How to Launch White Cement 4 Business

White cement 4: Starting a small business is without a doubt a large undertaking, but it is, fortunately, something that can be attained by anybody with a good idea, a strong work ethic, and a good set of resources. Starting a business involves thinking of a business concept, writing a business plan, understanding the financial side, and finally marketing and launching.

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Setting Out the Basics

Create a business plan. A business plan helps to define what you think you need to launch your business, large or small. It summarizes the sense of your business in a single document. It also creates a map for investors, bankers, and other interested parties to use when determining how they can best help you and to help them decide whether or not your business is viable.

Write the marketing plan. Your operational plan describes how you will produce your product, and your marketing plan describes how you will sell your product. When you create your marketing plan, try to answer the question of how you will make your product known to potential customers.

  • You will want to include the type of marketing you will use. For example, will you use radio ads, social media, promotions, billboards, attend networking events, or all of the above?
  • You will also want to define your marketing message. In other words, what will you say to convince customers to choose your product? Here, you want to focus on your Unique Selling Point (also known as USP). This is the unique advantage your product has to solve your customers problem. For example, you may be lower cost, faster, or higher quality than your peers.

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Come up with a pricing model. Start by checking out your competitors. Know how much are they selling a similar product for. Can you add something to it (add value) to make yours different and hence make it a more enticing price?

Cover the financials. The financial statements translate your marketing and operational plans into numbers — profits and cash flow. They identify how much money you will need and how much you might make. Since this is the most dynamic part of your plan, and perhaps the most important for long-term stability, you should update this monthly for the first year, quarterly for the second year, and then annually after that.

  • Cover your startup costs. How are you going to finance your business initially? The bank, venture capitalists, angel investors, Small Business Administration (SBA), your own savings: these are all viable options. When you start a business, be realistic. You will probably not roll out of the gate making 100 percent of whatever you project, so you need to have enough ready reserve to fund things until you are really up and running. One of the surest roads to failure is under-capitalization.
  • What price do you intend to sell your product or service for? How much will it cost you to produce? Work out a rough estimate for net profit—factoring in fixed costs like rent, energy, employees, etc.

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Build your product or develop your service. Once you have the business all planned, financed, and have your basic level of staffing, get going. Whether that’s sitting down with the engineers and getting the software coded and tested, or getting materials sourced and shipped to your fabrication room (aka “garage”), or purchasing in bulk and marking up the price, the building process is the time during which you prepare for market. During this time, you may discover things such as:

  • Needing to tweak the ideas. Perhaps the product needs to be a different color, texture or size. Maybe your services need to be broader, narrower or more detailed. This is the time to attend to anything that crops up during your testing and development phases. You’ll know innately when something needs tweaking to make it better or to make it less like a competitor’s stale offerings.

Manage your running costs. Keep a close eye on your running costs and keep them in line with your projections. Whenever you see something spent wastefully—like electricity, phone plans, stationery, packaging—look around and estimate how much you really need, and minimize or remove the cost in every way possible. Think frugally when you start up, including renting items instead of purchasing them and using pre-paid plans for services your business needs instead of locking yourself into long-term contracts.

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Discover your inner publicist. You might truly believe in your product or service, but in order for it to be successful, everyone else must believe in it too. If you’re new to advertising and marketing or you dislike doing the sales pitch, now is the time to overcome such feelings and put on the publicist persona. You need to develop an excellent short pitch to convince people they need your product or service, one that reflects the value, purpose, and potential of what your business is offering. Write down this pitch in many ways until you find one that you feel satisfied says it all and is something you can say readily. Then practice it like crazy!

Spend time developing an excellent social media presence. This can be done well before the business is ready, increasing anticipation. Use Facebook, Google+ and Twitter, and any other social media you participate in to build excitement and spread the word. You want to build a buzz so that people will begin following your progress. (Be sure to choose business accounts for your business and keep your personal accounts separate. The messages you send should be tailored differently, depending on which account you’re sending from.)

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Launch your product or your service. When the product is all built, packaged, coded, online, and ready to sell, or when your services are fully worked out and ready to go, hold a special event to launch your business. Send out a press release, announce it to the world. Tweet it, Facebook it, let the word resound to all corners of your market—you have a new business!

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