8 Ways Your Startup Can Master Sales and Growth

Embarking on a startup journey is like shooting an arrow in the dark: you are absolutely not sure if it will hit its target — uncertainty is one of the main challenges entrepreneurs face. You don’t know where market forces are going, and unfortunately many startups don’t even get the chance to mature or grow. However, you can greatly increase your chances of making your business a success by adequate planning, adopting some relevant practices, and avoiding mistakes made by failed entrepreneurs in the past. Here are some key factors that can help.

1. Clear business vision

Without a clear and transparent vision, the company will not survive or grow. That’s why it’s so important to set detailed goals for your organization. A good first step is to write a vision statement that outlines your long-term and short-term goals and objectives. It acts as a strategic plan for success, and will be your compass during difficult times — it will give you clarity on every decision from monetization to scaling.

2. Time and money management

Working without a schedule can reduce productivity, and if you’re not careful, you may end up returning to (or never leaving) where you started. So, make it a point to distinguish what lies before you each day in terms of the number of tasks and their priorities.

In a startup, there is also a high probability that money will be limited, and you will have to work efficiently and with fewer resources. You’ll also need funds to keep operations running at every point, of course, so it’s important to have a budget so progress isn’t hampered by a lack of planning.

Related: 6 Money Management Tips for First Time Entrepreneurs

3. Emphasize execution

To me, this word refers to how you put a business idea into reality, and is the fundamental and most critical aspect that will determine its success. Efficient execution, along with an experienced team, will help keep you headed in the right direction.

Implementing the right plans and strategies can change your position in the market. It’s not always the out-of-the-box ideas that scale the business; sometimes even unique ideas don’t translate well in the real world, but great execution can make the difference and help you stand out from the rest.

4. Keep the customer in front

Customers are the defining aspect of any company. If they are not happy with what you give them, the chances of them coming back are slim. Hence, it is important to make them satisfied with any product or service. For this reason, it is important to conduct a survey to gather information about their needs and expectations and modify your operations accordingly. This may seem like a lot of investment at first, but it will be worth the effort in the long run.

But remember not to go overboard with customer demands. When a business starts to grow but you change direction with every request, it can lead to underdelivery. It is better to produce according to your capacity and therefore balance customer satisfaction.

Related: 5 Ways to Put Your Customers First

5. Don’t measure too fast

Scaling means setting the stage to enable and support growth within the company — to drive the ability to grow unhindered. However, it can be tempting to start scaling a business early, which can often be its downfall. Before attempting to do so, it is important to develop traction by identifying the product market and target customer base. If you start selling without any plan or strategy regarding stock, staff, funds, technology, etc., the business may not be profitable.

6. Adapt to changes quickly

To shape your product’s unique selling proposition (USP), you need to be agile — to quickly adapt to changes, including evolving technologies. Doing this consistently will also result in cost savings and increased productivity. But recognizing market changes is not enough; implementation is also important. If you can’t respond to change effectively, that response can backfire. To stay ahead of the competition and differentiate your product from the rest, keep an eye on the market, competitors and the economy, and respond proactively.

7. Learn to accept feedback

Whether positive or negative, feedback shows what customers expect from you and helps you make the right decisions, including ways to improve.

Customers have many options to choose from. Even if you build a product based on sufficient professional expertise, it’s their opinion that matters, and it’s your responsibility to give them a reason to stay. Assessing customer feedback increases satisfaction levels and helps build loyalty.

8. Stay socially active

There are many advantages to being socially involved, including building a network in your industry. First, it helps attract potential investors. Building a strong network on social media and creating awareness of your brand appeals to them and helps them stay close, which will help you create a company that lasts.

Promoting your brand online exposes you to a larger audience and gives you the opportunity to earn their trust. It also brings validation to the business, which will help you get more customers and generate more revenue.

There will be many hiccups and challenges in your startup journey, and sometimes you may feel like giving up. Keep in mind, however, that risk is an integral part of the journey to success. The important thing is to face them, along with other obstacles, and move forward while learning from mistakes and other experiences.

Related: How to Keep Your Startup Team Adapting