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The most rewarding yet most challenging part of what business bargain plans have learned from business owners is failing. It’s rewarding to see some startups are able to learn, adapt, and start again. Others simply have no choice but to count their losses.
BBP provides the foundation of your startup planning that is able to survive even the most unanticipated storms. However, there are some things you learn in business that no plan can cover. Here are the 4 ultimate tips that will save your startup.
When it comes to brand messaging, clear and focused are the name of the game. From the very beginning (and every step of the way) it should be very clear who you are, what your brand represents, and what solution your business or service provides. Your brand message should be crystal clear and very specific. This is how you are going to lure investors and build brand loyalty among clients and customers.
Avoid handouts or doing things for free. This includes taking on cheap clients. It’s tempting to shake every hand that’s extended to you but some hands may yank down the value of your startup. Consider everything you’ve put into your startup planning. Unless you’ve scribbled “sell yourself short” into the fine print–don’t do it! Negotiate everything and never settle for less than you would accept a year from now.
Seek investors and partners that offer more than just funding. Oftentimes, money can feel like the center of the startup planning universe. Yes, it’s important. No, it’s not everything. Funding will not mean your startup is successful. Value, however, is a different ballgame.
The best things to consider when pursuing a high-value investor are:
Expertise– What is your investor’s background? If they weren’t investors would you consider hiring them? An investor who can offer skilled expertise applicable to your startup is more valuable than any blank check.
Network– Maybe your investor isn’t offering the loftiest amount of cash, but do they make up for it in who they know? Many times, who you know can make you an authority in your market quicker than anything else.
Resources– When possible, pursue industry veterans who have the resources you need at their fingertips. If they really believe in you, they’ll be glad to share
When it comes to startup investors always go quality over quantity.
BBP is in the business of planning. But, we never undermine the importance of adaptability. Everything from trends to stocks can change at a moments notice. The sooner you realize nothing is guaranteed, the more liberty you will give yourself to create a business that not only survives change, it thrives amidst it.
How is any of this possible? It all starts with the right business plan for your startup. Bargain Business Plans is based on a specific brand focus, driven by clarity your startup business plan will entice valuable investors and high paying customers. We also create plans that are flexible and anticipate changes in the road ahead.
Tags: business exit strategy, business planning, changes, customers, going into business, save my business, sba business plan, small business, small business funding, small business investment, small business loan, startup failure, startup planning, startups