You may think startups are a young person’s game. However, there is a big difference between being a startup and starting a business.
Just like being an Entrepreneur, which is a buzz term with the kool kids who proudly wear the badge of being known as a startup business owner. For most successful Entrepreneurs, the first thing they generally do after they start a business is get someone else in to run it. In fact, research shows that 60% of new businesses are run by someone over 40 years old. It is a different skill set.
Our own research into who was interested in bootstrap startups revealed (surprisingly) that over 60% of our market for this was over 50 years (young), with the largest segment 65+. But when you think about the fact that last year in Australia, 200,000 retirees went back to flexible employment arrangements to get paid to do what they love, this was no surprise to us. Our network is full of them, and they are all willing to give back their experience to people their grandkids age as their own kids likely don’t listen to them.
What is a “bootstrap startup”?
Bootstrap startups are businesses that are started and run with little or no external funding. This means that the founders rely on their own resources, such as personal savings and revenue generated from the business, to finance the startup. Bootstrap startups are often attractive to entrepreneurs who want to maintain control over their business and avoid taking on debt or giving up equity to outside investors.
Many different types of people may be interested in bootstrap startups, including entrepreneurs who want to start their own businesses, people who are looking for an alternative to traditional employment, and individuals who are looking to create a more flexible and independent lifestyle. Some people may also be attracted to bootstrap startups because they allow for more creativity and innovation, as the founders are not bound by the expectations or constraints of outside investors.
There are a few reasons why bootstrap startups may be becoming more popular. One reason is that the cost of starting a business has decreased in recent years due to advances in technology and the proliferation of tools and resources available to entrepreneurs. This has made it easier for people to start businesses on their own, without the need for significant external funding.
Another reason bootstrap startups are more popular.
Another reason is that the economic climate in recent years has made it more difficult for startups to secure funding from traditional sources such as venture capital firms or banks. This has led more entrepreneurs to consider alternative financing options, such as bootstrapping, to get their businesses off the ground.
Finally, the rise of the gig economy and the increasing popularity of flexible work arrangements have made it more attractive for people to start their own businesses, as it allows them to have more control over their work and personal lives. This has contributed to the popularity of bootstrap startups as a viable career option.
Where is the best place to start?
Having a strong online presence is important for businesses today, as more and more people are using the internet to find products and services.
Here are some tips for building a strong online presence:
- Build a website: Your website is the center of your online presence. Make sure it is well-designed, user-friendly, and up-to-date.
- Use social media: Set up accounts on relevant social media platforms and use them to connect with potential customers. Post regularly, interact with users, and share valuable content.
- Encourage online reviews: Online reviews can be a powerful way to attract new customers. Encourage satisfied customers to leave reviews on your website, social media accounts, and review websites like Yelp and Google My Business.
- Use search engine optimization (SEO): Make sure your website is optimized for search engines so that it appears at the top of search results when people search for keywords related to your business.
- Use email marketing: Email marketing can be a powerful tool for reaching out to potential customers and keeping them informed about your business.
We recommend doing this as an 8 week campaign as part of a 3 month seasonal marketing strategy. It’s important to stick to the plan and let the campaign run its course. You do what’s called a 90 day reset, which given you a break and the opportunity to improve your strategy for the next 3 month.
But you don’t stop your marketing after 8 weeks. If you turn off your marketing machine, it is hard to start it up again. This is when do the things again that worked in the first 8 weeks to see if it is repeatable success. This is when you do you split test, or A/B tests, so you can improve the result and freshen up your content.
You keep doing what is working for you, and Include them in the next season’s marketing. Not everything will work, but it helps you build your customer focus and get repeat business, which is an important step to becoming a profitable business.
By following these tips, you can build a strong online presence that helps attract new customers and grow your sales.
Steps to improve your customer service right from startup
There are several steps that small businesses can take to focus on customer service:
- Set clear customer service goals: Clearly defined goals can help you stay focused on providing excellent customer service.
- Train your employees: Proper training can ensure that your employees are equipped to handle customer queries and concerns effectively.
- Foster a customer-centric culture: Encourage your employees to prioritize customer satisfaction in all interactions and make sure that they understand the importance of providing excellent customer service.
- Stay responsive: Respond to customer inquiries and complaints in a timely manner, and make sure that you follow up to ensure that their concerns have been addressed.
- Seek feedback: Ask your customers for their feedback on your products or services and use their input to make improvements.
- Be proactive: Anticipate customer needs and proactively offer assistance to make their experience with your business as seamless as possible.
- Show appreciation: Acknowledge and show appreciation for your customers. This can be as simple as thanking them for their business or offering them a discount on their next purchase.
By following these steps, your small business can focus on providing excellent customer service and build trust and loyalty with your customers.
Don’t think you can do this yourself? We hear that a lot.
No matter what your age the technology to do all this is very simple and user-friendly. You can book a free advice session, and tell us all the excuses you have for not doing what you love. Book a quick discovery call HERE and we can debunk the myths and get you on your way.