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How Financing Press Releases Can Help Boost Up Startup Growth

March 2, 2018 in Startups

Numerous studies reveal us that financing press releases can light up the future of the startups. The biggest challenge in front of every entrepreneur is to raise the required capital for their startup venture. While closing a funding round, it is a smart move to issue a press release and party the milestone you have achieved. Here are some incredible benefits you achieve by publishing your startup financing.

Publishing the financing publicises a company’s valuation

Press releases act like calling cards with the progress of time. In fact, they become a kind of historical markers. When they are published, the market becomes aware of the predictable future growth. Even if the press release fails to mention the specific valuation, the interested individuals can connect the gaps between the various sources of information like blog posts, presentations, online collateral, and tweets.

Present earnings can compare to the valuation

The valuation of a new venture is usually based on the stages method used by venture capital and angel investors. This method helps assign a value to the firm that does not have a marked cash flow right now.

Competitors receive an alert

Even if you might not care about your competitors, the press releases do not escape their eyes. Even those ventures that have not made their entry yet will get to know about your progress. We can call this a double-edged sword.

Helps convince the customers

The founders must understand that the act of financing itself is the result of convincing a small group of people who felt it is worth investing with you. Press releases help stretch this conviction further to the customers who gain confidence regarding the sustainability of the business.

More than valuations, communicating value creation to the wider world is a great investment you can think of when it comes to enhancing public relations for your new ventures.

Can Customer Feedbacks Stop the Product Death Cycle?

January 23, 2018 in Startups

The stories of almost all the successful businesses are often familiar, though the industry that they operate in may differ, and even the size may differ. There is an undercurrent of development and ultimately decline paths that they share and also the business trends that run common.

As a business manager or an owner of a business, you must have heard about the term ‘product death cycle.’ After peaking in your business, the demand for your products slows down, and you take feedback from your existing customers to make it more appealing till the market dies down completely.

The crucial question is: “Can asking customers to provide feedback about what features they would like to have in your product actually save your product?”

The answer is ‘no’.

You will end up spending your precious time and resources on creating or infusing new features in your product but there would be hardly any upward change in the demand.

What can be done?

The situation demands to go back to your start point. What did you do ab initio to make your business successful? What was the factor that set you apart from your competition? What did you offer to your customers that they could not stop buying your product?

Draw those strategies and methods on a paper and compare them to what you are missing in the current scenario.

Don’t focus too much on the current set of your customers—think what you can do to capture new customers. Maybe, think it as a new life cycle for the product.

Always be ready to adopt innovation and change. If you are not ready to adopt change, you are staring point-blank at the disaster. A few patches here and there and some cosmetic fixes might not do the trick for you. Think afresh and start with the same zeal that made you successful at the beginning of your business.

Tips to Become a Successful Millennial Entrepreneur

December 21, 2017 in Startups

Being young is not a curse in today’s world if you want to build something on your own—your experience, though small but significant, will have a say and earn the respect of older professionals if it puts through insights and information that can be validated and proved. Haven’t you seen teenagers excelling at creating new technology applications and registering companies while they sit for school exams?

Well, all it takes to be a successful millennial entrepreneur is to be focused, have consistency and being informational. There is no stopping you if you really want to achieve it. Here are some points that can be helpful for your entrepreneurial journey:

  1. Start small; grow big

Don’t worry about infrastructure and going big in the first instance. Start with a smaller audience or a contract that will get you going. Don’t wait for bigger deals to happen at the beginning. Cash flow is always good for the growth of the business.

  1. Respond to change

Don’t be stuck with assumptions, hypotheses and observations made maybe five years ago. Stay agile and open to change. Your customers are your best validations points: be observant of their behavior and feedback. Never ignore it!

  1. Be consistent

There is no other way to put or stress on their point: be consistent. Don’t leave an idea mid-way and jump on to another fancy that you think has potential and can be pursued as a business idea. Stick with your original idea and make it happen.

  1. Know your numbers and the industry

Keep an eye on what’s going on in the industry that your idea belongs to, and also know the numbers—while pitching for investment or getting people on board, these numbers will come handy.

Summing it up

There is always a chance of failing at something but if you fail fast and learn your shortcomings and also notice the flaws that your idea might have had. Improve upon it but lose faith. Keep going and you will achieve what you desire.

5 Tips for Building a Profitable Business

December 15, 2017 in Startups

A profitable business is not built in a day—in fact, turning any startup into a profitable business is one of the main challenges that majority of entrepreneurs across the globe are facing. Launching an idea; running it for few years without any meaningful income is another thing, but what takes to convert a great idea to profit so that the business could sustain the changes and demands of operations.

Here are 5 tips that will come handy:

  1. Your business plan is not the final roadmap

A business plan is built on assumptions, projections, and ideas that haven’t been tested in the real market. There is a healthy chance that many of these will be proven incorrect; fall short of expectations; and will miss the target. However, as an entrepreneur, you should be ready for such moments.

  1. Team in indispensable

Yes, there are successful solopreneurs but as you grow, you will need a great team that could complement the skills that you have to run your business. Doing everything all the time is simply not possible, and is a huge hindrance to scaling.

  1. Be ready to hustle

When you start a business, you have lots of energy and enthusiasm. Never let it wane away because it will help you to be ready for challenges and setbacks. Keep learning new things that could support your business. Innovate and apply.

  1. Focus on repeat customers

Don’t focus exclusively on acquiring new customers. A business having a pool of repeat customers is always a profitable business. Further, if you keep your present clients happy, they will always be your voice of marketing in their own networks.

  1. Keep improving

Right from the first day of your business, you should have ears and eyes for feedback and suggestions. Get to know the main pain-points of your customers and whether your product or service addresses these concerns comprehensively. If not, build add-ons and integrate them into your offering. Always keep improving because your customers are your best mentors.

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