10 Steps for successful Startups in UK 2018
Setting up a successful startup in UK may seem to be quick and easy, but it involves a lot of practicalities. From evaluating your business idea to chalking out key marketing techniques – everything needs to be flawless to get going. Running your own startup is no easy endeavor, and it’s crucial that you’re prepared for the turbulent yet exciting times that come with it. Here’re 10 steps that would help your startup get underway as successfully and smoothly as possible.
#1. A perfect strategy
While it’s important to chalk out a good idea for your new endeavor, a thorough and robust strategy is what will make the business a success. Your business strategy has to be consistent, clear and includes each and every detail – doesn’t matter if it looks very small. Once you’ve outlined the strategy, allow someone, who isn’t familiar with the goals of your business, to go through it. If required, modify the strategy to give your startup a robust foundation based on the inputs you receive.
#2. Know your place
Successful positioning of your startup involves lots of variables, what stage it is at now is the key one of them. Take a close look at how the target market perceives you as well as your products or services. Once you get a clear idea about the position of your startup, work on creating a development plan. Start by asking yourself questions like what are the goals for the next two years? Or four years from now? Set your pace and strategies accordingly to scale your startup and position it for success.
#3. Learn from others’ experiences
With thousands of entrepreneurs setting up startups every year in the UK, it can be said that many have been in your shoes during their initial stages. Take advantage of the numerous advice and experiences these people have shared at networking events, conferences and online, especially in your particular niche, to avoid similar obstacles and mistakes.
#4. Develop your network
Networking is crucial for any startup and is one of the key reasons to attend events and conferences. These are the places where you can have the opportunity to meet as well as connect with major influencers in your field. Being able to successfully connect with only one of them can lead to huge exposure for your brand, thus positioning it one step further toward success.
#5. Know your market
It can often be difficult to let go of the business idea you’ve been dreaming of from ages, but without the proper understanding of your market, it would be highly susceptible to fail though. Since the customer is always (or nearly!) right, it’s never advisable to set your new endeavor up for failure by ignoring their valuable feedback. Also, try to conduct market research and ask questions to everyone related to your field, including competitors, suppliers, and distributors to learn the market inside and out.
#6. Follow the latest marketing trends
Effective marketing strategy is an inherent part of success for any business, startups included. Conduct thorough research on the latest marketing trends of your industry. Amongst marketing technology trends for new businesses that emerged in 2017, many are likely to continue to be effective this year. Pick the ones that will help your endeavor succeed. Since the business realm is always evolving, failing to stay updated on the changes is likely to have a negative influence on your startup. It’s also wise to keep an eye on the effectiveness of old marketing strategies as well.
#7. Be present on social media platforms
Today, social media has become a fundamental business tool that helps entrepreneurs target, reach and maintain their customer base. The unique ability to deliver targeted messages based on customer demographics and profiles has made such platforms extremely advantageous. They give you the opportunity to demonstrate your expertise by letting you engage with the consumers and answer their queries at the same time.
#8. Focus on having dedicated customer support
Great customer service is the lifeline of any business. This personalized service can greatly help position your new business for success in various ways. For instance, poor communication happens because of two key reasons – requests getting lost and messages being missed. Having a dedicated customer service desk as a single point of contact would simply eliminate this issue.
#9. Stay positive
As with any startup, your team needs robust motivation to perform at their optimal level continually. Something as little as giving them a sincere praise and compliment goes a long way. Also, if you have a sour attitude or look depressed about things related to your startup, it’s going to spread fast and will negatively affect the entire team by bringing down their morale and enthusiasm. So, keep up your positive attitude regardless of how difficult the situation might be.
#10. Drive your own success
Regardless of the quality of your product or service, your startup won’t take off until you’re getting it in the front of potential customers. So, apart from mastering your online presence, don’t forget to communicate with as many people as possible to get your brand and business out there.
Scaling your startup for success doesn’t need grandiose schemes. The key is to keep in mind that success doesn’t happen overnight. It takes diligence, requires consistency and takes time. So, merge them with the above tips and start your journey to become a thriving organization.