Starting a business is a scary thing, whether it’s your first business or not. It’s true that most startups fail. But many startups are wonderful success stories. It’s these startups that make so many of us want to get into this sort of pursuit. So what do all these successful startups have in common?
They understand the need to evolve
Startups aren’t startups forever. That is, unless, they fail before ever evolving from a startup. Successful businesses have their eyes on the bigger picture and know what they need to do to grow into a bigger company. They have an intricate understanding of the importance of scaling a business. Of empowering employees. Of responding correctly to feedback. They know that long-term growth involves the fulfillment of crazy amounts of short-term goals.
They know what they don’t need
A lot of businesses think they know what they need. They need capital, they need an office, they need this employee, that employee, etc. etc. But there are so many things that startups don’t really need. It’s important to figure out what you don’t need. This isn’t something you’ll just figure out by listing what you do need. You need to think proactively about things you can do without. And I’m not just talking about perks like a coffee machine. I mean the big things. Are you sure you need a full-time I.T. employee, for example? You could outsource it for now. Are you sure you need a full-fledged office for your business? Virtual offices could work better for you.
They’re on-point when it comes to recruitment
So you’re a young, hip, hot new startup. You know what your business personality is going to be. So you want to hire people who are exactly like you. Heck, if you could just clone yourself then you’d do that and hire your clones! The problem here is that you need a strong mix of minds that don’t always think alike. You need to put a focus on experience and proven knowledge, not “hipness” and college degrees.
They’ve got the promotion tactics worked out
Google “how to promote brand” and you’ll see a thousand articles. It’s not a case of finding the right article, or even cherry-picking the best pieces of advice across several of them. The fact is that you need to figure out for yourself what’s going to work best for your company. A tactic that launched a similar startup to fame and fortune might not work out for you at all. You need to be more careful here than many businesses seem to think.
They can talk to others
Effective communication is so important when it comes to launching a business that will thrive. And I’m not just talking about the communication within the company. (Although that, obviously, is important.) It means they know how to communicate with the people outside the company. They know how to network with other business owners and investors, getting the inside knowledge they need. They can talk to customers and always leave them walking away satisfied. They can keep up a friendly presence on social media.
This article was provided by ellie jo