In today's world, many people want to create and
start their own business. It could be something small and simple, such as a
restaurant or small retail store, or as large as an amusement park or
attraction. When it comes to business, most people just want to get everything
started and expect to see a profit, but business doesn't always turn out that
way. It may for few, depending on their product, marketing strategy, finances,
and so forth, but in all reality businesses take time to establish. When it comes
to starting a business the most important factor is marketing, in other words,
how well you can build your brand and get the word out about your company, and
your strategies to achieve your overall goals.
In today's world of business, it's become far more
complex than it has in the past, because there are far more educated
individuals who seek independence and want to "be their own boss". As
well as the job market slowly dwindling down, and the economy, which has opened
the window of opportunity for those who seek to start a business. Throughout my
years of studying business 2008-present I've learned and realized quite a bit
about business and the operation and start-up of such entities. First, after
you've already gotten your name registered, and finances raised to start your
business, comes the marketing.
For my marketing course via Full Sail University,
we were to read about John Earle, inventor of the Johnny Cupcakes clothing
brand, and his marketing strategies. What I learned from that was that if you
want to build your brand, you must and should always put the people first. The
people, be it customers, fans of a music artist, reader's of a particular
author's books, or gamers of a certain title developed by their favorite gaming
company, the foundation of every successful business, in my opinion as well as
John's, is to make the customer's feel unique. One thing that John does with
the Johnny Cupcakes brand is to develop limited edition clothes under his name.
Even if the clothes become highly popular and people still wish to buy them
after they're sold out, he stands firm and makes no more than what he initially
printed. This intertwines with the idea that people want to feel unique, by
having something that not everybody has.
Secondly, he takes tours around the U.S., and at
one point the U.K., to particular stores he has opened to speak and interact
with his customers one-on-one. This is what I feel that most businesses lack
today, especially in the music business (my area of interest). But I'll speak
more on that at a later time, in another blog. This is an excellent marketing
strategy because it allows him to interact, and receive new ideas from
customer's based on their interests in his brand and their own unique
opinions.
Lastly, he does everything on his own. He
does not sell his brand to other stores or companies, doesn't seek investors,
or look for others to help him create the basis of his business. In business
today, people often look to outside investments, but fail to realize that
anyone who "invests" in your company feels that they have a say so in
what the company does with their money. Now, not all investors are bad, and try
to run your company, but there are those that will try to alter your image, and
vision to suit their own. I wouldn't recommend seeking an investor, such as
John said in his interview, but if you do be sure you talk face to face with
that person and lay out some guidelines, in a contract, that specifically
states your agreement on what is done with the money in your company.
If you wish to start a business of your own, these
are great marketing strategies to get you started and to get your foundation
established, in reference to marketing. There are a million possibilities out
there, but those who have a better chance of success, follow certain
guidelines, a few of which I've outlined above, think about it. Without
customers, fans, readers, etc., where would any business be? The old saying may
seem broad, but in all simplicity "heads the nail on the head", by
stating the obvious and most unrealized concept that "the customer is
always right", because when it boils down to it, their opinion matters
most in your success. Now, just as a note, so that I may not be viewed as biased
and such, one customer's opinion doesn't mean your business is a failure or
success, you have to identify the majority customers opinions and build your
brand based on it. For example, an artist posts their new video on YouTube, and
they have 10,000 likes and 500 dislikes, does this mean the song is a failure,
no, it only means that their are people that dislike it, but the majority does
like it, so according to numbers you're song is still a success.
As always thank you for reading, until next time
William Dodd
