Toronto Web Design Company

Key success factors for growing start-ups

Toronto Web Design Company

A 14-year-old boy dreamed of buying The New York Jets and has never looked back since then. Today, Gary Vaynerchuk sits atop a $60M business empire but his journey, although provided a kickstart, was not easy. Putting his wits and knowledge to great use, he’s given out some great uncensored advice to business owners and has adopted some key success factors to grow his own business as well.

Let’s move forward and look at some pointers that could help your business grow. 

“Even if your ambitions are huge, start slow, start small, build gradually, build smart.”

 ― Gary Vaynerchuk,  

  1. Clear and concrete goals 

Armies don’t defeat with just manpower- they have a clear set goal and a plan of action to achieve it. Here, your workforce is your army working relentlessly towards a clear and identified goal. 

Even before your processes start, make sure there is an end goal for everything- a long term goal and a short term goal. A long term goal makes sure you’re not deviating from the course and short term goals motivate you to keep working towards your success. 

For a start-up, having weekly goals or task goals within the initial stages makes it easier to comprehend, figure out, and attain said goals.

       2.  Creating THE Team

“Skills are cheap, passion is priceless.”- Gary Vaynerchuk, 

Perfectly summed up by Gary- we feel the same way. 

Find like-minded people who are as excited and thrilled to be working towards your goals as you are. 

Your employees need to work towards common goals and know the meanings of those goals to you, to them and the startup- because your startup is an entity on its own now. 

Find untapped resources, turn to more experienced business owners and your employees for advice, find diversified talents to solve business problems. 

  1. Having the correct mindset 

Rome was not built in a day and neither was a steam engine or wi-fi or your bedside lamp even. Failures do not mean you should give up, but extended periods of no return on investment and recurring losses might mean you have to switch up how you play your game. 

The thing is, operating a startup is tough and it only gets tougher until things start to look good. You will face problems, but you have a highly competent core team ready to put their brains into solving them, and really, humans are the biggest asset. 

Be optimistic, but realistic too.

The key is to not give in to the temptation of just giving up and becoming a sanyasi in the Himalayas. 

       4. Innovate and improve 

In our fast-paced world, nothing stays still- it is dynamic and keeps on evolving. 

So do you. 

Now, this is probably one of the most important points here because innovation IS key. Key to growth, key to business, key to financial returns, and the key to knowledge. 

When you constantly innovate, revamp and evolve your services or product, you keep up to date with the newest technologies, competitors, and consumers out there which is essential for you to know if you do not want your startup to lose touch just in the first few months or years of its operations. 

To avoid being tossed into oblivion, make sure you are enhancing your products and services to give value to consumers. And what better way than to take feedbacks and act on them?

      5.  A Sustainable Business Model

You probably will need investors like most of us out there and for them to actually invest in your business- you need a business plan, a really good one at that.

A good business plan is in alignment with your target market and trend and stays clear on what your plan of action is to achieve your clear goals. Future is key here, make sure you have a long term plan ready to showcase and it maps out every aspect of the growth you plan on achieving down the line. 

Your business plan will reflect a lot of you and your values, so think of it as selling yourself to the investors and make them believe that you are living your plan in life and intend to make sure the same will stand true for the startup. 

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