Saw this answer to a reader question the other day from an entrepreneur (@yaneekpage) and it got me to wondering how many people have the very same question. How do you get a new business off the ground? Growing a business is a perfect topic for this time of year, the season of rebirth and renewal… where we all feel just a bit reenergized.
According to Inc, the best time to start a business is when you’re young, the younger the better. That’s the time of life when it’s easier to pour yourself, heart and soul, into a business. You have fewer responsibilities, plus the time and energy to give to something — not always true as the years pass.
According to Bloomberg, 8 out of 10 entrepreneurs see their dream of business ownership fail within 18 months. Obviously there are essential steps to startup a business, just as there are essentials for promoting, and building that business.
Here’s a summary of the key things to think about…
- Start with the mindset of an entrepreneur — it all hangs on you, and if you don’t have the skills, knowledge passion or drive to keep the business growing, it won’t happen.
- Learn some basic skills, especially what to do when starting a business. Outline a clear vision ow what you want to do… your business goal. Make sure you’ve looked at the industry you want to enter and the market you’re targeting. This will help you understand if your own idea of a business is actually viable under current conditions.
- A major mistake when starting a small business is thinking you can succeed by doing just what everyone else is doing. That’s not it. You need to be bold, different, get attention to get people talking, noticing you. You’ve got to disrupt the way things have always been done with something different, better, faster.
- Be sure to “wow” every customer, every time, and deliver more than they expect.
- Also, consistent, effective advertising and promotions make a real impact here. Look for partners. Try different promotions. Print flyers and hand them out if you have to, and do it consistently. Social media can be a big help in advertising for those new businesses on a budget. Create a Facebook page, or an Instagram account and put up samples of your work. Visuals really get people’s attention, so take the time to make them the best they can be.
- Encourage family and friends, or customers to spread the word about you, and your services. Word of mouth is wonderful advertising, and you’re connected to a lot more potential customers than you think you are.
- Keep a database of your customers and stay in touch, this helps bring them back to your business next time.
That’s al to to take on… which explains why keeping a new business going, especially in today’s economy, is such a challenge. Why so many just don’t make it.
The good news is that it can be done, if you want it badly enough, work hard enough, and are just a little bit lucky. Remember, our team of promo products experts are waiting to help you find just the right product to effectively, affordably get your name out there.