Setting up a business is easier said than done. This Survey from SmallBizTrends shows that 44% of companies started in 2014 did not make it past the fourth year. And 42% of respondents indicated that the business failure was due to lack of market in their establishment. But that should not scare you.
When people think about starting a new business, they need to fulfill various steps to ensure that their ventures see the success they dream of. These stages range widely from legal processes, finance (capital, insurance, etc.), and marketing.
Many people also want to do business, but they have no idea what to invest in. We are going to help you understand how to launch your business and ensure that it grows in a sea of many competitors. Regardless of your venture, there is room for growth even when your competitors have already taken root in the industry.
In this post, we describe the various ways we can help your business launch and stabilize. All small businesses and startups need a strong team that focuses on developing the industry – from the image to customer and sales services.
Any new business requires that you spend all your time on it. You may need more time than your ordinary workdays. Give it all your energy and resources to see any desirable results. In essence, it is hard to grow a business fast while working for another company.
That is why you should ensure that you get the guidelines and services of professionals so that your venture can pick and you remain independent. Since you are already reading this post, we are convinced that you have decided to launch your business and you want the information, tips, and guidelines on how to do it right.
But before we can help you grow your business, you need to decide and get things in order. You will not want your business to go stagnant after a few months of launching.
Things to Do When Starting a Business
Everyone has personal ideas when launching businesses. But, all companies need the same fundamentals. That is the initial stage where you work your mind out to exhaust all possibilities and choose the best option and action plan.
Are you still puzzled at what you need to find accurate answers? You can find solutions here and work on the things that lead to a business establishment.
1. Research Your Idea
Some ideas give you the potential to launch highly profitable businesses when you meet all the factors that can help it grow. But before you start it, do your research on the idea. Adding real-life stats to your plans will ensure that you do what will work.
You may want to do the research alone or hire experts to find you relevant information that will help you in making decisions. You need market data and trends to predict the future of your ventures.
Here are some questions to ask yourself when conducting your research.
- Are your anticipated products or services a necessity in the community?
- Who is your target market, and how do they perform in your area of interest? What do they need in the industry? And what triggers their interest? In simplicity, understand your prospects.
- How does your competition perform in the field? What strategy do they use to thrive? Understanding your game helps you to position yourself in the area.
- How will your idea fit into the industry or community? Do you offer any exceptional products? What plans will you use to solve the customers’ needs and overcome the challenges?
2. Create a Business Plan
Drawing a business plan is an essential step when you have finished your research. With a business plan, you will have a clear roadmap on what you intend to do when launching the business, the steps to take, and your objectives in ensuring that the business grows.
Each type of business has a unique business plan. There is no generic format or roadmap to follow when setting up your business. And you should not ignore the step because it helps you to fund your business and keep the spirit when you are on the initial stages.
In case you are thinking of getting a loan or grant to start your business, a business plan is vital, and you should treat it with ultimate care to make it the best. The details you provide will determine whether or not you will get the funding you are seeking from any institution.
But for self-sponsored businesses, you can create a simple plan that will guide you through. There will be no reason to explain every single point in your plan when you do everything for yourself. Highlight the mandatory milestones and points to help you establish a consistent growth.
3. Set Your Financial Position Right
Depending on the type of business you want to start, you may not need lots of cash for setting up. But you do need to service the business until it gets to the point where it can generate income and support itself.
Having financial plans will help you to source for funds that you need for various expenses that will come your way. You need to pay for the office or storefront, electricity bills, and insurance remittance. They will help you in marketing, more of which we have covered in the next section.
4. Identify the Right Structure for Your Business
What is the model of business you want to run – as an entity? You can register your business as a sole proprietorship, a corporation, an LLC (Limited Liability Company), or as a partnership. The choice is yours.
One thing to remember, though, is that the business structure you choose dictate your liability, tax returns, and the business name you want to register. It is, however, possible to change the structure later on. Why not start with a simple one and update it once the business grows? You can involve an attorney to help you determine your best choice.
How We Can Help You Launch Your Business
When thinking of business growth, think JUST Creative. JUST Creative has many ways of growing new business to become a global brand that can withstand and overcome the forces of the competitors in any given field.
Our services are essential for establishing your brand so that you can take care of your family needs and achieve other goals through the success of your business.
Here are the services we offer that are essential for the growth of your business.
1. Brand Strategy + Brand Design
As a new business, the first step you need to take for your business is to ensure that your target market can identify you. Your image creates an impact on your customers’ minds and sets you apart from the crowd. Setting up long-term goals for your business will help you to target the right market and present yourself ideally for growth.
Brand design is not only about creating logos for your company. It involves everything that you need to create your business image, and thus you will need a brand strategy. As business branding experts, JUST Creative will help you opt for the right brand naming based on strategy. With the right naming, you will get a marketable yet unique name for your business. With this, you will stand out when people think of the products you sell.
Businesses also need taglines. We can call them slogans, but they matter in the success of your business. The taglines tell your customers or audience the mission of your business. You, therefore, need experts to help you come up with the right tagline that addresses customer needs to capture their attention.
Other services include style guides and logo design. A unique presentation of your brand is essential to stick to your customers’ minds. We help you with ideas and approaches to come up with simple yet effective logos for identity establishment.
2. Brand Identity Design
Having established your brand identity, you need to maintain it and grow it for better cohesive relationships. Consistency in your brand presentations is mandatory for any business to maintain trust with their client base.
Our objective is to help your business grow with professional branding. We do a rigorous analysis of your brand, market, and business industry to establish an ideal presentation of your business in the marketing world. With style guides, we help you to maintain your business identity and voice.
With copywriting and print design, we help you to present your business effectively to the prospects in a professional manner. We also help you to grow your business through social media presence. With our social media graphics design, your brand will create an impact on the online communities.
3. Web (UI and UX) Design
Whatever business you are running, user experience is going to help your customers to interact with your business any time from anywhere. We develop and design websites that will help your business outperform your competitors in your industry.
We also do SEO to ensure that your business information reaches as many people as possible to minimize the marketing budget at later stages. With the help of a link building agency, you can get authority websites to link to your brand and create customer trust for growing the business.
4. Print Design
Print media is mandatory when you want to market your business offline. Together with your digital marketing efforts, print marketing will help you grow your brand faster.
We design and create all types of print media you need for marketing your business. We integrate your brand identity on your print material to ensure that your documents retain the consistency of your image.
Whether you need posters, flyers, business cards, or brochures, you can get them from JUST Creative. As an idea, you could customize your business card slot in a folder presentation and when the client sees it, they will feel more convinced about your product, and it creates a good impression.
We also design book covers, letterheads, cover arts, and packaging material to showcase your brand authority.
What You Need for Smooth Business Establishment
Nobody wants to start a business and later discover that they are not going to grow. Even after you choose your business industry accurately and lay down your strategy, you still need to follow some necessary steps to make your establishment hassle-free.
Here are three mandatory things to decide on before you can begin any business.
1. The Right Location
Businesses do well only when you pick the position strategically. Some businesses can offer or deliver worldwide but you will want to pick a place for your office or headquarters. But for local businesses, locating your store is as important as finding your ideal customers.
When choosing your business location, you should consider the possibility of exhausting the market, availability of labor (in case you need to get staff to assist you), and the cost of setting up. Another reason for choosing your business location early enough is to facilitate your branding and marketing to target the right audience.
2. A Distinguishing Business Name
Various factors can dictate your business name ideas. But you only want to make primary considerations. Having a few choices is ideal so that you do not remain stranded when you realize that your best name choice may not work in your favour. At JUST Creative, we will help you pick the perfect brand name for your establishment.
3. Business Insurance
Nobody knows when calamity befalls. Ensuring your business can help you recover the losses in case of an emergency. But again, insurance is not a savings or investment you will want to rely upon. After all, who plans or knows when the calamity will strike?
In case you want to secure your business, do some research and identify a company that can compensate when the need arises you even if you are a new member. Many insurance companies have policies that dictate that only members who have been contributing for a certain period can receive compensation for their losses.
Why Work with Us
Having set aside the funds for launching your business, you need to involve professionals who understand business policy and strategy that enhance successful growth. At JUST Creative, we endeavour in ensuring customer satisfaction in all that we do.
With our professional experience, we can set your brand ahead of your competitors. In everything we do, we have your ideas and goals in mind. Your input and our experience are what drives the success of our branding business. Our success solely depends on the success of your brand, so we are after results.
At JUST Creative, we treat our clients with due diligence. Regardless of the size of your project, you are welcome!
For many years of our experience, we have worked for various brands in designing their products, logos, websites, among other services. Some of our few select clients include Coca-Cola, Nintendo, Disney and Red Bull, among hundreds more.
For complete information on our experience, read our About page. Our Services page also has more details on what we can do to help your business grow. You can as well get inspiration by checking out our portfolio.
Setting up a business can be a daunting experience only when you are trying to achieve goals without strategic plans. But once you adequately plan, success is a guarantee. Your establishment will not depend on how many competitors you have, but how you are determined to stand out from the crowd.
When creating your business budget, branding and marketing should come in the initial stages of your launch. Only then can you realize your goals and win the hearts of your customers.