Did your startup hit the brakes after initially soaring? Don’t beat yourself up about it, it’s probably not your fault.
Getting stuck is an almost inevitable stage in every startup’s life cycle. Don’t worry: we have the perfect tips to help your business reach new heights.
It’s a well-known scenario: whenever something less than satisfying happens in a business’ life, people resort to mild panic and start to scramble for solutions.
More often than not, execs call upon the good old trial-and-error method and try anything that comes to mind. If this approach didn’t work, let’s try this one. Something’s bound to work, right?
Wrong. The more scattered your attempts to get unstuck, the less likely you’ll discover a long term solution to your business’ problems. It’s kind of like quicksand.
The more scattered your attempts to get unstuck, the less likely you’ll discover a long term solution to your business’ problems. It’s kind of like quicksand.
Instead, take a moment to think. How did you get stuck? What used to work? Why doesn’t it work any more? Where is your business now, and where do you want it to get within a given time period?
Depending on the nature of your business, you may discover very different problems. Maybe your startup can’t handle the increased number of orders and your supply chain is clogged. Maybe you need more employees. Or maybe you need to cut a department, outsource various tasks, and focus your energy on your core activities.
None of these are great things to have happen. But, pinpointing the problem means you can identify a solution.
Whatever your findings are, make sure you don’t just jump into possible solutions. Outline your actions. Create a step-by-step plan about your next tasks, and stick to it.
Once your “getting unstuck” plan is complete, don’t modify it. You may think that adding another small task here or there, or trying this one little thing won’t do any harm. Unfortunately, that’s not the case.
If you deviate from your plan, your startup loses focus, your plan falls apart, and you get back to square one: stuck. Don’t let that happen. Even if you saw a genius marketing video and you’re absolutely sure that your business should do it, stick a pin in it and put it away for later.
Since customer-centric businesses are most likely to do well, your clients’ needs should always be on your mind.
It may indeed be the best idea ever and well worth trying at some point, but it’s not right for your startup at this very stage.
Although most businesses are very different, there’s something they all need to focus on: their clients. Since customer-centric businesses are most likely to do well, your clients’ needs should always be on your mind.
Before deciding on any business task, consider how it will affect your customers. Even the smallest adjustment to your processes is worth considering if it will enhance your startup’s customer satisfaction rates.
Make sure that your team, processes, and technologies are working toward the same goal, growing your business and serving your customers.
Hire people who share your passion for excellence. It’s best to employ multi-taskers: people who are able to perform in various roles and grow with your company. Make sure everyone’s responsibilities are clear and that no task gets lost or duplicated.
Everything and everybody should work together seamlessly to avoid clogs that would choke your business’ pipelines and bring your operations to a standstill.E
After all, everyone in the small business world wears at least a few different hats.
Create smooth and easy-to-follow processes in all business areas. Everything and everybody should work together seamlessly to avoid clogs that would choke your business’ pipelines and bring your operations to a standstill.
Use technologies that eliminate unnecessary tasks and quicken your startup’s processes. Luckily, there are many platforms specifically developed for small businesses’ needs.
Veem is a global business-to-business payment platform allowing you to send and request international transfers with just a click. It’s a lot faster than your bank, and saves your business considerable funds by charging no wire fees and offers competitive foreign exchange rates.
Sign up for a free Veem account to revamp your business processes.