Tips for Marketing and Growing a Startup Business

Best practices for the new entrepreneur

One of the most fulfilling things a person can ever do is start and grow their own business. Being your own boss, earning your own money, and even enabling others to earn a living is awesome. However, 8 out of 10 business start-ups will fail. One of the main reasons they fail is due to a lack of marketing. New business ventures usually start with limited capital. If the new business does not become profitable before that capital runs out, the business goes under.

Generating revenue enables a new business to stay afloat while it goes through the usual growing pains. Every new business experiences growing pains. With a regular flow of new customers, you’ll have a million problems but revenue won’t be one.

  • Create an annual marketing strategy
  • Differentiate yourself in the marketplace
  • Tell your story with video
  • Stick to a monthly marketing budget
  • Use several marketing channels (integrated communications marketing)
  • Get monthly marketing support

Develop an Annual Marketing Strategy. Plan an entire year of marketing, advertising and promotional activities. Strategically position your brand message everywhere your target audience is, online and offline. Differentiate yourself in the marketplace and communicate your value proposition in a clear, concise and compelling fashion. No medium is more powerful than video for telling a compelling story.

Schedule a realistic monthly marketing budget and stick to it. Consistency is the key to building top-of-mind awareness. Never give your customer a chance to forget about you. While the old adage is true — you have to spend money to make money — you can still generate new business without having to dole out big bucks.

Start with a marketing package that includes all of the main elements your small business will need to have an impact in the marketplace. Doing too little may be a waste of time and money.