Starting your own business is never easy, but you don’t have to do it alone. There are many resources available to San Diego startups to help take your company’s efficiency (and funding) to the next level. But how does a successful startup do it? Here are a few tips and tricks from the insiders.
1. They Know the Value of Their Time
A founder of a San Diego startup understands that they can’t do everything themselves. There is only so much time in the day and so much energy a person has. A startup founder already is pushing the boundaries of their sanity, so they know how to utilize outside services for things that aren’t worth their time. For example, bookkeeping and payroll are exceptionally time-consuming. A successful business owner will invest in outside companies to handle that while they can spend their time growing their product or service.
2. They Seek the Right Advice
While many San Diego startups have a lot of great ideas and products, very few founders sit down with an experienced CFO to hash out the details. There is a big misconception that you have to hire an in-house CFO in order to gain that type of insight. In reality, some companies offer CFO services that are outsourced, giving you high-value advice without being burdened by a high salary.
3. They Spend Money to Make Money
Marketing can be expensive, but you know what costs a lot more? Spending money on the wrong things. Many founders make the mistake of trying to learn digital marketing themselves rather than seeking advice from the experts. They spend loads of money on social media marketing ads, Google Adwords, and gimmicks that end up not converting. While quality marketing and ads may cost a little more than you think, the value it brings back to your business is substantial.
4. They Know Their Demographic
One thing our digital marketing team always discusses prior to developing a strategy is, “Who is your ideal customer?” If a client doesn’t have a clear picture, then some branding analysis is in order. Successful San Diego startups know the age range, interests, and even geographic location of their ideal client.
5. They Are in It for the Long-Haul
No business goes from conception to 100M overnight. It takes a lot of long-nights, blood, sweat, tears, and hustle. You can always tell the amateurs by their frustrations when things don’t go their way the first time around. You may have to deal with quite a bit of rejection, but don’t let it deter you. Keep pushing forward.
6. They Can Communicate Their Product’s Value
When you are selling any product or service, you need to present a common issue and communicate how your product solves that problem. You also need to do this in a quick and succinct way. It is ok if you don’t have this part down as a young startup, but make sure to talk to a marketing professional to hone it in before approaching big investors.
7. They Hire the Right People
You are only as good as the team that supports you. Great ideas can be taken down by poor execution. When you are hiring for your San Diego startup, don’t just wing it. Instead, Do the work by speaking with a talent acquisition specialist or startup recruiter who knows your industry. IntelliStack has a whole team of corporate recruiters to assist you in finding the perfect candidate.
8. They Have a Story
People respond to authenticity. It is crucial when you are developing your brand that you incorporate your personal story into it. While some people’s stories may not be extremely emotional, you can still make an impact. Why did you develop your product or service? What drives you to pursue this idea? Our marketing experts can help you explain your story if you need assistance.
9. They Use Video Content
Video content is overtaking the marketing world. If you don’t have at least a few high-quality videos that promote your brand, you are doing yourself a huge disservice. While video can be a significant investment for a smaller business, it can make all the difference in attracting potential customers. Successful San Diego startups all have invested in producing brand-specific content to share on their website.
10. They Understand the Importance of Leadership
Successful San Diego startups have a clear organizational structure. One of the most common mistakes startups make is the lack of an org chart to dictate who people need to be reporting to. Take some time and develop a functional org chart prior to a big launch. Not only will you be saving valuable time, but your team will be much more effective at their jobs because they can focus on where their strengths lie.
Are you a San Diego startup who needs assistance in one or more of these areas? IntelliStack has more than 200 clients with over 100 MILLION in funding. Let’s chat about how we can assist you.