This is a quick list of tips for anyone who is thinking about launching a startup business.
(A quick definition: a startup is a new business that is designed to scale, i.e. grow beyond the founder, hire employees, and hopefully get really big).
(And now a sobering stat: Within 3 years, 92% of startups fail).
Let’s say you’ve got your idea, you’ve got your business plan, you’ve sorted your financial backers… Now, you need to hit the ground running because you’ve got a limited amount of time to test your idea against the market before the money runs or your investors get cold feet (how much time depends on how much funding you can secure, and how long you can stick at it!). At Mogul, we know that you need to get maximum results as quickly as possible.
- To tell a compelling story to investors and potential customers, you need a brand. We’ll work with you to ensure that you’ve got the brand basics nailed down and clean for the initial launch, with room to expand your brand collateral once your idea has legs.
- A startup nearly always needs a web presence, and a website is a crucial starting point. What you don’t need, however, are all the bells and whistles straight away. To start with, a simple but cleverly designed website with a clear call to action – e.g. purchasing a product, registering interest, or getting in touch is all you need.
When you start with a WordPress site, you’ll be able to scale up and add in more advanced functions once your idea has proven itself, without getting bogged down from the get go.
- To get your name out there and into peoples’ minds, Google Ads campaigns are a great way to target people who have the problems that your idea will solve. Using your business plan, we’ll be able to measure the results and tweak the campaigns accordingly to be sure you’re showing up where you need to and not where you don’t!
What if you’ve got the idea and the inspiration, but you’re finding it difficult to know where to start? If so, you need a business plan and market validation. Mogul can help you with that too.
The first, and most crucial step in launching any new offering is to check in with your intended market;
- Who is your ideal customer?
- What are their pain points?
- What can you offer to meet those needs?
- How much would they be willing to pay for it?
- Why would they choose your offering?
You have a much greater chance at success if you launch a product that meets the market’s needs rather than trying to convince people that they want what you’re offering.
With a market and need established, you’ll need a business plan for launch. Together we’ll work out;
- Who do you need to get in front of?
- How are you going to entice new clients?
- Who is going to do what?
- What does success look like?
Without a plan, it’s hard to measure the success or failure of a new startup. Understanding these metrics before starting the launch process is key.
Actions speak louder than words, and we have worked closely with dozens of startups over the last 12 years (it kind of goes with the territory of being a digital marketing company).
- The Stream Shop
- Boma Marketing
- The Rugby Site
- Notion Fashion
- Live Longer
- The BAP
For further reading on getting the foundations right, see our blogs: