What’s stopping you from becoming a Startupreneur? Here are some tips to help grow a start-up, if you have set your mind to move off on your own.
Want to be a Startupreneur? If you’re thinking about starting your own business you’re probably on the lookout for right advice. Maybe you need a business coach. Yes, there may be no shortage of varied advice out there, and you may feel confident enough to take off as a Startupreneur.
But, here are some tips to get you started – some small-business tips, that can lead you to success.
Get the ‘big idea’
First, do you have a ‘big idea? If yes, then ’set up the ‘big idea’. But, does the big idea have to be superlatively innovative? Some may believe that their initial idea is so awesome that it will be the same idea till the end. That may not be true, for you may have to change at times. You have to be ready to change and adapt the idea, as you go along. Ideas if strongly original, will have a monetary value and patenting them may help.
Look for funds and investment
The most important factor – work towards getting the funds lined up. You may need Angel Investors or Venture Capitalists (VCs) but do not dejected by the thought of not getting funded by them. Having fixated on an idea, there are a lot of Startupreneurs who believe that lack of funding or investment is a major roadblock to progressing with their venture, but that may not be so. Start looking for ways to fund your business, such as through peer-to-peer lenders or investors, before you’re in a real cash crunch.
started on the right foot
Before getting too far ahead of yourself, make sure that you start your small business on the right foot. So, how exactly can you get your business started the right way?
Be passionate about what you do. This is going to keep you pushing forward during any rough patch. Start your business while you still have a full-time job so you’ll have money to survive until your business takes off. Set aside some cash so that you don’t have to borrow as much. You’re going to need support from your friends and family, and advice from mentors.
Build traction. Start building a customer base before officially launching. Write your business plan. Your business plan is going to guide you throughout the entire life of your business. Do your homework. Conduct market research to better understand your industry and target audience. Become an expert on your industry, products and services. Reach out to professionals – eg, you may need to hire an accountant, to handle this area of your business.
Then, start to become a professional. Start by getting business cards, a business phone number and an email address. Get your legal and tax issues in order – if you get your legal and tax responsibilities right from the word go, you will save time and a lot of frustration.
Focus on your niche
As small-business owner, you’re already devoting a majority of your time and energy to starting and maintaining your business. Don’t make it difficult by spreading yourself too thin. Trying to do everything on your own can be a disaster. To avoid burnout while growing your business, focus only on what you do best. As for the rest, like administrative tasks and customer support, delegate or outsource them to someone else.
Focus on your niche and stick with it. Focus on what you know, what you’re good at and what you’re passionate about it. When you do this, you’ll be on the path to success without adding any stress.
Hire the right team
employees are the foundation of your small business. Remember, they’re your
biggest support and advocates. As such, you should make sure that you hire the
right team for your business.
While you obviously want to hire talented individuals, who possess skills that
you don’t, you also want to hire experts who are positive. If you get along
with them as well, you’ll notice that you have a fun and productive work
Follow your intuition
the same time, trust your gut. As Steve Jobs once said, “Have the courage
to follow your heart and intuition. They somehow already know what you truly
want to become. Everything else is secondary.”
Wow your customers
determined to create customer delight. Of course, you wouldn’t be in business
if it wasn’t for your customers. Thank them for their support by ‘wowing’ them.
It may involve something like a coupon, discount, early access to an
event/promotion or a freebie…. However, keep trying to “wow” your
customers – not only is it the right thing to do, it also sets you apart!
Get your media coverage & build your advantage as a leader
Thanks to content marketing, it has never been easier to establish yourself as an authority and build trust among your potential customers. When they trust you, they’ll be more likely to support your business and also refer it to others. You can also get some media coverage by being featured in leading publications, which in turn introduces your business to a new audience.
Simply put, if you want your business to succeed, you need to become a respected voice within your industry. You can achieve this by creating content – like blog posts, podcasts, webinars, videos, infographics and case studies. Also appear at as many industry events and conferences as possible.
Wow, what are you waiting for? Now’s the time to start…