How to Grow Your Startup Business in 2018

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StrategyDriven Entrepreneurship ArticleNothing can be more exciting for an entrepreneur than watching their business attract many customers, increase its profit margin, and develop a positive reputation. However, business growth can prove a challenge if you do not have the knowledge, tools, and experience to scale your startup.

While enjoying fast and substantial growth can be overwhelming, there are some tactics you can undertake to help you turn your small company into a big brand. Learn how to grow your startup business in 2018.

Maintain Your Core Vision

It can be easy to lose your company’s message when scaling your business. However, you must stay true to your core vision when promoting your brand to a larger audience. Ensure your employees have a thorough understanding of what your brand stands for and its goals, which will help them to retain the same company image in every sales and marketing strategy they undertake.

Be Selective with New Opportunities

There will be many opportunities coming your company’s way as it starts to grow, and you must choose from them wisely to avoid making a big mistake. Your sole goal must be to attract and satisfy your customers. Focusing on too many opportunities and projects could result in your business neglecting its customers, which could reduce consumer satisfaction and your profit margin. Never embark on an opportunity that fails to align with your current and potential customers’ needs.

Scale Your Business with the Right Technologies

Technology can help to quickly and easily scale your startup business. Don’t hold your business back by sticking with entry-level systems. Instead, you must invest in the right technologies to streamline your operations. For example, a reputable Netsuite Partner Provider can offer an Oracle NetSuite solution that can help your business say goodbye to manual processes, limited software, and expensive IT costs.

Hire Candidates That Complement Your Vision

Your employees will help to shape your company culture. While hiring employees based on their knowledge and experience is essential, you must also ensure they have the right personality for your business.

Look for candidates who are not only friendly and intelligent but who are passionate about both your brand and industry. As a result, you can develop one unified team who will work hard to meet your vision and goals.

Review Your Company Priorities

As stated, enjoying rapid startup growth can be a little overwhelming. During this time, you must take a step back to assess your company’s priorities. Review whether your performance aligns with your company’s ultimate purpose.

For example, your current company goal might be to retain your customers, but you may be focusing too much of your time on attracting new ones. If your performance and processes don’t match your core mission, you might need to make some big adjustments to your business.

Don’t Focus on Too Many Acquisition Channels

It is common for many startup owners to try to do a bit of everything to attract customers, rather than focusing on one main channel. However, doing so will result in multiple marketing experiments and can detract from a primary sales channel. It’s better to master one channel at a time, such as SEO, before moving onto the likes of social media, email marketing, app stores, and affiliate marketing.

How to Maximize Your Small Business Success

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StrategyDriven Entrepreneurship ArticleStarting or maintaining a small business is challenging and risky: your limited resources mean that your company is more susceptible than most to the tosses and turns of torpid financial tides. However, with the right planning towards optimal efficiency, you’ll be able to turn your small business into a profitable and risk-free enterprise that’s based on savvy decision-making and mature financial planning. This article depicts such a strategy for small businesses hoping to absolutely maximize their potential is often busy and turbulent marketplaces.

Cash flow

One of the major obstacles to business efficiency is a blockage in your cash flow. In plenty of scenarios, this means you’re unable to reinvest the money you’ve made through sales of products or services, which means your business plateaus on a certain level of business that prevents its exponential growth. To help avoid cash flow blockages, consider using Peerform peer to peer loans for speedy and well-established loan arrangements, up the $25,000 mark, which are provided with a competitive interest rate and with the benefit of your being able to adjust the loan amount and repayment schedule on a sliding scale, as it suits you and your business.

Marketing

Successful companies aren’t just good at what they do: they’re good at telling the world they’re good at what they do. To increase your visibility and draw in more customers, it’s therefore a crucial part of a small business’s strategy to plan marketing campaigns aimed at encouraging repeat customers and enticing new clients. You’ll be able to outsource this if you don’t have the capability to manage this in-house, or otherwise hire a digital-savvy employee to cover your branding, website, social media and marketing initiatives, with measurable data analysis showing you the success of your marketing endeavors.

Staff

The crux of a successful business is the staff that work the inner cogs of your intricate business plans and market penetration strategies. If your staff are unhappy or demotivated, you’ll be far off maximizing your potential as a company. In this sense, it’s well worth the investment of your time and occasionally of your money in order to boost morale, encouraging a more enthusiastic working ethos within your staff. Staff reward days and incentives will help you motivate your staff, as will personal meetings and benefits set-ups that will help your workers feel valued and cared for.

Strategy

The final component that contributes to a sound small business that’s using maximal efficiency to drive up its profits is the establishment of both long-term and short-term strategies that are aimed firmly at future growth. It may take weeks to draw up a sound strategy, and some small businesses like to use financial advisors and business strategy consultants to help formulate their ideas. However, on the whole, your strategy should guide all the efforts you make to become a well-performing, efficiency-saving and smart business with a model that maximizes your ability to profit and accrue new custom.

These four tips should be useful for any small business owner looking to further maximize their potential for sales, profits and growth.

Nathan Ives

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StrategyDriven Service Provider NetworkNathan Ives

Like most entrepreneurs, Nathan Ives wanted to bring his digital products to market without impacting his family’s already tight budget. So began a ten year journey of research, trial, and error to develop an inexpensive, fully integrated, and rapidly deployable digital products platform.

Today, Nathan Ives’ creative genius drives the elegant professionalism of numerous online businesses and digital product platforms. His flagship website, www.StrategyDriven.com, hosts hundreds of digital products – ebooks, videos, podcasts, articles, and full-scope training programs – and has been visited by over 1 million people and garnered over 10 million page views.

Nathan solved both the financial and technical challenges of creating a truly integrated Digital Products Platform, one that automates the marketing, lead capture, sale, and delivery of digital products without the need for expensive third party services. With this knowledge and experience in-hand, he developed the Digital Products Platform training program; showing entrepreneurs and business owners how to get their digital products to market effectively and inexpensively.

Nathan Ives online training programs are copyrighted and offered by StrategyDriven Enterprises, LLC. These programs support StrategyDriven’s commitment to providing entrepreneurs with the planning and execution advice, tools, and practices needed to create greater organizational alignment and accountability for the achievement of superior bottom line results.

Contact Nathan Ives

Phone: (770) 284-0926

Email: [email protected]

Website: https://nathanives.com

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StrategyDriven Enterprises

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StrategyDriven Enterprises, LLC

StrategyDriven is dedicated to providing executives and managers with the planning and execution advice, tools, and practices needed to create greater organizational alignment and accountability for the achievement of superior results.

We help our clients create and execute a clear, forward-looking strategy – translatable to the day-to-day activities of all organization members – that’s critical to their realizing success in today’s fast paced market environment. Not only does a compelling, well executed strategy align individuals to a common purpose, it ensures that purpose best serves the company’s mission.

The StrategyDriven website provides access to a wide array of best practice business planning and execution tools, streamlined process flows, how-to articles, example-rich podcasts, and customizable ready-to-use program management templates. Premium Members receive access to over 200 members-only articles, whitepapers, models, and tools and templates; providing an in-depth look into critical business performance areas; placing specific focus on the alignment of organizational standards, programs, and behaviors to the optimal achievement of mission goals. Sevian Business Program purchasers receive fully implementable business performance improvement processes out-of-the-box, enabling the acceleration of business growth and heightening of operational efficiency needed to significantly improve bottom line results.

Collectively, our products offer business leaders the opportunity to access the knowledge of a highly educated and experienced staff without the associated overhead expense.

At StrategyDriven, our seasoned business leaders deliver real-world strategic business planning and tactical execution best practice advice – a blending of workplace experience with sound research and academic principles – to business leaders who may not otherwise have access to these resources.

Contact StrategyDriven Enterprises, LLC

Phone: (770) 765-3692

Email: [email protected]

Website: https://www.strategydriven.com

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4 Ways to Safeguard a Company from Failure

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StrategyDriven Entrepreneurship ArticleWhile the abundance of tools and resources available online mean that this generation is arguably the best time in history to launch a new company, many startups are still sinking within their first few years of operation. Regardless of which industry you operate in, there are going to be expenses and risks that contribute toward the possibility of going under. Some business models carry fewer risks than others, but any time you go into business you’re taking on the fundamental risk that things might not go as planned. With that said, here’s a short but powerful list of four steps every company can take to ensure continuity and avoid closing down prematurely.

1. Study Safety and Redundancy

Occupational safety and operational redundancy are two factors that can cause serious financial, legal, and informational issues in the event of a mishap. Startup founders should immerse themselves in the research process and maybe even attend educational events like SeminarFest before officially launching any kind of business. Doing the research beforehand will ensure that you’re not surprised and overwhelmed by problems during the early stages of company operation. Of course, if your company is already doing business, it’s not too late to go back to the drawing board and make precautionary revisions.

2. Diversify Revenue Sources

Diversification is a classic concept that’s often pushed by successful entrepreneurs, and for good reason – it helps to have your eggs in many different baskets. Even within the confines of a single niche or industry, you can still diversify by obtaining more clients and pursuing more projects. You can also diversify your marketing efforts by targeting additional keywords, intersecting topics, and new demographics. Taking a multi-faceted approach will prevent your company from losing big when one source of revenue starts to dwindle or dry up.

3. Practice Stringent Hiring Techniques

Unless you’re running a one-person show, the success of your company is going to depend entirely on the skills and effort contributed by your employees. Thus, it’s imperative to create a strong foundation in the beginning by building the business around a staff of competent, experienced, credentialed, and collaborative individuals. Take time to screen plenty of candidates and consider offering appealing salaries and incentives to attract premium talent.

4. Use Performance Monitoring and Analytics

It’s possible to hire an all-star staff and still face operational deficiencies and suboptimal results. People don’t always live up to their track record, so it’s important to monitor or review employee performance and correspondence to ensure that everyone is carrying out their job duties in the most effective and efficient manner.

Taking Steps to Reduce the Probability of Failure

Ultimately, all of the tips suggested above should be thought of as core components to a much larger risk mitigation and prevention plan. Start by identifying the biggest risks your company faces, and then implement strategies to proactively address those potential issues. By operating with the “anything that can go wrong, will go wrong” mindset, you can create backup plans that account for almost every possible cause of company downfall.