venture-backed startups flop. These numbers suggest that while it is relatively easy to launch and pitch a new company, it is extremely difficult to ensure its profitability over time.
If you are looking to establish a small business, you cannot simply count on the quality of your product or service to sell itself. This is especially true if you enter an already saturated market. In order to run a successful enterprise, you also need to leverage marketing. If you do not know where to begin, here are two exemplars to take direction from.
Do you need insurance for your wedding day – imagine that your best wedding band in Ireland cancels at the last minute
When Lyft, an on-demand, peer-to-peer ridesharing company, launched in 2012 in San Francisco, it faced stiff opposition from Uber, which delivered a similar service. At the time, Uber held serious advantages over Lyft. The firm had been around since 2009, so it already had a few years experience under its belt. Uber was also looking to expand internationally, reflecting the company’s strategy to tap into new markets.
Uber was displeased to see competition when Lyft entered the ridesharing marketplace, and the two enterprises have been fighting over customers ever since.
For a small business owner, constant news stories about startup successes and wealthy entrepreneurs are certainly inspirational — but these shining examples of entrepreneurial achievement represent only a small fraction of all new business ventures.
are certainly inspirational — but these shining examples of entrepreneurial achievement represent only a small fraction of all new business ventures. In fact, the majority of new companies fail. According to research from Harvard Business School,
So Uber is finding the marketplace a little bit tougher these days – well competition is great for business – it helps businesses keep on their toes and offers consumers another option whilst bring up a higher quality of service.
We really love the fact that these two companies have a really loyal customer base but they are now both coming into there own with new marketing ideas that each one is playing off.
Insurance Journal Insurance Journal delivers the latest business news for the Property/Casualty insurance industry
EPIC Acquires The Capacity Group in New Jersey
by Don Jergler on March 24, 2017 at 8:25 pm
EPIC Insurance Brokers & Consultants has acquired the Capacity Group of Companies in Mahwah, N.J. Terms of the deal were not disclosed. As part of EPIC, the firm will now operate as The Capacity Group – an EPIC Company, and […]
Robots Could Steal 32% of Jobs in UK Financial Services by 2030: PwC
by L.S. Howard on March 24, 2017 at 4:48 pm
Approximately 32 percent of existing UK jobs in financial services and insurance could be automated by robotics and artificial intelligence (AI) over the next 15 years, according to a new study by PricewaterhouseCoopers. And other industries are even more at […]
Florida Homes Threatened by Fast-Moving Brush Fire
by Amy O'Connor on March 24, 2017 at 4:43 pm
Florida Forest Service officials say a 400-acre brush fire has forced the evacuation of a neighborhood and threatened or burned up to 15 homes. Nassau County Emergency Management Director Billy Estop ordered residents of the neighborhood near the Georgia line […]
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