The latest Census Bureau Dynamics Statistics reveal that in 2015, 414,000 startups created 2.5 million new jobs, each bringing in anywhere from $1 million to $2.49 million in annual revenue. If you hope to take your startup to the next level, these ideas can help you do just that.
Expand Your Capabilities
There is only so much one person can do, which means if you haven’t already, you may want to automate some of your work and hire more employees or enlist freelancers. Even if you purchased a property in a rural area, perhaps a slice of Virginia real estate, and have been running your business from home, hiring freelancers will give you a much larger pool of talented people to choose from.
The important thing is to make sure you have the right personnel in place to take your startup to the next level and continuously make the effort to take care of them. No business can grow without the right people working together towards the same goal.
Increase Your Marketing Efforts
One of the key steps to taking your company to the next level is to ramp up your marketing efforts. The more people who are aware of your products/services and brand, the more likely you’ll be able to boost sales. Just some of the ideas to do so include taking advantage of social media, using direct messaging on platforms such as Twitter, Instagram or even Snapchat to communicate with potential customers who might be searching for your services and products. Don’t ignore the visibility and reach of YouTube either. Use it to create useful, information and perhaps tutorial videos. If your website doesn’t have a blog, start one immediately, and create content that adds value.
You can also show off your expertise offline by hosting regular industry-related events like workshops and lectures. All of this helps to establish your brand as an authoritative source. Consumers generally trust the brands they consider as experts in their field as it means they’ll be getting the best possible services and/or products.
Invest in Yourself
Be sure to learn all you can about your business and how to take it to the top. Attend seminars, conferences and consider working with a business coach – all common practices among the most successful entrepreneurs.
Carefully Scrutinize Potential Investors
Entrepreneurs who achieve the most success don’t just take the first investor who knocks at their door. Take the time and effort to meet potential investors well in advance of the need for money in order to vet the field for the very best match. They should not only have cash but skills, judgment, experience, and connections with the ability to attract new clients to bring in strategic partners and find other investors.
Continue to be Persistent
Once you’ve achieved some measure of success, don’t start getting lax. You’ll need to stay persistent in order to get through inevitable challenges and disappointments. Setbacks aren’t necessarily failures but opportunities to learn and refine your approach. Failure only comes when you stop trying or run out of money.