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If there’s one thing I’ve learned working in tech and PR, it’s the grave importance of speed. Competitors are always on the lookout, and modern advancements are dropping left and right at a lightning-fast pace. Resting on your laurels is no longer an option — you need to think, act and move fast.
Moreover, the modern customer has grown accustomed to instant gratification. In a nutshell, speed is their norm: They want their problems solved, their needs met and their desires fulfilled with a tap of their smartphone screens. In a world where ecommerce delivers products on the same day; where food can be ordered and brought to your doorstep in minutes, and where streaming services provide instant access to a vast library of entertainment, patience has become an alien concept.
This shift in consumer expectations has made speed an invaluable currency for businesses. Those who can deliver their products or services faster, more efficiently and with a superior user experience have a distinct advantage. They not only attract more customers but also retain them.
Here are some strategies and tips for building your business quickly:
1. Start your business now
The first tip is simply to start your business right now. Why? Competitors are always on the move. If you want to dominate your category or lead an existing market with a new innovative offering, it’s important to stray from the waiting game
“Time is money” is a cliche for a reason, and that’s because it couldn’t be truer. Keep in mind that if you’re not moving fast enough, your direct competitors will overtake you, capture the same market share and attract the same customers you’re targeting. The “first move advantage” is always substantial to establish authority and become the preferred choice of clients.
Here’s a pro tip: Leveraging technology to speed up your business launch is always an advantage. Investing in business builders like Tailor Brands will exponentially increase your chances of success. This is a must-have, all-in-one solution that will simplify all the complexities of starting and running your business in one single platform.
2. Crowdfunding and accelerators
Raising capital is always a challenge. If you ask any entrepreneur about the biggest blocker of turning their entrepreneurial ideas into reality, it’s funding. But if you have the confidence that your product can disrupt an industry and solve a pressing problem, seeking investment through crowdfunding platforms or applying to startup accelerators might just be your next best move.
Here’s a pro tip: When exploring crowdfunding, platforms like Kickstarter and Indiegogo can help you raise capital directly from a community of backers who believe in your vision. Make sure your campaign is well-prepared with a compelling story and clear value proposition to attract potential investors.
For startup accelerators, research and select programs that align with your industry and goals. From financial support and mentorship to resources that catalyze growth, joining an accelerator can be a transformative experience for any up-and-coming entrepreneur.
3. Networking and partnerships
No man is an island when it comes to business building. You will need all the help you can get — from business advice, strategic partnerships, joint ventures and mentorship programs, to PR collaborations. You need to treat the business ecosystem as an interconnected web where you can get invaluable insights and guidance from seasoned entrepreneurs, business opportunities from more established players and fresh perspectives on your business ideas.
Here’s a pro tip: Look beyond traditional boundaries. Attend industry events, seminars and conferences, both in person and virtually, to connect with like-minded professionals. Online platforms such as LinkedIn can also be powerful tools for expanding your professional network. Seek out mentors who have experience in rapidly growing businesses, or find opportunities for co-creating solutions with complementary businesses.
4. Outsource and delegate
Once you’ve built your business, it’s now time to build your team. Outsourcing roles and delegating tasks can significantly accelerate your business’s growth. Identify non-core functions that can be handled by specialists or third-party services. This frees up your time and resources to focus on what truly matters for your business’s success.
While outsourcing and delegating tasks can be game-changers, it’s essential to find the right people with exemplary backgrounds. Consider using online platforms that connect businesses with skilled professionals from around the world.
Here’s a pro tip: Websites like Upwork or Freelancer can be goldmines for talent acquisition. These platforms are your windows to a global pool of talents with a wide range of skills, expertise and experiences. From web development to content creation, these outsourcing websites offer a cost-effective and fast way to build your team and meet business objectives.
5. Establish a bulletproof tech stack
Once your business is running, it’s time to maintain the momentum and ensure that you can continue to operate efficiently and effectively. A bulletproof tech stack can make all the difference between success and failure.
Treat your tech stack as the backbone of your operations. It can help you scale, optimize and streamline business processes that are often tedious. For example, a trusted customer relationship management (CRM) system tracks your interactions with customers and streamlines your sales processes, while accounting software ensures your financial operations are precise and efficient.
Here’s a pro tip: When building your tech stack, consider the specific needs of your business while meeting the nature of your operations. Don’t look for overly complicated solutions — the simpler, the better. Asana is one must-have tool to efficiently track, manage and connect your projects across your organization. It’s straightforward, easy and user-friendly — ideal for any type of business of any size.
Building your own business is not easy, but the rewards are unparalleled — like climbing a steep mountain where the steps are rough but the top view is spectacular. And while the ascent is a challenge, what’s important is to pick up your feet, establish your speed and embrace the elements that come with it. In today’s business world, change is fast and competition is fierce. Your upper hand will always be your ability to make big swings at a groundbreaking speed.