Not every person launching a startup has the luxury of getting investors right from the beginning. Of course, it would be much easier to launch a new company with sufficient finances, but that’s not the case with many startups.
However, there’s no reason to postpone the launch and wait until money turns up. The biggest failure that ultimately results in the end of a business might not the funding at all. It’s the business strategy and various factors that let you gain the momentum.
What are they? Is there anything you should avoid? These questions will be answered in the top ten dos and don’ts for startups.
Top 10 Do’s and Don’ts for Smart Startuppers
1. Do It For Passion, Not For Money
Of course, money is a big reason why you decide to start a business. However, an overly money-focused mindset is a bad thing when it comes to the beginning of your journey as an entrepreneur. Big revenues don’t happen overnight.
Don’t start your company with the sole focus of making money because it makes you focus less on other things, such as customer satisfaction, quality of the product, and so on.
2. Do Use Automation
Both startups and large companies use marketing automation tools to save time and effort and facilitate the customer journey. As the result, the business becomes more efficient because these tools do many useful things for you, such as customer replies, social media posting, and so on.
It is simple and incredibly useful. For example, emails can be automated so you can expose your business to a larger audience.
3. Do Aim To Diversify
Startups need to seek new revenue streams right from the start because a single revenue area is insufficient to move forward. It’s much easier to earn even 2 percent in several revenue areas than to dominate one.
To gain momentum by getting more sales, startups need to diversify their business and make their way into several markets. The more different customer groups that know your business the better.
4. Do Something You Know About
If you start a company in an industry that is largely unknown to you, things can get very ugly. You may not know some insider tricks that might help you, but in addition to that, you’ll pretty much have no idea what you’re doing.
Don’t underestimate the power of guest blogging, organic search, and word to mouth. A lot of startups disregard these methods because they have this notion that if something is free, it is not going to provide any value to the business.
However, the truth is, in many cases free (or the cheapest) marketing options provide the highest marketing value. You just have to use them in the right way.
There are always people who can do more for less money. But can you really afford to spend the money for simple jobs? You could easily do them yourself, and this would cost your business nothing.
For example, let’s say you waive a lunch delivery service and save around $150 every month. While this doesn’t sound like a lot, the cost will increase over time until it reaches a pretty decent amount, let’s say, $1,500. Wouldn’t you just love having this money when you’re starting a business?
7. Don’t Disagree With The Customer
Customers are the people who shape your business. They define the characteristics of your product or service. They provide the money. They contribute to your success.
If you disagree with them, they won’t buy anything from you. You’ll also have to resolve the conflict in their favor or suffer some bad PR.
8. Don’t Think Learning Is Impossible
You as a business owner have a lot of responsibilities. But imagine for a second that your company needs a unique skill that none of your employees have.
Somebody needs to step up here and it should be you! Learn how to code, design, train, or whatever your business requires. Don’t be afraid! You might actually be quite surprised by your ability to learn new things.
9. Don’t Send a Mixed Marketing Message
Many startups fail because their marketing strategy sends more than one message across all platforms. As a result, their customers become confused.
Always have one simple, unified marketing message. Occam’s razor not only applies to philosophy, but also to business. You can accomplish your goal best by communicating simply.
10. Don’t Settle
One of the common mistakes committed by startups is settling for less. They achieve a small milestone and become satisfied with themselves. As a result, they lose concentration and the initial intensity.
Don’t settle for the results you already accomplished! Go for more! You as an owner should be the driver that propels the business forward at all times.