4 WAYS TO SURVIVE YOUR START UP YEAR


People love the idea of business, almost everyone thinks there is an entrepreneurial skill in them, which they feel is enough to gear them up to success. This ofcourse, isn’t always the reality when people come into business. They discover business goes beyond the capabilities of their skills and what they think they know. Here are four strategies to survive your start up years.

CUSTOMERS ARE KEY: this is the basis on which any business should be built on. Without customers, there is no business. You need your customers, they pay the bills, you need them to keep coming back, and they sustain the business. Without the customers, your business is as good as dead. Build your customers right, they are key to your business’ survival.

SALES ABILITY: mastering the art of sales is a must for a start up. Your art of sales reflects in your business performance. If you can’t strategise and understand how to target your audience and make them pay for your product or service, you might never be able to do business successfully.

CONTROL YOUR SPENDING: your start up year is the year to be frugal. Control the way you spend and don’t invest on irrelevant items when you are still waiting for your business to pick up. If you are not a disciplined spender, you might not be able to do business successfully.

KEEP RECORDS: as a start up business, its easy to get too busy fixing things up. It is even very possible to think you are too small to start keeping a record but this is not true. Keep a record of every purchase and every sale, measure your metrics and be certain to consider better options for the metrics that are not efficient enough.

Starting up is challenging but it is possible to overcome the challenges of a start up if you consider the above points.