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The vegan business market is booming. Plant-based milk and vegan meat are dominating supermarket shelves as more people are embracing vegan food. Beyond Meat experienced one the most successful launches after its IPO. Nearly 100% of UK residents are in favor of a ban on cosmetic animal testing. If you’re thinking about starting a vegan business, the time is now – here are 7 helpful tips to get you started.
Identify your target market – who are you selling to? Who are they, what do they do, what do they value? What need is your product or service filling for your target customer? Nailing this down is the first step to starting a successful business.
Prepare a business plan – outlining a strategy is helpful to highlight the steps you will need to take in order to reach your goal. Entrepreneur Alexander Cowan recommends using a Business Model Canvas or BMC to help you get started.
Snap up domains and social media handles – don’t underestimate the power of social media. It is an invaluable marketing tool that will help you engage with your customers and grow an audience of interested buyers.
Learn how to network – entrepreneurs don’t achieve their goals alone. Success is helped along with the people they’ve met along the way. Attend networking events, reach out to businesses via LinkedIn, collaborate with brands that could complement your own.
Pay attention to branding – how do you want people to perceive your business? Your logo will act as spokesperson of your brand, so make sure that your style reflects your company’s message.
Get creative with fundraising – all business ventures require capital, and thankfully there are many options available to you. You can ask friends and family to invest in your business idea, apply for a bank loan, reach out to angel investors, or try your hand at crowdfunding on websites like Kickstarter and IndieGoGo.
Find a mentor – a trusted advisor is invaluable to any business. Mentors provide advice based on their past business mistakes and successes, they can provide advice and weigh in on your business strategy, and offer a different perspective on your company’s approach.