Although we see stories on TV about entrepreneurs gathering millions in financial backing to get their ideas into production, the truth is that the inception of most successful businesses is far more modest. In fact, many of the best-known names in industry today began in the homes of their founders.
Of course, today’s entrepreneur isn’t always making a physical product. Lots of information-age jobs can generate from freelance work done at home. But if you have built a better mousetrap, you can beat your own path to the world’s door. Here are a few tips on doing it.
Put Your Name Anywhere You Can
Because you don’t have a factory or an office building, you don’t have a physical site to put forth your name to passing customers. And given that you’re operating at home, you don’t have a monster advertising budget to get you stadium naming rights or to run a major charity.
As you cut corners to scrimp and save your way to profitability, bear in mind that anytime that tiny bits of your operation are in circulation among the public, you need to make the most of it. Get shirts embroidered with your company’s name. Pass around ink pens generously and pass on the plain brown cartons by packaging your goods in branded, printed corrugated box products. They can make a delivery driver into your personal walking billboard as your goods come out of the truck and into the hands of your existing customers. An intriguing design will spur conversation from neighbors or co-workers, bringing those new customers to you.
Target Events That Tie In With Your Products
If you make an innovative, super-tough smartphone case, would your time be better spent attending a convention of aspiring authors or of horse trainers? Obviously, the horse trainers would be a better market for your product, since the writers likely leave the phone on the desk all day, while your whisperer customers spend lots of time galloping from place to place.
Getting your product in front of the people most likely to buy them is a critical strategy for getting them to seal the deal. Do some homework and consider the demographics you are targeting. It’s a no-brainer that products for teens are best pushed at the mall, but you can also do a little stealth marketing by placing your item in the hands of a few teens you know and then hustling them off to a high school football game or to their part-time jobs to throw your product around in front of interested eyes.
Don’t Be Afraid To Spend Money
The old expression goes that you must spend money to make money. Bargain hunters of the world are loath to do so, but the statement has endured because it’s true.
We’re already into shirts, ink pens, and boxes here. But you should also invest in quality professional services like CPA’s, good equipment like a quality copier, and data security like your own server. One simple event that gets fouled up by scrimping on those needs could cost you far more in the long run. Condition yourself to think of investing, rather than spending, when your money is going out for products or services. It’s far easier to weigh the benefits of the expenditure when you’re thinking of it that way from the beginning.