Your company has reached Aha moment, and there is no turning back now. You must fight it out and fight hard. There are so many companies that undergo this moment and only a few among hundreds and thousand get over it. So here are certain tips that would help you bring your company back from the edge.
1. Start with your vision: Your vision sets the direction for where your business is headed. It also determines whether your business will thrive or fail. Take time early on to polish your vision, analyse your strengths and weaknesses, define the marketplace. These key pieces of your vision will provide a true north for the rest of your strategy.
2. Go goal-first: If you are not a natural goal-setter, you can become one. Define a few short-term goals that align with your strategy, and then create the steps needed to achieve them. Goals give your daily work purpose. There is so much to get done in start-ups that you will forget why you are working on specific tasks. Having a goal-first approach helps align your small, daily actions with the reason why you built your start-up in the first place.
3. Solve one problem: Start-ups often feel like they are flying blind; there is much to get done in extraordinarily little time. But trying to multi-task by solving all problems at once is guaranteed to lead you off course. Instead, identify the one problem you want to solve for customers and align all of your actions towards achieving that goal. You will quickly find that when you focus all your efforts on solving one problem, additional problems will present themselves.
4. Be responsive: At Aha! we are interruption-driven and respond to requests with urgency. We do this because answering people while requests are still fresh aligns with our most deeply held values. Our customers know they can count on us to offer crucial guidance.
5. Spend wisely: Many start-ups waste too much money on the wrong things. If you are running out of cash — or have yet to receive any — you must make some tough decisions. These choices might be painful now but will likely be best in the long run. Be stingy with your budget early on. Spend money only when you absolutely must, and prioritize what will create the most value for the business.
6. Treasure your time: Time is your most precious resource. And there are many ways you can spend your time as a founder. By far the best way you can spend it when your business is in trouble is refining your strategy and goals. Time and experience have taught that this approach wins in the long run. Clear your schedule so you can focus your time, attention, and energy on what matters most. Once you develop a clear vision for your business, you will see the opportunities and challenges ahead. This will help you breathe easier. You might even beat those stiff odds and become a start-up success story.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath