To start a company that is going to grow into a billion dollars business is not easy. Uber is worth more than $120 billion today and Whatsapp was acquired at $19 billion and is approximately assumed to worth more than $50 billions today. It’s a simple chatting app, but it got the founder rich and did not necessarily cost him a limb to start.
Time has changed
Businesses before were about being able to provide something for everyone across the world, a standardized service quality that will keep customers feel secure about coming back to you for your service or products. That is why international coffee shop chains like Starbucks is known everywhere, but today, people are more focused on personal preferences.
They want services and products specially catered to them. That is where people find their chances to slip into the niches target markets and grow into something everyone is talking about. Don’t go blindly promote to everyone, but set a specific target market.
Make use of social media
The cheapest media to promote yourself is available at the tip of your fingers. From Twitter to Instagram, you have many ways to get yourself out there and let people know what you are providing them.
Meetup with potential partners
Do you know people who would be interested in your business? Find them. Get yourself sponsors who are interested in what you do.
Don’t be cheap
You don’t want to go broke, does not mean that you are reluctant about investing your own money into the capital. A little success cannot go about without a little sacrifice from yourself. Jack Ma did not succeed with his Alibaba before learning from his two other big failures before. Know your risks and what needs to be sacrificed before you spend.