Useful Tips: Starting Up or Launching a New Project

Planning to start a new business tomorrow, or already own a business but want to launch a new project to optimize your profits? Check out the do’s and don’ts below. These tips are applicable to both small startups and large businesses looking to grow further.

What is important before you start?

It's crucial to have a clear understanding of your startup idea or the project you want to launch: What is the concept? Is your concept marketable? Who is your target audience? and so on. You can't move forward without a clear vision for the future. You need to know exactly what you're going to do, why your organization is doing it, where you'll be operating, and how you'll make it happen.

Can you grow or start without money?

Depending on your skills and knowledge, you can achieve a lot within your business without having to invest a lot of money. If you're a beginner, it's important to first analyze what you can do yourself, what actions you can take, and what type of content you can produce to start your business. However, it’s crucial to do everything professionally, as your image can be easily damaged. Do what you can do yourself, but leave what you can't to the professionals. Don’t waste too much time trying to do everything on your own, because your time is valuable!

What can marketing do for your business?

In addition to a solid business plan, you must also have a clear understanding of your marketing and communication strategy. It's no longer just about a commercial or a flyer—those days are long gone. A common mistake made by both start-ups and growing businesses is defining their communication channels without having an effective strategy in place. They then approach specialized companies that, understandably, promote the type of content or actions they focus on, but this may not be exactly what you need. For example, a company specialized in websites will promote its own type of content, even though it might not align with your requirements. S&T Group helps organizations make the right choices in this regard and also manages the production of various types of content. Another downside is that, in such cases, synergy between these different channels is often lacking (links, backlinks, CTAs, etc.), preventing you from achieving optimal reach and profit. Ultimately, marketing should not only create a good image but also help differentiate you in the market and drive profit optimization.

Is innovation important, and how do you achieve it?

Why should your company invest time and effort into something new when what you're doing is already functioning perfectly? The first reason is that innovation often leads to a significant increase in profits for many businesses. By innovating, whether you're a start-up or an established company, you make your business think critically about its market position. It challenges you to be better than the competition, and innovation is often the key differentiator between your organization and both direct and indirect competitors.

Innovation is not always straightforward. It can sometimes happen quickly, but other times, it may require a lot of research. The first thing you should always do is test your idea with your target audience. If you already have customers, test your idea with them, but also gather insights from post-tests you conduct on existing actions. You’d be surprised at what customers can teach you about your own business. Are you a start-up? Then it’s even easier! As a start-up, you often think from scratch, analyzing every detail (target audience, product, product color, communication channels, tone of voice, etc.)—and you should do this whether you're a start-up or an existing company launching a new project.

It’s also important to surround yourself with growing individuals. The partners you work with should be people who push you to think ahead. Don’t be afraid to think big and dream, because it’s from dreams that many innovative ideas are born. Then, turn those dreams into practical, applicable ideas.