A Starters Guide to Launching an Enterprise
You have established your idea, incorporated your business and started developing your products / services but you wonder what your next steps are. The next stage is launching your idea. Depending on the type of idea there may be a specific launch criteria. If you would like to know more about the specifics, let us know in the comments below.
“If you are not embarrassed by the first version of your product, you have launched too late.” – Reid Hoffman
We have outlined our five-step procedure for launching an idea. We will be covering everything from:
- Actually launching
- Testing, experimenting and gaining feedback
- Building a community
- Developing a brand identity
- Optimising and iterating as you go
The first thing you should do is launch. It might not be perfect and you may encounter problems, but that is all part of the process. Depending on the idea and type of enterprise you launch, there may not be an audience to begin with. So you should use this time to focus on shifting gears and starting to build momentum.
Test, Experiment, and Feedback
After launching, collect as much information, data, and feedback as you can. Collecting data can be done in many different ways. You could:
- talk directly to customers to find out their opinion
- use surveys and forms
- use common tools like Google Analytics and social media insights
You will be able to identify issues by analysing this data and then find solutions to address the problem. Experiment with different solutions, run tests, and collect more feedback.
Build your community
Immediately start engaging with the audiences in your industry to build awareness around your idea and launch. Your initial community plays an essential role in providing feedback and following your progress. Build your community through social media, a website, and/or networking.
Networking events are a great way to share your ideas and meet people within your industry. Alternatively, you can find forums and threads across various social media platforms to engage with discussions around your ideas.
Develop your brand identity
Your brand identity is what differentiates you from your competition. Create consistency across your brand and build awareness of what makes you and your product unique. While experimenting, see what branding options best suit your idea, be creative, and gather regular feedback to see if communicating your solutions to your audience is working effectively.
Optimise and iterate
You will continually be iterating your launches. This involves cycling through different processes to find better methods; ways to streamline each step; and new ways to learn and improve ahead of the next launch date. Iteration also gives you the opportunity to effectively adapt to your industry’s landscape and business goals. Your efforts will compound together and produce extraordinary results.
You have established your coffee store idea and developed the perfect coffee blend ready for you to launch. For your initial launch, you could set up a market stall; go to a networking event for new businesses; or offer free samples in the street. Collecting feedback at this stage is the perfect opportunity to see how people respond to the taste and build your community by engaging with customers. You can then direct them to your website or social media platforms. Repeat the whole process; optimising and iterating. After completing the initial launch, the next step could be to launch your coffee store.
For this example we have kept things very simple. When you look to optimise and iterate your own enterprise, you may face challenges that we haven’t outlined above. If your unique idea has added complexities, you can get in touch with us at Enterprise Starter for additional support.
At Enterprise Starter, we simplify the process of establishing, launching, and growing an enterprise. Our mission is to support and advance entrepreneurs to accomplish their ambitions by encouraging them to take a leap and build the foundation needed to grow their enterprise.
Since the founding of Enterprise Starter, our purpose has been to make ‘enterprise’ more accessible to people, particularly those with socioeconomic disadvantages. We are here to effect positive change. We inspire entrepreneurs, support removing hurdles and enable an ease of access for anyone wishing to start their entrepreneurial journey, thus contributing to the wider community.
Our dedicated entrepreneurial team is here to support you and your team in launching your idea with a range of resources, guidance and advice.
We are building a community where entrepreneurs thrive, and ideas come to life.
Contact us through our website Enterprise Starter
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