When it comes to putting up or running a business, a wealth of tips and tricks is available to all those who are willing to learn and take the risks. But sometimes, the sources can be so overwhelming it leads to confusion as to where you should begin. When this happens, one useful point is by going back to the basics.
So if you’re looking for easy and effective ways to put up and sustain your business, here are three foolproof tips you can use:
Create a Marketing SchemeComing up with your own marketing strategy does not necessarily mean that you should pull something original out of thin air. After all, there are marketing strategies out there that were previously tried and tested by entrepreneurs which you can employ as well.
- One of the most common marketing plans you can use is direct marketing. This scheme necessitates that your promotions and actual selling are directed to customers. Be it advertisements or phone calls, direct marketing entails appealing to the customers on a personal level.
- You can also try indirect marketing, which involves a much less intimate interaction. This plan allows you to highlight your company’s name instead of a specific product you’re selling. This is also a good opportunity to promote your image.
There are many other schemes you can choose from. If you are keen on coming up with your own, you can do so but proceed with caution. Conception of a great idea is one thing but executing it is another. If it doesn’t work, you’ll only have yourself to blame.
So whether you choose to adapt a scheme that has already been proven or you want to undergo through your own trial-and-error process, always arm yourself with a backup plan.
Establish Your Own FranchiseAssuming that the path you take to business success prevails, you can expect that your company will grow in size. When this happens, you have to make room for a bigger everything—product range, human resource, office space, and audience.
But how can you possibly make your business known to a wider range of customers without moving from where you are comfortably sitting? The answer lies in building your own franchise.
Franchising is a business strategy where a franchisor (you, supposedly) allows franchisees to use your trademarks, associated brands, and proprietary information so that they can open and operate a branch. And for franchisors to avail these, he or she will have to pay you a certain amount. You can also undertake the supplication and distribution of goods to your franchisors and have them pay you a supplier fee.
Here is an example of an online business who accepts supplication and distribution: http://www.virginblak.com/wholesale.html
But there are caveats in franchising: while it is a highly effective method to propagate a business, it also entails a lot of learning, spending, and undergoing legal procedures.
For starters, you have to make sure that you have a product bankable enough to attract franchisors. And since you have to demonstrate the whole process to them, you have to devise a clear and comprehensible way of teaching and explaining it. Lastly, you have to ready yourself for the gargantuan task of learning and navigating the legal process that governs franchising.
Maximize Technology and Social MediaIf it weren’t for technology, you won’t even be anywhere near this article. In fact, this won’t even be possible at all. Fortunately, more than the fact that technology is here to stay, it also keeps getting better by the minute. So why not exploit that to your business’ advantage?
As a business owner, part of your job is to make things easier for your staff. When you do, your share of work is going to be easy as well. Start off by using licensed software in the office. Do this for your computer operating systems, accounting, or time-tracking needs. This way, it will be easier to monitor your profits and losses.
And don’t forget to utilize social media to boost your brand’s popularity. Befriend your customers online and give regular updates on your latest products and services. Also, urge them to provide feedback on how you are doing and how you can improve. Customers are likely to patronize you continuously when you make them feel that their opinion matters.
Being a business owner can guarantee you a certain degree of pressure. The main idea is to come up with methods and apply them in a way that follows your vision for your business.
REAL WAYS TO FUND YOUR BUSINESSAre you a small business looking for SME Funding and Support in Ireland? Click below for a complete list of supports.
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