What are the Do’s and Don'ts for Startups
Published on: 2022-02-28 08:26:42
A start-up is a business that is still in its early phase of development. It’s when one or more entrepreneurs produce a completely new service or have a new idea for an ongoing product.
However, these companies often have under-developed business models and tend to start with high costs and low revenue, which is why they have to seek funding from external sources such as friends, family, savings, and venture capitalists.
And so, to avoid such pitfalls, this article will guide you through the dos and don’ts of starting a business. From ideas to ensure your success, to things to steer clear of at all costs - read on to find out how to grow your business significantly … and avoid ruining it completely!
- Instead Of Selling, Start Sharing:
So, concentrate on being interested in your client, paying attention to their demands, and building a good rapport with them. This will make you more likeable and trustworthy, and increase your chances of sales.
- Do: Pay attention to your customers' words and body language.
- Don’t: Bring out a brochure or sales sheet, unless specifically requested to do so.
- Make a Difference:
Make sure your product or service offers something unique to distinguish yourself from the competition. You must identify a niche in which you can excel, so use your imagination and ingenuity to stand out from the crowd.
- Do: Speak with genuine consumers and request a report card.
- Don’t: Examine the trend from the previous week, quarter, or year.
- Solve Challenges For Which People Will Pay:
Revenue is proof of success and so always consider, is this a "nice to have" item, or a "must-have" one? Make your most consumers think of you first when they need something in your industry and be certain you have more than just one good concept.
- Do: Test, modify, and keep trying.
- Don’t: Call it "research" if you ask your friends or relatives.
- Make Use Of Your Customers:
Remember that if customers are happy they tell their friends about it. So always ensure good customer relationships and satisfaction - as they may also be using your product or service for purposes other than the ones you planned, and so can give vital feedback.
- Do: Allow your connections to try your product or service with ease.
- Don’t: Ignore the drawbacks as there could be a valuable revelation concealed within.
- Make Yourself Visible:
To get seen, you need to be engaged in the communities that you serve so that people know where and how to find you. So find imaginative ways to utilize your contacts to increase your outreach. Remember, the best-kept secrets remain just that.
- Do: Put your money where your mouth is.
- Don’t: Hide in your office or behind your computer when you're on the internet.
- Create Unforgettable Experiences:
Customers form relationships with you based on their cumulative experiences with your personnel, product, service, and company. So make sure you deliver on your promises every time you engage with them.
- Do: Keep reinforcing your main points in everything that you do.
- Don’t: Don't forget that every employee and partner is also a brand ambassador.
- Prioritize Your Passion Over Anything Else:
It's difficult to compete with someone who wakes up every day feeling energized and full of business ideas. Customers, employees, partners, and affiliates can tell if you are not being genuine - so find something else to do if you don't like what you're doing!
- Do: Work on something that you enjoy and believe is significant.
- Don’t: Waste your time - it is important to value the assets that you have.
By Priyansha Khadka
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