So you’ve decided to invest in yourself and build your own small business! Starting a new business is an exciting venture, but it’s also one that can be stressful. Luckily, there are some definite things you can do to ensure your business is a success. Read below for six steps that can help your small business startup be successful.
Create a Business Plan
Small businesses are built every day, but for as many that are successful, there are just as many that have failed. Most often, they are due to poor planning and a lack of organizational skills on the part of the business owner. In fact, most small businesses that fail in Denver, do so due to poor management. You can prevent this from happening by making sure you have a strong business plan from the get-go, such as a checklist of the many things that need to be done in order to get your business off the ground, day-to-day operations, and how you’ll keep track of your expenses. Creating a sound business plan can keep you organized.
Invest in Marketing
Businesses are built on how much exposure they get to their intended audience, and this can be done through word of mouth, social media campaigns, and ads in newspapers, outdoor billboards, and other traditional mediums. In fact, 37% of customers report looking at an outdoor ad almost every time they see one. This translates into exposure for your business, which ultimately means more people visiting your startup.
Make Your Business Look Professional
It’s important that your small business looks successful in order for it to be successful. Appearances very much matter when it comes to attracting and keeping customers. Not only does this mean that care needs to be taken when it comes to the design and aesthetic of your business building, but it’s also in the smaller details, like your business’s social media presence, website, and ability to network.
Learn to Network
When it comes to professionalism, networking with other business professionals is a must, and one important but often overlooked detail is professional business cards. Not only do they promote your business’s appearance of being successful, but they also double as a marketing device. Unsurprisingly, business has shown to increase 2.5% more when a business owner hands out at least 2,000 business cards.
Protect Your Business
Your small business startup is akin to having a child, and like a parent protects their child, you should be prepared for calamities of all kinds, big or small, when it comes to protecting your business. Many small businesses fail due to being unprepared. Unfortunately, 75% of U.S. businesses are underinsured, and a whopping 40% of small business owners report having no insurance at all. Any kind of unplanned event, whether it’s weather, economy, or personal matters, can affect your business negatively. Being insured can help protect your assets in case something happens.
All the things mentioned above are important to the survival of your small business startup, but most importantly, you have to believe in yourself and your business in order for it to stick around. Investing in your dreams is a worthwhile, but risky endeavor. However, by creating a solid business plan, investing in marketing, creating a professional brand, learning to network, and believing in your business, you can be sure that your startup will not only survive but thrive!