Shake it up is a nutritional company aimed at introducing the model of a healthy diet and living to the New England society. Being a startup company, there are various risks that we face while trying to establish ourselves. There have been numerous competitors in the market because a majority of the society is pushing towards a healthy living. There are already established competitors who have formed a niche in the market and acquired some loyal customers. This is a threat that will mar growth of the company due to lack of customers. We, however, have a unique product, one that is not exploited by any other company, and it makes us stand out in the market. This is the ability to combine a healthy diet, a relevant routing regimen as well as a placing emphasis on a healthy lifestyle.
Inadequate financing is one of the challenges that the company might face while running its operations. This is because we require a lot of startup capital when developing the model for a successful company. Competitors are also a key threat to the growth of the enterprise because we are only in the startup stage (Clarke 2010). There might be inadequate market for the firm’s product if we do not tap into the market and convince the population to work with us. We have unique products and services that we can use to tap into the market. We can form strategic allegiances with some of the market leaders as a basis of entry into the market. Advertising has been known to be a powerful tool when selling any given product to the public. There are different avenues of advertising, and if we could tap into all of them, then we would have success in the market. Advertising as well as strategic partnerships are the best strategies (Barrow and Molian 2005)to ensure market dominance albeit being a new company in the market.