The Entrepreneurs Library
5 Popular Ways Entrepreneurs Can Launch A Startup
For an entrepreneur, launching a startup begins with the creation of something from nothing. This creation should take into account what an individual is passionate about and this can be done by listing the items and prioritizing them to help an individual remain focused on their idea.
When launching a startup, an entrepreneur must make sure that he or she stands out from the crowd especially because of the large number of new businesses that are launched every year. This is the reason that a successful launch is necessary to help an individual have a strong social proof, build a user base rapidly and improve the chances of long-term growth.
The following are five popular ways entrepreneurs can launch a startup:
1. Determine your target market
The target market chosen should be an industry that is growing fast, big and profitable. The selected market can then be won by differentiation where a business gives customers more of what they want and this boosts their willingness to pay or a business that serves as a low-cost producer and charges the lowest price in the industry. When customers buy the products, the entrepreneur should monitor the changing customer needs as well as new technologies and figure out other additional products to build as well as fresh markets to conquer.
The competition should be studied through the performance of the strengths, weaknesses, opportunities and threats analysis. A list of businesses that offer services and products similar to the one being launched should be done, a review of the marketing materials which includes brochures and ads should also be done.
The marketing tactics and strategy should also be chosen. This involves the sales as well as the marketing channels that can be used which include online, catalog or using dealers. Multichannel marketers usually achieve great success because customers like it when they can shop when and however they like.
Knowing the product’s life cycle is important because the campaign used during the introduction as well as education phase of the service or product needs to be updated as the service or product matures. An entrepreneur should monitor the marketing results carefully so as to notice any diminishing returns that indicate when to revise the service or product, alter the media message or phase out the particular offering.
2. Build an email list
This is important so that people can start signing up to receiving emails from an email list. This should be done before the official launch. Email is important because it can get people engaged as well as convert them into customers. For the email list to work an entrepreneur must get their contact list together, this can be done by downloading contacts from those on the email or from people spoken to. This data can be put in a customer relationship management system. Emailing people directly with the launch announcement is more effective than posting it on social media.
Having a large list of motivated and qualified email subscribers is important if the business is to grow. This list can be built by using list building strategies as follows:
> The list can be built with article marketing where the content is taken from the entrepreneur’s blog or website and is then submitted to article directories.
> Videos can be used to build the list because videos help to authentically connect with the people who visit the entrepreneur’s site and allows engagement in a compelling manner. Videos also allow an individual to interact with prospects better.
> Pay-Per-Click advertising can be used in list building and is one technique that can attract many ideal as well as highly qualified leads consistently.
This list dictates the number of clients and customers that sign on and this affects the income of the business.
3. Optimize your website for signups
For an individual to optimize their website, it is important that they give the right kind of information that will grab people’s attention as well as leave an element of mystery that will generate curiosity. The content on the website should be useful, link-worthy and entertaining as this increases the chance of the start-up being discovered. Assess the type of content the competition is creating and use gaps in the content as an opportunity to deliver something the competitors have missed or are lazy to perfect. Keywords should be worked into the posts and the blog optimized for the search engines.
Having a page that is a basic “Coming Soon” page, can be used to entice people to sign up. Offering a special bonus can be an effective way to get early subscribers. Make social sharing an important part of your website and lead generation plan as well.
The sign-ups should be monitored on a daily basis and this should be set up in a way that an email is received every time someone signs up. This can be used to send the person a follow-up thank-you note.
4. Communicate regularly and clearly
Attracting clients consistently requires that the entrepreneur’s marketing message be clear and stand out. When this message is clear, the marketing plan will be so much easier as well as less costly. To communicate regularly it is important to engage the audience immediately. This can be done by sending out emails regularly, as well as offering people something that will be useful to them with each message. This is one way to keep them signed up, and respond positively to the launch. Have email programs that will allow the set up of “autoresponder” sequences that enable the automatic sending to people a particular set of messages once they sign up.
The emails can offer sneak peeks concerning the progress of the business, industry news, fun quips and also how-to.
5. Develop strategic partnerships
To launch a startup successfully, align it with relevant companies that have significant reach. With that being said, it is very important that an entrepreneur looks for opportunities in brands that will complement their product offering and provide unique value for the customers. Build relationships with people regarded as influential in the industry. This will open the business to powerful resources, endorsements as well as introductions to other key influencers in the industry.
Recommended Books on Ways to Launch a Startup
The Startup Survival System by Kurt Won
New Business Next Steps by Ann Hawkins
Become Your Own Boss in 12 Months by Melinda Emerson
Startupland by Mikkel Svane
100 Days of Growth by Sujan Patel
If you had to pick one, which way would you launch a startup? Share in the comments:
Cody Faldyn
Cody is a blogger, social media specialist, graphic designer, and the Marketing Evangelist behind The Entrepreneurs Library. With a long time passion for personal growth, Cody helped create a website and podcast with the intent to educate aspiring entrepreneurs on the latest and greatest books on business growth and personal development.
