MARKETING
How to Set the Stage for a Successful Entrepreneurship
If you’ve been dreaming about entrepreneurship, chances are pretty good it’s a career you should consider. After all, being an entrepreneur is one of the most fulfilling ways to make a living.
However, it can also be one of the most difficult. It requires you to have a passion for the work you do and the perseverance to push through hard times. And if you want your business to succeed long-term, there’s a lot you will need to put in place and strategize before you begin. We’ve provided some advice and information below to help you do just that.
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Determining Your Business Structure
There are many legal structures to choose from for a business. The most common ones include sole proprietorship, partnership, limited liability company (LLC), and three kinds of corporations—standard corporation (C corp), small business corporation (S corp), and benefit corporation (B corp).
The type of business structure you choose is critical because it will affect the taxes you pay, the risk and liability you will have in your personal assets, and your opportunities to raise money from investors. For example, many entrepreneurs opt for an LLC formation due to the ease of setup and the limits on taxation. And it’s easy to form an LLC through online services, but check your state’s requirements first.
Setting Up a Workstation
Along with choosing a business structure, you will want to make sure you have a comfortable space where you can work. The most cost-effective solution is to set up a workstation at home. This way, you won’t have to pay overhead or rent. Make sure you have enough space to accommodate a desk, chair, and any equipment and storage you need.
When determining where to put your home workstation, look for a spot with access to adequate natural light and that also will help you minimize distractions. A garage, basement, or spare bedroom can all make for great home offices.
Creating a Website and Marketing Your Business
No matter what industry or niche you are specializing in, you will need a quality website to market and sell your products/services. Your site should be eye-catching, easy to use, and provide relevant information for your audience.
In addition to a well-designed website, a top-notch marketing strategy can take your business to new heights. However, if your experience in marketing is limited, your best bet is to turn to seasoned experts. ZUMZU offers advanced marketing apps designed to grow your business so you can generate leads and expand your reach.
Getting All the Tech Tools You Need
To be a successful entrepreneur these days, you will need to invest in tech tools. For example, research the best video conferencing software that will allow you to hold meetings with clients, partners, and freelancers. Look into collaboration tools that will allow you to chat, share files, and manage projects within your team.
Establishing Successful Habits
Finally, to give yourself the best chance at long-term success, you will need to develop habits that allow you to consistently produce good work and grow your business. For example, many entrepreneurs, especially those who work from home, find it difficult to find a rhythm with their work hours. From the very beginning, establish concrete work hours, and make sure everyone in your household respects them.
Also, come up with a daily routine that helps you stay productive. Here are some examples of how to build a healthy routine as an entrepreneur:
- Exercising on a regular basis
- Eating a healthy diet
- Taking breaks at specific times of the day
- Designating a small chunk of time for responding to emails
- Setting up your workday the night before
- Getting a good night’s sleep
For those looking for a fulfilling career, it’s hard to top being an entrepreneur. But you need to properly prepare before you dive in headfirst. Weigh your options with business structures, create a comfortable workstation at home, and invest in a top-notch website and mobile app. Lastly, get any tech tools that you need, and build a routine that will lead you to long-term success.
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MARKETING
Trends in Content Localization – Moz
Multinational fast food chains are one of the best-known examples of recognizing that product menus may sometimes have to change significantly to serve distinct audiences. The above video is just a short run-through of the same business selling smokehouse burgers, kofta, paneer, and rice bowls in an effort to appeal to people in a variety of places. I can’t personally judge the validity of these representations, but what I can see is that, in such cases, you don’t merely localize your content but the products on which your content is founded.
Sometimes, even the branding of businesses is different around the world; what we call Burger King in America is Hungry Jack’s in Australia, Lays potato chips here are Sabritas in Mexico, and DiGiorno frozen pizza is familiar in the US, but Canada knows it as Delissio.
Tales of product tailoring failures often become famous, likely because some of them may seem humorous from a distance, but cultural sensitivity should always be taken seriously. If a brand you are marketing is on its way to becoming a large global seller, the best insurance against reputation damage and revenue loss as a result of cultural insensitivity is to employ regional and cultural experts whose first-hand and lived experiences can steward the organization in acting with awareness and respect.
MARKETING
How AI Is Redefining Startup GTM Strategy
MARKETING
More promotions and more layoffs
For martech professionals salaries are good and promotions are coming faster, unfortunately, layoffs are coming faster, too. That’s according to the just-released 2024 Martech Salary and Career Survey. Another very unfortunate finding: The median salary of women below the C-suite level is 35% less than what men earn.
The last year saw many different economic trends, some at odds with each other. Although unemployment remained very low overall and the economy grew, some businesses — especially those in technology and media — cut both jobs and spending. Reasons cited for the cuts include during the early years of the pandemic, higher interest rates and corporate greed.
Dig deeper: How to overcome marketing budget cuts and hiring freezes
Be that as it may, for the employed it remains a good time to be a martech professional. Salaries remain lucrative compared to many other professions, with an overall median salary of $128,643.
Here are the median salaries by role:
- Senior management $199,653
- Director $157,776
- Manager $99,510
- Staff $89,126
Senior managers make more than twice what staff make. Directors and up had a $163,395 median salary compared to manager/staff roles, where the median was $94,818.
One-third of those surveyed said they were promoted in the last 12 months, a finding that was nearly equal among director+ (32%) and managers and staff (30%).
Extend the time frame to two years, and nearly three-quarters of director+ respondents say they received a promotion, while the same can be said for two-thirds of manager and staff respondents.
Dig deeper: Skills-based hiring for modern marketing teams
Employee turnover
In 2023, we asked survey respondents if they noticed an increase in employee churn and whether they would classify that churn as a “moderate” or “significant” increase. For 2024, given the attention on cost reductions and layoffs, we asked if the churn they witnessed was “voluntary” (e.g., people leaving for another role) or “involuntary” (e.g., a layoff or dismissal). More than half of the marketing technology professionals said churn increased in the last year. Nearly one-third classified most of the churn as “involuntary.”
Men and Women
This year, instead of using average salary figures, we used the median figures to lessen the impact of outliers in the salary data. As a result, the gap between salaries for men and women is even more glaring than it was previously.
In last year’s report, men earned an average of 24% more than women. This year the median salary of men is 35% more than the median salary of women. That is until you get to the upper echelons. Women at director and up earned 5% more than men.
Methodology
The 2024 MarTech Salary and Career Survey is a joint project of MarTech.org and chiefmartec.com. We surveyed 305 marketers between December 2023 and February 2024; 297 of those provided salary information. Nearly 63% (191) of respondents live in North America; 16% (50) live in Western Europe. The conclusions in this report are limited to responses from those individuals only. Other regions were excluded due to the limited number of respondents.
Download your copy of the 2024 MarTech Salary and Career Survey here. No registration is required.
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