Pivot business strategy – table of contents:

1. One vision, various strategies
2. Business flexibility
3. How to develop a successful pivot business strategy?
4. Pivoting vs. agile management
5. Summary

One vision, various strategies

The necessary changes introduced in companies to meet the needs of today’s market and customers are the essence of pivoting. The dynamic nature of business operations often means that initial plans may not guarantee success in reality. As a result, pivoting has become a popular practice among several brands, involving the introduction of various improvements to the strategy while remaining true to the main vision of the enterprise.

Each pivot brings a new strategy or business model, but doesn’t change the overall vision that brought your startup idea to life. Pivoting doesn’t transform your initial concept, but lets you make various improvements to ensure and increase your customers’ satisfaction.

Any type of change in business, whether it is related to using other sales channels, targeting a new audience or shifting your business model, carries a certain degree of risk. While such changes are often necessary due to the evolving market dynamics, they can’t guarantee success.

To minimize such risk, companies should thoroughly analyze consumer behavior and the market itself. Also, business forecasting can help evaluate the likelihood of success and maintain a stronger position after implementing strategic changes.

For any effective change to take place, it is crucial to have reliable information from trusted sources. It is important to pay attention to specific customer opinions and their most important needs, which should then be followed up with specialized research on present and future market trends. This helps to justify the essence of the specific improvements being made.

Strategic actions involve costs that can outweigh their benefits if the pivot fails. Therefore, it is essential for entrepreneurs to have a complete understanding of the market they aim to conquer with their products before taking any real steps.

Business flexibility

The dynamic nature of the market and evolving customer expectations make it clear that no idea can be considered a safe option for a long period of time. What may seem groundbreaking today, could easily be surpassed by the next innovative business tomorrow. Therefore, businesses can’t afford to rest on their laurels.

As a business grows and time passes, new challenges emerge, which can’t be overcome without adapting the overall strategy. It’s essential for startups to constantly adjust and refine their approach in order to stay ahead in a rapidly changing landscape.

The constantly changing business environment has made flexibility a crucial factor in the success of companies operating in various market sectors. The ability to respond smoothly and efficiently to these changes is vital. Achieving this desired market flexibility can be done through pivoting, which involves making strategic changes to a company’s operations or business model in order to adapt to new circumstances and challenges.

Pivoting requires considerable planning and execution. A clear action plan allows for greater control over the whole process, minimizing the risk of failure. A lack of expected results or some deviations from planned operations become a signal to shift existing practices.

However, business flexibility is not limited to responding swiftly to changes in the environment. It is equally important to ensure the smooth execution of subsequent steps in a pivot business strategy. Apart from refining offerings to meet the changing consumer preferences, pivoting can also be a powerful strategy for entrepreneurs looking to enter new markets or expand their existing customer base.

How to develop a successful pivot business strategy?

Pivoting is a process that consists of a number of stages, and their proper implementation can guarantee its success. There are many types of pivots, each with its own goals and dimensions. However, this doesn’t mean that it’s impossible for entrepreneurs to exercise rational control over the effectiveness of practices implemented in this area.

By closely monitoring and evaluating the outcomes of their pivoting efforts, business owners can ensure that their changes are yielding the desired results.To ensure better control over the pivoting process, it is important for businesses to take certain fundamental steps. The following ten steps can help companies effectively navigate it:

1. Conduct a thorough analysis of the market, leading trends, and the primary needs of modern consumers.
2. Compare your offer with previously gathered market data and assess the degree to which you have achieved your basic business objectives.
3. Develop new brand concepts and choose those with the greatest potential.
4. Choose one of the ideas closely related to achieving specific goals that lead to effective change.
5. Prepare a prototype of the new offer.
6. Test the new product by providing a trial version to the target group of customers.
7. Collect feedback and make any necessary additional improvements.
8. Update the current strategy and business model to enable a smooth introduction of the new offer to the market.
9. Release the product/service to the market.
10. Monitor progress and respond to any complications that arise.

Pivoting vs. agile management

As we’ve explained before, the foundation of pivoting is change. Any business improvements require a high degree of flexibility of implemented actions and plans. When pivoting, a company departs from its current practices and invests in a new, enhanced version of its offer.

Pivoting is part of the broader process of ongoing improvement which, through the use of advanced analyses, is able to adapt the business model to generate the greatest benefits for both entrepreneurs and their customers.

As the demand for business flexibility increases, many companies that implement pivoting tend to shift away from traditional management techniques. In traditional organizational structures, only senior-level employees make key business decisions, which can slow down the pivoting process. Therefore, a much more popular and effective approach is to adopt agile practices.

This new model emphasizes the importance of team collaboration towards one goal. Each member is equally important and has the right to express their ideas and concerns. In this way, the company can better analyze the situation and develop accurate business hypotheses.

The successful introduction of such a work organization system heavily relies on well-coordinated communication among all employees. A transparent exchange of information enables team members to promptly respond to changes, which streamlines the pivoting process. Moreover, when the team is genuinely committed to the system, they can better understand any improvements, leading to greater control over the progress and implementation of strategic goals.

Both pivoting and agile management, rather than rigidly following a predetermined plan, promote flexible response to change through ongoing adjustments to the implemented business strategy. Even the best-designed plan, which initially seems to guarantee the desired success, may, over time, require necessary adjustments, and this is when pivoting is worth considering.

A pivot business strategy – summary

In today’s rapidly changing market, it has become increasingly difficult for companies to rely solely on a single business strategy to guarantee long-term success and a stable competitive position. Modern realities are forcing entrepreneurs to adopt flexible and agile operations that enable them to respond efficiently to any changes occurring both in their environment and within their company. This approach helps them to stay ahead of the competition by being adaptive and responsive to the evolving needs of the market.

You’ve just learned how to develop a successful pivot business strategy. Read also: What is a business risk? 4 important types of business risks.

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How to get customers – table of contents:

1. Harsh beginnings?
2. Everything starts with a plan
3. The magic of the Internet
4. A tempting offer
5. Just be there!
6. Summary

Harsh beginnings?

The contemporary market is extremely dynamic. Consumers have more power and new trends emerge, making it difficult to choose the right business approach. Success depends on understanding consumer behavior through data analysis.

Individual customers’ preferences change as quickly as the market does. Therefore, staying up-to-date with the market is crucial to reach the target audience effectively. Understanding the real needs of buyers allows us to effectively match the product’s features with their preferences and choose the right marketing strategies for promoting and communicating with our audience.

Today’s market is saturated with various products, and the large number of companies operating in it makes it more and more difficult for entrepreneurs to stand out, create a lasting impression on consumers and build a strong relationship with them. As a result, such a demanding environment motivates businesses to become more involved in selecting and adapting marketing strategies.

Everything starts with a plan

Acquiring and maintaining valuable relationships with customers requires careful planning, just like other stages of introducing a new brand to the market. It’s important to define the target audience right from the start, which will allow us to focus on crucial promotion details that impact the overall success of the company.

Promoting a new product takes on a different form in the case of B2B sector and private customers. Depending on the specifics of the market where we ultimately want to operate, the company should apply tailored sales strategies.

When planning a campaign, it’s important to consider the length and specifics of purchase cycles for each product. Products that customers purchase quickly and without much thought require a different strategy than those that undergo a more detailed analysis.

When creating a plan aimed at acquiring new customers, we can’t forget about choosing the right communication channels that will let us reach our target consumers effectively. Taking into account their market behaviors, purchasing habits, and individual preferences that set them apart from other buyers, give us a chance to enhance their overall shopping experience and promote our product successfully, which will significantly contribute to the success of a fledgling brand.

The magic of the Internet

The dynamic development of technology has significantly influenced the purchasing process. With the emergence of modern tools and systems, consumption is becoming increasingly virtualized. As a result, customers are now more willing to use virtual solutions, and they expect companies to make the most of their potential.

Therefore, businesses can’t ignore the virtual dimension of consumption. The Internet greatly affects acquiring new customers, and social media platforms have created new forms of communication with buyers. One-way communication is no longer effective, and open dialogue with customers is now more fruitful. By involving customers in the decision-making process, businesses can strengthen their attachment to the brand.

When seeking to expand a customer base, having an active presence on various social media platforms is crucial. A brand’s presence on the Internet can greatly increase its credibility, as it provides an opportunity to showcase more than just marketing slogans. Companies can present themselves from a different perspective, highlighting their values and ideas behind their various activities.

What is more, the brand can stay in touch with potential buyers. Through social media, communication with the audience becomes more direct. In this way, the company shows its commitment and personal approach to the customer, who is no longer just a passive listener, but a motivated creator of the message.

However, using the Internet to promote our business shouldn’t be limited to building our presence on social media. It’s equally important to have a properly optimized website. The tool, apart from its obvious marketing function, facilitates contact with customers who, with just a few clicks, can get the most important information about a given product or company.

Nowadays, a website serves as a digital business card. Therefore, it’s so important to design it in line with the overall brand image, SEO principles, and the latest e-marketing trends. A consistent messaging strategy reinforces the company’s identity and has a positive impact on its perception by customers. The website should feature clear graphics and color schemes that evoke positive associations, as well as be easy to navigate.

A tempting offer

Price is one of the key factors influencing the consumer decision process. Although many buyers pay attention to such aspects as quality, availability, or brand values, it is the amount they must pay for the product that most often motivates them or, on the contrary, discourages them from buying it.

To get new customers, companies may therefore skillfully manipulate the price of their offer. Various promotions, bonuses, special offers, or discounts effectively attract buyers, even those who aren’t familiar with the brand yet. Such a method lets us reach wider audiences who, tempted by an attractive price, decide to try out our product. When they get good quality along with a reasonable price, they are usually convinced to stick with a brand for future purchases.

Therefore, although the price plays a significant role, the company can’t forget about other aspects that are important to buyers. Promotions are temporary, and when they end, the brand must differentiate itself with other elements of the offer.

Just be there!

One of the most important elements necessary to attract new customers, regardless of the type of business, is brand recognition. Buyers tend to purchase the most popular products on the market, which increases their confidence in the brand. Building a strong brand recognition requires skillfully conducted marketing activities.

Providing customers with various samples is an effective method to build trust. Customers can try the product for free and enjoy its benefits, which can create a positive impression and encourage them to use the product again. Eventually, they may purchase it at its full price.

Apart from using traditional advertising strategies like running social media profiles, investing in ads, and optimizing their website, many companies are now exploring unconventional ways to promote their brand. For example, they participate in events that may not be directly related to their industry. By doing so, they can build useful connections and increase their brand’s popularity. By promoting their products in diverse communities, the brand can attract new customers and expand its customer base.

In today’s world, where there is a constant influx of marketing information, it can be difficult to grab the consumers’ attention. Consumers expect marketing to not only persuade them to buy products, but also entertain them. Therefore, businesses that can provide both essential products and a positive shopping experience will be the ones that win their loyalty.

Summary

With the fierce competition in the market, it can be challenging for new businesses to attract new customers. This is especially difficult for young companies with limited funds. However, unconventional marketing strategies can prove to be helpful in setting them apart from similar organizations.

Read also: What is a business risk? 4 important types of business risks.

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Types of startup pivots – table of contents:

1. The truth about a startup pivot
2. When to pivot a startup business?
3. Types of startup pivots
4. Is it a pivot?
5. Summary

The truth about a startup pivot

One of the basic features that sets all startups apart is high uncertainty. This forces startups to be particularly vigilant and highly flexible in their business operations, which will allow them to successfully meet the rapidly changing consumer preferences.

However, even despite such great versatility and a departure from the traditional mechanisms of running a company, every startup needs a clearly defined strategy and business model. But what if an initially attractive action plan turns out to be unsuccessful?

With help comes pivoting, that is fundamentally changing the direction of a business, creating real opportunities to successfully overcome emerging challenges. Pivoting, then, allows you to make the necessary strategic changes while staying true to the startup’s original goals and vision.

When to pivot a startup business?

A startup’s success largely depends on the business model itself. Apart from real profits for startup founders, it should also bring tangible benefits to customers. By allowing you to focus on properly selected market segments and the most effective sales channels, a well-functioning business model gives you a chance to reach people who are looking for the ‘perfect’ products.

However, finding a suitable business model is not always so easy right away. Sometimes, budding entrepreneurs need to try various practices first to finally see which solution is the best option for growing their business. It is difficult to clearly identify a universal moment to start pivoting as each company has its own unique history and individual goals.

When looking for the right moment to change your strategy, it’s crucial to thoroughly analyze your customers’ needs, business environment and the very structure of your business activity. However, even despite such great diversity of businesses, it is possible to identify circumstances that may signal the need for some changes.

The first aspect to look at is overall customer satisfaction with your product. If, after the product is launched, it turns out that consumers pay attention to completely different features of the product than it was first intended, and they don’t recognize its basic functionality, it’s time to rethink your business strategy.

At this point, it’s good to remember that the product is created first and foremost for customers. Therefore, it’s necessary to listen carefully to their opinions, treating them as valuable tips to improve the offer.

Pivoting proves useful whenever initial plans, when confronted with business realities, turn out to be ineffective to give a startup satisfactory profits and a strong position among its competitors. Therefore, running a startup requires entrepreneurs to constantly stay on their toes to be ready to pivot their business when necessary, which can be the most effective solution.

Types of startup pivots

A bad product-market fit, difficulties in achieving previously set goals or a sobering confrontation with harsh reality are factors that motivate entrepreneurs to start pivoting. Depending on the source and specifics of the problem that they are facing, it’s possible to single out the following types of pivoting:

• Channel pivot – it’s connected to the changes related to sales channels. For example, moving sales to the Internet or adding new sales channels to your ecommerce growth strategy.
• Zoom-in pivot – it’s about focusing on one aspect of the product, putting the improvement of its other features somewhat in the background. In such a situation, what previously was considered a single feature of the product becomes the whole product.
• Zoom-out pivot – it’s the opposite of the zoom-in-pivot, the startup focuses on expanding the functionality of the released product until it reaches a sufficiently attractive form for the target group.
• Customer segment pivot – refers to the situation when your offer reaches a different consumer group than you initially expected. Entrepreneurs should then make every effort to efficiently update data on the new target group, adjusting the entire strategy accordingly.
• Technology pivot – it occurs when you change the technology your product is built on.
• Customer need pivot – this pivot is necessary when your product doesn’t solve the right customer’s problem and you need to concentrate on a different one that is worth solving.

Is it a pivot?

It’s worth noting that not every change in business should be equated with a pivot straight away. Minor changes connected with day-to-day activities, such as running new campaigns, expanding the team, changing office locations, updating prices of products and services or building your portfolio are natural improvements that will make your startup function well and grow.

On the other hand, a pivot can’t be understood as a general change, completely removing an existing venture from the business world. When the introduced changes are so radical that they lead to a full rebrand and involve the birth of an entirely new company, this is referred to as restarting a business.

Summary

Setting up a startup involves great vigilance and flexibility, which make it easier to stay strong in a highly dynamic market. Budding entrepreneurs should be aware that even the best-designed plan, when confronted with the unpredictable business realities, may need some improvements, and that’s where pivoting will help.

Read also: 10 questions to ask before you start selling a product.

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Coworking space – table of contents:

1. What is coworking?
2. Cost reduction
3. Expert advice
4. Creative environment
5. Networking
6. Events
7. Flexibility
8. Summary

What is coworking?

In other words, coworking is working together, in a shared space, but separately – on your own and at your own desk. Instead of working in an office or in a home environment, which tends to be less effective and distracting, you can decide to rent a modern coworking space full of inspiring people and fostering innovative ideas.

More and more freelancers and startups decide to use coworking spaces (e.g., specialists, graphic designers, architects, journalists, photographers). Interestingly, according to a survey conducted by Office Nomads and Emergent Research during the Coworking Unconference Conference, as much as 84% of people – thanks to using coworking – feel more engaged and motivated to work, and 89% indicate that a coworking space makes them… happy.

Cost reduction

When starting a business, we usually either choose to work from home or in a rented place. However, renting an office involves unnecessary costs and a space that you usually do not fully use at the beginning.

For many people, a better solution is to rent a single, well-equipped desk in a business incubator or a coworking space, which also has offices and conference rooms available for meetings with clients. This solution helps minimize costs and maintain a professional image of your company.

Expert advice

What is extremely important, not only for fledgling businesses, is the opportunity to benefit from the expert knowledge. Business incubators usually have contact with specialists and experts whose ideas can accelerate the development of your company, and who are able to provide assistance in, for example, choosing the right marketing tools or preparing a speech for investors.

Creative environment

Everyday work can be tedious and it’s easy to fall into the trap of losing efficiency – you work a lot, but less and less productively as you lack positive motivation. Working in a place full of open-minded people from various business fields, while having the opportunity to observe other entrepreneurs and their approach to projects, you stimulate yourself to work constructively, as well as improve your focus and increase productivity. In addition, most coworking spaces are arranged unconventionally, which fosters creative thinking.

Networking

Growing a customer base quickly is the dream of every entrepreneur. Being close to people working in interdisciplinary fields is deeply inspiring. It allows you to refine your idea by getting feedback from many different sources, but also to get in touch with the right person. Your contact list expands, and your company starts to be recognizable in the business community.

Events

Another advantage of renting a desk in a business incubator is the opportunity to take part in the events held there, not only as a participant, but also as a speaker. Such events are an excellent occasion to present your startup and get to potential customers or business partners. This is a solution that can significantly accelerate the growth of your company, and help reach the media and bloggers.

Flexibility

What if you aren’t a fan of getting up early? Some coworking companies allow you to use your desk at any time, 24 hours a day. Many night owls or people who tend to work longer than eight hours a day make use of this option.

Summary

These are just some of the benefits of working in an interdisciplinary environment. To find more of them, just join a coworking space. Perhaps a desk in a coworking space will prove to be just what your business has been missing.

Read also: 10 questions to ask before you start selling a product.

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Selling a product – table of contents:

1. Is my product unique?
2. Who is my ideal customer?
3. What are my main goals?
4. Do I have anyone to work with?
5. Do I have the resources I need?
6. Have I planned the sales process?
7. How to price the offered products?
8. Who are my competitors?
9. How do I reach my customers?
10. Should I launch my product now?
11. Summary

Is my product unique?

A highly competitive market makes it more and more difficult for companies to stand out and successfully attract buyers’ attention. Even the most innovative product must have that special something in it, so it can guarantee greater customer satisfaction than other offers available on the market. That’s why, even before the official sales process begins, the company should make sure that the created product is attractive and unique enough so that, right after its launch, it can quickly become the number one for its target audience. It is therefore important to control the USP, that is, the unique selling proposition. This element determines the uniqueness of the created offer.

Who is my ideal customer?

Building a credible buyer persona is one of the most important steps during the development of any business. Clearly defining the profile of the people who will soon begin to play the role of your customers, allows you to tailor the entire offer to their real needs. This will therefore satisfy your customers, as they will get exactly what they expect from you.

Getting to know your customers better helps to shorten the distance between the parties and strengthens the consumers’ attachment to the new brand. This improves the very process of gaining loyal customers who, when faced with the choice between multiple offers, will be ready to pick your services.

What are my main goals?

Building any business is associated with the individual ideas and objectives of its owners. Sometimes the venture is purely about making a profit, and other times, it has a more meaningful goal. However, regardless of the nature of individual plans, it’s necessary to devise them accurately at the very beginning of establishing a business.

By clearly defining the desired results, you can accurately identify the aspects of the business which you should particularly focus on. Setting specific goals eliminates unnecessary business operations that consume valuable time and funds. Moreover, the very process of building a strategy becomes much easier as you know exactly what you want to achieve and when.

Do I have anyone to work with?

The right team is the cornerstone of any business, and without the involvement of properly qualified employees, even the best idea has little chance of succeeding in the market. Therefore, already in the initial stages of startup development, it’s worth betting on a thoughtful selection of employees who will be able to work independently, without the need to control them.

The early stage of running a business is a dynamic period when one change chases another. However, among the few constants is the team, which, despite the successive growth of the company, should still be guided by the same goals to achieve the best possible results.

Do I have the resources I need?

Setting up a business involves huge costs, which most often pay off only after a few years of being in the market. Initially, therefore, most entrepreneurs rely on loans and investor support. An extremely important step is to identify the resources that you are able to provide on your own, and those that you still need in order for your business to develop properly.

Forecasts for the next years of the company’s operation should also be taken into account. Analyses, which should already be done at this stage, are an important source of knowledge about your potential needs, considering such aspects as increasing sales, boosting brand recognition, increasing the number of loyal customers or, on the other hand, losing customers and growing competition.

Have I planned the sales process?

A successful launch of a new product requires careful organization of the entire sales process. Planning the individual steps clearly sets a proper and understandable course of action for the entire team. Gathering information about the form of cooperation with various contractors, the way of acquiring customers or supplying products, allows you to thoroughly analyze the stages between the creation of an offer and its final delivery to customers. As a result, the entrepreneur gains greater control over the entire process and receives a valuable crisis prevention tool.

How to price the offered products?

The price of a product is one of the most important aspects that, right from the start, customers pay close attention to. It is quite logical that buyers want to acquire as many products as possible at an attractive price. On the other hand, manufacturers, expecting profits, strive to sell products at the highest possible price. So how to reconcile the expectations of both sides? There is no universal solution. Everything depends on the profile of the company, the produced goods as well as the very structure of its target group.

What is certain, however, is that this question should be answered even before the new product is launched on the market. The set price should be tempting enough for buyers, and at the same time, allow the company to make satisfactory profits that will easily cover its costs. At this stage, it’s worth using various types of analyses to determine the optimal amount.

A close examination of the entire production process and the future work required to launch the product will provide key data. In this way, the company can calculate its expenses that should pay off once the sale begins. What is more, analyzing your competitors’ prices will allow you to realistically assess how much customers are willing to pay for certain goods.

Who are my competitors?

A highly competitive market means that, in fact, regardless of the type of your business, you will always have competitors, both direct and indirect. By getting to know what they’re doing, you can gain valuable information about how individual markets function and identify the areas where it will be easier for you to stand out. What is more, an analysis of the strategies previously employed by other companies will give you a chance to develop your own development procedures and processes.

How do I reach my customers?

The choice of individual sales channels should depend on the identified preferences of your target group. Even before the sales process begins, you should carefully plan the entire path of the product that it will take to eventually reach the buyer.

How you interact with the customer greatly affects the overall success of the business. The way the customer can purchase your product and a positive buying experience determine whether they will choose your brand in the future again.

Therefore, both communication and sales channels must be tailored to consumer behavior, which has been previously analyzed. Thanks to it, properly conveyed advertising information about a product will become even more effective, and the ease of making a purchase through widely available channels will make customers, without having to think much about it, buy even more eagerly.

Should I launch my product now?

Choosing the right time to launch a new product has a great impact on the success of your business. It should depend on the economic situation and the conditions that currently prevail on the market, such as the demand for a particular type of goods. Starting a business when certain products are particularly needed can greatly speed up the achievement of the desired results, instantly attracting new customers.

Summary

Launching a new product is a complicated process that requires analyzing several key aspects. Understanding the market and your target customers’ needs lets you get your business off the ground and significantly increases the chances of success. Therefore, the questions presented here attract the attention of budding entrepreneurs, showing them the areas that need to be analyzed at the very beginning of their business adventure.

Read also: How does venture capital work?

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How does venture capital work? – table of contents:

1. What is venture capital?
2. Who is venture capital for?
3. The pros and cons of venture funding
4. What are the risks of taking venture capital?
5. Where to find investors?

What is venture capital?

Venture capital funds are a form of external financing obtained in exchange for a temporary allocation of shares in the financed business. The investor in this case is an entity wishing to optimize the return on the capital at its disposal by investing it in a high-potential startup. Thus, venture capital is an attractive form of financing for innovative startups with limited financial resources, but great growth potential.

Who is venture capital for?

Venture capital is dedicated especially to business entities with a strong business model and significant growth potential. Therefore, it is necessary that the entity applying for funding in this form has some market experience, giving investors a guarantee of intensive business growth.

Technology, biotechnology and information technology industries are often the chosen investment sectors. It is important that the capital recipient has a certain competitive advantage, being the reason for investors’ interest. It can manifest itself, for example, at the product, service, pricing, managerial or market level.

A proper structure and presentation of the project to be financed is equally important. Venture capital as a high-risk investment requires convincing the investor of the profitability of their capital commitment. Thus, a VC fund is an attractive option for companies with an innovative idea, which is often too risky in the eyes of traditional banking institutions.

The pros and cons of venture funding

Among the benefits of using venture capital, the financial aspect of the investment definitely comes to the fore. In this way, innovative companies obtain capital that is often not available to them from any other source, and which can greatly speed up the development of the company and its projects. All this without establishing any collateral, which is often a great problem for companies with limited material resources.

The financed entities are also not obliged to pay regular interest-bearing installments – as the investor receives dividends. The costs are therefore directly proportional to the profits the company earns.

Startups using venture capital funds, however, get much more than a cash injection. This is because investors are often entities with an established market position, with a broad database, know-how, contacts, infrastructure, proven logistics channels and support from specialists.The risk taken by investors leads them to care about the success of the venture – so you can count on their extensive support, which translates directly into the benefits they receive as shareholders.

The VC fund is a form of financing that guarantees stability for startups. Collaboration is established during their growth phase, which bodes well for cooperation with an investor who will probably want to continue funding the venture. Even if their stance were different, however, pulling out of the deal without agreement on both sides will not be easy.

When it comes to the costs of this type of financing, they will certainly not exceed the benefits – after all, it’s the share of the company’s profit that is the investor’s reward. The fact that they were willing to bet on a certain business builds the image of the latter as promising – this, in turn, can attract further investors. Improving the capital structure also increases creditworthiness, which can further accelerate growth.

What are the risks of taking venture capital?

Despite the aforementioned benefits of taking VC funds, there are also certain risks associated with it.This stems from the fact that the investor in this case becomes a shareholder in the company, and therefore gets certain privileges, limiting your control over the company. Thus, you have to reckon with the payment of dividends, the distribution of power in the company and the need to consult decisions with the investor.

Also, the disadvantage of taking VC funds is the time required to implement this form of financing, which is usually about a year counting from the day the parties get in touch. High risk comes with relatively high costs. The average rate of return that the investor expects in this case does not go below the threshold of 30%. The increase of the company value also translates into the price of shares, which the investor buys much more cheaply during the initial growth phase.

Where to find investors?

There are many platforms on the Internet that offer lists of investors by country or region. One of the more popular sites with a global reach is . OpenVC is a platform that allows founders of technology companies to connect with investors. You can use the service for free or pay for a premium membership. Finding investors is quick and intuitive, and the current database includes more than 5,000 companies. Contacts can be easily filtered by target countries, startup development stages, and requirements, etc.

Read also: Startup sales. 3 useful sales tips for startups.

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Progress in your business – table of contents:

1. Accomplishing goals
2. Controlling results
3. What about the Internet?
4. Attention! You’re growing
5. Customer is king
6. Summary

Accomplishing goals

When a new company precisely defines individual goals and the time for achieving them, controlling progress is mainly limited to verifying whether the established standards have been met at specific stages of development. The introduction of such checkpoints facilitates the entire business monitoring process.

That’s why it’s a good idea to take a slightly broader perspective at the very beginning of starting your business and think about what you want to achieve and when. The more specific the goals set, the easier it will be to monitor whether we are moving in the right direction, fulfilling the main strategic objectives. So-called milestones become a valuable benchmark that gives you a chance to assess your progress at each stage of running your business.

However, it should be borne in mind that this method requires great vigilance, conscientious record-keeping and a realistic assessment of the situation. Any deviation from the previously created plan should be detected as soon as possible, reducing the negative consequences of any shortcomings. At the same time, the absence of inaccuracies is synonymous with correct, even exemplary business development, which confirms the rightness of the actions taken by entrepreneurs so far.

Controlling results

The initial stages of new businesses are mainly based on sales and product promotion alone. Before more complex development strategies can be put in place, the company must gain a circle of loyal and committed customers, which is most easily achieved through their direct contact with the offer.

By focusing on driving sales, it’s easy to monitor progress through performance. The increase in the number of products delivered to the market should be combined with the expansion of the brand’s reach, also equated with its growth. The method of comparing current results with statistics from previous years creates a clear picture of the current business situation, additionally indicating areas of the business that require various improvements.

When recent results are clearly higher than those of previous periods, we can speak of the company’s progress. Although one of the most common indicators used by various companies is sales alone, numerous brands also choose to analyze their operations a bit more broadly, resulting in a more accurate control of productivity.

Generated costs and profits, statistics on sales in specific regions taking into account individual sales channels, profitability indicators, customer base or data to estimate the popularity of the brand – all these aspects are valuable benchmarks for evaluating business progress.

What about the Internet?

Among the elements already mentioned that are closely related to the company’s performance, it is worth highlighting the role of the website and the brand’s activity in social media. The progressive virtualization of consumption has contributed to a significant increase in the importance of the Internet in the business world. Therefore, when evaluating the progress of individual companies, their virtual activities cannot be overlooked.

As new customers are attracted to the website, the customer base grows, expanding the reach that is so important for further growth. Thus, it can be concluded that increased traffic within your site shows an improvement in the overall business situation. A thorough examination of customer activity on your website gives us a chance to discover the main sources of these visits and the elements of the site that particularly draw the audience’s attention.

As a result, the company gains a valuable tool to identify specific elements, activities that bring the best results, confirming the effectiveness of the marketing strategy put in place. The cornerstone of controlling website traffic is proper analytics. Nowadays, there are various analytical tools available on the market, such as Google Analytics, which in a short time are able to provide the entrepreneur with information about the visited landing pages, the amount of time spent on them or the most frequent sources of traffic.

Attention! You’re growing

Almost every company starts with the commitment of the originator, who often, while struggling with the initial budget deficits, is able to do the necessary work of any kind on their own. The founder’s versatile skills make their business beginnings much easier, but as the company grows, the group of its customers and the overall scope of the brand’s core activities expands, it becomes necessary to hire more employees.

The gradual expansion of the initial team therefore indicates the development of the entire business. Success in acquiring customers and expanding the existing offer poses new challenges for the brand, which should be addressed by people properly trained to do so . Therefore, the process of recruiting and then hiring new employees, especially those with unique and specialized skills, indicates real progress in running a given business.

However, the signals that tell of a company’s significant growth cannot be limited only to those strictly related to the team working for results. When a brand begins to engage more in various investment activities, it means that it is generating such a great profit that, apart from fulfilling the current obligations connected with its core operations, it can also take care of its future and additional sources of revenue.

Another aspect that indicates progress in running your own business is the very form of delivering the products we offer to the market. Opening new sales channels, both online and traditional, signals a growing demand for your offer. More and more demanding customers expect companies to offer a diverse range of products, which they will easily be able to purchase conveniently, through suitably adapted channels.

A rich network of online and physical stores increases the satisfaction of the target audience, at the same time attracting new customers who, tempted by the hassle-free process of acquiring products, are less and less likely to resist the temptation to buy. In this way, the business progress achieved so far is not stopped at a certain stage, but continues to positively affect the performance of the entire company.

Customer is king

A properly developing company should successively attract new customers, not limiting itself to nurturing relationships with those it has already served for some time. There are many factors that attract a large number of buyers, such as an attractive price, a varied offer tailored to individual preferences, a customer-friendly website, favorable discounts and promotions or special offers for regular customers.

Nowadays, consumers have become the driving force of the business world, making them and their satisfaction with the provided services define the progress of the entire brand. Returning customers, positive reviews and numerous testimonials act as one of the most effective and authentic brand advertising. That’s why it’s so important to constantly strengthen relationships with buyers, refining the experiences that are important to them. Both free communication through diverse channels and great transparency of the company build stronger customer attachment to certain products. As a result, consumers also gain greater trust in the company, recommending it even more actively in the market.

A surge of customers who will also remain loyal to the brand in the future shows the correct development of the business. As you expand your own business, your customer base should grow attracting new buyers over and over again. Satisfied consumers can express their satisfaction both through positive comments posted on the website and through advice given to other users. The more people talk about the advantages of the products in question, the better for the brand.

Summary

There are a lot of elements that at first glance indicate the development of a business. Depending on the company, it becomes possible to distinguish slightly different main determinants that define its progress. Timely execution of predetermined goals, increased activity on the website and social media, expansion of the existing team, diversification of the investment portfolio or increasing the customer base – each of these indicators, together or separately, ensure the accuracy of strategic decisions made by entrepreneurs.

Read also: How to launch a product?

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Startup sales – table of contents:

1. Physical stores
2. Online stores
3. Marketplaces
4. Summary

Physical stores

One of the basic sales methods is through a traditional stationary store. The interaction with the salesperson, tangible products or the possibility to make an immediate purchase – all these are the main advantages of this channel, which continue to effectively motivate buyers to shop this way.

A key aspect influencing final purchasing decisions is the experience customers gain throughout the process. Therefore, the opportunity to touch a product, try it on or get some advice from salespeople are core values for consumers, which assure them that they have made the right decision. As a result, selling traditionally, brings customers closer to the product and builds trust in the brand as a whole.

This solution also brings all sorts of benefits to the companies that decide to use this channel. The main one is the opportunity to dominate the local market in a specific industry. Selling in a traditional way, due to the numerous obstacles to starting a business in particular markets, involves less competition than, for example, in the case of online sales. It also allows sellers to identify gaps in the market faster and gives them a chance to develop particular niches.

However, it is important to keep in mind that, despite all its benefits, selling stationary requires investing a lot of money, especially at the beginning, when we want to get the business off the ground. At the same time, the success of stationary stores greatly depends on the right choice of location, a high-quality product assortment, as well as professional staff that will provide the best shopping experience.

Online stores

With the increasing virtualization, it has become inevitable to move some sales to the Internet, where customers, with just a few clicks, can purchase products from all over the world, no matter where they are.

The virtual market has no barriers, which greatly increases the number of competitors. The multitude of available online stores makes it extremely difficult to stand out from rivals, especially without a good knowledge of e-marketing.

Also, finding a niche becomes almost impossible. So, on the one hand, the Internet gives you a chance to reach numerous customers that would be unreachable on such a scale only through physical sales, and on the other hand, it makes it difficult to break into the market.

Analyzing consumers’ opinions, the main advantages of this sales channel are convenience, flexibility and comfort. Online shopping requires minimal involvement of the customer in the entire process and eliminates the need to leave home. In this way, consumers gain valuable time, which they no longer need to spend on unnecessary activities, such as driving to the given store.

At the same time, online stores make it easier and faster to compare offers from various suppliers, including the foreign ones. As a result, making rational purchasing decisions becomes even easier. Comparison shopping engines (CSE) are also a big convenience for buyers.

The advantages of this sales channel also apply to the sellers who decide to use it. The main benefits include a substantial reduction of the costs involved in starting and running a business, which is especially important for startups that often do not have much money at the beginning.

Online stores do not need a large staff or a physical location requiring regular rent payments. It also becomes possible to move away from investing in large quantities of goods. Instead, a lot of online retailers choose dropshipping, which means they don’t even have to worry about product management or the shipping process.

However, to make an online store bring the expected benefits, it is necessary to take the right, thoughtful steps. Apart from the customized offer, the store must be properly tailored to customers’ preferences. An easy-to-use website reinforces positive feelings about the brand as a whole, and motivates customers to buy more often.

When starting to sell online, companies should take care of its market positioning. An extremely important aspect are the product descriptions and their presentation. At this stage, it is worth investing, for example, in multimedia presentations of products, which, on the one hand, will show their unique features more accurately, and on the other hand, will ensure a better interaction with the customer.

Thus, the online store also takes on the role of a tool to boost the buyer’s confidence in the purchase process. With the help of the Internet, buyers get a chance to learn more about a particular brand and instantly compare it with other offers available on the market. In addition, the communication between the two parties is easier.

Marketplaces

In the business world, more and more often we hear that marketplaces are the future of ecommerce. Therefore, a large number of companies choose to use this additional sales channel, increasing their chance of reaching wider audiences.

Marketplaces are based on online sales, but, unlike individual online stores, almost everyone can put their goods there. They bring together a wide range of products from various sellers, becoming a valuable link between them and buyers.

This sales channel closely cooperates with individual online stores using the existing infrastructure. The marketplace is responsible for presenting the customer with a detailed offer of virtual stores, and then redirecting them to the site of the chosen retailers. As a result, the entire shopping process is more efficient, improving the overall customer satisfaction.

Depending on the specifics of each marketplace, the presented products and the market segment, sellers are subject to various regulations. There are both free and paid platforms of this kind, and the goods sold on them may be intended for specific industries or mass audiences. The most basic ones resemble bulletin boards.

Advanced marketplaces offer a more structured buying process, where two parties to the transaction must meet certain conditions. They also usually have integrated payment systems or shipment tracking tools. Most of the operations are thus automated, which makes it easier and safer to sell on a large scale.

Listing products on the marketplace is a good solution even if the company already has its own online store as it gives access to a network of new customers. What is more, order processing is a lot easier. Setting up an online marketplace business does not require investing a lot of money.

As a result, it is a good starting point for many companies. The organization and automation of the whole process, low costs, as well as getting rid of the responsibility for logistics makes this sales channel eagerly chosen by startups or companies that do not yet have a sufficiently strong position in the market.

Summary

The demands of today’s customers are constantly growing, and the ability to meet their needs is becoming an essential element to beat the competition. From the very first days on the market, company founders have to live up to the consumer expectations, also when choosing individual sales channels.

Read also: How to launch a product?

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A startup will not be born without an initial business idea, and the more innovative and unique it is, the more likely the company is to succeed quickly. Although a strong vision is one of its key elements, it is not enough to get the business off the ground and launch a new product. Therefore, a well-thought-out strategy becomes necessary, which, taking into account various stages of the startup’s development, helps to efficiently plan the necessary actions and future steps. Read on to find out more.

How to launch a product? – table of contents:

1. Do research
2. Get a bigger picture
3. Promote your product
4. Summary

Do research

The process of launching a new product should begin with a detailed analysis of the target group, potential competitors and the segment where you plan to start your business. Also, you ought to test demand for a particular product or service in advance. This will reduce the risk of investing in the wrong idea.

The main aspect that you need to focus on before launching a product is the target group. As consumer tastes are remarkably diverse, it is impossible to produce a one-size-fits-all product that will provide a satisfactory solution for every customer. Thus, differing preferences have made even the smallest features of specific products important for both customers and manufacturers.

In the face of such diverse consumer expectations, it is crucial to define your target group, whose needs and preferences will become an important determinant influencing the shape of the entire product. A helpful tool in this process is a buyer persona. This method helps to identify your customers’ needs and consumption habits, so that the introduced product, sales channels and marketing strategy can be properly adjusted, increasing the overall buyers’ satisfaction.

The analysis should also provide information about your competitors and their offer. This will let you learn how the practices used by your business rivals affect their customers’ current and future purchasing decisions. If you skillfully use the obtained data, you will have a chance to eliminate activities that are ineffective in a given market segment, and focus on improving those that have so far brought others the greatest benefits.

Get a bigger picture

When getting ready for a new product launch, apart from analyzing your environment, it is important to consider other factors influencing the success of your business idea. Adopting a broader perspective that will allow you to understand the steps leading to the delivery of your offer to customers becomes the key to success.

As a result, the very purchase should not be perceived only as a one-time event, but a complex process where it is important to understand the consumer decision journey. Learning more about the whole buying cycle lets you create a valuable relationship with the buyer.

In addition, taking into account many factors that stimulate the consumers’ behavior allow you to enrich your product and come up with a unique selling proposition (USP). The USP can be identified as a feature that sets your product apart from the competition.

Besides creating the USP, you should also remember to properly communicate your value proposition to customers. This is why companies focused on building their market position quickly strive so hard to make the USP the first product feature that new customers learn about.

Promote your product

After analyzing the market and using the obtained data to refine your new product, the next step is to properly promote your offer and deliver it to your customers. Contemporary market is extremely dynamic, and the companies operating in it become more and more competitive.

The multitude of goods being launched makes it a real challenge to establish a presence in the market. That’s why a well-thought-out marketing strategy that successfully communicates all the advantages of new products and their benefits to potential buyers is such an important element.

Your marketing decisions should be based on prior analysis and drawn conclusions. Defining the needs and desires of your target group in the initial stages of the process will help you choose promotional activities that will win the clients’ hearts and motivate them to make a purchase. The collected information will also let you properly adapt your content and make it even more attractive.

The marketing activities should initially raise consumer awareness. A new company entering the market has yet to get into the buyers’ minds to finally convince them to purchase the released product. Therefore, the entire process of building your brand is so important. It requires proper planning, positioning, as well as creating valuable content and positive brand impressions.

The success of a new product launch also depends on the choice of communication and sales channels. Even the most creative ads, in order to be successful, must first reach the target group. The selection of various channels through which your company’s message will be delivered must then be based on your potential customers’ preferences and consumption habits. The same applies to the sales channels, which in their own right should facilitate the entire buying process and motivate buyers to make a purchase.

Summary

Today’s market realities force entrepreneurs to thoroughly plan launching their products. The process should be preceded by an in-depth analysis of the target group, its preferences and needs. It is also advisable to learn more about your competitors as it will help you make wiser decisions.

You should also remember to choose the right form of contact with your potential customers. Highlighting the USP or taking into account the preferences of your target group when choosing the right communication and sales channels, make it more likely that the new product will be successfully launched.

Read also: How to foster a startup culture?

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After closing the first stages of the company’s development, during which the entrepreneur mainly focuses on building the business from scratch, it is time to present a new brand to the world. Since a startup is usually associated with innovation, the marketing campaign promoting it should also use the potential of unconventional solutions. The contemporary market is constantly flooded with typical ads created using traditional strategies. How to stand out from the crowd and introduce modern promotional tools? Read on to find out more.

How to promote your business? – table of contents:

1. Marketing in the 21st century
2. Dribbble
3. LinkedIn
4. AppSumo
5. Behance
6. Summary

Marketing in the 21st century

Numerous changes taking place in the market have made it necessary to properly adapt individual marketing strategies to prevailing consumer preferences. Rather than aggressively attack potential customers, new forms of advertising focus on attracting their attention and getting them interested in a particular product. More and more campaigns are therefore based on concise messages rich in desirable content.

Introducing such solutions as push advertising, greatly improves communication between a fledgling business and its potential customers. Short and engaging messages displayed in the right places let you avoid problems associated with increasing consumer irritation, which most often results from being surrounded by mismatched ads. In today’s market, therefore, we can see a shift towards content marketing based on more personalized and thoughtful messages.

Striving for success, companies should also use the potential of technology in their campaigns. Marketing automation, apart from facilitating real-time contact with customers, also helps to present offers closely tailored to the recipients’ individual preferences and needs. At the same time, the use of a variety of channels creates an image of the company as conscious and committed to building strong relationships with customers.

Here are some amazing tools that, even with a little effort, help businesses, including startups, to create an effective marketing strategy.

Dribbble

Dribbble can be described as a kind of social network created to meet designers’ needs and help them do their job. This platform gives access to a variety of projects, providing inspiration to users from all over the world. At the same time, Dribbble focuses on building an engaged and well-connected community. Therefore, it is not so easy to become a member.

Full access to the portal is granted only through special invitations from other users, each of whom has a limited number of them. The number of invitations per person depends on the quality of their work and overall activity on their profile. Such a policy results in a high quality of published materials, as only those who have received an official invitation can post their work on the portal.

However, apart from being a source of design inspiration, Dribbble is now becoming an extremely helpful tool for creating a marketing strategy or building a positive image. Works published on the platform become a valuable portfolio for companies, which allows them to reach wider audiences. Collected in one place, the projects create a showcase of the business, especially helping startups that have not yet been recognized in the market.

Dribbble therefore allows you to gain an additional communication channel, helpful not only in building relationships with customers, but also with potential business partners. In addition, thanks to the materials published on the portal, the credibility of the brand increases, which positively affects its reach. A large number of followers becomes an indicator of the quality of offered services.

Dribbble can also be seen as a great sales channel as it facilitates the acquisition of new orders. A skillful presentation of your work can attract interested customers from all over the world, who without much effort, with a few clicks, have a chance to check out what exactly a company offers.

LinkedIn

Another tool that helps strengthen a company’s positive image on a large scale is LinkedIn, a social media platform that continues to gain popularity. Since the site is used by more than 660 million users every day, LinkedIn is beginning to be seen as a valuable communication channel to strengthen brand recognition in the market.

Over the past few years, the portal, founded in 2002, has significantly expanded its reach to now become one of the most recognized social networks for professionals. Analyzing the structure of LinkedIn, it can be concluded that most of its users decide to create an account in order to find a job, establish business contacts or advertise the offered services and products.

As a result, LinkedIn has become a database of more than 19 million company profiles from all over the world. So it’s not surprising that nowadays the portal is more and more frequently used for purely marketing purposes. Business profiles on LinkedIn allow you to successfully advertise the brand. LinkedIn, by promoting various forms of networking between professionals, makes communication much easier.

Thus, the platform serves as a showcase for individual companies. It is there that potential employees, customers or even investors can find relevant information. The shared content and the created network allow you to attract the visitors’ attention from the very first moment. Such a solution is eagerly used by representatives of businesses operating in B2B sectors who introduce LinkedIn into their content marketing strategy. As a result, they acquire new customers without incurring additional costs, which turns out to be particularly important for new brands.

LinkedIn streamlines the process of searching for companies, and thereby promotes building valuable business relationships. What is more, you can get or give endorsements on LinkedIn.

Anyone with an account on the portal can endorse another user on the basis of their skills or achievements. In this way, LinkedIn lets you build networks of professionals with similar interests, helping to identify key talent for individual companies.

AppSumo

The site offers a variety of digital products and services to support companies operating in various market sectors in their development. The rich offer provides access to various types of options, tools, including marketing ones, or programs to streamline all business activities.

Products offered at a lower price become an extremely useful solution, especially for fledgling startups, to which every penny counts. In addition, it is also possible to use a 7-day trial period to check whether a certain product will really meet our expectations.

There are two ways of using AppSumo. On the one hand, companies that produce and sell digital products have a chance to give huge discounts through this site. In this way, they attract new buyers who, when deciding to purchase items at an attractive price, have an opportunity to learn more about the brand. As a result, their positive experience has an influence on expanding a group of regular clients.

AppSumo sends information about available offers to thousands of its users, which instantly increases sales. Users can subscribe to receive notifications about new discounts to their email. This solution helps them keep their ear to the ground as some retailers offer a limited number of discounts that disappear quickly. Therefore, it is important to make a purchase as soon as possible.

However, apart from rather obvious advantages of using this service by companies that specialize in selling digital products, AppSumo also supports organizations on the other side of the transaction in their marketing efforts. Easy access to various digital solutions and programs that are sold at an attractive price, helps businesses from various sectors acquire useful marketing tools.

Behance

Behance is a free platform from Adobe that was created to support creative professionals, helping them generate real profits.

Users of the service create accounts, through which they then share their portfolios with the public. Viewers can browse other works, comment on them or leave likes. In this way, apart from promoting their own work, people with an account on Behance also get a chance to draw valuable inspiration from other artists.

Behance is a helpful tool for all creative businesses. The service helps to aesthetically present all the completed projects, instantly showing potential clients the style of a particular creator. We can say that the platform gives the traditional portfolio a whole new dimension. Behance users create it by combining various forms, such as graphics, text, sounds, video chats and even live broadcasts.

In this way, budding creative startups can stand out in the market by the very form of presenting their work, which positively affects the perception of the entire brand. Outstanding works with the highest number of views and likes go to the “Best of Behance” section, which especially attracts the attention of potential clients or people interested in starting creative collaboration.

It’s also worth mentioning the premium account offered by the platform. Thanks to this option, artists get a chance to share their work and special projects only with subscribers. A monthly fee is set by artists, and a partially restricted access to their best works often builds an intriguing aura of uniqueness around them.

Summary

A constantly changing market forces entrepreneurs to have a flexible approach to business.The new realities have made it clear that the traditional marketing strategies used so far are no longer sufficient. Companies, especially those just entering the dynamic market, should take a broader perspective when building advertising campaigns and use out-of-the-box tools.

Read also: How to foster a startup culture?

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PR specialist in a startup – table of contents:

1. What does a PR specialist do?
2. What skills should a PR specialist have?
3. Summary

What does a PR specialist do?

When defining the responsibilities of a specialist dealing with this business area, it is necessary to first understand the essence of PR. In a general sense, this term can be defined as all the activities undertaken by a given company in order to achieve satisfactory publicity in the market and strengthen its own image, especially in the eyes of potential customers. Public relations can thus be equated with all the efforts that a company, or an externally hired specialized PR agency, puts into strengthening and maintaining a good brand reputation.

Taking into account all the fundamentals of PR strategy, the main responsibilities of a PR specialist include: taking care of the company’s overall image, building relations with the media, organizing events and meetings, as well as creating content and press materials.

Such a person is therefore responsible for developing and effectively implementing an appropriate marketing strategy for a company. What is more, it is the PR specialist who is mainly responsible for building a valuable network of contacts and communicating efficiently with other entities that are crucial to the proper functioning of the business, such as media representatives.

In many cases, the PR specialist also analyzes the target groups in order to choose the appropriate methods of communication. In this way, the content and the very form of its publication can be appropriately tailored to individual customers’ preferences, which at the same time positively affects their perception of the brand as a whole.

What skills should a PR specialist have?

Due to the specifics of this profession, there are several basic skills and personality traits that will greatly facilitate working in this position. A PR specialist should possess strong communication skills, which will make building key business relationships easier. Charismatic and assertive people who are not afraid to speak their mind, establish contacts much more quickly, and are positively perceived by the audience, which is especially useful when running and promoting a business.

When working in public relations, it is important to know exactly what you want to communicate to your audience and how. Therefore, before creating content, it is crucial to get to know the needs and preferences of your target audience. As a result, a successful PR specialist, apart from creative thinking, should also have analytical skills that will help them accurately define potential clients.

However, despite many interactions and group PR projects, it is usually the PR specialist who bears the greatest responsibility. PR specialists are the ones who, on the basis of previous analyses and observations, make key decisions for the company. This is why the ability to handle stress in crisis situations proves to be so important.

A PR specialist must also be highly flexible. In a dynamic market, nothing is really certain, especially for startups that are just developing and learning business realities. Therefore, the best PR specialists always try to be ready for the unexpected. The ability to quickly adapt the implemented strategy to the business environment and changing conditions, allows the company to survive even in the most difficult situations. In addition, being constantly vigilant and responding promptly, gives a chance to reduce the risk of failures or brand image crises.

In such a job it is not enough to have specialized knowledge of a specific field. It becomes much more important to have diverse experience, which will allow you to take a broader perspective when creating the entire PR strategy. It is a great advantage to have extensive marketing knowledge, which is closely connected with public relations. Understanding the potential of particular communication tools or channels, including more modern ones, such as social media, makes it possible to build better interaction and cooperation with customers.

In addition, as people responsible for creating various types of content, PR specialists should have excellent language skills. In this way, we can be sure that the right message will be conveyed to recipients. Linguistic correctness, fluent speech and a play with words become a marketing tool that can attract the customers’ attention, positively influencing the brand image.

Summary

The main goal of PR is to build a good brand image while maintaining positive relations with the public. Every PR specialist must follow these goals, and particular skills can make this much easier. Highly developed communication skills, language skills, comprehensive knowledge, flexibility, creativity, analytical approach and the ability to work in a team have become a kind of requirement for starting a career in PR.

Read also: Video marketing for startups.

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Video marketing – table of contents:

1. What is video marketing?
2. Video marketing and YouTube
3. Summary

What is video marketing?

It is widely known that image content most attracts the customers’ attention. Interesting forms, flashy colors and perfect actors are all a daily reality in the marketing world. However, in times when the average customer is overwhelmed by the number of advertisements, unconventional solutions are becoming more and more effective.

Video ads are a kind of mix of different forms of marketing efforts. The recordings used for this purpose combine content, images and even sounds. In this way, the brand conveys its message, appealing to the buyers’ senses. The message created with this tool facilitates communication with the customer, who becomes an active participant in the entire marketing process. Using comments or the option to leave a like under a given video, buyers can automatically respond to ads, share opinions and impressions.

As a result, through video marketing, startups can also improve their social media presence. The introduction of this type of advertising builds the image of a modern brand, keeping up with the needs of modern society, which continues to increase its expectations from the content and products provided to them.

However, it is important to remember that the published videos should be consistent with the startup’s overall marketing strategy and profile. Depending on the effects the company wants to achieve at a given time, videos can take various forms and influence both the emotions and purchasing decisions of potential customers.

The most popular forms of video marketing include instructional videos, tutorials and videos showing the functioning of a company ‘from the inside’. By introducing such tools, the distance between a brand and its customers is reduced.

The individual steps shown in instructional videos explaining how to use given products and exploit their full potential are an additional incentive that motivates, even initially uninterested consumers, to make a purchase. In many cases, traditional instruction manuals ultimately prove too complicated for customers. The alternative, therefore, are videos, which, instead of conveying only dry content, automatically show the most important steps needed to be performed at each stage.

At the same time, making videos showing daily operations of a particular company, in a way brings it closer to buyers, creating an emotional bond between them. They get a chance to learn more about the brand and its authentic activity. In this way, an entrepreneur is no longer a distant entity running their company somewhere at the other end of the supply chain, but a real person who shares bringing their innovative idea to life with the wider public. As a result, in the eyes of consumers, brand credibility is increased.

Video marketing and YouTube

As the popularity of video marketing grows, so do the various forms of released videos and the channels through which companies around the world can share them with their audiences. YouTube is undoubtedly one of the largest and most recognizable platforms of this kind.

Although it might seem that creating an effective and attention-grabbing advertising video is the most challenging part of video marketing, it is equally important to choose the right communication channel. Overwhelmed by traditional ads, buyers are more open to unconventional solutions that, apart from fulfilling purely advertising functions, will also be entertaining to them. So how can you take advantage of YouTube to promote your own startup?

YouTube is a universal platform, and any company, regardless of its marketing and strategic goals, can find a solution there that will help communicate with buyers. A key advantage of this platform is its enormous reach. Connecting more than a billion users, YouTube helps to get to new customers in an instant.

What is more, the multitude of options offered by YouTube, apart from letting you promote individual products or brands, also facilitates the overall process of shaping a company’s image. YouTube marketing increases the visibility of even fledgling businesses, promoting their activities among new groups of customers. Thus, the portal assumes the role of an additional distribution channel for products and services.

In addition to its clearly entertaining functions, YouTube is now becoming one of the most widely used marketing tools. Thanks to its flexible structure, the advertising strategy can take many forms. By creating an account on YouTube, companies get a chance to publish their videos globally and buy ads that pop up while watching other videos.

Summary

However, a key factor responsible for the success of an advertising strategy is the publication of properly optimized content. Such materials effectively create a unified message that is consistent with a brand’s key objectives. Properly optimized content often goes viral, which helps promote a given business even without entrepreneurs being involved.

Read also: Competitive analysis with strategic group map.

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