In spite of the current economic climate, start-up businesses have increased in recent years, with 2013 being the year of the start-up. Feeling sick of relying on someone else for their wage, more people than ever are becoming entrepreneurs and taking control of their own fate, with businesses opening throughout the country.
While starting a business can be difficult at any time, there are rich rewards to be won by those who succeed due to determination and great planning. If you are among those who are looking to take control of their future and start their own business, there are a few things to double check before signing the dotted line.
Are you hiring the right people?
Many of us adore the idea of setting up a business with friends, but is this the right choice for your business? It is more important than ever to make sure you are hiring the right people for the job who can help your business grow in the long term.
CFO Shamir Karkal gives the following advice: “Hire great people…then get out of their way. You should strive to hire people who are smarter than you and, if you success, they will get irritated when you get in their way. Delegate and keep your eye on the important stuff.”
Are you saving money where you can?
Obviously large amounts of money must be sunk into a business to get it started, but it doesn’t mean you need to be out of pocket when you could in fact be saving. One place many start-up businesses lose money is with meetings with clients across the country that take up valuable time and money.
Conference Genie have discussed the ways in which teleconferencing can help start-ups, with one of the most prominent benefits coming from saving money. Businesses can communicate in the same manner as a face-to-face meeting but save hundreds per time in travel.
Are you listening to the customer?
When you’ve just begun until the day you retire, customer feedback is imperative. As they make the business possible by using your services, it’s essential to ensure you are taking on board all feedback, good and bad.
Vice President Levi Cooperman has said: “Customer feedback has been critical to our success from the beginning. We would occasionally push out features that were a bad user experience and made our service worse, not better, and our users told us right away when something was wrong.”