Day by day we've learned about business and marketing strategy to generate sales from it.
Creating a great product and presenting it in the nicest way
Create an eye-catching Instagram company profile, Facebook page, and stunning website with advanced e-commerce features to captivate people' attention.
That was all front-end work; what about the back-end? Stock management, supplier, marketing planning, advertisement, customer feedback and more.
Here we listed some advice just for you:
- Manage Cashflow
- Start with Small Quantity
- Spend on Marketing
- Use All Free Online Platform
- Learn From Your Customers
- Start Doing It!
- Don't Get Too Comfortable
Small things matter when it comes to your business money management. Make sure to record every transaction you made for your business even your fuel, touch n go, and else.
This is to make sure you become disciplined and never combine your own money with business expenses.
Start with Small Quantity
I understand purchasing a large quantity amount of stock will lower the price per item, but it doesn't mean you should order a product on mass order quantity (MOQ).
As you begin your business, you can reserve some money for other vital expenses; remember, a business is much more than just selling a product; it also includes expenses such as marketing. Graphic design, video editing, product packaging, and advertising are just a few examples.
Spend on Marketing
All business owners have a mindset to maximise profit while reducing the cost as much as possible. When it comes to marketing specifically on advertising, they will likely have fear from spending on it.
They are afraid the marketing campaign will not work and will not be generating sales.
This perception is completely wrong, the only way for you to know if this kind of marketing campaign will work or not is by try and error. You need to be clear what your objective campaign to make sure you will be satisfied with the result.
Use All Free Online Platform
Have you tried all social media platforms like Facebook, Instagram, Twitter, TikTok, or any famous online platform in your country? For example in Malaysia, small business owners use Shopee as their e-commerce platform. If not, you should register a business account and start using those platforms. The best part is it is completely free!
By utilising these platforms your products/services will easily be searchable anywhere across social media.
Learn From Your Customers
As you grow your business, feedback from your customer who already buys and uses your products is crucial.
They're the ones who will promote the products on their social media account. It's important to understand what customers want from your products. Because they only buy if it is beneficial for them.
Start Doing It!
You already know the theory about how to start doing business, what you should and shouldn't do as business owners, you know how important to have a good presentation of the product, you need to take care of your followers and more.
But the question have you already started doing it? If not, you should! The only way to know if the theory is correct or not, and what method is suitable for your business, is by starting to apply the knowledge that you get from your mentor or ebook or seminar that you attend. It is such waste you spend hundreds of Ringgit but did not come out with the result.
Don't Get Too Comfortable
Let's say you already get your first 4-5 figures of sales this month. How about next month? or next year? Will it be the same 4-5 figures? Ask yourself, what you need to do to maintain that number, what you need to improvise to increase that number.
The same strategy of marketing campaign maybe will not work for the second time, so you should come out with a new strategy and plan to funnel your database.