Friday, 19 September 2014

5 Keys to Profitable Start-up

Quite often starting something new we are so much into the idea that we forget about several practical things very much needed to help this idea grow into profitable business. Just pay attention to these 5 key things that will help you to succeed.

KEY 1 Create an attractive offer
.. and say it and put it into word worm in all materials of your website. This is somethjing that is not describing your product but answering the main question of your potential customer "What do I need it for?"

KEY 2 Tell about this offer correctly and properly
Your need marketing and PR. If the product is new, try to be more creative than just use of context advertising and SEO. Find the place where your target customer is and appear there! Use smart marketing approach.

KEY 3 Think about your company image and how to become known
Be ready not to be super popular or well know but just ready then after your customers will come to know about your product/service then will potentially want to know about your company and who you are. Prepare your story.
Write about your company on website, prepare a couple of articles on forums and blogs, maybe newspapers? Depending on your ambitions, of course!

KEY 4 Good reputation
In case your product is super new or your customer will risk a bit buying it, make sure before your launch to prepare a very positive informational background in social networks. Use hidden adverts and keep it mind it take from 3 to 6 months to create this background.

KEY 5 Efficient sales structure
This of this far in advance. This is a very important part to know how you will sell? what you will sell? who you will sell? how you keep track? so..

  • think of scripts and your sales qualifications. train them well to qualify, sell and retain your customers
  • use suitable CRM and always analyse the results to see which way to go
  • use variable sales materials like website, brochures, e-books, landing pages, blogs, videos etc. and target with them appropriate audience in the right time
  • spread the workload between different sales people and never let same people do full sales cycle. this may cause potential problem in the future.
WHY won't those 5 elements work still?
5 elements are just 5 separate elements. That's not a system. They will become THE system working for your ONLY in case they will be properly organised and will serve one main idea.
Create one development strategy taking into account:

  • market conditions on consumption/potential consumption abilities
  • competitors (do SWOT) full research and make sure you cover their weakness with your strengths
  • your target audience -> know EVERYTHING about them and they will buy your product/service!
  • pricing should be right price for right value.
Now do the maths:
5 keys+development strategy=successful start-up

Best of luck!

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