Launching your business 101: so, you’re ready to roll and start your freelancing-own-business career but when is the right time to launch and how to launch the right way?
hello, I’m your host Kaycinho, I’m a digital alchemist, and this episode, is episode number five of a module dedicated to the creation phase of starting your business. So if you haven’t seen the first four episodes, I invite you to check the module playlist by clicking here.
And by the way, this module is the second module of a course dedicated to take you from the burning desire to become your own boss to actually launching your business. So if you want access to the full course (videos will be added until the course is complete) by clicking here.
Transitioning from corporate to freelance or small business owner is a big step in a person’s life, and it can be intimidating to realize nothing is stopping you from launching and taking the big jump.
As usual, nothing is all black and white when it comes to strategy launches, and many good books have been written on the subject.
The first step is to assess if you already have an audience, or if you’re starting fresh. Which means no one knows you exist.
1. Launching your business if you already have an audience
If you already have an audience maybe because you have 5000 friends on Facebook or because you have a popular personal instagram account or YouTube channel , and you’ve built an email list, which contrary to Social Media platforms is your list, here are the steps you’d want to follow:
Launching your business: 1.1 Set a date
The first step is to set a launch date, and I know that can be tricky because while you’re in the process of setting everything up, you may not know exactly when you’ll be ready.
Well, let me put it like this: welcome to the world of entrepreneurship where you get to make your own decisions AND live with it.
That’s part of the entrepreneur package.
Now, setting deadlines is good in business because it forces you to act and push boundaries.
Now this can be a double edged sword because if you promise a release date and don’t deliver, this can have a strong negative impact in the mind of your potential customers.
Now here are some tips to avoid that situation:
First tip: when assessing when you will be ready to launch, study your timeline but also follow your gut.
And second tip: if you think you’ll be ready in 3 months, then double it and set the release date in 6 months.
Launching your business: 1.2. Build Anticipation
What you really want with your audience after you’ve set a date is to build Anticipation so that you audience is eagerly waiting to find out what’s the big news that you are teasing them about.
And you do that by releasing small chunks of information.
For example, if you know your launch date is in 3 months, you could release small hints weekly, in the form of mysterious or incomplete graphics, slowly building interest. /
If your audience is active they will ask you questions and that will allow you to play and be even more mysterious about it.
Launching your business: 1.3. Unveil your big offer
Once you’ve built enough interest by releasing small chunks of information, then you will unveil your big launch offer, and that works whether you sell products or services.
For example, let’s say you are an experienced consultant, with a proven track record, and you sell a professional video course that will help people make a living trading, you could do a whooping earlybirds 50% discount for 4 days.
Let’s assume that:
- you already have an audience of 5000 people you can reach by email
- you sell a 1000$ package, which, with the 50% discount can be purchased for 500$ during 4 days
- you manage to convert 2% of your email list during the 4 days
Then, your figures would be 100 customers paying 500$, so that would amount to 50 000$ in 4 days. Not bad is it?
Plus along the way, you’d probably get some momentum and a few more subscribers.
Now, what you really need to do is calculate whether those 50000$ can cover your needs for the time you will have to work.
Now let’s assume that:
- you must make 6000$ a month in your business bank account to pay for your expenses, taxes and your salary
- so the 50 000$ would cover approximately 8 months
So with these figures, it means that technically, during the next 8 months, your cashflow would cover your business, allowing you to create new courses, take new consulting customers, create new products or work a bit less and take some time with your family.
It’s your call, it’s YOUR business!
Launching your business: 1.4. Anticipate
If you know your website will get loads of traffic on launch date, make sure you are prepared and contact your web host in advance to see which solution they offer to deal with it and make sure they make some stress tests.
You don’t want your launch to be remembered as a big technical fail.
Launching your business: 1.5. Press the button!
Time to launch!
Press the GO button and let history begin.
For those of you who have been following along, you’d know one book I’ve really enjoyed is the “100$ Startup” by Chris Guillebeau.
And in the book I love the moment when he describes launching just before boarding a flight and thus not knowing what to expect.
And if you want to know the rest of the story, I’m afraid you’re gonna have to read the book! But that’s good because trust me, this book alone completely changed my mindset and approach to flying on your own.
So that was a simplistic case study in case you already had an audience.
2. Launching your business if you don’t have an audience… yet
Now what if you don’t have an audience yet?
Well, if you are fully ready to launch, your business and marketing plans are rock solid, your branding is tight, your products and services are well packaged and priced and your website and payment system is tested and working, but you don’t have an audience, then follow these three simple steps:
2.1: Step 1: launch now
2.2: Step 2: launch now!
2.3: Step 3: launch now!
Stop waiting, launch, and start creating value for your potential customers as we’ve seen in our previous episode.
The more you wait, the more it will take for you to reach a point when you have an audience that appreciates and trusts you.
Of course, if you have the budget, you could also use advertising to reach a qualified audience, but you’d need to know what you do or outsource to someone that does and make sure you make more than you spend.
But even if you chose the advertising option, you should also build your own audience by creating real value for them, and building a trust relationship, because that’s what will make a difference in the long run.
Would you rather trust someone you didn’t know 30 seconds ago or someone you have a relationship with?
Launching your business: your turn!
So, I hope that this video helped you define your launch date and also consider the fact that whatever you do, you should build or extend your audience.
If you have done great launches or to the contrary failed ones, or if you are struggling with deciding when to launch, please let me know in the comments below.
If you watched the companion video and if you like it, please give it a thumbs up, as it really helps growing the channel and if you know someone that could benefit from it, I’m going to ask you if you’d like to share it now.
Because let’s face it, there are so many things to do in a day that if you don’t do it now you’ll probably forget.
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So, that’s it for this video, I hope to see you around here or on the Youtube channel, and in the meantime, don’t forget to invest in YOUR succes