What you need to know about start-ups
- Every start-up entrepreneur believes that a sustainable and profitable enterprise can be built; this belief is reinforced by expertise in the product or service that the company will be able to deliver.
- An expert in a particular chosen field has massive advantages; he or she does not require the necessity to learn the product which has a nasty habit of affecting so many start-up entrepreneurs.
- However, expertise in the chosen field alone does not guarantee success; a fruitful business needs to provide clients with services that they perceive to be a lot more valuable and desirable than the products and services that they will be able to acquire from your competition.
- The challenge for start-up entrepreneurs is to ensure that they create a business that will provide the kind of package which will attract customers away from their competition and then communicate the offerings to the consumers.
New businesses trying to enter an established market will often imitate the established players to fit in with customer expectations. If a new, little business, offers the same as a more established enterprise, the customer’s viewpoint may be about why they should use the smaller supplier.
If you are unable to offer nothing different aside from experience in that particular industry then you need to design a more attractive package.
Here are eight clever ways to overcome customer no-show:
- Capitalise on your experience.
- The size of the enterprise could hold the promise of shorter communication lines.
- The new entrepreneur could include a couple of free services or other differentiating benefits.
- The free services don’t need to be product related – an example is specialisation in a niche area to such an extent that you will become the acknowledged expert in that area.
- Challenging industry norms is often a way towards success.
- Many organisations have become very successful by creating their own rules – these include industries as diverse as airlines to pizza marketing.
- Successful entrepreneurs understand the ins and outs of marketing and selling – and along with financial management these will prove to be as important as product and service knowledge.
- Entrepreneurs should never underestimate the need for effective marketing and selling as these alone can provide the differentiation from other competitors.
For the majority of struggling entrepreneurs take an honest look at your offerings as if you were the customer making comparisons to other suppliers, and even if your ego is bruised – you need to start thinking out of the box, become creative and design the killer package that will build a successful start-up. The above are eight clever ways to guarantee success for your start-up.