Building up a startup company is hard work, no one ever said it wasn’t. Some companies become more successful than others. But why is this? Certain startups stick to the book and follow the path to creating a successful business, while other companies jump the gun and aren’t necessarily thinking every step through. When starting a company be sure not to make these common mistakes:
Striving for perfection
Perfection kills progress. When you’re trying to build a business it’s important to keep up the momentum. At the beginning of a company you will have an abundance of ideas and want to get everything done but you must prioritize what needs to be done at a certain moment. You can’t tackle everything at once. When you are working on something, make it as good as you can but don’t obsess over making it perfect. Keep in mind that you don’t actually know what will make your product great until a customer actually uses it. Constantly move forward and remember that you can always go back and improve something.
Not utilizing social media
In today’s age of technology the world of marketing revolves around social media. Without a solid social media presence as a core part of your marketing strategy your company is at a significant disadvantage. It might be a good idea to invest in a staff member who is solely dedicated to ensuring that social media is utilized appropriately and to its full potential.
When you are starting a business there is no doubt that you want to launch it as soon as possible. You are excited about your project and the work that you have been doing and are eager to start to see a profit. However, it’s imperative that you have the proper internal systems and processes in place before you launch. If you launch your company before you are actually ready then you will have a rough start and might not succeed.
Hiring too quickly
If you talk to almost any CEO they will complain to you about how hard it is to hire and retain great employees. This problem multiplies for startup founders who frequently can’t afford to pay their employees a decent salaries yet need help to manage everything that comes with starting a company. Ensure that when you hire people, especially at the very beginning of the company, that they understand the company and the vision that you are striving for and aren’t just looking for a job.
Not listening to customers
You’re in business because of your customers. If you don’t give your customers what they actually want then you will never succeed. Talk to your customers to learn why they buy your product. Put all of your focus on that reason and become the best at it. That is the only way that your company will succeed.
Starting a company is difficult, but with hard work and determination it is possible to succeed!