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Starting a business is exciting, but the path to success is demanding. Whether you’re starting a latest enterprise or expanding an existing one, taking the right steps can greatly increase your possibilities of success.
While every work trip is unique, there are 4 basic steps that each one entrepreneurs should follow when building or growing a business.
1. Verify your idea and develop into your first salesperson
Before you can grow your enterprise, you need to know if there is a demand for what you offer. The best way to validate your idea is easy: go out and talk to people. Don’t just ask if they like your product or service; ask if they are going to pay for it. This is a real litmus test of market demand.
Start by reaching out to your network – friends, family, co-employees, even acquaintances. You can even contact local businesses or potential customers directly. For example, if you are developing a latest product, walk into a nearby store and ask the owner if he would buy it. Be direct: “Would you pay for this?” If the answer is yes, ask them to approve your pre-order or deposit. The idea is to gauge real interest, not only polite encouragement.
Once you’ve validated your idea, ask yourself, “Am I ready to become the number one salesperson?” In the starting, no one will understand your product or service higher than you. Securing your first 100 customers is crucial, and as a founder you needs to be leading the process. Even if you don’t see yourself as a natural salesperson, this experience will teach you invaluable lessons about your goal market, pricing, and customer needs.
If you do not feel comfortable in this role or find it too overwhelming, it might be time to consider hiring a partner who excels in sales. Remember, nevertheless, that at the starting nothing can replace direct, practical experience in selling your personal product.
2. Build a strong digital presence
Once you validate your idea and start attracting your first customers, it is time to establish your digital presence. In today’s business world, your online footprint is often the first interaction people have with your brand. A powerful digital presence increases your organization’s credibility, attracts customers and helps you stand out from the competition.
Start by organising your website. It doesn’t have to be too complicated at first – just make sure it’s skilled, easy to navigate, and clearly communicates what you’re doing. Then create profiles on the social media platforms most relevant to your enterprise. Whether it’s LinkedIn, Instagram or TikTok, being lively on these platforms is a must.
From here, start focusing on SEO (web optimization) to make sure that people can easily find your website. You can even explore internet marketing options resembling Google Ads or Facebook Ads to increase traffic and generate leads. Building a consistent and skilled digital presence from the start will give you a solid foundation as you grow.
3. Define your operations team
With a proven idea and online presence, it is time to think about how your organization will operate on a day-to-day basis. Defining your core operations team early is crucial. Ask yourself who will handle customer support? Who will manage inventory and order achievement? Who will oversee the sale?
If your organization leverages technology – whether it’s software development, an online platform, or simply using technology to streamline operations – you also need to strengthen your product development team. This could also be the moment you meet a co-founder or partner who will complement your skills and bring expertise in areas resembling technology, operations or product management.
Clearly defining roles is essential, even in the early stages, to ensure your enterprise runs easily and can scale effectively.
4. Set up HR and financial systems
Many startups underestimate the importance of human resources (HR) and financial systems, often treating them as secondary issues. However, failure to properly configure HR and accounting from the very starting may lead to serious problems in the future.
An HR department could seem unnecessary if you only have a few employees, but establishing basic structures for hiring, managing performance, and building a strong company culture is crucial when scaling. (*4*), organising the right financial management system will help you track money flow, manage payroll, and ensure long-term profitability. This includes organising accounting software and establishing accounting processes.
While these tasks may seem to be an afterthought, having a solid staffing and financial foundation will give you the stability you need to successfully grow your enterprise.
Starting or growing a business requires careful planning and execution. By validating your idea, becoming your first reseller, building a strong digital presence, defining your operations team, and organising key HR and financial systems, you’re laying the foundation for success. These 4 basic steps will help you move from concept to execution, ensuring your enterprise is built on a solid foundation.