Showing posts with label Pew Research Center. Show all posts
Showing posts with label Pew Research Center. Show all posts

Tuesday, August 30, 2016

3 Keys to Create Engaging Content for More Customers and Sales



One of the most exciting fields for startups right now is content marketing. This engaging way to spread the word about your business has continued to grow as different forms of content gain popularity. Though it all started with the typical blog, companies are now using various forms of content marketing like podcasts to drive more traffic.
This form of marketing is hard to master and with the dozens of verticals involved, it’s rare to come across a valid informational source. That is why Jason Quey started the Content Promotion Summit, an online event that is bringing together over 60 of the world’s best content marketers.
This free event that started July 25, was aimed at teaching the ins and outs of blogging, podcasts, public relations and more. If you’re looking to start with the basics, below are three keys to creating engaging content to get more customers:

1. Develop a strategy.

Every house needs a foundation. The same goes for your content marketing. Entrepreneurs creating a blog need to lay out a strategy that focuses on their goals.
As an example, Drift, a messaging app that helps you grow your business, utilizes their blog to create a voice around sales, marketing and customer acquisition. In under eight months, their blog has grown to over 30,000 monthly visitors without a budget, making their company a thought leader in messaging apps.
To develop your strategy, I suggest reading the Grow and Convert blog where Benji Hyam details the Google Suggested Search hack. This basically involves long tail search terms focused on how-to questions, comparisons, and questions.

2. Gain credibility.

You have the right foundation for your content strategy. Now you will want to know how to create the content to execute on that strategy.
There are different ways to establish credibility and some ways are better than others. Getting press attention, interviewing influencers in your industry, blogging on other company blogs and answering questions online are all ways to gain credibility.
As an example, at my startup Sourcify where we help entrepreneurs find the right manufacturer in minutes, we like answering specific questions on Quora that address the pain point we are solving. This not only gets us traffic but also boosts credibility as people upvote our answers.

3. Utilize social media.

Social media is one of the best ways to share your content. With that said, social media is all about engagement and far too many companies overlook this fact. Companies today post on social like they’re talking to a brick wall.
Hillel Fuld, one of the world’s top tech bloggers and co-founder ofZCast recently told me a story of when Gary Vaynerchuck explained the return on investment of social media. He described social media as being your mom. Mothers are always there to compliment their children and instill confidence. Social media is there to do the same for your customers.
Though content marketing may not show immediate results or returns, it is a must in today’s world of online marketing. By growing your blog or starting a podcast, you’ll see long term growth and gains that you wouldn’t have imagined possible. You could be invited to speak at major events or write for major publications, but if you don’t start now, who knows where your content could lead you.

Friday, June 17, 2016

15 things that happen to every social media campaign




You might think to be a "social media manager" is a dream job, like a travel blogger minus the packing and jet lag.
It seems easy: You do nothing but publish blogs, humor followers with memes, post a quote, share a link and watch YouTube. Well, if you plan on joining a social media company, you've got it all wrong.
Nearly nine out of 10 companies {88 percent) use social media marketing. It’s a virtual slug-fest. Enjoy it but don’t take it lightly. Social media requires hard work. You don’t just fire ideas into thin air. Identify your brand, understand your audience, choose a platform and deliver relevantly, interesting content. There are many pain points to overcome, many things that you must understand before you get giddy over every like or share your post gets.
Though being a social media manager isn't a bed of roses, it's not a bed of nails, either. Manage your expectations by noting 15 things that can happen while you run a social media campaign:
1. Expect to build a name .
Online presence, visibility, and awareness are part of the strategy. Putting your brand on social media is a cheap way to get exposure. And you’ll get the buzz if you do it right. Social media reaches out to a broader audience to pave the way to solid branding.
2. Enjoy brand loyalty.
A Texas Tech University report found brands that engage in social media enjoy higher customer loyalty. A study by Convince and Convert reported that 53 percent of Americans who follow brands on social media are more loyal to those brands.
Social media offers more chances to convert and improve brand loyalty. Every marketer must take advantage of this.
3. You can lose focus.
A report by Hubspot showed that consumers expect brands to be active on three or four social media channels. Logic tells you to immediately create four accounts at once but doesn't do it.
You must assess your resources before you do this or you risk failing in all. Do you have the people, the time, the energy, and the content to keep all of them going? Be realistic—take it easy. Focus on the platforms you can manage and the ones that cater to your audience.
4. You will stare at the wall.
One study showed that creating content is one of the biggest difficulties for digital marketers. You will experience this too. You will stare at a blank wall. There will come a time when you feel like you have done everything. You haven’t. Continue exploring and inspire yourself by reading and observing trends. Open your mind.
5. Formats can change.
Content comes in many forms: blog, video, photo, infographics, SlideShare, DIY, tutorial, list, memes, etc. At some point, you will know which ones work.
This requires understanding your audience. If you have a young audience, you might want to go easy on data and graphics. If your market is old, go easy on memes. Draw up a strategic formats plan.

6. Followers will get angry.
Stop telling yourself that you can please everyone. No, you won’t; no, you can’t; no, you don’t have to. The things you put out will get good and bad feedback. Learn how to deal with feedback. Do not ignore it.
7. Outsourcing to find the right people.
One tip for winning social media marketing: Find the right people to do it.
For start-ups, this is a real difficulty. It’s best to outsource. Don’t force yourself and your small team to do things you have difficulty doing. If you lack a good writer, hire freelancers. If you have difficulty scheduling, hire a virtual assistant. Assemble a team with potential, talent and the right motivation.
8. The fight for time and consistency.
In drawing up a plan, decide at what hour you should publish a piece of content. You must make sure that deadlines are met and schedules followed. Most social media channels enable you to schedule posts—but consistency isn’t just timing. It’s publishing the right content at the right time.
9. Analytics that are lost in (data) translation.
Analyzing metrics and data will be pain points. But don’t be scared of numbers. According to Propeller, a digital marketing agency, data is important in any social media campaign. It converts buzz into revenue. Measure ROI against goals, know the competition and go deeper into every like, comment or share.
10. Dropping everything if your post just went viral.
You‘ll occasionally experience the bliss of going viral. Viral content spreads like a disease. You’ll be surprised at how fast everything happens.
Enjoy virality, because it’s pretty hard to come by. Never rest on your laurels. Keep the ideas coming and get ready for your next viral content.
11. Winning the game of hashtags.
The #GetCovered campaign of the Obama administration is a social media campaign success story. Obama’s healthcare plan was off to a bumpy start, but things changed as soon as they launched the hashtag, reaching out to 26-35 year-olds and older adults. Millennials helped boost the government’s healthcare website traffic by 40 percent.
Get creative with hashtags without losing focus on the people you target. Soon you’ll know the difference between a poorly-constructed and a spot-on hashtag.
12. Find time to repurpose content.
The blog you published several months ago has become relevant again but fight the urge to publish the same blog.
Repurpose it by turning it into a list article. Turn (for example) a step-by-step guide to putting up wall decals into a video. Learn how to recycle content. It saves time and energy.
13. Prove you are not robots.
Social media is tricky in the way it connects people but risks losing people at the same time. It seems very impersonal. Don’t fall into that trap. Let your followers know to whom they are talking.
HBO’s “Girls” promoted their show on Snapchat in a personal way, filming behind-the-scenes videos. Imitate the social media campaign to improve your audience engagement. When you feel your campaign has gotten too mechanical, get personal—it might help things flow again.
14. Revenues are climbing.
Companies launch social media campaigns to boost website traffic, followers, and revenue.
A Social Media Examiner study found that 50 percent of brands that used social media for at least three years reported a spike in sales and revenue, which is good news for companies who take social media seriously. If you do things right, expect increased sales.
15. Select trends to ride.
In the blink of an eye, Facebook introduces an update, Instagram announces a new policy and a new social networking site is born. Learn about these trends, but don’t ride all of them. See which serve your goals and your audiences’ interests.
Social media is a big marketing help, but it poses big risks if you use it without know-how or a good plan. When done right, social media marketing is dynamic and fun.

Wednesday, June 8, 2016

How to Grow Your Startup Without a Budget



Here are 4 things you can do right now to grow your startup without a CMO or budget:


1. Use Free Resources to Spread the Word

There are some high-quality blogs and forums with a large and relevant audience that can be your content distributor and promote your startup. Popular blogs like ProductHuntBetalist and startupli.st are ones that are being visited often by potential customers, tech industry members (including possible future investors or employees) and reporters. Promoting the launch of your startup in one of these blogs can generate massive traffic to your site and even spark interest in tech reporters who can, later on, cover your startup in large tech news outlets.

2. Reach Out to Bloggers and Reporters Yourself

Having a small or zero dollars marketing budget probably means you won’t be able to afford a good PR agency. Don’t be tempted to work with cheap agencies that can’t deliver (for reference, good PR agencies in the U.S charge somewhere between $5K-$10K/month), but rather do the outreach yourself. Whenever you are ready to spread the word about your company, prepare a pitch or a press release and send it to reporters who you know cover your field. Like anything in marketing, the best results are the targeted ones. Most media outlets publish their reporters’ emails, and there are some great templates you can use to draft a release. Before sending, do your homework on what a reporter is interested in. Influential reporters and bloggers receive hundreds of pitches a day, so the major part of your work is to plan and create a great pitch. To make sure it’s appealing and interesting, run it by your friends first to solicit feedback.

3. Use Your Personal Network

Not all marketing and growth has to do with SEO, conferences and buying media. Your personal network is valuable and can lead to even more valuable second and third-degree connections. Maintaining a strong personal network is important for any entrepreneur, as it can be tapped into from the brainstorming stage – advising with friends on aspects of the product, name, etc. – all the way through to the launch stage and future partnerships.

4. Use A/B Testing Methods to Increase Conversion

A/B testing is something that can really help you grow, without investing a lot of money. By using tools such as Optimizely and Unbounce, you can maximize the potential of users who are already visiting your site. A/B testing can be tricky if not done right, as you don’t want to be overwhelmed by numerous variables. Simplify the tests, and each time, check one variable or two. You will be surprised how a small change in the color of a button or the size of your header image can boost your conversion rate, sometimes by 20%-30% or even more.

Monday, May 9, 2016

The most common marketing mistake startups make



’ve seen the same basic marketing mistake play out at some of the best software companies in the world: If your marketing team needs help from engineering to update their website (publish new posts, edit copy, upload images, etc.), then they have been set up to fail.
This mistake is most often made when executives of companies (often engineers themselves) are unfamiliar with the day-to-day job of the marketers, website designers and developers they employ. I know of software companies with hundreds of millions, even billions of dollars of revenue on the line where marketers are simply unable to do their jobs and have to wait on engineering for days/weeks/months to make updates to their websites.
Launching new online campaigns can mean waiting for the engineering team of the company to de-prioritize working on product features to create time for marketing’s needs. It can become a large-scale organizational dysfunction.
This is insane (making the same predictable mistake over and over again) and it should stop. It’s 2016 — we should not still be having this debate.
In this post, I want to dive deep on how this problem gets created, why it can be ignored for so long and what marketers (and enlightened startup executives) can do to fix it.

What is a website?

There is a reason one of the first marketing investments your company made was building your website. When companies first get going they will often put up a website before they print business cards. Your website is literally the face of your company — it is instantly accessible by anyone in the world via the Internet, putting them at the strategic center of any digital marketing effort. For this reason, more dollars are spent on websites ($190 billion) than all of the digital advertising ($154 billion).
The website at early startups often is seen (and built) literally as an extension of the product — with flat HTML/CSS and deployed on the same code-path as the company’s core product. This makes sense when the same team that designed and built the product has all the marketing responsibilities themselves.
But some day you need to grow up, hire marketers and build a proper website. I know of multiple startups with >$50 million revenue where website updates require a new deploy of their core product. This means every time marketing wants to update their website copy, they have to convince engineering to make a new deploy.
A good marketer obsesses over messaging, writing, branding, SEO, SEM, analytics, etc. Some of them can code, some of them are analytics engineers — but they are not software engineers (they are marketers!). Requiring marketers to learn how to submit a GitHub Pull Request and go through your engineering approval pipeline to do their job is taking dogfooding a few steps too far. You are now needlessly bottlenecking their work and making it needlessly challenging for them to do their jobs.

What is a website?

There is a reason one of the first marketing investments your company made was building your website. When companies first get going they will often put up a website before they print business cards. Your website is literally the face of your company — it is instantly accessible by anyone in the world via the Internet, putting them at the strategic center of any digital marketing effort. For this reason, more dollars are spent on websites ($190 billion) than all of the digital advertising ($154 billion).
The website at early startups often is seen (and built) literally as an extension of the product — with flat HTML/CSS and deployed on the same code-path as the company’s core product. This makes sense when the same team that designed and built the product has all the marketing responsibilities themselves.
But some day you need to grow up, hire marketers and build a proper website. I know of multiple startups with >$50 million revenue where website updates require a new deploy of their core product. This means every time marketing wants to update their website copy, they have to convince engineering to make a new deploy.
A good marketer obsesses over messaging, writing, branding, SEO, SEM, analytics, etc. Some of them can code, some of them are analytics engineers — but they are not software engineers (they are marketers!). Requiring marketers to learn how to submit a GitHub Pull Request and go through your engineering approval pipeline to do their job is taking dogfooding a few steps too far. You are now needlessly bottlenecking their work and making it needlessly challenging for them to do their jobs.

Let engineers code, and let marketers publish their content! Marketers who can’t control their content can’t do their job.If you delay too long and take this to the extreme, you end up with a marketing team of dozens of employees where they can’t update and control the content themselves. How would you like to work on an engineering team where in order to deploy code you had to wait in line in the copyediting queue to get marketing to approve the grammar and sentence construction of your code’s comments?

Enter content management

Simply put, content management software enables marketers to update the content of their websites themselves via a graphical interface. No coding, no pull requests, no code-review — no engineering intervention required. Content management works. Content management enables marketers to do their job.
Content management software has been around for more than 20 years but, strangely for such a large ($190 billion) industry, it has only recently matured. Drupal and WordPress between them now command 65 percent share of the market (going to 80 percent quickly). WordPress and Drupal have won the market primarily because the industry of professional website designers and developers have, by and large, standardized their work on the software. Increasingly over the last few years, if you are professional website developer you won’t get hired by marketers unless you use Drupal or WordPress.
Most marketers by now know how to use these tools and are comfortable using them (just ask them!). There is an increasingly robust vendor ecosystem (in which Pantheon competes) that specializes in operating — hosting, scaling, tuning, developing — WordPress and Drupal sites. But it is a specialized industry with its own tools and vendors, connected but separate from the wider software engineering industry. I’ve found many engineers at startups who are pulled into website projects but often are not up to speed on the content management industry, which contributes to this disconnect.

How website technology decisions at startups go down

Does this sound familiar?
  • Pre-seed: The engineering and product design team for the company’s product own the website. It’s often flat XHTML/CSS hanging off product code base. Life is simple and engineers manage the content themselves. This works!
  • Seed stage: You have your first marketer on staff. You try to teach them how to update the website. It’s pretty hacky, but it kind of works. You know you are bottlenecking them, but who has time to go implement a whole new website?
  • Series A: You are now scaling up your marketing team. You have a marketing executive who keeps bringing up the website and how they can’t really update it themselves. They want WordPress. You suddenly remember how much a PITA that last WordPress site was that you had to manage, so you plead “I hear you, but I don’t think we can prioritize this right now.”
  • Scaling: You now have a sophisticated marketing team built. Content marketers, writers, editors, designers, demand gen, the whole shebang. The marketing team has given up on owning the website. You’ll hear the odd grumbling now and then, but “it is what it is.” Your product team (designers and engineers) must be heavily involved in any new marketing campaign launch. Things seem to move much slower than they should, but the thought of re-building the website feels totally overwhelming to everyone involved. At this point, nobody wants to own it.
  • Then: One night you are browsing a competitor’s or sister company’s website and you realize how much you hate your website. Your website may be well-designed, but it is incredibly thin on content. You know it doesn’t fairly reflect the quality and depth of your product and your company . You know demand-gen is suffering and you can see why —  the volume and quality of publishing on a proper website is incredible. You’re sitting in a (stunning) 1967 Camaro to drag race with a Tesla. Your website may look cool at first blush, but you are being left in the dust.
Even if you are convinced that marketing needs content management, it’s not like you can just snap your fingers. Let’s get into the real horse-trading that happens when it comes to managing your company’s website. And let’s make sure marketing is properly armed because it’s not always fair pitting a marketer against your world-class engineers weighing in on a technology decision.

Top reasons engineers will use to try to explain why you don’t need content management software (and what to tell them)

We can’t run WordPress or Drupal because it’s insecure.
This is a very lazy excuse. While it’s true that you need to manage Drupal and WordPress security updates, that is true of all software for which engineers are responsible. It would be like a marketer saying “We can’t invest in PR because it may result in bad PR.” Technically true, but wrong nonetheless.
It may be true that the engineer may not want to take on the security burden themselves, which is fair, but there are a number of great options for outsourcing this responsibility.
My follow-up question for your security-minded engineering: Do we really want to run our public, Internet-accessible website on the same infrastructure as our product and user data? Breaking out your website from your product can improve security via security in depth.
Our website developers don’t want to use WordPress or Drupal.
This often happens if you are borrowing engineers from your product team to develop your website. Engineers who build products for a living are more familiar with tools for software engineers — React, Ruby on Rails — as opposed to the tools professional website developers use, such as WordPress and Drupal. This can be especially tricky if these developers are shared between product and marketing; it is hard to ask engineers to flip back and forth between two very different kinds of environments.
However, to be fair to marketing, you are making an implicit trade-off. You need to sit down and decide what’s more important: for your front-end engineers to use the tools they prefer or for your marketing team to be able to manage their content. That’s a decision that requires thoughtful weighing of trade-offs.
Long term, obviously, the real answer here is to get marketing their own resources for developing the website. The sooner the better, because it will become increasingly hard for the product teams to carve out time to help to market; they have their “real” jobs to do, of course.
This flat-file website technology I use to update my personal website is way better than Drupal and WordPress, so we should use it instead. I’ll teach you how to make a Pull Request, it’s easy!
This is pure hubris. Marketers, not your engineering team, are experts in evaluating marketing software. What would happen if your marketer went up to your CTO and told them “I went to this conference and saw a demo of this data-center management software from Oracle that is SUPER powerful? I am really concerned that we are missing the boat here.”
If an engineer ever tells your marketing executive they know how to evaluate marketing technology better, your marketer should smile politely and stay firm (and feel free to send them to this post).
WordPress and Drupal are overkill, our engineers are going to build you a custom CMS that will work way better.
This is beyond hubris. It’s really stupid. Anyone planning to spend hundreds of thousands of dollars (let alone millions) building a custom CMS is on a fool’s errand. I am not understating the risk. In extreme cases (e.g. at digital publishers) I have seen these decision derail companies.
What would you say if your CTO came to the conclusion that in order to build your product they needed to develop their own proprietary replacement for the Linux kernel?
WordPress and Drupal are huge, established open-source projects with thousands of contributors and ecosystems of hundreds of thousands of professional developers, marketing users, and vendors. In terms of successful open-source projects, they are right up there with the Linux kernel. They have leveraged hundreds of millions of dollars of open-source engineering effort. They are incredibly robust products.
Your engineering team may be talented, but they are not going to build a replacement for WordPress or Drupal overnight. They are going to build you a complicated, buggy website money pit that your marketing department will be married to indefinitely. For a marketer, this can be job-ender.
If your engineering team came to this conclusion, you need to push them hard — your company cannot afford this mistake.
We are too invested in our current website stack right now and there is no way we can prioritize rebuilding it right now.
This is a tough one as it’s a high-level and high-stakes prioritization decision for your company.
You first need to answer for your company, how important is our website? I would start this exercise by finding out what percent of your leads originate on your website. (For software companies this is often as high as 95 percent.)
You will then need to weigh the cost (time and money) of rebuilding your website against the opportunity cost of having a high-functioning website. To be fair, you will need to weigh in the project risk of the transition itself as these projects can be complicated.
Finally, you need to answer: If we don’t rebuild our website now, then when will we?
Slowly, but surely rational business decision making will win the day.
 

Monday, March 7, 2016

7 Eye Opening Video Marketing Stats




When it comes to video marketing, we know that it’s the coolest kid on the block. Sure blog posts like this one are super useful, but countless studies show that people prefer to view videos than read text because it’s visually engaging and really easy to consume.
But as with everything else in content marketing, the world of video is changing. 

#1. 77% of consumers have been convinced to buy a product after watching a video

Product videos are the very best way to educate your customers on what your product can do for them, which will ultimately increase your ROI.
And the great thing about a product video is that you can create any kind that you like.
For example, you could hold a webinar and educate people about your product in-depth, create an animated video to show the benefits of a service in a fun and engaging way, or produce a screen-recorded walk through instructing a user on how to use your product. The choices are endless!

#2. 70% of consumers say that they have shared a brand’s video

So the good news is, those videos that you create for social don’t go to waste! You’ve probably already noticed more and more videos popping up on your social feeds, and most of them are from brands.
But the key to a shareable video somewhat differs to that of a product video. You should aim to see this as a brand awareness goal, rather than trying to hit your conversion goals. That’s not to say that you won’t increase your conversions, but it’s important to understand that videos on social should be more focused towards the initial attraction stage of the buyer’s journey.
So what does it take to get a person to share your video on social…?

#3. 76% of consumers would share a brand’s video if it was entertaining

When it comes to social media, the aim of the game is to get people to hit that share button. But if you’re struggling to see many shares then it could be to do with the type of content you’re trying to promote.
Does it keep your audience entertained? Getting weighed down in trying to push your product onto your viewers is why most people will switch off. Think about what you can do to make it fun, interesting and entertaining.

#4. 61% of consumers were put off buying a product after watching a bad explainer video

Yikes! This is an important statistic to take note of. If you’re going to create a video to explain what your product or service does then you need to make sure that it’s done right. And by right, we mean quality scriptwriting, illustrations and animation — the whole package.
Interestingly many respondents told us that they were put off buying a product because the messaging was so unclear. Rather than trying to squeeze in every single feature that your product does, think about using the video as the hook rather than the manual.
The very best explainer videos follow a very similar formula in that they connect with the problems of the viewer, they then go on to show how that business solves those problems by highlighting the product benefits, and they close with a killer CTA.

#5. 72% of businesses say video has improved their conversion rate

Do you have a video on your website? If you don’t then you could be losing out on a huge opportunity to increase your conversion rates.
The Crazy Egg video is the perfect example of this. The reason they wanted to create an explainer video was because they discovered that their customers found it difficult to justify paying so much for their service. By creating an animated explainer video and featuring it on their homepage, they grew their conversions by 363%.
The reason it worked so well is because not only does it use a fun character to keep it super engaging, it drills right down to the core and shows viewers the benefits of how they can actually use their product to increase their own web conversions.

#6. 53% of businesses struggle to promote their video content

Promoting any content can be tricky, let alone a video. But if you want it to be a success then you need to ensure that you have a promotion strategy in place.
So where do you start?
Once you’ve created your video and sourced a hosting platform, first step is to put it on your website — so that could be your blog, your product pages, or your homepage. Next, share it on social and pay to promote it so that you can attract your target audience. Once you’ve got that covered, email your database, leverage influencers and set up an ad campaign so that you can drive plenty of viewers to your video.

#7. 91% of businesses say they plan to increase or maintain their spending on video in 2016

If there’s one thing we can say for certain it’s that video isn’t going anywhere anytime soon. We learnt that in 2015 on average, marketers intended to spend up to $5,000 on video, and this looks set to increase for 2016.
After looking at the stats it’s clear to see that the future is bright for video marketing. With more and more businesses using it to educate their audience, raise their brand awareness, and increase their ROI, isn’t it about time you jumped on the video bandwagon?
  Source : http://bit.ly/1Ym64je

Thursday, March 3, 2016

10 Ways to Kickstart Your Business Idea in 2016



It’s never been a better time to start a business. Access to online environments and innovations such as smart devices and cloud technology mean that many entrepreneurs can set up on a shoestring and get things going without needing excessive start-up budgets. Add into the mix the wide availability of cloud-funding platforms and cheap marketing through social media and it’s easy to see the many opportunities that people don’t want to miss out on.
Here are just some ways to get your business idea off the ground if you have the entrepreneurial spirit this year.

1. Find the Right Support

You may have all the personal and physical tools in place, but you’re nowhere without friends. There’s no better time to start networking, building business associate relationships, and getting sound advice from people in your local area and online. The great news for startups is there’s plenty of guidance from other entrepreneurs who are happy to help out for free.
Take the opportunity to make solid, long-term contacts and research all areas of running a business. A good place to start is the Government’s own business portal.

2. Organize Your Funds

While it can be cheap to set up a business nowadays, especially if you have the right idea, it’s a good thing to check what you can currently bring to the table. This should include any debts you have, which may need to be addressed first, and the amount of collateral you can use, if needed, to apply for a loan. If you are finding it difficult to make ends meet, you may well have more problems down the line when you start your business.

3. Come Up with the Right Idea

What may seem like a good idea over a couple of drinks in the local bar might not seem so bright in the cold light of day. Coming up with a good idea is imperative if you want to have any chance of success.
This includes researching how others are running businesses in a similar industry or niche. It also means being honest with yourself.
For a very successful business, the question of scalability is always an issue. In other words, when you come to grow, how easy and cheap is it going to be to carry that out? If you run a restaurant business, that might involve giving out franchises or spending money on new premises.

4. Plan the Business

This is the crucial stage of any startup and the step that many entrepreneurs get wrong. It involves setting out clear stages and strategies, from getting financed, setting up websites, marketing, brand development, and deciding whether you need to have staff employed and where you are going to find them. As far as staff are concerned, there are plenty of options to hire freelancers who can do the initial jobs for you, though you may have to do some hard searching to find the right ones.
You also need to plan for a long-term future and not just look at the immediate setup of your business. There may be a lot to do but it’s important that you have your direction set for some time to come. Your plan should include how you are going to build capital and secure your business future.
You’ll need a strong business plan, especially if you are going to be heading to the bank for a loan or looking at crowdfunding. Check out this article from Start Up Donut for some sound advice.

5. Check Yourself Online

If you have been working for a number of years, no doubt you have a persona online and you need to have a quick search to make sure it doesn’t have any negatives associated with it. Another thing to check, if you don’t want egg on your face, is the name of your new company and whether someone else has got there before you.

6. Register Your Business

One thing you are going to need to do is register your business. This used to be a complicated process, but with online sites such as www.companyformations247.co.uk, everything is reduced to simplicity and you can register everything within 3 hours. You need to do this in the UK if you have a limited company, and it includes registering with Companies House as well as designating directorial roles within your business.

7. Raise Money

Getting the finances together for a business idea is much more viable nowadays. You can use your home or other properties as collateral for a bank loan or choose to sell property and self-fund. Increasingly, many entrepreneurs are turning to crowdfunding to get their business ideas off the ground. If you have good presentation skills and a solid business plan, and can communicate how strong your idea is, then this a great way to get capital. You generally pitch your idea online and people from all over the world can help fund it in exchange for something you offer, for instance a free product or share of the company.

8. Develop Your Brand Online

If you are going to run a business nowadays, you need to develop your online brand and that means marketing. You should have looked into this in detail in the planning stage of your business idea, as it’s the key to success or failure.
You need to build brand awareness, find a following, engage with customers, and use all the free and paid resources out there that help make your business thrive. This may include doing a lot of it yourself at first, but you can also engage with online marketing companies to help you choose the right options.

9. Test, Evaluate, Tweak, Test

While you had strong ideas for how your business would begin to develop, the chances are that things will not go completely according to plan. Even the most experienced entrepreneurs encounter hitches along the way. This is where you need to put in more hard yards. It’s a question of testing everything, evaluating it, tweaking, and then testing again to guide you in the right direction.

10. Plan for Growth

Once your business is up and running and you are satisfied with its progress, it’s time to take a look at that plan again and check whether you under or overestimated growth in the future. Now that you have a bit more experience in the real world, there will no doubt be new ideas that have to be incorporated to guarantee more success. You might need to think about getting other experts on board, or you could be looking to expand into profitable new markets.
There’s no doubt that running a new business requires a lot of good thought, strong planning, and putting in the effort, not to mention often working long hours. With some 50% of startups failing within the first five years, it may seem that you are swimming against the tide in the effort to succeed. If you have done the planning, come up with a great plan, and have the enthusiasm and energy to carry it forward, you stand a better chance of success than other ventures.