A startup is just one thing that you can do in this new era of online commerce.
Here are five ways you can make a real impact on the world: 1.
Find the right business model.
The most important decision you make as an entrepreneur is whether to pursue a traditional startup or an online-only one.
“It’s the most important factor,” says Jason Levenson, cofounder of digital advertising company Crowdrise and author of the bestselling book, The Startup Advantage.
“If you don’t want to make it into the startup space, you’re going to need to be looking at a business model.”
He adds, “The idea of building an online business is not going to be a big deal.”
The key, says Levensons cofounder and cofounder, Chris Anderson, is “finding the right balance between business model and business value.”
Identify your audience.
You need to know how many people will buy your product or service and who are your target audiences.
The online business model has become more complicated and it can be challenging to understand your target customer.
So you need to find out who you’re targeting and what kind of content they’re looking for.
Set a clear goal.
For many businesses, starting a new venture takes months or even years.
The ideal is to launch your startup within a few weeks.
“The key is to set a clear and realistic business goal,” says Anderson.
“Your goal should be in line with your revenue, your costs, your margins and your overall business performance.
“Startups need to have an immediate impact on a lot of people’s lives. “
To really get started, I would recommend starting a few days before your deadline,” he adds.
“Startups need to have an immediate impact on a lot of people’s lives.
If you launch on a Saturday, that’s not a good business plan.”
A startup can’t really hit a goal unless it’s measurable, Levenesons cofounders says.
“You can’t go from $100 million to $50 million without having some measurable, tangible results.”
For Levenssons company, he started a new company called BizBlox, which is based on an online marketplace for buying and selling products.
“I think it’s a really smart business model, which allows you to take a very large risk,” he says.
You can read more about the BizBox platform in the video below: 5.
Identifying the right people to invest in your company.
Anderson recommends you target your first investor in a company that’s focused on helping the community and the economy.
He also recommends you invest in an angel investor who can help you build a team of highly-qualified people who will help you grow the company.
Choose the right technology.
It’s important to have a technology that’s well-suited to your business.
The key to running a successful business online is to develop the right infrastructure.
“Don’t be afraid to take risks, because there’s a big payoff in building an amazing platform,” says Leysons co-founder.
“There are a lot more people out there who want to build a business online, so it’s important you have the right tech.”
Identifies your core competency.
A lot of entrepreneurs focus on the core competencies that will make them successful.
The core competences include marketing, sales, social, digital marketing and operations.
But it’s not all about those.
“Be sure to identify what your business is all about, and then focus on building the things you can bring to the table,” Levensesons says.
Build a team.
As you build your team, it’s critical to have the skills that you need for the job.
You also need to build relationships with people who can connect you with potential investors, and also with those who can hire you on a full-time basis.
“Once you’ve got the right team and a network of people, you can focus on creating a sustainable business,” Anderson says.
Use the right tools.
For Levesons startup, it was building an ecommerce platform that could sell online.
He says he’s been impressed by the company’s ability to scale and grow and was impressed with the technology that was used to make the platform so powerful.
Identical in every way to your competitors.
“In general, you want to differentiate yourself by offering a service that you’re a better company than your competition,” Leveson says.
The important thing is to be unique.
“Think about how you’re different from them in every aspect,” he continues.
“What they have that’s different from yours.
And what they don’t have.”
Levensson says it’s very important to find a business where you can really take advantage of your unique offering.
He advises startups to start by finding people who share your vision and values, but don’t need much experience or experience alone. And to be