Key Considerations When Launching A New Business
Launching a new business is an exciting time for any business owner. The ability to be your own boss whilst offering a product or service that you’re passionate and knowledgeable about comes with many benefits and rewards. That said, running a business does come with its challenges. Here, we explore our top tips and key considerations for when launching a new business.
What’s in a name?
Naming your business sounds pretty straight forward, right? Coming up with a name that reflects your products, services and values is fairly straight forward, but there should also be some other considerations. Ensure that you check that the name isn’t already taken by visiting Companies House and doing a few simple name searches. You should also try Googling any prospective business name to see what sorts of results come up. In time, you’ll want your business to appear at the top of Google, so avoid choosing a name that’s too broad or competitive. You’ll be thankful later.
Build your brand strategy
Ever heard the saying “a picture is worth a thousand words”? Well this goes for branding too. A company’s branding says a lot about how it conducts business, its products, services, principles and much more. From logos to colourways, typefaces to in-store messaging, your branding should be presented at virtually every customer interaction, both online and offline, in order to leave a lasting impression. According to Steve Forbes, “your brand is the single most important investment you can make in your business”.
Launch a website that sells
No modern business launch would be complete without a good website. But is it enough to build a basic website, nowadays? Whilst there are plenty of DIY website builders out there, creating a website that is specifically designed with your user and end goal in mind is invaluable. Investing in a website that provides relevant information, a fluid user journey and a simple enquiry or booking system will maximise your conversions and save you hours actively hunting for new business later.
Develop a marketing strategy
Not every marketing channel is right for every business, but running multiple marketing channels will ensure your business has more than one horse in the race. Consider both your online and offline efforts in order to capture a wide range of customers with varying demographics. SEO (Search Engine Optimisation), PPC (Pay Per Click) and promotional print materials are the core channels for most businesses and drive the strongest return on investment.
Enjoy the ride
Running your own business is both challenging and rewarding, particularly when you start to see it grow from strength to strength. You’re likely to learn a great number of skills along the way, from being your own sales person and hiring manager, to managing your own budgets and accounts. Don’t be afraid to take advice from others around you, particularly those successful in the world of business. And above all, enjoy the ride, the learnings and the rewards.
If you’re looking for support in launching a new business, then look no further than Oxygen Graphics. From web design and marketing, to stationary and print, we can support you in building a business that succeeds.
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