Starting a business can be one of the most confusing, life changing, and difficult things you can go through. To approach it, you might attempt to speak to people you know that have been in your position before. You might even cold email someone who is in your niche and ask them for advice or where they found a specific vendor or manufacturer. Or maybe you go the traditional route and go to business school, invest in all the textbooks known to man, and shoot your shot.
Regardless of how prepared you are, entrepreneurs are generally strapped for cash and seeking guidance on the decisions throughout their journey. Whether you started a business during COVID, or have been curious about one but don’t know where to start — we’ve scoured the internet for the top tips on how to successfully start a business.
Look to the below as your guide of tips on all things business start-up-related for the goal-oriented entrepreneur.
Tip 1: Don’t over indulge
By this we mean don’t splurge on things you know you don’t have the cash for. In the beginning, you should be very thoughtful about each dollar spent as your business starts to get off the ground. Each decision should positively impact your business. And remember, you could always spend a bit more when your business is more mature.
Tip 2: Early feedback
As you start to develop your brand, product, and strategy, run the information by your customer segment via marketing to get a better idea of how the time might land. That way when you do start selling your SKU’s, you’ll already have a market who has heard of you and is willing to purchase from you.
Tip 3: Get online
Generation Z and other younger consumers have definitely forced the rest of the world into an online-focused market. Whichever way you might feel about this, failure to join in could be your actual demise. Make sure you develop an online purchasing platform to access more consumers, and ultimately yield more sales. Many websites like Wix, WordPress and Squarespace offer free or very affordable plans for creating a website.
Tip 4: Connect to the press
Early on especially, and throughout your product and brand’s journey, you should be trying to land press coverage. You can do this several ways: Hire an agency to rep your brand and connect with press on your behalf or connect directly by providing briefs to journalists.
If you need inspiration on marketing tactics, just look at how the movie, Minions: The Rise of Gru took marketing to a whole new level.