Designing a Successful Startup
People hear the word “startups” and think of overnight success tech companies in Silicon Valley. The fact is, every new business that’s not part of a franchise is a startup. Starting your own business can be a road to independent wealth but it comes with commensurate risks. The good news is that new businesses are succeeding more than ever before, with approximately 75% still solvent after the first year. If you’re looking to join the ranks of successful entrepreneurs follow these three tips for designing a successful startup.
Focus on Content Marketing
Before you even open your doors or website, you should be creating your brand image and excitement about your upcoming launch. Use your website and social media platforms like YouTube and Instagram to provide educational content with relevant information. Partner with respected names in your industry to position yourself as an authority. Let people get to know your employees, your mission, your products and your brand story so they are excited to buy from you the moment they can.
Don’t Skimp on Your Business Plan
Skimping on the business plan is a real problem for small operations. Remember that an effective business plan isn’t just the key to gaining funding, in a very real sense it is the foundation of what your company will become. You can’t provide targeted marketing if you don’t have a detailed description of your key consumer. You won’t have an idea of how much money you should be making if you don’t do financial projections and market analysis. The following parts of your business plan will help create your company culture for years to come:
- Executive summary
- Organization structure
- Company description, including mission and vision.
Center Customer Service
Startups often run on a shoestring budget. Don’t let your small roots stop you from providing professional service. In a world where your competitor is a click away and one bad online review can sink a business, it’s imperative to focus yourself on customer service.
Think about what exemplary customer service looks like. It’s easy to say the words but harder to do. Design content to solve customer’s pain points. Allow your customer service team to make on-the-fly decisions so customers don’t have to wait.
Return customers spend more money on each sale and make more sales overall. You will always save money by making an existing customer happy instead of spending the money trying to find a new customer.
With these three tips, you are well on your way to creating a successful new company that will be the base of your personal empire.