by My Blooming Biz | Oct 22, 2017 | Business Ownership, Entrepreneurship, Financial Empowerment, Women Empowerment
You have worked your butt off trying to get everything ready for your BIG launch, and now it’s go time! Now, the time has finally come for you to transition into the final phase of product/service to customer/client, and you are ready. This is where advertising/marketing comes in! Advertising/marketing is the means by which you position and communicate your products and/or services in a way so that potential customers will find, want, or recognize a need for what you have to offer. The key to good advertising is identifying your potential customers and your target market. We have come up with 15 ways to get everyone buzzing about your new business, and while there are definitely more ways to do this, these will work very well for your business launch.
These 15 advertising/marketing guide will assist you in determining when, where, what, and how to advertise and market your business. Of course you do not have to use them all at once. Try using them over time, and subsequently based on the result (or non result) you get, choose the forms of advertising that work best for your business. Also, in your communications through whichever methods you choose, maintain a clear and consistent message as well as a consistent company image – branding. Here are our 15 ways to let your ideal customers know you have launched your new business and it’s time for them to perform for your bank account:
1. Word-of-Mouth
Shout it from the roof top! Word-of-mouth advertising is not going anywhere. In fact, it is one of the best advertising method for new and small businesses, because: a) it is free, b) sincere, c) believable, and d) unsolicited. Be sure the “word” is favorable by building up a good reputation. Be professional, meet deadlines, keep appointments, and do not accept more work than you can deliver. Good business practices and friendliness will enhance your business and make people want to return – in addition to referring you to others. Building a reputation takes time however, so you will need to use other forms of advertising as well.
2. Business Cards
Whip out those beautiful, presentable business cards and let it rain!
A professionally printed card is an asset to any business. Include your name, business name, address, phone number, social media links, products or services you provide, and an attractive logo – if you have one. Give cards to interested people you meet. They may not buy your product or service now, but may refer someone to you at a later time. So make an impression in that initial connection; something that they will take away and remember about you, such as “very professional”, “easy-going and sincere”, and/or “very personable.”
3. Letterhead and Envelopes
Let the communications begin! Printed letterheads used to be a must, but in today’s digital world has far less need. However, you should still have a small supply of stationery on hand; for a proposal, thank you letter, or any of many other uses. Also, you may want to send out a few letters along with your brochures to select officials who have the ability to impact your business positively, letting them know you are open for business, and welcome their feedback. Letterhead stationery is often necessary when purchasing materials and equipment from wholesalers and suppliers for your business as well. Letter heads are way more professional looking than no letterhead at all, and when done right, they can improve the perspective of your business.
4. Brochures
A brochure can be small, inexpensive, and attractive. Get advice from a printer. You may want to hire a graphic designer to help with the layout of artwork, text, and lettering. The level of sophistication in the design of your brochure is directly related to; who your customers and potential customers are, the industries they are in, and the positions your contacts hold. And although professional and polished should be the goal, it is worthless without substance, so spend time getting the text right – clearly and succinctly expressing what you do, how you do it, and why they should buy from you.
5. Direct Mail
Mailing brochures or letters to businesses or individuals is a great way to make potential customers aware of your business; especially when you’re just starting out. Periodical updates and notices throughout the year can also serve to remind them that you’re still there. Mailing can be expensive and should be weighed with the other options when you decide on your advertising campaign, but since you are a new launch, you want to use as many options as possible. Again while technology has provided other options, direct mail still hold value based on who your customers are, and how they prefer to be reached. Also, consider providing a prepaid response card in your direct mail, which would provide you with some insight as to: a) whether that customer likes to receive direct mail, b) whether they found it informative, and c) whether they have comments or suggestions. A grand idea if you can afford to, is to include a souvenir in your direct mail to them – such as a pen with your logo. This will no doubt increase your chances of getting a reply from them. So don’t discount this option in your initial launch phase. If nothing else, you could gain valuable feedback from those response cards you sent. Yes, we have technology and the good ole Internet, but there is nothing better than giving your potential customers something tangible to hold.
6. Bulletin Boards
Post professional-looking brochures, flyer’s, or business cards on public bulletin boards in restaurants, grocery stores, laundromats, apartment complexes, schools, or anywhere visible to your target market. It’s old school but still work in certain local regions. We know! We have used it and it works!
7. Newspapers
Contact local editors and tell them about your new service or product. An editor may want to do a feature story, especially about your grand opening. An article can be free advertising and may be more effective than a large, paid Ad. Be sure to thank the editor if he or she runs the story. Getting space in a newspaper may be easier if you can tie into the activities of a charitable organization, or a community activity. Include a black-and-white picture and news release.
8. Classified Ads
Placing
Ads in local newspapers and shoppers guides are appropriate for many businesses. You’d be very surprised by who still reads these, many times passing along what they have seen to family members and friends. This will cost a bit of money, but you should also have an option of 1/4 page, 1/2 page etc. instead of a full page Ad. If you are a local brick and mortar business, try to work out a cost with them so you do not have to miss out on what could be your biggest opportunity to make a huge splash – a bigger impact.
9. Portfolio
Of course if you’re just launching you would not have past projects to use for a portfolio; however, we are listing it here because it is one of the most valuable and vital tool in a business owners’ arsenal, and we want you to start building your portfolio as soon as you’ve signed up your first clients. You could also think about a giveaway, where a few customers receive a different good or service you provide in exchange for a review, and also so you’ll have that to start building your portfolio. Be sure to put some effort into building a collection of your best work. You may want to include a resume and list the advantages or special features of your business. Include those letters/reviews from satisfied customers, and be prepared to suggest those past customers as references. In addition to your website, you can also setup your portfolio on your social media sites using several different features.
10. Shows or Displays
Displaying some of your work in a public library or bank may be appropriate depending on your type of business. Along with your display, be sure to also have business cards available for people to take as well. Ensure the display is secure so you do not lose valuable merchandise.
11. Other Businesses
It is never too early to begin aligning with businesses that complement yours. Seek out to make those strategic alliances and work at advertising in their business and vice versa. Cooperative advertising usually benefits both businesses – immensely.
12. Directories
There are countless directories online to choose from, but the ones that matter most are the ones your customers use. If you don’t know, ask people who fit your ideal customer type, what their favorite search engine is, and how they find businesses they need. You may also find the top directories have a spot for the customer to review your company. Welcome it, and use the service to your advantage by asking your customers to review you. Believe it or not this will help you to trend higher on the search engines, and don’t forget to link your website to that directory page. Many times these directories will allow you to post a picture. If you don’t have a storefront then post your logo and make sure your information stays current.
13. Local Radio and Television Stations
This can be quite intimidating especially if you’re introverted and haven’t done any interviews before, but it is definitely an avenue you want to take advantage of. You can leave this for a later date, and use smaller platforms in the meantime such as Podcasts that align with your business niche. Some radio stations have local talk shows where you can be on air instead of on television – out of view, while still getting your business out there. When you are ready, call up the directors to see if they are interested in discussing your business, or a topic relative to your business industry. You can also purchase radio or television Ad time, which can prove expensive, but worth researching to know the pricing in your area – especially when it can be tied into some news feature or special event. There are many radio stations out there — especially now that there are web-based stations — so do your homework and position yourself effectively.
14. Local Organizations
Joining local organizations such as your Chamber of Commerce, provide a good opportunity to network and make valuable contacts. People like doing business with people they know! By participating in community activities, you increase the visibility of yourself, and subsequently your business. Remember, you are your business! Back then you could have a storefront with employees and no one even knowing who the business owner is – unless they do some research, and they did well! Today though, if you are not Google, Microsoft, Ford, or one of those big companies, you have to get yourself out there not just representing your business but being your business. We are in the age of Know. Like. Trust. Do business with. – in that order.
15. Networking
A network is a collection of acquaintances and business peers you depend on for information, services, support, and access. Network relationships are based on mutual and professional respect for the other’s ability to help when needed – as needed. There are many networking groups in most cities, but you will need a modest budget to attend their events to network effectively. Not every networking group is as valuable as another, so you need to do some homework to see what community is best for you. Learn as much as you can about potential customer habits, what types of events they attend. You may also want to craft a rich elevator pitch that represents your business and defines your products/services in 30 seconds or less. Also, always be on the lookout for collaborative partners where a mutually beneficial relationship can be forged to provide you both with value-added services for your respective customers. Remember that conducting research can pay-off immensely.
So there you have it! 15 ways to let your ideal customers know you have launched your new business.
Happy launching, and cheers to your business success🍷
With love, gratitude, and empowered attitude,
by My Blooming Biz | Oct 19, 2017 | Empowerment Tools, Entrepreneurship, Financial Empowerment, Women Empowerment
Having huge amounts of debt can wreak havoc on our emotions and even wreck our relationships. It can feel like eternal servitude being obligated to pay out large portions of our monthly income for pleasures we have already enjoyed, trapped as puppets in a very calculated zero-sum game of financial chess that leaves us as mere pawns on the playing field. Yes, having huge debt is serious business!
So how can we get out of debt and remain debt free? Let’s first take a look at why the majority of us get in debt in the first place.
Debt is, for the most part, accumulated by impulsive behavior. When we have those I-need-to-have-it-now moments in life that serve to balloon us out of our circumference of affordability, we often do not think about the consequences of our impulsive action, and are usually only keyed in to the pleasure we will be getting from whatever we are entering into debt for. So money in those instances to us is merely a tool in our virtually endless quest to constantly gain pleasure – at whatever cost. This uncontrollable behavior stems from deep down within our psychic apparatus – the Id, Ego, and Superego, which is the driver of the thing we call our minds. So the first thing we have to do to combat this persuasion from our psychic apparatus, is to learn to create some awareness to this interaction so as to override it.
What can be added to the happiness of a man who is in health, out of debt, and has a clear conscience? ~ Adam Smith
Here are 5 Steps for Getting Out of Debt & Staying Out of Debt
Step 1. – Analyze your Debt
The first step to getting out of debt is to make an analysis of your debt. You cannot get out of debt without first understanding how much and what kind of debt you have. We know many of you have a vague idea of what you owe and to whom; however, in order to know exactly what you are getting ready to tackle, and the options available to you, you must write down all your debt and the corresponding parties you owe. Facing debt is not an easy task! We here at MBB know how difficult it can be to face the music of your debt load, but we also know that it must be done if you are serious about ridding yourself of debt for good. Many of us weren’t always debt free! And the biggest problem most of us faced, was that we did not want to look at our debt situation. We did not want to face it! We would rather turn a blind eye, cause we’re too afraid to see just how much debt we’ve racked up. It’s frightening – we know! However, if you cannot analyze and understand your debt, then there is absolutely no way you can rid yourself of those debts and emerge debt free. An analysis must be done!
So, if you’ve not been keeping track of your debt, gather all your bills for the past 12 months and get to a table so you can start organizing and tallying the numbers. Organize your bills in date format, with the most recent on top. Now, you are ready to organize and tally your numbers. We recommend you use an accounting software such as QuickBooks, Mint, or FreshBooks to do this, or at the very least a Spreadsheet, because they make it so much easier to edit, make changes, calculate, and store in an organized way. If you do not have any of these, do not allow that to hinder your progress. Get a sheet of paper, turn it in a landscape position (or rectangular) and at the top of page, write a main heading “My Current Debt to Date – (input the date you are doing this)”. Next, create 4 columns below the main heading with 4 headings: 1) Creditor’s Name, 2) Amount Owing to Date, 3) Fixed Interest Rate 4) Average Variable Interest Rate. Use the last bill from each creditor to fill in each column and rows. Then tally the total of column 2 – Amount Owing to Date and write that figure down at bottom of column 2 below the last used row. Be sure to include and calculate all of your debts – from credit cards, to car loans, personal loans, student loans, mortgage, insurance, and everything else. Now that is what you owe to date, with the exception of the missing interest that may be accumulating on a daily basis. Each debt terms will most likely be different, likewise the interest rates – some may be fixed and some variable. Now you want to calculate the interest rate you’ve been paying per month for each variable interest debt. To do this, find the average interest by adding all the interest for each month of the creditor and dividing that total by the number of months. You want to tackle the highest-interest rate cards first, as well as the variable interest debt in order to wipe those out as quickly as possible.
Step 2. Create a Budget
A budget is telling your money where to go instead of wondering where it went. ~ Dave Ramsey
Now that you have analyzed your debt, it’s time to create a budget, or adjust the one you currently have. There is no way you’re going to pay off your debt without making some adjustment to your spending and sacrificing some things. So, in this new or newly adjusted budget you will leave those things in place that cannot be carved such as your rent/mortgage/insurance and any other fixed payments you have. Then decide on what you want to cut back on in terms of using less electric/water/gas/phone etc., and possibly spending less on cosmetics/clothing/entertainment/traveling. The one thing we recommend is that you do not cut back on the quality of foods you eat. If you usually eat out a lot, you may want to start preparing your own meals at home, but you must insist on enjoying the same quality of healthy foods so you do not compromise your health. The last thing you need as you go through this transitioning from debt trapped to debt free, is a medical bill. We here at MBB do not believe in lowering our standard of living; we believe in elevating our monetary strategies and increasing our finances to meet our standard of living instead. However, drastic times demand drastic measures, and working to get out of debt that can be so crippling, warrants this deviation.
Step 3. Bargain With Your Creditors
Call up your creditors, and seek out a bargain. Many creditors will be happy to make a deal with delinquent debtors. They will be happy to get back a portion of the monies owed to them and close out old debts, rather than lose the entire sum of money. Some creditors you just can’t bargain with, but most will welcome your call and attempt to resolve your debt situation, and be more than willing to cut your debt – astronomically.
Step 4. Set a DEBT FREE Goal
Now that you understand your debt and has bargained with your creditors, it’s time to set a debt-free goal, which means you cannot continue to keep up with the Joneses (and the Kardashians). Depending on how badly you want to get out of debt, your situation will now be different. The way you go about doing what you do in living your life, will have to change as getting out of debt takes precedence. If you are truly ready and committed to becoming debt free, then you will make the drastic changes necessary to achieve that goal. Be realistic and specific about your debt free goal. Don’t make it so drastic that you won’t have food – healthy foods, as you go through this process. If you know you are only able to put $1000 each month towards this goal, do not lay out a plan for $2000 or even $1500 per month. Put the $1000 down as what you will pay out. It may take a bit longer, but you will not feel too strapped and possibly jeopardize your health in the process. You want to come out debt free but still healthy and whole at the end of it all. Also, be specific about a deadline. Based on how much you owe and how much you can pay out each month, divide them to see how many months it will take. Keep that month as your goal deadline. Now, you may be able to pay out more some months than others, depending on your situation – if you have a side hustle or run a business – but even when you do that (and by all means do that), you want to keep the $1000 each month as your realistic amount on your paperwork. There is hardly any better feeling than completing your mission and achieving your goal way before the time you have set.
Step 5. Increase Your Income
There are so many ways to increase your income, and based on your individual situation – whether you’re working a 9-5 or running your own business – technology and the Internet make it possible and easier for anyone to uplevel their finances. If you are working a 9-5, consider using a part of your skillset to bring in money on the side. You can do this by creating a course to sell, which will bring you passive income as we so highly recommend, or you can write a book about a topic that you know a lot about that you know is in demand. You can also use any of these 7 Income streams that can truly uplevel your net worth. If you are a service business owner, you can choose to package and position your services, or an aspect of what you do in course format, so that you too can take advantage of some passive income. If you are product based, you may want to rethink your marketing strategies, and reposition your products so a wider market can access your products. If you are not using social media marketing, you may want to take a look at it, as it is one of the most effective marketing tool in today’s technologically advanced world. Increasing your income or money inflow should always be on your agenda. Money can never be too much!
BONUS TIP: Use a software to keep a record of your income and expenses. There are many free software on the market to date, such as Mint.com and Wave.com. This will give you a clear precise picture of where your money is coming from and most importantly, where it is going. This way you can analyze and cut back on your outflow – where necessary, and work at improving your money inflow. These software will allow you to see a complete snapshot of your monthly money flow, so you can quickly nip the unnecessary expenses in their bud, and work at increasing your income.
With love, gratitude, and empowered attitude,
