fbpx
Connect with us

Entrepreneurship

Taking the Inside Lane: How to Drive a Startup to Success

Published

on

It begins with an idea. You’re passionate about it, you’ve researched and planned, you believe there’s a market for it, you’re convinced you can succeed…then the real work starts. And that’s where most new businesses fail. In fact, around 60% of start-ups fail in the first 3 years. It’s not always the obvious things, like lack of proper planning, or lack of business acumen. Instead, it’s often surprising things that could have avoided if the person driving the business knew before they started. If they’d only talked to someone who could’ve given them the insight they needed! But fear not – here are three insider tips from Bogdan Stevanovic, serial entrepreneur and founder of digital marketing agency, Aquare, that might just save your new business…

 

Value the data

 

According to Bogdan, many new companies fail because they don’t focus on, and properly use, the one thing that can tell them what’s working and what isn’t – data. “Even if it’s just something as simple as reviewing their website analytics”, says Bogdan, “a new business that incorporates data as a core part of their business strategy will have a marked advantage. If they’re doing any kind of sales online, then data needs to be their best friend. I’ve worked with many businesses who had previously wasted huge amounts of money on digital marketing campaigns that simply weren’t converting to sales because they didn’t understand their data.” If you’re not in tune with your data, then there’s an abundance of data-related training courses and platforms out there. Better still, hire an agency that specialises in it.

 

Fail fast, fail frequently

 

How many people do you know who say, “I’ve got this great idea for a business”, but never actually start one? Most of the time it’s because they’re afraid of failing. This is the wrong mind-set. Bogdan himself discovered this at a young age: “Some of my earliest projects were complete failures. I figured out quickly that if I didn’t embrace these failures and learn from them I would never be successful. When starting a business, you need to allow yourself to fail. Steve Jobs was pushed out of Apple before he returned years later to turn it into one of the biggest companies on the planet. And Walt Disney was fired from a Newspaper job for ‘not being creative enough’!”

 

Understand the market

 

This sounds like an obvious one, but too often entrepreneurs pour all their time into developing and strengthening their company’s value proposition (product, service, or offering) and unique selling point (USP). But Bogdan says, “Rather than just concentrating on what the customer wants, business leaders need to understand and adapt to their competitor’s propositions. When we work with our clients we look for, and keep abreast of, what their competitors are doing online. From search engine optimisation (SEO) to pay-per-click advertising campaigns (PPS) we use that data to make sure that our own clients stay competitive and ahead of customer behaviour patterns.

 

Whatever your business, if you’re serious about making it a success, any insight you can get from someone who’s done it before you is worth listening to; as any entrepreneur will tell you, there’s no business idea or strategy that’s a ‘sure thing’. Hopefully the tips above will swing the odds a bit more in your favour!

 

If you’d like to know more about Bogdan’s story, and get more insider tips, check out his blog and website stevanovic.io, or visit aquare.com for info on his full service digital agency.

Karishhma Mago is a former investment banker turned digital marketer. She has been in the digital marketing industry for over 6 years and has worked with clients across different sectors including Volkswagen Finance, Natera, Reliance, Standard Chartered amongst others. She has also done special content projects for Facebook. Karishhma is also a Wikipedia editor and has created over 300 pages for her clients. After founding Facilius Inc in 2014, she has helped grow the company from a two-person team to a dynamic team of 30 people.

Become A Crypto Expert

Categories

Recent Stories

Trending


Copyright © 2022 Disrupt ™ Magazine is a Minority Owned Privately Held Company - Disrupt ™ was founder by Puerto Rican serial entrepreneur and philanthropist Tony Delgado who is on a mission to transform Latin America using the power of education and entrepreneurship.

Disrupt ™ Magazine
151 Calle San Francisco
Suite 200
San Juan, Puerto Rico, 00901

Opinions expressed by Disrupt Contributors are their own. Disrupt Magazine invites voices from many diverse walks of life to share their perspectives on our contributor platform. We are big believers in freedom of speech and while we do enforce our community guidelines, we do not actively censor stories on our platform because we want to give our contributors the freedom to express their opinions. Articles are not commissioned by our editorial team, and opinions expressed by our community contributors do not reflect the opinions of Disrupt or its employees.
We are committed to fighting the spread of misinformation online so if you feel an article on our platform goes against our community guidelines or contains false information, we do encourage you to report it. We need your help to fight the spread of misinformation. For more information please visit our Contributor Guidelines available here.


Disrupt ™ is the voice of latino entrepreneurs around the world. We are part of a movement to increase diversity in the technology industry and we are focused on using entrepreneurship to grow new economies in underserved communities both here in Puerto Rico and throughout Latin America. We enable millennials to become what they want to become in life by learning new skills and leveraging the power of the digital economy. We are living proof that all you need to succeed in this new economy is a landing page and a dream. Disrupt tells the stories of the world top entrepreneurs, developers, creators, and digital marketers and help empower them to teach others the skills they used to grow their careers, chase their passions and create financial freedom for themselves, their families, and their lives, all while living out their true purpose. We recognize the fact that most young people are opting to skip college in exchange for entrepreneurship and real-life experience. Disrupt Magazine was designed to give the world a taste of that.