Start a Business | SmallBiz.com - What your small business needs to incorporate, form an LLC or corporation! https://smallbiz.com INCORPORATE your small business, form a corporation, LLC or S Corp. The SmallBiz network can help with all your small business needs! Mon, 19 Jun 2023 12:38:17 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.2 https://smallbiz.com/wp-content/uploads/2021/05/cropped-biz_icon-32x32.png Start a Business | SmallBiz.com - What your small business needs to incorporate, form an LLC or corporation! https://smallbiz.com 32 32 Want to Start a Business in France? Four Key Tips for American Entrepreneurs https://smallbiz.com/want-to-start-a-business-in-france-four-key-tips-for-american-entrepreneurs/ Tue, 02 May 2023 12:43:07 +0000 https://smallbiz.com/?p=103573 For many Americans, the prospect of France is a romantic one, with hugely popular films and TV series like Amelie, Chocolat and Emily in Paris cementing France’s reputation for glamour, charm and indulgence. But while the appeal of France’s lifestyle and culture is undeniable, the country also offers something that’s less well known – a swath of business opportunities ready to be seized by internationally-minded American entrepreneurs.

With an estimated 4,500 American companies already operating in France, it’s clear that the country is an attractive prospect to American business people, and there is the potential for great success in La République française. However, if you want to start a business in France (or expand there) as a US citizen, it always pays to know as much as possible beforehand in order to plan thoroughly, avoid common pitfalls and give your business the best chance of thriving.

photo credit: Andrea Piacquadio / Pexels

Why France?

As the third-largest economy in Europe (and seventh in the world), there is a long list of reasons why France is so appealing to business people, some of which include:

  • France is a vibrant and diverse nation that boasts a skilled workforce, a large consumer population and access to the world’s largest trading bloc through its membership of the European Union.
  • It is also welcoming and business-friendly, with the French government offering financial incentives to both new and established businesses and investing heavily in research and development.
  • France has a strategically useful location buttressed by a highly developed transport infrastructure, greatly contributing to ease of travel and transit both within and outside of the country. London, for example, can be reached in under 2 and a half hours by Eurostar from Paris.
  • France isn’t only large in terms of its economy – by surface area, France is the largest country in Europe and is made up of thirteen regions that all represent unique opportunities for entrepreneurs. It also borders eight countries and has a Channel, Atlantic and Mediterranean coast.
  • An international centre of business, the Paris region enjoys global status as a major business hub, and is the number one region in Europe for hosting the world’s top 500 corporate headquarters.

Five Tips For Starting Your Business in France

One: Be prepared to navigate bureaucracy 

For foreign company founders from outside the EU, the EEA or Switzerland, there are predictably some i’s to dot and t’s to cross when setting up a company in France, and the process can take some time. That being said, however, France is welcoming enough to entrepreneurs that you may find there are fewer hoops to jump through than you first expect, and there are many resources you can access to ease the process.

Anyone can establish a business in France by taking steps such as registering a business address and opening a bank account in the country, but if you would like to move to France to embark on your new venture you should apply for a long-stay visa known as the “Entrepreneur/Self-Employed” (VLS-TS) temporary residence permit.

Eligibility is determined via factors such as your ability to provide evidence that you will be engaging in an economically viable activity during your stay, and when it has been approved, the visa authorises residence for 12 months. During this time, you are allowed to live in France and engage in the commercial activity that you have outlined in your application.

This will involve a trip to the French consulate, of which there are ten across major cities in the USA. Once established, you will have to register your French business according to the correct category of your enterprise. It is also important to bear in mind that France has particular regulations across various business sectors and employment practices, and that corporate banks in France require minimum capital investments.

Learning a second language

Two: Start learning the language

With a population that has originated in every corner of the globe, multilingualism is not unusual in the USA – one in five US adults speak a language other than English at home, (of which Spanish is the most common). But while the USA has no official language, it’s fair to say that English is the de-facto, and most particularly in the business world.

It is also the case that English is the most widely understood language in the EU, and a significant proportion of Europeans speak English as their second language (with an impressive 25% able to hold a conversation in two additional languages to their mother tongue). What’s more, 39% of French people report they are able to speak English, and many ex-pats move to the country without being able to speak French.

Despite this, it would be wrong to assume that you can easily default to English and thrive while running a business in France. The population of France primarily speaks French in both personal and professional contexts, and the French people have considerable language pride.

English might be widely spoken in business circles, but demonstrating your willingness to learn and use French phrases of greeting will be greatly appreciated, and you should bear in mind that proficiency in English is not a given. Over time, many ex-pats discover that shaping up their French language skills is key to taking advantage of everything the country has to offer.

You should also account for the fact that French is the only accepted language for official documents and contracts, and as 61% of French people don’t speak English, you will need a plan for smoothing over language incompatibilities in your business operations.

Three: Consider your new audience

In many important ways, France is not vastly different from the US, but it is still important not to underestimate cultural differences when setting up or expanding a business here. While certainly smaller than the US, it’s also important to remember that France is far from small by European standards, and like the differences between US states, there is significant regional variability across the country.

Whether it’s something simple such as the greater prevalence of smoking amongst French adults (around 33% versus 12% in the US) and the lack of a widespread tipping culture, or more complex subtleties in language, politics and history, there are many things that may be surprising about France as an American. This is why we would suggest seeking the advice of those who know the country well in many points of your business to understand how it may land with a French customer base.

There are also differences in laws and regulations which may affect your business, so it’s always worth doing thorough research as you draw up your French business plan to identify and account for factors which may not apply in the USA.

Business workshop

Four: Understand France’s working culture

American working culture is rather set apart from its European friends, with US citizens generally working longer hours, having less vacation time, and eating lunch (if they don’t skip it) at their desks. It also isn’t unusual for people to take calls and answer emails outside of work hours, and employers tend to have more flexibility when it comes to hiring and firing.

The French, on the other hand, tend to have a more leisurely pace of life which is facilitated by both government-mandated workers’ protections and the expectations of their working population at every point of the pay scale. This may take some adjustment when running a business and is something you’ll need to plan around – but the upside is, if you have chosen to live in France, you’ll get to enjoy this slower pace of life too!

Some things to take into account regarding French working culture are:

  • The French will take their lunch break away from their desk, so unless you organise a specific lunch trip, this is a bad time for calls, meetings and emails (if you need an immediate response).
  • They don’t only have significantly more holiday entitlement than Americans usually enjoy, they actually take it (whereas the average US employee who receives paid vacation only actually takes 54% of the allotted time each year.) This is usually most evident in July and August, when business slows down considerably, and as many employees will book more time off around public holidays, it pays to plan around these times of year.
  • Since 2017, managers and employees of companies with more than 50 staff have not been required to answer emails outside working hours, and employees in smaller companies are likely to follow suit.
  • French corporate operations are, for the most part, very hierarchical. When doing business with another company, take the time to understand the chain of command to ensure you are talking to the right people in order to get results.
  • Hiring in France is an expensive proposition. Employers must account for high individual taxes when determining employee wages and the slate of employment benefits they are expected to provide. While these costs are high, however, people doing business in France tend to be repaid with a skilled and secure workforce.
  • Networking is often key to success in the French business world, with personal recommendations often meaning more than accolades and titles. Forging business relationships in France can be more difficult than in America (although the collaborative nature of American business may give you a ready-made advantage), but they tend to last for a long time, making them well worth the effort.

There is a world of opportunity to be discovered by American entrepreneurs who take the plunge and start a business in France, and with proper research, a comprehensive business plan, and that famous American work ethic, success à la française can be well within your grasp.

This post was written by Katya Puyraud, a company formation expert at EuroStart Entreprises, who help entrepreneurs start a business in France and take the headache out of opening a company abroad.

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How to Prepare Financially for Starting a New Business https://smallbiz.com/how-to-prepare-financially-for-starting-a-new-business/ Tue, 21 Feb 2023 13:06:38 +0000 https://smallbiz.com/?p=90686 Today’s digital world has reduced the barrier to entry for entrepreneurs significantly. Thanks to online store builders and numerous online payment processors, virtually any innovator can launch a company selling products, services, or solutions online. However, a lower barrier to entry doesn’t necessarily mean you won’t have to prepare to launch your new company.

In fact, there are several crucial steps you’ll need to take to ensure you’re not only setting your new venture up for success, but also reducing your risks of encountering numerous problems along the way. One of the most important things you’ll need to do is ensure you’re financially prepared to bring your new idea to life.

So, where do you begin on your path for financial success?

Get Your Personal Finances in Order

When most would be entrepreneurs start exploring opportunities to launch their own business, they spend time thinking about how they’re going to find sources of investment and startup capital. While it’s important to consider all your options in this regard, it’s also worth noting you need to get your personal finances in order too. The chances are you’ll be responsible for contributing most of the cash your business needs to get up and running yourself.

With that in mind, it’s worth looking for ways to free up some extra cash in your budget. If you have outstanding student loans, refinancing by utilizing NaviRefi can be a great way to reduce your monthly expenses with more favorable terms. It could also mean you’re able to improve your credit score, and pay off debts faster, which could make you more appealing to banks and companies offering loans.

Search for Financial Support Options

Once you’ve sorted out your personal finances, the next step is looking for sources of capital and support that will help you to get your business up and running.

There are numerous ways to approach financing your own business. You could consider bootstrapping most of the venture yourself, with your own savings, and support from friends and family members. You can look to opportunities to work with stakeholders or investors who might take a portion of the equity in your business in exchange for funding. You could also investigate partnering with another professional in your industry who can offer their own financial support and additional expertise. Other options can include everything from crowdfunding, to looking into business grants.

Analyzing policies

Use Technology to your Advantage

One of the best ways to make sure you’re adequately prepared to run a successful business from a financial perspective is to ensure you have access to the right tools and technologies.

Bookkeeping and accounting tools are extremely useful for tracking your incoming and outgoing costs for tax purposes. They can reduce your risk of falling victim to fines and other unexpected costs. Additionally, these tools may even be able to help you save money, as they’ll allow you to create financial reports and documents yourself, rather than relying on an expert you’ll need to pay by the hour, at top dollar prices. In some cases, the right tools can also provide you with the behind-the-scenes insights you need to make intelligent decisions on how to grow your business.

Stay Informed

Finally, when it comes to preparing yourself to run your own business, it’s important to ensure you know how to stay informed and up to date from a cashflow perspective. Focus on regularly assessing your incoming and outgoing expenses, so you can pinpoint opportunities for generating new revenue and reducing costs whenever possible. The more time you devote to monitoring and managing your cash flow, the more likely it is you’ll be able to avoid common mistakes which cause other businesses to end up closing their doors before they’ve had chance to make a real profit.

Remember, committing to good financial health is a long-term strategy. If you’re struggling, it’s always worth considering hiring an expert who can assist you with your accounting and projections.

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Starting a Business in 2023? Here’s What You Need to Know https://smallbiz.com/starting-a-business-in-2023-heres-what-you-need-to-know/ Fri, 13 Jan 2023 13:24:08 +0000 https://smallbiz.com/?p=83017 Thinking of starting a business this year? You’re in good company. In fact, 2 out of every 5 Americans plan to launch their own business in 2023. Of those, 32% will live the entrepreneurial dream for the first time. If you’re new to business ownership, there’s a lot to consider, but don’t let that put you off.

We’ve got the tips you need to start the year (and your new business) off right.

photo credit: Karolina Grabowska / Pexels

Find Funding Right Away

One of your biggest questions before you begin is likely, “How am I going to pay for this?” Depending on your personal finances, you may be able to self-fund part of your business’s startup costs, but you’ll probably need some (or a lot of) support along the way. Wondering how to secure funding? Let’s dive in.

Grants

Everyone wants free money, but be warned: The competition for business grants is fierce. Grants don’t have to be repaid, but the application process can be tough. However, it’s always smart to look for grants for which your business might qualify. Check with the U.S. Small Business Administration and your local Chamber of Commerce and other nonprofit organizations that support small businesses.

Traditional Loans

Bank loans are a straightforward way to secure funding for your new business. However, you still have to go through the approval process and find a repayment plan that works with your current finances. To get the best rates and ensure approval, it helps to have registered your business as a legal entity (more on that in a bit), to have a dedicated business checking account, and to have evidence of clearly separated business and personal finances.

Small Business Credit

Similar to a credit card, a small business line of credit allows you to borrow a certain amount and repay it over time. Like a loan, you’ll have to go through a similar approval process, but be aware that interest rates aren’t always as favorable, so you may end up paying much more.

Investors

If you need a lot of funding you don’t want to pay back and are willing to share profits or give up an ownership stake in your business, you could look for an angel investor or venture capital fund. There’s a lot of competition out there, so you might benefit from looking into platforms that pair startups with investors, such as FundersClub and Wefunder.

Crowdfunding

Crowdfunding takes your great business idea directly to the people. You can start by simply asking friends and family for support or using a crowdfunding platform like Indiegogo, Patreon, or SeedInvest.

Protect Your New Business With a Legal Entity

Once you’ve made a plan to fund your business, it’s time to take one of the most critical steps in making your business legitimate: filing for a legal business entity. While it isn’t technically a requirement — and you can operate your business as a sole proprietor without a legal structure — it’s always the recommendation for new business owners. Why? Because registering your business comes with many benefits, including:

  • Liability protection that keeps your personal assets safe
  • Ease of securing funding, business bank accounts, credit cards, and more
  • Protection of your privacy and personal information
  • Legitimacy that makes your business more trustworthy and appealing

While you can choose the business entity that best suits your needs, the most common is an LLC. It’s valued for its flexibility, cost-effectiveness, and low compliance requirements. There were 5.4 million business formations registered in 2021, the most recent year on record — more than any other time in history.

Business brand building

Start Building Your Brand and Online Presence

Your next step to get closer to launching your business in 2023 is to focus on creating a brand that is trustworthy and recognizable. And, of course, the best way to do that is to create an online presence.

Conduct Research

First, you’ll want to learn as much as you can about what you’re getting yourself into. For most businesses, that means digging into the research on three key areas:

  • Your customers
  • Your market
  • Your competitors

The best way to start your research is online. Search for trends in your industry, follow the competition on social, and pay special attention to what customers are saying about these rival brands.

Protect Your Brand

You’ve already made a huge step in reducing risk by filing as a legal business entity, but there are other ways to keep your brand from being poached by competing businesses. Look into registering a trademark for your name, logo, or even slogan. A trademark is the only surefire way to keep other businesses from using your intellectual property.

Build Your Website

Recent data shows that 71% of small businesses have a website. It doesn’t matter if you’re planning on an ecommerce business or not — to really thrive, you need a website. Websites help your business get found, build your reputation, and help your business succeed. You don’t need to hire an expensive developer, though — you can typically DIY your website with a platform like Wix or Squarespace.

Get Social

Just like having a website, being on social media is a must. One of the key ways to get new customers is to hang out wherever they are. And in this digital age, that’s on social media. Choose the platforms where you’re most likely to find your ideal customers, then see how your competition is engaging with them.

Entrepreneur learning growth strategy

Stay Up on the Latest Swings in the Economy

To ensure your business’s success, you need to stay ahead of the forecasts for the economy in 2023. Nothing says you shouldn’t start a business in the year ahead, but it pays to be prepared. For 2023, the Harvard Business Review is predicting a bumpy ride, thanks to inflation, high interest rates, and overall uncertainty.

While growth is forecast to be sluggish, markets are still up, and actions taken by the federal government could work to reduce inflation and retain jobs, putting the U.S. on a trend toward economic recovery and growth.

There are plenty of uncertainties that come with starting a business, but there are countless benefits as well. With the right planning and preparation, you can make 2023 the year you achieve your entrepreneurial dreams.

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Want to Start a Business? Read This First for a Reality Check! https://smallbiz.com/want-to-start-a-business-read-this-first-for-a-reality-check/ Wed, 10 Aug 2022 12:55:51 +0000 https://smallbiz.com/?p=72496 Are you going to start a business and looking for some ideas and tips? Well, you are reading the right blog post, as I will tell you what you might not want to hear, but at the same time, I will give you some reasons why you want to start a business you love – with the right mindset.

I’ve heard some cynical comments about entrepreneurs and entrepreneurship; one comment says that entrepreneurs are, well, becoming one because they simply can’t get a real job. Another one says that entrepreneurs are a group of people who use their parents and/or everyone else’s money to start a business and have fun with it without thinking of returning any of it.

Some say that entrepreneurship is easy – just get a product people want and sell it for a profit. Right. Some say that entrepreneurship is overrated – you won’t make more than a decent paid job. Right.

It’s sad, really… those naysayer just don’t realise that entrepreneurs and small business are two of the most prominent factors that make the economy moving. Just ask the mentors and experts about what a community could do if small business is not supported by the Government: Crippled. Then the butterfly effect kicks in, and eventually the whole economy of a nation is brought down just because investors, entrepreneurs and business owners are not well-supported.

Yet successful entrepreneurs thrive despite all the unfavourable policies, the naysayer’s boos and jeers, and the non-supportive friends and family, who laugh at their ideas of starting a business out of their garage.

If you are considering entrepreneurship, are you ready for such pressure? You will somehow face people who question your decision jumping into the entrepreneurship bandwagon. The worse part is, those who doubt you often your closest ones – your spouse, your parents, your friends…

Are you ready?

Startups are not for the faint-hearted

We can’t deny the fact that many startups are bound to fail. Well, did you know why many startups fail? There are thousands of reasons, but one of the reasons that I think as the main cause of startup failures is false hopes.

If you are thinking of running a business as traveling all over the world at will, riding a limo sipping champagne, or doing whatever you like in your pajamas or swimming suit – I apologise, but I need to pop your balloon.

Stop dreaming. Start looking into the reality. Entrepreneurship is not easy and if you don’t have what it takes to get a business launched and navigate your vessel through the storm, you’d better get a job.

Entrepreneurship requires to be able to juggle and decide on many things: Balancing your work-life; deciding from many strategic options; choosing between a list of suppliers; and so on. Initially, you need to be able to wear many “hats” – bookkeeping/administrative, marketing, development, production, procurement, and so on.

You need to be open-minded and be prepared for open-ended outcome of your decisions; you need to be ready for any circumstances requiring you to re-focus and re-strategise in the middle of your plan.

And those perks you are having while working for a boss, you don’t have them when you are an entrepreneur: Paid leave, managed retirement planning, and so on. You are literally on your own, supporting yourself with your own resources.

Whether you are a solopreneur or the owner of multi-business ventures employing thousands of staffs while running yours while having fun doing so (like what Sir Branson is doing,) “hard work,” “perseverance” and “delayed gratification” are three of the main “keywords” defining all what entrepreneurs are doing.

Indeed, entrepreneurs are hard worker and passionate about their business. What keep them going is their passion for what they do and their love for everything entrepreneurship, starting up and business ownership.

Entrepreneur dealing with self-doubt
photo credit: Andrea Piacquadio / Pexels

If startup is so difficult, why people are doing it?

Yes, this question is asked by many who are interested in entrepreneurship. This question might be your question.

It’s a fair question: With all the hurdles you need to take on if you are plunging yourself into entrepreneurship, why bother starting up?

There are many answers, but if you asked me, my answer would be this: I love this game.

I love the search of business ideas. I love the many sleepless nights working on my business to see it grows steadily. I love the possibility for me to create something useful for the community – while giving me the lifestyle and financial independent I want for my family. I love the ups and downs of running a business – sure, failing sucks, but I can learn a great deal from it personally and professionally.

I wouldn’t trade what I am doing right now (work at home, surrounded by the people I love) with any high-paying jobs requiring me to work 12 hours a day or more; I love the freedom money can’t buy. I love a business that is built around my lifestyle, not the other way around.

Of course, I don’t love ALL aspects of my business: I don’t fancy the back office operations – bookkeeping, administrative and so on – but you can always hire someone competent to do those for you 🙂

Takeaway

Indeed, entrepreneurship is one of the most risky careers of all. Well, if you want safety and security, just get a job. But if you love the unknowns and embrace risks, entrepreneurship is a path worth walking; it’s rewarding in every sense – financially and emotionally.

So, now you know some facts about entrepreneurship. I do hope you can start a business with the right mindset; I also hope you start your journey with humility; being passionate without arrogance; taking calculated risks, not gambling; eagerness to help others when you have finally reached the top; acknowledging the fact that without God and those people around you – friends, family, fellow entrepreneurs, mentors, investors, etc. – you won’t go far.

Dream big. Start small. Just do it, seriously!

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4 Tips for Starting an Industrial Business https://smallbiz.com/4-tips-for-starting-an-industrial-business/ Fri, 20 May 2022 16:02:22 +0000 https://smallbiz.com/?p=64436 The industrial sector is a broad category that covers businesses involved in the manufacturing, production, and distribution of goods. Small industrial companies are growing across the country and there are many opportunities for entrepreneurs to get involved in this sector.

As with any type of business, there are certain things you need to do to set yourself up for success. Here are four tips for starting an industrial business:

photo credit: Pixabay

1. Do Your Research

Market research means figuring out who your target customers are and what they want or need. There are a number of different ways to do this, but some of the most common include surveys, interviews, focus groups, and observation.

Surveys can give you a good overview of customer opinions while interviews or focus groups can help you to delve deeper into specific issues. Observing potential customers in their natural environment can also be helpful in understanding their behavior and needs.

2. Choose the Right Niche

When it comes to starting an industrial business, one of the most important decisions you’ll make is choosing the right niche. There are a number of factors to consider when making this choice, and it’s important to do your research before settling on a particular industry.

First, you’ll need to identify the needs of your potential customer base, such as the products or services they need. Once you have a good understanding of the market, you can then start to narrow down your options. Consider the competition in each niche and decide which one offers the best opportunity for success. When making your final decision, it’s essential to choose a niche that you’re passionate about.

3. Create a Business Plan

In today’s competitive marketplace, it’s more important than ever to choose the right niche for your industrial business. When you specialize in a specific industry or type of product, you can better meet the needs of your target market and stand out from the competition. How do you know what niche is right for your business? Here are a few things to consider:

First, think about your strengths. What does your company do better than anyone else? What unique skills or experience do you bring to the table? Use these strengths to narrow down your focus and choose a niche that you’re passionate about.

Next, consider your target market. Who are you trying to reach with your products or services? What needs do they have that you can address? When you choose a target market and understand their needs, you’ll be better able to choose a niche that meets their demands.

Finally, don’t be afraid to experiment. Trying new things is essential for any business, so don’t be afraid to test out different niches to see what works best for you. By keeping these tips in mind, you can be sure to choose the right niche for your industrial business.

Engineers work with industrial printer

4. Optimize Your Processes

Through industrial control engineering, you will be able to identify opportunities for improvement and design solutions that achieve the desired results. In many cases, these solutions involve the use of automation and other advanced technologies.

By optimizing industrial business processes, industrial control engineers can help to improve efficiency and increase productivity. In addition, they can also help to improve safety conditions by reducing the potential for accidents. As industries continue to grow and become more complex, the demand for qualified industrial control engineers is likely to increase.

Endnote

With an increased demand for industrial operations and manufacturing, there has never been a better time to start an industrial business. By following these four tips, you can be sure to set your business up for success.

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The Keys to Podcasting Success in 2022 https://smallbiz.com/the-keys-to-podcasting-success-in-2022/ Mon, 10 Jan 2022 14:08:00 +0000 https://smallbiz.com/?p=53604 Podcasting Industry Growth Means Opportunity

According to data from Buzzsprout, the podcast industry has grown significantly—from roughly 60,000 shows in 2014 to more than two million today.

But this massive growth doesn’t mean prospective podcasters have missed the boat. Far from it. The podcast industry is still growing.

Plus, a lot of the people who started podcasts in early COVID have dropped off. That means a lot of listeners are out there right now, looking for their next show.

Which means an opportunity for you, aspiring podcaster—or existing podcaster who wants to up your game and grow your show.

Podcasting is still very much alive, with listenership projected to grow steadily for the next few years. Image courtesy Buzzsprout.

For Podcasters, Consistency Is (Still) Key

The key to taking advantage of this podcasting opportunity is consistency.

As one example, Pat went live on YouTube every day for a year with the Income Stream show.

You don’t have to do the same thing with your podcast (and we wouldn’t recommend it!).

But in general, the more you show up for your audience, the more you’ll become a part of their life and tuning in to your show will become a habit for them.

Not to mention, all that practice is going to make you a lot better at creating your podcast content.

So how consistent should you be, at least at the start of your podcasting journey?

The podcasts that Buzzsprout sees sticking with it are the ones that make it past the ten-week mark.

“Once they hit that ten-week point,” says Alban Brooke, “it’s a game-changer for whether or not they stick with it long term.”

That’s why he tells people to start by committing to releasing an episode every week for ten weeks. Succeeding with that will put you in a group of roughly 600,000 active podcasts that have produced at least ten episodes.

Growing Your Podcast Audience Takes Active Marketing

What if you’ve pushed through your first ten episodes, seen some early growth, and… that growth has slowed, or even stagnated? A lot of podcasters find that an early growth spurt leads to a frustrating plateau.

Unfortunately, a lot of podcasters—and content creators in general—also take an “If you build it, they will come” approach.

But that won’t work today. You have to actively market your show.

Here are some strategies that can help you push your listenership back on the incline slope.

Strategy #1: Getting Exposure on High-Growth Video Channels (Instagram, TikTok, YouTube)

A number of successful podcast creators have grown their shows by sharing content on high-growth channels like TikTok, Instagram Reels, and even YouTube. They’re leveraging the algorithms on these channels to get exposure they can redirect to their podcast.

The basic strategy is to create a short piece of video content that borrows from your podcast episode, then invite viewers to the podcast to hear the full story.

Once in a while, one of these videos may even go viral. You can find case studies about podcasters who have gained thousands of new listeners based on just one viral TikTok video or Instagram Reel.

And a number of famous podcasters have used YouTube clips to attract listeners and then direct them to their podcast feeds.

Senior man wearing shirt,waist and flat cap starting old-fashioned film projector. He is placed on the left side of the frame. Smoke and light beams come out of the projector lens. The photo is black and white and has horizontal composition.
Want your podcast to take off? Might be time to get in front of the camera.

The key is that the video content has to be related to the podcast episode you’re driving people to. You need to tell a story that’ll hook people in to want to hear the rest of the episode.

It sounds simple, but you’d be surprised how many creators get tripped up by not following this crucial point.

How do you pick a high-growth platform to pull off this strategy? Alban always encourages creators to find the platform they understand and feel comfortable creating content that will perform well on it.

Strategy #2: Guesting on Other Podcasts

It helps to remember the big principle behind successfully growing your show, which is finding audiences that don’t know you already.

Repurposing your podcast episodes and putting them on your Twitter or Facebook feed is fine, but by and large they’re going to be seen by people who already know you exist.

So how do you get your podcast in front of new ears?

Guesting on other podcasts is a tried-and-true and still very effective option. (If you’re looking for a way to scale your podcast-guesting outreach, we like what Podcast Hawk has to offer.)

Woman radio host recording podcast using microphone wearing headphones interviewing guest sitting across from her.
Being a guest on other podcasts is a tried-and-true strategy for growing your listenership.

Another is including your podcast episodes in blog posts on your site, which helps people find your show via Google’s search algorithm.

If you write a blog post about a topic you’ve already covered on the podcast, link to that episode in the post itself.

Like this!

Strategy #3: Paid Advertising and Sponsorships

What about paid acquisition? Is it something podcasters should be thinking about?

The short answer is yes, and there are two main strategies here: paid ads and sponsorships.

Paid ads are definitely a viable strategy for growing your show. Just know that there’s a right way, and a wrong way to do it.

The wrong way is to put ads directly on Facebook or Google and hope that a cold audience will start clicking and listening.

The experts at Buzzsprout have never seen anybody successfully grow a podcast that way. There’s just too much friction in the way of getting someone from the ad to your show.

As Alban says, they’ve “only seen people lose a lot of money” this way.

So how do you reduce the friction and do podcast ads the right way? The key is to advertise on apps that already have a captive audience of listeners—apps like Overcast, Pocket Casts, and Podcast Addict.

You could also look into sponsoring another podcast—paying a fellow podcaster to give you a shoutout.

Trying this on some of the bigger shows could get expensive, but there are a lot of small, fast-growing podcasts looking to monetize that might be a better fit.

For a deeper dive on monetizing your podcast, check out this post by Heather Osgood of True Native Media on getting started with podcast ads.

How to Reduce Podcasting Overwhelm and Avoid Burnout

As content creators, consistency is key. But burnout is also real.

That’s why you need to set a game plan for creating and marketing your show that’s sustainable.

A lot of people hear stories of the most successful content creators—like John Lee Dumas, who started Entrepreneurs on Fire by doing a daily show—and they think I’ll do the same thing. But that just doesn’t work for most people, especially if you’ve got a full-time gig or have kids at home.

Portrait of young male radio host in headphones looking tired, exhausted, drinking coffee while getting ready for broadcasting in studio. Horizontal shot
Don’t let burnout get the better of your podcasting dream.

So find a content creation cadence that fits your life, and that you’ll be excited to do. For a lot of people, allocating one day a week to creating your episode is a good choice.

Since “If you build it, they will come” doesn’t work, you also need to carve out time for marketing. There’s almost always more you can do to market your show, but start with putting just an hour aside each week for marketing.

If you’re on TikTok, maybe that means spending an hour making a video to promote your latest episode and engaging with people on TikTok. If you’re on LinkedIn, it’s writing a post that ties into the content in your episode.

Start small, and stay consistent.

Engage with Your Listeners and Build Podcast Superfans

Podcasting is a long game. The podcasters who stick with it for years are most likely to find the success (and download numbers) they’re looking for.

The average new podcaster, though, is getting roughly thirty-seven plays per episode. That may sound small, and it is.

But small can be mighty.

That’s because each of those thirty-seven people is a real human being. And one of the superpowers you have when you’re small is that you actually can engage with every one of them.

Ask people to reach out, and then honor it when they do. If someone sends you an email, mention it on the podcast. If you get a positive review, read it on the air and thank the listener. If a fan posts something about your podcast on social, like it and thank them for sharing it.

Elevate your superfans. Connect with them and learn more about them, so you can better serve them and attract more just like them.

Learn More about What Makes a Podcast Successful in 2022

Join us live on YouTube on Tuesday, Jan 11 at 12 PM PT/3 PM ET for OPEN Podcast #1, where you’ll learn strategies for creating powerful podcast content in 2022. Pat Flynn and guests will share what’s working now to keep your podcast listeners coming back for more.

neon sign reading OPEN Podcast Presented by SPI

By the way, a lot of the insights in this post were taken from Pat Flynn’s conversation with Alban Brooke, head of marketing at Buzzsprout, during SPI’s first Audience Driven Summit in October 2021, our two-day deep-dive into the most effective, relevant ways to build an audience today.

Click here to watch the recording of Pat’s full conversation with Alban.

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How To Start Your Own Café https://smallbiz.com/how-to-start-your-own-cafe/ Mon, 03 Jan 2022 09:37:49 +0000 https://smallbiz.com/?p=53047 Do you want to start your own café that represents your vibe and is your place of sanity? Well, then this article is only for you. In this writing, we talk about all the steps that you must keep in mind when you want to start your café. Want to make your dreams of a café come true? What are you waiting for? Now is the time for you!

Make a business strategy.

A detailed business plan is an essential initial step in the process, irrespective of the sort of small business you intend to create. A strong business plan examines your business, its market, and its plans for the future over several years. It’s comparable to getting a “road plan” to success. It also acts as your main “sales pitch” to potential investors and lenders.

Writing a business plan is one of the most crucial phases you’ll take toward opening your coffee shop. This article outlines:

  • What is your company’s mission and who it serves?
  • What will make it profitable?
  • Your intended audience (primary customer demographics)
  • Your adversaries
  • Projection of sales and revenue
  • Goals and milestones

When writing down your plan, make sure you are keeping track of the following details.

  • The executive summary is where you describe your company’s vision.
  • Provide an overview of your company and the service it delivers to its market in the General Company Description.
  • Products and Services, in which you describe your one-of-a-kind product or service in-depth.
  • A marketing plan explains how you’ll get your product in front of customers.
  • The operational plan outlines how the business will be run on a day-to-day basis.
  • Management and Organization, in which you describe your organisation’s ideology as well as the culture that guides it.
  • Financial Planning, in which you are required to explain your financial model and the funds you require from investors.

Choose the most suitable location for your coffee shop.

start your own café

You’ll need the ideal setting for your coffee shop to be successful. You’re searching for something that meets the following criteria:

  • The cafe is conveniently located and easy to find.
  • It’s highly visible and gets a lot of foot traffic.
  • A location that represents your vision

Keep in mind that decent restaurant locations are in high demand and difficult to come by. It may demand some time to get just the correct place, but for a business that benefits from easy access and casual visitors, it was well worth the effort.

Spend some time in the locations you’re considering before making the decision. Keep an eye out for the number of people walking around and how much parking is available. Is the place appropriately visible?

Is there sufficient foot traffic to keep your café afloat? In terms of demographics, what does the location mean? What types of activities does the local community appreciate? Do you even have a lot of other cafés nearby, or do you have your own small alleyway?

Keep in mind that you’ll be consuming a lot of time here, so you’ll need to be sure you already know what makes the locals tick. It’s also critical to comprehend the intricacies of the retail lease since the conditions of this contract will have an impact on your company’s profitability and resale worth in the future. Before you sign anything, consult a lawyer who understands retail leases.

Find The Best Suppliers

start your own café

Finding good, dependable suppliers is important to any company’s performance. Coffee, milk, bread, fresh fruit, and groceries are usually the major suppliers, depending on the type of café you’re starting. Cups (both paper and porcelain), tablecloths, coffee stirrers, teacups, syrups… the list goes on and on.

Create a list of all the supplies you’ll need, being as precise as possible. Although the list may appear daunting at first, getting down to the fine gritty (from pastries to napkin holders) can ensure you’re ready for anything.

Not only the foodstuffs, but you must also concentrate on the furniture such as tables or chairs. You can get a custom cafe chair built, which will add a unique touch to the space. After that, you can begin looking for providers until you find the ones you like and who fit your company’s philosophy. Make sure you get all the listed products.

  • Utensils – teacups, teapots, spoons, plates, and many more.
  • Furniture – Tables, chairs, stools, Coffee Tables & Cafe Tables
  • Decor – wall hangings, table cloths, pictures
  • Food supplies – tea leaves, coffee beans, muffins, cakes, chocolates, milk, fruits, vegetables, eggs, bread
  • Machinery – coffee machines, stove

Design the café and give it a character

start your own café

Your café’s design is very important for attracting clients and luring them back. Your concept will be strongly influenced by your target audience. Will it be modern? Retro? Advanced? Family-friendly? Health-focused? Recognize your customers’ preferences and build your café accordingly.

Again, don’t strive to please everyone; sticking to one theme will result in a much stronger identity. Consider the design of the storefront, its signage, the furniture, and the lighting. Examine the layout’s efficiency from the standpoint of both employees and customers. Is the barista able to work properly in the available space?

Listed below are some theme ideas for your cafe:

  • Rustic Coffee Shop – It has an interior decor with a number of old school decor combined with natural raw elements and materials like plants, wood, and bricks.
  • Indoor Garden Cafe – These kinds of cafes give the people some fresh air, and if you combine these greens with an ample amount of sunlight by coming in through large glass windows and doors, you can generate a very organic and feel-good ambience.
  • Vintage Classics – These theme ideas for your cafe are inspired from any of the historical era or a generation of individuals – the 40s, 50s, 60s or some other decade.
  • Industrial Style Cafe – This theme is inspired by abandoned warehouses, factories, and other industrial spaces.
  • Fashion Icon Theme – A fashion cafe theme pays tribute to a few of the most celebrated fashion brands or icons we’ve seen on the planet.

Conclusion

We hope that these ideas will be sufficient for you to start your dream café. Here are some additional factors to look for, like is your team able to scurry across the room? When customers walk into your coffee shop, will they understand how to order? We understand that hiring a professional interior designer is expensive, but it can genuinely tie together everything. A pleasant ambiance and a smooth workflow are essential, and a skilled designer can make a difference to your café.

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