The old saying ‘patience is a virtue’ is true in a number of situations. Letting a good bottle of wine to mature before popping the cork, or for your start-up venture transform into a lucrative enterprise are both worth waiting for.
Growing a business from grassroots is a long process. It requires dedication along with the ability to wait for your hard work to pay off. There really isn’t a fast path to success, if stability and longevity are also important.
That said, there are a few things you could do to put you in a good position to overcome any stumbling blocks you might encounter along the way.
Capture your data and use it wisely
A solid base of loyal customers and likely prospects are essential to the growth of any business, but particularly for a start-up.
Now is the time to start building up a database of contacts and customers who you can reach out to. Maintain the relationship with tools such email marketing, social media, print, experiential marketing and events. Keep your audience engaged with regular touch-point communications, and customer service par excellence.
Always be careful to comply with GDPR rules!
Work on a unique marketing strategy
It is increasingly difficult to be heard in a marketplace which is saturated with people doing the same thing.
A well-planned marketing campaign is the perfect way to express your brand values, and really take ownership of your niche. Planning how you will do this is key.
Make sure your online (digital) and offline marketing strategies are in sync to ensure brand consistency and clarity for the customer. Do this by setting out clear brand guidelines around things like colour and tone of voice. Make sure everyone sticks to them, no matter what the medium of marketing.
Always know your figures
If any one obstacle has the ability to take down a young business like Miley Cyrus on a wrecking ball, it’s not knowing your figures. The easiest way to stay in the good books is having good books.
Meeting deadlines, regular reports, and meticulous bookkeeping are all essential tools to have in your finance management locker.
As the brains behind a start-up venture or small business, you may find that allocating time and energy to this is problematic. If so, we would always recommend speaking to a professional who will be able to offer support and advice.