The decision to start a business is one of the best decisions anyone can ever make. Having a franchise of your own is one of life's greatest pleasures especially when you think of all the flexibility and independence that comes with it. This is not to say that doing so is easy.
The start of a business is where many business owners or owners of failed startups get it wrong. Starting a business requires a lot of planning and careful execution of plans. We know how difficult it can be and for that reason, we have put together a step-by-step guide on how to start and ensure the growth of your business.
How to start a business.
With the assumption that you already have a business, you would like to start in mind, follow the steps mentioned below to actualize your goals. If you are still having doubts about the business you have chosen, careful consideration of these tips would help you decide what business to start. https ://smartsmssolutions.com/blog/118-sms-marketing/small-business/1534-how-to-know-what-business-to-start
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Draft a business plan and prepare a feasibility report: Be sure to keep your current realities concerning funding and other limitations in mind while preparing both documents. This would make following the business plan seamless. Ensure you carry out proper research before rounding off your feasibility report. Here's how you can make your business plan solid. https://smartsmssolutions.com/blog/122-sms-marketing/sales-and-marketing/1524-how-to-write-an-effective-business-plan
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Once the business plan is finalized and the feasibility report gives a go ahead, you should get your startup capital on standby
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Begin to source and secure a perfect location. At this point, you should already have a business name.
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As you go about searching for a location, you should also start seeking local operation permits or licences.
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Now that you have a location, stock up on items or office furnishings as the case may be.
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You are almost ready to go, you just need to hire the right employee. What roles are vital to getting you off to a great start? https://smartsmssolutions.com/blog/122-sms-marketing/sales-and-marketing/1621-5-roles-you-need-to-recruit-for-your-business-to-skyrocket-sales
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Open social media pages for your business. You must create electronic flyers and ads that can be put on these platforms. You also need to create a website and run ads before you officially open. This way, you're building curiosity in your potential clients, they would be in anticipation of your opening and that would propel you off to a great start. Do not underestimate the power of social media in your business. https://marketinginsidergroup.com/content-marketing/why-social-media-is-important-for-business-marketing/
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One more thing to do is to open a bank account strictly for your business. So right from the start, you can separate your other finances from that of the business.
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If possible, have an opening ceremony and invite your target customers. This would help them get to know you even before they patronize your business and build some level of trust in your brand.
Growing your business.
Growth is a gradual process. It is sometimes rapid, but slow and steady works fine too. Never expect overnight growth as it seldom happens. But you can do the following to ensure that you're on the growth path.
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Treat your existing customers like royalty. They would spread the word about your brand for you. Where possible, give bonuses for referrals.
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Be open to criticism and improve right away.
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Be ready to adapt. The expectations drafted in your business plan might turn out to be impossible given your current reality, find ways to adapt rather than sticking to a plan that isn't practical or yielding positive results.
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Be consistent. Even when it looks gloomy, continue to do your thing. Your would-be clients are simply taking their time
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Deliver quality products and services. People would always demand value for their money. The importance of giving them value cannot be overemphasized. If your products or services fall short of required standards or clients' expectations, you begin to lose customers and what trust they have built in your brand.
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Communicate with your customers. Ask for feedback from them always. As a new business, use bulk SMS services to keep your business in the minds of your few clients and potential clients. Send them text messages at regular intervals. This is easy with SmartSMSSolutions.
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Build trust with your customers. This is vital to growing your business
The goal is to start and keep your business running. One thing that is key to the fulfilment of this goal is to never rush the process or skip stages. Each of the stages highlighted must have its turn. Rushing or skipping the stages almost always backfires badly.
There are times when you might get discouraged, or feel like quitting, what can help you? Keep a journal from the start. Record every milestone and seemingly minor achievement, on your gloomy days, reflecting on how far you have come can give you the spark you need to keep pushing.
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