5 Effective tools to fix early stage startup chalenges

November 26, 2016
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Nowadays, the number of professionals wanting to become an entrepreneur has increased significantly. They want to take charge of their financial future and enjoy the freedom that entrepreneurship can provide, the reason being the growing technology, rising opportunities or the passion for becoming an entrepreneur. For Entrepreneurs, It’s easy to come up with a wide variety of ideas for new businesses but, it’s actually very difficult to implement those ideas into reality. A Business concept is a bridge between an idea and a business plan. Transforming an idea to a business concept requires the deep analysis about how the product or service will be sold, benefits of the products or service offerings, how it can be differentiated from the competition and methods of delivery. A lot of startups fail due to Market problems, Business model failure, Poor management team, running out of cash & product problems. Competition, Rapid Growth, Adding Talent & surviving in a fast-paced market has always been a challenge to all start-ups.

Here are some of the biggest challenges faced by an early-stage startup that the appropriate tools can help you combat.

1) Work as a Team not as a group

“Coming together is a beginning, staying together is progress, and working together is a success.”

Henry Ford

  • While all teams are groups of individuals, not all groups are teams. Team members work together toward a common goal and share responsibility for the team’s success. It is needless to say that one of the biggest assets for a startup is its people. In the startup environment the employees are given multiple roles and responsibilities and working from home is also a part of the job.

  • In such situations Team collaboration tools can help a great deal in keeping the team together, helps in assigning tasks in more meaningful and intelligent manner which makes the team’s life much easier. It’s easy to keep track of all the projects, activities, each task status and to come up with more plans and suggestions.

One of the most important is, it aligns the whole team towards one goal called Growth!

2) Strengthen Your Sales Strategies

  • Sales the most important part of the company, if there no sales then there is no point of the company to sustain in the market. Sales require a combination of people skills and product knowledge using which the specialist can quickly deep dive into customer’s needs.
  • In Spite of having networks and selling your product to people you know in your circle, there will be a stage where you have to start casting your net wider. At this point, it is important to tackle it in a smart and methodological manner.
  • Customer relations management software tools can help your business grow by managing many sales processes, from lead scoring to enhancing long-term customer relationships.
  • Companies can get a better idea of their customers’ needs by conducting polls and surveys, keeping note of discussions with customers, and recording other forms of feedback. With this information, companies can help direct future releases, keep current customers loyal to the brand, and even target potential customers more accurately. Using CRM can ultimately improve revenue, improve customer retention, and help set you apart from the competition in your customer’s’ eyes.

3) Spreading Brand Awareness

Gone are those days when marketing was just limited to numerous billboards on highways, streets, and those TV commercials. Today marketing is a lot more than that, mastering social media, building email following and creating great content to leverage SEO can help you create a great brand following. Tools for Social media Scheduling , email marketing, content management and analytics have become the need of the hour to keep your visitors and customers engaged. All these tools can help companies measure, analyze and learn from their experiments.

4) Visual content & Design

Here are some facts which would be interesting to read and will give you reasons why Visual content and design should be effectively done for business growth.

  • 90% of information transmitted to the brain is visual.
  • We process visual information 60,000 times faster than text.
  • 40% of people respond better to an image than 1,000 words.
  • It takes 50 seconds to read 200-250 words, but only 1/10 of a second to process a visual image.
  • Whether you need to design your website, a blog image or simply an image to go with a social media post, there are several tools to make your life easier.

5) Managing Finances

  • Many start-ups do not consider hiring a dedicated accountant in their early stages. Here again, somebody has mercifully created tools for the non-accountants to look up and still smile after “crunching numbers.”
  • The best time to get your accounting in order is before you make your first dollar. Accounting tools have a clean interface and seem to be geared for people who barely have time to drink coffee in the morning, let alone run a profit-and-loss statement.
  • The accounting tool lets you e-mail invoices, run reports, and manage expense items but does it all in an intuitive way that saves time.

Knowlarity is India’s first and biggest provider of cloud-based solutions. We help to grow start-ups by empowering them with marketing automation and communication tools

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