with his new iPhone app, the Feel Good Tracker.

Crane, 55, is hoping to hit it big with the new app, which sells at the iTunes store for $1.99. But if he doesn’t, that’s OK too. Crane is so blissed out most of the time these days that creating the software has been its own Zen reward.

“People are highly stressed, as I was, and I think they need a good way to deal with stress. In this often hypercritical world, it’s nice to focus on the positive,” said Crane, who lives in rural La Honda with his wife and son.

The power of positive reinforcement is a cornerstone of both New Age self-help philosophy and the best part of a session on the therapist’s couch. With the Feel Good Tracker, Crane wanted to put the power of self-reinforcement into the user’s own hands. The no-frills app has a deliberately simple interface. It starts off with a blank screen for new entries, with space for a title and notes, and the option to reward oneself with up to five gold stars. If only outside affirmation will do, there’s an option to e-mail each entry. That’s it.

“It’s like what you get in kindergarten. It’s kind of a little reward system,” said Crane, referring to the gold stars.

Crane said he will release an update which allows users to upload photos, and he hopes it will help sell the app, which has fewer than 500 downloads so far.

He’s also developing a version of the Feel Good Tracker for the Windows Phone 7.

The Feel Good Tracker was born from an epiphany Crane had while talking to his brother-in-law on a trip to Idaho in 2009.

“He thought it would be neat to have a way to encourage each other to go biking and hiking and doing other forms of exercise,” said Crane, who uses his app to track the mountain biking he does every day. He says he’s lost weight, and so has his brother-in-law.

Before long, the growing list of accomplishments becomes its own reward, according to Judy Miller, a friend of Crane’s mother-in-law who downloaded the app and uses it to monitor her blood pressure.

“I recorded it every day to see what it was and whether it would go down depending on what I did,” said Miller, a civil servant who lives in Sacramento. The result? Her blood pressure dropped substantially — and she had an activity record to bring in and show her doctor.

Crane has heard from other people who have used his app to keep to an exercise regimen, track the health of an ailing horse, and help their child manage her anxiety.

At first, the app wasn’t even intended for public consumption. It was just Crane teaching himself how to design something for the iPhone. He wanted to show himself that he could so something new after more than eight years as a software engineer with Cepheid, a Sunnyvale-based multinational corporation that manufactures devices for DNA and anthrax testing.

Crane left Cepheid a few months after his mother passed away in July 2009. “It was kind of a ‘life is too short’ moment,” he recalled.

He didn’t know what he wanted to do with his life, but he did know he wanted to be able to spend Christmas with his family without worrying about having to get back to the office. Last Christmas, he spent a month with his daughter, who was home from college. They saw movies and took hikes together. It was worth five gold stars.”

 

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