https://www.rikon.ie

7 Tactics You Should Implement to Grow Your Start-up

7 Tactics You Should Implement to Grow Your Start-up

Scaling your business can be not just difficult, but incredibly overwhelming and scary. It is easy to focus on the wrong thing when starting to grow your business, due to the complexity of all the factors involved. 

So what tactic should first-time founders or entrepreneurs adopt tomorrow to start driving the business growth? 

Let’s take a look at the several answers to this all-important question: 

  1. Surround yourself with the people that enhance you

Being accompanied by the people that you can rely on and trust, as well as grow a business together is crucial. Unfortunately, these kind of people and partners are very difficult to find, which makes them all the more valuable. Try to build a network before starting a business in order to make this task easier. 

  1. Measure what matters

Objectively analysing your business can be very difficult, time-consuming and daunting task. Very often businesses end up getting sucked into producing vanity metrics, which has nothing in common with the actual state of things. When analysing data, ask yourself a question: what purpose is it aiming to achieve? 

  1. Act local, think global

Going international might not apply to some businesses, but most companies need to be aiming for entering new markets if they aspire to grow in the future. This should be the objective from day one, as your business model should be flexible and well-planned for you to take the next steps on the international stage. 

  1. Focus

Many business-owners fall prey to a dreaded “firefighting” on a day-to-day basis. It is understandable that during the first several months you have to exercise a hands-on approach, but it is essential that you don’t get overwhelmed by all the secondary tasks and focus on the main aspects of your business. Develop USPs, value propositions, branding, marketing channels, etc. Be able to delegate in order to dedicate your energy to truly important things and grow and develop your business. 

  1. Just do it

Famous Nike slogan, but still relevant today, especially in the business world. Many of us get very attached to the idea of planning, analysing, presenting and designing business plans and ideas, but often it stops just at that, without ever getting to the implementation stage. We just continue to re-design, refine and adjust our plans forever. Planning is crucial, but at the end of the day, set up a clear timeframe for planning and implementation and follow through on that. Just do it. 

  1. Sustainability of your business model

One of the most important things you can do for your business is to integrate a sustainable economic model into its product, since day one. Many start-ups have a great idea and a great service, but fail to monetize it. Without a sustainable financial model, it is not a business, but a very time-consuming hobby. 

  1. Listen to your customers

This one should go without saying, but it is shocking how many businesses ignore or fail to understand what their customers want. In the time when communication channels are so easily accessible and plenty, there is no excuse for not communicating and engaging with your customers. Always stay in touch with their needs and wants.