As a startup, you may have times when growth has slowed or reached a plateau. This can be frustrating, but there are several things which can be done to spur a new growth phase. We will look at some common growth challenges and offer some strategies to overcome them and trigger a new growth phase.
Strategy One: Don't do it alone
Your startup is doing really well. So well you have been turning away business. Time to ramp up. Be more productive. Get an executive virtual assistant team on board from Red Butler. Instead of having just one virtual assistant, utilize a team of assistants. Delegate to them what you don't need to personally handle. This will boost your productivity. With only 24 hours in a day, administrative support is a smart and effective growth strategy.
Strategy Two: Don't get too comfortable. Shake things up.
The energy that goes into launching a startup can be enormous, so what happens to many startups is that once they get "off the ground", they relax and then shift into auto-pilot mode. The day to day tasks of running the business takes over, and the creative energy and excitement which was reflected in everything the business did in the beginning starts to fade. No excitement= growth reaches a plateau. Shake things up. Market your product in a different way. Focus on sales in a different way. Do something you haven't before to get more exposure. For example, you could get a table at a private trade show, or volunteer to be a speaker at a local entrepreneur meeting.
Strategy Three: Know when to get investors
Focusing your early days on finding investors can take up a lot of time that you could be spending selling your product or focusing on other areas of the business. It may be a good idea to work first on proving your product in the marketplace. By not having investors to answer to, you can experiment with different ideas and see what works best. Then, when you have some numbers to share, seek out qualified investors.
Here at Red Butler, we are privileged to work with startups every day, and we love being an effective part of the overall growth strategy of these small businesses.
Since 2005, our high-performance executive clients have helped Red Butler continuously improve our service model. Today our clients enjoy the service quality of an experienced in-house executive support team for less than the cost of one additional hire. Red Butler can help your startup reach short and long term productivity goals. Start here to see some examples of how other businesses have used Red Butler. .