We’re in a brave new world, where launching a startup business is easier than ever. But before you head to the bank to fill out your application for a business loan, you should look into some first steps. Take a look at our guide to the first steps to launching a business in Brighton.
Read up on the data of marketing
Speaking of marketing, we bet that’s the part you think you’ve got handled. Social media marketing is so effective and so easy that anyone can – and does – do it. You’ve been advertised to your entire life. You’ve got this.
Maybe you do. Making content can be fun, and easy, but so many small business owners forget the other end of online marketing: the data. Without the technical element of online marketing, you might as well be shouting into a packed stadium without a mic. That video of your team is very endearing, but without the SEO element, no one will see it. Finding an SEO agency in Brighton & Hove – experts right on your doorstep – will be an effective solution for you too. They will know the kinds of things you need to initiate early change and sustainably progress.
Understand your customers/clients too well
It’s very important that you have a complete profile of who you intend to serve with your business. The important elements of who your customers are vary from industry to industry, so give yourself a complete picture for a first step. It’s something lenders and investors will want to know: if there is a market for your business.
Don’t just slap your business plan with “B2B” and call it a day. What businesses are you aiming for? Are you supplying farmers or Wall Street types? These two people are met with very different problems that need solving, potentially by your business, and yet they’re both B2B ventures.
Create a profile for your target customers. What is their lifestyle like? Nuclear family or Single Income with No Kids? College or nearing retirement? Penniless or Beverly Hills resident? What are their priorities? Do they care about the planet? Or feminism? All of this will not only inform your business, your products and your services, but it will inform where you take your marketing.
Write a business plan
Your business plan is the holy grail of the future of your potential business. It should outline the goals, finances, direction, team and future plans for your business. It should also, however, be airtight. Don’t take the idea of “outline” to mean “vague”. Investors and lenders will laugh you out of their office if you don’t answer the basic questions they have to assess if there is any merit in this business venture you intend to travel on.
There are seven things a business plan needs to be complete: an executive summary, a company description, market analysis and opportunity, competitive analysis, an execution plan, a marketing plan, and financial history and projections. Not only will this become the bible for your lenders and investors to decide if they have any faith in your business, but you can use it to solidify your idea of a business that can work and refer back to it if you find yourself at a fork in the road.
