For entrepreneurs who have come up with a solid business idea, developed a plan, acquired funding, and have got their operation up and running, firstly, congratulations! Getting to this stage is no mean feat. Once your business goes live and to the masses, this is where the hard work truly begins.
Think about all the time, money, and effort you’ve already put into your operation. The last thing you want is for things to go pear-shaped when you’re just getting started. The good news is we’re by your side. To keep everything running as it should and grab the right audience to your products or services, here are some important things you must do straightaway.
Celebrate!
Before the hard work truly gets underway, take a moment to celebrate what you’ve achieved so far. After all, you’ve turned your idea into a reality, and that’s worth acknowledging! Share the news far and wide with your loved ones and anyone else who has been with you on the journey.
You’re going to come up against all kinds of challenges in the business world, especially at the beginning. Therefore, taking some time to celebrate will not only boost your morale but can help you create positive energy for the next chapter of your business.
Revert to Your Business Plan
Once your business is live and in full swing, it’s time to dig out your business plan again. Doing so can help you review and evaluate the progress you’ve made thus far and what you want to accomplish going forward. Take some time to objectively analyse your initial goals and objectives. Also, assess any challenges you’ve faced and any lessons you’ve learned along the way.
Now is the time to start setting OKRs (objectives and key results) too. OKRs can help achieve your mission and vision and bring the top priorities of your company to the surface. Check out 1ovmany who offers bespoke training for your business. Both you and your team can undertake OKR training and agile training that will teach you core skills that can help you stay organised and in control of your operation.
Build An Identity
For your business to get off to the best start possible, you need to create a solid business identity that stands out from competitors. You need to establish your brand’s mission, values, and USP. Develop a compelling brand story and make sure to communicate it across all touchpoints consistently. This could be via your website, blog, or social media channels.
Creating a strong brand identity helps differentiate yourself in the marketplace, as well as outline why consumers should go to you over rivals. It’s worth taking a look at competitors to gain inspiration. You can look at what tactics they use to do business. However, just make sure not to copy outright!
Engage With Your Target Demographic
We hope you’ve already worked out who your target audience are when you were devising your business plan as it’s time to grab their attention. After all, a business without customers isn’t a very successful one! You need to be actively engaging with your audience so they’re aware of your brand, what you do, and most importantly, use your services.
Firstly, get on social media. Whether you’re an avid scroller or you hate the idea of it, you need to create a strong social media presence for your business. Just because you may not be the biggest fan of Facebook doesn’t mean your customers share the same sentiment. To get people talking about you, make sure to set up business pages. Next, you need to up your email marketing game. When you collect customers’ email addresses, you can send out relevant newsletters and updates about your company. When you do both of these, you’ll be on the way to creating great relationships and building trust.
Monitor and Analyse Key Metrics
During the beginning stages of your business going live and beyond, you need to put your analytical hat on and keep it firmly fixed! Now is the time to implement a system to monitor and analyse key metrics relevant to your company. You can use tools like Google Analytics where you can track website traffic, user behaviour, and conversion rates.
Make sure you’re evaluating sales data too and keeping a close eye on customer satisfaction ratings and reviews. Such insights are what will help you pinpoint areas that are going well and others that need to be improved on.
Stay Up to Date
There’s always something new to learn in business. It doesn’t matter what success you’ve achieved so far, in order to keep relishing in the delights, you need to always be one step ahead. Staying up to date with industry trends, attending conferences, and joining professional networks is key.
Education brings knowledge, and as we all know – knowledge is power. Therefore, setting time aside to learn is essential. It’s not just you who can benefit from education either. Implementing training and development activities in the workplace can be a great way for employees to stay in the know too.
Network, Network, Network
If there’s one powerful tool entrepreneurs need to learn and make use of, it’s networking. When you converse with likeminded individuals, you can gain all kinds of insights, tips and tricks, and strategies that can be put into your own operation. If there is an industry event nearby, make sure to attend! This can be a fantastic opportunity to talk about your brand, exchange business cards, and drum up interest.
You may end up making connections that point you in all the right places. Collaborating with other businesses can be a great way to explore new opportunities and leverage each other’s strengths. When you start networking, who knows what doors it can open? Just make sure to be professional, attentive and ask questions to whomever you meet.
Look After You
We appreciate you’ll want to do everything in your power to make your business a success. However, it can come at a price. If you’re spending too much time working on your brand, you won’t have much room to do the things you love and enjoy. While we understand your business is your baby and pride of joy, there are bound to be other hobbies and activities you enjoy doing outside of the office. If you’re not giving yourself enough downtime, this is where problems can set in.
Make sure you’re looking after your health and wellbeing. This may include going for a jog once the day is over, having something nice for dinner, or catching up with your nearest and dearest. Just give yourself opportunities to clear your mind. When you do, we promise you’ll return back to your business endeavours full of drive, enthusiasm, and excitement. Lastly, don’t feel guilty about taking breaks! Should you burn out, you’ll find it incredibly difficult to get back on track.
Whether it’s your first business or you’ve got plenty of experience under your belt, you need to keep the momentum up and stay focused during the early stages of your startup. For customers, clients, and stakeholders to join forces with you, utilising any of our suggestions will help expand your business and ultimately, keep you on top.
