Top Advantages of an Esports Business

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StrategyDriven Starting Your Business Article |Esports Business|Top Advantages of an Esports BusinessThe modern world has opened all sorts of different business opportunities that are worth exploring and discovering more about. Esports is a field that has been taking off in a big way over the past few months and years. So, if you are considering getting started in this sector and would like to know more about it, here are just a few of the main advantages that are all worth bearing firmly in mind.

A Growing Industry

To begin with, it is clear to see that esports is a growing sector and one that seems to be always moving in a single direction. Revenue continues to increase, thanks to the number of people who have discovered it, as well as the range of businesses that have opened up off the back of it, from management agencies to a platform for betting on lol. At the same time, the number of players and teams is also on the increase, as well as the advertising dollars that continue to flood in. Of course, this opens the additional disadvantage of meaning that you are going to be up against a whole heap of stiff competition, but if you are prepared with a clear strategy on how you are going to deal with all of this successfully, you can certainly put yourself in a strong position.


A Large Increase in Viewing Figures

All of the statistics seem to point towards viewing figures being on the rise in the world of esports. Essentially, this means that if you are looking to launch a business that deals in the area in one way or another, it is going to be more than likely that you will be reaching a larger and larger audience. A big part of this comes down to the fact that esports is becoming more and more sophisticated. At the same time, there is also a growing number of people around the world that can access and enjoy esports from wherever they are located. Many people who have always been put off traditional sporting endeavours do not find that the problems are the same in the world of esports.

Lower Start-Up Costs

While many traditional sporting businesses are going to require a significant cost investment for them to achieve the level of success that they are looking for, this is simply not the case in the world of esports. Of course, this does not necessarily mean that everything is going to come with no price tag attached at all, but online businesses tend to be cheaper to start that their real-life counterparts.

So, if you are thinking of getting involved in the world of business and esports, these are just a few of the main advantages that you can expect to receive. Ultimately, this is a sector that seems to be moving in a very clear direction now – and it is on the up. It’s a great time to get involved with this exciting industry that’s going to continue to grow.

Want to Start a Successful Dropshipping Business? Here’s What You’ll Need to Do

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StrategyDriven Starting Your Business Article |Dropshipping Business|Want to Start a Successful Dropshipping Business? Here’s What You’ll Need to DoDropshipping is a very popular business model for beginners in e-commerce for many reasons. It allows them to start a business on pennies with no inventory. They can also fail without too many risks.

With that being said, many people get burned with this model because of false expectations. One of them is that managing this type of business is easy or that you can grow one without spending money on marketing. In this article, we’ll look at some of the things you should know and do if you want to be truly successful with dropshipping.

Some Niches are Toxic

Many people will look at niches and assume they’re good without actually knowing if they are or not. They might go into a niche like clothing for instance, not realizing how much of a pain returns can be. Or they choose to sell in a niche where people are prone to asking questions and get overwhelmed by all the customer service work they have to do.

This is why you need to start with simple niches with items that are not too personalized. Kitchenware is one example. Pet toys are another. Don’t pick a niche where minor discrepancies with images could cause problems, and don’t pick technical products unless you know about them inside and out.


You Need to Learn about Online Marketing

You cannot use the build it and they’ll come mentality when it comes to ecommerce. You also can’t expect to see people come flocking to your site because you posted a few product pics on Pinterest or Instagram. You will need to learn about things like SEO, PPC, email marketing, content marketing, and inbound marketing if you want a chance at succeeding.

SEO is the first technique you need to focus on. If you want to make things easy for you, then it could be a good idea to work from an SEO-friendly platform like Spotify. Then, consider hiring an expert to help you increase your visibility on search engines by using various techniques like link building through content marketing. If you want to learn more about the benefits of hiring a Shopify SEO expert, you can check out https://renaissancedm.com/shopify-seo-expert/.

Automation is Key

You may be able to manage your dropshipping site with an excel sheet at the beginning, but you can expect to get overwhelmed with all the orders and customer interactions after a while. You may also start struggling with invoices and tax reporting.
This is why you will need to look at and learn automation tools before you even get started. You’ll need to use a CRM to manage conversations and queries from clients. You’ll need automation to send confirmation after payments and after items have been shipped. You’ll also need to operate your back office to facilitate bookkeeping and accounting.

Dropshipping can be a great sector for people with little to no experience doing business online. You do have to know that it comes with very specific challenges, and you have to be thoroughly prepared for them if you want to succeed.

The Best Mindset For Starting A Business

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StrategyDriven Starting Your Business Article |Business Mindset|The Best Mindset For Starting A BusinessWhen you are thinking about starting your own business, there are so many things that you will probably want to make sure you get right about it. However, much of that is going to be simpler to achieve if you are at least approaching the whole situation from the right point of view. But what does that mean? In this post, we’ll look at this in more detail, including some information on the kind of mindset that generally helps entrepreneurs to succeed with their business ventures. You should find that these are really worthwhile things to bear in mind.

Positivity & Hope

Arguably the most important element to the right mindset in business is that it has a decent amount of positivity and hope. The more positive you generally feel about the business, your own abilities, and so on, the better, so this is certainly the kind of thing that it can be helpful to have a lot of. That is of course easier said than done, but as long as you practice being positive, you’ll actually find it happens a lot more easily for you. You can then build on that in the future more and more.


Willingness To Learn

Being willing to learn is likewise very important. As long as you are happy to learn again and again and at all times, that is going to mean that you have a much better chance of actually doing well in your business, which is obviously what this is all about. In particular, you need to be open to different ideas about how to start a business, how to run a business, and what counts as success and failure. This is something that can really help a lot, so it’s vital that you are happy to do it as best as you can.

Acceptance Of Bad Moments

There are always going to be bad moments along the path of building a business. That is something that every other business leader in history has experience, and it’s really just part and parcel of how running a business goes. So the thing to remember is that you need to accept those moments as fully as possible, so that you can move beyond them so much quicker and easier. If you are able to do that, it’s really going to help you out a lot in terms of having the ability to carry on.

Keen To Help People

Most good businesses are offering something that helps people. You might want to earn a profit and be the best in your field, but you should also, hopefully, be driven by a genuine desire to make something easier for people. As long as that is the case, it’s going to mean that your ability in business is a lot easier, and that you feel a lot better about how to run your business too. All in all, this turns out to be a very important part of being a business owner, so it’s something to remember.

How to Make Your Tech Startup Attractive to Venture Capital Investors

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StrategyDriven Starting Your Business Article | How to Make Your Tech Startup Attractive to Venture Capital Investors

Venture capitalists and tech startups are often inseparable. Venture capital investors provide tech startups with financing to facilitate their growth. Below is a list of proven ways to raise venture capital for your tech startup.

Sell Your Idea

Tech companies produce unique services and products, but it’s not always easy to assess the impact they may have on the world. It would help if you pitched your idea well to capture the attention of venture capital investors. Ensure you develop a plan to have venture capitalists on board to facilitate the growth of your tech startup. Brad Kern says you should explain what you’re offering and why your idea is ground-breaking to improve the chances of securing venture capital. If you aren’t a salesperson, ensure you hire an expert who understands your products and can describe the product’s unique qualities.

Show That Your Tech Startup Is a Money Spinner

The primary goal of a venture capitalist is to invest in businesses that promise an excellent return on investment. Most venture capital investors finance a venture for four to six years. When the grace period expires, most venture capitalists want to leave with extra cash than the one they invested. It’s a considerable risk, so most of them do due diligence on your business before releasing the funding. Ensure you prepare thoroughly by crafting an effective business plan before approaching venture capital investors.

To secure venture capital for your tech startup, you must develop a long-term business plan and reveal it to potential investors. Develop financial predictions, updated accounts, and a comprehensive business model showing how your tech business will grow within a few years. Venture capital investors will assess how you intend to secure your intellectual property rights for the hardware or software you intend to produce.


Reveal That You Are Aware of Your Competition

Whether developing recyclable electric car batteries or boosting the autonomous vehicle market, there are other startups that always solve the same problem in this industry. Ensure you’re upfront regarding your competition to have the upper hand. You must show why you think you should be the first to exist comfortably or the first to market the products to ensure they remain competitive in the market.

Demonstrate the Strength of Your Team

Your service or products may be excellent, but you must show that you have a solid management team that will drive your tech startup to become a market leader. Employ effective and clever marketing techniques to position your products above competitors. Venture capital investors will assess whether you have a winning team knowledgeable on multiple ways to network and create value for your products. Venture capitalists will likely participate in your board of management meetings, and some want control over your startup operations. They will want to work with a solid team that is promising before they invest their money. If you seem too controlling, you may put venture capital investors off.

Identify Venture Capitalists

Review the websites of venture capital firms to establish whether your tech industry will attract prospective investors. Assess the investment criteria and areas of focus of potential investors. Some VC firms have mandates barring them from funding industries outside the target industry. Ensure you seek venture capitalists who have interests in your field.

Venture capital investors tend to invest their money in tech businesses. Follow the listed tips to improve your chances of securing venture capital investors.

How to Reduce Startup Costs in a Small Construction Company

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StrategyDriven Starting Your Business Article |Reduce Startup Costs|How to Reduce Startup Costs in a Small Construction CompanyThe startup costs to any business can be huge, but in the construction industry, they can be eyewatering. Here is a quick guide on how to reduce some of these costs so you can have a better balance sheet at the end of year one.

Rent Machinery, Don’t Buy

Any construction company will need a selection of machinery, powered tools, and vehicles to get its jobs done. These are some of the most expensive items on any startup construction company’s budget. You can save a huge amount here that you can reinvest in other areas by renting your equipment. For a clearer picture, take a look at low-cost forklift rental Springfield MO for big savings on your day-one expenses. Taking advantage of rental opportunities can save your company thousands of dollars a year, which can be vital to your year-one survival.

Track Every Cost and Asset

Construction sites have a lot of moving parts, and construction companies are no different. On any given workday you are going to have valuable supplies, equipment, and workers moving around different sites. Keeping track of things is important to prevent losses and waste. These two factors will be the big drains on your operational budget. Know where things are and where they are going. In the construction industry, good logistical management is good financial management.


Work with an Accountant

Though they come at a cost to your budget, an accountant will save you money in the long run. Not only do you get to delegate a time-consuming task to them, but they also have the experience and knowledge needed to take advantage of tax incentives and deductions. An experienced construction accountant will streamline your accounting process and ensure you are getting the most you can from tax fillings. The time and money they can save a startup should not be underestimated.

Buy Common Supplies in Bulk

The savings available on bulk buying supplies can be vital to a startup construction company. You can get a steep discount on many of your regular costs, and you can save time too. You do not have workers waiting around for deliveries if you are in control of their supply line. Time is money in construction, and any time you can save is money in the bank. If a delivery from a supplier to a site is delayed, it can cost you hundreds of dollars in lost man-hours. Buy in bulk, store your supplies, and distribute them to sites yourself.

Hire the Right People Even at Added Cost

Labor is your most important resource on a site. Hiring the wrong people, or inexperienced people will lose you money in the long run. It is worth investing in people just as much as it is worth investing in bricks, mortar, and machinery. Take care when hiring and do not let being a startup make you settle for anything less than the best. Your business deserves it.

Follow these five tips and you will be on the road to success. The first year is always the hardest so you need to do everything you can to save money and hit the ground running in year two.