05/16/16

5 Keys To a Successful Business Startup

If you have been thinking about creating your own business startup, it’s never too late to start. There are so many resources available to entrepreneurs and small business owners, there are plenty of places to turn when questions or challenges arise. Here are 5 keys you may find helpful when starting your small business.

Crowdfunding

Most people think that they need a lot of money to create a business startup. That is not entirely true. With the help of crowdfunding, you don’t need to have a lot of money. All you need is knowledge (which is offered all over the internet. Most of the time, it’s free) and the ability to take action. A good site to use is Kickstarter which can help you start a campaign to raise funds for your business venture.

Build More Relationships

Partners inside and outside your industry can be beneficial for you. Getting ahead in today’s market is not only about what you know, but who you know. By building relationships, you can get help from people when you need it. Imagine having a large Rolodex of people with different skills that you can call up when you need something done. Building more relationships will also give you the ability to listen to peoples’ problems and needs. By doing this, you will be open to more business ideas which can lead to great successes. Remember, business is about solving needs. By building relationships, you have a higher chance of success as you have a greater amount of people that can provide help when you need it and you will be able to find more business ideas.

Take Advantage of Available Technology

business startupHaving great up to date technology is a competitive advantage. Whether it is software or hardware, technology can set you apart from your competition.  So don’t be stuck with your old way of doing things, try new innovative programs or hardware that is up to date. That way you fall behind your competition in this technology era.

Use past failures to create future success

This is for you entrepreneurs who have failed several times. Many successful entrepreneurs haven’t hit it big on their first try. Look at Colonel Sanders who found KFC, he was rejected 1009 times before finding a taker for his fried chicken recipe. Now KFC is one of the largest fast-food restaurants in the world. The point is, look at your past failures, find our why you failed, and try to implement that lesson learned into your new venture. If you keep learning from your failures, your chances of success will be bigger.

Have a great online presence

Notice how I said great. Not good, but great. Nowadays, almost everyone has access to the internet. People usually spend as much time on the internet as they watch TV. Having a great online presence helps brings awareness to your business. Establishing a great looking and a fast website is must-have for a business. It is also important to have great social media presence as there are many people looking for the next big thing. You also will need a great internet marketing campaign to bring awareness to the people that don’t know about your product yet. You need all these things in order to have a great online presence. It’s worth it because it can give your business a lot of interest.

If you focus on these five keys when creating your business startup, you will have a greater chance of success. Good luck!

 

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About the author

Tyler Heaps
Tyler is a member of the Lendio marketing team. He is passionate about digital marketing, small business, and helping small business owners succeed. Tyler is an outdoorsman and loves spending time with his family.

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