Small Business Entrepreneurs Will Have A Better Chance At Succeeding When Provided

964 Words Dec 3rd, 2016 4 Pages
LaunchScore was founded in June of 2014 with the idea that small business entrepreneurs will have a better chance at succeeding when provided with scientific market research early on in the entrepreneurial decision making process. Normally, market research requires a considerable amount of resources whether it be money when using 3rd party companies or a lot of time when mining for data on their own. LaunchScore has created a website that eliminates this crucial business pain, but still is facing major problems that have hindered LaunchScore’s growth and success up to this point.

Over the past two years, LaunchScore has been challenged with many obstacles, most prominently the number of new and return users to their website. LaunchScore’s revenue model relies on the numbers of users and their time spent on their webpage, making this problem severe and very much a priority. It seems this problem is occurring due to the fact that LaunchScore is solely dependent on social media ads and organic searches from incoming and returning users.

After several interviews with key stakeholders, it was clear that LaunchScore’s primary concern was finding a way to increase user retention and the time spent on the website by each user. Our team has developed several possible solutions with the intention to solve this problem. After attending a focus group hosted by LaunchScore, and attending multiple interviews with the stakeholders, we found several variables that could be…

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