5 Lessons for Small Business Startups

5 Lessons for Small Business Startups

  1. Develop a realistic business plan that you can stick to. The marketing component of your plan should focus on customers: who they are, what are their needs and how you will satisfy these, how will you reach them and connect with them.
  2. Your business plan is your roadmap. It will contain your goal and targets. You will need to treat the plan as a “working document” that you visit regularly. But don’t just look at it! Look to see what you expected to happen to your sales by the end of the month. Did you achieve your targets?
  3. If you underachieved don’t panic. Things generally move slowly at the start until it builds up a bit of steam. But look around and see what’s changed. For example, if you are selling plants and your region last month faced severe water restrictions – that’s probably why you didn’t meet targets. So look into the reason why you underachieved.
  4. A good plan tries to identify all the possible factors, conditions and circumstances that will affect your ability to achieve sales target. So don’t just pull target figures from the air, they have to be based on good research and reliable data, not on your feelings.
  5. Remember that it’s how the product or service is executed that creates the success. Is there adequate level of demand? Make sure that every single customer interaction is of the highest quality and the absolute best. The first base for all businesses is to get alignment between customer needs and your offerings. Any mismatch here could be costly and make your marketing efforts redundant.  Build a reputation by delivering the best.

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