Growing your business from scratch is a journey best travelled with som
e careful consideration and money management.
Starting anything means you need to have plans, which are air tight and consider all the possible threats and risks as well as those you would not be able to see. It is not as easy as you think, even if you have a solid gold business idea that you just cannot wait to unleash on the market. At the end of the day, you need to consider one very important thing, how much money you are going to spend and in the area of SEO & Social Media marketing.
The downfall of many start-ups is the fact that they spent too much money on unnecessary variables in the first half of their business and not enough on marketing their business. If you do not have traffic and conversion you do not have a business.
Take a look at what you are starting, especially when you are a new player in the market. What are your strengths? So you have a new product and you want to unleash it on the market, but how do you fight with the established players and get the word out? This means money needs to be pumped into Search Engine Optimization so that your business appears on page one of the search engines. This is the most important aspect when it comes to success in any business venture, educating potential clients about your product, service or idea and allowing them to know that it is there in the first place.
Letting people know you exist is important in anything! Take for example your own social media accounts like Soundcloud, 43Marks, Wanelo, Blab.im, & Google +. You’ve got to let people know you exist on there so that you can connect and build a following.
Going into any market new and fresh is a risk for anyone to take because market psychology can change with the times and look at us now. We are in the middle of a credit crisis and economic slowdown of massive proportions, this means that markets are always going to be unstable and they are always going to be unpredictable. Making sure that your business is visible is critical.
One major mistake that new business owners make is pumping in tens of thousands of dollars into an office, a lease and other varied costs of office equipment and bills, which only adds to liability for your business. Do not be led into the trap and realizing sooner or later, that the money you could have used to save or expand was pumped into something as inconsequential as rent.
This is why the virtual office is one of the best solutions for anyone to start a business on a shoestring budget. By cutting your cost to a minimum, you are able to concentrate on other aspects of your business like traffic and marketing.
All in all a business isn’t a business without clients. And in order to get clients, you must market to people and convert them into clients/customers.