6 answers
Gertie
Student
North Platte, Nebraska
1
Question
Asked
347 views
How do I start building my own small business into something bigger?
help me please!
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6 answers
Rebecca Tang
Banking
1515
Answers
Hong Kong
Updated
Rebecca’s Answer
Thank you for your question. I am glad to hear that you would like to be an entrepreneur. Have you thought about what industry you would like to start your business?
Below are my suggestions :
1. Think about the industry you have interest or you have strength
2. Do some analysis on the industry, e.g. entry criteria, competition status, any alternative / substitute, etc.
3. Attend industry relevant courses and management courses
4. Work in the industry some time to understand the operating model and establish people network
5. Start the business online first if possible
6. Define a long term business development plan and break it down into 1-2 milestones. Review the plan regularly and make adjustment if necessary.
Hope this helps! Good Luck!
Below are my suggestions :
1. Think about the industry you have interest or you have strength
2. Do some analysis on the industry, e.g. entry criteria, competition status, any alternative / substitute, etc.
3. Attend industry relevant courses and management courses
4. Work in the industry some time to understand the operating model and establish people network
5. Start the business online first if possible
6. Define a long term business development plan and break it down into 1-2 milestones. Review the plan regularly and make adjustment if necessary.
Hope this helps! Good Luck!
Anthony Kofi Hene-Amoah
Project Analyst/Advisor, Career Advisor, Translator/Editor
145
Answers
Jema, Brong Ahafo Region
Updated
Anthony’s Answer
Hello,
Please, note the following, concerning how to start your own business :-
1. Identify the type of business.
2. Knowledge in the business.
3. Location of the business.
4. Capital
5. Favourable marketing conditions.
Best regards.
Please, note the following, concerning how to start your own business :-
1. Identify the type of business.
2. Knowledge in the business.
3. Location of the business.
4. Capital
5. Favourable marketing conditions.
Best regards.
Brittney Betts
Junior Accountant
27
Answers
Pinellas Park, Florida
Updated
Brittney’s Answer
Hi Gertie,
This is an amazing and ambitious question! There are plenty of ways to transform your small business into the empire you are dreaming of.
I would start by saying it is never too early to start planning. Start creating an image of what you would like your dream company to look like, how you would like it to function, and what will be most important to keeping the business true to what you imagined. If you plan on taking college courses, many of them will help you learn how to market and finance your own business. You will also be able to network with other business majors and potentially start building your team early. As soon as you have the resources to invest you start your business, go for it!
I wish you all the best!
This is an amazing and ambitious question! There are plenty of ways to transform your small business into the empire you are dreaming of.
I would start by saying it is never too early to start planning. Start creating an image of what you would like your dream company to look like, how you would like it to function, and what will be most important to keeping the business true to what you imagined. If you plan on taking college courses, many of them will help you learn how to market and finance your own business. You will also be able to network with other business majors and potentially start building your team early. As soon as you have the resources to invest you start your business, go for it!
I wish you all the best!
Joan Shea
Global Marketing Director
108
Answers
Newcastle, WA
Updated
Joan’s Answer
Hello Gertie,
Your passion for small businesses is truly commendable. These enterprises are the backbone of every community across the United States.
To scale your small business, it's crucial to have a deep understanding of the market dynamics in your locality. A good starting point is your local Chamber of Commerce. By attending their networking events and becoming a member, you can gain invaluable insights. You'll hear from fellow small business owners about the economic environment in North Platte, hiring challenges, tax matters, demographics, and much more.
Consider harnessing the power of targeted social media marketing. Your business needs visibility and customers need to know about your offerings. Tailoring your message to a specific audience, perhaps with a special offer or incentive, can drive more footfall or online traffic to your business. Social media marketing is cost-effective and allows you to target a specific customer demographic.
You can create social media ads using online templates or, for a small fee, hire a graphic designer to create eye-catching adverts. The key is to raise awareness for your business and boost traffic to your physical or online store.
Another strategy is to collaborate with a business that complements yours to increase traffic and awareness. Identify your customer profile and the other businesses they frequent. Approach these businesses with a joint offer - for instance, a local coffee shop and a Pilates studio could team up so that customers get a free pastry with their coffee after a Pilates class.
The more businesses you partner with, the broader your exposure and the higher your chances of attracting new, loyal customers.
Consider advertising in local print media, which is experiencing a resurgence due to digital fatigue. Buying a list of potential customers in your area and sending them a postcard with a special offer can effectively boost your customer base.
Both social media and print advertising offer the advantage of tracking ad effectiveness. By using pixels on your website or a QR code on your mailer, you can monitor new customers visiting your site or store.
Finally, look to successful small businesses like Xponential Fitness, owner of brands like Pure Barre, Club Pilates, CycleBar, and Rowhouse, for inspiration. Engage with online resources and other business owners for tips on effective advertising and promotional offers, as well as upcoming events where you can showcase your business.
I hope these suggestions give you some food for thought.
Your passion for small businesses is truly commendable. These enterprises are the backbone of every community across the United States.
To scale your small business, it's crucial to have a deep understanding of the market dynamics in your locality. A good starting point is your local Chamber of Commerce. By attending their networking events and becoming a member, you can gain invaluable insights. You'll hear from fellow small business owners about the economic environment in North Platte, hiring challenges, tax matters, demographics, and much more.
Consider harnessing the power of targeted social media marketing. Your business needs visibility and customers need to know about your offerings. Tailoring your message to a specific audience, perhaps with a special offer or incentive, can drive more footfall or online traffic to your business. Social media marketing is cost-effective and allows you to target a specific customer demographic.
You can create social media ads using online templates or, for a small fee, hire a graphic designer to create eye-catching adverts. The key is to raise awareness for your business and boost traffic to your physical or online store.
Another strategy is to collaborate with a business that complements yours to increase traffic and awareness. Identify your customer profile and the other businesses they frequent. Approach these businesses with a joint offer - for instance, a local coffee shop and a Pilates studio could team up so that customers get a free pastry with their coffee after a Pilates class.
The more businesses you partner with, the broader your exposure and the higher your chances of attracting new, loyal customers.
Consider advertising in local print media, which is experiencing a resurgence due to digital fatigue. Buying a list of potential customers in your area and sending them a postcard with a special offer can effectively boost your customer base.
Both social media and print advertising offer the advantage of tracking ad effectiveness. By using pixels on your website or a QR code on your mailer, you can monitor new customers visiting your site or store.
Finally, look to successful small businesses like Xponential Fitness, owner of brands like Pure Barre, Club Pilates, CycleBar, and Rowhouse, for inspiration. Engage with online resources and other business owners for tips on effective advertising and promotional offers, as well as upcoming events where you can showcase your business.
I hope these suggestions give you some food for thought.
Alyson Paine
Marketing
2
Answers
San Francisco, California
Updated
Alyson’s Answer
If you have an established business and are looking to go bigger, here are the first things I would look at doing:
1. Website: Make sure you have a website! It's the biggest way people find out about products and services. You can set up a Google analytics account for free to get data on your website so you can understand how people are finding you today, what people are clicking on, etc.
2. SEM / SEO: Optimize the website! Make sure it is optimized to show up for searches in Google and Bing (SEO - search engine optimization) and then SEM (search engine marketing) is an easy low cost way to start trying advertising. Through SEM you pay for your website to show up for specific searches, you can set budgets so you can start with small amounts, whatever you are comfortable with.
1. Website: Make sure you have a website! It's the biggest way people find out about products and services. You can set up a Google analytics account for free to get data on your website so you can understand how people are finding you today, what people are clicking on, etc.
2. SEM / SEO: Optimize the website! Make sure it is optimized to show up for searches in Google and Bing (SEO - search engine optimization) and then SEM (search engine marketing) is an easy low cost way to start trying advertising. Through SEM you pay for your website to show up for specific searches, you can set budgets so you can start with small amounts, whatever you are comfortable with.
PAUL KATES
Sales
8
Answers
Livingston, New Jersey
Updated
PAUL’s Answer
When you embark on the exciting journey of starting a business, you'll find yourself donning various hats - from marketing and finance to operations and human resources. But remember, your primary focus should always be on the market or product you're passionate about selling. It's vital to ensure that your skills and interests align perfectly with what you're creating or selling.
Think of building a business as crafting a term paper. You need to stay aware of various factors, such as your target audience and competitors. Just like a term paper, a business requires a thorough SWOT analysis - understanding your Strengths, Weaknesses, Opportunities, and Threats. This process might seem daunting, but it's an exciting journey of discovery and growth. So, step into this adventure with confidence and enthusiasm. You're capable of great things!
Think of building a business as crafting a term paper. You need to stay aware of various factors, such as your target audience and competitors. Just like a term paper, a business requires a thorough SWOT analysis - understanding your Strengths, Weaknesses, Opportunities, and Threats. This process might seem daunting, but it's an exciting journey of discovery and growth. So, step into this adventure with confidence and enthusiasm. You're capable of great things!