Step 11: Promote Your Business Highlight your business's unique advantages to attract customers.

One of the last major steps in launching a new venture entailsplanning and implementing effective ways to promote your businessto others. The goal is to let potential customers know that you andyour business exist.

Although different types of businesses require somewhatdifferent approaches, the most cost-effective ways of promotingmost new products and services include the well-known basics:fliers, direct-mail letters and brochures, Yellow Pages listings,telephone calls and newspaper advertisements. Door-to-door visitsand personal appearances at seminars, trade shows and local eventscan also be quite effective.

One key to successfully promoting your offerings is to stressthe benefits of your new product or service, rather than focusingexclusively on its features. It is essential to show potentialcustomers how your products or services will solve their problemsor fill their needs. It is also important to point out why yourofferings are superior to those of your competitors. Another key isto design coupons, fliers and advertisements, and place them indifferent media outlets with unique identifying symbols or codes,so you'll know which channels are bringing you the greatestsuccess with members of your target market.