Startup Launch: 10 Secrets to Startup Success
Every startup launch has hurdles, in this post we’re sharing 10 secrets to startup success from launch through year one with a new business.
It is the hope of every new business that they will hit the ground running with their startup launch, but time and time again, you will hear of startups failing in their first year.
Even a startup business with a great idea may struggle in the early days. While there is no magic trick for success, there are a few lesser-known tips that could help a new business hit the ground running, with their startup launch, and lay the foundation for future success.
People tend to make the same mistakes when it comes to launching startups, so here are a few of the best secrets to success, that will help you with your startup launch.
1. Become an Industry Expert
Many people rush through the market research stage as they want to launch the business, but this is not an area that should be rushed. It may not be the most exciting part of starting a new business, but research is vital to success.
If you can become an industry expert, then you will be able to make intelligent business decisions. Having a solid understanding of your competitors and their strengths and weaknesses and looking into the industry-leading businesses will help you find ways to make your startup launch more visible amongst the competition. It will help you to find where you fit in the market, and what you can bring that others cannot.
2. Have A Clear USP
It is challenging for a new business to succeed if they are not bringing anything new to the table. This is why you need to use your market research and understanding of your competitors and your target customer to create a clear USP that will appeal to this group.
A USP is something we talk about a lot in respect to building brands. You need to make this USP clearly known so that you can attract people to your business from the very start and build a reputation for yourself.
“The difference between A brand and a business is that a brand has a loyal following and a USP, a business is just another competitor selling products or services.”
3. Secure Enough Funding
It is essential to keep the operation basic (more on this below), but at the same time, you need to provide the best possible product/service from the very start, so you need to work out how much money you need to be able to do this and then find ways to raise this amount. Finding investors can be challenging but might prove useful if they can provide advice and guidance (this is particularly useful for first-time business owners).
4. Keep It Basic
Following this point, you need to keep the operation as basic as possible while still providing the best possible product/service. A few good ways to keep your costs down in the early days include:
- Remote working
- Outsourcing services like SEO
- Second-hand furniture and equipment
- Open-source software
- Negotiating with suppliers
5. Start Advertising as Early as Possible
The key element to hitting the ground running is to create as much awareness about your brand as possible. It can take time to build this up, so ideally, this should start happening in advance of your launch date so that you can have as many people aware of your business as possible from the start and create excitement about your launch.
6. Encourage Friends & Family to Raise Awareness
You should not overlook the value of friends and family in the early days of a startup, as they can play a huge role in raising awareness about your business. Something as simple as getting all of your friends and family to share a social media post and to speak to their friends about your business can go a long way at the very start and help you to start attracting customers.
7. Start Creating Quality Content Immediately
One of the easiest ways to raise awareness about your brand before you have launched and to show your expertise is to start creating high-quality content. It is a good idea to see what kind of content your competitors are creating and then find ways to take this to the next level, such as using different media types or speaking to industry experts, the sooner you get this up and running the sooner potential customers can see what expertise you have to offer.
8. Use an Experienced Web Design Agency
To attract customers and build a positive reputation, you must have a high-quality, engaging, and easy-to-use website for your startup. While you could create this yourself, for the best results, you should use an experienced web design agency as they will know the latest trends and create a website that will impress your target customer (this also frees up time for you to focus on the other important areas).
9. Use A PPC Marketing Agency
It is also a good idea to use a PPC marketing agency like Factory that will help to make your business visible online immediately. SEO is worthwhile, but it can take a while for results to show, so using an agency that specialists in PPC is smart because you can get your products/services placed in front of your target customer in the sponsored section of search engine results lists. This is a cost-effective form of marketing that can help increase traffic to your website by a significant amount – this should lead to conversions provided that you have a high-quality website.
10. Find People That Compliment Your Skill Set
You cannot do it all alone in the business world, and as a startup, you will want to have talent with a skill set that complements your own. Many business areas need attention and having skilled and hardworking people handling these areas allows you to focus on the big picture. You might find it helpful to use a combination of employees and contractors to keep costs down and get the support you need.
These are a few secrets to startup launch success, which should come in useful. Many startups fail before they have even really had a chance to impact a market, which is a shame, but it often comes down to making the same mistakes. These tips will help you to sidestep these common mistakes and hopefully hit the ground running with your startup launch so that you can find success down the line.