Starting Out In Business

Building your business and winning customers

Even if you had a successful launch, you need to develop your business for long-term success. Once you're up and running, you need to retain and attract clients and customers.

You should start with the basics by identifying your unique selling proposition (USP) and creating a marketing plan. A good marketing plan should include a website, blog and some advertising mixed with social media activity. 

Good service is also important to make sure you keep your customers happy and turn them into brand advocates for your business. The way you treat your customers matters and the effects of a poor customer experience is people will move their business somewhere else if you fail to impress.

Determine how you will fund your business

In the early stages of developing your business, the funding world may seem complex. The fact is, you cannot expect any business to succeed unless it is adequately funded. It's therefore essential to establish a solid financial base for your new business and be clear about how much money you are going to need and where to find it.

Traditional sources of finance, such as loans and overdrafts, have become more difficult to access. Many people use personal savings or alternative forms of funding that include Invoice Finance, Invoice Discounting or Factoring to develop their business.