Entrepreneur

Technology has been changing the way people do business ever since the around 3500 B.C. revolutionized how Mesopotamian farmers and tradesmen moved goods to and from market. Likewise, today’s internet is changing how entrepreneurs start businesses, connect with customers, compete more effectively and grow to scale.

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How is the internet changing the world of entrepreneurship? Start with the following three ways.

1. The gig economy and online entrepreneurs

As many as are currently employed full-time in the “gig economy”: as contract workers, freelancers, and temps., this number is expected to grow to as many as 40 percent of American workers. The internet is a significant factor making this possible, as sites like Craigslist and Upwork make it easier for workers to find clients in need of their services.

But internet entrepreneurship isn’t all about freelancers. The internet has given rise to a whole new class of online entrepreneurs and content creators who develop and host games, operate online stores, run affiliate link sites, host ecommerce businesses and more.

Whether it’s a side-hustle or full-time gig, what the internet can provide entrepreneurs connects them to the markets they serve. Yet until recently, slow internet connections, data transfer caps and unreliable service hampered many entrepreneurs’ efforts to get established online.

Most start-up businesses are created from the home — whether that be the basement of a single-family residence in the suburbs or a high-rise apartment building in a downtown metropolitan area. And unfortunately, the internet is not a mobile commodity that can be picked up and delivered to the consumer.

Instead, it’s a utility that is delivered over an integrated, continuous physical or part-physical, part-wireless infrastructure. Historically, internet service companies owned and maintained a completely wired infrastructure, but even all the way to that house in a suburban cul de sac. 

As a result, more beginning entrepreneurs are realizing that they can get super-fast internet in apartments and condominiums in downtown areas, at a fraction of what is available in suburban and rural areas. This fixed wireless, also referred to as microwave technology, is leading the way for increased competition, which is driving prices down and increasing speed expectations.

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“It’s absolutely true; we have changed the market here in Chicago. In less than two years, the expectation of speed has increased by nearly tenfold and price points have dropped substantially as a result of our technology,” says Keegan Bonebrake of . “We’re delivering up to 1,000 megabits per second in residential units, for $99 a month.

“We’re seeing the consumer demand skyrocket for ‘big bandwidth’ in residential buildings, and we’re seeing that consumer demand is driving changes in building owners’ thinking.”

Ryan Folger, the president and founder of Anexis Development, says he refused to move into an apartment building at 500 North Lake Shore Drive in Chicago unless he could gain access to . “The building has AT&T internet included in the rent, but it’s only six Mbps, which is simply unusable at this point,” Folger says.

“I started Anexis a few months ago, and I’m transferring large amounts of data daily,” Folger says. “I needed fast download and upload speeds, which is why I petitioned the property manager to allow Everywhere Wireless to provide its Gigabit service to me. Luckily, they saw the value and accommodated my request.”

2. Communication, connection and collaboration

It’s hard to imagine starting and running a business without email and instant messaging. Yet, before these tools were in common use, scheduling meetings and communicating essential information to people outside your office was actually quite challenging — not to mention, slow. Now, meetings can be scheduled and carried out at the click of a button, while email and messaging enable information to be shared quickly and easily.

But perhaps the internet’s biggest change for entrepreneurs is the ability to connect with potential new customers and markets for relatively low cost. In the past, entrepreneurs invested big budgets in advertising and marketing to reach their audience. Today, social media allows them to inexpensively and easily spread the word about their startups and target new customers and investment opportunities.

How important is social media for today’s entrepreneur? Arecent survey on LinkedIn indicated that 81 percent of participating small businesses were using social media, more than 94 percent of them for marketing purposes.

One challenge with social media, however, is that it can be difficult to tie social efforts to actual profits. This is changing as businesses becomes more adept at using retargeting and other social media tools to drive sales.

There are also other crucial benefits that social media can provide. Chief among these is the ability to better understand and more efficiently reach your target market with the data and analytics that social media provides.

3. The cloud: hIgh tech, low cost

Once upon a time, even small businesses had significant startup costs, especially when it came to technology. Today, the internet, thanks to the cloud, allows entrepreneurs to access high-quality technology for a fraction of the up-front cost of installed hardware and software.

of 1,300 U.K. and U.S. business owners, 62 percent of respondents agreed with the idea that the cloud was enabling a boom in entrepreneurship and startups. Why are so many entrepreneurs turning to the cloud? One major attraction is its ability to help you scale. Businesses that today only have one or two users can easily add users by increasing their subscription level.

But the cloud isn’t just about applications. Servers, phone systems, online storage — in fact, most of a company’s hardware and infrastructure needs — can all be managed via the cloud. The cloud puts enterprise-grade technology into the hands of any entrepreneur with an internet connection.

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Internet-enabled startups, connection and collaboration, and low-cost access to technology are just a few of the ways that the internet is changing the world of entrepreneurship. The internet has become an invaluable tool for solving many important business problems, including research about and purchase of, the products and services a business needs, and the connections its founders need to make with partners, investors and customers alike.

In the world of employment, there are two types of employees: those who love having all the benefits of employment and wouldn’t have it any other way; and those who, while they do enjoy the perks, aspire to do something else- like

Having an entrepreneurial spirit doesn’t mean you’re somehow superior to the people that are happy being “regular” employees- at the end of the day, it’s a character trait and not something you’re supposed to get to in your professional career. You either have it or you don’t. I think I have it… but I’m not really sure.

I come from a family of self-made parents, who have worked harder and harder with each passing year, who thrive on a personal level as their businesses expand. My father and his siblings are all over 50, and they’re still looking for new business ventures, always with excitement. Most of the family’s descents, myself included, have that work on their own, and truly be businesspeople.

I have met and befriended like-minded people with whom I would always discuss our shared desires to be our own boss. They seemed so driven and passionate, I was certain that within a couple of years, they would be entrepreneurs. We would talk for hours, creating a fantasy company where all employees would be happy, where there would be a CSR department because we care, and the world would thus become a better place. I would daydream about my startup and how it would grow and spread across the globe. Even more attractive than the financial benefit was how I would be known and recognized for my professional achievements- a woman from the Middle East, who was never into business and numbers, having the greatest idea of the century and succeeding at implementing it.

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Years after these conversations, very few of my acquaintances have taken the plunge. I haven’t either.

I have a list of ideas that is getting longer and longer, and I still haven’t taken the first step- the market study. There is no valid reason for my “fearful laziness”- I don’t have children or familial responsibilities that would make me hesitant about taking financial risks, I do know investors who would be ready to play along if one of my ideas speaks to them, and I have a partner who can financially and emotionally support me on this journey. All of these factors are deal breakers for first-time entrepreneurs, and I do not take them for granted; I just can’t

Most of the entrepreneurs I have met have failed at some point in their career. The successful ones seem to have learned and changed something in their approach to business ventures, and have kept the same excitement when pitching a new idea, whereas one-time entrepreneurs with one unsuccessful venture in their portfolio are the ones that clearly did something wrong but can’t fathom the fact that they might fail again before they succeed.

I am not sure where I stand. I want it so bad, but do I want it that bad? I have come to understand that being an entrepreneur is not just having a great idea and finding investors, and working all day and all night (at the very least at the beginning of your journey)- that, I am ready for. But acknowledging the risks you’re taking and being at peace with the fact that you might fail, that’s another story.

Hello there. If I may say so, one region of the world that has always fascinated me — not only for its hardworking people but also for a culture’s resilience in times of adversity, as well as openness to new challenges — is Asia. Among the Asian countries, I single out China among other countries which I believe is highly conducive to a small business owner trying to break into a foreign market. This is mainly because, just like India, it is an emerging market.

History has shown that there have been many small business venture owners, armed with rosy expectations of expanding successfully in China, whose dreams of growth were actualized. There may have been many hurdles which have caused a number of companies to fall by the wayside, but there have been others that can attest to the fact that expanding business in a foreign land like China has been money well spent. Examples of a relatively large enterprise and a small company which have experienced marked growth are Dairy Queen and Figaro Coffee Company, respectively.

Both Dairy Queen and Figaro used the franchising system to expand to international shores, notably China Both companies banked on the expectation that consumption by China’s increasingly affluent population of about 1. 3 billion people will propel sales. China’s special attraction? Its continued growth, not just of its population, but of the economic resources or spending power of its inhabitants. Aside from small business operators representing the food sector, those in the services sector, such as an electrical appliances repair company, also stand to gain a fair share of the market.

Based on the market overview on China in the Market Research Library website http://www. buyusainfo. net/adsearch. cfm? search_type=int&loadnay=no, China’s rate of consumer consumption reportedly increased by about 16. 3 percent from January through September in 2007. Many economists predict a surge in the number of people achieving middle class status. Add to that the fact that China’s exceptional economic growth continues as the country further integrates with the global economy.

As journalist Annika Mengisen’s research revealed, “China’s growing middle class, low labor costs, crumbling regulatory barriers and entry into the World Trade Organization have made it an attractive country for private companies that are seeking to expand” (Mengisen, 2008, Introductory section, para. 4) Unlike Fortune 500 companies, the owner of a private company doubles as decision maker, a trait that allows such companies to move quickly and flexibly in China’s fast-growing economy (Mengisen, 2008, Introductory section, para.

5). Such was the trait displayed by Figaro owner Pacita Juan, in expanding the Figaro chain of stores to China through franchising. Aside from conducting feasibility studies before plunging head-on into the global market, Figaro’s top helm also had face-to-face meetings with potential Chinese partners both in its home country, the Philippines, where the business was started, and in China. There were also the linguistic and socio-cultural factors that had to be contended with (P. Juan, personal communication, August 7, 2007).

Indeed, as many small entrepreneurs will point out and as noted in the market challenges on doing business in China incorporated in the Market Research Library website , before reaping success in foreign shores, one must “thoroughly investigate the market first, take heed of product standards, pre-qualify potential business partners and craft contracts that assure payment and minimize misunderstanding between the parties. ” Small entrepreneurs who dream big will also well to be aware that the climate in China’s rapidly expanding economy “can be as wild as the old West… The idea is to know your new terrain” (Mengisen, 2008, body, para.

7). Be mindful, in particular, that China’s unique system of income tax, custom duty regulation and value added tax (VAT) is difficult to navigate. Mismanagement of these tax systems can increase the cost of operations by 10 percent to 17 percent (Mengisen, 2008, Concluding section, para. 9). Fortunately, the winds of change continue to sweep through China “and like the income tax, the government is leaning toward unification of the three tax systems…For now, a private company should seek advice from experts or local professionals” (Mengisen, 2008, Introductory section, para.

10). On the whole, China’s economic clout and burgeoning population with a huge spending power may be enough enticement for many small entrepreneurs to charge, or stake a claim, in the Chinese market, but it definitely will pay to be forearmed, especially when it comes to dealing with regulations, grappling with hidden costs, and dealing with the language and cultural barriers. Beyond the government planners and the cultural idiosyncrasies, well-financed investors intent on making money and protecting their investments in China are among those to be reckoned with.

AM References Mengisen, A. (17 October 2007). Small Businesses Find Their Fortunes in China. The street. com. Retrieved April 15, 2008, from http://www. thestreet. com/story/10383696/1/small-business-find-their-fortunes-in-china. html Doing Business in China. (2008). Retrieved April 22, 2008, from http://www. buyusainfo. net/adsearch. cfm? search_type=int;loadnay=no

Startup communities around the world are leveling up. The opportunities once found only in prominent startup ecosystems can now be seen everywhere, and savvy entrepreneurs are taking advantage.

I’ve experienced this shift first hand. Having moved to Lincoln, Neb., from stints in Hong Kong and Silicon Valley over a decade ago, I can attest that the opportunities for entrepreneurs have dramatically grown in “fly-over country.”

Cities like Lincoln (and Omaha and Cincinnati and Kansas City and on and on), have begun to pull together the tools, resources, networks, and foundational support needed for the next wave of technology entrepreneurs — what Steve Case refers to as . This “rise” is real in Nebraska and other places. 

Here are four ways entrepreneurs can take advantage of the growing resources of their startup community.

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1. Find founders

A strong startup community starts with strong entrepreneurs. Unlike the Valley where it seems like everyone in line for coffee works at a startup, finding fellow founders can be more challenging in other markets. However, finding a tribe of fellow founders is easier with meet-ups and networking events like  to regular showcases like ,  or local  activities. 

Finding this density of founders has been a cornerstone of growth for our community, enabling new founders to share experiences and make connections with peers. While some of these activities come with national support and exposure through organizations like  or , many of them have come from grassroot efforts. If you’re not seeing these type of events in your community, start something today to find your tribe.

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2. Expand your backyard

Smaller hubs need to work together to expand their opportunities. One way to do this is to look beyond traditional borders. The more collaboration we’ve seen within the community, as well as with neighboring cities, the more success we’ve seen from our startups. Within Lincoln, we’ve grown our collisions between our startups and a variety of entities including universities, city government and the traditional corporate business community. Whether it’s connecting students to intern opportunities or working with partners to leverage new infrastructure like Lincoln’s new gigabit fiber providers, startups are active players in the conversation. Our local entrepreneurs regularly make trips between Lincoln, Omaha, Kansas City, Chicago and Denver to attend each other’s events, pitch to neighboring angel groups, interact with mentors, or participate in regional programs like . Leverage these resources beyond your backyard.

3. Tap into talent

Regardless of where you live, finding talent to build your startup can be a challenge. Conquering this challenge in smaller cities requires thinking differently about where to find it. In addition to the traditional talent sources like the local universities, our startups have looked to recruit from other similar but less startup-friendly communities. Tapping into the University of Nebraska’s Big10 affiliation has also been a major opportunity for our startups to leverage.

Another way startups have approached talent is to find it early and train their own. It’s not uncommon for our startups to target and recruit promising talent during high school. This “catch-em early” strategy has paid dividends in finding talent before they can be poached away by more traditional employers. On a similar note, the rise in remote working capabilities has enabled some startups to recruit where the talent currently resides (be it the Valley or other places). 

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4. Bang the drum

One of the biggest advantages smaller-city entrepreneurs should capitalize on is to “Bang The Drum” strategy. Tell your story. Leverage the fact that you’re not in a media epicenter to your advantage. While you may be one of a hundred companies vying for attention in a bigger city, you could be the go-to story in a smaller one. The fact that our startups are building things outside the core has in fact been a major part of their stories and reasons for some of the national press and exposure that they’ve received. Being an entrepreneur is rare enough, being one who’s doing amazing things in places unexpected is even rarer.

It’s never been a better time to be an entrepreneur. Tap into your startup community, find your tribe, expand your backyard, and bang the drum. Time to make it happen.

“You don’t have to study business to be a successful entrepreneur, it can all start at university”- Graham Cooper

Young people believe they will be their own boss within the next five years, with many claiming that they have started to work on their business ideas or are thinking of starting a business.

Are you also among the bunch of crazy people who are still studying in the university and want to have your own startup? You think that your business idea is so great that you are going to be the next millionaire but you have just no idea as to where to start?

Well, let me try to help you in this case and try to give you a solution. Often, while starting from the scratch without a mentor  who has a great business sense needs a lot of courage. Abd when you have gathered the courage to do so and made up your mind then never look back. You might not have the resources that are required for your idea but mind you, you have ample opportunities to gather those resources and get that experience.

It’s you who has to make the consistent effort and identify that opportunity. You are supposed to bring in the discipline in your life.

“Discipline may not be the first quality people associate with entrepreneurship. It’s a discipline into itself .Discipline is paramount when starting a venture!”

It’s not tough to be disciplined. Once you have the structure ready and a place to start-you have nailed it as being disciplined would provide direction in an otherwise very confusing environment.

So, in order to help you to get dangerously organized, Butteyly Yours, our product based startup headquartered in Delhi is breaking the ice with its extremely cool product for the budding  entrepreneurs, to make them less busy and more productive.

You missed a deadline again? You do set reminders on your mobile but you are still unable to get organised &  you fail to achieve your goals. Its been long that you haven’t yet been selected as the star performer of  your organisation?

If you agree to all the above statements, the solution to your hassles is getting a planner. Olanning and scheduling your stuff a day in advance always helps, and saves on time and effort.

If you want to be counted among the one’s that break the stereotypes and believe in creating their own identity, then make planning a part of your routine and be disciplined in your efforts to work on the planned tasks during the day.

Often, we’ll glamorize the life an entrepreneur, but what we don’t do often enough is talk about the challenges — physical, mental, emotional and psychological — intimately intertwined with this lifestyle.

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I recently met , CEO of Winston-Salem based  (which matches brands with agencies) and author of the upcoming Millennial Entrepreneur, and after hearing his story, thought it would resonate. Here is our interview, with key takeaways:

You got started at the tender age of 14, when most of us barely can juggle getting our homework done with an after-school activity. Tell me about your start as an entrepreneur:

“I feel like I’ve always been an entrepreneur, ready to do business from birth. I guess I got my start selling lemonade and doing yard work, but when I was 14, I started my first business giving computer training, building websites and helping businesses market themselves. Soon enough, I had a bonafide digital agency on my hands.

By the time I graduated from high school at age 16, I had a thriving business and enough funds to get myself into school. This business carried me for the first decade of my career, which is longer than 94 percent of businesses last before failure.”

That’s an impressive place to find yourself in, in your teens and early 20s. Tell me what this rapid growth period was like:

“By 21 I was married, had bought a house, decided to take on a minority business partner and even co-founded a high-end digital shop in Belgrade, Serbia. I was enjoying a lifestyle of freedom after seven years of hustle. I decided to move my focus westward after targeting the California market for several years and achieving top search positions for geographically related keywords.

My team and I literally caravanned out to Los Angeles, selling and giving away what we had before we went. It was early 2008. Four figure deals had turned into five figure deals, which were turning into six figure deals in L.A. Suddenly, seven figures arrived and with it the lifestyle of a successful entrepreneur in LA, driving a 650i Beamer and relishing the glory. At 23, I was named to Los Angeles Business Journal’s ‘Twenty in their Twenties’ and was living in a penthouse. I had ‘made it’ . . . or so I thought.”

You’re touching on the conundrum we face of appearing to “have it all” when in actuality, things behind the scenes look entirely different. 

“In late 2009, I went through a lot of personal turmoil. I was diagnosed with generalized anxiety disorder (GAD) and the weight of my anxiety was beginning to take its toll. I spent a lot of money on things, experiences, and gifts to ‘pay myself back’ for the years of hard work I had already put in. I started to set aside time for cruises, European getaways . . While on the outside, everything seemed under control and put together, I was really suffering.

I remember being in Hawaii at a fancy resort, throwing up in the bathroom because I was so stressed. As an early twenty-something, my business was defining me. I had built my own prison of expectations in many ways. It took more and more to make me happy and I took things for granted. I felt disconnected from my family. By the time the recession hit and my business partner disappeared (leaving collateral damage) I was in existential crisis mode. 

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I know you’ve risen back up. Tell me about that journey.

“I rose back up by embracing my challenges and circumstances, head on. I never once ducked my head in the sand, as much as I wanted to at times. I went through all kinds of personal and business-related drama, from my business partnership crumbling, to tax audits, to losing our biggest clients in the midst of the Great Recession.

And I could have given up (I often wanted to). I had been so arrogant about my success for years and here I was, in need of help. I had to eat humble pie, and it turns out that this pie is what changed my life for the better. I did some consulting and ended up taking the helm of a few ad agencies over a few years and took some time to diversify my experiences, get a broader context of the ad industry and lay the groundwork for my current business.

I’ve taken my time this go-round. I don’t need to impress anyone or pull all-nighters anymore. When my oldest daughter was born nearly five years ago, it really changed things. My confidence became quieter, but stronger. Through my suffering came a thriving marriage, a new business partnership, new business, and financial restoration. And now I appreciate it. All of it. 

6 takeaways from Robby Berthume’s journey

There is no standard definition of success, nor a singular path toward it. “Success means different things for different people. If you build an empire and lose it, do you suddenly lose your ‘success card’ or is success something deeper? Through wins and losses, I realized success wasn’t a goal post, but instead, the ability to build and create something you love and are passionate about, one brick at a time.”

Worry and fear don’t have to overtake us. “For the longest time, I felt that my anxiety was, in some ways, a ‘competitive edge.’ I could certainly out-worry my competition. But this behavior left its toll and I’ve learned how to become a more free and fearless entrepreneur.”

Friends, family and people are more important than anything else. “When I was a young entrepreneur, I worked hard and got attention and admiration. But I was so busy working and thinking about work, that I wasn’t aware and attentive. My first marriage ended up crumbling and my family and friendships suffered. I had to mature as an entrepreneur and learn how to truly ‘shut the door’ in a world obsessed with ‘the hustle.’ I have a wife and three kids and I’m not about to prioritize my business over them.”

Take nothing for granted. “I took my life for granted back in L.A, wearing my obnoxious clothes and taking first class trips. I didn’t give enough away. I wasn’t rooted. I was working so hard that I felt I needed to spend money on things and experiences to make it worth it. Now, I’m the complete opposite.”

We can overcome far more than we think. “I never would have predicted my life’s path. Yet I find myself, at the age of 30, looking back over the past 16 years of entrepreneurship and realizing the breadth and depth of my highs and lows. And I’m proud. I’ve been resilient.”

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Life gets easier with age, though the situations and stressors don’t. “As I’m getting older, I am finding entrepreneurship to be more comfortable. I seem to live in the tension better and better. Instead of being in a constant state of ‘fight or flight’ like when I was younger, I’ve learned to not absorb people’s negative energy, to not take things as personally and to not take myself too seriously.”

In past few years, with the rising fever of ecommerce startups, countless online business ideas have emerged. But the idea that seems to be catching eyes of most entrepreneurs is Online Grocery Stores.

There are numerous online grocery businesses across the world that has gained massive success in past couple of years. To name a few, Instacart, FrestDirect, Bigbasket, PepperTap, and many others

Furthermore, many big names of ecommerce industry (Amazon, Google, more recently Ola – an India based cab booking service) have also entered the online grocery shopping arena, which further cements the fact that the sector is full of opportunities.

If we talk about stats, the market saturation of online grocery selling business is just 3-5% (depending on geography), which is far too low in comparison to other popular online business ideas, namely online travel (50%) & online electronics selling (35%). But the numbers of online grocers are increasing with a 3x rate on a year-to-year basis and it also indicates that the sector offers abundant opportunities for new players.

Here, this post will provide insights on various aspects of this growing sector in terms of challenges associated with it, its future potential, and some tips on the successful launch of online grocery stores.

Let’s first discuss the challenges of online grocery business.

Challenges of opening an online grocery business:

Inventory

For any retailer, online or offline, storage is a big concern. And when it comes to storing perishable products, the concern is much bigger. A refrigerated storage definitely manifolds the inventory cost & management efforts. Inventory management for grocery items needs to be quite efficient with faster turnover ratios & minimum spoilage, as only then a decent profit margin can be expected.

Packaging & Delivery Cost

The perishable nature of grocery items also reflects on the packaging & delivery cost, which also need to be refrigerated in most cases. On top of that, in order to make a greater impact on the market, you also need to keep the delivery cost minimum. All this indicates the need for a very efficient supply chain, which would certainly require some extra efforts. 

Timely Delivery

Like online food ordering sites, your delivery system needs to be quick, since primarily you are dealing with customers who prefer convenience & quickness over price. The fact that most online grocery shoppers are dual-income households is also the reason behind low market penetration of online grocery stores.

To attract more customers, it is essential to ensure the freshness & quality of the grocery products, which can only be achieved by implementing an efficient hyper-local delivery network in all target markets.

No Returns

Perishable items also mean very thin window for returns. So, it is imperative that you have an impeccable online ordering & delivery system. Unlike other product selling online stores, online grocery stores have very low chances of making amends (without really facing a loss) if something goes wrong. So, that too is an added challenge for online grocers.

Now, let’s take a look at the future scope of this sector.

What does the future hold for online grocery businesses?      

Changing Customer Behavior

In past one decade, online shopping has transformed customer behavior drastically. Today, customers choose ‘convenience over price’, which is the sole reason behind the success of every online business idea. Unlike buying other products, grocery shopping is essential in every household. And with people’s increasingly busy lifestyle, online grocery shopping perfectly fits as a profitable business idea for today & tomorrow.

Assured Industry Growth

While customer behavior in itself is sufficient to ensure the future potential of a business idea, it is always mindful to check what studies predict. An says the industry is growing at a rate of 11% annually. Another suggests that online grocery sales would be $18 billion by 2020 in the US alone (250% more than what it was in 2015). These reports provide further assurance that as a prospect online grocer, you are not gambling.

Tips on a successful launch of your online grocery store:

Early Birds Will Get More Worms

As mentioned earlier, online grocers are growing at a 3x rate annually, this clearly indicates the depleting market share with time. So, the earlier you start, the better it would be for your business.

Right Technology Solution

Just having a presence is not enough; your grocery selling website should also allow customers to do shopping easily. It should have a good user experience, seamless order processing, offer various payment methods, and must be optimized for mobile shoppers.  

Considering the above-listed demands of modern online grocery startups, as well as anticipating what they might need in near future, at Fatbit, we have developed a technology solution named , that allows you to launch an high-end online grocery store swiftly  at an affordable price and additionally, will give you the advantage of being the early bird.

Start Small, Grow Large With Time

One last thing to keep in mind is that it is better not to target a big market from the start. Assuming that as a startup, you would have limited funds & resources, it also makes more sense to start small (for ex. within a city), and expand with time only as much as your business growth allows.

Conclusion

The study we have made of online grocery industry so far has told us that the sector has its own share of challenges because of the perishable nature of grocery items. But the sector also has a bright future. And if one is diligent enough to carefully analyze the facts & insights we have provided in this post, these challenges can easily be transformed into the stepping stones for the establishment of a successful online grocery business.