5 Ways to Set a New Company Up for Success

Success - P'tit Bazar 2007 (02)

Success – P’tit Bazar 2007 (02) (Photo credit: alter1fo)

It was only last August one year ago that I left my big corporate job to become an entrepreneur. I really could’ve used this advice back then and actually did implement some of these suggestions to success. If you’re a small business owner who wants to grow, see if any of the below can help you:

1. Set low expectations.  By starting with a conservative approach, a modest success will be noticed and you will be perceived as even smarter than you are.

2. Start local. By developing and testing your idea or product in a local environment, your most powerful network — that is, people you know — will be engaged, and you can do any polishing you need to do before spending big bucks on an untried process in a larger market.

3. Grab low-hanging fruit. Pretty much every product or service has at least one super-strong potential buying group. Focus your efforts on that group with everything you’ve got.

4. Start with a single, likely client. Research their customer base and determine which customers would be the most interested and why.

5. Partner with another successful firm. Suppose a complementary and not competing company has the visibility and attention you want for your company. It may be a wash for you in terms of revenue, but you’ve gotten your product in front of real customers.

via 5 Ways to Set a New Company Up for Success.

Collaboration, conservative optimism and using your networks is what it’s really all about when a business is starting up. Telling your loved ones about what you’re doing (here’s my warm letter from last year) and setting up wonderful ways of working with others who serve the same audience as you (see my Coach’s Buffet that I’m doing at the Toronto Women’s Expo free of charge!) are surefire ways to soar to success.

Need more chicken soup for your biz? Follow me on Twitter, friend me on Facebook or connect with me on LinkedIn –and let’s talk!

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