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
Employers Reminded that Feb. 1 Is Injury Report Posting Deadline
on January 18, 2019 at 3:06 pm
The Occupational Safety and Health Administration is reminding employers they face a Feb. 1 deadline. That is the deadline for employers to post a copy of OSHA’s form 300A, which summarizes job-related injuries and illnesses logged during 2018. Each year, […]
P/C Insurers Pulled Off Underwriting Turnaround in First 9 Months
on January 18, 2019 at 2:39 pm
Private U.S. property/casualty insurers reported a $4.7 billion net underwriting gain in nine-months 2018, a sharp turnaround from a $21.0 billion net underwriting loss a year earlier. The results were helped by a rare decline in overall losses and loss […]
The Bright Side in a Graying U.S. Workforce: Viewpoint
by Mark Miller on January 18, 2019 at 2:27 pm
Economists call it the “old-age dependency ratio” – a rough measure of the balance between people who work and retirees. The ratio compares the number of people over age 65 – classified as “old” – with those aged 15 to […]
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