Whether your business is selling lemonade out the front of your house or a new tech invention that will dominate the market, there are some elements that need to be addressed. Elements that will grow your brand awareness and customer base while also the professionalism and competitiveness as a whole. It is in the best interest for managers and founders to understand such elements and how they combine to both generate customers and engage clients and build reputability.
It has been seen through many examples of businesses that have grown almost solely from social media; In order to easily generate traffic and promote your company, it needs to have a social presence. Now I don’t mean that, on your personal account you post “buy lemonade today for $2 out the front or online” every day. What I mean is, set up a profile for your brand “Lemonade Local”.
Giving the brand a name and a location for current and future consumers to find relevant and engaging information will grow the awareness substantially. There are many key elements in a well-rounded social media campaigns that illustrate a balanced content marketing system. Some of the main points are:
– Consistent Posting
– Engaging content
– Backlinks / Contact Information
A web presence will act as a hub for consumers to find information about your company, product and perhaps other info like that of blogs. If your company doesn’t have a website, in this day and age, majority of consumers aren’t going know or find out about you. For a large portion of the population, needing or wanting something is usually followed up with a Google or Bing search. If you company does not come up, you don’t get the business; Simple. Majority of us can agree on this point. When was the last time you were planning a dinner or wanted a new car? Did you look online? At reviews? Yes! These are just some of the main points in promoting an online business presence. Not to mention all the other elements of SEO (Search Engine Optimisation) and Adwords.
The website in combined with other types of marketing like that of social media work together to build a reputable brand that customers engage with and also share and promote the company. It is important for almost any business these days to have such a web presence, because potential and current customers in some cases will rely on it to get the relevant and important information they are after.
We might be slightly biased when it comes to one of the key elements being having an organised system. As an accounting firm, we can appreciate when clients have everything in order either by a bookkeeper or just plain organised. It makes everything simple and fast. Aside from our slight bias however, a well-organised system of records and accounts from the beginning will be easily manageable and economically beneficial. It is also more financially important to keep records in order due to the tax deductions of work supplies and ATO audits if they may occur.
Key areas to consider when attempting to achieve an well organised system are that of:
– Digitise where possible
– Pay on time
– Book keeping
Mission and Vision
The Overall goal of the business and how it plans to get there. Many starter businesses completely overlook this phase and it is not realised until much later in the organisational lifetime of the company. It can be easy to overlook because you create your lemonade stand and want everybody to buy the product straight away. That is goal enough right? Not quite, it should be the business driving force that is reinforced consistently. For example, if you were to “redefine the lemonade stand industry one glass at a time through exceptional customer service.” Everybody within the company and purchasing from it would understand and appreciate that customer service is the large part of what makes the business special.
This is just a silly example but can be carried over to growing businesses. It will assist in recruitment for example because particular characteristics to promote the company need to be analysed. Unfortunately, less and less businesses have such statements to promote the company’s environment.
At Nudge, We strive to simplify accounting for the end users of starter and small businesses by promoting an efficient and skilful team to achieve consistent, reliable and secure services.
You have got to know and understand your market, your customers, competitors, suppliers, stakeholders, and every other element involved in and around your company. The more you know, the more educated your decisions are going to be, which is good. For example, your lemonade stand has an apple juice stand across the road. What are you going to do? The first answer I bet you thought of is to make it cheaper. It is a good idea but there is more to it than that. You can make customer service better, give a free mini umbrella in every drink, loyalty cards and even introduce an ‘organic’ or ‘sugar-free’ line of juices are all some minor things to boost revenue streams and promote competitiveness. But if you don’t have the market knowledge to understand what your competitor is doing and how you can best it, you are going to be worse off in the long run.
A great analogy of this is warren buffets quote: “If you’ve been playing poker for half an hour and you still don’t know who the patsy is, you’re the patsy.”
These are but few of what starter businesses need to grow. But they are important nonetheless. When all incorporated together, a more professional identity for the company is born where customers can learn and interact with the company more effectively. And especially when accounts, financial info and records are concerned more time can be spent on actual business operations, growing and selling, not pedantic repetitive and in some cases mundane tasks.