The Challenges Facing Entrepreneurs and Small Business Owners

One of the keys to success in creating a new business is to stand out in the market. Doing means a careful planning and disciplined implementation. A well-designed IMC program is an important tool in the pursuit of success.

All small businesses and new companies are not the same. In fact, the different types are quite large. Here are some of the most common types:

1. A small family business, such as cleaning, restaurant, a specialty store - for example, studio - or a store, a stop designed to provide the family income.

2. A startup company with a growth in mind, be it through product sales increases, multiple sites or franchise agreements.

3. Corporate business initiatives such as Genuity.com and mobile services and Internet access offered by long-distance carriers.

4. Groups doctors, dentists or other professionals who come together to practice.

Typically, entrepreneurship means a company for the explicit purpose, always formed through an aggressive growth program. Intrapreneurship is a spin-off or start. A small company is a family business or a professional consortium formed with specific objectives in mind. In most cases, aggressive growth is not as important as providing a reasonable income for the owner.

The common denominator of all forms of start-up and new companies is that they are not known in the market. This is the biggest challenge for any new business. For example, the introduction of MLife recently resulted in a considerable amount of confusion in terms of exactly what was offered in a Super Bowl. While the company's website was flooded with inquiries (as it crashed), most people did not bother to learn and remove them was slow.

Many consumers are reluctant to try new products, services or businesses. Purchases are often based on well-known brand names and well-known patterns of purchase. It is much easier for customers to buy the same brand they have always bought another brand or recognize or used it. To be considered a new business, the brand must be evoked in a person or company evoked by brands.

This dilemma is composed by the tremendous amount of marketing disorder that all companies stand for. Overcoming clutter is particularly difficult for new businesses with marketing budget and limited funding. Traditional methods of advertising and consumers are not enough to be recognized.

Company leaders must be assured of the promise and offers a high quality experience, especially in the first consumer purchase. In the unhappy encounter they often lead to negative mouth propaganda. A new company will probably not get a second chance if the customer has a bad experience.

To address these problems, a new address must develop an all-key feature and find a way to help consumers get this advantage. All the brand names in the announcement the company logo should capture the interest and attention of the consumer. It is important to remember that customers are interested in advantages versus characteristics of the product or service, or as a writer - what for me? - the new company must be able to answer this question clearly in order to survive and develop.