7 Growth Hacking Ideas that will Boost your Startup

Published on: 08 January 2019 Last Updated on: 08 August 2019

Everyone is always looking for new and fresh ideas in business to develop solutions for problems or to address a market need. Ideas that have never been thought possible before are the seeds that plant startup companies. Startups are usually small and financed by one or a handful of individuals. The risks are high but when startups succeed, they succeed exponentially and some ultimately become unicorns. Some unicorns you may be familiar with which are valued at over $1 billion dollars are Uber, Xiaomi, and Airbnb. Today’s business landscape is encouraging enterprising people to establish their own startups since communications and technology are advanced enough for people to bring their ideas not only locally but worldwide. To grow your startup quickly and gain millions of customers to increase sales and revenue you should follow some startup growth hacking ideas.

1. Offer something for free:

When you offer something for free, demand for it quickly increases. It is a proven human instinct that people will snatch up anything that’s on discount more so anything that is free. When people take the free products and services you advertise and introduce it to a wider audience, you set the stage for your products and services to be part of people’s lives and sooner they develop a familiarity with it or even a dependence on it. The effects of offering something for free is very powerful and has an instant effect on your business: you build your user base much more quickly and speed up customer acquisition. You can actually build revenue when you offer something for free by offering upgrades to products and services at a cost.

2. Increase funds to expand your business:

If you believe in your products enough, you can get like-minded people to invest in it through crowdfunding. Crowdfunding helps you interact with people who already have similar ideas and it gives you better knowledge if your products and services will generate interest.

Crowdfunding sites such as Kickstarter have raised $220 million dollars from 61,000 launched products. Prepare to make a video pitch of your product, what makes it valuable or useful, and why you need support.

You can go the traditional route and apply for a loan in a bank or a choose fast and convenient online cash advance. For a startup you may qualify for a small business loan, however, you may need to meet some financial requirements to qualify depending on your bank or lender. Typically, they will look into your credit score, annual business revenue, and the number of years you have been in business.

3. Work hard:

If you believe in your vision you must work hard to make your startup a success. You have to commit and regularly review your business plans and be constantly diligent and passionate about your business. Do your research to refine your products and services to make it more competitive. Take care of your colleagues and employees since they will have a large role in your success.

4. Feedback matters:

Feedback matters in a startup to create a culture of openness and awareness. Feedback helps your team or employees know what behaviors to change so they will always be in their topnotch performance. Concurrent with that, feedback from your customers is gold. Knowing how your market reacts to your products and services gives you leverage in adjusting, modifying or continuing with the products and services you have already established.

5. Leverage the distribution channels:

Consider the different distribution channels you want to use and make sure to devise a strategy to maximize profits in that channel. Do not confine yourself to one distribution channel because it may impede growth and scalability. Go for multiple channels to increase the possibility of getting more sales. Do not allow one channel to grow out of control at the same time do not restrict it since this will reduce market access. You should follow the best strategy that will work for your company in each channel.

6. Launch a program to reward loyal customers:

You can give gifts to your loyal customers such as pens and giveaways that have your company’s logo on it or you can give away some of your services and products for free at a given time of the year such as holidays. Regularly giving gifts to your customers will increase brand awareness and loyalty. Your customers can give you leads, giving you more reach and visibility.

7. Marketing:

Marketing can help boost your startup immensely. One viable way to start your marketing campaign is referrals through friends, family, and influencers since they convert leads much faster. You can also opt for partnering with a bigger brand for projects where you can mutually benefit.

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7 Startup Ideas for Young Entrepreneurs

Everyone wishes to start their own business. But they may face many difficulties like not having enough capital to invest, lack of research ideas, and so on. Some points should be taken into consideration while starting up a business; For starting up a business one needs to invest their time and money. Entrepreneurs with excellent research skills develop great marketing strategies. At the same time, if an entrepreneur has a unique business idea, Private Limited Company Registration can be useful to gain more benefits from the Government. While starting up a business one should know the demand of the consumer and act upon it. Every startup requires a proper business plan with a vision, mission statement, and a set objective. Next, an important point which an entrepreneur must take into consideration is whether his business must conduct online or offline; if offline then will it be an office-based or home-based business. It is all dependent on the product or services which has offered. No one can reach a successful path without crossing the hurdles. And there are still many young entrepreneurs who struggle to build a successful business. So, for those young entrepreneurs, here is this article that will help you out in deciding the best startup ideas: 1. Online Freelancing Idea Online freelancing includes content writing and data entry. For content writing, entrepreneurs need excellent communication skills. Firms hire people for content writing. This business is purely online based. Many companies need people to write content for them. The organization outsources these services. Entrepreneurs need to be good in their language and thinking power. Those skills can help them to start their online freelancing services. Here the entrepreneurs need no investment. Their income entirely depends on the organization's goodwill and the number of services provided by them. 2. YouTube Channel After Google, Youtube is the second largest search engine. Youtube is a platform for innovative and creative individuals. Many people create exciting videos and post them on youtube and make millions of money. Also, YouTube helps to get fame. This business idea is like a low investment and high returns. The advantage for the user is - YouTube is an independent platform where a user can create his channel and upload their video for free. There is no restriction about the video topic. YouTube also pays money for famous YouTubers. 3. Hand-Made Creative Jewelry Idea Nowadays, youngsters both male and female are doing this business. You need the skills to make this jewelry art. The primary material for making this jewelry is available both online and offline store at a cheaper cost. The demand for customized and handmade designs is very high among youngsters. This creative jewelry can sell through an online platform where there is more scope of sale and can also sell offline to friends, families, and relatives. Price of the product is dependent on the design of the jewelry. 4. Event management Those entrepreneurs who want to start up their business as Event organizers can start with small events like a birthday party or companies meetings. In this type of business, the event organizer requires workforce and other related services on a temporary basis. Event management coupled with creative and innovative thinking is a bonus. Contacts of suppliers and vendors act as the most significant support system. Here the goodwill matters a lot. The event organizer gets orders only through his past event management. These are relatively expensive business ideas the return of income is highly good. 5. Food Delivery Service Idea Food Delivery Service Idea is a growing and popular business idea where the profit is very high compared to any other services. In this busy world working professionals hardly get time to cook food. The customer tends to get attracted to those types of business services where it makes their routine work quick and simple. This business Idea is highly in demand. In this type of business, the investment is quite high at the same time, the return of income is moderate. One also needs human resources to deliver the cooked food to the consumer. You can start small by personally delivering orders within your local area and using a routing app to get routes ideal for multiple stops. 6. Bakery business Bakery businesses need high skills. Even an entrepreneur can start a bakery business by appointing an expert. Though a brand plays a vital role in people's minds in bakery business customers, usually prefer homemade bakery cookies, pastries, and cakes. In this business idea, investment depends on the size of the business. Nowadays, online bakery selling is also booming. You need a few contacts and marketing strategies to showcase yourself as unique from others. Social media helps in advertising your product. 7. Coaching class This is a services-based business where the return of income is very high. This business is a home-based business idea. Where entrepreneurs need to be expert in the subject which he or she is going to teach students. School teachers or college professors can also start this business for extra income. And the person who is illiterate can even start this business by appointing professionals to teach the students. Here the investment is a little higher. Conclusion Afleo has come with the best startup business ideas for young entrepreneurs. Any plan to succeed takes time. The same applies to startups. Hope this article helped you out to choose your business idea. Cheerful Reading! Read Also : Six Low-Investment Business Ideas You Can Start Today Make Your Business Popular Online

Useful Marketing Tips for Startups

Startups need to use different marketing methods compared to established businesses. The reason for this is simple – startups have a very limited budget and less experience compared to established companies. It is crucial to be aware that, if your marketing is done right, it can have an incredibly positive impact on the success of your business, and its net income. However, if you do it wrong, it may feel as if you are throwing money away. If you want to be successful and profitable, you need to use the right methods of advertising. Don’t copy established businesses as you are surely not able to do all the things that they do. Instead, you should try certain marketing methods that are perfect for small companies with limited budget and experience. These methods will help you increase sales, profits, and avoid wasting money. Different Marketing Tips Startups Must Consider At Their End There are multiple marketing tips startups can consider as their end while developing their business in the right direction. Try to Think Outside the Box: You need to keep in mind that the business field is changing rapidly. The marketing landscape has changed dramatically over the years, especially compared to the time before the internet. If they want to be successful, startups need to combine traditional marketing methods with online advertising. When advertising products and services that you offer, you need to be original and think outside the box. It is crucial to come up with unique and innovative solutions that will be both effective and creative. Whatever you do, you should make sure that it is original, instead of just trying to copy what was already done numerous times before. Provide Useful Information about Your Products: Of course, your products are amazing in your eyes. However, it doesn’t mean that everyone else is delighted by them, and is just waiting to hear about them. You need to be aware that people are not rushing to buy the products that you offer, and if you want to change this, you need to advertise them properly. You shouldn’t push anyone to try them. Instead, it is a wise idea to provide information and tips that people will find useful. If you want to be successful, you should use visuals including images and videos. People will look forward to trying your products if they consider them interesting and useful. Use Powerful Business Signage: Another thing that can improve your success and increase sales and profits is exciting and quality business signage. Many people pay attention to signs and are more likely to buy products that a particular company offers if they notice interesting signs in front of it. You need to keep in mind that many people pass by your business on a regular basis, and all of them are potential customers. However, a significant percentage of these people won’t be aware of your existence if you don’t attract their attention with custom business signs. You should use eye-catching signage if you want to increase your customer base and turn them into loyal clients. Something like this will have a huge positive impact on the success of your startup. Read Also: 7 Startup Ideas For Young Entrepreneurs 5 Marketing Tips To Help Grow Your Business On Instagram

6 Steps to Starting a Business in Michigan

You’re finally ready to take that plunge, and the great state of Michigan is an ideal place to open a new business. Whether you’re setting up a shop in a quaint small town like Frankenmuth or a thriving metropolis like Detroit, you should take some critical steps to give your business the best chance of success. Every business is different, and no business owner will have the same path to opening day. However, there are a few critical steps that every new enterprise must take to cover their bases and protect their investment, including: 1. Finalize a Concept: Before you invest in opening a business, you need to know your concept, goal, and customer base. This includes how you’ll market yourself, how you’ll distribute your product and provide your services, and how you plan to grow and build on your success. Before you open your doors, know your industry and your place in the market and address all important considerations to ensure you don’t have to course-correct. Having a solid business plan can save you a lot of money, especially when developing your branding and dealing with third parties to design your logos and advertising. 2. Register Your Business: Before you can legally open your doors, you need everything to be in order with the government—both federally and locally. You must pay taxes, so make sure to get online IRS EIN Tax ID. You must pay taxes, so make sure you file with the IRS for a Federal Employee Identification Number. This helps formally identify a business in the eyes of the law. Michigan has one of the more detailed and structured business registration laws in the U.S., so make sure you apply for any necessary licenses and permits before you open your doors. This could avoid costly fines and shutdowns later. It’s common for many businesses to need multiple permits, with specific commercial and industrial activities warranting independent certification. 3. Open a Bank Account: You may have a personal bank account, but this isn't the account you want to run your business out of. A business should have an independent bank account for several reasons, including greater liability protection for your personal assets and purchase protection for your customers. It also comes in handy during tax season when you need to identify business expenses. Business accounts can accept credit card payments more efficiently and allow more opportunities for funding. Setting up a business account with a bank will give you access to a line of credit that can be useful if unexpected costs crop up or you need to make a significant up-front investment to get your business started. 4. Obtain Proper Insurance: This is possibly the most critical step in setting your business up for success. Even if you do everything right, an unexpected disaster could put your business in a tight spot, and insurance gives you a safety net. You should look into property insurance and insurance on any valuable asset you have in the business. However, there’s one type of insurance that’s not only essential—it’s mandatory. Michigan workers' compensation laws require any business with three or more full-time employees or with one or more people for at least 35 hours a week to have workers' compensation insurance. This insurance covers costs if an employee gets injured in the course of the job. This protects the employee and covers you as, in most cases, an employee gives up the right to sue when accepting workers' compensation funds. 5. Hire a Strong Team: A business is only as good as its employees. While many small businesses start with a shoestring team of their owner and maybe their family or some close friends, hiring your first batch of employees is a critical step. You should be able to trust these people with the fate of your business, so make sure to interview and vet each new hire carefully. Ideal characteristics to look for include the ability to think on their feet, a history of commitment, and good people skills. Not every prospective employee has the experience you need for your business, so it's ideal to have specific skills training plans. This also ensures everyone is on the same page when they first start. 6. Spread the News: You’re almost ready to launch, but a business is only off to a good start when people know about it. This is especially important for a startup, and it’s better to spend smart on marketing than to spend big. This means knowing your customer base and knowing how to appeal to them. Targeted advertising, both online and brick-and-mortar, is more effective than mass advertising. Even if you’re operating on a budget, don’t be afraid to start by offering promotions to allow people to sample your product or service for a lower price. This can be a great way to build long-lasting loyalty once they get a taste. A Good Start Pays Dividends: A business’ success or failure is often determined before they open their doors. These tips will protect your investment and increase your brand awareness. If you cover all your bases, you’ll have the tools you need to secure your spot in the market. Read Also: Start-up Business Management: How to Reduce Risk and Guarantee Success Why Virtual Offices Are The Future Of Business Business Pieces of Advice: Stepping Stones for a Startup Owner

7 Growth Hacking Ideas that will Boost your Startup

1. Offer something for free:

2. Increase funds to expand your business:

3. Work hard:

4. Feedback matters:

5. Leverage the distribution channels:

6. Launch a program to reward loyal customers:

7. Marketing:

How to Attract the Best Talents for Your Startup

Six Tips for Crowdfunding Success

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Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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Related

7 Startup Ideas for Young Entrepreneurs

Useful Marketing Tips for Startups

6 Steps to Starting a Business in Michigan

7 Growth Hacking Ideas that will Boost your Startup

1. Offer something for free:

2. Increase funds to expand your business:

3. Work hard:

4. Feedback matters:

5. Leverage the distribution channels:

6. Launch a program to reward loyal customers:

7. Marketing:

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How to Attract the Best Talents for Your Startup

Six Tips for Crowdfunding Success

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

Leave a Reply

Popular

Follow Us

Recent

Related