Looking to start a new business? Starting a new business can be a complex, exciting time. There are many aspects to explore. Consider this startling statistic approximately 97% of small businesses fail or under perform. There are certain areas that need to be addressed and it may be overwhelming at first. You have to develop an action plan. A new business requires marketing strategies, operations strategies, finance strategies, human resource strategies, and e-business strategies. These aspects are the foundation of a new business.
Being new to the business world can be overwhelming at first. A company with knowledgeable consultants and real world business experience can be beneficial. A company is broken up into two main categories: internal operations and external operations. They are of equal importance. In order to address these two categories they need to be defined. Internal operations are made up of human resources, operations, and finances.
Successful companies have trained professionals with the right experience to prioritize and create a concrete starting point. Human resources are the variable that is the most costly, yet most beneficial. Productivity, utilization, education, and training are areas that require experience and good judgment. When the work environment runs smooth and congruent, the productivity and rate of success will increase proportionally.
Employees who are trained and receive incentives for their dedication to a company’s goal become more motivated and competitive. Employees are the backbone of any corporation, big or small. Choosing the right people, with the right skills, will accomplish the goals, increase productivity, save money, and increase profit.
The second building block in starting a business is operations. You will want to be efficient, yet cost effective. Business processes that run smoothly, with limited disruptions, create a coherent environment. It reduces the workload of employees and provides excellent customer service. Every business has to develop procedures and rules to ensure a standard. The flow of resources, products, and supplies are never ending in a successful business
The third building block in starting a business is finance. Make your money work for you. In order to secure finances from a lender, you are going to need accurate and complete information. A lender will want to see a business plan, marketing plan, and financial statements. It is important to remember that there are many businesses looking for funding, so you need to be precise. Each lender is going to want to know every aspect of your business and what you intend to do. Many start up businesses need an outside perspective that will provide the necessary services required making sure your company’s assets and finances are profitable. Reviewing your business and marketing plans before you submit them to a lender will increase a positive response time. Submitting a flawless funding request will help secure your funds.
The second category is external operations. This includes marketing, public relations, advertising, and a website. Marketing is very important when starting a business. You need to get the word out on your company and all you have to offer. Effective marketing takes advantage of new trends and strategies. Your marketing plan needs flexibility to change with your customer’s habits. You will need to do research.
You need to know who your market is, where they are, and what they are demanding. Detailed research identifies objectives to reach your market leading to a successful marketing plan. Creativity and consistency will ensure success. To be successful in today’s market you want to make sure your company’s website is accessible in all-major search engines and directories. Your company needs up to date technology and trends to secure online partnerships and increase visibility and marketing.
Finding a company that offers all-inclusive programs to target specific markets can give you that inside edge. A program consisting of strategic consulting, promotional planning and execution, media planning, and merchandising will increase your exposure and clientele. A state of the art presentation and event marketing creates new business and sponsorship with media and top clients. Great events are remembered and spread the word about your corporation.
Professional public relations programs designed to generate large quantities of news articles and media exposure are key. They increase public awareness, demand, recognition, and visibility. Nothing builds a business like exposure. A new business owner needs professionals who can generate media exposure that you cannot buy on your own including full color catalogues, brochures, print ads, and customized color ads for major magazines and newspapers, increasing your image in the business world.
This final step will separate you from your competition. You need an engaging, informative, easy to follow website. Your website is your calling card. A good website, especially for a business starting out, is extremely important. Design and create a website with the most up to date technology and applications. This will heighten exposure and your company’s image. Continually monitoring the website and making the necessary changes including graphics, text, and information will keep you ahead of your competition. Choose the best website to target your customers and help reach your goals and objectives. A website will build loyalty and create a cost-effective way for customers to do business with you in a fast paced market.
Sure these are only a few steps in starting a business. There is a lot of planning involved. These steps are crucial to a successful business and Rising Star Strategies will ease the transition. Their experts are here to help you. They specialize in all the areas you will need to achieve to have a successful business. They work one-on-one to address concerns and help you get your foot in the door.
J.P. Riley, President of Rising Star Strategies has over 20 years of business development and promotional profit building experience. Mr. Riley can be reached at 203 564-1924/East Coast or 310 242-6696 West Coast. Visit