Start-up businesses are experiencing a growth in popularity right now. 2014 saw more businesses registered than any other year. While it’s great that lots of new businesses are being formed, it also means that there’s more competition out there. So what can you do to keep your start-up business growing? Read on for some useful tips.
Make yourself known
All start-up businesses start off with no one knowing about them. If no one knows about your business, you can’t expect growth isn’t going to happen any time soon. The more people there are who know about your business, the more of a chance it has to grow. Make a lot of noise and get yourself known. Have a think about what sort of marketing campaign would be best for your business and invest in one to get your business’ name out there. Don’t limit your imagination, go old school and hire a trailer as a way of grabbing people’s attention – trailers are great, especially for events as they’re inviting and drum up a lot of local interest in your business.
A trick that not many start-up businesses consider is to overhire for key roles. Having more advanced and experienced staff members on board can be of great help in two ways: firstly, more experienced staff can help your business grow more than less experienced staff; secondly, having more experienced staff means that when your business does grow, the staff you have will be capable of handling this larger business. In other words, when you’re a start-up business, don’t hire staff who are only capable of dealing with start-up business roles; hire staff the next stage up.
Scale your business’ importance up
When it comes to promoting your business, advertising it as a small, start-up company might not attract that much interest. You have to be prepared to make your business sound unique and to make it seem more important than it actually is, otherwise you won’t stand out from the crowd. By all means be accurate in what your business offers, but also have the confidence to make your business seem like it’s better than other similar ones out there. If you’re confident about your business, it’s more likely that people will place their confidence in you and not in one of your competitors.
It’s easy for start-up business to go nowhere. In fact, around half of start-ups fail during their first five years of operation. One of the best ways to give your start-up a decent chance of succeeding is to create deadlines and to instil a sense of urgency in your staff. Of course you don’t want to put too much pressure on your staff, but some pressure to get work done sooner rather than later can work wonders. Make everyone involved in your business stick to realistic deadlines that will make them more productive, but won’t make them too stressed out or pushed for time.
So when it comes to making your start-up business grow, there’s no guaranteed way of doing it, but following these steps will surely give your business a better chance of growing to its full potential.