Starting a new business isn’t easy, but there are ways that you can make the initial startup a little more straightforward. You need to have a clear idea of what your business is, and the steps you need to take in order to reach your goals. If you’re about to start a new business, you’ve probably been thinking about it for a long time, and have an idea of what it will take to succeed. The reality is that twenty percent of small businesses fail in their first year, a percentage which increases after five years. You shouldn’t be put off by this figure. Just see it as additional motivation for you to do the groundwork to make your business a success. Carefully planning out your business strategy, and following a plan, will help keep you on track when the going gets tough.
With such a high business failure rate it stands to reason that the businesses that do make it must be doing something right. Normally, successful businesses are the ones that have a clear plan, based on solid market research, and of course it helps if the timing is right. Bringing out a product or service when the market is already saturated will almost certainly end in failure. Make sure that your market research backs your product or service, not least as a way of getting potential investors on-board.
It doesn’t take a genius to tell you just how important sales and marketing are. But many small business owners mistakenly think that this is an area that they can only develop once their business has matured. The fact is, unless a business builds its sales and marketing from the early stages of starting out, it will likely struggle to get itself off the ground.
With sales and marketing a priority, but a budget that is likely overstretched as it is, you will have to find ways to expand your sales and marketing without breaking the bank. Fortunately this is where technology can help you. There are numerous tools and online services that you can use to help with your sales and marketing efforts. Take a look at www.summitadvisorsit.com and see how they can meet your IT solutions needs.
Having long term goals is all well and good, but what will really help you to reach your goals is writing out short-term goals. These short-term goals will help keep you motivated in the long run, and ensure that you stay on track. If you have a big goal in the distant future, but no solid goal to work towards in, say, the next month, then it can be very easy to fall off the wagon. One short-term goal you should certainly prioritize is developing strong sales and marketing.