Start-ups can make or break any entrepreneur despite their level of knowledge and expertise. Despite having the ambition, dedication, a great team and product, only a few start-ups thrive. The rest disappear into obscurity. A product or service is always secondary to the founders and executive team. Thus, a start-ups success relies on the founding and managing team.
Crucial start-up business red flags to watch out for:
A business was started for the wrong reason
This is common and many entrepreneurs fall into this trap. Many are times when people have the urge to venture into particular businesses because someone they know did it and made it. What we fail to realize is that, another person’s success should not be a reason to venture in the same line of business. Entrepreneurship success is defined by personality, product fit and luck among other factors.
Lack of a reliable source of revenue
A lot of start-ups fail because they lack consistent revenue. To grow a business, you require consistent income to offset consistent expenses that arise such as; equipment purchase, paying staff salaries and paying utility bills. Recurring revenue from your business is the best form of reliable revenue to grow a start-up. If your business is inconsistent, think about how to make it better or the factors to change.
It does not serve a large market
If you are going to tread down the path of entrepreneurship, it had better be for a worthy course. There is no point of starting a niche business and interrupting your great progress down the line to venture into a bigger market. If you believe that your idea has growth potential, go for the large market right from the beginning. Smaller markets may be limiting and lead to failure of a business that could have otherwise thrived in a larger market.
Does not suit your personality and marketing style
Every business thrives in different marketing styles that rely on different personalities for great execution. For example, your start-up may require you to go out, meet prospective customers and deliver proposals. However, you may be poor at pitching or developing proposals. Moreover, you may not be good at discussing business with strangers. Therefore, if you invest in such a business, you will lose interest and lead to failure. If your personal style and mode of doing business needs to find customers one on one, you will have trouble in paradise.
Not fun to work on daily
This happens when you venture into a business that you are not passionate about or do not enjoy doing. If you do not derive joy from doing a business, you will get bored and you will not put up with it for long. If you are able to adjust to accommodate the business start-up then you are lucky. However, to achieve this, you need to find a unique and encouraging source of motivation that will keep you glued to your work.
All a business needs is passion and dedication to thrive. Invest your time, money and emotions wisely to achieve your entrepreneurial goals.
Since its launch in 2011, Snapchat has slowly started to dominate the already crowded social media scene. The iPhone and Android app allows users to send pictures and video that self-destruct after a certain amount of time. Controversial at times, the app has been in the press for it’s popularity, reach and overall dominance in the current market.
This year, the app launched a feature that allows users to enhance their images with fun, sharable filters. And it’s not just regular users who are getting into the fun. Businesses and brands can launch their own ‘stories’ to share featured content and advertisements with the Snapchat user base. But just how well is the social media giant performing and will it continue to grow as a social influencer?
Snapchat User Statistics Broken Down
Snapchat reportedly has 100 million daily active users. In fact, in a January 2016 report, Snapchat revealed that nine snaps are sent between users per second.
Interestingly, but perhaps not surprising, the majority of Snapchat users are millennials. A report in 2015 showed that 73% of Snapchat’s user base identified as millennials. This young audience was shown to be using the app on average for 30 minutes total per day. Of the total population in the United States, Snapchat is actively reaching 11%. While this may seem low compared to Facebook and YouTube, it’s significant for a company that only has four years under its belt.
Facebook has actively been pushing video on its platform, even introducing video ads last year for users. With a much larger user base than Snapchat (over one billion and counting), Facebook averages about 8 million video views daily. What’s interesting is Snapchat is catching up, and quickly. Daily, Snapchat sees users viewing video 7 million times. This includes personal snap videos and branded videos in the Discover section.
Digital marketers are spending 500% more money to reach the millennial generation. With Snapchat reaching so much of that audience with daily picture and video views, it’s no wonder they are looking to the platform as a viable marketing opportunity. But how has that affected the company’s bottom line?
How Much Does Snapchat Make?
Advertising has become common on the Snapchat app. Late last year, the company launched a business stories section called Discover. Brands like MTV, Vice, Buzzfeed and more now have the ability to create daily Snapchat stories that promote their original content. Within those stories are advertisements for upcoming movies, product launches and more.
This advertising revenue has made an impression on the business’s worth. In 2014, the company reported $3 million in total revenue. In 2015, the number had increased to $50 million. While the numbers for this year won’t appear for a while, it’s likely that the number will increase once more.
Snapchat was once considered a fad, but it clearly has staying power. With more users interacting with the app daily, and features rolling out, this could be an opportunity for businesses to reach a new audience.
Marketing is one of the most important elements of a business and without proper marketing strategies, success is quite unlikely. This is because marketing gets your products and services known to potential customers. There are two broad categories of marketing that have been used and these are online marketing vs. traditional marketing. Online marketing is sometimes referred to as digital marketing and it has only been around as long as the internet. Traditional marketing on the other hand comprises a broad mix of techniques and methods that have been used for ages (ever since the inception of business). In order to identify the differences between traditional and online marketing, then later determine which is better, it is important to examine the characteristics of each.
Traditional marketing mix
The traditional marketing was used before the internet and is still used today. It features the following;
• Print media – Magazine ads, newspaper ads, brochures, newsletters, directory listings and other printed materials that contain ads.
• Broadcast media – Mainly uses television (TV) and radio ads.
• Direct mail – features flyers, catalogues and post cards sent directly to customers physical mail address.
• Telemarketing – Through telephones and faxing machinesEach traditional marketing technique has several desirable benefits and advantages. Most businesses used a couple or all of the existing methods in the mix. The crystal advantages of traditional marketing include the following;
• Proven practical techniques that have scalable measurable and high success rates
• Numerous metrics for measuring your success with any given technique
• They use long-standing initiatives that have been around for years and are effortlessly understood by the public.
Online marketing mix
Online marketing is quite easy to understand and mainly involves efforts that are anchored using electronic digital devices like social media, websites, banner ads, Google (search engine) ads, video marketing and content marketing among others. The broad range of online marketing features blogs, affiliate marketing sites, paid ads that appear on search engine results, sponsored ads and social media targeting. Online marketing is solely facilitated by the internet and internet services. It also includes electronic mails. The strong advantages of online marketing include the following;
• Cost efficiency – marketing online is significantly cheaper than most traditional methods
• Unprecedented audience – with internet marketing, you can reach millions of users across different countries. There are no boundaries provided you can deliver the product, service or information needed.
• Direct response – unlike most traditional one way marketing methods, online marketing offers opportunity for direct response from the audience. What’s more, you can get instant response.
A representive from a reputable SEO company in Irvine CA, informed us that projected search engine marketing spending will surpass $70-80 billion dollars in the next few years. What an astounding number to take into consideration!
Head to head comparison
Traditional marketing techniques cost anywhere from $150 (broadcast) to $900 (direct mail). Online marketing means barely reach $100. SEO and online searches cost around $50 while social networking will rarely go above $75.
Online marketing offers unlimited messaging opportunities with convenient frameworks that allow immediate response from customers. Traditional marketing is time consuming and involves sending direct mails and waiting for responses.
In terms of metrics, online marketing provides readily available metrics for traffic, opened mails, follow up activities and number of people who saw the ads. Traditional methods offer metrics too but not as comprehensively and first as digital ways.
Lastly, online means offer enhanced accessibility as since 4 out of 5 phone users shop online and many people spend time online. While online marketing vs. traditional marketing is a one way win for online, it is advisable to use both.
Do you know that the internet is responsible for over $2.2 trillion retail sales in a year? If you are still struggling to leverage the web to support your business growth, then you need to understand how it contributes to world economy growth. Besides, this impact will continue to increase, but the benefits will only go to those informed. This article compiles a list of the latest in mobile browser use statistics to help you make appropriate decisions for your online business.
Of course, you know that mobile marketing is important; so it is no longer a case of asking whether it is! It is now a matter of using statistics to analyse and understand the response of customers to different types of browsing devices and their most preferences. In particular, the mobile usage has exceeded the PC internet usage, changing the landscape in which business operate significantly. It is the time for you to consider seriously integrating all your mission-critical assets such as data, applications, communication, the website and customer service with mobile-friendly versions.
Here are the latest in mobile browser use statistics and facts to help you keep updated with the boom in company and customer adoption of mobile devices and its impact on the internet business.
- The number of mobile accessing the Internet has surpassed those of desktop. Recent studies estimate 52.7% of people all over the world to access the internet via mobile. Furthermore, 75.1% of individuals in the US use their mobile to go online.
- In the US, mobile media time has exceeded that of desktop, and it currently stand at 51% compared to 42% for desktop.
- Despite the higher mobile usage compared to that of desktop, desktop adverting spends is still slightly greater than that of mobile spend. Desktop advertising spend is currently standing at 51% of digital spend compared to Mobile at 49%.
- Many experts project the advertising spend on mobile devices to increase to about 60% of all digital advertising spend by the end of this year and around 72% by 2019.
- The estimate of mobile influence on retail sales in 2015 is in the tune of over one trillion US dollars.
- Recent studies estimate 48% of people using mobile to browse use search engines as their starting point for their search. Consequently, many search engines such as Google have started to consider the mobile compatibility of a site as a significant ranking factor.
- Studies in the US estimate the value of B2C mobile commercial sales to stand at $83.93 billion currently.
- About 80% of customers shopping online use a smartphone.
- Approximately 70% of mobile searches end up in an online action within one hour of conducting the search.
- If a web page takes more than ten seconds to load on a mobile, half of the users are likely to abandon it, and 60% would not try to return to the site.
Following the latest in mobile browser use statistics above, you need to prefer the mobile device as a tool for work and communication in all your day-to-day business focus. Embracing mobile definitely will give you a competitive advantage by offering what customers need and want for them to make a purchase decision. For mobile marketing statistics, check out this interesting article.
Some people think that working as a web designer is a waste of time, while other people think that doing it is quite easy, but they never had an interest in it. Well, all of those people are wrong. Being a good web designer can bring a lot of profit, but you have to obtain certain skills to be a good web designer.
To work as a web designer you will have to be imaginative and creative person, and you will have to posses’ skills in graphics and software programming. In a world of web design new techniques are emerging quite regularly, and you must adapt to them and incorporate them in your designs if you want to survive. Communication and interpersonal skills are also very important.
As a web designer you will work around 40 hours a week, and sometimes even more. When the deadlines are bad you will have to sacrifice the weekend as well. Once you find a client he will give you guidelines that you will have to follow.
Most important guidelines are the targeted audience and type of content that must be found on the webpage. After that there is code writing, input of graphics and so on, and all of those things must be done step by step.
Every web design starts with client and his need. Once designer gets all necessary info from the client he starts the project. First steps in the project include the establishment of the website purpose that is done through research of the audience.
Next step is identification of content that will benefit the website. This also includes the planning of disposition of the different parts of the content. This is followed by determination of functionality of any additional things on the webpage.
For example, enquiries and financial transactions are a big deal for a web designer, and their incorporation into the design that time.
One the designer has some basic outline of the website he has to talk with the client to determine the best set of colors and styles as well as the complete layout of everything that will be a part of the website. When the client explains all the little things they want and a designer agrees on them, the designer starts the hard part of the project.
When you have passed all previous steps of the project, your creative skills are replaced with your code writing skills because the next step is writing of programming code.
Writing a code can be done from the scratch, where the web designer creates new code out of nothing. But this can be done differently by using an already existing website as the background and doing adaptations of it. This can be done to graphics packages as well.
When the code writing is finished, the testing stage begins. In this stage the web designer tests the website and corrects any problems that are found.
When testing stage ends it means that the website is complete and the last step is to upload it to a server and register it with search engines.