The majority of my clients are established businesses looking to improve their marketing performance. Every once in a while we work with a new startup and we work as part of a business support organisation called Branduin, where we frequently work with startups and pre-starts.
Much of the work with do with pre-starts is in the form of clinics and so I thought I’d go back to the very beginning, just for a change.
Where do you start?
There are two reasons for starting a new business:
you want to do something you love doing.
you’ve spotted an opportunity to make money
There are two ways to then work out whether this is a good idea:
you have a product or service and then go looking for a market (usually coming from option one above)
you identify a group of people with a problem and develop a solution to that problem (usually No.2 above)
Which is best?
To us, that depends on what you want from your new business. If you are are primarily after job satisfaction and loving every day, it’s highly likely to be No.1. You could be lucky and simply love doing something that is in high demand, but this is generally where most lifestyle businesses come from.
So where do you start, whether moving from a hobby to a business, or when you believe you’ve spotted an opportunity. The question is: how can I help?
When starting a new business, the answer to this question is the difference between the new business being a success of failure.
Without the answer, how are you going to explain to your target audience why they should then buy from you.