What A Small Business Absolutely Needs To Take Care Of Before Launching
The process of starting a small business is stressful yet exciting with all of the new possibilities it opens up for a founder professionally. The tough part of starting a small business is that many new entrepreneurs have never relied solely on themselves for their income. Taking care of the manageable details before launching needs to be done as hoping for the best is a recipe for disaster as you should plan for the worst and hope for the best. There are going to be certain things out of the control of a founder which should not be harped on. The following are what a small business needs to take care of before they even launch officially.
Funding
Starting a business does not take the capital that it once did if it is an online based company. Funding is incredibly important as the right amount of funding can allow a small business to grow in a healthy way without worrying about cash flow being an issue. Lee Jacobs of AngelList points out that there are immense differences between a generalist investor and a specialized investor. Understanding the difference can allow a small business to align themselves with an investor that can help them the most. Being able to leverage the relationships an investor already has can help a business grow incredibly rapidly. One thing that needs to be done when pitching to potential investors is to ask them questions about how they will be involved. You might find that one investor wants to be hands off while another wants to be at the office daily. This is where you need to make a choice of what type investor will fit your business model the best.
Company Website Has To Be On Point
The first impression that a majority of customers are going to have of a small business is that of the company website. A poorly done website can lead these people to think the company is not one they want to work with. A company that cannot even manage to create a quality website is not one that many customers will trust to provide a high quality service or product. The website should be created with goals in mind as some websites like that of a dentist are primarily there to set appointments and provide contact information. Loading times on the homepage are also important as this can impact a website’s ranking on search engines. Slow loading times can also be a nightmare for those on a slow internet connection which can alienate a large demographic of potential customers.
Ecommerce Businesses Should Get Pro Copywriters
The world of ecommerce can be extremely profitable if you find your niche. The global nature of ecommerce can allow a company to sell their products all over the world. Hiring freelancers or in-house copywriters needs to be done as the product copy can make or break a sale. A product description that has errors can make a newly launched business look like a scam or an attempt to steal payment information. Legitimizing an ecommerce business is the first battle as people are very wary when working with new websites. This is due to even some of the largest brands being hacked like that of Target and Home Depot. Website navigation for an ecommerce based business is also important as a business does not want to lose a sure sale because a customer is frustrated they cannot find what they are looking for.
5 And 10 Year Goals
Goals for the business need to be set as this can play a huge role in decisions being made. Falling into the trap of making decisions for short term profit is far easier without future goals being established. These goals can always be modified if they are achieved or simply were not realistic enough to be attained. A strategy of growth needs to also be established as well as you need to make sure processes are scalable before truly growing the business in an efficient manner.
Finding Influencers To Help Them Market
Partnering with the right influencer can allow a small business to create a stir in your niche. This can be done to help a small business gain recognition in more competitive fields. Picking medium size influencers is far more affordable for a small business and can help maximize ROI. These influencers often times create a sense of community among their followers leading the followers to trust their product recommendations.
Launching a small business should only be done after handling the above details. Do not launch early simply because you are excited as this can lead to the business earning a poor reputation which can take years to shed. Set your business up for success by handling what you can control and watch the profit pour in!
