Congratulations! You have an idea that you want to turn into a business. Take a look at important steps to set the foundation for a successful, exciting future.
Research Your Product or Service: This step is important, so you can evaluate if there is a need for your product or service. Simply visit the brick-and-mortar location or use a search engine, for example, Google or Yahoo to find other products like yours. Knowing who your competition is, and how they market their products can provide you with incredibly valuable information. Next, visit their website, social media platforms, sign up for email, and read their customer reviews. This will provide insight into what exists on the market and problems there are that you can help with. Then, answer the million-dollar question, “What makes my company unique, and why will customers buy from me instead of the competition?
Write Your Vision and Mission Statement: It might take some time and soul-searching, but both statements will help you focus on your overall strategy for your business. A Vision Statement defines your desired future for the company and the Mission Statement defines your business and includes your objectives for reaching your goals and vision. The two may overlap and can be edited throughout the life of your company.
Write Your Business Plan: A business plan is a working, dynamic document that includes a detailed description of your business concept. Business plans are important for you and your colleagues to review and update as your business changes and are necessary for securing funding. The sections should include:
Now you’re ready to think about how you’ll market your business. Start with using social media – be sure to fill out as much as you can in the about sections of your profiles as this will help your customers learn more about you. Don’t post just to post – create a content strategy for social media that adds value to your customer without the car salesman tactics. Create your social media posts as if you were your customer – what do they need to know to use your product/service? Are you answering the same questions over & over? Try creating a video that answers these FAQ’s, or provide tips that your customers can use right now. Using other digital marketing techniques like SEO, blog writing, & email marketing will also give you a well-rounded online presence.
Setting the foundation for your new business and thoughtful planning is key to future success. Contact us today and let's get back to rebuilding your business together. Ask us about this in your free 30-minute virtual coaching session. Just contact us at 949-484-6349 or fill out our online form.