9 Steps to Announce New Business to Family and Friends
How to Announce New Business to Family and Friends
1. Have the right mindset
First and foremost, get rid of any feelings of hesitancy that you may have about selling to family and friends. You are not just asking for support. You are also providing something of value in return. If you believe in your products, then there is nothing to be ashamed of.
2. Understand your purpose
Why do you want to announce your new business to family and friends? Your answer to this question will affect the way you approach the situation. It will affect the things you say and do.
There are two common answers:
You want to announce your new business to family and friends because you want them to be your first customers. These are the most important people in your life. You’re probably thinking, “They wouldn’t hesitate to show their support.”
The initial sales will go a long way. You can reinvest the proceeds to grow the business. Start a snowball effect and watch success come sooner than you expect. Your family and friends can tell more people about your business and help you get even more sales.
In addition, you might want your family and friends to invest in your business. This is how many startups come to life. Founders do a fundraising round with the people they know before approaching venture capitalists. If this is you, then you need to treat the announcement like the investment thesis that it is. Convince everyone why they should write you a check.
3. Finalize contacts
Who exactly will you be talking to? Will you just reach out to your immediate family members and best friends? Or will also include your extended family members and acquaintances?
You may be tempted to reach out to everyone you know. However, keep the following things in mind:
If someone is not that close to you, then they might ignore your messages or even reprimand you for bothering them.
Also, business owners should only talk to people they trust during the early stages. They must look out for copycats, especially if the business does not yet have patents, trademarks, and other legal safeguards.
Therefore, you need to be selective about the people you reach out to.
4. Decide what you’re going to say
For your announcement, you should give a brief overview of your business. The following questions will give you ideas on what to say:
What are you selling?
When can people start ordering?
Do you have a website? You can create one with Shopify if you don’t.
Do you have a location?
What’s the story? Why did you start this business in the first place?
Include images, videos, and demonstrations in your announcement when possible. In many cases, it’s easier to show people what you’re doing instead of trying to convey everything using words.
Moreover, if you’re looking for investors, then you need to go over your numbers. You must discuss your costs and prices.
Does the business have any debt?
Has anyone already invested?
How do you plan to strategically grow the business in the long run?
Savvy investors will ask these questions. They expect detailed answers that make sense. Otherwise, they won’t give you their money.
5. Pick communication methods
You must decide how formal or casual you want to be with your communication channel. If you’re going the formal route, then use email. This is standard practice in the business world.
However, most people would choose to be more casual with their family and friends. You can simply announce your new business in person during a weekend hangout. You can also call or text.
6. Schedule the announcement
Ideally, you should make the announcement when the business is ready. That way, people can see the announcement and instantly check everything out.
If the business is not ready, then you must include a date in your announcement. Send out reminders when this date finally arrives. Otherwise, people will forget as they become preoccupied with other things.
Also, don’t be a perfectionist. It’s inefficient. Work hard and try your best. However, remind yourself to keep moving forward.
7. Monitor replies
If you’re reaching out to people individually, then you should keep track of your responses. Use spreadsheets to help yourself stay organized.
Who opened your emails?
Who didn’t reply to your text messages?
Did you leave anyone out?
Don’t worry if your contacts don’t respond right away. People are busy. They get lots of notifications on their phones.
Follow up one or two more times if your first message goes unanswered. Your success rate will most likely go up if you do.
8. Consider hosting a soft launch event
You don’t have to announce your new business to one person at a time. Instead, you can tell everyone at once by hosting a soft launch event.
Many businesses do a soft launch before their grand opening. Before opening their doors to the general public, they let a select group of people enjoy their products and/or services first.
Why do businesses do soft launches?
One important reason is to gather feedback. During the event, you can ask your family and friends for their opinions. Tell them to not sugarcoat anything. Use these opinions to make improvements before the grand opening.
See if you can improve your products. You should also see if your business processes need to be more efficient.
For example, you cannot expect to fulfill large orders if you can’t even fulfill orders for a small group of people.
The soft launch event will help you identify and fix blind spots.
9. Be specific about what you want
You want your family and friends to buy a few products and support you financially.
But is that all?
Do you also want people to help you with operations? For example, if you’re running an online store, do you want your loved ones to help you package products for shipping?
Do you need help with marketing? If so, what does that entail?
Overall, be sure to include a call to action at the end of your announcement. Use clear and simple language. Otherwise, people will get confused and not be as helpful.