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How To Use Technology To Boost Your Business Performance

January 9, 2020 in Cultivate, Startups

In the list of things that make a business to prosper, perhaps technology has today found the topmost place. In this age of science and technology, you can make the best use of technology for executing your business goals. Technology helps entrepreneurs keep everything in an order as well as ensure the best check and balance.

Technology in business

Invest in productivity software

Many things can create a block in the employees’ performance. It is very difficult to implement new strategies every day. Invest in the right kind of advanced software that can work fast with no errors. Such software help increase productivity by improving the performance.

Stay connected to your customers

Successful businesses must find ways to stay connected to their customers 24 X 7. A superior customer service can help attract and satisfy targeted people. Establish an online communicative environment to take the orders as well as solve the client problems.

Create a great website

Today most searches for businesses happen online than offline. Have a user-friendly website and implement the best SEO practices to increase the visibility of your business.

Use technology to evaluate your employees’ performance

It is necessary to compare and evaluate your employees’ performance by using the right kind of software. Compare their performance month after months and motivate them in order to boost up sales. Make some internal changes to get the most from them depending on how productive they are.

Take advantage of crowdfunding option

Capital is the basic requirement to start a business. Today no more are many entrepreneurs thronging at banks for getting business loans. You can project your business vision online using technology today to attract crowdfunding.

Benefit from Blockchain software

Companies make use of Blockchain software to keep the record. The inability to keep a proper record can lead to disorder. Blockchain can help verify and record this transaction. Use of Blockchain can help you rule out the need to depend on brokers who prove to be very expensive. By moving to Blockchain software you can save enough money to invest back in your business.

How Financing Press Releases Can Help Boost Up Startup Growth

March 2, 2018 in Cultivate, 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 Cultivate, 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.