How To Turn Your Idea Into A Business

Everyone has a good idea for a business now and then, but how many of us act on them? Sometimes it is the simplest ideas that can ultimately be the most profitable, so if you’ve had a concept rattling around in your head for some time why not try to turn it into a reality? Many people are intimidated by the idea of starting their own business – thinking they are not ‘business people’ – but actually anyone can do it if they have the dedication and patience required to get it off the ground. Here are some of the steps to take:

Understand the Market: Every business idea will appeal to certain kind of market, so the first thing to do is to work out what kind of audience there is for your product or service? Is it something for young people? Professionals? Are you targeting certain kinds of occasions such as the wedding market? Whichever it is, once you have identified your sector you need to understand it. What do customers in this field want and expect? Is there a gap in the market for your idea to flourish, or does it need to be adapted a little to give it that competitive edge? There’s no point wading in there with a new business until you have assessed your chances for success based on market research.

Costing: Now is the time to get down to the nitty gritty, and for this you may need to take some kind of business course if figures aren’t your thing. How much will it cost to manufacture your product or provide your service? It’s no good working out general amounts – you need to be very specific and realistic about the kind of capital you will need. In addition to manufacturing, this should cover marketing and any other start-up costs. You will then need to work out a margin that will cover your costs and ensure you make a reasonable profit. This is about striking a balance between offering a competitive price and making enough money for your business to be viable.

Test It: Before you go into full production it’s important to have a few test runs to see what people think. This way you can iron out any problems or make improvements before you’ve had to invest too much money. Post videos or photos on social media to get feedback or offer free samples to a test audience. If you get enough positive responses, only then can you begin to think about manufacturing on a larger scale. Find a marketing expert to help you at this stage: they will show you how to build up interest in your business so you can really hit the ground running.

Small Beginnings: Even when you do begin to manufacture larger runs of products to sell in your shop or online, it’s always a good idea to start small. Begin by selling a few items or getting a few bookings and this will help you to build up an idea of how much turnover you can expect. If your idea really is good enough then hopefully your sales will grow as word of mouth gets out. But the last thing you want is a warehouse full of goods you can’t sell. Also, keep it simple to begin with. Don’t try to increase your product range until you’ve got the business off the ground. If you find sales are good, then it might be a good idea to start thinking about expanding your range to keep it fresh and innovative.

The Benefits Of User-Generated Content

User generated content (UGC) is a form of content marketing that is produced by the customer rather than developed and paid for by the company itself. It can come in many forms, from product reviews, guest blogs and social media posts to videos, competition entries or question-and-answer forums. It’s a great way of getting your clients to participate in a dialogue and feel ‘part’ of your brand, but there are many other reasons why it makes sense to use UGC as part of your online marketing strategy.

Here are just some of its benefits:

Cost-Effective: Firstly, one of the best things about UGC, particularly if you are a small company with a very limited marketing budget, is that it is generally completely free. After all, creating your own content can be time-consuming and costly if you are paying for copywriters so it’s great to have this supplementary option to draw on. Not all companies can afford to employ full-time copywriters to keep updating their website, but it’s essential you keep your content fresh. Why not, then, encourage customers to create some of it for you?

Building Client Trust: Customers love to feel that their voices are being heard by the companies they buy from. What better way to do this than to invite them to engage in a dialogue with you via your website. Actively encouraging them to post their questions and comments on your forums, or asking them to give feedback on your social media posts are just two ways to do this. In addition to bulking up your website content, you will find that you are much more likely to hold onto your customers if they see you and your employees as real people who listen to their views and respond to them.

Understanding Clients: By getting clients to enter competitions, complete surveys or post queries you can gain a better understanding of their priorities. Once you’ve done this you can think about ways to improve your service and product offering to really leverage every opportunity you have to win a bigger market share.

Improving SEO: The more varied your website content, the more search engine indexing and search visibility you will get for target key phrases. In short, you should look upon UGC as an essential part of your SEO strategy (and as we all know by now, every company with an online presence should have one of these). Also, since your UGC will often be linked to your social networking accounts, it’s the perfect addition to any social SEO campaign.

How To Improve Your Online Content

Today, the content that appears about your company online is your calling card. To a great extent, it is this that helps you maintain a good reputation. But if the content isn’t right it can also have quite the opposite effect, which is why you should pay a lot of attention to it. Obviously you can’t control what others write about you, but you can control what goes on your website, social media pages and so on.

If your current content doesn’t seem to be doing its job effectively, then here are some strategies you can look into:

Functionality: First and foremost, strong website content is nothing if you haven’t first made sure that it’s easy for users to locate what they’re looking for. Therefore, keep your website simple and easy to navigate without. Also, remember that more than 40 per cent of web traffic comes from mobile devices today so make sure your content can be properly viewed across all platforms.

User Generated Content: Not all your website content should be created by yourself. To make your customers really feel valued and a part of your ‘journey’ you should encourage them to contribute to your site. For example, you could encourage them to ask questions or pose problems which you can then respond to (and display your expertise at the same time). You could invite guest bloggers to write relevant articles on your site, which in turn could lead you to blog on other people’s sites.

Hire A Content Marketing Expert: If you really want to transform your online content then you should maybe think about investing some money in it. Why not hire someone who can dedicate all their time to this one task and work out a proper online strategy? After all, if you’re trying to do it all yourself you are naturally going to spread yourself a little thin and you just may not be able to get the best results. Even if you only hire someone on a temporary basis, you should begin to see a real difference.

Run Surveys: Try running monthly surveys or competitions and then posting the results. You will find this a good way to generate user-generated content. If you can, try to think of surveys that are likely to create a PR buzz – ones that, if the results go a certain way, other websites, magazines or newspapers may want to pick up on for stories. As well as publishing them on your site, you can send the results out in the form of a press release to anyone you think may want to publish them.

Tell A Story: Consumers related to a good ‘journey’, so the content of your website – your company background, how you have got where you are – should be a compelling story in itself. Try to make it unique: offer something that others don’t. But don’t overdo it with the word count – remember that it is quality that matters, not quantity. Your story will be more powerful if it is succinct and every word is weighed carefully.