Tag Archives: growth

Could Your Business Be Failing Due to Branding?

Not like many

Owning your own company is an exhilarating experience for many people. You have finally put your ideas into fruition and you want to get the most out of your company. The only problem is that you fear your business may fall victim to the same thing that many small businesses have succumbed to: that no one will remember it and it fails. Did you know that one of the number one reasons that small businesses (or any business, really) fail is that they don’t have a good brand? Effective branding is one of the most important things you need to do in order to keep your business running full steam ahead.

The first thing you need to do is conduct  in-depth marketing research. You need to find out what other companies like yours are doing to make themselves known. Customer preferences and tastes will vary depending on where you open your business and knowing what sets you apart and how to combine the two will put you ahead of the other companies in the area.

Next, you need to offer customers something that is unique, that stands out, and sets you apart. What is it about your proposed company that you can offer to clients that others cannot or what can you give your customers that other companies seem to have a hard time offering? Once you find that unique niche, you can work on the next steps.

Now, you need to choose a brand name that not only stands out but that sets you apart. You want to choose a name that reflects what you feel customers’ needs and desires are, but you also want it to convey your company and what you intend to come from your company. You want a brand name and a message that clearly states what you are about. Consider the industry that you are breaking into and work from there. Are you working in the art industry? Then you don’t want a name that sounds boring. Are you in the legal industry? Then you don’t want an artsy kind of name. Giving your company a name that hones in on what you offer is the best way to start. The key though is to make it unique to you!

Once you establish a name, you need to establish communication with your intended clientele. Did you know that about 85% of communication is non-verbal when it comes to running a small business? Communication is about more than just words. You communicate through emotions, so try to invoke emotions. For example, if you own a resale shop for toddler clothing, you wouldn’t paint the girls section blue, you would paint it pink. You want to set direction and focus through more than just words.

Now that you have established communication, you want to establish consistency. Doing the same thing over and over that works will keep people coming back.  Deliver the best customer service time and time again. Have a great resolution center or procedure that others cannot compare to. Keep things new and lively. It will push you far above the rest.

Using Crowd Funding Effectively To Grow Your Business

Crowd funding has become a powerful tool in helping small businesses grow their business and maximize their full potential. If this is done right, one will see that there are various aspects in a business, such as products and services that can reap the rewards.

Sometimes, people will donate to an online platform because of a worthwhile cause they are supporting. Other times, they will want to invest in a company and in this way they can buy a share in the business. An example of something which you can invest in is green energy. This has become huge over recent times, and a company like Abundance Generation has seen much growth by allowing investors to visit their wind farm.

Another method of crowdfunding is where people are able to donate in a project, but will only get billed once they see their project is starting to pay off. An example of this is Spacehive which allows people to fund a park in a community of their choice.

This can work well if the business has planned their project and has the research set out. You have to be prepared for questions that investors might throw at you. People who are open and are able to engage will go far in this sort of environment.

Crowdfunding is an alternative to the traditional approach of getting loans and quite possibly going into debt. One will also be able to see rewards as you become known through social media. You will be able to see this when you release a product and there are people who fund this, stating that it is a good idea. Often this will go viral.

The top five crowdfunding platforms:

There are many of these platforms that you have to experiment with, but starting with the top ones is always a good idea.

  • Kickstarter – this is mainly for creative projects that specialize in dance, film, arts, food and photography. Ouya is one of the companies that have had a lot of success with them.
  • Indiegogo – There is a lot of money that has been put into this particular platform and it has grown a lot during recent times. They get 4% of the cut, which is about average. This is a platform that is more flexible in nature.
  • Project Travel – As the name suggests, is for people who are interested in the travel industry as well as education type projects which connect with travel.
  • Razoo – This is mainly for nonprofits that want to grow in one way or another. There are no charges for signups and you will find that it has been very popular.
  • Crowdrise – This is basically a platform for good causes which people are able to donate to. They specialize in a wide range of causes, such as disease, education, religion, animal rights, arts, disease and crisis as well as the environment. Their pricing is lower at 3%. They have had success with the NYC marathon.