Taking on the role of a small business owner can be exciting! And also, stressful, which we totally get. You are taking a huge leap of faith and praying it will all work out. With so many things to do to get your business started, here are four to keep at the forefront of your mind.
1. Think about growth from day one.
Entrepreneurs don’t wait for their product or service to be perfect before launching. They create their MVP (Minimum Viable Product) and then let their customers shape the development. While you don’t need to, and shouldn’t, wait until you have perfected something before launching, you should absolutely think about growth from the very beginning! Creating a vision board, charting out your goals, and having sources of inspiration will enable you to make sure that every decision you make is in line with your long-term goals and purpose.
2. Get clear on who your customers are and run every decision by them.
This doesn’t mean you are nagging your customers every day to ask them what they want. Rather, it means that every decision should go through a ‘customer filter.’ You should be so in tune with your customers that you deeply understand their wants and needs.
3. Ensure your business is problem focused.
If you can’t clearly articulate what problem your product is solving, you should go back to the drawing board to rethink how your product could solve a customer problem. It is essential that you know the problem you solve for your customers. You need to know how you bring value to your customers and why you solve their problems better than anyone else.
4. Take the time to build a solid team.
Your startup team is critical for the success of your business. One wrong hire during the beginning stage of your business could be detrimental for your company. Your idea will fail if you do not have the right team to execute. Pro tip: make sure you are careful in their employment contract to use the right verbiage. You will want to have the flexibility to remove people quickly if you make a mistake when hiring.