SO YOU WANT TO START A BUSINESSA short series to help you succeed!
From an early age I was reading DIY and entrepreneurial books. I can remember reading these books as young as 16 trying my hardest to understand the concept of being your own boss. I worked many jobs out of high school, always having that little seed in the back of my head to be my own boss. After all, I would rather make myself money than buy my boss a new car every year. There are those of us who regardless of the risk have a desire to be our own boss, and there are others who are completely content working for the man bringing home a stable income, benefits etc. My wife is the latter, even though she currently runs a wellness business, and I am the former.
There is no doubt that starting your own business is a risky and often terrifying leap. So many questions that won’t be answered until you are neck deep. Statistics show that 20% of new businesses go out of business in their first year and only 50% make it past year 5. I would personally wager this has less to do with services or product and more to do with lack of brand awareness and continuity. If people can’t find you, they cannot use you. If people don’t trust you, they will also not use you. I won’t rattle off statistics, instead I want you to understand and implement the basics of what makes a successful business. It’s not a secret and it’s not hard, but you have to be willing to invest in yourself. I can almost guarantee a business that waivers from the essential steps is doomed to be a statistic.
Here are some things to consider when starting a business:
Location – Location is key to driving foot traffic and creating brand awareness. Your physical establishment should be highly visible and accessible to your potential customers.
Service – Does the service / product you are selling have a market in your location? Will you be able to rely on foot traffic or is digital your bread and butter?
Brand – Did you do your research and create and establish your brand mark PRIOR to launching your brand? Did you hire a professional designer to take vision to reality?
Website – Have you secured a professional website designer to take your vision from paper to digital space? This is not an option, a professional website is essential for success and being discovered in this digital age.
Local SEO – Once your website is complete establishing your presence in online directories will secure your place next to your competitors. Avoiding this step will guarantee they are found before you.
Social Media – Have you secured your social tags and implemented a steady and consistent posting schedule?
Marketing – Setting aside 15% of your monthly gross is the average a business should invest into marketing per month. This includes signage, print and collateral, advertising and any other form of marketing.
My goal for this series is to teach and inform the startup and self employed how to properly start and maintain their business image, branding and digital space to stack the odds in thier favor.
The 5 essential steps I will cover are:
1. Logo / Branding
2. Professional Website
3. Local SEO
4. Social Media
5. Long term marketing plan
I am hoping to share some of my knowledge so that you have a better chance of success in this digital and superficial age. I want you to be empowered with the knowledge of business, marketing and self promotion and have pride in what you do.
Much love, Jeremy