Over the past few years, we have observed that a large number of start-ups emerged across different industries. Of these, a majority of the start-ups closed down while some continued the struggle to maintain their space in the e-arena and only limited ones could see the sunrise into the future. While most of the start-ups that shut down had access to the required seed funding, a set business model as well as an experienced team leading them on, it is interesting to learn why the majority of those start-ups could not survive. Following such outcomes, anyone aiming to step into the e-commerce domain too would feel compelled to ask the most common yet the most basic question to oneself i.e. what is it that an e-commerce start-up really needs to turn their idea(s) into a successful business venture. At the most fundamental level, it is important we understand that the following 5 relevant tips can substantially impact the success of an e-commerce business:
Brand ambassador strategies have lately gone mainstream, as more and more companies become eager to harness the power of referrals through effective ambassador matchmaking.
3, 2, 1, launch… right? Not quite. When you’re getting ready to launch on Product Hunt, you’ve probably put months or even years of your life into this product. Failing the launch would be devastating, while doing it right can give you everything you need to turn your product into a business. This article isn’t focused on getting upvotes, but on maximizing the impact of your launch in general. By focusing on impact you’ll get the fundamentals that matter most for your long-term success.
On the night of 5th August 2018, I set out to execute one of the biggest marketing campaigns of my life which has not only helped my startup grow in revenues and customers but also gave me life lessons that shall stay with me forever. My intern, Sanjay Nalamaru, and I spent 40 hours at the Bangalore airport interacting with over 600 cab drivers to successfully convince 400 of them to advertise Stoned Santa in their cabs. I am sharing my journey of this campaign right from idea to execution and the results we were able to achieve in 3 months of the campaign going live.
If you’re stuck in the brainstorming stage, the first step is to focus on two questions: ‘Why?’ and ‘Who?’ Do you constantly have great business ideas which fall to the wayside because you just don’t know how to turn those daydreams into reality? If you’re stuck in the brainstorming stage, that’s probably because you don’t know what to do next.
Whenever there’s a holiday, no matter where it falls during the year and the work week, you know one thing’s for sure: Productivity is going to drop. But what if it didn’t have to? The struggle is real. During December alone, studies show that more than two-thirds of workers report being less productive compared to other months. Employee absenteeism and distraction pose significant costs to the overall economy and your bottom line in particular. Even non-holiday events can have a high cost: The 2017 solar eclipse cost the U.S. an estimated $700 million in lost productivity. For every 14 minutes employees spend shopping online at work during CyberMonday, employers can lose $450 million in productivity/wages.
Alli Webb, the successful founder of Drybar, shares the best (and worst) career advice she’s ever received. Like many of the best business ideas, Drybar, a chain of hair salons specializing in blowouts, was inspired by a personal need. Founder Alli Webb knows from experience that the right hairstyle can have a significant impact on your self-confidence, and it was her struggle with her own hair that sparked the idea for a chain of salons offering affordable hairstyling services to the masses—aka Drybar.
The game of entrepreneurship can feel like a never-ending round of Chutes and Ladders. Just when you think you’ve reached a new level, everything you worked for suddenly takes a turn, and you are faced with the daunting task of toughing it out or letting it all go.
And sometimes, even when things seem fine, those in charge walk away willingly. Here’s a big example. Instagram cofounders Kevin Systrom and Mike Krieger recently decided to separate from their cyber baby and move on to their next innovation. Though this news came as a shock to many, including those within the Instagram camp, it’s not uncommon for business people to shift gears to create something new. (Some are considering the move Systrom and Krieger’s way of separating from Facebook while the tide is still high.)
As a startup founder in Silicon Valley and advisor to some of the hottest startups in the last five years, I have had the opportunity to understand founders, fundraising and the startup growth process. (Full disclosure: I was a consultant for Uber and Airbnb and a startup advisor for Salesforce Ventures and Google Ventures.) In 2018, I moderated 12 pitch competitions across the country, funding 10 up-and-coming startups. But it isn’t easy being a founder in highly competitive Silicon Valley, and funding is becoming scarce. Here are my top dos (and don’ts) for grabbing the attention of Silicon Valley investors.
Keep growing, learning and moving forward. You can’t be great if you don’t commit to the first step. According to banking behemoth JPMorgan, there’s an 18 percent chance of an economic recession during the next year. The risk increases to 52 percent within the next two years and reaches a staggering 72 percent by 2021. Will it actually happen? That’s anyone’s guess, but it pays to be smart and savvy about what you’re doing now to protect yourself in the future. A market crisis doesn’t mean certain death — it could mean the birth of a new entrepreneur.