Have you ever felt you needed a step-by-step guide to launching a #newbusiness? There are actually quite a few detailed options out there. However, sometimes it helps to see a quick and dirty explanation of what you might be looking at if you decide to start a business. A fast outline of what getting a new business off the ground requires could be helpful determining where to start, and where to go from the beginning. What are you going to have to actually do to get a small business up and running and keep it going?
Know the Need
This is how you develop your market. What need are you trying to fill with your new business? Who has this need? Are you filling a need for mostly young parents, single professionals under the age of 50, or the retired community? Is your market more broad or narrow than this? Your very first step is to know and understand your market, and the first step to doing this is understanding the need your business is going to fill, and who it is that has the need.
You likely know what product or service you are going to offer on paper, but you will have to actually develop it into something that can be sold. This may mean figuring out how to have a prototype made, or it may mean doing a test run of your service with the actually people and supplies needed to provide it. Then you have to test it. Let others sample it. Offer your service for free or at a discount. Determine if any bugs exist, and get them fixed.
Spread the Word
Once you have your product or service ready to sell to the general public, you need to develop a plan for getting the word out. The professional term for this is a marketing plan. It may be social media, local media, bulletin boards, flyers, word-of-mouth, or a combination of two or more of these options. How you spend your marketing budget is important, and if you see your plan isn’t working, tweak it until it does.
Monitor, Adjust, Tweak
Watch sales. What is happening? Are they growing? Are you seeing repeat customers? Are customers happy? How did they hear about you? If you have marketing dollars all over the place and most of your customers are from one marketing platform, you may need to concentrate more of your marketing budget there. If you are getting several complaints about something, you probably need to address the issue. If sales are not great, what can you do to boost them? If business is booming, what can you do to keep it growing?
Biz2Credit can help you with any financing you need along the way. Our extensive network of lenders offers a broad range of small business financing products to fit a variety of needs. Visit Biz2Credit.com today for more information.