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7 Secrets to Success When Launching a Business

By: Brittany Engelmann-- 2016-08-01 7:00 am --

Have you ever wondered why some startups seem to explode with customers, while others are barely trudging through their first year? Is it investment capital? Is it connections? How do these small businesses launch their brand with such tremendous success? Here are some insider secrets to entrepreneurial success that will give your brand a better shot at growth.

  1. Start with a Brilliant Idea and Remember Who You’re Selling To

The secret to business success starts with the initial concept. Whatever it is you intend to sell, it needs to be brilliantly executed in order to be a hit in your area. If you’re opening a restaurant, how will you distinguish yourself from other restaurants in the area? If you’re launching a clothing brand, what’s different about your clothing that will draw customers in? In addition to starting with a brilliant business concept, you need to remember your core audience, so you can build your brand and marketing strategy in a way that appeals to their needs.

  1. Be Accurate and Realistic When Projecting Finances

You only have so much control over the amount of investment capital you receive, so you need to be wise about how you approach finances, especially in your first year. Always be realistic when projecting finances, so you never allocate too many or too few resources to any department within your company.

  1. Hire the Best Talent Around

Your business is only as good as its employees, so to truly thrive, you need to hire the best talent around. Search for employees that are not only friendly, hardworking, and highly skilled in your niche, but also ones that will jive with the company culture, so as to reduce employee turnover.

  1. Place as Much Emphasis on Service as You Do on Products

Customers are initially drawn to a company due to the products they offer. Yet, it is rarely the quality of the product alone that keeps them coming back. In addition to exceptional product lines, you also need to be offering impeccable customer service. Consider the greatest priorities of customers. Most can be somewhat impatient, so efficient service is essential. Many are easily annoyed, so friendly service can go a long way. Put as much emphasis on developing a customer service strategy as you do in developing your product lines, and you’ll be able to appease a much wider network of consumers.  

  1. Let Your Creativity Flow Freely

Chances are, your business isn’t the only one of its kind, right? So you need to develop a strategy for piquing the interest of consumers. Add a splash of creativity to everything you do, from branding to slogans to marketing materials.

  1. Do What You Love … And What You’re Good At

In order to create a thriving business, you need to pick a niche that you actually specialize in. Not only will this likely lead to greater commitment and ambition on your part, but you’ll be offering your customers a higher level of expertise as well.

  1. Partner with Exceptional Suppliers

Perhaps the greatest key to your success? Partner with the right suppliers to ensure your company is a success. The suppliers you partner with will be helping to keep your shelves stocked, ensure you have enough cleaning products and office supplies on hand, and essentially helping to operate your business and keep your customers happy. You need to ensure they are up for the job. At DollarDays, we not only offer competitive pricing to all of our partnering SMBs, but we also ensure all shipments arrive on time, in great condition, and with the utmost level of satisfaction. Give your new business the greatest chance of success. Call us today, and talk to a live representative about our service offerings.