Advertising
Advertising

7 Success Hacks for Budding Entrepreneurs

7 Success Hacks for Budding Entrepreneurs

Being your own boss can be both fun and rewarding but don’t let anyone tell you it isn’t hard work. Several years back I started my very first business, and the memories are still as vivid today as when it happened.

Indeed, I can recall the feeling that I had after filing my articles of incorporation with the Secretary of State. It was like, ‘So now that it’s official, what do I do now?’ Fortunately, I was very lucky to have made mistakes early enough to catch them and make my corrections. But it wasn’t easy. However, the good news is that today I’m going to let you know everything I wish I’d known then about what to do after starting a business. Let’s get started!

After you officially launch your business, it won’t be long before you find yourself wondering what to do next. If your launch is anything like mine, the weird thing about trying to map out a game plan isn’t necessarily that you don’t have anything to do. You might even find that there’s so much that just trying to decide what to do first triggers analysis paralysis.

If I could do it all over again here’s how I’d tackle my new business checklist.

Advertising

1. Ready Yourself for Growth and Success

While on the face of it managing growth might either

a) seem like a great problem to have or

b) like the type of problem that you only worry about when you’re actually facing it.

Nothing could be further from the truth! In fact, the irony of it is that quick, unexpected sales growth could be just as detrimental to your business as no revenues at all! If it all sounds a bit far-fetched, consider this news from one of the most widely recognized business publications in the world – the Harvard Business Review – which cited the inability to handle growth as one of the biggest problems faced by new businesses. To support this observation, they referenced several examples of startups who hurt themselves by not responding adequately to the unexpected growth.

Advertising

Here’s what you need to know about growth hacking for the unexpected.

If you haven’t already done so, you’ll want to be 100% certain that your method of production can be scaled; this applies both to companies who supply products or services. One way you can tell if you’re sufficiently capable of handling rapid growth is to ask yourself if your current production process could withstand 100 more orders – should they come in right now. If the answer is no, then you know that you need to scale your production procedure.

2. Have a Sales Team in Place

If you run a sales driven company, it’s critical that you find ways to generate sales – day in and day out. Without a doubt having a knowledgeable sales force in place to close deals is one of the best ways to achieve regular sales.

3. Become an Expert in Your Market

If you have a sound understanding of the fundamentals that drive sales for your industry, you’ll be in a position to stay a step ahead of the competition. One way to do this is to stay plugged into what’s going on in the industry. Of course, if you have an internet connection, it is remarkably easy to follow the trends that matter.

Advertising

While not everyone wants to prepare themselves to be ready for the worst, so many new companies go out of business because they weren’t ready to experience success.

4. Don’t Over-Rely on Your Company Launch for Sales

It’s so easy to adopt the mindset that your launch buzz will follow you into the post-launch phase. However, remember that this does not have to be the case and it usually isn’t. In fact, after that first round of PR wears off, you should prepare yourself to fight for every second or word of publicity that you receive.

Sadly, that initial buzz will wear off quicker than you think, so be ready. Another thing is that the sooner you internalize your new business’s Unique Selling Proposition (USP), the faster you can position yourself for long-term growth. Here are some things you can do to keep the sales rolling in longer after your initial launch.

Hire a professional sales person. Thanks to sites like Upwork and Freelancer, finding top sales talent is closer within reach than you probably thought. Nonetheless, it’s critical that you remember ever to be on the lookout for good talent in this area, as you never know when you may need to hire another sales person. Upon finding your sales pro, be prepared to train and equip them with a realistic quota.

Advertising

5. Maintain a Positive Outlook

Once you fully transition from being a startup to being a full-fledged business with a track record under your belt, it’s important that you maintain your enthusiasm. Why? There will be days where things simply don’t go your way and when they come it’s essential that you meet them head on.

6. Consistently Seek New Networking Opportunities

While you may have a core of customers that keeps the gears churning for your business, you never want to rely on them as you never know when they might disappear. The key to not being too dependent on long-standing customers is to acquire new customers on a regular basis.

So let this be a reminder always to be selling. But it won’t happen unless you make sales the focus of your business. And remember, it doesn’t matter how much success you’ve already achieved, so long as you intend to stay in business, you should always be bringing new customers onboard.

7. Additional Considerations for Your Startup

  • Connect with Like-minded People Online: Building a business can get lonely sometimes. Things can get so quiet that if you’re not careful, you could find yourself drifting into depression. One way to offset this is to find a community of others in your field that you can reach out to when you want to talk. An added benefit of employing this strategy is that it can sometimes help you find new customers as every now and then you may stumble across someone who refers you business because they’re too busy to take on new work.
  • Banking: Banking is something that you want to establish even before you start your business. If you haven’t already had an opportunity to build a banking relationship, now is the time to do so.
  • Decide Whether an Office is Necessary: Unlike years past where not having an office meant that you might not be taken seriously, in the present day and age, many businesses opt for a virtual presence. So depending on your market, a physical presence may not be necessary. However, if you work in an industry where your audience expects you to have a storefront or physical location, just know that there are options. For example, if you’re on a shoe-string budget, you can rent a shared space or something similar.
  • Establish a Web Presence. If you’re still using a free email provider for your email address, please stop as this is one of the best ways to brand yourself as a newcomer. Instead, get a branded email. They are now easier than ever to get and are often very affordable. The same can be said of your website. If you don’t already have a site, go ahead and build or order one now. In fact, even if you’re low on funds and don’t possess web design experience, starting a website has never been easier as most website builder platforms allow you to drag and drop.

There you have it. While this list certainly wasn’t meant to be comprehensive, it at least covers the key areas. Armed with this list of ‘to dos’ you should now have a clear idea of what to do next.

Featured photo credit: readbrightly.com via readbrightly.com

More by this author

Why should Small Business Owners shift to Cloud-Based Accounting Software? New Girl Has Broken Sitcom Stereotypes How American TV Show New Girl Has Broken Sitcom Stereotypes Startup's first office space 6 critical considerations for your startup’s first office space Are you a Boss or a Leader? Are You A Boss Or A Leader? And One Is Definitely Better Than The Other Five Ways to Sprint to the Top in Business Before 2018

Trending in Productivity

1 9 Things Successful People Do To Always Get What They Want 2 Top 10 Reasons Why People Don’t Reach Their Goals 3 10 Best Task List Apps to Boost Productivity in 2020 4 10 Practical Ways to Improve Time Management Skills 5 Why Self Development Should Be On Your Life Goals List

Read Next

Advertising
Advertising
Advertising

Last Updated on May 28, 2020

9 Things Successful People Do To Always Get What They Want

9 Things Successful People Do To Always Get What They Want

One of the best decisions I’ve ever made was to take on the job of hosting my own weekly radio show. My radio show is about finding some of the most successful people in the world and bringing them on my show to ask them about what they did to become so successful in life and business.

In this article, I’m going to share with you some of the key takeaways I’ve picked up from talking to – and reading about – thought leaders from various fields about the things successful people do. Here, you can get some insights on how to get what you want.

Ready to dive in? Let’s go.

1. They Know What They Want

The first and most important thing that successful people do to always get what they want is so simple that most people forget about it: they figure out what they actually want.

When you know what you want, you will also know how to get what you want. If you’re unsure about what you want in life and business, I’d suggest picking up some career and self-improvement books to help you gain some clarity and focus.

2. They Are Assertive

Successful people know that they need to be both bold and sincere. Balancing these two characteristics is the essence of assertiveness.

Advertising

Oh, and by the way – being assertive is not a natural talent someone is born with. Assertiveness is a learned skill and anyone can do it, including you!

3. They Learn

You may have heard of the old saying, “great leaders are readers”. For the most part, I’d say this is true.

Let me give you an example. On my radio show, I regularly ask successful people about their habits that lead to success. Do you want to know something really neat? Every single one of them reads books.

Successful people read and learn as much as they can about what they want so that they can get what they want. If you’re curious about how to get what you want, then start reading a book. If you’re low on time, subscribe to a book summary site to get the core concepts of the books in your industry quickly.

4. They Make Things Meaningful

One of the most powerful things successful people do to always get what they want is that they make things meaningful. That is, they ensure that whatever endeavor they decide to embark upon is meaningful to them (and not necessarily to anyone else). They know and understand that it’s only worth it if it matters.

5. They Ask

One big thing that successful people always do to get what they want is this: they ask.

Advertising

Most people are too shy to ask for what they really want. If you are too shy to ask, you may never know how to get what you want. So, don’t be like most people.

Here’s an exercise you can do to get over it: next time you’re buying something, regardless of what it is, ask for a discount. Just do it. The worst-case scenario is that you’ll get a chuckle from the Barrista at Starbucks. The best-case scenario is that you’ll get comfortable with negotiating when it’s time to buy your next car.

6. They Take Action

Insight without action is useless. Successful people know that to always get what they want, they’ve got to take massive action.

One of the most powerful exercises I’ve ever discovered is this: never leave the sight of a goal without taking some kind of action towards its achievement. In other words, as soon as you decide you want something or as soon as you set a goal of some kind, do something – anything – that shifts you closer towards getting it.

7. They Use Their Time Wisely

Have you ever heard of NET time? It stands for “No Extra Time”.

For example: when you’re driving and sitting in traffic, are you listening to Mylie Cyrus? Or are you listening to an audiobook?

Advertising

Successful people take NET time seriously. Get yourself some audiobook so you can start listening to the best business and self-improvement books available – all while you’re on your way to work in the morning.

8. They Choose to Lead

You don’t need to have formal authority to become a leader. You just need to choose yourself. All successful people know this, and so should you. Knowing how to get what you want requires knowing how to lead the way for others and yourself.

Don’t wait for anyone else to do it, because the truth is that most people want to be led anyway. So, just step up and claim authority. Be the leader you wish you always had.

9. They Contribute

Successful people know that to get what they want, they have to be willing to help other people get what they want.

What happens when you stop doing your job? What happens when you stop caring about your schoolwork? What happens when you become emotionally disconnected from a relationship?

You suffer – that’s what happens. Successful people know and understand that in order to succeed, they need to contribute. They need to add value to the lives of others. They need to do their best so that they can become the best.

Advertising

So, Now What?

I hope this article has re-ignited the fire that you already had within you to be successful at any endeavor. The reason why I’m stressing the fact that you’ve already got everything you need to succeed and get what you want is that you wouldn’t be reading this if you weren’t already motivated to be successful.

At the end of the day, however, all the insights in the world are worth nothing unless you combine them with action. When it’s all said and done, it’s your decision what you do with this list and how you apply it to your life and career.

But if I may, here’s what I would suggest you consider as you get started doing the things to help you succeed:

Review this list of the 9 things successful people do to always get what they want and then compare it with where you currently are at each one of these 9 things. Rate yourself in each one of the 9 things. Next, pick just ONE of them to work on every week.

For example, if you find that you’d like to learn more about the business side of the company you work for, then go read the best business books to help you do that.

Never stop learning. Always feed your mind with the knowledge you need to become as successful as possible within your area or industry. It doesn’t matter how busy you are. We’re all busy. Make the time to expand your knowledge.

And remember: every key learning should be immediately followed with action.

More Tips About Leading a Successful Life

Featured photo credit: Austin Distel via unsplash.com

Read Next