7 ways to grow your startup
Firstly, let me congratulate you for taking this leap in your career. Deciding to start your business is challenging.
You know you have a great idea, and you are ready to create a new market for it. But you are also apprehensive about people accepting it and question its worth.
While there aren’t set rules for growing your startup, few of these tips can help you sail through it smoothly and establish your brand.
Create a vision: Whatever brought you to this level, should not go out of mind. Your core idea behind your startup is the purpose of its existence. Stay focused at your vision and ensure that everyone working for you visualizes it.
Set your goals: Once you know where to go and have chalked out a path to reach there, you must set your milestones. They can be short term goals and long-term ones. The purpose of fixing your objectives right is to focus on reaching the milestones one by one.
Set your priorities: Once you plan to start something, you come across many opportunities. Set your priorities, and don’t get distracted by everything coming your way. Choose where to invest your time and money.
Hire like-minded people: You may get tempted to join hands with people who have the right skills and experiences in your area. But you will need more of those people who understand your idea and share your vision with you, even if it means hiring someone with no experiences. A passionate partner will help you grow faster.
Focus on your cashflows: It is a tricky situation when you start a new business. Many entrepreneurs fall into the sales trap and put their focus on increasing sales. Remember to count your cash flows too. Adequate cash in hand will help you in running your business. And, avoid unnecessary debt and outside resources for cash flows.
Network: Connecting with the right people can boost your business growth in no time. Build great partners. Your shareholders, your customers, vendors and employees are your brand image. Communicate and connect with them to keep them on the same page as yours. Train them to work towards your business goals. Take advice from seniors as well as your employees and customers and appreciate each one for their contributions. Create a happy team.
Spend time with your family: A startup demands your full attention and hard work. Sadly, to the extent of staying away from your family. But, your family and friends can be your pillar of strength and give you enough motivation and support when you feel lost and exhausted. Don’t over rush and overdo things. Take breaks to relax with your loved ones and get back to your business with new energy and enthusiasm.
G Scott Paterson focuses on both his family and businesses and takes inspiration from his wife at each milestone in his life.