In my business research this week I found that nearly 90% of all startup businesses fail. They start off with a great idea and slowly die because their founders fail to listen to changing needs of customers, fail to adapt to identify new growth areas and changing customer needs, and ignoring trends and losing touch with customers until it is too late.
Big changes coming soon are what we are calling “Bridges”, we are adding new ways to connect combinations of businesses and people using similar but complementary business goals a.k.a. “Bridges”. People and companies tend to build Walls, Walls isolate people and businesses. Walls slow and disrupt the flow of information, cooperation, sales and growth of business and isolate and make people miss out on goods and services they weren’t aware of. People and business both miss out and loose in the end.
Using our “Bridges” small and medium sized business can instantly create a bridge to a target audience without guessing, cold calling, spending a ton of cash on bulk advertising. Business can find other small business to “complement” their goods and services, and people can find other people and business to form a Community of Interest.
Bridges will be powered by our Plan.Business surveys, and be used to “Bridge” (aka Match) Communities of Interest. These businesses can combine their knowledge to develop new products and services more rapidly than their larger slower competitors.
There are a host of benefits to these types of relationships, including:Saving money on shared expenses.
- Expanding your customer base.
- Utilizing on a partner’s expertise in a given area.
- Having a trusted advisor.
- Capitalizing on another company’s size or prestige.
References:Patel N., 90% Of Startups Fail: Here's What You Need To Know About The 10%, Forbes//Entrepreneurs Jan 2016 Retrieved 11/20/2017 from https://www.forbes.com/sites/neilpatel/2015/01/16/90-of-startups-will-fail-heres-what-you-need-to-know-about-the-10/#702f8a986679
Tueriera & Cross, Co-business – 50 examples of business collaboration, Retrieved 11/20/17 from http://www.co-society.com/wp-content/uploads/CO_business_2013.pdf
FastCompany, What Teaming Up With Another Company Can Do For Your Business – Instead of competing, try collaborating with another company, retrieved 11/20/2017 from https://www.fastcompany.com/3039014/what-teaming-up-with-another-company-can-do-for-your-business