If you want to start a business, but you haven’t yet chosen a business launch date, now is the time! In this article, I’ll be explaining 5 reasons to set a business launch date as soon as possible.
It’s likely if you are here, you want to be a business owner. You have a product or service that you know people need but you haven’t gotten it out there yet. So how do you get it to customers?
First step, pick a launch date. You might be thinking what is a business launch? And why do I need one?
Your launch is your grand entrance into the world, and the first impression that consumers will have of your business. It’s an exciting time for you as a new business owner and for customers as well.
A launch date is just as important as the product. You want to do it right, and in this article I’ll discuss 5 reasons why it’s important to choose a launch date for your business.
- 1 1. Setting a launch date is being intentional
- 2 2. Launch dates can clear your schedule and make time to begin something new.
- 3 3. Launch dates get customers excited about your product and helps build anticipation for your launch.
- 4 4. It helps you to get clear about your budget and decide how much you can invest into starting your business.
- 5 5. And, it holds you accountable.
- 6 Conclusion
1. Setting a launch date is being intentional
Setting a launch date means that you have a clear purpose for your business. You may have had this idea for a long time, so what’s been stopping you from moving forward?
It could be as simple as taking the leap to set your launch date. It can be intimidating to do, but when you take the time to write down what you want, you’re more likely to achieve it.
First, it’s important to get clear about your goals.
- When do you want to launch?(be realistic but remember that the soon you launch the sooner you start to make money)
- What do you need to launch? (rent a storefront, build a website, social media accounts, advertising, staff etc..)
- How much will you spend on advertising?
- Who will you be helping? (who are your perfect clients?)
- How much do you want to make monthly? (here is a calculator to help you)
You can use our Business Planner to help you get clear about your goals and the tasks you need to do to launch your business.
2. Launch dates can clear your schedule and make time to begin something new.
By having clear goals and plans, you give yourself more freedom to do what you want with your time. People tend to think that schedules lock you down but really they give you more control.
You have less wasted time which means you also waste less money. Because time is money when you are an entrepreneur. As a new business owner you’ll want to make the most of your time so that you are able to see the most profit.
When you set a launch date you are able to set milestones needed to successfully launch. Then you can lay out a clear schedule to complete the milestones based on your launch date.
Remember this is why it is important to be realistic with setting your launch date. If you need to rent a storefront then launching in a month probably isn’t realistic depending on your business.
For brick and mortar businesses I recommend giving yourself a couple months to launch. While online businesses can be up and running much quicker depending on how much social hype you want to create. You could have an online storefront in a little as a month with the right planning!
Overall setting a launch date pushes you to set out a plan. This planning helps reduce stress, can make you more focused, and also gives you time to work on other projects.
3. Launch dates get customers excited about your product and helps build anticipation for your launch.
Business launches are an exciting time for both customers and business owners. Customers always love to check out something new. And you can use this natural interest to your advantage as a new business owner.
I know that when I’m browsing online or even in a store I notice a new product simply because the word NEW grabs my attention. I’ll at least take a look to check it out.
It’s important to make these first impressions to clients be positive and memorable. A good first impression can turn a one time customer/client into a lifelong relationship.
But there are also ways you could build excitement and interest before you even launch so that customers are lining up for your product or services come launch day.
Here are some ways to build engagement and excitement with customers online:
- Offer exclusive teasers in exchange for email
- Build an exciting website with email signup form
- Hold giveaways on social media
- Facebook Ads
- Google Ads
- Brand yourself
- And more!
Building a website can be a very cost effective tool for a new business owner. I recommend you create a WordPress website. You can register your domain name and start building your website in minutes!
I use Bigscoots to host the How to Entrepreneur website. They offer very reliable service with very little downtimes and they specialize in website speed for websites of multiple types.
Once you have your website set up and content on there, you should start sharing your posts on social media, and potentially, even sharing other content, so you can build an audience of like-minded people on social media.
You want to think about offline the same as online. Target customers who need your business. Look for opportunities to expand your brand awareness, such as handing out business cards or hanging flyers. Imagine who your ideal client would be and where they would hang out. That is where you want to get the word out about your business.
Grabbing a customers attention can be one of the most difficult challenges as a new business owner, but if you use the momentum and excitement of being NEW you can work it to your advantage.
4. It helps you to get clear about your budget and decide how much you can invest into starting your business.
You might be wondering how setting a launch date can decide what your budget is. Well once you set your launch date then you have to think about what needs to be done to successfully launch your business.
You will have to break down how much you need to spend on each task, and most importantly how much you’re able to spend.
And don’t forget about the cost to run the business as well. These are the most important components that should be included in your business budget:
- Income sources
- Fixed Expenses
- Variable expenses
- Working Capital
- One-time Spends
- “Just in Case”
There is lots to take into consideration when setting a launch date. You may have to possibly offer a limited line of products or services so that you can open sooner. Sometimes getting into the market quickly can make or break a new business depending on what your business is. If there is a race to get to market then you may find that the sacrifices are worth the benefits in the long run.
In a previous article, I talked about how to create a business budget from a general standpoint. If you’ve never created a business budget before you should check it out.
5. And, it holds you accountable.
“At the end of the day we are accountable to ourselves – our success is a result of what we do.”Catherine Pulsifer
Setting a launch date is a lot like setting a wedding date. Once it’s set and you get the invites out then it’s official. Your guests get excited about the big day much like customers awaiting a new product launch or business opening.
And I get it, setting a launch date can be intimidating. But you didn’t come up with your business for no reason. Accountability goes hand in hand with a successful business. Like discussed earlier, use this exciting time to your advantage. You can use your business launch progress to get your future customers excited about you.
Don’t be afraid to share your business story and have your customers follow along with you.This alone will help you stay accountable since you will build a relationship with customers before even launching, and they’ll be eager to hear about all your updates to keep you accountable.
The goal of this article was to discuss 5 reasons to set a launch date as a new business owner. Overall, setting a launch date is being intentional, allows customers to get excited about your product or service, lets you have better control of your schedule, helps set a clear budget, and holds you accountable. If you have questions don’t hesitate to leave them in the comments section. I’d love to help you out!
If you’d like to take your business or idea and start a business, check out my free launch calculator here. It will help you decide how many people you need to see your offer to reach your income goals, and it can be extremely helpful at this time.
You should also check out the Startup Entrepreneur’s Toolkit. It will help you see what it takes to grow a successful launch into a business. Checkout the Startup Entrepreneur’s Toolkit here.