Our start-up will have different phases and stages. As company founder, we need to be ready on each stage. For example, you are planning to put up an advertising agency, the phases of your start-up might look like this:
Phase 1 Logo creation, website design and applying for Trade License.
Phase 2 Launching your marketing plan, opening your bank account and targeting your audience.
Phase 3 Daily operations, business model and growth & expansion plans.
Those 3 phases are shortcut version and each start-up would have their own stages depending on it's nature and type of products.
Always remember to answer few questions on each stage;
Why are you starting this business?
What is your business model?
Why you want this business to succeed?
Those questions above will help you keep going and thriving on each stages of start-up business.
If you are already on your Stage 3, here are 3 tips to improve your start-up business:
First, Improve your customer service.
We need to amaze our customers and meet their expectations. Always remember they are here because you are serving them and delivering value to them in exchange of their loyalties to your products and services.
Second, Build better customer relationships.
Calculate how much revenues you need to run the business and divide by the price of your product, that is the number of your customers needed for your business to survive.
E.g. 100,000 AED / 1,000 = 100 , you need 100 paying customers monthly.
Build a long lasting relationships with your first 100 customers and retain them for long-term so your business can stand for years to come.
Third, Optimize your website & social media platforms.
Website and social media platform will speak for your branding and it can bring customers on a daily basis. Let your website and social media platforms speak of your USP or unique selling point.
Follow one of those tips and your start-up business can stand the competition and test of time.
If you need help with your Accounting & Finance, please don't hesitate to contact us:
freelancefinancecontroller@gmail.com or whatsapp us: 050 376 04 36 .
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