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
With Central, South Texas Awash in Water Governor Issues Disaster Declaration
on October 19, 2018 at 4:52 pm
Texas Gov. Greg Abbott has issued a State Disaster Declaration for 18 Texas counties impacted by recent severe weather and flooding that has caused widespread property damage and threatened loss of life. The governor’s declaration comes as rain continues to […]
Florida Residents Hit by Michael Return to Face Damage as Death Toll Climbs
by Jay Reeves on October 19, 2018 at 4:49 pm
More than a week after Hurricane Michael slammed into the Florida Panhandle, authorities are reporting three more deaths from the Category 4 storm as residents returning to their homes try to piece together their lives from the rubble left by […]
DOI: Workers’ Comp Rates in Indiana to Drop Again Next Year
on October 19, 2018 at 4:44 pm
Businesses in Indiana can expect to pay less for workers’ compensation insurance coverage next year, continuing a trend that has been ongoing for several years. Insurance Commissioner Stephen W. Robertson has approved an average 7.6 percent reduction for workers’ comp […]
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