Business Plan, 6 pages (1400 words)

A business strategy for startup businesses

Every year, more than 100 million startups are formed across the world, which is surprising, given the fact that 90 percent of them eventually fail to sustain in the market. Perhaps, it is the zeal to create their own identity in the world is what drives all entrepreneurs to build their own startup from scratch even after all the discouraging statistics.However, only zeal is not enough to make a business successful in the market. One needs a solid business strategy to rule the market like a boss. If you are planning to form your own startup, you need a few effective strategies to drive your business towards success.

  1. Take your business online:It is hard to imagine a startup that has no online presence. In fact, the majority of startup businesses are beginning their operations by targeting the consumers online. If your business doesn’t have a prominent presence on the internet, it is time to level up your game and optimize your online presence. First of all, create a remarkable website for your business. There are a number of places from where you can buy your website’s domain name. Hire a team of proficient web designers who can develop an impressive website for you. The appearance of your website has a lot to do with your company’s brand image. So, if the website looks dull, converting the leads into loyal customers is going to be one hell of a task.Setting up the website is just the first step towards having a larger online presence. To make sure your brand catches the attention of your target audience, you need to publish regular content and optimize it for better SEO rankings. This brings us to the next effective strategy for your startup, i.e. content marketing.
  2. Invest in content marketing:If you want your startup business to soar high from the year one, content marketing is where you should be paying the most of your attention. 9 out of 10 people are now investing in digital marketing, and why won’t they? Content marketing has delivered great results for the businesses over the years, and now that everyone is doing business online, effective content marketing is one of the smartest ways to sustain in this competitive environment.With the availability of advanced mobile devices and better connectivity, the number of internet users is rising rapidly. So if you can generate some useful content on a regular basis, you can engage those internet users, and then convert them into leads. Blogs, articles and infographics are great at introducing your brand to newer audiences. So, create a separate section on your website where you can deliver flawless content on a frequent basis. There are a number of sites like MyAssignmenthelp.com where you can get your content edited and proofread on a regular basis.Videos are also gaining massive popularity among the internet users, as Smartphone with a bigger screen has improved the video watching experience quite significantly. Even though there is no secret recipe for a viral video, it has been noticed that the videos no longer require advanced equipment to appeal to people. Most videos that go viral on the internet are usually recorded in mobile cameras. The choice of content, however, is the key.
  3. Complement the content with Search Engine Optimization:An effective content marketing strategy needs to be complemented with proper SEO activities. Search engine optimization or SEO, as you may know, allows the content on your website to appear higher in the search rankings. As you may realize, posting quality content won’t be able to fetch results if your target audience never finds it on the internet. SEO activities improve your chance of appearing in the first few SERPs (search engine result pages), making it easier for the audience to find you.Keyword research is essential to search engine optimization. Since a proper use of keywords in the content offers better mileage to the post, content marketers rely greatly on the keyword usage. However, keywords alone cannot make a post rank higher in SERP. Search engines like Google are now considering the user’s intent behind a search query, and that is why, a piece of content that is rich in keywords and covers the user intent gets higher rank in SERP.There are multiple elements that influence the ranking of your webpage content. If you don’t have much idea about content marketing or SEO, you can hire a team of professionals to prepare an effective strategy for your web content. The professionals know how to optimize the content for mobile browsers, which content should go where, what topic would drive more traffic and loads of other things. If you can’t afford a content marketing team right now, you can learn it yourself. HubSpot Academy has a number of courses that can be insightful.
  4. Engage more audience through social media marketing:We all are familiar with the reach of social media platforms like Facebook and Twitter. But did you know that these social media networks could help your business grow? Well, social media marketing has now become an essential part of digital marketing, and for startups, it is perhaps the most convenient way to boost your brand image. Since budget is a huge concern for the startups all over the world, a cost-effective strategy like social media marketing is a great option to improve brand awareness, increase the quality of sales, create a loyal fanbase and engage new leads with limited resources. However, you need to perform a little research to learn which platform complements your product or services the best.Images, infographics and videos do great on the major social media platforms like Facebook and Instagram. However, if the majority of your target audiences are found on Twitter, you may need to focus more on the short and crispy text-based content to engage the people on the app. Similarly, if your target audiences are more active on Instagram and Pinterest, you should be focusing on the visual content.One of the best things about social media marketing is that it allows you to interact with the common audience. Here, you can converse with the individuals and receive their feedback on the work you are doing. You can engage the audience more effectively through social media marketing.
  5. Diversify your products and services:All those marketing strategies can be quite effective in building your brand and improving the sales. But after a certain point, you need to make some changes in your strategies to broaden the market and engage a larger crowd. Diversifying your products or services can be an amazing move if your startup has attained the initial goal of sustaining in the market.As you may realize, you cannot widen your customer base if you keep offering the same range of products and services in the same markets for years. Diversifying the products and services, will open up new avenues for your business and allow you to appeal to a larger audience as well as a broader market.Such strategies may require a large amount of capital, but since you don’t have the uncertainty like a year one startup at the point of diversification, you may be able to pull this one off. It is recommended that you evaluate all the possibilities before taking the decision because this can either take your startup to a whole new level or ruin everything that you earned with your years of hardwork. The risk will always be there, but for all kinds of startups, it becomes necessary to pivot the operations after a certain stage.
  6. Expand your business:Diversifying the products and services, as you may realize, is just one way to expand your business. There are a few other strategies that you can implement if you want your startup business to grow. However, to expand the business, you need to ensure that you are in the position to strategize an expansion. If you are already having trouble running your operations, spending money on expanding may not be the ideal way to deal with the problem.If your business is running smoothly and you feel it’s time to expand, you can consider a few other options besides the diversification of products and services. The best way to broaden your market is by opening another branch at a different location. Say for example, if your business serves the people in Sydney, Australia, opening a new branch in Chicago, the US may allow you to serve a newer market.You can even consider franchising. It means you will sell the essence of your business to interested buyers who will operate the business on their own outlets, based on your business formula. This is a great way to make a decent capital while expanding your business.There are plenty of strategies to explore when you are running a startup business.
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