London is widely considered to be the capital of opportunity and success, with many people starting up highly profitable business ventures every year, basing themselves inside the city. So it shouldn’t come as a massive surprise that there are a lot of people starting up businesses this summer.
However, the main difference between the businesses that succeed and those that don’t will be whether they have an understanding of the environment they’re about to enter into. The British summertime requires a specific set of strategies and tactics to ensure success, so read on to learn what you should keep in mind when starting up a business.
Marketing needs to be targeted
One of the first things to keep in mind when it comes to starting up a successful business in London is that marketing needs to be targeted. If a company is going to capitalise on the sales frenzy which whips up during this season, they have to make sure they have a marketing strategy to match that.
Matt Williams is the CEO of Freerein Riding Holidays Ltd and has gone on record to say that ‘it is so crucial for any business to have a targeted and precise marketing strategy to take advantage of the current financial and seasonal climate. Whether you offer riding holidays or sun hats, you have to be specific’.
Build a rapport with customers
One of the most important things to know when you’re trying to build a business in the London area is that you need to establish a rapport with customers to succeed. Think about it – these people that you’re trying to market a good or service to see hundreds of potential products every day. So you have to make them choose your brand over someone else’s.
Building that all critical connection is widely considered to be the most successful way to do this. When you take the time to establish a rapport with someone, you’re creating a common ground and becoming less of a faceless corporation and more of an approachable company. Making a sale is as much about the psychological element as it is about the business, so you should always try and connect with potential customers and clients to get the best sales possible.
Create a substantial range
It may be incredibly tempting to start a business based on a seasonal commodity. It makes sense at the time – you’re tapping into a massive resource of tourists and holidaymakers who are keen to get the latest brand of sunscreen or a trinket. However, there’s just one problem with this course of action. When the season ends, what happens to all of your stuff? The business doesn’t have an audience anymore. Therefore it collapses.
Creating a substantial range of products and services is, therefore, critical. Unless you want to be a seasonal business which fades into obscurity for 3/4 of the year, you are going to want to invest in a range of products which give you services and goods to offer in the autumn, and spring, and winter. Your company needs to have some depth to it because otherwise you don’t succeed in the same way that multi-million-pound companies do.