Startup Business Hacks: Innovative Tips for Sustainable Online Success

Owning a startup business is no easy task. According to recent data, nearly ten per cent fail within the first year. More than 90 per cent ultimately fall short of their expectations. Why is this the case?

Should entrepreneurs “throw in the towel” before the fight has even begun, or might success involve more than initially meets the eye? Let’s see what it takes to walk away a winner, and why generic approaches are destined for anonymity.

Know Your Audience

It’s a bit ironic that many small- to medium-sized enterprises fail to address this simple concern. What audience do you hope to address? What are their needs, and what products pique their interest? An example can clarify this point.

Let’s assume that your business is involved with the renewable energy sector, and that you happen to offer a geomembrane intended to store methane for subsequent use in energy production. In this case, specifics matter. Customers are already familiar with the purpose of such barriers. It’s therefore important to emphasise additional details such as permeability, dimensions, adhesive strength, and temperature range.

To put it simply, ensuring an ample return on investment does not only involve clever marketing. Businesses must understand their customers, and present them with actionable information.

Multi-Faceted Marketing

A well-balanced investment portfolio performs well over time. This concept is equally applicable when discussing the fluid world of digital advertising. It would be a mistake to rely upon a single portal for revenue generation. The strongest business models embrace a more well-rounded approach that takes into account:

• Standalone websites
• Social media channels
• Blog posts
• Pay-per-click (PPC) marketing
• Physical word of mouth

A touch of variety will go a long way, so never be afraid to push new boundaries.

Constant Oversight

“Set it and forget it” is hardly the way to view the e-commerce sector. Businesses should always be on the lookout for new opportunities. Static ventures will hardly stand the test of time; especially when we consider the fluid nature of the digital retail ecosystem.

While you might not be forced to reinvent the proverbial wheel, there are plenty of instances when adopting an innovative approach could provide your venture with the impetus needed to rise to the next level.

Although statistics may be daunting, transforming an entrepreneurial dream into a reality could still be within your reach. The strategies described above might very well make all of the difference in the world.