I was talking to a friend earlier this week about the music lessons he teaches. He told me he currently has three students and is working on getting a fourth sometime soon. I asked him how he gets the word out about his little business. He said that he mainly uses social media to promote himself and other friends promote him and so on.
I wondered how small businesses get their word out. Some do not, and eventually the business crashes and burns to the ground(sometimes without the public even knowing...that's how hidden they are!). Some business do get the word out and have great publicity and last for a while.
Advertising is so important, because it determines the life of your business, really. People can't support a business they know nothing about!
Posters, self-promotions on social media, word of mouth, big signs, etc are great ways to make your business known.
Saturday, August 27, 2016
Thursday, August 18, 2016
The Beginning...
The beginning of the entrepreneur's journey to success can be a hard one.
Business and marketing plans are needed, along with money(which could involve getting a loan), and most importantly-customers. Without customers the business won't make it very far.
There's a lot more involved than what I have listed above, but that's just some of the basics.
Depending on the business that the entrepreneur is trying to create, competition is a factor and can be tough...or there could be little to no competition at all in the surrounding market(which could be great but very unlikely)
For example, if I'm trying to open a bakery in downtown Cullman, I will be competing with a few different bakeries in the surrounding area. Because of the number of bakeries already established, I will have a hard time building a tight customer base for a number of reasons. The bakeries that have been around longer already have their loyal customers, and since I have a new bakery, the public might be wary of trying food at an unfamiliar place. Prices, environment, people, relationships and the product also have a hand in determining your fate with the public in this situation.
To fix this, the entrepreneur needs a good hand in advertising and marketing, two very important aspects in building a customer base.
Of course, I am just a student, observing and learning the ways of entrepreneurship and what works and doesn't work in that lifestyle.
Business and marketing plans are needed, along with money(which could involve getting a loan), and most importantly-customers. Without customers the business won't make it very far.
There's a lot more involved than what I have listed above, but that's just some of the basics.
Depending on the business that the entrepreneur is trying to create, competition is a factor and can be tough...or there could be little to no competition at all in the surrounding market(which could be great but very unlikely)
For example, if I'm trying to open a bakery in downtown Cullman, I will be competing with a few different bakeries in the surrounding area. Because of the number of bakeries already established, I will have a hard time building a tight customer base for a number of reasons. The bakeries that have been around longer already have their loyal customers, and since I have a new bakery, the public might be wary of trying food at an unfamiliar place. Prices, environment, people, relationships and the product also have a hand in determining your fate with the public in this situation.
To fix this, the entrepreneur needs a good hand in advertising and marketing, two very important aspects in building a customer base.
Of course, I am just a student, observing and learning the ways of entrepreneurship and what works and doesn't work in that lifestyle.
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