Start Up in trouble

[Nicko]

Hi good people,
Friend of mine and I had a business idea, and we started limited company. As the business is an e-commerce driven, we invested £30K in the website development. Now we don’t have extra money to invest in marketing and nobody knows about our website. What would you do?
1. is it to late to look for an investor as the website is live but no customers?
2. should we close down the business?
Thank you
Nicko

 

[Wigwam Tog]

Things are better in hindsight. £30K for a start up ecommerce website is far too much (I could have offered you a complete and effective solution for around £50 a month),but now you have it, what can you do? I imagine part of that enormous cost was some SEO work, which should drive customers to your website, so maybe you can ask the developers to do a better job if that is not happening.

You could also try to drive buyers to your website cheaply using social media if your products are suitable for it. Look for cheap ways of marketing your site offline. One example is to write a press release, with newsworthy content, and send it to all the newspapers and relevant magazines you can think of. If only one or two use it, that could help drive traffic to you.

Let me have the URL of your website and maybe I can make some more suggestions for you.