So, you have a fantastic business idea and after some initial research, things are looking good and you wish to take it to the next level by turning the dream into reality. Before you start spending money, there is much to do and we offer a few tips to help minimise risk and ensure a successful launch.
- Create a business plan – This is a must-do; a comprehensive business plan covers every aspect of the venture; startup & running costs, a detailed marketing plan, forecasts for the first 3 years and a flowchart of the organisation that shows who does what. We don’t advise you to do anything until your business plan is complete and let an expert take a look and play devil’s advocate, trying to find weaknesses.read more : marketingproof
- Funding – Crunch the numbers and include absolutely everything, then add another 30% to cover unexpected expenses. The top reason a new venture fails is lack of money, so make sure that you have access to funds if the need arises; anything can happen in business.
- Digital marketing – Whatever the sector, you will need a good digital marketing agency, one that can create a dynamic marketing plan that includes SEO and social marketing and with the right budget, you can create a strong online profile. Ongoing services mean you can retain a high ranking with Google search results, driving traffic to your website. Social media should be exploited, as there is so much marketing potential with Facebook, Twitter and Instagram and when hiring an SEO service, make sure you choose an agency with a good performance history and an impressive client list.
- Customer focused – Irrespective of your chosen sector, you should always focus on customer service and with regular feedback, you can ensure that your customers receive 5-star service. A happy customer talks to their friends and this will generate more leads that should lead to conversions. It is important to know that customers are happy with every aspect of their experience and that any issues are promptly dealt with. Here are a few PR goals to strive towards.
- Outsourcing – Outsourcing allows you to compete with established companies and you don’t have to take on the many liabilities that come with directly hiring employees. Bookkeeping and accounting can be delegated to local providers, while logistics can also be outsourced to a 3rd party provider. This keeps costs down and whether printing promotional content or SEO services, let a specialist take care of it.click here for more : punch4day
- Migrate to the cloud – If all of your critical business data is on the cloud, you can access from any location using any device. Your accountant can be given a password that allows them to access the data they need and by creating permission hierarchies, all players are on the same page.
If you are planning to launch your business in Thailand, check out the BOI website, where you will find a lot of valuable information to help with the registration process. As the business owner, it is your job to minimise risks to the business and with the above tips, your business should get off to a great start.
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