“Don’t let people tell you your ideas are stupid. If you are really passionate about something, find a way to build it.” - Dennis Crowley
To start off something you believe in seems enticing but it also has some do’s and don’ts associated with it. Printing business is considered a lucrative one; however printing startups have to put in maximum dedication and hard work to get noticed in the market. Every startup has its unique challenges along with some common ones. Here are few things every printing startup should consider to kick-start their business.
To stand out among your competitors, Work out that “Spark”
According to Sam Walton, “High Expectations are the key to everything.” While you are out there in the market, what makes you unique from others is the commitment to come up with the best. Startups should not be afraid of risks or experiments. If you want to earn customers’ trust and brand credibility, focus on being determined in what you believe. Success would come your way once you are honest with yourself.
Don’t be afraid to fail
“You don’t learn to walk by following rules. You learn by doing and falling over.” - Richard Branson. When you are new in the market, you are alien to a number of rules. With each passing day you get to know about new things and some of them are learnt at the cost of making mistakes. Don’t let an unpleasant incident ruin your will power. Take of it as a learning experience and move on with bigger goals ahead.
Having a business plan is quite a good idea
Planning things up would help you in the long run. Make a workable business plan for a printing company. “Well begun is half done” - If you know that you are executing your plan accordingly, you would feel relieved. The plan should include your products/services, target audience, management team and other basic details. Define your tagline and objectives. While you are at it, assess your performance on regular basis and keep track of things that work for you.
Sales don’t happen unless you chalk out an effective marketing strategy
Market research should be done to identify your potential buyers. Once you know what the consumers would ask for, market your products in an efficient manner. The price, promotional packages and the perception with which the target audience would receive a product/ service are all important aspects of a marketing strategy.
Looking for customer retention? Make sure you give them what they want
Steve Jobs rightly opined that “You can’t just ask customers what they want and then try to give that to them. By the time you get it built, they’ll want something new.” Catering to the needs of heterogeneous target market gets tricky at times. Build something which is either cheaper or innovative than your competitors and keep evolving with the passage of time. Otherwise you could make good money initially but customers won’t be coming back after sometime.
A competent team is likely to give your company a competitive edge
“The cost of hiring someone bad is so much greater than missing out on someone good.” - Joe Kraus. Having an experienced and accomplished team is a great blessing. Printing, just like other businesses has many areas of expertise. So if you have really skilled graphic designers, production team members, Sales and Marketing people, the chances to get success are remarkably high. Efficient human resource is more important for a business than machines.
For long term customer loyalty, always offer affordable prices
Customers always feel inclined towards companies that offer high quality at affordable prices. You can pitch your target audience very shrewdly by providing them premium products at low prices. This would help building a long lasting relationship with your clients. You can have special discount packages for the first few customers; this would play a significant role in brand recall.
Social Media marketing is the new way of customer acquisition. Agree?
Having your Facebook, Twitter, Google plus and Linkedin pages would help people to search you, share and recommend your services to friends and acquaintances. For a startup business social media marketing provides many perks. As compared to paid media, this mode attracts greater traffic. Moreover when you have a limited number of employees, social media increase your exposure and reduces your marketing expenses to a considerable level.
Innovation of ideas is a must have for global business environment
“Learning and innovation go hand in hand. The arrogance of success is to think that what you did yesterday will be sufficient for tomorrow.” - William Pollard. Innovation relating to your products’ improvement, branding and customer services is vital for survival amongst your competitors. Being unique gives you a competitive edge and provides you an opportunity to reach a wider target audience.
Learn and communicate with cream of the crop printing companies
Follow the cream of the crop in your area of expertise and learn from them. While you are new in the business, make contacts with the giants of the industry. You can take useful tips from them on implementing the business plan and nailing your target audience.Taking a leaf out of their book can be handy if you are stuck and seem short of ideas.
Always think that whatever you have achieved is satisfactory yet not enough to live the dream think of attaining better, in fact the best!