Tips to gain upper hand in the market

Tips to gain upper hand in the market

The entire packaging of a product right from the basics to the designing and promoting is highly vital to the company’s sales growth. A few tips right from first-hand user experience will surely enhance your startup’s market position.

Tips to gain upper hand in the marketEnsure that the way in which you are describing and labeling your merchandise is catchy and simple for everyone to comprehend. Users spend very little time in going through a website to find what the app is all about. It is frustrating if the homepage does not give enough idea about the product. Therefore, the designing and write-up needs to be short and concise.

What is the ultimate purpose of your product? To help its users do their specific tasks easily and fluently. An ideal product is easily accessible and must have a pre-defined action to do to every command of the user. The product should be hassle-free and easy to use.

[alert style=”grey”]Important Tip: The base of every relationship is built on trust. Therefore, you cannot let the customer-product relationship to stumble. Build a trustworthy brand, so that when clients invest in your products they would never have to lose their faith. Honesty and loyalty are respected everywhere. The product needs to ooze out faith and belief, only then can you expect anything in return.[/alert]

Tips to gain upper hand in the marketBefore working on the design, complexity and higher-level organization check if the basics of your product fall in the right place. Suppose you have a mind-blowing app that records the temperature of various cities and displays them to you. The designing and outlook of the app is great but the app is too slow and does not respond appropriately to the user’s input. You obviously do not want your users to find your product unreliable.

Tips to gain upper hand in the marketThere is absolutely no point in giving away virtual rewards and points to the clients. These things initially hold attention but as time passes the craze and shine will rub away. Therefore, hold your client’s attention by giving real-time benefits and offers that will help him in some way or the other.

People will not be interested in your app if you have nothing interesting to offer. No one likes spending part of their valuable time with something that will not benefit them anyhow. Make sure that you are offering some sort of useful work to your users, only then will they treat you to be a part of their life.

[alert style=”grey”]Important Tip: Do only one thing at a time. Jack of all trades and master of none is not the ideal situation for an entrepreneur. Be perfect in the one thing that you are doing. Maintain constant connection between the product and the users so that you can quickly and effectively solve all queries and issue your users face.[/alert]

Give pleasant yet memorable surprise gifts and offers to your clients. Honestly, there is not a single person who doesn’t like surprises. These tiny little causes of happiness are the things that your user will cherish for a long time.

To get hold of something you need to constantly persevere. And the test of perseverance is showcased by how effectively you can convince prospective clients in using your product. Persistently send emails and notifications, this will surely pay off if you are trying to sell an idea that will make your clients’ lives easier.

Get acquainted with the common mistakes startups make

Get acquainted with the common mistakes startups make

Establishing a venture for the very first time is a difficult and learning process. Especially when you know nothing about the trade and you are completely unaware of the tiny little aspects of entrepreneurship. In such a situation you need to follow strict laws and regulations that will guide throughout your journey and help you sell better products or give better service. To do this successfully one needs to be aware of the common mistakes that founders make while starting their ventures. Once you are familiarized with the flaws you can ensure that you do not repeat.

The most grievous mistake that can be made is, not knowing the reason behind the creation of a startup. Find out the purpose behind your startup. Is it because you want to contribute in some way to the benefit of the society? Or may be you want to be independent financially and do something of your own. Whatever reason be it, you must make it a strong stand so that you don’t seem to be ghost working and be aimless. Always remember one mantra for startups “Failure is never an option”.

Get acquainted with the common mistakes startups makeIt is foolish to be too confident about the capital. Don’t presume that the bank will grant loans on an immediate scale. Banks tend to avoid giving loans to new entrepreneurs without any previous trade experience. If you are apprehensive about self-funding then borrow money. There are various community banks that readily grant loans to self-employed people. The only point to be kept in mind is that you need to mention your security such as house, car, shares in the market, etc. If you are unable to pay back the money, then the bank has every right to acquire the security items. The best way out of this issue is to consult an expert financial consultant and do all the economy planning accordingly.

[alert style=”white”]It is extremely wrong to believe that your probable clients will find you of their own and will wish to try your products. Since you already know the customers you are targeting at, spend valuable moments with them in assessing their needs and revealing to them how your product can satisfy those needs. It is your responsibility to make your customers step out of their regular market arena and experience the usability of your services.[/alert]

Strategize your exit plan from beforehand. This is because every product has a shelf life. Once it is crossed you can’t extract any more juice out of it. Neither can you sell the startup rights of a failed venture. Investors are energized if the founders have similar insights to them. Founders must know what is the correct time to wrap it all up and start with a different idea.

There will be instances when your business will be in the dark and there will be bleak chances of success. It is up to you to find out what to do next that will work both for you as well as your startup.

Online product startups – Few things to know before you insource or outsource

Online product startups – Few things to know before you insource or outsource

Cost plays a major role in deciding whether to use personnel from within your team or to recruit freelance personnel. These are the main points to consider when selecting whether to ‘insource’ or ‘outsource’ your online product.

Skills: Is there sufficient expertise in-house, or do you need to recruit outside specialists?

Internal vs external costs: Can existing team members be used at no cost to the product development, or will internal re-charging apply? If so, how will these costs compare with employing contractors (freelancers)? Will your team be office based or virtual, and will this affect your decision?

Start-up: Assuming they have the necessary skills, it is likely that existing team members could get ‘up and running’ more easily, due to their knowledge of your startup’s procedures and culture, or would freelance team members familiarity with product development mean they adapt more quickly?

Commitment: Who would be more committed to the project: existing team members who understand the values of your startup and might want the chance to learn valuable extra skills, or freelancers, who want to enhance their professional reputation?

Learning: Will any new skills learnt or new process developed during the project be lost when the team is disbanded, if the if the team consisted chiefly of freelance contractors? Or is the plan for evaluating the project sufficiently robust to prevent this happening?

Intellectual property: Do your freelance contracts make clear that the copyright of any inventions or new business process developed during the project belongs to the organization rather than an individual?

Politics: If using an internally recruited team is the best approach, members will need to be seconded from their existing teams to work on your product. Do you know how will you negotiate this? Are there any foreseeable barriers to internal recruitment, and how would these be overcome?

[alert style=”green”] Find the right balance between in-house team members and freelancers. [/alert]