Everyone wants their new company to be successful, but how do you achieve it? These nine strategies are here to help your start-up grow.
1. Identify What Makes You Different
If you want customers to choose you, you have to give them a reason. In a world of options, what makes you different?
- Do you offer a unique product, service, or way of doing business?
- Do you have a motto or guarantee?
- Do you have a track record of success?
Consider what makes your start-up different and put it in your marketing.
2. Know Your Value
It’s hard to be objective when you’re talking about the value of your services. What you should charge can be hard to calculate. Avoid these common mistakes when placing a value on your services:
- Underestimating Your Value.
Don’t insult your own work by giving it away for less than it’s worth in the hopes of attracting more customers.
- Overestimating Your Value.
Look at the prices your competitors are charging and see how yours stacks up. It’s okay to charge more for quality, but if it’s too much more, people won’t pay it.
- Working For Free
Unless you’re doing charity work or being offered high-level exposure, you shouldn’t be working for free.
Your work has value, it’s important that you know how much.
3. Target Talent
A successful growth strategy must include hiring the right people. Target talent by:
- Outlining your company culture so appropriate people can find you.
- Bringing in a recruitment company to lure in better applicants.
- Building an environment that allows people to show off their talents.
The right team can turn a start-up into a Fortune 500 company.
4. Aim For Your Audience
Identify the customer base that is most likely to benefit from your services and market to them.
- Search for shared factors among people who already buy your product or services.
- Identify what type of marketing will reach the most members of your audience.
- Launch campaigns directed at that audience.
Knowing your audience allows you to reach your audience.
5. Share Your Message
Customers relate to a message. They like to know what motivates you and your start-up. Think about why you started your company, and craft a unique brand message to give to your customers.
- Include your personal story.
- Keep it short and simple.
- Make it relatable.
Craft your message and include it in your marketing campaigns to add a touch of personality to your start-up.
6. Build Strong Bonds
Having good relationship-building skills is a key ingredient to entrepreneurial success. Build strong bonds with your employees, customers, and peers by:
- Helping others achieve their goals with no expectation of a reward.
- Accepting criticism and working to improve.
- Mentoring young talent.
Business is about who you know, so nurture your professional relationships.
7. Exceed Expectations
Give people more than what they pay for, or expect. Everyone remembers a company that goes above and beyond, so here are a few ways to exceed expectations.
- Provide the item or service sooner than expected.
- Give discounts to loyal customers.
- Create custom packaging or thank you cards.
- Provide excellent customer service.
Give your start-up a headstart by exceeding everyone’s expectations.
8. Spend Responsibly
Create a strict budget for your start-up’s first year.
- Include all necessary expenses.
- Make an emergency fund.
- Check-in regularly to make sure you’re on track.
- Keep all receipts and transaction paperwork for tax time.
Creating a budget at the beginning will help keep you organized, on time, and out of debt.
9. Invest In Video
Video marketing is the way of the future. As companies turn their marketing efforts to Gen Z, they’re switching to video because it’s their most consumed form of content. Invest in video by:
- Producing quality content that’s under two minutes and shows your lighter side.
- Showcasing honest reviews.
- Creating a consistent upload schedule for your content.
An investment in video is an investment in your start-up’s future.
If you embrace these nine strategies you’ll see your start-up growing in no time.