Starting a new business comes with many challenges and unplanned situations; so what’s the right path? How to launch a brand properly? Is there an outline on how to do it right?! In this article, we’ll talk about launching a brand properly.
You won’t find advice, “do this, do that”-s or “read this, read that”-s, you won’t find obvious answers such as, ‘be careful’, ‘spend wisely’, ‘count’, ‘measure’ or such other stuff. And most importantly, you won’t find priceless advice like, ‘be smart’, ‘be good or simply succeed’. We will share pure experience, as throughout our expertise we’ve launched a good many brands, carried out various rebranding projects and created something out of ideas and visions. To make things more comprehensible we’ll structure the article in a way that the bigger picture will be easily visible for any reader.
There are many aspects to consider before, actually, fully jumping in into a new project.
First of all, don’t be surprised, you need money, you need a budget, you need to have enough money to make sure your business can run without positive cash-flow for the first couple of months. Most folks preach that you can start a business without solid cash, but that’s not the case statistics show that 95% of businesses fail due to not having enough budget to survive the competition and gain a solid portion of the market but the time their investment runs out.
Here’s How Budgeting is Done:
Budget distribution is an art, and art that ensures your business won’t be out of business due to budget issues! Now, most people spend their budget equally over months, others start by spending less and plan on increasing the investment as the business grows. Although, in some cases, this might work, getting a portion of the market has its steps and proven strategies.
You start by spending more and as time goes by, as you get referrals, as you create awareness around your brand, you start spending less. First, you spend on your business, then your business spends on you. Just like a car or an airplane does, they spend more resources while launching than they do when they’re on the run… I guess the laws of physics apply to the business world in this case…
Here’s the golden rule of success: The most important tasks and organizational activities must be done by you! That’s right, you have to take responsibility for taking the most important tasks. You indeed have to have smart and skillful people around you, whom you can direct to various tasks of most different kinds, but the most important tasks are to be directly supervised and implemented by you!
Your team members must be informed of your vision, the direction of the business, the expectations, and business goals.
Let your people grow, let them make mistakes, then learn from their mistakes
Your results aren’t in the next door waiting for you to knock the door; you have to look for the right door and open it yourself. Here’s where most start-ups fail at:
For the first issue: when your business is new, you still don’t know which channels will work for you, which way of messaging is more effective and what’s your precise target audience. It’s fine if you don’t get it right from the first try; that’s why you need the above-mentioned budget, you have to try different channels for different messaging long enough, till you get it right.
For the second issue: people rarely buy your product or pay for your services immediately; they have to hear about them from you, see your ads and content for at least 7-8 times before they even consider using your products/services. Thus, for that to happen you need to carry out a ‘chain’ of consistent actions for a long period, you need to be active, working, spending enough money, resources and time until you start making sales. You have to water your seeds for 5 years every day until you can rest under their shadows; seems, nature laws apply here as well.
Most businesses ‘create’ their buyer personas and stop there, the three pillars of successful marketing are:
You ought to know what your customers buying journey is, so you can target them on different stages with different content and call to actions. Otherwise, you’re wasting your time trying to get a positive ROI.
If one thing is for certain, it’s that there are people who have done this for dozens and hundreds of times, as Dr. Dre would say “Been there, done that!” Trusting an agency to take some responsibility off your shoulders and use their experience in your benefit is a smart move. That’s why there are agencies, like ours, out there bringing their skills and experience to the field for you to get results.
Again, far from being cliché, no matter how great your marketing is, whether you use inbound marketing or neuro-marketing methodologies, you have to provide quality products and services. That’s the only way to succeed, if you want to spend less, have the referrals do the advertisement for you, if you want to last in the market! If you wish to grow and go international, you have to, you must bring value to your customers… There’s no way around it, there’s no substitute, your entire marketing & sales actions combined are the same weight, if not less, as your service’s/product’s quality.
Don’t forget to get feedback from your customers about your business and brand so that you can improve it productively and successfully.
Launching a company is not an easy task; in fact, it is even harder than maintaining it, as experience shows, more companies drop out of business in their launching stages than they fail to maintain it after a successful launch. We’re not questioning the toughness of starting a business, nor are we presenting it easily.
If you wish to succeed you need to have enough budget, resources, patience, marketing strategy, and good quality products!
If you’re about to start your business and don’t know where to start and what to start with, you can contact our specialists and they will provide a 30-minute free consultation to put you on the right track. Do not hesitate to book your free consultation, ask us your questions, we’ll get right back to you ASAP.