There is no shortage of advice on starting a business. The best way to ensure you’re getting the right advice is to ask for it. The number of people who have started businesses and subsequently had to close them down is almost sickening. It’s so tempting, then, to just give up. But if you ask any entrepreneur, they will tell you that persistence and determination are two key factors in starting a new business venture. If you take these seven tips from successful business owners, it might just save your business from oblivion.
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Define your market first
Before you start marketing your business or service, you need to define your market. What is your market? What are the main problems your customers are solving and why are they the best solution to those problems? This might sound obvious, but so many entrepreneurs forget to do it. And once you’ve defined your market, it’s time to think about who your target market is. This is perhaps the most important step you can take before you start marketing your business. You need to decide who should buy your product or service and why.
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Build a great product or service
Great products and services sell themselves, but how do you make sure yours is great? There are a few factors that you need to think about: How easy is it for the customer to purchase your product or service? Do they need this feature or that function? What are they paying for? Some important questions to ask yourself here are: How many features are necessary to make my product or service worth buying? How much does it cost to make my product or service? How long does it take to test drive a new car before buying it? What is the return on investment (ROI) for my time and money?
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Learn how the market works
When it comes to marketing a business, the most important thing you can do is learn as much as possible about your target market. You can do this by reading books, taking industry training courses and speaking to businesses in your niche. As you learn more, you will notice three things: People always talk about how hard it is to sell products and services. This is generally true, but it doesn’t mean it won’t be worth the effort. It just might take a little longer. People are often afraid to be the first person to say something. Let people be the first ones to speak their minds about your product or service to avoid giving bad reviews and build a stronger relationship with your target customer base. Marketers can often get by without doing any sales or lead-generating activities for a while. This is a huge mistake. It’s one thing to market a product or service to yourself, but it’s another to not actively market it to other people.
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Network, Network, Network
The more people you network with, the better. By networking with business owners in your industry, you will find similar problems and challenges others are experiencing. By learning more about your industry, you can better understand your customer base and better market your product or service to them. Businesses and organizations will often have social media pages where you can interact with your followers. By posting content, grow your following and exchange leads with other businesses.
Set up a blog or a Facebook page
Blogging or Facebooking is a great way to get your message out to the world. But what if you’re not comfortable writing by hand? There are several online blogging platforms you can use to create a professional blog or a Facebook page without even having to think about it. There are several benefits to using a blogging platform over a regular website: You can include a significant amount of content with very little effort on your part. You can create a blog or Facebook page without writing a single word. You can use social media widgets on your blog or Facebook page to increase engagement and interaction with your readers.
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Get an investor or a mentor
Investors and mentors are always good to have in your corner. If you’re starting, you might not be able to find anyone interested in helping you launch your business. However, if you’re already an established businessperson, you can often get free advice and guidance from more experienced entrepreneurs. If you’re looking for a mentor, several resources can help you find one. Many entrepreneurship organizations have mentor programs where you can find potential mentees.
Refuse to be censored by big companies or by your colleagues
There are several times when you need to stand up for yourself and your business. Whether it’s at work or in school, you need to assert yourself and speak out when something isn’t right. How do you do that? You can either speak your mind to management or the school board or you can complain to your colleague about the same issue. When you complain to your colleagues, you’re doing both of you a favor. Not only are you telling them that their behavior is wrong, but you’re also letting them know that you’re willing to stand up for yourself too.
Conclusion
The best way to ensure you’re getting the right advice is to ask for it. The number of people who have started businesses and subsequently had to close them down is almost sickening. It’s so tempting, then, to just give up. But if you take these seven tips from successful business owners, it might just save your business from oblivion.
