Starting a business? Remember these three things
There are many resources that can walk you through the business basics: what to plan for, what numbers to crunch, and how to move forward. But there are a few things that we forget, or worse - things that we were never told about to begin with!
Here I’ve put together a list of the top three things that businesses overlook, all gathered from my experience in the business world. Whether you’re just getting started or your team is in the middle of launching a product - make sure you have these areas covered.
Are you managing your team for success?
A lot of people forget to regularly evaluate and re-evaluate team and project roles. You need to think of the group launching your project like a team launching a rocket into space. Every detail is essential, and so is every person involved.
If you cannot effectively organize your team and lead them from one point to another, lots of things can go wrong. Enthusiasm can fade. Those who were with you in the beginning sometimes abandon ship. New people may come and then leave again. A solid team will not build itself.
And even if you think that you have all the right people, you still need to continually assess and reassess each role for every project. It takes a healthy team dynamic to survive, and even more so if you want to take things to the next level.
Are you building a strong Network?
Many young companies fail to build and maintain a strong network, but this is essential to survive and thrive. A contact you made five years ago is great, but they may no longer be active. Have you checked in with them? You need relevant and updated connections with people currently engaged in your field.
Now, more than ever, we must continue making these connections and helping one another. Yes, physical events are being cancelled, and it is true that there are plenty of online opportunities available. But in a vast sea of new developments and online opportunities, it is important to find the right networking event for you, so that you get the most out of your time, energy, and money.
LinkUpConferenceShow offers 6 hours of curated online networking with 100+ new contacts in a one-day event. Networking groups are small and personalised, with support from trained LinkUp Managers. It’s the crème de la crème of business matchmaking, designed to help you connect, grow, and take things to the next level.
Are you prepared for every pitch, meeting, and event?
We do not live in a one-presentation-fits-all kind of world, especially now as we depend more and more on online video interactions. Every presentation has a purpose and a set of questions that you should be able to answer clearly and concisely. Success depends on how prepared you are for every interaction, with every person, place, and event.
When preparing a presentation of any kind, make sure you answer the following questions:
- What is the goal?
- Who is my audience?
- What do I expect to get from this?
- What are my metrics for success?
- How can I make the most of it?
- How can I stand out and attract attention?
- Will any media be involved?
Every pitch and presentation needs to be catered to the audience. It is essential to have different presentations ready to roll - from your elevator pitch to your in-depth investor presentation. Make sure that you are prepared with something that is the appropriate length for the situation, and that will deliver the results you need. This means many versions, lots of tweaking, and lots of practice!
Being prepared is advice that applies to more than just pitches and planned presentations. The same routine applies to meetings, conferences, and events - whether they are online or offline. Every interaction matters and needs to be viewed as a serious opportunity to set yourself apart. Stay up to date on your competitors and research the people you are meeting with or presenting to. Do the legwork that will help you stand out in a sea of people and projects.
Okay, guys, that’s it: keep close tabs on your team, never stop networking, and be prepared for every pitch - three areas that many businesses need to strengthen to truly succeed.
Have you noticed any other patterns or experienced other mistakes? I’d love to hear about them in the comments. Let’s lift each other up during these trying times and focus on success as we move forward. Cheers, and good luck!