Some of the biggest companies and brands that are known Worldwide today, have emerged from difficult financial economic circumstances. Disney, Microsoft and more recently, WhatsApp, Groupon, Slack, and Uber all share a similar story.
Firstly, they were formed during financial downturns, where funding was near impossible and optimism levels were deflated, but even more impressive than that, their founders all shared the common belief that it was possible for an economic downturn to serve as a launchpad for global success.
1. Do not just serve your customer, delight your customer!
Every entrepreneur should strive to create more than a transaction with their customer, especially if you would like them to return.
Whether you are an eco-friendly clothes business or an in-demand tech start-up, you should strive to provide more than expected. Whether that is a project completed and delivered before the agreed timeline or a personal note and a small gift to the customer purchasing an eco-friendly jumper. This could be the difference between completing a once-off transaction or acquiring a customer for life.
More times than not, companies that provide an experience to their customer will also benefit from the most cost-effective method of marketing their product or service – word of mouth!
2. Organise your week and respect your time!
In order to give your business the best possible chance of success, it is vitally important to incorporate structure into your weekly routine.
Ideally, each week should be planned and scheduled before the week begins. Not only does this improve productivity levels as there are clear goals but it also means that you will dedicate 10-15 minutes into your calendar for even the most minor of tasks.
Time management is one of the skills that you will need to master sooner rather than later as your start-up will demand an awful lot of your time. That being said, you should also prioritise time for yourself away from the start-up, even if it is to celebrate the smallest of ‘wins’ that you have accomplished that week.
Motivation and drive is what gets entrepreneurs started, habitual behaviour is what keeps them going!
3. Communicate with your audience!
Every year, there are hundreds of thousands of new start-up companies formed globally, and if you are one of these start-up companies, you should be telling your story!
Talk about your product/service and explain what makes it stand out, what separates it from similar products and even what gave you the motivation to start the business.
If you have not yet identified your audience or which medium you will use to communicate with them, don’t rule any of them out!
TikTok, Facebook, Instagram, Youtube and LinkedIn are 5 social profiles that each and every business should invest time into each of them. If you want your start-up to stand out, tell us why it should!
Once you have started to create a customer profile, you can even include your audience to help you further improve the company whether it is through market research for future products or releases, asking for feedback on current processes or better yet, asking them to share their journey of engagement with your product/service.
4. Outsource to add extra sauce!
As we mentioned in our Checklist before Starting a Business, we advise that every entrepreneur knows their strengths, but equally as important, if not more important, every entrepreneur should identify and accept what they are not very good at.
We are all for self-improvement, however, there is a time and a place for it too – preferably on a beach somewhere with a cold beverage in hand, but more likely, outside of trading hours if even possible at all!
Freelancing is an industry that has grown exponentially over the past decade and thanks to websites like Fiverr and Up-work, freelancing is here to stay, and it couldn’t be easier to find affordable help.
Outsourcing often feels like cheating for many entrepreneurs but instead it should be recognised as a strength that allows you to focus all of your time on completing tasks that you perform effectively and those that create value for the business.
Others can carry out the tasks that you struggle and frustrate yourself in a much timelier manner, thus making it much more cost effective!
5. Keep Going!
Let there be no room for doubt, the next hurdle, challenge and/or issue is waiting to poke its head up. There will be days where there were no sales, or even enquiries about your product or service, some days will make you question whether it is worth it but you have to metaphorically roll up your sleeves and keep going.
If your current proposition is not working, try different methods, speak to focus groups, competitors or others that serve your industry.
‘Keep going’ does not mean keep doing everything the same, it means that on the toughest of days, you don’t give up.
Even the biggest companies in the World today have encountered a time of struggle, take Apple for example, pre-2000, the team at Apple knew no feeling better than failure and now they are worth an estimated $2trillion and employ almost 200,000 people.
As the saying goes, do something you love, and you will never work a day in your life.
Remember that as appealing as the final destination may seem, it is every bit as important to enjoy the journey!
If you are a start-up company that requires some assistance, please get in touch with our friendly team today by emailing firstname.lastname@example.org