Running a start-up is a herculean task. It makes you look like a figure on an Egyptian bas-relief – your body is going one path while your head is persistently twisting backward to find which of your slip-ups might be getting hold of you.
There are no instant results while running a Startup. This is a long, winding road. You may be struggling with your start up and want to fritter less time looking reverse at what you’ve done off beam. This is precisely the time to re-strategize.
Let us understand some tweaks that can be made while still on the high road.
Turn Your Thoughts into Actions
Think about whether you are spending too much time planning. It is good to make plans but turning your thoughts into actions are more important. Do not keep on planning; take actions on a parallel note. Move out of your comfort zone and work. A detailed plan is a great thing, it requires time and hard work. Believe us, stuff happens, and most successful entrepreneurs don’t make it, they just do it.
We suggest, spend some time planning and a lot more time doing.
Money – It Can Be the Derivation of Your Failure
Remember, if you have “it”, doesn’t mean you waste “it”. There is an inverse relationship between the level of financial assistance and the long-term success of start-ups. Of course, a startup demanding capital requires a large investment. Therefore, try to start with the business that requires little financial support to get started.
Short-term success is easy when you have a lot of money to burn. You can work without investing tons of cash; try to resolve things rather than just throwing money around.
Spend Only On What Brings Profit
Are you spending on things that generate profit? For instance, you have projects lined up and some of them make absolutely no margin. Time is right to cut down on such projects. Spend money wisely. Save it for better stuff. Spend money where it makes a real difference to your customers and will help you gather more. Success is never defined merely by swanky offices. Success is defined solely by profits.
Don’t Do Things That Don’t Generate Basic Revenue
Everything a start up do should generate revenue. Stop creating cryptic spreadsheets, printing fancy statements that only you will make another study of. Curtail managerial errands, and focus your hard work on generating some real revenue. Sure, you are free to do what you love and the money will follow but only if what you love doing is generating revenue for your business.
Hunt What You Can Kill
Every new start-up dreams of instantly on boarding a big client, but that is a long shot. Focus on where you have a fair chance to succeed. Do not waste your time; it’s precious. You can pull your customer base later on and start playing a bigger game!
If you re- strategize your startup following the above five tweaks, we are sure you’ll be able to thrive at what you are aiming for. These are some of the crucial points that most of the entrepreneurs tend to overlook.
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Awesome Read. Just love the stuff you Thugs share. I ensure that i don’t miss a thing.
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