2. You will need powerful marketing to create a presence early on:
This is not something that can wait for later, or be done poorly. Right from the start you simply must have a good website, and a decent social media presence. Get a good-looking website up and running before you have your grand opening party. You may even want to get some videos done to post on the site and have an e-newsletter ready to go from the start. Above all you need to identify the core values of your business and create messaging that clearly delivers them to your customers, without that non of your marketing will be as effective. I have increased marketing ROI on projects by 500% and more.
3. You will need skills:
Whatever skills you have learned along the way, whatever your specialty at work today, it will likely be true that you will need to bring those to bear in your start-up right from the very beginning. When you start, your resources and help are limited. You will wear a lot of hats. If you are good at accounting, great, that is one less thing you will need to pay for. Leverage your contacts and don’t be afraid to innovate. Be leery of bringing on too much staff and overhead too early. Outsource what you can, especially those things that are not done every day. The effective use of resources can bridge these talent gaps. This is how I built multimillion dollar businesses for my clients.
Who knows about your new business? No one. Where will these new customers come from? You will need to let people know you are there, so before you ever open the doors to your new business, you better have a great business plan in place. Start by contacting everyone you know. That is one source. Social media, your website, Twitter, Facebook, and LinkedIn? That's two. Marketing and PR is three. Pay-per-click is four. I suggest you come up with at least five different ways to bring in customers before you begin. If you can, a great way is to develop partnerships with your mentors and vendors. There are untapped resources all around you.
5. Persistence and patience:
It all takes time. Creating that new enterprise takes faith and perseverance. Keep at it every day. Follow your plan. It almost always pays off, especially if you were ready, right from the start. Learn from your mistakes and be adaptable.
Contact me today for a FREE CONFIDENTIAL REVIEW of your prospective business. I have guided some my clients from concept to negotiating the acquisition of their company and put millions of dollars in their pocket.
What You Must Know Before You Start Your Business.
1. You will need more Capital:
One of the primary stalling points any entrepreneur faces in a start-up is the need for capital. There are a variety of ways to get the money you need. My associates and I have developed multiple platforms for getting capital including expertise in maximizing the chances for success with "Crowd Funding". If you have a great idea for a business, you will need a budget and a business plan. I can help you with those too. Developing effective and efficient operations will make the money you do have go farther. You will need to plan finances for more than a year of doing business including: launch the venture, buy product, get inventory, market the business, and pay yourself.