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How to Digital Market your Start-up to Success by @the_mom_store

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by Surbhi Bhatia | Featured Contributor

Planning to start-up a new business but not sure how to market it and acquire your first customers? While the initial few months can be challenging to build customer trust, brand value and go operational, social media can be a great tool to help you jumpstart your initial customer acquisition journey.

 

Go Live on Social Media Even Before the Launch

I love to call this ‘Product-less Marketing’ because you start subtle marketing even before the launch and this can be a real game changer. Set up your Instagram handle and start doing ‘Teaser’ posts. Give hints on what your product/service is about and introduce a few guessing games to increase interaction and build suspense. Have a countdown to the launch to get people excited. Also, start following influencers from your TG (target group). Understand their behavior, interaction and engagement tools they use as well as start following their followers. By the time you reach your launch date, you would have a solid set of followers who would be following and eager for your launch

 

Be Close to your First Customers and Get Them to Share their Stories on Social Media

After your launch, personally interact with your first customers, and incentivise them with gift cards and freebies to share their social media stories through their personal handles. This will have a double impact- they would come back to buy from your store again with the gift card or share it with a friend or relative which would lead to a subsequent purchase. In addition, the stories shared by them will attract their followers, and can easily be reposted by you to share positive testimonials. You could also post these testimonials on your website and request customers to write a blog to review the product too!

 

Try Out Network Marketing

Many great companies have used this tried and tested technique to gain more customers. Simply reach out to your existing customers and ask them to refer 10 (or any number appropriate) more customers using a customized discount link or coupon code that would get them store credits for every conversion. Many businesses like Uber, Yelp, Avon etc. have acquired customers through such referrals. This will also let you know who your biggest cheerleaders are!

 

Get Some Influencers on Board

Start with Influencers in the range of 10k-30k followers on Facebook, Instagram and similar portals who are willing to do a post for you in return for a ‘barter collaboration’. This basically means that they will promote for your product for free on their feeds, do a story and a post listing out its features. This is a very popular method to gain eyeballs today and ‘Influencing’ is a full time job for many social media enthusiasts who have garnered thousands of followers through continuous engagement and activity.

 

Be Present Everywhere on Social Media Channels

Create your profile on every leading social media channel- Instagram, Facebook, Twitter, Linkedin, Pinterest and Youtube. However, ensure that the users on each of these platforms differ distinctly and even consume the information differently. Hence, make sure that you are adding unique, differentiated and relevant content on each of these channels.

 

Do SEO right from Day 1

Search Engine Optimization or SEO is critical to start ranking on search engines and increase the organic traffic to your website. While this will take painstaking efforts and time to develop, make sure you make your website SEO friendly from day 1. Use Alt-texts for all images, create good and useful content, market your website through blogs etc. Usually companies start focusing on it after a few months when they exhaust the initial marketing capital, but getting it right from day 1 can be a real game changer and show results when you need them!

 

Social Media Ads and Promotions

The best way to build brand awareness digitally is running sponsored ads on social media portals like Facebook. Since Facebook now owns Instagram, just one sponsored ad on Facebook can have your product placement across channels- Facebook Story, Facebook Feed, Facebook Messenger, Instagram posts and Instagram Stories. This can be a very useful brand building exercise introducing customers to your brand and getting them familiar as well as draw traffic to your website which could result in potential sale. One thing to be very careful while running these ads is to choose your audience carefully. Facebook allows you to not just choose the demographics, but also interests, and thus you should be aware of what interests your TG are likely to have to run a successful ads campaign.

 

When I started out my entrepreneurial journey at The Mom Store, we were able to acquire customers quickly through an aggressive presence on social media (both paid and organic) and our continuous efforts to provide a great experience to our customers. Even today, one year on, 50% of our website traffic comes through social media of which 70% is organic traffic leading from our posts about our products or our customer stories!

How to Finally Decide on a Business Idea & Why Choosing the Wrong One is OK

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by Tara Eggenspiller

For several years, I’ve had tons of business ideas but struggled with committing to one. I felt any one of them could be a success but wasn’t sold on any enough to invest my time and money into building the actual product. Many books geared toward entrepreneurs assume the reader has already decided on a business idea and reading these often led me into frustration because I wasn’t sure where to direct the information. In college I was briefly set on ‘Trends on Treads’, a fashion truck selling the wares of local designers. I shopped for trucks and met with potential suppliers but ultimately dropped the ball. “What if I buy this truck but realize I really want to develop an app? What if i learn a programming language but later realize I’d rather pursue a service based business?”

After begrudgingly listening to the new idea of the week one friend said “I don’t understand why you aren’t out driving your fashion truck and selling your wares as we speak. Anyone with web hosting and some moxie can be an entrepreneur in 2017.”

Did I not have enough moxie? Maybe not, but I believe the problem centered around my commitment issues and some serious fears. After endlessly Googling what to do if you can’t decide on a business idea to commit to I realized my only hope was to move forward with one and see what happened. I needed to finally take SOMETHING from idea to execution whether I was 100% passionate about it or not. I looked through my list of ideas and chose the one that required the least investment and overhead and hoped I would learn something along the way.

If you aren’t embarrassed by things you tried a year ago you’re not trying enough new things.”

My business was to be a “nutrition workshop and fitness tee” company, (CHIC) Community Health Initiatives of Chicago (now that I’m reflecting it doesn’t sound so bad..) Was I a nutritionist? No. Was I a particularly gifted tee shirt or graphics designer? No. Was I super in-shape and into fitness more than most? Absolutely no. But I wanted my very own business baby that I could make banners and advocate for. I wanted to negotiate, sell things I created, and attend industry events. I wrote out a few nutrition class templates, designed a silly fitness tee, and got to work.

What I Learned

Choosing the Idea With the Least Investment Was a Good Idea
My tee shirt/nutrition workshop business was less than $500 to execute. Smarter people than me can get the experience for a lot less. I learned the same range of skills I would have learned if i had invested $10,000.

What I’m Good At
I was suddenly in charge of making it happen and being resourceful. I was researching material for workshop templates and making flyers to get people in the community interested, and negotiating with fitness events for vendor space. I learned I was good at writing and sticking to a budget and that I was bolder than I thought when it came to sales. By putting myself in a situation where it was 100% up to me to make something happen, I learned where I thrived and where I struggled.

What Should Be Outsourced
You’ll be skilled at a few things, conversational at others, and still others you should not attempt. I learned there were certain tasks that would hold me up for hours or even days. These things i either did not have the skill set for or lacked the interest in developing it. For example I learned I should outsource logo creation, photo editing, and really anything to do with graphic design. I think I once had the delusion that the entrepreneur must do ALL things 100% by themselves. I learned asking for help is one of the most important skills they can have.

To Build an Audience
Did I ever ask non-profit organizations if they would host my nutrition workshops BEFORE i spent hours creating templates? No. Did i ever ask anyone in my target market what they thought of my tee-shirt design? I did not. I had two fatal attitudes for an aspiring entrepreneur: that “it has to be perfect before I can show you” and that “if I like it and think it’s a good idea, so will you.”

‘Irrelevant to the Grand Scheme’ Skills are Not Wasted Skills
“Ugh. Did I really have to learn how web hosting and WordPress worked? Did I really have to learn about google ads? I didn’t want to be a designer or a marketer after all.”

Around a year after my tee shirt business I finally decided to start a handbag line, an idea I felt 100% committed to. Because I had chosen the ‘wrong’ idea a year prior I had an arsenal of directly transferable skills I would have never learned at my corporate job. This made for much smoother sailing when it came to setting up all the basics, such as a landing page, branding, and facebook ads. I feel more comfortable delegating tasks to others and trying new approaches.

Starting a Business Will GIVE You Something to Be Passionate About
The book So Good They Can’t Ignore You by Cal Newport argues that experience and expertise are the real source of passion; that a naturally ingrained passion is a modern day hoax. I agree and also believe passion is REVEALED through trial and error. During my CHIC days, I became passionate about what I was doing even though I first chose it because it required the least investment. Wouldn’t it be great to find out that the only missing factor in an uninspired idea was a lack of commitment?

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Tara Eggenspiller is an accountant who decided to pursue her long time passion of launching a fashion line. She designs Angela Mariah handbags for artistic and adventurous professional women.

3 Myths about Entrepreneurship by @SandraDawes

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by Sandra Dawes  | Featured Contributor
3 Myths about Entrepreneurship

If you haven’t started your own business yet, and are thinking about taking the plunge into entrepreneurship, congratulations! It has been quite a ride for me and some of the most fulfilling work I’ve ever done. As you consider whether or not you’re ready to make the move to becoming your own business owner, here are 3 myths that I would like to debunk.

  1. You can do it on your ownIf you think that you can be the webmaster, social media manager, event coordinator and bookkeeper, I think you’re in for a surprise. Lots of us think we can do it on our own, some know better. There are going to be times where you need help in areas that are beyond your expertise. You won’t possibly be able to fill every role. Don’t be disappointed you can’t do it all. No one can! Save yourself the heartache and ask for help and support when needed. Don’t waste time in areas that are outside your expertise! I remember fiddling with the design of my business card for an entire weekend when I know graphic design is not my area of expertise. I finally surrendered control to the team that designed my logo and what they came up with was beyond anything I was trying to do.
  1. Doing it on your own saves moneyThink about all the time I wasted trying to design that business card. I could have been enjoying my weekend, or working on developing a program that would generate revenue. Instead, I chose to “save money” by designing the card myself. Not the best use of my time, that’s for sure! The mindset that we’re saving money by doing everything ourselves is based on scarcity thinking. If we had confidence in our ability to generate revenue, spending money paying others to do what they do best makes sense. How can you expect others to pay for your products and services if you’re not willing to pay for services you need? Spend your time doing what you do best and pay others to do the rest.
  1. Social Media presence is everythingIt can be easy to get caught up in building your social media following. I see posts all the time that offer thousands of followers or likes for a fee. When I started building my presence on Facebook back in 2010, the rules weren’t as tight, and it was easy to build a decent following. When I tried to host my first workshop in 2011, with a goal of “only” 10 participants, it was much harder than I thought to get people in the room. My friend, an event planner helping me out, suggested that I might need to start networking. I had been running my business for over a year, but had never been to a networking event! I thought having over 1000 likes on my Facebook page was enough, but I quickly learned that was not the case. You have to engage, in real life and in cyber space. Posting and promoting isn’t enough. We have to develop that know, like and trust factor!

Entrepreneurship isn’t glamourous, but it does have glamourous moments. If you’ve found an endeavour that you’re passionate about, go for it! It’s going to be a lot of work, but most of the time it won’t feel like it. Don’t become an entrepreneur just because you want to be rich, do it because what you’re going to do with that wealth is just going to add to your fulfillment. ♥

I would love to get input from fellow entrepreneurs! Anything you’d add to the list of myths?

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Sandra Dawes, Founder, Life Coach, Embrace Your DestinySandra Dawes is a recovering control freak and excuse maker, as well as founder of Embrace Your Destiny, her life coaching practice. Her work involves teaching women how to stop making arguing for their limitations so that they can create the life that they want. Sandra’s inspiration to help others in this area comes from her own journey and experiences in dealing with the heartbreak of losing her father. She published her first book Embrace Your Destiny: 12 Steps to Living the Life You Deserve, a story that outlines her personal journey, in November 2013.

In her down time, Sandra loves to read, do yoga and spend time with her partner Satnam and their dog Lulu. For more information on what she does, visit www.embraceyourdestiny.ca.

Sowing the Seeds to Grow Your Business by @companyofwomen

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Photo Credit: ]babi] via Compfight cc

Photo Credit: ]babi] via Compfight cc

by Anne Day | Featured Contributor

Experts will tell you that you need to find your niche, and more to the point, a niche market that will pay for your product or service. And they are right, but that’s not always realistic when you are starting out.

Finding customers at the beginning can be a challenge, especially if you are not totally clear about what business you are in. Sales become more of a fishing expedition, where you throw out the bait and see who bites. Not ideal, but you do have to start somewhere.

I have often compared this early stage in a business to when we decided, in our infinite wisdom, to plant a vegetable garden at the farm. Being novice gardeners we started by planting all sorts of vegetables and strawberries, and I have to confess we hadn’t a clue what we were doing. Sort of like starting a business with no concept of what you need to do and when.

The first to take off was the radishes, which is when I started to question our choices – you see none of us liked radishes, so why were we growing them? So note to self, don’t offer a program or service that you don’t like to do either.

Growing our garden was a lesson in flexibility and not predicting outcomes. Given our lack of knowledge, the weather and other tests of nature, such as local critters that were also keenly interested in our end products, it actually paid to diversify. And that’s what you have to do when you start, and then narrow it down when you’ve found what’s working best.

We also learned that we’d been a bit ambitious, planting the seeds too close together. Likewise in start-up mode, in your anxiety for money to start flowing in, you can run the risk of trying to do too much, and spreading yourself thin.

Been there – I know when I had my consulting practice, I took on every project that came my way, as I didn’t know if there would be another one around the corner. So, pace yourself and be prepared to bring in other people which is what I did when I had too many projects on the go.

When you start out you have to plant your business seeds far and wide. And just like our vegetable garden, you may be surprised at what takes off and ends up being your niche market. So often I see “newbies” in a very different business by the end of year one as they’ve tested the market and found out what works, and more importantly what didn’t. Be prepared for non-starters, like our strawberries, which we just dug up, never to do again.

If you have just ended your first year of business, no doubt you will have grown too and be better prepared for the next season in the life of your business. Yes, some aspects may not have panned out as you wanted and actual revenue may have been slower than you expected, but it is key to learn and move on. Don’t give up.
As Seth Godin says in his book The Dip, so often people pack it in when success is just around the corner. So hang in there.

Hopefully you will have zeroed in on your niche and target audience and are ready to replant and further grow your business in the year ahead.

One of the joys of growing something – be it a business or vegetables – is that you get to enjoy the fruits of your labour.

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Anne DayAnne Day has had a somewhat eclectic career from heading up several charities, to being the editor of a national parenting magazine, to working for government and then launching her own business.

But she found working for yourself can be isolating and so eleven years ago she started Company of Women as a way to connect and support women entrepreneurs. Today the organization has six chapters across the GTA and beyond, and over 300 members. In 2009 she received the Entrepreneur of the Year Award in Oakville and the TIAW World of Difference award for her work in supporting women internationally. Over the years she has helped thousands of women grow professionally and personally through her programs, services and personal encouragement.

She is the author of three books, the most recent being Day by Day – Tales of business,life and everything in between. She is a regular business columnist with Huffington Post, and blogs for numerous other publications. She is currently co-authoring a book on women not feeling good enough.

How to Give Your Start-Up a Head Start in 2014 by @DeborahSweeney

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by Deborah Sweeney, CEO of MyCorporation.com | Featured Contributor

Most people tend to feel a bit lethargic around December. The year is drawing to a close, and holiday plans take us away from the worries of business. The owners of start-ups often approach the end of the year as the end of the first chapter of their business – they’ve had a few months to iron out the kinks and, starting January, can throw themselves into the company and turn it into the business they’ve always dreamed of running. Unfortunately, if you don’t use December to get ready for January, you’ll wind up spending months trying to play catch-up. Rather than let December float by, use this checklist to give your business a head start on January 1st.

Incorporate or Form an LLC

Turning your business into its own separate, legal entity is almost always my top tip for start-ups. Forming an LLC or incorporating may have seemed like a waste of time and money back when you were first starting out and weren’t sure if you’d still be in business in a week, but now that your business is really starting to get going, you need to separate your business’s debts from your personal assets. It takes a lot of money to get a company started, and you’ll probably be looking to grow even more in the New Year. Creating a limited liability company or a corporation puts your business in the perfect position to receive loans, without the new debt threatening your own personal assets.

Remember Your Renewals

The state should send notice when legalities like a DBA name or a business license are coming up for renewal, but you shouldn’t depend on the state to remember every little thing when it comes to your business either. Whenever you file for anything that can come up for renewal, you should write down the date you have to renew by. So, if you haven’t already, look up those renewal dates, set aside the fees you need to pay, and don’t let your company fall into non-compliance because of your forgetfulness.

Draw up Employee Agreements

If 2013 went well, you’ll probably be looking to hire in 2014. Remember that you need an EIN before you hire any employees, and you’ll be responsible for any state and federally mandated tax withholdings. You should also look into drawing up an employee agreement or contract so that anyone you hire is aware of their responsibilities, any benefits that are offered, and the grounds for termination. An official employee-employer agreement may seem like a lot of work to create, but it does wonders for protecting your relationship with your employees, and ensures everyone is on the same page.

File for Intellectual Property Protection

Do you have a logo? A jingle? A company mascot? Have you built up any sort of branding? If you have, you need to file for intellectual property protection. You automatically have rights to any intellectual property you’ve used to market your business, but it can be difficult to enforce these rights without registering with the United States Patent and Trademark Office, or the US Copyright Office. Filing a trademark or a copyright can take quite a bit of time, so it is important to get started now, or to contact an attorney or other professional to help.

Prepare for Investor Meetings

Angel and venture capital investing is seasonal, and most firms see January as one of the key months for finding new investments. If you are honestly looking to bring on an angel or VC firm, you need to prepare your business before January starts. That means incorporating so you can offer a share of the company for any investments, and getting your pitch ready. How well did you do in 2013? How do you know 2014 will be any better? The idea behind your business will be important, but you need to show solid numbers before anyone invests in your company.

The New Year offers new beginnings, and if you are looking to really grow your start-up, 2014 is a good year to do that. However, that means you need to get your business ready before the clock strikes midnight on December 31st. The month of December should be a month where you take the proper steps to choose a business entity, stay on top of renewals, create an employee agreement, protect your intellectual property, and, if necessary, prepare for January investor meetings. Make it a proactive month, and you’ll be able to hit the ground running come January. 

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Deborah Sweeney – Legal Expert, CEO, MyCorporation.com – Calabasas, CA

Deborah Sweeney Headshot

As CEO of MyCorporation Business Services, Inc. (MyCorporation.com), Deborah Sweeney is an advocate for protecting personal and business assets for business owners and entrepreneurs. With her experience in the fields of corporate and intellectual property law, Deborah has evolved from lawyer to business owner. She has extensive experience in the start-up and entrepreneurial industry as she has been involved in the formation of hundreds of thousands of businesses for MyCorporation.com’s customers.

Ms. Sweeney received her JD & MBA degrees from Pepperdine University. She is active in the community and loves working with students and aspiring entrepreneurs. She serves on the Board of Regents at California Lutheran University and is a founding member of Partners of Pepperdine. Deborah has served as an adjunct professor at the University of West Los Angeles and San Fernando School of Law in the areas of corporate and intellectual property law. Ms. Sweeney is also well-recognized for her written work online as a contributing writer with top business and entrepreneurial blogging sites.  She is a regular contributor on Forbes, American Express, Social Media Today, and BlogHer among many others.

In her ‘free’ time, Deborah enjoys spending time with her husband and two sons, Benjamin (8) and Christopher (6). Deborah believes in the importance of family and credits the entrepreneurial business model for giving her the flexibility to enjoy both a career and motherhood. Follow her on Twitter @deborahsweeney and @mycorporation.

How to Choose a Business Partner by @DeborahSweeney

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by: Deborah Sweeney, CEO of MyCorporation.com | Featured Contributor

A business partnership is a very unique sort of relationship. Not only do business partners have to work through the usual disagreements and disputes that all people in relationships go through, but they have to do so while running a new company. Their livelihoods are tied up in this venture, and because of these stakes, a business partnership can also destroy what was an otherwise solid friendship. Before you decide to team up and go into business with a partner, no matter what the nature of your relationship together is, keep the following areas in mind in order to do it properly.

Don’t rest on the laurels of friendship

Most business partnerships start organically. Two friends come up with an idea over dinner and decide to try their hand at turning that idea into a viable company. While going into business with a friend sounds great on paper, a pre-existing relationship can often complicate a partnership. For the owner of a start-up especially, it is extremely difficult to keep business separated from personal affairs, and any friction caused by business will inevitably bleed into your personal life. For two people that were, until recently, good friends, this can create friction and disagreements within the decision making process and the resulting fallout will hurt the company. If you are thinking about going into business with a friend, you first need to figure out what type of a businessperson they are, and whether or not they exhibit the qualities you want in a business partner.

Aim for balance

Each person should bring something positive to the partnership – something that the other person wouldn’t be able to provide. Many successful business partnerships have an inside-outside dynamic. One person is much more outgoing, and is the one who secures loans and recruits the best and the brightest employees to work for the company, while the other partner focuses inwardly and makes sure the business is operating like it should. This allows each partner to focus their efforts on one, important aspect of running the business, and keeps each partner from stepping on the other’s toes. Of course your partnership doesn’t have to follow that trope – just make sure that there is some semblance of balance. Few things end a partnership quicker than one partner feeling like they are doing more work than the other.

Formalize the partnership

Slamming down a contract in front of your friend and asking them to sign it might make you feel uneasy, but it has to be done. Running a business requires a heavy investment of both time and resources from both partners, and a contract protects that investment. The most basic formal partnership is created with a partnership agreement in place. This agreement should define the responsibilities of each partner, lay out who owns what, determine how each partner is paid, and detail a plan for mediating conflicts and for exiting the partnership. If you choose to incorporate or form a limited liability company, this partnership agreement should be set into your bylaws or operating agreement. Just make sure that you have an experienced attorney review your partnership agreement so it includes everything it needs to.

Opening up a business with another person is a great idea, as long as each partner brings something unique to the business. Friendship can blind us to the follies of potential partners, so stay objective and clearly lay out what is expected from each party. Then formalize that agreement with a legal partnership. That way both partners know exactly what their responsibilities are, and they can feel confident in their roles as they work to grow the business.

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About the Author:

Deborah-Sweeney-HeadshotDeborah Sweeney is the CEO of MyCorporation.com. MyCorporation is a leader in online legal filing services for entrepreneurs and businesses, providing start-up bundles that include corporation and LLC formation, registered agent, DBA, and trademark & copyright filing services. MyCorporation does all the work, making the business formation and maintenance quick and painless, so business owners can focus on what they do best. Follow her on Google+ and on Twitter @deborahsweeney and @mycorporation.