As a young entrepreneur/potential entrepreneur, always remember one thing: If you think starting a business is tough, the water just touched your feet. It isn’t the inception but the sustenance that is always the toughest. However, it doesn’t need to be, if you keep some things in mind.
If you have a destination, the journey is really important. No great deed can be devoid of frustration and can be achieved without patience.
As an entrepreneur, there are 5 commandments you should swear yourself by. Not that they are written in stone but they can potentially help your business grow bigger (and if that isn’t your goal, what is!).
5 Ways You Can Help Your Startup Grow Bigger
Brand Recognition- If you want to go up, so should your brand. Print visiting cards, hand them out at startup fairs, house parties, parties, anywhere. Take a bit of time and let them know what is that you do and other necessary (and relevant) details you would want them to know. Are you a product-based or service based company? Brand recognition is especially important right now, considering that there are so many startups out there. If you want to upset the order, let them know you are in the game.
Offer Deals and Gift Cards- You can attract potential customers by offering them a better deal than your competitors. That doesn’t mean you start generating less revenue. Just means that you can give them great offers and products/services at a low price than the market. You can also start with gift deals like these. Some of the most popular companies do this as well. This not only this helps in brand recognition but also beating your competition. As Don Corleone would say, “Make them an offer they can’t refuse.”
Hire The Right People- The guy with the fanciest degree might lack the business acumen. Sure, he/she might know a lot but there is so much more to it. Cultural fit, attitude, and dedication- these are somethings you can look for in a candidate. Does their past indicate they are problem solvers? Or perhaps it indicates their persistence? In fact, in one of the articles written by Forbes, it explains what you should keep in mind when you are hiring new employees.
Stick To Your (Quarterly) Goals- Okay, so your long time plan might be X number of sales or something else. But as the phrase (cliche) goes: Each great journey starts with one single step. It is extremely important to stick to your quarterly goals, no matter what. Small slips lead to major failures. No matter how big the visualization of your end goal, break it into quarterly and monthly goals and work towards it. Ensure your employees collaborate and keep the communication flowing.
Expand Your Network- Network, network and if you have some time left, network. Never underestimate the power of social interactions and effective networking. Case in point: Steve Jobs and Steve Wozniak. You never know the kind of support or strategic alliance you might crack. Some of the greatest companies came into being because they merged or formed an alliance.
As I mentioned before, these are commandments which aren’t written in stone. But your legacy just might be, if you keep on following your goals. Entrepreneurship isn’t easy. If it were, everyone would be doing it.