September 3, 2014

Booming App Industry Lures Entrepreneurs: Not All Are Successful

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There are many kinds of businesses out there, and despite the glamor of some industries, none guarantee success. Take the multi-million dollar app industry, attracting so many entrepreneurs. While there are big success stories in a business that can literally be run from a spare guest room or kitchen table, many of these entrepreneurs are also struggling to make a living. No matter what your business model, some basic principles apply when successfully marketing a product or service. Check out the entrepreneurs creating apps for iPads and iPhones, then move on for some tips on how to make your business successful, no matter what the budget.

How to Get Started

Apply yourself. You may be surprised by statistics from the growing app industry to which many entrepreneurs are flocking. Wild success stories of fortunes being made creating the next best selling mobile tool make the market seem appealing. App software engineers now outnumber farmers, and are closing in on lawyers in terms of sheer numbers. But for every story of millions made there are many who can barely make ends meet. No matter what industry you enter as an entrepreneur, you must have the resources and strategy to become a success. Don’t be fooled by stories of easy riches. The New York Times

Four tips for success. If you’re still determined to break into the app industry despite the challenges spelled out in the previous post, consider some simple advice first. Here are four tips to heed specifically geared toward launching a successful mobile startup. These tips will help you lead your company from great idea to great profitability and keep you on course in the process. Rahul Varshneya

Plan for Success

Always have new growth models. No matter what industry you enter, growth is always a challenge. This is especially the case if you focus on selling only one product or service, as many startups do. Fortunately, there are other growth models your startup can use to supplement this basic “organic” growth. Take a look at some of the examples shared by startup expert Martin Zwilling. Your market may allow additional growth models to help expand your business more quickly. Startup Professionals Musings

Be creative when marketing. One thing many small businesses don’t have when they start out is a big marketing budget. This can especially be true in the app industry where some companies may have started quite small with a single entrepreneur or a couple of partners. This is where creativity comes in. There are lots of ways to spread the word about a new product or service, and depending on the audience you are trying to target, not much expense. UPrinting

Have a plan. As obvious as this may seem, adopting a marketing strategy can be a huge advantage for your business as you try to get attention for your products and services. Experimental marketing to find your ideal audience is all very well, but it helps to have a battle plan going in, writes marketing expert Susan Oakes in a recent post. This strategy will give your marketing efforts direction and help you make the tough decisions rather than stumble around in the dark. M4B Marketing

Grow Your Business

Hire for growth. After all, what else would you be hiring for? Business consultant Mark Zarr has some thoughts about why any business should hire, and the number one reason is always pretty much the same. Hire to grow your business, not just to manage the status quo or to clean up the mess a previous employee made. Hiring more staff will be a cost, so it’s reasonable to consider the payoff before moving forward, and that payoff should be a bigger, more successful business. Common Sense Development

Ignore the myths. Some basic marketing and sales myths can put you at a disadvantage when competing against other businesses for customers, says business consultant Michael Trow. When marketing or selling any product or service, you’ll want to focus on bringing in customers and cash flow effectively almost from the beginning. Ignoring the myths and misinformation that revolve around the marketing and sales process will be a huge help, especially if marketing and sales don’t happen to be your forte. Small Business Centr

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