I assume you have already decided what kind of business you want to start. But once we decide what kind of business we want to start, we don’t know where to go from there. These 10 tips are pretty simple, but yet crucial. Each one is just as important as the others. Many of them come from books like Small Business Marketing For Dummies, Whatever Happened To Business Ethics, Entrepreneur magazine and other resources I have read over the years.
1. Research your business. There are tons of websites (including Associated Content) that has free information on how to run your kind of business. Entrepreneur.com has fabulous business basics and beyond for all businesses in general. They even have a magazine to subscribe to. (I have a subscription, and it’s amazing.)
2. Define your target market. Who are you trying to reach out to? What do they want to buy? What services do they need? If you don’t know who you’re targeting, you may have a hard time selling your services. You need to know who you’re reaching out to so you can know who your prospects are.
3. Do market research. Market research is researching your competitors, what kind of products they are selling, who they are selling it to, and how much customers are spending on the products or services. You will find out if they are satisfied with the services, and if they are happy with the company’s prices. You can research by watching reviews on YouTube, reading blogs and reviews (there are tons of reviews on A.C.), and researching statistics, etc. Doing market research is how you gain something called market share. You find out where the customers are spending their money, then you reach out to those same customers so they can purchase your product or service, too.
4. Define your brand. Branding is deciding what you want your business to stand for, and deciding how you’re going to represent that. For example, let’s say you have a cleaning business. You may find that other cleaning companies in your area provide their services at noon. You may want to provide your services earlier than them, so you may name your company: “Sunrise Cleaning Service“. Your slogan may be “The early birds get the worm”. Your logo may be a sun rising over the horizon. This will be your brand. When people see your ads, they will automatically know that they can expect your services earlier than your competitors.
5. Find some potential customers or prospects. Write down all the potential customers you know. You may find that almost everyone you know may be your potential customer! That’s great. You need someone to approach with your new services.
6. Be willing to work long and hard. If you have a short attention span, business may not be for you. You have to have enough will power to keep trying even if you are struggling. You can’t be the type of person that gives up easily. Put forth more effort than time. Putting in a lot of time without putting in the effort is time consuming and time wasting. It causes you to put in lots of time, then find that you didn’t get anything done.
7. Know when to give it up. Sometimes we want to start businesses that are bound to fail. It could be because we aren’t passionate about it, we start it at a bad time, or we start it in a bad area. Business is not for everyone. If you are trying to start a business that you aren’t really passionate about, don’t start or you may end up quitting. If you are losing lots of money in the business, it may be a sign to quit. But if you aren’t a quitter, and think that you can make it work somehow, then just give it a rest. You can always come back to it later.
8. Consider holding demonstrations. Consider holding a free demonstration meeting for your prospects. It can be as small or large of a meeting as you want it to be. A free demonstration will help prospects to trust your product. They get to see how it works, and test it out for themselves. Keep the demonstrations short (about an hour) fun, and straight to the point.
9. Don’t hard sell. Don’t force your customer to buy anything and everything. Try to actually sell them something they want. You can always suggest another product that may enhance the performance of the one they want. If they decline, don’t push it. When a customer buys a product that you made them buy, and don’t like it, then they will resent you for it. If you are going to sell a product, you might as well sell them something they really want. When you do this, the customer will find you easy to deal with, and they won’t feel like you’re taking advantage of them.
10. Move on from rejection. This one was a very hard one for me, and sometimes still is. You have to learn how to overcome the word “no”. Don’t let it discourage you. Someone will say yes, you just have to get past all the no’s. You have to hang in there long enough to get to the yes.
I must tell you that having God in the picture is always helpful. When business gets stressful, it is always good to have a higher, more powerful being to call on. The happiest business owners have a relationship with God, and God helps them with their business. He has definitely helped with mine. You must keep this little pledge for motivation called the Pledge of Success: Today is a new day, a new beginning. It has been giving to me as a new gift. I can either use it or throw it away. What I do today will affect me tomorrow. I cannot blame anyone but myself if I do not succeed. I promise to use this day to the fullest, realizing it can never come back again. This is my life and I choose to make it a success.
Other Associated Content articles you may find helpful:
The Advantages Of The Female Business Structure
Play Like A Man, Win Like A Woman: How To Get Ahead In Business & At Work
Good luck on your new business.
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