Some startups see an opportunity to serve older Americans with technological solutions that cater to their unique needs. Entering this market could be a timely decision, as the number of people older than 65 is expected to increase to 85 million within the next two decades.
Online sofa seller Burrow is using vacant storefronts in New York City to display its modular furniture. The window displays feature an animatronic fortune teller called the Lord of Leisure who sends fortunes via text messages to passersby.
The process of ordering a drink at a bar -- and later closing out your tab -- can be problematic, but innovating in this area has proven to be challenging for startups. The difficulty stems from the fragmented nature of the industry and the chicken-and-egg dilemma that startups face as they pursue customer acquisition, writes Catherine Perloff.
Reaching out to old contacts is an important part of networking, but you also need to expand your community by connecting with new people, writes Chris Heivly. This allows you to tell your story to new people and potentially gain access to valuable new expertise.
Passion is an integral part of the sales process because your pitch will sound forced if you don't truly believe in the product, writes Jack Martin. "If you believe your product or service provides value to other people, sales is easy," he notes.
Personalized videos can be a powerful tool as you strive to build relationships with users and manage hundreds of accounts, writes Lauren Enea of Intercom. Make sure your video content is designed to encourage a specific action, and allow your employees to put a personal spin on the content they create, she writes.
The meal-kit industry has received significant attention in recent years, but some of the largest players have run into challenges relating to customer retention and other issues. Some businesses have experimented with selling their products in retail stores.