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.
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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.
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Supreme Court Rules Against SEC Naming of In-House Judges
by Andrew Chung on June 21, 2018 at 6:54 pm
The U.S. Supreme Court said on Thursday the way the Securities and Exchange Commission selected in-house judges who enforce investor protection laws was unconstitutional in a ruling allowing more presidential control over pivotal jobs in federal agencies. In a 7-2 […]
AmTrust Shareholders Approve Revised $2.95 Billion Plan to Go Private
by Andrew G. Simpson on June 21, 2018 at 4:57 pm
Insurer AmTrust Financial Services said that AmTrust stockholders have approved a deal for it to become a private entity, a deal that values it at $2.95 billion and was negotiated after activist investor Carl Icahn opposed a previous proposal. The […]
Louisiana in May Saw a 44.4K Annual Increase in Number of Employed
on June 21, 2018 at 4:42 pm
Louisiana Workforce Commission said as of May the state has experienced a year-over-year increase of 44,453 in the number of individuals employed in Louisiana. Louisiana’s civilian labor force is now 2,138,975, which is the highest number of individuals in Louisiana’s […]
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