5 Tips to Help You Launch Your Health-Based Business
According to data, there are more than 258 million adults living in the United States and 83.4% of them saw a doctor or other healthcare professional at least once in the past year. Many people live in areas that are underserved by healthcare professionals. Health-based businesses can fill in the gaps in care. These tips can help you get started.
1. Create a Business Plan
A business plan includes a description of your business, how you plan to sell your products and services, your funding sources, financial projections, and how your business will be structured. Many new entrepreneurs opt for an LLC in Oregon, as it offers you protection of your personal assets from business affairs and provides some tax advantages.
Creating a business plan increases your chance of success by helping you visualize your plan for your business. It also provides you with documentation you can show to potential investors, lenders, and employees to convince them that your business will be a success. Take a look at this ZenBusiness Start a Business Guide to guide you through the process.
2. Market Your Business
Marketing is how you get your business noticed among a sea of competitors. One way to get attention is to design an eye-catching logo. Your logo should create a strong first impression that instantly conveys what your brand is about. A professional and memorable logo helps you build brand awareness and separate yourself from the competition.
You may not have the budget to pay a professional logo designer. You can save money by using an online logo maker to develop a creative and aesthetically pleasing logo design. These tools are easy to use. Pick a style and icon you like. Add any text you want to include and then adjust the colors and fonts to your liking. Once you have your logo, you can use it on all of your marketing materials.
3. Partner With Experts
If you are not a medical or scientific expert, you must partner with people who are. This will ensure that any products and services you sell are safe and effective and build trust with customers and investors. In addition to working with experts in the medical field, it is a good idea to work with legal experts to reduce your potential liability.
4. Fund Your Business
Most people need some outside help to fund a new business. Traditional banks are often hesitant to loan money to startups, but some online banks are willing to take a risk. The Small Business Administration is a good source of funding specifically aimed at small businesses. Check with your local chamber of commerce and other organizations to find out what sources of grants and other funding there may be in your community for new businesses. Other potential sources of funding include crowdfunding, investors, friends and family, credit cards, and personal loans.
5. Build Your Network
Networking is a good way to find potential customers, new vendors, investors, and partners you may want to work with. Consider joining a relevant professional association. Connect with other business owners online. Follow their social media accounts and share and interact with their content. Reach out to related businesses to establish guest blogging opportunities. Also attend industry conferences. Conferences provide an opportunity to make new contacts, learn new skills, and discover new products and services.
The healthcare field is large and growing, making it an ideal industry for new businesses. These tips can help you get your foot in the door and set your new business up for success.
Membership in the Gresham Area Chamber of Commerce offers all sorts of benefits and networking opportunities to local business owners. Join us today!Image via Pexels