Have you tried to start a business in the Okanagan? Maybe youâ€™re toying with the idea of being your own boss, or are in the midst of opening your own store. If so, then you will want to pay close attention to these 4 tips for Okanagan startups.
#1. why & what
The most important part of your business is the service or product youâ€™re going to provide. New business owners should think of how they can separate their product from the next guy. Why is your product better than the current industry standard? What sets you apart from already established local brands? You should establish your unique idea, and figure out who & why people living in the Okanagan will choose your product over your competitor. ie. Lets say you want to open a local coffee shop, why is someone going to choose you over a brand like Starbucks? Well, someone might choose your cafe over Starbucks because of where you source your beans, the fact that youâ€™re locally engaged, and perhaps you establish more of a personal connection with you customers through loyalty programs & personal touch points. Local engagement is HUGE in the Okanagan with word of mouth being such a large factor to success.
So, youâ€™ve separated yourself from your competitors, youâ€™re certain you can provide a better product, but whom are you selling to? The next step in starting a new business is identifying your target market. You need to be showing what you do differently from your competitors to the people who matter. If youâ€™re a coffee shop marketing your coffee as a better product than your competitor to someone who doesnâ€™t drink coffee, where does that get you? Identify who your target market is, and cater your brands â€œpitchâ€ to those individuals through targeted lists. This will also help you identify if there is a market for your product in the Okanagan.