As a general concept, research is the process of gathering information to learn about something that is not fully known. Nearly everyone engages in some form of research.
From the highly trained geologist investigating newly discovered earthquake faults, to the author of best selling spy novels gaining insight into new surveillance techniques, to the model train hobbyist spending hours hunting down the manufacturer of an old electric engine, each is driven by the quest for information.
These days it is rare to find a business niche that is not already over saturated, however you don’t need to come up with a new concept to be different. Little tweaks here and there can make you stand out from the crowd and give you a great chance to be successful from the first day.
Shout about your USP (unique selling point) from day one
This may sound obvious but all too often I see and hear about new businesses starting up and unless I really delve into their website I don’t actually know what makes them different, what sets them apart from the competition. Use all your PR channels to shout from the roof tops about your USP(s).
We’ve all witnessed it – the seemingly overnight success of some startups that begs the question “what am I doing wrong here?” Is it the idea? The timing? The commitment? Why do some companies transform into breakout brands, while others struggle along?
In my 25 plus years of working with entrepreneurs and startups, I’ve noticed three similarities between the companies that skyrocket vs. the ones that sputter out. Here are three ingredients that will fortify your brand for immediate growth.
A recent survey indicated that the average American accrues 18 vacation days and uses only 16. The average French worker takes more than twice the vacation time. To some, this statistic encapsulates the difference between American and European workers. Americans are productive. Europeans are lazy. In fact, it might say the opposite.
Europeans understand that breaks improve workplace efficiency. We mistakenly believe that more hours will always increase output, while ignoring the clear evidence: The secret to being an effective worker is not working too hard.
Many global companies, like Coca-Cola, Nike, Google, Intel and Microsoft, choose to use the same brand name in multiple countries.
This is not possible for every brand, but it can often be an advantage. Think of the degree to which a single brand name simplifies marketing and increases return on advertising investment. By comparison, how much more would one of these companies need to spend to achieve the same results with a different localised brand name in every market?
Operational margins are narrowing; leaving business owners constantly looking for ways to reduce business running costs and increase profits.
Here are simple things you should do to reduce your business expenses and increase revenue without affecting productivity or quality.
Review Standard Operating Procedures
If a business has been in operation for several years, it is possible that some standard operating procedures have become obsolete or less efficient. It is important to re-evaluate operational processes from the bottom to the top, and make changes like trimming unnecessary steps that were needed before but are not anymore, or making new changes to labour functions.
More small business owners today are feeling optimistic about the economy. Nevertheless, the majority say the number of risks they are taking has remained the same over the past six months.
If you’ve been playing it safe with your business, the time may be ripe to take a chance again on risk. Calculated risks taken within your tolerance level can help you make decisions wisely while keeping your business energised and moving forward.
Whether you call it event marketing, experiential marketing, live marketing, participatory advertising, or any other moniker, this is a brave new world of blowing things up, building in a technological overlay to real-world places, and convincing otherwise sane passers-by to dance or change clothes in the street—all with the motive of engaging consumers.
We talked with some of the smartest minds in experiential marketing to find out how they pull off memorable events—and make sure there’s significant consumer engagement long after the event is over.
Here’s what they told us:
Create an event within an event
Try to create an event within an event where you can touch a consumer one-on-one, where you can engage directly, and teach them about your product, and do so by interacting in a quality way. Have a truth-or-dare themed campaign, ask people to dance in the middle of the street, etc.
Jason just announced that he got a great deal on tickets for his vacation. And Emily dropped a vacation request on your desk this morning. And now, Melanie is talking about her planned summer cruise. You’re happy your employees are looking forward to summer vacations – until you look at the dates and realise that they’re all for the same week in August. Now what?
Conflicts will happen, it’s inevitable. At some point two or more employees are going to request the same vacation days. And only one will be able to go.
Know the competition. Find out who your competitors are, what they are offering and what their unique selling point (USP) is. This will identify the areas you need to compete in, as well as giving you a platform for differentiating yourself.
Know your customers. Customer expectations can change dramatically when economic conditions are unstable. Find out what matters to your customers now – is it lower price, more flexible service, the latest products? Revise your sales and marketing strategy accordingly.
We all know that success in life depends on a combination of hard work and talent. There’s also no denying the « luck » factor – being in the right place at the right time and meeting the right people. That said, there isn’t a « secret » to that kind of luck. It’s about doing things that put you in a position for that luck to happen.
We found ten things that successful people do at the start of their work weeks. Try them out, and you might find yourself having better luck as well.
James Reinhart, ThredUp.com – Use weekends effectively
You can’t have a great Monday morning if you had a lousy weekend. Work is obviously important if you want to be successful, but there’s always something that can wait until Monday. Weekends are a time for yourself, to unwind, to relax and to think. In fact, many people do their best thinking during leisure time, because you’re free from other work distractions and can think abstractly.
For all the time executives spend concerned about physical strength and health, when it comes down to it, mental strength can mean even more. Particularly for entrepreneurs, numerous articles talk about critical characteristics of mental strength—tenacity, “grit,” optimism, and an unfailing ability.
However, we can also define mental strength by identifying the things mentally strong individuals don’t do.