For over five years now, startup activity has experienced massive growth around the world. In fact, a post on the City A.M. blog shows that “a staggering 100 million businesses are launched annually, according to figures from GEM Global Report. It comes to just over three businesses every second, or 11,000 per hour.” However, does that mean that starting a business is easy? Well, I will say that starting a business is easy, but starting a business and making it a success is very difficult. Landing your first paying customer is even more challenging. Interestingly, as many companies are turning into successes, more and more companies with killer services and products are failing on a daily basis. In an article published on LinkedIn Pulse, Kevin Vyavahare showed that “The failure rate for new startups seems to be around 70% to 80% in the first year and only about half of those who survive the first year will remain in business the next five years.” However, no … [Read more...] about Growth Hacking Tactics For Beginners (How To Use Them To Grow Your Business)
New business growth
Over the years we have seen growth in number of start-ups that are successful, some may have had a brilliant idea but failed due to multiple reasons, few are in early stage companies and bound to grow large any small start-up or a business. All the start-ups contribute to the network and a lot can be learned from them, no matter successful or a failure. Here we will revisit some basics for starting your own business; few elementary level insights. Read: From Solopreneurship to Entrepreneurship There are some business basics that should persist in any company, new or old. While established companies may have found a way to tweak around with these, for a new business owner or entrepreneur company it becomes essential to nurture it like a tree (maybe that’s why the first financial stage is called “Seed”). Business by definition means trading goods, services or both in a commercially viable and profitable way. On the other hand, a startup is a company or a “stage … [Read more...] about What are the Basics for Starting of Your own Business?
Consider this – You have a product in the market. You need to bolster your sales and what if you do not happen to be a member of the marketing team, how would you increase you sales? Even consider this – If your product is a market fit, i.e. more than 40% of your customers would ask you to bring back the product if taken off shelves. How would you scale then? One fine day, I sat down for my routine reading and I came across an interesting article by Andrew Chen, an Adviser/Angel Investor in the Valley, titled – ‘Growth Hacker is the new VP of Marketing‘. That just spun my brain into thinking how could this new term – ‘Growth Hacking’, which I wasn’t quite familiarized with at that time, manage to replace, or rather replicate the VP of Marketing? How could this new term possibly make something obsolete that was present since the beginning of early corporate industry? This might be taking a toll on you by now, wondering what exactly … [Read more...] about What Is Growth Hacking and Why You Need To Know About It
So, here we come to the end of this series of Growth Hacking articles at ShoutMeLoud. A lot has already been discussed about what exactly Growth hacking is and the tools for making the most of this technique. If you have somehow managed to miss through these articles, I have listed down growth hacking resource which every blogger and entrepreneur should read: This brings us to the last and probably the most interesting part of this series, as I believe that when examples go hand-in-hand, things get engraved in our minds. For late comers; Growth hacking is the ability to quickly scale products and companies without the use of traditional advertising and marketing techniques. Now, lets look into some of the practical implementation of growth hacking techniques by many popular companies. 11 Popular companies using Growth Hacking techniques AirBnB The growth hacking techniques used by AirBnB, the poster boy of growth hacking has been talked about in the introduction article. … [Read more...] about How 11 Popular Companies Have Applied Growth Hacking Techniques
Selecting a niche can be difficult for a new blogger. Perhaps when they read blogs like ShoutMeLoud, Problogger or other similar blogs, they become motivated to write about blogging, wanting to create a blog within the same niche. Or, sometimes when a new blogger reads about how a particular blogger is making money, he decides to blog in a similar style with the hope of also making money. I have seen this trend over time, and while I have seen some who do well, I have also seen many blogs dying off in no time flat. As a blogger myself, it is clear to me when a fellow blogger has chosen the right niche. In my own area of expertise, it is easy for me to see whether an article is original or whether it is simply a poor rewrite of a post from another blog. These days it is common to see new blogs emerging all the time claiming to teach you how to “make money online” or “make money blogging”. Sometimes the advice is coming from someone with very little blogging … [Read more...] about Why New Bloggers Should Gain Experience Before Blogging within the Blogging Niche
While you are reading this, you might get stumped at the idea of learning something from Starbucks. You might still be wondering how could a company that is frequently frowned upon for the quality of food and beverages it offers or for its row over tax issues and staff contracts teach you something! But, as a matter of fact, there is really much more to Starbucks, and one could definitely learn a thing or two from the Coffee giant! Starbucks has been rapidly scaled without losing its regional touch and now even Oprah Winfrey has her own Chai Latte! I am usually not a big fan of the Coffee Giant, but my opinions about them changed after I made a few visits and now I always look forward to the experience! It is more about the company itself that drags me toward it rather than the quality of a cup of Coffee it offers starting from $2! So, there I was, at a nearby Starbucks outlet with my laptop plugged into their free WiFi and a Mozzarella sandwich to go with a triple Espresso; wondering … [Read more...] about What Starbucks Can Teach Entrepreneurs About Business & Innovation
When you started your online business, you didn’t intend to keep tapping in one place. You probably started small, but you planned to work towards indefinite progress. At some point, when you took a look at the quarterly report, you realized that the growth wasn’t happening. Can you define the reasons for such state? The online world gives you immense opportunities for business growth. Billions of people are online at this moment. That means you have a great chance to attract your target audience, but you also face huge competition that won’t let you succeed that easily. When it comes to turning leads into customers, you have to try something different than everyone else. Maybe uniqueness is where you fail? There are five possible factors that may prevent the growth of your online business. Many guides and tips promise you to make a difference, but you won’t notice any progress if you don’t analyze your mistakes first. Go through the following list and … [Read more...] about 5 Factors That Prevent the Growth of Your Online Business
Every year many of the startups come roaring in the market with plenty of new ideas, passion, and energy. Being an entrepreneur is not easy. With the launch of the business, comes many responsibilities and an ever growing ‘to-do’ list. One of the high priority items on your list would be managing your books. Bookkeeping or accounting is the lifeblood of the business and poor accounting ethics can damage the company’s reputation and the trust of their clients. So what do they do? They hire an accountant and pay them a huge amount of money to get things done. For start-ups, Bloggers, Freelancers and small businesses hiring a full time is not the best proposition, and so most of these entities hire a professional at the end of the year to take care of their accounting. And as they do not keep their books up to date they end up rushing through the whole process which may be costly and is prone to error because of inefficiency. And even if the owner is good enough in … [Read more...] about Online Invoicing, accounting software – your business needs now
In recent months we have seen how social signals are becoming an important part of search engine optimization. There is no doubt that a well planned social media strategy makes or takes down a brand. For example, Lady Gaga (personal branding) quickly became a smash hit, and social media played a major role in her rise to stardom. Regardless of whether your business is small or large, online or offline – social media provides a great opportunity and advantage for every business. I have frequently written about social media in the past, but I’ve never really targeted my posts for small business owners who are looking to increase sales using the power of social media. So today I’ll be sharing some of the great benefits of using social media for your business, which will help you to decide whether or not social media channels might help to promote your business as it has so many others. In the coming days, I will also be sharing more articles on how to create a presence … [Read more...] about Why You Should Use Social Media For Your Business
So you have decided to take the leap and start your own business. What is your plan to execute your business idea? Few days back, I had shared some of the basics for starting your own basics. I continue taking you to the basics, because the new ways have also evolved from these. I mentioned documentation is like your oxygen mask. Whenever you feel out of breath, meaning defocussed, refer to your business plan. Here we will discuss how to write a business plan for a new business. Like always, feel free to suggest or add anything relevant. A business plan essentially means a plan of action to implement certain processes to reach a certain goal, financial or volumetric. You define everything about the business in the business plan. Products, services, sale, revenue, cost of sale, marketing, financial etc. Yes, each and everything should be documented. Office setup, operational setup, marketing plan, things you will need to run and grow your business. How do I write a simple business plan? … [Read more...] about How to Write a Business Plan for a New Business?