5 Things To Do Before You Launch Your Business

You’ve heard it before. Over drinks, coffee, at the dinner table. ‘I have this idea.’ ‘Wouldn’t it be great if…’

Don’t let anyone discourage you. The best brands and businesses have started following what you just said at the dinner table.

But there are things you should do first.

Grab your pens and google docs.

  1. Draw a business map. A business map is just that. Draw it, type it, just get it written down. Include the what/who/why of what you intend to grow. It can be informal for now, but you will definitely reference it later. Doesn’t have to be formal but it does have to get written down.

  2. Take 5. Spend some time looking at your competitive landscape. Make a list of other brands that may be your direct competition and what they do really right and really wrong.

  3. Watch trends. Are you seeing an onslaught of emails from fashion subscription services? What about grocery delivery brands? These are the trends I’m talking about. (Don’t get me started on mail-order bra businesses right now). Spend some time thinking about what the next big thing might be and how your brand idea might either supplement, complement or become that big idea.

  4. Find your differentiator. What will you do better than anyone else? For example- If you’re thinking of launching a meal subscription brand, I want you to stop and think about how you would be different from all the others because it may be the only reason that someone tries your product or brand. Find it. Embrace it.

  5. Talk it out. Whether it be me, a trusted colleague or a friend, plan time to talk it through. It’s your first step in what might be your very own brand. A word of advice, though, don’t blast your idea on social media or at a business conference. You want to keep your cards at least slightly close to your chest.

    Know someone who needs this advice? Share away! Or better yet, have them email me to set up a free intro call.

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Get in touch

michele@toggleteam.com

M Frances