Leadership

Tips: Business Strategies Used by Successful Startups

May 12, 2014

When you are starting a new business, you might think that the only way you will be successful is with plenty of funding to back your early efforts. Even businesses that do have the appropriate funding find themselves failing in the first year. The money is not the key to your early success; it is the business strategies that you implement that will have a much further reaching positive effect. Here are a few business strategies successful startups use to grow the company right out of the gate.

Offering Free Services
One of the easiest ways to get attention to your new business is to offer service(s) for free. Rather than giveaway cheap services or products that are of no value to your customers, try giving them access to the best your company has to offer. Once you get people excited about your service, you can offer them the opportunity for more in-depth services at a fee. If you had simply given away free services that had no value, you would not get the customers to even want to consider paying for better service. Giving them a valuable free service tells them you offer them value and they can pay you to get even more of what they are already impressed with you about.

Never Compromising 
Many business startups have a difficult time getting through their first year because they simply try run their business like every other company. When things get tough they cut salaries, lay off employees, or limit the time with customers. The key to the success of many startups is being unwilling to compromise on what you believe is best for the employees and the customers. Leadership in your business will be the key to making certain the staff all feel like a valued part of the business, which in turn means they treat your customers with a higher level of respect. The customers can easily pick up on a sincere desire to please versus a desire to increase the bottom line.

Providing What the Customer Wants
The only way that startups are going to succeed and grow is by attracting new customers and keeping them as loyal long term customers. The best way to do this is to build a reputation early on as a company that takes input from their customer s as very important. If you were to change your mindset from providing a service by a deadline for the customer to providing that service until the customer is satisfied first, your bottom line will increase. The goal of your company should be providing the service the customer wants as soon as possible. Rather than promising to deliver a service in three weeks, show the customer you are working on it now and will continue until it is complete.

Travel the Road Less Traveled
If you have a vision for your business that you think will appeal to the masses, don't follow in the same steps that all the other successful companies in that niche have done. If you feel your company can reach more people with a fun and unique twist to the industry standard, then grab the bull by the horns and run with that idea. Be unique. Don't be another "me too" business. By pushing the boundaries you provide a fresh, fun, and unique way for people to look at the same industry. The best part about this approach is with all the world on social media at the moment, your uniqueness might be the breath of fresh air that skyrockets your business success overnight.

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