According to data from the Ministry of Development, Industry, Commerce and Services, Brazil has more than 20 million active companies. In January of this year alone, more than 350,000 new businesses emerged in the country, an average of around 480 new registrations per hour. The problem is that half of these companies end up closing their activities within three years due to lack of business knowledge, as indicated by the Brazilian Institute of Geography and Statistics (IBGE).
According to Marina Figueiredo, CEO and founder of startups Health Business School, Eliteh Business and Be.Health MKT Médico, one of the main mistakes of start-up entrepreneurs is not to specialize. “Wanting to embrace a large mass instead of focusing on a specific niche is one of the big problems. In this way, the brand is not recognized as a reference”, he says.
Thinking of a way to solve this problem, the businesswoman separated five tips for entrepreneurs to build successful businesses, which range from product development to forms of communication. Check out!
1. Focus on an unmet customer pain point
A good product or service provides solutions to problems not yet addressed by the market. Identifying, within the segments served, which gaps represent opportunities is essential to develop the business.
2. Specialize in a market
Instead of offering generalist services or products, focusing on a specific segment allows you to meet particular demands more clearly. This allows you to develop customized solutions for an audience, which increases the potential for success.
3. Constantly listening to the customer
Putting customer satisfaction at the heart of the company’s DNA makes you more competitive. Customers are increasingly demanding and, to consume, the product or service has to be worthwhile. In addition, the experience must always be surprising.
4. Research and propose innovations
With so many companies popping up every day, innovating is the norm. The competition is very big, so it is always necessary to be aware of news and opportunities that arise in the market. Without research and innovation, success is not possible.
5. Connect in the digital environment
Today, there is no way to grow at an accelerated pace without having communication, including recording videos. Working on image, posture and content is essential for any company or professional. It is also essential to master digital tools, as well as acquisition channels, to build a sales funnel independently.
By Carla Gullo
Source: Maxima
I am an experienced author and journalist with a passion for lifestyle journalism. I currently work for Buna Times, one of the leading news websites in the world. I specialize in writing stories about health, wellness, fashion, beauty, interior design, and more. My articles have been featured on major publications such as The Guardian and The Huffington Post.