The Four Components of a Successful Startup in 2019

So perhaps you’ve got an idea in your head. Maybe you’ve decided to finally leave your job and start your very own business because you’re tired of being tied to a salary. That’s fantastic progress, but with the year soon coming to an end, it might be best to plan your business, build connections and do your research before you decide to finally register your company name and get started.


Unfortunately, as times change, so do processes. The way you run a business now is going to be a little different when compared to 2019, so we’ve prepared a couple of tips to help you operate a successful startup at the start of next year.


Start building influence on social media


As a startup, you need to leverage the platforms and resources that are available to you instead of focusing on things that are out of your reach. This is why it’s incredibly important to build influence on social media, be it on Twitter, Instagram or even Facebook. The idea is to connect with influencers so that they listen to you. You want to build good relationships with people so that when you do start your business, you can refer them to it and say “hey, check out my new business venture” without sounding out of place.


Social media is perhaps one of the most interesting platforms for new businesses to use because it’s free, it takes a bit of effort to build good relationships and also because you have the same audience as larger companies. Whether you’re a large corporation or an individual, social media platforms can expose you to the same global audience.


Ask what makes your products and services different


In order to stand out as a startup, you need to offer something unique and different to the world. You don’t have to do something outrageous and controversial, but it pays to do something different enough that it garners some attention.  We won’t go through every single possibility here, but we will mention a couple of questions to ask yourself.


Firstly, what makes you different? This is important to ask because if a consumer is given the choice between picking your services and the services of an established company, they’ll likely pick the choice with more reviews and a better history. You should also think about how your approach to the industry is different. Many companies follow similar business models and as a result, they don’t feel much different from each other. By setting yourself apart, you’ll be more attractive to consumers.


Get in touch with specialized services


There are highly specialized services out there that can help you get your business started. For instance, you could resort to email marketing system for agencies if you’re planning on starting a type of agency. Alternatively, you could look at specific software services if you want to take advantage of your online presence. There are plenty of specialized services and employees that you can utilize in order to gain the upper hand–you just need to do a bit of research and look for them.


Have you located your source of funding yet?


Funding is also a huge concern for many entrepreneurs. Where you get your money will depend on the resources available to you. Some people will prefer to use their own funding, others will apply for a business loan and some will turn to crowdfunding options. The way you approach your funding will heavily impact your business model and also your first couple of months in business. For instance, if you’re going to use crowdfunding, then it’s ideal if you have a prototype or a demo product to give to your audience to prove that their money hasn’t been wasted. On the contrary, if you’re able to secure funding from a bank, then your investors will want to see up-to-date financial reports and future projections in order to determine if they should continue funding your projects. There are many different ways to get the funding you need–you just need to look around.


Final words


2019 will be a fantastic year for startups, but it’s a good idea to realize that you only have a limited amount of time before all of your current ideas are exhausted and you’ll need to return to the drawing board in order to get ahead of the curve. Chasing the tails of larger and more successful businesses isn’t the best idea, which is why it’s so important to stay motivated and innovate to do something unique that other businesses haven’t.

  • This post has been written for Morning Business Chat by an outside source

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