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The world is full of ideas, and people always come up with something creative to keep themselves productive and at the same time to derive monetary benefits from it. Recent events have seen many people suffer the wrath of the pandemic. Working from home has become the new normal. Even though people long to go outside, given the situation right now, everyone feels safe at home, and they do not want to risk anything because the financial hit post is massive.
As humans, we have evolved over time, and we have learnt to adapt to new situations. The recent events have and are pushing humans to learn a new way of life. People have started to think out of the box to stay in a secure shell and also at the same time work to earn and keep them safe. These events have seen a shift in the nature of employment. No longer do people or businesses fancy top-notch technology incubated or extremely aesthetically designed architectural office buildings. All they want is to stay home safe while they work and keep the business going for the economy to be stable.
Though all of us fancy going outside, deep down, we do know it is for a greater good to stay indoors. The travel industry is seeing the worst hit as tourism has gone down in many countries. With all this confusion around, making money from right where you are has become very important. This has given new ideas for entrepreneurs.
Online business courses for entrepreneurs are seeing growth.Of all the belts that have faced the effects of the pandemic, education is the most crucial one to consider. Millions of students feel strangled as schools and universities shut. Studying online has now become a mundane thing. Students and teachers are learning to coexist in one shell – the online education system. Knowing the importance of online courses at this point will help one form a new business idea or educate others on this.
The New Face Of EducationThe sudden shift in the style of education has put teachers and students in confusion as to how to go about things. With study from home trend students are expected to attend online classes as they already are enrolled in schools. But there are issues with the quality of teaching as most teachers are not used to curating online lessons with slides and virtual notes. This is giving a hard time for both teachers and students. This is also seeing a shift in students opting for more coaching classes online apart from the school lessons they learn.
Online courses with better tutors and better video quality are changing the way students learn. This is being more comfortable and easier for them to understand and comprehend the subject.
Entrepreneurs And Online CoursesBusiness is all about making the right decision at the right time and most importantly making the best use of any situation. Many successful companies have launched their services at the right time. They gave hopes to people that their product or service could help them get out of a particular situation or a problem prevailing at that time.
The current situation is a call to all entrepreneurs; especially the ones in content creation. The market for online entrepreneurship courses is rapidly growing and is getting profitable over time. People are interested in learning about new things, and this will be never-ending as everyone wants to learn more. Knowledge sharing has thus become one of the most promising careers of this time.
Why Is It A Great ChoiceWith growing awareness of everything going digital, it is only a matter of time when people will start homeschooling for their kids or say people cease from attending classes in person in colleges and universities. It gives the learner the comfort of learning from her/his personal space. Entrepreneurs should start thinking of creating online courses as this is going to be the future. Here are the reasons why every entrepreneur should launch their own course
Perks Of Being In The Industry Your Own BossWell, the best thing about online entrepreneurship courses is that you don’t have to take orders from others or keep checking on other team members or break your head in meeting deadlines. When you start creating online courses, it is you who monitors the work and decides about things. You will have the freedom to make decisions and determine what works best for your business.
Flexible TimeYou no longer have to log in at say 8:00 am or 9:00 am. When you create online courses, it is all about making videos and curating content and for this, you have a solid 24 hours in your hands. You can work when your energy levels are at peak or just take a nap when you hit your maximum utility. This will also help in giving your 100% as you know when you can concentrate and when you aren’t able to.
Great Expansion OpportunitiesSmall business entrepreneurship online courses are not limited to one domain. If you have your interest done with one niche, you can always pick another one and start curating courses for it. And if you are thinking about the demand part, then never worry! There are still people who love the content that you might be interested in taking. You can expand your skills in the lengths and the breadth of your interest.
Never Ending Content CreationCreating online entrepreneurship courses will give you unlimited content creation options. You can make videos, host webinars, have live sessions, connect all of your classes to your Facebook or YouTube or even Instagram. This will help people learn more about you. And you get the opportunity to make exciting and creative content for all other platforms as you already have people following you through your courses.
Limited InvestmentThere’s no big amount required to start off online business classes for entrepreneurs. But there are a few essentials that you have to invest in. A good camera, a microphone, a tripod to rest your camera and a minimal light set. This can help you do wonders while recording the videos. When it comes to the most important part, it is a laptop or desktop through which you can consolidate all of the information for your audience. If you are unable to invest in a good quality camera, you can always consider borrowing or renting out one. Experiment and learn to use your tools well before you spend money on them.
Additional IncomeIf you are someone looking to make extra pennies, then this is the right choice. Even if you are gone for the whole week to your day job, you can always invest the time from your weekends in recording videos for your blog. The demand for online entrepreneurship courses is extremely high that people are ready to pay the right amount to learn a new skill. This can always help you make a few extra currencies.
Easy To ManageYou tend to manage things better when you have the liberty to make decisions and plan something on your own. Creating online business courses for entrepreneurs is all about what you want to teach and or how you want to show concepts. Also, the task of assessing the tests and progress of your learners becomes easier with some great online tools. All you need to do is research and find out what best tools can be utilized for various requirements. You can read about them in “How to Create an Online Course – Step by Step Guide” things can be easier and better with proper guidance.
Work RemoteThe whole concept behind creating online business courses for entrepreneurs is to work from where you are. This does not require any big studio to be set. All that one needs to do is find a calm room in the house and set a decent backdrop if you are going to record videos. You can also work while you travel. This career option is much better for those who wish to work while they travel.
Learn While You EarnOne of the best things about creating online entrepreneurship courses is that the whole process lets you learn something new as well. So it is not just you teaching someone about something but you developing your knowledge and skills too. Say, for example, if you have limited knowledge on video recording, you tend to develop this skill with practice and the same goes to others like video editing or curating a website or marketing it and so on. It is like learning a whole package of new things.
Expand Your CircleOnline business classes for entrepreneurs if marketed the right way, lets you connect with millions of people across the globe. This gives you an opportunity to expand your social and professional circle. Also networking always helps you develop your business, and you can always have a support system when in doubt.
Good Income And DemandOver a period of time, when your course becomes well-rated, that is, when it becomes the best online entrepreneurship program you can raise your price bar. This comes with a quality that you deliver. Once you create a demand for your courses online, you can charge accordingly and guess what, you don’t have to share it with anyone! Also, a field like this has an unceasing demand that makes it the most viable option right now.
Follow Your PassionMost people get into this field as a result of a passion for teaching or video making. If you are someone from that lot, then consider yourself lucky. Very few people get to follow what they love, and this is an excellent opportunity to make the best of your talent. With an opportunity like this, you can even create an online school of your own entirely from scratch. And after a while when it grows, you get to employ a handful of staff and be a boss!
The feeling of owning a page in your name is something great, and with an online course to start with, you can make tremendous things possible. You eventually grow to own a business of your own and provide employment opportunities to others.
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Top 3 Reasons Why Small
Today, the smartphone industry is in the 6-inch era. You can barely find new smartphones with less than a 6-inch display. To this end, many people wonder why small-screen smartphones are losing popularity. Whether we are considering manufacturers or the eventual users, small-screen smartphones are losing popularity. There are three main reasons why small-screen devices are not so appreciated anymore.
Small-Screen Smartphones – no longer a “perfect golden size”1. Does not meet market needs
The market today is very different from the smartphone market of ten years ago. In the past, no one really cared about the features of a smartphone. Just produce a beautiful and working smartphone and that is enough. However, this is not the case anymore. When a brand release a smartphone now, users will commence comparison of the processor, storage capacity, camera, screen, battery and other aspects.
It doesn’t matter how good the device is practically, if the specs are poor on paper, it may affect the sales of the smartphone. In terms of screen size, there is a trend and the display is getting bigger and bigger. From 6 inches to 6.5 inches to 6.8 inches and even to 8 inches foldable screens. Smartphone users now have more usage scenarios for their devices thus the small-screen no longer works. Smartphones are now used for browsing web pages, gaming, online classes/meetings and so on. Thus, a 4-inch display will certainly not meet the need of users.
On the one hand, consumers’ demand for large-screen mobile phones is increasing day by day. Thus, the manufacturers have no choice but to give users what they want. Furthermore, from the manufacturer’s perspective, the development of small-screen mobile phones is actually challenging. This is because many of those that what small-screen smartphones also need big batteries and perfect heat dissipation. This is a very complex process for manufacturers to achieve. Thus, the manufacturers just prefer to cater to the market and develop more popular large-screen mobile phones.
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2. Small size means a lack of space for good features
Even though some users want small-screen smartphones, they also want the latest technologies. Many of these technologies require a lot of space. Take for instance a periscope telephoto camera, it can consume over 25% of the rear of a 6-inch smartphone. Putting this in a 4-inch smartphone means that there is absolutely no space for battery, speakers and other components.
However, the result of the small size of the mobile phone is that there is not much left to “squeeze” the internal space of the mobile phone. The dense internal layout will eventually lead to the problem of heat dissipation issues of the phone. The performance of the smartphone will significantly reduce because there is not enough space for heat dissipation. This will also castrate the overall features of the device.
In addition, small-screen smartphones such as iPhone 12 mini/13 mini/SE 3 have also cut the dual-SIM dual-standby setting. This also limits the purchase of many dual-SIM users. Thus, we have a situation of “you can not eat your cake and have it”. While small-screen smartphones are portable to hold, there is a limit to their performance.
3. Weak market performance
This third reason is basically on the part of the manufacturer. When a product is not performing well, a manufacturer will have no choice but to cut the product. Taking the iPhone for example, the small screen iPhone 12 mini and iPhone 13 mini had the poorest sales in both series. Apple had to take action in response to the poor sales performance of the iPhone 13 mini by eliminating the iPhone 14 mini model. Thus, all the models in the iPhone 14 series will use 6-inch+ displays.
In the future, the accessories of these small-screen mobile phone products that are visible to the naked eye will also be reduced or discontinued. If you start with this kind of small-screen mobile phone now, for example, the key screen, battery and other parts will likely only be replaced by official stock accessories or third-party accessories in the future.
Presently, the small-screen smartphone in the market has between 6.0-inch to 6.3-inch displays. As for the large screens, they have between 6.7-inch to 6.9-inch displays. The 6.7-inch to 6.9-inch displays used to be for Max series which are closer to tablets. However, some brands like Xiaomi have since discontinued their Max series.
ConclusionIt is undeniable that small-screen mobile phones are very popular with users who can operate with one hand. Nowadays, manufacturers that can insist on producing small-screen mobile phones also launch related products from users’ perspectives. However, as the sales of small-screen mobile phones continue to decline, small-screen mobile phones are bound to withdraw from the historical stage of mobile phones.
As of now, smartphones with small displays struggle to sell in the market. Users are bound to complain either about battery issues or heat dissipation issues. This is because of the lack of space that these devices possess. Thus, it is becoming pertinent for manufacturers to completely abandon the small-screen smartphones and focus on larger displays. This is what the market appears to appreciate.
7 Reasons Why An Html Sitemap Is Still A Must
The debate about the utility of HTML sitemaps and their efficacy with regards to SEO rages on.
But as far as I’m concerned, they are useful for users and there is no good reason not to have one. If there is additional SEO value, that’s even better.
A sitemap guides your website visitors to where they want to go. It’s where they turn if they haven’t found what they are looking for in your dropdown menus or on-site search.
Beyond helping your visitors navigate your website (which should be the primary focus of any marketing effort) there are lots of other great reasons to use a sitemap. We’ll explore those below.
First, it’s important to understand that there are two types of sitemaps that websites use:
XML sitemaps.
HTML sitemaps.
What Are XML Sitemaps?XML sitemaps help search engines and spiders discover the pages on your website.
These sitemaps give search engines a website’s URLs and offer data a complete map of all pages on a site. This helps search engines prioritize pages that they will crawl.
There is information within the sitemap that shows page change frequency on one URL versus others on that website, but it is unlikely that this has any effect on rankings.
An XML sitemap is very useful for large websites that might otherwise take a long time for a spider to crawl through the site and can help search engines just simply know what pages exist. Without this sitemap, they would not be able to build the full menu of available pages until they completed a crawl of the whole site.
Every site has a specific amount of crawl budget allocated to their site, so no search engine will simply crawl every URL the first time it encounters it.
An XML sitemap is a good way for a search engine to build its queue of the pages it wants to serve.
What Are HTML Sitemaps?HTML sitemaps ostensibly serve website visitors. The sitemaps include every page on the website – from the main pages to lower-level pages and can be thought of as a well-organized table of content.
This is a great opportunity to create some order out of chaos, so it’s worth making the effort.
Why You Should Leverage HTML SitemapsWhile you may already use an XML sitemap – and some insist that an HTML sitemap is no longer necessary – here are seven reasons to add (or keep) an updated HTML sitemap.
1. Organize Large WebsitesYour website will grow in size.
You may add an ecommerce store with several departments or you may expand your product portfolio. Or, more likely, the site just grows as new ideas become a part of the company.
However, this can lead to confusion for visitors who are then confused about where to go or what you have to offer.
The HTML sitemap works in a similar way to a department store or shopping mall map.
The sitemap is a great way for the person maintaining the sitemap to take stock of every page and make sure it has its rightful home somewhere on the site.
This is the directory for users that can’t find the pages they are looking for elsewhere on the site and, as a last resort, this should help them get there. I find myself looking for sitemaps when I am otherwise confused as to where to go on a website.
2. Serve As A Project Manager & ArchitectThink of the HTML sitemap as an architectural blueprint for your website.
The sitemap becomes a project management tool. It oversees the structure and connections between pages and subpages.
It’s also a forcing function to make sure that you have a clean hierarchy and taxonomy for the site. Every page that is created has to find a home.
A good sitemap is like a well-organized daily schedule.
As any busy person knows, there’s a big difference between an agenda that has every meeting popped on at random or those that are themed and organized around time blocks.
In either case, an agenda is still an agenda but an organized one is far more useful for everyone.
3. Highlight The Website’s PurposeAs a content-based document, the HTML sitemap serves as a way to further define your website’s specific value.
Enhance this benefit by using SEO to identify the most unique and relevant keywords to include on the sitemap.
Anchor text is a great way of creating keyword relevancy for a page and for pages without many cross-links, a sitemap is an easy alternative to use choice anchor text. While there is no guarantee that the anchor text is valued by search engines, it nonetheless does not hurt to try.
4. Speed The Work Of Search Engine CrawlersYou want to help those search engines out in any way you can and take control where you can. The assistance includes finding your content and moving it up in the crawl queue.
While an XML sitemap is just a laundry list of links, HTML links are actually the way search crawlers prefer to discover the web.
The HTML sitemap helps call attention to that content by putting the spotlight on your website’s most important pages. You can also submit the text version of your sitemap to Google.
5. Increase Search Engine VisibilityWith some websites, Google and other search engines may not go through the work of indexing every webpage.
For example, if you have a link on one of your webpages, then search bots may choose to follow that link.
The bots want to verify that the link makes sense. Yet, in doing so, the bots may never return to continue indexing the remaining pages.
The HTML sitemap can direct these bots to get the entire picture of your site and consider all the pages. In turn, this can facilitate the bots’ job and they may stay longer to follow the page navigation laid out for them.
Not only does a taxonomy and hierarchy help users find themselves, but it’s incredibly important for search crawlers, too. The sitemap can help the crawlers understand the website’s taxonomy.
There is no limit to how big a sitemap can be and LinkedIn even has a sitemap that has links to all of their millions of user pages.
6. Enable Page Links In A Natural Way To Drive VisitorsNot every page will connect through a link located in a header or footer.
The HTML sitemap can step in and find these ideal connections that address how visitors may look for things.
In this way, the HTML sitemap can reflect a visitor’s journey and guide them from research to purchase. In doing so, this benefit of HTML sitemaps can raise the organic search visibility of these linked pages.
In this instance, the sitemap is the fallback that ensures that there is never a page on a site that is orphaned.
I have seen huge gains in the traffic of sites that had issues with deeper pages not receiving many internal links.
7. Identify The Areas Where Site Navigation Could ImproveOnce your website grows and you develop more pages, there may be duplicate data, which can be problematic for a search engine.
But after mapping everything out, you’ll be able to use the sitemap to find the duplication and remove it.
As an aside, this only works if there is an owner of the sitemap that is looking at the sitemap on a semi-regular basis.
Also, when you apply analytics or heat map tools, it may conclude that more visitors are using the HTML sitemap than using navigation.
This is a clear signal that you need to reassess why this is happening if the current navigation is missing the mark.
It’s important to determine how you can change the site architecture to make it easier for visitors to find what they need.
For all these benefits, you’ll want to maintain an HTML sitemap. These benefits save resources (time and money).
They also deliver an effective way to guide your website visitors to what they need and help close those sales.
Getting StartedIf you don’t have an HTML sitemap but do use a platform like WordPress, I recommend one of the many sitemap plug-ins. The plug-ins automate much of the sitemap development and management process.
For larger sites, it might take running a web crawl like:
Screaming Frog or SiteBulb on desktop.
OnCrawl or DeepCrawl in the cloud.
The output of this web crawl should then serve as the basis for organizing all of a site’s pages around themes.
After developing the HTML sitemap, don’t forget to put a link on your website that is easy to find.
You can either put the link at the top, as part of a sidebar, or in a footer menu that continues to be accessible as visitors move from page to page.
However you look at it, an HTML sitemap is an easy way to get huge benefits without a lot of effort.
More Resources:
Featured image: Shutterstock/Griboedov
The Importance Of Engagement In Social Seo
Social SEO: Why the right type of interactions matter
The way that many brands interact with their fans on social sites isn’t much different. They do a lot of self-promotion and not a whole lot of engagement. They might have the best content in the world, but if all they do is talk about themselves, they’re going to lose a lot of people fairly quickly.
This is why, in the social SEO world, engagement matters. It grows relationships, builds trust, and gives your company a face and a voice.
Fans can’t engage if they can’t find youYour brand’s website is your main piece of online real estate, but your social network profiles are your back yard, your swimming pool, and your clubhouse. They’re your supplementary spaces where people come to hang out with you and get to know your company better. People can’t get there, though, if they don’t know they exist or how to find them.
But don’t stop there. Explore the different options for integrating social media widgets into your website; link to coupons, contests or promotions offered on your Facebook page; and lead your blog readers to your social accounts to join a conversation. This is the first step to getting your website visitors over to your social profiles.
Engagement helps you keep FansYour fans are your fans on social sites because they want content from you that matters, that they can relate to, and that they can share with others. They want to be a part of the brand experience. They want updates about sales and new products, but they also want to feel valued.
Between posting content relevant to your brand, post other things that might be relevant to your fans. Are you a shampoo brand? Ask your fans during the Summer what they do to get the pool water out of their hair. This kind of engagement gets your fans to talk, but it can also encourage them to share with their friends.
People love to talk, and conversing with your fans about neutral topics, such as sports, weather, current events (politics excluded, unless that’s your brand equity), work, and entertainment can help you get to know them on a different level. So, be sure to branch out from your standard product or company promotions on your social networks and start to have real conversations about everyday types of topics.
Getting your fans engaged will make them look forward to visiting your social profiles as well as sharing posts with their friends, enabling you to extend your social reach.
Engagement helps your brand avoid Faux PasAfter realising why #aurora was trending, they quickly removed the post and followed up with an apology, but being engaged could have helped them avoid this faux pas in the first place.
The takeaway? Find out why hashtags are trending first before you use them. If you want to engage with your fans, make sure you’re engaging over the right thing. Actively engage with your audience by always first understanding what your fans are talking about. The first step to engagement is often listening.
The Holy Grail: Increased rankingsOne of the biggest benefits of engaging fans is that you increase your share of the SERP (search engine results page). Recently, a CPG company in the pet care category went from owning one result for their brand name on the first page of the SERP to owning the top four spots just by increasing their engagement on Facebook, Twitter, and YouTube. It didn’t happen overnight, but when it did, it was great. How did they do it?
created a new campaign around a product designed entirely to promote social sharing.
added on-site content to promote that product, relating back to Facebook and Twitter.
That is the power of the social signal.
Ways to drive engagementIn my agency’s ebook, Social SEO Strategies: Mastering the Art of Social SEO, the details of engagement via social media are covered in-depth, but here are some of the basic tips:
Be controversial: Provoke conversation by providing an unpopular point of view.
Be selfless and provide value: Share resources your fans might find interesting or meaningful, even if it doesn’t come directly from your company.
Be conversational: Occasionally, it is okay to talk about off topic things. Is it a particularly gorgeous day in your town? Ask your fans if they’re enjoying the day. Commiserate with them if they’re not.
Be yourself: Let your Social Media Manager have a personality. It builds trust and authority.
Be entertaining: People love funny or touching stories, videos, and images.
Be timely: Keep on top of current events. If something happens that might impact your fans, use it as an opportunity to connect with them.
Be encouraging: Are your fans praising your product? Thank them! Are your fans having trouble with your product? Reach out to them to offer help.
Most importantly, be human. Give your social profile a human face.
Pandora does a great job of this, combining a human face with the brand logo for their Twitter avatar. Don’t just be a robot for your product, be the voice, the life, and the personality of your business so that your fans can truly befriend your company.
In fact, as Google+ and Agent Rank become more and more important in terms of SERP ranking and influence, having a human face associated with your business will become important to organic search.
Take It OfflineHere’s a pro tip. Driving engagement does not need to be limited to your Facebook, Twitter or other online social media accounts. You can actually find various ways to connect with people offline that result in increased social sharing, which in turn helps your online content to rank higher in the SERP.
Plan ahead to inject incentives for attendees to engage online, such as awarding free books, gift cards or other awards for Tweeting answers to quiz questions. Try an online scavenger hunt. Or, get attendees discussing a hot topic on your blog ahead of time, with the intention of deepening the dialog during the meetup itself. The possibilities are endless.
The more they are enjoying engagement with your brand, the more they will be likely to continue to do so. The result will be more consistent social signals.
You can take the meetup idea even further for greater impact on your SEO results. Engagement need not be limited to your fans. Invite bloggers in your industry to your meetups, and try to get to really know them as people. If they get to know your brand better and they like what they see, they will naturally start to share and link to your content.
SummaryEngagement helps your marketing on many levels. It helps you to get to know your audience better, builds trust and loyalty with your fans, and increases your social signals in support of higher SERP rankings. There’s no time to waste. Get engaged!
Top 10 Online Customer Analytics Courses To Master In 2023
Customer analytics courses take you through analytics to help you make informed business decisions
Customer analytics helps businesses break big problems into manageable answers. When companies need to look at how their customers behave, either as individuals or overall, customer analytics decodes their actions so that they’re easier to understand. This helps companies make better decisions on pricing, promotion, and management. Customer analytics is the process companies use to capture and analyze customer data to make better decisions. This article lists the top 10 customer analytics courses as available in Coursera.
Offered by: University of Pennsylvania In this course, four of Wharton’s top marketing professors will provide an overview of key areas of customer analytics: descriptive analytics, predictive analytics, prescriptive analytics, and their application to real-world business practices including Amazon, Google, and Starbucks to name a few. This course provides an overview of the field of analytics so that you can make informed business decisions. It is an introduction to the theory of customer analytics and is not intended to prepare learners to perform customer analytics.
Offered by: Northwestern Throughout the five courses, you will explore how great leaders assess themselves and lead collaborative teams that effectively manage negotiations and conflict. You will discover how leaders communicate through storytelling and employ other communication strategies to influence. Furthermore, You will learn how organizations start with the clarity of purpose that comes from an understanding of customers’ needs, including leveraging data analytics and using that focus to drive the design of products and services to meet those needs effectively.
Offered by: Macquarie University
Offered by: Coursera Project Network This project is an introductory level course intended for business professionals who would like to collect employee feedback using interactive forms. The project will focus on the basics of creating an interactive form. We will learn about the different types of questions available, themes. and sharing our survey. At the end of the project, the learner will be able to design their professional dynamic form for collecting employee feedback. This project will talk briefly about sharing the survey with respondents.
Offered by: University of Virginia This course, developed at the Darden School of Business at the University of Virginia, gives you the tools to measure brand and customer analytics assets, understand regression analysis, and design experiments as a way to evaluate and optimize marketing campaigns. You’ll leave the course with a solid understanding of how to use marketing analytics to predict outcomes and systematically allocate resources.
Offered by: University of Pennsylvania This Specialization provides an introduction to big data analytics for all business professionals, including those with no prior analytics experience. You’ll learn how data analysts describe, predict, and inform business decisions in the specific areas of marketing, human resources, finance, and operations, and you’ll develop basic data literacy and an analytic mindset that will help you make strategic decisions based on data.
Offered by: Institute for Gender and the Economy In this course, you will examine how policies, products, services & processes have gendered impacts that miss opportunities or create needless risks, break norms that perpetuate exclusion in serving customers/beneficiaries, get comfortable with concepts such as sex, gender identity & intersectionality, learn qualitative & quantitative analytical techniques to uncover intersectional gender-based insights, use human-centered design to create innovative solutions, become a transformational leader.
Offered by: ESSEC Business School This specialization is designed for students, business analysts, and Offered by: Coursera Project Network In this hands-on guided project, you will be trained on unsupervised Offered by: Rutgers the State University of New Jersey
Why Entrepreneurs Should Develop Unique Products
Bottom Line
To build a brand that stands out and increasingly attracts customers, design products that meet customer needs in a way that the market isn’t currently doing.
What are the opportunities you can take when developing your own products? 1. The sky’s the limit.When you successfully develop and launch your own product, there is no end in sight. Being the sole manufacturer of that product gives you the flexibility to sell your products to anyone without the threat of a crowded playing field.
2. Entrepreneurs enjoy higher margins.If you create a product based on feedback from your customers, they will be willing to pay a higher premium, since it matches their specifications. Since no one but you is selling this product, you’ll see higher profit margins.
3. Product manufacturers enjoy more control.When you have control over your product, you’ll have the flexibility to make any changes needed to improve customer satisfaction.
4. Your brand generates awareness.Listening to your customers and launching products that are catered to them will create loyal customers. [Read more about how your product packaging can win buyers’ hearts]
How should entrepreneurs start manufacturing their own products?First, understand that successful product development depends on the fusion of two types of information: the need and the solution.
The needThe need is determined by a company or individual that knows exactly what the market is missing. They might not understand how to develop or build that missing piece, but they know what it is. The best way to gather this information is to engage with your customers and listen to their feedback.
The solutionThe solution comes from a company or individual that knows how to digest the needed information and bring it to life. These are usually engineers, designers, developers, or a factory that has the capability to understand what the need is and turn it into something physical.
As an entrepreneur, it’s your job to provide a clear description of your vision to the team that can turn it into reality. Remember that they won’t have a perfect understanding of your product, so you be thorough with your description and reasoning.
There is a myth that the development steps are long and demanding and could leave you broke. However, if you follow the correct steps and maintain transparency between the need and solution parties, the process will be smoother. When you get to the solution steps, you might not be the leader, but you should understand the process.
FYI
High-quality products increase your brand’s reliability and your chance of retaining customers.
The development process Step 1: Product engineering and designThe first step the solution team must carry out is engineering a product as envisioned by the person or people who identified the need for it. This first step provided by the solution information is also the most critical step. If the engineering is done incorrectly, the product will never be functional and will have poor reviews. It’s imperative that the product design, materials and production are high quality.
To eliminate failures, design the most critical part first and test it. Make samples of this part to ensure that the product works as it’s supposed to. If it doesn’t, go back to the drawing board.
Step 2: PrototypesThe purpose of a prototype is to verify that the design works the way it’s intended. A prototype opens up many doors because you can start to market the product, take preorders, seek investment, or start a Kickstarter campaign to raise funds.
Step 3: ToolingFor the purpose of this article, we are assuming that you have built a relationship with your factory that will be building this product. If you’re lucky, your factory can also provide you with the resources to develop this product.
A positive aspect of product trading is that you never need to worry about opening up new tools. However, if you are the sole seller of this product, then opening up a tool is well worth the investment and the short amount of time needed to make the tool.
Remember when negotiating with your supplier that the tool is yours and that the supplier will not be able to use that tool for any other customer.
Tip
Look for what’s missing in the market and what customers need. This will make your products stand out and seem more attractive.
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