The urge for people to be their own bosses has led to the birth of many startups. Unfortunately, the bleak truth is, 90% of these startups fail within the first five years. So, how do you ensure your startup is part of the 10% that succeed?
The way you run a business is a major determinant to the success of your business, and so are the practices performed before and during the business’ kick-off.
In this article, we are going to discuss various strategies to implement for your startup to get off the ground.
Let’s delve into specifics
Employees are indeed a business’ most valuable asset, only if they are the right people. Avoid hiring employees based on how you know them. Rather, go for talented and experienced professionals who have something to bring to the table.
A lot of effort and scrutiny goes into hiring the best people. Come up with a list of interview questions beforehand to ensure you are also well prepared. It also ensures potential candidates are asked the same set of questions to make it easier for you to compare and identify the best of the best.
If you are not fully conversant with the hiring process, it is advisable to hire the services of a temps agency. That way, your startup does not go through the tedious recruitment process and can focus on other business-related stuff.
Develop a website
A website is an online reflection of your brand. What’s more, it is the first place prospective consumers and investors will look when searching for you. As such, it is imperative to have a website for a startup.
Websites allow brands to get exposure. It also broadens its online visibility.
Additionally, with the current technological advancements, it is not ok to have a web design that is not attractive. Web-users need attractive, well thought-through, and responsive websites. By doing so, your website becomes user-friendly, which is a major contributing factor in search engine optimization (SEO)
Advertise your business
Creating a responsive website and hiring great employees is only part of the work. Advertising plays a huge role in determining the success of any business.
There are various ways of advertising your business. Billboards, televisions, radios, and newspapers are some of them. However, most start-ups are strapped on cash, and the above conventional methods of advertising might be expensive. This is where social media comes in.
In this digital era, social media platforms are some of the most effective forms of advertising. Furthermore, they offer advertising options for free or at a small fee. With the millions of people scrolling through the various social media platforms every minute, it is the best place to start to introduce your product or service to the world.
Offer exceptional customer service
One thing you might notice with established brands is, they have a team of customer service agents who offer exceptional service to their clients. This means addressing all their queries, being available 24/7, and making the purchasing process as seamless as possible.
By doing so, you quickly build a large customer base.
With the above pointers, your startup is on the way to being an authority in your niche.