Singapore Company Formation: Finding Initial Customers
When you opt for company registration in Singapore, you have every right to hope for its success. However, the road to it is full of challenges. If you are bootstrapping your Singapore company formation, it becomes imperative to surmount each of them. You also economize on your resources. You can actually start it by hiring cost-effective Singapore company registration services.
You have to focus all your energies on selling your business idea. At every turn in the road to the successful entrepreneurship, you have to keep in mind that you are not on an adventure like Google and Microsoft went on with Motorola and Nokia respectively. You don't have that kind of money. The only money that you are going see out of your company registration in Singapore is what you are going to earn from it.
Sell to Ensure Your Survival
As a bootstrapper, you must be ready with a plan to attract as many paying customers as possible right from the day one. You have to spend every second of your day to make your products and services appealing to them. It is a top priority, as you must sell to generate revenue and to ensure the survival of your limited private company in Singapore.
Prepare the Ground
However, the question is, "Is the market prepared to take you seriously?" It will happen only if you have a product that satisfies a major need in your business niche. Even after having such a product you may find it struggle to attract your initial customers. But you should not let your heart sink because every startup owner has to go this phase. You should be actually prepared for it.
Get Feedback and Suggestions
You have to be very careful how you treat your initial customers. It is going to set the tone of your business activities. At this stage, you should invest yourself in finding out what they think of your product; feedback and suggestions. You should convince them with your responsiveness and approach towards customer satisfaction.
Once you have sufficient amount of feedback, you should take sincere steps to improve your products or services to add more value to them. Make sure that they are successfully addressing the problems faced by your targeted customers. They go back to the board and redraft and refocus your marketing activities like content marketing, ad campaigns, or referral programs to drive the massive growth.
Attracting Your Initial Customers
1#. Market Research & Survey to Find Pain Points
You cannot just go and make what you want to offer to your customers. If you are seriously interested in taking your company registration in Singapore on the road to success, you need to conduct market research and surveys.
You need to find the pain points and go to the drawing board and if needed, rethink your business idea and develop it into something that is much needed. You sell what your targeted customers need not what you have developed blindly.
2#. Piggyback on Your Competitor's Content Marketing
Every new Singapore company formation finds it hard to acquire recognition. The consumers are a bit wary of unknown sellers. And in general, things move slowly for them.
However, there is a way to accelerate the things and get wide recognition. You can piggyback on the competitor's efforts. It involves finding out the media and channels they are using to promote their products. Then, post your content there to market similar products.
However, you cannot use this approach if the product is based on a new idea, or offers the different set of solutions. You will have to make it a full-fledged marketing activity to promote your product.
3#. Get Inputs from the Experts
If you could, you should also talk to experienced individuals that are witness to the ups and downs of your business niche. You could meet product reviewers, product developers, suppliers, or investors who could give worthwhile inputs to you.
It is obvious that not all of these individuals you are interested in talking to will accept your invitation and allow you to pick their brains. You, if needed, may think of hiring them.
Each year, thousands of aspiring entrepreneurs pay company set up cost stipulated by the Singapore company registrar. However, nursing a new Singapore company formation and creating enough room for it to grow in a competitive market is a tough thing to do.
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