Start-Up Building Blocks.
If you’re thinking of starting your own business in Jeddah, you probably already know that developing credibility for it is a difficult task. Certain things need to be done for your start-up to be trustworthy to customers, employees, and the market. Keep these few factors in mind.
A Clear Mission
Stay focused! Identify both your personal and business missions. Are they parallel to each other? This will give you an indication if moving forward with your business idea is wise at this time.
Understand Your Customers
A clear understanding of your target market is essential. ‘Everyone’ is not your customer – consider demographic, psychographic, and geographic factors. The clearer these are, the better you can develop your offerings.
Connecting with your customers is a great way to understand their needs, so try to get as much feedback as possible. The right customer base will allow your business to build a brand near to their hearts, and win their loyalty and a good reputation.
You need support on a personal and a business level. The former is for motivation, and the latter to assist you in execution and delivery. There’s no shame in getting support – in fact, this will give you a chance to focus on a growth strategy.
Keep a record of your financials from day one. Costs easily accumulate, and losing track of your accounts, expenses, and receivables can be very harmful for your start-up.
Create your brand identity, measure it, and develop it. The brand must be reflected throughout your business, including yourself and your employees. Logo, packaging, product, tone of voice, and adverts are some of the factors that must align with the brand identity.
Learning and development in terms of offerings and business operations is essential. It’s an endless cycle that must continue from idea inception through to the growth of the business. Gather data and evaluate it to gain valuable knowledge.
Starting your own venture requires a lot of courage – don’t let fear stop you.
The Jeddah Chamber of Commerce and Industry provides support and protection to local businesses. In particular, the economic and social development department have been placing much focus on start-up needs. The department runs a business clinic on a monthly basis for start-ups to benefit from subject matter experts, as well as presentations ranging from technical, management, and business-oriented skills. Also, once your business is up and running, contact the department to join the yearly entrepreneurs’ exhibition for excellent exposure and networking opportunities.