Top 5 Avoidable Mistakes Of Online Startups

Today, launching your own business usually means starting an online company. Initiating an online business seems simple enough to do well but it’s also easy to make mistakes. Here are a few mistakes you can easily avoid while starting your new online business.

(Curated from Entrepreneur.com)

1. A common mistake for online businesses is to not develop a plan or strategy. Starting a business online may not require the same kind of formality as other endeavors but you can avoid trouble in the future by establishing a plan.

“While the big-format business plan is growing obsolete, Sujan Patel, vice-president of marketing at the software company When I Work and the founder of several SaaS startups, says, “You don’t need a formal 20-page business plan to successfully plan a business. You need to know who your customers are, what you are selling and what people are willing to pay for your product or service.”

2  While starting your business, try not to focus too much on the little things. Your business cards shouldn’t take longer to develop than your website or plan of action.

“By getting sidetracked focusing on things like how your business cards look or the design of your logo, founders are wasting valuable time. Instead, concentrate on tasks that will help propel your business to the next level.”

3. Another mistake entrepreneurs make is to ignore the financial aspect of their business. Staying on top of your startup’s finances and developing a budget plan from the beginning will help you save money in the long run.

4. Some entrepreneurs also try to set competitive prices on high quality products. Make sure you know what it cost to make what you’re selling and take that into consideration when setting the price.

5. Another avoidable mistake for online startups is that they neglect customer service. Your best practice when dealing with customers is not to assume they’re all spam bots but actual people.

“With so many of our business transactions happening over the Internet, it’s easy to forget that customers are people who are way more likely to return to your website if they have a good experience.”

Have you tried starting an online business? Share your experiences with us!

How To Get Tech Skills As An Entrepreneur

Many startup ideas require tech skills to launch a company, but not all entrepreneurs are as knowledgeable as Mark Zuckerberg. Launching your own startup company may require more tech skills than you have. What can you do to expand your tech knowledge and become a tech-savvy entrepreneur? Here are a few tips to help you get started:

(Curated from Tech.Co)

You can overcome most tech challenges you face when launching your startup by learning how to code. Coding is a simple solution for many obstacles such as creating an original website or app design. You can learn this skill for free with different online resources:

“Most tech work comes down to coding. Website design is built on HTML, CSS, and JavaScript. Software development is built on C, C++, C# and much more. If your business offers a technical solution to customers, it most likely involves some coding language. Knowing coding language will make your job as an entrepreneur much easier and save you some money. There are plenty of resources online for you to learn to code for free.”

If you don’t have the time or the resources to learn all of the tech knowledge required to launch your business, you can also outsource the work. Finding outside help is another simple solution to your tech problems and collaboration is also beneficial to the creative process.

“With outsourcing, you hire an expert to do the technical work for you on a one-off or long-term basis. Knowing when to outsource work is an important skill for entrepreneurs to have. As you grow your business, you may find that you can easily delegate administrative tasks to free up your time. By the same token, outsourcing work you are not knowledgeable about will also save you time. Some places to find experts capable of doing your outsourced work include Freelancer.com and Upwork.com.”

You don't have to know tech to have a great idea for a business, but it will likely come up in the process of launching your startup. These tech resources will definitely come in handy for entrepreneurs. If you have any other questions about building a company, feel free to contact us!

Entrepreneurial Lessons From The CEO Of MentorMate

As an entrepreneur, overcoming doubt and criticism will likely be the most difficult challenged to face. The more out-of-the-box your idea is the more difficult it will be to sell. So, what can you do to persevere and give your startup the best chance possible? Here are a few lessons from Björn Stansvik, CEO of MentorMate:

(Curated from Pittsburgh Business Times)

• Stansvik’s company has seen unmatched success after increasing revenue by over 500 percent in the last three years. Before finding success, however, Stansvik faced many obstacles beginning with his parents.

“Stansvik came to America in his mid-20s from Sweden, the son of ‘overprotective civil service parents,’ he says, who valued safety and certainty. In contrast, he was the restless, striving type who wanted adventure and ambiguity. As a result, he decided to come to America to start a business because he admired from afar our nation’s welcoming attitude toward entrepreneurs and its healthy business climate.”

• Upon arriving in the U.S. Stansvik only had 90 days to find work before his tourist visa expired. Stansvik struggled to find work for a technology employer, but he didn’t let rejection stop him:

“After going nearly three months without any job offers, Stansvik made a bold move, creating, without being asked, an 80-page SWOT analysis of a Minnesota tech company he admired. He delivered it and asked for a volunteer job and desk. Surprisingly, the company said yes. Within a few weeks, he had proven his value so thoroughly that the company offered him a full-time job — and sponsorship for permanent resident status.”

• Stansvik’s story also emphasizes the importance of accepting help from others. He admits that he couldn’t have found his start without significant support from other people. Stansvik ended up staying in Minneapolis after a stranger suggested he get in touch with another Swedish man there.

“Stansvik would be the first to acknowledge how much he’s benefitted from the help of others. For instance, while traveling in Mexico, a stranger recognized his Swedish insignia bag, began speaking to him in Swedish, and suggested he contact his Swedish pal Erik in Minneapolis.”

There are several entrepreneurial lessons you can learn from Stansvik and his company, especially determination and perseverance. How do you think entrepreneurs can benefit from Stansvik's story?

4 Startup Branding Trends To Try

Founding a successful startup company is almost every entrepreneur’s dream. Unfortunately, building a business involves several steps beyond having an innovative idea. As you create a business plan and strategy for your company, don’t forget about the importance of branding. Many companies suffer from using the same website and logo for years and years. Instead, try these branding trends adopted by other successful startups:

(Curated from Tech.Co)

1. Storytelling

Instead of having the About page on your website describe what your business does include a real story. Use this page to discuss why the company was founded, what inspired the idea behind it, and what the future holds for customers. Telling an interesting story will help customers remember your business and your brand.

“Brand storytelling is the combination of the information you share with target audience members, along with what they believe about you from what they’ve read from online reviews and other sources. Stories are what humans are taught to understand. Therefore, they do far more for branding than standard websites packed with information overload.”

2. Minimalism

As intricate designs became more popular, it also became easier for companies to drown each other out with their loudness. Try a minimalist design to contradict and stand out against the white noise of over-the-top branding.

“Brands can follow the big retailers, or startups like Lovely Candy Company, who used Phase1’s simple package designs to spark a brand that is now recognized on a national level. Forget about complicated designs and markups. When branding a product, keep it simple, think about your overall brand image and pull it all together. Going into the next year, minimalist design is key.”

3. Act Small

Consumers love small businesses because they want to feel like they’re buying from their neighbors instead of a large corporation. Even large companies can act on this love of small businesses such as Walmart. Walmart promotes local businesses and sells local products.

“Customers want to feel connected to the brands they interact with. They want to feel as though they’re giving back and supporting something other than “big brand America.” Jet, an online retailer set to become a competitor of Amazon, is harnessing this power by retailing big name products with a local flare. Acting small, even if you’re not, is a branding trend to get on board with today.”

4. Get in the Conversation

Use social media to get the word out about your company. With hashtags, tagging, mentions, likes and favorites, your startup can join the conversation and become a topic of conversation to spread brand awareness.

“The more involved you appear, the more solid your branding will become. Seamless, an online delivery service for restaurants in specific locales, is one brand to watch. Their customer service through social channels is nearly flawless. Because of this, the startup has grown into a household name in the past year.”

If you have any questions about these brand strategies or how to launch your startup, feel free to contact us. The Riverside Center for Innovation has tons of resources for entrepreneurs in Pittsburgh!

Pittsburgh Events You Don't Want To Miss This Month

Yinzers have no reason to be bored this October because Pittsburgh has several awesome events scheduled. Pittsburgh’s October calendar is chock full of unique and entertaining events for everyone to enjoy. Here are a few you definitely don’t want to miss:

(Curated from NEXT Pittsburgh)

1. Pittsburgh Zine Fair - October 4

This one-of-a-kind event will feature 46 vendors and numerous zine collections. If you’re interested in literature and keeping print alive, stop by the Union Project and check it out:

“See why print matters at this diverse gathering of local and regional artists, writers, activists, publishers and collectives who will sell, share and demo their creations. Don’t miss the kickoff mixer at Bunker Projects on October 3rd, featuring a preview of readings and performances by exhibitors.”

2. Pittsburgh Abides Big Lebowski Fest - October 9

If you like The Big Lebowski you’ll love this event dedicated to the Dude. The Big Lebowski Fest will feature a showing of the movie, themed activities and contests. Come by Spirit Lodge to enjoy all things dude.

“Ready to bowl?Be an achiever and compete in raucous rounds of trivia, ear spitting and ringer toss, take dance lessons and perform your “cycle” onstage. Don your best Dude threads and vie for prizes in cutthroat costume contests, and strike a slacker pose with the Knutsens.”

3. Maker Faire Pittsburgh - October 10-11

The Maker Faire is an inventor’s dream event with over 200 makers, workshops, artists, and presentations at Nova Place. Whether you’re interested in DIY crafts, coding, or engineering, this event caters to everyone.

“Where can you operate a remote control cupcake launcher, listen to a four-string robotic slide guitar and learn to cook meals powered by the sun?  Pittsburgh’s legacy is steeped in making and the best place to see the region’s next generation of DIY creators this month is at the inaugural Maker Faire Pittsburgh. Equal parts science fair, county fair and DIY confluence, Maker Faire will bring together some of the region’s most inventive minds—from tech enthusiasts and crafters to engineers and students.”

Also on the lineup for October is a Hops and Horror event at the Carnegie Museum of Art, a Night of 1,000 Andy’s at the Warhol Museum and Pittsburgh Zombie Fest on the Andy Warhol Bridge. What event are you most looking forward to this month?

Image by John Marino