Aleph Website is a Web Dev and Design agency specializing in Website Marketing in New York. They have given us the opportunity to dive deeper into ways an entrepreneur (or startup) can reduce risk when launching a company and starting out with a new product – entering the market for the first time.
So let’s take a look at what Aleph Website has to say about this adventurous and interesting topic!
What are some of the traditional ways an entrepreneur can reduce risk and conduct risk management?
“Everyone knows the basics. A few things must be in place for an entrepreneur to take control over expenditure, as well endogenous factors that may affect the business. These are:
- Insuring your company against failure
- Creating a saving account where you store a percentage of your profit
- Protecting your privacy and business data so your business is hack-proof
- Focus your efforts on one market and one type of customer in the beginning.
These are the basics that every entrepreneur must respect.”
How can an entrepreneur reduce marketing costs and concentrate their budget on marketing efforts that pay off?
“This is the KEY question. Every new business must invest in promoting their products, as well as increasing brand exposure in front of their clients. That is simply unavoidable.
We have seen many entrepreneurs fail because they were reluctant in investing in marketing. However, entrepreneurs and startup owners must understand that there are companies willing to do the bidding if they can’t. In other words, if you have a great idea but you’re not willing to invest in it – someone else will still have the idea and have the money to win the race to the market!
So to answer your question, the most cost-effective marketing for an entrepreneur is BUILDING A NEW WEBSITE. Here’s why:
- You can test your products’ absorption rate digitally. This means you are not producing anything just yet, instead you are seeing what the acceptance rate among your target audience is. If the willingness to purchase is high, then you have green lights for the product to production and plan your expenses from there.
- A website gives you an opportunity to enter the competition early. Before even launching a product, you are out there competing for TRAFFIC. This is crucial. If you can’t get traffic, you won’t be able to get new business.
- With a good website; great design, excellent user experience, high domain ranking, etc. – you are able to establish authority online. This is important as you educate your audience how to make informed decisions. Gradually they will tilt their perceptions towards your services and products and you will win this market – way before ever spending on production.
- A well-built website is an opportunity to collect data, emails, personal information, early leads, and valuable feedback. A good website is a platform used to communicate with potential clients. Frankly, you can adapt your offering way before it is on the market – simply by asking your visitors “WHAT DO YOU REALLY WANT?”
Taxpotter said it is important to keep an eye on the ‘big cats’ and follow the digital trends. You will find much proof thereof that owning a great website is what is the best way for an entrepreneur to reduce risk!’
Following these trends and stats will give you a standing chance to win a market before ever owning a real business!”
