What sort of confusions do entrepreneurs face before they start their business?
The confusion is whether we should have a website before approaching the clients to outsource their services or to first get the clients to invest for building a business website. Appreciate your answers.
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Jun 10, 2015
Wonderful dilemma! This is a golden question which bugs most entrepreneurs - to app or not to app. It always makes sense to go to customers with something tangible in your hand (other than your concept ppt!). The point is, is your business around retail customers or are you looking at investors/partners? It is always better to do a thorough market study, build your potential market size, revenue potential etc and then lure in the investors to fund your venture. Usually carrying around a prototype is quite convincing enough to both the user and the investor on the potential of the offering. So, my recommendation is that you first get a quick and dirty model up and running; let your potential users and investors have a feel of it and then do your pitch.
May 14, 2015
How about considering a good business plan, replete with Marketing, sales forecasts high low realistic, costs commensurate, and web site all as close to happening at the same time as ;possible...
May 12, 2015
Even the most spectacular website won't draw clients in if it is not designed for the right client. While you need a website to function as a business today, you might find identifying your ideal client, want they want and need and how your company can fulfill that to be critical first.
You can design a basic site for clients to become familiar with what your company can offer them without spending a fortune and as you build clientele, you can revamp the site accordingly.
You can also use your site to draw clients in by offering something of value they can access on your site without cost (perhaps for just an email) This will develop a potential client base as you learn how your site can become their "go-to' place.
Yes, you need a website, but certainly spending all your money on developing your site without knowing who the ideal person is you want to reach is foolish.
Start with something basic and reach out accordingly until your business becomes one clients can get to know better and trust.
I think our best investments are in growing clients not growing bigger, better sites or fancier marketing tactics and often client growth comes from organic word or mouth, face to face, B2B interaction.
May 12, 2015
A Very Good question to Ask,If They love what they do the money will eventually come.Ask yourself Are you willing to go the distance?
When the tough times come ,Be creative about finding other way's to make
end's meet.
You will return to what you love later on.
Good luck and god bless!
Have Faith!
May 12, 2015
What sort of confusions do entrepreneurs face before they start their business?
This is a rather broad question. Phew...frankly, I wouldn't know where to start but, I'd imagine, it will be different for every entrepreneur.
To answer your second question - As @JC Quek suggests, it will largely "depend on your business". In my experience, you need to understand your clients, their motivation for buying, their business and how your services will add value to what they're doing. In either case , you must first have an "MVP" - Minimum Viable Product before you approach them.
And here's why. A flashy website looks cool. Frankly, anyone can have one these days, except, if is this what your business does and does best?
Do you sell websites? Because if that's what you do, then you clearly need to have one to show your clients.
So to back up my proposition of why you should have a minimum viable product - this is your working model to show or demonstrate to your clients what you're offering and how it works so they can see it at work. If they like it, you will sell the lot before you walk out that door. Others might need a bit of pampering so I suggest you keep your differentials to your chest and drop it when you feel they're hungry for more.
Sadly I see a lot of entrepreneurs who slash out on fancy websites but no prototype of what it is they offer. Consider the website primarily as your shop front to sell your wares, communicate your business message and show off it's value.
As long as your business is registered and can be found - legitimacy confirmed, you're half way there.
Hope this helps and good luck. Feel free to connect if I can be of further help.
May 12, 2015
A website is a must, but more important than a fancy one is the design and message.
New entrepreneurs need to understand business fundamentals and then marketing fundamentals before doing much of anything else. By doing that, a lot can be accomplished without having to spend a lot of money.
For example, don't even MOVE into business (website, marketing, or anything else) until you have determined your differentiation and how to build a market dominating position. Then make sure you have determined your precise target market,, determine how they think, develop your powerful sales/marketing messages, and finally determine what your strategic marketing campaign will be.
In the end, it is not rocket science, but ensures business success.
May 12, 2015
The greatest challenge that most of my entrepreneur clients face centers around focus. They are rarely prepared to hone in on core business and supportive strategies. My role with them always seems to involve reminding about core goals/strategies and keeping them focused on doing what is needed to address the core business.
An example of this was a client who was in the Office furniture sales, installation and services business. He kept wanting to take back old furniture and resell that through an outlet store and build a string of reseller locations across his geography. It was quite the undertaking explaining that his real strength was in selling and professionally installing great office solutions and that he should focus his efforts there. Today his business is about $30 million annually and I'm happy that he listened.
May 12, 2015
A basic web presents is important. A three page basic site with information about the company, basic company practices and a contact page would get you started. That way you have a two sided tool. A presents on the web for people you contact by email/letter to find you and a place to take people while you are engaged with them. As the company grows you can improve the web presents.
You could build the business without the site, but I feel it will grow faster with a very basic site. Good luck with the process.
May 12, 2015
Absolutely have a website!
Keep in mind though that having a poorly structured site can do just as much harm (if not more) than not having a site at all. If you don't know where to start with the site, then engage a professional to help.
If you are limited in funds, start with a simple 1-page site (as Neil suggested), with a "website in progress" note to let people know there is more to come.
May 12, 2015
The worse things to mistake or misunderstand are your value proposition in the emotional words of your propects and customers.
I think most entrepreneurs die on the vine based on being married to thier dream but not accounting for cashflow.
May 12, 2015
True David. An entrepreneur should hide his/her emotions to get succeed in their business.
May 12, 2015
The 2 primary things are time and money. Start ups often underestimate how much of both they will need.
May 12, 2015
Pradeep: Setup the website! Whenever you contact someone to discuss an opportunity, one of the first things they will do is go to your website to make sure you are for real. As both Neil and Steve indicated, it establishes your credibility. It doesn't have to be complicated, but it does need to communicate who you are and what you do and provide contact information (ie. about us, contact us, our services).
Best of luck.
May 12, 2015
Thank you Scott :) Yes, definitely I'll have to think about having a website now for my business because most people I have reached to have shown interest in my ideas but, didn't turn-up to build a business relationship with my business.
May 12, 2015
I think you have to have a website first for a number of reasons; mainly credibility & to properly portray your services.
Overall, I think the main confusion of many entrepreneurs is the importance of incorporating, and having a proper CPA in place. It is very dangerous to start a business without this. Take it from a guy who paid over 5K in penalties & fines when he moved from a sole proprietorship to a S Corp & ran through 3 crappy CPAs before finding a good one. Best of Luck!
May 12, 2015
Thank you Steve. Yes, you are right, a website definitely creates credibility and helps portray our business services properly to our clients. I value your words :)
May 12, 2015
Here is the way I look at it. Your website is your business card. At first you can keep it simple in terms of having a site that can be 1 page describing your business with a good value proposition with a contact me form.
May 12, 2015
Depend the nature of the business.
If you are a website designer, you probably need one to demonstrate your skills on top of showcase your previous works
If you setup a food stall near a dense people traffic - I suppose sell your food first is more important.
If you selling an idea, you may produce some write up about yourself, 3rd parties document and other relevant information for presentation rather than working out a website first.
so ...it depends
Thank you so much Glenn :) Felt really happy to read your answer :)