Are you thinking about starting a new business in 2024? Chances are that, if you’ve given it serious thought, you have a pretty good idea what product or service you’ll be selling. Unfortunately, 5% of small businesses in Canada fail within the first year. If you want to buck that trend, it’s important to come up with a good business idea, create a business plan, get funding and educate yourself on all aspects of the business you’ve chosen.
Of course, that’s only the beginning. The next step is to bring in customers and to do that, you need a solid brand and a marketing plan to support it. Imagine you’re a kid selling lemonade. You could put a table by the side of the road, sit there all day and wait for customers to come to you. Maybe you add a sign that says lemonade. But how many more people would stop by if you added balloons, stood at the side of the road and waved customers in, or changed your sign to read “Are you thirsty? Best lemonade in town, just 5 cents!”?
If you want your business to succeed, there are some important things to put into place. Read on for tips on how to start your small business on the right foot.
Choosing The Right Small Business Name Is Key
Picking a name seems easy, right? You’ll just call it “Joe’s”. But how many businesses are called “Joe’s” and how does that give people insight into who you are? How will Joe’s rank on Google search engines? Remember, once you’ve established and registered your business name, you will have to work with it – make it something that people will remember. Then when they recommend it to their friends, it’s easy to find your information online.
Don’t Brand It Alone
Your brand is a way you market your business to the world. It’s how you position yourself as an expert in your field and build an audience of potential customers and clients. A strong brand will make your business more visible and memorable and help you attract opportunities. Your brand is what sets you apart from your competitors. It’s your unique identity and it should be reflected in everything you do – from the way you answer the phone to the design of your website. So make sure you get it right.
Make sure to add room in your financial plan to hire marketing professionals. Developing a logo that will stand apart from the competition and enhance your brand on your website and all your marketing materials is not a job for amateurs. Just choosing a font and writing your business’s name is not going to cut it. Your logo is your signature and, if it doesn’t look professional, customers won’t take you seriously.
A good marketing agency will not only design a logo for you but take it and create a whole brand identity including a website, social media plan, signage and marketing materials. People are very visual and will remember a brand for its look, colours and the feeling it gives them which makes recalling the name that much easier when it comes time to buy. The more places your potential customers see your logo and brand message, the more likely they will be to associate it with your product or service.
Keep Your Business Growing
Now that you’ve launched your business and you have a few regular customers, keep the ball rolling. Take the money you’ve made and reinvest it into your branding. Add a digital advertising plan that will promote your brand through search and social media. Refresh your website and add some extra features that will increase your Google rankings and attract new traffic. That marketing agency you used to launch your business? They can also keep your advertising optimized and your social media current so that you always look good. Hiring them will free up your time to concentrate on other areas of your business.
Loyal Customers Are The Best Customers
Having a few loyal customers is nice but that won’t sustain your business for long, however, those customers can help your business grow. Encourage them to write reviews on your Google business or social media pages that you can share. Ask them to follow your feeds and like and share your posts. Even better, have them post photos when they’re using your product or service that you can use on your social media pages. User generated content gets strong reach on social media sites and leads to new customers for your business.
Change Is Good
When you launched your business, you were happy with what you were offering. But research doesn’t end with the start-up process. You think your product or service is a great idea but collect feedback and fine tune often until you know what your customers want. Is there something else you could offer that would make their experience better? What did they like/not like about their sale or service? What improvements could you make to your website? Email them a follow-up survey or message them for a ranking of your service. Ask them for honesty, it’s better to fix a problem than have it drag your business down. When your customers are happy, you’ll know because making the sale will be easy.
It All Comes Back To You
So you have your foot in the door, your business is starting to thrive and you have customers who return to you regularly. Your marketing partner is making sure your message is on point and your brand is top-of-mind. Now it’s time for you to BE your brand. Think of the big names associated with business – Bill Gates, Jeff Bezos, Elon Musk – they represent their brand every day. Joining community business associations or charitable clubs offers networking opportunities and also a chance to do some social good. Support a local sports club or fund-raising event and get your brand out there in a positive way. People love to back a local business that is a part of the community.
Want help to make your small business succeed? We’re here for you! Book a free consultation by clicking here or call us at 647-250-1494. Let’s make this the start-up you dreamed of.
