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Friday 5/2 Edition: Here are the Two Best Ways to Start a Company. And The Steps To Ensure It Is a Success

Here are the Two Best Ways to Start a Company. And The Steps To Ensure It Is a Success

Amidst headlines touting the success stories of three year old companies purchased for billions in cash and the seemingly endless news of another startup raising millions of dollars, I thought it appropriate to share some broad pointers in case you are looking to enter the world of start-ups.

To start, find something to sell or create something to gather the masses. People want cool products and services, and they want to communicate with others. As human beings, we acquire naturally and seek community. However, getting your message out there can be tricky.

With limited time for discovery, most consumers are not trail blazers. They wait until they are told about something and if they like the product or service, they will splurge or join in. Unfortunately, because of the sheer volume of similar services, products or communities that are vying for the same eyeballs, there is no easy way to attain brand awareness. Here are some points to help ensure your success.

First, find an idea or avenue to offer a product that is lacking or differs in approach. Most great ideas come from a necessity or convenience that has not already been properly exploited. This necessity or convenience can be right in front of you, but we are so used to doing things a certain way, that we unknowingly overlook these opportunities. So stop and think, is there an easier way?

Next, test the idea or product in a small market such as friends or family. If it is a hit, try and find a co-founder who compliments your work ethic and brings things to the table that you lack. While not imperative, two minds are always better than one. Also, reach into the depths of your past connections to find someone with solid business experience. It is always helpful to have an adviser to bounce ideas off of. Give them a title and a few equity points. Then build the best damn platform you can to support your idea. It has to be easy to navigate and purchase from, and you have to be able to connect with your consumer. Handholding each and every person that comes to visit is imperative. You are catering to a very skeptical potential customer who will only visit for a brief time. If they don’t like what they see, they may never return. You must implement technology or human assets in order to greet this wary visitor and entice them to stay for a while.

Once you pique the interest of your consumer, word of mouth is your best friend. Word of mouth is best portrayed by a positive experience whether it is great customer service, fast shipping, or a product that simply works well. Create a terrific experience and stick with it. Customers tend to notice the bad before they notice the good. And they do not hesitate to spread the word when the experience is bad. With so much choice out there, the customer is king. They have grown to expect perfection in delivery of services, and rightfully so. This makes your challenge greater. Of course, you will make mistakes in the beginning. It is how you recover from them and handle the fallout that ensures your survival. Build the business, staff it with competent smiles and work hard to please your user, consumer, guest and critic. Remember, people want what you have; you just have to make sure they know about it and then do your best to ensure they enjoy the experience getting it.


Once you have built a product or sales platform and developed a following, you want to start advertising, engaging social media (the two go hand-in-hand now-a-days) and PR. Many people have mixed feelings about PR. It is an effective tool when done properly. However...Continue reading > > > 

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