Top Tips to Launch your New Business into Success
By – GetCoached
Launching a Business is exciting and considering the number of facets a new business has to establish, it’s easy to focus more on one of these facets while ignoring some others. To have a successful launch, it is essential to have a plan for all the different aspects of the business.
Here’s a checklist that summarises all that you need to check off, to confidently launch your business.
My Target Audience is Ready
Creating a customer avatar is crucial as we’ve heard it many times that when you sell to everybody, you are not selling to anybody. So, think of that one person, envision that friend of yours who’s problem your business is going to fix.
Drill down further and ask yourself more questions about that person. Eg- if your business had anything to do with real estate, you’d find out where in the process of house ownership your customer was-
Were they planning on buying their first home, were they planning on buying there rental, or are they all ready to buy. Get to know your customer in depth.
Now that you know them, you can understand their problem. And now that you know their problems you can find out how they are solving their problem.
What do they currently do to solve their problem.
What is painful about the way they are currently solving that problem.
Is your Business addressing this pain point?
Is your Business going to make the way they are solving this problem andy easier, faster, add more joy, happiness, take away ….
Once, you ‘ve found an answer to all of these questions, yes, you can say that your target audience is ready for your product/service.
My Offer is Ready
Because we are so attached to our businesses, what seems obvious to us may not make any sense at all to someone else. Einstein said you have not understood clearly yourself if you cannot explain it to your grandmother. (something on that line, not literally quoting)
So, it’s integral that you are able to explain it to others what you are doing. So practice it. Talk about it- to friends, family and take notes of questions they ask (Great for creating FAQ on your site)
Then refine your message so that you can come up with a clear explanation of what your business does for whom and how before you launch it.
Again, revisit your customer avatar and check if what you’re doing aligns with what your customer needs.
My Branding is Ready
When I was thinking of starting my first business, the word Branding meant just the Business Logo to me. I later learnt that Branding meant a whole lot of other things besides the logo.
Starting from the vision you have for your business, you can connect words, colours, vibe, language to describe, to be the Business.
If your Business was a person, what would she look like? How would she talk, What would her personality be like? How would she make you feel when you approached her?
Describing the business as a person would be a great way to build up to create a Brand.
My Pricing is Ready
Pricing is one of the trickiest aspects of Business!
You price yourself too low and you’d be considered too cheap to be good.
You price yourself too high and you might be out of reach for your customers.
Again, having a clear customer avatar really helps as you’d know how much your ideal customer spends on a similar solution/product like yours. How much will you be spending on your business? Does your prices cover your expenditure?
Also, researching on your customers’ prices to position your pricing is helpful.
Finally, deciding on what payment methods you will be offering; what kind of discounts you’ll be offering- all critical to planning the pricing for the business.
My Marketing is Ready
Thanks to Social Media, marketing has never been easier, but when every other person is marketing something, this space is crowded and building a strategy to stand out amongst this noise is gold.
As much as it gets tempting to be on all social media platforms, it helps to understand which platforms your customers are most active on and targeting those platforms first. Researching on what kind of content is working for similar businesses and building a strategy around what’s working and what you can make uniquely yours.
Where will you run ads? How much revenue will you be investing in them. Which geographical locations will these ads run on.
My Sale Strategy is Ready
Nobody likes to be sold at, so crafting a sales plan and building a sales mindset is key to building a Sale Strategy.
Have you mapped your customer journey? Are you being helpful and of service to your customer throughout this journey? Have you thought of where in this journey you could introduce your product/service for sale? How do you feel about selling and what can you do to be comfortable selling.
Do you have a strategy on retaining customers and having them come back for your service/product repeatedly?
When starting a Business, there’s so much to do and if you wait to have everything perfectly created, you would never launch. The idea of this article is to give you an idea on what you’ll need to cover for launching.
The right thing to do would be to create the launch grand plan but start a soft launch imperfectly and build to the plan as you go before the big full fledged launch.
Our Business Coaches can support you and hold you accountable to have all of these factors in place so you not just launch successfully, but continue to operate successfully too.