What Startup Strategy Should Every Entrepreneur Essay

Introduction What startup strategy should every entrepreneur take? Every entrepreneur in our known history has tried to answer this question by hook or by crook. Trying to find the most innovative business model with the perfect strategy to achieve maximum success, but has anyone found that perfect strategy which will guarantee success? The answer is a resounding NO. There is no such thing as a perfect strategy for every business. Since every startup is totally different, an entrepreneur should not harm himself by wasting time on something that is not maximizing his potential. It is not necessary to work in a garage or in a shack. Still, the basic elements of a business strategy are summed up into two diverse classes as in the following: Class one comprises of all the actions associated with making something new by designing it, acquiring raw materials, creating, and so on. Class two comprises of all the actions associated with selling a new product or service by searching pos sible customers, transacting a sale, delivering the product or the service. A new business model may try or design a new product for an unmet necessity or on an innovative development. It describes the basis of how a business creates, delivers, and captures value. Since every business is different, every market is different as well. Also, every entrepreneur is different. So, every business model is inevitably different. There are at least six key strategies of a business model necessary toShow MoreRelatedMarketing Strategy : A Product Or A Service Prototype Essay1419 Words   |  6 PagesMarketing Strategy Every entrepreneur should work big and fast by prioritizing growth over profitability, dominating the current market before any competitors. As a result, faithful customers and functional profit will naturally emerge. â€Å"If you have a great product, getting in the door may be the hardest part of the battle† (Kawasaki, 2004, pg.49). It is just impossible to walk into any startup without having someone giving it a discussion. The basic marketing plan of raising awareness, to generateRead MoreSuccess And Success : An Analysis Of Startup Business1124 Words   |  5 PagesStartup businesses should consider that a successful business marketing plan has little to do with a gut feeling or a hunch; it is rather based on sound market research. A competitive advantage will be given to any small business that realizes this. This is not however, where entrepreneurs focus there attentions. Even though well done market research is crucial for understanding the competition, most entrep reneur ideas center on entrepreneur business opportunities and creating successful productsRead MoreThe Lean Startup By Eric Ries1237 Words   |  5 PagesThe Lean Startup by Eric Ries deals with properly understanding how to run a startup business at the highest levels of efficiency and launch new products into the market place via development cycle streamlining, hypothesis driven experimentation, and early-adopter feedback . The business strategy model of the same name as the book’s was developed using Ries’s years of experience as an employee, startup advisor, and co-founder of IM messaging service IMVU to create a business strategy that forgoesRead MoreProject Management : A Better Starting Point Than Cave Drawings Of The Wheel Or Pictographs1657 Words   |  7 Pagesand the notion that a multibillion startup idea could be scribbled on the back of a bar napkin has extraordinary appeal. In fact, napkin ideas are part of the evolving nature of pitching startup companies. I find the napkin a better starting point than cave drawings of the wheel or pictographs showing how to herd buffalo over a cliff. From a practical standpoint, let s study how pitching tech ideas has evolved from the napkin to the mixpanel. Pitches, like every other field of endeavor, are changingRead MoreChallenges of New Business Start Ups1541 Words   |  7 Pagesâ€Å"CHALLENGES OF NEW BUSINESS START UP, THE UNTOLD STORIES† In a bid to preview this article, I will share with you my views on what a start up is, common challenges experienced and my untold story. I would however start with this quote by Ajaero Tony Martins a successful entrepreneur and investor: Starting a business is like building a ship and embarking on a voyage, armed with a plan, a map and a team. You will have to sail against storms, unpredictable weather and uncertainty. If your ship sinksRead MoreSearch Engine Optimization ( Seo )1240 Words   |  5 PagesAlthough nothing can compete with having a compelling product or service that’s a true game-changer, there are certain marketing tactics that can make a distinctive difference for entrepreneurs. Search engine optimization (SEO) is equally important for startups as well as established firms. Google GOOGL -0.27%, Bing, and other web searches are often the starting point for consumers seeking information or looking for businesses on the web. According to Vocus, 82% of mobile shoppers use search to influenceRead MoreReport On A Business With Working Full Time948 Words   |  4 PagesChristie Uzebu You want to stand on your feet, kick-start your own business and be that Entrepreneur you ve always dreamed of. You ve probably been told several time that the only way you can succeed as an Entrepreneur is to jump into the business world with both feet. Before you think of quitting that job, consider this: A paper appearing in an issue of the Academy of Management Journal finds that entrepreneurs who start off by working part-time on their new ventures-holding on to their day jobsRead MoreEntrepreneural process1087 Words   |  5 PagesEntrepreneurial Process HCS/567 September 16, 2013 Peter Albright Entrepreneurial Process Entrepreneurs are inclined to pursue a four-step method to realize their goals. The four steps include identifying opportunities, developing a plan, determining the resources needed, and lastly managing the newly developed enterprise (Hirsh, Peters, Sheppard, 2005). A well-defined grasp of the risk-taking progression is very significant in knowing the steps of a company officer or measuringRead Moretale of lynx999 Words   |  4 Pagesfollows: Going to Business School or not? He always wanted to be an Entrepreneur He knew that a new business is a risk So he wanted to make sure that if business does not work, he should be able to be back to Business School Therefore he did first semester It was a good decision as he was trying to play safe and he knew what he was doing to himself Partnering with Doug Curtis or Not? Doug Curtis was a Veteran Entrepreneur Having worked with Doug on past ventures, James was aware of him andRead MoreAn Entrepreneur s Roadmap By Joseph Picken1079 Words   |  5 PagesRoadmap,† by Joseph Picken, he outlines entrepreneur characteristics, specific obstacle’s most experiences and mainly how he got to where he is. Out of eight specific hurdles, the first one is setting direction and maintaining focus. The first step entrepreneurs have to undertake is launching their startup. However, before doing that they need to have a clear understanding of their goal and establish an exact direction. Which includes, who they are targeting, what are they offering, value proposition