STARTING YOUR

BUSINESS

MODULE-08

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8. Module 08-Launching your business:

Table of Contents

8. Module 08-Launching your business: ................................................................................................. 1

6.1. Planning a successful business launch .................................................................................................... 2

6.2. Time management and delegation ......................................................................................................... 4

6.3. Personal development ............................................................................................................................ 5

6.4. Building your business network .............................................................................................................. 7

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6.1. Planning a successful business launch

A good launch that creates impact among your audience can get your business off to a great start. A

successful launch, though, is much more than an event or a date. It’s actually the culmination of many

months of thinking, preparation and action. Putting a deadline in place for the official start of your business

is very useful so you can plan around it, have a focus to work towards and use to create a sense of

anticipation and excitement among your target audience. But building your business can be under way

long before this date.

Think about huge brands that have products which are known worldwide, like Apple and Nike. The

awareness and anticipation they build before a new product launch can gain such momentum that the

media cover the story well in advance and people scramble to be the first to have it. No small business will

have the resources and influence of a multinational company but you can learn from their approach.

Use all the traditional methods you can to let people know your business is preparing to open. Spread the

word to everyone you know – friends and family, neighbours, present or former colleagues, network

contacts, suppliers and any other contacts you’ve made while researching and setting up your idea. If

you’re starting from dedicated premises, use signage as early as possible to announce your opening ahead

of time.

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The big advantage of digital media is how much power it gives you to do your own marketing and PR. Use

every opportunity you can to direct potential customers to your website and facebook page. Keep them

lively and active and post plenty relevant news and related items. Give free information – it builds

credibility and lets people feel what it’s like to use your business. Build a twitter following by engaging in

conversations that bear some relationship to you and your business and attracting followers. Start

conversations that get you noticed but keep them respectful and don’t boast or focus too much on

yourself.

Use Pinterest to create a collage of images that can build anticipation – like a close up of the latest eye

shadow colour palette, you shopping for décor materials, a wedding venue, a dog being groomed or

attention grabbing nail art. Post clips of video to Vine, like receiving your deliveries – you can leave people

wondering ‘what’s in the boxes?!’. Short snatches into your new world will create anticipation and leave

followers wanting to see more.

As well as showing the features of your service or product, show the benefits - the end results. How will

your customers’ lives will be better after using your business? Use, for example, a before and after picture

of a very dirty dog who’s now a glam pooch, a bride and groom beaming at their wedding venue, a fashion

model with eye catching make up or a stunning piece of craftwork. Get creative. There’s an endless

capacity to post alluring content. If you pay for online advertising, use tools to judge what works best and

improve your reach, like Google analytics or Facebook’s Page Insights and Custom audiences & lookalike

audiences.

Do you know any other businesses whose customers might also be interested in yours? Ask them if they

would be willing to send out a message to their list of customers and you can do the same for them. Your

local vet could announce the launch of your dog grooming business. A dress hire outlet could promote your

professional make up or nail artist business. A venue you intend to book for events and weddings could

mention your Event or Wedding planner business in their newsletter. A school might let its parent body

know you’ll be running craft classes for children. Always offer an incentive that keeps this relationship a

mutually beneficial one so it’s an ongoing marketing tool. Promote these businesses among your

customers and tell them to mention you sent them.

Immediately before your launch, plan a special offer, discount or other added benefit to being present or

engaging with your business in some way on this particular day. This is a great way of building your mailing

list, creating further business and spreading the word. You could offer a special price for any appointments

booked during the next three months. Give a voucher to attendees to pass on to others.

If your business is visible to the public (not just online), make full use of décor to advertise your launch with

balloons, banners or gimmicks that suit your service.

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6.2. Time management and delegation

As the owner of a small business you will probably be very busy most of the time. All the responsibility for

the business rests on your shoulders – the day to day running, the longer term planning, the sales,

marketing and growth need to be driven by you. For the good of your business, to relieve stress and so you

also have some quality time for yourself, sensible time management is essential. Without it you could get

lost in a directionless and endless cycle of chasing your tail and running to stand still. Planning helps make

sure the long hours you dedicate are productive and bring the rewards you want – the reason you started

your business in the first place.

Here are a few tips:

1. Prioritise. Start with the big picture. It’s easy to get sucked into the day to day tasks which are relentless

and could absorb all your time if you let them. It’s vital to step back and take a wider view. Use your

business plan to plot your goals for the year ahead. Plan around the events and actions you need to put in

your diary to keep a focus on where you’re going. Review this at the beginning of each month and plan in

more detail what you can do to further your business growth. Assess what you’ve been doing. What’s

productive and what should you change or drop? There’s a well-known theory that 20% of your

products/services/customers provide you with 80% of your sales. Recognise where your time gives a

rewarding return and minimise effort on what doesn’t.

2. Make ‘to do’ lists every day. A good time to do this is at the end of the day and/or the beginning of the

next. When you’re very busy and juggling many different roles, it’s easy to forget some of what needs to be

done. Prioritise again – put the most important tasks at the top and do these first. If you have employees,

encourage them to do the same. Crossing off things you’ve achieved gives great satisfaction, peace of mind

and a confidence that you’re in control. Set a time limit for when you deal with calls, emails and ordering

so it doesn’t expand and fill half your day. If you tend to be a perfectionist, let go a little. Sometimes it

matters to have something done perfectly, sometimes it’s a waste of valuable time and getting it done

quickly is more important.

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3. Many entrepreneurs develop a habit of being at their desks for one particular day each week to keep

on top of the organisational side of business. Monday is a good choice – it gets your week off to a good

start. You can plan the other days well and people you deal with know you’re usually available then.

Record keeping can also be done in this time, saving you lots of headaches when it comes to tax return

time.

4. Delegate and outsource. At the beginning you’ll be keeping a very close eye on all costs and expenditure

and this is necessary. Also recognise, though, when doing everything yourself can be counterproductive.

It’s sometimes better in the long run if you pay an expert to do something that would take up an

unreasonable length of your time when you might miss opportunities to take appointments and make

sales. If you have an employee, try not to micro manage all their work. Be clear on the amount or

responsibility you encourage him/her to take without consulting you and also the important things you

want referred to you. Then, let go and trust that he/she will do a good job, even if it’s different that how

you’d do it. Most employees hate being watched too closely – they feel nervous or irritated and do a better

job if left alone. If you chose her for the job, she is probably more than capable. Your place is to be the face

of your business. Clients respond much better, buy more and book more appointments when they have

the owner’s attention.

5. Take time off. With so much to be done and only you taking the responsibility, it can be tempting to

keep working long hours on an ongoing basis. This will be counterproductive before long. People who take

breaks are more effective when they are working than those who don’t take enough. Your brain and your

body are not designed to keep going nonstop. For your own well-being and the good of your business,

regularly take quality time with your family and have fun with friends. Don’t let your work force you to skip

meals. Eat well and stay well.

6.3. Personal development

The reality for most entrepreneurs is that they spend more time working at their businesses than they do

with family. You could say it’s the biggest relationship in your life. A personally owned business is a

reflection and an extension of its owner. To the outside world, you and your business are one and the

same. The stronger and better a person you are, the stronger and better your business will be.

Recognise when things don’t feel right

It’s very likely that the reason you’re about to start your own business is because where you are now

doesn’t feel right for you. Personal reward and fulfilment are central to being happy in your work and

you’re prepared to make sacrifices and work hard to shape your own future. You may be choosing to build

a business around a skill or interest you already have and it’s probably easy to identify what additional

skills you need to train in – social media expertise, cash flow analysis or perhaps marketing. What’s less

obvious, though, is how you could benefit from developing skills to deal with pressure and stress.

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Find your ways to manage stress

This course opened with the idea that the mark of a true entrepreneur is not his successes but the ability

to recover from knocks. Dealing with the myriad of functions you’ll be responsible for will keep you very

busy. The planning, overseeing, day to day running and especially the unforeseen setbacks can be

relentless and take their toll on anyone. The more you can support yourself, the more you’ll be able to

achieve your goals and ambitions. Finding ways to manage stress is a must. If it overwhelms you it’s

difficult to feel calm enough to function well and make good decisions.

Recognise early on what functions and skills you do well and effortlessly yourself and when it’s worth it

to pay someone else to do what would take you too long or you would not do well.

Close relationships with a spouse or other family members that you can share tough times with is a

huge plus.

Having a mentor who shares and understands what you’re going through and can give good advice as

well as practical guidance is another really beneficial form of support.

Regular exercise, meditation and yoga are also excellent ways of balancing a stressful working day.

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6.4. Building your business network

Despite recent economic crises, form the point of view of tools you can use to get the word out about

your business, there has never been a better time. The opportunities for business networking are

endless, both face to face and online.

For start up businesses, the traditional tools of advertising and PR can be expensive. Mostly they’re not

interactive – they give a one way message from you to, hopefully, a relevant target audience and you

may not be able to measure the effectiveness and record tangible results. The benefits of face to face

networking are many. You form two-way, mutually beneficial, interactive and human relationships in a

setting where everyone’s agenda is to help grow theirs and their contacts’ businesses. It’s a very

inexpensive way to promote and grow your business.

Face to face networking

As you’re planning your business, ask anyone you know in business about what groups and events

happen in your area. In every local community there are now lots of opportunities to join free groups

of networkers. Some are general, some focused on particular sectors or themes. More established

companies often from groups with contacts they know will be of mutual value in marketing. There are

professional networking organisations who charge a yearly fee and have focused sales targets and

expectations – as well as gaining from referrals to your business you’re expected to drive a certain

amount of business to your fellow members. Check all the terms and conditions of joining before

handing over a fee – they don’t suit everyone.

Be prepared before you start networking

If you’re starting a one person business, it can be isolating spending a lot of time working on your own.

Many new entrepreneurs miss the interaction with colleagues. The challenge of building credibility and a

list of customers when you don’t have a track record can also be daunting. You probably don’t have a

budget for a high profile advertising or promotional campaign. Networking is a wonderful solution to these

issues. It gives you the chance to engage in a busy, focused environment, come across opportunities you

might not otherwise be aware of and promote your business to people who will not only do business with

you but refer you to their contact list.

Here are some tips on getting the most out of networking:

Include in your business plan a commitment and regular time slots in your diary to attend network

meetings and events – weekly, if possible, in the early stages of your business. Make sure you’re

attending where it will benefit your business – check membership or attendee lists and pick out who

you’d like to meet or be introduced to.

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Fine tune your self-promotion skills. You’ll get better at this by putting it into action, but before you

start, prepare and practice your 20 second pitch and your 2 minute presentation that concisely

describes your business in a way that grabs your audience. Instead of listing in general what your

business does, it can have more impact to focus on a particular product or service. Make it more about

the benefit to your customer than the fabulous features. For example, instead of saying “I use the

latest equipment…” tell them how much their lives will benefit from your service. “Your dog will be so

clean and shiny you can take him to bed with you.” Clearly differentiate your business from others like

yours and speak with enthusiasm, excitement and conviction. Be innovative in how you come across

and memorable in the right way. Mention real customers and successful deals.

Bring plenty good quality business cards/brochures. Don’t try to meet everyone and spread them like

confetti with little engagement; choose to people who you think might be in a business/area useful to

you and build a relationship. There will be other meetings for more introductions.

Networking comes naturally to some, others feel less confident. The more you practice, the more

comfortably you’ll present yourself. Push yourself beyond your comfort zone. You have a lot to gain.

Allow others to talk first; it gives you a chance to gather your thoughts and pitch your business

confidently.

As well as expecting what you want to gain, be prepared to be helpful and generous; it can only boost

your reputation as a genuine, positive and proactive person to do business with. Give away free

information. Mention things you found helpful in setting up or running your business. Refer other

businesses you got a good service from. Your generosity will come back to you.

Be attentive every time you speak to someone. Put away your phone and focus politely. Even if she

may never use your business, she may know someone who will. Follow up all your conversations with

an email or phone call whenever you’ve made a commitment, discussed a possible deal or promised

anything, especially with a valuable contact. Don’t wait for him to contact you, stay on his radar. This is

really important for your reputation. (But don’t be annoying or send repeated uninvited

communication.)

Don’t be afraid to chat with competitors. You may be able to share useful tips or skills and the chances

are you’ll have a slightly different focus. You might market yourselves together in a ‘go to’ area for your

niche.

Avoid spending much time talking about general weather/sporting/news topics. Make your

conversations useful and focused. If it’s clear the person you’re conversing with is a time waster or

won’t be of help, politely move on.

Lastly, it’s an old but true saying – people do business with people they like. Be likeable!

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Further boost your business network using social media

The giant leap in networking has come through the use of online resources. If you combine face to face

networking with activity on sites like Facebook, Twitter, LinkedIn and Pinterest you have a powerful set

of tools to stay connected to people you know, strengthen relationships and loyalty and ignite new

connections all the time with potential customers. Engage on platforms that your audience is likely to

be on and use your website to interconnect your online activity. Setting up a presence on social media

is an invitation to consumers to engage with you so be prepared to be responsive. Take any

opportunities you can to direct people there without being too pushy or annoying. Use tools to monitor

your activity and results. What really matters is turning ‘likes’ and ‘follows’ into tangible engagement

and sales. If you’re tempted to pay for advertising on social media do plenty investigation first – it can

give a good return for large companies but may not be a wise investment for small businesses.

Facebook

Nearly everyone now searches for what they want online before making a move towards a purchase.

As well as your website, consumers will expect to see your Facebook business page to get a closer look

at who you are and what you’re about. With over a billion active users, it’s by far the biggest social

networking platform there is.

Use an attractive cover photo that represents you and include your logo as your primary photo. Post

lots of relevant, interesting content that visitors will be likely to ‘like’. Use photos, video clips, articles

and promotions to create a lively feel. Short, visual posts have the most impact. Facebook admin tools

like ‘Page Insights’ and ‘Build Audience’ can give you information on the patterns of visitors and how to

increase your following. Post about twice a week, be friendly, conversational and polite and respond

promptly to private messages and comments.

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LinkedIn

Most online networking tools are free and very effective. Create your profile on LinkedIn. As well as the

chance to show your collection of qualifications, skills, talents and experience, you can network with

people that fit the profile of customer you’re looking for. You can also invite endorsements from

former colleagues. By searching for groups connected to your idea you can participate in conversations,

answer questions, offer tips and share common information. Or you could create your own group. It’s

not so much a space to look for sales as to build connections that may be helpful and show yourself as

a trustworthy and reliable business owner who does great quality work. You can follow others whose

profiles you like and if you get an appropriate chance to build a relationship, request a connection.

Twitter

Twitter has taken over as one of the single best ways to generate new business online. It gives you an

unprecedented opportunity to build relationships with individuals who may be interested in what you

have to offer. Before you can expect any relationship to turn into a sale, though, you must create trust

and credibility without looking like you’re really trying. Initially, everyone is a stranger – you’re starting

from a blank canvas. Everything you say and post builds your persona. You can search for conversations

that may be relevant to you and join in. Ask questions, answer questions, solve problems. Let others

know you’re open to accommodating their interest and following up by phone or email. You can attract

new followers by sharing interesting things customers would be interested in, like new innovations you

learned at a trade show, insights you picked up at a conference or pictures of great products you carry.

These can all be shared live, adding to the excitement. You can also blog about these on your website.

By using official hashtags from large events in your tweets you can be included in larger conversations

and seen by a big group of non followers. Posting content that gets you noticed in the right way is the

trick. Pay particular attention to those who follow your conversation, comment or retweet your

information and connect when it feels appropriate so you can develop the relationship further.

Statistics show that people are much more likely to do business with those they have some kind of

relationship with than those they don’t.

Pinterest

As visuals have the potential for huge impact and are powerful ways to inspire consumer engagement,

Pinterest has a unique advantage in social media. If your business has an attractive visual appeal this is

one you should explore. You can create a collage of pictures that give ideas, show new ways of using

your products or services and showcase stunning finished effects.

There are many more social media sites that are specific to particular industries, sectors and interests.

Browse and experiment to see which ones could benefit you.