MODULE 9: Planning a Successful Business Launch

9.1. Planning a successful business launch

9.2. Time management and delegation

9.3. Personal development

9.4. Building your business network

9.1. Planning a successful business launch

A good launch that creates impact among your audience can get your business off to a great

start. A successful launch, though, is much more than an event or a date. It's actually the

culmination of many months of thinking, preparation and action. Putting a deadline in place

for the official start of your business is very useful so you can plan around it, have a focus to

work towards and use to create a sense of anticipation and excitement among your target

audience. But building your business can be under way long before this date.

Think about huge brands that have products which are known worldwide, like Apple and Nike.

The awareness and anticipation they build before a new product launch can gain such

momentum that the media cover the story well in advance and people scramble to be the first

to have it. No small business will have the resources and influence of a multinational

company, but you can learn from their approach.

Use all the traditional methods you can to let people know your business is preparing to open.

Spread the word to everyone you know - friends and family, neighbors, present or former

colleagues, network contacts, suppliers and any other contacts you've made while

researching and setting up your idea. If you're starting from dedicated premises, use signage

as early as possible to announce your opening ahead of time.

The big advantage of digital media is how much power it gives you to do your own marketing

and PR. Use every opportunity you can to direct potential customers to your website and

Facebook page. Keep them lively and active and post plenty relevant news and related items.

Give free information - it builds credibility and lets people feel what it's like to use your

business.

Build a twitter following by engaging in conversations that bear some relationship to you and

your business and attracting followers. Start conversations that get you noticed but keep them

respectful and don't boast or focus too much on yourself.

Use Pinterest to create a collage of images that can build anticipation - like a close up of the

latest eye shadow color palette, you shopping for décor materials, a wedding venue, a dog

being groomed or attention grabbing nail art. Post clips of video to Vine, like receiving your

deliveries - you can leave people wondering 'what's in the boxes?!'. Short snatches into your

new world will create anticipation and leave followers wanting to see more.

As well as showing the features of your service or product, show the benefits - the end results.

How will your customers' lives will be better after using your business? Use, for example, a

before and after picture of a very dirty dog who's now a glam pooch, a bride and groom

beaming at their wedding venue, a fashion model with eye catching make up or a stunning

piece of craftwork. Get creative. There's an endless capacity to post alluring content. If you

pay for online advertising, use tools to judge what works best and improve your reach, like

Google analytics or Facebook's Page Insights and Custom audiences & lookalike audiences.

Do you know any other businesses whose customers might also be interested in yours? Ask

them if they would be willing to send out a message to their list of customers and you can do

the same for them. Your local vet could announce the launch of your dog grooming business.

A dress hire outlet could promote your professional make up or nail artist business. A venue

you intend to book for events and weddings

could mention your Event or Wedding

planner business in their newsletter. A school

might let its parent body know you'll be

running craft classes for children. Always

offer an incentive that keeps this

relationship a mutually beneficial one so

it's an ongoing marketing tool. Promote

these businesses among your customers

and tell them to mention you sent them.

Immediately before your launch, plan a special offer, discount or other added benefit to being

present or engaging with your business in some way on this particular day.

This is a great way of building your mailing list, creating further business and spreading the

word. You could offer a special price for any appointments booked during the next three

months. Give a voucher to attendees to pass on to others.

If your business is visible to the public (not just online), make full use of décor to advertise

your launch with balloons, banners or gimmicks that suit your service.

9.2. Time management and delegation

As the owner of a small business you will probably be very busy most of the time. All the

responsibility for the business rests on your shoulders - the day to day running, the longer-

term planning, the sales, marketing and growth need to be driven by you. For the good of

your business, to relieve stress and so you also have some quality time for yourself, sensible

time management is essential. Without it you could get lost in a directionless and endless

cycle of chasing your tail and running to stand still. Planning helps make sure the long hours

you dedicate are productive and bring the rewards you want - the reason you started your

business in the first place.

Here are a few tips:

1. Prioritize. Start with the big picture. It's easy to get sucked into the day to day tasks which

are relentless and could absorb all your time if you let them. It's vital to step back and take a

wider view. Use your business plan to plot your goals for the year ahead. Plan around the

events and actions you need to put in your diary to keep a focus on where you're going.

Review this at the beginning of each month and plan in more detail what you can do to further

your business growth. Assess what you've been doing. What's productive and what should

you change or drop? There's a well-known theory that 20% of your

products/services/customers provide you with 80% of your sales. Recognize where your time

gives a rewarding return and minimize effort on what doesn't.

2. Make 'to do' lists every day. A good time to do this is at the end of the day and/or the

beginning of the next. When you're very busy and juggling many different roles, it's easy to

forget some of what needs to be done. Prioritize again - put the most important tasks at the

top and do these first. If you have employees, encourage them to do the same. Crossing off

things you've achieved gives great satisfaction,

peace of mind and a confidence that you're in control. Set a time limit for when you deal with

calls, emails and ordering so it doesn't expand and fill half your day. If you tend to be a

perfectionist, let go a little. Sometimes it matters to have something done perfectly,

sometimes it's a waste of valuable time and getting it done quickly is more important.

3. Many entrepreneurs develop a habit of being at their desks for one particular day each

week to keep on top of the organisational side of business. Monday is a good choice - it gets

your week off to a good start. You can plan the other days well and people you deal with

know you're usually available then. Record keeping can also be done in this time, saving you

lots of headaches when it comes to tax return time.

4. Delegate and outsource. At the beginning you'll be keeping a very close eye on all costs

and expenditure and this is necessary. Also recognize, though, when doing everything

yourself can be counterproductive. It's sometimes better in the long run if you pay an expert

to do something that would take up an unreasonable length of your time when you might miss

opportunities to take appointments and make sales. If you have an employee, try not to micro

manage all their work. Be clear on the amount or responsibility you encourage him/her to

take without consulting you and also the important things you want referred to you. Then, let

go and trust that he/she will do a good job, even if it's different that how you'd do it. Most

employees hate being watched too closely - they feel nervous or irritated and do a better job

if left alone. If you chose her for the job, she is probably more than capable. Your place is to

be the face of your business. Clients respond much better, buy more and book more

appointments when they have the owner's attention.

5. Take time off. With so much to be done and only you are taking the responsibility, it can

be tempting to keep working long hours on an ongoing basis. This will be counterproductive

before long. People who take breaks are more effective when they are working than those

who don't take enough. Your brain and your body are not designed to keep going nonstop.

For your own well-being and the good of your business, regularly take quality time with your

family and have fun with friends. Don't let your work force you to skip meals. Eat well and

stay well.

9.3. Personal development

The reality for most entrepreneurs is that they spend more time working at their businesses

than they do with family. You could say it's the biggest relationship in your life. A personally

owned business is a reflection and an extension of its owner. To the outside world, you and

your business are one and the same. The stronger and better a person you are, the stronger

and better your business will be.

Recognize when things don't feel right

It's very likely that the reason you're about to start your own business is because where you

are now doesn't feel right for you. Personal reward and fulfillment are central to being

happy in your work and you're prepared to make sacrifices and work hard to shape

your own future.

You may be choosing to build a business around a skill or interest you already have and it's

probably easy to identify what additional skills you need to train in - social media expertise,

cash flow analysis or perhaps marketing. What's less obvious, though, is how you could

benefit from developing skills to deal with pressure and stress.

Find your ways to manage stress

This course opened with the idea that the mark of a true entrepreneur is not his successes

but the ability to recover from knocks. Dealing with the myriad of functions you'll be

responsible for will keep you very busy.

The planning, overseeing, day to day running and especially the unforeseen setbacks can be

relentless and take their toll on anyone. The more you can support yourself, the more you'll

be able to achieve your goals and ambitions. Finding ways to manage stress is a must. If it

overwhelms you it's difficult to feel calm enough to function well and make good decisions.

Recognize early on what functions and skills you do well and effortlessly yourself and

when it's worth it to pay someone else to do what would take you too long or you would

not do well.

Close relationships with a spouse or other family members that you can share tough times

with is a huge plus.

Having a mentor who shares and understands what you're going through and can give

good advice as well as practical guidance is another really beneficial form of support.

Regular exercise, meditation and yoga are also excellent ways of balancing a stressful

working day.

9.4. Building your business network

Despite recent economic crises, form the point of view of tools you can use to get the word

out about your business, there has never been a better time. The opportunities for business

networking are endless, both face to face and online.

For startup businesses, the traditional tools of advertising and PR can be expensive. Mostly

they're not interactive - they give a one way message from you to, hopefully, a relevant target

audience and you may not be able to measure the effectiveness and record tangible results.

The benefits of face to face networking are many. You form two-way, mutually beneficial,

interactive and human relationships in a setting where everyone's agenda is to help grow

theirs and their contacts' businesses. It's a very inexpensive way to promote and grow your

business.

Face to face networking

As you're planning your business, ask anyone you know in business about what groups and

events happen in your area. In every local community there are now lots of opportunities to

join free groups of networkers.

Some are general, some focused on particular sectors or themes. More established

companies often from groups with contacts they know will be of mutual value in marketing.

There are professional networking organisations who charge a yearly fee and have focused

sales targets and expectations - as well as gaining from referrals to your business you're

expected to drive a certain amount of business to your fellow members. Check all the terms

and conditions of joining before handing over a fee - they don't suit everyone.

Be prepared before you start to network

If you're starting a one-person business, it can be isolating spending a lot of time working on

your own. Many new entrepreneurs miss the interaction with colleagues. The challenge of

building credibility and a list of customers when you don't have a track record can also be

daunting. You probably don't have a budget for a high profile advertising or promotional

campaign. Networking is a wonderful solution to these issues. It gives you the chance to

engage in a busy, focused environment, come across opportunities you might not otherwise

be aware of and promote your business to people who will not only do business with you but

refer you to their contact list.

Here are some tips on getting the most out of networking:

Include in your business plan a commitment and regular time slots in your diary to attend

network meetings and events - weekly, if possible, in the early stages of your

business. Make sure you're attending where it will benefit your business - check

membership or attendee lists and pick out who you'd like to meet or be introduced to.

Fine tune your self-promotion skills. You'll get better at this by putting it into action, but

before you start, prepare and practice your 20 second pitch and your 2 minute

presentation that concisely describes your business in a way that grabs your audience.

Instead of listing in general what your business does, it can have more impact to focus

on a particular product or service. Make it more about the benefit to your customer than

the fabulous features.

For example, instead of saying "I use the latest equipment…" tell them how much their

lives will benefit from your service. "Your dog will be so clean and shiny you can take

him to bed with you." Clearly differentiate your business from others like yours and speak

with enthusiasm, excitement and conviction. Be innovative in how you come across and

memorable in the right way. Mention real customers and successful deals.

Bring plenty good quality business cards/brochures. Don't try to meet everyone and

spread them like confetti with little engagement; choose to people who you think might

be in a business/area useful to you and build a relationship. There will be other meetings

for more introductions.

Networking comes naturally to some, others feel less confident. The more you practice,

the more comfortably you'll present yourself. Push yourself beyond your comfort zone.

You have a lot to gain. Allow others to talk first; it gives you a chance to gather your

thoughts and pitch your business confidently.

As well as expecting what you want to gain, be prepared to be helpful and generous; it

can only boost your reputation as a genuine, positive and proactive person to do

business with. Give away free information. Mention things you found helpful in setting

up or running your business. Refer other businesses you got a good service from. Your

generosity will come back to you.

Be attentive every time you speak to someone. Put away your phone and focus politely.

Even if she may never use your business, she may know someone who will. Follow up

all your conversations with an email or phone call whenever you've made a commitment,

discussed a possible deal or promised anything, especially with a valuable contact.

Don't wait for him to contact you, stay on his radar. This is really important for your

reputation. (But don't be annoying or send repeated uninvited communication.)

Don't be afraid to chat with competitors. You may be able to share useful tips or skills

and the chances are you'll have a slightly different focus. You might market yourselves

together in a 'go to' area for your niche.

Avoid spending much time talking about general weather/sporting/news topics. Make

your conversations useful and focused. If it's clear the person you're conversing with is

a time waster or won't be of help, politely move on.

Lastly, it's an old but true saying - people do business with people they like. Be likable!

Further boost your business network using social media

The giant leap in networking has come through the use of online resources. If you combine

face to face networking with activity on sites like Facebook, Twitter, LinkedIn and Pinterest

you have a powerful set of tools to stay connected to people you know, strengthen

relationships and loyalty and ignite new connections all the time with potential

customers. Engage on platforms that your audience is likely to be on and use your website

to interconnect your online activity. Setting up a presence on social media is an invitation to

consumers to engage with you so be prepared to be responsive. Take any opportunities you

can to direct people there without being too pushy or annoying. Use tools to monitor your

activity and results. What really matters is turning 'likes' and 'follows' into tangible

engagement and sales.

If you're tempted to pay for advertising on social media do plenty investigation first - it can

give a good return for large companies but may not be a wise investment for small

businesses.

Facebook

Nearly everyone now searches for what they want online before making a move towards a

purchase. As well as your website, consumers will expect to see your Facebook business

page to get a closer look at who you are and what you're about. With over a billion active

users, it's by far the biggest social networking platform there is.

Use an attractive cover photo that represents you and include your logo as your primary

photo. Post lots of relevant, interesting content that visitors will be likely to 'like'. Use photos,

video clips, articles and promotions to create a lively feel. Short, visual posts have the most

impact. Facebook admin tools like 'Page Insights' and 'Build Audience' can give you

information on the patterns of visitors and how to increase your following. Post about twice a

week, be friendly, conversational and polite and respond promptly to private messages and

comments.

LinkedIn

Most online networking tools are free and very effective. Create your profile on LinkedIn. As

well as the chance to show your collection of qualifications, skills, talents and experience,

you can network with people that fit the profile of customer you're looking for.

You can also invite endorsements from former colleagues. By searching for groups

connected to your idea you can participate in conversations, answer questions, offer tips and

share common information. Or you could create your own group. It's not so much a space to

look for sales as to build connections that may be helpful and show yourself as a trustworthy

and reliable business owner who does great quality work. You can follow others whose

profiles you like and if you get an appropriate chance to build a relationship, request a

connection.

Twitter

Twitter has taken over as one of the single best ways to generate new business online. It

gives you an unprecedented opportunity to build relationships with individuals who may be

interested in what you have to offer. Before you can expect any relationship to turn into a

sale, though, you must create trust and credibility without looking like you're really trying.

Initially, everyone is a stranger - you're starting from a blank canvas. Everything you say and

post builds your persona. You can search for conversations that may be relevant to you and

join in. Ask questions, answer questions, solve problems. Let others know you're open to

accommodating their interest and following up by phone or email. You can attract new

followers by sharing interesting things customers would be interested in, like new innovations

you learned at a trade show, insights you picked up at a conference or pictures of great

products you carry. These can all be shared live, adding to the excitement. You can also blog

about these on your website. By using official hashtags from large events in your tweets you

can be included in larger conversations and seen by a big group of non-followers. Posting

content that gets you noticed in the right way is the trick. Pay particular attention to those who

follow your conversation, comment or retweet your information and connect when it feels

appropriate so you can develop the relationship further.

Statistics show that people are much more likely to do business with those they have some

kind of relationship with than those they don't.

Pinterest

As visuals have the potential for huge impact and are powerful ways to inspire consumer

engagement, Pinterest has a unique advantage in social media. If your business has an

attractive visual appeal this is one you should explore. You can create a collage of pictures

that give ideas, show new ways of using your products or services and showcase stunning

finished effects.

There are many more social media sites that are specific to particular industries, sectors and

interests. Browse and experiment to see which ones could benefit you.