ChicExecs Co-Founder and Co-President, Kailynn Bowling, shares what entrepreneurs need to go from startup to industry leader on Forbes blog. Check out this highlight from the feature.
You have the ambition; you just need a plan. Follow this five-step playbook to take your business from startup to star. You’ll build a solid reputation in your industry in no time!
1. Embrace pivots.
Every business goes through growing pains, and startups are no exception. But there’s a difference between working hard and stubbornly clinging to an idea that isn’t working. The most successful startups know when it’s time to abandon their approach and pivot—before it’s too late.
2. Talk to real customers often.
It’s easy to assume you know what your customers need. But when was the last time you had a direct heart-to-heart with your shoppers?
It might sting a little, but honest customer feedback is the key to growing your startup into something bigger. Everything from your website to product features to packaging and billing needs to touch on customer needs.
3. Be aware of the competition—but don’t copy them.
Every startup should be aware of its competitors. This isn’t about copying or playing catch-up, though: Competitor analyses help you understand what your competitors offer. If you look carefully enough, you can spot gaps in your competitors’ software, pricing, online experience and customer service… so you can swoop in and do better.
4. Become a reputable source of data.
Everybody wants to see data about your industry, but there’s one big problem: It takes time and money to collect this data. Most businesses aren’t going to bother with something like that. Instead, they rely on other providers (and even third parties) to study the industry for them.
5. Host, attend or speak at events.
Speaking of conferences, events are a great way to bolster your startup’s reputation while you’re small. Try looking for local events first to keep your costs low—this is also great for boosting local SEO!
Read Kailynn’s entire blog here.