Have you ever thought of going to work for yourself? I meet people all the time with dreams of opening their own company. Having your company can be very rewarding, but it can also be equally difficult (and often at the same time). Putting a sign on the door, adding products, and thinking people will come in and shop is setting yourself up for failure. Not setting goals or having a plan to hit your goals is just wishful thinking. If you are starting a new company, you should be able to quickly answer the questions below.
- What does the market look like? What is the competition within a one mile radius? Five mile radius? (If a small town… the entire town!)
- How is my brand unique? How do we differentiate ourselves from the competition?
- Who make up the demographics that would be shopping my store?
- How am I going to market to that specific demographic?
- What is my marketing strategy and budget?
- What promotions am I going to launch to create buzz around the store? Once we establish a customer base, how are we going to create customer retention?
- Who is going to run our social media? What is the content going to be? Should we be doing an editorial calendar? What makes other companies successful on social media?
- What like-minded businesses can we partner with to help grow our customers?
These are just a FEW of the questions that should be answered. Of course, this is not even discussing branding. (Branding isn’t just a logo, colors, and stationary!)
If you are thinking of opening a business and have not answered any of these questions, you may want to consult with an expert. Brand X Consultants has years of experience ensuring businesses have the right PLAN for success. We partner with your company to set up a marketing strategy, how to create promotions, and loyalty programs. We train your staff for proper social media etiquette and how to upsell. Our team will ensure that once you launch you have the tools you need to be successful.
If you are thinking of opening a new business, reach out to Brand X Consultants for a business consultation. We would love to help you start the business of your dreams off in the right direction!