You have the concept about your business and you are excited to start selling. All money is where it needs to be and you are sure your company is ready to hit the market. Many of us assume a start-up will have success if we manage the business correctly while it is open and selling all products. There some things you need to do before you think about customers. Here are seven things that any business should do before the doors open.
-
Legal
It’s imperative to have a lawyer already on retainer or on the staff. They can help you with any issues you might face legally once you’ve launched and after. Many owners don’t realize that their brand or marketing could be offensive and bring about a lawsuit. Every company needs a lawyer advising them every step of the way.
-
Taxes
When the business concept is solid and you are ready to roll, you need to make sure that you hire a tax professional. Many people starting a business don’t realize that taxes can make and break a company. Hire a good tax attorney who can break down everything that you will be faced with when it comes to taxes for your business. They can help you if you have a disregarded entity LLC or want to set up something different. Don’t find yourself at the end of the quarter or year trying to figure out what you need to pay in taxes.
-
Tests
It doesn’t hurt to test out your brand or product before it hits the market. You’ve paid all the expenses to see how your product will look to the public, you might as well test it. Be a buyer on the other end and purchase your own products. Make sure everything populates and all sales are going through. A business can never have too many tests that can help their bottom line.
-
Target Market
Make sure you understand your target market. These are the people that will be buying your products and more importantly the group you will spend the majority of your marketing money on. Give yourself some time to know exactly what kind of customer you will be selling to. Understand all of their interests and what motivates them to buy from your company.
-
Technology
Don’t be the last one in your industry to find out about new technology your competitors are using that is racking in sales for them. Do adequate research to find out what is the best technology you can use in your business to generate revenue and help your staff perform their jobs better. There are thousands of new software for accounting, inventory, and tracking marketing. You should already have these in place before your product hits the market.
-
Email Lists
You should certainly have a long email list that can go out to all potential customers. This should happen at the start of your launch or months before it. An email list can be very effective to get people on board before the doors even open. In today’s world, there are all kinds of sophisticated email campaigns you can create within minutes.
-
Website
Make sure you have the best website. Make sure it is not only informative but presents your brand in a positive way. If you have products that need explaining, then use info-graphics or video demos that explain their complexity. A website also needs a blog that allows customers to engage. A blog can be very powerful and lead to new customers, especially if they like the turnaround time when it comes to resolving issues.
Starting a business is no doubt a challenging thing to even think about. The goal for success is to make sure you are as prepared as much as possible. Use these seven tips to ensure that you are ready to hit the community or your local base of customers with your products. Understand that a tax and business professional needs to join your staff at the beginning of the start-up idea or concept. Don’t be naive and assume that just because you have a product everyone is ready to buy it. Make sure your website sticks out from the rest and your brand stays in the minds of customers who want to come back.