Growing Your Business
So, you want to start a business. Whether your business be a web design company, a restaurant, or a private voice studio—there are some standard tips that can be helpful to an entrepreneur.
Our thoughts on growing a successful business of your own
One of the first things you should look at is whether you are choosing the right business for you. If you’re running a local business, speak to other local business owners and find out what has and hasn’t worked for them. If you’re running an online business, research the current market and check out competitors. Most importantly, make sure that you choose a business that allows you to stand out from the crowd. Focus on the thing that you do best and make sure that everyone associates your business with that thing.
Let’s look back at our examples
If you’re running a web design company, people will assume that you can, in fact, build a complete website equipped with various pages and menu options. Jaytech Designs can of course do all of these things, but also offers a unique design element with incorporating nature photography and custom logos. Offering this service shows an exceptional expertise that other web design companies may not have. For the right customer, this could make Jaytech Designs an invaluable vendor.
The same applies for a restaurant that focuses on speed or a voice studio that is known for its classical technique methods. This isn’t to say that your business’ special power can’t be a more general approach. Afterall, consumers still value places that may not be specialists, but get the job done—just look at frame shops that boast “if you can think it, we can frame it.” Like the niche mentality, this mentality applies to a specific customer and can be successful.
Once you’ve found your focus, it’s important to know your demographic
Get to know your potential customers and put yourself in their shoes. Use this knowledge to build a business model that appeals to your customers, a website that is easy for them to use, or advertising that will stick with them. More so, develop a team that knows how to best serve these customers. Invest time in your team and train them to feel empowered to do their jobs outstandingly.
Another way to build a following is to partner with another company that serves your targeted demographic. For example, Jaytech Designs’ founder, Jay, recently partnered with Strattex Solutions, a cannabis marketing company. To Jay, the most important thing to consider before partnering with another company is making sure that the expectations are set for how both companies can improve business for one another. Strattex Solutions works directly with local cannabis companies that sell primarily online. Since Strattex is not a web design company, it was necessary for them to partner with a company that would best fit the needs of their clients. Jay shared with Strattex not only his broader web design experience, but also his expertise in nature photography, an appealing niche for cannabis companies. This partnership presented Jaytech Designs with many new clients and a new opportunity to specialize in a specific field.
Although partnering with a company seems simple and perhaps even the easiest way to grow your business, many would agree to take caution when partnering too soon. Even as a seasoned business owner, partnering with the wrong company can lead to some serious disadvantages such as increased liability or a rift in business goals. Make a firm business plan, perfect your business strategy, and build a reliable team before partnering. Remember that your business is a reflection of you and partnering with a company is associating your business’ reputation with another brand. This is also true of your business partner. If your business doesn’t live up to expectations, your partner could limit your exposure in a particular field or, worse, tarnish your brand reputation.
BUILDING A BUSINESS IS NOT IMPOSSIBLE, YOU JUST HAVE TO BE PATIENT AND WILLING TO LEARN YOUR FIELD.