Alexei ‘Lexi’ Khatiwada knew he made a great snack, and wanted more people to know about it, too. Together with his old friend and now Metro Bank Local Director, James, Lexi was able to connect with just the right people who could give his low-calorie marshmallow snacks a boost. Now, he’s sold hundreds of thousands of Lexi’s Crispy Treats to snack fans, and branched out into other products too.
Looking at how to kick-start your own small business? Here are five top tips from Lexi:
It’s vital to check out the market you want to launch in. Be certain there’s a gap for your product, as well as a real need for it.
After you’ve dived into the market, you need to go one step further and work out exactly who you think is going to buy from you. Create a personality for them, think about where they work and shop, and pinpoint the reason why they’d come to you to meet their needs.
Most of the time, it really is about who you know – but not in the way you might think. Be open about your business journey, and showcase your development through channels like social media and in-person opportunities, such as trade shows. Ask questions and get your followers involved, so once you’re ready to launch, you’re giving them something they’re excited to try.
It’s vital to test your product or service with real people, so you know what’s right and what’s not. Even if your first go is way off the mark, you’ll have concrete feedback to take away and learn from – so next time, you can knock it out of the park.
Even the most successful businesses out there had to start somewhere – so try not to feel disappointed if everything doesn’t go to plan straight away. Always approach new challenges with a confident and optimistic mindset, and be ready to change tack if something’s not working.
Need a hand getting your business off the ground? Open our Business Bank Account and you’ll have a Local Business Manager on hand to support you, access to smart bookkeeping software, and 12 months’ free Enterprise Nation membership.