You already have a business, but now you need to make your business work for you. There are many ways social media can help to fund your startup now that you have established yourself a bit. You can start a blog, YouTube channel, Instagram or Twitter account. Or perhaps you are considering to start them all. Your blog can turn into a website that expands to host other content as well as being a place to sell your project or service. You can build your brand through social media and others will gravitate to your presence on social media.
Social Media
Social media is a great tool and it takes some investment of time to learn how to navigate social media websites. Many social media sites are using algorithms to function and knowing the constant changes that may come will be difficult. However, it is still important to be present online in different capacities.
But what does social media have to do with generating income? A lot. There are many things you can achieve from being present on social media. Of course not all of the revenue you’ll acquire will be from sponsorships or anything like that, but you can drive people to your product through self-promotion.
That blog/website I mentioned earlier? Tell your followers about it. Show how you’re developing the content and look of the site and then talk about the products that are available there. Customers come to the people that are accessible and interactive.
Now that you’ve made your social media accounts and asked your friends and family to follow and promote your page, it’s time to figure out the content to post. Unless you are already an influencer (and at the beginner phase it is unlikely), don’t post anything about your dog on your business page as your first post.
Unless you are in the business of providing a product or service to animals, you don’t need to be showing your dog. Yes, I know, some people do it (and it can eventually become a way to engage your audience), but start with just your business content. Not everyone wants to see what party you went to on the same page that talks about the mission of your company.
Be concise and keep consistent with your content. Even if that means scheduling that content with a scheduling software such as Hootsuite, Later or eClincher.
Public Relations (PR)
Use your social media platforms as your PR. Tell people about new products and promotions you’re having in your business. Answer questions people will have about those promotions, products and general knowledge they will want to know about your company. There are people more likely to purchase from brands they follow on social media. Get to those individuals.
Collaborate with others, “go live” on the platforms that can support that or just allow your followers to communicate with you about whatever it is your promoting currently.
Income Streams
Not so sure you handle social media life just yet? Then do some freelance work, or work for commission. There is no one way to make money and when building a business. Nothing is wrong with getting help. In addition to having extra income, you will always have a backup plan if something goes wrong somewhere. “Every mickle mek a muckle” or “A little goes a long way”.
Instead of trying to get a lot of money in one place, having multiple streams that accumulate into larger portions can be easier. You’re never bored when you have multiple income streams. There is always something to do every day. Best of all, you can use your hobbies, interests, talents to work as your new income stream.
There are a few downfalls to this method, however. Keeping up with all the tasks associated with each stream can be difficult and that can lead to something falling behind. The whole process is time and energy consuming, so there is a need to know what you can handle. Work on things one at a time and ensure one stream is built up sufficiently before moving into another.
You can use these varied income streams to create your own funds. And, best of all, getting started is easy. No doubt you will need the time and energy to put into what you are developing. Fortunately, there is no need to put a lot of money into the aforementioned revenue streams.
Again, know how much you can handle and try to work on one thing at a time – maturing your venture before moving on to something else.
Personal Support
But not everything is for everyone. So, when all else fails, make sure you have supportive people around you to help you off your feet. Once that’s done, though, try to keep yourself afloat in any way you think is best.
What are some alternate ways of funding for your startup have you tried?
