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How to Build a Disruptive Technology Startup?

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The Tech industry is one of the biggest markets right now. More and more pioneering people are drawn in this industry because of its excellent business potential. Here’s a thing about startups: the majority of it falls during the first year, as reported by Forbes. Those startups that survived can still fail during the first three years.

The modern market is known for being a harsh environment for startups. Even the most talented innovators and the greatest ideas can fail. You need both talent and luck to get ahead of competitors and own a big chunk of the market. In this volatile and competitive industry, how can the big names manage to stay in the game? 

No formula is the same in each product, but there are a lot of things that are similar in good management. Disruptive technology startups are those that understand the trends, ride it, and position their company to a better market position. Here are some of the tips that you can follow to create a disruptive tech startup that will change the world. 

8 Tips to Follow For Disruptive Technology Startup Success

  1. Know Your Market Base

If you don’t know and acknowledge the need for your market base, then how would you create better and valuable products? Even if you can develop the best quantum software in the world, that means nothing if your market share doesn’t use quantum devices. Get feedback from your customers and incorporate this criticism into your product. 

 

This doesn’t mean that you’ll only listen to your customer’s demands. For example, nobody knows that they wanted an iPhone until the product was introduced in the market. When innovating a new kind of product, make sure that you incorporate the interest of your market base. 

  1. Create Unique yet Useful Products

Another essential factor to consider is creating unique, yet highly useful products. When Apple launched the iPod in 2001, it was a unique yet usable product. Users can see themselves using the product. Meanwhile, in 2016, Juicero launched a unique juicer with so many functions that don’t have value when it comes to user experience. Before working on a new product, try to put yourself in your customers’ shoes and ask, “Will this be a useful purchase for me?” 

  1. Dedicate Your Time and Effort to the Plan

No matter how talented and lucky a person is, a startup will still fail if the talent is not backed with time and effort. Each startup cannot take off with half-baked plans and short-term efforts. When launching a startup, you need to dedicate all of your effort and time to grow your company. Don’t forget to be efficient; use your time and energy wisely. 

  1. Stay Tuned On News for Latest Tech Improvements

Did you know that automation started having an impact on the tech world in the last few years? Since then, early adopters have been able to utilize automation for their growth. Knowing the latest tech improvements will enable you to plan. The next big technology can just become your company’s ally or demise. 

  1. Ignore Unhelpful Criticism

A lot of tech companies were able to thrive for decades due to owning up to its mistakes and receiving helpful criticism. However, as an innovator, it is normal to receive criticisms that are not helpful to the product. In this case, please ignore these naysayers and focus on improving your product or service that you offer. A good leader knows when to shut people up without using anything but results. 

  1. Get the Right People and Apps 

Efficiency is another essential factor in tech startup’s success. A modern organization has different divisions which consist of diverse teams and experts. In tech, getting the right person who can do the job correctly is very crucial, as it increases efficiency and effectiveness in the workplace. There are times when using apps can help in saving resources and boosting productivity, so take note of these possibilities, too. 

If you’re hiring a contractor for a task, make sure to use a reliable freelancer time tracker. This is especially helpful if you manage a team of people who works remotely. Time trackers can also give you an insight on how to finish a project in time and within the budget frame. 

  1. Quality Is Better Than Quantity

Did you know that before Pixar grew into a computer animation giant today, they had to swallow up a decade full of losses? Indeed, the company managed to stay afloat during its first decade of operation because of Steve Jobs’ funding. Later on, the company was bought by Disney after its success in creating Toy Story. 

How did the company manage to snag success? By maintaining quality instead of quantity. Toy Story wouldn’t be a big success like it is today if folks from Pixar decided to lower the animation quality. Continue innovating until the right break comes on your way. 

  1. Always Take the Risk

Last but not least, when you’re trying to make a disruptive technology startup, don’t be afraid to take a reasonable risk. You can’t reap any rewards without taking any risk first. Make feasible decisions, create doable plans, and always try to innovate and disrupt. Who knows your startup can be the next big thing in the tech industry. 

If you follow at least our eight tips, you can build a disruptive technology startup. Share your tips in the comments if you have experience in building a technology startup.

Author’s BIO: Lori Wade is a journalist from Louisville. She is a content writer who has experience in small editions, Lori is now engaged in news and conceptual articles on the topic of business. If you are interested in an entrepreneur or lifestyle, you can find her on Link

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Want to start a creative events business in 2021? Here’s how

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Want to start a creative events business in 2021? Here’s how

Though it might not seem like it, now is a great time for event planners. After a year of social distancing guidelines being enforced throughout the world, no one quite knows what to expect from the events industry as it begins to resurface. 

And that means that event planners can take advantage of this uncertainty and carve out fun new ideas and businesses, using this time to try out new things and see what sticks. 

So, what businesses will be right for you? That depends on what you’re interested in and how serious you’re willing to be. There are many creative event planning business ideas out there, and you can find your niche by thinking about what you want, what people want and what you can reasonably do. 

For example, if you are interested in cooking or baking, you could develop a food truck or catering business that serves meals in prepackaged containers. Or if you love photography, you could start up a photobooth that captures priceless party memories. 

A few other event industry business ideas that you could start up include: 

  • Live-stream service for weddings and parties
  • Camping excursion planner
  • Picnic planner and games coordinator
  • Outdoor scavenger hunt maker
  • Outdoor dance floor builder 

Each event industry business requires different skills and experience levels, from being outdoorsy to being able to build and take down equipment. With so many different skills needed, there is an event business out there for everyone. 

Want to start a creative events business in 2021? Here’s how

But once you’ve decided on your business idea, it’s time to get to work. The first steps to creating a successful events business are picking a name, developing your branding and registering your business with your local government. All of these are crucial to get your business legitimized and ready to operate. And to keep track of these logistics, we’ve included an event planning startup checklist that includes everything you’ll need to do.

From there, it’s time to get ready for an event. You can drum up business by networking online or attending trade shows to advertise your offerings. Make sure you showcase your value and present yourself as professional and ready to host your first event. And once your first date is booked, you can use this events checklist to keep track of day-of logistics and needs.  

At the end of the day, the key to launching a successful events business is the motivation to make it happen. This is a great time to explore your possibilities and get ready to make your way into this fun, exciting industry. 

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How to Train Your Managers (and Why it’s Important)

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How to Train Your Managers

Having a great manager (not just an okay one) is so important to a business’s success. You will find that your employees work a lot harder when they have a great manager, because they want to impress, they want to help, and they do not want the business to fail. For information on training mangers, a useful link is: https://www.efrontlearning.com/blog/2019/02/how-to-train-managers.html. This will provide you with an overview of what is involved. To get it wrong will impact on staff engagement, performance, and retention.

Educate Them on the Importance of Their Role

To educate managers, there are textbooks, online resources, seminars, and eLearning courses available. These can bring a manager up to speed with not only tried and tested methods of management but also with the very latest methods. Training methods that are digital and more relevant to today’s business world. New managers can learn from already experienced managers and how they best achieve their results for their respective companies. Equally, managers can learn through good and effective training, targeted to their needs and that of their company. The best managers increase the motivation and mood of their staff on a continual basis, which in turn, increases their company’s productivity.

Offer Training

Training such as new managers training can be provided in-house, and be even more effective and targeted through the use of external training agencies. It can be a very effective conducted by specialists in this area, who know not only what it is like to be a new manager, but the skills that can make for an effective manager in the long term. Much can be learned from the experiences that former managers have faced in a variety of different types of businesses. To not offer a manager training is to allow them to fail. To not provide them with the tools for success is to make their progression slower and less effective, for themselves and those that they are managing. Management training is not only about training others but how to train those responsible for the training.

Encourage Them to Practice, Reflect, Learn and Repeat

The best way for a manager to learn is to continue practising their skills, to think about the result the skills are having on the staff and the business itself. Continuing to repeat these skills, the rights skills, can only improve them until they become second nature. That is, not to practise until you get it right, but to the extent that you cannot get it wrong. Skills such as: communicating effectively with staff, planning the progression of staff, the ability to delegate the work in an effective manner. In addition, the manager will need to learn skills in problem-solving and motivation. There are tricks to be learned, to be known. An effective leadership course can teach managers these skills initially, so that then be refined through constant use and monitoring of their effectiveness. It is not enough to put into practise these skills once, they have to be carried out several times to check their effectiveness on different groups of staff, who are likely to respond in different ways and with different results.

Conclusion

So, with much to consider, it is in the first instance necessary to recruit flexible managers who are going to respond to training. Managers who are not too fixed in their ways of managing for other companies that they cannot respond effectively to a new training scheme. Then, they need to be aware of exactly what their new role encompasses. This should next lead to an effective training scheme that they are going to engage with, as their staff will ultimately engage with their management approach. During completion of the training scheme, it will be a matter of continual practice, but the results will be rewarding.

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What’s Amazon ASIN And How Do You Get One? Here’s Everything You Need To Know

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What’s Amazon ASIN And How Do You Get One? Here’s Everything You Need To Know

Amazon is the world’s leading online marketplace. According to Statista, they have 213.4 million unique website visitors each month.

That’s a lot – accordingly, it’s no big surprise that every merchant wants to sell their products through Amazon.

If you also want to sell your products on Amazon, you need an Amazon ASIN.

But what is an ASIN?

ASIN means Amazon Standard Identification Number. It is an Amazon internal number that helps them keep track of your products.

Every product on Amazon has a unique Amazon Standard Identification Number.

In this article, you’ll learn everything about Amazon ASIN – what it is, why you need an ASIN and how to get one.

What Is Amazon ASIN?

ASIN stands for Amazon Standard Identification Number and it’s simply the product identifier used by Amazon. A product identifier is a scannable number like a UPC (barcode) to identify a product.

If you don’t know what’s a UPC, here’s an example of it:

What’s Amazon ASIN And How Do You Get One? Here’s Everything You Need To Know

ASIN is Amazon’s internal unique identifier to keep track of all the products sold on Amazon. With over 2,734,713 active sellers on Amazon, it would be impossible if every seller has their own unique identifier for their products.

There’s only one exception – if you want to sell books on Amazon, you don’t need to have an Amazon ASIN. That’s because every book has it’s own ISBN as an identifier. Amazon uses this ISBN to identify books, they don’t use their own ASIN.

I really don’t know exactly why, but I think it’s because Amazon started as an online bookseller in 1995.

When Do You Need An Amazon ASIN?

First of all, if you want to sell your products through Amazon, you need an Amazon ASIN. You need one unique ASIN for every product you sell on Amazon.

Second, if you sell the same product on two different marketplaces – for example, Amazon US and Amazon Germany, you need two different ASINs.

If this in case, you need two one ASIN for the US marketplace and another one for the german Amazon marketplace.

The next thing is that you need different ASINs if you sell variations of your product. If this in case, you will need a parent ASIN for your initial product and different child ASINs for all your variations.

For example, suppose you sell a T-shirt in different sizes. You need an ASIN for the first product – the T-shirt – and further children’s ASINs for all variations, e.g. for a blue, yellow and pink shirt.

  

When You Don’t Need An Amazon ASIN…

If you want to sell a product that’s already on the Amazon marketplace, you don’t need to register a new ASIN because every product that’s sold on Amazon already has one.

If this is the case, you only need to research the ASIN. If you don’t know how to find the ASIN of a product, read on, I will explain in the next chapter how to do this.

However, if you’re a new seller and want to sell a brand new product on Amazon, you’ve to register a new ASIN for that product.

What you need to know is that there’s a limit for new sellers on how many new ASINs they can create. If you want to create more ASINs in the near future, you need to sell more products and increase your sales on Amazon.

I highly recommend checking out this site to find out more about Amazon’s restrictions on the creation of new ASINs.

How To Search For A Product’s ASIN

Looking for a product’s ASIN on Amazon is super easy. All you have to do is to search for the product on Amazon.

Then, navigate to the product detail page and scroll to the end of the page.

You will find the ASIN of the product at the end of the listing with the product information.

But there’s another opportunity to get a product’s ASIN even faster. What you can also do is to take a look at the URL entry of your browser:

The ASIN is usually at the end of the URL of the product page. Just make sure that there’s no referral code and you’re good to go.

How To Get A New ASIN

If you’re starting as a private label seller, you will probably sell a product that nobody else sells on Amazon.

If this in case, you need to create a new Amazon ASIN so that Amazon can identify your product.

But you only need to do that if you sell a unique product under your own private label brand.

If the product you want to sell is already on Amazon, you don’t have to create a new ASIN.

Here’s how to create a new ASIN for your product on your own:

First of all, you need a GTIN (Global Trade Item Number) for your product.

What is a GTIN?

Global Trade Item Number (GTIN) can be used by a company to uniquely identify all of its trade items. GS1 defines trade items as products or services that are priced, ordered or invoiced at any point in the supply chain.

Source: GS1

Where do you get a GTIN?

You can get it from the GS1. The GS1 is a worldwide organization which distributes GTINs, UPCs or ISBNs.

There are different packages and you should choose a package that isn’t too expensive but fully suits your needs.

There are a lot of online sellers that also sell GTINs. However, I highly recommend not to buy a GTIN from another seller than the GS1 since it will only make you problems in the future – trust me.

Once you have a GTIN for your product, it’s relatively easy to get an Amazon ASIN.

All you have to do is to head over to Amazon Seller Central and click on “Add a new product” and then on “Create a new product”.

Then, you’ve to upload your product’s GTIN and Amazon will automatically generate a new ASIN for your product.

Conclusion

It is necessary to have an ASIN to sell on Amazon. However, you only need to create a new ASIN if you want to sell a product on Amazon that does not exist yet.

Anyway, taking care of the ASIN is only an administrative task. Focus more on increasing your sales to succeed in the long run.

About the Author

Moritz Bauer has over 5 years of experience in eCommerce and Marketing. On his blog smartminded he writes about Amazon FBA.

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