Starting your own business is an exciting time and you should revel in the exhilarating thrill of your new possibilities. Many entrepreneurs never experience the jubilation of opening the doors to their business for the first time. If you have gotten to this point, you are doing something right. Enjoy the moment.
When is too much of a good thing – too much? This is the question any business owner who is considering expansion must deal with. For some of you, expansion may mean opening a store at a second location; while for others, expansion may mean tens or even hundreds of new stores. For those owners, the question becomes, is it better to have 10 exceptional stores or 100 marginal ones? That is the type of question that is currently plaguing the popular coffee chain Starbucks.
Ask several businesses to define their target market and you’ll likely get a variety of answers. Some have a clear idea of who they are targeting their goods/services to, and some are completely unaware. Many businesses believe their target market is “everyone,” which is an impossible scenario. No business can target everyone. In fact, those that do are usually the ones that fail.
When Facebook launched in 2004, it was a social networking service designed to connect friends and like-minded individuals. In 2017, however, the site has become much more. Businesses that understand the power of Facebook are those that can tap into an entirely new marketing technique, one that has proven results.
In late April, President Donald Trump unveiled his tax plan, touting it as, “the biggest individual and business tax cut in American history.” So, what exactly is his plan and how would it affect small business? Industry officials have been taking apart the plan for days, analyzing it from every possible angle. Although the long-term implications of the plan are up for debate, short-term impacts are obvious.
Changing the name of a brand is a major decision that can have a colossal impact on its success. There are a variety of reasons why companies change their names, from shedding negative connotations of their business, to appealing to broader audiences.
In 1909, Gugliielmo Marconi received the Nobel Prize for the invention of the radio. It wasn’t until World War I, however, that the radio became a medium of mass communication. In doing so, a new method of advertising was born. According to A Brief History of Advertising in Americaby William O’Bar, “few innovations transformed the nature of advertising as fundamentally as the radio. Only the Internet would prove so revolutionary.”
To be successful in today’s business environment, you must be equally adept in the digital world as in the physical world. Whereas the business model of the past existed from 9 to 5 in an office, today’s model knows no such boundaries. A successful business today operates 24/7, spending much of that time in a virtual world that can often feel overwhelming.
Brandroot Latest Posts
Brandroot focuses only on content related to business naming. Before selecting the name of your venture it is important that you have a solid grasp of what you're in for.
- This Toxic Mindset is Holding Your Brand Back: Here's How to Fix ItWritten on Friday, 21 September 2018 18:39
- 2 Major Reasons Why Entrepreneurs Should Be More Like TeachersWritten on Monday, 17 September 2018 17:49
- 5 Indispensable Apps to Help You Create an Unforgettable BrandWritten on Friday, 07 September 2018 21:23
- As an Entrepreneur, Your Customer Is Your Boss. Here’s WhyWritten on Tuesday, 04 September 2018 21:10
- Forget The Pivot, Go With A RebrandWritten on Thursday, 30 August 2018 21:28
- What These Y Combinator Startups Can Teach You About Creating An Unforgettable Brand NameWritten on Sunday, 26 August 2018 21:25
- How to Create a Loyal Community of Customers For Your BrandWritten on Tuesday, 21 August 2018 22:20
- The Impeccable Guide on Finding & Mastering Your Brand Voice & Why It MattersWritten on Thursday, 16 August 2018 21:11