Startup companies should be admired. It takes guts, persistence and creativity to build something from nothing into success and longevity. Startups are also the best companies for developing because they are small, new, and thus easier to fix problems for.
So, what makes a startup company succeed? It starts with the management of the boss and his ideas about how to make it better. That’s why we have these tips for bosses launching into startups.
If you need funding or you're aiming at serving government, you'll need a business plan. Investors need to see a plan. Of course, if you don't need investors or finance, just jump in and get started with your company. But when a business plan is needed, it has to be presented well. If you don't know how to write one, get professional advice to format it and lay out what you'll do, how you'll achieve it, costs, projected returns, company structure, etc.
You can approach banks and investors, for sure. See point 1 about a business plan. Otherwise, crowdfunding is still pretty helpful for startup companies. Appeal for donations through a site like GoFundMe. Those who contribute aren't founders, they just want you to succeed. Therefore, you keep full control over decisions and direction. Maybe offer some milestone goodies and discounts to make it more attractive.
Bring in the best team you can. They need more than skills; they also need drive, commitment to the idea, and belief. The chain will be as strong as its weakest link. So don't have any weak links.
Don't be afraid to find a few freelancers, too. They don't cost much and they can work their own hours to help you.
Show your team your vision, explain what the company is and where you expect it to go. Motivate them with goals, financial incentives, bonuses, percentages, profit sharing, etc. Build the team so it will run smoothly. Invest time in your people. They will see you do this, know that you care, and thus will go for broke.
How will you tell people about your business and what it offers? If you're not sure how, consult experts in supporting startup companies. They will advise in strategies and also in logo, design and branding.
We've all heard it: "There’s an app for that!" If you can get an app designed for your company – do it! It's a hands-on experience for potential customers and thus should "implant" your logo and brand in their minds.
Startup companies need to be noticed. After your website and mobile apps are professionally developed, start blitzing social media. Use more than Facebook, Twitter, Google+ and LinkedIn. Add Instagram and even Pinterest to the list. There are platforms like Hootsuite for managing all your social accounts at once. Just be sure every page includes clear contact details because there truly is nothing like live communication by voice or face-to-face.
Startup companies like yours have unique ideas and thus they have proprietary information, along with website code and personnel records. Invest in technology that turns your computers and network into Fort Knox. Startup companies can be ruined easily by one small data breech.
One of the greatest investments a startup company can make, either through software or dedicated professionals. From the very start, you need to see your conversion rate, pinpoint customer activity, identify what trends and resonates, streamline content and boost activity.
More of a visual learner? We've captured all the above information in this cool infographic, feel free to share it on social or link to it from your website!
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