Turning Your Start-up into a Booming Success

In recent years, the world has seen an uprising of ambitious entrepreneurs who decide to venture into the world of business. The shops and businesses these entrepreneurs establish are appropriately called “start-ups”, and there is a surprisingly good number of these start-ups which meet a measure of success just in their first years. In 2011, for example, 64% percent of start-ups met or exceeded their targets, with 72% projecting even better business conditions for 2012. And if these numbers are urging you to build your own start-up, a few tips are in order so that you don’t get swallowed up by the competition.

Full Infographic at http://www.svb.com/startup-outlook-2012-infographic/

Know the signs of a successful start-up.

If you’re going to be one, you first have to understand what being “successful” really means, and that means familiarizing yourself with all of the signs that ensure a successful business. To name a few, a good start-up must have honesty and transparency, efficient communication, good customer service, and appropriate back-up plans. These are of course just parts of the smaller picture which come together to form a structured and effective business.

 Another important point regarding this is not only understanding what makes your start-up good or bad, but more specifically what your customers think about what makes you good or bad. Getting consistent and accurate feedback is a must so that you can make necessary changes quickly and effectively.

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Get active in blogging and social media.

The internet is here and here to stay. And if you want to keep up with the stiff competition in the market, you are going to have to get with the times and be competitive with your social media marketing as well. Start a blog and set up your accounts, and get it done now. Navigating these sites are easy enough to learn and understand, but it’s all the different subtleties that would take a while to master.

The trick to getting start-ups up and running is to get recognized and extend your influence quickly. There is no faster and more convenient way to do this than using the power of the internet, but it is always important not to underestimate the repercussions of any actions done online. Nevertheless, there is no point being too intimidated that you don’t get anything done anyways.  

Use your connections wisely.

Ray Ozzie shares this piece of advice: Don’t underestimate the power of your connections. Very simple and yet profound at the same time. Pride might tempt you to try to handle everything yourself, but sometimes what you really need in order to get that break is to phone just the right person for the job. You don’t even need to directly have “friends in high places” either; it’s called a “network” for a reason after all.

That being said, having connections is not the same as knowing how to use them. The trick is knowing who to call, when to call, and to why to call (that is, call only for the right reasons). It’s a big waste having contacts that can help you but having no idea how to take things to your advantage. 

Start-up or small business.

This final piece of advice is to know exactly what the difference between a start-up and a small business is. It all boils down to your goals and where you want to be given a certain amount of time. If you know what makes one different from the other, then you wouldn’t have much problem positioning yourself and acting towards the fulfilment of your goals.

There’s no reason to wait, whether you are building one thing or the other. The most important thing is to act and to act quickly. As long as you have armed yourself with the necessary knowledge and preparation, you shouldn’t have to worry about whether you will succeed or not.