4 Tips For Startup Businesses

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When you are setting up your own business, you are firing on all cylinders, probably getting very little sleep and have ideas coming out of your ears. There is so much that you know that you need to get done, from funding to premises to business plans. It is a frantic and busy time, a time you are never likely to forget. When it’s all in place and your business has finally launched, it can be difficult to know which areas are best to concentrate on next. Which is where we come in as today we share with you 4 tips for startup businesses.

Look after your team

Your business will rely on your team, so you need to prioritize looking after them.

To help your team to grow and enjoy working with you, they will need clear initial training and ongoing coaching and support. It should be open and friendly and any feedback should be constructive. This should enable everyone to feel confident and comfortable in the role that you are asking them to fulfill. 

Your team needs to feel invested in your business in order to give the best of themselves. To engender this, involve them in all aspects of your business and communicate with them regularly. Hold team meetings to share updates and encourage ideas from everyone. Book in one to ones with each member of your team to allow them time to talk through their work, their progress and any potential issues. Offer your support to help them to achieve goals or address any shortfalls in their performance. 

Most importantly, ensure that they feel appreciated and important to you. Get to know them, look out for opportunities to praise and thank them and reward appropriately when you see a job well done or want to celebrate your successes. 

Keep up with technology developments

It is worth always looking out for software, technology and packages that can make your business run more smoothly, such as investor crm software. These products will ensure that you can deliver a greater level of service to your customers, and usually with less effort on your part. They are specifically designed for a certain job, one that might currently be taking up the time of several members of staff as they use many different systems. Take the time to look around for products that can take some of the work out of your processes for you. 

If this is not your area of expertise, it will always be someone’s, so delegate the task to a team member or stay in touch with others in your industry to keep abreast of any developments. 

Develop your own marketing strategy

Marketing is key for every business, no matter your niche. What can vary widely here is the amount of time and money you choose to invest in it. 

You might choose to invest a lot of your own time here, rather than heavily invest financially, and there are plenty of ways to do this. Many businesses are able to build strong followings and customer sales through effectively utilizing social media, free to use in most cases. Others have strong email marketing campaigns or content marketing strategies. In these cases there is a significant time commitment required, but very little monetary outlay, so you will need to weigh up whether this works well for your business, or whether outsourcing to specialists will make more sense on balance.

Build strong relationships with your customers

Your initial customers are likely to be precious to you and rightly so, you will want to look after them and build strong relationships with them.

Anyone that experiences your business could potentially be talking about your business the next day with a friend, so these early interactions are absolutely key in developing your reputation. Word of mouth is a very powerful marketing tool, and these days that extends to people talking about your business online too. A great rating on trusted review websites can really boost your business, as can people talking positively about you on social media. 

Take the time to ensure that those initial customers receive the very best from you, encouraging them to return to you as repeat customers and share their experiences with others. Ask for their opinions on what you have delivered to them and make it clear to them how much their feedback is valued. Use any feedback to improve your service and shape your business going forwards and thank them for helping you in this way.