When the 2000s began, many people saw lots of new business opportunities, the industrial age was passing by and now it was time for the information era to take place (with the help of the internet), so the resources needed to start a new profitable project became less than before, and the costs are still getting lower.
The internet has given so much helpful tools to the average people that allows them to start a business right away. But with the easy startups also comes with a lot of competition, therefore it makes it difficult to succeed.
The internet has given so much helpful tools to the average people that allows them to start a business right away. But with the easy startups also comes with a lot of competition, therefore it makes it difficult to succeed.
When I was writing the article about getting your first employee, it came to my mind to research as much as I could the reasons why small companies or starting businesses fail on the very early stage.
There are many different points of view about this topic from many experts, some of the reasons are kind of obvious and some I never had in mind before.
Now things are changing quicker than 10 years ago. When before (for example) one reason was not having enough capital to keep the project operational, today many business models not even need one dollar to start, time and work could easily replace capital in these days.
Other reason is that before a physical presence such as an office, work place, work shop, etc. was essential and if you did not had the odds were that you wouldn’t go so far. Today, for some kind of businesses you might only need a smartphone.
The key factors which were important one or two decades ago are not in many of today’s businesses. So what things we need to pay attention today to start or grow any business? After checking some sources I concluded with 4 key factors below, in the near future I will be addressing each one in one article to take best advantage of them business wise:
Website
The first thing you have to do with your business (even before the business starts), is to create a website. In the modern business world, every company should have a website; there is no other way around.
A huge amount of users surf in the Internet every day, and having a good looking website showing your product or services makes your customers find you easier.
Recommended book: The Small Business Website Checklist: A 51-Point Guide to Build Your Online Presence the Smart Way
Social Networking
Using social networks for business has become very popular tool for marketing and networking over the last years, and the main reason is, because it works!
This is a must-do on your business, create profiles for your companies on Facebook, Twitter, Google+, Pinterest and others, and add people related to your work area, is very probable they will add you back.
Recommended book: Likeable Social Media: How to Delight Your Customers, Create an Irresistible Brand, and Be Generally Amazing on Facebook (And Other Social Networks)
Good company
This key factor may be useful also during the old times, in the present days is also essential. If you are doing business together with a partner, make sure is a good partner, don’t surround yourself by negative people while doing business, and better not unexperienced either. Keeping a good team on your side makes a significant difference to make a startup business grow successfully.
If you work alone on your business, then your good partner must be yourself, being a good partner to yourself means that you have to keep yourself learning new and useful things, keep yourself with enough motivation to keep going, and keep yourself in good health. And if your business starts to grow and workload starts to increase, is recommendable to hire an employee to avoid of being burned out.
Recommended: Practical Team Building - How to Make Teamwork Work with Anybody, Anyplace, Anytime - Business Training DVD Video
Free value
Offering something for free is the best idea to attract customers very fast. It can be a part of your service, a small product as incentive or even information, like creating a blog on your site and posting useful stuff to your prospective customers.
People get very interested and curious once someone offers free stuff, it attracts the attention, if the free value is good and is something that customers like; then they will know that your paid product or service might be much better.
Recommended book: The Personal MBA: Master the Art of Business
Please share with us and comment: which factors are useful for your new business? Do you use other tools to keep your business growing?
There are many different points of view about this topic from many experts, some of the reasons are kind of obvious and some I never had in mind before.
Now things are changing quicker than 10 years ago. When before (for example) one reason was not having enough capital to keep the project operational, today many business models not even need one dollar to start, time and work could easily replace capital in these days.
Other reason is that before a physical presence such as an office, work place, work shop, etc. was essential and if you did not had the odds were that you wouldn’t go so far. Today, for some kind of businesses you might only need a smartphone.
The key factors which were important one or two decades ago are not in many of today’s businesses. So what things we need to pay attention today to start or grow any business? After checking some sources I concluded with 4 key factors below, in the near future I will be addressing each one in one article to take best advantage of them business wise:
Website
The first thing you have to do with your business (even before the business starts), is to create a website. In the modern business world, every company should have a website; there is no other way around.
A huge amount of users surf in the Internet every day, and having a good looking website showing your product or services makes your customers find you easier.
Recommended book: The Small Business Website Checklist: A 51-Point Guide to Build Your Online Presence the Smart Way
Social Networking
Using social networks for business has become very popular tool for marketing and networking over the last years, and the main reason is, because it works!
This is a must-do on your business, create profiles for your companies on Facebook, Twitter, Google+, Pinterest and others, and add people related to your work area, is very probable they will add you back.
Recommended book: Likeable Social Media: How to Delight Your Customers, Create an Irresistible Brand, and Be Generally Amazing on Facebook (And Other Social Networks)
Good company
This key factor may be useful also during the old times, in the present days is also essential. If you are doing business together with a partner, make sure is a good partner, don’t surround yourself by negative people while doing business, and better not unexperienced either. Keeping a good team on your side makes a significant difference to make a startup business grow successfully.
If you work alone on your business, then your good partner must be yourself, being a good partner to yourself means that you have to keep yourself learning new and useful things, keep yourself with enough motivation to keep going, and keep yourself in good health. And if your business starts to grow and workload starts to increase, is recommendable to hire an employee to avoid of being burned out.
Recommended: Practical Team Building - How to Make Teamwork Work with Anybody, Anyplace, Anytime - Business Training DVD Video
Free value
Offering something for free is the best idea to attract customers very fast. It can be a part of your service, a small product as incentive or even information, like creating a blog on your site and posting useful stuff to your prospective customers.
People get very interested and curious once someone offers free stuff, it attracts the attention, if the free value is good and is something that customers like; then they will know that your paid product or service might be much better.
Recommended book: The Personal MBA: Master the Art of Business
Please share with us and comment: which factors are useful for your new business? Do you use other tools to keep your business growing?