Tips For Promoting A New Business Online Without Spending Much Money

Starting a new business is always a big leap, but especially during the pandemic, it can feel challenging to even get the word out about your product or service. But if there's one person to go to for advice on promoting a brand-new endeavor, it's businessman, author, motivational speaker and "Shark Tank" investor Daymond John. He's got three steps to effectively boosting your business online and through social media — without spending a lot of money.

Q: "I'm 24 years old and I just officially started my own custom gemstone jewelry and energy healing business called Breathe Easy Beads. All of the products are handmade by me, and each piece is designed and curated with your own innate energy frequency to help calm, protect, encourage and empower. My question is, as a brand-new business owner, how do I get my name out there beyond my inner circle with this worldwide pandemic going on and when I don't have a ton of extra money to promote myself?"
– Lauren, viewer

A: "Money only highlights your weaknesses in a business in the start-up state," Daymond says. (He wrote a New York Times-bestselling book called The Power of Broke). "Here are a couple of steps that you need to do. Two you've already done, you're brilliant at," he tells Lauren.

Step 1: Come up with a creative, easy-to-understand name for your business + use it consistently across your online platforms.

"You named it a really creative name — Breathe Easy Beads — so hopefully your URLs and your Instagram and social media platforms reflect the same thing, Breathe Easy Beads or By Breathe Easy Beads," Daymond says.

Step 2: Think of out-of-the-box ways to promote yourself — like TV appearances.

"You've been promoting yourself, that's how you got on this great platform like 'Rachael,'" Daymond says to Lauren. (Hint, hint, you can apply to be on our show here!)

Step 3: Collaborate with other people.

"You need to find other people that may be selling products similar to yours, but not [the same] on social media. Say, 'How can I collaborate with you? You market my stuff to your people, you take 20- or 30-percent of the profit, whatever the case may be.' And once you start to see who you start hitting, then you advertise on Instagram and Facebook. But get the product out by collaborating with other people's networks. OPM can always be other people's marketing."

Yes, advertising on social media costs money, but you'll save money and gain a larger following by using Daymond's cross-promotion tip.