Starting a business is a hectic time in an entrepreneur’s life. There’s tons of paperwork to do, finances to get in order, and everything else that goes into launching a business. With everything there is to get done, it’s easy to forget a few crucial items. Here are four things startups often forget during the launching process:
Getting the Word Out
With today’s paradigm shift in marketing techniques, it’s critical to let people know of your plans to make your business an ideal environment for them to invest in.
Being savvy about social media such as Facebook, Twitter and networking entities such as LinkedIn is vitally important. This means first putting together a contact list and downloading all your contacts from your Gmail or Outlook email clients.
Knowing the Market
Generally speaking, people don’t invest money in an enterprise if the enterprise is not already making money to some degree. At least, be prepared to let them know how many people are already using your product or services, and keep in mind that honesty is the best policy; people tend to back off from hype.
Don’t buy into the myth that, “Now’s not the time to get into that kind of business.” A savvy business person knows how to launch a startup in just about any business climate. Depression or recession, it won’t matter to that business person.
In today’s atmosphere of uncertainty, it behooves business owners to have someone that is not only well-versed on emergency response strategies in the workplace, but also has sufficient knowledge in first aid training, knows about exit planning and has a designated storage area for supplies such as oxygen tanks, blankets, flashlights and batteries. Try to find qualified personnel for this position—it is not that difficult to find a good online occupational safety degree program in today’s market, so finding a qualified individual should not be a major task.
Likewise, having an experienced business person as a mentor is equally important to help guide you along the rough, uncharted waters you’ll be facing at some time. While you don’t want a company of “yes men” surrounding you, staying away from the scornful is highly recommended.
Be innovative, but kill the urge to re-invent the proverbial wheel. In other words, kill costly inefficiencies and get rid of redundancies in your business platform.
Building on Sound Feedback
As you build your startup, fight your sense of pride and get as much feedback from customers and other business people as possible. Listen to what they have to give as input. Setting up a webpage to get both their opinions and free business advice as well is advisable. Starting an interactive business blog to let others know of where you’re at and what you’re doing is another way to get people’s minds on your startup. After all, everyone likes to give their opinions.
By implementing the above four points, you’ll have a more sure foundation for making that startup a success. Once you have that success, you’ve set the stage for growth and expansion, but it all begins with the launch.
Kara Masterson is a freelance writer from West Jordan, Utah. She graduated from the University of Utah and enjoys writing and spending time with her dog, Max.