Starting a business isn’t easy, and never has been. It’s particularly difficult in the current climate, however, and that means that start-ups need to try harder than ever. These tips are essential for getting through the year – and seeing success at the end of it.
1. Less is more
When it comes to hiring, it’s really important not to run before you can walk. In the past, businesses might have hired a full staff before even launching. Now, you might find you can start off with a smaller team and build as you go. This keeps overheads down and gives you more of a chance to turn a profit in your first year. Millennial workers in particular are happy to wear more than one hat at their job, so you might find a head of marketing who is also happy to pitch in with web design or create all of your content themselves. When you are ready to expand the business, that’s when you hire more people.
2. Location is key
With more and more businesses launching solely in the online sphere, many start-up owners think there’s no value to be had from setting up office in any particular location. In fact, this couldn’t be further from the truth. Setting up in an area which is close to other businesses is really important. Those links could be potential contacts, new customers, and referral generators. Working together with other businesses is huge, and being in the right location can help you to make that happen.
3. Market before you start
The hugely competitive world of online marketing now demands that you build an audience before you launch. Start small, with social media profiles set up and a website landing page to capture email addresses. In the weeks before launch, start a content campaign and ask for more email sign-ups. On the day of launch, blitz social media and send out emails to all those captures. This will help you launch with a bang. The process is the same for new product launches later on.
4. Don’t be isolated
Just like our tip for working with other businesses earlier, you should also be interacting with all kinds of people. Don’t isolate your brand – turn it into a conversation. Interact with your followers, personalise your communications with your customers, and work with social influencers to spread your message. All of this will help your customer base to grow, and will increase brand loyalty so that they shop with you again in future. Be part of the world, not an entity advertising outwards to it. If you can get involved in community events and projects, do it. You will see a big benefit.
All of these tips will help to strengthen your brand and give you a better chance of surviving 2018. As a start-up, simply getting through a year is an amazing achievement – but if you follow them, you will be on course for a great success story.