Being a startup is sort of like being wrapped in bubble wrap. You’re warm, you’re sort of safe, but you know that if something big enough comes along it’s going to make your bubbles pop, and you lose that safety net that you once had. We hope you like that analogy we used, because we think it explains perfectly what could happen to your startup business. But we know if you’re reading this you probably have got passed the worry stage, and your business is growing faster than you thought, then you’re going to be ready to leave that bubblewrap of your own accord. But what happens when you can no longer class yourself as a startup, and you’re considered to be an established business. You might not realise it, but there’s a lot of expectations to live up to that you didn’t realise. Your business is expected to be able to handle more, to grow quicker, and to make its mark in the business world well and truly. When you’ve only been a small business up until now, this can be pretty hard to do. So, we want to give you a rough guide as to how you can leave your startup territory safety, and how it can benefit you.
The First Steps To Take
So, you’re going to want to know what steps to take first to ensure that you’re ready to play with the big fish, because at the minute you will admit that you’re still a little one. So, the first step we think that will benefit you is talking to a financial advisor to see what they think about your situation. You need to have the finances to back your move, because as you make moves towards being a bigger company your finances are going to take a dip believe it or not. You’ll find that your outgoings will grow as you have to spend far more on expenses such as marketing, product development, and even employee wages. So make sure you have a good accountant and financial advisor on your side so that you’re making the best decisions in that respect. You also need to take some time to do some market research to find out what the gap in the market that you’re trying to fill is missing. Market research is by far one of the most effective things that you can do. Then, you can use the information that you’re gaining, use it to your ability, and make sure that you don’t more from being a successful startup to a business that can barely stay afloat.
The Management Issues That Will Grow
Management of your business was probably already hard enough, but it doesn’t get made any easier by some of the tasks that will come to you as your business is growing. One of them being with your employees and how you manage them. As your company grows and so does your members of staff, you have to think about how you’re going to ensure they’re safe, happy, and that you don’t have the weight of managing them on your shoulders. Our top advice here would be to use software to your advantage. If there’s one thing that becomes super hard to manage as they grow, it’s their productivity. Not only is your time stretched in other areas, it’s not good practice to follow them around asking them what they’re doing all of the time, and looming over their shoulder. One thing you can do is use Getsling to schedule faster, communicate better, get things done. When you have a piece of software that can do pretty much everything in one to help you with the management of your employees, life really does become easier for you! You could also think about hiring a management team to help support your employees, rather than to really manage them. We feel that a more open and productive working environment where your employees are supported is going to benefit both you, and them greatly!
The Hurdles To Overcome
The biggest hurdle for you to overcome is one that can stop you all together, and that’s not knowing what decisions to make. So many companies just halt in growth because they take no risks, and don’t really explore what their business could do. We feel that if you become a little more bold in the decisions you make, you’re going to have more success with your company. Getting a reputation is also a hurdle to overcome, but that will come naturally with excellent customer service.