Essential Steps To Run And Scale A Successful Startup

Essential Steps To Run And Scale A Successful Startup

Getting your business off the ground may have been challenging, but scaling it up will bring a whole new set of issues to contend with. Now, assuming that you’ve successfully started a startup. Scalability is the ability of a startup to grow. Or, to put it more precisely, a scalable business can adapt to a larger workload without compromising performance or losing revenue.

Below are some essential steps to help you get started. 

Step #1: Plan For The Future, Not Immediacy

Step #1: Plan For The Future, Not Immediacy

The reality is that scaling up your business will require a different skill set to the one you employed when getting it off the ground in the first place. You’ll have to manage both growth and risk. In practice, that means planning ahead. That way the business has sufficient resources in place to service the needs of its clients and customers, while also ensuring that those resources are managed in the right way for your company.

Make plans based on where you want to see your business instead of where it is at present. Start by definitively setting up an objective, such as a benchmark for your company’s expected turnover per year or its growth. If you want to grow your business as big companies do, you need to think like their leaders.

Step #2: Understand Your Data

Step #2: Understand Your Data for a successful startup

Data is the fundamental core of a startup. Begin archetyping ideal consumer personas. Then build a flexible marketing strategy around what’s trending in your industry, your competitors, and potential consumers. 

Be wary; the caveat to these tools is that they only offer an estimate. They rely on a myriad of factors. They may not be relevant to your niche or the way your business operates. To mitigate this, use internal data from Google Analytics, your CRM, marketing campaigns. Also, other business intelligence (BI) and contract research organization (CRO) tools to understand what specifically works for your business. 

Learn how to utilize external data but trust your own data. All that while investing your money and time efforts into initiatives that both drive brand awareness and generate high-quality leads that convert to sales.

Step #3: Do Not Compromise On Quality Or Consistency

Step #3: Do Not Compromise On Quality Or Consistency for a successful startup

Both of these enable and ensure growth. Prioritize aspects that require an immediate response, like customer support, and most importantly focus on your product’s service and quality. 

Keeping the right people, culture and processes are essential to maintaining quality throughout the lifecycle of your product or service.

Keeping the right people, culture and processes are essential to maintaining quality throughout the lifecycle of your product or service. The moment you decide to cut down hiring costs is the moment you go one step farther from achieving your goal. Having said that, I do realize that startups need to run on a budget. And, it is not advisable to pour out all the money you have on hiring.

What you should do is make use of online tools and get in touch with your contacts. Make smart hiring decisions that save money as well as give you the right candidates for the job.

Also, it is impossible to not make mistakes, but try to look at them as a learning opportunity.

Step #4: Develop A Good Reputation

Step #4: Develop A Good Reputation for a successful startup

Essentially, reputation management is the practice of monitoring and controlling the public reputation of a person or organization. It seeks to influence public perception of an individual’s or organization’s brand by shaping the online information about them. 

It used to be public relations jargon, but the explosion of the Internet and social media has contributed to its growth in the industry. With online reputation management (ORM), a person or brand manages their search results in different digital platforms such as social media, online forums, and search results. 

On the other hand, offline reputation management controls the public image of the said entity outside of the digital environment. This can be in the form of print media, press releases, corporate social responsibility, and others.

Step #5: Outsource Non-Essentials

Step #5: Outsource Non-Essentials for a successful startup

There are some roles within startups that don’t necessarily require a full-time hire in order to be handled professionally and properly. That isn’t to say that these responsibilities aren’t important. 

One of the great things about operating a business in modern times is that you have a massive amount of technology and software at your disposal to help you manage just about any work process for which you may need help.

Due to a lack of money, it’s impossible for startups to hire all necessary in-house staff at once. So, an outsourcing team is the best variant. 

Being able to effectively outsource certain roles and administrative processes can create great advantages for startups and small businesses that know how to do so properly. 

Outsourcing key business processes will enable your startup to save money while also freeing up vital members of your team to focus strictly on the business processes they specialize in and are best suited to perform.

Step #6: Make Marketing Better

Step #6: Make Marketing Better

To tell people about your project, you need to pay attention to the marketing strategy. There are some types that would be good while scaling up.

  • Content marketing. A lot of companies choose this method because it’s very scalable and has great potential.
  • Social media marketing. If you don’t have a lot of money to invest in marketing, social media is a good way to let people know about your startup and build your reputation.
  • Influencer marketing. It means cooperation with an influencer, a person who is popular in any social media. So, the influencer tells their followers about your products and their benefits.

Read More: Essential Marketing Channels For Small Businesses

Step #7: Make Your Business Workable Without You

Step #7: Make Your Business Workable Without You

Your process needs to be simplified and streamlined to the point that even if you disappeared off the face of the earth, someone could easily come in and know what to do. 

Your process must be easily understood and repeatable. Don’t let anything about your business be so fragile that less talented or unmotivated employees can bring it down.

Most people have the potential to perform at a higher level but aren’t trusted to make their own decisions. To boot, owners who don’t clearly define the roles of each employee, such as responsibilities and levels of authority, create an unsure atmosphere, leaving employees wondering when to act or make decisions without approval.

Over To You

Scalability is a mindset that’s all about having the systems and people in place to make your growth as seamless as possible. 

The startup universe is exciting and has so many unexplored possibilities, ready for the taking. Follow these tips and apply your vision, passion, and determination to bring your successful startup dream to fruition – and scale!

Author:

Biljana Martinić

Captain of Red Hair Pirates. Song Sommelier. Dragonologist. Talks to animals and they often talk back. Shyness that is criminally vulgar. Bounty hunter. And a nostalgia consultant.

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