Boot-Strapping Tips #4
on the Road to Success
Compiled by Peter/CXO Wiz4biz 7/13
#12. Market Research. Starting a new business on a shoestring budget isn’t easy, but that doesn’t mean it’s impossible. My biggest tip for shoestring start-ups is to do lots of research. Research is what enabled me to start my company on a small budget. However, when I first started, I spent more money on things such as graphic design because I hadn’t researched in-depth to find talented designers who were more cost-effective. If you only call one wholesaler, distributor, graphic designer etc, then you’ll always pay the highest price for almost everything. Another tip that I would give is that DIY isn’t always the best option. Though tempting when on a small budget to do everything yourself, think about how much time you’ll have to spend on that particular thing. Do you have the time to learn it? How much is your time worth? Call in an Expert. Victoria, MyCurls.co.UK
13. Editorials Rock. Send out samples of your new product to all pertinent magazines, eZines, TV shows, social media, etc. – what ever you or your marketing friends can think of. The cost of 20 or so samples will be more than covered when you get that first big order. Harriet, Fox Gloves
14. Social Media Marketing – The Best Tool In Your Toolbox!
Marketing a new business and getting the word out, is the key to any start-up business. Unfortunately, too many business owners miss this step or are not sure how to do it properly. Social media is the least expensive way to market your business and is one of the most powerful tools to get the word out! Fortunately for me, my business is Social Media Marketing, so starting my business without a budget, was just another testimonial I could use in my own marketing plan. The proof is in the pudding, as they say, so pull up your bootstraps and get on the computer! Chanda Gunter, the Social Net Worksite.com
15. Focus On Sales, Use Press Releases & be okay with Incremental Steps
If your budget isn’t very big, you need to bootstrap your business startup by focusing on sales. Send out Press Releases to as many places as you can — use press release services online, call your local paper (see Tip #13). Get the word out that way, and move onto other more costly tactics, once the sales start coming in. Be okay with incremental steps. It is tempting to hold back a service or product until it is perfect, but finding ways to show what you do have working to customers, can get the ball rolling. It amazes me how often people are excited to use something they know is a work in progress, it makes them part of the process. They are going to tell you exactly what should be improved and in which order. Then you can get better and get more Customers. Debra Lewis, Pad Bracket.com
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