“Create and Cultivate” your business with some tips from Forbes magazine’s article last week. According to the article, “an average of 1,821” women are launching businesses each day. With all of this innovation and business creation, it’s good to look at some tips from the pros about how to create and cultivate your business. There are a variety of things you should have in place as you launch your business. And once you’ve got the basics out of the way, these tips are a good reminder of some of the things you need to think about as you grow your business.

Tips from the Pros

With founders from Build-a-Bear, Spanx and Pepperidge Farms, the tips at a recent Create & Cultivate event in Manhattan were aimed at helping women founders elevate their careers. Their tips included,

  • Make Your Dollars Make Sense.” ~ Review your business model. Understand what’s the best funding options for you. Maybe self-funding your business won’t be the right way and you’ll need a bank’s help. Or perhaps your hard work is enough to get the business off the ground without outside money. But each business is different.
  • Disrupt An Existing Market.” ~ As the article points out, it is the execution that differentiates companies. Most new companies are launching into markets that already have a competitor. So what is going to be your differentiating asset? What do you do better than anyone else? That differentiation is a key driver of your business.
  • Be Agile.” ~ The world is constantly in flux. With technology, it’s important to be able to keep up with real-time developments. Can you tie your business into current events? Does a recent event create an opportunity for growth?
  • Nurture Your Audience.” ~ The new shiny object is being sold to you daily. Another company pops up that can promise you more followers, more customers. But don’t forget about your current customers. Your tribe. If you appreciate them, it can lead to even more new customers than spending thousands of dollars on some new shiny software…
  • Prioritize Sales and Marketing.” ~ You have to learn sales and marketing. Every business needs it. Some need it more than others, but you need to understand it. Many of the businesses I work with need as much (if not more) marketing help as they do legal help. Learn this part of the business or hire someone who knows it. But you can’t ignore sales and marketing.

Next Steps

If you’re ready to get your business idea off the ground, give me a call and mention that you are starting a business. I hold open special legal strategy session slots for new business owners and we can sit down to discuss the process and some next steps to get you up and running – (877) AMAYERS.

Andrew Ayers
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I work with business and estate planning clients to craft legal solutions to protect their legacies.
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