Starting any modern business can be a difficult process. Most people think they need to seek outside investment from banks or private equity firms. That is usually true in the bulk of circumstances. However, there are alternative means of reaching your goals. With the right strategy and methods, you could launch an international brand on a shoestring budget. All you need to do is go about things in the right way. We’ll do our best this morning to offer you some vital advice and tips that should help you to succeed. At the end of the day, it all comes down to how much effort you’re willing to put in. As the old saying goes, “where there is a will, there is a way.”
You’ll need to think of a lucrative and profitable concept first of all. Once you’ve created a shortlist of ideas, you can research each thoroughly to see if they are viable. You should notice that one of them stands out from the rest. It’s always sensible to select the business concept that produces the highest profits for the least amount of effort. Don’t get us wrong, you’ll have to work hard regardless. Even so; you don’t want to spend twenty hours each day turning your dream into a reality. It’s still important you get enough sleep.
Start your brand immediately
While the global economy hasn’t been in the best state over the last few years, things have picked up nicely during the last twelve months. That means it is now easier for people to start new companies and achieve success. Any hesitation on your part could mean launching your brand in a less than stable climate. We simply don’t know how the financial situation will be in six months time, and so you need to start work immediately. Your market research alone will take at least a few months, and working out efficient processes for your business could take even longer. For that reason, there is no time to delay.
Work from home until you have no other choice
Respected experts like Regus concentrate their efforts on finding suitable premises for people in your situation. However, you’ll want to run your new business from home for as long as possible. That will limit the amount you have to spend on rent and utility bills. Once you start to make a significant enough profit, you can look for somewhere more suitable. Sure, your partner and children might not be too happy that you’ve commandeered the dining room, but they’ll get used to it. In any case, your efforts are going to benefit them greatly in the near future.
Use social media to promote your brand
Regardless of which products or services you might sell, using social media to advertize and promote your brand is always a good idea. Millions of people use Facebook, Twitter and similar websites every single day, and so you could gain a lot of attention. You should also learn how to use other domains like YouTube and Pinterest for marketing purposes. You can find some great articles online that explain how to use Pinterest for business purposes, so it shouldn’t take you too long to work it out.
Ask your family and friends to work for free
While asking anyone else to work for no payment is unlikely to produce good results, it’s perfectly fine when dealing with your family and friends. So long as you explain to them that you will reward them financially when your business becomes successful, they should be more than willing to offer assistance. Employing workers directly when your company is still quite young is never a wise move. If profits drop, you could find yourself in a troubling situation. Presuming your family and friends are not interested in lending a hand, you could always get in touch with a local employment agency. They can offer staff on a short term basis to fulfill your requirements. Just be aware that you have to pay over the odds to get their workers.
Make lots of industry contacts
Getting your face out there and ensuring everyone in the industry is aware of your business is a wise move. You can do that by sending emails, arranging meetings or cold calling. Some new company bosses find that attending relevant trade shows and exhibitions works well too. You could either book a stand to promote your brand or simply get some tickets and have a stroll around. The best thing about that idea is that you’ll get to meet people in a relaxed environment and have a good chat. When dealing with contacts at business meetings, things can take a more formal tone.
Use your profits to fund growth
Here is the most important piece of advice we’re going to offer you today. If you want to launch an international brand without seeking outside investment, you must use your profits to fund growth. That might mean you don’t take a wage for the first twelve months, even if your business is doing well. That money could be better spent on paying for marketing, machinery, and other vital endeavors. There is no getting away from the fact that you’ll have to spend money to keep your company going, but you should aim to keep it to a minimum.
Research legal matters in foreign territories
Selling abroad can mean you have to satisfy lots of different regulations and laws. While you should always try to handle everything in-house, that is a job best left to the professionals. There is no getting around it. You need to find an experienced lawyer who is capable of ensuring your don't do anything wrong, or stand on anyone’s toes. The amount you have to spend on that will be quite large, which is yet another reason you need to retain all your profits.
We hope you achieve your dreams soon and launch a well-constructed international brand over the next twelve months. If you need more advice, check out any of the fantastic articles on this blog.
See you on the other side!