As you take your first steps towards getting your dream off the ground, there are several questions you should ask yourself. Is your idea easy to pitch with a clear way to show return on investment? Have you identified who will want to use your product or service? Is your solution innovative or a minor alternation of a formula? Once you determine the answers to these questions, you can use these 7 tips for getting your small business off the ground.
Talk with prospective customers
Hands down, talking to your customers is one of the most important things you can do. Find out what they want to accomplish, what their problems are and how their current solutions aren’t able to address their problems. Make sure you have a sizable potential market for your products to ensure you will launch a business that will churn a profit.
Know exactly who is going to benefit
You can’t rely on the adage of “if you build it, they will come.” You need to find and target the right audience for your service or product. If you are ready to make the leap from employee to entrepreneur, you should know exactly who would benefit from your offerings. Make these people aware that your product or service exists and how it differs from what the competition offers.
If you want to get your start-up off the ground, you probably will have to work about 80 hours a week with very little pay. This is impossible if you aren’t deeply passionate about the work you’re doing and what you hope to change for consumers. Stay passionate and remember that your business can make your life better, so don’t give up when the going gets tough.
Always prioritize customer service
You came up with an excellent idea. You figured out how to use smart technology to grow your business. Now you need to make sure you prioritize customer service. Customer support should be top priority day in and day out – each customer should feel like they’re the most important person in the world. According to Wasp, 40 percent of small business owners anticipate they’ll increase revenue by improving their customer experience and retention. Make sure you adopt an omni-channel solution so you can keep track of customer interactions and offer a unified brand experience.
Focus on what makes you unique
You have an idea you think is going to take off. You’re figured out which small business loans you need to get your business up and running. Now -- like every small business entering a competitive market -- you need to figure out your key differentiators. Focus on those points. Customers need to see a clear difference and reason to move from the competition to you.
Do one thing really, really well
It’s easy for small businesses to lose focus in a competitive space if they are constantly trying to keep up with what the competition is doing. Instead of trying to be good at it all, focus your energy on one thing and make sure you’re doing it better than everyone else. If you can excel at just one thing, you’re more impressive than delivering a lot of mediocre results.
Prepare for rejection
While you may think everyone will love what you’re offering, you need to prepare yourself for others to tell you that your market is too small. Do your best to persevere, and remember even Skype was rejected countless times before investors decided it would succeed.
Getting a new small business off the ground isn’t always easy. In order to get your business up and running, you need to have determination, drive and commitment to hard work. When you commit to doing these things, you can make your dream of running a successful small business a reality.
What tips can you share with others who want to get their small business off the ground?