To start your business, you need a dream, a plan, and a lot of hustle. To build your empire, you need to gain momentum and keep it going. But how do you do that? Keep reading to find out.
3 Business Secrets to Build Your Empire and Keep the Momentum Going
1. Launch on a Small Scale, Then Grow Bigger Geographically
With a smaller budget and audience, it doesn’t make sense for a nationwide launch for a first-time entrepreneur. There’s nothing wrong with starting small and then scaling up. Start in the major metropolitan areas, and once you have established yourself as a household name, you can begin scaling up to the larger regions (Southeast, Southwest, Northwest, Northeast), and then attack the smaller cities. Whatever you decide to do, make sure the market research is on point for your brand and product. Starting small means you won’t get too big too quickly, and you won’t have to make rash hiring decisions, and you’re able to grow your brand at a pace that is comfortable and organic.
2. Roll Your Products out by Category
If you’re a makeup brand, for example, start by launching your lipstick line. See how well it fares before you begin your foundation line, blushes, brushes, and mascaras. Once you have established yourself as a bona fide beauty aficionado, you can start brainstorm if it makes sense to expand into skincare, if you have a passion for doing so. Some verticals have endless possibilities; it just depends on where your passions lie. That being said, you are never limited to the vertical you started in. That’s the beautiful thing about entrepreneurism. Once you’ve successfully launched a business, you know what it takes, so go out and do it again!
3. Develop a How-To Guide for Business Success
Capture your best practices in one central location for easy reference for your employees. Use it to train new staff members, so everyone is on board for how to elevate your brand and business. This should also include a step-by-step guide on how your company successfully completed the initial rollout of your brand and offerings, but the secondary geographical rollouts, as well as any category product rollouts. The more detailed this guide is, the better.
What business secrets are you willing to share? Tweet me @lorenridinger.
