3 ways to ensure your start up stands out from the competition
Are you entering a market where you know you’re going to face stiff competition? Do you want to make your mark but you’re not sure how to stand out? Don’t panic! All businesses face the challenge of setting themselves apart from others at some point or other; the test is in how you face the challenge, how you grow, and what you gain from the experience.
When competitors are loading the pressure on you, do you know how to rise above the crowd and end up on top? Here’s our tips on how to ensure you make a lasting impression and become known for all the right reasons whether you’re new to the scene or just being crowded out of the market:
Make sure you have enough starting capital
Most businesses fail because of a lack of start up finance. If you are genuinely focused on the success of your business, you will do anything to hit that goal. So if your starting capital isn’t enough to allow you to make the kind of impact on the the market that you want, don’t hesitate in getting financial assistance. Apply for business finance and use it wisely. Some of the best ways you can invest start up loans are;
- Effective marketing
- Market research
- Buying equipment
- Investing in a top team
- IT investment
Try guerrilla marketing
Thanks to new technology and revolutionary new thinking, the way companies communicate with and attract potential clients has undergone some big changes and these changes have completely altered the way business marketing is done now. It is pretty much unrecognisable from how it looked even a couple of decades ago.
Among some of the new techniques which have separated those companies with innovative ideas from the rest, one of the most successful and interesting is guerrilla marketing. Guerilla marketing is a brilliant alternative to traditional marketing, particularly if you don’t have a huge marketing budget. Instead, companies use creativity and imagination to come up with small-scale but highly impactful, ingenius advertising ideas. It could be a cleverly placed piece of graffiti, an adaptation of an existing tourist attraction to promote your product, or even ‘reverse graffiti’ where dirty public walkways are cleaned with a stencil to reveal a brand’s logo or a tag line.
These operations are often known as public relations tricks. But in fact for small companies who do not have lots of start up finance, they work really well as sometimes in this case, being creative is your only option.
But keep in mind that guerrilla marketing can backfire if you don’t use the right channels. It is advisable to have an expert in the field look over your plans because the reward is great if done correctly; badly done can be very expensive.
Create a business culture
A good, well-established culture inside your company can bring great rewards for your business. Aside from raising the morale of employees and making your workplace a great place to be, it can help to give your brand reputation a boost which will attract customers to you. It is often overlooked but a positive company culture can really help a business stand out.
This is another idea which doesn’t require a big budget but which can really impact the way your company and its brand image are viewed by the public and is a great option if you want to make your business stand out in a crowded market. Think about ways you can establish values that you want your company to have and think about ways you can promote them. Do you really value honest feedback from your staff for example? Do you want to show that everyone’s opinions matter? Do you want to support social causes? Do you believe in a healthy work-life balance? Do you want to open up flexible working options and explore ways to help employees get greater job satisfaction?
These are just a couple of ideas but many leading companies today are already performing these techniques to stand out from the competition.
Applying guerrilla marketing through creative storytelling, promoting a strong company culture and ensuring your business model is strong and well financed are just three of the ways you can ensure you stand out for the right reasons and obtain positive results for your business.