You want to know how to click the right buttons? Strike the right chords? How to make sure you take the right steps to turn your startup baby into a successful corporate?
Here are a few must do’s to ensure success with a startup:
- Have your processes organized
- You obviously don’t want things to be scattered all over while brilliant brains agree to join your venture.
- It is important to have the core processes like HR/Finance/Admin in place so that there is a sense of preparedness.
- Basic requirements like timely issue of the appointment letter, HR Policies, Salary coming on time should be taken care of to build upon initial trust with the employees.
- Hire & Retain Good People
- While you are investing on people, invest on better people.
- Give your employees an opportunity to grow and offer them the right environment to stick to you
- Have an atmosphere that fosters creativity
- You are new kid on the block and you know it. What is important now is how creatively you can go out to beat the biggies of the game.
- Out of the box thinking, breaking old rules would play a crucial role here. Why not build upon an organization that allows people to be creative, to suggest ideas, to freely brainstorm, communicate and make breakthrough with the old ways.
- Have a roadmap, vision defined
- If you start walking without a goal, all roads shall lead you there. So it is imperative that you know where you want to reach and define a route directing towards the destination.
- Break goals into short-term achievable targets
- Well it’s great if you have the vision in place! Now it is time to take the steps towards your goals.
- Break the defined steps into baby steps and work towards them. Not with haste, but with the focus of achieving that one big next thing on your list.
- Even though the process looks slow you can be sure that you are at least moving towards and not away from your aim.
- Set your target audience right
- It is important to have the correct positioning, market segmentation before you reach out to your customers. The clients should have a need that you cater to.
- Plus, the pricing strategy should be well placed; penetrative yet profitable to the company.
- Know inside about your competition
- When you are there to compete in the big market, the preparation would be incomplete without having a hands on knowledge about your competitors
- Here having an inside out about both your direct and in-direct competition is to be included.
- Using this make sure you have a strong USP or a clear competitive advantage to project to the clients.
- Measure you success drivers
- Have clear, distinctive metrics to measure.Then, monitor them at regular intervals.
- These metrics could be in terms of awareness, revenue, no. of new customers acquired or anything else that you feel is indicative of an important attribute towards success.
- Ensure customer delight
- Difficult to think of a business prospering without happy customers. Thus, it goes without saying that keep your clients delighted. Service them well, engage with them. This will not just give you repeat business but also help you to build upon references for your company in the market.
- Lastly, Be Up To Working Hard
- Don’t get bothered if things do not work out from the start. Change ways, innovate, be persistent and focused about steering forward.
- To conclude, don’t shy away from burning the midnight oil, from going that extra mile, play to win and overcome hurdles with a smile!
