“Why didn’t I think of that?” is usually our reaction to a seemingly simple business that turns into big profit. If you have an idea in your brain and think that it could become a big business, you might be wondering how to achieve that dream.
One Business Idea
We get lots of different ideas. Going through them every day and picking one that you feel has the most potential is a waste of time. The best way to stick to one business idea is to choose one that really moves you and that you feel most passionate about. Stay with this idea until there is no other left and give it your all. This is the only way you will know if your idea is worth pursuing.
Your idea could be worth a million bucks but is still not worth anything until you validate it by using real customers. Writing a business plan that outlines your objectives and projections is a good idea too, but nothing beats real customers using your product or service.
A good way to validate your idea and test it with actual customers is by building a prototype and testing it. A minimum viable product or prototype should be able to solve your customer’s problems and tell you if you have something to sell.
An idea will forever stay as an idea unless you execute it. Companies like Facebook did not become a billion dollar company overnight. Ideas become products and then evolve through constant consumer feedback and improvement. Once you have your prototype, you have to let your customers decide if the idea is valuable or not.
Some people waste their time perfecting their products before taking them to market. This can take time, and before you know it, somebody who had the same idea is selling your product out there. Save yourself the grief and trouble, and build a product that your customers want right now.
Find A Large Market
For new businesses, they want to take their small idea and expand later on. This makes sense sometimes. However, it is better that your idea solves the needs of a large number of people rather than a few. Your idea should be scalable to the next hundred or thousands in order to build a business. Always think big or global if you can. Your idea should be able to solve the problem of the masses, not just yours or your neighbor’s. Base your idea on a large target market with the potential to grow larger.
Business ideas can be classified into two: nice-to-have products and must-haves. In order to really succeed in business, make your product the latter. Nice-to-have products are novelty ideas or are not really compelling enough to buy or own. If you want your idea to become successful and become a big business, make your ideas must-haves instead of nice-to-haves.
First Tech Startup to join Camden NJ
First Tech Startup to join Camden NJ
Penji is a new tech startup who recently launched in Camden NJ. Instead of having costly all-inclusive packages that design agencies typically offer, Penji offers unlimited graphic design, unlimited revisions, at a flat monthly rate. The startup launched on October 21st 2017, a day after Camden Catalyst, a startup pitch competition hosted by Waterfront Ventures to bring startups into the city.
Penji solves a unique problem that startups, small businesses, and agencies tend to have. According to Penji, startups and small business owners spend too much of their time attempting to design their own marketing materials, logos, business cards, etc. And even if they hire a company or a freelancer to help them, it often costs quite a bit more than they originally thought.
” It’s a huge time waster. And that’s why we created Penji, to solve that graphic design problem for startups and small businesses.” – Johnathan Grzybowski (Cofounder)
Penji’s unique mission
Penji also has a unique mission. The startup plans to be one of the first community conscious startups to plant their flag in Camden NJ. For Penji, being a community conscious startup means giving back to their community on a consistent basis and in ways that truly helps their community. The startup plans to offer jobs and opportunities specifically for students and residents in Camden. Their goal is to hire as many talents as they can from the city with the hope of keeping those talents in Camden. Camden is home to major school institutions such as Rutgers, Rowan, Camden County, and Cooper. Despite having these big names investing in the city, few job opportunities currently exist for students graduating from any of these 4 colleges.
“The only way to successfully revitalize Camden sustainably is if our students are willing to stay in the city and invest in the city themselves. And they can only do that if there are good paying jobs available in Camden. Currently there aren’t many available, and we plan to change that.”- Khai Tran
The startup already hired 4 students from Camden and have plans to hire more as they grow in Camden. Things are definitely looking up for Camden NJ as the interests for startups are growing from surrounding cities. The Camden city has been struggling with bringing in new businesses for the past few decades and many efforts have been put forth to revitalize the city. Things may be different this time around if enough startup companies join Penji in Camden and invest in the city.
Melissa Le (office manager of Waterfront Lab, Camden’s very own co-working space) is optimistic that Camden will be revitalized this time around.
“We’re feeling good about Camden’s revitalization and we know it will be successful if enough key industries get involved. Having major companies such as American Water, Holtec, and Subaru is a great start, however we need more interests from startups and small businesses to make Camden’s growth sustainable.”
Marketing Lingo you need to know for 2018
7 Marketing Lingo you need to know for 2018. If you own a small business, chances are you’re wondering how you’re going to market yourself. Looking online you’re going to find quite a few article and resources for marketing, most of them coming from marketing company themselves. Give or take an hour of research and you’re pretty much ready to quit because there’s too many options and because you’re not a part of the marketing or digital marketing world, all the lingo being used such as SEM, SEO, Digital Marketing, etc. becomes overbearing. That’s ok, we’ve created a short guide for you to follow that will help you better understand the world of Digital Marketing. These are the essential keywords and lingoes in digital marketing that you’ll need in order to navigate marketing information.
SEO (Common marketing lingo)
The first is the most common marketing lingo. Search Engine Optimization. This is a service that many digital marketing agencies provide to help get more people to come to your website via an organic search result. When someone online searches for a keyword that your business represent, your website will come up on the front page. They will then click on your link and be directed to your website. This doesn’t guarantee business, but it does increase the likelihood of you getting more leads and sales.
Search Engine Marketing. This service is similar to SEO because it rely on you getting good rankings on the 1st page of Search Engines. The difference is that SEM depends heavily on paid advertisements to get you there instead of appearing there organically. You know those ads on top and on the side? Those are probably the works of an SEM Campaign. Learn more about Search Engine Marketing here.
Paid Per Click. How SEM does it’s work is through a Google service known as Paid Per Click. This is where you pay Google to place your business on the front page in the form of an advertisement. Whenever someone clicks on the advertisement, you pay google a small fee (anywhere between 50 cents to $20 depending on keyword and competition).
Social Media Marketing. The goal for this is to deliver traffic to your website via Social Media. Depending on your business certain social media platforms may be better suited for you. A clothing/retail business may benefit more from Instagram and Pinterest than Twitter for example. Learn how to maximize your social media’s effectiveness here.
Digital Marketing is a broad spectrum of online marketing services. Typically a Digital Marketing campaign will include more than one services to accomplish a goal, whether it be branding or simply more traffic and customers. Digital Marketing can include SEO, SEM, SMM, PPC, and many other online-related marketing services. Typically it doesn’t include direct mail, bill boards, or bus wraps.
This marketing lingo stands for Cost Per Click and is most common with Google’s Pay Per Click model. However many other advertising platforms also utilize CPC to determine the effectiveness of a campaign. Cost per click simply means how much does it cost you every time someone clicks on your promoted ad. Usually you want the CPC to be low, that way you won’t have to pay more for people clicking on you ads.
This is a confusing marketing lingo because it could mean a lot of things. Conversion could mean the rate at which someone goes onto your website and then converts to become a customer. Your formula would be Sales conversion / Visitors. However Conversion can be something completely different if you’re advertising on Google, Facebook, of Instagram. Conversion doesn’t mean sales on your website, it could mean simply someone converting and eventually browsing to a desired page on your website, however not necessarily making any transaction. Learn about social media conversion here.
Low Cost Business Ideas
Here are some low cost business ideas to feed the entrepreneur inside you. Contrary to popular belief, you don’t need thousands of dollars to start your own business. If you want to make it as an entrepreneur, what you really need is determination and patience in order to survive the business world. If you’re looking for low cost business ideas, you’ve come to the right place because we have some brilliant ideas you can cash in on.
1. Ride Sharing Service
Thanks to platforms like Uber, ridesharing services are becoming popular worldwide. If you already have a car, you can start this business without shelling out a dime. If all goes well you can turn your ride sharing service into a chauffeur service, or hire other subcontractors to launch your own brand.
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