While many businesses are failing in today's economy there are many more opening their doors for the first time. They are smaller, locally run, and supported by the community where most of the owners have grown up. It's also a good time because local banks are being encouraged to make small business loans more available to those ready to try their skills and become their own boss. Here's how to start your own business.
With unemployment so high, people have time to think about what they want to do with their financial future. For many it means living on less in order to make their own decisions and not worry about the doors closing at a moment's notice. They are in charge of the success or failure in creating, attracting and managing their services or products to local customers and the world at large.
If you are going to run your own small business there are a few things you can do to promote at a low cost in order to build a good customer base. It requires a small investment or no investment at all. This is your marketing strategy and your very survival to your future success.
Start by joining your local chamber of commerce. Your membership will put you in contact with other businesses in your town where you can network and learn more about community events that help to promote your name. With the support of other like minded businesses you can create cross advertising and referral services for each other.
Have the local newspaper write an article about your new business, what it's about and a few personal and positive items regarding your outreach to the community. They will provide information about your services and products as well as a location to a large number of individuals at no cost. As your business grows and becomes involved in community events you will be able to have your company name mentioned in future articles.
Run a grand opening special. It should be for the first full week you are open and include free items, one for the price of two and even a special gift basket for an end of the week drawing. Free items can be hats, pens, refrigerator magnets or any other small number of items you can print your business logo on. Next choose one item in the store and offer two for the price of one. You may lose a small amount doing a two for one, but you will make it up in the sale of other items and return customers.
Create a gift basket that includes your products or services along with items from other local businesses. Place it on display where it is easily seen. For every ten dollars in purchases the customer gets one ticket to fill out. At the end of the week draw a name and promote the win with a picture of the winner with the gift basket in the store window. For everyone else offer ten percent off purchases for the rest of the month.
This is just a small example of ways to help build your business right from the start and increase your customer base quickly. Don't expect to become rich, but if you build your business enough to live well then you are a success and on your way to a better future.