Owning a business is hard work. Not to mention that before you started your business you spend hundreds of hours working for somebody else and you learned firsthand how a business should and should not be run. At least when it comes to the business you want to open. However, even if you learned the basics you might be choked by all the information that you have to know before you start taking big steps in the business world. The first thing we can tell you is to take a deep breath and realize that everything will be ok. Now we do have some tips for you, and even though they might seem like something you already know, reminding yourself on the priorities of your business is an important lesson for every business owner.
Location is everything to a business. Whatever you want to open and run, make sure that it’s easily accessible to people. Owning a business that is outside of town might be good for your health as the clean air is amazing, but it will be terrible for your business as everyone that does not own a car won’t be able to reach you. Furthermore, if you want your business to grow you have to be where the action is and that is usually at the center of the town.
In every business, there will be people hired that are not experts in their current job. That is fine everyone needs to learn and can learn after a few months to do anything. But hiring the right people is more important than the highest expertise. If you have bad managers managing people the projects will fail. If you have an idea and the people you work with don’t get it or if they can’t imagine how to make it a reality you are surrounded by the wrong people. Get the right people in the right position and your business will prosper. Don’t forget that experience is also very important.
If you need more money the best way to get it without taking a big loan is to get new investors. Sometimes it’s good to just get money but more often it’s amazing to get investors that care about the product. They will be much more willing to make sacrifices and to dedicate more of whatever you need at a given time. Plus, their feedback will be valuable information.
This is a no-brainer. Social media should be at the top of every business as the face of the company. While everyone is making cuts when it comes to social media, you should make sure that you are present everywhere and dedicate one worker to manage your media accounts. Make sure he is an expert in PR as social media can make or break a business today.
Opening a business can be a costly thing. However, even when you invest in all the machinery, the people that will work there and other expenses you still need to set aside a considerable amount for marketing as your product needs to reach more ears than it would with word of mouth. Professionals can spend millions of dollars on marketing, but since you won’t have that kind of budget, or else you would not be reading this article, let’s get down to the best 4 ways you can market your business on a budget.
Like summer pop songs that are catchy and which people sing in their elevators, the pitch for your business should be as catchy. The attention span of most people is not above a minute, so if you can fit what you want to say about your business in that one minute you are golden. One commercial cleaning company in Minneapolis used a catch phrase, “Give Us the Dirt“. Another Toronto Cleaning Company in Canada uses that catch phrase, “We Don’t Cut Corners, We Clean Them“. Think about the catchy way you can market the best thing about your product, whether it be the price, or the materials used in the making of the product, or just how unique the service that you are providing is. But make it short and catchy.
If for instance, you are opening a bakery business or a bike shop or anything in fact that can help anyone, think about making one day 50% off or just certain services free. For instance, if you are opening a bakery offer the first 50 loaves of bread free on Sunday. This won’t cost you a lot of money but will make more than 50 people come to your store which is amazing marketing on a budget. Or if you are opening a bike business offer to accept the first 5-10 bikes on a 50% discount once month. The community around your business will soon learn of your offers and will spread the word of mouth faster than usual, and will, in fact, consider your business a part of their community which is a big boost in household recommendations when it comes to the service you offer. You will be the first thought on everyone’s mind in that community when they think of the service or product that you are offering.
Whatever you are offering people are usually not educated enough to know a lot about the product. Many come and ask for more information inside your business, but more just ignore it for fear of showing ignorance. If you want to spread the word about your business watch for events where you can give speeches or presentations on why something that you have can be good for them and why they might need it. No matter what you are selling if you can’t sell it to them in a speech then you might be better running a different kind of business.