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	<title>Startup Archives | Highlight Story</title>
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	<item>
		<title>What Startups Can Learn from Netflix and Amazon’s Personalization Strategy</title>
		<link>https://highlightstory.com/what-startups-can-learn-from-netflix-and-amazons-personalization-strategy/</link>
		
		<dc:creator><![CDATA[Editor]]></dc:creator>
		<pubDate>Sat, 15 Nov 2025 17:33:09 +0000</pubDate>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Entertainment]]></category>
		<category><![CDATA[Startup]]></category>
		<guid isPermaLink="false">https://highlightstory.com/?p=31600</guid>

					<description><![CDATA[<p>Have you ever wondered why Netflix always seems to know what you want to watch next? Or how Amazon really seems good enough to suggest just the right things? It almost seems like they know you better, but really, that is not magic—it&#8217;s personalization working behind the curtain, where businesses know their clients. Personalization used &#8230; </p>
<p>The post <a href="https://highlightstory.com/what-startups-can-learn-from-netflix-and-amazons-personalization-strategy/">What Startups Can Learn from Netflix and Amazon’s Personalization Strategy</a> appeared first on <a href="https://highlightstory.com">Highlight Story</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p>Have you ever wondered why Netflix always seems to know what you want to watch next? Or how Amazon really seems good enough to suggest just the right things? It almost seems like they know you better, but really, that is not magic—it&#8217;s personalization working behind the curtain, where businesses know their clients.</p>



<p>Personalization used to be a nice add-on. It was as simple as putting in a name in an email or suggesting a few products. These days, customers have much higher expectations. In fact, they want every experience designed with their individual needs in mind. According to a McKinsey study, now over 70% of consumers want personalized touchpoints, and many feel disappointed when they do not receive them.</p>



<p>This expectation has grown into hyper-personalization, which uses real-time data to create experiences that feel somehow relevant and human to the beholder. Think about how Amazon says, &#8220;Customers who bought this also bought.&#8221; It&#8217;s not pure guesswork. It learns with every click and purchase and now has an uncanny ability to predict what you&#8217;ll want to buy next. The same is true for how Netflix decides what to showcase to you on your homepage-it almost feels effortless to choose something to watch.</p>



<p>And it works. According to a McKinsey study, well-personalized companies generate approximately 40% more revenue than their poorly personalized counterparts. When customers feel understood, they buy more, stay longer, and engage deeply with the brand.</p>



<p>The interesting thing is that this practice is not confined to tech giants. Startups can adopt this approach to grow quickly and strengthen connections, even without massive resources.&nbsp;</p>



<p>In this blog, we’ll explore how Amazon uses data to drive smarter sales, how Netflix uses personalization to keep viewers glued, and how startups can learn from these stories to build meaningful connections and long-term growth.</p>



<h2 class="wp-block-heading">1. Amazon’s Playbook for Turning Data into Sales</h2>



<p>We illustrated how by personalization, modern companies reap the benefits of profits. Amazon shows what happens when a company fully embraces that idea. With every search, scroll, and purchase, customers provide additional clues about their values; Amazon then uses those clues to simplify and personalize the shopping experience.</p>



<figure class="wp-block-image size-large"><img fetchpriority="high" decoding="async" width="1024" height="512" src="https://highlightstory.com/wp-content/uploads/2025/11/Amazons-Playbook-for-Turning-Data-into-Sales-1024x512.jpeg" alt="Amazon’s Playbook for Turning Data into Sales" class="wp-image-31598" srcset="https://highlightstory.com/wp-content/uploads/2025/11/Amazons-Playbook-for-Turning-Data-into-Sales-1024x512.jpeg 1024w, https://highlightstory.com/wp-content/uploads/2025/11/Amazons-Playbook-for-Turning-Data-into-Sales-300x150.jpeg 300w, https://highlightstory.com/wp-content/uploads/2025/11/Amazons-Playbook-for-Turning-Data-into-Sales-768x384.jpeg 768w, https://highlightstory.com/wp-content/uploads/2025/11/Amazons-Playbook-for-Turning-Data-into-Sales-120x60.jpeg 120w, https://highlightstory.com/wp-content/uploads/2025/11/Amazons-Playbook-for-Turning-Data-into-Sales.jpeg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>One of the most intelligent aspects is its ability to learn from its users&#8217; activities. If you purchased a book, browsed through a gadget, or simply hovered over it, Amazon takes note of such activities to predict what you will probably want next. That famous line —&#8221;Customers who bought this also bought&#8221; — is not just an empty phrase. It is the result of millions of interactions, crafting recommendations that just fit each shopper.</p>



<p>The upside is that it feels quite natural. When we see products that match our interests, we don&#8217;t think of algorithms. We might think, &#8220;That&#8217;s exactly what I was looking for.&#8221; Such a simple idea creates trust. At least one-third of Amazon&#8217;s total purchases are attributed to its recommendation engine. Another study shows that personalized product suggestions influence the buying decisions of over 90% of online shoppers. It is clear that personalization does not merely enhance sales; it actually influences people&#8217;s decisions about what to buy.</p>



<p>The experience Amazon gives is not limited to the web. If you&#8217;ve ever received an email reminding you of something left in your cart or suggesting something else you might like, you have seen this at work. These messages are more helpful than intrusive. The homepage is also adjusted based on your recent activities, and the &#8220;Your Recommendations&#8221; section uses your browsing history to suggest what to look at next.</p>



<p>The clear lesson for startup companies is that personalization is not about the science of massive technologies; it is about slow observation of the people. It means closely watching how users interact with the product. Pay attention to what people click on and what they ignore. Noticing seemingly little things will help curate experiences that feel personal and considerate. A customized homepage, a simple follow-up email, or a product suggestion that appears relevant-they all contribute in one way or another.<br><br><strong>Read</strong>: <a href="https://highlightstory.com/survival-skills-how-learning-archery-enhances-your-outdoor-preparedness/">Survival Skills: How Learning Archery Enhances Your Outdoor Preparedness</a></p>



<h2 class="wp-block-heading">2. Netflix’s Formula for Engaging and Retaining Users</h2>



<p>While Amazon demonstrates how personalization motivates purchases, Netflix demonstrates how it inspires loyalty. Amazon is all about anticipating what people might buy: Netflix is all about anticipating what keeps folks watching. Personalization isn&#8217;t just about transactions; it&#8217;s about connecting.</p>



<p>One of the most exciting strategies Netflix employs is its use of visuals. For each title, Netflix will make several cover images available and test which one is most likely to convince a viewer to click through. For example, if someone enjoys movies with Uma Thurman, their version of Pulp Fiction might feature her on the cover, while someone else might have John Travolta. Netflix has found that artwork influences viewing decisions more than a title&#8217;s ranking on the homepage.</p>



<p>Such neatness resolves another prevalent problem: too many choices. When confronted with too many options, people tend to just quit. Netflix cuts through the overwhelm by categorizing its recommendations into sections like &#8220;Because you watched&#8221; and &#8220;Top Picks for You.&#8221; Each suggestion feels appropriate, making it easy for users to decide and enjoy what they see quickly.</p>



<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="512" src="https://highlightstory.com/wp-content/uploads/2025/11/Netflixs-Formula-for-Engaging-1024x512.jpeg" alt="Netflix’s Formula for Engaging" class="wp-image-31597" srcset="https://highlightstory.com/wp-content/uploads/2025/11/Netflixs-Formula-for-Engaging-1024x512.jpeg 1024w, https://highlightstory.com/wp-content/uploads/2025/11/Netflixs-Formula-for-Engaging-300x150.jpeg 300w, https://highlightstory.com/wp-content/uploads/2025/11/Netflixs-Formula-for-Engaging-768x384.jpeg 768w, https://highlightstory.com/wp-content/uploads/2025/11/Netflixs-Formula-for-Engaging-120x60.jpeg 120w, https://highlightstory.com/wp-content/uploads/2025/11/Netflixs-Formula-for-Engaging.jpeg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>The impact is tremendous. More than 80 percent of Netflix users trust the recommendation system for choosing what to watch. The company claims that its personalized approach saves more than $1 billion in churn costs each year and keeps viewers engaged.</p>



<p>A simple lesson for a startup: user retention is as important as user acquisition. A SaaS platform can better emphasize the features users engage with most. D2C brands can send follow-up emails with useful tips tailored to the customer’s last purchase. Even a simple action, such as showing a match score for recommendations, can make users feel special.</p>



<h2 class="wp-block-heading">3. A Startup Roadmap to Personalization on a Budget</h2>



<p>Given what we&#8217;ve seen in how Amazon uses data to drive sales and how Netflix builds loyalty through personalization, one starts to wonder how even the smallest companies will be able to do the same.</p>



<p>Personalization is not a luxury for large corporations alone. Startups can equally afford to create meaningful experiences regardless of resource limits. It all begins with baby steps focused on getting to know its customers and acting on what matters most to them.</p>



<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="512" src="https://highlightstory.com/wp-content/uploads/2025/11/Personalization-on-a-Budget-1024x512.jpeg" alt="Personalization on a Budget" class="wp-image-31596" srcset="https://highlightstory.com/wp-content/uploads/2025/11/Personalization-on-a-Budget-1024x512.jpeg 1024w, https://highlightstory.com/wp-content/uploads/2025/11/Personalization-on-a-Budget-300x150.jpeg 300w, https://highlightstory.com/wp-content/uploads/2025/11/Personalization-on-a-Budget-768x384.jpeg 768w, https://highlightstory.com/wp-content/uploads/2025/11/Personalization-on-a-Budget-120x60.jpeg 120w, https://highlightstory.com/wp-content/uploads/2025/11/Personalization-on-a-Budget.jpeg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3 class="wp-block-heading">Step 1: Unify Your Data</h3>



<p>First, you need to unify all customer information. Often, the data is stored in different systems, such as the CRM, web analytics, and email. When you put this data in a single view, it provides clarity on who your customers are and what they truly care about. This is what makes every ounce of effort toward personalization worthwhile.</p>



<h3 class="wp-block-heading">Step 2: Start with Segmentation</h3>



<p>Next comes segmentation, which entails categorizing audience groups by their behaviors or journey stages. New visitors and returning users mostly need different messages. For example, a first-time buyer might require guidance regarding a product, while a loyal customer would appreciate exclusive offers. At the very least, just basic segmentation would be enough to render your communications a little more personal and relevant.&nbsp;</p>



<h3 class="wp-block-heading">Step 3: Leverage Web Personalization Tools</h3>



<p>Once this has been fully implemented, tools should be assessed to facilitate easier personalization. Here, a web personalization platform could help personalize on-site experiences, recommend products, automate follow-ups, and be set up in a short time. At Fragmatic, we also found that much works better in smaller teams. One should focus on one or two areas that impact clients immensely for quicker, more worthwhile results, rather than going all-out to personalize everything.</p>



<p>According to research, every dollar spent on CRM yields an average return of $8.71 for firms, validating that minor personalized efforts can bring substantial value.</p>



<h3 class="wp-block-heading">Step 4: Focus on Key Customer Journeys</h3>



<p>The next step is to personalize the key customer moments. For a SaaS, this would mean tailoring the onboarding process to user goals. For a D2C brand, this means sending an email with useful product tips a few days after delivery. A marketplace could deliver weekly updates showing listings relevant to a user&#8217;s previous search queries. These are small but thoughtful interactions that make customers feel acknowledged and understood.</p>



<p>Access to global personalization technologies is becoming relatively easier now. The worldwide market for personalization software is estimated at around $1.16 billion in 2024 and is projected to exceed $5 billion by 2030. Companies that use automation to nurture their leads are reported to have a 451 percent increase in qualified leads.</p>



<h2 class="wp-block-heading">Conclusion</h2>



<p>Huge budgets are not required for personalization; strategy and intelligence are. Amazon can predict what customers want, and Netflix knows how to keep customers glued to their screens. Both are testimonials that have grown by learning from users and pushing their products with intent inspired by these actions.</p>



<p>For new companies or start-ups, the path ahead begins small, with clear, well-conceived steps. Assess the data you currently have, identify a dimension you can personalize to enhance their experience, and deliver genuine insights that could make a huge difference.</p>



<h3 class="wp-block-heading">Author&#8217;s Bio:</h3>



<p><strong>Vidhatanand</strong> is the Founder and CEO of <a href="https://fragmatic.io/?utm_source=guestpost&amp;utm_medium=referral&amp;utm_campaign=HighlightStory" rel="nofollow">Fragmatic</a>, a web personalization platform for B2B businesses. He specializes in advancing AI-driven personalization and is passionate about creating technologies that help businesses deliver meaningful digital experiences.</p>
<p>The post <a href="https://highlightstory.com/what-startups-can-learn-from-netflix-and-amazons-personalization-strategy/">What Startups Can Learn from Netflix and Amazon’s Personalization Strategy</a> appeared first on <a href="https://highlightstory.com">Highlight Story</a>.</p>
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		<title>The Evolution of Trading Cards: From Sports to Pop Culture</title>
		<link>https://highlightstory.com/the-evolution-of-trading-cards-from-sports-to-pop-culture/</link>
		
		<dc:creator><![CDATA[Editor]]></dc:creator>
		<pubDate>Sat, 17 May 2025 20:51:01 +0000</pubDate>
				<category><![CDATA[Gaming]]></category>
		<category><![CDATA[Sports]]></category>
		<category><![CDATA[Startup]]></category>
		<guid isPermaLink="false">https://highlightstory.com/?p=31199</guid>

					<description><![CDATA[<p>Trading cards, as we know them today, are vessels for pop culture, fandom, and even investment. Most collectors today aren’t aware of the surprising beginnings of trading cards over a century ago, with the tobacco industry. Let’s take a trip through the years and trace how these small collectibles became the must-have memorabilia they are &#8230; </p>
<p>The post <a href="https://highlightstory.com/the-evolution-of-trading-cards-from-sports-to-pop-culture/">The Evolution of Trading Cards: From Sports to Pop Culture</a> appeared first on <a href="https://highlightstory.com">Highlight Story</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p>Trading cards, as we know them today, are vessels for pop culture, fandom, and even investment. Most collectors today aren’t aware of the surprising beginnings of trading cards over a century ago, with the tobacco industry. Let’s take a trip through the years and trace how these small collectibles became the must-have memorabilia they are today.</p>



<h2 class="wp-block-heading">The Late 1800s: A Tobacco-Tinged Beginning</h2>



<p><strong>When we think of trading cards today, two things come to mind:</strong></p>



<ul class="wp-block-list">
<li>Trading card packs and boxes that are sold individually, containing tens or even hundreds of potentially valuable cards.<br></li>



<li>Trading card singles, like the Shadowless Charizard, with incredible intrinsic value.<br></li>
</ul>



<p>The first trading cards released in the late 1800s did <em>not </em>have that intrinsic value. In fact, they weren’t even sold as part of a pack or a box! The very first trading cards were <em>sports </em>cards that could be found in <a href="https://highlightstory.com/why-are-people-choosing-cbd-vape-over-cigarettes/">cigarette packs</a>, accompanying varsity athletes from top universities, like Harvard.&nbsp;</p>



<p>Smoking and college sports for mass consumption really started taking off during this period, and tobacco cards were an excellent way to get the word out. Since these early trading cards were more or less just a nominal way to advertise cigarettes, they featured very basic, toned-down sepia designs. As the evolution of trading cards moved from simple collectibles to high-value assets and even digital NFTs, the &#8220;<a href="https://highlightstory.com/emotional-decision-making-the-impact-of-feelings-on-betting-choices/">Feelings on Betting Choices</a>&#8221; became increasingly complex for enthusiasts, blurring the lines between pure collecting, strategic investment, and outright gambling.<br> </p>



<p><strong>Read: </strong><a href="https://highlightstory.com/security-challenges-in-web-application-development-and-how-to-overcome-them/">Security Challenges in Web Application Development and How to Overcome Them?</a></p>



<h3 class="wp-block-heading">The First Dedicated Trading Card Set</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://highlightstory.com/wp-content/uploads/2025/05/First-Dedicated-Trading-1024x683.png" alt="" class="wp-image-31200" srcset="https://highlightstory.com/wp-content/uploads/2025/05/First-Dedicated-Trading-1024x683.png 1024w, https://highlightstory.com/wp-content/uploads/2025/05/First-Dedicated-Trading-300x200.png 300w, https://highlightstory.com/wp-content/uploads/2025/05/First-Dedicated-Trading-768x512.png 768w, https://highlightstory.com/wp-content/uploads/2025/05/First-Dedicated-Trading-90x60.png 90w, https://highlightstory.com/wp-content/uploads/2025/05/First-Dedicated-Trading.png 1470w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></figure>



<p>Trading cards really came into their own in the early 1900s, particularly with the T206 set released by the American Tobacco Company in 1909. This was the first set of dedicated trading cards released for buyers, and only a handful of these cards remain today. You might have heard of the T206 Honus Wagner card, currently valued at<a href="https://www.mlb.com/news/rare-t206-honus-wagner-baseball-card-sold-for-7-25-million" rel="nofollow"> $7.25 million</a>.</p>



<h2 class="wp-block-heading">1950s-60s: Post-War Resurgence</h2>



<p>As you might imagine, consumer demand remained depressed during the early 1900s with both World Wars. Companies either completely stopped producing or minimized production for most non-essentials. As interest in predicting match outcomes surged, the ability to <a href="https://highlightstory.com/how-legal-is-it-to-bet-on-soccer-in-india/">bet on soccer in India</a> indirectly fueled the evolution of trading cards. Buyers either didn’t have the money to pick up trading cards, or they just weren’t interested enough, with a few exceptions, like cheap gum cards in the 1930s.</p>



<p>The real resurgence happened in the 1950s, with Topps emerging as a strong contender against Bowman and other established companies. Consumer demand was back, and companies like Topps constantly innovated with new designs to keep it that way.</p>



<p>This period also saw the release of <em>the </em>most expensive sports card of all time: the Topps 1952 Mickey Mantle #311, priced at $12.6 million. Some other changes include:</p>



<ul class="wp-block-list">
<li>The replacement of basic sepia designs with more vivid colors.</li>



<li>The frequent inclusion of player statistics and other fun facts on the back of cards.</li>



<li>The choice to use real player photographs instead of illustrations.</li>
</ul>



<h2 class="wp-block-heading">1980s-90s: The Big Boom</h2>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://highlightstory.com/wp-content/uploads/2025/05/Big-Boom-1024x683.png" alt="" class="wp-image-31201" srcset="https://highlightstory.com/wp-content/uploads/2025/05/Big-Boom-1024x683.png 1024w, https://highlightstory.com/wp-content/uploads/2025/05/Big-Boom-300x200.png 300w, https://highlightstory.com/wp-content/uploads/2025/05/Big-Boom-768x512.png 768w, https://highlightstory.com/wp-content/uploads/2025/05/Big-Boom-90x60.png 90w, https://highlightstory.com/wp-content/uploads/2025/05/Big-Boom.png 1470w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></figure>



<p>Considering their current popularity today, these were some of the most monumental decades for the evolution of trading cards. Sports cards exploded in popularity among consumers, not just in the US but across the globe.&nbsp;</p>



<p>This also led to a massive increase in production numbers, giving rise to the ‘junk wax era’ in the late 80s, a period where cards frequently had manufacturing defects, like misprints and misalignments. What else changed?</p>



<ul class="wp-block-list">
<li>Local trading card shops multiplied in number, popping up in small communities across the US.</li>



<li>Companies like Topps radically overhauled sports card designs, introducing much brighter colors and even using new technology to create the first holographic foil cards.</li>



<li>More collectors started seeing the investment potential of trading cards, treating them as assets rather than basic collectibles.</li>
</ul>



<h3 class="wp-block-heading">Pokémon Enters The Scene</h3>



<p>No discussion about the evolution of trading cards and pop culture would be complete without a mention of Pokémon. Creatures Inc. (now part of The Pokémon Company) first brought these cards to market in 1996.&nbsp;</p>



<p>The very first release was known as the base set, featuring now-iconic cards like the original Pikachu and Blastoise. Even misprints from this set, such as the Shadowless Charizard mentioned earlier, are more expensive than most sports cards.</p>



<h2 class="wp-block-heading">2000s Onwards: The Digital Renaissance</h2>



<p>New printing technology and online trading spaces have largely defined this period. Holo foil cards are easy and relatively more affordable to print, making them more widespread across sports cards and even most TCGs. Collectors are now familiar with more advanced holo features, including layered textures. <a href="https://highlightstory.com/kickstands-campground-venue/">Kickstands Campground</a>, a popular spot for collectors, was abuzz with activity as attendees traded rare holographic cards.<br></p>



<p>Ecommerce and online trading in general widened the market and made trading cards more accessible for collectors everywhere. While this process started in the early 2000s, it really picked up momentum with the rise of social media and easily accessible ecommerce platforms.&nbsp;</p>



<p>Considering these trends, you <em>would </em>expect<a href="https://highlightstory.com/unlocking-innovation-a-journey-through-diverse-digital-business-card-types/"> digital collectibles</a> to be a huge focus right now, but that hasn’t really been the case. That said, the Yu-Gi-Oh! The Duel Links game has seen a lot of success, and it might open the door for more successful digital sports cards and other TCGs like One Piece.</p>



<h2 class="wp-block-heading">The Future of Trading Cards</h2>



<p>Will the future of trading cards in pop culture be <em>completely </em>digital? Unlikely. Collectors still mostly prefer the excitement of pulling packs by hand and discovering a 1/1 rare. While digital cards can’t really replace that feeling, they will slowly carve out a niche as time goes on.</p>



<h3 class="wp-block-heading"><strong>Author&#8217;s Bio</strong>:&nbsp;</h3>



<p><strong>Skybox Collectibles</strong> is a leading trading card shop that specializes in<a href="https://skyboxct.com/collections/top-sellers" rel="nofollow"> best-selling sports cards</a> and TCGs. The authors over at Skybox Collectibles are avid enthusiasts and collectors themselves, and they’re passionate about delivering the best possible experience to collectors across the country.&nbsp;</p>
<p>The post <a href="https://highlightstory.com/the-evolution-of-trading-cards-from-sports-to-pop-culture/">The Evolution of Trading Cards: From Sports to Pop Culture</a> appeared first on <a href="https://highlightstory.com">Highlight Story</a>.</p>
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		<title>10 Things I Wish I Knew Before Launching an Engineering Startup</title>
		<link>https://highlightstory.com/10-things-i-wish-i-knew-before-launching-an-engineering-startup/</link>
		
		<dc:creator><![CDATA[Editor]]></dc:creator>
		<pubDate>Thu, 16 Dec 2021 14:12:46 +0000</pubDate>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Startup]]></category>
		<guid isPermaLink="false">https://highlightstory.com/?p=23767</guid>

					<description><![CDATA[<p>Starting any small business involves a lot of hard work, long hours, and inevitable setbacks. Hopefully, all of that is worth it when the business starts to see profit and success. Mistakes and setbacks are part of the course, but that doesn’t mean you can’t work to avoid them. 1. Always Put the Business First &#8230; </p>
<p>The post <a href="https://highlightstory.com/10-things-i-wish-i-knew-before-launching-an-engineering-startup/">10 Things I Wish I Knew Before Launching an Engineering Startup</a> appeared first on <a href="https://highlightstory.com">Highlight Story</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p>Starting any small business involves a lot of hard work, long hours, and inevitable setbacks. Hopefully, all of that is worth it when the business starts to see profit and success.</p>



<p>Mistakes and setbacks are part of the course, but that doesn’t mean you can’t work to avoid them.</p>



<h2 class="wp-block-heading">1. Always Put the Business First</h2>



<p>Many businesses are a product of the founder’s passion. Whether it’s a chef opening a restaurant, an artist starting a gallery, or an engineer venturing out with their own product idea, business owners get into it to do what they love each day.</p>



<p>Unfortunately, most of running a business isn’t the passion that motivated you in the first place. Your time will be taken up by the day-to-day operations, and you’ll be expected to wear a lot of business-oriented hats.</p>



<h2 class="wp-block-heading">2. The Customer is the Focus</h2>



<p>This may seem obvious, but the customer has to be the focus and goal of your business. If you’re thinking that you’re in business to make money, you won’t get far. Successful businesses bring in a profit, of course, but they do so by providing a service or product that solves a problem for a customer. Even the most innovative product would fail if no one needed it.</p>



<p>Make sure your product or service provides value to your customers. If you have competitors, what do they well and not so well? What can you do better?</p>



<p>For example, numerous manufacturers produce circuit boards, but they vary in quality and features. A printed circuit board with better heat resistance would provide an edge on the market, all while solving a problem for customers.</p>



<h2 class="wp-block-heading">3. You Might Fail</h2>



<p>You might fail. In fact, it’s more likely that you will fail than find success, since the majority of startups fail. That doesn’t mean you will fail, but it does mean that you’re going against the odds.</p>



<p>It’s best to keep your job as long as possible. It will be hard to balance a job and starting a business, but you’ll be thankful if you hit a snag and need that job to fall back on. If you don’t succeed, take those lessons and apply them to your next idea.</p>



<h2 class="wp-block-heading">4. You’re on Your Own</h2>



<p>Most people work in environments with management and other employees. They have people to go to if they have questions or problems, and there’s a sense of community.</p>



<p>At your startup, you’re responsible for all the decisions and responsibility. Even with a team, you’re the one making the final decisions and taking on the burden.</p>



<h2 class="wp-block-heading">5. Budgeting is Crucial</h2>



<p>Most small businesses take time before they generate a profit. <a href="https://highlightstory.com/10-budget-tips-for-small-businesses-during-covid-19/">Budgeting and managing your cash flow</a> is vital to ensuring you have the money to keep your business running. If you don’t manage your money right, you could end up spending more than you make and taking on debt.</p>



<p>If you experience significant growth, make sure you budget like you’re still in the early stages. The business climate can change on a dime, so it’s good to have a cushion or emergency fund.</p>



<h2 class="wp-block-heading">6. Keep Your Job</h2>



<p>Balancing a job and launching a business is challenging, but that’s an important part of creating a foundation for the future. Your startup may take time to become profitable, or worse, you could end up closing. If you quit your job, you’ll have to add worrying about your income to your stress.</p>



<p>It’s best to keep your job, at least part-time, or take on freelancing to ensure that you have financial security and an income source outside of the business.</p>



<h2 class="wp-block-heading">7. Engage with Customers</h2>



<p>Consumers <a href="https://highlightstory.com/developing-strong-brand/">care more about buying from a brand</a> with a human behind it, rather than some massive corporation. You can use this to your advantage with your startup to show your customers why you started and what’s in it for them.</p>



<p>Engaging with customers is crucial, but many owners focus on administrative, marketing, or product development and neglect their customers. Budget some time to respond to social media comments, emails, or blog posts. The time you put in now will pay off in the future.</p>



<h2 class="wp-block-heading">8. Ask for Help</h2>



<p>Entrepreneurs are go-getters, which is great for business but not so great for delegating. Startup owners tend to take everything on, which leads to mistakes, missing tasks, and burnout.</p>



<p>Ask for help. There’s no need to do it all yourself, especially with a wealth of freelancers, automation software, and contractors available. Hire accountants, <a href="https://highlightstory.com/find-choose-right-web-designer/">web designers</a>, graphic designers, and writers as needed and focus on the tasks that only <em>you</em> can do.</p>



<h2 class="wp-block-heading">9. Watch the Competition</h2>



<p>Competitors are <a href="https://highlightstory.com/7-simple-digital-marketing-tips-competitors-probably-dont-know/">influential to your marketing positioning and business success</a>. Nearly every aspect of a competitor’s business, from the website and marketing to the pricing and customer base, have an indirect effect on your business.</p>



<p>Keep an eye on the competition and see what they do well. Pay attention to social media and read reviews to get a pulse on their customer base. The more you can learn, the more you can make positive, informed decisions for your own business.</p>



<h2 class="wp-block-heading">10. Have Fun</h2>



<p>Launching a startup is a lot of time, work, effort, money, and stress, but you need to make time for fun. Sure, put the work in, but make sure you schedule time to relax and spend time with friends or family, enjoy your hobby, or spend time in nature. You can’t pour from an empty cup.</p>



<p>While this list is helpful for knowing what to avoid, you should accept that you will make mistakes when you launch your startup. All business owners overcome challenges and learn along the way – it’s how you handle the stress and obstacles that determine your success.</p>



<h3 class="wp-block-heading"><strong>Author Bio:</strong></h3>



<p><strong>Justin Ou</strong> is Co-founders and Marketing Manager of <a href="https://www.gerberlabs.com/" rel="nofollow">Gerber Labs</a>, an Orange County based engineering startup that is currently rolling out a platform that makes custom printed circuit boards (PCB’s) accessible to electrical engineering students, hobbyists and small businesses.</p>
<p>The post <a href="https://highlightstory.com/10-things-i-wish-i-knew-before-launching-an-engineering-startup/">10 Things I Wish I Knew Before Launching an Engineering Startup</a> appeared first on <a href="https://highlightstory.com">Highlight Story</a>.</p>
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		<title>What are the First Steps in Starting a Business?</title>
		<link>https://highlightstory.com/first-steps-starting-business/</link>
		
		<dc:creator><![CDATA[Official Guest Post]]></dc:creator>
		<pubDate>Sat, 15 Jun 2019 11:58:19 +0000</pubDate>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Leadership]]></category>
		<category><![CDATA[Startup]]></category>
		<guid isPermaLink="false">https://highlightstory.com/?p=13776</guid>

					<description><![CDATA[<p>Planning to own your business empire or become a successful entrepreneur? Go through the following guide if you are a little confused about the initial steps to be followed for starting a business of your own. Let’s take an example to start a Network Marketing business since it is in huge demand these days. One &#8230; </p>
<p>The post <a href="https://highlightstory.com/first-steps-starting-business/">What are the First Steps in Starting a Business?</a> appeared first on <a href="https://highlightstory.com">Highlight Story</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p>Planning to own your business empire or become a successful entrepreneur?</p>



<p>Go through the following guide if you are a little confused about the initial steps to be followed for starting a business of your own.</p>



<p>Let’s take an example to start a <a href="https://en.wikipedia.org/wiki/Multi-level_marketing">Network Marketing business</a> since it is in huge demand these days. One of the major attractions of business is that there is no particular limitation to be an entrepreneur. You don’t have to obtain graduation or some other types of certifications, or also you don&#8217;t need a huge bank balance in your account!</p>



<p>The major thing that you should be having is to be really passionate as well as a great plan!</p>



<p><iframe loading="lazy" title="YouTube video player" src="https://www.youtube.com/embed/bXLZ8I7s8tw?si=bHIfyrJyvJ8tAXzJ" width="560" height="315" frameborder="0" allowfullscreen="allowfullscreen"></iframe></p>



<p><strong>Read below and get the basics on how to establish your own business empire:</strong></p>



<h2 class="wp-block-heading">Step &#8211; 1 : Assess Yourself</h2>



<p>The first thing to figure out is to assess yourself! You should have a clear idea about why are you planning to start your own business. Is it because you want a side income or to leave your regular job and want to do something you love creatively?</p>



<p>Well, you should be having a clear answer for all the above-mentioned questions before actually starting your own entrepreneurship.</p>



<p>After having a solution for the questions then it&#8217;s time to fix on a business plan that you will be comfortable with.</p>



<p><strong>Write down in a notepad about the following ones:</strong></p>



<ul class="wp-block-list">
<li>The skills you have.</li>



<li>What is the thing that excites you?</li>



<li>Your area of specialization.</li>



<li>The amount of money that you can afford to spend.</li>



<li>The minimum cash reserve that you need to have in your <a href="https://dictionary.cambridge.org/dictionary/english/kitty">kitty</a>!</li>



<li>The lifestyle that you wish to lead.</li>



<li>And finally, are you serious?</li>
</ul>



<p>Make sure that you are cent percent honest with your answers. And this is what creates a strong foundation for the things that you do up next.</p>



<h2 class="wp-block-heading">Step &#8211; 2 : Fix Your Business Plan &amp; do the necessary research</h2>



<p>Fixing in mind on a business plan that is planning to start is the next step that you need to have a clear idea about. Make sure the idea you are planning to execute is a killer idea. Try to be more creative as possible. It should stand out from your competitors as a whole. It’s okay even if the plan that you are making is not an entirely new one, but have something special that your competitors don’t have!</p>



<p>You can even go out and talk with the people who are experienced and make a thorough understanding of the field you are going to explore. Or, in short, you can make deep research through both online and offline platforms.</p>


<div class="wp-block-image">
<figure class="aligncenter"><img loading="lazy" decoding="async" width="410" height="1024" src="https://highlightstory.com/wp-content/uploads/2019/06/starting-a-business-infographic-410x1024.png" alt="starting a business - infographic" class="wp-image-13775" srcset="https://highlightstory.com/wp-content/uploads/2019/06/starting-a-business-infographic-410x1024.png 410w, https://highlightstory.com/wp-content/uploads/2019/06/starting-a-business-infographic-120x300.png 120w, https://highlightstory.com/wp-content/uploads/2019/06/starting-a-business-infographic-768x1920.png 768w, https://highlightstory.com/wp-content/uploads/2019/06/starting-a-business-infographic.png 800w" sizes="auto, (max-width: 410px) 100vw, 410px" /></figure>
</div>


<p></p>



<h2 class="wp-block-heading">Step &#8211; 3 : Get Feedback</h2>



<p>Feedback plays a very major role in your business success. Provide a space for the customers to give their opinion about your product or service. It helps you to understand the positives as well as the faults in the way you deal with things. And once you come to know about the negatives, do think about it and take the necessary steps to improve them and make a <a href="https://highlightstory.com/7-ways-to-create-a-great-customer-experience-strategy">great customer experience</a> and happiness.</p>



<p>Have you seen in some restaurants where they would build a “wall of love”, on which you can post your messages on sticky notes or other really cute materials! That’s something you can also do.</p>



<p>This mechanism, allows you to stay relevant and stand apart from the other businesses.</p>



<h2 class="wp-block-heading">Step &#8211; 4 : Make It Official</h2>



<p>When you run a business firm in a country of your choice, it is always necessary to make the processes involved official. Everything should be done only legally. It&#8217;s very much important. Always stay genuine. The result you will be getting will also be a positive one. Always staying legal will help you to stay away from worries.</p>



<p><strong>Some of the checklists to be done are given below:</strong></p>



<ul class="wp-block-list">
<li>Business Name and Structure (like its Private, LLC, Partnership, etc.)</li>



<li>Registering Your Business</li>



<li>Goods And Service Tax ID</li>



<li>All necessary permits</li>



<li>License</li>



<li>Bank account</li>



<li>Trademarks, Patents, etc.</li>
</ul>



<p>In case you feel that you need certain clarifications regarding the things to be done to make it official consult a lawyer.</p>



<h2 class="wp-block-heading">Step &#8211; 5 : Write your business plan</h2>



<p>A business plan is a well-written document explaining the various phases through which business establishment travels right from the beginning of the product until its completion. Check out the key ingredients of a successful <a href="https://highlightstory.com/key-ingredients-of-a-successful-product-development-process-in-2022/">product development process</a> if you have just started a new business.</p>



<p><strong>Normally a business plan includes the following details:</strong></p>



<ul class="wp-block-list">
<li>Title Page</li>



<li>Overall Summary</li>



<li>Business Description</li>



<li>Marketing Strategies</li>



<li>Competitive Analysis</li>



<li>Design and Development Plan</li>



<li>Operations and Management Plan</li>



<li>Finance Factors</li>
</ul>



<p>For each of the topics include at least a three page long data. This document is what you will be needing all the time still your business exists. It will be updated as your business expands its horizons to newer heights.</p>



<h3 class="wp-block-heading">Finance your business</h3>



<p>Everyone might not be having the basic finance required to start the business. But there are a lot of options available for the ones who have a really wonderful idea but not the finances. There are various organizations (both Government and Private) who are ready to help the startup business firms.</p>



<p>Not everyone has the resources ready, but if you&#8217;re considering <a href="https://www.retreva.com/start-business-with-50k/">starting a business with $50,000</a> and want to use your capital wisely, platforms like Retreva offer curated opportunities to help you make informed decisions before committing funds.</p>



<p>You can also invest your savings if you wish to. But make sure that you take every step very carefully.</p>



<p>Another option available is applying for bank loans. Almost all nationalized and private banks offer loans for starting a business enterprise.</p>



<p>Then there is an option of conducting a crowdfunding campaign online. A bunch of small investments you receive through the crowdfunding campaigns will lead to a huge amount enough for you to start your own business.</p>



<h2 class="wp-block-heading">Step &#8211; 6 : Be an active participant in the development process of your product</h2>



<p>Now it&#8217;s time to create your product. Sometimes you may not have the technical knowledge required for developing the product. In such a case, you can make use of the services of a third party service provider. But apart from blindly giving out the process to someone make sure that you also actively stay updated while the development process.&nbsp; Supervision from your side is very much required. You can research a lot and have a better understanding of the product development flows. And such active involvement may help you to develop your product at a much cheaper cost. Also, make sure that you never compromise on the quality of the products made.</p>



<h2 class="wp-block-heading">Step &#8211; 7 : Build Your Own Team</h2>



<p>After a certain level, you will be needing a strong team to support you in running your business successfully. Make sure you hire a group of people who are ready to work in tandem with you and thus make your business a successful venture.</p>



<h2 class="wp-block-heading">Step &#8211; 8 : Select an Apt Location</h2>



<p>Choosing a location for your business office also need to be done with absolute care.</p>



<p><strong>Different people will have different priorities regarding office building. But still, there are e some basic things to be considered before finalizing one office location. And they are given below:</strong></p>



<ul class="wp-block-list">
<li><strong>Style of operation:</strong> You should make sure that the location you choose should be fitting for your business style and image.</li>



<li><strong>Demographics:</strong> When you choose a particular location for your business office, you should be considering your customers. This is very vital. Some businesses may be required to have the office location near to the customers and in some cases like a software development firm, it&#8217;s not a much bigger issue.</li>



<li><strong>Accessibility:</strong> Your building <a href="https://www.collinsdictionary.com/dictionary/english/accessible-location">location should be accessible</a> to your customers. Also, they should be provided with the necessary parking facilities.</li>



<li><strong>Competition:</strong> As a business owner you should have a clear understanding of the competitors that you will have to face once you enter the industry. Sometimes it&#8217;s good that you choose a location near to your competitor and otherwise the opposite. This factor will be depending on the business you choose.</li>



<li><strong>Building Facilities, Rent, and Other Miscellaneous Costs:</strong> The building space that you are choosing should have all the basic amenities required for running your business smoothly. The factors like rent, internet connection, etc. all should be taken into consideration before finalizing on one location.</li>
</ul>



<p>After selecting your building space, the next thing you need to take care of is the aesthetics of the location chosen!</p>



<h2 class="wp-block-heading">Step &#8211; 9 : Expanding your business</h2>



<p>There are multiple ways to expand your business once it starts out smoothly. You can try venturing into new markets, market to a wider audience through online platforms like social media, etc. Using the social media platforms you can conduct campaigns both paid and free. It will definitely help your business to grow to higher heights.</p>



<p>Another point to remember is to retain the present or existing customers. The service provided should be a wonderful experience for them so that they will be coming back to you whenever they are in need of the service!</p>



<p>Once you start following these strategies, never think of resting. You will have to work really hard to keep the customers coming back to pay since the competition out there is really high. You must try new ways to <a href="https://highlightstory.com/5-new-ways-to-strategize-for-your-business/">strategize your business</a> to boost growth.</p>



<h2 class="wp-block-heading">Summing Up</h2>



<p>This blog is just a small guide about the things to be taken care before starting a business! The actual truth is that teaching all of this through a blog is not possible.</p>



<p>You will have to do a thorough research before, but hope this blog will be a guiding light in your travel ahead.</p>



<p>Also, remember running a business of your own is not that easy. It requires pure passion, determination and will! You will be needing to always stay updated with the latest trends and as per time. If all these things are done accordingly, then success won’t be a much more difficult one&#8230;</p>



<p>So, there isn’t a perfect solution for a question like “How to Start a Business?”</p>



<p><strong>It&#8217;s purely relative.</strong></p>



<p class="has-text-align-center"><em>Wish you Good Luck!</em></p>



<h3 class="wp-block-heading">Author Bio:</h3>



<div class="fep-author-bio"><strong>Isha Parmar</strong> is a Senior Content Writer at Infinite Open Source Solutions, one of the leading <a href="https://infinitemlmsoftware.com/" rel="nofollow">direct selling software</a> and taxi dispatch software companies in India. She is a voracious reader and enjoys a broad spectrum of subjects ranging from romance and fiction to the latest technology.</div>
<p>The post <a href="https://highlightstory.com/first-steps-starting-business/">What are the First Steps in Starting a Business?</a> appeared first on <a href="https://highlightstory.com">Highlight Story</a>.</p>
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