Inspiration has struck you and you have settled on a business idea but how exactly do you turn your dreams into a reality?
Although taking the initial steps towards launching a new company might seem difficult keeping strategies in mind will help you to smooth the transition from developing a creative vision you are passionate about to building a future business. How do I know? Because I’ve done it myself. Here are my top tips to ensuring your idea scribbled on the back of a napkin come to fruition and you take on the role as CEO.
Build Positive Relationships and Reach Out When Necessary
You can’t do it alone trust me, you will need to develop strong and positive relationships with your clients, investors or contractors. All businesses are built on reputation and you can’t be afraid to seek advice from other people within your field. Some people won’t be so forthcoming with the information you may need so chose your allies carefully.
Find The Why
Being an entrepreneur can be one of the toughest jobs you will ever have; expect sleepless nights, a roller-coaster of emotions and financial outlay. Whether you are driven by creative growth or financial gain is irrelevant, the important thing is that you are passionate about the business you are about to create. Trust me when I tell you it is the only thing that will keep you going during challenging periods. As Steve Jobs once said “People with passion can change the world” this can 100% be you, you just have to find what you love and channel that into your new business.
Let The Companies You Admire and Respect Inspire You
Though it is integral that you differentiate your brand and your company from anything else like it in the market it is also OK to pull the elements of brands and companies you respect into your own brand and branding. Give it your own flavour, know and research your target market and then slowly build a community of loyal followers who love your product or service as much as you do.
Express Your Brand
But first… You will need a name and you will need to buy the domain. Make sure the name accurately reflects your business and what you are trying to achieve, then focus on expressing your brand. It’s not about your logo as much as it’s about translating your “why” to your consumer or client. Expressing your brand can be anything from brand positioning to fonts to tone of voice. If you don’t come from a branding background this can be a very tricky job to master, so reach out to your peers or anyone else you may know who can help you to nail this first time around.
We’re Going Viral
Once all the planning and development is out of the way it’s time to launch your new band to the world. Developing a successful PR strategy and social media strategy is fundamental in taking your business to the next level. Define your key audiences and target market, if you do everything correctly your key message will be placed directly in front of the right people.
Create a Website and Mailing List
It’s pretty easy to make your own website these days thanks to drag and drop template sites like Squarespace
, of course you can pay someone to do it but making it yourself will ensure that you know how to run it because you will need to update it and change it as your business evolves, you will also need to troubleshoot issues that arrive as your website starts to get traffic. Trust me, if I can do it, you can too!
Legalise Your Business and Set Up a Business Bank Account
You will need to register your business with ASIC
and start a business account so you can start earing all the money.
Never Stop Growing and Learning
You will have to continually innovate and adapt to new market demands and trends. Your website will need to be continually updated, your packaging will change, the way you deal with customer emails will be changed and refined many times, and that is all good! You will learn as you go as to what works and what doesn’t, what needs to be tweaked and what should be left alone. Just don’t stand still or you will get left behind, nothing in business is constant but change.