Starting your new business is a journey that will take you through many ups and downs. That said, it is exciting and one which is extremely rewarding. Plus, many people say working for themselves is the best thing they have ever done. When starting your business, there are many things to consider: branding, finances to websites, and funding. Below is an overview of a few things you should consider when starting your own business.
Creating your website
Will you be making your website yourself or hire a professional to make one for you? Depending on your requirements, a website will help bring in new customers to your business and allow you to appeal to them in a different way. Before starting your website, make sure you put a plan together of what you will need on it and the type of website it will be, whether eCommerce, or a brochure-like site.
When running your business, it is important to stay on top of your finances. Using an account package, you will be able to track how you are doing instantly through a click of a button. Not only that, but you will also be able to send invoices and keep an eye on your expenses. By using digital accounting, you can easily allow your accountant access to your books without having to visit them in person. This will enable them to log in and see how you are performing without leaving their office to meet you; it can all be done over a phone call.
How will you brand yourself?
Logos, brand colors, and marketing materials should all be thought about before launching your company. Your logo is important, as everyone will see first and give them the first impression of your business. Done cheaply, it can be detrimental to your brand. Brand colors can portray a lot about you; if you are a luxury brand, you may want more gold’s and silvers used instead of bright funky colors. By hiring a graphic designer, they can help you with all of this.
Testing your idea in the real world
If your idea is completely new, how do you know it will work? Before investing heavily in your idea, it’s worth creating some prototypes and seeing how people respond to it. This is a great way to get actual feedback and to get other people’s opinions. Take note of what people are saying is you can use this to develop your idea and make it even better.
Will you need investment?
Will your business plan require you to need significant investment, or can you gradually grow your business? If you need investment, have you considered how you are going to raise funds? Make sure you do your research and put together a solid business plan to explain each step of your journey and how the money will be spent. Angel investors, bank loans, competitions, friends, and family, there are many ways for you to pitch and bring in some funding for your idea.
If you want to save up money prior to starting your own business, then looking at diversifying your income can help you build up a pot to get you up and running. You can get a lodger licence template and rent out a spare room, you can create a side hustle that allows you to save up to have funding available and gain experience in running a company, or you can sell off items you own. Knowing where the money is coming from is vital.
We’re all constantly being told that Business-2-Business (B2B) marketing is changing and that we need new marketing strategies to cope with this. We’re being told that the modern buyer doesn’t respond well to the B2B sales funnels of old and their buying habits are so mysterious you’re going to need a crystal ball or psychic octopus to continue to operate in the field. The good people over at American Image Displays have the only strategy you'll need.
The focus of doing business, regardless of the stature of your company is all about getting more. They say you need more clients, more money, and more everything! And this means that there comes a point where we just can feel overwhelmed by the sheer magnitude of it all. When it comes to working smarter in the business world, we've got to find ways to get ourselves out there but when we are a small company or it's just us, we can struggle to keep every plate spinning. With this in mind, what are the best approaches to guarantee that your small business can reach these outer limits?
Outsourcing (It Isn’t As Expensive as You Think)
Whether it’s an SEO expert or someone to help you revise your website copy, outsourcing is something that every business, big or small, is taking advantage of. When you start to outsource, you can begin to see the wood for the trees. When we do too much, we can let certain components fall by the wayside. By outsourcing things that we find difficult, especially in the marketing world, it will force us to focus on things that we can do better. When it comes to search engine optimisation because it is such an evolving component of marketing, it can be a struggle to keep on top of the latest rules when it comes to Google's algorithm. But this is where having someone who dedicates their livelihood to this will make it far easier for you.
Work With Other Companies
Extending the olive branch is a fantastic way to go about doing business. When you start to work with other companies, by either having guest bloggers or even vendors, when you start to work with businesses in industries that complement yours but also share a target audience, you aren't treading on each other's toes. You can set up a referral program or offer package deals, and it's these things that don't just help you expand your reach but it makes you reputable by association.
When you start to work with other companies networking becomes a well-oiled machine as part of your business strategy. Every meeting is the potential to network, and when you start to reach out and let them know that your business is open and what you can do for them this can be as effective as a social media post. But when you are networking, it's important to remember that there is an etiquette to it. Don't be obnoxious. When you start to build a business, it's very easy to get blindsided by the money and you start to do everybody as potential profit. It's far better to be a business leader who is marketing to help others rather than yourself.
Simple, but incredibly effective. These three components can expand your business reach in insurmountable ways. Marketing can be perceived as a very selfish endeavour to promote their own efforts. But by reaching out to others and asking for help, you are naturally beginning to network in a very organic way. This means that you will have a good reputation. And as we all know, your reputation can precede you.
All business owners want to score more clients, but the route to achieving that goal isn’t always clear. Sometimes you need to think outside of the box if you want to succeed, but usually, you just need to follow a set of straightforward ideas.
With that in mind, there are some tips and tricks below that should assist you in identifying, contacting, and winning those new clients. Regardless of your business's nature and what you do to turn a profit, the same rules should apply. Just tailor this guidance for your industry, and you should have no issues.
Research new marketplaces
So, you sell products or services to customers and clients in a few specific industries. Now is the time to look at those products or services and work out whether there are other marketplaces for them.
Perhaps you sell products in a certain market that could also be useful for companies in the automotive industry or something similar? You might have to redesign your packaging for companies in that marketplace, but it’s worth the cost if you open your business up to thousands of new potential clients.
All companies have to expand and grow if they want to succeed in the thriving business world, and research is the key to effective expansion. So, get started as soon as possible!
Give free gifts to potential clients
When you identify a list of potential clients who should be interested in your products or services, it's vital you work hard to get their attention. While you can cold call or send letters or emails, sometimes it’s better to try something different.
Sending free samples or gifts to your potential clients should help to create the best first impression. You could also offer to turn up at their business premises and demonstrate how your products or services could save their firm time and money.
Everyone loves getting something for free, and potential clients who receive gifts are far more likely to listen to your pitch. Food for thought?
Know your stuff!
The most important thing you need to consider when looking for new clients is your ability to answer questions with the best possible answers. Clients will always want to discuss your products or services, and you need to know your stuff!
It's all well and good to identify a list of potential clients and send gifts, and you might have a great business, but if you can't explain the virtues of giving you money, it's probably not going to happen. You need an effective sales pitch, and you need to practice it a LOT.
There are lots of articles online that will help you to write a decent sales pitch, and you can always practice it with members of your team before heading out and pitching to clients.
Now you have a better idea about the things you need to do to score more clients for your business this winter, it’s time to set the wheels in motion. Develop your strategy, conduct your research, and make the investment of time and money. If you pay attention to the tips from this post, there’s a reasonable chance you’ll avoid any mishaps. Good luck!
Most entrepreneurs wish they were better at managing their time. There are only eight hours in a standard work day, but it feels like you have 20 hours worth of tasks to do every day. Entrepreneur Europe has an idea about how to manage that time of yours..
People who hate their jobs tend to move on and look for something else. Some even change their careers when they’re feeling unfulfilled by work.
But what do you do if you love your career, but need a new challenge? The good news is that there are a lot of ways you can turn things around and inject some excitement into your job.
Here is some useful advice for taking on a new challenge, without changing your career.
Move to a new location
f you’re starting to outgrow your current workplace, moving to a new location could help keep things fresh for you. A change in location not only helps you realise new career opportunities but opportunities for your personal life too. Perhaps you want to move closer to home to be with family, or even move to an exciting new city or country?
Wherever you decide to relocate, you’re going to need to get on the job hunt. Check out cmr.com.au for some exciting opportunities that could invigorate your career. A change of scenery brings all kinds of changes, and could be just what you need to shake things up.
Start chasing that promotion
Perhaps a part of your frustration comes from outgrowing your role? When your job starts becoming routine and easy, it could be a sign that you’re ready for more. Start preparing for a promotion so that you’re ready to go for it when the opportunities come your way.
Volunteer your time and skills to help others
If you’ve always felt like you could do more with your skills and expertise, why not use what you have to do some good for others? If the COVID-19 pandemic has taught us anything, tit’s that community values are more important than ever. There are several ways you can use your skills to help others, including mentoring, pro bono work and volunteering to help charities and good causes. This can bring a lot of fulfilment to your role, and could even help you discover new opportunities that could help you choose a different path for your career.
Take on a side hustle
Side hustles are a great way to develop other interests that you have, without sacrificing your career. There are inspiring stories of people who’ve embarked on incredible new ventures, from starting fitness businesses to their own pizza brand! It’s possible to be passionate about more than one thing at a time, so why not give it a try so that you can get more out of your career.
If you’re dissatisfied with your current situation, then it’s time to make a change. Even if you love your career, it doesn’t mean you have to stay exactly where you are - there are ways you can develop and grow tbring exciting change to both your career and your life outside work. There are all kinds of challenges out there waiting for you, so which one will you take on first?
When lockdown started in March, workers across the UK packed up their office equipment and set up work stations in their own homes. Bedrooms, kitchen counter-tops and dining tables became the new way of working for millions of people. According to the ONS, 30% of adults in the UK were exclusively working from home at the start of July. BBC News has the info...
Author - Chris
Author, Editor, Creator of this website.