The simple fact is that growing a startup is not easy. Otherwise, everyone would be doing it. So to grow your startup, you’ll need a passion for the purpose of your business, a plan and the ability to execute.
Let’s go further into detail what it takes to grow your startup.
Create a Strategic Plan
Your business likely already has a product or service to sell. So next you need to know exactly how you’re going to achieve the success you’re after. That means identifying the competition and understanding what your business has to offer that’s unique. Then selling it in a way that’s natural for the type of business. Lastly, making sure you have the right resources in place to make it happen!
Determine your Ideal Customer Avatar and Find Them
Who is the intended audience for your product or service? Creating an ideal client is critical to identifying who you should be targeting your marketing to. Consider these things when creating an ideal customer avatar:
- Gender and age
- Lifestyle and interests
- Where they live and where they spend their time
- What problems they have (and how your business can help)
Once you’ve identified who your target audience is, find out where they are spending their time and market to them there.
Use your Network
You know people. They know other people. Use your network of people to get a good customer base. Tell them exactly what your business does and how it can help people. Start with friends and family, then move onto acquaintances and old colleagues.
Build an Email List
Part of the process in serving new clients can be capturing their email address. You can also capture email addresses for people visiting your website by offering something free of value in return. Examples include a checklist, e-book or free tutorial.
Then email those contacts regularly with free advice and information. Periodically email specials, discounts or coupons for your product or services to create more sales.
Prioritize Based on Vision
When you are trying to grow your startup, there are a million things that you can spend your time on. But the key to creating a profitable business is to focus on the things that matter the most. So with each opportunity, identify if it’s a fit for your vision, and if will help you increase sales or raise brand awareness. If not, then pass.
Let Your Customers do the Talking
Ask customers for testimonials and referrals. They are your best advocate when you are just starting out! Put testimonials on your website and social media pages. You can offer business cards out to existing clients to pass on to others that may need your services or products. Alternatively, you can create a referral program where your existing client gets something in return for the referral, like a discount on a future service or item.
As you can see, there are many ways to grow your startup. Use this guide to create a plan, then execute that plan for your business.