HOW TO MARKET YOUR NEW BUSINESS VENTURE

Marketing your new business in today's competitive economy is certainty difficult. However, there are steps you can follow to make sure that your new business gets a fighting chance to succeed. Before you start your new business, make sure you have a firm hold of these two key tips. First, make sure you understand your marketing goals and secondly, your major aim should be to get results.

•            Examine Your Approach in Small Segment

It is advisable to take a smaller segment of your target customer and test it within your market to measure the response of your potential customers. Break up your approaches into different segment and let the market decide which approach is valuable and profitable.

•  Identify Your Target Customer

Since you know the best approach to start your business, the next steps is to identify your customer; instead of trying to attract many customer, focus on potential customer that will help you achieve your goals.

•     Participate in Community Service

Market your new business through community service by sponsoring local events. Participation in community service is a great way to bootstrap your new business. Getting pictured in your local news is an outstanding method to gain some brand awareness for your new business.

• Create Good Partnerships

Relating yourself with existing brand will help your new business gain credibility. Select business that you are passionate about, especially one that has complementary services so that you can refer business to each other and gain more awareness. 

•  Develop Branded Content

Branded content is an excellence way to align your new business with themes that are relevant to your industry, if you have some intelligent content include it in your dialogue and this will immediately establish your business as an expert. Branded content might be more of a long-term approach, but developing branded content is an extraordinary way to market your new business.

6.     Use the Social Media

You can save money by moving more of your offline marketing efforts online. One of the best tactics for marketing your business is using social media. You want to make sure that you are getting recognition online, post interesting and shareable information. The content you offer most have value, since it’s crucial to know your audience so you can give them information that helpful and interesting.

• Promotional Gift

Getting the recognition from a local business promotional gift will surely increase your business awareness. No gift is too small, because it only means increased press for your business. Winning a local business promotional gift will also give your business more legitimacy.

Place into action that which you’ve learned from those customers who responded to your marketing survey. As a new beginner, you should be smart enough to be able to make the necessary adjustment to improve your business venture. Use these ideas and you are bound to succeed despite the limited resources at your disposal.

GUIDE TO CREATING YOUR BUSINESS SLOGAN

A business slogan is a short phrase that does a lot of work. It can communicate all sorts of information about a business or product. An unforgettable business slogan can turn to be part of the culture which is great for business marketing. A business slogan expresses the objective of the business.

A good business slogan can help you stand out when competition arises. If you have a business slogan that carries a simple and powerful message while your competitor just has a logo, you have the advantage of winning over the target customers. The right business slogan can dictate how you’re perceived both external and internal.

What is a business slogan?

Any form of business branding plan must involve the creation of a slogan. It is one of the basic elements necessary in building an effective brand campaign. A business slogan typically consists of a short sentence or a phrase that serves to reinforce the business’s name. In fact, many big time businesses have created highly successful business slogans, so successful that the slogan themselves have been recognized by the customers as much as their names.

Slogan are often dismissed as elements for effective branding, which is also the reason why even a potential good business name fails to deliver, its main purpose is mainly to enhance and boost the name or provide a tiny glimpse of what the brand promises to deliver. Even a simple phrase can go a long way when they are active with your brand. Follow these steps to creating an effective business slogan.

1.     Consider why you need a business slogan. Think about what is most important for your business. Make your business slogan is original, memorable, to differentiate your business and include a key benefit.

2.     Examine other business slogans and decide what works and what doesn't. For example, MTN "Y’ello Nigeria", “Everywhere You Go”, “Life Is Beautiful” are memorable and immediately conveys a strong image.

3.     Be truthful. It is bad if business slogan claim that you are "the biggest restaurant in the town". While, there is another large restaurant outlet in the town. Instead, concentrate on what distinguishes you from your competitors.

4.     Create an emotional response. People like it when a tagline takes them to somewhere emotionally. A tagline takes you there in your head, when you were on those road trips and had a little more freedom.

5.     Make your business slogan customer focused. Try to know the opinion of your customers. What they like about your business and integrate it into your business slogan.

A good business slogan tells your customers the benefits you offer them, shows how you position yourself against your competitors, and makes your business memorable to prospective customers.

Golden Rules

Do:

Be original

Be memorable

Be simple

Be believable

Include a key benefit

Impart positive feelings for the brand

Recall the brand name

Differentiate the brand

Reflect the brand personality

Be strategic

Be competitive

Be neat

Help in ordering the brand

Don’t

Be in current use by others

Prompt a sarcastic or negative response

Be pretentious

Be negative

Be corporate waffle

Be complicated

FACTORS THAT CAN MAKE YOU OR BREAK YOU AS AN ENTREPRENEUR

Entrepreneur means a person who organizes, operates, and assumes the risk for a business ventures. Most time, entrepreneur is commonly seen as an innovator of new ideas, and business processes.

                 The world business has become very competitive, so as entrepreneur will have to consider some specific factor to get ahead day by day. As an entrepreneur, you need to consider crucial factor that will take your business to the higher level. To be successful, an entrepreneur must consider some sets of crucial and indispensable factors which are as follows:

·        Planning Factor: planning is one of the factors you should consider if you are starting a business. The problem for one-person business is the overwhelming tasks ahead of you every day. Your planning skills would make sure you have an idea of the things you have to do for the day and what you have to accomplish. Entrepreneur business is multitasking and you have to be really good at it accomplish your dream.

·        Management/Organization Factor: management factor will provide you information on how to handle situations when your business starts to operate. Many big firm corporate employ people in different specializations for effective management of the firm. An entrepreneur need to consider this factor to enable him/her know the daily income and expenses, issuing receipts and making sure bills are pay on time. On the other hands,

·        Organization factor should be considered as well. An entrepreneur often deals with a lot of people. Managing people effectively is one of the most difficult tasks in the world at large. An entrepreneur must understand people and know how to motivate them. Dealing with different types of people and arranging different types of programs required considerable organization abilities.

·        Financial Factor: this is the foundation on which your business is build. To succeed as an entrepreneur, you have to build a strong financial base in order to help you support business and run it effectively. It is the most essential factor you need to manage your small business venture, in order to have the ability to manage your finances and have money to pay for your business, casual expenses and have some money in your pocket.

·        Marketing Factor: this refers to the various strategies you use to get potential customers, informing them of your products and services. Valuables marketing include using communication skills, knowing how to classify and target your audience, then using the right marketing strategies to attract potential customers.

·        Communication Factor: this is closely related to marketing but as an entrepreneur, you have to possess good communication skills. An entrepreneur often has to communicate with different types of people. Therefore, to become successful and make the things work, he/she must be ready to do a lot of communication. He/she must practice and put conscious effort to improve his/her communication skills.

·        Technology Factor: today’s business are been run both online and offline. Online businesses have increase tremendously in the past years. An entrepreneur needs to get his/her business online as this will provide opportunities to enlarge his/her target audience. You don’t have to sell over the internet, but your site can describe your goods and services and give your customers the rightful information.

·     

   Interpersonal Factor: this factor connects every other factor together. They include relating well to all customers, building good friendly relationship, effective communication and many more. The way you deal with interpersonal factor will determine much of your success.

     Entrepreneurial factors are the abilities, inherent or learned, that will make or break your business. Knowing these factors from the start will reduce the challenges of starting a business, but being able to use them strategically will ensure that your business stay on even when competitors come in. you will succeed.

Applied Knowledge for Your Business and Strategy

Thousands of businesses across North America are well-positioned to get pummeled by their competition or go out of business in just a few years from now. No, it's not the current state of our economy, it's not inflation, it's actually much simpler than that.

There are just a few simple, yet very potent strategies fast-growth companies use to literally force their competitors out of business. Once these strategies are understood and applied, you will know once and for all why you may be working part-time "for free" and financing Uncle Sam just like thousands of well-intentioned business owners do, with little or no return on their time and investment.

Regardless of what you do or the size of your business, you can apply the following knowledge to your business and expect to see a significant return on your investment in a realistic time-frame of just a few months.

If you are frustrated with the results you are getting with your business, your overhead is overwhelming you or you just need clarity as to what's going wrong and what can be done to change course, please know our staff can help you identify what's wrong and share knowledge only a small fraction of business owners know about.

Make no mistake about it, what I am about to share with you is heavily guarded knowledge that most business owners never share - even with trusted friends. Why? Because should they reveal this knowledge, there's someone out there who could become a formidable threat to them and their ability to earn money for themselves and their families.

Please know I will not hold back on sharing exactly what you need to know.

Does it take time to learn and apply this knowledge? Yes, it does! It takes time and energy on your behalf.

With that said, a question we also get from our clients is: "Why should I trust you?" That is a fair question. Let me answer it: Over the last 20 years, I have been blessed to work for some of the greatest companies in the world and be around some extremely smart chief executive officers, business process analysts, engineers and operations managers.

What these people taught me are the real secrets to why the companies they operate are at the top of their game. Let's name a few of these companies: FedEx, Ingram Micro, D-Link Systems and a half-dozen other firms featured in Red Herring Magazine over the last decade.

Do you have to be a Fortune 1000 company to understand and apply this knowledge? Absolutely not!

Do you have to invest your time and resources to make a positive change in your business? Absolutely!

So what areas of knowledge am I referencing that need to be addressed, analyzed and discussed for you to avoid the crash-and-burn syndrome happening all across North America? To keep this simple and to the point, I will not name all of the discussion points, but I will laser beam you in on what you should know right out of the gate.

These few things are the exact pieces of knowledge your top competitors understand, analyze and construct with meticulous execution.

What smart business owners know is that there are areas within their business that if done correctly, can save those thousands of dollars in lost time and reworks, and present huge gains in customer service levels and profitability, regardless of business size or number of store locations.

They all have one common denominator that inevitably crushes the competition: They thoroughly understand how to correctly digitize and integrate certain core business processes, build them around their business architecture and create a business model that eliminates discretion at the operational level and empowers employees to perform way beyond expectation.

That's the key. There is nothing more to it. Now, take action on the knowledge you just read.

So what's in it for you? If you simply take the time to process what you've just read, objectively look at how much time you're wasting on repetitive, time consuming tasks that could be improved using an improved process you're one-step closer.

Also, assess what existing processes and applications are forcing your staff to perform multiple tasks that could be significantly improved when digitized, you're half way there.

Simply digitizing a process is not the solution. Proper integration of digital processes with people and manual tasks are paramount to your long-term growth and profitability. With proper analysis, design, implementation and management, you are well on your way to free yourself up and then focus on the business rather than let the business control you.

Know this: Success in business is rarely accidental. It's an ongoing process that demands comprehensive planning, organization, coordination and analysis at every decision-making node to ensure the very best results.

Aside from your people, who are your most valuable resource, technology is the most critical profit-earning and cost-reduction investment you will ever make.

When designed correctly, synchronized with core business processes and people, your technology infrastructure is the catalyst for a highly effective, extremely profitable business model.

From initial concept to final implementation, there are a series of events that if properly implemented, will significantly increase your chances of long-term success. When time, energy and monetary resources are properly utilized, managed and monitored, you position your business to leverage the very best technology has to offer.

Integration of the correct technologies into business processes is at the heart of why some businesses quickly accelerate past their competitors.

A well-defined and carefully orchestrated project management plan, along with ongoing testing and monitoring, will influence the final outcome of your unique business model.

The fact is, technology integration must meet present-day requirements and challenges, yet remain flexible enough to accommodate changes that are imminent in virtually every business
I've had the privilege of working in.

More importantly, your technology infrastructure must be resilient, scalable, replicable, and dependable and most of all - deliver cost-effective results.

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