Before you give yourself a big pat on the back for having a great business idea, ask yourself if you have all the know-how to go about it the right way!
Things to Know Before Starting
There are certain things that you must know before you jump into the bandwagon of millions of new businessmen trying to make it out there. There are certain factors that that need to be considered, on the fulfillment of which, you can go ahead with your business venture.
Why Would Anyone Be Interested in Conducting Business With You?
It may be shocking to realize, but your what you set out to sell will probably be another product in a sea of similar items. So what makes it so special? It only becomes special if you believe it. In other words, unless you are convinced that it is a useful product or service that you are offering, you cannot convince other people to buy it. Once you can demonstrate that you think your product is the best on offer, your business will be ready to take off.
Every business requires three things that form its support pillars, namely a lawyer, a CPA (Certified Public Accountant), and a creative person.
While the first two are very easy to get, it is the third one that is difficult to find. And, as a matter of fact, it is the third person that will be vital for your business. In the early stages, your business will depend heavily on promotional and branding activities. If your business lacks attractive logos, slogans, marketing campaigns, etc., – in other words, creating and establishing a business identity – all of which is taken care of by the creative person, it will not get going.
A small tip for you – try being that creative marketing designer yourself. No one knows your business better than you do.
Can You Sing Jingles and Impress Other People?
One of the crucial factors involved in getting any business established is promotion. You have to do everything you can to get your business noticed. Most businesses come and go before anybody ever registers their existence. Most people are too busy to notice and remember your business. Therefore, you have to constantly bring it to their attention, until you establish a brand identity. However, it is important not to mislead people, because that will create a negative reaction, resulting in the failure of your business.
Can You Beat the Competition?
Positioning yourself in the market is an important task. Check out your competitor’s marketing patterns and then decide on your positioning strategy.
What will your positioning strategy be? Is it best quality or a more innovative price strategy? Is it better after-sales service and a better marketing campaign, or are you planning to create your own niche? Whatever your plan, just concentrate on giving your best.
Marketing is About Perception
Marketing is a perception that you want to create in the mind of your customers. Perception basically encompasses what the public thinks about your business. An efficient and persuasive salesforce can create a positive perception of your business. Along with this, you can use marketing strategies such as an eye-catching business name, graphics, and the like to also create an aura about your business that will attract customers.
How Do You Propose to Create Your Business Identity?
Everyone loves to see a lovely face. Your business is no different. Beautify it by giving it a face that the public will like and identify with. Also, evolve and make changes to the look every once in a while to prevent it getting jaded with time. However, while giving your business identity a face-lift is useful, it is important not to change it altogether, or you will end up confusing your customers. So, even if you buy a ready-made business, your main aim is to project it in the best possible way and not launch an entire new identity for the business.
Finally, love your business like you love yourself. Only then will you see new perspectives for its growth.
