How do you take the incredible idea you have in your head for a business and actually execute and bring it to life?
Good question. Now that I’ve been running my own business and marketing consulting firm for a few years now, I know all about the launch process and the strategies that work, but I once had this question too.
Most of the time what happens is that you’ll get very excited about the creative idea, but struggle a bit when it comes to planning and strategy. This is completely normal, and it’s one of the reasons why I encourage anybody looking to launch their business idea to reach out to a consultant or coach for customised, 1:1 support. Not only will they be able to offer expert advice, they can also tweak the approach to fit your needs. As I always like to say, there is no one-size-fits-all approach to business. Everybody launches a bit differently, and the strategies that work well for one CEO may be wrong for another.
In the meantime, I’m happy to share some of my best tips and tricks for getting your business idea off the ground. These are general starting points to help you have the best launch possible if you aren’t able to invest in outside support yet.
- If you’re new to business, do you have a business plan? This is absolutely crucial and what will make it possible for you to get everything set up correctly. A very basic business plan should include a summary of what your business is, the strategy and specific actions you plan to take to make it successful, the markets you will pursue, and your budget, though this can be more comprehensive if it suits you.
If you’re running an existing business and launching a new offer or product, do you have a marketing plan and promotional calendar? This should outline the problem your brand is solving, as well as any and all promotional activity to help you stay on track.
- Do you have a pricing strategy for your product/service? Make sure it is priced according to the market position, but also in a way that will allow you to make a profit and support the business and product/service for the long-term.
Consider who the audience you’re launching to is and how you’ll be communicating with them – i.e. email list, social media, influencer marketing, paid advertising, etc. This will vary depending on what you’re selling and how your audience likes to buy. An email list is typically the most valuable, but an engaged social media following can be very helpful too.
Make sure you build an audience BEFORE you launch. So many new business owners try to launch their first endeavour without a warm, engaged audience and then are disappointed when it doesn’t do as well as they expected. Work on building a loyal audience first through free value and strong content, then focus on your launch.
1-2 weeks before you launch your product/service, have a teaser campaign to build momentum and get your audience excited. This is when you can drop hints about what’s coming and really spark their curiosity.
You can always amplify your launch by engaging in influencer marketing and social media advertising.
One of the most important elements of marketing is social proof. Follow up your launch by requesting reviews and testimonials — even better if you can get a few on video to build that know, like, and trust factor! Many brands actually forget this step and never get feedback on their launch when in reality, this type of social proof can be hugely impactful on future launches and anything you may be selling in-between launches.
- Get support from a trusted ally or advisor if you are needing support or advice. Friends and family can be helpful, but even better is a business consultant or coach who will have the business acumen and expertise to help you make the right decisions.
I won’t lie to you and pretend that launching isn’t hard work, or that there aren’t a lot of steps to consider, but one thing I really want to drive home is that anybody can launch. With the right strategies, audience, and business idea, a successful launch is well within your reach.
Hopefully you find some of the above tips and techniques useful, but if you’re thinking you’re in need of a bit more support when it comes to your next launch, I’m here for you! One of my #1 jobs as a business and marketing consultant and business coach is to help CEOs like yourself achieve wild success when launching a new product or service. I take a results-driven approach to business that will optimise your launch process and initiate big returns, no matter if it’s your first launch or your fifteenth.
If you’re interested in hopping on a free 15 minute call to learn more about how I can help as a consultant and coach, you can do so here. You can also learn more about my offerings on my website.
In the meantime, happy launching!