The statistics show that 9 out of 10 startups fail because the entrepreneurs are still in the startup mode of operating after some time. They got stuck there, somehow they feel secure in their comfort zone and do not expand fast from startup to grown-up company. That’s a dead end folks.
Don’t keep on telling people it’s just a “startup” or we are still on the beginning! You need to start thinking big if you want to succeed.
Here are five business tips to get in the right mindset and expand fast from startup to grown-up company:
1. Hire great so you can delegate. To grow the business, you need to invest and hire new great people that will do the tasks that you cannot do anymore (lack of time). If you don’t hire new personnel, the work will stack up and that is leading you nowhere.
2. Choose your battles. Getting wrapped up about the logo color, which is not so important in the beginning, will cost you some customers lost, and focus on them not on swatting mosquitoes.
3. Make your haters love you. Becoming known in the field, is the hardest thing for the startups. The most important task is to get the attention, which opens the gate with the treasures. The best way to do it is to get attention and get haters, then turn the haters into admirers.
4. 10x your pitch. Don’t refer to your company as small. Instead, you can say I own a web design company which guarantees to drive your company’s sales up. There is big difference here, and you will gain trust in the customer.
5. Create urgency for your business. Waiting on something to the very end, like a project to be finished, or order delivered, will not help you build a strong and reliable business. Finishing ahead of schedules will bring you even more customers, as they that you are capable. Staying in startup mode will hurt you, accelerate the transition and move to the grown up business.
The process to expand fast from startup to grown-up company is not as easy as these business tips describe it! It will demand a lot of commitment and playing on master level without any major mistakes. Plan your steps wisely and expand, one step at a time!