Harris KhanWhether you want something more than a 9 to 5 job or you feel like taking more and more responsibility and being in full control of your professional development, starting a business can’t be easy. Not even when you have the best business ideas. Actually, the idea, even though it may look like the core of a startup, it’s actually the least part of it.
Whether you want something more than a 9 to 5 job or you feel like taking more and more responsibility and being in full control of your professional development, starting a business can’t be easy. Not even when you have the best business ideas. Actually, the idea, even though it may look like the core of a startup, it’s actually the least part of it.
You need a business plan, a strategy and a handful of resources to count on within the process of growing your business from zero to hero. Start with the right mindset and acknowledge the things you should know when taking the entrepreneurial way:
Stand out from your competitors
Think outside the box. You’re not the first one who identified a need and an opportunity, nore the first one who thought about the products or services you provide. There’s a wide market out there, a competitive field, a variety customers can choose from. So you need to stand out. To make some noise. To become visible, by any means. A stunning, viral social media campaign, a Times Square billboard, a consistent content marketing strategy that makes you look like you’re the expert to listen and ensures you the educator role for your target audience – these are some of the actions that could have the effect of putting your business under the spotlight.
Plan ahead and prevent, instead of reacting
Of course you don’t have a crystal ball to predict the future, but you do have access to a series of previous experiences – even if not yours!, to a history of your field – how it started, how it’s going, what changed and even to some patterns – everything others already tried and worked or haven’t worked. You can make a forecast based on all of these information; overlay everything that could change these patterns:
- Does your business have a seasonal flow?
- Are sales consistent or do they fluctuate regularly?
- What are your competitive advantages and how could you integrate them into your business strategy and communication plan?
For instance, if you’re a home appliance retailer, Black Friday can’t really take you by surprise. But if you plan ahead, book some digital billboards, set your performance campaigns flawlessly and replenish your stocks considering the purchase habits of your customers, your chances to increase your sales and position as a reliable retailer even in busy and congested times like Black Friday sales grow extensively.
Look for the long time wins
Yes, a huge discount campaign will bring you loads of new customers. But they won’t come back to you, unless you’re constantly giving them the same benefits. Similarly, an ads campaign may only bring users to your website as long as you’re constantly investing in it, but, without a great SEO for your website, you may pay a higher cost per click or even worse, get penalized by the search engines. Short wins are awesome, but they must always be backed up and supported by a solid, long term strategy. Think of it in these terms: would you rather sell 100% more today and then go back to your usual sales rates or have a steady 15% sales growth, year over year? When you learn to juggle with both short and long term strategies, your business success won’t be questionable anymore.
A successful entrepreneur is always a good observer, a great learner, an achiever. Learn from others’ mistakes and wins. Be open to acknowledge their stunning ideas and strategies. Allow yourself to engage in some experiments, but try not to transform your business into a trial and error caroussel.
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