tips to make your startup successful

7 ways to make your Startup successful

Every big company starts with an idea.  Some ideas are either new to everybody or just an upgradation to an existing one. But every idea solves a problem.

“Necessity is the mother of invention”

So, if you are about to start a new venture, make sure to apply the points written below to make your startup successful.

As per a research, startups with a technical co-founder perform 230% better in enterprise companies.

7 ways to make your Startup successful

  1. Focus on solving a problem

  2. Decide your target customer

  3. Have a business plan

  4. Have a strong team

  5. Be present online

  6. Use Digital Marketing

  7. Provide a good customer experience

1. Focus on solving a problem

Your startup should be either solving a problem or have an improvement over existing ones. Having uniqueness helps in distinguishing your business from the present ones.

Henry Ford once said, “If I had asked people what they wanted, they would have said faster horses.”

So, sometimes it becomes your responsibility to give something to people they have never imagined.

2. Decide your target customer

You should know it from the very start who is your target customer. Business becomes easy to do if you know your target customer.

For Example: If you make a product “X’, you should know what kind of people will buy it. Click here to know ways on how to decide your target customer.

3. Have a business plan

Dream without a plan is just a wish, and planning makes it easier to execute a business. A business plan helps you in removing the uncertainties. It gives you a clear picture of your target industry and market.

Your business plan should contain

  1. Your target industry and market
  2. The strategy you will use to target them
  3. Your team
  4. Your detailed marketing plan
  5. Business operational plan
  6. Financial plan

If you need a free business plan sample, click here.

4Have a strong team

Have you ever seen a big company with a single person? Obviously no! Because to be successful, you need a reliable and strong team. Make sure to hire people for the work you need and not for their experience.

5. Be present online

If your business is not online, it will be out of business soon.

According to research, 88% of consumers research online before making a purchase—whether that purchase is online or in-store.

So, make sure to have your business presence online.

6. Use Digital Marketing

Digital Marketing is the need of the hour. So, with traditional marketing also add digital marketing in your marketing plan.

3.80 billion users around the world are using some form of social media. So, use Fb Ads, Instagram Ads, Google Ads for your digital marketing.

7. Provide a good customer experience

Good customer experience is the reason your customers will come back to you.

96% of customers rank good customer experience as the reason for their loyalty to a company.

Summary:

  1. Focus on solving a problem
  2. Decide your target customer and work on it
  3. Have a business plan to remove the uncertainties
  4. Have a strong, reliable and focused team
  5. Make your business presence online
  6. Use digital marketing for your startup
  7. Provide a good customer experience

The Startup Lab daily uploads business articles and news. Be sure to read them and gain knowledge.

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