Based on the expert point of views, Andrew Allision,
Christopher Hann, and Derek, I found 1 very interesting start up strategy, that
is do not worry too much about the competitors. From my experience, my current
company seems to worry so much about the competitors. We spend almost half of
our working day studying competitor’s marketing strategy. We could have spent
those half a day on developing our own marketing plan. Instead of moving ahead
of our competitor, we are actually falling behind, since we are working to
resolve what our competitors are doing to attract viewers and customers.
I also found that today, technology has become so advanced
and people can start business with little capital need. Opening a retail store
can be simple and start at home with less equipment need. For example, The
article from entrepreneur by Intuit mention about the retailers equipment need
to run a business can be simplify by using Quickbooks
Point instead of a traditional cash register, click here
to see full detail. Retailer can make sales everywhere because this system can
be set up on mobile device.
What inspired me about creating business in online business
is The Zappos Company. This company runs their business online and grows
quickly. The 60 minutes show, click here for the video
link, gave me an idea about creating an online store without much need of large
sum of capital need. My idea is to create an online store and rent storage to
keep the products saves and clean. It is worldwide and cost effective.
Yes! Worry about the competitors, but do not put too much
effort into the competitors’ marketing style. Observe what they are doing and
develop idea. Do not try to beat them in every step they are taking. This is what
I have learned from the expert point of views.
Apple has the product called Square
Stand, it works the same way as a cash register but it is working in a
combination of the iPad. Merchant can swipe card and create sales register
machine for little low as $299.95 per unit. Merchant can also take the iPad and
create sales offsite.
The article from entrepreneur.com by Catherine Clifford, http://www.entrepreneur.com/article/226874,
also mention about using iPad to create point of sales and save over
$200,000.
This mobile point of sales system can work in the business
plan and develop cost saving start up capital for new business generation.
Technology helps new entrepreneurs establish business with lower risk than the
past.
The most important part of the business plan is to survive
and minimize the start up cost as low as possible. These technologies can help
along with the competitors marketing comparison. We cannot avoid watching the
competition, but do not worry too much and spend too much time studying
them.
Intuit, Wondering why small retailers are ditching the old
cash register? (2013)
Retrieved 9/01/13 from
CBSnews.com, Zappos Delivers Happiness (2010) retrieved
9/1/13 from
Apple, Square Stand (2013) retrieved 9/01/13 from
Catherine Clifford, iPad, Tablet Point-of-Sale Systems Gain
Popularity (2013)
Retrieved 9/01/13 from http://www.entrepreneur.com/article/226874
Quickbook Point of Sales (2013) retrieved 09/01/2013 from
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