Starting your own business is never an easy venture. You will want to make it the best place to work, but that is easier said than done. You will need to build an online reputation and protect yourself from defamation while increasing the volume of sales consistently. You are also responsible for ensuring you can fund expansions and take your business to the next level.
One great place to read about taking your business up a notch is Solution Tales. Founded by Siddhesh Jain, Solutiontales is an all in one information-based blog that aims to supply entrepreneurs and business owners with information to aid their growth.
The difference between Solutiontales and other similar blogs is that it offers a clear vision and knowhow that has been formulated from Siddhesh’s experience – both success and failures. Start-ups are tough but Solutiontales aims to help you and have helped us by providing information for a solid article on building a great start-up. .
Have A Solid Plan
All good companies will start with a solid plan. While writing a business plan for the first time can be scary, you should start with writing down everything that is in your head about the business. You need to include any long and short-term goals you have.
The short-term part of the business plan will need to have details regarding what you are going to do and how you will do this. The long-term aspect will look at how you plan to grow your start-up. While this will be more flexible, you need to be as accurate as you can be.
It is important to note that you can change the plan in the future. The chances are high that you will need to change some aspects of the plan at some point. The ability to change and pivot is what makes a start-up successful.
Start Networking As Soon As Possible
The best way forward is through professional networking. According to Siddhesh business connections can push your company to the next level, but you only get these connections from networking. Word of mouth marketing is still going strong and 88% of people will trust the reviews of online customers as much as they trust their friends and family. This is why you need to start networking early, but do it for the right reasons.
Networking early will help you get great talent for your business in the future. A lot of big companies have the best talent because this talent never reaches the open market. They are headhunted and claimed before anyone else has the chance to approach them.
If you are new to networking, you should sign up for a LinkedIn account and start joining groups there. You should also try attending some in-person events dedicated to networking.
Surround Yourself With The Right People
Running a business will be hard and you need to ensure that you have the right people around you suggests Siddhesh. Strategic partners and mentors will become crucial when you are in the initial growth phase of the business. When you have the right team, you will be able to achieve much more than you would on your own.
If you want to have a successful business, you need to have the right team. Networking will help with this, but you also need to hire the right people for the job in the first place. Your business should also be an environment where everyone can participate to form a positive culture. Together you will be able to achieve a lot.
Stay Ahead Of Everyone Else
If you want to be successful, you need to be able to adapt and keep up with the latest trends. There are a lot of companies that go under because they are not able to keep up with their industry and the current market. You need to take the time to study your competitors and look at the major trends in your industry. You do not have to react to all changes, but you have to embrace the right ones for your business to succeed suggest Siddhesh.
Have A Work-Life Balance
The balance of work and life will need to be equal. This can be hard with a start-up as you struggle to disengage from the business. The business is your baby and you will not want to leave it alone for a second, but you can and need to do this.
You should maintain hobbies and enjoy your downtime. This will leave you refreshed and help you avoid any burnout. Your business will be fine without you for a while through delegation or auto-pilot.
How To Avoid Failure
Successful start up founders are able to change with the times, surround themselves with the best people and have a healthy work-life balance. Of course, there are no guarantees of success even when you use these tips. It is very common for start-ups to fail with 90% failing in the first five years. However, adopting the right strategies can increase your chance of success.
