5 Things You Should NOT Be Doing to Grow Your Start-Up

As more and more people continue to show interest in starting their own businesses, the need for better work strategies also grows. Perhaps you are thinking that telecommuting is better than actually occupying a small workspace. Maybe you are asking yourself, should you hire somebody to answer calls? Will part-time workers be more cost-effective than full-time ones?

Some start-ups that use a Connecticut office space can attest to the benefits of having a dedicated workspace. Other employees on the other hand, are more productive when physically present in an office. Nevertheless, whatever choices you make, there are certain blunders you can avoid this early on. Such as the following:

Not Planning Enough

Every successful business starts with a good plan. You have heard of the proverb “If you fail to plan, you plan to fail.” Planning is like the traffic light in your business. It helps you understand when you need to move forward with your goals, postpone them for next time, or completely put them on halt. You can also create a list to help you set your objectives quicker. Some people start with the following questions:

  • What inspired your business?
  • Do you have a partner to work with?
  • Who is your target audience?
  • How are you planning to gain clients and investments?
  • Which media platform are you going to use?

Undercharging

Many new entrepreneurs and start-up owners tend to make this mistake early in their businesses. Either they do not know how to set an effective price or they have the mentality that starting at the lowest price will give them more clients. However, this is not the case. Keep in mind that a well thought out and correctly implemented price list is essential in growing a small business.

Not Putting Much Effort in Customer Service

Another aspect that some start-ups neglect is proper customer service. You need to develop a team or a person that is highly knowledgeable about relating to people. Any business is capable of giving customer service so make sure you provide one that is beyond industry standards. You need to be prepared all the time, as you never know when a client or an investor comes “ringing on your phone.”

Letting Good Employees Go

A common problem with a start-up is their inability or perhaps, lack of experience, to handle good employees. Good workers are the greatest asset of a company – big or small. When you are confident that you have hired the right person for the job, do not take chances. Be sure you create or develop a system that rewards their efforts.

Failing to Develop Leaders and Managers

Lastly, some new businesses do not prioritize developing managers or second in line leaders. One day your company may expand, so it pays to be ready when you need to delegate some management responsibilities. Highly successful business owners never quit learning about their business. You can apply the same principle to people: You should never stop developing and inspiring soon-to-be leaders.

Starting a new business can be nerve-racking but exciting. Through using the right resources and applying the best strategies, you will not go wrong with your start-up. If you need a unique office space in Stamford, CT, that has the suitable amenities and environment, do not hesitate to turn to us, Connecticut Business Centers.

We provide fully furnished conference rooms, virtual office solutions, executive workspaces, and more. Our complete and flexible workspace solutions are benefitting many entrepreneurs, start-ups, and other businesses. Just give us a call today at (203) 359-5600 or send us a message to get started.