Business has been around for as long as there has ever been a need to transact. And like so many other things that have been around that long, business has seen a lot of trends and startup.
Being in business has never been easy – not 50 years ago, not now! It’s much harder these days, to be an entrepreneur with a startup. With so many urban legends and myths, accepted ideas and obsolete methods, and the red-hot craving of millennials to become entrepreneurs, the saddening-heap of failed enterprises keep growing.
The good news, though, is that you don’t necessarily need a degree from a business school to own a startup as an entrepreneur. There are absolutely no boundaries to who can become a successful startup. Be sure what you’re building; a startup or a small business: what is the strong difference?
We make sure of that at Start Innovation Hub!
So, let’s have a look at these Tips you Should Know as a Startup.
1. An Excellent Idea is Never Enough
Undeniably, it is essential to have a great business idea that works. Everyone appreciates beautiful ideas – the type that makes your jaw drop in awe. It is also true that an idea alone can get you airborne, but it can’t keep you there. Well, without a good business strategy to back it up, it won’t.
To make money, understand the business in your idea then develop, and market it in the best way. Find out the 7 must-know insider tips for a successful pitch.
2. Appreciate Feedbacks, But Don’t Obsess
Feedbacks are great for adaption. Consider them a free consultation, if you will. To have your products or services evolve into the perfect piece (hopefully), develop an attitude of getting feedbacks. Listen to understand.
Now, as much as we need the feedback, filter the signal from all of the noise. Understand the second customers. Give them attention, but focus on your first customer. Build excellent customer service and relationships.
Always say “Thank you” to feedbacks – they are free.
3. Make Change a Companion
Yeah, that’s right! Make change your companion. If you don’t want to break, you’ve got to bend. The best way to survive is to roll with the punches.
Standing face-to-face with hard choices, and staring down a seemingly dark alley of change can be rather tumultuous. You don’t fight it though – it takes more energy.
Find out what’s not working, what would work, then make the change for growth. Changing what needs to be changed is not a failure.
4. Build a Workable Team
No matter how exceptional you are, you can never have all the expertise your startup needs. Before I started my writing career, a few years back, I started an enterprise, that I ran into the ground – playing superhuman.
Find out what your startup needs. Run an appropriate hiring process for those roles. Above all, have a culture, value, mission, and vision for your business – clearly communicate it.
Build your team and collaborate to achieve team GOALS! Check out the 5 Effective Tips For Collaboration in The Workplace.
5. Start Right and Keep it Tight
If you don’t do it right at the start, it’s most likely to spin out of control. Register your business legally with the appropriate agency. If you own business In Nigeria, have it registered with the Corporate Affairs Commission (CAC) and any other associated agencies. Start with a workable design for your business, and get to it. You can always make it tight as you grow.
Develop a strategy and get to work. But remember, the work continues. Do not run wildly through a hideous gamut of problems, because of a strategy. Know when you need a change of approach. Good Customer service and experience would make a lot of difference.
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