How to Develop a Great Startup Idea

startupSuppose you want to go past a simple towing service business idea and come up with a more complex and sustaining idea that can be a game changer, how do you go about it? The best business ideas come from trying to solve a problem. You should try to solve this problem probably in a space you are familiar with and offer unique solutions. To come up with a great business idea, you need to become idea detective. Here are ways to go about it.

Become Idea Detective

You need to stop accepting the world as it is and see it in a different angle. You need to start noticing things that are wrong, inefficient or causing frustrations. You should never allow imperfections. Never ignore opportunities that can create great business ideas. The main goal with this point is to identify imperfections and try to come up with solutions that can help solve these imperfections.

Become Observant

You need to become observant of pain points. You need to become a keen student of consumer behaviors. Instead of rolling over the day with the way things are, try to notice things that are ineffective and inefficient. Start watching people and try to figure out what could be some of the problems they are facing.

Focus on Problems

You need to focus on key problem areas to come up with solutions. Focus on the problems you have as this can be one of the best areas to find solutions on. The second thing is to check on the problems people you know have. Take a closer look on the problems you suspect others have. These could be problems with people in your family, your colleagues and friends.

Turn your day job into a business

Another key way of coming up with business ideas is to turn your day job into a full time business. You might be offering services such as teaching and coaching to others, and if you scale this up, it can be a very good source to solve other people’s needs and hence create a business out of it. You can also turn your expertise into a media company by creating a blog and automating the process. Additionally, you can look at jobs that are highly on demand and work towards creating a value out of it. You can also brainstorm for solutions with your friends and colleagues.


Essential Steps to Follow for a Successful IPO

businessFor many CEOs, taking over a company through a successful IPO is the most rewarding and challenging tasks they have to undertake in their career. Any company is it a tech company, a towing service, an insurance firm, etc. can pass through the stages required to successful register its IPO. The rewards of going public can be so much exciting. However, getting there, it required the work of experts to ensure that everything goes as planned.

Here are some important aspects you have to get right when preparing for IPO.


Upgrade your technology

As your business grows, you can expect various sectors of it to be more complex and subject to a greater scrutiny. It is very important that you set in place systems that can be used to keep up with the growth you are experiencing. You need to upgrade your technology in advance as this will help you save a lot of hassles down the line. You will be able to present a professional and an efficient face to any potential investors along the way. When others have invested in your company, you have no option left than to keep on top of your metrics.


Audit your taxes

Any private company going public is always faced with a lot of tax concerns. Because of the mistrust, we have today, it is very important to ensure that all issues on matters tax are carefully addressed. The earlier you will be able to address tax concerns, the better you will be placed to answer all related questions. You need to ensure that you do all that is required for your company to comply with all regulations set by the government.


Have a strong team in place

Business processIf you have reached that stage of going public, chances are that you have a large number of employees who understand their mandate and day to day activities.  You need to have a team in place who can be trusted to handle large aspects of your business. Such kind of mandate not only applies to senior members of your team but also applies to every employee. You need to have a team with experience in how to carry out financial reporting because all investors’ eyes will be focused on finances. You also need to evaluate the existing team skills and if possible, get others in the team who can be used to cover for any teams weaknesses.


Brief your team

For any team that is employed at your company, a simple shift from private to a public company may seem to be quite monumental. By extension, the key components of a business are its employees. When a company goes public, such employees will be subject to a number of new regulations. It is very important to make your team aware of what to expect and coach them on the new laws and policies that will affect them. This can be very important especially in the event that you are offering your employees some stock options or shares.


Easy Ways to Raise Capital for Your Business

capital-managementOne of the most important yet hard tasks that entrepreneurs face when starting out their business is raising capital. Capital is simply the amount of money a business has in their disposal when it comes to spending on various business activities. Raising funds is never an easy task. It requires discipline and determination to meet the targets.

When it comes to raising capital, there are a number of ways one can go about it. Let us look at some of the most viable ways one can go about it in raising capital for their business.


Raising it yourself

One of the simplest and most applicable ways to raise capital for a business is doing it yourself. Most founders put aside some capital in terms of savings for their business. It can be saved that arise from your 9-5 job. Others spend some extra time off their work working to save some extra cash for their business.


Family and Friend

If you are coming from a family that is well established, a key way of raising capital is linking up with family members for the same. Any business will always involve some level of risk. You might have a great idea but it turns out to be far out of a touch of reality. When you have friends close to you, they may give out their honest opinions besides contributing to your business.


Venture Capitalists

VentureA venture capitalist is a form of private equity that is provided at an early stage to an emerging firm that has a high potential for growth. You might have probably come across the term VC from Wall Street. A venture capitalist is a high-risk level of funding that aims at supporting a business with hopes of a high return on investment upon business maturity. The downside of venture capitalists is that they want their invested money to grow so quickly so that they can realize their return on investment. Venture capitalists are able to recoup their money during the initial public offering stage.


Angel Investors

An angel investor is normally the opposite of venture capitalists. It is normally a wealthy person who is investing more in you as a person as compared to investing in a business. Angel investors use their own money instead of that of a venture capitalist and ensure that it is well managed. In return, an angel investor gets some ownership in the company in form of equity or some convertible bond.


Bank financing

You can get funding for your business through some small business loans. The bank works through evaluating your credit score and deciding on the amount of loan you deserve. The bank also reviews other issues such as your time in business and your business plan to make an estimate on what you are worthy. You will then be required to gradually pay back the loan plus interest. One of the main advantages of getting a business loan is that you will not be giving out any ownership of your company to anyone.

Easy Tips to win more Customers for Your Business

referralsAre you looking forward to learning new and interesting ideas to attract more customers to your business? No matter how exceptional the product you are selling or the service you offer is, your business will not be able to make any profit not until customers are willing to buy from you. In most cases, small businesses experience hard times and many of them fail. They don’t fail because customers do not want to buy their products, but fail because customers do not even know about their products and services.

These businesses are also so poor when it comes to marketing and advertising. If you are looking forward to winning more customers for your business, here are some easy ways to go about it;



Referrals are one of the oldest forms of marketing and advertising, and one of the most effective. Through it may bring slower results as compared to other methods of mass marketing, its effectiveness cannot be questioned. When a customer is happy and satisfied with a product, there is a natural tendency that he will likely share his experiences with his friends and people in his circle. A satisfied customer is one of the most effective tools any business can afford to keep.

If you are looking forward to having customers refer your business, there are a couple of things you must get right first.  You need to sell a product that really works, one that offers great benefit to anybody who uses the products. Most people are willing to buy a product or service that solves their problem or satisfies their needs. You also need to offer a great customer experience. This will give customers a reason to advertise and market your business.


Free stuff

Everyone likes free things. When you give some of your products for free, amazing things happen. First, you let people out there know that you exist. Secondly, it gives you a unique chance to prove the value and worthiness of your product or service by showing it really works. Lastly, it provides your future customers with a risk-free way to try what you have to offer without spending any money on it. If customers find value in what you have offered them, they will always come back to buy.

You should also offer discounts and special deals. Discounts present another creative and low-cost way of attracting more customers to your business. People like discounts and deals as they see them as an opportunity to save money for something they like.






How to Start a Successful Moving Business

movingToday’s families are on the move. Most people are also changing careers so fast and most of these career changes come with a move. This means that starting a moving business can be a very lucrative venture. Starting a moving business involves a lot of commitment to supply a growing market which needs nothing but superior services. If you are looking forward to starting a moving business, there are key issues you have to get right from the onset.


Initial research and planning

If you start a moving business, you will have started a wonderful career for yourself. Before you can get deep into the business, you need to understand customer demands and expectations. You must invest a substantial amount of your time planning and organizing to ensure that everything works well as planned. You need to have a business plan that highlights your services, target market, finances, and operations.


Conduct market research

As a business owner, you must be able to identify your ideal customers. You need to start your analysis by finding out data on the moving industry. The information you get will help you in estimating demand and positioning yourself to a better service position. Look out at trends that will help your business deliver better than what other competitors are doing. You also need to choose a market which you will be supposed to serve.


Decide on the specifics

Now that you have done your evaluation of the moving industry what needs to be done next is to decide on the specifics. You need to choose a company name and logo. Choose a name that spells out the primary characteristics of your brand. The name of your business should also be easy to pronounce and short. Also get a domain for your business because you will need to operate online. Your logo should be simple and easy to recognize.


Your business location

MoveThe location of your business will play a key role in determining its profitability. You need to find a suitable location for your business and a facility that can accommodate the needs of your business. Decide on the number of employees you are ready to work with. You also need to decide on the services you shall be offering. Ensure you have a wide range of services to cater for all your customers.


Business Promotion

Technology and global markets have greatly changed the way we do business. Social media has revolutionized the way we conduct business online. The popularity of mobile has given rise to a whole new market of users. Shoppers and potential customers can now be found online. If your business is not operating social media channels, you are missing out big time.

People are turning to search engines and social media to find solutions to their needs. You should also stick to these places people are found and promote your business from such places.  Be active in social media, create social media promotional content and engage your prospects in these platforms.