Startup businesses; the fledgling full business, it needs time, money and skill to grow up into a big money maker, and if you’re running a startup then we’re going to bring you some bad news; this is the most risky part of your journey as a business owner! The startup phase is where most businesses fail, but they fail because they don’t prepare correctly, so read on to discover the best 3 things to do to make sure your startup survives.
Don’t Get An Office Yet
Getting office space can be very tempting as a business owner, in fact when you imagine a business you often will imagine a big office block, so you’re going to need one in order to be a successful business, right? Wrong! Offices are only for when you really need them, they’re housing for you and your employees and during the startup phase, you’re not going to need it. If you do get some, you’re going to find you aren’t working with anywhere near the amount of people that you need to justify an office space, everyone you work with should either be freelance or from home, so don’t get an office space until you need it because you’ll be paying loads for nothing!
Customer Satisfaction Surveys
All major businesses use these, do you know why? Because they offer a unique insight into the mind of the customer, and it’s something you need to be able to understand in order to get your company off the ground and propel into success. By making use of a customer satisfaction survey, you’re able to see what a customer likes, and dislikes about your company; when you know this, you can fix the areas that are bad and keep the areas that are good, so that your customers then have a better experience with you and are much more likely to return!
Social Media Advertising
Just like with offices, most startups make the mistake that advertising has to be done on the radio or on the tv, which leads to one of two things. The first thing is that the company cannot afford it and so they go without any advertising, and they fail because no one knows about them. The second thing that can happen is that the company spends all it’s money on a few seconds of airtime, and then goes bust because they have no money left. Avoiding both of these is advertising on social medias like facebook. You’re able to pay for how many people you want to see an advert that you’ve made, meaning that you can perfectly budget how much money you’re going to spend on an advert because it’s down to you. This gives you the ability to get exposure without spending too much money, which is something all businesses need.
As long as you do all of these things, you aren’t going to overspend on advertising, you’ll know what you need to improve in your company and you’ll not be spending huge amounts of money on an office space that you just don’t need. Another thing that startups have trouble with is turning website visits into sales, but if you read this you’ll not struggle with it any longer!