You can take your business from start up to stardom. Some people might think that people will come just because they begin their start up. But, that is not correct. One of the more common mistakes of start ups is running out of cash flow and not having enough money to actually launch their product. But, they take the chance and try to launch it anyway. This often leads to very disappointing results for them.
- It’s sensible to shop around and find good value for your needs – market research, product development, IP, trademarks, packaging, graphic design all cost money so a budget is needed
- But what is most important it to plan your marketing strategy carefully and ensure you allocate funds from your budget to actually execute it once you’re ready to launch
- There are plenty of ways to make a few dollars go a long way in a marketing strategy. Consider Facebook advertising, Instagram ads and Google AdWords
“One of the most common mistakes made by start-ups is to run out of cashflow and not leave enough money to actually launch their product, so they take a chance and do it anyway.”