Have a Business Idea? 6 Ways to Research Your Industry. In their book, Start Your Own Business, the staff of Entrepreneur Media, Inc. guides you through the critical steps to starting a business, then supports you in surviving the first three years as a business owner. In this edited excerpt, the authors explain what secondary market research is and the different sources you can use to gather it. When conducting market research for your new business, you'll gather two types of data: primary and secondary. Primary research is information that comes directly from the source—that is, potential customers. Secondary research involves gathering statistics, reports, studies, and other data from organizations such as government agencies, trade associations, and your local chamber of commerce.
18 Cool Inventions From the Past The time between the wars – the Great War and WW2 was one of great loss and uncertainty, but also one of invention, creativity and new ideas. The horrors of WWI shattered enlightenment belief that progress would continue and reason would prevail. New ideas and patterns of life developed in the 1920′s and in the way that people looked at the world . The fast pace of technology change in the 20′s brought us the lie detector, traffic signal, bubble gum and Penicillin.
The Lean Startup “Startup success can be engineered by following the process, which means it can be learned, which means it can be taught.”- Eric Ries The Lean Startup provides a scientific approach to creating and managing startups and get a desired product to customers' hands faster. The Lean Startup method teaches you how to drive a startup-how to steer, when to turn, and when to persevere-and grow a business with maximum acceleration. It is a principled approach to new product development. Too many startups begin with an idea for a product that they think people want. They then spend months, sometimes years, perfecting that product without ever showing the product, even in a very rudimentary form, to the prospective customer.
Identifies Attributes of the Global, Socially-Conscious Consumer Half of Consumers under Age 40 Willing to Pay Extra for Products and Services from Socially-Responsible Companies CONTACT: Jennifer Frighetto, email@example.com, 847.605.5686 NEW YORK –March 27, 2012 – Sixty three percent of global, socially-conscious consumers are under age 40, they consult social media when making purchase decisions and are most concerned about environmental, educational and hunger causes, according to a new study from Nielsen, a leading global provider of information and insights into what consumers watch and buy. Nielsen’s Global Corporate Citizenship Survey of more than 28,000 Internet respondents in 56 countries shows that 46 percent of global consumers are willing to pay extra for products and services from companies that have implemented programs to give back to society. Nielsen defines these consumers as socially-conscious consumers.
The 3 Essential Things Needed in a Founders' Agreement Q: How do you suggest structuring a founders' agreement? -- Shine Reuben A: When getting a new enterprise off the ground, there is nothing more important than having a clear agreement amongst the founders around a handful of key issues that are critical to your ability to safeguard the future viability of your new enterprise and to raise venture money. These key issues cover three really important areas: the roles and responsibilities of the founding team, equity ownership and vesting and IP ownership. Confused? Here is a more detailed breakdown. Competitive Analysis - Small Business Encyclopedia Definition: Identifying your competitors and evaluating their strategies to determine their strengths and weaknesses relative to those of your own product or service . A competitive analysis is a critical part of your company marketing plan. With this evaluation, you can establish what makes your product or service unique--and therefore what attributes you play up in order to attract your target market.
The 10 Key Legal Documents for Your Business Documents play an essential role in protecting the interests of the business and business owners over the course of a company’s lifetime. Here is a list of the 10 most common legal documents to help you determine what your business needs. 1. 14 Ways to Do Competitive Marketing Analysis The small business landscape is arguably tougher than ever before. A recent Constant Contact survey found that 59% of SMB CEOs feel it’s harder to run a business than it was 5 years ago, a factor which can primarily be attributed to quickly-changing technology and marketing best practices. The difficulty of success means that competitive marketing analysis is more crucial than ever. As Expert Stacy Poehler points out, “nothing happens in a vacuum.” Without well-defined points of comparison, and continual analysis, you’ll never know whether your marketing strategy is really working, or allowing you to capture a greater share of your market.
Collective Impact Large-scale social change requires broad cross-sector coordination, yet the social sector remains focused on the isolated intervention of individual organizations. S ee also: " Roundtable on Collective Impact " " Channeling Change: Making Collective Impact Work " " Understanding the Value of Backbone Organizations in Collective Impact " " Embracing Emergence: How Collective Impact Addresses Complexity "
Types of business entity A business entity is an entity that is formed and administered as per commercial law in order to engage in business activities, charitable work, or other activities allowable. Most often, business entities are formed to sell a product or a service. There are many types of business entities defined in the legal systems of various countries. These include corporations, cooperatives, partnerships, sole traders, limited liability company and other specifically permitted and labelled types of entities. The specific rules vary by country and by state or province.
How To Write A Business Plan Whether you’re starting or growing your business, you need a business plan. Your plan will provide the roadmap to achieve the success you want. The question shouldn’t be IF you write your plan, but how to write a business plan that will take your company where you want to go. Your business plan is essentially your answers to a comprehensive list of questions. 5 Things You Must Do to Successfully Launch a Business The effort required to launch a new venture can seem daunting. Of course, specifics vary based on the type of business you're establishing; manufacturers face unique challenges, as do retailers and consulting firms. But once you have your concept and your finances in line, there are some basics that are universal. We talked with business owners, consultants and professors to boil down the bare necessities of getting a startup off the ground into a handful of manageable steps. Apply these fundamentals to your own industry, and you'll be ready to tackle the specifics of creating your successful business.
Startup Capital: 6 Ways To Fund Your Businesses When it comes to spearheading a successful business, the amount of money and sweat equity you put in is equally as important as the amount of time for the services you provide in return. People often go to extreme measures to keep their business afloat, some options being more realistic than others. Anyone can start a company, put up a website, and create a Facebook page, but what determines where that company will stand six, 12, or 18 months down the road, is not only sales, but the funding and capital behind the business. You need to be able to keep the lights on, compensate your employees, keep food on your table, and ensure operations don’t come to an unexpected halt.