Speed Up Your Startup Growth
When you set up a small business, you’re almost always thinking big. You don’t want to keep your company small, you want it to grow, and you want it to grow fast, like bamboo. Unfortunately, growing a startup is no mean feat. For one thing, 80 percent of them crash and burn in the first 12 months of trading, and for another, gaining momentum isn’t exactly a walk in the park, especially in the connected world we live in where competition is so fierce!
The good news is that, although starting a business and growing it rapidly is difficult, it is certainly not impossible – far from it. Here are just some of the relatively simple things you can do to speed up your startup growth:
Know Where You Want to Grow
Business growth doesn’t just happen overnight, which is why, before you do anything else, you need to have a plan. You need to sit down and work out exactly where you want to be a year from now. You then need to think about every possible way of getting there. This might seem obvious, but so many startup novices don’t make clear plans for the future, and as a result, they see little if any growth.
Hire the Best People
It’s unlikely, although not totally impossible that you’ll go from zero to hero with your startup without any help. I mean, if you have to do everything from coding your website to putting out the product, there’s no way you’re going be in need of a separate record storage facility to give you more office space anytime soon! No, if you want to grow faster, you need to not only hire employees right now, but you need to hire the best people you can afford.
You might think that doing so will take up a lot of your capital. And it probably will, but great employees add value. Their insights and abilities make your business better, and that means that you make more money, which you can then plough into expanding your operation.
Offer Amazing Customer Service
Even if you only have five customers at this point, it’s important that you keep them really happy, focusing a lot of your efforts on their needs. Why? It’s obvious really; not only do happy customers keep coming back for more, but they leave favorable reviews, and they tell their friends about your company, then they tell their friends, and before you know it, you’re moving to a bigger office and outdoing even your wildest expectations. Do the opposite, and you’ll have trouble getting things off the ground let alone being in a position to think about expansion.
As a startup owner, you can’t expect to make bundles of money. Really, you should be pumping all of your profits back into your business if you want it to grow faster. It might hurt to do it, but if you’re serious about your business and you want to success, it’s what you need to do!
If you do everything mentioned here, your business will grow and grow and grow!