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How to Build a Startup that will Bring Success

Are you going to start a new business or a start-up? Are you a freelancer who is going to build a personal brand?  Do you want to be an entrepreneur?  If you say yes to any of these questions, this article is certainly going to help you.

I’m a professional designer. In my career, the two start-up companies I worked for before are no longer in existence. What happened to them? Why were they unsuccessful? From my experience and learning, I’m going to tell you about what makes them fail and how we can succeed without making the mistake they made.

Company A started creating their product without knowing enough about the customer’s requirement. Company B started advertising before creating any product. Both approaches were wrong. So what’s right?

I’ll talk about the fundamentals of marketing through these examples.

Fundamentals of marketing.

Before developing a product or offering a service we should do research on the customers and their needs.

Image source: blog.hubspot.com

Most companies focus on innovation and fail to deploy their brand with customer needs. Company A created an online education site. Their audience was 10th graders. But in the end, they found that customers with a computer or a laptop with a Wi-Fi connection were lower than they expected. Their content was also not very useful to the students. Therefore, they had difficulty finding a single client.

Trust comes before sales. 

“In order to sell a product or a service, a company must establish a relationship with the consumer. It must build trust and rapport. It must understand the customer’s needs, and it must provide a product that delivers the promised benefits.” – Jay Conrad Levinson

Some companies place more emphasis on advertising, which they think is marketing. But advertising is just one component of marketing. You must build trust with your customers before you attempt to sell a product or offer a service as said by Jay Conrad Levinson. It will incentivize people to buy your products.

Company B concentrated on advertising before gaining the trust of customers and they eventually failed.

Product quality is more important than marketing.

Focus on product quality. A great product sells itself. Actually, a  study shows that over 17 per cent of startups fail because of poor products and the top reason for startups failing is creating a product no one needs.

In my example, both the companies provided low-quality products. Company A created a low-quality product because it failed to conduct market research. Company B rushed to deliver the products and they failed to ensure quality.

I hope you got an idea of what caused their failure. Now, I would like to provide more insight into marketing.

Traditional marketing  v/s Digital marketing

In my childhood,  I used to ask my mom to buy things that were shown on television advertisements. In those days, television commercials had such an influence on people. Now In comparing traditional marketing to digital marketing, traditional methods like TV advertisements are often considered outdated or irrelevant.

Is Digital Marketing better than Traditional Marketing?

I would say it totally depends on your product and your target audience. Many of the traditional marketing methods are still useful and efficient today. Traditional marketing plays an important role in reaching local audiences. If your product is generic you can use traditional marketing.

Digital marketing offers a broad audience. One can create a highly personalized campaign and reach the whole world.

The best option is to research your target audience and select the one that suits you best.

I know you have so many questions on your mind, don’t you?

Wherefrom I start? How to gain the trust of customers? How do I get the attention of customers to my products in this competitive world?

I have the answers. Go ahead and read.

CATT Marketing Funnel and Framework

Image source: DigitalDeepak.com

[n]Niche

Assessment of your passion and talent is important. Find an area that you have knowledge and love at the same time. That is your niche. It is not enough to have a passion for a specific niche. It is also necessary to ensure that there is a marketing opportunity for the niche you are selected.

[C] Content

Content is king at raising awareness and producing quality leads that support healthy sales growth. You must serve your audience with a range of quality content including blog posts, videos, infographics, presentations, social media posts.

[A] Attention

You had high-quality content. So what do we do next?

Entice your audience to your content through Reference, SEO, Paid Ads, and Social Media.

[T] Trust

Trust comes when you understand the needs of your customers, respect their needs and provide relevant services. Gaining customer’s trust is important not only to make them loyal and come back but also so they insist their friends do business with you too.

[T] Transaction

 Transaction means conversion of your leads to customers with natural methods. You already build trust with the customer. So it will drive sales naturally.

The CATT framework shows how an individual is going through different stages of marketing. Now the question is, how do we execute this? This can also be explained by another framework.

Personal Branding and MassTrust Blueprint

A personal brand is important for gaining the trust of consumers. People trust people easily. Communicating with your customers as an individual can be more effective. That’s why you need to focus on building your personal brand first. Once you reach a certain level of growth you can introduce your customers to your company. They will trust your company because they already know you.

Now, I’m going to show you an amazing blueprint that contains six different stages of career development and personal branding.

Image source: DigitalDeepak.com

Let me explain each section of this blueprint.

Begin with learning new skills. We should understand the concepts first, then Remember the Facts and then implement the Procedures.

Put our learning into practice by working in the real world, as an employee or freelancer.  Implementation of your learning into real-time projects gives a better understanding of what we have learnt.

Blog about your experiences. Writing solidifies your learning and will help you to build your personal brand

According to your experience and knowledge, offer consultation in your field.

Mentor others who are on a journey similar to you. Teaching enables you to deepen and widen your understanding.

Build your own startup company with that confidence.

This doesn’t mean that this cycle will stop when you begin a startup. You should learn new things and follow this cycle again & again. This will help you to become stronger in your niche. You will become a specialist.

I hope this article gave you a clear idea of how to build a start-up that will bring success. If you like this article, please comment here and share it with your friends.

Jinu Varghese

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