Starting your own company is really exciting for multiple reasons. Entrepreneurship is one of the most nerve wracking career paths that is filled with potholes and plot twits. It gets the adrenaline pumping and the creative juices flowing.
After successfully launching a company, one of the major challenges entrepreneurs face is capturing those first customers. No matter how great your startup idea or product or service is, if you are not a great salesperson, you will not have customers to grow a sustainable business. The following tactics may help you get those initial customers.
Start at home
When looking for your first customers, search for people closer to home. Ask your family, friends and other professional connections in your network to climb on board as your customers. Make use of every relationship you have built to date and ask them to introduce you to other potential customers.
Reach out Online
Reach out to people online who are experiencing the problem you are trying to solve. With numerous groups and pages dedicated to startups and the easy of posting advertisements online, it is easy to reach your first customers through these sites.
Before conquering the world, conquer your town, city and state. Seek out local stores and other businesses to either sell your products or help you sell your products. Local stores and small businesses can also be good customers.
Cab aggregators Ola and Uber maximized their number of users through referrals. Referral codes coupled with discounts are the easiest means to bring in new customers. Referrals also add credibility to a business as the person referring the product or the service is generally a friend or a family member.
Market your success
Use customer testimonials to market your success. Customer testimonials are organic, unsolicited endorsements and the purest form of marketing. Customer feedback adds credibility to your product and helps in improving the public image of the company.
Acquiring new customers is the first milestone any company crosses. Even if a firm has millions of customers, the first few will always remain special. While these strategies may seem difficult initially, they will take your company from zero to 100 customers at least.
Why Is Competitive Advantage Important For Your Start up?
The very first thing a start up does before flourishing in the marketplace is, develop a market plan! The market plan comprises of many factors, however, the most important is competitive advantage. So, what is a competitive advantage? It is basically anything that sets your business apart from another. Any firm requires a competitive advantage to make its presence felt in the business marketplace. Only then, can you differentiate your start up from other existing firms!
The significance of competitive advantage!
The start up world has been evolving with each passing day! The competition is getting intense like never before. So, how do you create superiority when compared to your rivals in the business market? Develop a brand recognition that a company either delivers quality products at a lower cost than the competitors or, offers various services at a greater value when compared to the competitors! Ensure that your products or services are better and best in terms of quality! This could create popularity among the consumers and they would spread a word which in turns makes your brand recognizable. Consumers could recognize your brand easily and prefer choosing you over others! When you establish an effective brand name, customer base becomes extremely powerful resulting, in customer loyalty. Isn’t that pretty much any firm would love to have? Having your customer come back to you over and over! Apart from this, when you establish an effective competitive advantage, you could develop the reputation of offering the best service or support in the industry which allows your company to charge more for your offering! This makes your investments in the firm all worth it, right?
Listed below are the parameters that you should consider while developing a competitive advantage for your start up!
- Quality of the product/service
For example, the famous fast food chain McDonald’s competitive advantage relies on a cost leadership strategy! Likewise, the technology giant Apple, is quite famous for its innovative products! This is how you differentiate your company from others! You discover and develop a unique strategy for your firm! However, at the end of the day, it is exceptionally important to keep a track of your firm’s growth in the marketplace! Find out what is working and what is not! With time, if something doesn’t click then work on it along with your marketing team and implement the change!
So, if you develop a great competitive advantage in the market, you could survive in the long run and become a market leader! A competitive advantage could make you or break you! In today’s competitive world, standing out from the crowd is essential! The best strategy for your company is to focus on improving the quality of your product or service so that it is universally recognized as being superior to anything else available! So, choose the path wisely in order to create a better competitive advantage for your start up!
Time Management Tips For Marketers
As a marketing manager, you perform numerous duties and have many responsibilities in a single day. Managing time effectively plays a crucial role in shaping your days and weeks as a whole. Time is money and money is something that can’t be ignored.
We only get 24 hours a day. So, maximizing every second is crucial especially for entrepreneurs who are busy scaling growth for their businesses. You may not realize how much time is consumed while setting up meetings, calling up the customers and keeping a track of them back and forth.
Here’s a list of some fantastic tips about how to prioritize things and then schedule them into your day!
Begin With Goal Setting!
The first and the foremost step to start off with is to set a proper goal. To increase sales for instance, find out where your customers and prospects are and how your business can benefit.
Set a goal regarding when and what needs to be done accordingly. Then define these goals in terms of the activities necessary to achieve within a time limit. Begin with calling your prospects, but be very careful whether that time suits your schedule or theirs?. If you’re not calling potential customers when it’s convenient for them, you’re not effectively managing your day!
So, set clear sales and income goals in order to reach your daily required targets!
Do Not Multi Task!
There are so many misconceptions people have regarding the ability to be able to do multiple things at one time. Go hour by hour with your tasks!
Start with your most important task. This will give you a visual picture of your upcoming day and allow you to get back on track.You could also choose an online tool based on where most of your customers and prospects are. This way reaching your daily marketing targets get easier and faster!
Just work on one task at a time, cross it off your list, and then move onto the next task.
Prioritize your activities and focus on one thing at a time to maximize your productivity.
When you lose your focus at work, it can take you twice as long to back into the path. So, you need to make sure you avoid distractions. We often leave our email and social media profiles open all day, checking them multiple times per hour. This disrupts our train of thought, leading to even more time lost while we get back on track. While dealing with your customers and prospects one thing you could do is shut down irrelevant apps on your phone and computer!
Begin to pay attention when you find yourself most distracted.
If you are a marketer, 100% of your sales and targets are generated by the number of minutes you spend concentrating on them! The 80/20 Rule helps you allocate your time effortlessly and effectively.
Here’s how this rule works!
Everyday, you have different tasks that needs to be completed and each of these hold different level of significance. All you have to do is segregate your tasks in two basic categories.
The first category lists all significant tasks which require strategic thinking and the approach to move your project forward.
The second category contains the tasks and activities that just have to be done. Now the first category is your 20% and second is the 80%. You should make sure you invest more time in the 20% category and not in the latter. So, moving ahead with your tasks you need to ask yourself whether the task falls under 20% category or the 80% category! This rule is pretty well known among the managers as it helps you to prioritize and implement the necessary from the chaff, accordingly!
Do you struggle with time management in trying to set things right in business? These tips may not add hours to your days but they can help you make the most of the time you’ve got! For more tips and hacks to manage your time better, visit – ClickTime
How To Create An Outstanding Company Culture For Your Startup
Company culture is the collective behaviour of all the team members. Having a good company culture is quite important to keep up with the momentum of the work. It is all about supporting people who share the same mission and values with regard to the company. Why is it necessary to have a set company culture? Because a work place culture can make or break your company!
Startups often face challenges in building a culture that is in sync with the company’s codes, rules and ethics. A culture should be designed in such a way that it leads the company to its stated end goals. A productive culture should be attained in the very beginning itself. This way when the company grows, it would be easier to follow through with the same culture and values.
The key to a good office culture is to set a firm chain of command and control of tasks. Apart from that, it is important to establish clear, honest and open communication. Knowing how to share opinions, challenges, discussions and mutually agreeing to a solution is essential. If at all there are any differences then you must be able to resolve the issue. As your company grows it becomes even more important to create the right culture as it could directly have an impact on the productivity of the individuals. Lack of employee motivation could also developed due to poor startup culture. So, create a fruitful culture that not only promotes good sportsmanship in business, but also keeps the team motivated to complete their tasks. Also, treating all the employees equally helps in keeping up with the culture of the startup. If you treat your workers right, you’ll figure out how to prevent them from going to other companies. If the employees are happy, they are not looking for other jobs!
Here’s how you can create an outstanding company culture,
- Define the company’s ethical values and codes
- Hire smart employees
- Communicate more clearly
- Treat employees equally
At last you should be constantly reviewing your company’s culture. Culture may vary from company to company so, concentrate more toward creating an effective and a healthy culture from the very beginning!
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