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November 2017 Archives

How to balance family and business

Entrepreneurs in Colorado and elsewhere may think it impossible to both grow a business and a family at the same time. However, it can be possible to be a successful parent and entrepreneur simultaneously. It is important for someone to remain flexible after having a child as it may be difficult to create and stick to a plan for an extended period of time.

Why a new company may not make it

Entrepreneurs in Colorado may have a hard time maintaining profitability or steady growth when running a company. In fact, it is difficult to keep a company going for more than a year as only about 20 percent of businesses survive that long. While there are many reasons why a company could fail, there are a few main causes that startup owners should consider before beginning operations.

Mistakes that Colorado startups should avoid

Research indicates that 75 percent of startup businesses that have been funded by venture capitalists will fail, and a similar amount of small businesses will last no more than 10 years. Not being able to attract and keep enough customers to make a profit is a major factor in the majority of business failures. In fact, there are several customer-related mistakes owners make that contribute to the end of their businesses.

How to know if an idea is worth pursuing

A successful company in Colorado is one that can meet the needs of its target market. If it cannot do so, even a company that has had success in the past may not make it. However, there are ways in which a startup can validate its idea without necessarily spending a lot of time or money. For instance, it may be a good idea to start a conversation with potential customers.

How startups can mount influencer marketing campaigns

Colorado entrepreneurs might benefit by using influencer marketing in order to grow their businesses. While this type of marketing strategy was traditionally only available to large corporations with sizable amounts of capital and large human resources, the advance of the internet has made influencer marketing more readily available to small startups as well.