Building a business

BUILDING A BUSINESS

Building a business from the ground up is exciting. You have done your research, executed a meticulous business plan and now you’re ready to leave your mark on the world of business.

Stay Ready

Most things seem easier on paper than when you’re actually running your business. Be prepared to come across unforeseen pitfalls and when they happen, do not panic, instead, be ready to get into solution-mode.

One of the biggest challenges new businesses face is not budgeting for emergencies. Basically, when you do not have an emergency budget, you may not be able to get your business off the ground. Operations may run smoothly at launch; however you could run short on paying for the overheads, upskilling budget, marketing, and other basics that keep the business running.

Be curious about your clients

Learning about your clients is an ongoing element of building a successful business. The benefits of staying curious include a more streamlined experience, effective use of funds, marketing adjusted to client needs which can increase your return on investment and more. It’s great to be an expert in your line of business but staying open to learning, especially from your biggest source of income, your clients, can grow your business at an exponential rate while creating a connection and building brand loyalty.

Communicate directly with your market on Yep!

Strengthen your brand

Employ the services of a brand consultant or company and let them work their magic with your company. Ensure that your project is what your business actually delivers. Coordinate your branding so it all aligns to your business promise.

Take your business online and build a website. This is where you will create content centred around your products and services and where you will lead potential clients to from other platforms such as adverts and social media.

Your brand style must be recognisable and consistent through all communications.

Build a strong team

A dependable team does not come by some stroke of luck. What your clients like, your potential employees probably like too. So when putting together a team, consider how you’d sell your product or service to your very first or most valued client, then use that same energy to hire your team too.

Use your passion for your service or product to impart it onto your team. Train your team to be the brand so you do not have to oversee everything all the time, you know the business is in safe hands.

Get social

Social media is a great resource for marketing. It allows you to target the exact demographic you're looking to sell to by platform. If social media is not your forte, then employ the services of a reliable social media agency or start small with an intern.

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Be open to innovation

Be ready for change. The COVID-19 pandemic has taught us what happens to businesses of all sizes when disaster strikes. Consider different scenarios and how you'd still be able to do business despite them.