3 IMPORTANT QUESTIONS ENTREPRENEURS SHOULD ASK THEMSELVES

 

3 IMPORTANT QUESTIONS ENTREPRENEURS SHOULD ASK THEMSELVES


IS THE PROBLEM THAT I AM TRYING TO SOLVE BEING FACED BY A LOT OF PEOPLE?WILL IT STILL BE RELEVANT AFTER YEARS TO COME?

IS MY TARGET MARKET READY TO PAY FOR THE PROBLEM I AM TRYING TO SOLVE?

DO I HAVE THE NECESSARY SKILLS TO GET STARTED WITH MY VENTURE?

MOST ENTREPRENEURSHIP STORIES START WITH A SEARCH FOR PROBLEMS, WITH AN ATTEMPT TO SOLVE THEM.

MAKE SURE THAT THERE IS A NEED FOR YOUR PRODUCT.

ENTREPRENERUSHIP DOES NOT INVOLVE OVERNIGHT SUCCESS.

LEARNING HOW TO MARKET A BUSINESS IS AS ESSENTIAL AS BUILDING A PRODUCT.

LAST BUT NOT THE LEAST, THE SOONER YOU FAIL, THE BETTER IT IS.

(LEARN FROM YOUR FAILURES).

 

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DOMINO’S MARKETING STRATEGY EXTRA OREGANO PACKETS

 

DOMINO’S MARKETING STRATEGY EXTRA OREGANO PACKETS


TOP OF MIND AWARENESS

WHY DOMINO’S PROVIDES YOU WITH EXTRA OREGANO PACKETS?

WELL, THIS IS KNOW AS TOP OF MIND AWARENESS(TOMA)

TOP-OF-MIND AWARENESS (TOMA) IS THE FIRST BRAND, PRODUCT OR SERVICE THAT COMES TO MIND IN A SPECIFIC CATEGORY OR NICHE.


THINK ABOUT IT. WHEN YOU RECEIVE THESE EXTRA SEASONING PACKETS, YOU EITHER PLACE IT ON A SHELF OR IN YOUR REFRIGERATOR.

NOW, WHENEVER YOU OPEN THE SHELF OR THE REFRIGERATOR, THE SEASONING PACKETS COME IN YOUR LINE OF SIGHT AND THEY TRIGGER MEMORIES IN YOUR BRAIN ABOUT THE LAST TIME YOU HAD THAT PIZZA, AND YOU START CRAVING FOR IT YET AGAIN.


THUS, THESE FEW EXTRA SEASONING PACKETS ENSURE THAT AFTER YOU HAVE CONSUMED THE PRIMARY PRODUCT, YOU RE-ORDER IT AGAIN!

ALTHOUGH YOU MAY ALSO HAVE RE-ORDERED THE PIZZA AGAIN EVEN IF YOU HADN’T RECEIVED THE EXTRA OREGANO PACKETS, BUT THE FREQUENCY OF ORDERING GETS MUCH MORE HIGHER WHEN YOU SEE THOSE EXTRA PACKETS LYING AROUND!

 

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JIOMART BUSINESS MODEL

JIOMART BUSINESS MODEL

JIOMART IS GOING TO OPERATE ON ONLINE TO OFFLINE(O2O) MODEL, WHICH MEANS IT WILL CONNECT WITH LOCAL RETAILERS AND DELIVER GOODS TO THE CUSTOMERS BY PROCURING THEM FROM THE NEAREST STORE LOCATED IN THE CUSTOMER’S VICINITY.

THIS MODEL IS UNLIKE THE WAREHOUSE MODEL USED BY MANY OF THE ONLINE GROCERY PLAYERS LIKE GROFERS AND AMAZON NOW.

THIS VENTURE AIMS TO OFFER FREE EXPRESS GROCERY DELIVERY FROM NEARBY SHOPS AND STORES TO ITS USERS. AND MINIMUM OF 5% DISCOUNT ON THE PRODUCTS.

JIOMART AIMS AT CREATING A WIN –WIN SITUATION BY ORGANIZING THE UNORGANIZED RETAIL SECTOR, HENCE BENEFITTING LOCAL SHOPKEEPERS WHOSE BUSINESSES WERE EARLIER BEING ADVERSELY AFFECTED DUE TO COMPETITIVE PRICING.

JIOMART IS EXPECTED TO EXPERIENCE ACCELERATED GROWTH BECAUSE OF THE COMMERCIAL PACT BETWEEN RELIANCE AND FACEBOOK’S WHATSAPP

JIOMART DESH KI DUKAN” SHOP OF INDIA PROUD OF INDIA”WHERE THE PEOPLE ARE SELF SELLER SELF RETAILER, SELF OWNER SELF CUSTOMER, SELF DISTRIBUTOR SELF WORKERS.

JIOMART GROCERIES WEBSITE IS NOW LIVE AND WILL BE AVAILABLE FOR USERS IN 200 CITIES ACROSS INDIA. THE CITIES INCLUDE DELHI, BENGALURU, CHENNAI AND KOLKATA, AMONG OTHERS.

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THE BIGGEST BEGINNER ENTREPRENEUR MISTAKE

THE BIGGEST BEGINNER ENTREPRENEUR MISTAKE
 

NO MATTER IF YOU OWN AN ONLINE STORE, INSTAGRAM PAGE, IF YOU SELL PRODUCTS OR IF YOU OFFER SERVICES. YOU NEED IT.

A CORPORATE IDENTITY FOR YOUR BUSINESS
A LOGO

A THEME

A COLOR SCHEME

STRUCTURE

BANNERS

CLEAR TARGETING

OBJECTIVES

MARKETING POSITIONING

ROADMAP

A PLAN

NOBODY WILL VALUE YOU AND SEE YOU AS A PROFESSIONAL. IF YOU DON’T HAVE A PROFESSIONAL APPEARANCE AND IDENTITY.

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THE 90/20 RULE BUSINESS HACKS

THE 90/20 RULE
 
TRY WORKING AT A RATIO OF 90:20. 
90 MINUTES OF WORK BEFORE TAKING A 20-MINUTE BREAK.
THIS WILL CREATE A “FLOW STATE”, RESTING YOUR BRAIN JUST ENOUGH SO IT’S FRESH FOR THE NEXT 90 MINUTES.

START SEEING OPPORTUNITIES ARE EVERYWHERE

START SEEING OPPORTUNITIES ARE EVERYWHERE

INSTAGRAM THE MOST VALUABLE PHOTO COMPANY, SELLS NO CAMERA

 FACEBOOK THE MOST POPULAR MEDIA PROVIDER, CREATES NO CONTENT

 UBER THE WORLD’S LARGEST TAXI COMPANY, OWNS NO VEHICLES

 AIRBND THE LARGEST ACCOMMODATION PROVIDER, OWNS NO REAL ESTATE

 ALIBABA THE MOST VALUABLE RETAILER, HAS NO INVENTORY

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9 MISTAKES THAT KILL STARTUPS

9 MISTAKES THAT KILL STARTUP

BAD LOCATION
      The location of a business is the place where it is situated. There are a number of factors that need to be considered in choosing a location for a business. One of the earliest decisions any entrepreneur has to make is where to locate his or her business.
SINGLE FOUNDER
By far the biggest challenge for a solo founder is fundraising. The fact is, it’s really hard for one person to run a company, especially in beginning. This makes the whole endeavor much riskier, which naturally gives investors a moment of pause.

RAISING TOO LITTLE MONEY

Lack of Proper Marketing
Getting and Retaining Customers
Money Management
Maintaining Online Presence

HIRING BAD EMPLOYEES
Absenteeism – bad employees tend to be absent more often. This either slows down your teams’ work or requires expensive temps. Less revenue –weak performers will generate significantly less revenue than their motivated peers.


NOT PUTTING IN ENOUGH EFFORT

Putting in that effort every day is more important than any natural talent you might have. On top of that, the grit you exhibit as you work toward business success can lead to learning new skills and building on that natural talent. Grit also allows you to identify opportunities and take advantage of them.

BAD PLANNING/ STRUCTURE
Unrealistic Financial Projections
Not Defining the Target Audience
Over-Hype
Bad Research
No Focus on your Competition
Hiding Your Weaknesses
Not Knowing your Distribution Channels
Including Too Much Information

WRONG AUDIENCE TARGETING
     Wrong age, Incorrect gender, Markets with Barriers, Wrong Market Life Cycle.

CHOOSE THE WRONG PLATFORM
     Platforms fail for four reasons: (1) mispricing on one side of the market, (2) failure to develop trust with users and partners, (3) prematurely dismissing the competition, and (4) entering too late. 

POOR INTERNAL MANAGEMENT
When a company operates without an effective system of internal controls, employees complete job tasks in an environment without the assurance of personal safety. This leads to high rates of employee dissatisfaction, absenteeism and low rates of employee retention.
HAPPY 50TH POST!😍

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CREATIVE SMALL BUSINESS IDEAS PART 2

CREATIVE SMALL BUSINESS IDEAS 
PART 2

1.MOBILE BEAUTY SALOON

START A BEAUTY SALOON THAT TRAVELS TO CUSTOMERS HOMES.
HUGE MARKET IN THE EVER GROWING ELDERLY POPULATION.
CREATE A BRAND. BUILD UP REPUTATION. BUY ANOTHER VECHILE WITH PROFITS.
TRAIN AN APPRENTICE TO OPERATE VECHILE. REPEAT.

2.START A PODCAST
BUY A RECORDING EQUIPMENT – $500

CHOOSE A NICHE. FIND VALUABLE PEOPLE WHO CAN PROVIDE INSIGHTS AND INFORMATION FOR THE NICHE.
BUILD UP A FOLLOWING AND RUN AUDIO ADS AT THE BEGINNING OF EACH PODCAST.

AD REVENUE IS $20 PER 1000 LISTENERS. ONE PODCAST PER WEEK WITH 30K LISTENERS.

PROFIT : $30,700 PER YEAR.

3.WEBSITE DESIGNER
FOR THOSE OF YOU WITH AN EYE FOR DESIGN AND A CREATIVE FLARE.
LEARN SOME BASIC PROGRAMMING SKILLS IN HTML (NOT AS HARD AS YOU THINK).

OVER TIME BUILD UP YOUR OWN BASE OF WEBSITE DESIGNS SO YOU DON’T HAVE TO START EACH NEW ONE FROM SCRATCH.

CHARGE $700 PER WEBSITE. CREATE 2 WEBSITES PER WEEK +$1400 PER WEEK.

PROFIT : $72,800 PER YEAR.

4.DEVELOP A MOBILE GAME
THINK OF A CREATIVE IDEA FORA MOBILE GAME THAT YOU WOULD YOU FIND EXCITING.
USE A SITE SUCH AS UPWORK.COMTO GET YOUR GAME DESIGNED-$2000.
AD REVENUE PAYS $6 PER 1000AD VIEWS. 20K USERS EACH VIEWING 6ADS PER DAY.
REVENUE  : $262,800 PER YEAR.
5.OPENING A LOCAL CAFE
FIND ALL YOUR LOCAL COMPETITORS ON GOOGLE MAPS.
GO THROUGH ALL NEGATIVE REVIEWS AND LIST THE DIFFERENT THINGS CUSTOMERS COMPLAINED ABOUT. TALLY UP THE NUMBER OF EACH COMPLAINT.
REPEAT  WITH POSITIVE REVIEWS.
YOU NOW HAVE A RANKED LIST OF THINGS TO FOCUS ON AND THINGS TO AVOID IN YOUR OWN CAFE!

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CREATIVE SMALL BUSINESS IDEAS PART 1

CREATIVE SMALL BUSINESS IDEAS
 PART 1
  1.REAL ESTATE PHOTO SERVICE
  • AS MORE PEOPLE ATTEMPT TO SELL THEIR OWN HOMES THROUGH ONLINE PLATFORMS, THE DEMAND FOR REAL ESTSTE PHOTO SERVICES IN INCREASING.
  • A BASIC SHOOT FROM A PROFESSIONAL PHOTOGRAPHER COSTS AROUND $250. 8 SHOOTS PER WEEK +$20000/WEEK.
  • PROFIT: $104,000PER YEAR

 2. BLOGGING
  • FIND A NICHE TOPIC TO WRITE ABOUT THAT YOU ENJOY AND KNOW A LOT ABOUT
  • PROVIDE VALUE TO YOUR READERS AND DRIVE TRAFFIC TO THE BLOG THROUGH FACEBOOK, INSTAGRAM, ETC.
  • INCOME VARIES, BUT $1K FOR 30K VIEWS/MONTH IS A FAIR ESTATE
  • PROFIT: $40,000 PER YEAR (100K VIEW/MONTH)

3. NEAREST TOILET
  • CREATE AN APP THAT SHOWS USERS WHERE THE NEAREST PUBLIC TOILET IS
  • USERS CAN RATE TOILETS BY QUALITY, CLEANLINESS, PRICE, ETC.
  • USERS CAN ADD NEW LOCATIONS WHEN THEY FIND A NEW TOILET.

4. ICE CREAM VENDING MACHINES
  • PURCHASE A BUNCH OF VENDING MACHINES ($3 TO $5K PER MACHINE)
  • FILL VENDING MACHINES WITH A COLLECTION OF ICE CREAMS (0.5 EACH IN BULK). SET MACHINES UP AROUND BUSY PUBLIC BEACHES.
  • SELL FOR $2.5 EACH. 30 SOLD PER MACHINE PER DAY.+75/DAY
  • PROFIT : $189,000 PER YEAR (10 MACHINES)

5. DROPSHIPPING
  • FIND A NICHE EXAMPLE :YOGA MATS
  • BUY MATS FROM SUPPLIERS IN CHINA ON SITES SUCH AS ALIEXPRESS.COM $2 PER MAT
  • MARKET ON AMAZON.COM, SHIP DIRECTLY FROM SUPPLIER WHEN PURCHASE IS MADE
  • SELL 10 MATS PER DAY AT +$15 PER MAT

  • PROFIT : $47,320 PER YEAR

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SAM WALTON’S GOLDEN RULES FOR SUCCESS

 SAM WALTON’S GOLDEN RULES FOR SUCCESS

1. BELIEVE

2. SHARE YOUR PROFIT
 3. MOTIVATE YOUR PARTNER

 4. COMMUNICATION
 5. APPRECIATION
 6. LISTEN

7. CONTROL YOUR EXPENSES
 8. CELEBRATION
  9. EXCEED EXPECTATIONS
 
 10. SWIM UPSTREAM

4 REASONS WHY BUSINESSES FAIL

4 REASONS WHY BUSINESSES FAIL

42%   OF SMALL BUSINESSES FAIL
          BECAUSE THEIR’S NO MARKET FOR THEIR          PRODUCT OR SERVICE
14%   OF SMALL BUSINESSES FAIL
          BECAUSE THEY IGNORE THEIR CUSTOMERS
23%   OF SMALL BUSINESSES FAIL
         BECAUSE THEY DON’T HAVE THE TEAM
29%    OF SMALL BUSINESSES
         RAN OUT  OF CASH IN THEIR FIRST YEAR OF
         RUNNING BUSINESS