How can I start a small Internet service provider ISP business? — Tonderai
This is similar to the hoary chestnut, “How can I take over the world?” The answer is the same. Sit at the knee of a master for two years (at least) and learn the game. When you have a sufficient network of contacts, and understanding of the business, head off on your own. How do you find a ‘master’? Identify an ISP that appeals to you. Get your foot in the door somehow, even if it’s just making coffee. Work your way to as close to the CEO’s door as possible by continuously over-delivering. Learn like a sponge.
The possible alternative to ‘find knee of master’ is to find a technical guy with zero sales inclination. Make him your partner. You become the front office (sales — find customers). He becomes your back office (tech — product delivery). If you can’t find a master or a tech partner, you can’t start an ISP.
How do I find a co-founder? How do I find a development team? — Kirsten
For a technical co-founder, Tinder is best. Jokes. In fact, Tinder is the last place on earth to find a technical co-founder. Rather try family and friends. Conferences. University. Milk your networks by letting everyone know that you’re looking for a technical co-founder. Failing that, you must hire a development team.
The days of compensating software developers with equity in lieu of cash are long gone. Absent a technical co-founder, there is only one way to develop software: Pay for it. How do you find the right dev-house?
Word of mouth is best. The rules of thumb are:
- Maximum project duration = three months.
- Scope it once. Don’t change the scope.
- Keep it simple.
For your first iteration, it usually makes sense to go with a young and relatively inexperienced crew (try www.avochoc.com). Yes, the product will not be future-proof, but your first version need not be future-proof. You just need something to start signing up customers and getting market feedback.
If you get traction, then you can start worrying about scalability and consider engaging with more experienced (and expensive) dev-houses.
I have invented a hamburger roll that ensures the patty and toppings cannot escape. Would you suggest I patent it? — Albert
Interesting idea. From the photos, it seems your solution is a variation of a pita bread. It may be worthwhile reading Zero to One by Peter Thiel.
He argues that consumers will always resist change, even change that is very obviously good for them, ie: non-leaking hamburger rolls. The only way to introduce innovation into an established market is if it represents a minimum of 10x improvement over the status quo. Only such a quantum improvement will induce people to change behaviour.
Although undoubtedly a big improvement, I’m not sure the non-leaking hamburger roll qualifies as 10x innovation. And so it probably will not succeed in the market place.
Before patenting, I suggest you try sell some rolls to establish whether you can get traction and prove revenue potential.
I’d like to launch an app with an advertising revenue model. What do you think? — Mvelo
I’m sorry to be the bearer of bad news, but advertising is an insufficient revenue model in South Africa. You need to figure out another way to make money. Most times, the paths to non-advertising revenue streams only reveal themselves once you have users.
You should work on the assumption that it will take you at least two years to get sufficient traction, therefore you need to have two years’ worth of runway before plunging into your entrepreneurial adventure. In those two years, you should be growing your users as much as possible.
The size of your user base will determine your negotiating power with potential investors and/or customers, and will determine the odds of success in finding a non-advertising revenue stream.
Okay, forget advertising. I’m going to charge my users a monthly subscription of R20. — Mvelo
I realise that it’s a chicken and egg situation, but it’s very hard to find backing until you have proof of your theory working in the real world. On other hand, it’s hard to get proof without first finding backing. That’s the entrepreneurial quandary.
Generally speaking, the egg comes before the chicken. The egg is users. The chicken is revenue. Before you can test your revenue theories, you need users. Refer to previous answer.
Read ‘Be A Hero’ today
The Importance Of Being Organised For Your Start-up
If you are not convinced that it is an important aspect of owning a start-up, read on for reasons why being organised is important for your start-up.
So, you have decided to create a start-up. This is great news, especially if you have solid plans in place and have attainable business goals. However, if you are somewhat of a tidsoptimist or are disorganised, then your start-up could be something of a nightmare to begin with.
Being organised does not have to be difficult or take up too much time. But if you are not convinced that it is an important aspect of owning a start-up, read on for reasons why being organised is important for your start-up.
Schedules are crucial
Established business people understand how a schedule can significantly contribute to business success. You do not have to be at an executive level in order to follow an executive schedule, and setting one up for your start-up can work wonders for how your business grows.
You should take time on the weekends to plan out your week, writing down all obligations, meetings and tasks that you have to finish. Seeing your week written down in front of you will help you to stay on task and will make it easier for you to complete them on time.
Having a schedule is important, as you are the leader of your start-up and you need to stay organised and set an example for any staff you have.
It saves you time
Being organised saves you from rushing around, searching through paperwork to find that one invoice or bank statement. You can use business processing solutions to help you to capture and collect forms, as well as outsourced document collection to save you from having to chase clients for forms and documents.
You should invest in having a well-structured filing system, both in the office and digitally. Use neatly organised folders with clear and relevant names on them for all of your documents, bills and emails. By doing this, you can free up hours of the day to work on important tasks, such as drumming up more business through a new and exciting marketing strategy. You will also be setting an example for your team by having an organised office and computer.
Procrastination can be toxic
When tasks get put off due to disorganisation or procrastination, everyone fails. Not only will you feel bad for not completing a task on time but your clients and possible business partners will see you as unreliable, which is hugely damaging to any start-up. Many instances of procrastination can be linked to not being an organised business.
This is one of the major reasons why organisation in a start-up is essential. You will spend less time procrastinating and more time achieving goals and completing client tasks. Spend time every day organising your digital folders and your physical folders before you start working. This will ensure that there are no distractions throughout the day and you can complete all the important tasks on time and within budget.
Organisation keeps your employees on track
You cannot expect your employees to stick to their schedules and stay organised if the person at the top doesn’t do the same. As the leader of your start-up, you need to set an example for your staff, which means that you have to be the most organised person in the company. While it is important to ensure your employees follow suit, try not to be too overbearing about how they choose to organise their days.
By keeping your company organised, you will be better able to keep your employees on track, making it easier for them to finish tasks on time. This is because they will not be spending time searching for important documents that have been filed in the wrong folder (or not even filed at all) but rather focusing on completing tasks and building your profit as a company.
You can improve customer service
By using organisation techniques, such as document processing solutions and an outsourced document collection service, you will be able to improve customer service. Problems with organisation can lead to a drop in customer service, which is highly detrimental to any start-up. Customer satisfaction is key to any return business, which is why you need to be organised.
If you have a poor billing system or are constantly losing invoices and important documents, soon your clients will move on to greener pastures (and more organised businesses). If you implement a strategy to become more organised, you will find your customer service improving. This will lead not only to return clients but to new business, as word-of-mouth travels about your professionalism and efficiency.
Keep ahead of the curve
As a start-up, you likely have a lot of competition in your industry. This means that you need to stay organised in order to keep ahead of the curve. By being more organised, you will be able to meet client briefs on time and keep to your schedule. Organisation is important for your start-up because it saves you time, stops you from procrastinating and keeps your employees on track. With improved customer service due to your efficiency, you will soon find your business growing in leaps and bounds.
Want To Jump-Start Your Ecommerce Business? Try A Pop-up Shop
The first thing you need to know: A pop-up isn’t about stocking shelves and hoping people browse. It’s about attaining a ‘wow!’ status.
Facebook talked a good game about its 3-D virtual-reality headset, Oculus Go, during the platform’s annual development conference, F8. Still, the social media behemoth knew that words alone couldn’t make anyone but early adopters fork over the dough.
Consequently, Mark Zuckerberg’s team made a bold, radical departure by opening an Oculus pop-up shop to showcase the company’s newest technology.
Interestingly, the Oculus pop-up was arranged, Foot Locker store-style, to give browsers the opportunity to try the device rather than instantly buy it. Sure, eMarketer predicts ecommerce will exceed the $4 trillion mark by 2020; but, as a Retail Dive survey showed, nearly two-thirds of consumers remain leery of this consumer channel. They want to physically experience merch before handing over their hard-earned cash.
Hence, Facebook gambled, not on its core platform but on the expectation that die-hard, wannabe Facebook and VR fanatics would share their experiences on social platforms, bringing awareness, hype and, eventually, sales, to an emerging product.
Not surprisingly, that was, and is, one smart bet.
We’ve come a long way, baby, but smell-o-vision still isn’t available
What makes a temporary pop-up store such a powerful differentiator? In a nutshell, it’s tactile products. Forget that people are buying stuff online; they still appreciate a solid in-person demo. Plus, a well-managed pop-up is an intriguing prospect: No basic retailer can match the energy, intensity or uniqueness of a fleeting pop-up that’s literally here today, gone tomorrow.
Besides, pop-ups make odd or brow-furrowing products easier to understand. For example: A beeswax alternative to Saran Wrap? It’s tough to envision that product’s inherent value unless you see it in action and get answers to your questions, face to face from an expert.
Ultimately, pop-up stores raise brand awareness and generate loyalty. At the same time, they aren’t the place to make sales – they’re marketing events engaging brand loyalists who love the company’s message and want to interact. Sure, new influencers are bound to stumble upon pop-ups, too, but the truest emotional connections come from people already knowledgeable about the product line.
For example, a Harry’s pop-up shop’s purpose wouldn’t be to introduce guys to its razors. How many would care? Even more important, why would they switch? The pop-up, instead, would be to magnify Harry’s branding by creating an experience for people curious about why they should use its products.
An ideal Harry’s pop-up would offer haircuts, shaves, hipster drinks and other memorable experiences. After getting the best shaves of their lives, super-fans would head online and do some organic referral work to spread the brand’s message.
In response, people who trust those influencers would head out to the pop-up sooner rather than later, worried they’d miss the fleeting chance to see the fuss. Their actions would be all-too-human, according to Shopify: Individuals routinely flock to scarce, novel opportunities. The reason: FOMO is a powerful force.
Eager to get started on your own pop-up adventure? One that gets tongues wagging and fingers swiping? Before you pitch a pop-up tent on the corner green next week, pull in the reins. Pop-up shops require some serious forethought and planning.
1. Choose a location that caters to your audience
When our company put up The Nest pop-up to showcase many of our clients’ brands, we picked a place where our target personas hung out: Abbot Kinney Boulevard, in Venice, Calif. It’s known nationally as one of the country’s most expensive retail streets, putting us in front of the sophisticated, high-end community our brands serve.
After picking the locale, we used the pop-up to highlight a series of rotating brands. At the same time, we kept the atmosphere fun by serving healthy vegan popsicles, playing great music and consistently engaging with visitors. The idea was to create a complete experience from beginning to end, catering solely to the people we wanted to impress.
Your pop-up should be similarly based on your ideal visitors’ profile, whether that might mean a twentysomething socialite or a hip baby boomer. When you know your audience, you can arrange a locale that fits. From that point, you should create landing pages and send emails to your hottest buyers. Take advantage of organic shares and ad-targeting, along with Facebook event-creation and retargeting. Your goal? Pack your launch party (and every day thereafter) with eager faces.
2. Ditch anything that doesn’t elicit a “wow!”
Say it with me: “experiential.” That’s the pop-up mantra. Your only job is to provide a huge, memorable experience. Forget about stocking shelves and hoping people browse – this isn’t How to Run a Lame Mall Kiosk 101.
For instance, when Target set up CityTarget, its Chicago Millennium Park pop-up, the store wasn’t like a typical suburban big box store: Instead, it offered commuters special CityTarget coffee and a few tchotchkes. One morning, CityTarget even set up a spin class. Another day, kids created CityTarget-logo-ed kites from scratch. Its final event? A launch for the full-store version of CityTarget for VIGs, or “very important guests.”
To attain “wow” status, map out every second of the pop-up flow (from the amplified, hyped launch party to the fireworks-inducing last moment). Keep the momentum going with live day events: Workshops, speakers and guest appearances keep the days hopping. Oh, and don’t forget to have a dedicated iPad to capture visitors’ emails and send instant welcome drips.
3. Follow up after the pop-up becomes a memory
Pop-ups are temporary, but impressions are lasting if you re-engage your guests. The Nest lasted three months, and it wasn’t a profitable up-front endeavour. However, we set out to monetise it later by treating it as a marketing exercise to broaden our clients’ brand scopes and widths. By following up, we ultimately made money down the line.
Of course, some pop-ups buck this trend. Toms Shoes is a great example: It started as a fleeting project and ended up becoming a permanent hangout spot in Abbot Kinney. People hang out, work, drink coffee and occasionally buy Toms merch. Still, don’t rely on an immediate profit. The Marc Jacobs pop-up dedicated to its Daisy fragrance sure didn’t. To the contrary, it allowed people to use “social currency” in the form of #MJDaisyChain on Instagram and Twitter.
The way to make money is by taking the valuable connections you make and turning them into evangelists. Reach out via email and thank those who shared social photos. Then, send out coupons to anyone who missed your pop-up.
You don’t have to be Facebook or Target to get significant foot traffic and loyalist love from a pop-up store. All you need is the right location, a solid planning team and a strong after-event marketing plan. Now get out there and make some brag-worthy experiences for your target audience.
Read next: 3 Types Of Ecommerce Business Models
This article was originally posted here on Entrepreneur.com.
5 Actionable Tips For Novice Entrepreneurs To Skyrocket Their Business
Just follow these tips and your business will certainly go a long way.
Trying to curate a listicle of suggestions that can be given to any newcomer in the entrepreneurial world is really a task. Even if there are already more than five or ten pointers in the list, they don’t seem to be enough. Myriad of changes can occur in a businessman’s journey from a startup to an entrepreneur. Still, here are some effective tips for you to get a strong foundation on which you can build a flourishing organization.
Just mix and match these ideas with your own thoughts. Finally, you will be able to overcome the obstacles that will come in your path of becoming a successful businessman.
1. Build a culture of learning around you
The businessmen who’ve already established themselves, understand that there will be loopholes in their knowledge and expertise. They never cultivate the feeling of self-content. Rather, they make sure to alleviate with a perfect commitment towards learning.
So, if you want to earn the same reputation and degree of stability in business, you must follow in their footsteps. One of the best approaches to do that could be investing in professional development training for the entire company. Try to make the most out of the resources around you like industry publications, professional network and so on.
2. Co-operate with reliable partners
New business owners should never hesitate to choose who they want to work with or hire. If you are one amongst them, aim for a variation in your stakeholders and clients across different levels.
Wait! You are not supposed to look for a racial and gender diversity. Rather, it is all about a miscellany of experiences and backgrounds. You must work with reliable people.
3. Be constantly focused
You might be eager to grab every opportunity that you come across. Well, that’s not something you should be doing as a new entry in the business world. Be careful and always make sure that you are not losing track. If you end up juggling hundreds of ventures during the initial period, it will spread you thin. Finally, you will lose your efficacy and productiveness. Make a rule to deal with one thing perfectly rather than trying to manage twenty things poorly.
Wait! It doesn’t mean that you shouldn’t take up new projects. Of course, you must. All you need to take care of is the number of new works in your hand shouldn’t exceed your capability to accomplish them perfectly.
Related: 21 Steps To Start-Up Success
4. Work with a budget-friendly approach
Remember, you’ve started with a new thought amid millions of other ideas which are going strong for years. It is important for you to act strategically and smartly, especially when it comes to financing. You must create a business proposal which includes all the startup costs and expenses. However, make sure that you are not taking the first step with redundant expenses.
You must be clear with the idea of when it is the right time to throw the towel. Too much cash outflow can even cause bankruptcy. Before you open the doors to a new business, generating financial goals is a great idea. If you follow this tip, you will certainly be benefited.
5. Welcome failure with open hands
Of course, you’ve not gone into the business while expecting to fail, yet failure is a fact of life and every single one of us must bear it. There is no way to combat this reality.
In such a scenario, you must do what the biggest business tycoons have already done for years. Take every failure as a desired learning opportunity. It is pivotal to understand that setbacks bring a positive energy to fight back with a new enthusiasm. If everything goes on perfectly, you will not get a chance to learn something new and have new experiences. So, failure is important, make sure you to embrace it.
Lessons Learnt1 week ago
Lessons From The Rich And Famous: Manage Your Money Like Oprah To Avoid Going Into Debt Like Nicholas Cage
Snapshots2 weeks ago
Vuyo Tofile Of EntBanc Group Talks About Finding Solutions And Partnering To Offer The Most Value
Snapshots2 weeks ago
Mike Sharman Talks About Retroviral’s Successful Campaigns And The Importance Of Social Media In Marketing
Snapshots2 weeks ago
Benji Coetzee Never Worked In Logistics, Find Out How She Launched Empty Trips A Successful Logistics Marketplace
Snapshots2 weeks ago
Eben Uys Shares His Concept Behind Mad Giant Brewery And How You Can Make Your Business Stand Out In A Crowd
Snapshots2 weeks ago
Matt Brown Had 8 Businesses, 6 Failed and 2 He Sold, Find Out What Gave The Matt Brown Show Staying Power
Snapshots2 weeks ago
How Fritz Pienaar Used His Love Of Mountain Biking To Inspire His Entrepreneurial Journey And Launch The Warrior Race
Personal Finance2 weeks ago
14 Ways To Make Quick Cash On The Side