Starting your own business could be one of the best career moves you will ever make. Instead of being an employee, stuck in the rat race you get to create something that means something to you. Something you can devote yourself to, pouring in your time, passion and creativity, However taking the leap can be scary, you go from having a reliable income to having to stand completely on your own two feet. When many startups fail it’s not as easy as quitting your day job and earning lots of cash. You have to go about things in the right way to succeed, here are a few areas to consider so you can make sure you’re getting it right.
Mistake One: Overlooking Branding
This is one area new companies often overlook which is a fatal error, as your brand is everything. Your company name and your logo are just the start of it all, you will need to work out what kind of message you want to portray to your customers. The best brands don’t just sell a product but a lifestyle, so do your market research to find out what it is your customers want. You need to find your unique selling point so you can offer this while being different to other businesses. After all, there will be many similar out there and you will all be competing for the same customers.
Mistake Two: Being Unorganised With Finances
Getting your finances right is crucial for any business, but in the beginning, the success of your entire company hangs in the balance. You will need to ensure you’re not overspending and that everything is being ordered and recorded correctly to prevent massive issues from occurring. You could hire an accountant, or make use of business software. Sites like Quickbooks templates can make things quick and easy, prevent errors and help you to look professional. Business budgeting software is another useful thing to look into to help you keep in control of your finances.
Mistake Three: Not Investing in Marketing
Getting your business noticed can be more difficult than you think. You can set up a website and stock it with incredible products, but without promotion, how is anyone going to find you? There are a number of ways you can go about this. You can pay for advertising, Google Adwords and link building are both effective. You can also write a blog to promote your website, this will help to boost the rankings in search engines and eventually lead to more organic traffic. You should also use social media to help get the word of your company out there. Once orders start coming in, encourage customers to leave you reviews. Reviews from real users on social media are invaluable, and can hugely sway anyone who is on the fence about ordering.
Mistake Four: Not Writing a Business Blog
A professional website is vital when you own a business, but setting up a fantastic site is just the beginning. The hard part is generating interest to it, while marketing and paid advertising are both ways to do it there’s another surprisingly simple one and that’s writing a business blog. Sites like WordPress can easily integrate with websites, and regular new content being submitted attracts the attention of search engines. On top of this, interesting and informative content will attract a readership and make your company look more trustworthy.
Start a blog first. A blog is easy to monetize in a very passive way, so you can easily make some passive income with affiliate marketing or blog sponsors once everything is set up. Then start promoting your blog with PR & Free Publicity to gain followers.