Alec Lynch, Founder & CEO of DesignCrowd, gives expert advice for entrepreneurs looking to start a business. Subscribe to GoDaddy on YouTube: http://bit.ly/GoDaddy-Subscribe0:20 Why speed is important in a competitive market
0:48 Importance of conducting a competitor analysis
1:10 How long does it take to start a business?
1:18 Why testing ideas are crucial to business success
1:46 Mistakes entrepreneurs should avoid
For aspiring entrepreneurs and small business owners alike, great ideas are constantly coming down the pipeline. Whether it’s an idea to start a business or launch a new product for an existing business, Alec Lynch encourages go-getters to gather valuable insights from a competitor analysis and jump on the opportunity quickly. Time is of the essence — waiting to take action allows competitors to jump on that idea before you, sweeping up your potential customers, investors and even employees. In a competitive market, small businesses can’t afford to stop improving, testing out their ideas, and finding validated solutions to stay ahead of the curve. Hear expert tips as Alec inspires fellow entrepreneurs to start now and not let great business ideas go to waste. All it takes is that first step on the path to success.
GoDaddy is having conversations with experts to help entrepreneurs everywhere. Subscribe and stay tuned for upcoming videos. http://bit.ly/GoDaddy-Subscribe
94% of businesses are investing in competitive intelligence. https://smallbiztrends.com/2020/01/co...
It takes 6 days to start a business in the U.S. https://www.dynadot.com/community/blo...
Concept testing can be a cost-effective and flexible solution. https://www.qualtrics.com/experience-...
Learn more about DesignCrowd:
Resources for Small Businesses:
Venture Forward study: https://www.godaddy.com/ventureforward
Up-to-date info on COVID-19: https://www.cdc.gov
COVID-19 resources and grant information: https://www.covid19businesscenter.com
The information contained in this video is provided for informational purposes only and should not be construed as an endorsement or advice from GoDaddy on any subject matter.