Becoming an entrepreneur and starting your own business is not just an exciting career prospect; for many, it means achieving a dream. Launching a company from the ground up takes hard work and dedication, but also know-how. Strategy can play a large role in making your new business a success.
Here, let’s explore the 3 best ways to launch your own start-up business.
1) Seek Funding
The simplest way to get funding is to apply for a loan. Many banks are happy to provide loans to start-up businesses as long as they can offer a solid business plan to back up their big ideas. The process of making the business plan can also help you stay on track with your goals.??
The internet makes it easier than ever to seek funds from friends, family, or even strangers. Services like Kickstarter and GoFundMe offer opportunities for new companies to receive funding from basically anyone.
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An interesting aspect of Kickstarter is that you are required to hit your fundraising goal in order to receive the funds. Some see this as detrimental while others find it very motivational. In contrast, any amount of money raised on GoFundMe will go toward the business, even if the campaign falls short.
Kickstarter is meant for creative projects, so depending on the nature of your business, GoFundMe may be the better fit.??
2) Improve Your Business Knowledge
Launching a start-up requires a great deal of grit, and it is important to be knowledgeable about business topics. Pursuing online coursework is an excellent way to brush up your knowledge on your own time. Many universities offer the opportunity to study commerce online, providing an industry-relevant education which can easily be applied to your start-up.
For quick courses outside of a university setting, Skillshare and Lynda both offer a wide variety of webinars which can be helpful for new business owners. From finance best practices to Excel tips and tricks, there are many topics, which are easy to learn in short courses via your laptop or their apps.
A nice bonus to these services is the ability to stop and start the courses at any time; this makes it easier to work learning into your busy day.
3) Create a Digital Presence
Your start-up is nothing without a solid customer base, so it’s important to give your business an online identity. Start with the basics: Facebook and Instagram.??
Facebook is an easy resource for customers to access your location, contact information, and business hours. But if you put in the effort, it can connect you to new customers.
This platform provides a community environment for your buyers. Encourage them to engage with you on Facebook by asking questions and requesting reviews. High ratings on Facebook in the early stages set your business up for success. Additionally, your business can use Facebook advertising to promote itself to a carefully curated demographic.??
On Instagram you’ll have a bigger opportunity to visually engage to your existing and potential customers. Make your followers feel special by giving them a behind-the-scenes look at your business. Instagram is also a friendly environment for contests and giveaways. A small prize can go a long way, resulting in high customer morale and an increased following.??
Once you’ve established a presence on traditional social media platforms, it is time to focus on building your online reputation. When your business officially opens its doors, encourage patrons to leave reviews on Yelp, Google, and Facebook. Potential customers will be motivated to support your business after they see glowing reviews. Think of this as the modern form of word of mouth.
