Startup Dos and Don’ts

With funding services available such as Patreon and Kickstarter, local entrepreneurs aren’t just getting support from local patrons but also international supporters. Growing a company from scratch has never been this easy, but with the accessibility to seed financing to get off the ground better than ever, there still seems to be a huge number of new entrepreneurs making some common business mistakes.

When the market is as unforgiving as crucifying you for your typographical errors, you should be on the lookout for what you should do and what you shouldn’t do if you want to start a company in the right way.

Do: Start small and work your way up

One of the more common mistakes for start-ups is starting big. The main reason why start-ups fail is that they focus too much of their energy on early expansion instead of brand identity and growth. Having more employees doesn’t always mean a more successful company since a higher employee count also suggests higher overheads, for example, paying salaries.

A viable way to start small is by first establishing a market for yourself and then expanding from there. Your reach might be limited at first, but consistent growth is better than just a short-lived burst of income coming your way.

Do: Keep a visible social media presence

A start-up’s greatest weapon is its ability to exist without a physical office. Because of the rise of social media for business operations, start-ups usually have an easier time developing and structuring their business portfolio even before they have secured their headquarters or physical offices. Since your social media accounts will be your bread and butter, make sure that there are no idle moments in your account’s activity.

Don’t: Forget traditional promotional mediums

Though the surge in the use of smart devices and the growing accessibility of wireless internet has kept almost everyone hooked online, conventional forms of promotion such as calling cards, fliers, and billboard advertising placements are still very relevant. Not only are ads placed in commercial areas more consistently but they’re also great for social media promotion as highlights to show off your capacity and reach as a company.

You can secure a business agreement with printers in Stockport who not just provide printing services for formal letters and business forms but also for your promotional needs such as business cards and stickers. This will help keep your costs to a minimum even though you’re using traditional advertising mediums.

Though social media accounts are mostly used for spreading promos or acting as a public helpdesk for customers, popular franchises have taken it upon themselves to put a twist on the social media interactions of their accounts by adding their spice and personality to it. Wendy’s uncensored and ‘salty’ mascot has given them widespread viral status for taking shots at other franchises whenever a popular issue comes around. Finding the right balance of personality and functionality can keep your business in your clients’ online bookmarks.

Image: Pixabay.com