How To Have Startup Success With Your New Business

Document Sample
How To Have Startup Success With Your New Business Powered By Docstoc
					How To Have Startup Success
  With Your New Business
Your new business startup success will
 depend on several factors But there are
 several things to improve the chances of
 y               p              g
 your new startup business being a
                 y        p   y
Below are 5 ways to improve your
 chances of startup success.
1. Make a Detailed Plan For Startup
This one seems obvious. But many
 people start a home business with no
 real plan much less a detailed plan. You
 must plan for all contingencies if y
       p                 g          you are
 to be successful.
The two major parts of your plan should
 be operations and marketing. Operations
 is the day to day how to of what your
 business is doing.
The marketing is getting customers. To
 have startup success y
             p         you must have
 customers. Most of your time has to be
 spent on marketing.
This includes having a budget set aside
 for just marketing. No marketing equals
 no customers equals no success with
 your business.
2. Find a Mentor To Guide You
Having a mentor will improve your
 chances of success by a factor of 10 at
 least You want to find someone that has
 had new business startup success.
                       that s           it’s
If they in your niche that’s great but it s
 not necessary. You just want to find
 someone that you can trust and you get
 along with.
 A good place to start your search is asking
  your friends locally if they know of anyone.
  Another great place is to search on google
  for a mentor.
 It’s not a requirement that you meet with
  your mentor in person but a lot of people in
  an offline business prefer to meet someone
  they can talk to in person.
 If your business is online most mentoring
  will be done online and by phone. It’s really
  just your preference. This is probably the
       b        h              d f
  number one thing you can do for your
3. Make Sure You Have Competitors
 In Your Market
This may sound backwards but you want
 competition No competitors means there
 is no market for what you selling unless
 it’s something brand new and those
 markets are awful risky.
So don’t be afraid of a little competition.
4. Don’t Put Every Penny You Have
 Into Your New Business
You read about people doing this all the
 time Most of us still have a family to
 worry about. So keep some money
 stashed away for a rainy day as they
            y            y   y        y
Know how long you can go without
 bringing a payday Mouths still have to
 be fed and the mortgage or rent has to
 be paid. If y
     p                   g
             you are single it’s a little
 different but I don’t suggest you put your
 last dime in any kind of business.
That’s a recipe for disaster not startup
5. Advertise Your Business
This is one area you need to have some
 money far. I know some people use
 Guerilla Marketing but that’s a tough way
 to go. I did that many years ago when I
    g                 yy        g
 started my Private Investigator business.
When it come to marketing and
 advertising be everywhere you can until
 you figure out what’s working for you.
What are your competitors that are
 successful doing? No need to reinvent
 the wheel here. Your mentor will be a
 great help to you here.
 Don’t forget to market online as well as
              don t
  offline but don’t get hung up on Facebook. It
  will steal all your time and before you know
  it you have got nothing meaningful done.
 Start-up success is tough for a new
  business. Usually it takes you awhile to gain
  some traction and start bringing customers
 But you need to start making money now. I
  understand that and the tips above will give
  you a better chance of success in your home

Shared By:
Description: Your new business startup success will depend on several factors. But there are several things to improve the chances of your new startup business being a success.