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Reshali Balasubramaniam
January 21, 2019
Behavioural Psychology-Creativity-Decision Making No Comments

Great Ways to Speed up the Growth of Your New Venture

Start-ups are the flavor of the season. Everywhere one looks, there is a new one springing up. With innovative ideas and newer opportunities, people are jumping onto the bandwagon.

Starting a new idea is something; sustaining and thriving is quite something else though. You have to ensure rapid growth to succeed. Here are some ways to ensure your new venture takes wing.

Choose your business well

A lot of success depends on what business you jump into.  Choose something that drives you, invest to the best of your ability, and push it ahead with everything you have got. You must also make sure that there is a market for the product you are launching.

Interact with peers

There are others out there who have been in the situation you find yourself now.  Reach out to them and get fresh perspective on how best to solve problems and drive growth.

Mistakes will happen, learn from them

A new start-up will invariably encounter unforeseen problems and hiccups. It is easy to get demoralized by them but do not let that happen.  Mistakes are good, learn from them and surge ahead. You will realize you are getting better and more in control after each such occurrence.

Spread the word around

Make your intentions very clear all around.  Your past experience, your future plans, these need to be seen and heard by people in order to make an impression.  People will prefer to do business with you if they feel they know you.

Go digital

This is the age of digital dominance.  Bolster your online presence across platforms so that your brand presence and visibility increase. Make it easy for potential customers to have access to information about your venture.  Also make yourself accessible to them online.

Network with investors

Any kind of venture needs regular funds and backing of investors in order to ensure growth.  Make sure you are in sync and in touch with them on a regular basis to be able to handle ups and downs of your venture with confidence.

Start small, think big

One need not always begin a startup with a bang.  An intriguing idea or product will soon make a place for itself.  It is wiser to begin small in keeping with the investment and then ramping up over time according to plan.  Thinking big is great, but small steps help achieve goals better.

Generate revenue

Once you have settled in and got to know your customer base well, you will understand what they want.  This will allow you to diversify and bring in variety in your venture.

Be professional

Remember this is a business that you are running, not an amateur job. Keeping accounts of revenues and losses is extremely important.  Do not mix personal and professional boundaries.

There is bound to be plenty of competition around. Embrace the situation to gain upper hand.  Remember markets are fluid and demands keep changing. Being perceptive and adaptable to change is the best way to ensure that your venture grows into success.

Reshali Balasubramaniam

Head of HR, HR Counselor and adviser at https://work.lk/. Do you offer a Service? Signup for an account at work.lk

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