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.

24
Oct

How to Research for a Business Premise (Stop Working From A Garage)

Getting your first premise as a business can be a very stressful and often time consuming process with the number of both legal, personal and financial restrictions, its no wonder that many people have to go to co-working places and a number of virtual offices, when all they actually do is work from home. The below guide is a small list of things to remember we put together for the business owner whose not sure if they should move into a serviced office, virtual office or just still work from home. A side-note: If you are working from home but find your earnings growing quickly you should consider an office or factory, this will help you disconnect between work and play, it will also help reduce stress too! This is what my problem was when I first started working from home! People think it will reduce stress but it actually increase it.

The first time business property tips – (Stop Working From A Garage)

business locationLocation?

The first thing you should consider when looking at business premise is the property. Do you really need a business location near your house or would it be better in the City? If you are a business to consumer business then I’d recommend getting a premise with a great location in a busy central location. If you are a business to business seller then think it might be cheaper to set up shop outside of the city and actually get a nicer office than going into a small place in the city? All these things should be considered.

business sizeSize?

Size of a business depends on where and what you should get as your business premises. If you are a shop that sells goods to individuals then generally the bigger the better in relation to price. But if you are a business that is based on a service to the consumer or business you are serving (aka your client) and this service occurs at their location or in the cloud (wifi/internet based) then there is no need for size to be a factor or a limited issue with your business.

What you need?

For example if you need a lot of shelving and racking then you will need an area both high and wide enough to put the heavy duty stuff inside your premise. If you don’t work in this style of environment then you won’t need as much but you will need other storage solutions that make sense for your location. We found that we needed so much racking and storage when we first started that it was actually killing us. We moved out of a house and garage where we started, and didn’t realise how much of the house and garage was committed to the business. Hence this lead to getting a location that was probably in hindsight, too small! Don’t make the same mistake.

12
Aug

How To Research A Business Idea

Doing a Market Research for your Business

Doing a market research is a way for you to find out how much market is available for your product or service. It is essential for understanding that market you are competing in, finding your unique selling point and knowing who will be buying your products. When you find your USP or unique selling point, you will be able to set yourself apart from your competitors and your USP is something that you should highlight when you are doing your advertising.

The most important thing you need to know is determining your tarIntro to market researchget market and potential customers. Finding the right market is important so that you will know if you will be able to sell the service or product that you offer. You can start by asking any existing customers about their opinions. The type of customers that you will get will depend on the services or products that you offer. Once you have identified your market, you can proceed with your market research. You can also visit local business forums and see what happens there to get an idea.

It is important that you get the right kind of information from old customers that you have and from the new customers. You should find out if they will buy what you will be offering. Pinpoint any concerns that they may have like the quality of your product or how you will do against your competitors. It is important that you also investigate your pricing. You should consider your costs and how much your competitors are offering for the same product or service. Get feedback from any potential customers about the price they are willing to pay for what you will be offering. Knowing what they think about your competitors is also important and if there would be anything that you could do just as well or maybe even better than your competitor. Once you have your business up and running, you can ask customers why they prefer your business over those of the competitors. You can also gauge how they feel about the pricing of the competitor.

Learning more about your competition is also very important. You can know more about them by looking into their market reports or any other published information that they have. Among the details that you would be able to get would be their turnover, sales pattern and profit. You can check libraries, trade publications and associations and the local chamber of commerce for these reports. You could also opt to directly go to your competitor. You can ask what they offer and check out their advertising too. Whatever information that you get can be used to develop a business that will challenge your competitor in terms of quality, service and pricing.

Two other ways to know more about the market, customer and competitor are:

  1. Create focus groups.

Gather small groups of people to give you feedback on your product after trying it out.

  1. Use questionnaires. It is preferable to have your questions answered by either a choice of answers or a scale rating. It could be useful to have questions asking for opinions.

Market reports and trend analysis will give you an idea about the market you will be entering, the competitors and if there are trends that you should be aware of. Your research will also depend on the finances that you have, the product or service that you are offering and the market you are in. So before you start up that business, do your research first!

Thanks for reading :).

3
Jun

How to Perform Marketing Services for Local Businesses

Marketing is bigger than sales, marketing is business, but yet so many small businesses especially think they can be profitable just from setting up! And its crazy to think that 1 grant from the government can support your entire business. It’s just not the case. Below is a local seo video by Tom Buckland – Whose a freelance seo consultant and an expert in the marketing for small businesses niche.

13
Jan

Research for Start Up Businesses in the UK

Half of all small businesses fail within the first 3 years of setting up a business. Many more don’t make a profit when they do trade for over 5 years and 90% of small businesses in the UK make less than £40,000 per year profit.

These figures are extremely scary but they can be avoided with some simple research and basic planning. Starting a small business requires more than just working on the financials for a campaign. Instead you need to plan EVERYTHING. Do not overdo any expectations and always stay proactive.

There are 2 aspects to business “work” and time spent in general. These are reactive and proactive. If a business is very reactive, they are doing admin, packing orders, answering emails, providing the service and doing everything that is expected for the business. A proactive task or activity is something that has not already been done that might help with the acquisition of clients and generating more profit.

For example a digital marketing strategy is a proactive task, this can be anything from making a infographic and promoting it online, all the way to cold calling, which is a proactive task. Answering emails and receiving calls is a reactive task. If your business is more than 90% reactive, you are highly unlikely to grow and chances are you are stuck in the old business model, where you are simply doing enough to “get by”.

Important Research Sources:

1.) An unusual one but the article by ghost marketing on climb online which talks about the errors the winner of the apprentice made, and he still one! This is a rant take on marketing and what he did wrong from an online point of view. Even if you own a brick and mortar business, read this article!

2.) Course research – Research the number of courses available in this niche, for example Lincoln, city.ac.uk and many many more, get your research done here, even take a course if you are really serious about learning the ropes.

3.) HMRC and .gov – The government (believe it or not) is actually trying to help startup businesses succeed, Cameron and alike are introducing new laws that make it easier for people to set up businesses. More on this here.

4.) Marketing – This is the most proactive task of all, that 65% of small start ups fail with. You can no longer have a business and simply “hope” people will walk through the door and buy what you are offering. Most people don’t even know you exist. Help them out by marketing you business. Good link on marketing 101 by a yank.

5.) Local – Check your local grants and subsidies for start up businesses, mine is Wales, and there are many offers and subsidies that help businesses in Wales and the UK. Find yours by Googling and read up on the key information you need to know.

I hope you enjoyed reading this article.

Thanks.