5 Steps to Starting Your Business

Before you can begin to market your brand new business, you need to make sure that you take care of some things first:

1. Choose the Right Name for Your Business - If you're in the landscaping business, don't choose JOE'S PICNIC TABLES for your business name. That may be a little far fetched, but you get the idea. Our business is called Atlantic LogoWear. We are physically located on the East Coast and we imprint wearables and promotional products with your company logo. Have your business name reflect who you are and what you do.
2. Choose an Effective Tagline - Again, consider who you are and what your business is all about when developing a tagline. With Atlantic LogoWear, our tagline is "We help businesses do more business." This lets people know that we can help them increase their bottom line using an effective marketing program. Once you find the perfect one, stick with it and print it on all of your promotional materials: business cards, letterhead, envelopes, brochures, promotional products...virtually EVERYTHING that leaves your office. This will help you form an image or corporate identity.
3. Determine Your Target (or Niche) Market - Think about who you are really trying to reach with your product or service. Be very specific. Sure, you would like everyone to purchase your product, but that is not very realistic. If you are a pizza joint, you may say your target is everyone in a 2-mile radius of your store. BUT, your real target is someone who owns or rents a house, condo or apartment in the 2-mile radius who earns money and is hungry :) Once you determine this niche market, only then can you really sit down to complete the next step.
4. Develop a Marketing Plan - First, decide your BUDGET for the first year, first quarter, first month. Once you make that decision, then lay out a plan of how you want to market the business. Ask yourself these questions: What forms of advertising will I use?; What's the best way to reach my target market? (if your target is moms with newborns, advertising in the AARP magazine wouldn't be the most efficient way to spend your money); Should I consider spending more during certain seasons of the year? All of these questions are very important for you to consider when designing a marketing plan.
5. Compose a List of Benefits - Your customers will always have in the back of their mind, "What can their product or service do to HELP ME?" Beat them to the punch with a list of benefits regarding your product or service. Keep a bullet list handy so you and your employees can refer to it often. Memorize the list so you can rattle it off the top of your head. Publish it on your brochures that you hand out. Do everything possible to let people know that you care about them and how you can help them solve their problems.

Tip of the day: Research, research and more research. Before you take this gigantic step, make sure you do your homework. Google your intended business name to see if it is, in fact, an original. It would be a shame to do all of the work to only have to redo it based on a name change.