bizzbeesolutionsblog-blog

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How Lead Generation Helps You Conquer The Sale

To start with, there are a lot of businesses out there that want to differentiate themselves from the competition. Not just to be distinctive in their business concept but to be unique into their lead generation approach too.

When startups launch a product for example, immediately there’s a big surge of interest in the product, only to be diminished in a few months later. That’s because they didn’t nurture that interest enough, and didn’t know how to capitalize on it.

A big percent of entrepreneurs don’t even know how to start the lead generation process. They don’t know how to engage the people that are interested in their product. Also, another problem that entrepreneurs have today is that once they capture a lead and interest, they don’t know how to convert it.

Here’s the thing. Getting qualified potential buyers and actually making them buy your product are two different things.

There are also small businesses that manage to sell their products, but they need or want to sell more. They want to grow their business. So they’re already earning money, but they want to build up on that and increase their revenue. In other words, they want more customers.

1. Lead generation helps you to figure out who will want your product

Who on earth would want to buy your product? Let’s say for example that you produce umbrellas. And we will also say that is too broad. It’s a huge niche because everyone needs an umbrella. Here, like in every other broad niche, you need to find a more specific target to gain new leads that you didn’t spot initially.

So you have to determine if there is a market for your business where you can thrive and grow within a specific niche. That’s why you have to do a market research first. Market research is the critical step to finding out who your target customer is and what he’s interested in. Rushing out with a product launch without doing market research first will result in shutting down your business.

2. Lead Generation helps you in developing interest for your product

Once thing is for sure. You can’t swing with a magic stick and make people interested in your product! In fact, creating interest in a product is more art, than magic. The thing is, not everyone will be interested in your product or in your digital service. But guess what? People are regularly interested in themselves.

Think about BMW as a brand for example. Their slogan says “The Ultimate Driving Machine”. They don’t tell people to buy their car. They just tell them what they’re going to drive or more precisely, what kind of experience they’re going to have while driving the vehicle.

Now, to know what makes your target market tick, again, you need to do a thorough market research and use the data to create an excellent marketing strategy that will help you in creating interest for your product or service. Your leads or potential customers will only do business with you if you nurture them well enough to make your product appealing to them.

3. Lead Generation helps you to make the sale

It’s obvious, isn’t it? Once you know that your target customers are interested in your product and you know you have their attention, now it is time to capitalize on that attention and make the sale.

Sales is the king and the queen in business. Without making a sale, your lead generation process is just a total waste of time and resources. The success of your startup and the prosperity of your current venture depends exclusively on sales.

To execute a sale successfully, first, you need to do what we talked about above, which is researching the market, generate leads and maintaining the customers’ interest in your product.

Only one type of entrepreneurs are successful, that is entrepreneurs that understood their customers thoroughly and know how to approach the market so they can nurture the lead flawlessly until a sale is successfully executed. The question is, are you onboarding the successful entrepreneurs train or not?

As a startup, you need to think long-term and acquire customers that will prove profitable over a lifetime. You need to position your business in the most profitable space on the market and create a huge demand for your product. Alone you’ll spend a huge amount of time on research, lead generation, digital marketing, testing and content creation to reach the right leads.

You got to ask yourself if you’re experienced enough to do it in your startup phase. If your answer is “No” then you should consider BizzBee experts to do it for you. Leave the work to professionals while you focus on your product. We can find you highly targeted company leads with contact information of the decision maker within the company. You only need to tell as what is your ideal client and we will find them for you. You can then focus on engaging with them.

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How Market Research Helps You Thrive In Your Market

. Market research helps you recognize present and future market trends, demographics and potential shifts in the economy. It also helps you to keep track of the customer’s buying habits and vital information about your competitors. This information can be used to help you define your target market. It will be used to give you a competitive advantage in the market.

Successful startups should sell their products and services based on customers’ needs. And they should continue to do so in the future. Every startup on the market wants or has the ambition to be successful. The same questions come to mind of every entrepreneur:

Will my product satisfy a need?

Will someone use my services?

Who will buy my product?

What pricing packages should I offer for my product?

How to notice trends in my industry?

Who are my competitors and what do they do to succeed?

The data that is gathered through market research is not just something to have in order to be “up to date” with the industry. Yes, you need to be up to date, of course. But this valuable data is going to help you make the best calculated and tactical decisions for your business.

By researching the niche market of your business, your customers, and your competitors, you can discover every unmet customer need and consequently, you can discover new and more innovative ways on how to pitch your product and even how to improve it or create a new one.

Only by researching the market thoroughly, you can minimize business risks and you can save yourself and your new venture from making expensive mistakes.

Without further ado, here’s how market research really helps your business:

Market research helps you interact with your target market

How can you communicate effectively with your target customers? Through effective marketing campaigns, of course.

By investigating your customers, how they spend their money and what they want to buy, you’ll find it less difficult to create marketing campaigns that will align with their purchasing habits. You have to know what customers do.

People buy from people. You might as well find out that your target customers have the exact same interest that is aligned with your core business model. Having that information will only benefit to your communication with your target customers.

Market research helps you recognize and comprehend opportunities

Opportunities exist in the marketplace. They’re out there. You just have to discover them. For instance, with a market research, you can spot an opportunity to start a business or move your existing business to a location that you would’ve never thought of before, where the competition is small or there is no competition at all.

And more important than everything, market research will answer the question whether your business is ready or not for your target market and for a specific location.

Market research helps you identify potential obstacles or problems in your business model

By obstacles, we don’t mean only problems with the business concept itself. We also talk about competitors, hidden direct or indirect competitors that are not easy to spot at first glance. These guys can easily impede your capability to form a competitive advantage in the marketplace.

You can also discover what the big-time competitors are doing, and what they plan to do in your target market location. This information is essential to discover it because it will help you reduce every short-term and long-term financial risk within your venture.

Market research helps you standardize and assess your success in the market

By finding out the size of your target market, who are your customers and what your competitors are doing, you’ll find it easier to set your reach goals, you’ll cultivate and grow your customer’s base and you’ll find out what is your market position in comparison with your competitors.

Whether you’re starting a new venture or you want to expand your existing venture in new markets, market research can give you precious information to help you create a powerful business plan.

You have to be aware of the size of your industry, whether it has any growth potential and how your business can operate in it. Customers and their characteristics are an important information that will help you predict where they spend their money. Whether they’ll want to spend their money on your product. Because your target customers have their motivations. They have their psychological triggers, perceptions, and values that can be deployed in your marketing strategy.

Your competitors and every other political, economic and environmental trend have a huge impact on your target market and your business. Information that is gathered from market research is considered a valuable information that is relevant to your business. The result is nothing less than key decision making that can help you thrive in the market.

Thank you for your attention. Are you an Entrepreneur that wants to start a business or own a company that wants to expand? Do you want to successfully identify trends and competitors and better understand his clients? Not sure where to begin? BizzBee is here to guide you through the steps that will help you differentiate from your competition. Our expertise is in working with Entrepreneurs and Start-ups and we can guide you throughout the entire process.

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6 Ways Virtual Assistants Improve Your Startup

Startups with lower capital sources and restricted funding possibilities need to control the cash flow potently so their business can strengthen during the process.

But money is not the only commodity that a startup has to manage. More than ever, today time is the most valuable commodity. Entrepreneurs have to strategically think about growing the business first over everything else. Managing insignificant tasks when bid and revenue decisions have to be made is unforgiving in the world of business.

Here comes virtual assistance in the rescue. Having a virtual assistant provides you with a huge increase in time that a smart entrepreneur can use to grow a business and focus on the core activity. Outsourcing alone is more cost-effective than hiring full-time.

These are just some of the benefits of hiring a virtual assistant for your business:

1. Virtual assistants are cost-effective alternative

If you want a milder impact on your budget, a virtual assistant is an excellent way to smoothen up your expenses. Actually, virtual assistants are working as entrepreneurs, because they look at the given job as a business itself. They also manage their budget too. They make sure they’re cost-effective in their work because that’s better for them from a financial standpoint. And it’s better for the one that hires them.

By hiring a virtual assistant or renting one as we would put it, you’ll avoid all the additional expenses. Expenses like rent, the Internet, paycheck and paycheck benefits. We all know that regular full-time employees cost significantly more.

2. Virtual assistants are flexible and multitalented workers

Gone are the days when a personal assistant was, in fact, a secretary that only picks up the phone and prepares the coffee. Today, in this talent pool you can outsource every possible work that you can’t do it or shouldn’t do it on your own.

You can rent a virtual assistant for just about every skill that you lack in your company. Some of the most in-demand skills out there is scheduling and arranging meetings, arranging business trips, social media marketing, content marketing, web design, SEO, audio transcription etc.

3. Virtual assistants increase productivity

Unnecessary tasks are the worst when you need to focus on what you’re good at, in this case actually growing a startup business.  Just imagine what at least four or more plus hours in a day would do for your decision-making process. Four hours is like a half day! If you monitor all the stuff that your company does over the course of a week you’ll notice that nearly half of the work day is spent on that secretarial stuff.

On the flipside, you can’t get the same productivity from an employee as from a focused virtual assistant in 4 hours when paid by the milestone. Actually, a vast percentage of virtual assistants out there come from a company or worked previously in a company so they are always keen in meeting job deadlines.

4. Work adaptability

You can actually hire a virtual assistant in the exact moment when you need it. These guys are not always in their office. They work from home too where they have their computer and Internet. And they will dedicate the necessary time that is requested from them to do the job successfully.

This is principally important when outsourcing virtual assistant from a different time zone. If your startup is situated somewhere in North America, you can have your business managed even when you sleep or literally 24/7 from someone across the globe.

5. Less or no growth risks

When launching a startup, growth is the number one task. But scaling can get problematic. As an entrepreneur, you have to be sure that you and your team can handle the work volume without undermining the budget, income and product/service delivery whatsoever.

By hiring a virtual assistant, your assets are less vulnerable to risks.

6. Less work stress

Time away, vacations, and coffee breaks are the gateway to missed opportunities in business. That is true, but we all need a break from that overworking burnout.

This is a matter of general health and well-being. Because no one can work or run a business overworked and hunched out from unimportant tasks on their computers. Everyone needs a break from all the work pressure, and to recharge the batteries.

With hiring a virtual assistant, you can easily go on an investment seeking tour for your startup and monitor your business at the same time. Businesses need flexible and prepared workers in situations like these.

Only virtual assistants can provide you with that flexibility and give you the leverage to handle every unpredictable business day. Virtual assistants are the new wingman and the classified ammo of successful startups.

Do you have some work-related tasks that need some outsourcing? If you have more complex projects, or you need some specific skills set to do the job for you, the BizzBee team is here to help you! With our Rent-A-Bee service, we can screen our employees and offer you a dedicated in-house employee who can work on your behalf and has the expertise you need. If we don’t have that skill, and you need it for at least 3 months – we will recruit it for you. In this case, you can even be involved in the selection process.

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What Do Investors Want To See In A Business Plan?

Venture capitalists screen business plans. That’s what they do. The business plans are coming in at them every day, and they’re the ones that have to make a decision. They either would arrange a meeting with you or politely say that your business idea is not good enough.

You need to understand that 99% of the business plans that venture capitalists receive are declined.

These are the things that get the most attention from venture capitalists during the business plan evaluation process:

1. The Executive Summary

The executive summary of your business plan is the first thing that the investors look at. Nobody has the time to read 40 or 60 pages business plan novel. Venture capitalists want to see those 3-4 pages at the start. These pages help them to get a grasp of what are you planning to do with your business.

If investors can’t see the opportunity here and if they can’t understand what your business is about immediately your business plan will end up in the trash bin.

An investor can’t know your business better than you. That’s why your business plan, and especially the executive summary needs to be clear and concise. It should be clear in a way that even your grandmother can understand it. That’s how venture capitalists will recognize the opportunity that you’re offering to them.

2. Management

The other thing that investors look at is the team, more specifically, your management team. Yes, the idea itself is of huge importance. But even more important is the team that is going to carry out the idea to the accomplishment.

Venture capitalists see a dozen of companies daily that are pitching the same or similar business idea. But the question remains which is the best team that is going to execute that idea and bring the results.

You have to have the team of experts that know their job and that has to be showcased in your business plan too. That’s how investors see what you’re talking about. As a startup, it’s understandable that your team might still not have the experience to add up to their expertise. For that reason, at this point, it is recommended to get some help and advice on how to present the management team.

At the end, it’s all about the team. Make sure you pick the team right. If you have credibility and you trust your teammates, you’ll gain credibility with the investors and they can trust you too.

3. Investors want to see your financials

If venture capitalists love the executive summary and your team, they’re moving on to the part that most interests them, financials. They want to see numbers. And not just numbers, but numbers that make sense. They want to see how they’re going to make their money.

This is not the romantic section. Also, this is not the big dreams section either. You’re not going to be the next Google in two years so leave your thoughts in your brain for this one. You have to be careful if the amount of funding that you’re asking can bring them the profit, as well as salary for you and your team.

How you’re going to use the money has to have logic. Investors have to see some return. Angel investors, for example normally expect around 30% in return every year. They want to see the value of your business, even the perceived value for the future if another company wants to purchase your startup.

So an executive summary, good team and management, and firm financial projections that will reassure investors to pick your idea for funding. These are the things that every investor is going to look at when evaluating your business plan. There’s no other way around it. Even if you’re friends with a venture capitalist and he does a favor for you in scanning the plan, if you fail at executive summary your plan goes straight to the bin without any emotions whatsoever.

Having a business plan is important because it will help you set realistic goals for your startup. It will also serve as an excellent tool to secure investor funding and to establish the financial forecasts for your business and ROI (Return on Investment).

To be considered as a strong candidate for receiving investment funds, you must prove that you thoroughly understand every aspect of your business. And you must prove that you know how to create profit from it.

As a first-time entrepreneur that has a great new idea, we advise you to not jump into business waters without a plan. There are important questions that need to be answered first before you even start the company. The BizzBee team of experts is here for you to help you answer all those questions. We are here to guide you through the process of successful business planning.

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3 Genuine Reasons Why Startups Fail

1. Startups often don’t have competitive advantage

In other words, you don’t offer a product that is better than the competitor’s product. Or, you don’t know how to penetrate into the market better than your competitors. Almost every startup today opens up their venture with no competitive advantage. That’s why they end up not succeeding at all. But why is that?

Well, the most entrepreneurs out there want to stick with an already tried and proven before business model. We are talking about the same business plan and the same suppliers too. And humans as creatures of habit love to keep up with the same old things again and again. The truth is, these businesses are surrounded by competitors that use the same business model, the same business plan. That’s why they even pitch in similar ways to clients and investors.

Too many similarities with the competition mean fewer chances of succeeding in the market, especially as a startup. If you want to be a “unicorn”, you got to act like one on the market. When Ingvar Kamprad founded IKEA nobody previously thought about buying a furniture that comes in pieces with DIY instructions. And when Henry Ford built the first Ford T-Model, there weren’t even paved roads out there. But they somehow found their leverage to conquer the market.

You should take a hard look at yourself and think about why the customer would want to choose you instead of your competitors. If you are not able to answer that question, you need to look for the answer fast. Because before you know it, you’ll fall into the 90 percent pool, instead of the 10 percent unicorn pool.

2. Not having enough data

Tracking and measuring is crucial for a successful business. Founding a startup alone means that you’re talented and educated. But if you’re not able to understand and measure data you’re not a complete entrepreneur. And the truth is, the best entrepreneurs out there measure everything. They take a good look at every element of their business, look at statistics and try to improve where they lack the numbers.

The market itself, for example. Do you ever think about how much time it takes for the customers to find and purchase your product? Do you know your customer enough to know from where they come from, or your average purchase per customer? You want your customers to give their money to you, not to your competitors.

Or how much time do you spend in selling your product? What about your sales success rate? How many emails you send per day and how many customers respond or engage with them? You have to know your success rate before you start improving it.

Also, we can’t emphasize enough to know what the competitors are doing. Don’t get so confident to ignore the competition. Finding out what they do and how they do it is the key that will lead you to your competitive advantage.

3. Startups are still doing time-consuming tasks

So many companies complicate their time-management and management protocols themselves that they end up wasting more than half of their valuable time on trivial stuff.

Trivial administration, for example. Or those long “chit-chat before the actual work start” meetings. These “meetings” can consume entire half of the day. And of course, email communication that most of the founders don’t have time for when they try to grow their business.

These tasks are not the things that you should be doing as a founder if you want success. Yes, sometimes they’re important like an important meeting or an important email, but you need to make sure that they will not waste your precious time on them and focus on activities that will bring you the money.

When you’ll get clear on what activities bring you the money, then you can schedule or outsource the trivial ones and focus on what you do best. Outsourcing some of these activities to an assistant is the best possible and cost-efficient solution that will give you the extra valuable hours per week. Not just to you as a founder, but your sales and marketing team will feel relieved too and they can focus on making the numbers.

To sum up, you should never start your venture without having a competitive advantage. You need to make sure that your startup will thrive in the niche that you’ve picked. Knowing the data too is crucial to be able to predict what will happen in the niche and fix the stuff that you lack. The sickness of modern-day businesses is doing low value or vague activities that are just time-consuming and nothing more. Everyone want to look busy, but busy doing nothing as a startup will get you to the 90 percent pile immediately.

With over a decade’s worth of industry experience, at BizzBee Solutions, our valued clients represent and come from different backgrounds and industries. Focused on SMEs and startups, we believe in the consistency of hard work and the magic of efforts put in to achieve success. Our business model is vested in our philosophy, we leave you to focus on the core of your business while we take care of the rest for you. From formulating business plans to setting up market research campaigns and much more our experts align themselves with your organization’s long-term strategy and while you’re busy in materializing your aspirations we offer you a helping hand in achieving them.

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You Want Successful Email Marketing? Understand These 2 Things

A lot of businesses, particularly the new ones are facing the challenges of a successful email marketing campaign. As a startup founder, you should understand your business the best. You have the passion that’s behind your business model and you understand your product perfectly.

So when you step foot into your first marketing efforts, you want to make sure that you know exactly what is the key message that you want to send to your consumers. What is the message that you want to send to your clients?

What is your strategy for successful email marketing?

A clean strategy is what you need to aim for. Because only the right and precise moves can help the nurtured relationships that you’re building with your clients.

First of all, you need to understand how you’re getting those email addresses from the consumers. It doesn’t matter whether that is via landing pages on your website, trade shows, research or just conversations with people. What matters is your ability to collect information about the exact people. These are people that are interested in your products and be able to form a relationship with them.

On your website, you will want to make sure that you have a place where people can easily go in and sign up with their email address. And you need to set the expectations for what they’re going to receive from you. Once you have the email list, then you can put the strategy into action.

A great email marketing strategy consists of various components. A lot of different things.

First of all, you need to determine the content that you want to deliver to your clients. What about the message? Is your message compelling with your end users? And how frequently you want to send that message to your end users.

The clearer you define your strategy and understand what each part of your strategy do, the better decisions you will make with your email marketing campaign.

Have you figured out what is your brand?

What is your brand? You need to get familiar with your brand. You need to know how to articulate your brand before pushing the SEND button.

In email marketing, everything happens after pushing the SEND button. Once that button is clicked, the reputation for your brand is starting to form. Once you clicked that button, the email will be delivered to every inbox from your email list.

Sending a spammy content or sending emails that have nothing to do with your business, bad things can happen for your brand. One of those bad things is your email letters ending up in the SPAM box. That’s why it’s really important to have a reliable partner that will make sure your emails are delivered directly to the ones that signed up for your newsletter.

What is also important for the image of your brand is how does your list look like? How old is your list? If you have some contacts in your email list for 5 years and you haven’t had a lot of interaction with those might mean that you’ve hurt your reputation and lost that person as a possible client for whatever reason. Engaged users should be your focus, that’s where you need to nurture the relationship.

In the end, how good is your brand will directly result in engagement from your end users of your email list.

To sum up, you need to know your audience and know how to curate a list of emails, and know how to craft the right message. You need to understand who your business is talking to and focus your message to the persons that you’re talking to. Make the message about your customer. Your emails need to be sent to the right person, and in the right time. That’s how you develop a successful email marketing campaign.

We decided that e-mail marketing needs to be more efficient and more effective. Several aspects need to be considered when using e-mail marketing.

BizzBee Solutions is here for you to help you form connections with your present and future customers through super-personalized and customer tailored email marketing service. We got the resources and the team to make your business different and more successful than your competition.

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The 3 Pillars That Will Support Your Marketing Strategy

A house cannot stand still and endure without foundation. That’s true for every aspect of your business too. When developing your marketing strategy, you must have a foundation first before you plunge into promotional activities. You need to be sure that you’ll win the market. Nothing less than that!

Without further ado, here are the three pillars of a successful marketing and business strategy:

1. Target market segmentation

To reach your sales goal, you got to understand how your product can penetrate the market first. You have to know if your product will be successful. And know that before you even begin with your marketing efforts. If you understand the importance of market segmentation after your launch, you might miss the train that carries successful products.

It’s very typical from entrepreneurs when they think that their sales and ROI are not good enough because their product is not good enough. And then they tweak their product confused who would start buying the newer version. Oftentimes, even the sales team is accused of not doing their job as they supposed to.

But the truth is, perhaps your sales team doesn’t get the right leads. And your product will only be successful if you understand your target market. That’s how you position your product and penetrate into the accurate market segment of your niche.

2. Lead generation

In most of the cases, a business will succeed or fail based on how good the potential buyers are generated. The right buyers will bring you the revenue. Blasting emails or spamming on social media will not get you to the right clients. And it’s not a marketing strategy at all. Instead, generating qualified leads even if it’s not a big list is the best way to guarantee a revenue from your sales efforts.

Lead generation must be an effective process. You have to be aware of the client’s voyage and what triggers him to make his choices. The only qualified leads are the ones that are actually interested in your product. When you’ll understand that, you’ll realize that generating leads for your marketing and sales strategy is a science, is not a straightforward task.

Here, the mapping of your target market as well as defining your product’s advantages are just two of the parameters that need to be perfect in order for the lead generation to succeed. Like we said, it is science, it’s not guessing.

3. Competitive advantage

There is always some kind of competition out there. Someone is already in the market wanting your potential client’s money. What is that one thing that will make the customer spend the money for your product or service instead of the competitor’s product?

The audience can only be attracted with uniqueness. And to find out what is your uniqueness or create one, you need to go back to market research and segmentation.

Is your product cheaper and better than most of the products in your niche? Then great, that’s what most of the potential customers look for in the first place. But you need to discover where that place is and ponder there.

So, to sum up, you need to understand your product or service, who will want to use it, the marketplace and the competitors. The value of your product can only be communicated through a thoroughly developed marketing strategy from the initial development and launch of your product to maturity and post-startup phase.

It doesn’t matter whether your product is something tangible, that can be touched with a palm of your hand or something that can only be used via computers or the internet. Only by identifying your target customers and developing marketing strategy your business will be successful.

With over a decade’s worth of industry experience, at BizzBee Solutions our valued clients represent and come from different backgrounds and industries. Focused on SMEs and startups, we believe in the consistency of hard work and the magic of efforts put in to achieve success. Our business model is vested in our philosophy, we leave you to focus on the core of your business while we take care of the rest for you. From formulating business plans to setting up market research campaigns and much more our experts align themselves with your organization’s long-term strategy and while you’re busy in materializing your aspirations we offer you a helping hand in achieving them.

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4 Mistakes That Startups Do During Market Research

Before you think about installing market research into your growth strategy, it can be advantageous for you to recognize some of the recurrent road blocks that startups face during their market research process. Mistakes and obstacles are not exclusively reserved for companies that are just starting their ventures. Even big corporations like Pepsi Co. and Coca Cola are making market research mistakes and lose millions of dollars during the process.

We put together four of the most recurrent mistakes that startups make during their market research approach. Take notes, and try to avoid them if possible:

1. Startups are guessing instead of knowing what are the applicable variables

If you’re old enough to remember the 80s, it means that you might have tried the newly flavored Coca-Cola that should have replaced the old Coke. They called it the New Coke. They failed big time with their new product. People didn’t like the new taste. And they even came out on the streets yelling for the “classic” Coke to come back in their fridges.

The new product actually came as a consequence of a market research observation that gone wrong. The focus group that they’ve assembled needed to taste both flavors. The classic and the new one. And without knowing which is classic and which is new. The greater part of the focus group liked the sweeter flavor more. And just like that, the future of the “classic” Coke has been decided: it was out. But not for too long.

In the process of doing the focus group experiment, Coca-Cola made two critical mistakes. One, the tasters were never asked the question on whether they still want to give up the “classic” and move on with buying the new one. Two, the researchers that were in charge were not appreciative of the fact that there are millions of consumers that are addicted and emotionally attached to the unique “classic” Coca-Cola flavor.

This fact points out perfectly on the significance of variables that can help you made the best decision based on the market research results. And explains why classic Coke is still in the stores.

2. Startups are hanging on and assert prejudices and stereotypes into your strategy

As an entrepreneur or as a startup team, you may have your own set of convictions and judgments. And we get it, it’s in the nature of humanity. With that in mind, we are aware that humans are prone to make decisions based on their convictions. And decisions based on market research are not excluded.

You have to be careful with your bias when you approach market research, and when you try to interpret the data afterward. This is the time to see the broader picture and to examine every possible aspect of your target customers. Keeping an open mind during the process of data interpretation will help you broaden your views and ask yourself the right questions that will help you develop a better sales plan.

Bottom line, it is never a good thing to make assumptions. Especially in business. And especially when you need to do a market research.

3. Startups don’t know precisely what to look for and where to look

Lots of first-time entrepreneurs dive head first into market research without first having a clear-cut picture in their minds. They don’t know what type of insights they want to obtain from their target customers. And focus groups can’t really clear things up for us, as we saw from the “New Coke” example previously. You will want to find out precisely what your customers want and what they will gain from your business. And you will want to know how much they are willing to pay to have your product.

When it comes down to market research, it’s critical that you know where exactly your target customers are, instead of wandering around and survey everyone that is interested.

4. Ignoring or not interested in their competition

Face it, there is a little chance that you are the venture capitalist’s next unicorn. And almost every idea or invention out there looks like a remix from a previous one. It’s a good thing to believe in your product and feel confident, but feeling so confident that you don’t even bother to research your competition is the feeblest type of confidence there is.

One thing is for sure, you shouldn’t be that disinterested in your competitors that you don’t even know what makes their customers tick or the reasons behind their biggest decisions. You have to be aware of their strengths and weaknesses.

When you swim in the market water with the same swimmers as you, you might as well find out how they manage their businesses and how they succeed in finding their best clients.

All in all, market research has become an indispensable instrument that will assist in the hunt for your best target customers and comprehend them better. Recognizing some of the pain points that startups face in their process of market research can help your startup overcome those obstacles or consult with experienced experts that faced successfully and know where to look for the right target customers.

Who is your ideal client? What are their needs, fears, pains, hopes, dreams? Who is your competitor? You might need one or all of the steps we can offer to help you.

If you are an Entrepreneur that wants to start a business or own a company that wants to expand, wants to successfully identify trends and competitors and better understand his clients but still not sure where to begin, BizzBee is here to guide you through the steps that will help you differentiate from your competition. Our expertise is in working with Entrepreneurs and Start-ups and we can guide you throughout the entire process.

[bizzbeesolutionsblog-blog]

3 Questions That Will Help Your Lead Generation Process

Generating the right lead is not easy. If it was easy everybody would do it. And everyone would know who the right prospect to sell to is. You’re going to face lots of challenges as an entrepreneur when generating leads for sales. And from a quality standpoint to a quantitative one. It’s tough out there. That doesn’t mean that you should just give up. Or totally ignore lead generation in total and go with your gut feeling.

You’ll be in much more comfortable position and much more confident in approaching measured sales outreach if you recognize the possible lead generation challenges upfront and know how to ponder them when they come across your growth. That’s why we want to point out to 3 of some of the biggest questions that entrepreneurs face when they need to generate new leads for their startup:

1. Who are they and will they purchase or utilize my product/service?

SaaS (Software as a service) providers think about this one. Not everyone that you’ll reach out in a B2B lead is your target customer. For instance, you may want to sell some trends prediction software to brokerage and trading companies. Who will you pick as a lead to approach to? Can you find his credentials easily?

Knowing who makes the purchasing decision and who actually will use the service is key in the B2B lead generation. Users influence the decision maker and vice versa. The sweet spot here is to have something that both of them would be interested in, and qualify both of them into your list.

2. Do I have the right strategy or tactic that will take me to the right leads?

The strategy that will help you find the right prospects should be the backbone of your sales process. Spending money on various strategies and tactics just to test them out will do no good for your business if you’re on a limited budget. Constant testing can eventually lead to loss of funds and no leads. And it is too risky to test in today’s market anyway.

The best lead generation tactic is the one that will ensure you and your team that you have on your list the ones that need you the most, not the ones that kind of need you. Remember, quality over quantity is the main rule when it comes to lead generation.

You can never rely on testing different tactics to generate leads for your business. Even just one quality lead found through deploying the right strategy can become your unicorn, meaning an endless source that will expand your venture a few levels up.

3. Can I track and measure the process of lead generation?

You cannot operate on hunches and intuition when your process generates data. Yes, the gut feeling can help invent and develop a solution to a problem, if you have the chops to do it. Having that instinct is very important when you need to make a decision as an entrepreneur, but the data doesn’t lie in 99% of the cases. Especially when it comes to markets and sales.

Analytics is what you need to rely on if you want to develop a solid lead generation process that will deliver the results for you. That’s why market research has become a necessity and an immensely important aspect of business. Having the right data means a bigger opportunity for you to develop a better sales funnel for your leads.

It all comes down to understanding the marketplace. The marketplace evolved so much that simply measuring just the volume of leads is not enough. Other important metrics are involved in the new marketplace today, such as Conversion Rate, Time to Customer Conversion, Cost per Customer etc.

We really hope that we made you more aware as an entrepreneur about how hard lead generation is in total, and why this daunting process of taking an interested customer and turn him into a sales lead involves some serious research and hard work. It’s such a critical process for marketing and sales success that you just can’t let any question not to be answered.

Having more questions on Lead Generation? Check out our 6-step approach for more.

As a startup, you need to think long-term and acquire customers that will prove profitable over a lifetime. You need to position your business in the most profitable space on the market and create a huge demand for your product. Alone you’ll spend a huge amount of time on research, digital marketing, testing and content creation to reach the right leads. You got to ask yourself if you’re experienced enough to do it in your startup phase. If your answer is “No” then you should consider BizzBee experts to do it for you. Leave the work to professionals while you focus on your product.

[bizzbeesolutionsblog-blog]

Don’t do these mistakes with your business plan

In one of our previous blog posts, we discussed why you must have a business plan before the start of your business as a first-time entrepreneur. You shouldn’t start a business without a plan. Costly mistake. But not just to have the plan as a necessary asset. The paper itself must worth something, instead of just romancing yourself and in front of investors.

The thing is, you’re too optimistic. You think that your idea is the best if you managed to put it on a paper. And your love towards your idea might not be what the investors are looking for. They need to know your financial projections and profit plans, not the same old “this one is going to change how consumers react” rhetoric.

Here are the most common slip-ups that startups can make when developing their first business plans:

Incompetently written business plan

Writing style is principal when putting the plan on paper. Everything is important, from grammar to punctuation and spelling. Imagine how you start reading a blog post and all of the sudden you find inconsistency in words and spelling mistakes. Doesn’t it turn you off? You want to click “Close Tab”.

Same thing happens when investors take a look at a business plan. And investors don’t have time to correct grammar mistakes. That’s why the plan can end up in the bin in a matter of seconds.

Presenting the package carelessly

Your presentation has to match with those accurate profit projections in your business plan. Make sure that you consult with an expert first before you begin creating your pitch. Keep in mind that your business plan may take months of development, but investors and venture capitalists won’t give you more than 5 minutes to present your idea. You want to be one hundred percent sure that your presentation alone will guide them through the paper perfectly and every section will be concisely explained to investors.

Missing pieces from the puzzle

You have consumers, target market, products, services, marketing, sales, management, equity, and competitors. That is the minimum. What about your market insights? Industry trends? Also, financial projections and where is the profit plus monthly cash-flow statements as well as balance sheets?

If you’ve fully understood your industry, you will have the required analysis included in your business plan, and VC’s will notice no gaps here. They’ll most likely listen to an entrepreneur that understands his target market and industry with its trends, instead of a romantic optimist.

Unclear write-up

A business plan is not a book. And you’re not Jean-Paul Sartre either. Of course, intelligent person will understand your idea, but you need to make sure that it’s acceptable to, let’s say “intelligent person with a high-school diploma that happens to be the richest investor in your market”. If you’re that expert in writing, maybe you should pursue writing career or start a Business Plan writing business, not presenting your ex. a recycling idea in a complicated manner.

Imaginary presumptions

Of course, the main assumption is that you’re going to succeed in executing your idea. The right business plan will point out to the main presumptions that are critical for the success of the idea and will offer some kind of justification for them.

On the other hand, bad business plan spreads one assumption over 50 pages and the investors can’t tell where the facts are and where the fiction of success is. And everything involves assumptions, from market size to customer’s behavior. This data needs to be as clear as your industry’s touchstones.

Insufficient research to back up your plan

It’s extremely important to have some kind of verification for your assumptions, as well as having the right research process to make sure that the facts in your assumptions are proven and true. You need to know everything that there’s to know about your industry, about your customers and their habits, as also the tactics of your competitors, and their market positioning and market share.

You can’t have a business plan without the numbers (charts and stats). Numbers are the only way to back up your market forecasts. Investors will have a look at the numbers before everything, and the numbers will prove if you’ve done your research right or not.

Asserting that your business idea is fail-proof

We already said above that you must not be too romantic about your idea. And startups need to be optimistic, it is crucial to the success of the venture. But investors know better than you that there is no such thing as “risk-free” idea.

The risk is always present. More than ever today. And you need the details in your business plan to prove that the risks can be minimized, not to promise the sky and stars to investors.

Idea uniqueness – Eliminating the competition

Investors are bored from startups that are “pioneering in their industry” and “Nobody has done this before, there is no competition” ideas.

You already have, and will have competitors. It’s inevitable in business, directly or indirectly they are breathing behind your neck, and they are right in front of you. Competitive advantage is a pivotal component that will make your business plan acceptable to investors.

As a Startup team that has a great new business idea, we advise you to not jump into business waters without a plan, or even worse: a business plan that contains one of the errors above. There are important questions that need to be answered first before you even start presenting your idea to investors. The BizzBee team of experts is here for you to help you answer all those questions and guide you through the process of successful business planning.

[bizzbeesolutionsblog-blog]

Why You Need To Outsource To Experts As a Startup

                                                                                                                                                                       Do you outsource to help your team? How good is your team? Do you even have a team? Most importantly, do you have the right person on your team? Does he got the skills to do the tasks that’ll help you scale?

To answer those questions, first, you need to thoroughly access your personnel’s capabilities and processes. Knowing what you team is good at is pivotal for the success of your business. With that kind of self-awareness, you can always bet on your strengths. And that’s how you should continue to do things, to stick with what you do best.

For example, if you have a great coder on board, stick with him. And if you have excellent salesman too, keep him and encourage him to do what he does best.

But, in order to succeed in business, it’s also very important to be self-aware. Enough to know what you’re not good at as a team. When you feel like you need a task that’s out of your team’s skills set, maybe you should consider to outsource that to experts of the appropriate fields to do it for you.

Attracting, hiring and retaining a new employee that’s an expert in something you’re not is difficult enough in today’s fierce job market. Especially if you’re a startup that’s new on the market and you’re still learning about your abilities and hiring limitations.

Most entrepreneurs out there think they can do it alone. And that they can ponder everything that comes their way with the help of their teams. Yes, you may be a talented entrepreneur and you may be an excellent project manager, but is it fair to slow down the growth of the company?

That’s why in today’s business world, it’s already a common practice for startups and established companies on the market to outsource all the workload such as virtual assistance, email marketing, development, lead generation, social media, graphic design, market research, business planning, to marketing agencies, management consulting firms and other specialized professional service companies. Technology has made outsourcing more accessible to small sized companies and made a huge impact on their growth. People work from every place in the world. We’re doing business globally today.

The modern entrepreneur understands perfectly that there are certain aspects of his business that are very important. But, he just can’t handle them on his own in that moment. With the help from remote experts, startups and small businesses can easily level up and compete with larger businesses.

Why look for experts in agencies?

Because that’s where the experts are. As a startup, it’s very hard to reach out to that small group of “experts” and “growth-ninjas”, not to mention expensive too.

On the other hand, when you approach an agency, you instantly get a team of experts. They evaluate your pain points and find the right person to help you while you focus on your core expertise. Imagine owning another team member that is in charge only for the marketing part of your startup. That’s exactly how you might feel when you’ll “borrow” someone from a specialized agency, just with a little twist.

You will not have expenses such as health insurance or bonuses as you have with your team. You’ll only need to worry if you have the budget to pay the service. As an entrepreneur, you got to be aware of  “what you pay is what you get” policy that works the same in every part of the world.

And the best part about outsourcing tasks is that there is no long-term commitment. You outsource when you need it and when the work is done, is done.

When to outsource and what are the benefits?

Our advice is to start outsourcing from the very beginning. You can start with outsourcing personal assistance to help you with your work-related tasks such as organizing meetings. You can outsource trips organization to other continents or regulation of your bank statements. All that while you’re busy develop your business and take care of the B2B segment.

Doing this kind of outsourcing correctly, it can bring a ton of benefits for a startup, including:

Fewer costs – You’ll get an expert from a certified company for a price smaller than actually hiring the team member inside your company.

Transparency – The right agency will provide you with total access to their scope of work, data, and research that they’ve done for you.

Time-Management – You save all the time that would have been spent on doing the work-related tasks yourself. And you wont interrupt other team members to do them for you. Not to mention long hiring processes, and learning a new set of skills.

Experience – Your startup will benefit from the huge experience that an expert will bring on the table, such as finding the right clients for you and creating new market opportunities.

Make sure that you’ll recognize the right partner agency for outsourcing an expert. You need a reliable agency that you can reach out to. Finding the right agency means having access to the right person that will help you grow, and eventually to the right customers for your business. You’ve got to recognize if there’s a match between what you need and what the agency as a service provider offers to you, and deploy it when you see it.

Do you have some work-related tasks that need some outsourcing? If you have more complex projects, or you need some specific skills set to do the job for you, the BizzBee team is here to help you! With our Rent-A-Bee service, we can screen our employees and offer you a dedicated in-house employee who can work on your behalf and has the expertise you need. If we don’t have that skill, and you need it for at least 3 months – we will recruit it for you. In this case, you can even be involved in the selection process.

[bizzbeesolutionsblog-blog]

7 Solid Reasons Why First-Time Entrepreneurs Must Have a Business Plan

Starting a business without a plan is the same thing as going on a journey without a sense of where you’re going.

For most entrepreneurs, a business plan is a piece of document that needs to exist only for the purpose of presenting the business idea to venture capitalists and investors. In fact, even just one page of future financial projections for your business means that you have in your hands a valuable internal information that you can use to pitch your startup.

Business plan represents a well-written document that describes your business, its objectives, and strategies, as well as the market that you’re targeting and your financial forecast. Your business plan is the road map for growth from the early-stage idea to a big company.

Good planning before you actually plunge into the market will help you focus more on the business operations, will set the tone of the business and give you bigger chances for success.

So in this blog post we want to give you 10 good reasons why you should have a business plan before the start of your venture, even if you don’t plan to pitch to investors and banks yet:

1. The Business Plan Can Map Your Growth

You started the process of being your own boss. And you want to know what you’re going to do and point your business in the right direction. Your business plan will serve you as a compass. It will keep you focused on your goals and execute them with excellence. As a first-time entrepreneur, just like a lone survivor in the wilderness, an outlined business plan will work just like a compass and map out your growth.

2. Market Insights

Insights into your target market is something that we already discussed on our blog and we will keep doing so until every new entrepreneur understands how vital this actually is.

A prior market research included in your business plan will show investors that you understood deeply your industry before you actually enter it, that you know your business will fit the market and give them the probability of success. Market insights are essential if you want to minimize the risk.

3. Business Plan Helps You Stay on Track

Good organization is necessary from the very beginning of the business planning process. Having a business plan helps you stay organized and keeps you on the right path to success. And good organization is one of the keys that will help you successfully operate your business.

A business without a plan can easily shift into the wrong direction. As a result of that shift, you’ll lose revenue and by the time you get back on track, the competition with a thorough business plan is way ahead of you, even the ones that started years after you.

4. A Business Plan Helps You Determine the purpose

Even though the primary purpose of a business plan is to showcase your idea to investors and potential stakeholders how you plan to make a profit, it’s not the only thing that matters in a business.

A good business plan will also show the reason your employees will want to get up in the morning and come to the office. So as a first-time entrepreneur, take some time to determine the core values of your future company, and include them into your strategy for success.

5. Financial projections

Figuring out the financial statements is one of the main challenges when it comes to business planning. Financial projections are just a way to predict the growth of your business. It helps you in budget preparation and set the financial goals.

The whole purpose of including financial projections into your business plan is to predict what the business is capable of when it comes to revenue and profit, including assumptions made on potential costs, market size, pricing, marketing conditions etc.

6. The Business plan keeps your Team aligned

Having a business plan is one of the best ways to make sure that everyone who’s on board stays aligned with the current and future business plan. This is very important, especially for startups that are in their early stage because everyone needs to be on the same page in terms of working together and growing the business together in the process. Putting everything on paper first is the right way to start.

7. Self-Awareness

The business plan is a great way for first-time entrepreneurs to help them declare their vision and plan for their company. Having the business plan in your hands will force you to think and develop your strategy even further. Also, the business plan will serve you as a guideline to track your progress and hold yourself as a CEO more accountable about your future steps.

This blog post was first published on our Bizz Bee Solutions Blog. If you want to read our latest blog posts and find out more about us click on the link and let us know how we can help.

Having a business plan is important because it will help you set realistic goals for your startup, it will serve as an excellent tool to secure investor funding and to establish the financial forecasts for your business and ROI (Return on Investment).

To be considered as a strong candidate for receiving investment funds, you must prove that you thoroughly understand every aspect of your business and that you know how to create profit from it.

As a first-time entrepreneur that has a great new idea, we advise you to not jump into business waters without a plan. There are important questions that need to be answered first before you even start the company. The BizzBee team of experts is here for you to help you answer all those questions and guide you through the process of successful business planning.

[bizzbeesolutionsblog-blog]

Why Is Lead Generation Important For Startups

To come up with a list of prospects that want to purchase a product sounds simple right? But we all know how difficult can be to generate leads. Real leads.

Most of the startups out there struggle when it comes to sales and reaching out for partnerships with other companies. Salespeople often think they’ve reached their maximum list of potential clients and possible partners and continue to follow-up endlessly until they get a “yes” or “no” answer. Or simply startups don’t have the right contacts to do it.

And we’re sure startups work hard. Including cold emailing thousands of companies and clients only to get a dozen as a result. It’s difficult today, especially for telemarketers to engage senior people in a conversation about a serious offering. That’s the reality in the marketplace today. Sales teams are not looking hard enough and often miss the right targets for their business.

Long gone are the days when a company started the process of customer acquiring with a huge prospect list and aggressive cold calling. Aggressive sales tactics won’t work when a nurturing approach is needed. Your potential clients are doing their own research online without you, and only lead generation ensures that you’re the exact solution to their problems.What is lead generation?

Lead generation describes the marketing process of stimulating and capturing interest in a product or service for the purpose of developing a sales pipeline. It is a pivotal step to make sure that customers and possible partners are interested in your startup.

In B2B (Business-to-business) segment, lead generation involves strategies, techniques, and ideas that help sales professionals find the decision maker’s contact details and reach out to other managers in companies that sell products and services to other companies.

How can my startup benefit from lead generation?

Times have changed. The Internet changed the whole process of lead generation and transformed the whole behavior of prospects. Today’s tech savvy and educated clients won’t even talk to a salesperson until they feel that he has done good research on them and know exactly what they want.

Lead generation is more science than art. Lead generation, like every other marketing process, is much improved with the help of advanced market research, previously discussed in our blog. Turns out, the company that researched their market the best has the best lead generation process and wins the market as a result.

It’s a complex process with concepts and services which make potential clients engage, that involves not only marketing and sales but many other areas of a company too.

The lead (qualified lead), is a prospect that met all of the agreed qualification criteria such as: the right budget, decision-making authority, need for the product or service and purchasing power. These prospects are already interested in your products and services. They’re not just looking for a way to solve their problem, they already know the way to do it, and they know you can help them.

That’s why lead generation is the most important goal of any business-to-business marketing department. It’s about helping the sales team drive results. Nothing is more important than delivering qualified leads for the sales force to nurture. Providing the sales department with a steady stream of qualified leads is job number one for any business, not just startups.

With the help of lead generation, startups can collect valuable information. Information like: decision maker’s first and last name, his phone number and email address. And the decision maker in a company is the best possible lead that a salesperson can get.

It’s all about quality over quantity. It’s not about wide reach of potential clients, it’s about getting the right clients. Better leads always trump over many leads.

Having that data about a prospect means that you’re already one step ahead of the competition. To make sure you’re way ahead, a lead generation strategy needs to be included for your startup. What can a startup do with all that data?

You need to know what you want to achieve as a startup, to clarify what are your goals. Do you want more prospects for your business? Are you trying to showcase to the executives from other companies that you’re experts in your field?

There are two ways to create a winning strategy for lead generation. Companies can rely on themselves and their knowledge or they can hire experts to do it for them.

Sometimes it makes sense to explore on the market yourself because “nobody knows your business better than you”. And you have an awesome website with SEO implemented that gets you on top of Google search results. But search engine and clicks do not buy your products. People buy them. You need to know people, the decision makers, the right people and have the right partner that’ll help you find them.

This blog post was first published on our web Bizz Bee Solutions web Blog. If you want to read our latest blog posts and find out more about us click on the link and let us know how we can help.

As a startup, you need to think long-term and acquire customers that will prove profitable over a lifetime. You need to position your business in the most profitable space on the market and create a huge demand for your product. Alone you’ll spend a huge amount of time on research, digital marketing, and content creation to reach the right leads. You got to ask yourself if you’re experienced enough to do it in your startup phase.

If your answer is “No” then you should consider BizzBee experts to do it for you. Leave the work to professionals while you focus on your product.

[bizzbeesolutionsblog-blog]

The level of complaining about luck is unacceptable. There are no excuses. Create the circumstances. Stay the course and don't forget to put in the work. 🥇

[bizzbeesolutionsblog-blog]

5 Reasons Why Market Research Is Crucial For Your Business

Every successful product or service that we use today started with extensive research about customers and competitors. Accurate and specific information about customers and competitors is the critical first step in the development of a marketing plan.

Brands and small businesses finally realized that they need to know a lot more about their potential clients, their market and their main rivals.

That’s why when you’re launching a product or you try to improve your existing service, or if you’re just looking to be a step ahead of your competitors, Market Research is the critical component that’ll provide you with all the information that you need to make a better business decision.

In spite of the fact that brands become more aware of its importance, the process of market research can appear too long and too overwhelming in the eyes of small business owners and entrepreneurs.

That’s why to clarify, even more, we outlined for you 5 things that market research can do for you in the process of product development & business growth:

1. Better understanding of your customers

Who will buy your product? Who are your ideal customer personas? How often will they buy? What do they need? What do they want, expect?

The more answers you have the more understanding you’ll get, which will result in meeting the customer’s needs better than your competitors.

Market research will help you map out the full profile of your ideal customer. Knowledge of your customers will help you determine the market size and what triggers them to buy. You’ll gain valuable insights like their age, location, gender & income, which will help you in creating effectively tailored marketing and pricing campaigns.

2. Knowledge about your competitors, and how they approach the market

Who is your competition? Someone that you know of or you don’t, is taking away your customers and wins the market. That’s because they’ve done their research ahead of you, and now you need to do the same if you want to stay in the game.

Market research will help you find out who is providing the service that you plan to offer. It will help you find out if any new competitors want to enter the market.

Also, with effective market research, you can predict what will be your competitor’s reaction when you decide to enter the market, and how your customers will perceive your product compared to the competitors.

Market research will do the job of finding weaknesses in your competitor’s approach that you can utilize to gain more customers, as well as find out what worked for them to help you think more innovatively while modeling your new strategy.

Knowing as much as you can for your competition will be crucial to the success of your business.

3. Testing your product before launch

So your product is at its final stage, and all you have to do is start marketing and sales right?

Wrong! You can still improve your product/service function and appearance based on customers user experience and testing.

You can never be 100% sure that your product will instantly connect with your potential customer. With market research, you’ll find out what approach you should take when marketing the product and find the key message that resonates with clients.

4. You won’t go out of business

“It is not the strongest or the most intelligent who will survive but those who can best manage change.” — Charles Darwin

We’re not exactly sure if Darwin did some market research in his free time, but his words are so important and still echoing today in possibly the most innovative era in the history of mankind.

We all saw how giant brands like now-bankrupt Blockbuster, and Nokia that still struggles to get back in the mobile game failed in their market predictions and are nearly forgotten by consumers today.

Netflix and Apple did their market research right prior of any other competitor and utilized every open gap out there.

So in order to remain in business and stay relevant, you should not only anticipate change, but you need to be able to predict change too. That’s how good your market research needs to be!

5. Business growth

It takes time to build stable revenue, but as entrepreneurs at some point, you’ll need to take your business to the next level. Suddenly, you’ll face more competition and lower sales, while on the other hand some of your competitors will have fewer problems.

Market research is the basis that has to be included in your growth strategy, so you can capitalize on the market opportunities that you’ll discover. It will help you develop a new product, better pricing plan. You’ll discover new market segments and new distribution channels.

Identifying problems before they happen is crucial if you want to grow. The effective market research will help you predict some of the pitfalls that can occur during the growth process and save you a lot of money in the process. Your solution may look like a proper market fit, but if it’s not the case, you’re in big trouble. The process of market research itself is designed to reduce the risk and to make the marketing strategy cost-effective for your business.

In conclusion, Market Research provides us with important information to help us identify and analyze the market needs, our customers, and our competitors.

We hope that this information helped you understand better why Market Research helps companies in making better decisions when they develop and market their products, as also achieving business growth.

You want your competitors to “eat dust”, so it’s very important to have the insights, to know how to strategically position your business in the marketplace.

This post was previously published on our web blog, where you can read lot more about Startups tips and Entrepreneurship advice.

If you are an Entrepreneur that wants to start a business or own a company that wants to expand, wants to successfully identify trends and competitors and better understand his clients but still not sure where to begin, BizzBee is here to guide you through the steps that will help you differentiate from your competition. Our expertise is in working with Entrepreneurs and Start-ups and we can guide you throughout the entire process.