Business Telegraph

Startup News

Smart Startup Strategies - 5 Tips From Entrepreneurs Who Found Success

  • Written by News Co


If you’re launching a startup, you’ve probably had more than one person remind you of the high rate of failure. Though they mean well, these people can leave you feeling stressed out and uncertain of yourself. To help bolster your confidence, here are five smart strategies applied by entrepreneurs who came out on the right side of the startup statistics: 

1. Keep your overheads low

One of the major predictors of failure is a startup that overreaches on expenses before securing steady profits. A prime office location, fancy furnishings, and the latest tech may help you project a positive image, but that won’t do you any good if you go bust from all the expenses.

Instead, consider options that give you the best of both worlds. For example, serviced offices give you all the perks of an expensive CBD office suite at a fraction of the cost. For one monthly fee, you’ll get a swanky office suite, bookable meeting rooms, receptionist services, cleaning, and many other perks, depending on the company.  
 

2. Grow from what you love

Running a startup takes an immense amount of energy and will likely suck up most of your waking hours. Can you imagine sinking so much of your life-force into a business idea you don’t care that much about? Every ounce of hard work you put in would feel infinitely harder, and the grind would soon drive you nuts.

With this in mind, make sure you’re launching with a product or service you feel passionate about. This will inspire you to keep pushing, learning, growing, and taking calculated risks.

3. Find a mentor you can trust

Mentors can be found in many different places. You may have a family member, acquaintance, or former work colleague who’s running a business you admire. You could even find mentorship through a small business group mentoring program.

Wherever you find your mentor, they will soon become an invaluable ally in your growth. They’ve been where you are and will be happy to check in with you to offer their advice and constructive input. If you’re wondering why on Earth a successful business person would want to give up their time for free, you’re undervaluing yourself. The mentor relationship goes both ways, with the mentor gaining a fresh perspective and new energy from their mentees. 

4. Perfect your marketing strategy

Marketing may be essential for your success, but that doesn’t mean you have to spend a fortune on it. Instead, start with a well-rounded social media strategy. You don’t have to pay a thing to create a business page on Facebook. Share it with your existing contacts, develop a following, and it will help your search engine ranking.

You can use tools like SquareSpace or Wix to create a low-cost but professional website. Once you’re up and running, don’t forget to submit your URL to the major search engines (this is also completely free).

5. Be social

While you’re online, be sure to check out community Facebook groups and Quora topics that are relevant to your business. You’re not doing this so that you can spam them with marketing. Rather, you’re sharing valuable information and advice with people that will position you as an expert in your industry. You’ll get your target market familiar with your brand and instill a sense of trust. By being a positive and informative presence in their lives, the next time they’re in need of your skill set, you’ll be the first brand to come to mind. 


Follow the tips above and you’ll be on your way to joining the ranks of successful entrepreneurs.

Entrepreneurs & Leaders

How to Integrate a Remote Offshore Worker Into Your Local Team

Working from home is more popular than ever. In the United States alone, 42 per cent of the workforce is now worki...

Let’s have a look at what regional Australia has to offer you

Every year hundreds of thousands of people come to Australia on different Australian visas. Some of these visas are ...

Franchises stay strong as unemployment soars

With unemployment rates in Australia continuing to increase month on month, franchising remains a steady source of i...

Benefits Of Hiring A Managed IT Services Company In Melbourne

In this world of technology, the success of your business is totally dependant on your IT infrastructure. For medium...

Tips for Optimizing Your Warehouse Design and Layout

It is in every business owner's interest to ensure that their facility is performing at an optimal level. And it a...

New internship for over 55's launches to combat ageism

THINKERBELL LAUNCHES THRIVE@55, THE INTERNSHIP PROGRAM THAT’S ONLY AVAILABLE TO PEOPLE AGED 55 YEARS OR OLDER. Th...

Crypto Trading in Australia - The 500Investments Review

Each and every month, Cryptocurrency trading is getting trendier in Australia. As for 2020, Australian citizens fi...

Top Trading Myths You Should Stop Believing

If you ask a long-time trader about all the advice and the tips they have received throughout their entire trading...

Four things (or maybe five) to help with your move

Planning a move can be a drain even when you are organised. There are always a million things to think about in the ...

Financial Management: 6 Tricks to Manage Your Finances The Right Way

Bad money management. It sounds nasty and you almost certainly want nothing to try to do with it. Having a sound money...

Super Simple - 5 Superannuation Tips That Will Help You Maximise Your Investment

Something many Australians have in common but rarely ever discuss is our collective lack of certainty as to what’s...

After Black Friday, It’s All About CBD Cyber Monday

We all know the many purposes of CBD or cannabidiol. It has been able to catch the attention of many people ever since...

Continuing Medical Education - Importance

Doctors are the link between us and our health. They are an important component in the continued well-being of our...

What You Need to Know About Front End Loader and Training to Be an Operator

A Front end loader is also referred to as a loader or a bucket loader. This is a piece of heavy equipment that’s n...

Enhance the Security of Your Valuables with Lockers

Workplace or office theft is one of the things that nearly everyone is highly concerned about nowadays. It’s impor...

3 decor ingredients for the perfect guest bedroom

It is a room that is often left until the very end. At the same time, believe it or not, guest bedrooms are someth...

Major Ways in Which Technology is Changing the Oil and Gas Industry

Digitalization and technological innovation are transforming virtually every industry that they come in contact wi...

10 common signs you might be having money problems

Life can seem like it’s under control but for many people, managing finances is an ongoing issue that can affect eve...

Home Interior Painting: Is it a Good Idea to Paint during Winter?

Want to re-design your home with new paint? Discover how to revamp your interior house painting this winter and with...

7 Simple Ways to Childproof Your Home

Unfortunately, your own home can turn into a safety hazard for a small child if you don’t take it upon yourself to...

Sydney Pest Control Quick Traps Against Vermin Invasion – Effective, Fast, and Easy!

How can you be vigilant when it comes to rodent infestation? There might be one trying to sneak into your home rig...

Ozzy tyres 4x4 wheels review

The performance of a 4x4 vehicle depends to some extent on the wheels and tyres fitted on the vehicle. Hence the vehicle...

Genealogy Resources and How to Use Them Effectively

There are plenty of online and analog resources that can provide tutorials, further resources, and troubleshooting...

Redesigning Your Garden

Tired of looking through your kitchen window at the same drab garden? Are you feeling creative and have the desire t...

Writers Wanted


News Co Media Group

Content & Technology Connecting Global Audiences

More Information - Less Opinion