Starting a new business is tough. In the back of your mind is the niggling seed of statistics telling you that you stand more chance of failure than of success. But you’re excited, you have your idea, you know it will sell, and you know you can do it. So what is the difference between those who populate the negative scales of the stats, and those who become buoyant and successful? How do you make sure that this time next year you’re not seeking business debt solutions and facing winding up a company?
The answer lies in two words: the internet. The key difference between those start-ups that are successful and those that fail is how successfully they have incorporated this internet into their business model. Success is often a measure of simply how tech-savvy they are. Out there is a world of possibilities, a global marketplace to tap in to, but you need to be there to win it. You need to build a web-presence so infallible that people can’t fail to notice you; can’t fail to want you and your services.
The Winners & the Losers at Avoiding Start-Up Stumbles and Company Liquidation
You might well have a good idea, product or service. You might have a degree in Business Administration. Chances are though, your knowledge of just how much the internet has changed the global economy in the last two decades is a woeful underestimation at best. The internet is your business model: not part of it, not an add-on, but the beating heart that splits businesses in to winners and losers.
Let’s take a look at 5 industries that have travelled the bumpy path since the internet revolution: Music, Retail, Publishing, Travel and Transport. Not one of these industries looks even remotely similar to 20 years ago. Each and every one has had to radically adapt in order to survive. Businesses have been forced to undergo cataclysmic change in the way they view, perceive and utilise their market and business acumen.
In the Music industry the power has shifted from producers to consumers, or individual artists. Gone are the high street stores selling CDs that saw queues outside for a much-anticipated new release. Tower Records and Zavvi no longer feature on the Great British High Street. Instead, digital downloads and local festivals are where it’s happening. YouTube and Deezer are big names, and have danced to the internet’s tune to make that happen.
In Retail, yet again the death of the High Street rules supreme and we’ve waved goodbye to some old stalwarts: Woolworths, Blockbuster, JJB Sports and Comet, to name but a few. The ‘new’ names, the names that ooze success, they are internet giants: Amazon, Asos, PrimeNow. These companies don’t even have a high street or retail park present, yet a staggering amount of retail money goes to these businesses daily.
Across Publishing, Travel, Transport, and many other industries, the story is the same. Winner equals tech-savvy internet-embracer, Loser equals tech-fearful internet-shunner. It’s not an option if success is the aim of your game. Don’t be there, making a call for business debt advice, because you wanted to do things ‘your way’ without fully embracing the internet. The results won’t be pleasant and you’ll likely be staring down the barrel of a gun named Liquidation.
Tech-Savvy, Internet-Savvy Equals Business Growth & Productivity?
Yes. The first step is an easy one: you’re standing at the cross-roads of starting up a business. Left and you try to do it by yourself without this guy called the Internet, right and you look up to this big fella and get going. He can be a bit scary, you don’t always know what you’re dealing with, but he’s the guy to know. Right from the start, embrace technology, embrace a business model that puts the online in the frontline. Make that decision so integral to the start of your business and you stand a very great chance of success.
Start-Up Sprinting: Avoiding Business Debt and Making a Start that Gets You Winning
Once you’ve got the momentum of your new business going, your battle is half won. Bringing branding to a global market, and competing on a universal scale, once your name is hitting the high rankings on search engines – then you’re on the homeward straight. This is going to happen a lot sooner if you embrace the internet at the offset. Check out the following infographic produced by those who see stumbling start-ups a little too often. They know the winners are the ones who embraced the internet from the fire of the gun, and those who didn’t: they are the ones seeking business debt solutions and liquidation.