5 Hacks Every Startup Owner Should Know to Succeed
Any entrepreneur has to have their head in the game from the very beginning. They aim high, hoping to achieve fast growth, capture a sizable market share, and outmatch the competition. Unfortunately, sometimes this fire in their belly prevents them from thinking with their brain and often times causes them to spend a lot of cash on tactics that are barely profitable for a short time.
Small businesses aren’t easy to manage—especially when it comes to cashflow. After the initial success (if any), it can be incredibly difficult to juggle all the moving paces necessary to stay on track. If you have found yourself in a similar situation, or you’re afraid that you might end up in one, be sure to read through these hacks. We’re here to help you explore five ideas, advantages, and useful shortcuts that you can use to make your business skyrocket to success.
- Engage with your customers
Whether you have customers, clients, you need to have a communicate with them on a personal level. This one is especially true for eCommerce companies and any business that wants to establish an online presence.
People who visit your company’s website may feel a bit lost and require welcoming customer service—even in the form of a chat bot. You can simply send your users an auto-generated greeting with a pop-up message that lets them know assistance is available should they have any questions.
Also, be sure to send follow-up messages post-purchase and engage with users on social media to show you care about them as an individual, rather than just a sale. This helps to foster a loyal customer base with strong retention rates. When they feel like they can trust you, rely on you, and cared for by you, then you’ll earn their businesses by winning their heart.
- Work with the right people
The team you work with can make or break your business. When you hire someone, make sure to run an employment background check on each and every potential hire. This goes beyond basic qualifications such as education, experience, and skills. Qualities such as honesty and integrity are critical to success, so be sure to check in with their former employers to confirm their work ethic is strong, and glance at their criminal report to ensure they have no foul play in their past that could derail your business.
- Plan your way to success
Most small businesses fail the planning part. Marketing giants would agree when we say that every big company has an advertising strategy and growth plan in place. Every entrepreneur hopes to generate a large income through sales revenue, but few actually devise a detailed plan on how they expect to do so.
Create a business plan or hire a consultant who can hope you strategize every step you need to take, including potential obstacles you might encounter along the way.
- Learn the art of giving
Your customers are your most valuable asset. Show them some appreciation with free stuff such as samples, giveaways, discount codes, referral bonuses, or even just a simple gift card for a new client you signed.
Another great hack your small business can use to position yourself as the best provider in town is to give back to the community. This shows them that you’re personally invested in the town and its people—AKA, your potential customers. Some ideas might include sponsoring a youth sports team or contributing funds to construction projects. Your company logo emblazoned across town will build brand awareness and respect.
- Buy some hours
You, the owner, are the most prominent part of your business—so your time is incredibly valuable. We talked about hiring employees, but consider hiring a manager as you grow. You can also automate or outsource nearly every task you might try to take on along, such as content creation, email messaging, appointment scheduling… we already mentioned the AI chat bot you can use for customer service.
The point is that you should spend more time on running your company and helping it grow rather than these back-end, tedious administrative tasks.
Making each and every decision with is careful calculation is critical. Think, plan, then create the magic and the success you’ve always envisioned.