Signs That Your Startup Is Failing

Signs That Your Startup Is Failing

Every second person that you meet may seem to have their own start-up these days, but not all of them are succeeding. The thought of having your own start-up does have a nice ring to it. But in reality, it is not everyone’s cup of tea. Truth is that running and sustaining a startup is more difficult than beginning a new one.

Keep a lookout for these signs if you feel that your startup isn’t doing that well.

Signs That Your Startup Is Failing

No audience!

This is one of the first and major problems that you may face. You may have put a lot of efforts in designing your product, making it as user-friendly as possible, but to realize that no one actually needs it is really heart breaking. Think it through, ask advice of others, consult people before launching your product.

Or there are chances of happening the opposite too, that the product receives good customer reception, people sign up to the mailing list in huge numbers, but customer acquisition rates are going down. People are just signing up but not actually buying the product.

Shrinking market

It is difficult to sustain a business in a shrinking market. If your company is unable to handle the competition, the price is becoming a concern and demand is gradually decreasing then it is time to rethink your position in the industry.

Deviation from the core product

Managing time is a real challenge and not everybody can win it. If you get more engaged in other aspects of your start-up and deviate your attention from improving the core product then you are destined to doom. Competitors do not come announced and you may never know when they might sweep your business away if you keep yourself busy in other distractions which may pop up along the way. So keeping your attention focused is a must.

Dying enthusiasm

The excitement of starting and running a new business of your own have chances of wearing off. When obstacles come in your way, the thought of running and leaving it all of behind may come in your head. After all, the stress of managing all the things from designing, marketing, financing, accounting, promotions, sales, customer care etc. is not less. Some people are born with the talent of entrepreneurship, some learn the tricks of the trade but some are definitely not meant for it. Trying it may seem tempting as it is trending these days but sooner or later the truth will come out. The point is to keep the spirits high. Don’t overburden yourself with achieving all in the beginning itself. Give it time. Slow and steady wins the race. Enjoy the journey of your business. Don’t rush it. Savor each moment.

No plans for monetization

Charity is good. But if your idea is worth it then start of monetising it if you haven’t already. Always keep the option open.

Cutthroat competition

The market is flooded with numerous start-ups. If your idea is not unique and innovative enough or it is not being marketed properly then it is a problem you should be worrying about.

If it is in a commodity market then, price wars may get into your way. Try to keep your product or service as cheap as possible to avoid being run down by other large-scale manufacturers or service providers out there.

Do not get demotivated if you notice these signs. Remember, the taste of success can only be felt after having failed. So don’t be afraid of failures.

Take them in your stride and give them a seasoning of your own endurance! Times change for everyone. The tables will eventually turn. The real question is: Are you working on your weaknesses and making proper use of your strengths and capabilities?

There are a lot of things we don’t like about ourselves. Instead of worrying about things we cannot change, we need to work on our bad habits which can be replaced by some good ones.Never limit yourself to what you already know. Embrace your dark side, and incorporate them into your work. All of the best stuff comes from it when you allow yourself to remain open to the unknown.

The world is full of examples. Examples of people who have achieved laurels in different fields regardless of their injuries, disabilities, low-income conditions, marriage bounds, or conservative families issues. This is your life. You and only you get to decide what you want to do with it. You can’t rely on someone else for your happiness. You can’t blame someone else for your failures. People tell you all kind of things, force you into decisions, but it’s you in the end who makes the decision.

You can’t rely on someone else for your happiness. You can’t blame someone else for your failures. People tell you all kind of things, force you into decisions, but it’s you in the end who makes the decision.

Regain your Freedom: Top 10 Reasons you Should Start an Internet Business

The internet has transformed the way many things work, and business is undoubtedly one of the foremost areas in which the internet has become a sure-fire key to success. An internet-based business may or may not have a brick-and-mortar home in the real world (and if it does, it’s called a click-and-mortar business), but it can certainly provide a strong financial foundation. An internet business, once it takes off, can be a gift that keeps on giving. Read on and you will find even more reasons you should consider for starting your own internet business.

  1. Increased job security
    Corporate machines will often downsize and get rid of people just to cut costs, no matter how loyal they are. On the other hand, jobs are getting scarcer and suddenly losing one can be catastrophic if you can’t get another one soon. Job security is one of the top priorities to look at before entering any venture, and it should be no different for internet businesses. The good news is that since the internet is not going anywhere for a long time, job security with an internet business is almost always high. Just think of how long Amazon and eBay have lasted (and will last for years to come)!
  1. Do-it-yourself nature
    Pretty much anyone with internet access and business savvy can create an internet business. Access to the internet spreads wider by the day and the cost falls too. Even if you can’t code, you can either learn to or hire someone else to do it for you. So no matter what your age, educational qualification or skill set is, you can set up an internet business.
  1. Smaller startup costs as compared to traditional businesses
    With an internet business, you don’t need to worry about renting office space in a prime location: any real estate you need is virtual. Domain names can be registered for lesser money than take-out at popular restaurants – BigRock and GoDaddy offer .com domain names at Rs. 200-300 per year. If your business involves creating a large database, you can do that too! To take baby steps at the beginning, all you need is a computer connected to the internet.
  1. Wider range of products and information
    If you look at ads of websites like Flipkart and Snapdeal, they boast of a wide range of products and indeed, they do offer a staggering range of products online. When ordering these products and paying for them can be done remotely on the internet, you don’t have to worry about storing them yourself. Warehouses will do the trick and the possibilities of automation there are immense.
    In addition to this, considering the limitless space available on the internet, you can also provide more and more information to your customers.
  1. PR more manageable
    On the internet, websites get ranked based on how many legitimate connections they make and how positively they are reviewed. This makes public relations and managing the company’s image much easier. For instance, if you tweet in a friendly way, you’re viewed as a company with a soul. With just a little consciousness, you can make sure that your business puts its best foot forward.
  1. Put an end to limitations
    When you set up an internet business, you take charge of your profession: you decide how long for and how hard you want to work. Of course, you can reap more benefits the more effort you put in; but if you decide to just do enough to supplement your income, you’re free to do that. And when you’re free to do what you want, you end up loving what you do.
  1. Work from anywhere
    The internet is the same all over the world. This means that you can control your business from anywhere with a computer. Your customers can live in any part of the world yet reach you with just a click of a button. Geographical boundaries mean nothing on the internet.
  1. Open all day
    An internet business need not take lunch breaks, vacation or time off on holidays. Your business need not go to sleep with you; it can remain open and make money for you as you sleep.
  1. Control your income
    You can either make your internet business your primary source of income or just use it to supplement what you already make. Put in more hours, provide good products and services and you’ll make more money.
  1. Get a share of money spent on the internet
    How do you even make money online? Well, the convenience of ordering products online and having them delivered to one’s door means that people are increasingly spending money on the internet. Your salary can very well come from that; you just have to sell something people will want to buy.

Kick Start Your Career as an Online Entrepreneur: What to Do and What to Avoid

Kick Start Your Career as an Online Entrepreneur: What to Do and What to Avoid

Starting an online business is in many ways similar to setting up a brick-and-mortar store. You must firs identify a need and a market for it, draw a strategic and practicable business blueprint, arrange for funding, develop a unique and value added product and get to work on branding and marketing for sales and profits.

However, there a few unique differences when running an online-online outfit you need to consider as an entrepreneur.

  1. Plan your business

Like every serious business, you need a roadmap that draws up the path that originates with your vision up to your mission and expectations. Your business plan will include a market analysis, your funding plans, as well as a SWOT analysis to properly position to gain market leadership.

  1. Write your business plan

After you’ve come up with a unique business concept and plan, you will need to write it down. It’s also important to keep your business plan lean, except of course if you’re planning to get a big loan from the bank. A lean business plan is easier and quicker to write and breaks done the plan to basics.

  1. Register your domain name and set up your website

Next is to create a brand-able and a keyword-rich domain name and register it using the right TLD, most preferably .com or your country-specific TLD, such as co.uk to achieve better market visibility and recognition.

  1. Make it legal and insured

There a number of guidelines to legalising and insuring your business. It is also important to get the right insurance cover to ultimately protect the business to ensure it outlasts any crisis or even the owner.

Generally, the same rules and principles apply, but there are still a few subtle differences you should take note of.

In online entrepreneurship, the most important legal requirement is the online business law which essentially aims to protect customer’s personal data, as well as their privacy and intellectual propriety.

Make sure to get yourself familiar with the aspects of business law applies to you.

5. Don’t hesitate too long to launch a product/service

There’s a common rut a lot of online budding entrepreneurs fall into when setting up their business outfits: They get stuck for months and are unable to produce or create something the market needs.

Many entrepreneurs make several excuses forgetting hung-up, but whatever those reasons are which may also resonate with you, shake it off quickly and create value and make sure your product has a solid USP and with a tangible market.

Understandably, your first attempts at creating a product or service may have some flaws, but it gets better with time, along with its money-earning prospects. It’s important to remember that success is not something that comes instantly. Many of our greatest business minds have only been able to get into the positions that they’re in today after making a series of failures, learning from their mistakes, and building a business that is successful.

Happy Customer is the only Purpose of Any Business

Happy Customer is the only Purpose of Any Business

How irritated do you become, as a consumer, when one of the items you buy turns out to be defected? What adds further to the annoyance is when no one at the shop answers to your call, forcing you to go all the way back to the shop to sort out your queries. You would most probably never return back to the store.

“The true test of a business’ customer service effort is not when things are going right, but rather what is done when things go wrong.” A satisfied customer will keep buying from you, and also refer other people to you. It is a sort of marketing of your product that happens on a secondary level. “Courteous treatment will make a customer a walking advertisement.” All of your customers are your partners in your business. So your most important job is to ensure quality, quantity and customer satisfaction.

The Thumb Rule: The customer is always right

They may not be right, but you have to treat them like they are. Use the words they like to hear. If they don’t like how you sell your product, they would probably never do business with you again. Listen to their problems, and provide them with a solution, according to their needs. It is important for you to realize that you can’t push them into buying your product. You have to impress them. Focus on understanding your customers at an individual level and treat them like the kings and queens they are.

The next thing that you should keep in mind is reliability and integrity. Give trust and you’ll get double in return. It is very important for you to be truthful about your product and stand by your words. The buyer’s priority is the most important; keep their needs ahead of yours. Because it is not your boss who pays you wages, but your customers who decide your salary.

You may feel proud when a customer leaves the door buying your product, but the real deal is when he comes again, and when he recommends other people to do business with you. You may fool your customer once, or even twice, but you lose out on a customer and a potential consumer base of 10-15 others. Customer retention is the most important sales and marketing tool of any business. Customer experiences decide the future product: when make your customer feel good, you are creating enlightening experiences for them. People will remember the product from the way you treated them, not by the price tag.

The other ways to keep your customers satisfied is to frequently interact with them. In this tech-savvy world, most people hangout virtually, so you need to be where they already are. Facebook, Pinterest, LinkedIn, Twitter, YouTube, keep engaging them by having discussions and asking for feedbacks. Update them with the features of your latest launches. Educate and guide them to choose the right kind of product according to their priorities, needs and wants.

Brand name is all that counts. Build a name, build a reputation.

If a customer complains, you have an opportunity to make him happy by fixing the wrongs and providing him with a little more.

“Know what your customers want most and what your company does the best. Focus on where those two meet.”

Strong Leadership Transforms Vision into Reality

Strong Leadership Transforms Vision into Reality

Everyone dreams. But there is a difference between a dreamer and an achiever. Who is a successful entrepreneur? The one who is able to turn a simple idea into a sellable product. How do you bring a simple concept to become a successful business venture? Can you do it all by yourself?

No, you need to assemble a team of members who are willing to stand by your venture and become a part of it. To manage a company or a business, you have to be a good leader. Your team will genuinely put in all their efforts and work towards a common goal, if you are able to convince them that you are trustworthy and you are working for the good of all, keeping all their interests in mind as well.

A leader is not only responsible for the whole business venture; he is equally responsible for all the team members as well. You business and your team are a reflection of yourself. Only when you are completely honest with your team members, will they trust you. Only when they trust will they be inclined to follow you. You are absolutely accountable to each one of them. Failures are a part of business, but you can’t shift the blame on a co-worker, because in the end, it is you who represents the company in the market. Your decisions should be ethically both morally and legally sound.

Don’t promote an atmosphere of bad work ethics and favoritism in the office. You have to stand strong in every situation because there are many who are looking up to you. As a leader, you have to a source of inspiration.

When you hire someone to work with you, you need to make sure the person is on the same page; if he understands what your company aims to achieve. It is important for you, as a leader, to give him an imagery, to get to see and understand your vision. You need to keep encouraging your team members, regularly appreciating their efforts, making them realize their mistakes in a subtle manner, and keeping them enthusiastic and positive.

Make them see the light, make them feel the heat.

Knowing what you want to accomplish may be clear in your head, but you should be able to explain to your co-workers, so that they all can also relate to your vision. There is no point having a great plan when you can’t clearly describe what you really want to be done. Training new members and keeping the old guys to keep working for your company takes lines of productive, effective communication. Your team members should be able to talk to you openly about issues that interest or concern them.

Be strong, not rude.
Be bold, not a bully.
Be thought, not lazy.
Be humble, not timid.
Be proud, no arrogant.
BE a leader, not a boss

Lead people from the back, let them believe they are in front.

The Hyper Reality of Stock Market Fluxes

The Hyper Reality of Stock Market Fluxes

The market forces a swing in the direction of stock prices every day – it’s simply the law of supply and demand that creates the fluxes. Yet, there is more to it than the exchange of products and services.

But we’re not here to discuss the simple basics of the stock market.

The hyper-reality that dictates much of the global transaction can be attributed current events.

It’s the reason why a simple tweet from President Trump can drop Toyota stock, losing them $1.2 billion on their market cap. It’s the reason why Nintendo stock can drop 7 percent even after revealing their new console, the Switch. Or even how ‘fake news’ has created rumors and disruption on Wall Street.

It’s safe to say that investors are fickle.

The general consumer base could be enthusiastic about a product or service launch but if investors are on the fence then stock can go either direction. It makes or break for the publicly offered company.

The market goes through a turbulent time whenever there are big changes:

·  World events

·  Economies

·  Hype

·  Scandals

·  Natural disasters

·  Politics

Speculation being the mother of them all. Trends following suit.

Who would have thought how the market would react after the most recent election of Trump?

There are ways to keep ahead. These are tidbits of information that can send you soaring into tremendous returns on your investment or bottom you out faster than you can hit cancel on the trades.

It’s a Wall Street bet and you’re ready to play the game.

Here are some ways to keep your pulse on the speculation and trends:

·  Stay on the beat – You don’t have the multi-million dollars’ worth of revenue to pay analysts and players to monitor the action compared to large firms. Good, you don’t have to. Save your money. Instead, follow today’s stock upgrades by tapping into data aggregation sites such as MarketBeat.com to see the best picks from respected brokerage firms. Read into the data, check the rating and suggestions, and you’re already ahead in the game.

·  Follow China – There’s no beating around the bush that China is, perhaps, the dominant player in the global market. Globalization is here to stay and much of what China plans will dictate the entirety of the market. Do yourself a favor and subscribe or follow ShanghaiDaily.com, Reuters & CNBC’s ‘China’ section, or go as far as learning basic, conversational Chinese to talk with other brokers in the actual region.

·  Data Scraping (Twitter Style) – Twitter may limit the conversation to 140 characters but it doesn’t mean it can’t have a substantial impact on the market. We’ve already covered how a tweet from Trump (and other influential individuals) can shape stock but you can go one deeper. Services such as Dataminr provide advanced analytics to scrape and report on trends found within social platforms (especially Twitter) which can be used for projections and reinforcing speculations. You now know how the market is reacting to news and trends in real-time through the clever use of data scraping and mining.

The Web has been an incredible game-changer for improving your investing. You can certainly take the time to keep journals, be logical, and keeping calm but when you’re ready to bet big – you’ll want to tap into the big data that’s available.

So, keep up with the trends, follow the global leaders, and roll up those sleeves to try online services to gain an edge in the marketplace.

Your turn: What process do you take to capitalize on trends that will affect the stock market?