Having what you believe is a good business idea is only the start of your journey. In order to get your product or service into the market place you will need to ensure that potential customers and investors know about your product and are interested in either supporting you or purchasing from you. The following techniques will help you to get your business off the ground:
If you need to obtain finance and support to get your product made and onto the market you will need to attract the attention of investors. To do this you should consider the following three aspects:
- Technology is everywhere; you should use it to assist with your efforts. Create a page for your business on one of the social networks and get your company out there. If the idea is good this may be enough to attract an investor. Alternatively you can try crowd funding websites.
- Targeting investors which will be interested in your business and market will increase your chances of securing funding and will save you time and effort.
- Personal networks can also lead to opportunities. Make sure all your family and friends know what you are doing; they may be able to help or know someone who can.
- Customer Base
You need to build a customer base in order to have people to purchase your products. You can do this before your product is even ready. The best way to build a customer base is to start discussing your product on the social sites and discover if they are interested in your proposed product.
The feedback from your social sites can also help you to establish which customers may be interested in your product. This will provide you with an idea of the age range and type of consumer you need to attract and may help with your marketing efforts.
- Complementary Products
An excellent way of reaching new customers and building a good reputation is to approach businesses which offer a product that is complementary to yours. If you can convince them that you product is of interest and will add value to their business then you may be able to piggy back their promotion or simply approach their customers through a carefully designed leaflet. This can be a great way of building a customer base quickly.
- Business Plan
It is imperative that you have a business plan; this will provide you with a set of goals and allow you to track your progress in comparison to your expected progress. A business plan will be essential if you need to calculate the amount of funds required to start your business and particularly if you need to convince others to invest in you. It will also show you are professional and take your business seriously; this will encourage others to believe in you and support you. A business plan does not need to be complicated; it simply needs to highlight expected sales and how you expect to get these sales. You will then need to record your known costs and estimate any other costs to show that your business is a worthwhile venture.
- Marketing Plan & Sound Speaking Abilities
To complement your business plan you will need to develop a marketing plan. You may wish to target social media sites and offer discounts on a first purchase or repeat purchases. You could even offer a loyalty card. Your marketing plan should also ensure you utilize the opportunity to do direct marketing. There is still a place for this and, if properly done, you can send every prospective customer a free gift which will ensure they remember you when they need your services.
However, to do this properly you must have a good idea of which customers are likely to purchase your products. You do not want to send free gifts to anyone! To create a really successful marketing plan you should create a thirty second pitch, this should summarize your business and you, ensuring the listener is interested in what you have to offer.
Last but not least, it is equally important to entice the audience; the best way to do that is with public speaking. Organize workshops and attend business seminars to let people know about you and your business. By creating brand awareness you make other curious to know more. However, for an audience to trust your product and your company, they must first get to know you.
Professional Guest post by Denny Averill & LondonSpeakerBureau.com!