Things You Should Do Before You Start a Business
About to start a business?
Two things: you either have feelings of doubt or can’t wait to start. Either way, there are things you should know before you start a business.
Starting a business is the easy part; successfully running the business is the tough part. Take it from me, I had to close two businesses that I owned within 2 years.
Thankfully, I have been able to get things right by providing services and selling digital products. However, I learned a lot along the way.
Having spoken to several other business owners who have failed at business and have later found success, here are five things you should do before you start a business.
1. Figure out the marketing
Mess this up and it’s a failed business from the start. Marketing is the life source of any business. This is what you do to get customers. What’s a business without customers?
Where do you plan to market? Online? In newspapers or magazines? By social media ads? Through the use of influencers?
You need to map out a clear marketing strategy for that business.
2. Figure out how the product will get to the customer
This was a problem that I particularly faced. The orders I was getting for my physical product business were in other states. Delivery agencies in my state were only delivering locally.
I promised customers door delivery with an option to pay for the product on delivery. None of the delivery agencies I thought would get it done were willing to do that.
I had to cancel orders. It was painful because these were my first set of customers and it cost me some marketing money to get them.
Ensure that you have delivery agencies that can work with the terms you deal with.
3. Be ready to give room and cash for error
As a person just starting a business, you’re going to make mistakes. You should give yourself the room and the financial cushion for it.
Making mistakes is part of the learning curve. You just found out something that wouldn’t work.
Cash is vital. In your marketing, you’re going to experiment with different audiences. This costs money. However, once you get your perfect audience, it is bliss from then on.
4. Get a Mentor
I can’t stress this enough. Find someone who is into what you’re about to venture in and be willing to learn. Through a mentorship relationship, you will learn the mistakes they made and how to avoid them.
Moreover, they have contacts and information you may not have. Mentorship gives you first-hand access to these.
5. Adopt an online strategy
Everyone is online. No matter what you sell, be visible online. No one is going to discover you in obscurity.
Create social media pages for your business where you post about what your business does.
Get a website to showcase your products to potential customers.
Getting a website may not be something you necessarily need to do before starting a business but get it as soon as possible.
Not sure how you can market your business or how to build an online strategy, we’re here for you.