BOARDMAN, Ohio (WKBN) — The beginning of the new year may spark some to start a new business or company. This may be difficult to navigate where to begin.
First News spoke with PALO Creative, a local marketing and advertising firm to learn tips for new entrepreneurs and get advice on how to become successful amid inflation challenges.
PALO Creative CEO Rob Palowitz says to recognize a need in the world: where there’s a need, there’s a demand. And where there’s a demand, Rob says, you can start a business.
“What problem are you going to solve? What niche do you want to go after? What industry? So you have to really drill down what you want to do,” Palowitz said. “A lot of times people’s hobbies become a business.”
Creating a strong team of trusted individuals may also bring value to the business.
“Resources, funding, how [are] you [going to] get things out, your product or service out. Do you have a team? Do you need a team? Can you do it digitally using technology?”
He said the next step is getting a business plan together, with strategies and specifics.
“You don’t want to waste time you don’t want to be running around trying to get something when you already know it’s not available, so you have to find multiple ways to get your product in or your product developed, your product manufactured. You gotta have a backup plan,” Palowitz said.
He says the biggest key factors that make a business successful are grit and integrity.
“You need to move people to buy what you’re selling or want the services you offer. You need to speak to them right here in the heart because at the end of the day, we are all human,” Palowitz said.
PALO Creative also encourages using social media as a platform to promote businesses.