Home Business Insights & Advice Simple steps to supercharge your startup

Simple steps to supercharge your startup

by Sponsored Content
10th Nov 22 4:59 pm

Getting the ball rolling when you start up a business can take time, but once you get some momentum your company can start growing faster than you can manage. Turning a startup into a thriving business takes time, money, and planning. These simple steps can help you to push a business to new heights, and handle the demands of rapid growth.

Plan for growth

Without making a plan, you are planning to fail. If you want to grow your startup you need to have a plan in place to absorb the growth. There is little point in chasing down a big sale if your business does not have the capacity to satisfy the demand. Make room for growth in your business and have a plan ready for expansion.

Outsourcing elements of your business is the perfect solution for startups. Many departments and services that your company uses day-to-day can be outsourced to a dedicated, experienced business. They can offer extra capacity as you grow, taking care of the admin and tech support tasks while you concentrate on growth and sales.

Business IT support can be expensive to run in-house, but when something goes wrong having experienced and qualified support is crucial to stay operational. Every business can save money and get better value from their IT budget by outsourcing tech support to Totality Services. They can offer onsite IT support in London, and online support to any business in the UK. Their award-winning service can solve problems quickly, keeping your business operational when software crashes or a system goes down.

Create a marketing strategy

Startups, small businesses, or multinational conglomerates; everyone needs marketing. For a startup to grow it needs an effective strategy that will announce its entrance to the marketplace, and can quickly convey what makes it different from the competition. With a reduced budget, flashy campaigns on billboards and in newspapers will be out of the question. Social media can yield great returns on your marketing investment, however.

Even local businesses can get a lot from online social media advertising. If you are competing nationally or internationally, social media marketing can get your company on the screens of millions of affluent consumers. By having an engaging social media presence, your startup can communicate with consumers and get some free marketing through posting and comments. Paid advertising is also effective on platforms like Facebook and Instagram.

Working with social media influencers has been successful for many startups. Your options for partnerships may be limited depending on what you do and your product. There are communities online for just about anything you can think of, so you should be able to find some fans and influencers in your field somewhere.

Get to grips with your finances

As a startup, you should already be taking your finances seriously. Bad habits start early. If you want to stay one step ahead of your own business and be able to keep it under control, become a master of the balance sheet. You will need to budget for your growth including the costs of your marketing, extra inventory, and additional staffing.

There is a lot of help available online if you need to become a more proficient Excel or Google Sheets user, and plenty of advice on how to manage business accounts. This is also another outsourcing opportunity. Handing the books over to an accountant can free up a lot of time, and they will be able to help you plan for your expansion too.

If your startup could do with some investment, search around for some extra funding from private or government sources. There are a lot of government-run development schemes and tax incentives for boosting startups and helping them grow. Private investment can come from a venture capitalist or a bank, but you can also generate funds through crowdfunding on sites like Kickstarter and GoFundMe.

Network to get work

Sometimes it is not what you know, but who you know. The startup scene is incredibly cooperative, and there are many entrepreneurs in the same boat you are that have learned lessons they can pass on to you. It is not just other startups that are willing to help and share information. Many investors may not be ready to start funding your business, but they will give you some free advice. Follow it and they may put their money where their mouth is later on.

Look for business conferences and networking events that you can take part in. LinkedIn is a great way to make professional connections that can be beneficial to your company. With an active presence on the site, people can find you too. This can lead to everything from new customers to new recruits. If you offer a business-to-business service, your LinkedIn profile can be a portal for new connections and contracts with clients.

With a plan in place, a marketing strategy, and financial discipline, you have everything you need to start growing and handle the pressure as you do. Remember to network too. Every entrepreneur and every small business needs a support network to get through growth and establish itself in the marketplace.

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