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We looked inside some of the posts by financial-management and here's what we found interesting.
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10 Ways to Boost Your Startup’s Customer Acquisition
Many startups struggle with finding and retaining customers. Having a sustainable and systematic customer acquisition strategy is an essential component of success for any organization, especially as a startup. Once you’ve implemented the basics to identify and attract new customers, you need to continue growing.
Why is customer acquisition important?
If you have a product or service to sell, you need a customer acquisition strategy. A good strategy will help you grow in a targeted and cost-effective way to attract the right customers.
Your customer acquisition strategy is the link between your marketing and customer relationship management. It provides the framework to grow your business by helping you to gain new customers while you retain the ones you have.
Building a customer acquisition strategy
Once you’ve defined your target market segments, you understand their needs and desires.
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THE END IS NOT NIGH: The myths of Australian startup funding
Last week, on the back of BlueChilli’s shift in strategic direction away from early-stage startups, a leading Australian newspaper suggested that support for startups in Australia is going backwards.
These reports perpetuate two myths. That support for startups can be measured by the number of accelerators or early stage funding available. And that, by extension, a startup’s success comes down to how much funding they have raised and how quickly.
On 11 November 2019, BlueChilli, one of Australia’s leading startup accelerators, announced it was pivoting its focus from building early-stage startups to working with scale-ups in Australia. Scale-ups are founders of later-stage startups.
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Melbourne’s Linktree makes CNBC’s 100 startups to watch
Linktree co-founders Zaccaria, Nick Humphreys and Anthony Zaccaria
Melbourne-based social media venture Linktree is the only Australian startup to make the cut in US business site CNBC’s list of the world’s most promising startups.
The annual list by CNBC looks for the top 100 venture-backed startups globally with the potential to transform industries and become tomorrow’s household names. The 2019 Upstart 100 list was chosen from more than 600 nominees and based on eight metrics detailed here.
A quarter of the top 100 are led by women, and 40, including Linktree, are less than three years old. All were founded in the past five years, 11 in the last year.
Linktree has bootstrapped from the start and the 100 on the CBNC ones to watch list have raised no more than US$50 million in venture capital.
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4 Ways Business Owners Can Promote Small Business Saturday on Social Media
This year, November 30 marks the 10 year anniversary of Small Business Saturday. It’s amazing to think that shoppers have spent a decade helping lead the #ShopSmall movement forward!
Launched by American Express, Small Business Saturday is sandwiched between Black Friday and Cyber Monday. While these two days are famous for being the biggest holiday shopping days of the year, many shoppers frequent local small businesses in support of Small Business Saturday. Local businesses host open house events, decorate their storefronts with customized marketing materials and engage with shoppers via social media to encourage their biggest shopping day of the year.
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4 Ways to Get Financing Quickly Ahead of Small Business Saturday
If you’re a small business owner and are looking to drive traffic this holiday season, make sure you take advantage of Small Business Saturday. An annual event, this holiday has become a phenomenon: according to BusinessWire, an estimated 104 million U.S. consumers reported shopping or dining at local, independently owned businesses — and spent $17.8 billion — during Small Business Saturday in 2018.
Whether you own a coffee shop, a yoga studio, a restaurant, or a boutique, participating in Small Business Saturday this year on Nov. 30 can help you earn additional profits and reach a new customer base. However, preparing for this event can be costly. If you’re short on cash, here’s what you need to know to get ready for SBS.
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Keep Your Startup Growing by Avoiding These Financial Pitfalls
You put a lot on the line when you start your own business. You’re committing yourself to long hours, hard work and a great deal of uncertainty. And if you’re expecting to brave the shark tank with a huge influx of cash from investors, think again.
Venture capitalists account for only 0.05 percent of startup funding. If you’re like most entrepreneurs, you’ll be risking a significant chunk of your personal wealth in starting up your business.
Nearly 77 percent of startups depend on their founders’ personal financial contributions to stay afloat in the beginning.
With so much of your own blood, sweat and tears on the line, it’s crucial to keep a close eye on your finances while building your new business. That means being smart about your spending and avoiding some of the most common mistakes entrepreneurs tend to make.
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Here’s how to measure success in your business, no matter what happens next
In tech hubs around the world, a “successful entrepreneur” label is synonymous with building something from the ground up, following a passion, and funding the business on credit card debt until that first round of venture capital is wired into the bank.
In the tech world, the glory story is about entrepreneurs who bet the farm and win the day, or sometimes lose it all.
The narrative is that if you don’t have super growth and a compelling founding story, well then you aren’t a successful entrepreneur. I see it differently.
Every entrepreneur starts as a small business owner. A tiny percentage of these businesses scale and become multi-million dollar juggernauts, but most won’t, and that’s fine. For some, success is about monthly revenue growth and a growing bank balance. Others say success is about the freedom to control their destiny, where just enough is plenty.
For some, it means flexible hours or choosing their customers.
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Minimum Sales Requirements: The Truth About Small Business Financing
Every successful business had to begin somewhere. Apple started in Steve Jobs’ garage, after all. While you’re probably not aiming toward worldwide corporate domination, you know your business plan has solid potential… as long as you can get funding.
Too often, traditional lenders seem willing to hand over cash only to businesses that are already operating at high volumes. If you’re in the early stages of building your business, you need to know that funding is available to you through a variety of approaches.
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5 Business Tips from a Seasoned Female Entrepreneur
I don’t know about you, but I love getting advice from entrepreneurs who have been in business longer than me. Whether they’re sharing what to do…or what not to do, I squirrel away that information for when I need it.
I’ve been running my own content marketing agency for 13 years, so I might have a thing or two I can share with you! I hope that at least one of these tidbits of advice will help you on your own entrepreneurial journey.
Stop trying to be all things to all people
This was a hard lesson for me.
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Ready to Become an Entrepreneur? Ask These 5 Questions First
Entrepreneurship, to an outsider looking in, may appear exciting and glamorous. Business owners get to set their own schedules, work at their own pace and follow their dreams. It’s so appealing that many envious individuals (with an idea and an entrepreneurial mindset!) may feel like it’s time to ditch their 9 to 5 jobs and become an entrepreneur themselves.
The reality of entrepreneurship, of course, is that it’s a lot of hard work. Becoming a small business owner means seriously committing to the business every day. You must be able to overcome challenges, be driven to reach your goals, and have a well-constructed business plan that lays out the groundwork of your startup.
Think you can handle it? Ask yourself the following questions to determine if you’re on the right path.
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4 Factors to Consider When Choosing Between TV and Online Video Ads
Not too long ago, video advertising was mostly done through television advertising. Aside from the ads theatergoers saw before a feature film, brands trying to win viewers’ attention had only one platform on which to do it: TV.
Today, advertisers not only have the internet, but they also have a series of social media platforms to select from: YouTube, Facebook and Instagram Stories each have their own audience, optimization tools and cost structure when it comes to advertising.
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How to Minimize Risk and Grow Your Business Responsibly
Being a business owner is one of the hardest, most stressful jobs, and every decision can feel like it’s “make it or break it” for the chance at success. The goal of nearly every startup is to expand its business to serve more people. The question, however, is what expansion strategy to pursue. Whether you’re making a new round of hires or scaling substantially, how do you help your company grow responsibly?
With my experience as founder of Kango, a rideshare company for kids, I’ve learned how to grow a business responsibly, and I want to help other entrepreneurs and small business owners do the same.
While every business is different, here are a few pieces of advice to guide your company into a phase of responsible growth.
Build expertise and reputation
By building your expertise, your startup will be able to gain notoriety within the industry.
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6 things this director learnt from taking their startup to IPO
The US regulator proposed a plan at the beginning of the year for companies to be able to “test the waters” for a potential initial public offering by gauging investor interest ahead of time.
In 2017, the SEC extended to all companies the right to file IPO paperwork confidentially. The initiatives are part of an effort to boost the number of public companies in the US which have been on the decline for a number of years now.
In Australia, IPOs are on the rise.
This week, Osteopore (ASX: OSX), the company where I am Executive Director, was the 35th to list this year and there are, at least, 35 more scheduled to begin trading on the ASX before 2020.
At this hump point in the 2019 listings, it’s pointing out some key lessons that can make for a successful IPO process.
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Here’s How Differences By Generation Influence Buyer Decision-Making
Today, the retail industry is adjusting to online-first shopping habits, but it’s also trying to balance new buyer attitudes. Retail has evolved because people have evolved. While Baby Boomers may shop one way, Gen Z is completely different.
Learn how each generation prefers to shop and how you can use this information to transform your business.
Generational shopping habits
Keep in mind that everyone is unique, regardless of their generation. Use these generational shopping habits not as gospel, but as general rules of thumb to build your business.
Baby Boomers
Baby Boomers were born between 1946 to 1964. They make up 29 percent of the American population and have a lot of buying power. This generation tends to have more trust in branding and advertising. They grew up in an age where quality was king, so they learned that what was on the shelf was to be trusted.
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Adam Neumann ‘got on the last helicopter out of Saigon’: a business school professor’s brutal WeWork analysis
US co-sharing office startup WeWork had a valuation of $47 billion as it moved towards an IPO in August
Founder Adam Neumann stepped down as CEO amid growing concern about his behaviour and the company’s viability and the IPO was withdrawn
A long time critic says the company looks set to lose thousands of jobs, could be headed to bankruptcy and will cause massive damage to key investor SoftBank’s $100bn tech fund
Scott Galloway, professor of marketing at New York University’s Stern School of Business, saw the WeWork trainwreck coming down the tracks in 2017.
Even two years ago he thought Adam Neumann’s office space venture was overvalued, and after the business filed for its IPO in August, Galloway let with an analysis titled WeWTF on his excellent, provocative business insights blog, No Mercy/No Malice.
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5 things you should know about tech today
Hello and welcome to Startup Daily’s new morning roundup of tech and startup news, both here and overseas.
Let’s get cracking
1. The NBN is chasing Telstra’s enterprise customers with government support.
Communications Minister Paul Fletcher is speaking at the Committee for Economic Development of Australia (CEDA) conference today and will reportedly say that the Morrison Government considers the NBN targeting the the enterprise market and small and medium business “as a core part of the company’s mission”. The move will come at a cost to Telstra, which dominates the fixed line broadband market for business. NBN, designed as a residential high speed broadband, hopes to bolster its revenue stream with $1 billion from business customers by 2022. The AFR got the drop on the Minister’s speech and has the details here.
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A social enterprise founder who gives away condoms is now turning wine into much-needed water
If the name Dustin Leonard sounds vaguely familiar, it’s probably because the last time you saw the dashing expat Texan, he was handing out free condoms in Africa.
Leonard was in his 20s when he founded the social enterprise Hero Condoms, which aims to reduce the spread of HIV-AIDS in a buy one/donate one program. More than 2 million condoms have been given away in Botswana, which has the fourth highest HIV prevalence in the world. The good news is that figure is falling.
Back in 2015, as he was busy with the campaign, Leonard was also named a Cleo Bachelor of the Year finalist.
Fast forward four years and Leonard has launched a new venture for people who want to help change the world that doesn’t involve having sex.
Little Ripples is his wine label, and every bottle sold also provides a year’s worth of clean drinking water to one person in the developing world.
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