Tag Archives: sales

Shifting Techniques: From Conventional to New-Age Marketing

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In the twentieth century, with the increase in the number of manufacturers and industries for specific products, consumers had numerous options to buy from multiple manufacturers. Manufacturers faced the need to differentiate their product and thus mass media marketing was born. Primary channels used for mass media marketing were print advertising, mass mailers, television, radio, and outdoor advertising. The objective of conventional mass media marketing was for organizations to create strong brands and differentiated brand perceptions so that consumers would desire and purchase their products rather than those of competitors.

 

However, in recent times, the media have become increasingly fragmented with several hundred television and radio channels as well as a large variety of print media including newspapers, magazines, and trade publications. With the increasing popularity of the Internet and, more recently, smartphones, many options now exist for advertisers to reach a global audience using digital media marketing methods such as cell phone apps, Google, Facebook, Twitter, LinkedIn, YouTube, QR codes, gamification, and proximity marketing. All of these options have resulted in fragmented new-age marketing. Some characteristics of fragmented new-age marketing are as follows:

  • Fragmented new-age marketing suits new, small brands with much smaller budgets targeted directly to customers in a global marketplace. Thus, it enables small companies and startups with smaller budgets to achieve a global reach.
  • New-age marketing is data-driven and more centered on driving specific calls to action. Also, new-age marketing is about engagement, unlike mass media marketing, which involves interruption.
  • Sales and Marketing communications have increasingly become multi-directional in new-age marketing. The producers can reach consumers directly; similarly, consumers can share their feedback with producers and other consumers.
  • Huge amounts of data gathered by multiple media forms and the ability to process the data through proper marketing analytics and generate valuable insights has given rise to the newest trend of “smart marketing.”

These characteristics provide compelling reasons for companies to shift their focus toward fragmented new-age marketing. Marketers evaluate all media in terms of who the target audience is and what media resonates best to arrive at an integrated approach to marketing by leveraging the strengths of various types of media.

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Importance of Data collection in Marketing Research

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Data collection is an important part of marketing research. Many significant marketing decisions are made based on the analysis of the data collected from a research project. One critical component of data collection is ensuring the quality of the data collected. Specifically, the data should be both high-quality and relevant. Data quality is the degree to which data represents the true situation. High-quality data is accurate, valid, and reliable, and it represents reality faithfully.

In some instances, researchers try to obtain the same data from multiple data sources to ensure the reliability and validity of the data collected. The following characteristics are assessed to determine the quality of data:

Reliability – The data should be reliable such that repeating the same methods produces the same results.

Validity – The data should measure or represent what it is supposed to measure.

Along with the quality of data, other important factors to consider in a research project are the availability of data and the affordability of the process required to collect it. Often the marketing organization already possesses enough information to make sound decisions without additional marketing research.

When adequate information is not available to make a decision, additional data needs to be collected from an appropriate source. If a potential source of data exists, the researcher or the decision-maker must consider the cost of obtaining it. The data should be obtained as quickly as is required to keep the research project on schedule and at an affordable cost. If the data cannot be obtained, or if it cannot be obtained in a timely fashion, the marketing research project should not be conducted.

Researchers have the option of collecting secondary data, primary data, or both. Secondary data is that which has already been collected for purposes other than the problem at hand. Primary data is newly obtained data for a specific purpose or a specific research project.

The marketing researcher needs to decide whether to collect primary data or spend the research budget exclusively on secondary data. Researchers usually prefer to examine the utility of low-cost and readily available secondary data first to see whether they can partly or fully solve the research problem under investigation without collecting costly primary data.

The source of the secondary data can be internal or external. The sources may include books or periodicals, published reports, data services, and computer data banks. When the needed data is non-existent, out-dated, incorrect or inadequate, the researcher needs to collect primary data. Most marketing research projects do include some aspects of primary data collection. Primary data may be obtained from individual consumers, subject matter experts, random samplings of a target segment, organizations, and other sources.

To learn more about data collection, visit http://smstudy.com/Certification/Marketing-Research-Associate and try our free associate course on marekting research.

OOH, Electronic Billboards

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More than six thousand digital billboards light up America’s roadways, yet, we’re still in the dark![1]

We thought that—with the explosion of social media, the long (waning?) reign of broadcast advertising, Internet advertising, and more—billboards, like sandwich boards, were becoming a thing of the past. Yet, according to the association, there are more than 158,000 standard billboards (also known as “bulletins” in the trade) and 165,500 posters (the slightly smaller sized billboard common in urban settings). Then there’s “billboards” on the sides of trucks, 2,700, and wrapped around buses, 205,000. That’s a lot of OOH (Out of Home) advertising!

This exemplifies something that Marketing Strategy, book one in the SMstudy® Guide series, says: “Rather than viewing the changes as completely replacing the earlier practices, Sales and Marketing approaches should be viewed as a continuum where recent innovations can co-exist with earlier practices.”

If you have been following our posts at SMstudy, you may remember that we have addressed the idea that old ways stay and can continue to be profitable even in the midst of great innovation.[2] OOH advertising offers two examples of not only how older approaches can remain relevant but also co-exist in symbiotic relationships.

As the numbers quoted above show, billboard advertising is alive and kicking in today’s innovative age. One cause of this is that “the brevity of OOH’s copy is ideal for driving traffic to a website,” according to OAAA. In cities with the fifty worst commutes, Americans spend from 32 minutes (with 8 percent of this city’s commuters spending more than an hour) to 42.6 minutes (and 25 percent spending more than one hour) one way.[3] That’s a lot of time spent slowly moving with the traffic flow. The vast majority of Americans spend from 30 minutes to an hour driving to and from work. Include the time they spend traveling for other purposes and that’s like having an arena’s worth of people idling past every billboard.

Co-existing can be more than just parallel existence at a distance. For example, “OOH reinforces television messages when viewers are away from their homes during the course of daily activities,” says to OAAA adding, “Television is expensive. OOH improves the efficiency of a television campaign buy by driving down CPM costs. OOH reaches light TV viewers who are younger, mobile, and more affluent than heavy TV viewers.”

OAAA points out that “younger, mobile, and more affluent than heavy TV viewers” also describes Internet users. This becomes an important insight when the marketing team considers its product’s marketing mix. “In a differentiated targeting strategy, a company directs its marketing efforts towards two or more segments by creating a different marketing mix for each segment. Each marketing mix for this strategy typically varies depending on product features, distribution methods, promotion methods, and pricing,” according to Marketing Strategy. As each market segment is targeted, the team develops a mix of “promotion methods.” These methods can include conventional mass media marketing and fragmented new-age marketing (aimed at channels such as Internet, social media, and mobile devices).

The old and the new not only can exist side-by-side but they can flourish. And that’s something to OOH and ah about!

 

For more interesting and informative articles on sales and marketing, visit SMstudy.com

 

 

[1] This datum is according to the Outdoor Advertising Association of America (OAAA) in their OOH (Out of Home) Formats on the OAAA site at https://www.oaaa.org/OutofHomeAdvertising/OOHMediaFormats/OOHMediaFormats.aspx

[2] As in our recent blog, “Pushing the Envelope: The Case for Paper,” http://www.smstudy.com/Article/pushing-the-envelope-the-case-for-paper

[3] “The 50 Worst Commutes in America.” (1/28/16) MSN; News. Retrieved on 4/12/16 from http://www.msn.com/en-us/news/us/the-50-worst-commutes-in-america/ss-AAakiJv#image=51

 

Learn How to Make a Product Training Program Effective

 

 

In this fast pace business world companies are spending billions of dollars in training their sales forces about their product. But why only a few of the companies are successful when it comes to product training initiatives and rest are not able to yield the desired results? How can a company build an efficient and effective product training program? Let us have a look at it.

Well, product training program should impart an in-depth knowledge of the product or service being offered to the sales team. As a general rule, product training ensures that the sales team understands:

The features and functionality of the product

The features of the product are captured in detail in the input Product Features. When product features are presented to sales personnel, it is important to focus on how the features will benefit the customer. The sales team will need to be instructed on the intent and use of each feature. They may require practice using the product or demonstrations of its functionality. The corporate sales staff should have a level of familiarity with the product that enables them to explain the value of each feature, display the product’s ease of use, and answer any questions the customer might have about the features.

The customer’s use of the product

The way in which the customer uses the product, or integrates it into their existing system, is a key area that the corporate sales staff must understand. The ability to view the product’s purchase and implementation from the customer’s point of view greatly helps the sales staff to communicate with the customer, as it demonstrates knowledge of the customer’s needs. Descriptions of customer use and integration may be captured as part of the product strategy, the product features, and the sales value proposition.

Competitor’s products and their similarities and differences

The corporate sales staff needs to be trained on the specifics of any competitor’s products. Knowledge of similar products will help the sales staff focus on areas in which their product is superior, and anticipate customer questions.

How the product actually achieves the promised sales value proposition.

Being able to effectively communicate how the sales value proposition is applicable to a specific customer or target audience is a key component of corporate sales. The sales team will need training on the sales value proposition, which areas are of interest to which companies, and the quantifiable results of using the product.

Industry trends (related to product use)

Industry trends related to product use help the corporate sales team understand the usage patterns of customers over time. This can also help determine future buying trends. Knowledge of industry trends needs to be updated regularly. The corporate sales team must have access to market research reports to stay current on trends.

Additional offerings

Additional offerings refer to any incentive programs, sales commissions, and gifts for customers. The corporate sales team must know the company policy related to additional offerings when meeting with and presenting information to customers. Many buyers in large organizations are prohibited from accepting gifts or commissions from sellers. The seller can offer “value-adds” as part of the contract. This avoids the appearance of impropriety because it provides the incentives to the buying organization rather than to any one individual.

An effective product training program focuses more towards the benefits of the product and less towards its features. It utilizes the technology and provides the information for the product team. The product training programs are one of the vital parts of the organizational culture, especially of those organizations which are performing really great in the industry.

To read more interesting articles about sales and marketing, visit www.SMstudy.com

Would you like a Warranty for That Explosive Device?

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Every year when the holiday season rolls around people take a glance at their bank accounts and ponder what exciting technological gadget will be released just in time for the shopping rush. This year it was hoverboards. There was just one problem… they are known to catch fire and burn down houses.

The hoverboard of today is actually just a two-wheeled self-balancing motorized scooter, but that is a mouthful, so hoverboard it is. And most importantly, the boards will not levitate like Marty McFly’s, but they may spontaneously combust.

To date there have been ten recorded instances in the United States in which hoverboards have gone up in flames. Most of the fires did not cause any real damage, no fatalities, except to the board of course. However, a hoverboard is currently suspected to be at fault for the burning down of a house in New York.

The reason for the fires is the lithium battery. After the first hoverboard was released, dozens of companies popped up selling their version of the product. The only problem is that if the battery isn’t connected to the wiring correctly it will explode, causing a very real firework show. Major distributors of the product, such as Amazon, pulled numerous hoverboard brands from shelves due to incorrect wiring. Amazon released a compliance statement, “Manufacturers must provide documentation demonstrating that all hoverboards you list are compliant with applicable safety standards, including UN 38.3 (battery), UL 1642 (battery) and UL 60950-1 (charger).”

Name brand hoverboard companies such as Swagway and Razor have applauded Amazon for their initiative. The cheap generic brands with the faulty wires were bad seeds and needed to be eliminated, but the question is, what do the name brand companies do to regain faith in their product?

According to the Marketing Strategy, Book 1 of the SMstudy® Guide, “Risk-Sharing Pricing is a strategy that businesses may employ when there is a potential for consumers to avoid buying a particular item because of a perceived risk associated with the product. In a risk-sharing pricing scenario, the seller shares some of the risk with the buyer or takes on all of the risk to induce a favorable buying season.”

Razor has stated that their batteries are manufactured by Samsung, a very reliable brand, but to ensure safety, they include a warranty with each hoverboard sold. In this case, the buyer is still expected to undertake some sort of risk, but hoverboards are worth it, right?

Swagway’s hoverboard is built with plastic rather than metal, so the hoverboard is sold for the low price of $399 dollars. When the majority of hoverboards are in the 1,000-dollar range, $399 looks very reasonable. The company is selling a cheaper product that appeals to the same buyers that were looking to purchase the less expensive generic brand, but still follows the safety standards. In this case, the seller is taking on all of the risk, but is also assuring the consumer that the product is a safe alternative.

Most people would think that Swagway and Razor would want to go out with a bang, but in this case, reliability works.   

Importance of Data collection in Marketing Research

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Data collection is an important part of marketing research. Many significant marketing decisions are made based on the analysis of the data collected from a research project. One critical component of data collection is ensuring the quality of the data collected. Specifically, the data should be both high-quality and relevant. Data quality is the degree to which data represents the true situation. High-quality data is accurate, valid, and reliable, and it represents reality faithfully.

In some instances, researchers try to obtain the same data from multiple data sources to ensure the reliability and validity of the data collected. The following characteristics are assessed to determine the quality of data:

Reliability – The data should be reliable such that repeating the same methods produces the same results.

Validity – The data should measure or represent what it is supposed to measure.

Along with the quality of data, other important factors to consider in a research project are the availability of data and the affordability of the process required to collect it. Often the marketing organization already possesses enough information to make sound decisions without additional marketing research.

When adequate information is not available to make a decision, additional data needs to be collected from an appropriate source. If a potential source of data exists, the researcher or the decision-maker must consider the cost of obtaining it. The data should be obtained as quickly as is required to keep the research project on schedule and at an affordable cost. If the data cannot be obtained, or if it cannot be obtained in a timely fashion, the marketing research project should not be conducted.

Researchers have the option of collecting secondary data, primary data, or both. Secondary data is that which has already been collected for purposes other than the problem at hand. Primary data is newly obtained data for a specific purpose or a specific research project.

The marketing researcher needs to decide whether to collect primary data or spend the research budget exclusively on secondary data. Researchers usually prefer to examine the utility of low-cost and readily available secondary data first to see whether they can partly or fully solve the research problem under investigation without collecting costly primary data.

The source of the secondary data can be internal or external. The sources may include books or periodicals, published reports, data services, and computer data banks. When the needed data is non-existent, out-dated, incorrect or inadequate, the researcher needs to collect primary data. Most marketing research projects do include some aspects of primary data collection. Primary data may be obtained from individual consumers, subject matter experts, random samplings of a target segment, organizations, and other sources.

To learn more about data collection, visit http://smstudy.com/Certification/Marketing-Research-Associate and try our free associate course on marekting research.

 

How to Ensure your Campaign is Noticed with SMstudy

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Last year 540 million dollars was spent on marketing globally. 90 percent of that marketing went unnoticed. This number does not represent the percentage of marketing that was liked or disliked, instead it includes the billboards that fade into the background of a city skyline or a print ad that was flipped past while searching for a story about some sort of celebrity gossip.

Marketing managers often ask their teams, “How should we brand our product?” Or “What will make a consumer want to buy a product?” But maybe they should be asking, “How do we get noticed?” Because if you can’t get noticed, then why even bother?

In order to get your marketing noticed, we need to reinvent the wheel a bit. Marketing automation is just as necessary to marketers as QuickBooks is to accountants. According to Tim Asimos vice president & director of Digital Innovation, “Marketing automation provides marketers a powerful and easy way to integrate all the components of their online marketing program into one system, helping to more intelligently manage the customer experience across online channels. And over the last several years, the software has seen enormous growth, fueled by the likes of Act-On, Pardot, Marketo and Hubspot among others.”

Not only does marketing automation save time and improve efficiency, but it also gives marketers the ability to focus their attention on creativity and innovation rather than worrying about the nitty gritty aspects of a campaign. Asimos notes, “As today’s buyers (B2B and B2C) have become increasingly sophisticated and research oriented, marketing and sales simply have to change their approach. Customers are in control and want to make informed decisions. And they seek out information that is educational, insightful and helpful, not the in-your-face sales messages that dominated marketing of the past.”

So how you produce this sort of material? It’s quite simple, really. Companies can perform surveys to gather the necessary data to target their decided consumer base.

As stated in Marketing Strategy, book 1 of the SMsutdy Guide®, “Surveys typically gather quantitative and qualitative data. They are conducted to help companies understand how their brands are viewed in the market and to identify the brand attributes that are preferred by customers. Surveys also help to determine how customers view the company’s products or services relative to competing products. Customers may associate positive attributes with a company such as reliable, innovative, fast, secure, and friendly, or they may perceive a company or a product in a negative fashion and provide attributes such as inconsistent, frustrating, slow, or mediocre when describing their perceptions.”

Leveraging marketing automation software can provide your online marketing program a much-needed boost. It saves you time and increases reach and engagement by sending relevant and timely content to prospects. It also allows for marketers to focus their energy on creating the magical content that’ll get a campaign noticed.

To learn more about improving your marketing efforts, visit www.SMstudy.com today.

Learn How to Make a Product Training Program Effective

product-training.jpg

In this fast pace business world companies are spending billions of dollars in training their sales forces about their product. But why only a few of the companies are successful when it comes to product training initiatives and rest are not able to yield the desired results? How can a company build an efficient and effective product training program? Let us have a look at it.

Well, product training program should impart an in-depth knowledge of the product or service being offered to the sales team. As a general rule, product training ensures that the sales team understands:

The features and functionality of the product

The features of the product are captured in detail in the input Product Features. When product features are presented to sales personnel, it is important to focus on how the features will benefit the customer. The sales team will need to be instructed on the intent and use of each feature. They may require practice using the product or demonstrations of its functionality. The corporate sales staff should have a level of familiarity with the product that enables them to explain the value of each feature, display the product’s ease of use, and answer any questions the customer might have about the features.

The customer’s use of the product

The way in which the customer uses the product, or integrates it into their existing system, is a key area that the corporate sales staff must understand. The ability to view the product’s purchase and implementation from the customer’s point of view greatly helps the sales staff to communicate with the customer, as it demonstrates knowledge of the customer’s needs. Descriptions of customer use and integration may be captured as part of the product strategy, the product features, and the sales value proposition.

Competitor’s products and their similarities and differences

The corporate sales staff needs to be trained on the specifics of any competitor’s products. Knowledge of similar products will help the sales staff focus on areas in which their product is superior, and anticipate customer questions.

How the product actually achieves the promised sales value proposition.

Being able to effectively communicate how the sales value proposition is applicable to a specific customer or target audience is a key component of corporate sales. The sales team will need training on the sales value proposition, which areas are of interest to which companies, and the quantifiable results of using the product.

Industry trends (related to product use)

Industry trends related to product use help the corporate sales team understand the usage patterns of customers over time. This can also help determine future buying trends. Knowledge of industry trends needs to be updated regularly. The corporate sales team must have access to market research reports to stay current on trends.

Additional offerings

Additional offerings refer to any incentive programs, sales commissions, and gifts for customers. The corporate sales team must know the company policy related to additional offerings when meeting with and presenting information to customers. Many buyers in large organizations are prohibited from accepting gifts or commissions from sellers. The seller can offer “value-adds” as part of the contract. This avoids the appearance of impropriety because it provides the incentives to the buying organization rather than to any one individual.

An effective product training program focuses more towards the benefits of the product and less towards its features. It utilizes the technology and provides the information for the product team. The product training programs are one of the vital parts of the organizational culture, especially of those organizations which are performing really great in the industry.

To read more interesting articles about sales and marketing, visit www.SMstudy.com

Fragmented New-Age Marketing

 

In recent times, the media has become increasingly fragmented with several hundred television and radio channels, as well as a large variety of print media, including newspapers, magazines, and trade publications.

Moreover, since the late 1990s, with the increased popularity of the internet and, more recently, smartphones, many options now exist for advertisers to reach a global audience using digital media marketing methods such as mobile phone apps, Google, Facebook, Twitter, LinkedIn, YouTube, QR codes, gamification, and proximity marketing.

With all of these options, many marketers find it beneficial to use an integrated approach to marketing by leveraging the strengths of various types of media. Companies must evaluate all media in terms of who the target audience is and what media resonates with them best. In many cases, assumptions will need to be made and incorporated into the media-testing framework.

It is a fact that people now spend more time on the internet using smartphones, tablets, or computers than they spend through conventional mass media, such as television, radio, or newspapers. This is especially true for the thirty-year-old and younger market segment. Since Sales and Marketing is most successful when it meets the demands of consumers, this change in consumer preferences is significantly altering the Sales and Marketing landscape for established companies.

Businesses are discovering that conventional mass media marketing has limited effectiveness and some customer segments are not even reachable using these traditional media forms. Fragmented new-age marketing generally supports new, small brands with much smaller budgets targeted directly to customers in a global marketplace. This represents a significant distinction from conventional mass media marketing, where achieving a global reach for a small company may have been prohibitively expensive.

While mass media marketing is less targeted and primarily focused on affecting emotional attitudes about the brand, new-age marketing is data-driven and more focused on driving specific calls to action.

Also, while mass media marketing typically involves interruption, new-age marketing is about engagement. Unlike older media options where Sales and Marketing communications were primarily uni-directional, communications have increasingly become multi-directional.

Although generally a benefit to both producers and consumers, this trend can make brand management challenging for companies if actual or potential customers perceive that a product does not reflect the brand message intended by marketing efforts.

Due to the nature of new-age marketing, consisting of multiple media forms and the ability to generate significant information, huge amounts of data commonly referred to as big data are now available to companies. The ability to process this data through proper marketing analytic, and assimilate such data to generate valuable insights, can become a significant differentiator for ensuring that companies engage in smart marketing.

Dont be One of the Three, Start Your Startup with SMstudy

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How can you keep from being one of the three?

A stat being tossed around a lot these days is that three out of four startups fail. Such odds even seem favorable when compared to direr (and possibly more realistic) observations that “nine out of ten startups fail.” Neil Patel made that claim on Forbes.com, suggesting that “entrepreneurs may even want to write their failure post-mortem before they launch their business.”[1]

What causes these failures?

A look at more than one hundred essays by the CEOs of failed startups two years ago revealed to Fortune.com “that the number-one reason for failure, cited by 42% of polled startups, is the lack of a market need for their product.”[2] Most inventors and innovators imagine that they are providing something people need—the next best mousetrap. Yet, according to these CEOs, there was a clear misalignment between imagination and market reality.

How can someone avoid that threat?

A look at other items in the poll—pricing/cost issues, poor marketing, ignoring the customer and mistimed product launches—provides a clue. The one thing that all of these threats have in common is that they are sales and marketing issues. They are all things that are discussed in SMstudy’s Marketing Strategy, volume one of A Guide to the SMstudy® Sales and Marketing Body of Knowledge (SMBOK® Guide).[3]

Marketing Strategy has an entire section titled “Analyze Market Opportunity,” which would definitely help avoid the problem of having a product without a market.  Pricing and cost issues can be addressed with knowledge gained from the section on “Determine Pricing and Distribution Strategies.”

The book discusses PESTEL Analysis, which entrepreneurs can use to evaluate macro-environmental factors such as political,economic, social, technological, environmental and legal factors that affect the successful and timely launch of a product or service.

Writing about “Ten Essential Startup Lessons” for Entrepreneur, John Rampton includes as his number 7, “Become a salesperson. If you want your startup to succeed, then you must sell. You’re going to have to market the company’s product to employees, investors and clients.” Then he asks, “But did you ever take a ‘Salesperson 101’ course in college?”[4]

The complete SMBOK® Guide is more than just “Salesperson 101.” It includes books on branding and advertising, digital marketing, corporate sales and market research. For the inventor, innovator and entrepreneur, the six books that make up theGuide give insight and direction for turning their product or service into a business—a business that has customers.

Offering some “Startup Advice” on BothSidesoftheTable.com, Mark Suster says, “When you start your company the very first question you need to ask yourself is which kind of customers do you want to serve.” He discusses going after elephants—what others call “whales”—when one really needs to hunt deer. It’s a great analogy and explains one of the reasons startups often have “suboptimal results.”[5] Defining the market and identifying market segments is covered at length in Marketing Strategy.

A Guide to the SMstudy® Sales and Marketing Body of Knowledge by SMstudy is not a collection of inspiring or amusing anecdotes about sales that hit the stratosphere; they are practical, process-oriented collections of processes and best practices that help companies create and develop sales and marketing plans and departments that succeed.

SMstudy also offers courses online and in mobile apps that put the information entrepreneurs need where they are when they need it.

How can you keep from being one of the three . . . or one of the nine? Start your startup with SMstudy.

 

[1] Patel, Neil. (1/16/15) “90% of Startups Fail: Here’s What You Need to Know about the 10%.” Forbes.com Retrieved on 2/12/16 from http://www.forbes.com/sites/neilpatel/2015/01/16/90-of-startups-will-fail-heres-what-you-need-to-know-about-the-10/#185237c255e1

[2] Griffith, Erin. (9/25/14) “Why startups fail, according to their founders.” Fortune. Retrieved on 2/12/16 from http://fortune.com/2014/09/25/why-startups-fail-according-to-their-founders/

[3] http://www.smstudy.com/SMBOKGuide/overview-of-SMstudy-guide

[4] Rampton, John. (7/25/14) “Ten essential Startup Lessons That You may not have Learned in College.” Entrepreneur. Retrieved on 2/11/16 from http://www.entrepreneur.com/article/235905.

[5] Suster, Mark. “Startup Advice.” BothSidesoftheTable.com. Retrieved on 2/11/16 from http://www.bothsidesofthetable.com/on-entrepeneurship/