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Staying in Business in Your First Two Years

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Staying in Business in Your First Two Years
For new businesses the first two years are a crucial time. In fact, this is often when a company is made or broken. We have seen how to avoid startup failure, and this is the next step: staying in business and thriving.

Keep Adapting

The business you set out to create might not be the business you end up building, which is why you need to stay open to new possibilities and alert to fresh challenges. You never know when an opportunity will present itself and you have to be mentally and physically prepared to seize it.

Focus on Your USP

While we advised that you need to be able to adapt, this shouldn’t come at the expense of forgetting what you do and what you are uniquely capable of as a company. Your USP should in fact be the driver that leads to new opportunities, so it is worth always keeping your business plan and any branding work in mind and using these as a road-map towards the future.

Take Care of Logistics

If you rely on suppliers for parts or ingredients or if you need to ship goods to customers, it makes sense to choose a trusted business parcel delivery service. This way you won’t have to worry about what is potentially one of the most fraught aspects of any business. If you know your deliveries are going to arrive on time, and have an easy way of tracking them, you can be more confident in what you promise. By the same token, if you can ensure that your suppliers all ship to you using the same service, you don’t have to spend your time monitoring different delivery companies.

Put Customers on a Pedestal

Your business relies on its customers, which is something that’s easy to forget once you get swamped with reporting, scheduling, hiring, firing and all the other work that makes up your business. It is to your customers that your product or service is aimed, which means that customers are the ones who should take up most of your energy and effort. Are you reaching out to them in the right way? Are you delivering the best possible service? Questions like this should drive your business ahead as it moves from year one to year two.

Prioritize and Delegate

It’s important to remember that you can’t do everything at once, so it might be worth focusing only those areas in which you can personally make a difference. When there simply is too much to be done, you need to lose any fear you may have of handing over work to others in your team. It’s all very well staying up late and working during your weekends, but if you’re in it for the long haul, you might want to think strategically and manage yourself as an asset.

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