Starting a business is the desire of every entrepreneur, to start and scale a business is not as easy as one thing, before you start a business there are things you have to have in the back of your mind. In this article I will be listing out things you need to have in the back of your mind before you start and scale a business you should take this particular aspect very seriously, if you get it wrong, everything fails, starting a business is one thing and scaling a business is another thing, your mentality is what determines if the business goes well or not primarily speaking, then we move into the temperature of your buyers, and we conclude with how to draft powerful ad copy using that temperature. I advise you read through this article as it is written, for comprehension and easy understanding. You are about to discover something that will change your business for life.
Don’t start a business if you don’t have a strong reason
This is very important, don’t start a business if you don’t have a strong reason why you should start a business, many people without strong reasons why they should start a business fail in the first 5 years. A business is like a child, for you to profit well in it, you must grow it, you have to grow your business, sales may not pour in immediately but if you can be patient enough, sales will come.
A strong reason gives you passion, passion is the driving force that drives a human being, without passion there’s almost nothing we can do to the end, passion gives you direction and a strong reason gives you vision. Why do you want to start a business? Why do you want to own a business? Is it just to be a boss of your own? If it is, then your why is not strong enough. There are things you have to know before you start a business and this is one of them, don’t start a business without a strong reason, if you are not driven by passion you will easily give up. With a strong passion fueled with a strong reason, the sky would be your starting point. Every business you see today was built, every successful business you see around you today was built on the altar of strong passion and a strong why, go back home and redefine your why, it may be too weak
Don’t start a business without making research
This is one of the most important aspects of business, sadly many business owners make this mistake and they spend the rest of their lives wishing they never did. I have seen business owners go ahead and create products and then start looking for buyers, sadly this is what many people do and we think it’s the normal way to go about it. To start and scale a profitable business, you must do your research very well, and you must create an audience before creating a product. I repeat, you must create an audience before creating a product. When you create an audience, a starving one at that, when you present your product, they will rush it like bees going after honey. If you’re wondering what your competitors did that got them so many customers, they did exactly this. Now it is important to understand that market research goes beyond the norms, for you to scale a business, you have to go beyond your competitors, every business has competitors, to do well in your niche, you have to go beyond the norms, ask deeper questions, a prospect may not be free to discuss their hidden fears, find ways to get into their heart and know what they are asking themselves. If possible, pay someone to do this for you, no matter the type of product you are selling, market research will give you the edge over your competitors when done well. It is through market research that you get the trust of your customers, don’t ever think of starting a business if you don’t do this well, if not it will backfire and you will lose everything completely. There are some hidden questions customers ask themselves, for you to do your research very well you have to ask yourself the following questions; where do your dream buyers hang out and congregate? Name both online and offline places, the more detailed and specific, the better. Next, you ask yourself where do your dream buyers get their information? When your dream buyer is in research mode, where do they go in search of information, is it google? A particular blog? Books? Magazines? Write down your findings, it will come in handy when putting things together. Next, you ask yourself, what are their biggest frustrations and challenges? You have to truly understand and emphasize their biggest frustrations and challenges, make them know that you feel their pains and you understand them. Next, you have to ask yourself what are their fears? What are your dream buyers’ deepest fears! What keeps them up at night, tossing and turning, unable to sleep? When you have satisfactorily answered these questions, then you are ready to go into the market and dominate your competitors.
Don’t say what you cannot deliver on
This is a very powerful and important key, don’t say what you cannot deliver on, if you must start a business and scale it, you have to take this into special consideration. Many businesses have lost the goodwill of the public because of this, and goodwill they say is what builds the brand of a business. If your business loses its name in the public, it is headed for a crash if something is not done about it. Many business owners, in the bid to make sales, have promised what they couldn’t deliver on, they have promised what is above the capacity of their products or services, when they can’t deliver on this, the prospect gets frustrated and angry, and an angry customer will spoil the reputation of a product or services. When a business owner continues to promise what he cannot deliver, he loses customers, and in the long run, the business crumbles. If you must start and scale a business, consider this, do not promise what you cannot do.
Have money for advertising
This is very powerful, if people don’t know your business or brand, they won’t patronize you, if you must start and scale a business, have a marketing budget, every business out there has a marketing budget, and how much they put into ads creating, awareness and marketing. Creating awareness is a very important aspect of business creation. Sadly many business owners don’t consider this, kill that thought that when you start a business boom, you start making sales, yes it happens but not all the time. Have a specific budget for your advertisement every month, you can start with a little and scale up as you progress, marketing is a crucial part of a business, don’t leave it to chance or circumstances, a good entrepreneur must take full responsibility for the success of his business.
It may take time
No one starts a business and boom money starts following, starting and scaling a business might take time, there have been few who started a business and it boomed immediately, those few did a tremendous back job, if you want that kind of result, then you must be willing to follow all I’m writing in this article. Most business takes time to build, you must sustain the ability to remain patient during the growing phase of your business. Don’t quit too soon, most business owners quit so soon, without knowing they’re close to their breaking point. Do the right analysis, do the right market research, have a strong reason, then go to work, you will marvel at how that business will grow and scale-up.
4 Types of buyers and their percentage in the market
This is a very important aspect of this article, there are 4 types of buyers in every business venture, no matter what you are selling or the services you are offering, if you understand this alone, you will triple your sales. Each market has these four categories of buyers, we will look into each of them one by one and how they affect your market
2. Those that are aware they have a problem
This is the next big segment of your market, they are aware they have a problem, but they are not bothered yet. They haven’t realized how much of a problem they have, these represent 20% of your market, to reach out to these people you need to engage with quality content, asking open-ended questions, questions that require open answers, and get them to know how much of a problem they have, then nurture them with quality contents and take them up the ladder, they will become curious and enter into the third stage which is
3. Information gathering stage
This is the next stage on the ladder, this represents 17% of your market. They’re aware they have a problem, and now they’re surfing the internet for a possible solution. To capture this set of people, you need quality ad copy that grabs their attention, these people are already looking for information, and as a business owner you are aware there is so much information about something out there, for you to grab their attention you need to create ads that are so powerful that it grabs them by the throat and forces them to click on it. To capture these people you need to have powerful information on your landing page, and you need to have intriguing content that answers your audience’s deepest fears and worries, if you can satisfactorily answer the question they all have in mind, you will make the sale
4. Those that want to buy now
This is the smallest percentage of people in your market, and sadly these are the people every business owner goes for. They are only 3% of them, meaning that they are very small. When you join your competitors to go for these small percent of people, you may not survive it, because your competitors have an edge over your business, both in starting time, advertising budget, and goodwill in the marketplace. If you must beat the competition, you have to go for the other percentage of people, while your competitors are busy chasing after the 3%, you are busy nurturing the other percentage of people, imagine the influx of sales you will have when you do this very well. The 4 set of customers above is what comprises every market, business, product, or niche, they are found everywhere, to make huge sales, you have to convert these people into customers, and if you do it well, you will make a lot of sales and in few years, you will be ahead of your competitors.
Owning a business is the desire of many people. I started this article by telling you the things you must have in the back of your mind if you must scale your business. I mentioned to you that out of every 10 businesses, over 8 of them fail within 5 years of starting. I went ahead to discuss with you the different types of buyers in every niche and business, they are found everywhere. I wrote on how many percent they are and the best way to convert them. Don’t join your competitors to search for the 3% everyone is rushing after, build and nurture the over 97% no one is caring about, when you do it well, you will scale up very fast, and in a few years, you will beat your competitors’ hands down. Owing and scaling a business is not easy, but when done successfully it can fund all your dreams. We’ve come to the end of this article, I believe you must have found it important to read to this extent, if you do, comment your thoughts in the comment section, and don’t forget to share with friends.