William Saito is a renowned Japanese entrepreneur who has vast experience in investment matters. He is also a successful investor who has made a name in the various enterprises that he has ventured into. Recently, Mr. Saito gave his advice on what startup entrepreneurs need to do to get their businesses going. Mr. William Saito believes that times have changed and these days it’s easier to start up a business than in the past time. The cause for this is the high availability of resources. However, he insists that it is essential to at least listen to the experts who have been in the field for an extended period.
The following are William Saito’s beliefs concerning startups investments:
Marketing is the only way that clients can get to hear about your clients. Even for the already established businesses, it is crucial to always keep in touch with the customers. This is because the business world is very competitive and a product may lose relevance to clients if it is rarely advertised. William Saito advises that marketing should be one of the primary things that a startup business should not hesitate to invest in. He says that this practice has an immense impact in determining the success of your business.
Your company may be having employees who are highly knowledgeable in marketing. However, William advises startup firms to engage marketing consultants in their operations. This is because the external firms will bring the newest and the most effective marketing techniques that will ensure that success is attained. The external marketing consultancy firms also have hands-on experience having worked with businesses that thrived or failed. They are, therefore, highly likely to advise you accordingly.
- Fill a market gap
According to Mr. Saito, many firms have failed because of being started without a particular purpose. You may be having capital but invest poorly because of lack of information. William Saito advises that it is imperative for startup entrepreneurs to first identify a market gap before venturing into any entity. Filling the gap means that there exist customers in the market who are ready to take your product without having to engage in aggressive competition with others who are selling similar products. Having a clear market gap that you intend to fill also makes it easy for you to obtain funding from the financial institutions. They are sure that your venture has high chances of being successful and thus, their money is safe.