My Family Finances

  • About The Author
  • Contact
  • Blogs I Read
  • Policies and Disclaimers
  • Family Money Answers

How Start Ups Can Play With Big Business

09/15/2018 by John Leave a Comment

As a start up, you’re in a different position to traditional, more corporate businesses. You have the laser like focus and flexibility to get your unique idea to the market, you have access to sometimes staggering amounts of funding, and you have the opportunity to scale overnight to become the next big thing.

On the other side of the scale, you don’t have access to the sort of institutional knowledge that powers traditional businesses. You don’t have their deep pockets, and the size of organisation that lets you support your own teams of specialists. You need to take steps to enable you to play on an even field with big business.

Gathering Data

Without the built in recognition and reputation of an established business, you don’t have the chance to make mistakes. With an unfamiliar brand the public can be unforgiving, so you need to make sure that when you offer them something, it’s something they want and find attractive.

Market research is vital. It shows what customers want, how they want to receive it and how much they want to pay. Taking on full time market research staff is something even big, established businesses do rarely, but this means that there is a thriving sector of market research agencies and consultants you can partner with. Working with a firm like Attest gives those vital insights to tailor your decisions to exactly what the market wants and get it right first time!

Funding

Getting up to speed as a start up takes time, and time is money. You need the resources to keep the momentum up until you’ve broken through and established yourself in the market. If your funding runs out before you’re ready to launch or gives you no budget to actually market your services all your effort will be wasted.

It’s important to find sources of funding that understand the business you are building. Being interested in results is fine, of course. Investors expect to be able to see how you’re spending their money and ensure it’s productive rather than squandered. But if they don’t understand your business model you might find your actions constrained by unrealistic targets.

It’s important to find investors you can enter a real partnership with, who share your view of how your business can thrive, and will challenge your assumptions without simply blocking your progress. This allows you to match the resources of big businesses as you develop a product and become self-sustaining, and can pursue your own success for many years to come!

Filed Under: Blogging

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Sign Up and Get My Family Finances Delivered to Your Email

Enter your email address:

Delivered by FeedBurner

Search My Family Finances

Google
Custom Search

Recent Posts

  • Unexpected Home Expenses You Should Always be Prepared for
  • How To Avoid Constant Doctor Visits (Saving You Money In The Process)
  • How To Protect Elderly Parents From Scammers
  • What the Coronavirus Teaches us about Personal Finance
  • Tips to Eliminate the Stress from your Cash Plan

Archives

  • January 2022
  • October 2021
  • April 2021
  • April 2020
  • February 2020
  • October 2019
  • August 2019
  • July 2019
  • February 2019
  • January 2019
  • December 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • January 2017
  • December 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • November 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • October 2014
  • August 2014
  • July 2014
  • May 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012

Categories

  • Average Family
  • Blogging
  • Budget
  • College Information for Families
  • Deals for Families
  • Family Banking
  • Family Debt Management
  • Family Finances
  • Family Grocery Spending
  • Family Insurance
  • Family Saving
  • Family Spending
  • Money Answers
  • Uncategorized

Copyright © 2022 · Genesis Sample Theme on Genesis Framework · WordPress · Log in