5 pieces of advice for a start-up business in 2020
If you've been harbouring a great idea for the last few months, here are some tips to starting a brand new business in 2020:
Get online, fast
Online was already pretty much everything pre-pandemic. You only have to look at the declining high street to see the impact that has had. But for new businesses, it does mean that a strong online presence is critical. Your website really is your shop window, and the sooner you get your new site up and running, the faster you can start crawling as a new brand.
Start building a social audience, even before you launch
Even the most traditional B2B firms gain benefit from a good social audience these days. It's a controlled PR mouthpiece for the brand, or a critical selling channel depending on your sector. And you don't have to wait until your payment gateway is installed or CRM set-up before marketing on social media. Start building your audiences in advance so you have interested clients/customers to talk to as soon as you're ready.
Create early trust signals
This can be tricky for a shiny new business, but customers are unlikely to trust you above another firm if they can't see that they can trust you. Building trust signals is a way to negate this issue. It could be a PR campaign talking about your launch, it could be asking staff and previous contacts to leave a positive review on Google or Trustpilot. Anything so that when a potential client Google's your brand name, they don't just find your website and Companies House listing. They see press coverage, 5-star ratings and positive feedback too.
Appoint an accountancy firm early on
Most people when setting up a business are more consumed by logos and websites, as well as chasing those early clients and customers, than starting to build a relationship with an accountancy firm. But it would be a mistake to leave this until the last minute. A great local accountant can offer advice on how to set up your business, advise and remind you on key accounting dates and help set-up and run payroll for your new employees too. Think of it as an outsourced admin and back-office department. They will take care of all the stuff that businesses need taking care of whilst you can crack on with building your brand.
For new brands, a quickfire way to accelerate growth, brand awareness and traffic is to buddy up with a partner brand - usually in a shoulder niche. This can be for a joint promotion or getting listed on their website. You could also gain access to their list of influencers for retail brands, or piggyback off their larger social following and email databases for B2B firms.
This is a cost-effective approach to hacking your way to growth, particularly on a potentially limited budget.