Get Your New Business on the Path to Success Fast

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by Kevin Nunley

You can set your new business up for success from day one. Minimize your chance of failure while shortening your path to profits by choosing a good business name, creating a solid image, and staying on track with a smart marketing plan.

What's in a Name?

If you're starting a new business or launching a new product or service, it pays to think hard about what you will call it.

Names are important. You'll want a name that is easy to remember and communicates what your company or product is all about. Nothing frustrates customers more than having to guess what it is you do or sell. Confuse them and they'll likely turn their attention to someone else.

In some towns, lots of businesses feel like they have to have a cute name to succeed. You don't have to follow this trend. It's better to find a name that is easy to remember, communicates what you do, and has a positive feeling about it.

Of course, there are exceptions. Recently a few companies have been very successful by breaking the rules in extreme ways. Some new computer companies sport very complicated names that stand out.

Sharpening Your Image

A company image is simply the way customers and prospects think of you. Your company may have a great image or one that could use some work. But most companies suffer from little or no image. Most people just don't think that much about them.

When you're trying to get new customers, or get old ones to stick with you, having little or no image can be a real problem.

Here are some simple ways you can boost your image in the minds of customers and prospects:

Think about speed, service, smiling at customers (yep, in the good old USA that's a powerful image builder!), how you answer your phone, how much time you spend with the customer, logos, color, sales representatives, and sales presentations.

Look for ways that you can create an image that separates you from others.

Your Marketing Plan

If you want to waste a lot of money, try marketing without a marketing plan. It's a little like trying to drive while sleeping. You may get down the street, or wind up in the neighbors yard, but it's certain that you won't get to where you want to go.

Writing a marketing plan doesn't require any complicated software, thick books, or seminars (although there are some good ones). All you need is a
napkin and a pen.

Write down, very simply, what you hope to achieve with your marketing. Be realistic. Write down what media you'll use to market.

Describe the target prospects you'll be trying to reach. Write down the main message your marketing will communicate. Make a commitment on the percentage of your budget that you will devote to marketing. Planning leads to successful marketing.