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How To Start And Grow A Strong Business Like An Expert
Here are the steps you should take if you want to start a successful business
1: Write a Business Plan.
Your plan should:
- Be as objective and rational as possible. What may have seemed like a good idea for a business may prove not viable because of heavy competition, insufficient funding, or a nonexistent market.
- Serve as a guide to the business’s operations for the first months and sometimes years, creating a blueprint for company leaders to follow.
- Communicate the company’s purpose and vision, describe management responsibilities, detail personnel requirements, provide an overview of marketing plans, and evaluate current and future competition in the marketplace.
- Create the foundation of a financing proposal for investors and lenders to use to evaluate the company.
2. Get Business Assistance and Training.
- Government programs. Take advantage of free training and counseling services, from preparing a business plan and securing financing, to expanding or relocating a business.
- Entrepreneurial training. One of the best ways to learn about starting a business is to take classes, either online or in person, from experienced entrepreneurs who are actively and successfully doing what you want to do.
3. Finance Your Business.
There are plenty of other options to help you fund your new venture. Here are some options:
- Friends and family. If you have a friend or relative with some spare cash, you have another potential way to finance your business.
- Crowdfunding. A crowdfunding site like Kickstarter.com can be a fun and effective way to raise money for a relatively low-cost, creative project.
- Attract an Angel Investor. When pitching an angel investor, all the old rules still apply: be succinct, avoid jargon, have an exit strategy.
- Selling assets. Sometimes, you may have a financing method and not even realize it at first. Sell a car or other property you can dispense with.
4. Choose a Name.
Name selection is often an overwhelming, frustrating, and exhausting experience. The name of your business has a tremendous impact on how customers and investors view you so choose wisely.
Pay attention on possible infringements to protect yourself from possible legal issues.
“A name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers“. The legal term for brand is trademark. Pick a good agency to help you with your branding.
5. Get a Domain Name.
If you are a business, a domain name gives you credibility. Few people will be willing to do business with a company that does not have its own domain name. Getting a domain name involves registering the name you want with an organization called ICANN through a domain name registrar. Godaddy and Namecheap are good choices.
6. Set Up Your Website.
You can make your own easily enough but if you’re serious about your business you need a serious developer that will set up for you everything that’s needed and help you avoid costly mistakes.
7. Set up Social Services.
Social presence is a must nowadays so you must make sure you have all accounts and branding sorted out. If you have your own developer, you should get all done by them.
8. Plan Marketing and Sales.
To grow your business, you need a marketing plan. The right marketing plan identifies who your target customers are, how you will reach them and how you will retain your customers so they repeatedly buy from you.
Having a strong unique selling proposition (USP) is of critical importance as it distinguishes your company from competitors.
9. Test and Optimize.
There is a lot to test and optimize in a business, from marketing and sales strategies, website speed, conversion rates, headlines and so forth. Also lots of testing procedures and tools for each. Having proper training or trained staff it’s a must if you want it done right.
Probably the easiest way to get your business up and running in the shortest time possible is to outsource the parts where you don’t have the expertise. You have to accept you need help and take the smart decisions for your business not for your ego.
Xtreme Freelance can help you with all your development needs. Contact us for more information.