Startups face many challenges. Here are some tips to help you avoid the common pitfalls of starting a company.
Serve Your Customers
Customers are the lifeblood of any business. Serve your customers, and the rest will fall into line easily.
Time Is Your Enemy
Your cash is running out. Your competition is getting stronger. Your customers are growing impatient. There is only one way to handle these problems … get to market quickly.
Far too often we want to dominate the world. Better to focus on dominating main street first. Don’t worry – the world will be waiting for you to take it over.
Being a perfectionist is fine, unless it gets in the way of getting your product / service to market.
Sell What You Can
Is your product or service not ready for market. Sell something else! Nothing motivates a team (and investors) like a steady stream of revenues.
Use Flex Teams
Labor and rent are two of the largest expenses your startup will face. Conserve your cash by using flex teams. Properly managed, contractors can serve a specific need, then be transitioned out until their skills are needed again, saving you labor costs. This method reduces the amount of space you’ll need, and your rental costs.