When it comes to startup companies, many owners are simply too afraid to take the next step. But if growth is what you seek, it’s time to take some steps to move outside your comfort zone and take the steps necessary to change your situation. These steps can also help you get noticed when it comes time to find funding sources.
1. Hire People
When you started your business, you were the owner, the laborer, the receptionist, the accountant and the salesman. Now that you are ready to take the next step, it’s time to start trusting people to carry out some of these tasks for you. Many business owners believe that they simply can’t afford to hire employees, but the truth is that they simply can’t afford not to. The lack of production and failure to grow your business has far greater costs than paying a few salaries.
2. Pick Battles
Business owners often get mired down in the minute details of running their businesses rather than seeing the bigger picture. Don’t let yourself spend weeks contemplating what color to make the lettering in your logo. The logo design will change as your business changes. Rather, spend your time on more constructive battles, like getting more paying customers through your doors.
3. Make Noise
Next to raising capital, the single biggest problem facing every startup company on the planet is getting noticed. The only way you will grow your business, increase your revenues and ultimately your profits is to make your business stand out from the competition. Make noise, get critics and then turn them into loyal customers.
4. Fake It
If you want to be a big business, you have to present yourself like one. Rather than introducing saying “I own a small web design company,” say “I own a web design company that guarantees your company increased sales.” See the difference? The first statement makes you’re a new customer wary of your ability to meet needs. The second one demonstrates your confidence in your work and your ability to make money. You need to know your business inside and out and be able to explain it in a way that demonstrates you are better, faster and more valuable than the next guy.
5. Create Goals
If you started your business like an experiment rather than as a jump point to bigger and better things, then you will find a million and one reasons why you should keep things just the way they are. You need to set aggressive goals for your business and then work hard to achieve them, no excuses. Being a business owner is like running a marathon comprised of a bunch of little sprints. Winning these races creates momentum. Set expectations and then follow through. The pressure to perform doesn’t result in bad products, it produces results.
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