We often hear from our customers that it had always been their dream to own a business – whether that’s opening their own store or starting their own restaurant. Like most entrepreneurs, the goal is to turn a passion into a career.
However, many people are held back by the fear that they won’t be able to manage their business successfully. It takes a leap of faith to open a new business, and it takes business savvy to keep it open. In a series of posts, I’ll explore common challenges small business owners face and how to solve it.
One of the first hurdles a small business owner faces is getting the word out about her new business. Or, if the business is established, growing the business and attracting new customers. At the heart of driving sales is marketing. For business owners without marketing experience, this can seem overwhelming. The good news is there is a lot a small business owner can do to market a business easily and efficiently.
1. Define your unique value proposition (UVP).
The first step in marketing a business effectively is understanding your capabilities and the white space your business is filling in your industry.
Inevitably, you will face competition, so take the time to outline what sets you apart from your competitors. Become as informed as possible on your industry. Sign up for industry newsletters; read relevant trade publications; and consider participating in industry events. This will allow you to identify trends, and stay up-to-date with important news. It will also help you identify your competitors. Take a close look at what they are doing and how they present themselves to potential customers.[…]