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I Have a New Business, Now What?

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Congratulations on your new business! This is a very exciting time for you. Doesn’t matter if you’ve jotted down your ideas on paper, just opened your doors, or are in your first couple of years in business, you’re probably scratching your head and trying to figure out what to do next. We’ve been there and have addressed dozens of other businesses in your position. It’s almost scary or nerve racking trying to figure out where to go from here.

If you’re in the first group of people of trying to convert your ideas into opening the doors, there is a lot to have in place. Aside from a well developed business plan, you have to make sure that you have inventory, insurance paperwork, legal documentation, store fixtures, etc. and the list goes on. One mistake that most make is not having a proper marketing plan in place. Let’s face it, you wouldn’t be starting a business if you didn’t have a great idea or doing what you do best. The problem is, if no one else knows that you’re doing this, how are you going to sell your product? Likewise if you have just opened your doors or have been up and running for a couple of years, if you never have developed a true marketing plan, you could be wasting hundreds or even thousands of dollars. This leads me to the first point.

Myth 1: Marketing Plans Are Expensive

This is absolutely false. Marketing plans are designed to be a road map on how you are going to get your business and product out there. You can’t expect a construction worker to build your house if they don’t have blueprints? The point being is you need a marketing plan in place even if you don’t plan on using all aspects of it right away. That being said, if you start advertising on social media without knowing where you are going, you will likely waste hundreds of dollars that could otherwise be used to build your business. The truth is, a comprehensive marketing plan may cost between $250 and $1,000, but the cost of not marketing properly could be thousands of dollars.

Myth 2: Marketing My Business Costs Thousands

Another false statement. You don’t always have to spend thousands of dollars to get your name out there. Truth is, many of our clients are in fact startups or new businesses who don’t have a lot of working capital. Everyone we work with starts with a business plan so we have our blueprints. The next big ticket item is a properly developed website. In terms of the construction of your house, this serves as the foundation. If this is done poorly or develops cracks, your house isn’t going to be standing very long. The important thing to remember is that your website is available 24/7; it’s there when you can’t be. If you chose one of those free, build-your-own sites, I’m sorry to say that while it may look nice, it will be doing more harm than good. The problem is these sites all share one server, (a bigger, fancier personal computer). What this means for you is that your site could be sharing the same computer as an adult site which will really bring your site down in Google’s search algorithm. Most of our clients make the investment in their website to ensure that it is done right and let’s be honest, all other marketing efforts will fail if your website doesn’t make the grade.

Myth 3: I  Can Manage My Own Marketing

If you can confidently do this and back this statement up with action, then I applaud you. The fact of the matter is, most business owners are trying to save money wherever possible and they often look to their marketing efforts as a way to cut corners. Bringing in house or even doing it yourself is commendable but honestly is more of a waste of time and money that could be spent doing what you do best. Often times we work with clients where we will lay out an award winning marketing plan only to have them take it and try to implement it themselves. Within six months however, those same clients are knocking on our door asking for us to help them out, not because of what they were doing was wrong, but in most cases they simply didn’t have the time to implement it correctly. Trust us when we say to save the money, the resources, and ultimately, the frustration and let us work with you. Even if your financials are tight, we have ways to help you.

My promise to you is this: if you have questions or even need a basic analysis of your business, please reach out to us. There is no charge for this, we simply want to help you. At the end of the day, we are the experts in this industry and we want to share our knowledge with you. We truly believe that when our clients succeed, we succeed and we run our business on this simple principle. There is no obligation, no cost, so you have nothing to lose. Call us today or drop us a line.

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