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7 tips for growing your startup into a thriving company

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In the fast-paced, high-tech world that we live in, startup companies are on the rise. Many individuals want to become an entrepreneur and the time for creating and managing a startup business has never been better. This is not only due to technology but also due to the imaginative and creative minds of some of the best well-rounded people out there.

Before you can have a well-established and successful business, you have to start from the ground up.

 

Keep reading for the top seven tips for growing your startup into a thriving company.

1. Be competitive 

If you have a niche market and think that you have the market cornered, do not be too confident in your assertions. A common mistake that new startups make is underestimating their competitors. Even though you may have no competition at the time, there may be other individuals who like your idea. If these individuals have more funding, in the form of business loans, they may take your concept and your market share as well.

2. Walk before you run 

When trying to build your startup into a successful business, ensure you walk before you run. You need to start with the basics, and once you master those, you can add more detail to your company. Focus on keeping customers, turning a profit, and having a dominant team. Once you are doing well, then focus on your logo and other aspects that will grow as your business does.

3. Ooze virtuousness

Virtue is a standard of being morally good. In a world where there are so many people who have no morals, make sure you treat your employees and your clients with respect. Have integrity. Treat people like you want to be treated. You will go further in business and life by being a nice person than you ever will by being a fraud. This is an important tip to remember when your startup takes off and becomes the thriving business you want it to be.

4. Listen to your customers

Another smart approach to growing your startup into a growing company is to know what your customers want. Make sure you listen to what they are saying. If you make assumptions as to what you think they want, you produce goods or services that do not get purchased. You need to create demand by providing an item that customers ask for but could never find.

5. Use technology to your advantage 

When growing your startup in Australia, you need the tools of the trade, which include the internet and other forms of technology. Choose your accounting software so your invoices, reminders and payments are automated. Use technology to market to specific clients through social media and apps. There are multiple ways to make technology work for you in your startup, use that to your advantage!

6. Market from numerous avenues

Marketing is essential to a new startup. It is even more critical to market in a variety of ways. Use radio and television, but also use social media, websites, Facebook ads and other means to get your name recognised. Once your marketing message has been seen and heard, you are on your way to building your brand recognition and authority.

7. Be patient

The last essential tip for growing your startup into a thriving business is to be patient with the process. It takes time to get a successful business on its feet. It will not happen overnight, but it will happen with a lot of hard work and dedication.

Why it is Essential to Have Technology Within your Startup 

If you have ever owned a company, you know how demanding it can be to stay current on advertising, technology, marketing, and finances as well as keeping a competitive edge. Startups are bound to experience more challenges since they need to establish everything from the ground up. It is essential to listen to your customers while also remaining competitive.

Make sure you use technology to your advantage, particularly for marketing purposes. Social media is a great place to start, as it will be seen by many. If you use the technology we have today to further your startup, you will have a thriving business in no time!

About Business Woman Media

Our women don’t want to settle for anything but the best. They understand that success is a journey involving personal growth, savvy optimism and the tenacity to be the best.We believe in pragmatism, having fun, hard-work and sharing inspiration. LinkedIn

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3 Comments

  1. beth@recruitee.com'

    Beth

    November 2, 2017 at 6:14 am

    I agree that picking the right tech is crucial! You have to make sure the whole team can use it, as well, or what’s the point of buying collaborative software? 😛 In addition to your tips on growing a thriving startup, I’d recommend starting with hiring the right people.

    Thanks for sharing!

  2. ravivadher1998@gmail.com'

    Ravi Vadher

    June 4, 2018 at 4:49 pm

    Great tips you’ve got here!

    I so totally agree with all the seven you have listed down. Incorporating and practicing them on a regular basis can really do your company a lot of good, especially if as a woman, you want to make a marked difference in a world usually dominated by men and oozes a lot of machismo most of the time.

    I would also like to add that establishing several processes that startups use if you really want to reach your business goals systematically and efficiently.

  3. usedoilrefineryplant@gmail.com'

    Amit

    July 6, 2018 at 7:15 pm

    In my opinion, people are forgetting offline marketing methods which are also important for local marketing and to work with local clients. Proper emphasis must be given to both offline and online marketing techniques.

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