However revolutionary your product may be, your start-up cannot be successful without having the right people working for you. Attracting, hiring and keeping star performers should be one of your core priorities as a start-up founder. The responsibility rests firmly on your shoulders, so make sure you are up to the task!
Effective cash flow management is a vital ingredient for the success of your start-up. For established businesses, cash flow is king. For start-ups, it's God.
The number of start-ups is constantly on the rise, and they are all vying for the attention of the general public. Those that fail to expand, or just flounder after an initial success, may find the root of their failure has something to do with their business positioning. Put simply, your start-up needs to nail down its positioning strategy.
In short, positioning is all about what you place in the mind of your potential customers, not what you do with your product. Your marketing strategy itself starts here, so in today’s ultra-competitive business world, you need to focus on having a superior positioning strategy.
The business world is a fickle one, if you don’t have the perfect positioning strategy then you run the risk of missing out on prospective clients every day. Whether you are new or old, one of the best methods of learning is through your competitors. The problem is you can’t ring up the competition and simply ask – “how they are you nailing your marketing objectives?” Fortunately there are ways you can find out exactly what they are doing, right and wrong, and the answers will certainly help your business blossom.
Believe it or not, there are startup and SME owners out there who overlook the importance of having a positioning strategy, but it’s not entirely their fault. Fresh faced entrepreneurs who never went to business school or sat through a marketing class learn about the industry through experience, and not everyone gets to learn about positioning strategies until later on in their careers.