Small Business Lessons Learned from Start-Up Culture
High growth start-up companies are hugely popular and trendy at the moment, most of them based around technology, many featuring a deep integration with mobile platforms and other new technologies that make them highly viral and of huge interest to already established corporations. These small, yet nimble companies are often responsible for major disruptions in already established markets, and the fact that they are willing to think big can yield high level rewards for those involved. Whatever small business owners feel about these trendy young companies and their ability to create influence beyond their size, they can appreciate what is able to work for them and apply the best aspects of their strategies to their own businesses in order to grow in fresh and productive directions.
Add a twist to a familiar product or service. Many high growth companies are able to achieve fast acceptance by eliminating steps surrounding an already widespread service, or by taking something that they know people like and adding a twist that casts it in an interesting new light. Small business owners can use this strategy to revamp their own existing services, in particular when it comes to products that are popular, but not as much as they could be. If something is functioning below the level that you believe it should be, then it’s up to you to figure out why and re-invent the product.
Create more convenience. One of our most favorite innovations from the start-up sphere is the ability to order food from great restaurants with the touch of a button through the multiple apps that now exist for this purpose. This seemingly obvious improvement on the traditional method of calling up a restaurant totally revolutionized how many Americans now order food. Similarly, there is probably a way that you can take your current services and make them more accessible to your clients. Whether it is something as simple as creating a more interactive and easy to navigate website, or something more complex that might even involve partnering with another business, figuring out how to make your business easier to love is in your own self interest, especially if you have tough local competition.
Be social. Some of the remarkable success of high growth start-ups can be rightly attributed to the relentlessly social nature of their founders. It’s common for personal connections as well relationships and even cold calling to be behind the fast rates of growth and key sales behind these younger companies. What this tells more established business owners is that it seriously pays for them to be as visible as possible both in networks related to their industries as well ans on social media networks where they have the opportunity to promote directly to their core groups of clients. Don’t be afraid to make new connections and rekindle old ones in the quest to get your business to the next level. Maintaining key relationships with face time and real attention can be what earmarks your business for a key opportunity down the road.
Photo Credit to Heisenberg Media on Flickr