4 Tips April Used to Build a Six Figure BusinessNov 18, 2022
Have you been flirting with the idea of starting your own business or agency? Maybe you want to start your own business but you feel that the timing isn’t quite right. Or maybe you’re so frightened to fail that you’re scared to even try. It’s okay, I’ve been there too. I’m here to help give you the education and confidence you need to take the first steps to succeed in entrepreneurship!
Did you know that I started my business while my daughter was in the NICU? I started my own business at a time where I knew I had to do SOMETHING to help contribute to my family while also working a flexible schedule. As a military spouse who was living overseas in Japan at the
time and a Mom, I knew a traditional 9 to 5 was not in the cards for me. So I got to work and created my own six figure business using these four valuable yet simple tips!
#1 Finding your target niche
Who do you want to work with? Who are you going to focus on? Let’s say you wanted to create a marketing agency. Are you going to target small businesses? Military owned businesses? How about restaurants, shopping boutiques or community events? Know what audience you’re trying to reach and target them through your work.
It’s also incredibly important to know who your specific customer base is so that you can target them appropriately. Where can your niche be found? Are they active on social media? Can you run facebook ads or post in facebook groups regarding your services? By finding out what platforms your target audience is using, you can also use these to not only target them but also to gain their trust and hopefully their business.
When starting your business it’s important to identify the problem you can help your target niche solve. You have to reiterate to your target audience WHY they need your services. How will your services create value for the customer?
Do your market research and know the answers to these questions first before doing anything else.
#2 Find Your First Clients
These first few clients are going to build your credibility and your business. Find out what types of companies are dominating your niche and what types of problems they’re having. Then target companies that are having these issues and explain to them how you’re going to help them. When just starting out, you may need to offer discounted services, but this will not last forever! Underpromise and overdeliver to these clients for an excellent testimonial and referral.
#3 Start Right Now
Quit talking about it and be about it. There is no time like the present to employee yourself! It doesn’t matter what you have going on, just start!
I started my business from the NICU. Did I have a lot going on? Of course! But if you stay on the sidelines in order to wait for the perfect time, you’ll just continue to do that - wait and lose money.
When starting your own business, it’s incredibly important to also do the market research on your niche but also your competitors! You need to know your competitors and why they’re doing it and how they’re doing it. What are they doing well? What are they not doing well? What can you do BETTER?
#4 Retaining Your Best Clients
Happy clients, bring you more clients.
You can retain your clients by being confident in the services you provide and by being confident in what the expectations are and what you are delivering to them.
When it comes time to increase prices, begin to have clients sign 3, 6, 10 or 12 month contracts.
By having constant retainer clients, this builds credibility but also marketing. Word of mouth is still the best free marketing tool!