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
- Study: Los Angeles Has Highest Workers’ Comp Claim Costs in CaliforniaPosted on October 25, 2016 at 10:09 pm
The Los Angeles area continues to be a draw on California’s overall workers’ compensation costs, according to a study out today from the Workers’ Compensation Insurance Rating Bureau. The WCIRB’s study on regional differences in California workers’ comp claim costs and […]
- Liberty Mutual Issues Statement Following Shooting at Oregon OfficePosted on October 25, 2016 at 6:20 pm
Liberty Mutual issued a statement today addressing a Portland, Ore. shooting over the weekend reportedly involving co-workers at the insurance company who knew each other. Portland police are investigating whether a homicide at an office building is connected to a […]
- Alabama Facing Severe Drought StatewidePosted by Amy O' Connor on October 25, 2016 at 4:46 pm
A severe drought spreading rapidly across Alabama is forcing conservation measures and worrying farmers, and forecasters said Thursday there wasn’t much relief in sight. The latest federal assessment said an extreme drought covers the northern two-thirds of Alabama, and the […]
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