Grow Your Startup Strategically: 5 Pieces Of Advice For New Entrepreneurs

Building out the infrastructure to market and sell your startup’s services takes a lot of work. It can feel like an impossible uphill battle to make it to market, and then to succeed in it. But startups have a lot of benefits when engaging with potential clients that their competitors can’t take advantage of.

Build a dominant online presence.

Traditional product and service providers — no matter the industry — have not fully utilized the power of social media and website branding initiatives. Your startup can tap into these ubiquitous staples of daily life even before rolling out a product in order to build hype around your new entrance into the marketplace. Startups are built to address concerns that consumers have but cannot find solutions to. Because of this, your company likely serves an essential function for buyers. Whether this is in relation to the Covid-19 state of emergency that the United States has been thrown into or an everyday problem that consumers face. Therefore, getting your name out there on Twitter, Facebook, and elsewhere should be an essential component of your grander strategy. Building hype before your launch will help balloon your product’s consumer base when it hits the market.

Utilize a workboard for enhanced results.

work board is an OKR solution that helps teams enjoy serious results. This is a strategic framework that revolves around “Objectives” and “Key Results.” It has its foundations in IBM and Google strategy so you can believe in its power to drive business! This works on the premise that you should set objectives with a numerical value: “sell 100 items,” key results that operate as binary, and yes or no milestones on the path to achieving that objective. Using workboard software to keep your team on track is a great way to actively ensure that you are meeting your goals in substance and in timing in pursuit of a release, update, or sales target. Massive teams find these harder to implement than startup groups, so the use of a workboard plays right into your strengths.

Keep your eye on the prize, then grow your platform.

One of the first mistakes a startup can make is branching out into new product categories too early. Brand extension can be a powerful marketing strategy to energize new business opportunities, but for this angle to gain any traction you must have established a strong footing in your primary business area before branching out. Too many irons in the fire at the beginning of your startup’s life will mean that your team is stretched thin across multiple segments. Your productive capacity will be limited and costs can easily run out of control. Stick to your primary market until you have established yourself as a major player, and then begin to grow laterally.

Hunt for discounts on equipment.

Equipment for the office can come to represent a major expense category, especially for tech companies. Hunting for bargains on refurbished electronics websites can offer a unique lifeline for a startup on a budget. Refurbished laptops, tablets, or rack computing is a great way to net high-quality equipment that you and your team can rely on for a steep discount.

Don’t forget about customer service.

Once your product has hit the market its important to focus on customer relations. Offering a warranty policy or introductory low price offers is a great way to sell new customers on both your products and your brand. Keep client relationships in mind as you venture into the market in order to continue growing your brand loyalty and business for a long term success.

Startups face challenges today as they always have, but a smart strategy can help you overcome the hiccups and get a great product rolled out to the market.

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