14
Jul

3 Technology Business Startup Opportunities

I love tech businesses. San Fran and the digital tech revolution seriously has me excited. But at the same time I’m also a business owner so I want to look for how these advancements will help my business or if I can make a new income stream out of them. Today I’m going to talk about 3 tech advances that will not only help businesses but can also be businesses in themselves providing you have the correct mindset and enough capital to get started!

Tesla 1.) Tesla + Uber

Uber if you don’t know is one of the fastest growing “taxi companies” in the world. The difference is instead of calling up a taxi firm and waiting, you can track where your potential driver is and request them. There is no cash exchanged and the only feedback is the driver rates the customers and vis versa. You are then charged a certain amount to your card, which in most cases is less than you would pay for a taxi of the same distance. Taking this one step further is where I really like this business model.

Tesla is Elon Musk’s electric car company that is future proofing the auto industry. Bringing this together with Uber means you can become an Uber driver, whilst at the same time owning and driving an electric car. But there is more. Once you have purchased the Tesla, the running costs are seriously lower than on a normal petrol or diesel engine, hence meaning you will be generating more profit per ride than people with a petrol car.

Agriculture2.) Agriculture

When it comes to agriculture 2 things are going to happen in the next 50 years. The first is technology will take over the production and maintenance of crops, making yields higher and the end profit also higher as the pesticides and chemicals will only be used on crops that are being affected and will not be used on the entire field or crop. Secondly instead of being grown on large fields outside cities, these will be grown inside the cities themselves. In tall skyscrapers where each floor is a large growth plate with its own individual climate and temperate. Then the next floor may grow something different and so on. This reduces the need for soil, and these can just be grown in water with the chemicals needed for plants, aka magnesium, calcium ect.

Drones3.) Drones

Drones or quadcopters are a relatively new product to the mainstream market. Pictured right is a drone that costs a little over $100, and comes with a camera attached. There are hundreds of models and you can get HD stabled drones or just a quick racing drone depending on the need. The business model I like with drones is the transportation of high end items. For example transporting lightweight materials across a city in rush-hour for example.

You can even set up a website promoting or reviewing drones, similar to the Chose a quadcopter brand. They review all new drones and quadcopters that come to the market and post independent, unbiased detailed scores on which you sohuld buy. From the budget models all the way up to commercial drones.

28
Jun

How to Generate Market Research for Businesses

Research ImageIf you are a person with a number of business , you are always concerned about your market. How your market reacts to your service and market. With the other competitors surrounding , you would then think of how your market would behave around your product or service and for sure they will be affected about the competitor. There is a chance that these clients will try to search for new things.  Finding out what other companies and how the market reacts to it is what you call doing a market research.

Doing a market research is a good thing especially if you are still starting your business. Doing marketing research helps you identify the positive and negative outcomes and the attitudes of the market. When you are generating market research for your business you are gathering data’s about your own market and your competitors. When you are doing this it can help you at the same time with your company’s business plan.  It lets you see the current status of your business and this could be the right time for a new change. So how do you generate market research for your business? Here are top 5 ways on how to generate it.

Intro to market research

  1. Doing market research may mean more than doing online research. You can always go to other businesses and ask how their status in business is going and how they are going well. In this way you will see how others operate and how they exists in the eyes of the clients.
  2. You can always ask their clients and know how they can differ from your own business. You can also witness how your competitors behave in the market and how they serve their customers well.
  1. You can do more than having research online by having telephone interview or survey, doing a market survey from one business to the other. You can always do market research through different types of surveys. You can do personal survey through telephone or chat.
  2. Having observation to your market and your competitors is another good way to generate market research for your own business. You can always then compare as to how things are different.
  3. The best way on how to know other products and services business is to pose as one of their clients. In this way you can do market research for your business.
  4. Do know the type of market you would like to do a research and from there you can already build your questions as to what they prefer in their generation and their age.

If you are having a hard time starting your market research you can always do the old school of market research, as this is effective. Do also know how to stay in the modern generation and find a lot of online market research ideas with your social networking accounts. This is already the new age and that you need to do this already. Be unique and take the challenge.

12
Jun

Marketing Research Data Collection Methods

This post is going to be a bit more technical than usual, we are going to talk about the data research collection methods and more about the difference between primary and secondary source data.

The difference between Primary And Secondary Data

If you have ever seen really poor stats and think “this can’t be right” its likely to have been secondary data. This is data that can be produced from comparing one set of “irrelevant data” across into a modern concept. For example if I believed the earth was flat, I could use today’s technology to help my hypothesis. Anyway, the video below can describe it a lot better than I can for you! Let me know what you think of the video, I really like these guys on Youtube too, so go and subscribe and like this video as well!

Using A Business Example

If we take a business I am heavily involved in (the blue chip car hire company) we can see how they use primary and secondary data. I really love how they implement this into their marketing and pricing too.

At first they didn’t do any data collection or research at all, which is part of the reason why they brought me in, so this is what we implemented. And its pretty much split between secondary and primary data.

Secondary Data

We wanted to get an idea of what people THOUGHT it would cost to hire a supercar for a day and a weekend. This is for anyone. So for example people who couldn’t afford it, people who didn’t ever have the need to do it, as well as individuals who might purchase on in the future. This was purely research and it cost us about £500 to get £500 responses, which is pretty cheap when it comes to market research and data collection. We found that people thought it was in fact cheaper than the prices we had, which is pretty much what we expected would happen.

Primary Data

We asked customers who had already seen prices what they thought it had been worth. This is people that already paid for thc car. And suprising they said they would have paid more for the ease of service. Now this is stone cold awesome primary data because these are customers giving a.) Reviews – Positive most of the time and b.) Feedback about the business, which allows us to integrate different pricing models during busy periods of time.

5
Jun

Marketing Companies – Who Can You Really Trust?

online-marketingIt seems like everyone and their granny has been setting up an online marketing company of some sort in the last decade. In fact online marketing according to Entrepreneur.com was one of the top 3 fastest growing industries from 2005-2016. This means that we live in the age of anyone can contact you for anything. If you have a phone number or email on your website, congratulations, you are now one of the many people who have given away personal data for free! – But that isn’t our primary concern, the reason I decided to write this post is because 1.) We haven’t done a definitive guide in a long time, but the second reason is that when it comes to marketing companies and more specifically the digital marketing industry, who can you really trust?!

Trusted ImageWho Can You Trust?

Well I’ll first start with who you shouldn’t trust. And these are the individuals who constantly bombard you with spammy emails offering you $99 (even though you live in the UK) web design or SEO services. These people are so frustrating and like me you probably receive these on the daily!

Now I have nothing against outreach, but when it is mass and generic outreach with zero thought, then I’m not interested. If its personalised and you know about my needs and my businesses then sure I’ll give you a try.

The 3 metrics I look for when it comes to trust. Is 1.) Age of domain – If the site has only been registered in the last 5-6 months then this says they haven’t been around for a long time. 2.) Testimonials – Do they have real testimonials on their website and are these accurate and relevant. 3.) Results – Case studies showing the results for your client.

OptionsThe Selection Process

This is the selection process I’ve developed over the past few months for selecting a reputable online marketing (or any Business 2 Business provider actually.)

Step 1: Using Google, search for the business type you need. If you live in a big city then add the locational parameters. So for example if you were looking for a builder, you should type in “Builder in XYZ location”

Step 2: Click one of the top 3 results – Why? Because these individuals have clearly worked on their website, invested money into them and as a result have a more professional business. Generally (not always though) a website’s quality is a reflection of the business’s quality.

Step 3: Once you have your 3-4 options then its time to check the sites, just double check when the business was started and if they have testimonials on the site that look real (fake reviews are easy to spot.)

Step 4: Proposals & Prices – AKA just get a quote from each. The individual who takes care in creating their proposal is probably the one that is most likely to provide the best service. Once you have all your proposals and prices its up to you to make a decision on the company you want to work with. Chances are these proposals will be around the same price. But remember, with online marketing its not a 1 service is the same style business. So you will likely get a range of prices from different agencies, instead remember to evaluate each proposal individually. And also remember:

Being Cheap is often more expensive.

How Do I Know it Works?

HowPersonally I used this strategy to hire a online marketing agency who I still use to this day, they helped design the blog and the owner is a really nice guy. The way I found the site is through the process outlined above, and although this worked for me to find a good company, it doesn’t 100% mean it will work for you, remember to reach out to the individuals they have used in their testimonials.

I’ve used this to find a number of other businesses too, from catering to car hire! This works because it shows businesses that have some reputation to uphold, they have put some effort into making their sites look good. Smart business people generally know that the most important thing is the actual product or service they are delivering, this means if they have already put some effort into their website, think how much effort they are going to put into your business!

Cheers for the read, I hope you enjoyed, if you have any questions feel free to contact us and remember to share.

1
Apr

How to Correctly Research Purchasing a Car

Most people get this so wrong its painful. What we are going to run through today are the buying decisions you should make when you are thinking of buying a car (supercar) or a bike or superbike. Cars are like all other things, they are expensive but they serve a purpose.

Below are 3 tips I highly recommend when it comes to expensive car buying.

SupercarHireUk

Let’s be honest, can you afford this?…. Probably Not

What can you afford?

Realistically this is a question that all people should ask themselves before going into a car dealership. But do they ever do it? F no! They have a ball park figure which is usually blown out of the water when you see something you really want. Instead have 50% of your car in your bank (more on that below) this way you know that if you spend more you can get into real trouble!

Tip: Shop around. This not only helps you get a better price for the same car but you also have a more clear mind when you haven’t been talking to the same sales rep for an hour!

Debt isn’t the same as credit.

So what do I mean by this? Well Debt isn’t the same thing as credit. Most people think that both debt and credit are a bad thing and they couldn’t be more wrong. Debt is bad. Credit is good, credit allows people to buy expensive things by taking additional money from their “future selves.” When this mounts up too high though, people need to reduce their debt before getting more credit, but that’s not exactly how it works usually.

When this comes to car buying the key is to avoid taking out a loan bigger than 50% of the car’s value. This is the easiest and most straight forward way to ensure you never get into any issues with the debtor. This way even if you do have a few tough knocks then you can simply sell the car for around 60% and pay back the entire debt, ensuring no negative connotations.

Lose the Ego

If you are looking to just impress your friends don’t lay out 100,000s on purchasing the brand new Ferrari, instead just hire a Ferrari for a few days, or even better? Don’t be so freckin vain! But if you do decide to go down the rental route then the prices you’ll be looking at are below (image form ferrarihire.co.uk)

Ferrari Hire Prices

As you can see your ego can be a very expensive thing! Instead of this I recommend just biting the bullet and using some of the tips we outlined above when it comes to purchasing decisions. Remember that as soon as you buy a supercar it loses about 25% of its value instantly….. There’s asset depreciation and then there are car sales! Unlike a house this will never go up in value (unless it becomes an antique) and as a result you should always be extremely careful where and how much you pay for any car you buy.

Thanks for reading, have a good one.