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How To Venture in a Business with Minimal Risks

 

Doing business does not just benefit the business. It is also a sign that a particular locality’s economy is growing. Therefore, the government and the entire community should give importance to the entrepreneurs as they are their partners in progress. New businesses provide jobs for the people and revenue for the government. This is the reason why many businesses should also receive support from the government and from the people in the community. 

However, competition is too stiff today. There are so many businesses that offer the same product, with almost the same branding like some Chicago video production businesses. The consumers are confused and often resort to picking brands that are based on their limited knowledge, not based on facts. In addition, the “price war” is killing most of the small businesses, while it discourages aspiring entrepreneurs to open their own business.  

If you like to venture in a business with minimum risk, be guided with the following tips: 

  1. Open a business while you are still young or while you are still working. Experience is the best teacher. If you fail on your first attempt, that’s fine. Take it as a learning experience, and then try again. Analyse what went wrong with your first business, then make sure it will not happen again. Don’t invest all your time and all your resources into it. Keep your current job. If you need funds to finance your business, you have your own resources. 
  2. Avoid making debts. If you don’t have your own money to invest, don’t apply for a huge loan and start a business. It is always better to start a business with your own cash. Whatever your profit in your business is, it will not go as a payment for your debt and your interest. Your profit is yours to use for growing your business. 
  3. Hire the right people. Your employees are your partner for success. They should share your visions for your company. A rotten employee cannot hurt a big company that much, but for small start-ups, he can really destroy your business. Don’t hire friends or relatives, as you can mix up business with pleasure. Be there during the screening process to make sure you have a say on who are going to man your business 
  4. Be resourceful and minimalist. Don’t buy things that you don’t need. Reuse the things that you already have such as the furniture, tables, cabinets, boxes, etc. Don’t pay for advertisement. Do things your own. Ask the support from friends and family. If you really need to buy items, look first on thrift shops or garage sale.  

 

How to Win Big in Digital Marketing

There is no easy way to establish a brand. You need to spend time and money in marketing your company. Most of the time, these two are not enough for brand recognition. The right marketing strategy helps a lot in putting your brand ahead of the competition. 

  • The most effective way of marketing any product or company today is getting it online. There are so many options on how to make your brand be found online. Every digital platform has its advantages. If you can make your brand available in more than two digital platforms, the better.
  • Make your product appear on several websites. You don’t have to create a pop-up ad or anything like it. All you need is to partner with the creators of a website or social media pages to mention your brand. In return, you will also do the same thing to them. A positive recommendation from a non-competition company is a great help to get their visitors be directed to your website. Partner with several online marketers like you to get more traffic and build links easily.
  • Write interesting features about your brand. Quality articles are as effective as videos, infographics, slideshows, podcasts, etc. However, creating an interesting article out of some ordinary topics might be very challenging. It is a good idea to make the article interactive for the readers. Ask the person to do something when reading the article such as answering a survey, use a calculator to compute for something, or answer Buzzfeed Quizzes.
  • Get connected with a broader number of prospects on a personal level. This means your brand should be available on different social media platforms such as Facebook, Instagram, Reddit, and Twitter. By doing this, your brand can be found by millions of users around the world. At the same time, it provides them an easy and personal way of reaching your company. The exchange of information over the social media is faster and more intimate which most consumers prefer to be.

Ask help from your friend and relatives to get your brand appear on their online pages as well. Your first aid help should come from them, so don’t be shy to tap their shoulders for help. Ask them to mention your brand on their websites and social media pages. The more people who follow your brand online, the better.

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