Tictail: Innovation

UNIT 2
 

   E-business is growing fast, but some business owners who lack the knowledge of programming or the money to hire someone with a knowledge of programming may have difficulty embracing online business. That's where Swedish start-up company, Tictail aims to help. Tictail is a free, simple utility created by 26-year-old Carl Waldekranz. Tictail allows entrepreneurs to set up an online shop through which to sell their wares easily and quickly. With significant funding and solid footholds in both Sweden and North america, Tictail has already attracted 10,000 users and a 75% recommendation rate. Tictail is impressive and has strong propects, but it isn't entirely unique. It isn't the first site of it's kind and that may work against it. There are a few innovations on the model such as a "feed" that acts as an adviser as well as offering shop owners the ability to dole out discounts to shoppers, a service Tictail will charge shop owners for.

The fresh-faced Tictail Team

     
     While Tictail seems to do what they do very well, they aren't the only people who do it. In the tech business, that's dangerous. If you have an idea make sure it's either unique or superior enough to it's competition to stand out. Tictail cannot claim the former and, as time will tell, possibly not the latter either. Tictail's team is very young and lacks business experience. So many young faces is great to see in a business but it's also a risk. Lacking a team member who knows the industry through years of experience could hurt Tictail in the long run. Tictail was also recently given 1.2 million dollars in funding to get their operation running. One cna only hope they manage such a large sum of money wisely.