Many new businesses fail within the first year, and fewer still manage to make it through the first five. If you want to succeed, then you need to do everything right – and also rely on a bit of luck. Here are some essential tips which will lead the way to that success for a new business.
1. Have a strong product or service
If what you are selling does not appeal to anyone, then you are not likely to be able to sell it, no matter how good your marketing is. This is the first essential thing to figure out. Your product or service must serve as a solution for a pain point that your customer has. Let’s take the example of an already successful brand, such as Apple. When they launched the iPod, the pain point was not being able to listen to music easily without carrying lots of CDs around. The iPod solved that, and became a worldwide hit.
2. Know your customer
In order to sell to your customer, you need to know who they are. This involves figuring out who your pain point applies to. Let’s take the iPod example: one type of customer who wanted to be able to listen to music easily was a gym-goer. They wanted to listen to music while running or doing exercises. You might remember that Apple released plenty of adverts showing graphics of people running while wearing iPod headphones. You can also target your customer more easily when you know who they are. To get a gym-goer on board, you can put adverts in gyms, on Facebook groups and Instagram pages dedicated to fitness, and on fitness websites.
3. Set up your base
An office is the base of any successful start-up. Even if you are a sole trader, having that office space will make you more professional and give you access to better opportunities. The more professional you look to your potential clients, the better – especially when you don’t have years of experience or lots of customer testimonials under your belt. An office also gives you a base of operations where you can get into the right frame of mind to work – and gives you room for expanding your team as and when you need to.
4. Be web-friendly
SEO is one of the most important things for a company to keep in mind these days. If customers can’t find you online, they probably won’t buy from you – and that goes for physical businesses, too. Your website is your portal to your customers, and it must be showing up high in search results for the products or services that you sell. It also has to be easy to navigate and understand, so people can see what you’re about easily.
5. Be mobile-friendly
If there’s one thing more important than having a website in the first place, it’s making sure that it works on mobile. A responsive design – one that works both on mobile and on computer with minimal disruption – is essential. Most web users these days are accessing the internet via their smartphones, so if you aren’t catering to them, you could be losing half of your audience in one fell swoop.
6. Keep innovating
Once you have a great product and the customers start coming in, it’s not enough to stand still. You have to keep moving. Listen to your customers and what they are saying. Do they have any other pain points you could incorporate into your product? Do they have any suggestions for how to improve? How about new products that you could bring forward? Always be thinking of the next thing.
7. Use influencers
Marketing these days is almost universally centred on social media. If you don’t have the followers and the coverage, you probably aren’t going to sell very much. So how do you get your brand discovered? By using social influencers. These are people with a large following, all of whom trust their views. Send them a sample to review and watch the word spread like wildfire.