Running a small business is by no means an easy venture. No matter what kind of business you’re setting up, no matter what you’re selling, no matter who you’re selling to, the market you’re entering is bound to be saturated. Countless people are operating with limited resources and unless you have a completely innovative product, you’re going to find yourself up against a number of competitors. Even if you have a completely innovative product, competitors will mimic your ideas and establish themselves not too far down the line. So, you’re going to have to really focus on helping your business to stand out from the crowd. There are all sorts of areas you’re going to need to invest in in order to keep things up and running and to gain market dominance, establishing yourself as a serious name in your field. So, to help you get started in the right direction, here are a few investments you should seriously consider making in order to achieve this!
This may sound like an odd investment to make, especially early on with your startup. But it really is one of the first investments that you should make. Once you’ve come up with your brand name, brand logo, brand slogan and anything else that defines your brand and helps it to stand out from the crowd, it’s absolutely essential that you invest in copyright. This will protect your intellectual property and ensure that others can’t profit from your work and ideas. If someone does mimic your brand or products, you can then send an official cease and desist notice. If they continue, you can begin legal processes for compensation.
If you’ve got your brand name, you should also invest in the official domain name for it as soon as possible. This will take it off the market and ensure nobody else can swoop it up. Having a domain name for your brand that matches your brand name will help customers to find you more easily and will also make sure people feel secure when they’re shopping with you online.
Every business should have business cards. Many people feel that they are a thing of the past, but they really are a valuable asset. After all, you never know when you might bump into your next big partner, client, collaboration or repeat customer. Having a business card handy will make sure that you can give them your contact details and stay in the back of their mind as and when they need your services. Writing contact information on a scrap of paper can come across as unprofessional and is likely to get lost. Business cards are specifically designed to fit in wallet or purses and can be pulled out time and time again. Make sure to have your business cards professionally printed by professional Printers for a quality finish. You may also want to work with a graphic designer to come up with the perfect design. It’s a good idea to keep things simple and minimalistic to make information accessible. Use your branded colours for brand consistency. You should also make sure to include the essentials like your name, contact number and contact email address.
If you’re running a business that sells products, you’re going to have to make those products. This is where the manufacturing process comes into play. Put simply, manufacturing is just the process of transforming raw or basic materials into a final product that can be safely sold to consumers. You will start with a thorough product design and then a manufacturer will make it a reality, bringing it to life. Manufacturing processes can vary drastically depending on the type of product you’re looking to create. However, common processes that are employed by businesses tend to include treating, heating, shaping and reshaping materials. It’s a good idea to ensure that your manufacturing process finishes with quality assurance checks on final products too. Now, when you first start out in business, it’s highly likely that outsourcing your manufacturing process is the best option for you. This means you don’t have to invest in costly equipment and you are also free to completely change your business’ products and direction with minimal losses if your products don’t sell well. However, as time goes on, if you find that there is a steady market for your products, you could actually benefit from investing in manufacturing equipment. This cuts costs, as you won’t have a third party manufacturer taking a cut as profits.
Nowadays, so many business owners feel that they can take product photos themselves. Thjis is relatively understandable. Product photography can seem like a non essential investment when the camera quality on standard smartphones is so good recently. But when it comes down to it, product photographs need to be the best quality possible to show its products in the best light, let customers see different angles and style the products with lifestyle shots. A professional product photographer will have the best quality equipment and the creative touch necessary to really show your products off in their best light.
Another area that people tend to assume they can take into their own hands is website copy. Put simply, website copy is any written content on your site. It can include product descriptions, landing page copy, carousel copy, blogs, social media posts and more. Sure, you could probably write something yourself. But if you really want to establish a brand tone and sell your products, it’s best to collaborate with a professional copywriter. They’ll be able to get everything spot on every time!
These are a few varied ideas of investments that your small business should be making. As you can see, there are all sorts of areas to focus on. But the options listed above could really help you out and prove more than worth the investment. Bear them in mind!