Most Start ups encounter this one reality that it takes money to make money. While the issue of little funds comes your mind, The default logic is to assume that you must seek investors, raise millions and make some big splash. While that helps, it’s not common for most early stage startups.
Bold Entrepreneurs find a way to make their own success before they have the money. One way they do this is by acting as if they already have it, or the success that comes with it. While this idea sounds like “fake it till you make it,” it’s actually rooted in fundamental concepts about consumption, perception, and scaling.
Here are some ways you can appear stronger, more successful and better funded than you might actually be.
1. Boost the appeal of your products.
One of the simplest and most impactful ways to improve the perception of a company’s success is to make its products appear luxurious and high-quality. If the items themselves look like something someone would want to buy, logic follows that people will buy them – and people want what others have.
Pixelz co-founder Thomas Kragelund explains, “E-commerce is built on imagery — billions of product images are being clicked, swiped, and compared by customers every day.” In fact, he says, “Companies like Google, eBay, and Amazon have conducted studies that conclusively state higher-quality images improve sales.”
Another way to boost sales while simultaneously improving visitors’ perception of your brand’s success is to enhance your product descriptions. Consumers rely on product descriptions to determine which offering will best meet their needs, and a discussion of an item’s functionality or an article of clothing’s fit can lock down a sale – while poor and insufficient copy can prompt a customer to find a different website with more detailed descriptions and more confidence in its messaging.
2. Associate your brand with big names.
Relationships take real effort to establish, but some of your existing or developing relationships and partnerships could enhance your company’s standing in the public eye. Never fail to associate them.
3. Outsource to increase your capabilities.
A simple but savvy way to increase your brand’s perception is to expand your capabilities through outsourcing. Leveraging third-party skills or resources can help you offer higher-quality products or services without the costs of raising money and scaling a team.
For example, Third-party logistics providers are experts at what they do, and they have access to the latest and most effective transportation technology. They are trained to identify problems with your transportation footprint and provide effective solutions for transportation accounting and freight claims, among other areas.”
The key is to isolate the parts of your business that can be outsourced on a cost-effective basis, as well as the parts of your business you dislike the most. Accounting is another common example.
It takes money to make money, and there are effective ways to give the impression that your company has money — and stands to make more. By boosting the appeal of your products, associating your company with big names, and outsourcing to expand your capabilities, you may just be able to convince others you’re managing a billion naira brand. No matter which way you take, remember to always treat your customers well and stay focused on providing real value.