So, you’re looking to build a startup and follow in the footsteps of greats like Steve Jobs, Elon Musk, and Michael Dell. Great choice!
But before you go about making the world a better place and filling your pockets, you’ll want to get some advice.
90% of startups fail, after all, so the right startup business tips can keep you from making these same mistakes. Keep reading to find out how you can prepare for success!
Don’t Chase Trends, Solve Problems
There’s money in chasing trends. However, that money dries up quickly once people move on to the newest flavor of the week.
For your startup to have longevity, you should aim to solve customers’ problems. How can your product or service make the lives of your customers easier?
If you can manage to make people’s lives a bit more convenient, you’ll find yourself with repeat customers, and thus, stronger revenue.
Set Your Business Apart with Custom Packaging
The more ways you can set yourself apart and stand out, the better. Custom packaging is an often overlooked way to help your company stand out.
Think about it: if you were in a room full of packages, you’d be able to suss out the Amazon package in a matter of seconds thanks to the logo on its shipping boxes and its custom tape.
You can use the same strategy for your business! Once you have a logo you’re satisfied with, order labels online and customize your shipping boxes. That way, customers will get excited about their order before evening opening the box.
Know When to Outsource
Even if you’re an expert multitasker, there’s never quite enough time in the day. But don’t think you have to tackle everything yourself.
In fact, doing so might be detrimental to your business.
Instead, consider outsourcing certain tasks that either take up too much time or require too many resources.
Let’s say you’re looking to market your company. Instead of dedicating hours to learning the ins-and-outs of managing a campaign, subscribing to services, and carrying out the task yourself, you’d be better off hiring a dedicated marketing company.
While it might cost a bit more upfront, you’ll ultimately get better results since you’re working with a team that knows their stuff.
Research Tax Tips
69% of startups are headquartered in the founder’s home, continuing the long tradition of home-based businesses like Apple, Amazon, and Google.
It’s a smart move, as working out of your home can save you tons of money on rental space. But did you know that you can write off the office space in your home for a tax bonus?
Small business taxes are killer, and you’ll need every tax cut you can get. Keep track of your expenditures, whether it’s a chair for your office, a hotel room for a conference, or even your Internet service.
Create the Next Big Thing with These Startup Business Tips
By following these startup business tips, you should have a strong foundation for your business that allows you to save money, time, and manpower. Now all that’s left to do is put your plan into action!
Don’t forget, we’re here for you! Keep checking back with our blog for more great startup tips.