All about the challenges of Midlife Finance

How to Market your Small Business Without Going Bust

A large segment of the population has that urge to be one’s own boss and try their hand at being an entrepreneur. It’s a great way to grow talent and to develop personal passions into to a career. That it, if it succeeds.

Small Businesses, especially at first, seem to teeter precariously between staying afloat and collapsing. So what it is exactly that pushes the successful examples over to the winning side?

They usually call it a “big break”.

It’s an opportunity in which the company has a chance to either prove itself or just fade into the status quo of small businesses. This usually comes in the form of large- scale exposure, a promising connection, or a sudden burst of interest from either a segment of the population or someone incredibly influential.

However, to get to that breaking point and to take full advantage of it when it comes, your small business has to have a solid marketing plan, which can be expensive. But, of course, it is possible to use some personal promotion tips and transfer them to your little enterprise, for little to no money at all!

Here are a few ways in which you can cheaply promote your business or product:

  • Good Website – Though you might not have the funds to cover the rent on a storefront or an industrial-sized factory, you should be able to muster up enough cash to cover the design and maintenance of a professional looking website. Unless you have a legitimate digital “place” for your idea to live in, it will be extremely difficult for you to share it with potential clients, investors or just fans! This will widen your audience and add to your legitimacy.
  • Social Media Engagement – Thank goodness that we now live in a time where you don’t have to compete for air time on television or radio in order to succeed. Though these are relatively effective ways of transmitting your marketing ideas, social media can offer a much cheaper and more targeted approach. Look into advertising on Google, Facebook or Instagram in order to increase your brand awareness and make sales. The process is simple, straightforward and you spend as much as you want to. However, if you don’t want to spend any money at all, then don’t. Try to spearhead your own organic reach by engaging with your desired audience and creating sharable materials. There are many examples of companies that got their “big break” through exclusively posting beautiful pictures on Instagram or Pinterest, even before you had the chance to officially advertise there. Just remember to be conscious of your audience and “where in the internet” it is.
  • Networking – Just like when you are looking to expand your professional opportunities, it is important to network for the sake of your company. Getting into a crowd of like-minded entrepreneurs or influencers in your industry can give you a big boost in the future. Just remember to not be needy nor too shy. Offer your help whenever possible and don’t be afraid to reach out to ask for assistance with your business goals. You never know who and what others know that could help you down the road!

So if you have some revolutionary idea or just want a small, hobby business to supplement your income, remember that giving your dreams a try doesn’t have to be a great financial gamble. Start by marketing it in a smart way and then work towards getting that ‘big break”!

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