Being an entrepreneur and starting your own business takes many things, and it’s not all about the cash. There are many inner demons to be dealt to get started and make your start-up successful.
Starting your own business helps you to face your fears, accept your limitations, and forces you to lay a foundation under those dreams. In fact, what looked good on paper may not make sense at all once the “real work” kicks in. Therefore, what ways can you improve your start-up to make an impact, and how can you solidify yourself in your market?
Small Business Startup Advice To Live By
1. Confirmed Customers
This is a set-in-stone rule that consummates entrepreneurial planning. Are you sure in advance that the product or service that you have to sell will have, or has, the customer base required to become a success? Many start-ups with good potential fail to adequately validate a customer base. A successful start-up measures its development on the foundation of verified, reliable, paying customers.
2. Good Planning
It’s been said over and over again, that having a good business plan is key to a successful business. Actually, the truth lies somewhere in the middle. You need some type of plan to know where you are going, but you must be flexible as well. A start-up that has actively planned a means of moving ahead, whether on a national or international level, and has a solid one to five year agenda, and is making perpetual and visible progress to meet important targets is poised to succeed.
I am a big believer in creating a business map and not so much a business plan per se. Keep it simple and definitely achievable, something that paints a clear picture in your mind of how you would like to see your startup mature in the coming years. The business world is evolving very rapidly nowadays, especially in the tech start up scene and it is good to keep an open mind and open plan when it comes to creating your goals and vision for the future.
3. Easy on the Cash
Living below your means is a maxim that applies to businesses as well. A conservative operation is the way to do it these days, and private corporate jets are out! An entrepreneur who can “take it easy” with the funds, even when there is plenty of funds available has a better chance of solidifying and keeping their business afloat.
4. Transparency means less Worries
Loyalty, veracity, and transparency are all linked. A successful start-up should have little to nothing to conceal. It’s just plain easier with less clandestine methods about billing, customer purchases, and pricing strategies. In addition, you are more likely to have a devoted staff as well.
Successful companies, entrepreneurs, leaders, and confident people in general have a knack for communicating well. They convey positive news and communicate adverse news with frankness and simple language. They are skillful communicators, point blank, and no great company can succeed without one. If you are not that one, hire someone who is. It is well worth the investment!
6. Don’t Set Expectations too High
You know you have what it takes; however, that enthusiasm must be tempered with a bit of realism. Setting your sights low does not mean that you shouldn’t “plan for success.” It only means that it will take work and there will be inevitable bumps in the road along the way. Your product or service may be revolutionary, but if you “go over the top” right from the start, a modest beginning may disappoint you. By starting conservative, a self-effacing success will be visible making you look even cleverer.
7. Start-up in the Hood
By creating and testing your product or services in your locale you have many advantages from the start. Distribution and advertising will cost much less. People you already know will be involved and more than likely they will be more honest with you. In this way, you can “brush up” on anything that needs tweaking. In addition, it’s easier locally to gain marketing advantages.
8. Grab the Easy Customers First
Just about every product or service has the potential to grab a particular group of customers. An entrepreneur should concentrate on that particular group with gusto. Market, allocate, and maintain them and odds are that your business will increase. Even that amount of success will encourage you to extend your business to more complex buying customers. On the other hand, if this strategy does not turn out they way you had hoped, it’s no reason to be discouraged, just change your strategy, and learn from your mistakes.
9. Partner with a Larger Company
Maybe a company similar, but not selling, the same product or service, could possibly assist you with climbing the ladder. Perhaps you can develop a temporary-partnership that will permit you to grab some of their muster. For example, if your company offers a pioneering exercise bike, maybe a local shop that sells exercise clothing will partner with you and you can split the profit. This may not seem attractive in the beginning, but hey, at least you get your name out there!
And last but not least, we will let the amazing founder of Apple ‘Steve Jobs‘ explain this one for you. This is the most important Startup Rule to Live By:
10. Follow Your Passion
Short of a catastrophe, any entrepreneur that adheres to the points listed above is sure to make way and solidify themselves in the market they wish to conquer.
3 Questions Your Startup Needs to Answer in Order to Maintain Focus
When I was a second lieutenant in the United States Marine Corps at 22 years old, one of my captains at The Basic School was a rugged Marine who’d been awarded the Bronze Star for defending an isolated combat outpost from repeated Taliban attacks. (more…)
3 Startup Workplace Trends You Need to Carefully Consider
One of the most notable parts of startup culture from the outside looking in is trends. You know the stereotype of the startup CEO — he’s wearing a hoodie that probably cost hundreds of dollars and running meetings from a bean bag chair. However, trendiness isn’t always the right choice for your business. It can be good for your startup to branch out, but some risks aren’t worth taking. (more…)
How Your Startup Can Effectively Collaborate With Influencers
As a startup, your priority is to attract, engage, and turn potential clients into lucrative, long-term consumers. And the optimal way to make this possible is by incorporating startup influencer marketing.
Most consumer brands these days collaborate with influencers to grow their business. Why? Because these individuals have built a lot of trust behind them, they can promote your product or services to their audience and get them to trust your brand. This is a huge sales-driving strategy, especially for new and upcoming businesses. (more…)
12 Things That Will Help Build Your Brand Reputation for Your Startup
Brand reputation drives the success of businesses, irrespective of what industry you are in. Currently, there are approximately 543,000 startups every month. 70% of these do not survive beyond two years, 50% do not exceed five years, and a third fail to cross the ten-year mark. Only a quarter of these businesses can survive beyond 15 years. (more…)
Here Are the 9 Steps to Starting Your Own Business After College
How to Become Limitless in Everything You Do
Everything is Changing: How to Deal With Uncertainty in Life
How Thinking Big Can Be the Difference Between the Life You Have and the Life You Want
Why You Need to Treat Your Business Like Getting a Haircut
55 Inspirational Quotes That Will Change Your Life
(Images) 52 Motivational Picture Quotes For An Epic Year Of Success
30 Famous Quotes That Will Inspire Success In You
72 Positive Thinking Quotes For More Inner Strength & Growth
40 Rare Motivational and Inspirational Picture Quotes
3 Prince EA Videos To Change Humanities Path To Greatness
(Video) What Is Success? An Entrepreneurial Story To Inspire You
(Inspirational Video) What If Today You Knew You Were Going To Take Your Last Breath?
How To Make Enough Money From A Blog To Quit Your Job – Kate McKibbin
How Finding Your Passion And Becoming An Entrepreneur Can Lead To Happiness – Chiquita Searle
Success Advice4 weeks ago
The Life Story of Jack Ma and How He Became a Self-Made Billionaire
Life4 weeks ago
The Easiest Life Hack That Will Improve All Your Relationships Instantly
Motivation4 weeks ago
The Bare Truth of What It Literally Means to Do Whatever It Takes
Success Advice4 weeks ago
How to Become a Boss That Everybody Wants to Work With
Quotes3 weeks ago
9 Powerful Quotes That’ll Inspire You to Be Your Own Boss
Success Advice3 weeks ago
You Can Either Make Time to Read or Continue With a Poverty-Ridden Life
Success Advice4 weeks ago
Why You Shouldn’t Always Rely on Willpower to Be Successful
Life3 weeks ago
How to Take Control of Your Internal Dialogue So You Can Live a Life of Purpose