If you run a start-up, you will know that one of the most important qualities a new business can possess is momentum. When you are creating a company from nothing, you will have to generate this momentum from a standstill, which makes it crucial to consolidate it as soon as possible. Taking your foot off the gas when you have only just started to gather some momentum can kill your business outright, which is why you should focus above all else on growing your start-up quickly. By doing this, not only will your progress be compounded, but you will also find it less effort to establish a sustainable business model. Of course, this is not to say that growing your start-up is easy. If it was, every new business would become a success story overnight. You will have to decide which growth strategy is the best for your company and then go through the painful process of bringing your ideas to fruition. To help you decide upon the right course of action, here is some advice for growing your start-up quickly:
Create your own app
A great way to establish a sustainable business model for your start-up is to create an app. While this tip may not be relevant for companies in some industries, you would be surprised by how many different business models can benefit from having an app available to customers. The reason why apps remain so compelling is that they offer you a form of digital real estate - a platform that is designed by you, sold by you, and controlled by you. This cuts out any unhealthy reliance on third-party-controlled platforms like websites, social media platforms, and streaming sites, which have been known to leave many start-ups in a precarious position if they decide to remove your account for any reason. Furthermore, an app allows you to offer customers a range of different in-app purchases, which strengthens your business model and makes the customer experience far more pleasant. Of course, if you want more reassurance about the popularity of apps, check out the Google Play top grossing apps.
Stick to a single product offering
When you are trying to grow your start-up quickly, it can be tempting to offer a range of different products and services in an effort to garner sales from all over your market. It is an understandable approach, but it is unlikely to get you anywhere. Your business will be stretched thin, with your limited resources trying to develop multiple products simultaneously. The result is a poor range of products and an inability to serve the customer properly. Instead, stick to as few products as you can, focusing on making them the best in your market. This way, you will build not only a strong customer base but a water-tight reputation.
Keep your team small
In the same way that it is important to keep your range of products as simple as possible, you should avoid the temptation to grow your team for the sake of it. Just because it feels good to have a sprawling office full of people does not mean it is right for your business model. Employees cost money, with no promise that they will improve your business. Instead, stick to the essential members of your team that you can’t do without. If you do find yourself low on manpower, consider hiring a temporary freelancer to pick up the slack.