You’re adventurous. Spontaneous. A real risk-taker.
That’s probably why you’re joining the ranks of 27 million other entrepreneurs in America.
With competition so fierce, you need more than just a bright idea. There are some basic building blocks every budding business owner needs in order to succeed.
Ready to learn beginner strategies for getting your small business off the ground?
Let’s start with the basics.
Love What You Do
This is a cliché concept but that doesn’t make it any less true. Do what you love and you’ll never work a day in your life.
Whatever business venture you choose, make sure it’s something you’re passionate about. Entreprenurialship is much less glamorous than most people think.
It involves long hours, minimal breaks, slow ROI, and performing thankless jobs. The one thing that’ll help keep you moving forward is the love you have for the work you do.
Identify Your Target Market
Starting a business can be overwhelming. From choosing a brand name and logo, location, and point of sales system to hiring staff and ordering inventory, your mind is likely going in a million directions.
Take a breath and slow down.
The first question you need to answer isn’t so much what you’re selling but to whom. Who is your target audience?
Are you creating a new app for millennials, a cleaning product every housewife in America would kill for or a child’s toy? Once you identify your audience, your entire marketing plan and business structure will follow suit.
Another pro-tip: build a product or service that you’d invest in. Before you decided to become a small business owner, you were a consumer – you still are!
So what type of product would you buy? What characteristics do businesses you trust and patronize offer?
These are great jumping-off points for your new business.
Market Your Business Properly
Simply creating a business that you love isn’t enough to succeed. You need to promote and market yourself effectively. If customers can’t find you, how will your business ever grow?
Avoid taking a one-sided approach to marketing. There’s a wide range of tools you can utilize including:
- Email campaign
- Paper ads
- Community involvement
- Create a website and blog
There are over 63,000 searches on Google per second. The majority of the civilized world uses the internet to find answers to their burning questions. Make sure that when they perform a search, they find you.
Optimizing your website for SEO and understanding the infrastructure of the internet are both effective strategies for gaining traction as a new small business.
Stay Positive and Enthusiastic
Positivity and enthusiasm are contagious. If you’re upbeat and passionate about what you’re doing, your staff and customers will be too.
Sadly, people will be lining up to judge, criticize and critique your new business. Don’t give them any ammunition.
Take the belief “kill ’em with kindness” and apply it to your start-up.
Most business owners can agree that their company is their baby. It’s an idea born from your mind and heart.
You’ve put all of your time and energy into fostering and growing your small business from the ground up. Now you’re vulnerable – putting yourself out there into the consumer world.
And to be honest, it won’t be easy.
People are just waiting for you to fail. Don’t let them win!
Remain positive and enthusiastic about the future of your business and the service you’re providing. This positivity will rub off on your employees and keep loyal customers coming back as a show of support.
Focus on Customer Service
Without your customers, you are nothing.
This may sound a bit extreme, but it’s true. Customers are the heart and soul of any business – without them, who are you serving?
That’s why focusing on customer service as an entrepreneur is some of the best business advice you’ll ever get.
A shocking 84% of customers consider themselves loyal to a particular retail company. With 65% of a company’s business coming from existing customers, building this initial customer base is crucial for any start-up.
Show your face as much as possible at the forefront of your business. Hire employees that share your same vision and goals.
Your staff should be as loyal as your customers. Hire those you trust and who you know will treat customers with the same attentiveness and respect as you do.
Size Up the Competition
Keep your friends close and your enemies closer. If you want insight into your target market and how to succeed as a new business, look at your competition
Examine what they’re doing right and wrong. What do customers seem to like and what about their business structure leaves customers wanting more?
Now, give those customers what they’re missing! Capitalize on your competition’s flaws by making them your strengths.
Take notes from experts in your niche to identify what your target audience is looking for.
Avoid thinking of your competitors as your enemy but, instead, as your inspiration.
Get Down in the Trenches
The best way to determine what your business needs to succeed is to get down in the trenches. That means working right alongside your employees.
Perform every task and job involved in the daily operations of your business. Then, you can see first-hand what’s working and where you can improve.
It also shows your staff that you’re one of them. That you care about their needs and happiness.
This creates loyal employees who are invested in the success of your business almost as much as you are.
Beginner Strategies Lead to Big Success
A successful business is built on a solid foundation. If you’re starting a new company, understanding these beginner strategies will guarantee you have a strong foundation to build on.
Once you choose a project you’re excited about, you can start gathering all the necessary components for success.
The business world is constantly evolving and changing so be sure to keep checking our blog for tips and tricks every entrepreneur needs.