It only takes a few Google searches to become overwhelmed by abundant information about entrepreneurial start-ups. Numerous stories exist on how this or that start-up transitioned into a victorious, reputable business. But, in various cases, you will be left trying to fill in the blanks or still searching for case studies significant to your industry or business model.
There is only one dependable method to get your industry to the next level. And that involves putting your faith in tried-and-tested ways other entrepreneurs have used to leap.
Focus on Productivity and Not Only on Activity
Shun the busyness trap and question what you must focus on today or in the future. Plan so that you know what your next steps are. Leadership expert and Coach Leah Wultschik has distinguished that when leaders engage in all ways of business, the never-ending center to get things done results in decreased creativity. You will constantly be in a reactionary state, leaving you unable to make strategic decisions.
Hire the Best Talent Possible
Surround yourself with world-class workers who bring priceless ideas rather than trying to squeeze what you can from second-rate employees. Aislinn Malszecki, who oversees content strategy and community at MaRS, suggests the following steps to be a focus for finding the best talent possible:
- Avoid reactionary hiring: Founders frequently find themselves badly needing help and may hire without looking for the right fit and skill set.
- Create a buzz for your company: Use your reputation and personal network to draw the right people to your business.
- Tap into your network: In addition to posting jobs on your website and LinkedIn, influence your network as well as the networks of your employees to find like-minded candidates.
- Building your team is not a subject to be taken lightly: Neighboring yourself with the right people can mean the difference between breaking through and remaining stagnant as a business. Work with people who motivate you.
Partner with an Agency
The opportunity cost of doing the whole thing yourself can add up quickly. Work with an agency. The up-front cost of outsourced work will eventually be less costly than trying to do it all yourself.
Patrick Woods, director of customer success at Keen IO, notes the specific challenges of working with an agency. To overcome these hurdles, he suggests:
- Build a relationship with the agency: Take time to get to know the people you will be working with. Determine fit as well as expectations.
- Communicate: As start-ups tend to move fast, converse regularly and clearly with the agency to ensure you are on the same page.
- Understand what the agency can do for you: Elucidate its staffers’ core strengths and competencies. Establish what tasks you want them to take over and which you want to handle in-house.
Beware of Negativity
Lack of enthusiasm can poison the waters of your entire company. On the other hand, being confident will instill a sense of confidence in your employees. They will follow you more eagerly. Best-selling author and keynote speaker Jon Gordon has pointed out that negativity can affect your team’s morale, presentation, and output. Negativity can also lead to decreased energy and increased stress. When creating a positive work environment, the responsibility lies with the leader. You need to set the tone for your team to draw the best out of them.
Avoid Burnout
James Schramko of SuperFastBusiness is an advocate for getting more rest and sleep. Schramko points out that good rest can help you boost your performance. The cost of losing sleep is essential and can include depression, a weaker immune system, memory issues, obesity, and more. Burnout can be expensive if you make yourself incapable of working for an extended period. Consider the costs before letting yourself get to that point.
Prioritize
You will only be able to do some of it. No one has more than twenty-four hours, and we are all terribly busy. Derek Sivers, the founder of CD Baby, has said that he lives by the “Hell, yeah!” or “No” philosophy. He explains that saying no to most things leaves room in your life for the few things that get you genuinely excited. If you find yourself wavering between a “yes” and a “no,” he suggests choosing “no.” Only say “yes” to opportunities that you cannot pass up.
Conclusion
Transitioning from a start-up to an established business can take time. Take your time with the process. When all the right pieces are in place, you can shift quickly from one stage to another. If you try to force the issue, you may have more troubles than you bargained for.
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