Fundamentals Startup Owners often Forget

Starting a new business, especially when it’s your first time, can be a daunting process with lots of things that need to be done, and lots of hopes and dreams that need to be kept in check. So, it is, perhaps, not surprising that so many startup owners forget some of the basics along the way.

If you’re getting ready to start your business, and you want to give yourself the best possible chance of success, ensure that you don’t forget the following fundamentals:

Researching your audience

So many startup entrepreneurs get so excited about the great idea they have that they forge ahead without ever really researching the market to find out who their target audience is or even if they have one at all. Too often, this leads to disaster with a launch that no one asked for, which is left to shrink without a trace.
The fact of the matter is, market research is the one fundamental you can’t afford to forget. You need to know that there is a market for your stuff and you need to test out your products and services on as many people as possible to ensure that your company meets your audience’s needs and that it is likely to be a big success.

The basics of making a good impression

Many startup owners spend thousands of dollars finding the p[erfect logo and crafting the perfect brand origin story so that they can make the right first impression from the off, without ever thinking about basic things like ensuring that the office is clean and the asphalt paving in the parking lot is free from potholes, or that their employees are warm and welcoming to their customers. This is a huge mistake because a dirty office is likely to be spotted before your brand ethos ever gets read, for example, and buy then, you could have lost the customer completely. Focus on cleanliness, politeness, and the other basics of making a good impression first, then worry about fancy logos and branding or you may end up regretting it.

The law

It’s shocking, but so many startups forget that there are rules and regulations regarding most businesses in most regions, and they just go ahead and start trading without doing basic things like registering their company or having health and safety come do a check. This is the kind of thing that can end your business before it’s even started, and a good reason why you should consult a business lawyer before you start trading, not when you get slapped with a fine or lawsuit, or put out of business completely.

Help

Many startup owners think they can do it all alone, so they don’t bother asking friends and family for help, employing members of staff, or even researching some good freelancers in their industry who they can call on. They very quickly realize their mistake when they are overwhelmed with important tasks that they can’t keep on top of. Don’t be like them and ensure you have enough support right from the off.  

Remember these fundamentals and get off to a good start.

This is a contributed post.