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
Beazley Taps AIG’s Tigleanu as Data Breach & Information Security U/W
by L.S. Howard on January 24, 2017 at 12:23 pm
Beazley, a specialist in data breach response insurance, has appointed Monica Tigleanu as an underwriter focused on data breach and information security coverage for US companies out of its London headquarters. Beazley has helped clients handle over 5,000 breaches since […]
1/1 Renewals Saw Some Price Stabilization, Record Capital, Demand Uptick: JLT Re
by L.S. Howard on January 24, 2017 at 11:42 am
The challenging operating environment confronting reinsurers has led to some price stabilization at the Jan. 1, 2017 renewals, as they face the reality of deteriorating results and margin compression, according to JLT Re in a newly published report. Twelve months […]
Parliament’s Approval Required to Trigger Brexit Talks: UK Supreme Court
by L.S. Howard on January 24, 2017 at 10:08 am
The UK Supreme Court ruled on Tuesday that Prime Minister Theresa May must get parliament’s approval before she begins Britain’s formal exit from the European Union. The UK’s highest judicial body dismissed the government’s argument that May could simply use […]
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